<SEC-DOCUMENT>0001171843-22-006409.txt : 20221004
<SEC-HEADER>0001171843-22-006409.hdr.sgml : 20221004
<ACCEPTANCE-DATETIME>20221004161543
ACCESSION NUMBER:		0001171843-22-006409
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20221004
FILED AS OF DATE:		20221004
DATE AS OF CHANGE:		20221004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FirstService Corp
		CENTRAL INDEX KEY:			0001637810
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36897
		FILM NUMBER:		221291740

	BUSINESS ADDRESS:	
		STREET 1:		1140 BAY STREET, SUITE 4000
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5S 2B4
		BUSINESS PHONE:		(416) 960-9500

	MAIL ADDRESS:	
		STREET 1:		1140 BAY STREET, SUITE 4000
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5S 2B4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New FSV Corp
		DATE OF NAME CHANGE:	20150326
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_100422.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: center">UNITED STATES</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; font-weight: bold; margin: 0pt 0; text-align: center">FORM 6-K</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">For the month of: October 2022</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Commission file number 001-36897</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 18pt; font-weight: bold; text-align: center; text-indent: -4.5pt; margin: 0pt 0">FIRSTSERVICE CORPORATION</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>1255 Bay Street, Suite 600</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Toronto, Ontario, Canada</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>M5R 2A9</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Address of principal executive office)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Form 20-F [ ]&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;Form
40-F [X]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): [ ]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): [ ]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether by furnishing the information contained in this Form, the Registrant
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Yes [ ]&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;No
[X]</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If &ldquo;Yes&rdquo; is marked, indicate the file number assigned to the Registrant in connection
with Rule 12g3-2(b): N/A</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: left; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: left">SIGNATURE</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 49%; font-size: 10pt; font-weight: bold; text-align: left">FIRSTSERVICE CORPORATION</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Date: October 4, 2022</TD>
    <TD STYLE="font-size: 10pt; font-style: italic; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-style: italic; text-align: left; padding-bottom: 1pt"><U>/s/ Jeremy Rakusin</U></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Name: Jeremy Rakusin</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">Title: Chief Financial Officer</TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"><B>EXHIBIT INDEX</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: top">
    <TD><B>Exhibit</B></TD>
    <TD STYLE="text-align: justify"><B>Description of Exhibit</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="exh_991.htm">99.1</A></TD>
    <TD STYLE="text-align: justify"><A HREF="exh_991.htm">FirstService Material Change Report &ndash; October 3, 2022. </A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><A HREF="exh_992.htm">99.2</A></TD>
    <TD STYLE="text-align: justify"><A HREF="exh_992.htm">2022 Note Purchase and Private Shelf Agreement - Prudential.</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="exh_993.htm">99.3</A></TD>
    <TD STYLE="text-align: justify"><A HREF="exh_993.htm">2022 Master Note Agreement &ndash; NY Life.</A></TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right; margin: 0"><B>EXHIBIT 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>MATERIAL CHANGE REPORT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Form 51-102F3)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><B>Name and Address of Company</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">FirstService Corporation (&ldquo;<B>FirstService</B>&rdquo;)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">1255 Bay Street, Suite 600</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Toronto, Ontario M5R 2A9</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><B>Date of Material Change</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">September 29, 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><B>News Release</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">A news release was disseminated on September 29, 2022 through
Globe Newswire.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><B>Summary of Material Change</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">On September 29, 2022, FirstService announced that it had entered
into two new revolving, uncommitted financing facilities (the &ldquo;<B>Facilities</B>&rdquo;) for potential future private placement
issuances of senior unsecured notes (&ldquo;<B>Notes</B>&rdquo;) aggregating $450 million with its existing lenders, NYL Investors LLC
(&ldquo;<B>New York Life</B>&rdquo;) of up to US$150 million and PGIM Private Capital, the direct private debt and structured equity investment
affiliate of PGIM, Inc. (&ldquo;<B>Prudential</B>&rdquo;), of up to US$300 million, in each case, net of any existing Notes held by them.
The Facilities each have a three-year term ending September 29, 2025. FirstService has the ability to issue incremental Note tranches
under the Facilities, subject to acceptance by New York Life or Prudential, with varying maturities as determined by FirstService, and
with coupon pricing determined at the time of each Note issuance. As part of the closing of the New York Life facility, FirstService issued,
on a private placement basis to New York Life, US$60 million of 4.53% Notes due September 29, 2032.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><B>Full Description of Material Change</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">On September 29, 2022, FirstService announced that it had entered
into two new Facilities for potential future private placement issuances of Notes aggregating $450 million with its existing lenders,
New York Life of up to US$150 million and Prudential of up to US$300 million, in each case, net of any existing Notes held by them. The
Facilities each have a three-year term ending September 29, 2025. FirstService has the ability to issue incremental Note tranches under
the Facilities, subject to acceptance by New York Life or Prudential, with varying maturities as determined by FirstService, and with
coupon pricing determined at the time of each Note issuance.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">As part of the closing of the New York Life facility, FirstService
issued, on a private placement basis to New York Life, US$60 million of 4.53% Notes due September 29, 2032. Together with the previously
outstanding US$90 million of 3.84% Notes due January 16, 2025, which are equally held by New York Life and Prudential, FirstService currently
has US$150 million of issued and outstanding Notes, leaving $300 million of remaining capacity under the Facilities at the present time.
The proceeds from any issued Notes are intended to be utilized for working capital and general corporate purposes and to fund future tuck-under
acquisitions, as well as potential repayment of amounts outstanding under FirstService&rsquo;s revolving bank credit facility. Covenants
and restrictions under the Facilities are substantively equivalent to those contained in FirstService&rsquo;s revolving bank credit facility.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><B>Reliance on Subsection 7.1(2) of National Instrument 51-102</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">This report is not being filed on a confidential basis.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><B>Omitted Information</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.5in">No significant facts remain confidential in,
and no information has been omitted from, this report.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><B>Executive Officer</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">If further information is required, please contact Jeremy Rakusin,
Chief Financial Officer, at 416-960-9566.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><B>Date of Report</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in">DATED at Toronto, Ontario this 3<SUP>rd</SUP> day of
October, 2022.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>EXHIBIT 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Execution Version</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>NOTE PURCHASE AND PRIVATE
SHELF AGREEMENT</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">________________________________</P>
<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>Dated
as of September 29, 2022</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>U.S.$300,000,000
Private Shelf Facility</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">1.&nbsp;&nbsp;&nbsp;AUTHORIZATION OF NOTES.</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 6pt">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.1.&nbsp;&nbsp;&nbsp;Authorization of Issue of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">1.2.&nbsp;&nbsp;&nbsp;Defined Terms.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">2.&nbsp;&nbsp;&nbsp;PURCHASE AND SALE OF NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.1.&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">2.2.&nbsp;&nbsp;&nbsp;Purchase and Sale of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">3.&nbsp;&nbsp;&nbsp;CLOSING.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.1.&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.2.&nbsp;&nbsp;&nbsp;Closings.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">3.3.&nbsp;&nbsp;&nbsp;Rescheduled Closings.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">4.&nbsp;&nbsp;&nbsp;CONDITIONS TO CLOSING.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">4.1.&nbsp;&nbsp;&nbsp;Conditions of Facility Effectiveness.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">4.2.&nbsp;&nbsp;&nbsp;Conditions to each Closing of the Purchase and Sale of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">5.&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF THE COMPANY.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.1.&nbsp;&nbsp;&nbsp;Organization; Power and Authority.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.2.&nbsp;&nbsp;&nbsp;Authorization, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.3.&nbsp;&nbsp;&nbsp;Disclosure.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.4.&nbsp;&nbsp;&nbsp;Organization and Ownership of Shares of Subsidiaries; Affiliates.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">12</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.5.&nbsp;&nbsp;&nbsp;Financial Statements.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.6.&nbsp;&nbsp;&nbsp;Compliance with Laws, Other Instruments, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.7.&nbsp;&nbsp;&nbsp;Governmental Authorizations, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.8.&nbsp;&nbsp;&nbsp;Litigation; Observance of Agreements, Statutes and Orders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.9.&nbsp;&nbsp;&nbsp;Taxes; Foreign Taxes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">15</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.10.&nbsp;&nbsp;&nbsp;Title to Property; Leases.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">15</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.11.&nbsp;&nbsp;&nbsp;Licenses, Permits, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.12.&nbsp;&nbsp;&nbsp;Compliance with ERISA; Foreign Pension Plans.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.13.&nbsp;&nbsp;&nbsp;Offering of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">17</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.14.&nbsp;&nbsp;&nbsp;Use of Proceeds; Margin Regulations.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">17</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.15.&nbsp;&nbsp;&nbsp;Existing Indebtedness; Future Liens.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.16.&nbsp;&nbsp;&nbsp;Foreign Assets Control Regulations, Etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.17.&nbsp;&nbsp;&nbsp;Status under Certain Statutes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.18.&nbsp;&nbsp;&nbsp;Environmental Matters.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.19.&nbsp;&nbsp;&nbsp;Ranking.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.20.&nbsp;&nbsp;&nbsp;Guarantees.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.21.&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.22.&nbsp;&nbsp;&nbsp;Chief Executive Office.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">5.23.&nbsp;&nbsp;&nbsp;Previous Acquisitions.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">21</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">(continued)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in; width: 90%">6.&nbsp;&nbsp;&nbsp;REPRESENTATIONS OF THE PURCHASERS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt; width: 10%">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">6.1.&nbsp;&nbsp;&nbsp;Purchase for Investment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">6.2.&nbsp;&nbsp;&nbsp;Source of Funds.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">7.&nbsp;&nbsp;&nbsp;INFORMATION AS TO THE COMPANY.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.1.&nbsp;&nbsp;&nbsp;Financial and Business Information.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.2.&nbsp;&nbsp;&nbsp;Officer&#8217;s Certificate.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.3.&nbsp;&nbsp;&nbsp;Inspection.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">7.4.&nbsp;&nbsp;&nbsp;Electronic Delivery.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">8.&nbsp;&nbsp;&nbsp;PREPAYMENT OF THE NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.1.&nbsp;&nbsp;&nbsp;Required Prepayments; Maturity.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.2.&nbsp;&nbsp;&nbsp;Optional Prepayments with Make-Whole Amount.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.3.&nbsp;&nbsp;&nbsp;Prepayment in Connection with a Payment under Section 13.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.4.&nbsp;&nbsp;&nbsp;Offer to Prepay upon Certain Events.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">30</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.5.&nbsp;&nbsp;&nbsp;Notices, Etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.6.&nbsp;&nbsp;&nbsp;Allocation of Partial Prepayments.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.7.&nbsp;&nbsp;&nbsp;Maturity; Surrender, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.8.&nbsp;&nbsp;&nbsp;Purchase of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">8.9.&nbsp;&nbsp;&nbsp;Make-Whole Amount.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">9.&nbsp;&nbsp;&nbsp;AFFIRMATIVE COVENANTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">35</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.1.&nbsp;&nbsp;&nbsp;Compliance with Laws.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">35</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.2.&nbsp;&nbsp;&nbsp;Insurance.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.3.&nbsp;&nbsp;&nbsp;Maintenance of Properties.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.4.&nbsp;&nbsp;&nbsp;Payment of Taxes and Claims.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.5.&nbsp;&nbsp;&nbsp;Corporate Existence, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.6.&nbsp;&nbsp;&nbsp;Ranking.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.7.&nbsp;&nbsp;&nbsp;Additional Guarantors.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.8.&nbsp;&nbsp;&nbsp;Release of Guarantees, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.9.&nbsp;&nbsp;&nbsp;Most Favored Lender.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">38</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">9.10.&nbsp;&nbsp;&nbsp;Rating on the Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">10.&nbsp;&nbsp;&nbsp;NEGATIVE COVENANTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.1.&nbsp;&nbsp;&nbsp;Transactions with Affiliates.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.2.&nbsp;&nbsp;&nbsp;Merger, Consolidation, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.3.&nbsp;&nbsp;&nbsp;Liens.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">41</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.4.&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">43</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.5.&nbsp;&nbsp;&nbsp;Leverage Ratio.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">43</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.6.&nbsp;&nbsp;&nbsp;Interest Coverage Ratio.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.7.&nbsp;&nbsp;&nbsp;Subsidiary Indebtedness.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.8.&nbsp;&nbsp;&nbsp;Limitation on Priority Debt.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.9.&nbsp;&nbsp;&nbsp;Disposition of Assets.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.10.&nbsp;&nbsp;&nbsp;Terrorism Sanction Regulations.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">46</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">(continued)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in; width: 90%">10.11.&nbsp;&nbsp;&nbsp;Line of Business.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in; width: 10%">46</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.12.&nbsp;&nbsp;&nbsp;Restricted Payments.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">46</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.13.&nbsp;&nbsp;&nbsp;Acquisitions.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.14.&nbsp;&nbsp;&nbsp;Amendments to Call Options.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">10.15.&nbsp;&nbsp;&nbsp;Canadian Pension Plans.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">11.&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">12.&nbsp;&nbsp;&nbsp;REMEDIES ON DEFAULT, ETC.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.1.&nbsp;&nbsp;&nbsp;Acceleration.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.2.&nbsp;&nbsp;&nbsp;Other Remedies.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.3.&nbsp;&nbsp;&nbsp;Rescission.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">12.4.&nbsp;&nbsp;&nbsp;No Waivers or Election of Remedies, Expenses, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">13.&nbsp;&nbsp;&nbsp;TAX INDEMNIFICATION.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">14.&nbsp;&nbsp;&nbsp;[RESERVED].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">15.&nbsp;&nbsp;&nbsp;REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">15.1.&nbsp;&nbsp;&nbsp;Registration of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">15.2.&nbsp;&nbsp;&nbsp;Transfer and Exchange of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">15.3.&nbsp;&nbsp;&nbsp;Replacement of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">16.&nbsp;&nbsp;&nbsp;PAYMENTS ON NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">16.1.&nbsp;&nbsp;&nbsp;Place of Payment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">16.2.&nbsp;&nbsp;&nbsp;Home Office Payment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">17.&nbsp;&nbsp;&nbsp;EXPENSES, ETC.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">17.1.&nbsp;&nbsp;&nbsp;Transaction Expenses.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">17.2.&nbsp;&nbsp;&nbsp;Taxes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">17.3.&nbsp;&nbsp;&nbsp;Survival.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">18.&nbsp;&nbsp;&nbsp;SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">19.&nbsp;&nbsp;&nbsp;AMENDMENT AND WAIVER.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.1.&nbsp;&nbsp;&nbsp;Requirements.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.2.&nbsp;&nbsp;&nbsp;Solicitation of Holders of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.3.&nbsp;&nbsp;&nbsp;Binding Effect, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">19.4.&nbsp;&nbsp;&nbsp;Notes held by the Company, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">20.&nbsp;&nbsp;&nbsp;NOTICES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">21.&nbsp;&nbsp;&nbsp;REPRODUCTION OF DOCUMENTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">22.&nbsp;&nbsp;&nbsp;CONFIDENTIAL INFORMATION.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">61</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">(continued)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in; width: 90%">23.&nbsp;&nbsp;&nbsp;[RESERVED].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt; width: 10%">62</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">24.&nbsp;&nbsp;&nbsp;JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">62</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">25.&nbsp;&nbsp;&nbsp;OBLIGATION TO MAKE PAYMENTS IN U.S. DOLLARS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">26.&nbsp;&nbsp;&nbsp;MISCELLANEOUS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.1.&nbsp;&nbsp;&nbsp;Successors and Assigns.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.2.&nbsp;&nbsp;&nbsp;Payments Due on Non-Business Days.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.3.&nbsp;&nbsp;&nbsp;Severability.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.4.&nbsp;&nbsp;&nbsp;Construction.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.5.&nbsp;&nbsp;&nbsp;Statement of Interest Rate.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.6.&nbsp;&nbsp;&nbsp;Counterparts.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.7.&nbsp;&nbsp;&nbsp;Governing Law.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.8.&nbsp;&nbsp;&nbsp;Accounting Terms.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">26.9.&nbsp;&nbsp;&nbsp;Transaction References.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">66</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><U></U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><U>Schedules and Exhibits</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%; text-align: left; text-indent: 0in">Schedule A</TD>
    <TD STYLE="width: 5%; text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="width: 74%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Defined Terms</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule B</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Unrestricted Entities</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Information Schedule</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Authorized Officers</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.3</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Disclosure Materials</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(a)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Subsidiaries and Ownership of Subsidiary Stock</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(b)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Company Organizational Chart</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(c)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Directors and Senior Officers</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(d)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Restrictive Agreements</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.5</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Financial Statements</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.8</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Certain Litigation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.11</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Licenses, Permits, etc.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.15</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Existing Indebtedness/Liens</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit A</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Note</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit B</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Request for Purchase</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit C</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Confirmation of Acceptance</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit D</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Guarantee</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">1155 Bay Street, Suite 600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Toronto, Ontario</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Canada M5R 2A9</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>U.S.$300,000,000 Private Shelf
Facility</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">As of September 29, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">To PGIM, Inc. (&#8220;<B>Prudential</B>&#8221;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">To
each Prudential Affiliate (as hereinafter defined)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">which becomes bound by certain
provisions of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">this Agreement as hereinafter provided
(each a &#8220;<B>Purchaser</B>&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">and collectively, the &#8220;<B>Purchasers</B>&#8221;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">c/o Prudential Private Capital<BR>
1114 Avenue of the Americas, 30th Floor<BR>
New York, NY 10036</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>FIRSTSERVICE CORPORATION</B>,
a company incorporated under the laws of Ontario, Canada (or any successor thereto that shall have become such in the manner prescribed
in Section 10.2, the <B>&#8220;Company&#8221;</B>), agrees with Prudential and each of the Purchasers as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">AUTHORIZATION OF NOTES.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization of Issue of Notes.</B> The Company may, from time to time and in accordance with the terms of this Agreement, authorize
the issue of senior promissory notes (as amended, restated or otherwise modified from time to time pursuant to Section 19 and including
any such notes delivered in substitution, replacement or exchange therefor pursuant to this Agreement, the &#8220;<B>Notes</B>&#8221;)
in the aggregate principal amount of up to U.S.$300,000,000 at any time (subject to the Available Facility Amount), each to be dated the
date of its issue, bearing interest on the unpaid balance from the date of original issuance at the rate per annum as provided by the
terms of this Agreement, to mature no later than 12 years after the date of original issuance, to have an Average Life of no more than
12 years after the date of original issuance thereof. Each Note will also be subject to the other terms of that Note as described in the
Confirmation of Acceptance for such Note delivered pursuant to Section 2.2(e). Each Note will be substantially in the form of Exhibit
A attached hereto. Notes which have (i) the same final maturity, (ii) the same principal prepayment dates, (iii) the same principal prepayment
amounts (as a percentage of the original principal amount of each Note), (iv) the same interest rate, (v) the same interest payment periods
and (vi) the same date of issuance (which, in the case of a Note issued in exchange for another Note, shall be deemed for these purposes
the date on which such Note&#8217;s ultimate predecessor Note was issued), are herein called a &#8220;<B>Series</B>&#8221; of Notes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Defined Terms.</B> Certain capitalized terms used in this Agreement are defined in Schedule A hereto and, for purposes of this
Agreement, the rules of construction set forth in Section 26.4 shall govern; references to a &#8220;Schedule&#8221; or an &#8220;Exhibit&#8221;
are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify">PURCHASE AND SALE OF NOTES.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase and Sale of Notes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Facility</B>. Prudential is willing to consider, in its sole discretion and within limits that may be authorized for purchase
by Prudential Affiliates from time to time, the purchase of Notes pursuant to this Agreement. The willingness of Prudential to consider
such purchase of Notes is herein called the &#8220;<B>Facility</B>&#8221;. At any time, the aggregate principal amount of Notes stated
in Section 1.1, minus the aggregate principal amount of Notes purchased and sold pursuant to this Agreement prior to such time and outstanding
at such time, minus the aggregate principal amount of the 2015 Prudential Notes outstanding at such time, minus the aggregate principal
amount of Accepted Notes (as defined in Section 2.2(e)) which have not yet been purchased and sold hereunder prior to such time, is herein
called the &#8220;<B>Available Facility Amount</B>&#8221; at such time. The Available Facility Amount shall be increased from time to
time by the principal amount of any 2015 Prudential Notes or other outstanding Series of Notes which is repaid or prepaid prior to the
expiration of the Issuance Period. The Available Facility Amount as of the date of this Agreement will be U.S.$255,000,000. NOTWITHSTANDING
THE WILLINGNESS OF PRUDENTIAL TO CONSIDER PURCHASES OF NOTES BY PRUDENTIAL AFFILIATES, THIS AGREEMENT IS ENTERED INTO ON THE EXPRESS UNDERSTANDING
THAT NEITHER PRUDENTIAL NOR ANY PRUDENTIAL AFFILIATE SHALL BE OBLIGATED TO MAKE OR ACCEPT OFFERS TO PURCHASE NOTES, OR TO QUOTE RATES,
SPREADS OR OTHER TERMS WITH RESPECT TO SPECIFIC PURCHASES OF NOTES, AND THE FACILITY SHALL IN NO WAY BE CONSTRUED AS A COMMITMENT BY PRUDENTIAL
OR ANY PRUDENTIAL AFFILIATE. WITH RESPECT TO THIS AGREEMENT, PRUDENTIAL IS ACTING SOLELY FOR THE PRUDENTIAL AFFILIATES AND IS NEITHER
ACTING FOR THE COMPANY NOR SEEKING SUBSCRIBERS NOR PURCHASERS OF COMPANY SECURITIES ON BEHALF OF THE COMPANY. FOR THE AVOIDANCE OF DOUBT,
PRUDENTIAL IS NOT PROVIDING PLACEMENT SERVICES TO THE COMPANY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Issuance Period</B>. Notes may be issued and sold pursuant to this Agreement until the earlier of (i) the third anniversary
of the date of this Agreement (or if such anniversary is not a Business Day, the Business Day next preceding that anniversary), (ii) the
thirtieth day after Prudential shall have given to the Company, or the Company shall have given to Prudential, a written notice stating
that Prudential or the Company, as applicable, elects to terminate the issuance and sale of Notes pursuant to this Agreement (or if such
thirtieth day is not a New York Business Day, the New York Business Day next preceding such thirtieth day), (iii) the termination of the
Facility under Section 12 of this Agreement and (iv) the acceleration of any Note under Section 12 of this Agreement. The period during
which Notes may be issued and sold pursuant to this Agreement is herein called the &#8220;<B>Issuance Period</B>&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not later than 9:30 a.m. on
a Business Day during the Issuance Period if there is an Available Facility Amount on such Business Day, the Company may request by telephone
or e-mail, and Prudential will, to the extent reasonably practicable, provide to the Company on such Business Day (or, if such request
is received after 9:30 a.m. on such Business Day, on the following Business Day), information (by telephone or e-mail) with respect to
various spreads at which Prudential Affiliates might be interested in purchasing Notes of different average lives; provided, however,
that the Company may not make such requests more frequently than once in every five Business Days or such other period as shall be mutually
agreed to by the Company and Prudential. The amount and content of information so provided shall be in the sole discretion of Prudential.
However, it is the intent of Prudential to provide information that will be of use to the Company in determining whether to initiate procedures
for use of the Facility. Information so provided shall not constitute an offer to purchase Notes, and neither Prudential nor any Prudential
Affiliate shall be obligated to purchase Notes at the spreads specified. Information so provided shall be representative of potential
interest only for the period commencing on the day such information is provided and ending on the earlier of the fifth Business Day after
such day and the first day after such day on which further spread information is provided. Prudential may suspend or terminate providing
information pursuant to this Section 2.2(b) for any reason in its sole discretion, including its determination that the credit quality
of the Company has declined since the date of this Agreement or in the event of a Market Disruption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Request for Purchase</B>. The Company may from time to time during the Issuance Period make requests for purchases of Notes
(each such request being herein called a &#8220;<B>Request for Purchase</B>&#8221;). Each Request for Purchase shall be made to Prudential
by e-mail (with .pdf attachment) or overnight delivery service, and shall (i) specify the aggregate principal amount of Notes covered
thereby, which shall not be less than U.S.$10,000,000 and not be greater than the Available Facility Amount at the time such Request for
Purchase is made, (ii) specify the principal amounts, final maturities (which shall not be greater than 12 years from the date of issuance),
Average Life (which shall be no more than 12 years from the date of issuance), principal prepayment dates and amounts and interest payment
periods (which must be either quarterly or semi-annually in arrears) of the Notes covered thereby, (iii) specify the use of proceeds of
such Notes, (iv) contain an undertaking that such proceeds will not be used for a Hostile Tender Offer, (v) specify the proposed day for
the closing of the purchase and sale of such Notes, which shall be a Business Day during the Issuance Period (except if extended beyond
the end of the Issuance Period by mutual agreement of the Company and Prudential) not less than 10 Business Days and not more than 25
Business Days after the making of such Request for Purchase (and which day may be extended by mutual agreement of the Company and Prudential),
(vi) specify the number of the account and the name and address of the depository institution to which the purchase prices of such Notes
are to be transferred on the Closing Date for such purchase and sale, (vii) certify that the representations and warranties contained
in Section 5 (as may be updated by the Company pursuant to such Request for Purchase) are true on and as of the date of such Request for
Purchase (except for such representations and warranties as are made as of a date certain) and that there exists on the date of such Request
for Purchase no Event of Default or Default, and (viii) be substantially in the form of <U>Exhibit B</U> attached hereto. Each Request
for Purchase shall be in writing signed by the Company and shall be deemed made <FONT CLASS="DeltaViewInsertion" STYLE="font-weight: normal">on
the same Business Day as the email required pursuant to this Section 2.2(c) has been sent</FONT> by the Company to Prudential and if such
day of sending is not a Business Day, then on the next following Business Day.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Rate Quotes</B>. Not later than five New York Business Days (provided Prudential is also open for business on each such day)
after the Company shall have given Prudential a Request for Purchase pursuant to Section 2.2(c), Prudential may, but shall be under no
obligation to, provide to the Company by telephone or e-mail (with signed .pdf attachment), in each case between 9:30 a.m. and 1:30 p.m.
(or such later time as Prudential may elect) interest rate quotes (which quotes will be for fixed interest rates only) for the several
principal amounts, maturities, principal prepayment schedules and interest payment periods of Notes specified in such Request for Purchase
(each such interest rate quote provided in response to a Request for Purchase herein called a &#8220;<B>Quotation</B>&#8221;). Each Quotation
shall represent the interest rate per annum payable on the outstanding principal balance of such Notes at which Prudential or a Prudential
Affiliate would be willing to purchase such Notes at 100% of the principal amount thereof and shall specify the time period (to be 2 minutes
or such lesser or greater time agreed by Prudential in its sole discretion) within which the Company may elect to accept the Quotation
(the &#8220;<B>Acceptance Window</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Acceptance</B>. Within the Acceptance Window, an Authorized Officer of the Company may, subject to Section 2.2(f), elect to
accept on behalf of the Company a Quotation as to the aggregate principal amount of the Notes specified in the related Request for Purchase
(each such Note being herein called an &#8220;<B>Accepted Note</B>&#8221;, and collectively, the &#8220;<B>Accepted Notes</B>&#8221;,
and such acceptance being herein called an &#8220;<B>Acceptance</B>&#8221;); provided, however that no Acceptance can be made with respect
to any Quotation at any time prior to 9:30 a.m. or later than 2:00 p.m. The day the Company notifies Prudential of an Acceptance with
respect to any Accepted Notes is herein called the &#8220;<B>Acceptance Day</B>&#8221; for such Accepted Notes. Any Quotation as to which
Prudential does not receive an Acceptance within the Acceptance Window shall expire, and no purchase or sale of Notes hereunder shall
be made based on any such expired Quotation. Subject to Section 2.2(f) and the other terms and conditions hereof, the Company agrees to
sell to a Prudential Affiliate, and Prudential agrees to cause the purchase by a Prudential Affiliate of, the Accepted Notes at 100% of
the principal amount of such Notes. Within three Business Days following the Acceptance Day, the Company, Prudential and each Prudential
Affiliate which is to purchase any such Accepted Notes will execute a confirmation of such Acceptance substantially in the form of <U>Exhibit
C</U> attached hereto (herein called a &#8220;<B>Confirmation of Acceptance</B>&#8221;). If the Company should fail to execute and return
to Prudential within three Business Days following the Company&#8217;s receipt thereof a Confirmation of Acceptance with respect to any
Accepted Notes, Prudential may at its election at any time prior to Prudential&#8217;s receipt thereof cancel the closing with respect
to such Accepted Notes by so notifying the Company in writing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Market Disruption</B>. Notwithstanding the provisions of Section 2.2(e), any Quotation provided pursuant to Section 2.2(d) shall
expire if, prior to the time an Acceptance with respect to such Quotation shall have been notified to Prudential in accordance with Section
2.2(e), the domestic market for U.S. Treasury securities or derivatives shall have closed or there shall have occurred a general suspension,
material limitation, or significant disruption of trading in securities generally on the New York Stock Exchange or in the domestic market
for U.S. Treasury securities or derivatives. No purchase or sale of Notes hereunder shall be made based on such expired Quotation. If
the Company thereafter notifies Prudential of the Acceptance of any such Quotation, such Acceptance shall be ineffective for all purposes
of this Agreement, and Prudential shall promptly notify the Company that the provisions of this Section 2.2(f) are applicable with respect
to such Acceptance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Fees</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Structuring Fee</B>. In consideration for the time, effort and expense involved in the preparation, negotiation and execution
of this Agreement, at the time of the execution and delivery of this Agreement by the Company and Prudential, the Company will pay to
Prudential in immediately available funds a fee (herein called the &#8220;<B>Structuring Fee</B>&#8221;) in the amount of U.S.$75,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Delayed Delivery Fee</B>. If the closing of the purchase and sale of any Accepted Note is delayed for any reason (other than
as a result of a Purchaser Non-Performance) beyond the original Closing Date for such Accepted Note, the Company shall pay to each Purchaser
which shall have agreed to purchase such Accepted Note on the Cancellation Date or actual Closing Date of such purchase and sale, an amount
(herein called the &#8220;<B>Delayed Delivery Fee</B>&#8221;) equal to the product of (A) the amount determined by Prudential to be the
amount by which the bond equivalent yield per annum of such Accepted Note exceeds the investment rate per annum on an alternative U.S.
Dollar investment of the highest quality selected by Prudential and having a maturity date or dates the same as, or closest to, the Rescheduled
Closing Date from time to time fixed for the delayed delivery of such Accepted Note, (B) the principal amount of such Accepted Note, and
(C) a fraction the numerator of which is equal to the number of actual days elapsed from and including the original Closing Date for such
Accepted Note to but excluding the date of payment of such Delayed Delivery Fee, and the denominator of which is 360. In no case shall
the Delayed Delivery Fee be less than zero. The Delayed Delivery Fee shall be paid in U.S. Dollars. Nothing contained herein shall obligate
any Purchaser to purchase any Accepted Note on any day other than the Closing Date for such Accepted Note, as the same may be rescheduled
from time to time in compliance with Section 3.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Cancellation Fee</B>. If the Company at any time notifies Prudential in writing that the Company is canceling the closing of
the purchase and sale of any Accepted Note, or if Prudential notifies the Company in writing under the circumstances set forth in the
last sentence of Section 2.2(e) or the penultimate sentence of Section 3.3 that the closing of the purchase and sale of such Accepted
Note is to be canceled, or if the closing of the purchase and sale of such Accepted Note is not consummated on or prior to the last day
of the Issuance Period or such later date as agreed pursuant to Section 2.2(c) (the date of any such notification, or the last day of
the Issuance Period or such later date, as the case may be, being herein called the &#8220;<B>Cancellation Date</B>&#8221;), the Company
shall pay to each Purchaser which shall have agreed to purchase such Accepted Note in immediately available funds no later than one day
after the Cancellation Date an amount (the &#8220;<B>Cancellation Fee</B>&#8221;) equal to the product of (A) the principal amount of
such Accepted Note and (B) the quotient (expressed in decimals) obtained by dividing (1) the excess of the ask price (as determined by
Prudential) of the Hedge Treasury Note(s) on the Cancellation Date over the bid price (as determined by Prudential) of the Hedge Treasury
Note(s) on the Acceptance Day for such Accepted Note by (2) such bid price, with the foregoing bid and ask prices as reported by TradeWeb
LLC, or if such information ceases to be available from TradeWeb LLC, any publicly available source of such market data selected by Prudential,
and rounded to the second decimal place.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD><TD STYLE="text-align: justify">CLOSING.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Closings.</B> The closing of the sale and purchase of any Series of Notes to be purchased by the Purchasers shall occur at the
offices of Akin Gump Strauss Hauer &amp; Feld LLP, One Bryant Park, New York, NY 10036-6745 (or such other place as designated by Prudential)
no later than 11:30 a.m. at a closing (a &#8220;<B>Closing</B>&#8221;) on the Closing Date specified for such sale and purchase in the
Confirmation of Acceptance delivered by the Purchasers in connection with such Series. At such Closing, the Company will deliver to each
Purchaser the Notes of the Series to be purchased by such Purchaser in the form of a single Note of such Series (or such greater number
of such Notes in minimum denominations of at least U.S.$100,000, as the Purchasers may request), dated the Closing Date and registered
in such Purchaser&#8217;s name (or in the name of such Purchaser&#8217;s nominee), as indicated in the applicable Confirmation of Acceptance,
against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price therefor
as directed by the Company in the applicable Funding Instruction Letter delivered to such Purchaser with respect to such Notes pursuant
to Section 4.2(m) hereof. The obligation of each Purchaser to purchase the Notes to be sold to it on any Closing Date is subject to the
satisfaction, on or before each such Closing Date, of the conditions set forth in Section 4 below. If, on such Closing Date, the Company
fails to tender to the Purchasers the Notes to be acquired by such Purchasers on such Closing Date, or if the conditions specified in
Section 4 have not been fulfilled to each Purchaser&#8217;s satisfaction, such Purchaser shall, at its election, be relieved of all further
obligations under this Agreement without thereby waiving any rights each such Purchaser may have by reason of such failure or such nonfulfillment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rescheduled Closings.</B> If the Company fails to tender to any Purchaser the Accepted Notes to be purchased by such Purchaser
on the scheduled Closing Date for such Accepted Notes as provided above in Section 3.2, or any of the conditions specified in Section
4 shall not have been fulfilled by the time required on such scheduled Closing Date, the Company shall, prior to 1:00 p.m. on such scheduled
Closing Date, notify Prudential (which notification shall be deemed received by each Purchaser) in writing whether (a) such Closing is
to be rescheduled (such rescheduled date to be a Business Day during the Issuance Period not less than one Business Day and not more than
10 Business Days after such scheduled Closing Date (the &#8220;<B>Rescheduled Closing Date</B>&#8221;)) and certify to Prudential (which
certification shall be for the benefit of each Purchaser) that the Company reasonably believes that it will be able to comply with the
conditions set forth in Section 4 on such Rescheduled Closing Date and that the Company will pay the Delayed Delivery Fee in accordance
with Section 2.2(g)(ii), or (b) such Closing is to be canceled. In the event that the Company shall fail to give such notice referred
to in the preceding sentence, Prudential (on behalf of each Purchaser) may at its election, at any time after 1:00 p.m. on such scheduled
Closing Date, notify the Company in writing that such Closing is to be canceled. Notwithstanding anything to the contrary appearing in
this Agreement, the Company may not elect to reschedule a closing with respect to any given Accepted Notes on more than one occasion,
unless Prudential shall have otherwise consented in writing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="text-align: justify">CONDITIONS TO CLOSING.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions of Facility Effectiveness.</B> <FONT STYLE="font-family: Times New Roman, Times, Serif">The obligation of Prudential
to enter into this Agreement and the obligation of Prudential to make the Facility available to the Company is subject to the satisfaction,
on or before the date hereof, of the following conditions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U>. The representations and warranties of the Company set forth in this Agreement shall be correct
as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance; No Default</U>. The Company shall have performed and complied with all agreements and conditions contained in this
Agreement required to be performed or complied with by the Company on or prior to the date hereof. No Default or Event of Default shall
have occurred and be continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Changes in Corporate Structure</U>. The Company shall not have changed its jurisdiction of incorporation or formation (as applicable)
or been a party to any amalgamation, merger or consolidation or shall have succeeded to all or any substantial part of the liabilities
of any other entity, at any time following the date of the most recent financial statements referred to in <U>Schedule 5.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>This Agreement</U>. This Agreement shall have been duly executed and delivered by each of the parties hereto and thereto and
shall be in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance Certificates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Closing Certificate</I>. The Company shall have delivered to Prudential an Officer&#8217;s Certificate, dated the date hereof,
certifying that the conditions specified in Section 4.1(a), Section 4.1(b) and Section 4.1(c) have been fulfilled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&#8217;s Certificate</I>. The Company shall have delivered to Prudential an Officer&#8217;s Certificate, dated the date
hereof, certifying as to (A) the resolutions attached thereto and other corporate or other (as applicable) proceedings relating to the
authorization, execution and delivery of this Agreement, (B) its organizational documents as then in effect and (C) the names, offices
and specimen signatures of the officers of the Company executing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Credit Agreement</U>. The Company shall have delivered to Prudential copies of the Credit Agreement (including all amendments
thereto) and each of the other principal instruments and agreements executed and/or delivered in connection therewith, in each case, certified
as true and correct by a Responsible Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>2015 Note Purchase Agreement</U>. The Company shall have delivered to Prudential copies of the 2015 Note Purchase Agreement
(including all amendments thereto) and each of the other principal instruments and agreements executed and/or delivered in connection
therewith, in each case, certified as true and correct by a Responsible Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>2022 NYL Shelf Agreement</U>. The Company shall have delivered to Prudential copies of the 2022 NYL Shelf Agreement (including
all amendments thereto) and each of the other principal instruments and agreements executed and/or delivered in connection therewith,
in each case, certified as true and correct by a Responsible Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Prudential Fees</U>. The Company shall have paid to Prudential any fees due to it pursuant to or in connection with
this Agreement, including the Structuring Fee.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions to each Closing of the Purchase and Sale of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligation of each Purchaser
to purchase and pay for any Accepted Notes is subject to the satisfaction, on or before the applicable Closing Date for such Accepted
Notes, of the following conditions set forth in this Section 4.2:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U>. The representations and warranties of the Company and the Guarantors in each Financing Document
shall be correct when made and at such Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance; No Default</U>. The Company and each of the Guarantors shall have performed and complied with all agreements and
conditions contained in each Financing Document required to be performed or complied with by the Company or such Guarantor prior to or
at such Closing. No Default or Event of Default shall have occurred and be continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notes</U>. Contemporaneously with such Closing, the Company shall sell to each other Purchaser and each other Purchaser shall
purchase the Notes to be purchased by it at such Closing as specified in the Confirmation of Acceptance with respect to such Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Private Placement Number</U>. A Private Placement Number issued by the PPN CUSIP Unit of CUSIP Global Services (in cooperation
with the SVO) shall have been obtained for each Series of Notes to be issued on such Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Guarantees; Confirmation of Guarantees</U>. With respect to the first Closing following the date of this Agreement, such Purchaser
shall have received a true and complete copy of each Guarantee, duly executed and delivered by each Person that meets the criteria set
forth in the definition of &#8220;Guarantor&#8221; set forth in Schedule A hereto as of such Closing Date, and each such Guarantee shall
be in full force and effect. With respect to each Closing following such first Closing, each Purchaser shall have received a confirmation
and reaffirmation of guarantee, dated as of such Closing Date, from each Guarantor with respect to each of the then existing Guarantees,
in form and substance satisfactory to such Purchaser, with respect to the Notes being issued on such Closing Date (each, a &#8220;<B>Confirmation
of Guarantee</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Purchase Permitted by Applicable Law, Etc</U>. The purchase of and payment for the Notes to be purchased by such Purchaser on
such Closing Date on the terms and conditions herein provided (including the use of the proceeds of such Notes issued on such Closing
Date) shall (i) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to
provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction
as to the character of the particular investment, (ii) not violate any applicable law or regulation (including, without limitation, Regulation
T, U or X of the Board of Governors of the Federal Reserve System) and (iii) not subject any Purchaser to any tax, penalty, liability
or other onerous condition under or pursuant to any applicable law or regulation and such Purchaser shall have received such certificates
or other evidence as it may request to establish compliance with this condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance Certificates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Closing Certificate</I>. The Company shall have delivered to such Purchaser an Officer&#8217;s Certificate, dated such Closing
Date, certifying that the conditions specified in Section 4.2(a) and Section 4.2(b) have been fulfilled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&#8217;s Certificate</I>. The Company and each Guarantor shall have delivered to such Purchaser an Officer&#8217;s Certificate,
dated such Closing Date, certifying as to (A) the resolutions attached thereto and other corporate or other (as applicable) proceedings
relating to the authorization, execution and delivery of each Financing Document to which the Company or such Guarantor is a party, (B)
its organizational documents as then in effect and (C) the names, offices and specimen signatures of the officers of the Company and each
Guarantor executing documents; <U>provided</U> that on any Closing Date after the first Closing Date following the date of this Agreement
with respect to clause (B) above, such Officer&#8217;s Certificate may specify there have been no changes in such organizational documents
since such first Closing Date or any prior Closing Date thereafter on which such documents were delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Certificates of Legal Existence</I>. The Company shall have delivered a certificate of status or another certificate of good
standing or legal existence, as applicable, with respect to the Company and each Guarantor from the appropriate Governmental Authority
of its jurisdiction of organization dated within 10 days of such Closing Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Opinions of Counsel</U>. Such Purchaser shall have received customary opinions in form and substance reasonably satisfactory
to such Purchaser, dated the date of such Closing (i) from (A)&nbsp;Fox Rothschild LLP, U.S. counsel for the Company and the Guarantors,
(B)&nbsp;Fogler Rubinoff, LLP, Canadian counsel for the Company and the Guarantors and (C) local counsel for the Company and the Guarantors
in applicable jurisdictions (which counsel shall be reasonably acceptable to the Purchasers), and (ii)&nbsp;from Akin Gump Strauss Hauer
&amp; Feld LLP, special U.S. counsel to the Purchasers, or other counsel selected by Prudential, covering such matters relating to such
transactions as the Purchasers may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Evidence of Consent to Receive Service of Process</U>. Such Purchaser shall have received, in form and substance satisfactory
to such Purchaser, written evidence of the consent of Corporation Service Company, located at 19 West 44th Street, Suite 200, New York,
NY 10036, to the appointment and designation provided for by Section 24 hereof for the period from the date of the first Closing under
this Agreement through the date that is the first anniversary of the latest Maturity Date of the Notes then outstanding or to be issued
on such Closing Date (and the payment in full of all fees in respect thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Debt Rating</U>. With respect to such Closing, the Company shall have delivered, or caused to be delivered, to each Purchaser,
(i) a Private Rating Letter issued by an Acceptable Rating Agency setting forth the initial Debt Rating for each Series of Notes to be
issued at such Closing and each other Series of Notes then outstanding, and (ii) the related Private Rating Rationale Report with respect
to such Debt Rating.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Prudential Fees</U>. The Company shall have paid to Prudential any fees due to it pursuant to or in connection with
this Agreement, including any Delayed Delivery Fee due pursuant to Section 2.2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Special Counsel Fees, etc</U>. Without limiting the provisions of Section 17.1, the Company shall have paid on or
before such Closing Date any fees due and owing and the reasonable fees, charges and disbursements of Akin Gump Strauss Hauer &amp; Feld
LLP, as special U.S. counsel to the Purchasers to the extent reflected in a statement of such counsel rendered to the Company at least
one Business Day prior to such Closing Date. In addition, all taxes due in connection with the preparation, execution, delivery, filing,
recordation, registration and notarization of any Financing Document or any document furnished under or in connection with any Financing
Document shall have been paid in full by the Company and such Purchaser shall have received evidence thereof reasonably satisfactory to
such Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Funding Instruction Letter</U>. At least five (5) Business Days prior to such Closing Date, such Purchaser shall have received
a funding instruction letter signed by a Responsible Officer on letterhead of the Company confirming the Company&#8217;s account information
with respect to the funding of the purchase price for the Notes (the &#8220;<B>Funding Instruction Letter</B>&#8221;), which letter shall
include (i) the name and address of the transferee bank, (ii) such transferee bank&#8217;s ABA number/Swift Code/IBAN, (iii) the account
name and number into which the purchase price for such Notes is to be deposited and (iv) the telephone number and email address of a contact
at the Company and the bank who can confirm the account details set out in such letter.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Proceedings and Documents</U>. All corporate and other proceedings in connection with the transactions contemplated by the Financing
Documents and all documents and instruments incident to such transactions shall be satisfactory to such Purchaser and the Purchasers&#8217;
special counsel, and such Purchaser and such special counsel shall have received all such counterpart originals or certified or other
copies of such documents as such Purchaser or such special counsel may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD><TD STYLE="text-align: justify">REPRESENTATIONS AND WARRANTIES OF THE COMPANY.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company represents and
warrants to each Purchaser that:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Organization; Power and Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is a corporation
duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign
corporation and, if applicable, is in good standing in each jurisdiction in which such qualification is required by law, other than those
jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. The Company has the corporate power and authority to own or hold under lease the properties
it purports to own or hold under lease, to transact the business it transacts and proposes to transact as described in the Disclosure
Documents, to execute and deliver this Agreement, the Notes and each other Financing Document to which the Company is a party, and to
perform the provisions hereof and thereof.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement, the Notes
and each other Financing Document to which the Company is a party have been duly authorized by all necessary corporate action on the part
of the Company, and this Agreement constitutes and, upon execution and delivery thereof, each Note will constitute, legal, valid and binding
obligations of the Company enforceable against the Company in accordance with their respective terms, except, in each case, as such enforceability
may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors&#8217; rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding
in equity or at law).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has delivered
to each Purchaser a copy of its Annual Report on Form 40-F for the fiscal year ended December 31, 2021 (the &#8220;<B>Annual Report</B>&#8221;)
as filed with the SEC. The Annual Report fairly describes, in all material respects, the general nature of the business and principal
properties of the Company and its Subsidiaries as of the date of this Agreement. Except as disclosed in <U>Schedule 5.3</U>, this Agreement,
the other Financing Documents, the Annual Report (or in the case of any Series of Notes, the Company&#8217;s most recent Annual Report
on Form 40-F which has been filed with the SEC prior to the time Prudential provided the Quotation to the Company pursuant to Section
2.2(d) with respect to such Series of Notes), the documents, certificates or other writings delivered to Prudential and the applicable
Purchasers by or on behalf of the Company prior to the date of the applicable Quotation, with respect to any Series of Notes, in connection
with the transactions contemplated hereby and the financial statements listed in <U>Schedule&nbsp;5.5</U> or as otherwise described in
Section 5.5 (this Agreement, the Annual Report and such documents, certificates and other writings and such financial statements delivered
to Prudential and each applicable Purchaser with respect to the applicable purchase of Notes being referred to, collectively, as the <B>&#8220;Disclosure
Documents&#8221;</B>), taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure
Documents or as expressly described in <U>Schedule 5.3</U>, or in one of the documents, certificates or other writings identified therein,
or in the financial statements listed in <U>Schedule&nbsp;5.5</U>, since December 31, 2021 (or in the case of any Series of Notes, since
the end of the most recent fiscal year for which audited financial statements of the Company have been furnished prior to the time Prudential
provided the Quotation to the Company pursuant to Section 2.2(d) with respect to such Series of Notes), there has been no change, and
there is no fact known to the Company that could reasonably be expected to result in a change, in the financial condition, operations,
business, properties or prospects of the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably
be expected to have a Material Adverse Effect that has not been set forth herein or in the Disclosure Documents.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Organization and Ownership of Shares of Subsidiaries; Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Schedule 5.4(a)</U> contains (except as noted therein) complete and correct lists (i) of the Company&#8217;s Subsidiaries as
of the date of this Agreement, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the
percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other Subsidiary
and whether such Subsidiary is a Material Subsidiary and shall be a Guarantor and (ii) of the Company&#8217;s Affiliates, other than Subsidiaries.
<U>Schedule 5.4(b)</U> sets forth the corporate structure of the Company as of the date of this Agreement. <U>Schedule 5.4(c)</U> sets
forth the Company&#8217;s directors and senior officers as of the date of this Agreement. As of the applicable date of any applicable
Closing, no shareholder or group of related or affiliated shareholders of the Company owns, directly or indirectly, shares of the Company
having voting rights which are equal to or greater than thirty percent (30%) of the voting rights attached to all outstanding shares of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All of the outstanding shares of capital stock or similar equity interests of each Subsidiary owned by the Company and its Subsidiaries
have been validly issued, are fully paid and non-assessable and are owned by the Company or another Subsidiary free and clear of any Lien
(other than Permitted Liens).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Subsidiary of the Company is a corporation or other legal entity duly organized, validly existing and, if applicable, in good
standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and
is, if applicable, in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties
it purports to own or hold under lease and to transact the business it transacts and proposes to transact as described in the Disclosure
Documents and, in the case of the Guarantors, to execute and deliver the Financing Documents to which each is a party and to perform their
respective obligations thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction (other than this Agreement,
the agreements listed on <U>Schedule 5.4(d)</U>, the Credit Agreement, the 2015 Note Purchase Agreement, the 2022 NYL Shelf Agreement
and customary limitations imposed by corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out
of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of
capital stock or similar equity interests of such Subsidiary.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has delivered
to Prudential and each applicable Purchaser copies of the following financial statements, (a) as of the date hereof, the financial statements
listed on <U>Schedule 5.5</U>, and (b) with respect to any Closing, (i) a consolidated balance sheet of the Company and its Subsidiaries
as of the last day of each of the three fiscal years of the Company most recently completed prior to the date as of which this representation
is made or repeated (other than fiscal years completed within 90 days prior to such date for which audited financial statements have not
been released) and consolidated statements of earnings and cash flows of the Company and its Subsidiaries for each such year, all reported
on by independent chartered accountants of recognized international standing and (ii) a consolidated balance sheet of the Company and
its Subsidiaries as at the end of the quarterly period (if any) most recently completed prior to such date and after the end of the last
fiscal year referenced in clause (b)(i) above (other than quarterly periods completed within 45 days prior to such date for which financial
statements have not been released) and the comparable quarterly period in the preceding fiscal year and consolidated statements of earnings
and cash flows for the periods from the beginning of the fiscal year in which such quarterly periods are included to the end of such quarterly
periods, prepared by the Company. All of such financial statements (including in each case the related schedules and notes) fairly present
in all material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates thereof and
the consolidated earnings and cash flows for the respective periods so specified and have been prepared in accordance with U.S. GAAP consistently
applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements,
to normal year-end adjustments). The Company and its Subsidiaries do not have any Material liabilities that are not disclosed in the Disclosure
Documents.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with Laws, Other Instruments, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The execution, delivery and
performance by the Company of this Agreement, the Notes and the other Financing Documents to which the Company is a party, and by the
Subsidiaries of the Financing Documents to which they are parties, will not (a)&nbsp;contravene, result in any breach of, or constitute
a default under, or result in the creation of any Lien in respect of any property of the Company or any Subsidiary under, any indenture,
mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, partnership agreement, shareholders
agreement or any other agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary
or any of their respective properties may be bound or affected, (b) conflict with or result in a breach of any of the terms, conditions
or provisions of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority having jurisdiction over the
Company or any Subsidiary or (c) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable
to the Company or any Subsidiary.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governmental Authorizations, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No consent, approval or authorization
of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or
performance by the Company of this Agreement, the Notes or the other Financing Documents to which the Company is a party, and by the Subsidiaries
of the Financing Documents to which they are parties, including, without limitation, any thereof required in connection with the obtaining
of U.S. Dollars to make payments under this Agreement, the Notes or the other Financing Documents and the payment of such U.S. Dollars
to Persons resident in the United States of America or Canada, other than the execution and filing of a report of exempt trade on Form
45-501F1 under Rule 45-501 made under the <I>Securities Act </I>(Ontario) together with the requisite filing fee with the Ontario Securities
Commission (or any other applicable Canadian securities regulatory authority), within ten days of the sale and purchase of the Notes.
It is not necessary to ensure the legality, validity, enforceability or admissibility into evidence in Canada of this Agreement, the Notes
or the other Financing Documents that any thereof or any other document be filed, recorded or enrolled with any Governmental Authority,
or that any such agreement or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Litigation; Observance of Agreements, Statutes and Orders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as disclosed in <U>Schedule 5.8</U> (as such <U>Schedule 5.8</U> may be updated by the Company pursuant to any Request for
Purchase, subject to a Confirmation of Acceptance, if applicable), there are no actions, suits, investigations or proceedings pending
or, to the best knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company
or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that could, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary is (i) in default under any agreement or instrument to which it is a party or by which it
is bound, (ii) in violation of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or (iii) in violation
of any applicable law, ordinance, rule or regulation of any Governmental Authority (including without limitation Environmental Laws, the
USA PATRIOT Act or any of the other laws and regulations that are referred to in Section 5.16) of any Governmental Authority, which default
or violation could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Taxes; Foreign Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each Subsidiary have filed all tax returns that are required to have been filed in any jurisdiction, and have paid
all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets,
income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except
for any taxes and assessments (i)&nbsp;the amount of which, individually or in the aggregate, is not Material or (ii)&nbsp;the amount,
applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the
Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with U.S. GAAP. The Company knows of no basis
for any other tax or assessment that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Taxes for all fiscal periods are adequate.
All Canadian and U.S. federal income tax liabilities of the Company and the Subsidiaries have been finally determined (whether by reason
of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended December
31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No liability for any Tax imposed, assessed, levied or collected by or for the account of any Governmental Authority of or in Canada
or any political subdivision thereof or therein (an <B>&#8220;Applicable Taxing Authority&#8221;</B>) will be incurred by the Company
or any holder of a Note as a result of the execution or delivery of this Agreement or the Notes and, based on present law, no deduction
or withholding in respect of Taxes imposed by or for the account of any Applicable Taxing Authority is required to be made from any payment
by the Company under this Agreement or the Notes except for any such withholding or deduction arising out of the conditions described
in the last sentence of Section 13(a).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Title to Property; Leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and each Subsidiary
have good and sufficient title to their respective properties that individually or in the aggregate are Material, including all such properties
reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any
Subsidiary after such date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of
Liens prohibited by this Agreement or any other Financing Document. All leases that the Company or any Subsidiary is party to as lessee
and that individually or in the aggregate are Material are valid and subsisting and are in full force and effect in all material respects.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Licenses, Permits, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as disclosed in <U>Schedule
5.11</U> (as such <U>Schedule 5.11</U> may be updated by the Company pursuant to any Request for Purchase, subject to a Confirmation of
Acceptance, if applicable),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company and each Subsidiary own, possess or are licensed to use all licenses, permits, franchises, authorizations, patents,
copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate
are Material, without known conflict with the rights of others;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the best knowledge of the Company, no product or service of the Company or any Subsidiary infringes in any material respect
any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right
owned by any other Person; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the best knowledge of the Company, there is no Material violation by any Person of any right of the Company or any Subsidiary
with respect to any patent, copyright, service mark, trademark, trade name or other right owned or used by the Company or any Subsidiary.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with ERISA; Foreign Pension Plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws, except for
such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event,
transaction or condition has occurred or exists that could, individually or in the aggregate, reasonably be expected to result in the
incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties
or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to section 430(k) of the Code or
to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest
in connection with the amendment of a Plan, other than such liabilities or Liens as would not be individually or in the aggregate Material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as
of the end of such Plan&#8217;s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes
in such Plan&#8217;s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such Plan allocable
to such benefit liabilities by more than U.S.$5,000,000 in the aggregate for all Plans. The term <B>&#8220;benefit liabilities&#8221;</B>
has the meaning specified in section&nbsp;4001 of ERISA and the terms <B>&#8220;current value&#8221;</B> and <B>&#8220;present value&#8221;</B>
have the meaning specified in section&nbsp;3 of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each ERISA Affiliate have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities)
under section&nbsp;4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The expected postretirement benefit obligation (determined as of the last day of the Company&#8217;s most recently ended fiscal
year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities
attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction
that is subject to the prohibitions of section&nbsp;406 of ERISA or in connection with which a tax could be imposed pursuant to section&nbsp;4975(c)(1)(A)-(D)
of the Code. The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon
and subject to the accuracy of such Purchaser&#8217;s representation in Section 6.2 as to the sources of the funds to be used to pay the
purchase price of the Notes acquired by such Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Foreign Pension Plan has been established, operated, administered and maintained in compliance with its terms and with the
requirements of any and all applicable laws, statutes, rules, regulations and court orders and has been maintained in good standing with
applicable regulatory authorities except for instances of non-compliance which have not resulted and could not reasonably be expected
to result in a Material Adverse Effect. All premiums, contributions, and any other amounts required by applicable Foreign Pension Plans
documents or applicable laws have been paid or accrued as required except for premiums, contributions or other amounts that, in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Offering of Notes.</B> Neither the Company nor any Subsidiary nor any agent acting on any of their behalf has, directly or indirectly,
offered the Notes or any similar security of the Company for sale to, or solicited any offers to buy the Notes or any similar security
of the Company from, or otherwise approached or negotiated with respect thereto with, any Person other than institutional investors, and
neither the Company nor any agent acting on its behalf has taken or will take any action which would reasonably be expected to subject
the issuance or sale of the Notes to the provisions of Section 5 of the Securities Act or to the provisions of any securities or &#8220;blue
sky&#8221; law of any applicable jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Use of Proceeds; Margin Regulations.</B> The proceeds of each Series of Notes will be used as set forth in the Request For Purchase
with respect to such Series. None of the proceeds of the sale of any Notes will be used to finance a Hostile Tender Offer. No part of
the proceeds of any Notes, and no other extensions of credit hereunder, will be used (a) for &#8220;buying&#8221; or &#8220;carrying&#8221;
any &#8220;margin stock&#8221; within the respective meanings of each of the quoted terms under Regulation U of the Board of Governors
of the Federal Reserve System (12 CFR 221) as now and from time to time hereafter in effect for any purpose that violates the provisions
of the Regulations of the Board of Governors of the Federal Reserve System or (b) for any purpose that violates the provisions of the
regulations of the Board of Governors of the Federal Reserve System.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Existing Indebtedness; Future Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as described therein, <U>Schedule 5.15</U> sets forth a complete and correct list of all outstanding Indebtedness of the
Company and its Subsidiaries as of July 31, 2022 (including a description of the obligors, principal amount outstanding and collateral
therefor, if any, and any Guaranty thereof, if any) since which date there has been no Material increase in the amounts, interest rates,
sinking funds or installment payments of the Indebtedness of the Company or its Subsidiaries or any Material increase in the frequency
of any installment payments or any Material shortening of the maturities of any such Indebtedness at any time prior to the date of this
Agreement. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any
principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness
of the Company or any Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons
to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>True and complete copies of the Credit Agreement, 2015 Note Purchase Agreement and the 2022 NYL Shelf Agreement have been provided
to each Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except for Permitted Liens identified in Sections 10.3(b) to 10.3(m), inclusive, and except as disclosed in <U>Schedule 5.15</U>,
neither the Company nor any Subsidiary has agreed or consented to cause or permit any of its property, whether now owned or hereafter
acquired, to be subject to a Lien that secures Indebtedness or to cause or permit in the future (upon the happening of a contingency or
otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien that secures Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument evidencing
Indebtedness of the Company or such Subsidiary, any agreement relating thereto or any other agreement (including, but not limited to,
its charter or any other organizational document) which limits the amount of or otherwise imposes restrictions on the incurring of, Indebtedness
of the Company, except as disclosed on <U>Schedule 5.15</U>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Foreign Assets Control Regulations, Etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Controlled Entity is (i) a Person whose name appears on the list of Specially Designated Nationals
and Blocked Persons published by the Office of Foreign Assets Control, United States Department of the Treasury (&#8220;<B>OFAC</B>&#8221;)
(an &#8220;<B>OFAC Listed Person</B>&#8221;), (ii) an agent, department, or instrumentality of, or is otherwise beneficially owned by,
controlled by or acting on behalf of, directly or indirectly, (x) any OFAC Listed Person or (y) any Person, entity, organization, foreign
country or regime that is subject to any OFAC Sanctions Program, or (iii) any other Person that is otherwise blocked, subject to sanctions
under or engaged in any activity in violation of other United States economic sanctions, including but not limited to, the Trading with
the Enemy Act, the International Emergency Economic Powers Act, the Comprehensive Iran Sanctions, Accountability and Divestment Act (&#8220;<B>CISADA</B>&#8221;)
or any similar law or regulation with respect to Iran or any other country, the Sudan Accountability and Divestment Act, any OFAC Sanctions
Program, or any economic sanctions regulations administered and enforced by the United States or any enabling legislation or executive
order relating to any of the foregoing (collectively, &#8220;<B>U.S. Economic Sanctions</B>&#8221;) (each OFAC Listed Person and each
other Person, entity, organization and government of a country described in clause (i), clause (ii) or clause (iii), a &#8220;<B>Blocked
Person</B>&#8221;). Neither the Company nor any Controlled Entity has been notified that its name appears or may in the future appear
on a state list of Persons that engage in investment or other commercial activities in Iran or any other country that is subject to U.S.
Economic Sanctions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No part of the proceeds from the sale of the Notes hereunder constituted or will constitute funds obtained on behalf of any Blocked
Person or will otherwise be used by the Company or any Controlled Entity, directly or indirectly, (i) in connection with any investment
in, or any transactions or dealings with, any Blocked Person, or (ii) otherwise in violation of U.S. Economic Sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Controlled Entity (i) has violated, been found in violation of, charged with, or convicted of, money
laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under the Currency and Foreign Transactions
Reporting Act of 1970 (otherwise known as the Bank Secrecy Act), the USA PATRIOT Act or any other United States law or regulation governing
such activities (collectively, &#8220;<B>Anti-Money Laundering Laws</B>&#8221;) or any U.S. Economic Sanctions violations, (ii) has received
any written communication that the Company or Controlled Entity is under investigation by any Governmental Authority for possible violation
of Anti-Money Laundering Laws or any U.S. Economic Sanctions violations, and is not otherwise aware of any such investigation, (iii) has
been assessed civil penalties under any Anti-Money Laundering Laws or any U.S. Economic Sanctions, or (iv) has had any of its funds seized
or forfeited in an action under any Anti-Money Laundering Laws. The Company has established procedures and controls which it reasonably
believes are adequate (and otherwise comply with applicable law) to ensure that the Company and each Controlled Entity is and will continue
to be in compliance with all applicable current and future Anti-Money Laundering Laws and U.S. Economic Sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(1)&#9;Neither the Company nor any Controlled Entity (i) has violated, been charged with, or convicted of bribery or any other
anti-corruption related activity under any applicable law or regulation in a U.S. or any non-U.S. country or jurisdiction, including but
not limited to, the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010 (collectively, &#8220;<B>Anti-Corruption Laws</B>&#8221;),
(ii) has received any written communication that the Company or Controlled Entity is under investigation by any Governmental Authority
for possible violation of Anti-Corruption Laws, and is not otherwise aware of any such investigation, (iii) has been assessed civil or
criminal penalties under any Anti-Corruption Laws or (iv) has been or is the target of sanctions imposed by Canada, the United Nations
or the European Union;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any Controlled Entity has received any written communication within the last five years asserting that the Company or
a Controlled Entity has, directly or indirectly, offered, promised, given, paid or authorized the offer, promise, giving or payment of
anything of value to a Governmental Official or a commercial counterparty for any of the following purposes, and is not otherwise aware
of any such action: (i) influencing any act, decision or failure to act by such Government Official in his or her official capacity or
by such commercial counterparty, (ii) inducing a Governmental Official to do or omit to do any act in violation of the Governmental Official&#8217;s
lawful duty, or (iii) inducing a Governmental Official or a commercial counterparty to use his or her influence with a government or instrumentality
to affect any act or decision of such government or entity; in each case in order to obtain, retain or direct business or to otherwise
secure an improper advantage; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for any improper payments, including bribes,
to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage.
The Company has established procedures and controls which it reasonably believes are adequate (and otherwise comply with applicable law)
to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable current and future
Anti-Corruption Laws.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Status under Certain Statutes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither the Company nor any
Subsidiary is subject to regulation under the Investment Company Act of 1940 of the United States of America, as amended, the Public Utility
Holding Company Act of 2005 of the United States of America, as amended, the ICC Termination Act of 1995 of the United States of America,
as amended, or the Federal Power Act of the United States of America, as amended.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Environmental Matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no proceeding has
been instituted asserting any claim against the Company or any Subsidiary or any of their respective real properties or other assets now
or formerly owned, leased or operated by any of them, alleging any damage to the environment or violation of any Environmental Laws, except,
in each case, such as could not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has knowledge of any facts which would give rise to any claim, public or private, of violation
of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly
owned, leased or operated by any of them or to other assets or their use, except, in each case, such as could not, individually or in
the aggregate, reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated
by any of them in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected
to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has disposed of any Hazardous Materials in a manner which is contrary to any Environmental
Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All buildings on all real properties now owned, leased or operated by the Company or any Subsidiary are in compliance with applicable
Environmental Laws, except where failure to comply could not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ranking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All liabilities of the Company
under the Notes constitute direct, unconditional and general obligations of the Company and rank in right of payment either <I><U>pari
passu</U></I> with or senior to all other unsecured and unsubordinated Indebtedness of the Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The representations and warranties
of each Guarantor contained in the respective Guarantees to which each is a party are true and correct as of the date they are made and
will be true and correct at the time of each Closing. Immediately after giving effect to each Closing, the Guarantors that shall have
executed and delivered the Guarantees, or the Confirmations of Guarantee, as the case may be, in favor of the holders of the Notes are
the same as the Subsidiaries of the Company that have executed and delivered guarantees in favor of (a) the Banks in connection with the
Credit Agreement, (b) the 2015 Noteholders in connection with the 2015 Note Purchase Agreement and (c) the holders of the notes issued
pursuant to the 2022 NYL Shelf Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chief Executive Office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this Agreement,
the chief place of business and chief executive office of the Company is 1255 Bay Street, Suite 600, Toronto, Ontario, Canada M5R 2A9.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Previous Acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the business(es) acquired
by the Company or any of its Subsidiaries prior to the date hereof qualifies as an Eligible Business.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD><TD STYLE="text-align: justify">REPRESENTATIONS OF THE PURCHASERS.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase for Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Purchaser severally represents
that such Purchaser (i) is an Institutional Accredited Investor, (ii) is an &#8220;accredited investor&#8221; within the meaning of the
<I>National Instrument 45-106 - Prospectus and Registration Exemptions of the Canadian Securities Administrators</I>, and (iii) has acquired
the Notes for its own account or for one or more separate accounts maintained by it or for the account of one or more pension or trust
funds (each of which is an &#8220;accredited investor&#8221; as described in clause (ii) above) and not with a view to the distribution
thereof, <U>provided</U> that the disposition of such Purchaser&#8217;s or their property shall at all times be within such Purchaser&#8217;s
or their control. Each Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if
registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances
where neither such registration nor such an exemption is required by law, and that the Company is not required to register the Notes.
Each Purchaser acknowledges that nothing in this Agreement is intended to impose an obligation on the Company to register the Notes under
the Securities Act, any state securities laws or the <I>Securities Act</I> (Ontario), and that the Notes have not been qualified for sale
under the securities laws of any province or territory of Canada and have not been and may not be offered or sold in Canada in contravention
of the securities laws of any province or territory of Canada.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Source of Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Purchaser severally represents
that at least one of the following statements is an accurate representation as to each source of funds (a &#8220;<B>Source</B>&#8221;)
to be used by such Purchaser to pay the purchase price of the Notes acquired by such Purchaser hereunder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is an &#8220;insurance company general account&#8221; (as the term is defined in the United States Department of Labor&#8217;s
Prohibited Transaction Exemption (&#8220;<B>PTE</B>&#8221;) 95-60) in respect of which the reserves and liabilities (as defined by the
annual statement for life insurance companies approved by the NAIC (the <B>&#8220;NAIC Annual Statement&#8221;</B>)) for the general account
contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general
account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as
defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities
of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such
Purchaser&#8217;s state of domicile; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is a separate account that is maintained solely in connection with such Purchaser&#8217;s fixed contractual obligations
under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate
account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment
performance of the separate account; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1, or (ii) a bank collective
investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to
this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns
more than 10% of all assets allocated to such pooled separate account or collective investment fund; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source constitutes assets of an &#8220;investment fund&#8221; (within the meaning of Part VI of PTE 84-14 (the &#8220;<B>QPAM
Exemption</B>&#8221;)) managed by a &#8220;qualified professional asset manager&#8221; or &#8220;QPAM&#8221; (within the meaning of Part
VI of the QPAM Exemption), no employee benefit plan&#8217;s assets that are managed by the QPAM in such investment fund, when combined
with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning
of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent more
than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither
the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the Company that would cause the QPAM and
the Company to be &#8220;related&#8221; within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity of such QPAM and (ii)
the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit
plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of
such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to
the Company in writing pursuant to this clause (d); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source constitutes assets of a &#8220;plan(s)&#8221; (within the meaning of Part IV(h) of PTE 96-23 (the &#8220;<B>INHAM Exemption</B>&#8221;))
managed by an &#8220;in-house asset manager&#8221; or &#8220;INHAM&#8221; (within the meaning of Part IV(a) of the INHAM Exemption), the
conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled by
the INHAM (applying the definition of &#8220;control&#8221; in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest in the
Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have
been disclosed to the Company in writing pursuant to this clause (e); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is a governmental plan; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit
plans, each of which has been identified to the Company in writing pursuant to this clause (g); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used in this Section 6.2,
the terms <B>&#8220;employee benefit plan&#8221;</B>, <B>&#8220;governmental plan&#8221;</B> and <B>&#8220;separate account&#8221;</B>
shall have the respective meanings assigned to such terms in section 3 of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD><TD STYLE="text-align: justify">INFORMATION AS TO THE COMPANY.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial and Business Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall deliver
to each holder of Notes that is an Institutional Investor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Quarterly Statements</U> -- within 45 days after the end of each of the first three quarterly periods in each fiscal year of
the Company, duplicate copies of,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a consolidated balance sheet of the Company and its Subsidiaries as at the end of such period, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated statements of earnings and cash flows of the Company and its Subsidiaries, for such period and (in the case of the
second and third quarterly periods) for the portion of the fiscal year ending with such period,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">setting forth in each case in
comparative form the figures for the corresponding period in the previous fiscal year, all in reasonable detail, prepared in accordance
with U.S. GAAP applicable to interim financial statements generally, and certified by a Senior Financial Officer of the Company as fairly
presenting, in all material respects, the financial position of the companies being reported on and their earnings and cash flows, subject
to changes resulting from year-end adjustments, <U>provided</U> that delivery within the time period specified above of copies of the
Company&#8217;s Quarterly Report on Form 6-K prepared in compliance with the requirements therefor and filed with the SEC shall be deemed
to satisfy the requirements of this Section 7.1(a); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Annual Statements</U> --</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>within 90 days after the end of each fiscal year of the Company, duplicate copies of,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a consolidated balance sheet of the Company and its Subsidiaries, as at the end of such fiscal year, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated statements of earnings and cash flows of the Company and its Subsidiaries, for such fiscal year,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">setting forth in each
case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with U.S. GAAP, and
accompanied by (A) an opinion thereon (without a &#8220;going concern&#8221; or similar qualification or exception and without any qualification
or exception as to the scope of the audit on which such opinion is based) of independent chartered accountants of recognized international
standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of
the companies being reported upon and their earnings and cash flows and have been prepared in conformity with U.S. GAAP, and that the
examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing
standards, and that such audit provides a reasonable basis for such opinion in the circumstances and (B) so long as a similar certificate
is delivered to any of the Banks or any of the 2015 Noteholders, a certificate of such accountants stating that they have reviewed this
Agreement and the other Financing Documents and stating further whether, in making their audit, they have become aware of any condition
or event that then constitutes a Default or an Event of Default, and, if they are aware that any such condition or event then exists,
specifying the nature and period of the existence thereof (it being understood that such accountants shall not be liable, directly or
indirectly, for any failure to obtain knowledge of any Default or Event of Default unless such accountants should have obtained knowledge
thereof in making an audit in accordance with generally accepted auditing standards or did not make such an audit); and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>together with the financial statements referred to in the foregoing subclause (i), the Company&#8217;s annual business plan and
financial projections, including unaudited profit and loss statements, cash-flow statements, balance sheets and projected capital expenditures
for the fiscal year then begun (such business plan and financial projections not to be prepared in a manner nor contain any statement
which is inconsistent with U.S. GAAP);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><U>provided</U> that the delivery
within the time period specified above of the Company&#8217;s Annual Report on Form 40-F for such fiscal year prepared in accordance with
the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of Section 7.1(b)(i);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Reports</U> -- promptly upon their becoming available, one copy of (i) each financial statement, report, notice or proxy
statement sent by the Company or any Subsidiary to (x) its creditors under any Material Credit Facility (excluding information sent to
such creditors in the ordinary course of administration of a credit facility, such as information relating to pricing and borrowing availability)
or (y) public securities holders generally, and (ii)&nbsp;each regular or periodic report and each registration statement (without exhibits
except as expressly requested by such holder) filed by the Company or any Subsidiary with the Toronto Stock Exchange or any other stock
exchange or the SEC and of all press releases and other statements made available generally by the Company or any Subsidiary to the public
concerning developments that are Material;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Default or Event of Default</U> -- promptly, and in any event within five Business Days after a Responsible Officer
becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect
to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type
referred to in Section 11(e), a written notice specifying the nature and period of existence thereof and what action the Company is taking
or proposes to take with respect thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>ERISA Matters</U> -- promptly, and in any event within 15 days after a Responsible Officer becoming aware of any of the following,
a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with
respect thereto:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to any Plan, any reportable event, as defined in section&nbsp;4043(c) of ERISA and the regulations thereunder, for
which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof and that could reasonably be expected
to result in a Material Adverse Effect; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section&nbsp;4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate
of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer Plan; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA Affiliate
pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition
of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such
penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could
reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices from Governmental Authority</U> -- promptly, and in any event within 10 Business Days of receipt thereof, copies of
any notice to the Company or any Subsidiary from any Governmental Authority relating to any order, ruling, statute or other law or regulation
that could reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Material Credit Facilities</U> -- promptly, and in any event within 30 days after the execution thereof, copies of (i) any new
Material Credit Facility and (ii) any amendments or other modifications to any existing Material Credit Facility;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Debt Rating</U> &#8211; promptly following the occurrence thereof, notice of any change in the Debt Rating for the outstanding
Notes (to the extent such Debt Rating is not a public rating); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Requested Information</U> -- with reasonable promptness, such other data and information relating to the business, operations,
affairs, financial condition, assets or properties of the Company or any Subsidiary or relating to the ability of the Company or any Guarantor
to perform their respective obligations under the Financing Documents as from time to time may be reasonably requested by any such holder
of Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Officer&#8217;s Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each set of financial statements
delivered to a holder of Notes pursuant to Section 7.1(a) or Section 7.1(b) hereof shall be accompanied by a certificate of a Senior Financial
Officer of the Company setting forth and/or attaching, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant Compliance</U> -- the information (including detailed calculations) required in order to establish whether the Company
was in compliance with the requirements of Section&nbsp;10.3 through Section&nbsp;10.9 hereof, inclusive, during the quarterly or annual
period covered by the financial statements then being furnished (including with respect to each such Section, where applicable, the calculations
of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation
of the amount, ratio or percentage then in existence, and also including details of any adjustments to EBITDA as a result of Normalizing
Adjustments) and stating that the appointment of the agent referred to in Section 24 remains in effect or stating the name and address
of the Person appointed to replace such agent. In the event that the Company or any Subsidiary has made an election to measure any financial
liability using fair value (which election is being disregarded for purposes of determining compliance with this Agreement pursuant to
Section 26.8) as to the period covered by any such financial statement, such Senior Financial Officer&#8217;s certificate as to such period
shall include a reconciliation from U.S. GAAP with respect to such election; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Event of Default</U> -- a statement certifying that such officer has reviewed the relevant terms hereof and has made, or caused
to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning
of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall
not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if
any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the failure of
the Company or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action
the Company shall have taken or proposes to take with respect thereto; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>EBITDA Breakdown</U> -- in the certificate accompanying the financial statements delivered pursuant to Section 7.1(b), a breakdown
of the EBITDA for the Company and its Subsidiaries, on an individual basis, as at the last day of such fiscal year.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inspection.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall permit representatives
of each holder of Notes that is an Institutional Investor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Default</U> -- if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice
to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and
its Subsidiaries with the Company&#8217;s officers, and (with the consent of the Company, which consent will not be unreasonably withheld)
its independent chartered accountants, and (with the consent of the Company, which consent will not be unreasonably withheld) to visit
the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as often as may be reasonably requested
in writing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Default</U> -- if a Default or Event of Default then exists, at the expense of the Company and upon reasonable prior notice
to the Company, to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective
books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances
and accounts with their respective officers and independent chartered accountants (and by this provision the Company authorizes said accountants
to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Electronic Delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financial statements, reports
and any other information required to be delivered by the Company pursuant to Section 7.1(c) shall be deemed to have been delivered if
the Company shall have filed any of the items referred to in Section 7.1(c) with the Canadian Securities Administrators on SEDAR and shall
have made such items available on its home page on the internet located at https://www.firstservice.com or on IntraLinks or on any other
similar website to which each holder of Notes has free access; <I>provided however,</I> that the Company shall have given each holder
of a Note prior written notice, which may be by e-mail or in accordance with Section 20, of such posting or filing in connection with
each delivery, <I>provided further,</I> that upon request of any holder to receive paper copies of such financial statements, reports
or other information or to receive them by e-mail, the Company will promptly e-mail them or deliver such paper copies, as the case may
be, to such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD><TD STYLE="text-align: justify">PREPAYMENT OF THE NOTES.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Required Prepayments; Maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Series of Notes shall
be subject to the required prepayments, if any, set forth in the Notes of such Series. Upon any partial prepayment of any such Series
of Notes pursuant to Section 8.2, Section 8.3, or Section 8.4, the principal amount of each required prepayment of such Notes becoming
due under the terms of such Notes on and after the date of such prepayment, together with the principal amount due at maturity, shall
be reduced in the same proportion as the aggregate unpaid principal amount of such Notes is reduced as a result of such prepayment. As
provided therein, the entire unpaid principal balance of each Note shall be due and payable on the Maturity Date thereof.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Optional Prepayments with Make-Whole Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company may, at its option,
upon notice as provided in Section 8.5, prepay at any time all, or from time to time any part of, the Notes (in the case of a partial
prepayment, such prepayment shall be in an amount not less than U.S.$5,000,000 (or such lesser amount as shall then be outstanding) and
then only in increments of U.S.$100,000), at 100% of the principal amount so prepaid, plus all interest accrued thereon through such prepayment
date, plus the applicable Make-Whole Amount determined for the prepayment date with respect to such principal amount.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prepayment in Connection with a Payment under Section 13.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Subsection (b) below, if, as a result of the occurrence of any Tax Event, the Company on any date shall have (i)&nbsp;made
a payment under Section 13 with respect to any Note or become obligated to make a payment under Section 13 with respect to any Note on
the next date on which a payment of interest is scheduled to be made (such payment in either case being in excess of the amount that the
Company would have been required to pay but for the occurrence of such Tax Event) (in either case, any such Note being herein referred
to as an <B>&#8220;Affected Note&#8221;</B>) and (ii)&nbsp;furnished to each holder of any Affected Note a notice from a Responsible Officer
of the Company setting forth in reasonable detail the nature of such Tax Event and an explanation of the basis on which the Company is
then so obligated to make payment under Section 13, the Company may, upon notice given as provided in Section 8.5, prepay the Affected
Notes in whole (and not in part) on the date specified in such notice at a price equal to the unpaid principal amount of such Notes, together
with interest accrued thereon to the date fixed for such prepayment, plus the applicable Make-Whole Amount determined for the prepayment
date with respect to such principal amount. The prepayment notice to be given in connection with a prepayment pursuant to this Section
8.3(a) on account of a particular Tax Event shall be given not later than the date that the first payment is to be made under Section
13 in respect of such Tax Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding Subsection&nbsp;(a) above, no Affected Note shall be prepaid pursuant to this Section 8.3 if the holder thereof,
at least five Business Days prior to the prepayment date under this Section 8.3, shall have delivered a notice to the Company stating
that such holder waives any right to any future payment under Section 13 in respect of the specific Tax Event that shall have given rise
to the Company&#8217;s prepayment right under this Section 8.3; <U>provided</U> that</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no such waiver (A) shall be deemed to constitute a waiver of any right to receive a payment in full under Section 13 in respect
of any other Tax Event that shall have given rise to the Company&#8217;s prepayment right under this Section 8.3 or (B) preclude the Company
from exercising any such right of prepayment in respect of such other Tax Event; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if on any date the amount of any payment that a holder of a Note would be entitled to receive under Section 13 shall increase (in
proportion to the total amount in respect of which the amount payable under Section 13 is determined),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the occurrence of any such increase shall be deemed to be a new Tax Event giving rise to a prepayment right under this Section
8.3, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such holder thereafter shall be entitled to receive the full amount of any future payment provided under Section 13, notwithstanding
any waiver previously delivered pursuant to this Section 8.3 unless such holder shall have delivered a notice under Section 8.3(b) in
respect of any such prepayment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In addition, no prepayment of
any Note shall be permitted pursuant to Section 8.3(a) if the underlying Tax payment under Section 13 arises as a result of the failure
of the Company to respond to any request specified in Section 13(a)(iv) or any other act or omission by the Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Offer to Prepay upon Certain Events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offer to Prepay upon the Sale of Certain Assets</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice and Offer</I>. In the event of any Disposition that does not otherwise satisfy the conditions of a disposition permitted
in Section 10.9 and is not a Disposition that is not to be taken into account pursuant to Section 10.9(a), Section 10.9(b), Section 10.9(c),
Section 10.9(d) or Section 10.9(e)(A), the Company will, within ten (10) days after the occurrence of the Disposition in respect of which
such prepayment or redemption is to be made, give written notice of such Disposition to each holder of Notes. Such written notice shall
contain, and such written notice shall constitute, an irrevocable offer (the <B>&#8220;Disposition Prepayment Offer&#8221;</B>) to prepay,
at the election of each holder, a portion of the Notes held by such holder equal to such holder&#8217;s Ratable Portion of the Net Proceeds
arising from such Disposition on a date specified in such notice (the <B>&#8220;Disposition Prepayment Date&#8221;</B>) that is not less
than thirty (30) days and not more than sixty (60) days after the date of such notice, together with interest on the amount to be so prepaid
accrued to the Disposition Prepayment Date, but without the Make-Whole Amount. If the Disposition Prepayment Date shall not be specified
in such notice, the Disposition Prepayment Date shall be the forty-fifth (45th) day after the date of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Acceptance and Payment</I>. To accept such Disposition Prepayment Offer, a holder of Notes shall cause a notice of such acceptance
to be delivered to the Company not later than twenty (20) days after the date of such written notice from the Company, provided, that
failure to accept such offer in writing within twenty (20) days after the date of such written notice shall be deemed to constitute a
rejection of the Disposition Prepayment Offer. If so accepted by any holder of a Note, such offered prepayment (equal to not less than
such holder&#8217;s Ratable Portion of the Net Proceeds from the relevant Disposition) shall be due and payable on the Disposition Prepayment
Date. Within two (2) Business Days after the end of such twenty (20) day period, the Company shall offer, in writing, to each holder of
Notes that shall have accepted its offer to prepay made pursuant to this Section 8.4(a)(ii), to prepay on the specified Disposition Prepayment
Date an additional portion of such holder&#8217;s Notes in a principal amount equal to its ratable share (based upon the ratio of the
outstanding principal amount of Notes held by such holder at such time to the aggregate outstanding principal amount of Notes held at
such time by all holders which have also accepted their respective offers to prepay made pursuant to this Section 8.4(a)(ii)) of the aggregate
amount offered to holders of Notes that have rejected, or been deemed to have rejected, the Disposition Prepayment Offer (a <B>&#8220;Secondary
Disposition Prepayment Offer&#8221;</B>); <U>provided</U> that such holder may specify that it will accept prepayment of a greater portion
of its Notes, should any of the Secondary Disposition Prepayment Offers be rejected, in which event the Company will allocate the aggregate
amount of Secondary Disposition Prepayment Offers so rejected among the holders so specifying ratably in accordance with the respective
additional amounts so specified. To accept any Secondary Disposition Prepayment Offer under this Section 8.4(a)(ii), a holder of Notes
shall cause a written notice of such acceptance to be delivered to the Company not later than the earlier of the Disposition Prepayment
Date or ten (10) days after the date of receipt by such holder of such Secondary Disposition Prepayment Offer (it being understood that
the failure by a holder to accept such Secondary Disposition Prepayment Offer as provided herein prior to the earlier of such dates shall
be deemed to constitute a rejection of said offer). The aggregate prepayment to be made pursuant to this Section 8.4(a)(ii) (including,
without limitation, the amount to be prepaid as the result of acceptances of Secondary Disposition Prepayment Offers) shall be made at
one hundred percent (100%) of the principal amount of such Notes being so prepaid, together with interest on such principal amount then
being prepaid accrued to the Disposition Prepayment Date, but without the Make-Whole Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&#8217;s Certificate</I>. Each offer to prepay the Notes pursuant to this Section 8.4(a) shall be accompanied by a certificate,
executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying (A) the Disposition Prepayment Date,
(B) the Net Proceeds in respect of the applicable Disposition, (C) that such offer is being made pursuant to Section 8.4(a) and Section
10.9, (D) the principal amount of each Note offered to be prepaid, (E) the interest that would be due on each Note offered to be prepaid,
accrued to the Disposition Prepayment Date, and (F) in reasonable detail, the nature of the Disposition giving rise to such Disposition
Prepayment Offer and certifying that no Default or Event of Default exists or would exist after giving effect to the prepayment contemplated
by such offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice Concerning Status of Holders of Notes</I>. Promptly after each Disposition Prepayment Date and the making of all prepayments
contemplated on such Disposition Prepayment Date under this Section 8.4(a) (and, in any event, within thirty (30) days thereafter), the
Company shall deliver to each holder of Notes a certificate signed by a Senior Financial Officer of the Company containing a list of the
then current holders of Notes (together with their addresses) and setting forth as to each such holder the outstanding principal amount
of Notes held by such holder at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offer to Prepay upon a Change of Control</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice of Change of Control</I>. The Company will, within five Business Days after any Responsible Officer has knowledge of
the occurrence of a Change of Control, give written notice of such Change of Control to each holder of Notes unless written notice of
such Change of Control shall have been given pursuant to Section 8.4(b)(ii) (a &#8220;<B>Change of Control Prepayment Notice</B>&#8221;).
If a Change of Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in Section 8.4(b)(ii)
(and shall be accompanied by the certificate described in Section 8.4(b)(v)).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Offer to Prepay Notes</I>. The offer to prepay Notes contemplated by Section 8.4(b)(i) shall be an offer to prepay (a &#8220;<B>Change
of Control Prepayment Offer</B>&#8221;), in accordance with and subject to this Section 8.4(b), all, but not less than all, the Notes
held by each holder (in this case only, &#8220;holder&#8221; in respect of any Note registered in the name of a nominee for a disclosed
beneficial owner shall mean such beneficial owner) on a date (which shall be a Business Day) specified in such offer (the &#8220;<B>Proposed
Prepayment Date</B>&#8221;). Such date shall be not less than thirty (30) days and not more than sixty (60) days after the date of such
offer (or if the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the Business Day
that falls on or next following the forty-fifth (45th) day after the date of such offer).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Acceptance; Rejection</I>. A holder of Notes may accept or reject the offer to prepay made pursuant to this Section 8.4(b) by
causing a notice of such acceptance or rejection to be delivered to the Company at least 10 days prior to the Proposed Prepayment Date.
A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.4(b) shall be deemed to constitute a rejection
of such offer by such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Prepayment</I>. Prepayment of the Notes to be prepaid pursuant to this Section 8.4(b) shall be made on the Proposed Prepayment
Date at 100% of the principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment,
but, in any case, without any Make-Whole Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&#8217;s Certificate</I>. Each offer to prepay the Notes pursuant to this Section 8.4(b) shall be accompanied by a certificate,
executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (A) the Proposed Prepayment Date;
(B) that such offer is made pursuant to this Section 8.4(b) and that failure by a holder to respond to such offer by the deadline established
in Section 8.4(b)(iii) shall result in such offer to such holder being deemed rejected; (C) the principal amount of each Note offered
to be prepaid; (D) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date; (E) that
the conditions of this Section 8.4(b) have been fulfilled; and (F) in reasonable detail, the nature and date of the Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice Concerning Status of Holders of Notes</I>. Promptly after the Proposed Prepayment Date and the making of all prepayments
contemplated on such Proposed Prepayment Date under this Section 8.4(b) (and, in any event, within 30 days thereafter), the Company shall
deliver to each then current holder of Notes, if any, a certificate signed by a Senior Financial Officer of the Company containing a list
of the then current holders of Notes (together with their addresses) and setting forth as to each such holder the outstanding principal
amount of Notes held by such holder at such time (in each case calculated after giving effect to the prepayments made on such Proposed
Prepayment Date.)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notices, Etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will give each
holder of Notes written notice of each optional prepayment under Section 8.2 and each holder of any Affected Note written notice of each
prepayment under Section 8.3, in each case not less than ten days and not more than 60 days prior to the date fixed for such prepayment,
unless the Company and the Required Holders agree to another time period pursuant to Section&nbsp;19. Each such notice shall specify such
date (which shall be a Business Day), the aggregate principal amount of the Notes or Affected Notes, as the case may be, to be prepaid
on such date, the principal amount of each Note or Affected Note, as the case may be, held by such holder to be prepaid, and the interest
to be paid on the prepayment date with respect to such principal amount being prepaid. Each such notice shall be accompanied by a certificate
of a Senior Financial Officer as to the estimated applicable Make-Whole Amount due in connection with such prepayment (calculated as if
the date of such notice were the date of the prepayment) and setting forth the details of such computation, and two Business Days prior
to such prepayment, the Company shall deliver to each holder of Notes or Affected Notes, as the case may be, a certificate of a Senior
Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Allocation of Partial Prepayments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the case of each partial
prepayment of the Notes pursuant to Section 8.1 or Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among
all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not
theretofore called for prepayment.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maturity; Surrender, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the case of each prepayment
of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date
fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the
applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due
and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to
accrue. Any Note paid or prepaid in full shall be surrendered to the Company and canceled and shall not be reissued, and no Note shall
be issued in lieu of any prepaid principal amount of any Note.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, nor
will it permit any Affiliate to, purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except
upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel
all Notes acquired by the Company or any Affiliate pursuant to any payment or prepayment of Notes pursuant to any provision of this Agreement
and no Notes may be issued in substitution or exchange for any such Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Make-Whole Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The term <B>&#8220;Make-Whole
Amount&#8221;</B> means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled
Payments with respect to the Called Principal of such Note over the amount of such Called Principal, <U>provided</U> that the Make-Whole
Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following
meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Called
Principal&#8221;</B> means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to Section&nbsp;8.2 or&nbsp;8.3
or has become or is declared to be immediately due and payable pursuant to Section&nbsp;12.1, as the context requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Discounted
Value&#8221;</B> means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining Scheduled Payments
with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal,
in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest
on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Reinvestment
Yield&#8221;</B> means, with respect to the Called Principal of any Note, the sum of (x)(i) if such Called Principal is to be prepaid
pursuant to Section 8.3, 1.00% or (ii) if such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared
to be immediately due and payable pursuant to Section 12.1, 0.50% <U>plus</U> (y) the yield to maturity implied by the yield(s) reported
as of 10:00 a.m. on the second New York Business Day preceding the Settlement Date with respect to such Called Principal, on the display
designated as &#8220;Page PX1&#8221; (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently
issued actively traded on-the-run U.S. Treasury securities (&#8220;<B>Reported</B>&#8221;) having a maturity equal to the Remaining Average
Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal
to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations
to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between the yields Reported for
the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater
than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded
to the number of decimal places as appears in the interest rate of the applicable Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">If such yields are
not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then &#8220;Reinvestment
Yield&#8221; means, with respect to the Called Principal of any Note, the sum of (x)(i) if such Called Principal is to be prepaid pursuant
to Section 8.3, 1.00% or (ii) if such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately
due and payable pursuant to Section 12.1, 0.50% <U>plus</U> (y) the yield to maturity implied by the U.S. Treasury constant maturity yields
reported, for the latest day for which such yields have been so reported as of the second New York Business Day preceding the Settlement
Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for
the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date.
If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity
will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and
greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than
such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of
the applicable Note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Remaining
Average Life&#8221;</B> means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called Principal
into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect
to such Called Principal by (b) the number of years, computed on the basis of a 360-day year composed of twelve 30-day months and calculated
to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of
such Remaining Scheduled Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Remaining
Scheduled Payments&#8221;</B> means, with respect to the Called Principal of any Note, all payments of such Called Principal and interest
thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were
made prior to its scheduled due date, <U>provided</U> that if such Settlement Date is not a date on which interest payments are due to
be made under the terms of the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount
of interest accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section&nbsp;8.2, 8.3 or 12.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&#8220;Settlement
Date&#8221;</B> means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant
to Section&nbsp;8.2 or 8.3 or has become or is declared to be immediately due and payable pursuant to Section&nbsp;12.1, as the context
requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD><TD STYLE="text-align: justify">AFFIRMATIVE COVENANTS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company covenants that
during the Issuance Period and thereafter so long as any of the Notes are outstanding:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will and will
cause each of its Subsidiaries to comply with all laws, ordinances or governmental rules or regulations to which each of them is subject,
including, without limitation, Environmental Laws, the USA PATRIOT Act and the other laws and regulations that are referred to in Section
5.16, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary
to the ownership of their respective properties or to the conduct of their respective businesses, in each case to the extent necessary
to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect
such licenses, certificates, permits, franchises and other governmental authorizations could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will and will
cause each of its Subsidiaries to maintain, with financially sound and reputable insurers, insurance with respect to their respective
properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles,
co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of
established reputations engaged in the same or a similar business and similarly situated.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maintenance of Properties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will and will
cause each of its Subsidiaries to maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working
order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted
at all times, <U>provided</U> that this Section shall not prevent the Company or any Subsidiary from discontinuing the operation and the
maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded
that such discontinuance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment of Taxes and Claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will and will
cause each of its Subsidiaries to file all tax returns required to be filed in any jurisdiction and to pay and discharge all Taxes shown
to be due and payable on such returns and all other Taxes, assessments, governmental charges, or levies imposed on them or any of their
properties, assets, income or franchises, to the extent the same have become due and payable and before they have become delinquent, and
all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary,
<U>provided</U> that neither the Company nor any Subsidiary need pay any such Tax, assessment, charge, levy or claim if (a)&nbsp;the amount,
applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings,
and the Company or such Subsidiary has established adequate reserves therefor in accordance with U.S. GAAP on the books of the Company
or such Subsidiary or (b)&nbsp;the nonpayment of all such taxes, assessments, charges, levies and claims could not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Corporate Existence, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to Sections&nbsp;10.2
and 10.9, the Company will at all times preserve and keep in full force and effect its corporate existence, and the Company will at all
times preserve and keep in full force and effect the corporate or partnership existence (as applicable) of each of its Subsidiaries and
all rights and franchises of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or
failure to preserve and keep in full force and effect the corporate or partnership existence of any Subsidiary, or any such right or franchise
could not, individually or in the aggregate, have a Material Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ranking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will ensure that,
at all times, all liabilities of the Company under the Notes will rank in right of payment either <I><U>pari passu</U></I> with or senior
to all other unsecured and unsubordinated Indebtedness of the Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additional Guarantors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to Section 9.8, the
Company will cause any Person (a) who after the date hereof is newly incorporated or newly acquired and meets the criteria set forth in
the definition of Guarantor, to execute and deliver, within thirty days thereof, or such longer period as the Required Holders may consent
to, or (b) that existed as at the date hereof and who subsequently meets the criteria set forth in the definition of Guarantor, to execute
and deliver, as soon as reasonably practicable, (x) a Guaranty of the obligations of the Company hereunder which may be satisfied by such
Person executing a guarantee agreement (governed by the Applicable Law of a Reliable Jurisdiction) (in form, substance and under Applicable
Law satisfactory to the Required Holders) or executing an adhesion agreement or joinder to an existing Guarantee, substantially in the
form attached to such Guarantee or otherwise in from and substance satisfactory to the Required Holders, and (y) a favorable supporting
legal opinion and such certificates, accompanying authorizing resolutions and corporate or similar documents as the Required Holders may
reasonably request, each of such opinions, resolutions and similar documents to be in form and substance reasonably satisfactory to the
Required Holders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Release of Guarantees, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At any time on or after the release by (x) the Banks of any Guarantor from its obligations under its Guaranty of the obligations
under or in respect of the Credit Agreement or upon any indulgence, waiver or other accommodation by the Banks under the Credit Agreement
in respect of any such Guaranty, (y) the 2015 Noteholders of such Guarantor from its obligations under its Guaranty of the Obligations
under or in respect of the 2015 Note Purchase Agreement or upon any similar indulgence, waiver or other accommodation by the 2015 Noteholders
under the 2015 Note Purchase Agreement in respect of any such Guaranty, and (z) the holders of the notes under the 2022 NYL Shelf Agreement
of such Guarantor from its obligations under its Guaranty of the Obligations under or in respect of the 2022 NYL Shelf Agreement or upon
any similar indulgence, waiver or other accommodation by such holders under the 2022 NYL Shelf Agreement in respect of any such Guaranty,
and provided that no Default or Event of Default shall have occurred and be continuing at such time, at the request of the Company, the
holders of Notes shall, as the case may be, (i) release any Guarantor from its obligations under its Guarantee if such Guarantor is being
simultaneously released from all of its Guaranty obligations in respect of the Credit Agreement, the 2015 Note Purchase Agreement and
the 2022 NYL Shelf Agreement and such Guarantor is not a borrower, co-borrower or otherwise obligated in respect of the obligations under
the Credit Agreement, the 2015 Note Purchase Agreement or the 2022 NYL Shelf Agreement or (ii) provide any such indulgence, waiver or
other accommodation, in each case, as the Banks may provide under the Credit Agreement in respect of such Guaranty of the obligations
under or in respect of the Credit Agreement, the 2015 Noteholders may provide under the 2015 Note Purchase Agreement in respect of such
Guaranty of the obligations under or in respect of the 2015 Note Purchase Agreement and the holders of the notes under the 2022 NYL Shelf
Agreement may provide under the 2022 NYL Shelf Agreement in respect of such Guaranty of the obligations under or in respect of the 2022
NYL Shelf Agreement, provided further in each case that the highest consideration paid or provided (if any) to any Bank under the Credit
Agreement, any 2015 Noteholder under the 2015 Note Purchase Agreement and/or New York Life or any holder of notes under the 2022 NYL Shelf
Agreement for such release of such Guarantor, or for the provision of such indulgence, waiver or other accommodation, is paid pro rata
to each holder of Notes at substantially the same time and on equivalent terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&#9;If the holders of the Notes have released a Guarantor from its obligations under its Guarantee, as contemplated by Section
9.8(a)(i), the Company shall not thereafter permit such former Guarantor to Guaranty any obligations owing under the Credit Agreement,
the 2015 Note Purchase Agreement or the 2022 NYL Shelf Agreement, or otherwise become obligated with respect thereto, unless, simultaneously
therewith, such former Guarantor becomes a Guarantor hereunder by executing a Guarantee and such Guarantor delivers to each holders of
the Notes such opinions of counsel, certificates, accompanying authorizing resolutions and corporate or similar documents as the Required
Holders may reasonably request, each of such opinions, resolutions and similar documents to be in form and substance reasonably satisfactory
to the Required Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the holders of the Notes have provided any indulgence, waiver or other accommodation, as contemplated by Section 9.8(a)(ii),
the Company shall not thereafter permit such indulgence, waiver or other accommodation granted by the Banks, the 2015 Noteholders or the
holders of the notes under the 2022 NYL Shelf Agreement to be modified in a manner favorable to the Banks, the 2015 Noteholders or the
holders of the notes under the 2022 NYL Shelf Agreement, as the case may be, unless the indulgence, waiver or other accommodation granted
by the holders of Notes shall be similarly and simultaneously modified.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Most Favored Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If at any time either (a)
any of the terms (including, without limitation, defaults and events of default), conditions and/or covenants applicable to the Credit
Agreement, the 2015 Note Purchase Agreement or the 2022 NYL Shelf Agreement are amended, or (b) any Material Credit Facility entered into
after the date hereof contains any terms (including, without limitation, defaults and events of default), conditions and/or covenants,
in each case such that the lenders or note holders under the Credit Agreement, the 2015 Note Purchase Agreement, the 2022 NYL Shelf Agreement
or any such Material Credit Facility, benefit from terms (each such term, a &#8220;<B>Most Favored Provision</B>&#8221;) that are more
favorable to such holders or lenders than those provided for hereunder, then each such Most Favored Provision shall be deemed to be automatically
incorporated by reference into this Agreement, <U>mutatis mutandis</U>, as if set forth fully herein and, notwithstanding anything to
the contrary herein, without any further action on the part of any of the Company, any Subsidiary or any other Person being required.
Any Most Favored Provision so incorporated herein may not thereafter be modified or waived without the written consent of the Required
Holders. In addition, the Company shall provide prompt written notice of the existence of any Most Favored Provision to each holder of
a Note, and the Company agrees promptly to enter into such documentation as the Required Holders may request to evidence the amendments
provided for in this Section.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rating on the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Company shall (i) at all times maintain a Debt Rating for the Notes from an Acceptable Rating Agency and (ii) with respect
to the notes issued under the 2015 Note Purchase Agreement, on and after November 30, 2022, maintain a Debt Rating for such notes from
an Acceptable Rating Agency so long as such notes are outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>At any time that the Debt Rating maintained pursuant to clause (a) above is not a public rating, the Company will provide
to each holder of a Note (i) within 30 days following the time such Notes are issued (or, with respect to the notes issued under the 2015
Note Purchase Agreement, on or before November 30, 2022) and at least annually (on or before each anniversary of the Closing Date with
respect to such Note at the time such Notes are issued (or, with respect to the notes issued under the 2015 Note Purchase Agreement, on
or before each anniversary of the date on which the Debt Rating for such notes was received)) and (ii) promptly upon any change in such
Debt Rating, an updated Private Rating Letter evidencing such Debt Rating and an updated Private Rating Rationale Report with respect
to such Debt Rating.&nbsp; In addition to the foregoing information and any information specifically required to be included in any Private
Rating Letter or Private Rating Rationale Report (as set forth in the respective definitions thereof), if the SVO or any other Governmental
Authority having jurisdiction over any holder of any Notes from time to time requires any additional information with respect to the Debt
Rating of the Notes, the Company shall use commercially reasonable efforts to procure such information from the Acceptable Rating Agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.</FONT></TD><TD STYLE="text-align: justify">NEGATIVE COVENANTS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company covenants that
during the Issuance Period and thereafter so long as any of the Notes are outstanding:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transactions with Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Subsidiary to, enter into directly or indirectly any transaction or group of related transactions (including without
limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other
than the Company or another Subsidiary), except in the ordinary course and pursuant to the reasonable requirements of the Company&#8217;s
or such Subsidiary&#8217;s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would
be obtainable in a comparable arm&#8217;s-length transaction with a Person not an Affiliate.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Merger, Consolidation, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Guarantor to, directly or indirectly, enter into any merger, consolidation, amalgamation, reorganization, reconstruction
or arrangement or, except as provided in the last sentence of this Section 10.2, liquidate, wind-up or dissolve itself (or suffer any
liquidation or dissolution) or convey, transfer or lease substantially all of its assets in a single transaction or series of transactions
to any Person unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of the Company, the successor formed by such consolidation, amalgamation, reorganization, reconstruction or arrangement
or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of the Company
(the &#8220;<B>Company Successor</B>&#8221;), shall be a solvent corporation organized and existing under the laws of Canada or any Province
thereof, or the United States of America or any State thereof (including the District of Columbia), and, if the Company is not the Company
Successor, (i) the Company Successor shall have executed and delivered to each holder of any Notes its assumption of the due and punctual
performance and observance of each covenant and condition of this Agreement, the Notes and the other Financing Documents to which the
Company is a party, (ii) in the case of any transaction contemplated by this subsection (a) involving the Company, each Guarantor shall
have executed and delivered to each holder of Notes its confirmation of its duties and obligations under the Guarantee to which it is
a party after giving effect to such transaction, and (iii) the Company Successor shall have caused to be delivered to each holder of any
Notes an opinion of nationally recognized independent counsel in the appropriate jurisdiction, or other independent counsel reasonably
satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance
with their terms and comply with the terms hereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of any Guarantor, the successor formed by any such consolidation, amalgamation, reorganization, reconstruction or arrangement
or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of such Guarantor
(the <B>&#8220;Guarantor Successor&#8221;</B>), shall be (1) either the Company, such Guarantor or another Guarantor, (2) a solvent corporation
duly organized and existing under the laws of Canada or any Province thereof, the United States of America or any State thereof (including
the District of Columbia) or the jurisdiction of organization of such Guarantor, and (i) such Guarantor Successor shall have executed
and delivered to each holder of any Notes its assumption of the due and punctual performance and observance of each covenant and condition
of the relevant Guarantee and (ii) the Company shall have caused to be delivered to each holder of any Notes an opinion of nationally
recognized independent counsel in the appropriate jurisdiction, or other independent counsel reasonably satisfactory to the Required Holders,
to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with
the terms hereof or (3) any other Person so long as the transfer of all of the assets of such Subsidiary would have otherwise been permitted
by Section 10.9 and such transaction is treated as a Disposition of all of the assets of such Subsidiary for purposes of Section 10.9;
and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of any such transaction, immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No such conveyance, transfer
or lease of substantially all of the assets of the Company or any Guarantor shall have the effect of releasing the Company, such Guarantor
or any successor corporation that shall theretofore have become such in the manner prescribed in this Section&nbsp;10.2 from its liability
under this Agreement, the Notes or the other Financing Documents to which the Company, such Guarantor or such successor is a party. The
Company may cause or permit any Subsidiary to liquidate, wind-up or dissolve (or suffer any liquidation or dissolution) if, in the good
faith judgment of the Company, such liquidation, winding-up or dissolution could not, individually or in the aggregate, have a Material
Adverse Effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Subsidiary to, create, assume, incur or suffer to exist any Lien upon or with respect to any property or assets, whether
now owned or hereafter acquired, of the Company or any Subsidiary, excluding from the operation of this Section the following Liens (each
a &#8220;<B>Permitted Lien</B>&#8221; and together, the &#8220;<B>Permitted Liens</B>&#8221;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Indebtedness of the Company or any Subsidiary outstanding on the date of this Agreement as specified in <U>Schedule
5.15</U> (to the extent such Lien is not otherwise permitted by any other subsections of this Section 10.3) and Liens securing any extension,
renewal or refunding of such Indebtedness, <U>provided</U> that (i) the principal amount of such Indebtedness outstanding immediately
before giving effect to such extension, renewal or refunding is not increased and (ii) such Lien does not cover any additional property
of the Company or any Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens incurred and pledges and deposits made in connection with workers&#8217; compensation, unemployment insurance, old-age pensions
and similar legislation (other than ERISA and Canadian pension legislation);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing the performance of bids, tenders, leases, contracts (other than for the repayment of borrowed money), and statutory
obligations of like nature, incurred as an incident to and in the ordinary course of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>statutory Liens of landlords, undetermined or inchoate Liens and other Liens imposed by law, such as carriers&#8217;, warehousemen&#8217;s,
mechanics&#8217;, construction and materialmen&#8217;s Liens, incurred in good faith in the ordinary course of business, <U>provided</U>
that the aggregate amount of any carriers&#8217;, warehousemen&#8217;s, mechanics&#8217;, construction or materialmen&#8217;s Liens shall
at no time exceed an aggregate amount of U.S.$5,000,000 (or the equivalent thereof, as of any date of determination, in any other currency)
and the amount thereof shall be paid when same shall become due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing the payment of taxes, assessments and governmental charges or levies, either (i) not delinquent or (ii) being contested
in good faith in accordance with Section 9.4 by appropriate proceedings;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>permits, right-of-way, zoning restrictions, easements, licenses, or reservations or restrictions on the use of real property or
minor irregularities or minor title defects incidental thereto which do not in the aggregate materially detract from the value of the
property or assets of the Company or any of its Subsidiaries or materially impair the operation of the business of the Company or any
of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens arising out of the leasing of personal property by the Company or any of its Subsidiaries in the ordinary course of business
up to an amount not exceeding in the aggregate, for the Company and its Subsidiaries, U.S.$40,000,000 (or the equivalent thereof, as of
any date of determination, in any other currency);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Lien created to secure all or any part of the purchase price, or to secure Indebtedness incurred or assumed to pay all or any
part of the purchase price or cost of construction, of property (or any improvement thereon) acquired or constructed by the Company or
any Subsidiary after the date of this Agreement, provided that</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any such Lien shall extend solely to the item or items of such property (or improvement thereon) so acquired or constructed and,
if required by the terms of the instrument originally creating such Lien, other property (or improvement thereon) which is an improvement
to or is acquired for specific use in connection with such acquired or constructed property (or improvement thereon) or which is real
property being improved by such acquired or constructed property (or improvement thereon),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal amount of the Indebtedness secured by any such Lien shall at no time exceed an amount equal to 100% of the lesser
of (A)&nbsp;the cost to the Company or such Subsidiary of the property (or improvement thereon) so acquired or constructed and (B)&nbsp;the
fair market value (as determined in good faith by the board of directors of the Company) of such property (or improvement thereon) at
the time of such acquisition or construction, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any such Lien shall be created contemporaneously with, or within 180 days after, the acquisition or construction of such property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Lien existing on property of a Person immediately prior to its being consolidated with or merged into the Company or any Subsidiary
or its becoming a Subsidiary, or any Lien existing on any property acquired by the Company or any Subsidiary at the time such property
is so acquired (whether or not the Indebtedness secured thereby shall have been assumed), provided that (i)&nbsp;no such Lien shall have
been created or assumed in contemplation of such consolidation or merger or such Person becoming a Subsidiary or such acquisition of property,
and (ii)&nbsp;each such Lien shall extend solely to the item or items of property so acquired and, if required by the terms of the instrument
originally creating such Lien, other property which is an improvement to or is acquired for specific use in connection with such acquired
property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reservations, conditions, limitations and exceptions contained in or implied by statute in the original disposition from the Crown
and grants made by the Crown of interests so reserved or accepted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>security given in the ordinary course of business by the Company or any of its Subsidiaries to a public utility or any municipality
or governmental or public authority in connection with operations of the Company or any of its Subsidiaries (other than in connection
with borrowed money) securing not more than U.S.$5,000,000 (or the equivalent thereof, as of any date of determination, in any other currency);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in respect of Permitted Intercompany Loans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens, incurred in the ordinary course of business for the purposes of securing the payment of any purchase price balance or the
refinancing of any purchase price balances of any assets (other than current assets (but including capital stock)) acquired by the Company
or any of its Subsidiaries provided that (i) any such Liens are restricted to the assets so acquired, (ii) the aggregate amount secured
by such Liens does not exceed U.S.$50,000,000 (or the equivalent thereof, as of any date of determination, in any other currency), and
(iii) in no event shall such Liens secure any Indebtedness outstanding under or pursuant to any Material Credit Facility; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in addition to those described in Subsections (a) through (m) above securing Indebtedness of the Company or any Subsidiary,
but only to the extent that the Indebtedness secured by each such Lien is permitted to be outstanding under Section 10.8 (provided, however,
that notwithstanding the foregoing, the Company shall not, and shall not permit any of the Subsidiaries to, secure any Indebtedness outstanding
under or pursuant to any Material Credit Facility pursuant to this Section 10.3(n)).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Leverage Ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not at any
time permit the Total Debt/EBITDA Ratio to exceed 3.5 to 1.0.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Interest Coverage Ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, as at
the end of any fiscal quarter of the Company, permit the Interest Coverage Ratio for the period of four fiscal quarters of the Company
ending on the last day of such fiscal quarter, to be less than 2.0 to 1.0.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subsidiary Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not permit
any Subsidiary to, create, assume, incur, guarantee or otherwise become liable in respect of any Indebtedness, excluding from the operation
of this Section:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness outstanding on the date of this Agreement and specified in <U>Schedule 5.15</U> and any extension, renewal or refunding
thereof, <U>provided</U> that the principal amount thereof outstanding immediately before giving effect to such extension, renewal or
refunding is not increased;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of a Person outstanding at the time such Person becomes a Subsidiary (and not incurred in anticipation thereof) and
any extension, renewal or refunding thereof, <U>provided</U> that the principal amount thereof outstanding immediately before giving effect
to such extension, renewal or refunding is not increased;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of any Guarantor which is a Subsidiary&nbsp;incurred after the date of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness owing to the Company or any Guarantor; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of a Subsidiary in addition to that otherwise permitted by the foregoing provisions of this Section 10.7, provided
that on the date the Subsidiary incurs or otherwise becomes liable with respect to any such additional Indebtedness and immediately after
giving effect thereto,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default exists, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the total amount of all Indebtedness permitted to be outstanding pursuant to this Section 10.7(e) does not exceed Indebtedness
permitted to be outstanding under Section 10.8.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Limitation on Priority Debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, at any
time, permit Priority Debt to exceed 10% of Consolidated Total Tangible Assets (as determined at the end of the then most recently ended
fiscal quarter of the Company).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Disposition of Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Subsidiary to, directly or indirectly, sell, lease, transfer or otherwise dispose of (collectively a <B>&#8220;Disposition&#8221;</B>)
any of its properties or assets unless, after giving effect to such proposed Disposition, (i) no Default or Event of Default shall have
occurred and be continuing, (ii) the assets subject to such Disposition shall be sold for consideration not less than the fair market
value of such assets, (iii) the aggregate book value of all assets that were the subject of a Disposition during the period commencing
on the first day of the then current fiscal year of the Company and ending on the date of such proposed Disposition (the <B>&#8220;Disposition
Date&#8221;</B>) does not exceed 15% of Consolidated Total Assets as at the end of the fiscal year of the Company ended immediately prior
to the Disposition Date and (iv) the aggregate book value of all assets that were the subject of a Disposition during the period commencing
as of December 31, 2021 through the applicable Disposition Date does not exceed 25% of Consolidated Total Assets as at the end of the
fiscal year of the Company ended immediately prior to such Disposition Date. Any Disposition of shares of stock of any Subsidiary shall,
for purposes of this Section, be valued at an amount that bears the same proportion to the total assets of such Subsidiary as the number
of such shares bears to the total number of shares of stock of such Subsidiary. Notwithstanding the foregoing, the following Dispositions
shall not be taken into account under this Section 10.9:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition pursuant to a transaction consummated in accordance with Section 10.2;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition of inventory, equipment, fixtures, supplies or materials made in the ordinary course of business at fair value;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition by a Guarantor to the Company or another Guarantor, or by any other Subsidiary to the Company or another Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions of shares in a Subsidiary, including a Wholly-Owned Subsidiary, to existing or new minority shareholders of such Subsidiary
in the ordinary course of business in connection with an acquisition of Persons previously owned by such shareholders or in connection
with incentive compensation arrangements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition the Net Proceeds of which are applied within 365 days of the related Disposition Date to either (A) the acquisition
by the Company or such Subsidiary, as the case may be, of operating assets of at least equivalent value to the assets which are the subject
of such Disposition (it being understood that &#8220;operating assets&#8221; shall not include cash or cash equivalents) or (B) the redemption
or repayment by the Company or such Subsidiary, as the case may be, of the Notes pursuant to an offer to make a prepayment or redemption
of Indebtedness pursuant to Section 8.4(a) and of any Indebtedness ranking pari passu with the Notes (other than any such Indebtedness
owing to the Company or any of its Subsidiaries or Affiliates and any such Indebtedness in respect of any revolving credit or similar
facility providing the Company or any of its Subsidiaries with the right to obtain loans or other extensions of credit from time to time,
except to the extent that in connection with repayment of such Indebtedness the availability of credit under such credit facility is permanently
reduced by an amount no less than the amount of such repayment). (To the extent that one or more holders do not accept the Disposition
Prepayment Offers or Secondary Disposition Prepayment Offers provided for in Section 8.4(a), the aggregate amount specified in such offers
(without duplication) shall be applied by the Company or such Subsidiary to the redemption or prepayment of other such Indebtedness ranking
pari passu with the Notes, if any, within such 365 day period.)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Terrorism Sanction Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not and will
not permit any Controlled Entity (a)&nbsp;to become (including by virtue of being owned or controlled by a Blocked Person), own or control
a Blocked Person or any Person that is the target of sanctions imposed by the United Nations or by the European Union, or (b) directly
or indirectly to have any investment in or engage in any dealing or transaction (including, without limitation, any investment, dealing
or transaction involving the proceeds of the Notes) with any Person if such investment, dealing or transaction (i) would cause any holder
to be in violation of any law or regulation applicable to such holder, or (ii) is prohibited by or subject to sanctions under any U.S.
Economic Sanctions, or (c) to engage, nor shall any Affiliate of either engage, in any activity that could subject such Person or any
holder to sanctions under CISADA or any similar law or regulation with respect to Iran or any other country that is subject to U.S. Economic
Sanctions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Line of Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will carry on
diligently and conduct its business in a proper and efficient manner so as to preserve and protect its properties, asset and income in
a prudent manner consistent with usual industry practice and the preservation of its business and assets, and it will cause its Subsidiaries
to do the same in respect of their respective businesses and assets and, in particular, without limiting the foregoing, it will not alter
its business plan so as to change materially the nature or scope of business, operations, or activities currently carried on by it or
its Subsidiaries, without obtaining the prior written consent of the Required Holders (which consent shall not be unreasonably withheld).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Restricted Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit the Subsidiaries to, make or permit any withdrawals or any other payments of money or equivalents thereof whatsoever (including,
without limitation, royalties, management fees, etc.) by or to the shareholders of the Company or its Affiliates, except for the following,
in each case provided no Event of Default has occurred and is continuing and no Event of Default will occur as a consequence thereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the payment of dividends, whether in cash or in specie;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>normal course distributions to minority shareholders of Subsidiaries of the Company as contemplated in the Company&#8217;s annual
business plan and within limits approved by the Required Holders annually;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>distributions and returns of capital (whether by retirement, redemption, repurchase, cancellation or otherwise) and normal course
issuer bids of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments upon exercise of the put options under the Shareholders Agreements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments upon exercise of the call options under the Shareholders Agreements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments on account of retirement, termination, death or disability, redemptions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Subsidiary to,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any acquisition of any business other than the acquisition of an Eligible Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>invest in investments and/or provide financial assistance, including, without limitation, to Unrestricted Entities exceeding an
aggregate initial investment value of U.S.$75,000,000 at any time; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>establish, incorporate, otherwise form, charter or create any new Subsidiary other than in connection with the acquisition of an
Eligible Business or other than in the ordinary course of business.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Amendments to Call Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not make,
or permit the making of, any change or modification to the call option provisions in the Shareholders Agreements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Canadian Pension Plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will not, and
will not permit any Subsidiary to, (a) establish or contribute to any Canadian Defined Benefit Pension Plan, or (b) acquire an interest
in any Person if such Person sponsors, administers, maintains or contributes to, or has any liability in respect of any Canadian Defined
Benefit Pension Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.</FONT></TD><TD STYLE="text-align: justify">EVENTS OF DEFAULT.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An <B>&#8220;Event of Default&#8221;</B>
shall exist if any of the following conditions or events shall occur and be continuing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default shall be made in the payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable,
whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default shall be made in the payment of any interest on any Note for more than three Business Days after the same becomes due and
payable; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>except as expressly permitted by Section 10.2, the Company or any of its Subsidiaries cease or threatens to cease to carry on all
or substantial part of the business currently carried on by the Company or such Subsidiary, or default shall be made</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company in the performance of or compliance with any term contained in Section 10.2, the proviso to Section 10.3(n), Section
10.4, Section 10.5, Section 10.6, Section 10.8, Section 10.9, Section 10.12, Section 10.13(a) or Section 10.15; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company if the Company fails (x) to make a Disposition Prepayment Offer or a Secondary Disposition Prepayment Offer, in
each case, in accordance with Section 8.4(a), or (y) to give a Change of Control Prepayment Notice or to make a Change of Control Prepayment
Offer, in each case, in accordance with Section 8.4(b); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company in the performance of or compliance with any other term contained herein or in any other Financing Document (other
than those referred to in paragraphs&nbsp;(a), (b), (c)(i) and (c)(ii) of this Section&nbsp;11) and (to the extent that such default is
capable of being remedied and during the 10 Business Day period referred to below the Company is proceeding actively and diligently in
good faith to remedy such default to the satisfaction of the Required Holders) such default is not remedied within 10 Business Days after
the earlier of (x) a Responsible Officer obtaining actual knowledge of such default and (y) the Company receiving written notice of such
default from any holder of a Note (any such written notice to be identified as a &#8220;notice of default&#8221; and to refer specifically
to this paragraph (c)(iii) of Section 11); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any representation, warranty or certification made in writing by or on behalf of the Company or any Guarantor or by any officer
of the Company or any Guarantor in this Agreement, any Guarantee or any other Financing Document, or in any writing furnished in connection
with the transactions contemplated hereby, proves to have been false or incorrect in any material respect on the date as of which made;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) any Event of Default under and as defined in the Credit Agreement, the 2015 Note Purchase Agreement or the 2022 NYL Shelf Agreement
(or an event of default under any agreement, document or instrument evidencing any other Material Credit Facility) shall have occurred
and be continuing, or (ii) the Company or any Subsidiary is in default (as principal or as guarantor or other surety) in the payment of
any principal of or premium or make-whole amount or interest on any other Indebtedness that is outstanding in an aggregate principal amount
equal to at least U.S.$50,000,000 (or the equivalent thereof, as of any date of determination, in any other currency) beyond any period
of grace provided with respect thereto, or (iii) the Company or any Subsidiary is in default in the performance of or compliance with
any term of any evidence of any Indebtedness in an aggregate outstanding principal amount equal to at least U.S.$50,000,000 (or the equivalent
thereof, as of any date of determination, in any other currency) or of any mortgage, indenture or other agreement relating thereto or
any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared (or one
or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly scheduled
dates of payment, or (iv) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time
or the right of the holder of Indebtedness to convert such Indebtedness into equity interests), (x) the Company or any Subsidiary has
become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of payment in an
aggregate outstanding principal amount equal to at least U.S.$50,000,000 (or the equivalent thereof, as of any date of determination,
in any other currency) of (y) or one or more Persons have the right to require the Company or any Subsidiary so to purchase or repay such
Indebtedness;&nbsp;or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company or any Subsidiary (i)&nbsp;is generally not paying, or admits in writing its inability to pay, its debts as they become
due, (ii)&nbsp;files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement
or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or
other similar law of any jurisdiction, (iii)&nbsp;makes an assignment for the benefit of its creditors, (iv)&nbsp;consents to the appointment
of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its
property, (v)&nbsp;is adjudicated as bankrupt, insolvent or to be liquidated, or (vi)&nbsp;takes corporate, partnership, company or other
similar action for the purpose of any of the foregoing; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a court or Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company, or any
Subsidiary, a custodian, receiver, monitor, sequestrator, trustee or other officer with similar powers with respect to it or with respect
to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any
other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of the Company or any Subsidiary, or any such petition shall be filed against the Company or
any Subsidiary and such petition shall not be dismissed within 30 days; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an application or an order is made, proceedings are commenced, or an application to a court or other steps are taken for the winding
up, liquidation, dissolution or administration of the Company or any Subsidiary, or a receiver, receiver and manager, administrative receiver,
monitor, sequestrator, trustee or similar officer is appointed to all or any of the assets and undertakings of the Company or any Subsidiary,
and such appointment continues undischarged for 30 days; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>one or more final judgments or orders for the payment of money aggregating in excess of an amount equal to 15% of Consolidated
Net Worth as of the end of the most recently ended fiscal quarter of the Company (or the equivalent thereof, as of any date of determination,
in any other currency), including, without limitation, any such final order enforcing a binding arbitration decision, are rendered against
one or more of the Company and its Subsidiaries and which judgments are not, within 30 days after entry thereof, bonded, discharged or
stayed pending appeal, or are not discharged within 30 days after the expiration of such stay; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if (i)&nbsp;any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof
or a waiver of such standards or extension of any amortization period is sought or granted under section&nbsp;412 of the Code, (ii) a
notice of intent to terminate&nbsp;any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have
instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified
the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii)&nbsp;the aggregate &#8220;amount of
unfunded benefit liabilities&#8221; (within the meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with
Title IV of ERISA, shall exceed an amount equal to 15% of Consolidated Net Worth as of the end of the most recently ended fiscal quarter
of the Company, (iv)&nbsp;the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant
to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any
ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare
benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary
thereunder; and any such event or events described in clauses (i) through (vi) above, either individually or together with any other such
event or events and any failure or failures referred to in Section 11(k), could reasonably be expected to have a Material Adverse Effect;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) the aggregate accumulated funding deficiency or other unfunded liability with respect to all Foreign Pension Plans (other than
pension plans) maintained by the Company and its Subsidiaries exceeds an amount equal to 15% of Consolidated Net Worth as of the end of
the most recently ended fiscal quarter of the Company (or its equivalent in other currencies), (ii) the accumulated funding deficiency
or other unfunded liability with respect to any Foreign Pension Plan that is a pension plan maintained by the Company or any Subsidiary
exceeds the maximum amount prescribed by any applicable laws or regulations of any Governmental Authority, or (iii) the Company or any
Subsidiary shall otherwise fail to comply with any laws, regulations or orders in the establishment, administration or maintenance of
any Foreign Pension Plan or shall fail to pay or accrue any premiums, contributions or other amounts required by applicable Foreign Pension
Plan documents or applicable laws; and any such failure either individually or in the aggregate together with any event or events referred
to in Section 11(j), could reasonably be expected to have a Material Adverse Effect; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) the obligations of the Company or any Guarantor under any Guarantee or any other Financing Document to which such Person is
a party, as the case may be, shall cease to be in full force and effect (except to the extent any such Financing Document has been terminated
in accordance with Section 9.8(a)) or shall be declared by a court or other Governmental Authority of competent jurisdiction to be void,
voidable or unenforceable against such Person, (ii) the Company, any Guarantor or any Person acting on behalf of the Company or any Guarantor
shall contest in any manner the validity, binding nature or enforceability of any Guarantee or other Financing Document, or (iii) the
Company or any Guarantor shall deny that it has any further liability or obligation under any Guarantee or other Financing Document, as
the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used in Section 11(j),
the terms <B>&#8220;employee benefit plan&#8221;</B> and <B>&#8220;employee welfare benefit plan&#8221;</B> shall have the respective
meanings assigned to such terms in section 3 of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.</FONT></TD><TD STYLE="text-align: justify">REMEDIES ON DEFAULT, ETC.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Acceleration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Event of Default with respect to the Company described in paragraph&nbsp;(f), (g) or (h) of Section 11 (other than an Event
of Default described in clause (i) of paragraph&nbsp;(f) or described in clause (vi) of paragraph&nbsp;(f) by virtue of the fact that
such clause encompasses clause (i) of paragraph&nbsp;(f)) has occurred, all the Notes then outstanding shall automatically become immediately
due and payable and the Facility shall automatically terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any other Event of Default has occurred and is continuing, the Required Holders may at any time at their option, by notice or
notices to the Company, declare all the Notes then outstanding to be immediately due and payable, and Prudential may, at its option, by
notice in writing to the Company, terminate the Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any Event of Default described in paragraph&nbsp;(a) or (b) of Section 11 has occurred and is continuing, any holder or holders
of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the
Company, declare all the Notes held by it or them to be immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon any Notes becoming due
and payable under this Section&nbsp;12.1, whether automatically or by declaration, such Notes will forthwith mature and the entire unpaid
principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon
at the Default Rate) and (y) the applicable Make-Whole Amount determined in respect of such principal amount (to the full extent permitted
by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice,
all of which are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain
its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the provision for
payment of a Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default,
is intended to provide compensation for the deprivation of such right under such circumstances.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other Remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any Default or Event of
Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable
under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an
action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein
or in any Note or in any other Financing Document, or for an injunction against a violation of any of the terms hereof or thereof, or
in aid of the exercise of any power granted hereby or thereby or by law or otherwise.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rescission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At any time prior to the date
which is 90 days after any Notes have been declared due and payable pursuant to paragraph (b) or (c) of Section 12.1, the Required Holders,
by written notice to the Company, may rescind and annul any such declaration and its consequences if (a)&nbsp;the Company has paid all
overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other
than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted
by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b)&nbsp;neither the Company nor any other Person
shall have paid any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other
than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to
Section&nbsp;19, and (d)&nbsp;no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes.
No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any
right consequent thereon.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Waivers or Election of Remedies, Expenses, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No course of dealing and no
delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice
such holder&#8217;s rights, powers or remedies. No right, power or remedy conferred on any holder of a Note by this Agreement, any Note
or any other Financing Document shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter
available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under Section 17, the Company will
pay to the holder of each Note on demand such further amount as shall be sufficient to cover all costs and expenses of such holder incurred
in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys&#8217; fees, expenses and
disbursements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">13.</FONT></TD><TD STYLE="text-align: justify">TAX INDEMNIFICATION.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any and all payments under this Agreement or the Notes to or for the account of any holder of a Note shall be made free and clear
of, and without deduction or withholding for or on account of, any Tax, except to the extent such deduction or withholding is required
by law. If any Tax is required by law to be deducted or withheld from any such payments by the Company, the Company will make such deductions
or withholding and pay to the relevant taxing authority the full amount deducted or withheld (including, without limitation, the full
amount of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any payment made to any holder pursuant
to this Subsection (a) as provided below) before penalties attach thereto or interest accrues thereon. In the event of the imposition
by or for the account of any Applicable Taxing Authority or of any Governmental Authority of any jurisdiction in which the Company resides
for tax purposes or any jurisdiction from or through which the Company is making any payment in respect of any Note, other than any Governmental
Authority of or in the United States of America or any political subdivision thereof or therein, of any Tax (<B>&#8220;Indemnifiable Tax&#8221;</B>)
upon or with respect to any payments in respect of any Note, whether by </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">withholding or otherwise, the Company hereby agrees to pay forthwith
from time to time in connection with each payment on the Notes, to each holder of a Note such additional amounts as shall be required
so that every payment received by such holder in respect of the Notes and every payment received by such holder under this Agreement will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Indemnifiable Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid
to such holder pursuant to this Subsection (a)) and any interest or penalties relating thereto, be less than the amount due and payable
to such holder in respect of such Note or under this Agreement before the assessment of such Indemnifiable Tax. In addition, the Company
shall indemnify each holder of Notes for the full amount of Indemnifiable Taxes paid or required to be paid by such holder on amounts
payable pursuant to this Agreement or the Notes and any liability (including penalties, interest and expenses) arising therefrom, together
with such amounts as will result in such holder of Notes receiving the amount that would otherwise have been received by it in the absence
of such Indemnifiable Taxes and the indemnification provided for herein. Except where the Company is required to deduct or withhold any
Indemnifiable Tax, each holder of Notes, upon becoming aware of its liability (or potential liability) for any Indemnifiable Taxes, shall
promptly notify the Company of such liability (or potential liability) for such Indemnifiable Taxes for which the Company is required
to indemnify such holder pursuant to this Subsection (a) and of the amount payable to it by the Company pursuant hereto, and the Company
shall pay such amounts either (x) directly to the Applicable Taxing Authority or other relevant Governmental Authority that imposed such
Indemnifiable Taxes, as the case may be, on or before the date such Indemnifiable Taxes are due or (y) if such holder of Notes has already
paid such Indemnifiable Taxes, to such holder of Notes within 10 days of the receipt of such notice (and, if such Indemnifiable Taxes
are not paid on or before the date specified in clause (x) or within the period specified in clause (y), as the case may be, shall bear
interest at the Default Rate thereafter). Such holder of Notes shall determine the amount payable to it, which determination shall be
conclusive in the absence of manifest error, and such holder shall provide the basis for determining such Indemnifiable Taxes with reasonable
specificity; provided that such holder shall not be required to disclose any confidential or proprietary information in connection therewith.
Notwithstanding anything contained in this Subsection (a) to the contrary, the Company shall not be obliged to pay such amounts to any
holder of a Note in respect of Indemnifiable Taxes to the extent Indemnifiable Taxes exceed the Indemnifiable Taxes that would have been
payable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not been a resident of Canada within the meaning of the <I>Income Tax Act </I>(Canada) or not used or held such
Note in the course of carrying on a business in Canada within the meaning of the <I>Income Tax Act</I> (Canada); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not had any connection with Canada or any territory or political subdivision thereof other than the mere holding
of a Note with the benefit of the Guarantees (or the receipt of any payments in respect thereof) or activities incidental thereto (including
enforcement thereof); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not dealt with the Company on a non-arm&#8217;s length basis (within the meaning of the <I>Income Tax Act</I> (Canada))
in connection with any such payment; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>but for the delay or failure by such holder (following a written request by the Company) in the filing with an appropriate Governmental
Authority or otherwise of forms, certificates, documents, applications or other reasonably required evidence (collectively <B>&#8220;Forms&#8221;</B>),
that are required to be filed by such holder to avoid or reduce such Taxes (so long as such Forms do not impose, in such holder&#8217;s
reasonable determination, an unreasonable burden in time, resources or otherwise on such holder) and that in the case of any of the foregoing
would not result in any confidential or proprietary income tax return information being revealed, either directly or indirectly, to any
Person and such delay or failure could have been lawfully avoided by such holder, <U>provided</U> that such holder shall be deemed to
have satisfied the requirements of this clause (iv) upon the good faith completion and submission of such Forms as may be specified in
a written request of the Company no later than 45 days after receipt by such holder of such written request (<U>provided</U>, that if
such Forms are Forms required pursuant to the laws of any jurisdiction other than the United States of America or any political subdivision
thereof, such written request shall be accompanied by such Forms in English or with an English translation thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Within 60 days after the date of any payment by the Company of any Tax pursuant to Subsection (a) in respect of any payment under
the Notes or this Section 13, the Company shall furnish to each holder of a Note the original tax receipt for the payment of such Tax
(or if such original tax receipt is not available, a duly certified copy of the original tax receipt), together with such other documentary
evidence with respect to such payments as may be reasonably requested from time to time by any holder of a Note. If the Company shall
have determined, with respect to any holder of Notes, that a deduction or withholding of Tax is required to be made with respect to such
holder and that no amounts are required to be paid to such holder under Subsection (a) of this Section&nbsp;13 as the result of an exemption
therefrom as provided in Subsection (a), the Company shall promptly inform such holder, in writing, of the imposition or withholding of
such Tax and of the applicable exemption set forth in Subsection (a) that the Company claims releases the Company from the obligation
to pay any such amount otherwise payable under Subsection (a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations of the Company under this Section 13 shall survive the transfer or payment of any Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company has made a payment to or on account of any holder of a Note pursuant to Subsection (a) above and such holder is
entitled to a refund of the Tax to which such payment is attributable from the Governmental Authority to which the payment of the Tax
was made and such refund is readily determinable by such holder (such amount to be no greater than an amount that, if paid to the Company
by such holder, would leave such holder in no worse position than would have existed had such Tax not been required by law to be paid)
and can be obtained by filing one or more Forms (so long as such Forms do not impose, in such holder&#8217;s reasonable determination,
an unreasonable burden in time, resources or otherwise on such holder), then (i) such holder shall, as soon as practicable after receiving
a written request therefor from the Company (which request shall specify in reasonable detail the Forms to be filed), file such Forms
and (ii)&nbsp;upon receipt of such refund, if any, promptly pay over such refund to the Company without interest. This Subsection (d)
shall not require any holder of Notes: (x) to account for any indirect taxation benefits arising from the deducting or withholding of
any Tax, (y) to disclose any confidential or proprietary information, or (z) to arrange its tax or financial affairs in any particular
manner.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">14.</FONT></TD><TD STYLE="text-align: justify">[RESERVED].</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">15.</FONT></TD><TD STYLE="text-align: justify">REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Registration of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall keep at
its principal executive office a register for the registration and registration of transfers of Notes. The name and address of each holder
of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such
register (it being understood that the Company shall have no obligation to verify such names and addresses and shall only record in the
register information it receives from the holders). If any holder of one or more Notes is a nominee, then (a) the name and address of
the beneficial owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such
beneficial owner&#8217;s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to
this Agreement. Prior to due presentment for registration of transfer, the Person(s) in whose name any Note(s) shall be registered shall
be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or
knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor,
a complete and correct copy of the names and addresses of all registered holders of Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transfer and Exchange of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon surrender of any Note
at the principal executive office of the Company for registration of transfer or exchange (and in the case of a surrender for registration
of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder&#8217;s
attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee
of such Note or part thereof), within ten (10) Business Days thereafter, the Company shall execute and deliver, at the Company&#8217;s
expense (except as provided below), one or more new Notes (as requested by the holder thereof) of the same Series as such surrendered
Note in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new
Note shall be payable to such Person as such holder may request and shall be substantially in the form of <U>Exhibit&nbsp;A</U> hereto.
Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated
the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover
any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations
of less than U.S.$100,000, <U>provided</U> that if necessary to enable the registration of transfer by a holder of its entire holding
of Notes, one Note may be in a denomination of less than U.S.$100,000. Any transferee, by its acceptance of a Note registered in its name
(or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Replacement of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon receipt by the Company
at the address and to the attention of the designated officer (all as specified in Section 20) of evidence reasonably satisfactory to
it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional
Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it (<U>provided</U> that if the holder of such
Note is, or is a nominee for, a Purchaser or another holder of a Note with a minimum net worth of at least U.S.$10,000,000 in excess of
the outstanding principal amount of such Note or a Qualified Institutional Buyer, such Person&#8217;s own unsecured agreement of indemnity
shall be deemed to be satisfactory), or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of mutilation, upon surrender and cancellation thereof,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">within ten (10) Business Days
thereafter, the Company at its own expense shall execute and deliver, in lieu thereof, a new Note of the same Series as such lost, stolen,
destroyed or mutilated Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed
or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">16.</FONT></TD><TD STYLE="text-align: justify">PAYMENTS ON NOTES.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Place of Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to Section 16.2, payments
of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in New York, New York at the
principal office of JPMorgan Chase Bank, N.A. in such jurisdiction. The Company may at any time, by notice to each holder of a Note, change
the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction
or the principal office of a bank or trust company in New York, New York.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Home Office Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">So long as any Purchaser or
any nominee of such Purchaser shall be the holder of any Note, and notwithstanding anything contained in Section 16.1 or in such Note
to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest, and any
other amounts which may become owing under this Agreement or the Notes, (a) by the method and at the address specified for such purpose
in such Purchaser&#8217;s Confirmation of Acceptance with respect to such Note or (b) by such other method or at such other address or
to such other account or accounts in the United States as such Purchaser shall have from time to time specified to the Company in writing
for such purpose, notwithstanding any contrary provision herein or in any Note with respect to the place of payment, without the presentation
or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with
or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably
promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated
by the Company pursuant to Section 16.1. Prior to any sale or other disposition of any Note held by any Purchaser or any nominee of such
Purchaser, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which
interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section&nbsp;15.2.
The Company will afford the benefits of this Section 16.2 to any Institutional Investor that is the direct or indirect transferee of any
Note purchased by any Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have
made in this Section 16.2.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">17.</FONT></TD><TD STYLE="text-align: justify">EXPENSES, ETC.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transaction Expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Whether or not the transactions
contemplated hereby are consummated, the Company will pay all costs and expenses (including reasonable attorneys&#8217; fees of a special
U.S. counsel and, if reasonably required by the Required Holders, local or other counsel) incurred by Prudential, the Purchasers and each
other holder of a Note in connection with such transactions, and with any amendments, waivers or consents under or in respect of this
Agreement, the Notes or the other Financing Documents (whether or not such amendment, waiver or consent becomes effective) within 15 Business
Days after the Company&#8217;s receipt of any invoice therefor, including, without limitation: (a) the costs and expenses incurred in
enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement, the Notes or the other Financing
Documents or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement,
the Notes or the other Financing Documents, or by reason of being a holder of any Note, (b) the costs and expenses, including reasonable
financial advisors&#8217; fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection
with any work-out or restructuring of the transactions contemplated hereby and by the Financing Documents, and (c) the costs and expenses
incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO provided,
that such costs and expenses under this clause (c) shall not exceed U.S.$5,000. The Company will pay, and will save Prudential, each Purchaser
and each other holder of a Note harmless from, (i) all claims in respect of any fees, costs or expenses, if any, of brokers and finders
(other than those, if any, retained by such Purchaser or other holder in connection with the purchase of the Notes), and (ii) any and
all wire transfer fees that any bank deducts from any payment to Prudential or under such Note to such holder or otherwise charges to
a holder of a Note with respect to a payment under such Note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will pay all stamp,
documentary or similar taxes which may be payable in respect of the execution and delivery of this Agreement, any of the Notes or any
other Financing Documents or of any amendment of, or waiver or consent under or with respect to, this Agreement, any of the Notes or any
other Financing Documents and will save each holder of a Note harmless against any loss or liability resulting from nonpayment or delay
in payment of any such tax required to be paid by the Company hereunder.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Survival.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligations of the Company
under this Section&nbsp;17 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of
this Agreement, the Notes or the other Financing Documents, and the termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">18.</FONT></TD><TD STYLE="text-align: justify">SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All representations and warranties
contained herein and in the other Financing Documents shall survive the execution and delivery of this Agreement, the Notes and the other
Financing Documents, and the purchase or transfer by each Purchaser of any Note or portion thereof or interest therein and the payment
of any Note, and until all amounts which may be or become payable by the Company or any Guarantor under or in connection with this Agreement,
the Notes or any other Financing Documents have been irrevocably paid in full. All such representations and warranties may be relied upon
by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of any Purchaser or any other holder
of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement
or any other Financing Document shall be deemed representations and warranties of the Company under this Agreement. Subject to the preceding
sentence, this Agreement, the Notes and the other Financing Documents embody the entire agreement and understanding between Prudential,
the Purchasers and the Company and supersede all prior agreements and understandings relating to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">19.</FONT></TD><TD STYLE="text-align: justify">AMENDMENT AND WAIVER.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement and the Notes
may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and
only with) the written consent of the Company and the Required Holders, except that (a) with the written consent of Prudential (and without
the consent of the Purchasers or any other holder of Notes) the provisions of Sections 2.2 and 4.1 may be amended or waived (except insofar
as any such amendment or waiver would affect any rights or obligations with respect to the purchase and sale of Notes which shall have
become Accepted Notes prior to such amendment or waiver), (b) with the written consent of all of the Purchasers which shall have become
obligated to purchase Accepted Notes of any Series (and not without the written consent of all such Purchasers), any of the provisions
of Sections 2.2, 3.2, 3.3 and 4.2 may be amended or waived insofar as such amendment or waiver would affect only rights or obligations
with respect to the purchase and sale of the Accepted Notes of such Series or the terms and provisions of such Accepted Notes, (c) no
amendment or waiver of any of the provisions of Section&nbsp;1, 2, 3, 4, 5, or 6 hereof, or any defined term (as it is used therein),
will be effective as to any Purchaser unless consented to by such Purchaser in writing, and (d) no amendment or waiver may, without the
written consent of each Purchaser and the holder of each Note at the time outstanding affected thereby, (i)&nbsp;subject to the provisions
of Section&nbsp;12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or
reduce the rate or change the time of payment or method of computation of (x) interest on the Notes or (y) the Make-Whole Amount, (ii)&nbsp;change
the percentage of the principal amount of the Notes the holders of which are required to consent to any amendment or waiver, or (iii)&nbsp;amend
any of Sections 8 (except as set forth in the first sentence of Section 8.5), 11(a), 11(b), 12, 13, 14, 19, 22 or 25.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Solicitation of Holders of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Solicitation</U>. The Company will provide Prudential and each holder of the Notes (irrespective of the amount of Notes then
owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable Prudential and such
holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the
provisions hereof or of the Notes or of any other Financing Document. The Company will deliver executed or true and correct copies of
each amendment, waiver or consent effected pursuant to the provisions of this Section&nbsp;19 to each holder of outstanding Notes promptly
following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment</U>. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental
or additional interest, fee or otherwise, or grant any security or provide credit support, to any holder of Notes as consideration for
or as an inducement to the entering into by any holder of Notes of any waiver or amendment of any of the terms and provisions hereof or
any other Financing Document unless such remuneration is concurrently paid, or security is concurrently granted or other credit support
concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such
waiver or amendment.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Binding Effect, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any amendment or waiver consented
to as provided in this Section&nbsp;19 applies equally to all holders of Notes and is binding upon them and upon each future holder of
any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment
or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or
impair any right consequent thereon. No course of dealing between the Company and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note or under any other Financing Document shall operate as a waiver of any rights of any holder of such
Note.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notes held by the Company, etc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Solely for the purpose of
determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented
to any amendment, waiver or consent to be given under this Agreement or the Notes or any other Financing Document, or have directed the
taking of any action provided herein, in the Notes or in any other Financing Document to be taken upon the direction of the holders of
a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company
or any Affiliate of the Company shall be deemed not to be outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">20.</FONT></TD><TD STYLE="text-align: justify">NOTICES.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All notices and communications
provided for hereunder shall be in writing and sent by (a)&nbsp;electronic mail (e-mail), (b) telefacsimile if the sender on the same
day sends a confirming copy of such notice by an internationally recognized overnight delivery service (charges prepaid), or (c)&nbsp;an
internationally recognized overnight delivery service (with charges prepaid). Any such notice must be sent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to any Purchaser or its nominee, to such Purchaser or nominee at the address (or telefacsimile number or email address) specified
for such communications in the Purchaser Schedule attached to the applicable Confirmation of Acceptance for the Notes held by such Purchaser,
or in each case, at such other address (or telefacsimile number or email address) as such Purchaser or nominee shall have specified to
the Company in writing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to any other holder of any Note, to such holder at such address (or telefacsimile number or email address) as such other holder
shall have specified to the Company in writing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to the Company, to the Company at its address set forth at the beginning hereof to the attention of Douglas G. Cooke, or at
such other address (or telefacsimile number or email address) as the Company shall have specified to the holder of each Note in writing,
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to Prudential, to Prudential at its address set forth in the addressee line to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Notices under this Section 20
will be deemed given only when actually received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Notwithstanding anything to
the contrary in this Section 20, any communication pursuant to Section 2.2 shall be made by the method specified for such communication
in Section 2.2, and shall be effective to create any rights or obligations under this Agreement only if, in the case of a telephone communication,
an Authorized Officer of the party conveying the information and of the party receiving the information are parties to the telephone call,
and in the case of an email communication, the communication is signed by an Authorized Officer of the party conveying the information,
addressed to the attention of an Authorized Officer of the party receiving the information, and in fact received at the email address
which is listed for the party receiving the communication in the Information Schedule attached hereto or at such other email address as
the party receiving the information shall have specified in writing to the party sending such information.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">21.</FONT></TD><TD STYLE="text-align: justify">REPRODUCTION OF DOCUMENTS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement, the other
Financing Documents and all documents relating thereto, including, without limitation, (a)&nbsp;consents, waivers and modifications that
may hereafter be executed, (b)&nbsp;documents received by any Purchaser at the Closing (except the Notes themselves), and (c)&nbsp;financial
statements, certificates and other information previously or hereafter furnished to any holder of Notes, may be reproduced by such holder
of Notes by any photographic, photostatic, electronic, digital or other similar process and such holder of Notes may destroy any original
document so reproduced. The Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall
be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence
and whether or not such reproduction was made by such holder of Notes in the regular course of business) and any enlargement, facsimile
or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 21 shall not prohibit the Company
or any holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing
evidence to demonstrate the inaccuracy of any such reproduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">22.</FONT></TD><TD STYLE="text-align: justify">CONFIDENTIAL INFORMATION.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes of this Section
22, <B>&#8220;Confidential Information&#8221;</B> means information delivered to Prudential or any holder of Notes by or on behalf of
the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary
in nature and that was clearly marked or labeled or otherwise adequately identified when received by Prudential or such holder of Notes
as being confidential information of the Company or such Subsidiary, <U>provided</U> that such term does not include information that
(a)&nbsp;was publicly known or otherwise known to Prudential or such holder of Notes prior to the time of such disclosure, (b)&nbsp;subsequently
becomes publicly known through no act or omission by Prudential or such holder of Notes or any Person acting on Prudential&#8217;s or
such holder&#8217;s behalf, (c)&nbsp;otherwise becomes known to Prudential or such holder of Notes other than through disclosure by the
Company or any Subsidiary or (d) constitutes financial statements delivered to Prudential or such holder of Notes under Section 7.1 that
are otherwise publicly available. Prudential and each holder of Notes will maintain the confidentiality of such Confidential Information
in accordance with procedures adopted by Prudential and such holder of Notes in good faith to protect confidential information of third
parties delivered to Prudential or such holder of Notes, <U>provided</U> that Prudential and such holder of Notes may deliver or disclose
Confidential Information to (i)&nbsp;Prudential&#8217;s or such holder&#8217;s directors, officers, employees, agents, attorneys, trustees,
</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">members, partners, equity holders and affiliates (to the extent such disclosure reasonably relates to the administration of this Agreement
and the investment represented by such holder&#8217;s Notes), (ii) Prudential&#8217;s or such holder&#8217;s auditors, financial advisors
and other professional advisors who agree (for the benefit of the Company) to hold confidential the Confidential Information substantially
in accordance with the terms of this Section 22, (iii)&nbsp;any other holder of any Note, (iv)&nbsp;any Institutional Investor to which
such holder of Notes sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in
writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section&nbsp;22), (v)&nbsp;any Person
from which such holder of Notes offers to purchase any security of the Company (if such Person has agreed in writing prior to its receipt
of such Confidential Information to be bound by the provisions of this Section&nbsp;22), (vi)&nbsp;any federal or state regulatory authority
having jurisdiction over Prudential or such holder of Notes, (vii)&nbsp;the NAIC or the SVO or any similar organization, or any nationally
recognized rating agency that requires access to information about Prudential&#8217;s or such holder&#8217;s investment portfolio or (viii)&nbsp;any
other Person to which such delivery or disclosure may be necessary or appropriate (w)&nbsp;to effect compliance with any law, rule, regulation
or order applicable to such holder of Notes, (x)&nbsp;in response to any subpoena or other legal process, (y)&nbsp;to the extent reasonably
required of Prudential or such holder of Notes, in connection with any litigation to which Prudential or such holder of Notes is a party
or (z)&nbsp;if an Event of Default has occurred and is continuing, to the extent Prudential or such holder of Notes may reasonably determine
such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under
such holder&#8217;s Notes, this Agreement or the other Financing Documents. Each holder of a Note, by its acceptance of a Note, will be
deemed to have agreed to be bound by and to be entitled to the benefits of this Section 22 as though it were a party to this Agreement.
On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to
such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such
holder will enter into an agreement with the Company embodying the provisions of this Section 22.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event that as a condition
to receiving access to information relating to the Company or any Subsidiary in connection with the transactions contemplated by or otherwise
pursuant to this Agreement, Prudential or any holder of a Note is required to agree to a confidentiality undertaking (whether through
IntraLinks, another secure website, a secure virtual workspace or otherwise) which is different from this Section 22, this Section 22
shall not be amended thereby and, as between Prudential or such holder and the Company, this Section 22 shall supersede any such other
confidentiality undertaking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">23.</FONT></TD><TD STYLE="text-align: justify">[RESERVED].</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">24.</FONT></TD><TD STYLE="text-align: justify">JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THE COMPANY AGREES THAT ANY
LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE NOTES, ANY OTHER FINANCING DOCUMENT OR ANY OTHER DOCUMENT
EXECUTED IN CONNECTION HEREWITH, OR ANY LEGAL ACTION OR PROCEEDING TO EXECUTE OR OTHERWISE </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ENFORCE ANY JUDGMENT OBTAINED AGAINST THE COMPANY
FOR BREACH HEREOF OR THEREOF, OR AGAINST ANY OF ITS PROPERTIES, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK BY ANY PURCHASER OR ON ANY PURCHASER&#8217;S BEHALF OR BY OR ON BEHALF OF ANY HOLDER
OF A NOTE, AS ANY PURCHASER OR SUCH HOLDER MAY ELECT, AND THE COMPANY HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE NON-EXCLUSIVE
JURISDICTION OF SUCH COURTS FOR PURPOSES OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY HEREBY IRREVOCABLY APPOINTS AND DESIGNATES
CORPORATION SERVICE COMPANY, WHOSE ADDRESS IS 19 WEST 44TH STREET, SUITE 200, NEW YORK, NY 10036, OR ANY OTHER PERSON HAVING AND MAINTAINING
A PLACE OF BUSINESS IN THE STATE OF NEW YORK WHOM THE COMPANY MAY FROM TIME TO TIME HEREAFTER DESIGNATE (HAVING GIVEN 30 DAYS&#8217; NOTICE
THEREOF TO EACH HOLDER OF A NOTE THEN OUTSTANDING), AS THE DULY AUTHORIZED AGENT FOR ACCEPTANCE OF SERVICE OF LEGAL PROCESS OF THE COMPANY.
THE COMPANY HEREBY AGREES THAT SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE EFFECTED BY SERVING NOTICE UPON CORPORATION SERVICE COMPANY
OR ANY SUCH OTHER PERSON AND BY MAILING NOTICE OF SUCH SERVICE BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL),
POSTAGE PREPAID, TO IT AT ITS ADDRESS SPECIFIED IN SECTION 20 OR AT SUCH OTHER ADDRESS OF WHICH EACH HOLDER OF A NOTE SHALL HAVE BEEN
NOTIFIED PURSUANT THERETO<FONT STYLE="text-transform: uppercase">. Nothing in this Section 24 shall affect the right of any holder of
a Note to serve process in any manner permitted by law, or limit any right that the holders of any of the Notes may have to bring proceedings
against the Company in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction
in any other jurisdiction. IN A</FONT>DDITION, THE COMPANY HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT,
THE NOTES, ANY OTHER FINANCING DOCUMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH BROUGHT IN THE COURTS OF THE STATE OF NEW
YORK OR THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING
BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT
ON OR WITH RESPECT TO THIS AGREEMENT, THE NOTES, THE GUARANTEES AND ANY OTHER FINANCING DOCUMENTS OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION
HEREWITH OR THEREWITH.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">25.</FONT></TD><TD STYLE="text-align: justify">OBLIGATION TO MAKE PAYMENTS IN U.S. DOLLARS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments made by the Company
under this Agreement, the Notes or any other Financing Document, as the case may be, shall be in U.S. Dollars and the obligations of the
Company to make payments in U.S. Dollars of any of its obligations under this Agreement, the Notes or any other Financing Document shall
not be discharged or satisfied by any tender, or any recovery pursuant to any judgment, which is expressed in or converted into any currency
other than U.S. Dollars, except to the extent such tender or recovery shall result in the actual receipt by the holder of any Note of
the full amount of U.S. Dollars expressed to be payable in respect of any such obligations. The obligation of the Company to make payments
in U.S. Dollars as aforesaid shall be enforceable as an alternative or additional cause of action for the purpose of recovery in U.S.
Dollars of the amount, if any, by which such actual receipt shall fall short of the full amount of U.S. Dollars expressed to be payable
in respect of any such obligations, and shall not be affected by judgment being obtained for any other sums due under this Agreement,
the Notes or any other Financing Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">26.</FONT></TD><TD STYLE="text-align: justify">MISCELLANEOUS.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Successors and Assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All covenants and other agreements
contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors
and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payments Due on Non-Business Days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Anything in this Agreement
or the Notes or any other Financing Document to the contrary notwithstanding (but without limiting the requirement in Section 8.5 and
Section 8.7 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal
of or Make-Whole Amount or interest on any Note (or any amount payable by the Company to any holder of the Notes pursuant to Section 13(a)
hereof) that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional
days elapsed in the computation of the interest payable on such next succeeding Business Day; <U>provided</U> that if the Maturity Date
of any Note is a date other than a Business Day, the payment otherwise due on such Maturity Date shall be made on the next succeeding
Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Severability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Construction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each covenant contained herein
shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance
with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where
any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall
be applicable whether such action is taken directly or indirectly by such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Defined terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221; shall be deemed
to be followed by the phrase &#8220;without limitation.&#8221; The word &#8220;will&#8221; shall be construed to have the same meaning
and effect as the word &#8220;shall.&#8221; Unless the context requires otherwise (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein)
and, for purposes of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 15, (b) subject
to Section 26.1, any reference herein to any Person shall be construed to include such Person&#8217;s successors and assigns, (c) the
words &#8220;herein,&#8221; &#8220;hereof&#8221; and &#8220;hereunder,&#8221; and words of similar import, shall be construed to refer
to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Sections shall be construed
to refer to Sections of this Agreement, and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer
to such law or regulation as amended, modified or supplemented from time to time. References herein to any time of day are to New York
City local time, unless otherwise specified.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Statement of Interest Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of any legislation
respecting the statement of interest rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent
to the rate specified in the Notes as being &#8220;computed on the basis of a 360-day year of twelve 30-day months&#8221; is the rate
so specified, calculated and payable on a quarterly or semi-annual basis, as applicable; and the use of the term &#8220;360-day year of
twelve 30-day months&#8221; is for matters of calculation of the quarterly or semi-annual interest payments in respect of the Notes (as
applicable) and does not alter the yearly rate described above.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement may be executed
in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart
may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of
an electronic signature (including execution via authenticated electronic signature platform DocuSign or a similar electronic signature
application) to, or a signed copy of, this Agreement, any Request for Purchase and any Confirmation of Acceptance by facsimile, email
(with .pdf attachment) or other electronic transmission shall be fully binding on the parties to the same extent as the delivery of the
signed originals and shall be admissible into evidence for all purposes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governing Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS AGREEMENT SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, EXCLUDING
CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounting Terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All accounting terms used
herein which are not expressly defined in this Agreement have the meanings respectively given to them in accordance with U.S. GAAP, except
as otherwise provided in the last paragraph of this Section 26.8. Except as otherwise specifically provided herein, (a) all computations
made pursuant to this Agreement shall be made in accordance with U.S. GAAP, and (b) all financial statements shall be prepared in accordance
with U.S. GAAP. For purposes of determining compliance with this Agreement (including, without limitation, Section 9, Section 10 and the
definition of &#8220;Indebtedness&#8221;), any election by the Company (for itself and/or its Subsidiaries) to measure any financial liability
using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification Topic No. 825-10-25 &#8211; Fair
Value Option, International Accounting Standard 39 &#8211; Financial Instruments: Recognition and Measurement or any similar accounting
standard) shall be disregarded and such determination shall be made as if such election had not been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event that any Accounting
Change shall occur and such change would affect the calculation of any covenant or other requirement in this Agreement, then, upon written
notice from the Company to the holders of the Notes, or from the Required Holders to the Company, such changes shall be disregarded in
calculating or construing all covenants and other requirements in this Agreement and all such covenants and other requirements shall continue
to be calculated or construed as if such Accounting Change had not occurred (except that such Accounting Change shall be reflected in
the financial statements required by Sections 7.1(a) and 7.1(b)) and the Company shall provide to the holders of Notes a reconciliation
between calculations of such covenant or other requirement made both before and after giving effect to such Accounting Change.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transaction References.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company agrees that Prudential
may (a) refer to its role in establishing this Agreement, as well as the identity of the Company and the maximum aggregate principal amount
of the Notes and the date on which the Agreement was established, on its internet site or in marketing materials, press releases, published
&#8220;tombstone&#8221; announcements or any other print or electronic medium, and (b) display the corporate logo of the Company in conjunction
with any such reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><I>[Remainder of page intentionally
left blank. Next page is signature page.]</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you are in agreement with
the foregoing, please sign the form of agreement on the accompanying counterpart of this Agreement and return it to the Company, whereupon
this Agreement shall become a binding agreement among Prudential, the Purchasers and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: justify">Very truly yours,</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">FIRSTSERVICE CORPORATION</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 10%">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 40%">&ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: 400"><I>Jeremy
    Rakusin</I><FONT STYLE="font-style: normal">&rdquo;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="text-align: justify">Jeremy Rakusin</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">This Agreement is hereby</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">accepted and agreed to as</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; width: 10%">PGIM, INC.</TD>
    <TD STYLE="vertical-align: bottom; width: 40%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: 400"><I>Engin Okaya</I><FONT STYLE="font-style: normal">&rdquo;</FONT></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Name:</TD>
    <TD STYLE="text-align: left">Engin Okaya</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Title:</TD>
    <TD STYLE="text-align: left">Vice President</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>DEFINED TERMS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used herein, the following
terms have the respective meanings set forth below or set forth in the Section hereof following such term:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>2015
Note Purchase Agreement&#8221;</B> <FONT STYLE="font-weight: normal">means that certain Amended and Restated Note and Guarantee Agreement,
dated June 1, 2015, between the Company and the 2015 Noteholders, </FONT>as amended to date and as the same may from time to time be
amended, modified supplemented, refinanced or replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;2015 Noteholders&#8221;
</B>means the holders from time to time of the notes issued pursuant to the terms of the 2015 Note Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;2015 Prudential
Notes</B>&#8221; means the notes issued pursuant to the terms of the 2015 Note Purchase Agreement that are held by any Prudential Affiliate,
as the same may from time to time be amended, modified, supplemented, refinanced or replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>2022 NYL Shelf Agreement</B>&#8221;
means that certain Master Note Agreement, dated as of September 29, 2022, between the Company, New York Life, the purchasers of the notes
issued thereunder and the other purchasers from time to time party thereto, as the same may from time to time be amended, modified supplemented,
refinanced or replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Acceptable Rating
Agency</B>&#8221; means (a) any one of S&amp;P, Moody&#8217;s, Fitch, Kroll or DBRS, or (b) any other credit rating agency that is recognized
as a nationally recognized statistical rating organization by the SEC and approved by the Required Holders, so long as, in each case,
any such credit rating agency described in clause (a) or (b) above continues to be a nationally recognized statistical rating organization
recognized by the SEC and is approved as a &#8220;Credit Rating Provider&#8221; (or other similar designation) by the NAIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Acceptance&#8221;
</B><FONT STYLE="font-weight: normal">is defined in Section 2.2(e).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Acceptance
Day&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(e).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Acceptance
Window&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(d).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Accepted
Note&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(e).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Accounting Changes</B>&#8221;
refers to changes in accounting principles required by the promulgation of any rule, regulation, pronouncement or opinion by the Financial
Accounting Standards Board or the American Institute of Certified Public Accountants or, if applicable, the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Acquisition Expenses</B>&#8221;
means one time professional costs and expenses (disclosed in writing to the holders of Notes summarizing such costs and expenses) incurred
by the Company or any of its Subsidiaries in connection with the consummation of the acquisition of a Person, not exceeding the aggregate
amount, on a consolidated basis for the Company and its Subsidiaries, of U.S.$15,000,000 in any fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Affected Note&#8221;</B>
is defined in Section&nbsp;8.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Affiliate&#8221;</B>
means, at any time, (a) with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries
Controls, or is Controlled by, or is under common Control with, such first Person, (b) with respect to the Company, shall include any
other Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company
or any Person of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, 10% or more
of any class of voting or equity interests, and (c) with respect to Prudential, shall include any managed account, investment fund or
other vehicle for which Prudential or any Prudential Affiliate acts as investment advisor or portfolio manager. Unless the context otherwise
clearly requires, any reference to an &#8220;Affiliate&#8221; is a reference to an Affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Agreement&#8221;</B>
means this Agreement, including all Exhibits and Schedules attached to this Agreement, as it may be amended, restated, supplemented or
otherwise modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Annual Report&#8221;</B>
is defined in Section&nbsp;5.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Anti-Corruption
Laws&#8221; </B>is defined in Section 5.16(d)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Anti-Money Laundering
Laws&#8221; </B>is defined in Section 5.16(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Applicable Law</B>&#8221;
means all laws, rules, regulations and legally binding governmental guidelines applicable to any Person and its property, conduct, transaction,
agreement or matter in question, including all applicable statutory law and common law, and all provisions of constitutions, treaties,
statutes, rules, regulations, orders and decrees of Governmental Authorities (having the force of law) and, with respect to any Person,
such Person&#8217;s constating documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Applicable Taxing
Authority&#8221;</B> is defined in Section&nbsp;5.9(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Authorized Officer</B>&#8221;
means (a) in the case of the Company, its chief executive officer, its chief financial officer, any other Person authorized by the Company
to act on behalf of the Company and designated as an &#8220;Authorized Officer&#8221; of the Company in the <U>Information Schedule</U>
attached hereto or any other Person authorized by the Company to act on behalf of the Company and designated as an &#8220;Authorized Officer&#8221;
of the Company for the purpose of this Agreement in an Officer's Certificate executed by the Company's chief executive officer, chief
financial officer or an Authorized Officer and delivered to Prudential, and (ii) in the case of Prudential, any officer of Prudential
designated as its &#8220;Authorized Officer&#8221; in the <U>Information Schedule</U> or any officer of Prudential designated as its &#8220;Authorized
Officer&#8221; for the purpose of this Agreement in a certificate executed by one of its Authorized Officers or a lawyer in its law department
and delivered to the Company. Any action taken under this Agreement on behalf of the Company by any individual who on or after the date
of this Agreement shall have been an Authorized Officer of the Company and whom Prudential in good faith believes to be an Authorized
Officer of the Company at the time of such action shall be binding on the Company even though such individual shall have ceased to be
an Authorized Officer of the Company, and any action taken under this Agreement on behalf of Prudential by any individual who on or after
the date of this Agreement shall have been an Authorized Officer of Prudential and whom the Company in good faith believes to be an Authorized
Officer of Prudential at the time of such action shall be binding on Prudential even though such individual shall have ceased to be an
Authorized Officer of Prudential.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Available
Facility Amount&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Average
Life&#8221;</B> <FONT STYLE="font-weight: normal">means, with respect to any issuance of Notes, the number of years (calculated to the
nearest one-twelfth year) obtained by dividing (i) the principal amount of such Note into (ii) the sum of the products obtained by multiplying
(a) the principal amount of each proposed mandatory repayment of the principal thereof by (b) the number of years (calculated to the
nearest one-twelfth year) which will elapse between the applicable Closing Date with respect to such Note and the date of such mandatory
prepayment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Banks&#8221; </B>means
the lenders from time to time a party to the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Blocked Person&#8221;
</B>is defined in Section 5.16(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Business Day&#8221;</B>
means any day other than a Saturday, a Sunday or a day on which commercial banks in New York City or Toronto, Ontario, Canada are required
or authorized to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Canadian Defined
Benefit Pension Plan</B>&#8221; means a pension plan for the purposes of any applicable pension benefits standards statute or regulation
in Canada, which contains a &#8220;defined benefit provision&#8221; as defined in subsection 147.1(1) of the Income Tax Act (Canada).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Canadian Guarantor&#8221;</B>
means each Guarantor organized under the laws of Canada or any province or jurisdiction thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Cancellation
Date&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(g)(iii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Cancellation
Fee&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(g)(iii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Capital Lease&#8221;</B>
means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the
incurrence of a liability in accordance with U.S. GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Cash Amount</B>&#8221;
means, at any time, the unpaid cash consideration payable in respect of any purchase of shares by the Company or any Subsidiary in the
capital stock of any Subsidiary pursuant to any call option right in favor of the Company or any Subsidiary, as the case may be, which
has been exercised in accordance with the terms of any Shareholders Agreement in respect of such Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Change of Control&#8221;</B>
means any change in ownership of shares of the Company which results in any shareholder or group of related or affiliated shareholders
owning shares of the Company having voting rights which carry greater than thirty percent (30%) of the voting rights attached to all outstanding
shares of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Change of Control
Prepayment Notice&#8221; </B>is defined in Section 8.4(b)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Change of Control
Prepayment Offer&#8221; </B>is defined in Section 8.4(b)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;CISADA</B>&#8221;
is defined in Section 5.16(a)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Closing&#8221;</B>
is defined in Section 3.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Closing
Date&#8221;</B> <FONT STYLE="font-weight: normal">means, with respect to any Accepted Note, the Business Day specified for the closing
of the purchase and sale of such Accepted Note in the Confirmation of Acceptance for such Accepted Note, provided that (i) if the Company
and the Purchaser which is obligated to purchase such Accepted Note agree on an earlier Business Day for such closing, the &#8220;Closing
Date&#8221; for such Accepted Note shall be such earlier Business Day, and (ii) if the closing of the purchase and sale of such Accepted
Note is rescheduled pursuant to Section 3.3, the Closing Date for such Accepted Note, for all purposes of this Agreement except references
to &#8220;original Closing Date&#8221; in Section 2.2(g)(ii), shall mean the Rescheduled Closing Date with respect to such Accepted Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Code&#8221;</B>
means the U.S. Internal Revenue Code of 1986 of the United States of America, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Company&#8221;</B>
is defined in the first paragraph of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Company Successor</B>&#8221;
is defined in Section 10.2(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Confidential Information&#8221;</B>
is defined in Section&nbsp;22.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Confirmation
of Acceptance&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(e).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Confirmation
of Guarantee&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 4.2(e).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Consolidated Net
Earnings&#8221; </B>means, with respect to any period, the net earnings of the Company and its Subsidiaries for such period determined
in accordance with U.S. GAAP and excluding (i) any extraordinary items and (ii) any equity interest of the Company in the unremitted earnings
of any Person that is not a Subsidiary.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Consolidated Net
Worth&#8221; </B>at any time means the sum of shareholders&#8217; equity, preferred stock and non-controlling interest as would be shown
in the consolidated financial statements of the Company and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Consolidated Total
Assets&#8221; </B>at any time means the total assets of the Company and its Subsidiaries as would be shown in the consolidated financial
statements of the Company and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Consolidated Total
Tangible Assets</B>&#8221; at any time means Consolidated Total Assets minus all amounts that would be shown as goodwill or other intangible
assets on a consolidated balance sheet of the Company and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Control</B>&#8221;
means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise; and the term &#8220;<B>Controlled</B>&#8221; shall have
meaning correlative to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Controlled Entity&#8221;
</B>means (i) any of the Subsidiaries of the Company and any of their or the Company&#8217;s respective Controlled Affiliates and (ii)
if the Company has a parent company, such parent company and its Controlled Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Credit Agreement&#8221;</B>
means the Second Amended and Restated Credit Agreement dated as of February 17, 2022, among the Company, FirstService (USA), Inc., the
Subsidiaries of the Company named as Guarantors therein, the Banks named on the execution pages thereto, The Toronto-Dominion Bank, in
its capacity as Canadian administration agent and the other various parties acting as agents thereunder, as the same may from time to
time be amended, modified supplemented, refinanced or replaced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Crown&#8221;</B>
means the Crown in Right of Canada or of any Province or Territory thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>DBRS</B>&#8221;
means DBRS, Inc. or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Debt Rating</B>&#8221;
means the debt rating of the Notes as determined from time to time by any Acceptable Rating Agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Default&#8221;</B>
means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become
an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Default Rate&#8221;</B>
means that rate of interest that is the greater of (i)&nbsp;2.00% per annum above the otherwise applicable rate of interest on the Notes
or (ii)&nbsp;2.00% over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. in New York, New York as its &#8220;base&#8221;
or &#8220;prime&#8221; rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Delayed
Delivery Fee&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(g)(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Disclosure Documents&#8221;</B>
is defined in Section 5.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Disposition&#8221;</B>
is defined in Section 10.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Disposition Date&#8221;</B>
is defined in Section 10.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Disposition Prepayment
Date</B>&#8221; is defined in Section 8.4(a)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Disposition Prepayment
Offer</B>&#8221; is defined in Section 8.4(a)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>EBITDA</B>&#8221;
means, for any period, Consolidated Net Earnings for such period plus the following to the extent deducted in determining such Consolidated
Net Earnings: depreciation, amortization, interest expense, income taxes, the non-controlling interest redemption increment, Acquisition
Expenses, non-cash charges of equity compensations, the non-controlling interest share of earnings as stated on the consolidated financial
statements of the Company and its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Eligible Business</B>&#8221;
means any business to be acquired by the Company or a Subsidiary which is consistent with the nature of the overall business focus of
the Company and its Subsidiaries as a diversified services business group which services may include the sale, installation, or fabrication
of products that are ancillary to the services being provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Environmental Laws&#8221;</B>
means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits,
concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment
or the release of any materials into the environment, including but not limited to those related to Hazardous Materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;ERISA&#8221;</B>
means the Employee Retirement Income Security Act of 1974 of the United States of America, as amended from time to time, and the rules
and regulations promulgated thereunder from time to time in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;ERISA Affiliate&#8221;</B>
means any trade or business (whether or not incorporated) that is treated as a single employer together with the Company under section
414 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Event of Default&#8221;</B>
is defined in Section 11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Facility&#8221;
</B><FONT STYLE="font-weight: normal">is defined in Section 2.2(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Financial Contract
Obligations&#8221;</B> means all obligations, present and future, direct or indirect, contingent or absolute, of the Company or its Subsidiaries
in respect of (in each case as determined on a &#8220;marked to market&#8221; basis on the date of determining the amount thereof):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
currency or interest rate swap agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
swap, future, forward or other foreign exchange agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
forward rate agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
derivative, combination or option in respect of, or agreement similar to, an agreement or contract referred to in the foregoing clauses
(i), (ii) or (iii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
master agreement in respect of any agreement or contract referred to in the foregoing clauses (i), (ii) or (iii); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Guaranty of the liabilities under an agreement or contract referred to in the foregoing clauses (i), (ii) or (iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Financing Documents&#8221;</B>
means this Agreement, the Notes, the Guarantees, each Confirmation of Guarantee, each Request for Purchase, each Confirmation of Acceptance
and each other Guaranty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Fitch</B>&#8221;
means Fitch Ratings, Inc. or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Foreign Pension
Plan&#8221;</B> means any plan, fund (including, without limitation, any super-annuation fund) or other similar program established or
maintained outside the United States of America by the Company or any Subsidiary primarily for the benefit of employees residing outside
the United States of America of the Company or such Subsidiary which plan, fund or other similar program provides for retirement income
for such employees, results in a deferral of income for such employees in contemplation of retirement or provides for payments to be made
to such employees upon termination of employment, and which plan is not subject to ERISA or the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Forms&#8221;</B>
is defined in Section 13(a)(iv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Funding Instruction
Letter&#8221;</B> is defined in Section 4.2 (m).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Governmental Authority&#8221;</B>
means</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
government of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada,
the United States of America or any Province, Territory, State or other political subdivision of either thereof, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over
any properties of the Company or any Subsidiary, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
entity or agency exercising executive, legislative, judicial, regulatory, taxing authority or administrative functions of, or pertaining
to, any such government.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Governmental Official&#8221;
</B>means any governmental official or employee, employee of any government-owned or government-controlled entity or Governmental Authority,
political party, any official of a political party, candidate for political office, official of any public international organization
or anyone else acting in an official capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Guarantees&#8221;</B>
means (a) each Guarantee to be executed by each Guarantor as of the first Closing Date under this Agreement pursuant to Section 4.2(e)
hereof, and (b) any other guarantee of a Guarantor of the obligations of the Company under this Agreement and the Notes, each substantially
in the form of <U>Exhibit D</U> and as may be amended, restated or otherwise modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Guarantor&#8221;</B>
means (a) all present and future: (i) parents (if any) of the Company; (ii) Wholly-Owned Subsidiaries that are Material Subsidiaries in
Reliable Jurisdictions; (iii) Wholly-Owned Subsidiaries that are parent entities (in Reliable Jurisdictions) of each Material Subsidiary,
which is not an Unrestricted Entity, (whether or not such Material Subsidiary is a Wholly-Owned Subsidiary); and (iv) Wholly-Owned Subsidiaries,
each of which is the immediate top holding company of a Reliable Jurisdiction, provided that the EBITDA for all the Subsidiaries (on a
cumulative basis) in such Reliable Jurisdiction is equal to or greater than 2% of EBITDA in any Fiscal Year; (b) any Person who guarantees
or otherwise becomes liable at any time, whether as a borrower, issuer or additional or co-borrower or co-issuer or otherwise, for or
in respect of any Indebtedness under any Material Credit Facility, and (c) any other Person who has provided a guarantee of the Company&#8217;s
obligations hereunder in favor of the holders of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Guarantor Successor&#8221;</B>
is defined in Section 10.2(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Guaranty&#8221;</B>
means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments
for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any
other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement,
contingent or otherwise, by such Person:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
purchase such indebtedness or obligation or any property constituting security therefor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
advance or supply funds (<U>i</U>) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital
or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds
for the purchase or payment of such indebtedness or obligation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or obligation
of the ability of any other Person to make payment of the indebtedness or obligation; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;otherwise
to assure the owner of such indebtedness or obligation against loss in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In any computation of the
indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of such
Guaranty shall be assumed to be direct obligations of such obligor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Hazardous Material&#8221;</B>
means any and all pollutants, toxic or hazardous wastes or any other substances that might pose a hazard to health or safety, the removal
of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation,
transfer, use, disposal, release, discharge, spillage, seepage, or filtration of which is or shall be restricted, prohibited or penalized
by any applicable law (including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum,
petroleum products, lead based paint, radon gas or similar restricted, prohibited or penalized substances).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Hedge Treasury Notes&#8221;</B>
means, with respect to any Accepted Note, the United States Treasury Note or Notes whose duration (as determined by Prudential) most closely
matches the duration of such Accepted Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;holder&#8221;</B>
means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant to
Section 15.1, <U>provided</U>, <U>however</U>, that if such Person is a nominee, then for the purposes of Sections 7, 12, 19.2 and 20
and any related definitions in this <U>Schedule A</U>, &#8220;holder&#8221; shall mean the beneficial owner of such Note whose name and
address appears in such register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Hostile Tender Offer</B>&#8221;
shall mean, with respect to the use of proceeds of any Note, any offer to purchase, or any purchase of, shares of capital stock of any
corporation or equity interests in any other entity, or securities convertible into or representing the beneficial ownership of, or rights
to acquire, any such shares or equity interests, if such shares, equity interests, securities or rights are of a class which is publicly
traded on any securities exchange or in any over-the-counter market, other than purchases of such shares, equity interests, securities
or rights representing less than 5% of the equity interests or beneficial ownership of such corporation or other entity for portfolio
investment purposes, and such offer or purchase has not been duly approved by the board of directors of such corporation or the equivalent
governing body of such other entity prior to the date on which the Company makes the Request for Purchase of such Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Indebtedness&#8221;</B>
with respect to any Person means, at any time, without duplication,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;its
liabilities for borrowed money;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;its
liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary course
of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect
to any such property);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities appearing on its balance sheet in accordance with U.S. GAAP in respect of Capital Leases;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed or
otherwise become liable for such liabilities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Contract Obligations of such Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities of such Person with respect to vendor-take-back financing arrangements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Guaranty of such Person with respect to liabilities of another Person of a type described in any of clauses (a) through (f) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indebtedness of any Person
shall include all obligations of such Person of the character described in clauses (a) through (g) to the extent such Person remains legally
liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under U.S. GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Indemnifiable Taxes&#8221;</B>
is defined in Section 13(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;INHAM Exemption&#8221;
</B>is defined in Section 6.2(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Institutional Accredited
Investor&#8221;</B> means an &#8220;accredited investor&#8221; within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Institutional Investor&#8221;</B>
means (a)&nbsp;any Purchaser of a Note, (b)&nbsp;any holder of a Note (together with one or more of its affiliates) holding more than
5% of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other
financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial
institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Interest Coverage
Ratio&#8221;</B> means the ratio of EBITDA for any four consecutive fiscal quarters of the Company to Net Interest Expense for such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Issuance
Period<FONT CLASS="DeltaViewInsertion">&#8221;</FONT></B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Kroll</B>&#8221;
means Kroll Bond Rating Agency, Inc., or if applicable, its successor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Lien&#8221;</B>
means with respect to the property or assets of any Person, a mortgage, pledge, hypothecation, encumbrance, lien (statutory or other),
charge or other security interest of any kind in or with respect to such property or assets (including, without limitation, any conditional
sale or other title retention agreement, and any financing lease under which such Person is lessee having substantially the same economic
effect as any of the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Make-Whole Amount&#8221;</B>
is defined in Section 8.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Material&#8221;</B>
means material in relation to the business, operations, affairs, financial condition, assets, properties or prospects of the Company and
its Subsidiaries taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Material Adverse
Effect&#8221;</B> means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties
of the Company and its Subsidiaries taken as a whole, or (b) the ability of the Company or any Guarantor to perform its obligations under
this Agreement, the Notes or any other Financing Document to which the Company is a party (in the case of the Company) or this Agreement,
the Guarantees or any other Financing Document to which the Guarantor is a party (in the case of any Guarantor), or (c) the validity or
enforceability of this Agreement, the Notes, the Guarantees or any other Financing Documents.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Material Credit
Facility&#8221; </B>means, as to the Company and its Subsidiaries,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Credit Agreement, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
2015 Note Purchase Agreement, the 2022 NYL Shelf Agreement and any other agreement(s) creating or evidencing any debt securities of the
Company or any Subsidiary that are privately placed, or in respect of which the Company or any Subsidiary is an obligor or otherwise provides
a guarantee or other credit support, in each case, in any amount available to be borrowed and/or outstanding under such debt securities;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other agreement(s) creating or evidencing indebtedness for borrowed money entered into by the Company or any Subsidiary, or in respect
of which the Company or any Subsidiary is an obligor or otherwise provides a guarantee or other credit support (&#8220;<B>Credit Facility</B>&#8221;),
in a principal amount outstanding or available for borrowing equal to or greater than U.S.$50,000,000 (or the equivalent of such amount
in the relevant currency of payment, determined as of the date of the closing of such facility based on the exchange rate of such other
currency); and if no Credit Facility or Credit Facilities equal or exceed such amounts, then the largest Credit Facility shall be deemed
to be a Material Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Material Subsidiary</B>&#8221;
means any Subsidiary of the Company that generates equal to or greater than 2% of EBITDA in any fiscal year of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Maturity Date&#8221;
</B>means with respect to any Note, the date specified as the &#8220;Final Maturity Date&#8221; in such Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Moody&#8217;s</B>&#8221;
means Moody&#8217;s Investors Service, Inc. or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Most Favored Provision</B>&#8221;
is defined in Section 9.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Multiemployer Plan&#8221;</B>
means any Plan that is a &#8220;multiemployer plan&#8221; (as such term is defined in section 4001(a)(3) of ERISA).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;NAIC&#8221; </B>means
the National Association of Insurance Commissioners or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;NAIC Annual Statement&#8221;</B>
is defined in Section&nbsp;6.2(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Net Interest Expense&#8221;
</B>means, with respect to any period, the total interest expense of the Company and its Subsidiaries as shown on the consolidated income
statement of the Company for such period determined in accordance with U.S. GAAP less the amount of interest income reflected on such
income statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Net Proceeds&#8221;</B>
means, with respect to any Disposition of any property by any Person, an amount equal to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
aggregate amount of the consideration (valued at the fair market value of such consideration at the time of the consummation of such Disposition)
received by such Person in respect of such Disposition: <I>minus</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all reasonable
out-of-pocket costs, fees commissions and other expenses incurred by such Person in connection with such Disposition and income taxes
paid or reasonably estimated to be payable in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>New York Business
Day</B>&#8221; means any day other than a Saturday, a Sunday or a day on which commercial banks in New York are required or authorized
to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>New York Life</B>&#8221;
means NYL Investors LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Normalizing Adjustments</B>&#8221;
is defined in the definition of &#8220;Total Debt/EBITDA Ratio&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Notes&#8221;</B>
is defined in Section 1.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;OFAC&#8221; </B>is
defined in Section 5.16(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;OFAC Listed Person&#8221;
</B>is defined in Section 5.16(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;OFAC Sanctions Program&#8221;
</B>means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may
be found at http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Officer&#8217;s
Certificate&#8221;</B> means a certificate of a Senior Financial Officer or of any other officer of the Company, or a Guarantor, as applicable,
whose responsibilities extend to the subject matter of such certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;PBGC&#8221;</B>
means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Permitted Intercompany
Loans&#8221;</B> means advances and accounts between one or more of the Company and any of its Subsidiaries, which shall be on commercially
reasonable terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Permitted Liens&#8221;</B>
is defined in Section 10.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Person&#8221;</B>
means an individual, partnership, corporation, limited liability company, unlimited liability company, association, trust, unincorporated
organization, business entity or Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Plan&#8221;</B>
means an &#8220;employee benefit plan&#8221; (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the
preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been
made or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have
any liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Priority Debt&#8221;</B>
means, at any time, the sum (without duplication) of (i) the aggregate unpaid principal amount of Indebtedness of the Company and each
Subsidiary secured by Liens (other than Liens permitted by Section 10.3(a) through (m) of this Agreement) <U>plus</U> (ii) without duplication,
the aggregate unpaid principal amount of Indebtedness of all Subsidiaries (other than Indebtedness permitted by subsections (a) through
(d) of Section 10.7).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Private Rating Letter</B>&#8221;
means a letter issued by an Acceptable Rating Agency in connection with any private debt rating for each Series of Notes issued pursuant
hereto, which (a) sets forth the Debt Rating for such Notes, (b) refers to the Private Placement Number issued by the PPN CUSIP Unit of
CUSIP Global Services in respect of such Notes, (c) addresses the likelihood of payment of both principal and interest on such Notes (which
requirement shall be deemed satisfied if either (x)&nbsp;such letter includes confirmation that the rating reflects the Acceptable Rating
Agency&#8217;s assessment of the Company&#8217;s ability to make timely payment of principal and interest on the Notes or a similar statement
or (y)&nbsp;such letter is silent as to the Acceptable Rating Agency&#8217;s assessment of the likelihood of payment of both principal
and interest and does not include any indication to the contrary), (d) includes such other information describing the relevant terms of
the Notes as may be required from time to time by the SVO or any other Governmental Authority having jurisdiction over any holder of any
Notes and (e) shall not be subject to confidentiality provisions or other restrictions which would prevent or limit the letter from being
shared with the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Private Rating Rationale
Report</B>&#8221; means, with respect to any Private Rating Letter, a report issued by the Acceptable Rating Agency in connection with
such Private Rating Letter setting forth an analytical review of the Notes issued pursuant to this Agreement explaining the transaction
structure, methodology relied upon, and, as appropriate, analysis of the credit, legal, and operational risks and mitigants supporting
the assigned Private Rating for such Notes, in each case, on the letterhead of the Acceptable Rating Agency or its controlled website
and generally consistent with the work product that an Acceptable Rating Agency would produce for a similar publicly rated security and
otherwise in form and substance generally required by the SVO or any other Governmental Authority having jurisdiction over any holder
of any Notes from time to time. Such report shall not be subject to confidentiality provisions or other restrictions which would prevent
or limit the report from being shared with the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;property&#8221;</B>
or <B>&#8220;properties&#8221;</B> means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible,
choate or inchoate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Proposed Prepayment
Date&#8221; </B>is defined in Section 8.4(b)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Prudential&#8221;
</B><FONT CLASS="DeltaViewInsertion" STYLE="font-weight: normal">is defined in the addressee line to this Agreement.</FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT CLASS="DeltaViewInsertion" STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Prudential
Affiliate&#8221;</B> <FONT STYLE="font-weight: normal">means (i) any corporation or other entity controlling, controlled by, or under
common control with, Prudential and (ii) any managed account or investment fund which is managed by Prudential or a Prudential Affiliate
described in clause (i) of this definition. For purposes of this definition, the terms &#8220;control&#8221;, &#8220;controlling&#8221;
and &#8220;controlled&#8221; shall mean the ownership, directly or through subsidiaries, of a majority of a corporation&#8217;s or other
entity&#8217;s Voting Stock or equivalent securities or interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;PTE&#8221; </B>is
defined in Section 6.2(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Purchaser Non-Performance</B>&#8221;
means, with respect to any proposed Closing, the failure of a Purchaser to pay the applicable purchase price for the Notes to be purchased
by such Purchaser on the Closing Date for such Closing following the Company&#8217;s satisfaction of all conditions precedent specified
in Section 4.2 of this Agreement in connection with such Closing on or prior to the Closing Date for such Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Purchasers&#8221;
</B><FONT CLASS="DeltaViewInsertion" STYLE="font-weight: normal">is defined in the addressee line to this Agreement</FONT><B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;QPAM Exemption&#8221;</B>
is defined in Section 6.2(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Qualified Institutional
Buyer&#8221;</B> means any Person who is a &#8220;qualified institutional buyer&#8221; within the meaning of such term as set forth in
Rule 144A(a)(1) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Quotation&#8221;
</B><FONT STYLE="font-weight: normal">is defined in Section 2.2(d).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Ratable Portion
of the Net Proceeds&#8221;</B> means, in respect of any Note and an offered prepayment thereof in connection with a Disposition, as contemplated
by Section 8.4(a)(ii), an amount equal to the product of (i) the Net Proceeds attributable to such Disposition <I>multiplied </I>by (ii)
a fraction, the numerator of which is the outstanding principal amount of such Note and the denominator of which is the aggregate principal
amount of all Indebtedness of the Company and its Subsidiaries, determined on a consolidated basis, ranking <I>pari passu</I> with such
Note (including, without limitation, Indebtedness evidenced by the other Notes and Indebtedness of the Company and its Subsidiaries under,
or in respect of, the Credit Agreement, the 2015 Note Purchase Agreement and the 2022 NYL Shelf Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Related Fund&#8221;
</B>means, with respect to any holder of any Note, any fund or entity that (i) invests in securities or bank loans, and (ii) is advised
or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Reliable Jurisdiction</B>&#8221;
means a country (a) with a reliable security and enforcement regime, and (b) where the burden or cost of obtaining guarantees, equity
pledge agreements or possession of equity interests does not outweigh the benefits afforded thereby, as reasonably determined by the Required
Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Request
for Purchase&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 2.2(c).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Required Holders&#8221;</B>
means at any time, on or after the date of this Agreement, the holders of a majority in principal amount of the Notes at the time outstanding
(exclusive of Notes then owned by the Company or any of its Affiliates), and if at any relevant time, there are no Notes outstanding,
then Prudential shall constitute the Required Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Rescheduled
Closing Date&#8221;</B> <FONT STYLE="font-weight: normal">is defined in Section 3.3.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Responsible Officer&#8221;</B>
means any Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>S&amp;P</B>&#8221;
means S&amp;P Global Ratings, a division of S&amp;P Global, a New York corporation, or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>SEC</B>&#8221; means
the United States Securities and Exchange Commission or any Governmental Authority succeeding to any or all of the functions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Secondary Disposition
Prepayment Offer</B>&#8221; is defined in Section 8.4(a)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Securities Act&#8221;</B>
means the U.S. Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder from time to
time in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Senior Financial
Officer&#8221;</B> means the Chief Financial Officer of the Company, or any other person holding an equivalent position from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT CLASS="DeltaViewInsertion"><B>&#8220;</B></FONT><B>Series&#8221;
</B><FONT STYLE="font-weight: normal">is defined in Section 1.2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Shareholders Agreements</B>&#8221;
means all agreements that create in favor of the Company or any Subsidiary call option rights with respect to any non-controlling interest
in any Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Source&#8221;</B>
is defined in Section 6.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Structuring Fee&#8221;</B>
is defined in Section 2.2(g)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Subsidiary&#8221;</B>
means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or such first Person and one or
more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies,
to elect a majority of the directors (or Persons performing similar functions) of such second Person, and any partnership or joint venture
if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such
first Person and one or more of its Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business
actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires,
any reference to a &#8220;Subsidiary&#8221; is a reference to a Subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;SVO&#8221;</B> means
the Securities Valuation Office of the NAIC (or any successor organization acceding to the authority thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Tax&#8221;</B> or
<B>&#8220;Taxes&#8221;</B> means all taxes (whether income, documentary, sales, stamp, registration, issue, capital, property, excise
or otherwise), duties, fees, premiums, assessments, imposts, levies, rates, withholdings, dues, government contributions and any other
charges of any kind whatsoever, whether direct or indirect, together with all interest, penalties, fines, additions to tax or other additional
amounts imposed by any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Tax Event&#8221;</B>
means any amendment to, or change in, after the date of this Agreement, the laws, regulations or published tax rulings (including tax
treaties and regulations with respect to such treaties) of any Applicable Taxing Authority, or any amendment to or change after the date
of this Agreement in the official administration, interpretation or application of such laws, regulations, or rulings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Total Debt&#8221;</B>
at any time means all Indebtedness of the Company and its Subsidiaries at such time determined on a consolidated basis in accordance with
U.S. GAAP after deduction of cash-on-hand or on deposit with any bank or financial institution located in Canada or the United States
of America and not subject to any Lien (other than customary bankers&#8217; Liens) or other restriction, plus the Cash Amount at such
time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Total Debt/EBITDA
Ratio&#8221;</B> at any time means the ratio of (x) Total Debt as at the end of the fiscal quarter most recently ended to (y) EBITDA for
the period of the four consecutive fiscal quarters of the Company most recently ended, so as to include all Persons which became Subsidiaries
during the relevant period, with EBITDA from the acquisition of such Persons to be included in the calculations by using the trailing
12 month EBITDA for such Persons, and so as to exclude the EBITDA of any former Subsidiary that ceased being a Subsidiary at any time
during the previous four fiscal quarters. In addition, for purposes of this definition, EBITDA shall include a full year impact of the
cost savings in respect of any Subsidiary which has become a Subsidiary during the period, if such savings are readily identifiable and
can be immediately implemented (such as the elimination of salaries for redundant employees and elimination of various administrative
functions which will, in the reasonable opinion of the Company, become unnecessary or otherwise performed more cost-effectively) (such
cost savings being collectively referred to as &#8220;<B>Normalizing Adjustments</B>&#8221;); <U>provided</U> that such adjustments shall
only be made if (i) the Company has provided to each holder of Notes that is an Institutional Investor the details of such Normalizing
Adjustments following the completion of the acquisition or formation of such Subsidiary, and (ii) the Required Holders have not provided
written notice to the Company within 15 Business Days of the receipt by each holder of Notes that is an Institutional Investor of such
details that the Required Holders do not consent to the Normalizing Adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>Unrestricted Entities</B>&#8221;
means Eligible Businesses in which the Company or any Subsidiary has invested (whether or not such entity is controlled by the Company
or any Subsidiary) having an aggregate initial investment value to the Company and the Subsidiaries (determined at the time of each such
investment, including at the time of any subsequent investments in any particular entity in which the Company or any Subsidiary already
has an interest) not exceeding U.S.$75,000,000. <U>Schedule B</U> lists the Unrestricted Entities as of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B>USA PATRIOT Act</B>&#8221;
means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time
to time in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;U.S. Dollar&#8221;</B>
or <B>&#8220;U.S.$&#8221;</B> means lawful money of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;U.S. Economic Sanctions&#8221;
</B>is defined in Section 5.16(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;U.S. GAAP&#8221;</B>
means generally accepted accounting principles as in effect from time to time in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;U.S. Guarantor&#8221;</B>
means each Guarantor organized under the laws of the United States of America or any state thereof (including the District of Columbia).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Voting Stock&#8221;
</B>means, with respect to any Person, capital stock of any class or classes of a corporation, an association or another business entity
the holders of which are ordinarily, in the absence of contingencies, entitled to vote in the election of corporate directors (or individuals
performing similar functions) of such Person or which permit the holders thereof to control the management of such Person, including general
partnership interests in a partnership and membership interests in a limited liability company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&#8220;Wholly-Owned Subsidiary&#8221;</B>
means, at any time, any Subsidiary one hundred percent (100%) of all of the equity interests (except directors&#8217; qualifying shares)
and voting interests of which are owned by any one or more of the Company and the Company&#8217;s other Wholly-Owned Subsidiaries at such
time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>UNRESTRICTED ENTITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>INFORMATION SCHEDULE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>General Notice Information
for Prudential</U>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Redacted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>DISCLOSURE MATERIALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 94; Options: NewSection; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SUBSIDIARIES AND OWNERSHIP
OF SUBSIDIARY STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Redacted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(b)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>COMPANY ORGANIZATIONAL CHART</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Redacted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>DIRECTORS AND SENIOR OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>DIRECTORS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Jay S. Hennick</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">D. Scott Patterson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Yousry Bissada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Elizabeth Carducci</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Bernard I. Ghert</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Steve Grimshaw</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Frederick F. Reichheld</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Joan Sproul</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Erin J. Wallace</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>OFFICERS/TITLES:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">D. Scott Patterson - President
and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Jeremy Rakusin - Chief Financial
Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Douglas G. Cooke - Senior Vice
President, Corporate Secretary, Corporate Controller and Treasurer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Alex Nguyen - Senior Vice President
Strategy &amp; Corporate Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Steve Carpenter - Senior Vice
President, Technology and Information Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Roger M. Thompson - Vice President,
Strategy and Sustainability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Abel Juarez - Vice President,
Compliance and Risk Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Patrick Tran - Vice President,
Tax</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Ryan Bedrich - Vice President,
Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Brian McDonough - Vice President,
Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Andrew Hui - Vice President,
Financial Systems</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Angela Bai - Vice President,
Strategy &amp; Corporate Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Jennifer Kennedy - Director,
Marketing and Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Bailey MacDonald - Director,
Strategy and Corporate Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Amanda McCallen - Director,
Tax</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(d)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>RESTRICTIVE AGREEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Annual Report [Form 40-F of the Company for fiscal year ended December 31, 2021 filed with the SEC]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Interim Financial Statements of the Company dated as of June 30, 2022, filed with the SEC</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Management Information Circular of the Company dated February 25, 2022, filed with the SEC</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>CERTAIN LITIGATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 100; Options: NewSection; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>LICENSES, PERMITS, ETC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 101; Options: NewSection; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.15</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>EXISTING INDEBTEDNESS / LIENS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>List of outstanding indebtedness
of FirstService Corporation and its subsidiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>as at July 31, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><I>(U.S. dollars)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; border-top: Black 1.5pt double; border-bottom: Black 1.5pt double; border-left: Black 1.5pt double; border-right: Black 1pt solid; text-align: justify; text-indent: 0in"><B>Description</B></TD>
    <TD STYLE="width: 26%; border-top: Black 1.5pt double; border-right: Black 1.5pt double; border-bottom: Black 1.5pt double; text-align: right; text-indent: 0in"><B>Amount</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">3.84% notes due January 16, 2025 (current)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">30,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">3.84% notes due January 16, 2025 (long-term)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">60,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">TD bank syndicate credit facility draw (FirstService Corporation)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">437,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">TD bank syndicate credit facility draw (FirstService (USA) Inc.)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">120,500,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">Other external debt (current)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">454,664</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">External capital leases (current)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">5,175,434</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">External capital leases (long-term)</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">8,034,170</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1.5pt double; border-bottom: Black 1.5pt double; text-align: right; text-indent: 0in"><B>Total:</B></TD>
    <TD STYLE="border-right: Black 1.5pt double; border-bottom: Black 1.5pt double; text-align: right; text-indent: 0in"><B>661,164,268</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">See attached Schedule 5.15-1
for Permitted Liens</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 102; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Schedule 5.15-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE 5.15-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>PERMITTED LIENS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 103; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Schedule 5.15-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>[FORM OF NOTE]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>SERIES
____ GUARANTEED SENIOR NOTE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">NO. <B>____</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">CURRENCY: [U.S. Dollars]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">ORIGINAL PRINCIPAL AMOUNT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">ORIGINAL ISSUE DATE:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">INTEREST RATE:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">INTEREST PAYMENT DATES:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">FINAL MATURITY DATE:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">PRINCIPAL PREPAYMENT DATES AND
AMOUNTS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>FOR VALUE RECEIVED</B>,
the undersigned, <B>FIRSTSERVICE CORPORATION</B>, a company incorporated under the laws of Ontario, Canada (herein called the &#8220;<B>Company</B>&#8221;),
hereby promises to pay to ___________________________, or registered assigns, the principal sum of ____________________ United States
Dollars (U.S.$[________]) [on the final maturity date specified above (or so much thereof as shall not have been prepaid)] [, payable
on the principal prepayment dates and in the amounts specified above, and on the final maturity date specified above in an amount equal
to the unpaid balance of the principal hereof,] with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on
the unpaid balance thereof at the interest rate per annum specified above, payable on each interest payment date specified above and on
the final maturity date specified above, commencing with the interest payment date next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) on any overdue payment of interest and any overdue payment of any Make-Whole Amount
(as defined in the Note Purchase Agreement referred to below) and, without duplication of clause (a) hereof, during the continuance of
an Event of Default, on such unpaid principal balance, payable on each interest payment date as aforesaid (or, at the option of the registered
holder hereof, on demand), at a rate per annum from time to time equal to the greater of (i) two percent (2%) over the interest rate specified
above or (ii) two percent (2%) over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. from time to time in New York,
New York as its &#8220;base&#8221; or &#8220;prime&#8221; rate with respect to U.S. Dollars. For purposes of any legislation respecting
statement of interest rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent to the
rate specified in the Notes as being &#8220;computed on the basis of a 360-day year of twelve 30-day months&#8221; (the &#8220;<B>360-Day
Rate</B>&#8221;) is the 360-Day Rate multiplied by the actual number of days in the year divided by 360; and the use of the term &#8220;360-day
year of twelve 30-day months&#8221; is for matters of calculation of the [quarterly]/[semi-annual] interest payments and does not alter
the yearly rate described above. The foregoing sentence is for disclosure purposes only and shall not otherwise affect the terms of this
Note as set forth herein. To the extent the Interest Act (Canada) is deemed applicable to this Note, all interest which accrues under
this Note shall be calculated using the nominal rate method and not the effective rate method and the deemed reinvestment principle shall
not apply to such calculations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 104; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Payments of principal of,
interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the
principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written
notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Note is one of a Series
of Guaranteed Senior Notes (herein called the &#8220;<B>Notes</B>&#8221;) issued pursuant to the Note Purchase and Private Shelf Agreement,
dated as of September 29, 2022 (as from time to time amended, the &#8220;<B>Note Purchase Agreement</B>&#8221;), among the Company, PGIM,
Inc., each Prudential Affiliate which becomes a party thereto and the respective Purchasers named therein and is entitled to the benefits
thereof. Unless otherwise indicated, capitalized terms used herein and not defined herein have the respective meanings ascribed to such
terms in the Note Purchase Agreement. Each holder of this Note will be deemed, by its acceptance hereof, to have agreed to the confidentiality
provisions set forth in Section 22 of the Note Purchase Agreement and to have made the representation set forth in Section 6.2 of the
Note Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Note is a registered
Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied
by a written instrument of transfer duly executed, by the registered holder hereof or such holder&#8217;s attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment
for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose
of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[The Company will make required
prepayments of principal on the dates and in the amounts specified above in this Note and in the Note Purchase Agreement.] [This Note
is [also] subject to [optional] prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note
Purchase Agreement, but not otherwise.] [This Note is not subject to prepayment.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If an Event of Default occurs
and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including
any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS NOTE SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE COMPANY AND THE HOLDER OF THIS NOTE SHALL BE GOVERNED BY, THE LAW OF THE STATE
OF NEW YORK, EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION
OTHER THAN SUCH STATE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 105; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; vertical-align: middle; text-align: justify">FIRSTSERVICE CORPORATION</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: justify; width: 10%">By</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Name:</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Jeremy Rakusin</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Title:</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Chief Financial Officer</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 106; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM OF REQUEST FOR PURCHASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to the Note
Purchase and Private Shelf Agreement (as amended, restated or otherwise modified from time to time, the &#8220;<B>Note Purchase Agreement</B>&#8221;),
dated as of September 29, 2022, by and among FirstService Corporation, a company incorporated under the laws of Ontario (together with
its successors and assigns, the &#8220;<B>Company</B>&#8221;), PGIM, Inc. and each Prudential Affiliate (as defined therein) which becomes
a party thereto. Capitalized terms used and not otherwise defined herein shall have the respective meanings specified in the Note Purchase
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to Section 2.2(c) of the Note Purchase
Agreement, the Company hereby makes the following Request for Purchase:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: left; width: 0.5in; vertical-align: top">1.</TD>
    <TD STYLE="vertical-align: top; width: 5in; text-align: justify">Aggregate principal amount of the Notes covered hereby (the &#8220;<B>Notes</B>&#8221;)</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">_____________________________</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; text-indent: -0.5in; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top">2.</TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Individual specifications of the Notes:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; text-align: center">Principal<BR>
<U>Amount</U></TD>
    <TD STYLE="width: 20%; text-align: center">Final<BR>
Maturity<BR>
<U>Date</U></TD>
    <TD STYLE="width: 20%; text-align: center">Principal<BR>
Prepayment<BR>
Dates and<BR>
<U>Amount</U></TD>
    <TD STYLE="width: 20%; text-align: center">Interest<BR>
Payment<BR>
<U>Period</U></TD>
    <TD STYLE="width: 20%; text-align: center">Reinvestment<BR>
<U>Yield</U></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Use of proceeds of the Notes:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Proposed day for the closing of the purchase and sale of the Notes:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The purchase price of the Notes is to be transferred to:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: left">Name, Address<BR>
and ABA Routing<BR>
<U>Number of Bank</U></TD>
    <TD STYLE="width: 50%; text-align: left">Number of<BR>
<U>Account</U></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 107; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">The Company certifies that (a) [except for changes to such representations and warranties or the Schedules
referred to therein as set forth on Exhibit A hereto,] the representations and warranties contained in Section 5 of the Note Purchase
Agreement are true on and as of the date of this Request for Purchase, (b) there exists on the date of this Request for Purchase no Event
of Default or Default (both before and after giving effect to the issuance and purchase of the Notes contemplated hereby) and (c) the
use of the proceeds of such Notes shall not be used to finance a Hostile Tender Offer, unless prior written consent of the Required Holders
is obtained.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: _____________________ ____, _________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">FIRSTSERVICE CORPORATION</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; font-size: 10pt; vertical-align: middle; text-align: left">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: left">Authorized Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 108; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>EXHIBIT C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM OF CONFIRMATION OF ACCEPTANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to the Note
Purchase and Private Shelf Agreement (the &#8220;<B>Note Purchase Agreement</B>&#8221;), September 29, 2022, by and among FirstService
Corporation, a company incorporated under the laws of Ontario (together with its successors and assigns, the &#8220;<B>Company</B>&#8221;),
PGIM, Inc. and each Prudential Affiliate (as defined therein) which becomes party thereto. All terms used herein that are defined, in
the Note Purchase Agreement have the respective meanings specified in the Note Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Person which is named
below as a Purchaser of Notes hereby confirms the representations as to such Notes set forth in Section 5 of the Note Purchase Agreement
and agrees to be bound by the provisions of the Note Purchase Agreement which are expressly applicable to a Purchaser or a holder of Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to Section 2.2(e) of the Note Purchase
Agreement, an Acceptance with respect to the following Accepted Notes is hereby confirmed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">I.</TD><TD STYLE="text-align: justify"><U>Accepted Notes</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify; width: 3in">Requested Available Currency:</TD>
    <TD>[U.S. Dollars]</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: right"></TD><TD>2.</TD><TD STYLE="text-align: justify">Aggregate principal amount:</TD>
    <TD>___________________</TD></TR>
     </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Purchaser Information</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 0.5in">(A)</TD>
    <TD STYLE="text-align: left; width: 0.5in">(a)</TD>
    <TD STYLE="text-align: left">Name of Purchaser:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(b)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Principal amount:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(c)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Final maturity date:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(d)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Principal prepayment dates and amounts:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(e)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Interest rate (fixed rate only):</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(f)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Interest payment period:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(g)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Payment and notice instructions: As set forth on attached Purchaser Schedule</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">(B)</TD>
    <TD STYLE="text-align: left">(a)</TD>
    <TD STYLE="text-align: left">Name of Purchaser:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(b)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Principal amount:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(c)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Final maturity date:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(d)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Principal prepayment dates and amounts:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(e)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Interest rate (fixed rate only):</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">(f)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Interest payment period:</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 109; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; width: 0.5in">(g)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Payment and notice instructions: As set forth on attached Purchaser Schedule</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">[(C), (D)</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">same information as above.]</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">II.</TD><TD STYLE="text-align: justify">Closing Date: ___________________</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">FIRSTSERVICE CORPORATION</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%; font-size: 10pt; vertical-align: middle; text-align: left">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: left">Authorized Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">PGIM, INC.</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; width: 10%">By:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 40%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">[PRUDENTIAL AFFILIATE]</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">By:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>[Purchaser Schedule to be
attached]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 110; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>EXHIBIT D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM OF GUARANTEE</B></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 111 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">Exhibit D</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.1pt"><B>FORM OF U.S. GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>THIS U.S. GUARANTEE </B>(as the same may hereafter be
amended, supplemented or otherwise modified, this &ldquo;<B>Note Guarantee</B>&rdquo;) is entered into as of [ &#9679; ], by and among
each of the entities named on the execution pages hereof and each of the entities which becomes a party hereto pursuant to the terms of
Section 6.14 hereof (each a &ldquo;<B>Guarantor</B>&rdquo;, and collectively, the &ldquo;<B>Guarantors</B>&rdquo;), in favor of the holders
from time to time of the Notes (as defined below) (each a &ldquo;<B>Noteholder</B>&rdquo;, and collectively, the &ldquo;<B>Noteholders</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>WHEREAS </B>FirstService Corporation, a company incorporated
under the laws of Ontario, Canada (the &ldquo;<B>Company</B>&rdquo;) has entered into that certain Note Purchase and Private Shelf Agreement,
dated September 29, 2022 (as may be amended, restated, supplemented or otherwise modified and in effect from time to time, the &ldquo;<B>Note
Purchase Agreement</B>&rdquo;), by and among the Company, PGIM, Inc., each of the Series [&#9679;] Purchasers (as defined below) and each
other purchaser of Notes which becomes a party thereto from time to time in accordance with the terms thereof, pursuant to which (a) the
Company has agreed to issue and sell to certain purchasers listed on the Purchaser Schedule attached to the Confirmation of Acceptance
dated as of [&#9679;] (the &ldquo;<B>Series [ ] Purchasers</B>&rdquo;) U.S.$ [&#9679;] in aggregate principal amount of its [&#9679;]%
Series [&#9679;] Guaranteed Senior Notes Due [&#9679;] (together with any notes issued in substitution, replacement or exchange therefor
pursuant to the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise modified from time to time,
the &ldquo;<B>Initial Notes</B>&rdquo;), and (b) the Company has authorized the issuance from time to time of additional senior unsecured
notes upon the terms and subject to the conditions set forth in the Note Purchase Agreement (together with any notes issued in substitution,
replacement or exchange therefor pursuant to the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise
modified from time to time, the &ldquo;<B>Shelf Notes</B>&rdquo;, and together with the Initial Notes, collectively, the &ldquo;<B>Notes</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt"><B>WHEREAS </B>as a condition to purchasing the Notes under
the Note Purchase Agreement, the holders of the Notes require, among other things, that each Guarantor guarantee the Guaranteed Obligations;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>WHEREAS</B> each Guarantor has agreed to guarantee the Guaranteed
Obligations; and</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>WHEREAS </B>each Guarantor is a direct or indirect Subsidiary
of the Company and will derive substantial direct and indirect benefits from the purchase of the Notes by the Purchasers. The Company
and the Guarantors are members of a group of related companies, the success of any one of which is dependent in part on the success of
the other members of such group.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt"><B>NOW THEREFORE </B>in consideration of the foregoing,
and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), each Guarantor hereby agrees
as follows:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 1 - DEFINITIONS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>1.1</B></TD><TD><B>Definitions</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 48pt">&nbsp;</P>

<P STYLE="margin: 0pt 14pt 0pt 48pt; font-size: 10pt; text-align: justify">For the purposes of this Note Guarantee, all capitalized terms
used herein and not defined herein shall have the respective meanings given them in the Note Purchase Agreement. The following terms shall
have the following meanings:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">&ldquo;<B>Allocable Amount</B>&rdquo; shall mean, as of any date of determination,
with respect to any Guarantor, that amount which is equal to the excess of the fair saleable value of the property of such Guarantor over
the total liabilities of such Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities,
calculated, without duplication, assuming each other Guarantor that is also liable for such contingent liability pays its ratable share
thereof), giving effect to all payments made by other Guarantors as of such date in a manner to maximize the amount of such contributions.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">&ldquo;<B>Debtor Relief Law</B>&rdquo; means Title 11 of the United States Code,
Bankruptcy and Insolvency Act (Canada), Companies&rsquo; Creditors Arrangement Act (Canada), as such legislation may be amended from time
to time, or any similar federal, provincial or state law for the relief of debtors generally and all other liquidation, bankruptcy, assignment
for the general benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization or similar
debtor relief laws of the United States of America, Canada, or any other applicable jurisdictions in effect from time to time.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.85pt">&ldquo;<B>Financing Documents</B>&rdquo; means this Note Guarantee, the Note Purchase
Agreement, the Notes and each other document executed by a Guarantor in connection with any of the foregoing.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD>&ldquo;<B>Guaranteed Obligations</B>&rdquo; shall have the meaning set out in Section 2.1 hereof.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD>&ldquo;<B>Guarantor Payment</B>&rdquo; shall have the meaning set out in Section 2.9 hereof.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">&ldquo;<B>Obligated Party</B>&rdquo; means the Company, any Guarantor, any other
guarantor of, or any other Person obligated for, all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt"><B>SECTION 2 THE GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.1</B></TD><TD><B>The Guarantee</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Each Guarantor jointly and severally hereby, as a primary obligor and not merely
as surety, absolutely, unconditionally and irrevocably guarantees to the Noteholders, the prompt payment in full when due (whether at
stated maturity, upon acceleration, by optional prepayment or otherwise), of (i) the principal of, the Make-Whole Amount, if any, and
interest on (including, without limitation, interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding),
and any other amounts due under, the Notes when and as the same shall become due and payable and (ii) any other sums which may become
due under the terms and provisions of the Notes, the Note Purchase Agreement or any other instrument referred to therein, including, without limitation,
all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated costs of in-house counsel and paralegals) (collectively,
the &ldquo;<B>Guaranteed Obligations</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">Each Guarantor further agrees that the Guaranteed Obligations may be increased,
extended, renewed or otherwise modified in whole or in part without notice to or further assent from it, and that it remains bound upon
its guarantee notwithstanding any such increase, extension, renewal or modification.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.95pt">All terms of this Note Guarantee apply to and may be enforced by or on behalf
of any Affiliate of any Noteholder that extended any portion of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">Without limiting the generality of the foregoing, each Guarantor&rsquo;s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and which would be owed by the Company or any
other Guarantor to any Noteholder under or in respect of the Note Purchase Agreement, the Notes or any of the other Financing Documents
but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding
involving the Company or such other Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.2</B></TD><TD><B>Indemnity</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">If any or all of the Guaranteed Obligations are not paid
or performed by the Company and are not paid or performed by a Guarantor under Section 2.1 for any reason whatsoever, each Guarantor will,
as a separate and distinct obligation, indemnify and hold harmless each of the Noteholders from and against all losses, costs and expenses
suffered or incurred by each such Noteholder arising from, or in connection with, or as a result of (a) any of the provisions of the Note
Purchase Agreement, the Notes or any of the Financing Documents being or becoming void, voidable, unenforceable or invalid, or, (b) the
failure of the Company to fully and promptly pay any of the Guaranteed Obligations.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.3</B></TD><TD><B>Primary Obligation</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">If (i) any or all of the Guaranteed Obligations are not paid or performed by the
Company or by a Guarantor under Section 2.1, respectively, or (ii) the Noteholders are not indemnified under Section 2.2, in each case,
for any reason whatsoever, such Guaranteed Obligations will, as a separate and distinct obligation, be paid or performed by each Guarantor
as primary obligor immediately upon written demand to such Guarantor by any Noteholder for such payment or performance.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">This Note Guarantee is an absolute, unconditional and continuing guarantee of payment
and performance and not of collection. Each Guarantor waives any right to require any Noteholder to sue any other Obligated Party, or
otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Each Guarantor hereby agrees that (i) it is directly, jointly and severally with
any other Obligated Party, liable to the Noteholders, (ii) the Guaranteed Obligations of each Guarantor hereunder are independent of the
obligations of any other Obligated Party, and (iii) a separate action may be brought against each Guarantor, whether such action is brought
against any other Obligated Party or whether any other Obligated Party is joined in such action. Each Guarantor hereby agrees that its
liability hereunder shall be immediate and shall not be contingent upon the exercise or enforcement by any Noteholder of whatever remedies
it may have against any Obligated Party. Each Guarantor hereby agrees that any release which may be given by the Noteholders to any Obligated
Party, or with respect to any property or asset subject to a Lien, shall not release it from its obligations hereunder. Each Guarantor
consents and agrees that the Noteholders shall not be under any obligation to marshal any property or assets of any Obligated Party in
favor of it, or against or in payment of any or all of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.4</B></TD><TD><B>No Discharge or Diminishment of Guarantee.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">Except as otherwise provided for herein, the obligations of each Guarantor hereunder
are unconditional, absolute and irrevocable and not subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Guaranteed Obligations and termination of the Note Purchase Agreement), including:
(i) any claim of waiver, release, extension, renewal, settlement, surrender, alteration or compromise of any of the Guaranteed Obligations,
by operation of law or otherwise; (ii) any change in the existence, structure or ownership of any Obligated Party; (iii) any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Obligated Party or its assets or any resulting release or discharge
of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Guarantor may have at any
time against any Obligated Party, any Noteholder or any other Person, whether in connection herewith or in any unrelated transactions.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">The obligations of each Guarantor hereunder are not subject to any defence or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed
Obligations, the Note Purchase Agreement, the Notes, this Note Guarantee or otherwise, or any provision of applicable law or regulation
purporting to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">The Guaranteed Obligations of any Guarantor hereunder shall not be discharged
or impaired or otherwise affected by: (i) the failure of any Noteholder to assert any claim or demand or to exercise or enforce any right
or remedy with respect to all or any part of the Guaranteed Obligations; (ii) any change in the time, place or manner of payment of, or
in any other term of, the Guaranteed Obligations or any other obligation of any Obligated Party under any agreement relating to the Guaranteed
Obligations, or any rescission, waiver, amendment or other modification of the Note Purchase Agreement, the Notes,
any Financing Document or any other agreement relating to the Guaranteed Obligations; (iii) any taking, release, impairment, amendment,
waiver or other modification of any guarantee, for the Guaranteed Obligations; (iv) creating new or additional Guaranteed Obligations
after prior Guaranteed Obligations have been satisfied in whole or in part; (v) any failure of the Noteholders to disclose to any Guarantor
any information relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any
other Guarantor now or hereafter known to such Noteholder; (vi) any taking, exchange, substitution, release, impairment or non-perfection
of any collateral (if any) or any proceeds thereof; (vii) each Guarantor waiving any duty of the Noteholders to disclose such information;
or (viii) any default, failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or
any other circumstance, act, omission or delay that might in any manner or to any extent vary the risk of such Guarantor or that would
otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of
the Guaranteed Obligations).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.6pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any right to revoke this Note Guarantee as to future Guaranteed Obligations. If such a revocation is effective notwithstanding the foregoing
waiver, each Guarantor acknowledges and agrees that (i) no such revocation shall be effective until written notice thereof has been received
by the Noteholders, (ii) no such revocation shall apply to any Guaranteed Obligations in existence on the date of receipt by the Noteholders
of such written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment
terms, or other terms and conditions thereof), (iii) no such revocation shall apply to any Guaranteed Obligations made or created after
such date to the extent made or created pursuant to a legally binding commitment of the Noteholders on the date of such revocation, (iv)
no payment by any Guarantor, the Company, or from any other source, prior to the date of the Noteholders&rsquo; receipt of written notice
of such revocation, shall reduce the maximum obligation of any Guarantor hereunder, and (v) any payment by the Company or from any source
other than the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guaranteed Obligations
as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce
the maximum obligation of any Guarantor hereunder.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 13.95pt">Each default in the payment or performance of any of the Guaranteed Obligations
shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the case may
be, hereunder as each such default occurs.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.5</B></TD><TD><B>Defences Waived</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any defence based on or arising out of any defence of any other Obligated Party or the unenforceability of all or any part of the Guaranteed
Obligations from any cause, or the cessation from any cause of the liability of any other Obligated Party, other than the indefeasible
payment in full in cash of the Guaranteed Obligations and the termination of the Facility. Without limiting the generality of the foregoing,
each Guarantor irrevocably waives notice of acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by applicable
law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated
Party or any other Person. Each Guarantor confirms that it is not a surety under any state or provincial law and shall not raise any such
law as a defence to its obligations hereunder. The Noteholders may, at their election, adjust any part of the Guaranteed Obligations,
make any other accommodation with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party,
without affecting or impairing in any way the liability of such Guarantor under this Note Guarantee except to the extent the Guaranteed
Obligations have been fully and indefeasibly paid in cash and the Facility has terminated. To the fullest extent permitted by applicable
law, each Guarantor waives any defence arising out of any such election even though that election may operate, pursuant to applicable
law, to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Obligated
Party.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">To the fullest extent permitted by applicable law, each Guarantor hereby waives:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 84pt">(i) notice of any financial accommodations made under the
Note Purchase Agreement, or the creation or existence of any Guaranteed Obligations; (ii) notice of the amount of the Guaranteed Obligations,
subject, however, to such Guarantor&rsquo;s right to make inquiry of the Noteholders to ascertain the amount of the Guaranteed Obligations
at any reasonable time; (iii) notice of any adverse change in the financial condition of the Company or of any other fact that might increase
such Guarantor&rsquo;s risk hereunder; (iv) presentment for payment, demand, protest, and notice thereof under the Note Purchase Agreement,
the Notes or any other Financing Documents; (v) notice of any Event of Default under any of the Financing Documents; and (vi) all other
notices (except if such notice is specifically required to be given to such Guarantor under this Note Guarantee) and demands to which
such Guarantor might otherwise be entitled.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.6</B></TD><TD><B>Reinstatement; Stay of Acceleration</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">If at any time any payment of any portion of the Guaranteed
Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned
upon the insolvency, bankruptcy or reorganization of the Company, any Guarantor or otherwise (including pursuant to any settlement entered
into by the Noteholders in their discretion), each Guarantor&rsquo;s obligations under this Note Guarantee with respect to that payment
shall be reinstated at such time as though the payment had not been made and whether or not the Noteholders are in possession of this
Note Guarantee. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy
or reorganization of the Company or any Guarantor, all such amounts otherwise subject to acceleration under the</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.6pt 0pt 12pt">terms of any agreement relating to the Guaranteed Obligations
shall nonetheless be payable by the Guarantors forthwith on demand by the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.7</B></TD><TD><B>Information</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">Each Guarantor assumes all responsibility for being and
keeping itself informed of the Company&rsquo;s financial condition and assets, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Guarantor assumes and incurs under this
Note Guarantee, and agrees that none of the Noteholders shall have any duty to advise any Guarantor of information known to it regarding
those circumstances or risks.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.8</B></TD><TD><B>Maximum Liability</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">Notwithstanding any other provision of this Note Guarantee,
the amount guaranteed by each Guarantor domiciled or resident in the U.S. hereunder shall be limited to the extent, if any, required so
that its obligations hereunder shall not be subject to avoidance under Section 548 of the U.S. Bankruptcy Code or under any applicable
state <I>Uniform Fraudulent Transfer Act</I>, <I>Uniform Fraudulent Conveyance Act </I>or similar statute or common law. In determining
the limitations, if any, on the amount of any Guarantor&rsquo;s obligations hereunder pursuant to the preceding sentence, it is the intention
of the parties hereto that any rights of subrogation, indemnification or contribution which such Guarantor may have under this Note Guarantee,
any other agreement or applicable law shall be taken into account.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.9</B></TD><TD><B>Contribution</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">To the extent that any Guarantor shall make a payment under this Guarantee (a &ldquo;<B>Guarantor
Payment</B>&rdquo;) which, taking into account all other Guarantor Payments then previously or concurrently made by any other Guarantor,
exceeds the amount which otherwise would have been paid by or attributable to such Guarantor if each Guarantor had paid the aggregate
Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Guarantor&rsquo;s Allocable Amount (as determined
immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Guarantors as determined immediately
prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guarantor Payment and the Guaranteed
Obligations (other than unliquidated obligations that have not yet arisen), so long as the Facility and the obligations of the Company
under the Note Purchase Agreement and the Notes have terminated, such Guarantor shall be entitled to receive contribution and indemnification
payments from, and be reimbursed by, each other Guarantor for the amount of such excess, pro rata based upon their respective Allocable
Amounts in effect immediately prior to such Guarantor Payment.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">This Section 2.9 is intended only to define the relative rights of the Guarantors,
and nothing set forth in this Section 2.9 is intended to or shall impair the obligations of the Guarantors, jointly and severally, to
pay any amounts as and when the same shall become due and payable in accordance with the terms of this Note
Guarantee.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">The parties hereto acknowledge that the rights of contribution and indemnification
hereunder shall constitute assets of the Guarantor or Guarantors to which such contribution and indemnification is owing.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">The rights of the indemnifying Guarantors against other Guarantors under this Section
2.9 shall be exercisable upon the full and indefeasible payment of the Guaranteed Obligations in cash (other than contingent obligations
for which no claim has been asserted, including unliquidated obligations that have not yet arisen) and the termination of the Note Purchase
Agreement.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.10</B></TD><TD><B>Liability Cumulative</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">The liability of each Guarantor under this Note Guarantee
is in addition to and shall be cumulative with all liabilities of each Guarantor to the Noteholders under the Note Purchase Agreement,
the Notes and the other Financing Documents to which such Guarantor is a party or in respect of any obligations or liabilities of the
other Guarantors, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 3 - REPRESENTATIONS AND WARRANTIES</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt">Each Guarantor represents and warrants to the Noteholders that:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.1</B></TD><TD><B>Organization; Power and Authority</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">Such Guarantor is a corporation or limited liability company,
as the case may be, duly organized, validly existing and, where applicable, in good standing in all material respects under the laws of
its jurisdiction of organization and has full corporate or limited liability company, as the case may be<B>, </B>power, authority and
capacity to own its properties and conduct its business as presently conducted and such Guarantor has the requisite power, authority and
capacity to execute, deliver and perform its obligations under this Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.2</B></TD><TD><B>Authorization, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">This Note Guarantee has been duly authorized by all necessary
action on the part of such Guarantor, and this Note Guarantee constitutes a legal, valid and binding obligation of such Guarantor enforceable
against such Guarantor in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors&rsquo; rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.3</B></TD><TD><B>Compliance with Laws, Other Instruments, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.65pt 0pt 12pt; font-size: 10pt; text-align: justify">The execution, delivery and performance by such Guarantor
of its obligations under this Note Guarantee will not (a) contravene, result in any breach of, or constitute a default under, or result
in the creation of any Lien in respect of any property of such Guarantor under, any indenture, mortgage, deed of trust, loan, purchase
or credit agreement, lease, corporate charter or by-laws or other organizational document, or any other agreement or instrument to which
such Guarantor is bound or by which such Guarantor or any of its properties may be bound or affected, (b) conflict with or result in a
breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental
Authority having jurisdiction over such Guarantor or (c) violate any provision of any statute or other rule or regulation of any Governmental
Authority applicable to such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.4</B></TD><TD><B>Governmental Authorizations, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Guarantor
of this Note Guarantee, including, without limitation, any such approval thereof required in connection with the obtaining of U.S. Dollars
to make payments under this Note Guarantee and the payment of such U.S. Dollars to Persons resident in the United States of America. It
is not necessary to ensure the legality, validity, enforceability or admissibility into evidence of this Note Guarantee in such Guarantor&rsquo;s
jurisdiction of organization that this Note Guarantee or any other document be filed, recorded or enrolled with any Governmental Authority,
or that any such agreement or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.5</B></TD><TD><B>Solvency</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">Upon the execution and delivery hereof, such Guarantor will
be solvent, will be able to pay its debts as they generally become due and will have capital sufficient to carry on its business.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.6</B></TD><TD><B>Ranking</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">All liabilities of such Guarantor under this Note Guarantee
constitute direct, unconditional and general obligations of such Guarantor and rank in right of payment either <I>pari passu </I>with
or senior to all other permitted unsecured unsubordinated indebtedness of such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.7</B></TD><TD><B>Taxes</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">No liability for any tax (whether income, documentary, sales,
stamp, registration, issue, capital, property, excise or otherwise), duty, levy, impost, fee, charge or withholding (each a &ldquo;<B>Tax</B>&rdquo;
and collectively &ldquo;<B>Taxes</B>&rdquo;), directly or indirectly, imposed, assessed, levied or collected by or for the account of
any Governmental Authority of or in such Guarantor&rsquo;s jurisdiction of organization or any political subdivision thereof or therein
(an &ldquo;<B>Applicable Taxing Authority</B>&rdquo;) will be incurred by such Guarantor or any Noteholder as a result of the execution
or delivery of this Note Guarantee and, based on present applicable law, no deduction or withholding in respect of Taxes imposed by or
for the account of any Applicable Taxing Authority is required to be made from any payment by such Guarantor under this Note Guarantee
except for any such withholding or deduction arising out of the conditions described in Section 5.</P>

<P STYLE="margin: 0pt 13.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 13.75pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 13.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 13.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.9</B></TD><TD><B>Independent Determination; No Reliance</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">Such Guarantor has, independently and without reliance upon
any Noteholder and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Note Guarantee and any other Financing Document to which it is or may become a party, and has established adequate procedures
for continually obtaining information pertaining to, and is now and at all times will be completely familiar with, the business, condition
(financial or otherwise), operations, performance, properties and prospects of the Company and each other Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 4 ENFORCEMENT</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.1</B></TD><TD><B>Payment on Demand</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">The obligation of each Guarantor to pay the amount of the
Guaranteed Obligations and all other amounts payable by it to the Noteholders under this Note Guarantee arises, and each Guarantor shall
make such payments, immediately after demand for same is made in writing to it by the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.2</B></TD><TD><B>Amount of Guaranteed Obligations</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">Any account settled or stated by or among the Noteholders
and the Company, or if any such account has not been settled or stated immediately before demand for payment under this Note Guarantee,
any account stated by the Noteholders shall, in the absence of mathematical error, be accepted by each Guarantor as conclusive evidence
of the amount of the Guaranteed Obligations which is due by the Company to the Noteholders or remains unpaid by the Company to the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.3</B></TD><TD><B>Assignment and Postponement</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.85pt">Upon the occurrence and during the continuance of an Event of Default, obligations,
liabilities and indebtedness of the Company to a Guarantor and all security therefor (the &ldquo;<B>Intercorporate Indebtedness</B>&rdquo;)
shall be held in trust for the Noteholders and shall be collected, enforced or proved subject to, and for the purpose of, this Note Guarantee
and any payments received by a Guarantor in respect of the Intercorporate Indebtedness shall be segregated from other funds and property
held by such Guarantor and immediately paid to the Noteholders on account of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">Upon the occurrence and during the continuance of an Event of Default, the Noteholders
are entitled to receive payment of the Guaranteed Obligations in full before each Guarantor is entitled to receive any payment on account
of the Intercorporate Indebtedness, including in any proceeding against any Obligated Party under any Debtor Relief Law. In such case,
the Intercorporate Indebtedness shall not be released by such Guarantor until the Noteholders&rsquo; prior written consent to such release
has been obtained. No Guarantor shall permit the prescription of the Intercorporate Indebtedness by any statute
of limitations or ask for or obtain any security interest or negotiable paper for, or other evidence of, the Intercorporate Indebtedness
except for the purpose of delivering the same to the Noteholders.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.4</B></TD><TD><B>Remedies</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">The Noteholders need not seek or exhaust their recourse
against the Company or any other Person before being entitled to (a) enforce payment and performance under this Note Guarantee against
any Guarantor, or (b) pursue any other remedy against any Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.5</B></TD><TD><B>No Prejudice to Noteholders</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">The Noteholders are not prejudiced in any way in the right
to enforce any provision of this Note Guarantee by any act or failure to act on the part of the Company or the Noteholders. The Noteholders
may, at any time and from time to time, in such manner as they may determine is expedient, without any consent of, or notice to, any Guarantor,
and without impairing or releasing the obligations of the Guarantors, (a) change the manner, place or terms of payment or change or extend
the time of payment of, or renew or alter, all or any part of, the Guaranteed Obligations, (b) amend, modify, supplement or restate the
Notes, the Note Purchase Agreement or any other instrument referred to therein, or the terms or conditions in respect of any transaction
with, the Company or any other Person, (c) release, compound or vary the liability of the Company or any other Person liable in any manner
under or in respect of the Guaranteed Obligations, (d) accept compromises or arrangements from any Person, (e) exercise or enforce or
refrain from exercising or enforcing any right against the Company or any other Person, (f) apply any sums from time to time received
to the Guaranteed Obligations or any part thereof, and change any such application in whole or in part from time to time, and (g) otherwise
deal with, or waive or modify their right to deal with, any Person. In their dealings with the Company and the Guarantors, the Noteholders
need not enquire into the authority or power of any Person purporting to act for or on behalf of the Company or any such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.6</B></TD><TD><B>Suspension of Guarantor Rights</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">So long as there are any Guaranteed Obligations, no Guarantor
shall exercise any rights which it may at any time have by reason of the performance of any of its obligations under this Note Guarantee
to (a) be indemnified by the Company, (b) claim contribution from any other guarantor of the debts, liabilities or obligations of the
Company, or (c) take the benefit of any rights of the Noteholders under any of the Financing Documents.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.7</B></TD><TD><B>Rights of Subrogation</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">No Guarantor will assert any right, claim or cause of action,
including, without limitation, a claim of subrogation, contribution or indemnification, that it has against any other Obligated Party
or any collateral, until the Company and the Guarantors have fully performed all their obligations to the Noteholders and the Note Purchase
Agreement has terminated.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.8</B></TD><TD><B>No Set-off by Guarantor</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.95pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.95pt 0pt 12pt; font-size: 10pt; text-align: justify">To the fullest extent permitted by applicable law, each
Guarantor shall make all payments under this Note Guarantee without regard to any defence, counter-claim or right of set-off available
to it.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.9</B></TD><TD><B>Successors of the Company</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">Any change or changes in the name of or reorganization (whether
by way of reconstruction, consolidation, amalgamation, merger, transfer, sale, lease or otherwise) of the Company or its business will
not affect or in any way limit or lessen the liability of each Guarantor under this Note Guarantee. This Note Guarantee shall extend to
any Person acquiring, or from time to time carrying on, the business of the Company.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 5 - TAX INDEMNITY</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">Any and all payments under this Note Guarantee to or for the account of any Noteholder
shall be made free and clear of, and without deduction or withholding for or on account of, any Tax, except for Taxes on the net income
or capital of a Noteholder or Taxes resulting from such Noteholder changing its residency for tax purposes or to the extent such deduction
or withholding is required by applicable law. If any Tax is required by applicable law to be deducted or withheld from any such payments
by any Guarantor, such Guarantor will make such deductions or withholding and pay to the relevant taxing authority the full amount deducted
or withheld (including, without limitation, the full amount of any additional Tax required to be deducted or withheld from or otherwise
paid in respect of any payment made to any Noteholder pursuant to this Section 5(a) as provided below) before penalties attach thereto
or interest accrues thereon. In the event of the imposition by or for the account of any Applicable Taxing Authority or of any Governmental
Authority of any jurisdiction in which any Guarantor resides for tax purposes or any jurisdiction from or through which such Guarantor
is making any payment in respect of this Note Guarantee, other than any Governmental Authority of or in the United States of America or
Canada, or any political subdivision thereof or therein, of any Indemnifiable Taxes upon or with respect to any payments in respect of
this Note Guarantee, whether by withholding or otherwise, such Guarantor hereby agrees to pay forthwith from time to time in connection
with each payment on this Note Guarantee to the Noteholders such additional amounts as shall be required so that every payment received
by any Noteholder in respect of the Guaranteed Obligations and every payment received by any Noteholder under this Note Guarantee will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid to the any Noteholder
pursuant to this Section 5(a) as provided below) and any interest or penalties relating thereto, be less than the amount due and payable
to the Noteholder, as applicable, in respect of such Guaranteed Obligations or under this Note Guarantee before the assessment of such
Tax. In addition, each Guarantor shall indemnify each Noteholder for the full amount of Indemnifiable Taxes paid or required to be paid
on amounts payable pursuant to this Note Guarantee and any liability (including penalties,
interest and expenses) arising therefrom, together with such amounts as will result in the Noteholder, as applicable, receiving the amount
that would otherwise have been received by it in the absence of such Indemnifiable Taxes and the indemnification provided for herein.
Except where any Guarantor is required to deduct or withhold any Indemnifiable Tax, the Noteholders, upon becoming aware of any Noteholder&rsquo;s
liability (or potential liability) for any Indemnifiable Taxes, shall promptly notify the Guarantors of any such liability (or potential
liability) for such Indemnifiable Taxes for which the Guarantors are required to indemnify any Noteholder pursuant to this Section 5(a)
and of the amount payable to it by the Guarantors pursuant hereto, and the Guarantors shall jointly and severally pay such amounts either
(i) directly to the Applicable Taxing Authority or other relevant Governmental Authority that imposed such Indemnifiable Taxes, as the
case may be, on or before the date such Indemnifiable Taxes are due or (ii) if any Noteholder has already paid such Indemnifiable Taxes,
to such Noteholder within 10 days of the receipt of such notice and if such Indemnifiable Taxes are not paid on or before the date specified
in clause (i) or within the period specified in clause (ii), as the case may be, such amounts shall bear interest at the Default Rate
thereafter. Each Noteholder shall determine the amount payable to it, which determination shall be conclusive in the absence of mathematical
error, and no Noteholder shall be required to disclose any confidential or proprietary information in connection with such determination.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Within 60 days after the date of any payment by any Guarantor of any Tax pursuant
to Section 5(a) in respect of any payment in respect of the Guaranteed Obligations or this Section 5, such Guarantor shall furnish to
each Noteholder the original tax receipt for the payment of such Tax (or if such original tax receipt is not available, a duly certified
copy of the original tax receipt), together with such other documentary evidence with respect to such payments as may be reasonably requested
from time to time by any Noteholder. If a Guarantor shall have determined, with respect to any Noteholder, that a deduction or withholding
of Tax is required to be made, and that no amounts are required to be paid to such Noteholder under Section 5(a) as the result of any
exemption therefrom as provided in Section 5(a), such Guarantor shall promptly inform such Noteholder, in writing, of the imposition or
withholding of such Tax and of the applicable exemption set forth in Section 5(a) that the Guarantor claims releases such Guarantor from
the obligation to pay any such amount otherwise payable under Section 5(a).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">The obligations of the Guarantors under this Section 5 shall survive the payment
of any of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">If any Guarantor has made a payment to or on account of any Noteholder pursuant
to Section 5(a) and such Noteholder is entitled to a refund of the Tax to which such payment is attributable from the Governmental Authority
to which the payment of the Tax was made and such refund is readily determinable by such Noteholder (such amount to be no greater than
an amount that, if paid to such Guarantor by such Noteholder, would leave such Noteholder
in no worse position than would have existed had such Tax not been required by applicable law to be paid) and can be obtained by filing
one or more Forms (so long as such Forms do not impose, in such Noteholder&rsquo;s determination, an unreasonable burden in time, resources
or otherwise on such Noteholder), then (i) such Noteholder shall, as soon as reasonably practicable after receiving a written request
therefor from such Guarantor (which request shall specify in reasonable detail the Forms to be filed), file such Forms and (ii) upon receipt
of such refund, if any, as soon as reasonably practicable pay over such refund to such Guarantor without interest. This Section 5(d) shall
not require any Noteholder (x) to account for any indirect taxation benefits arising from the deducting or withholding of any Tax, (y)
to disclose any confidential or proprietary information, or (z) to arrange its tax or financial affairs in any particular manner.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.6pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 6 - MISCELLANEOUS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.1</B></TD><TD><B>Amendments, Etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">This Note Guarantee may be amended, and the observance of
any term hereof may be waived (either retroactively or prospectively), with (and only with) the written consent of each Guarantor and
the Required Holders, except that no such amendment or waiver may, without the written consent of each Noteholder, amend any provision
of Section 2 or this Section 6.1.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.2</B></TD><TD><B>Notices</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">All notices and communications provided for hereunder shall
be in writing and sent as provided in Section 20 of the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.3</B></TD><TD><B>Venue</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.95pt 0pt 12pt">ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS NOTE
GUARANTEE AGAINST A GUARANTOR MAY BE BROUGHT IN THE COURTS OF THE PROVINCE OF ONTARIO, WHICH COURTS THE PARTIES HERETO ACKNOWLEDGE IRREVOCABLY
TO BE A CONVENIENT FORUM FOR THE RESOLUTION OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY AND EACH GUARANTOR HEREBY CONSENTS TO
THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">EACH OF THE GUARANTORS HEREBY IRREVOCABLY DESIGNATES
AND APPOINTS THE COMPANY (THE &ldquo;<B>PROCESS AGENT</B>&rdquo;) AT ITS REGISTERED OFFICE FROM TIME TO TIME, WHICH OFFICE IS
CURRENTLY LOCATED AT 1155 BAY STREET, SUITE 600, TORONTO, ONTARIO, M5R 2A9, AS THE AUTHORIZED AGENT UPON WHICH PROCESS MAY BE SERVED
IN ANY SUIT OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS NOTE GUARANTEE WHICH MAY BE INSTITUTED IN THE PROVINCE OF
ONTARIO AND AGREES THAT SERVICE OF PROCESS ON THE PROCESS AGENT TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH GUARANTOR BY
THE PERSON SERVING THE SAME SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BE DEEMED IN EVERY RESPECT TO BE EFFECTIVE SERVICE OF
PROCESS ON SUCH GUARANTOR, AS THE CASE MAY BE. HOWEVER, NOTHING IN THIS SECTION 6.3 SHALL AFFECT THE RIGHT OF ANY NOTEHOLDER TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW OR AFFECT THE RIGHT OF ANY NOTEHOLDER TO BRING ANY ACTION OR
PROCEEDING AGAINST THE COMPANY OR ANY GUARANTOR OR THEIR PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTION INCLUDING, WITHOUT
LIMITATION THE STATE OF NEW YORK.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.4</B></TD><TD><B>Judgment Currency</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">If for the purpose of obtaining judgment in any court it is necessary to convert
an amount due hereunder in the currency in which it is due (the &ldquo;<B>Original Currency</B>&rdquo;) into another currency (the &ldquo;<B>Second
Currency</B>&rdquo;), the rate of exchange applied shall be that at which, in accordance with normal banking procedures, a Noteholder
could purchase, in the Toronto foreign exchange market, the Original Currency with the Second Currency on the date 2 Business Days preceding
that on which judgment is given. Each Guarantor agrees that its obligation in respect of any Original Currency due from it to any Noteholder
hereunder shall, notwithstanding any judgment or payment in such other currency, be discharged only to the extent that, on the Business
Day following the date such Noteholder receives payment of any sum so adjudged to be due hereunder in the Second Currency such Noteholder
may, in accordance with normal banking procedures, purchase, in the Toronto foreign exchange market the Original Currency with the amount
of the Second Currency so paid; and if the amount of the Original Currency so purchased or could have been so purchased is less than the
amount originally due in the Original Currency, each Guarantor agrees as a separate obligation and notwithstanding any such payment or
judgment to indemnify such Noteholder against such loss.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">The term &ldquo;<B>rate of exchange</B>&rdquo; in this Section 6.4 means the spot
rate at which the Noteholder in accordance with normal practices is able on the relevant date to purchase the Original Currency with the
Second Currency and includes any premium and costs of exchange payable in connection with such purchase.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.5</B></TD><TD><B>Successors and Assigns</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">All covenants and other agreements of each Guarantor in
this Note Guarantee shall bind its successors (including any successor by way of amalgamation or merger) and assigns and shall enure to
the benefit of the Noteholders and their respective successors and assigns; provided, however, no Guarantor shall assign this Note Guarantee
or delegate any of its duties hereunder without the Noteholders&rsquo; prior written consent and any assignment made without such consent
shall be absolutely null and void.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.6</B></TD><TD><B>Severability</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">Any provision of this Note Guarantee that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by applicable law) not invalidate or render unenforceable such provision in any
other jurisdiction.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.7</B></TD><TD><B>Construction</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">Each agreement contained herein shall be construed (absent
express provision to the contrary) as being independent of each other agreement contained herein, so that compliance with any one agreement
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other agreement. Where any provision herein
refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether
such action is taken directly or indirectly by such Person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.8</B></TD><TD><B>Expenses</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">The Guarantors shall jointly and severally pay on demand
all costs and expenses, including, without limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated
costs of in-house counsel and paralegals) and expenses paid or incurred by any Noteholder in connection with the enforcement of this Note
Guarantee or the preservation of its rights as a result of any breach by any Guarantor of its obligations hereunder and any actual or
proposed amendment, waiver or consent relating thereto (whether or not executed).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.9</B></TD><TD><B>Rights Cumulative</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">Each of the rights and remedies of the Noteholders under
this Note Guarantee shall be in addition to all of their other rights and remedies under applicable law, and nothing in this Note Guarantee
shall be construed as limiting any such rights or remedies.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.10</B></TD><TD><B>Survival of Representations and Warranties</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">All representations and warranties contained herein shall
survive the execution and delivery of this Note Guarantee, the Note Purchase Agreement and the Notes.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.11</B></TD><TD><B>No Third Party Beneficiary</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 12pt">This Note Guarantee is solely for the benefit of the Noteholders
and their successors and assigns and may not be relied on by any other Person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.12</B></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.95pt 0pt 12pt">THIS NOTE GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, EXCLUDING CHOICE OF LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT
WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.13</B></TD><TD><B>Counterparts</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.75pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee may be executed in any number of counterparts
and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an original but all such
counterparts shall together constitute one and the same Note Guarantee. Delivery of an executed counterpart of this Note Guarantee by
facsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Note Guarantee. Any
party delivering an executed counterpart of this Note Guarantee by facsimile or electronic mail also shall deliver an original executed
counterpart of this Note Guarantee but the failure to deliver an original executed counterpart shall not affect the validity, enforceability,
and binding effect of this Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.14</B></TD><TD><B>Additional Parties</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">At any time after the date of this Note Guarantee, one or
more additional persons or entities may become parties hereto by executing and delivering to the Noteholders a counterpart of this Note
Guarantee substantially in the form attached as Schedule &ldquo;A&rdquo; hereto (each, a &ldquo;<B>Counterpart to Note Guarantee</B>&rdquo;).
Immediately upon such execution and delivery (and without any further action), each such additional person or entity will become a Guarantor
hereunder, and will be bound by all of the terms of, this Note Guarantee as if such person or entity had been an original party hereto
as a Guarantor. The addition of any additional Guarantor hereunder shall not require the consent of any other Guarantor and all of the
Guaranteed Obligations under this Note Guarantee shall remain in full force and effect notwithstanding the addition of any such additional
Guarantor to this Note Guarantee. Each reference to &ldquo;Guarantor&rdquo; (or any words of like import referring to a Guarantor) in
this Note Guarantee, the Note Purchase Agreement, the Notes or any other Financing Document shall also mean any additional person that
becomes a Guarantor hereunder after the date of this Note Guarantee; and each reference in this Note Guarantee, the Note Purchase Agreement,
the Notes or any other Financing Document to this &ldquo;Note Guarantee&rdquo; (or words of like import referring to this Note Guarantee)
shall mean this Note Guarantee as supplemented by each Counterpart to Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.15</B></TD><TD><B>Agreement to be Bound</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">Each Guarantor hereby agrees to be bound by each and all
of the terms and provisions of the Note Purchase Agreement applicable to any Guarantor. Without limiting the generality of the foregoing,
by its execution and delivery of this Note Guarantee, each Guarantor hereby:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">(a) makes to each Noteholder each of the representations
and warranties set forth in the Note Purchase Agreement applicable to any Guarantor fully as though such Guarantor were a party thereto,
and such representations and warranties are incorporated herein by this reference, <I>mutatis mutandis</I>; and (b) agrees and covenants
(i) to do each of the things set forth in the Note Purchase Agreement that the Company agrees and covenants to cause any Guarantor to
do, and</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">(ii) to not do each of the things set forth in the Note
Purchase Agreement that the Company agrees and covenants to cause any Guarantor not to do, in each case, fully as though such Guarantor
was a party thereto, and such agreements and covenants are incorporated herein by this reference, <I>mutatis mutandis</I>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.16</B></TD><TD STYLE="text-align: justify"><B>Entire Agreement</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.8pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee and the other Financing Documents represent
the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements
of the parties. There are no unwritten oral agreements among the parties relating to the subject matter hereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-style: italic; font-weight: bold; text-align: center; margin: 0pt 66.65pt 0pt 64.7pt">[Remainder of page
intentionally left blank. Next page is signature page.]</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>



<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center"></P>

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<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 18.3pt 0pt 12pt"><B>IN WITNESS WHEREOF</B>, this Note Guarantee has been duly executed by the Guarantors
as of the day and year first above written.</P>

<P STYLE="margin: 0pt 18.3pt 0pt 12pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Per:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: </TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center"></P>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.15pt"><B>Schedule &ldquo;A&rdquo;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.1pt"><B>FORM OF COUNTERPART TO U.S. GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 66.65pt 0pt 64.7pt"><B>(&ldquo;[Corporation Name]&rdquo;)</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt"><B>REFERENCE </B>is hereby made to: (1) that certain Note
Purchase and Private Shelf Agreement, dated September 29, 2022 (as may be amended, restated or otherwise modified and in effect from time
to time, the &ldquo;<B>Note Purchase Agreement</B>&rdquo;), among FirstService Corporation (the &ldquo;<B>Company</B>&rdquo;), PGIM, Inc.,
and each of the holders of the Notes from time to time party thereto; and (2) that certain U.S. Guarantee (as amended, restated or otherwise
modified and in effect from time to time, the &ldquo;<B>Note Guarantee</B>&rdquo;) in the form attached to the Note Purchase Agreement
as Exhibit D and dated as of [ &#9679; ].</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt"><B>WHEREAS</B>, pursuant to the terms of the Note Purchase
Agreement, the undersigned (the &ldquo;<B>Guarantor</B>&rdquo;) is required to become a party to the Note Guarantee in favour of the Noteholders,
and to guarantee the performance of the Guaranteed Obligations (as defined in the Note Guarantee) to the Noteholders;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt"><B>AND WHEREAS</B>, the undersigned is a Subsidiary of the
Company acquired or formed subsequent to the effective date of the Note Guarantee and, pursuant to the terms and conditions of the Note
Purchase Agreement and Section 6.14 of the Note Guarantee, is required to execute a counterpart to the Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 12pt"><B>NOW THEREFORE</B>, for good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the undersigned hereby:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">acknowledges that it has recently become a &ldquo;Guarantor&rdquo; as such term
is defined in the Note Purchase Agreement,</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">in its capacity as Guarantor, (i) acknowledges and agrees to be bound by the terms
of the Note Guarantee, (ii) represents and warrants as to itself that the representations and warranties contained in Section 3 of the
Note Guarantee are true and correct in all material respects as of the date hereof,</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>acknowledges having read the Note Guarantee, and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">affirms the obligations (including the Guaranteed Obligations) imposed on it under
the Note Guarantee.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt"><B>&nbsp;</B></P>

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<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>EXECUTED </B>as of this  <U>__ </U>day of_________, 20<U>__</U>.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">Authorized Signing Officer</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.1pt"><B>FORM OF CANADIAN GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>THIS CANADIAN GUARANTEE </B>(as the same may hereafter
be amended, supplemented or otherwise modified, this &ldquo;<B>Note Guarantee</B>&rdquo;) is entered into as of [ &#9679; ], by and among
each of the entities named on the execution pages hereof and each of the entities which becomes a party hereto pursuant to the terms of
Section 6.14 hereof (each a &ldquo;<B>Guarantor</B>&rdquo;, and collectively, the &ldquo;<B>Guarantors</B>&rdquo;), in favor of the holders
from time to time of the Notes (as defined below) (each a &ldquo;<B>Noteholder</B>&rdquo;, and collectively, the &ldquo;<B>Noteholders</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>WHEREAS </B>FirstService Corporation, a company incorporated
under the laws of Ontario, Canada (the &ldquo;<B>Company</B>&rdquo;) has entered into that certain Note Purchase and Private Shelf Agreement,
dated September 29, 2022 (as may be amended, restated, supplemented or otherwise modified and in effect from time to time, the &ldquo;<B>Note
Purchase Agreement</B>&rdquo;), by and among the Company, PGIM, Inc., each of the Series [&#9679;] Purchasers (as defined below) and each
other purchaser of Notes which becomes a party thereto from time to time in accordance with the terms thereof, pursuant to which (a) the
Company has agreed to issue and sell to certain purchasers listed on the Purchaser Schedule attached to the Confirmation of Acceptance
dated as of [&#9679;] (the &ldquo;<B>Series [ ] Purchasers</B>&rdquo;) U.S.$ [&#9679;] in aggregate principal amount of its [&#9679;]%
Series [&#9679;] Guaranteed Senior Notes Due [&#9679;] (together with any notes issued in substitution, replacement or exchange therefor
pursuant to the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise modified from time to time,
the &ldquo;<B>Initial Notes</B>&rdquo;), and (b) the Company has authorized the issuance from time to time of additional senior unsecured
notes upon the terms and subject to the conditions set forth in the Note Purchase Agreement (together with any notes issued in substitution,
replacement or exchange therefor pursuant to the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise
modified from time to time, the &ldquo;<B>Shelf Notes</B>&rdquo;, and together with the Initial Notes, collectively, the &ldquo;<B>Notes</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt"><B>WHEREAS </B>as a condition to purchasing the Notes under
the Note Purchase Agreement, the holders of the Notes require, among other things, that each Guarantor guarantee the Guaranteed Obligations;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>WHEREAS</B> each Guarantor has agreed to guarantee the Guaranteed
Obligations; and</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt"><B>WHEREAS </B>each Guarantor is a direct or indirect Subsidiary
of the Company and will derive substantial direct and indirect benefits from the purchase of the Notes by the Purchasers. The Company
and the Guarantors are members of a group of related companies, the success of any one of which is dependent in part on the success of
the other members of such group.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt"><B>NOW THEREFORE </B>in consideration of the foregoing,
and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), each Guarantor hereby agrees
as follows:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 1 - DEFINITIONS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>1.1</B></TD><TD><B>Definitions</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 48pt">&nbsp;</P>

<P STYLE="margin: 0pt 14pt 0pt 48pt; font-size: 10pt; text-align: justify">For the purposes of this Note Guarantee, all capitalized terms
used herein and not defined herein shall have the respective meanings given them in the Note Purchase Agreement. The following terms shall
have the following meanings:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">&ldquo;<B>Debtor Relief Law</B>&rdquo; means Title 11 of the United States Code,
Bankruptcy and Insolvency Act (Canada), Companies&rsquo; Creditors Arrangement Act (Canada), as such legislation may be amended from time
to time, or any similar federal, provincial or state law for the relief of debtors generally and all other liquidation, bankruptcy, assignment
for the general benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization or similar
debtor relief laws of the United States of America, Canada, or any other applicable jurisdictions in effect from time to time.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.85pt">&ldquo;<B>Financing Documents</B>&rdquo; means this Note Guarantee, the Note Purchase
Agreement, the Notes and each other document executed by a Guarantor in connection with any of the foregoing.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>&ldquo;<B>Guaranteed Obligations</B>&rdquo; shall have the meaning set out in Section 2.1 hereof.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">&ldquo;<B>Obligated Party</B>&rdquo; means the Company, any Guarantor, any other
guarantor of, or any other Person obligated for, all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt"><B>SECTION 2 THE GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.1</B></TD><TD><B>The Guarantee</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Each Guarantor jointly and severally hereby, as a primary obligor and not merely
as surety, absolutely, unconditionally and irrevocably guarantees to the Noteholders, the prompt payment in full when due (whether at
stated maturity, upon acceleration, by optional prepayment or otherwise), of (i) the principal of, the Make-Whole Amount, if any, and
interest on (including, without limitation, interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding),
and any other amounts due under, the Notes when and as the same shall become due and payable and (ii) any other sums which may become
due under the terms and provisions of the Notes, the Note Purchase Agreement or any other instrument referred to therein, including, without
limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated costs of in-house counsel and paralegals)
(collectively, the &ldquo;<B>Guaranteed Obligations</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">Each Guarantor further agrees that the Guaranteed Obligations may be increased,
extended, renewed or otherwise modified in whole or in part without notice to or further assent from it, and that it remains bound upon
its guarantee notwithstanding any such increase, extension, renewal or modification.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.95pt">All terms of this Note Guarantee apply to and may be enforced by or on behalf
of any Affiliate of any Noteholder that extended any portion of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">Without limiting the generality of the foregoing, each Guarantor&rsquo;s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and which would be owed by the Company or any
other Guarantor to any Noteholder under or in respect of the Note Purchase Agreement, the Notes or any of the other Financing Documents
but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding
involving the Company or such other Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.2</B></TD><TD><B>Indemnity</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">If any or all of the Guaranteed Obligations are not paid
or performed by the Company and are not paid or performed by a Guarantor under Section 2.1 for any reason whatsoever, each Guarantor will,
as a separate and distinct obligation, indemnify and hold harmless each of the Noteholders from and against all losses, costs and expenses
suffered or incurred by each such Noteholder arising from, or in connection with, or as a result of (a) any of the provisions of the Note
Purchase Agreement, the Notes or any of the Financing Documents being or becoming void, voidable, unenforceable or invalid, or, (b) the
failure of the Company to fully and promptly pay any of the Guaranteed Obligations.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.3</B></TD><TD><B>Primary Obligation</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">If (i) any or all of the Guaranteed Obligations are not paid or performed by the
Company or by a Guarantor under Section 2.1, respectively, or (ii) the Noteholders are not indemnified under Section 2.2, in each case,
for any reason whatsoever, such Guaranteed Obligations will, as a separate and distinct obligation, be paid or performed by each Guarantor
as primary obligor immediately upon written demand to such Guarantor by any Noteholder for such payment or performance.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">This Note Guarantee is an absolute, unconditional and continuing guarantee of payment
and performance and not of collection. Each Guarantor waives any right to require any Noteholder to sue any other Obligated Party, or
otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Each Guarantor hereby agrees that (i) it is directly, jointly and severally with
any other Obligated Party, liable to the Noteholders, (ii) the Guaranteed Obligations of each Guarantor hereunder are independent of the
obligations of any other Obligated Party, and (iii) a separate action may be brought against each Guarantor, whether such action is brought
against any other Obligated Party or whether any other Obligated Party is joined in such action. Each Guarantor hereby agrees that its
liability hereunder shall be immediate and shall not be contingent upon the exercise or enforcement by any Noteholder of whatever remedies
it may have against any Obligated Party. Each Guarantor hereby agrees that any release which may be given by the Noteholders to
any Obligated Party, or with respect to any property or asset subject to a Lien, shall not release it from its obligations hereunder.
Each Guarantor consents and agrees that the Noteholders shall not be under any obligation to marshal any property or assets of any Obligated
Party in favor of it, or against or in payment of any or all of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.4</B></TD><TD><B>No Discharge or Diminishment of Guarantee.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">Except as otherwise provided for herein, the obligations of each Guarantor hereunder
are unconditional, absolute and irrevocable and not subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Guaranteed Obligations and termination of the Note Purchase Agreement), including:
(i) any claim of waiver, release, extension, renewal, settlement, surrender, alteration or compromise of any of the Guaranteed Obligations,
by operation of law or otherwise; (ii) any change in the existence, structure or ownership of any Obligated Party; (iii) any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Obligated Party or its assets or any resulting release or discharge
of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Guarantor may have at any
time against any Obligated Party, any Noteholder or any other Person, whether in connection herewith or in any unrelated transactions.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">The obligations of each Guarantor hereunder are not subject to any defence or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed
Obligations, the Note Purchase Agreement, the Notes, this Note Guarantee or otherwise, or any provision of applicable law or regulation
purporting to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">The Guaranteed Obligations of any Guarantor hereunder shall not be discharged
or impaired or otherwise affected by: (i) the failure of any Noteholder to assert any claim or demand or to exercise or enforce any right
or remedy with respect to all or any part of the Guaranteed Obligations; (ii) any change in the time, place or manner of payment of, or
in any other term of, the Guaranteed Obligations or any other obligation of any Obligated Party under any agreement relating to the Guaranteed
Obligations, or any rescission, waiver, amendment or other modification of the Note Purchase Agreement, the Notes, any Financing Document
or any other agreement relating to the Guaranteed Obligations; (iii) any taking, release, impairment, amendment, waiver or other modification
of any guarantee, for the Guaranteed Obligations; (iv) creating new or additional Guaranteed Obligations after prior Guaranteed Obligations
have been satisfied in whole or in part; (v) any failure of the Noteholders to disclose to any Guarantor any information relating to the
business, condition (financial or otherwise), operations, performance, properties or prospects of any other Guarantor now or hereafter
known to such Noteholder; (vi) any taking, exchange, substitution, release, impairment or non-perfection of any collateral (if
any) or any proceeds thereof; (vii) each Guarantor waiving any duty of the Noteholders to disclose such information; or (viii) any default,
failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance,
act, omission or delay that might in any manner or to any extent vary the risk of such Guarantor or that would otherwise operate as a
discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of the Guaranteed Obligations).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.6pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any right to revoke this Note Guarantee as to future Guaranteed Obligations. If such a revocation is effective notwithstanding the foregoing
waiver, each Guarantor acknowledges and agrees that (i) no such revocation shall be effective until written notice thereof has been received
by the Noteholders, (ii) no such revocation shall apply to any Guaranteed Obligations in existence on the date of receipt by the Noteholders
of such written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment
terms, or other terms and conditions thereof), (iii) no such revocation shall apply to any Guaranteed Obligations made or created after
such date to the extent made or created pursuant to a legally binding commitment of the Noteholders on the date of such revocation, (iv)
no payment by any Guarantor, the Company, or from any other source, prior to the date of the Noteholders&rsquo; receipt of written notice
of such revocation, shall reduce the maximum obligation of any Guarantor hereunder, and (v) any payment by the Company or from any source
other than the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guaranteed Obligations
as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce
the maximum obligation of any Guarantor hereunder.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 13.95pt">Each default in the payment or performance of any of the Guaranteed Obligations
shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the case may
be, hereunder as each such default occurs.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.5</B></TD><TD><B>Defences Waived</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any defence based on or arising out of any defence of any other Obligated Party or the unenforceability of all or any part of the Guaranteed
Obligations from any cause, or the cessation from any cause of the liability of any other Obligated Party, other than the indefeasible
payment in full in cash of the Guaranteed Obligations and the termination of the Facility. Without limiting the generality of the foregoing,
each Guarantor irrevocably waives notice of acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by applicable
law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated
Party or any other Person. Each Guarantor confirms that it is not a surety under any state or provincial law and shall not raise any such law as a defence
to its obligations hereunder. The Noteholders may, at their election, adjust any part of the Guaranteed Obligations, make any other accommodation
with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party, without affecting or impairing
in any way the liability of such Guarantor under this Note Guarantee except to the extent the Guaranteed Obligations have been fully and
indefeasibly paid in cash and the Facility has terminated. To the fullest extent permitted by applicable law, each Guarantor waives any
defence arising out of any such election even though that election may operate, pursuant to applicable law, to impair or extinguish any
right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Obligated Party.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">To the fullest extent permitted by applicable law, each Guarantor hereby waives:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 84pt">(i) notice of any financial accommodations made under the
Note Purchase Agreement, or the creation or existence of any Guaranteed Obligations; (ii) notice of the amount of the Guaranteed Obligations,
subject, however, to such Guarantor&rsquo;s right to make inquiry of the Noteholders to ascertain the amount of the Guaranteed Obligations
at any reasonable time; (iii) notice of any adverse change in the financial condition of the Company or of any other fact that might increase
such Guarantor&rsquo;s risk hereunder; (iv) presentment for payment, demand, protest, and notice thereof under the Note Purchase Agreement,
the Notes or any other Financing Documents; (v) notice of any Event of Default under any of the Financing Documents; and (vi) all other
notices (except if such notice is specifically required to be given to such Guarantor under this Note Guarantee) and demands to which
such Guarantor might otherwise be entitled.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.6</B></TD><TD><B>Reinstatement; Stay of Acceleration</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.6pt 0pt 12pt">If at any time any payment of any portion of the Guaranteed
Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned
upon the insolvency, bankruptcy or reorganization of the Company, any Guarantor or otherwise (including pursuant to any settlement entered
into by the Noteholders in their discretion), each Guarantor&rsquo;s obligations under this Note Guarantee with respect to that payment
shall be reinstated at such time as though the payment had not been made and whether or not the Noteholders are in possession of this
Note Guarantee. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy
or reorganization of the Company or any Guarantor, all such amounts otherwise subject to acceleration under the terms of any agreement
relating to the Guaranteed Obligations shall nonetheless be payable by the Guarantors forthwith on demand by the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.7</B></TD><TD><B>Information</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">Each Guarantor assumes all responsibility for being and
keeping itself informed of the Company&rsquo;s financial condition and assets, and of all other circumstances bearing upon the risk
of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Guarantor assumes and incurs
under this Note Guarantee, and agrees that none of the Noteholders shall have any duty to advise any Guarantor of information known
to it regarding those circumstances or risks.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.9</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.10</B></TD><TD><B>Liability Cumulative</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">The liability of each Guarantor under this Note Guarantee
is in addition to and shall be cumulative with all liabilities of each Guarantor to the Noteholders under the Note Purchase Agreement,
the Notes and the other Financing Documents to which such Guarantor is a party or in respect of any obligations or liabilities of the
other Guarantors, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 3 - REPRESENTATIONS AND WARRANTIES</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt">Each Guarantor represents and warrants to the Noteholders that:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.1</B></TD><TD><B>Organization; Power and Authority</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">Such Guarantor is a corporation or limited liability company,
as the case may be, duly organized, validly existing and, where applicable, in good standing in all material respects under the laws of
its jurisdiction of organization and has full corporate or limited liability company, as the case may be<B>, </B>power, authority and
capacity to own its properties and conduct its business as presently conducted and such Guarantor has the requisite power, authority and
capacity to execute, deliver and perform its obligations under this Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.2</B></TD><TD><B>Authorization, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">This Note Guarantee has been duly authorized by all necessary
action on the part of such Guarantor, and this Note Guarantee constitutes a legal, valid and binding obligation of such Guarantor enforceable
against such Guarantor in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors&rsquo; rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.3</B></TD><TD><B>Compliance with Laws, Other Instruments, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">The execution, delivery and performance by such
Guarantor of its obligations under this Note Guarantee will not (a) contravene, result in any breach of, or constitute a default
under, or result in the creation of any Lien in respect of any property of such Guarantor under, any indenture, mortgage, deed of
trust, loan, purchase or credit agreement, lease, corporate charter or by-laws or other organizational document, or any other
agreement or instrument to which such Guarantor is bound or by which such Guarantor or any of its properties may be bound or
affected, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or
ruling of any court, arbitrator or Governmental Authority having jurisdiction over such Guarantor or (c) violate any provision of
any statute or other rule or regulation of any Governmental Authority applicable to such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.4</B></TD><TD><B>Governmental Authorizations, etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Guarantor
of this Note Guarantee, including, without limitation, any such approval thereof required in connection with the obtaining of U.S. Dollars
to make payments under this Note Guarantee and the payment of such U.S. Dollars to Persons resident in the United States of America. It
is not necessary to ensure the legality, validity, enforceability or admissibility into evidence of this Note Guarantee in such Guarantor&rsquo;s
jurisdiction of organization that this Note Guarantee or any other document be filed, recorded or enrolled with any Governmental Authority,
or that any such agreement or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.5</B></TD><TD><B>Solvency</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">Upon the execution and delivery hereof, such Guarantor will
be solvent, will be able to pay its debts as they generally become due and will have capital sufficient to carry on its business.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.6</B></TD><TD><B>Ranking</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">All liabilities of such Guarantor under this Note Guarantee
constitute direct, unconditional and general obligations of such Guarantor and rank in right of payment either <I>pari passu </I>with
or senior to all other permitted unsecured unsubordinated indebtedness of such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.7</B></TD><TD><B>Taxes</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">No liability for any tax (whether income, documentary, sales,
stamp, registration, issue, capital, property, excise or otherwise), duty, levy, impost, fee, charge or withholding (each a &ldquo;<B>Tax</B>&rdquo;
and collectively &ldquo;<B>Taxes</B>&rdquo;), directly or indirectly, imposed, assessed, levied or collected by or for the account of
any Governmental Authority of or in such Guarantor&rsquo;s jurisdiction of organization or any political subdivision thereof or therein
(an &ldquo;<B>Applicable Taxing Authority</B>&rdquo;) will be incurred by such Guarantor or any Noteholder as a result of the execution
or delivery of this Note Guarantee and, based on present applicable law, no deduction or withholding in respect of Taxes imposed by or
for the account of any Applicable Taxing Authority is required to be made from any payment by such Guarantor under this Note Guarantee
except for any such withholding or deduction arising out of the conditions described in Section 5.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.9</B></TD><TD><B>Independent Determination; No Reliance</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">Such Guarantor has, independently and without reliance
upon any Noteholder and based on such documents and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Note Guarantee and any other Financing Document to which it is or may become a party, and has
established adequate procedures for continually obtaining information pertaining to, and is now and at all times will be completely
familiar with, the business, condition (financial or otherwise), operations, performance, properties and prospects of the Company
and each other Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 4 ENFORCEMENT</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.1</B></TD><TD><B>Payment on Demand</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">The obligation of each Guarantor to pay the amount of the
Guaranteed Obligations and all other amounts payable by it to the Noteholders under this Note Guarantee arises, and each Guarantor shall
make such payments, immediately after demand for same is made in writing to it by the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.2</B></TD><TD><B>Amount of Guaranteed Obligations</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">Any account settled or stated by or among the Noteholders
and the Company, or if any such account has not been settled or stated immediately before demand for payment under this Note Guarantee,
any account stated by the Noteholders shall, in the absence of mathematical error, be accepted by each Guarantor as conclusive evidence
of the amount of the Guaranteed Obligations which is due by the Company to the Noteholders or remains unpaid by the Company to the Noteholders.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.3</B></TD><TD><B>Assignment and Postponement</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.85pt">Upon the occurrence and during the continuance of an Event of Default, obligations,
liabilities and indebtedness of the Company to a Guarantor and all security therefor (the &ldquo;<B>Intercorporate Indebtedness</B>&rdquo;)
shall be held in trust for the Noteholders and shall be collected, enforced or proved subject to, and for the purpose of, this Note Guarantee
and any payments received by a Guarantor in respect of the Intercorporate Indebtedness shall be segregated from other funds and property
held by such Guarantor and immediately paid to the Noteholders on account of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.8pt">Upon the occurrence and during the continuance of an Event of Default, the Noteholders
are entitled to receive payment of the Guaranteed Obligations in full before each Guarantor is entitled to receive any payment on account
of the Intercorporate Indebtedness, including in any proceeding against any Obligated Party under any Debtor Relief Law. In such case,
the Intercorporate Indebtedness shall not be released by such Guarantor until the Noteholders&rsquo; prior written consent to such release
has been obtained. No Guarantor shall permit the prescription of the Intercorporate Indebtedness by any statute of limitations or ask
for or obtain any security interest or negotiable paper for, or other evidence of, the Intercorporate Indebtedness except for the purpose
of delivering the same to the Noteholders.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.4</B></TD><TD><B>Remedies</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.85pt 0pt 12pt; font-size: 10pt; text-align: justify">The Noteholders need not seek or exhaust their recourse
against the Company or any other Person before being entitled to (a) enforce payment and performance under this Note Guarantee against
any Guarantor, or (b) pursue any other remedy against any Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.5</B></TD><TD><B>No Prejudice to Noteholders</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.7pt 0pt 12pt">The Noteholders are not prejudiced in any way in the right
to enforce any provision of this Note Guarantee by any act or failure to act on the part of the Company or the Noteholders. The Noteholders
may, at any time and from time to time, in such manner as they may determine is expedient, without any consent of, or notice to, any Guarantor,
and without impairing or releasing the obligations of the Guarantors, (a) change the manner, place or terms of payment or change or extend
the time of payment of, or renew or alter, all or any part of, the Guaranteed Obligations, (b) amend, modify, supplement or restate the
Notes, the Note Purchase Agreement or any other instrument referred to therein, or the terms or conditions in respect of any transaction
with, the Company or any other Person, (c) release, compound or vary the liability of the Company or any other Person liable in any manner
under or in respect of the Guaranteed Obligations, (d) accept compromises or arrangements from any Person, (e) exercise or enforce or
refrain from exercising or enforcing any right against the Company or any other Person, (f) apply any sums from time to time received
to the Guaranteed Obligations or any part thereof, and change any such application in whole or in part from time to time, and (g) otherwise
deal with, or waive or modify their right to deal with, any Person. In their dealings with the Company and the Guarantors, the Noteholders
need not enquire into the authority or power of any Person purporting to act for or on behalf of the Company or any such Guarantor.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.6</B></TD><TD><B>Suspension of Guarantor Rights</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">So long as there are any Guaranteed Obligations, no Guarantor
shall exercise any rights which it may at any time have by reason of the performance of any of its obligations under this Note Guarantee
to (a) be indemnified by the Company, (b) claim contribution from any other guarantor of the debts, liabilities or obligations of the
Company, or (c) take the benefit of any rights of the Noteholders under any of the Financing Documents.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.7</B></TD><TD><B>Rights of Subrogation</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">No Guarantor will assert any right, claim or cause of action,
including, without limitation, a claim of subrogation, contribution or indemnification, that it has against any other Obligated Party
or any collateral, until the Company and the Guarantors have fully performed all their obligations to the Noteholders and the Note Purchase
Agreement has terminated.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.8</B></TD><TD><B>No Set-off by Guarantor</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.95pt 0pt 12pt">To the fullest extent permitted by applicable law, each
Guarantor shall make all payments under this Note Guarantee without regard to any defence, counter-claim or right of set-off available
to it.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.9</B></TD><TD><B>Successors of the Company</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Any change or changes in the name of or reorganization (whether
by way of reconstruction, consolidation, amalgamation, merger, transfer, sale, lease or otherwise) of the Company or its business will
not affect or in any way limit or lessen the liability of each Guarantor under this Note Guarantee. This Note Guarantee shall extend to
any Person acquiring, or from time to time carrying on, the business of the Company.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 5 - TAX INDEMNITY</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.65pt">Any and all payments under this Note Guarantee to or for the account of any Noteholder
shall be made free and clear of, and without deduction or withholding for or on account of, any Tax, except for Taxes on the net income
or capital of a Noteholder or Taxes resulting from such Noteholder changing its residency for tax purposes or to the extent such deduction
or withholding is required by applicable law. If any Tax is required by applicable law to be deducted or withheld from any such payments
by any Guarantor, such Guarantor will make such deductions or withholding and pay to the relevant taxing authority the full amount deducted
or withheld (including, without limitation, the full amount of any additional Tax required to be deducted or withheld from or otherwise
paid in respect of any payment made to any Noteholder pursuant to this Section 5(a) as provided below) before penalties attach thereto
or interest accrues thereon. In the event of the imposition by or for the account of any Applicable Taxing Authority or of any Governmental
Authority of any jurisdiction in which any Guarantor resides for tax purposes or any jurisdiction from or through which such Guarantor
is making any payment in respect of this Note Guarantee, other than any Governmental Authority of or in the United States of America or
Canada, or any political subdivision thereof or therein, of any Indemnifiable Taxes upon or with respect to any payments in respect of
this Note Guarantee, whether by withholding or otherwise, such Guarantor hereby agrees to pay forthwith from time to time in connection
with each payment on this Note Guarantee to the Noteholders such additional amounts as shall be required so that every payment received
by any Noteholder in respect of the Guaranteed Obligations and every payment received by any Noteholder under this Note Guarantee will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid to the any Noteholder
pursuant to this Section 5(a) as provided below) and any interest or penalties relating thereto, be less than the amount due and payable
to the Noteholder, as applicable, in respect of such Guaranteed Obligations or under this Note Guarantee before the assessment of such
Tax. In addition, each Guarantor shall indemnify each Noteholder for the full amount of Indemnifiable Taxes paid or required to be paid
on amounts payable pursuant to this Note Guarantee and any liability (including penalties, interest and expenses) arising therefrom, together
with such amounts as will result in the Noteholder, as applicable, receiving the amount that would otherwise have been received by it
in the absence of such Indemnifiable Taxes and the indemnification provided for herein. Except where any Guarantor is required to deduct
or withhold any Indemnifiable Tax, the Noteholders, upon becoming aware of any Noteholder&rsquo;s liability (or potential liability) for any Indemnifiable
Taxes, shall promptly notify the Guarantors of any such liability (or potential liability) for such Indemnifiable Taxes for which the
Guarantors are required to indemnify any Noteholder pursuant to this Section 5(a) and of the amount payable to it by the Guarantors pursuant
hereto, and the Guarantors shall jointly and severally pay such amounts either (i) directly to the Applicable Taxing Authority or other
relevant Governmental Authority that imposed such Indemnifiable Taxes, as the case may be, on or before the date such Indemnifiable Taxes
are due or (ii) if any Noteholder has already paid such Indemnifiable Taxes, to such Noteholder within 10 days of the receipt of such
notice and if such Indemnifiable Taxes are not paid on or before the date specified in clause (i) or within the period specified in clause
(ii), as the case may be, such amounts shall bear interest at the Default Rate thereafter. Each Noteholder shall determine the amount
payable to it, which determination shall be conclusive in the absence of mathematical error, and no Noteholder shall be required to disclose
any confidential or proprietary information in connection with such determination.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">Within 60 days after the date of any payment by any Guarantor of any Tax pursuant
to Section 5(a) in respect of any payment in respect of the Guaranteed Obligations or this Section 5, such Guarantor shall furnish to
each Noteholder the original tax receipt for the payment of such Tax (or if such original tax receipt is not available, a duly certified
copy of the original tax receipt), together with such other documentary evidence with respect to such payments as may be reasonably requested
from time to time by any Noteholder. If a Guarantor shall have determined, with respect to any Noteholder, that a deduction or withholding
of Tax is required to be made, and that no amounts are required to be paid to such Noteholder under Section 5(a) as the result of any
exemption therefrom as provided in Section 5(a), such Guarantor shall promptly inform such Noteholder, in writing, of the imposition or
withholding of such Tax and of the applicable exemption set forth in Section 5(a) that the Guarantor claims releases such Guarantor from
the obligation to pay any such amount otherwise payable under Section 5(a).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 13.9pt">The obligations of the Guarantors under this Section 5 shall survive the payment
of any of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">If any Guarantor has made a payment to or on account of any Noteholder
                                                             pursuant to Section 5(a) and such Noteholder is entitled to a refund of the Tax to which such payment is attributable from the
                                                             Governmental Authority to which the payment of the Tax was made and such refund is readily determinable by such Noteholder (such
                                                             amount to be no greater than an amount that, if paid to such Guarantor by such Noteholder, would leave such Noteholder in no worse
                                                             position than would have existed had such Tax not been required by applicable law to be paid) and can be obtained by filing one or
                                                             more Forms (so long as such Forms do not impose, in such Noteholder&rsquo;s determination, an unreasonable burden in time, resources
                                                             or otherwise on such Noteholder), then (i) such Noteholder shall, as soon as reasonably practicable after receiving a written
                                                             request therefor from such Guarantor (which request shall specify in reasonable detail
the Forms to be filed), file such Forms and (ii) upon receipt of such refund, if any, as soon as reasonably practicable pay over such
refund to such Guarantor without interest. This Section 5(d) shall not require any Noteholder (x) to account for any indirect taxation
benefits arising from the deducting or withholding of any Tax, (y) to disclose any confidential or proprietary information, or (z) to
arrange its tax or financial affairs in any particular manner.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.6pt 0pt 84pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 12pt"><B>SECTION 6 - MISCELLANEOUS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.1</B></TD><TD><B>Amendments, Etc.</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">This Note Guarantee may be amended, and the observance of
any term hereof may be waived (either retroactively or prospectively), with (and only with) the written consent of each Guarantor and
the Required Holders, except that no such amendment or waiver may, without the written consent of each Noteholder, amend any provision
of Section 2 or this Section 6.1.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.2</B></TD><TD><B>Notices</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">All notices and communications provided for hereunder shall
be in writing and sent as provided in Section 20 of the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.3</B></TD><TD><B>Venue</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.95pt 0pt 12pt">ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS NOTE
GUARANTEE AGAINST A GUARANTOR MAY BE BROUGHT IN THE COURTS OF THE PROVINCE OF ONTARIO, WHICH COURTS THE PARTIES HERETO ACKNOWLEDGE IRREVOCABLY
TO BE A CONVENIENT FORUM FOR THE RESOLUTION OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY AND EACH GUARANTOR HEREBY CONSENTS TO
THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">EACH OF THE GUARANTORS HEREBY IRREVOCABLY DESIGNATES
AND APPOINTS THE COMPANY (THE &ldquo;<B>PROCESS AGENT</B>&rdquo;) AT ITS REGISTERED OFFICE FROM TIME TO TIME, WHICH OFFICE IS
CURRENTLY LOCATED AT 1155 BAY STREET, SUITE 600, TORONTO, ONTARIO, M5R 2A9, AS THE AUTHORIZED AGENT UPON WHICH PROCESS MAY BE SERVED
IN ANY SUIT OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS NOTE GUARANTEE WHICH MAY BE INSTITUTED IN THE PROVINCE OF
ONTARIO AND AGREES THAT SERVICE OF PROCESS ON THE PROCESS AGENT TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH GUARANTOR BY
THE PERSON SERVING THE SAME SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BE DEEMED IN EVERY RESPECT TO BE EFFECTIVE SERVICE OF
PROCESS ON SUCH GUARANTOR, AS THE CASE MAY BE. HOWEVER, NOTHING IN THIS SECTION 6.3 SHALL AFFECT THE RIGHT OF ANY NOTEHOLDER TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW OR AFFECT THE RIGHT OF ANY NOTEHOLDER TO BRING ANY ACTION OR
PROCEEDING AGAINST THE COMPANY OR ANY GUARANTOR OR THEIR PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTION INCLUDING, WITHOUT
LIMITATION THE STATE OF NEW YORK.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.4</B></TD><TD><B>Judgment Currency</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">If for the purpose of obtaining judgment in any court it is necessary to convert
an amount due hereunder in the currency in which it is due (the &ldquo;<B>Original Currency</B>&rdquo;) into another currency (the &ldquo;<B>Second
Currency</B>&rdquo;), the rate of exchange applied shall be that at which, in accordance with normal banking procedures, a Noteholder
could purchase, in the Toronto foreign exchange market, the Original Currency with the Second Currency on the date 2 Business Days preceding
that on which judgment is given. Each Guarantor agrees that its obligation in respect of any Original Currency due from it to any Noteholder
hereunder shall, notwithstanding any judgment or payment in such other currency, be discharged only to the extent that, on the Business
Day following the date such Noteholder receives payment of any sum so adjudged to be due hereunder in the Second Currency such Noteholder
may, in accordance with normal banking procedures, purchase, in the Toronto foreign exchange market the Original Currency with the amount
of the Second Currency so paid; and if the amount of the Original Currency so purchased or could have been so purchased is less than the
amount originally due in the Original Currency, each Guarantor agrees as a separate obligation and notwithstanding any such payment or
judgment to indemnify such Noteholder against such loss.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">The term &ldquo;<B>rate of exchange</B>&rdquo; in this Section 6.4 means the spot
rate at which the Noteholder in accordance with normal practices is able on the relevant date to purchase the Original Currency with the
Second Currency and includes any premium and costs of exchange payable in connection with such purchase.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.5</B></TD><TD><B>Successors and Assigns</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">All covenants and other agreements of each Guarantor in
this Note Guarantee shall bind its successors (including any successor by way of amalgamation or merger) and assigns and shall enure to
the benefit of the Noteholders and their respective successors and assigns; provided, however, no Guarantor shall assign this Note Guarantee
or delegate any of its duties hereunder without the Noteholders&rsquo; prior written consent and any assignment made without such consent
shall be absolutely null and void.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.6</B></TD><TD><B>Severability</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">Any provision of this Note Guarantee that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full
extent permitted by applicable law) not invalidate or render unenforceable such provision in any other jurisdiction.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.7</B></TD><TD><B>Construction</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt">&nbsp;</P>

<P STYLE="margin: 0pt 13.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Each agreement contained herein shall be construed (absent
express provision to the contrary) as being independent of each other agreement contained herein, so that compliance with any one agreement
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other agreement. Where any provision herein
refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether
such action is taken directly or indirectly by such Person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.8</B></TD><TD><B>Expenses</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">The Guarantors shall jointly and severally pay on demand
all costs and expenses, including, without limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated
costs of in-house counsel and paralegals) and expenses paid or incurred by any Noteholder in connection with the enforcement of this Note
Guarantee or the preservation of its rights as a result of any breach by any Guarantor of its obligations hereunder and any actual or
proposed amendment, waiver or consent relating thereto (whether or not executed).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.9</B></TD><TD><B>Rights Cumulative</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">Each of the rights and remedies of the Noteholders under
this Note Guarantee shall be in addition to all of their other rights and remedies under applicable law, and nothing in this Note Guarantee
shall be construed as limiting any such rights or remedies.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.10</B></TD><TD><B>Survival of Representations and Warranties</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">All representations and warranties contained herein shall
survive the execution and delivery of this Note Guarantee, the Note Purchase Agreement and the Notes.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.11</B></TD><TD><B>No Third Party Beneficiary</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 12pt">This Note Guarantee is solely for the benefit of the Noteholders
and their successors and assigns and may not be relied on by any other Person.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.12</B></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">This Note Guarantee shall be governed by, and construed
and interpreted in accordance with, the laws of the Province of Ontario and the federal laws of Canada applicable therein, excluding choice
of law principles of the law of such province that would require the application of the laws of a jurisdiction other than such province.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.13</B></TD><TD><B>Counterparts</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">This Note Guarantee may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an
original but all such counterparts shall together constitute one and the same Note Guarantee. Delivery of an executed counterpart of
this Note Guarantee by facsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of
this Note Guarantee. Any party delivering an executed counterpart of this Note Guarantee by facsimile or electronic mail also shall
deliver an original executed counterpart of this Note Guarantee but the failure to deliver an original executed counterpart shall
not affect the validity, enforceability, and binding effect of this Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.14</B></TD><TD><B>Additional Parties</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.75pt 0pt 12pt">At any time after the date of this Note Guarantee, one or
more additional persons or entities may become parties hereto by executing and delivering to the Noteholders a counterpart of this Note
Guarantee substantially in the form attached as Schedule &ldquo;A&rdquo; hereto (each, a &ldquo;<B>Counterpart to Note Guarantee</B>&rdquo;).
Immediately upon such execution and delivery (and without any further action), each such additional person or entity will become a Guarantor
hereunder, and will be bound by all of the terms of, this Note Guarantee as if such person or entity had been an original party hereto
as a Guarantor. The addition of any additional Guarantor hereunder shall not require the consent of any other Guarantor and all of the
Guaranteed Obligations under this Note Guarantee shall remain in full force and effect notwithstanding the addition of any such additional
Guarantor to this Note Guarantee. Each reference to &ldquo;Guarantor&rdquo; (or any words of like import referring to a Guarantor) in
this Note Guarantee, the Note Purchase Agreement, the Notes or any other Financing Document shall also mean any additional person that
becomes a Guarantor hereunder after the date of this Note Guarantee; and each reference in this Note Guarantee, the Note Purchase Agreement,
the Notes or any other Financing Document to this &ldquo;Note Guarantee&rdquo; (or words of like import referring to this Note Guarantee)
shall mean this Note Guarantee as supplemented by each Counterpart to Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.15</B></TD><TD><B>Agreement to be Bound</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt">Each Guarantor hereby agrees to be bound by each and all
of the terms and provisions of the Note Purchase Agreement applicable to any Guarantor. Without limiting the generality of the foregoing,
by its execution and delivery of this Note Guarantee, each Guarantor hereby:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">(a) makes to each Noteholder each of the representations
and warranties set forth in the Note Purchase Agreement applicable to any Guarantor fully as though such Guarantor were a party thereto,
and such representations and warranties are incorporated herein by this reference, <I>mutatis mutandis</I>; and (b) agrees and covenants
(i) to do each of the things set forth in the Note Purchase Agreement that the Company agrees and covenants to cause any Guarantor to
do, and</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.65pt 0pt 12pt">(ii) to not do each of the things set forth in the Note
Purchase Agreement that the Company agrees and covenants to cause any Guarantor not to do, in each case, fully as though such Guarantor
was a party thereto, and such agreements and covenants are incorporated herein by this reference, <I>mutatis mutandis</I>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.16</B></TD><TD STYLE="text-align: justify"><B>Entire Agreement</B></TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt">This Note Guarantee and the other Financing Documents represent
the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements
of the parties. There are no unwritten oral agreements among the parties relating to the subject matter hereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-style: italic; font-weight: bold; text-align: center; margin: 0pt 66.65pt 0pt 64.7pt">[Remainder of page
intentionally left blank. Next page is signature page.]</P>

<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center"></P>

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<P STYLE="margin: 0pt 66.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 18.3pt 0pt 12pt"><B>IN WITNESS WHEREOF</B>, this Note Guarantee has been duly executed by the Guarantors
as of the day and year first above written.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Per:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: </TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 246.8pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>


<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.15pt"><B>Schedule &ldquo;A&rdquo;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 19.15pt 0pt 17.1pt"><B>FORM OF COUNTERPART TO CANADIAN GUARANTEE</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 66.65pt 0pt 64.7pt"><B>(&ldquo;[Corporation Name]&rdquo;)</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.85pt 0pt 12pt"><B>REFERENCE </B>is hereby made to: (1) that certain Note
Purchase and Private Shelf Agreement, dated September 29, 2022 (as may be amended, restated or otherwise modified and in effect from time
to time, the &ldquo;<B>Note Purchase Agreement</B>&rdquo;), among FirstService Corporation (the &ldquo;<B>Company</B>&rdquo;), PGIM, Inc.,
and each of the holders of the Notes from time to time party thereto; and (2) that certain Canadian Guarantee (as amended, restated or
otherwise modified and in effect from time to time, the &ldquo;<B>Note Guarantee</B>&rdquo;) in the form attached to the Note Purchase
Agreement as Exhibit D and dated as of [ &#9679; ].</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.8pt 0pt 12pt"><B>WHEREAS</B>, pursuant to the terms of the Note Purchase
Agreement, the undersigned (the &ldquo;<B>Guarantor</B>&rdquo;) is required to become a party to the Note Guarantee in favour of the Noteholders,
and to guarantee the performance of the Guaranteed Obligations (as defined in the Note Guarantee) to the Noteholders;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 13.9pt 0pt 12pt"><B>AND WHEREAS</B>, the undersigned is a Subsidiary of the
Company acquired or formed subsequent to the effective date of the Note Guarantee and, pursuant to the terms and conditions of the Note
Purchase Agreement and Section 6.14 of the Note Guarantee, is required to execute a counterpart to the Note Guarantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 14pt 0pt 12pt"><B>NOW THEREFORE</B>, for good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the undersigned hereby:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">acknowledges that it has recently become a &ldquo;Guarantor&rdquo; as such term
is defined in the Note Purchase Agreement,</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 13.7pt">in its capacity as Guarantor, (i) acknowledges and agrees to be bound by the terms
of the Note Guarantee, (ii) represents and warrants as to itself that the representations and warranties contained in Section 3 of the
Note Guarantee are true and correct in all material respects as of the date hereof,</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>acknowledges having read the Note Guarantee, and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 13.75pt">affirms the obligations (including the Guaranteed Obligations) imposed on it under
the Note Guarantee.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B></B></P>

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<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>EXECUTED </B>as of this  <U>__ </U>day of_________, 20<U>__</U>.</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">Authorized Signing Officer</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>exh_993.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
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<P STYLE="text-align: right; margin: 0"><B>EXHIBIT 99.3</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Execution Version</B></P></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">_______________________________________</P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>MASTER NOTE AGREEMENT</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">_______________________________________</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>Dated as of
September 29, 2022</B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>U.S.$60,000,000
4.53% Series A Guaranteed Senior Notes due September 29, 2032</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>U.S.$150,000,000
Private Shelf Facility</B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt"><FONT STYLE="text-transform: uppercase"><B>Table of Contents</B></FONT></P>

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<P STYLE="text-align: right; margin: 0pt 0; font-size: 10pt">Page</P>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">1.&nbsp;&nbsp;&nbsp;AUTHORIZATION OF NOTES.</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 6pt">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.1.&nbsp;&nbsp;&nbsp;&nbsp;Authorization of Issue of Series A Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">1.2.&nbsp;&nbsp;&nbsp;&nbsp;Authorization of Issue of Shelf Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">1.3.&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">2.&nbsp;&nbsp;&nbsp;PURCHASE AND SALE OF NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">2.1.&nbsp;&nbsp;&nbsp;&nbsp;Purchase and Sale of Series A Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">2.2.&nbsp;&nbsp;&nbsp;&nbsp;Purchase and Sale of Shelf Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">3.&nbsp;&nbsp;&nbsp;CLOSING.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">3.1.&nbsp;&nbsp;&nbsp;&nbsp;Series A Closing.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">6</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">3.2.&nbsp;&nbsp;&nbsp;&nbsp;Shelf Closings.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">4.&nbsp;&nbsp;&nbsp;CONDITIONS TO CLOSING.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">4.1.&nbsp;&nbsp;&nbsp;&nbsp;Conditions of Facility Effectiveness.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">4.2.&nbsp;&nbsp;&nbsp;&nbsp;Conditions to each Closing of the Purchase and Sale of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">5.&nbsp;&nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES OF THE COMPANY.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organization; Power and Authority.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorization, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosure.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">12</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organization and Ownership of Shares of Subsidiaries; Affiliates.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">12</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws, Other Instruments, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governmental Authorizations, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Litigation; Observance of Agreements, Statutes and Orders.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">15</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes; Foreign Taxes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">15</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.10.&nbsp;&nbsp;&nbsp;Title to Property; Leases.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.11.&nbsp;&nbsp;&nbsp;Licenses, Permits, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.12.&nbsp;&nbsp;&nbsp;Compliance with ERISA; Foreign Pension Plans.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.13.&nbsp;&nbsp;&nbsp;Offering of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">17</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.14.&nbsp;&nbsp;&nbsp;Use of Proceeds; Margin Regulations.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.15.&nbsp;&nbsp;&nbsp;Existing Indebtedness; Future Liens.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">18</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.16.&nbsp;&nbsp;&nbsp;Foreign Assets Control Regulations, Etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">19</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.17.&nbsp;&nbsp;&nbsp;Status under Certain Statutes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.18.&nbsp;&nbsp;&nbsp;Environmental Matters.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.19.&nbsp;&nbsp;&nbsp;Ranking.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.20.&nbsp;&nbsp;&nbsp;Guarantees.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.21.&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">5.22.&nbsp;&nbsp;&nbsp;Chief Executive Office.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">5.23.&nbsp;&nbsp;&nbsp;Previous Acquisitions.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">6.&nbsp;&nbsp;&nbsp;REPRESENTATIONS OF THE PURCHASERS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">22</TD></TR>
</TABLE>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt"><FONT STYLE="text-transform: uppercase"><B>Table of Contents</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt">(continued)</P>

<P STYLE="text-align: right; margin: 0pt 0; font-size: 10pt">Page</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in; width: 90%">6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase for Investment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in; width: 10%">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source of Funds.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">7.&nbsp;&nbsp;&nbsp;INFORMATION AS TO THE COMPANY.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial and Business Information.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">24</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Officer&rsquo;s Certificate.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">27</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inspection.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electronic Delivery.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">28</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">8.&nbsp;&nbsp;&nbsp;PREPAYMENT OF THE NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Required Prepayments; Maturity.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Optional Prepayments with Make-Whole Amount.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepayment in Connection with a Payment under Section 13.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">29</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offer to Prepay upon Certain Events.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">30</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notices, Etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocation of Partial Prepayments.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">33</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturity; Surrender, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">8.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">8.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Make-Whole Amount.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">34</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">9.&nbsp;&nbsp;&nbsp;AFFIRMATIVE COVENANTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Properties.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">36</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of Taxes and Claims.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Existence, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ranking.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional Guarantors.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">37</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Release of Guarantees, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">38</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">9.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Most Favored Lender.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">9.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rating on the Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">39</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">10.&nbsp;&nbsp;&nbsp;NEGATIVE COVENANTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transactions with Affiliates.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger, Consolidation, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">40</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">42</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage Ratio.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Coverage Ratio.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsidiary Indebtedness.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">44</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Priority Debt.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disposition of Assets.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">45</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.10.&nbsp;&nbsp;&nbsp;Terrorism Sanction Regulations.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">46</TD></TR>
</TABLE>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt"><FONT STYLE="text-transform: uppercase"><B>Table of Contents</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt">(continued)</P>

<P STYLE="text-align: right; margin: 0pt 0; font-size: 10pt">Page</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in; width: 90%">10.11.&nbsp;&nbsp;&nbsp;Line of Business.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in; width: 10%">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.12.&nbsp;&nbsp;&nbsp;Restricted Payments.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.13.&nbsp;&nbsp;&nbsp;Acquisitions.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">47</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">10.14.&nbsp;&nbsp;&nbsp;Amendments to Call Options.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">10.15.&nbsp;&nbsp;&nbsp;Canadian Pension Plans.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">11.&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">48</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">12.&nbsp;&nbsp;&nbsp;REMEDIES ON DEFAULT, ETC.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.1.&nbsp;&nbsp;&nbsp;Acceleration.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">51</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.2.&nbsp;&nbsp;&nbsp;Other Remedies.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">12.3.&nbsp;&nbsp;&nbsp;Rescission.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">52</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">12.4.&nbsp;&nbsp;&nbsp;No Waivers or Election of Remedies, Expenses, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">53</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">13.&nbsp;&nbsp;&nbsp;TAX INDEMNIFICATION.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">53</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">14.&nbsp;&nbsp;&nbsp;[RESERVED].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">15.&nbsp;&nbsp;&nbsp;REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">15.1.&nbsp;&nbsp;&nbsp;Registration of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">15.2.&nbsp;&nbsp;&nbsp;Transfer and Exchange of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">15.3.&nbsp;&nbsp;&nbsp;Replacement of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">56</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">16.&nbsp;&nbsp;&nbsp;PAYMENTS ON NOTES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">16.1.&nbsp;&nbsp;&nbsp;Place of Payment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">16.2.&nbsp;&nbsp;&nbsp;Home Office Payment.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">57</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">17.&nbsp;&nbsp;&nbsp;EXPENSES, ETC.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">17.1.&nbsp;&nbsp;&nbsp;Transaction Expenses.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">17.2.&nbsp;&nbsp;&nbsp;Taxes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">17.3.&nbsp;&nbsp;&nbsp;Survival.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">58</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">18.&nbsp;&nbsp;&nbsp;SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">19.&nbsp;&nbsp;&nbsp;AMENDMENT AND WAIVER.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.1.&nbsp;&nbsp;&nbsp;Requirements.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">59</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.2.&nbsp;&nbsp;&nbsp;Solicitation of Holders of Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">19.3.&nbsp;&nbsp;&nbsp;Binding Effect, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">19.4.&nbsp;&nbsp;&nbsp;Notes held by the Company, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">60</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">20.&nbsp;&nbsp;&nbsp;NOTICES.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">21.&nbsp;&nbsp;&nbsp;REPRODUCTION OF DOCUMENTS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">61</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">22.&nbsp;&nbsp;&nbsp;CONFIDENTIAL INFORMATION.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">62</TD></TR>
</TABLE>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt"><FONT STYLE="text-transform: uppercase"><B>Table of Contents</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 5.75pt">(continued)</P>

<P STYLE="text-align: right; margin: 0pt 0; font-size: 10pt">Page</P>

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    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in; width: 90%">23.&nbsp;&nbsp;&nbsp;[RESERVED].</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt; width: 10%">63</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">24.&nbsp;&nbsp;&nbsp;JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">63</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">25.&nbsp;&nbsp;&nbsp;OBLIGATION TO MAKE PAYMENTS IN U.S. DOLLARS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 0.5in">26.&nbsp;&nbsp;&nbsp;MISCELLANEOUS.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.1.&nbsp;&nbsp;&nbsp;Successors and Assigns.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">64</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.2.&nbsp;&nbsp;&nbsp;Payments Due on Non-Business Days.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.3.&nbsp;&nbsp;&nbsp;Severability.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.4.&nbsp;&nbsp;&nbsp;Construction.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">65</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.5.&nbsp;&nbsp;&nbsp;Statement of Interest Rate.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.6.&nbsp;&nbsp;&nbsp;Counterparts.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.7.&nbsp;&nbsp;&nbsp;Governing Law.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0in; padding-left: 1in">26.8.&nbsp;&nbsp;&nbsp;Accounting Terms.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">66</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 6pt; padding-left: 1in">26.9.&nbsp;&nbsp;&nbsp;Transaction References.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt">67</TD></TR>
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<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><U>Schedules and Exhibits</U></P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%; text-align: left; text-indent: 0in">Schedule A</TD>
    <TD STYLE="width: 5%; text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="width: 74%; text-align: left; text-indent: 0in">Information Relating to Series A Purchasers</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule B</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Defined Terms</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule C</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Unrestricted Entities</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.3</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Disclosure Materials</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(a)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Subsidiaries and Ownership of Subsidiary Stock</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(b)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Company Organizational Chart</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(c)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Directors and Senior Officers</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.4(d)</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Restrictive Agreements</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.5</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Financial Statements</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.8</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Certain Litigation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.11</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Licenses, Permits, etc.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Schedule 5.15</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Existing Indebtedness/Liens</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: center; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit A-1</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of 4.53% Series A Guaranteed Senior Note due September 29, 2032</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit A-2</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Shelf Note</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit B</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Request for Purchase</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit C</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Confirmation of Acceptance</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">Exhibit D</TD>
    <TD STYLE="text-align: center; text-indent: 0in">--</TD>
    <TD STYLE="text-align: left; text-indent: 0in">Form of Guarantee</TD></TR>
  </TABLE>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">1155 Bay Street, Suite 600</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">Toronto, Ontario</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">Canada M5R 2A9</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>4.53% Series A Guaranteed Senior Notes due September
29, 2032</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>U.S.$150,000,000 Private Shelf Facility</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">As of September 29, 2022</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">To each of the Purchasers of Series A Notes listed on</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><U>Schedule A</U> hereto (each, a &ldquo;<B>Series A Purchaser</B>&rdquo;)</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">To NYL Investors LLC (&ldquo;<B>New York Life</B>&rdquo;)</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">51 Madison Avenue, 2nd Floor Room 208</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">New York, NY 10010-1603, United States of America</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Attention: Private Capital Investors, Private Finance<BR>
<BR>
</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">To each New York Life Affiliate (as hereinafter defined)</P>

<P STYLE="font-size: 10pt; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in">that is or becomes party to this Agreement as hereinafter provided</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">(together with the Series A Purchasers, each a &ldquo;<B>Purchaser</B>&rdquo;
and</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">collectively, the &ldquo;<B>Purchasers</B>&rdquo;)</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B>, a company incorporated
under the laws of Ontario, Canada (or any successor thereto that shall have become such in the manner prescribed in Section 10.2, the
<B>&ldquo;Company&rdquo;</B>), agrees with New York Life and each of the Purchasers as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">AUTHORIZATION OF NOTES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization of Issue of Series A Notes.</B> <FONT STYLE="font-size: 10pt">The Company will authorize the issue and sale of its
4.53% Series A Guaranteed Senior Notes due September 29, 2032 in aggregate principal amount of U.S.$60,000,000 (together with any notes
issued in substitution, replacement or exchange therefor pursuant to Section 15, the &ldquo;<B>Series A Notes</B>&rdquo;) to be issued
at the Series A Closing. The Series A Notes shall be substantially in the form of <U>Exhibit A-1</U> hereto.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization of Issue of Shelf Notes.</B> The Company may, from time to time and in accordance with the terms of this Agreement,
authorize the issue of senior promissory notes (as amended, restated or otherwise modified from time to time pursuant to Section 19 and
including any such notes delivered in substitution or exchange therefor pursuant to this Agreement, the &ldquo;<B>Shelf Notes</B>&rdquo;)
in an aggregate outstanding principal amount not to exceed U.S.$150,000,000 at any time (subject to the Available Facility Amount), each
to be dated the date of its issue, bearing interest on the unpaid balance from the date of original issuance at the rate per annum as
provided by the terms of this Agreement, to mature no later than 12 years after the date of original issuance and to have an Average Life
of no more than 12 years after the date of original issuance. Each Note will also be subject to the other terms of that Note as described
in the Confirmation of Acceptance for such Note delivered pursuant to Section 2.2(f). Each Note will be substantially in the form of <U>Exhibit
A-2</U> attached hereto. Notes which have (i) the same final maturity, (ii) the same principal prepayment dates, (iii) the same principal
prepayment amounts (as a percentage of the original principal amount of each Note), (iv) the same interest rate, (v) the same interest
payment periods and (vi) the same date of issuance (which, in the case of a Note issued in exchange for another Note, shall be deemed
for these purposes the date on which such Note&rsquo;s ultimate predecessor Note was issued), are herein called a &ldquo;<B>Series</B>&rdquo;
of Notes. The terms &ldquo;<B>Note</B>&rdquo; and &ldquo;<B>Notes</B>&rdquo; as used herein shall include each Series A Note and each
Shelf Note delivered pursuant to any provision of this Agreement and each Note delivered in substitution, replacement or exchange for
any such Note pursuant to any such provision, as such Notes are amended, restated or otherwise modified from time to time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>1.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Defined Terms.</B> Certain capitalized terms used in this Agreement are defined in Schedule B hereto and, for purposes of this
Agreement, the rules of construction set forth in Section 26.4 shall govern; references to a &ldquo;Schedule&rdquo; or an &ldquo;Exhibit&rdquo;
are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">PURCHASE AND SALE OF NOTES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase and Sale of Series A Notes.</B> <FONT STYLE="font-size: 10pt">Subject to the terms and conditions of this Agreement, the
Company will issue and sell to each Series A Purchaser, and each Series A Purchaser will purchase from the Company, at the Closing provided
for in Section 3.1, Series A Notes in the principal amount specified opposite such Series A Purchaser&rsquo;s name in <U>Schedule A</U>
at the purchase price of 100% of the principal amount thereof. The Series A Purchasers&rsquo; obligations hereunder are several and not
joint obligations and no Series A Purchaser shall have any liability to any Person for the performance or non-performance of any obligation
by any other Purchaser hereunder.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase and Sale of Shelf Notes.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Facility</B>. New York Life is willing to consider, from time to time, in its sole discretion and within limits that may be
authorized for purchase by New York Life and New York Life Affiliates, the purchase of Shelf Notes pursuant to this Agreement. The willingness
of New York Life to consider such purchase of Shelf Notes is the &ldquo;<B>Facility</B>&rdquo;. At any time, the aggregate principal amount
of Shelf Notes stated in Section 1.2, minus the aggregate principal amount of Notes purchased and sold pursuant to this Agreement (including,
without limitation, the Series A Notes) prior to such time and outstanding at such time, minus the aggregate principal amount of the 2015
NYL Notes outstanding at such time, minus the aggregate principal amount of Accepted Notes (as defined in Section 2.2(f)) which have not
yet been purchased and sold hereunder prior to such time, is herein called the &ldquo;<B>Available Facility Amount</B>&rdquo; at such
time. The Available Facility Amount shall be increased from time to time by the principal amount of any Series A Notes, 2015 NYL Notes
or other outstanding Series of Shelf Notes which is repaid or prepaid prior to the expiration of the Issuance Period. After giving effect
to the issuance and sale of the Series A Notes on the Series A Closing Day, the Available Facility Amount as of the Series A Closing Day
will be U.S.$45,000,000. NOTWITHSTANDING THE WILLINGNESS OF NEW YORK LIFE TO CONSIDER PURCHASES OF SHELF NOTES BY NEW YORK LIFE OR NEW
YORK LIFE AFFILIATES, THIS AGREEMENT IS ENTERED INTO ON THE EXPRESS UNDERSTANDING THAT NEITHER NEW YORK LIFE NOR ANY NEW YORK LIFE AFFILIATE
WILL BE OBLIGATED TO MAKE OR ACCEPT OFFERS TO PURCHASE SHELF NOTES, OR TO QUOTE RATES, SPREADS OR OTHER TERMS WITH RESPECT TO SPECIFIC
PURCHASES OF SHELF NOTES, AND THE FACILITY IS NOT TO BE CONSTRUED AS A COMMITMENT BY NEW YORK LIFE OR ANY NEW YORK LIFE AFFILIATE.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Issuance Period</B>. Shelf Notes may be issued and sold pursuant to this Agreement until the earliest of:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the third anniversary of the date of this Agreement (or if such anniversary is not a Business Day, the Business Day next preceding
that anniversary);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the day New York Life gives to the Company, or the Company gives to New York Life, written notice stating that it elects to terminate
the issuance and sale of Shelf Notes pursuant to this Agreement (or if such day is not a Business Day, the Business Day next preceding
such day);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the termination of the Facility under Section 12.1 of this Agreement; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the acceleration of any Note under Section 12.1(a) of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">The period during which Shelf Notes may be issued and
sold pursuant to this Agreement is herein called the &ldquo;<B>Issuance Period</B>.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Periodic Spread Information</B>. On any Business Day during the Issuance Period and when an Available Facility Amount exists,
the Company may request by e-mail or telephone to New York Life, and New York Life will, to the extent reasonably practicable, provide
to the Company on that Business Day (if such request is received not later than 9:30 a.m.) or on the following Business Day (if such request
is received after 9:30 a.m.) information by e-mail or telephone with respect to various spreads at which New York Life and New York Life
Affiliates might be interested in purchasing Shelf Notes of different average lives. The Company, however, will not make such a request
more frequently than once in every five Business Days or such other period as mutually agreed to in writing by the Company and New York
Life. The amount and content of information to be provided is in the sole discretion of New York Life, but it is the intent of New York
Life to provide information that will be of use to the Company in determining whether to submit a Request for Purchase under Section 2.2(d).
The delivery of the information requested is not an offer to purchase Shelf Notes, and neither New York Life nor any New York Life Affiliate
is obligated to purchase Shelf Notes at the spreads specified. New York Life may suspend or terminate providing information pursuant to
this Section 2.2(c) for any reason in its sole discretion, including its determination that the credit quality of the Company has declined
since the date of this Agreement or in the event of a Market Disruption.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Request for Purchase</B>. The Company may from time to time during the Issuance Period make requests for purchases of Shelf
Notes (each such request being herein called a &ldquo;<B>Request for Purchase</B>&rdquo;). Each Request for Purchase shall be made to
New York Life by e-mail (with .pdf attachment) or overnight delivery service, and shall:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify the aggregate principal amount of Shelf Notes covered by the Request for Purchase, which shall not be less than U.S.$10,000,000
and not be greater than the Available Facility Amount at the time such Request for Purchase is made;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify the principal amounts, final maturities (which shall be no more than 12 years from the date of issuance), Average Life
(which shall be no more than 12 years from the date of issuance) and principal prepayment dates and amounts (if any) of the Shelf Notes
covered by the Request for Purchase;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify interest payment periods (which may be quarterly or semi-annually in arrears);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify the use or uses of proceeds of such Shelf Notes;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>contain an undertaking that such proceeds will not be used for a Hostile Tender Offer;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>specify the proposed Closing Date for such Shelf Notes, which will be a Business Day during the Issuance Period not less than 10
Business Days and not more than 20 Business Days (or as otherwise agreed) after the making of that Request for Purchase;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>certify that the representations and warranties contained in Section 5 (as may be updated by the Company pursuant to such Request
for Purchase) are true on and as of the date of such Request for Purchase and that there exists on that same date no Default or Event
of Default; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(viii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>be substantially in the form of the attached <U>Exhibit B</U>, with such changes therefrom, if any, as may be approved by New York
Life and the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Each Request for Purchase must be in writing signed by
the Company and will be deemed made on the same Business Day as the email required pursuant to this Section 2.2(d) has been sent by the
Company to New York Life and if such day of sending is not a Business Day, then on the next following Business Day.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Spread Quotes</B>. Not later than five New York Business Days (provided New York Life is also open for business on each such
day) after New York Life receives a Request for Purchase pursuant to Section 2.2(d), New York Life may, but is under no obligation to,
provide to the Company by telephone or e-mail, in each case between 9:30 a.m. and 1:30 p.m. (or such later time as New York Life may elect)
quotes for interest rate spreads for the several principal amounts, maturities, principal prepayment schedules, and interest payment periods
of Shelf Notes specified in that Request for Purchase (each such interest rate quote provided in response to a Request for Purchase herein
called a &ldquo;<B>Quotation</B>&rdquo;). Spreads quoted shall be equal to the spreads over U.S. Treasury securities closest to the maturities
specified in the Request for Purchase or an interpolated maturity. Each Quotation will represent the interest rate spread per annum at
which New York Life or a New York Life Affiliate would be willing to purchase such Shelf Notes at 100% of the principal amount thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Acceptance</B>. By 11 a.m. on the next Business Day after New York Life provides interest rate spread Quotations pursuant to
Section 2.2(e) or such shorter period as New York Life may specify to the Company (such period, the &ldquo;<B>Acceptance Window</B>&rdquo;),
the Company may, subject to Section 2.2(g), elect to accept those Quotations as to not less than U.S.$10,000,000 aggregate principal amount
of the Shelf Notes specified in the related Request for Purchase. Such election must be made by a Responsible Officer of the Company notifying
New York Life by telephone or e-mail within the Acceptance Window that the Company elects to accept a spread quote, specifying the Shelf
Notes (each such Shelf Note being an &ldquo;<B>Accepted Note</B>&rdquo;, and collectively, the &quot;<B>Accepted Notes</B>&quot;) as to
which such acceptance (the &ldquo;<B>Acceptance</B>&rdquo;) relates. By the close of business on the day of such Acceptance or as mutually
agreed between such parties, the Company and New York Life shall agree on the interest rate for the Accepted Notes based on such spread
quote. The day an interest rate is agreed with respect to any Accepted Notes is the &ldquo;<B>Acceptance Day</B>&rdquo; for such Accepted
Notes. Any Quotations as to which New York Life does not receive an Acceptance within the Acceptance Window or which do not result in
an agreement as to an interest rate will expire, and no purchase or sale of Shelf Notes will be made based on those expired Quotations.
Subject to Section 2.2(g) and the other terms and conditions of this Agreement, the Company will sell to New York Life or a New York Life
Affiliate, and New York Life or a New York Life Affiliate will purchase the Accepted Notes at 100% of the principal amount of those Accepted
Notes. Within three Business Days following the Acceptance Day, New York Life will deliver to the Company a confirmation of the Acceptance
substantially in the form of <U>Exhibit C</U> executed by each New York Life Affiliate which is to purchase any such Accepted Notes (the
&ldquo;<B>Confirmation of Acceptance</B>&rdquo;). If the Company does not execute and deliver such Confirmation of Acceptance within four
Business Days following the Acceptance Day, New York Life or any New York Life Affiliate may, at its election, cancel the purchase and
sale with respect to those Accepted Notes by notifying the Company in writing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Market Disruption</B>. Notwithstanding any other provision of this Agreement, if New York Life provides Quotations pursuant
to Section 2.2(e), and a Market Disruption occurs prior to agreement of the interest rate for Accepted Notes in accordance with Section
2.2(f), then such Quotations will expire, and no purchase or sale of Shelf Notes will be made based on those expired Quotations. If after
the occurrence of any such Market Disruption the Company notifies New York Life of the Acceptance of such Quotations, such Acceptance
will be ineffective for all purposes of this Agreement, and New York Life will promptly notify the Company that the provisions of this
Section 2.2(g) are applicable with respect to such Acceptance. &ldquo;<B>Market Disruption</B>&rdquo; means the occurrence of any of the
following: (i) the domestic market for U.S. Treasury securities or other financial instruments has closed, or (ii) a general suspension,
material limitation, or significant disruption of trading in United States securities generally on the New York Stock Exchange or in the
domestic market for U.S. Treasury securities or other financial instruments.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Facility Closings</B>. Not later than 11:30 a.m. on the Closing Date for any Accepted Notes, the Company will deliver to each
Purchaser listed in the Confirmation of Acceptance relating thereto, the Accepted Notes to be purchased by such Purchaser in the form
of one or more Notes in authorized denominations as such Purchaser may request. The Accepted Notes will be dated the Closing Date and
registered in the Purchaser&rsquo;s name (or in the name of its nominee), delivered against payment of the purchase price thereof by transfer
of immediately available funds. If the Company fails to tender an Accepted Note prior to 11:30 a.m. on the scheduled Closing Date for
those Accepted Notes or on such other Business Day thereafter during the Issuance Period as may be agreed upon by the Company and New
York Life or any of the conditions specified in Section 4 are not fulfilled by such time, New York Life and each Purchaser may cancel
such purchase and sale, without waiving any rights that New York Life or such Purchaser may have by reason of such failure or non-fulfillment,
including any right pursuant to Section 17.1 to require payment of transaction expenses by the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>[Reserved.]</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">CLOSING.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Series A Closing.</B> <FONT STYLE="font-size: 10pt">The sale and purchase of the Series A Notes to be purchased by each Series
A Purchaser shall occur at the offices of Akin Gump Strauss Hauer &amp; Feld LLP, One Bryant Park, New York, NY 10036-6745 at a closing
(the &ldquo;<B>Series A Closing</B>&rdquo;) to occur at 12:00 p.m. on September 29, 2022 or such other Business Day thereafter on or prior
to October 4, 2022 as may be agreed upon by the Company and the Series A Purchasers (the day of the Series A Closing hereinafter referred
to as the &ldquo;<B>Series A Closing Day</B>&rdquo;). At the Series A Closing, the Company will deliver to each Series A Purchaser the
Series A Notes to be purchased by such Series A Purchaser in the form of a single Series A Note (or such greater number of Series A Notes
in minimum denominations of at least U.S.$1,000,000 as such Series A Purchaser may request), dated the Series A Closing Day and registered
in such Series A Purchaser&rsquo;s name (or in the name of its nominee), against delivery by such Series A Purchaser to the Company or
its order of immediately available funds in the amount of the purchase price therefor by wire transfer to the account of the Company set
forth in the Funding Instruction Letter delivered in connection with the Series A Closing. If at the Series A Closing the Company shall
fail to tender such Series A Notes to any Series A Purchaser as provided above in this Section 3.1, or any of the conditions specified
in Section 4 shall not have been fulfilled to the satisfaction of any Series A Purchaser, such Series A Purchaser shall, at its election,
be relieved of all further obligations under this Agreement, without thereby waiving any rights such Series A Purchaser may have by reason
of such failure by the Company to tender such Notes or any of the conditions specified in Section 4 not having been fulfilled to such
Purchaser&rsquo;s satisfaction. The Series A Closing and each Shelf Closing are hereafter sometimes referred to as a &ldquo;<B>Closing</B>&rdquo;.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>3.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Shelf Closings.</B> The closing of the sale and purchase of any Series of Shelf Notes to be purchased by the Purchasers shall occur
at the offices of Akin Gump Strauss Hauer &amp; Feld LLP, One Bryant Park, New York, NY 10036-6745 (or such other place as designated
by New York Life) no later than 11:30 a.m. at a closing (a &ldquo;<B>Shelf Closing</B>&rdquo;) on the Closing Date specified for such
sale and purchase in the Confirmation of Acceptance delivered by the Purchasers in connection with such Series. At such Shelf Closing,
the Company will deliver to each Purchaser the Notes of the Series to be purchased by such Purchaser in the form of a single Note of such
Series (or such greater number of such Notes in denominations of at least U.S.$100,000, as the Purchasers may request), dated the Closing
Date and registered in such Purchaser&rsquo;s name (or in the name of such Purchaser&rsquo;s nominee), as indicated in the applicable
Confirmation of Acceptance, against delivery by such Purchaser to the Company or its order of immediately available funds in the amount
of the purchase price therefor as directed by the Company in the applicable Funding Instruction Letter delivered to such Purchaser with
respect to such Shelf Notes pursuant to Section 4.2(m) hereof. The obligation of each Purchaser to purchase the Shelf Notes to be sold
to it on any Closing Date is subject to the satisfaction, on or before each such Closing Date, of the conditions set forth in Section
4 below. If, on such Closing Date, the Company fails to tender to the Purchasers the Notes to be acquired by such Purchasers on such Closing
Date, or if the conditions specified in Section 4 have not been fulfilled to each Purchaser&rsquo;s satisfaction, such Purchaser shall,
at its election, be relieved of all further obligations under this Agreement without thereby waiving any rights each such Purchaser may
have by reason of such failure or such nonfulfillment.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">CONDITIONS TO CLOSING.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions of Facility Effectiveness.</B> The obligation of New York Life and the Series A Purchasers to enter into this Agreement
and the obligation of New York Life to make the Facility available to the Company is subject to the satisfaction, on or before the date
hereof, of the following conditions:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U>. The representations and warranties of the Company and the Guarantors in each Financing Document
shall be correct when made and as of the date of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance; No Default</U>. The Company and each of the Guarantors shall have performed and complied with all agreements and
conditions contained in each Financing Document required to be performed or complied with by the Company or such Guarantor prior to or
as of the date of this Agreement. No Default or Event of Default shall have occurred and be continuing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Changes in Corporate Structure</U>. The Company shall not have changed its jurisdiction of incorporation or formation (as applicable)
or been a party to any amalgamation, merger or consolidation or shall have succeeded to all or any substantial part of the liabilities
of any other entity, at any time following the date of the most recent financial statements referred to in <U>Schedule 5.5</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>This Agreement</U>. This Agreement shall have been duly executed and delivered by each of the parties hereto and thereto and
shall be in full force and effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Credit Agreement</U>. The Company shall have delivered to New York Life copies of the Credit Agreement (including all amendments
thereto) and each of the other principal instruments and agreements executed and/or delivered in connection therewith, in each case, certified
as true and correct by a Responsible Officer.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>2015 Note Purchase Agreement</U>. The Company shall have delivered to New York Life copies of the 2015 Note Purchase Agreement
(including all amendments thereto) and each of the other principal instruments and agreements executed and/or delivered in connection
therewith, in each case, certified as true and correct by a Responsible Officer.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>2022 Prudential Shelf Agreement</U>. The Company shall have delivered to New York Life copies of the 2022 Prudential Shelf Agreement
(including all amendments thereto) and each of the other principal instruments and agreements executed and/or delivered in connection
therewith, in each case, certified as true and correct by a Responsible Officer.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">4.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions to each Closing of the Purchase and Sale of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The obligation of the Series A Purchasers to purchase
the Series A Notes and the obligation of each Purchaser to purchase and pay for any Series of Accepted Notes is subject, in each case,
to the satisfaction of the following conditions set forth in this Section 4.2 on or before the applicable Closing Date for such Notes:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U>. The representations and warranties of the Company and the Guarantors in each Financing Document
shall be correct when made and at such Closing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance; No Default</U>. The Company and each of the Guarantors shall have performed and complied with all agreements and
conditions contained in each Financing Document required to be performed or complied with by the Company or such Guarantor prior to or
at such Closing. No Default or Event of Default shall have occurred and be continuing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notes</U>. Contemporaneously with (i) the Series A Closing, the Company shall sell to each Series A Purchaser and each Series
A Purchaser shall purchase the Series A Notes to be purchased by it at the Series A Closing as specified in <U>Schedule A</U> hereto,
and (ii) each Shelf Closing, the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Shelf Notes to
be purchased by it at such Closing as specified in the Confirmation of Acceptance with respect to such Shelf Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Private Placement Number</U>. A Private Placement Number issued by the PPN CUSIP Unit of CUSIP Global Services (in cooperation
with the SVO) shall have been obtained for each Series of Notes to be issued on such Closing Date.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Guarantees; Confirmation of Guarantees</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With respect to the Series A Closing, such Purchaser shall have received a true and complete copy of each Guarantee, duly executed
and delivered by the relevant Guarantors identified in <U>Schedule 5.4(a)</U>, and each Guarantee shall be in full force and effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With respect to each Shelf Closing, such Purchaser shall have received a confirmation and reaffirmation of guarantee, dated as
of such Closing Date, from each Guarantor with respect to each of the then existing Guarantees, in form and substance satisfactory to
such Purchaser, with respect to the Notes being issued on such Closing Date (each, a &ldquo;<B>Confirmation of Guarantee</B>&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Purchase Permitted by Applicable Law, Etc</U>. The purchase of and payment for the Notes to be purchased by such Purchaser on
such Closing Date on the terms and conditions herein provided (including the use of the proceeds of such Notes issued on such Closing
Date) shall (i) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to
provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction
as to the character of the particular investment, (ii) not violate any applicable law or regulation (including, without limitation, Regulation
T, U or X of the Board of Governors of the Federal Reserve System) and (iii) not subject any Purchaser to any tax, penalty, liability
or other onerous condition under or pursuant to any applicable law or regulation and such Purchaser shall have received such certificates
or other evidence as it may request to establish compliance with this condition.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance Certificates</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Closing Certificate</I>. The Company shall have delivered to such Purchaser an Officer&rsquo;s Certificate, dated such Closing
Date, certifying that the conditions specified in Section 4.2(a), Section 4.2(b) and, solely with respect to the Series A Closing, Section
4.1(c) have been fulfilled.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&rsquo;s Certificate</I>. The Company and each Guarantor shall have delivered to such Purchaser an Officer&rsquo;s Certificate,
dated such Closing Date, certifying as to (A) the resolutions attached thereto and other corporate or other (as applicable) proceedings
relating to the authorization, execution and delivery of each Financing Document to which the Company or such Guarantor is a party and
the issuance and sale of the Notes to be issued at such Closing, (B) its organizational documents as then in effect and (C) the names,
offices and specimen signatures of the officers of the Company and each Guarantor executing documents; <U>provided</U> that on any Closing
Date after the Series A Closing Day with respect to clause (B) above, such Officer&rsquo;s Certificate may specify there have been no
changes in such organizational documents since the Series A Closing Day or any prior Closing Date thereafter on which such documents were
delivered.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Certificates of Legal Existence</I>. The Company shall have delivered a certificate of status or another certificate of good
standing or legal existence, as applicable, with respect to the Company and each Guarantor from the appropriate Governmental Authority
of its jurisdiction of organization dated within 10 days of such Closing Date.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Opinions of Counsel</U>. Such Purchaser shall have received customary opinions in form and substance reasonably satisfactory
to such Purchaser, dated the date of such Closing (i) from (A)&nbsp;Fox Rothschild LLP, U.S. counsel for the Company and the Guarantors,
(B)&nbsp;Fogler Rubinoff, LLP, Canadian counsel for the Company and the Guarantors and (C) local counsel for the Company and the Guarantors
in applicable jurisdictions (which counsel shall be reasonably acceptable to the Purchasers); and (ii)&nbsp;from Akin Gump Strauss Hauer
&amp; Feld LLP, special U.S. counsel to the Purchasers, or other counsel selected by New York Life, covering such matters relating to
such transactions as the Purchasers may reasonably request.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Evidence of Consent to Receive Service of Process</U>. Such Purchaser shall have received, in form and substance satisfactory
to such Purchaser, written evidence of the consent of Corporation Service Company, located at 19 West 44th Street, Suite 200, New York,
NY 10036, to the appointment and designation provided for by Section 24 hereof for the period from the Series A Closing Day through the
date that is the first anniversary of the latest Maturity Date of the Notes then outstanding or to be issued on such Closing Date (and
the payment in full of all fees in respect thereof).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Debt Rating</U>. With respect to such Closing (other than the Closing for the Series A Notes), the Company shall have delivered,
or caused to be delivered, to each Purchaser, (i) a Private Rating Letter issued by an Acceptable Rating Agency setting forth the initial
Debt Rating for each Series of Notes to be issued at such Closing and each other Series of Notes then outstanding, and (ii) the related
Private Rating Rationale Report with respect to such Debt Rating.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of New York Life Fees</U>. The Company shall have paid to New York Life any fees due it pursuant to or in connection
with this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Special Counsel Fees, etc</U>. Without limiting the provisions of Section 17.1, the Company shall have paid on or
before such Closing Date any fees due and owing and the reasonable fees, charges and disbursements of Akin Gump Strauss Hauer &amp; Feld
LLP, as special U.S. counsel to the Purchasers, to the extent reflected in a statement of such counsel rendered to the Company at least
one Business Day prior to such Closing Date. In addition, all taxes due in connection with the preparation, execution, delivery, filing,
recordation, registration and notarization of any Financing Document or any document furnished under or in connection with any Financing
Document shall have been paid in full by the Company and such Purchaser shall have received evidence thereof reasonably satisfactory to
such Purchaser.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Funding Instruction Letter</U>. At least five (5) Business Days prior to such Closing Date, such Purchaser shall have received
a funding instruction letter signed by a Responsible Officer on letterhead of the Company confirming the Company&rsquo;s account information
with respect to the funding of the purchase price for the Notes (the &ldquo;<B>Funding Instruction Letter</B>&rdquo;), which letter shall
include (i) the name and address of the transferee bank, (ii) such transferee bank&rsquo;s ABA number/Swift Code/IBAN, (iii) the account
name and number into which the purchase price for such Notes is to be deposited and (iv) the telephone number and email address of a contact
at the Company and the bank who can confirm the account details set out in such letter.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Proceedings and Documents</U>. All corporate and other proceedings in connection with the transactions contemplated by the Financing
Documents and all documents and instruments incident to such transactions shall be satisfactory to such Purchaser and the Purchasers&rsquo;
special counsel, and such Purchaser and such special counsel shall have received all such counterpart originals or certified or other
copies of such documents as such Purchaser or such special counsel may reasonably request.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">REPRESENTATIONS AND WARRANTIES OF THE COMPANY.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company represents and warrants to each Purchaser
that:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Organization; Power and Authority.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company is a corporation duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation and,
if applicable, is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. The Company has the corporate power and authority to own or hold under lease the properties it purports
to own or hold under lease, to transact the business it transacts and proposes to transact as described in the Disclosure Documents, to
execute and deliver this Agreement, the Notes and each other Financing Document to which the Company is a party, and to perform the provisions
hereof and thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Agreement, the Notes and each other Financing
Document to which the Company is a party have been duly authorized by all necessary corporate action on the part of the Company, and this
Agreement constitutes and, upon execution and delivery thereof, each Note will constitute, legal, valid and binding obligations of the
Company enforceable against the Company in accordance with their respective terms, except, in each case, as such enforceability may be
limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors&rsquo;
rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Disclosure.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company has delivered to each Purchaser a copy
of its Annual Report on Form 40-F for the fiscal year ended December 31, 2021 (the &ldquo;<B>Annual Report</B>&rdquo;) as filed with the
SEC. The Annual Report fairly describes, in all material respects, the general nature of the business and principal properties of the
Company and its Subsidiaries as of the date of this Agreement. Except as disclosed in <U>Schedule 5.3</U>, this Agreement, the other Financing
Documents, the Annual Report (or in the case of any Series of Shelf Notes, the Company&rsquo;s most recent Annual Report on Form 40-F
which has been filed with the SEC prior to the time New York Life provided the Quotation to the Company pursuant to Section 2.2(e) with
respect to such Series of Shelf Notes), the documents, certificates or other writings delivered to New York Life and the applicable Purchasers
by or on behalf of the Company prior to August 9, 2022, in the case of the Series A Notes, or prior to the date of the applicable Quotation,
in the case of any Series of Shelf Notes, in connection with the transactions contemplated hereby and the financial statements listed
in <U>Schedule&nbsp;5.5</U>, in the case of the Series A Notes, or as otherwise described in Section 5.5, in the case of the Shelf Notes
(this Agreement, the Annual Report and such documents, certificates and other writings and such financial statements delivered to New
York Life and each applicable Purchaser with respect to the applicable purchase of Notes being referred to, collectively, as the <B>&ldquo;Disclosure
Documents&rdquo;</B>), taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure
Documents or as expressly described in <U>Schedule 5.3</U>, or in one of the documents, certificates or other writings identified therein,
or in the financial statements listed in <U>Schedule&nbsp;5.5</U>, since December 31, 2021 (or in the case of any Series of Shelf Notes,
since the end of the most recent fiscal year for which audited financial statements of the Company have been furnished prior to the time
New York Life provided the Quotation to the Company pursuant to Section 2.2(e) with respect to such Series of Shelf Notes), there has
been no change, and there is no fact known to the Company that could reasonably be expected to result in a change, in the financial condition,
operations, business, properties or prospects of the Company or any Subsidiary except changes that individually or in the aggregate could
not reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the Disclosure Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Organization and Ownership of Shares of Subsidiaries; Affiliates.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Schedule 5.4(a)</U> contains (except as noted therein) complete and correct lists (i) of the Company&rsquo;s Subsidiaries as
of the date of this Agreement, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the
percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other Subsidiary
and whether such Subsidiary is a Material Subsidiary and shall be a Guarantor and (ii) of the Company&rsquo;s Affiliates, other than Subsidiaries.
<U>Schedule 5.4(b)</U> sets forth the corporate structure of the Company as of the date of this Agreement. <U>Schedule 5.4(c)</U> sets
forth the Company&rsquo;s directors and senior officers as of the date of this Agreement. As of the applicable date of any applicable
Closing, no shareholder or group of related or affiliated shareholders of the Company owns, directly or indirectly, shares of the Company
having voting rights which are equal to or greater than thirty percent (30%) of the voting rights attached to all outstanding shares of
the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All of the outstanding shares of capital stock or similar equity interests of each Subsidiary owned by the Company and its Subsidiaries
have been validly issued, are fully paid and non-assessable and are owned by the Company or another Subsidiary free and clear of any Lien
(other than Permitted Liens).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Subsidiary of the Company is a corporation or other legal entity duly organized, validly existing and, if applicable, in good
standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and
is, if applicable, in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties
it purports to own or hold under lease and to transact the business it transacts and proposes to transact as described in the Disclosure
Documents and, in the case of the Guarantors, to execute and deliver the Financing Documents to which each is a party and to perform their
respective obligations thereunder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction (other than this Agreement,
the agreements listed on <U>Schedule 5.4(d)</U>, the Credit Agreement, the 2015 Note Purchase Agreement, the 2022 Prudential Shelf Agreement
and customary limitations imposed by corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out
of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of
capital stock or similar equity interests of such Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company has delivered to New York Life and each
applicable Purchaser copies of the following financial statements, (a) as of the date hereof, the financial statements listed on <U>Schedule
5.5</U>, and (b) with respect to any Closing, (i) a consolidated balance sheet of the Company and its Subsidiaries as of the last day
of each of the three fiscal years of the Company most recently completed prior to the date as of which this representation is made or
repeated (other than fiscal years completed within 90 days prior to such date for which audited financial statements have not been released)
and consolidated statements of earnings and cash flows of the Company and its Subsidiaries for each such year, all reported on by independent
chartered accountants of recognized international standing and (ii) a consolidated balance sheet of the Company and its Subsidiaries as
at the end of the quarterly period (if any) most recently completed prior to such date and after the end of the last fiscal year referenced
in clause (b)(i) above (other than quarterly periods completed within 45 days prior to such date for which financial statements have not
been released) and the comparable quarterly period in the preceding fiscal year and consolidated statements of earnings and cash flows
for the periods from the beginning of the fiscal year in which such quarterly periods are included to the end of such quarterly periods,
prepared by the Company. All of such financial statements (including in each case the related schedules and notes) fairly present in all
material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates thereof and the consolidated
earnings and cash flows for the respective periods so specified and have been prepared in accordance with U.S. GAAP consistently applied
throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to
normal year-end adjustments). The Company and its Subsidiaries do not have any Material liabilities that are not disclosed in the Disclosure
Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with Laws, Other Instruments, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The execution, delivery and performance by the Company
of this Agreement, the Notes and the other Financing Documents to which the Company is a party, and by the Subsidiaries of the Financing
Documents to which they are parties, will not (a)&nbsp;contravene, result in any breach of, or constitute a default under, or result in
the creation of any Lien in respect of any property of the Company or any Subsidiary under, any indenture, mortgage, deed of trust, loan,
purchase or credit agreement, lease, corporate charter or by-laws, partnership agreement, shareholders agreement or any other agreement
or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties
may be bound or affected, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment,
decree or ruling of any court, arbitrator or Governmental Authority having jurisdiction over the Company or any Subsidiary or (c) violate
any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governmental Authorizations, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Company
of this Agreement, the Notes or the other Financing Documents to which the Company is a party, and by the Subsidiaries of the Financing
Documents to which they are parties, including, without limitation, any thereof required in connection with the obtaining of U.S. Dollars
to make payments under this Agreement, the Notes or the other Financing Documents and the payment of such U.S. Dollars to Persons resident
in the United States of America or Canada, other than the execution and filing of a report of exempt trade on Form 45-501F1 under Rule
45-501 made under the <I>Securities Act </I>(Ontario) together with the requisite filing fee with the Ontario Securities Commission (or
any other applicable Canadian securities regulatory authority), within ten days of the sale and purchase of the Notes. It is not necessary
to ensure the legality, validity, enforceability or admissibility into evidence in Canada of this Agreement, the Notes or the other Financing
Documents that any thereof or any other document be filed, recorded or enrolled with any Governmental Authority, or that any such agreement
or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Litigation; Observance of Agreements, Statutes and Orders.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as disclosed in <U>Schedule 5.8</U> (as such <U>Schedule 5.8</U> may be updated by the Company pursuant to any Request for
Purchase, subject to a Confirmation of Acceptance, if applicable), there are no actions, suits, investigations or proceedings pending
or, to the best knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company
or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that could, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary is (i) in default under any agreement or instrument to which it is a party or by which it
is bound, (ii) in violation of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or (iii) in violation
of any applicable law, ordinance, rule or regulation of any Governmental Authority (including without limitation Environmental Laws, the
USA PATRIOT Act or any of the other laws and regulations that are referred to in Section 5.16) of any Governmental Authority, which default
or violation could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Taxes; Foreign Taxes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each Subsidiary have filed all tax returns that are required to have been filed in any jurisdiction, and have paid
all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets,
income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except
for any taxes and assessments (i)&nbsp;the amount of which, individually or in the aggregate, is not Material or (ii)&nbsp;the amount,
applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the
Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with U.S. GAAP. The Company knows of no basis
for any other tax or assessment that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Taxes for all fiscal periods are adequate.
All Canadian and U.S. federal income tax liabilities of the Company and the Subsidiaries have been finally determined (whether by reason
of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended December
31, 2016.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No liability for any Tax imposed, assessed, levied or collected by or for the account of any Governmental Authority of or in Canada
or any political subdivision thereof or therein (an <B>&ldquo;Applicable Taxing Authority&rdquo;</B>) will be incurred by the Company
or any holder of a Note as a result of the execution or delivery of this Agreement or the Notes and, based on present law, no deduction
or withholding in respect of Taxes imposed by or for the account of any Applicable Taxing Authority is required to be made from any payment
by the Company under this Agreement or the Notes except for any such withholding or deduction arising out of the conditions described
in the last sentence of Section 13(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.10.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Title to Property; Leases.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company and each Subsidiary have good and sufficient
title to their respective properties that individually or in the aggregate are Material, including all such properties reflected in the
most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after
such date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens prohibited
by this Agreement or any other Financing Document. All leases that the Company or any Subsidiary is party to as lessee and that individually
or in the aggregate are Material are valid and subsisting and are in full force and effect in all material respects.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.11.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Licenses, Permits, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Except as disclosed in <U>Schedule 5.11</U> (as such
<U>Schedule 5.11</U> may be updated by the Company pursuant to any Request for Purchase, subject to a Confirmation of Acceptance, if applicable),</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company and each Subsidiary own, possess or are licensed to use all licenses, permits, franchises, authorizations, patents,
copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate
are Material, without known conflict with the rights of others;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the best knowledge of the Company, no product or service of the Company or any Subsidiary infringes in any material respect
any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right
owned by any other Person; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to the best knowledge of the Company, there is no Material violation by any Person of any right of the Company or any Subsidiary
with respect to any patent, copyright, service mark, trademark, trade name or other right owned or used by the Company or any Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.12.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with ERISA; Foreign Pension Plans.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws, except for
such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event,
transaction or condition has occurred or exists that could, individually or in the aggregate, reasonably be expected to result in the
incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties
or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to section 430(k) of the Code or
to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest
in connection with the amendment of a Plan, other than such liabilities or Liens as would not be individually or in the aggregate Material.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as
of the end of such Plan&rsquo;s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes
in such Plan&rsquo;s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such Plan allocable
to such benefit liabilities by more than U.S.$5,000,000 in the aggregate for all Plans. The term <B>&ldquo;benefit liabilities&rdquo;</B>
has the meaning specified in section&nbsp;4001 of ERISA and the terms <B>&ldquo;current value&rdquo;</B> and <B>&ldquo;present value&rdquo;</B>
have the meaning specified in section&nbsp;3 of ERISA.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each ERISA Affiliate have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities)
under section&nbsp;4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The expected postretirement benefit obligation (determined as of the last day of the Company&rsquo;s most recently ended fiscal
year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities
attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction
that is subject to the prohibitions of section&nbsp;406 of ERISA or in connection with which a tax could be imposed pursuant to section&nbsp;4975(c)(1)(A)-(D)
of the Code. The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon
and subject to the accuracy of such Purchaser&rsquo;s representation in Section 6.2 as to the sources of the funds to be used to pay the
purchase price of the Notes acquired by such Purchaser.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Foreign Pension Plan has been established, operated, administered and maintained in compliance with its terms and with the
requirements of any and all applicable laws, statutes, rules, regulations and court orders and has been maintained in good standing with
applicable regulatory authorities except for instances of non-compliance which have not resulted and could not reasonably be expected
to result in a Material Adverse Effect. All premiums, contributions, and any other amounts required by applicable Foreign Pension Plans
documents or applicable laws have been paid or accrued as required except for premiums, contributions or other amounts that, in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.13.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Offering of Notes.</B> Neither the Company nor any Subsidiary nor any agent acting on any of their behalf has, directly or indirectly,
offered the Notes or any similar security of the Company for sale to, or solicited any offers to buy the Notes or any similar security
of the Company from, or otherwise approached or negotiated with respect thereto with, any Person other than institutional investors, and
neither the Company nor any agent acting on its behalf has taken or will take any action which would reasonably be expected to subject
the issuance or sale of the Notes to the provisions of Section 5 of the Securities Act or to the provisions of any securities or &ldquo;blue
sky&rdquo; law of any applicable jurisdiction.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>5.14.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Use of Proceeds; Margin Regulations.</B> The proceeds of the Series A Notes will be used for general corporate purposes and to
refinance existing indebtedness under the Credit Agreement. The proceeds of each other Series of Shelf Notes will be used as set forth
in the Request For Purchase with respect to such Series. None of the proceeds of the sale of any Notes will be used to finance a Hostile
Tender Offer. No part of the proceeds of any Notes, and no other extensions of credit hereunder, will be used (a) for &ldquo;buying&rdquo;
or &ldquo;carrying&rdquo; any &ldquo;margin stock&rdquo; within the respective meanings of each of the quoted terms under Regulation U
of the Board of Governors of the Federal Reserve System (12 CFR 221) as now and from time to time hereafter in effect for any purpose
that violates the provisions of the Regulations of the Board of Governors of the Federal Reserve System or (b) for any purpose that violates
the provisions of the regulations of the Board of Governors of the Federal Reserve System.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.15.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Existing Indebtedness; Future Liens.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as described therein, <U>Schedule 5.15</U> sets forth a complete and correct list of all outstanding Indebtedness of the
Company and its Subsidiaries as of July 31, 2022 (including a description of the obligors, principal amount outstanding and collateral
therefor, if any, and any Guaranty thereof, if any) since which date there has been no Material increase in the amounts, interest rates,
sinking funds or installment payments of the Indebtedness of the Company or its Subsidiaries or any Material increase in the frequency
of any installment payments or any Material shortening of the maturities of any such Indebtedness at any time prior to the date of this
Agreement. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any
principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness
of the Company or any Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons
to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>True and complete copies of the Credit Agreement, 2015 Note Purchase Agreement and the 2022 Prudential Shelf Agreement have been
provided to each Purchaser.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except for Permitted Liens identified in Sections 10.3(b) to 10.3(m), inclusive, and except as disclosed in <U>Schedule 5.15</U>,
neither the Company nor any Subsidiary has agreed or consented to cause or permit any of its property, whether now owned or hereafter
acquired, to be subject to a Lien that secures Indebtedness or to cause or permit in the future (upon the happening of a contingency or
otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien that secures Indebtedness.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument evidencing
Indebtedness of the Company or such Subsidiary, any agreement relating thereto or any other agreement (including, but not limited to,
its charter or any other organizational document) which limits the amount of or otherwise imposes restrictions on the incurring of, Indebtedness
of the Company, except as disclosed on <U>Schedule 5.15</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.16.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Foreign Assets Control Regulations, Etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Controlled Entity is (i) a Person whose name appears on the list of Specially Designated Nationals
and Blocked Persons published by the Office of Foreign Assets Control, United States Department of the Treasury (&ldquo;<B>OFAC</B>&rdquo;)
(an &ldquo;<B>OFAC Listed Person</B>&rdquo;), (ii) an agent, department, or instrumentality of, or is otherwise beneficially owned by,
controlled by or acting on behalf of, directly or indirectly, (x) any OFAC Listed Person or (y) any Person, entity, organization, foreign
country or regime that is subject to any OFAC Sanctions Program, or (iii) any Person that is otherwise blocked, subject to sanctions under
or engaged in any activity in violation of other United States economic sanctions, including but not limited to, the Trading with the
Enemy Act, the International Emergency Economic Powers Act, the Comprehensive Iran Sanctions, Accountability and Divestment Act (&ldquo;<B>CISADA</B>&rdquo;)
or any similar law or regulation with respect to Iran or any other country, the Sudan Accountability and Divestment Act, any OFAC Sanctions
Program, or any economic sanctions regulations administered and enforced by the United States or any enabling legislation or executive
order relating to any of the foregoing (collectively, &ldquo;<B>U.S. Economic Sanctions</B>&rdquo;) (each OFAC Listed Person and each
other Person, entity, organization and government of a country described in clause (i), clause (ii) or clause (iii), a &ldquo;<B>Blocked
Person</B>&rdquo;). Neither the Company nor any Controlled Entity has been notified that its name appears or may in the future appear
on a state list of Persons that engage in investment or other commercial activities in Iran or any other country that is subject to U.S.
Economic Sanctions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No part of the proceeds from the sale of the Notes hereunder constituted or will constitute funds obtained on behalf of any Blocked
Person or will otherwise be used by the Company or any Controlled Entity, directly or indirectly, (i) in connection with any investment
in, or any transactions or dealings with, any Blocked Person, or (ii) otherwise in violation of U.S. Economic Sanctions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Controlled Entity (i) has violated, been found in violation of, charged with, or convicted of, money
laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under the Currency and Foreign Transactions
Reporting Act of 1970 (otherwise known as the Bank Secrecy Act), the USA PATRIOT Act or any other United States law or regulation governing
such activities (collectively, &ldquo;<B>Anti-Money Laundering Laws</B>&rdquo;) or any U.S. Economic Sanctions violations, (ii) has received
any written communication that the Company or Controlled Entity is under investigation by any Governmental Authority for possible violation
of Anti-Money Laundering Laws or any U.S. Economic Sanctions violations, and is not otherwise aware of any such investigation, (iii) has
been assessed civil penalties under any Anti-Money Laundering Laws or any U.S. Economic Sanctions, or (iv) has had any of its funds seized
or forfeited in an action under any Anti-Money Laundering Laws. The Company has established procedures and controls which it reasonably
believes are adequate (and otherwise comply with applicable law) to ensure that the Company and each Controlled Entity is and will continue
to be in compliance with all applicable current and future Anti-Money Laundering Laws and U.S. Economic Sanctions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(1)&#9;Neither the Company nor any Controlled Entity (i) has violated, been charged with, or convicted of bribery or any other
anti-corruption related activity under any applicable law or regulation in a U.S. or any non-U.S. country or jurisdiction, including but
not limited to, the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010 (collectively, &ldquo;<B>Anti-Corruption Laws</B>&rdquo;),
(ii) has received any written communication that the Company or Controlled Entity is under investigation by any Governmental Authority
for possible violation of Anti-Corruption Laws, and is not otherwise aware of any such investigation, (iii) has been assessed civil or
criminal penalties under any Anti-Corruption Laws or (iv) has been or is the target of sanctions imposed by Canada, the United Nations
or the European Union;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any Controlled Entity has received any written communication within the last five years asserting that the Company or
a Controlled Entity has, directly or indirectly, offered, promised, given, paid or authorized the offer, promise, giving or payment of
anything of value to a Governmental Official or a commercial counterparty for any of the following purposes, and is not otherwise aware
of any such action: (i) influencing any act, decision or failure to act by such Government Official in his or her official capacity or
by such commercial counterparty, (ii) inducing a Governmental Official to do or omit to do any act in violation of the Governmental Official&rsquo;s
lawful duty, or (iii) inducing a Governmental Official or a commercial counterparty to use his or her influence with a government or instrumentality
to affect any act or decision of such government or entity; in each case in order to obtain, retain or direct business or to otherwise
secure an improper advantage; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No part
of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for any improper payments, including bribes,
to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage.
The Company has established procedures and controls which it reasonably believes are adequate (and otherwise comply with applicable law)
to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable current and future
Anti-Corruption Laws.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.17.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Status under Certain Statutes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Neither the Company nor any Subsidiary is subject to
regulation under the Investment Company Act of 1940 of the United States of America, as amended, the Public Utility Holding Company Act
of 2005 of the United States of America, as amended, the ICC Termination Act of 1995 of the United States of America, as amended, or the
Federal Power Act of the United States of America, as amended.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.18.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Environmental Matters.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no proceeding has
been instituted asserting any claim against the Company or any Subsidiary or any of their respective real properties or other assets now
or formerly owned, leased or operated by any of them, alleging any damage to the environment or violation of any Environmental Laws, except,
in each case, such as could not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has knowledge of any facts which would give rise to any claim, public or private, of violation
of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly
owned, leased or operated by any of them or to other assets or their use, except, in each case, such as could not, individually or in
the aggregate, reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated
by any of them in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected
to result in a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary has disposed of any Hazardous Materials in a manner which is contrary to any Environmental
Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All buildings on all real properties now owned, leased or operated by the Company or any Subsidiary are in compliance with applicable
Environmental Laws, except where failure to comply could not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.19.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ranking.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All liabilities of the Company under the Notes constitute
direct, unconditional and general obligations of the Company and rank in right of payment either <I><U>pari passu</U></I> with or senior
to all other unsecured and unsubordinated Indebtedness of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.20.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Guarantees.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The representations and warranties of each Guarantor
contained in the respective Guarantees to which each is a party are true and correct as of the date they are made and will be true and
correct at the time of each Closing. Immediately after giving effect to each Closing, the Guarantors that shall have executed and delivered
the Guarantees or the Confirmations of Guarantee, as the case may be, in favor of the holders of the Notes are the same as the Subsidiaries
of the Company that have executed and delivered guarantees in favor of (a) the Banks in connection with the Credit Agreement, (b) the
2015 Noteholders in connection with the 2015 Note Purchase Agreement and (c) the holders of the notes issued pursuant to the 2022 Prudential
Shelf Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">5.21.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.22.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chief Executive Office.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">As of the date of this Agreement, the chief place of
business and chief executive office of the Company is 1255 Bay Street, Suite 600, Toronto, Ontario, Canada M5R 2A9.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">5.23.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Previous Acquisitions.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each of the business(es) acquired by the Company or
any of its Subsidiaries prior to the date hereof qualifies as an Eligible Business.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">REPRESENTATIONS OF THE PURCHASERS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">6.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase for Investment.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each Purchaser severally represents that such Purchaser
(i) is an Institutional Accredited Investor, (ii) is an &ldquo;accredited investor&rdquo; within the meaning of the <I>National Instrument
45-106 - Prospectus and Registration Exemptions of the Canadian Securities Administrators</I>, and (iii) has acquired the Notes for its
own account or for one or more separate accounts maintained by it or for the account of one or more pension or trust funds (each of which
is an &ldquo;accredited investor&rdquo; as described in clause (ii) above) and not with a view to the distribution thereof, <U>provided</U>
that the disposition of such Purchaser&rsquo;s or their property shall at all times be within such Purchaser&rsquo;s or their control.
Each Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant
to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such
registration nor such an exemption is required by law, and that the Company is not required to register the Notes. Each Purchaser acknowledges
that nothing in this Agreement is intended to impose an obligation on the Company to register the Notes under the Securities Act, any
state securities laws or the <I>Securities Act</I> (Ontario), and that the Notes have not been qualified for sale under the securities
laws of any province or territory of Canada and have not been and may not be offered or sold in Canada in contravention of the securities
laws of any province or territory of Canada.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">6.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Source of Funds.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each Purchaser severally represents that at least one
of the following statements is an accurate representation as to each source of funds (a &ldquo;<B>Source</B>&rdquo;) to be used by such
Purchaser to pay the purchase price of the Notes acquired by such Purchaser hereunder:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is an &ldquo;insurance company general account&rdquo; (as the term is defined in the United States Department of Labor&rsquo;s
Prohibited Transaction Exemption (&ldquo;<B>PTE</B>&rdquo;) 95-60) in respect of which the reserves and liabilities (as defined by the
annual statement for life insurance companies approved by the NAIC (the <B>&ldquo;NAIC Annual Statement&rdquo;</B>)) for the general account
contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general
account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as
defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities
of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such
Purchaser&rsquo;s state of domicile; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is a separate account that is maintained solely in connection with such Purchaser&rsquo;s fixed contractual obligations
under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate
account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment
performance of the separate account; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1, or (ii) a bank collective
investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to
this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns
more than 10% of all assets allocated to such pooled separate account or collective investment fund; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source constitutes assets of an &ldquo;investment fund&rdquo; (within the meaning of Part VI of PTE 84-14 (the &ldquo;<B>QPAM
Exemption</B>&rdquo;)) managed by a &ldquo;qualified professional asset manager&rdquo; or &ldquo;QPAM&rdquo; (within the meaning of Part
VI of the QPAM Exemption), no employee benefit plan&rsquo;s assets that are managed by the QPAM in such investment fund, when combined
with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning
of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent more
than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither
the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the Company that would cause the QPAM and
the Company to be &ldquo;related&rdquo; within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity of such QPAM and (ii)
the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit
plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of
such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to
the Company in writing pursuant to this clause (d); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source constitutes assets of a &ldquo;plan(s)&rdquo; (within the meaning of Part IV(h) of PTE 96-23 (the &ldquo;<B>INHAM Exemption</B>&rdquo;))
managed by an &ldquo;in-house asset manager&rdquo; or &ldquo;INHAM&rdquo; (within the meaning of Part IV(a) of the INHAM Exemption), the
conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled by
the INHAM (applying the definition of &ldquo;control&rdquo; in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest in the
Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have
been disclosed to the Company in writing pursuant to this clause (e); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is a governmental plan; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit
plans, each of which has been identified to the Company in writing pursuant to this clause (g); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">As used in this Section 6.2, the terms <B>&ldquo;employee
benefit plan&rdquo;</B>, <B>&ldquo;governmental plan&rdquo;</B> and <B>&ldquo;separate account&rdquo;</B> shall have the respective meanings
assigned to such terms in section 3 of ERISA.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">INFORMATION AS TO THE COMPANY.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">7.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial and Business Information.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company shall deliver to each holder of Notes that
is an Institutional Investor:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Quarterly Statements</U> -- within 45 days after the end of each of the first three quarterly periods in each fiscal year of
the Company, duplicate copies of,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a consolidated balance sheet of the Company and its Subsidiaries as at the end of such period, and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated statements of earnings and cash flows of the Company and its Subsidiaries, for such period and (in the case of the
second and third quarterly periods) for the portion of the fiscal year ending with such period,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">setting forth in each case in comparative form the figures
for the corresponding period in the previous fiscal year, all in reasonable detail, prepared in accordance with U.S. GAAP applicable to
interim financial statements generally, and certified by a Senior Financial Officer of the Company as fairly presenting, in all material
respects, the financial position of the companies being reported on and their earnings and cash flows, subject to changes resulting from
year-end adjustments, <U>provided</U> that delivery within the time period specified above of copies of the Company&rsquo;s Quarterly
Report on Form 6-K prepared in compliance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements
of this Section 7.1(a); and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Annual Statements</U> --</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>within 90 days after the end of each fiscal year of the Company, duplicate copies of,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(A)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a consolidated balance sheet of the Company and its Subsidiaries, as at the end of such fiscal year, and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(B)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidated statements of earnings and cash flows of the Company and its Subsidiaries, for such fiscal year,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.5in">setting forth in each case in comparative form
the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with U.S. GAAP, and accompanied by (A) an opinion
thereon (without a &ldquo;going concern&rdquo; or similar qualification or exception and without any qualification or exception as to
the scope of the audit on which such opinion is based) of independent chartered accountants of recognized international standing, which
opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being
reported upon and their earnings and cash flows and have been prepared in conformity with U.S. GAAP, and that the examination of such
accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that
such audit provides a reasonable basis for such opinion in the circumstances and (B) so long as a similar certificate is delivered to
any of the Banks or any of the 2015 Noteholders, a certificate of such accountants stating that they have reviewed this Agreement and
the other Financing Documents and stating further whether, in making their audit, they have become aware of any condition or event that
then constitutes a Default or an Event of Default, and, if they are aware that any such condition or event then exists, specifying the
nature and period of the existence thereof (it being understood that such accountants shall not be liable, directly or indirectly, for
any failure to obtain knowledge of any Default or Event of Default unless such accountants should have obtained knowledge thereof in making
an audit in accordance with generally accepted auditing standards or did not make such an audit); and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>together with the financial statements referred to in the foregoing subclause (i), the Company&rsquo;s annual business plan and
financial projections, including unaudited profit and loss statements, cash-flow statements, balance sheets and projected capital expenditures
for the fiscal year then begun (such business plan and financial projections not to be prepared in a manner nor contain any statement
which is inconsistent with U.S. GAAP);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><U>provided</U> that the delivery within the time period
specified above of the Company&rsquo;s Annual Report on Form 40-F for such fiscal year prepared in accordance with the requirements therefor
and filed with the SEC shall be deemed to satisfy the requirements of Section 7.1(b)(i);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Reports</U> -- promptly upon their becoming available, one copy of (i) each financial statement, report, notice or proxy
statement sent by the Company or any Subsidiary to (x) its creditors under any Material Credit Facility (excluding information sent to
such creditors in the ordinary course of administration of a credit facility, such as information relating to pricing and borrowing availability)
or (y) public securities holders generally, and (ii)&nbsp;each regular or periodic report and each registration statement (without exhibits
except as expressly requested by such holder) filed by the Company or any Subsidiary with the Toronto Stock Exchange or any other stock
exchange or the SEC and of all press releases and other statements made available generally by the Company or any Subsidiary to the public
concerning developments that are Material;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Default or Event of Default</U> -- promptly, and in any event within five Business Days after a Responsible Officer
becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect
to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type
referred to in Section 11(e), a written notice specifying the nature and period of existence thereof and what action the Company is taking
or proposes to take with respect thereto;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>ERISA Matters</U> -- promptly, and in any event within 15 days after a Responsible Officer becoming aware of any of the following,
a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with
respect thereto:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to any Plan, any reportable event, as defined in section&nbsp;4043(c) of ERISA and the regulations thereunder, for
which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof and that could reasonably be expected
to result in a Material Adverse Effect; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section&nbsp;4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate
of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer Plan; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA Affiliate
pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition
of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such
penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could
reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices from Governmental Authority</U> -- promptly, and in any event within 10 Business Days of receipt thereof, copies of
any notice to the Company or any Subsidiary from any Governmental Authority relating to any order, ruling, statute or other law or regulation
that could reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Material Credit Facilities</U> -- promptly, and in any event within 30 days after the execution thereof, copies of (i) any new
Material Credit Facility and (ii) any amendments or other modifications to any existing Material Credit Facility;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Debt Rating</U> -- promptly following the occurrence thereof, notice of any change in the Debt Rating for the outstanding Notes
(to the extent such Debt Rating is not a public rating); and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Requested Information</U> -- with reasonable promptness, such other data and information relating to the business, operations,
affairs, financial condition, assets or properties of the Company or any Subsidiary or relating to the ability of the Company or any Guarantor
to perform their respective obligations under the Financing Documents as from time to time may be reasonably requested by any such holder
of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">7.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Officer&rsquo;s Certificate.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each set of financial statements delivered to a holder
of Notes pursuant to Section 7.1(a) or Section 7.1(b) hereof shall be accompanied by a certificate of a Senior Financial Officer of the
Company setting forth and/or attaching, as applicable:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant Compliance</U> -- the information (including detailed calculations) required in order to establish whether the Company
was in compliance with the requirements of Section&nbsp;10.3 through Section&nbsp;10.9 hereof, inclusive, during the quarterly or annual
period covered by the financial statements then being furnished (including with respect to each such Section, where applicable, the calculations
of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation
of the amount, ratio or percentage then in existence, and also including details of any adjustments to EBITDA as a result of Normalizing
Adjustments) and stating that the appointment of the agent referred to in Section 24 remains in effect or stating the name and address
of the Person appointed to replace such agent. In the event that the Company or any Subsidiary has made an election to measure any financial
liability using fair value (which election is being disregarded for purposes of determining compliance with this Agreement pursuant to
Section 26.8) as to the period covered by any such financial statement, such Senior Financial Officer&rsquo;s certificate as to such period
shall include a reconciliation from U.S. GAAP with respect to such election; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Event of Default</U> -- a statement certifying that such officer has reviewed the relevant terms hereof and has made, or caused
to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning
of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall
not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if
any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the failure of
the Company or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action
the Company shall have taken or proposes to take with respect thereto; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>EBITDA Breakdown</U> -- in the certificate accompanying the financial statements delivered pursuant to Section 7.1(b), a breakdown
of the EBITDA for the Company and its Subsidiaries, on an individual basis, as at the last day of such fiscal year.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">7.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inspection.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company shall permit representatives of each holder
of Notes that is an Institutional Investor:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Default</U> -- if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice
to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and
its Subsidiaries with the Company&rsquo;s officers, and (with the consent of the Company, which consent will not be unreasonably withheld)
its independent chartered accountants, and (with the consent of the Company, which consent will not be unreasonably withheld) to visit
the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as often as may be reasonably requested
in writing; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Default</U> -- if a Default or Event of Default then exists, at the expense of the Company and upon reasonable prior notice
to the Company, to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective
books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances
and accounts with their respective officers and independent chartered accountants (and by this provision the Company authorizes said accountants
to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">7.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Electronic Delivery.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Financial statements, reports and any other information
required to be delivered by the Company pursuant to Section 7.1(c) shall be deemed to have been delivered if the Company shall have filed
any of the items referred to in Section 7.1(c) with the Canadian Securities Administrators on SEDAR and shall have made such items available
on its home page on the internet located at https://www.firstservice.com or on IntraLinks or on any other similar website to which each
holder of Notes has free access; <I>provided however,</I> that the Company shall have given each holder of a Note prior written notice,
which may be by e-mail or in accordance with Section 20, of such posting or filing in connection with each delivery, <I>provided further,</I>
that upon request of any holder to receive paper copies of such financial statements, reports or other information or to receive them
by e-mail, the Company will promptly e-mail them or deliver such paper copies, as the case may be, to such holder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">PREPAYMENT OF THE NOTES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Required Prepayments; Maturity.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series A Notes</U>. As provided therein, the entire unpaid principal balance of each Series A Note shall be due and payable
on the Maturity Date thereof (as set forth in each of the Series A Notes).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Shelf Notes</U>. Each Series of Shelf Notes shall be subject to the required prepayments, if any, set forth in the Shelf Notes
of such Series. Upon any partial prepayment of any such Series of Shelf Notes pursuant to Section 8.2, Section 8.3, or Section 8.4, the
principal amount of each required prepayment of such Shelf Notes becoming due under the terms of such Shelf Notes on and after the date
of such prepayment, together with the principal amount due at maturity, shall be reduced in the same proportion as the aggregate unpaid
principal amount of such Shelf Notes is reduced as a result of such prepayment. As provided therein, the entire unpaid principal balance
of each Shelf Note shall be due and payable on the Maturity Date thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Optional Prepayments with Make-Whole Amount.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company may, at its option, upon notice as provided
in Section 8.5, prepay at any time all, or from time to time any part of, the Notes (in the case of a partial prepayment, such prepayment
shall be in an amount not less than U.S.$5,000,000 (or such lesser amount as shall then be outstanding) and then only in increments of
U.S.$100,000), at 100% of the principal amount so prepaid, plus all interest accrued thereon through such prepayment date, plus the applicable
Make-Whole Amount determined for the prepayment date with respect to such principal amount.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prepayment in Connection with a Payment under Section 13.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Subsection (b) below, if, as a result of the occurrence of any Tax Event, the Company on any date shall have (i)&nbsp;made
a payment under Section 13 with respect to any Note or become obligated to make a payment under Section 13 with respect to any Note on
the next date on which a payment of interest is scheduled to be made (such payment in either case being in excess of the amount that the
Company would have been required to pay but for the occurrence of such Tax Event) (in either case, any such Note being herein referred
to as an <B>&ldquo;Affected Note&rdquo;</B>) and (ii)&nbsp;furnished to each holder of any Affected Note a notice from a Responsible Officer
of the Company setting forth in reasonable detail the nature of such Tax Event and an explanation of the basis on which the Company is
then so obligated to make payment under Section 13, the Company may, upon notice given as provided in Section 8.5, prepay the Affected
Notes in whole (and not in part) on the date specified in such notice at a price equal to the unpaid principal amount of such Notes, together
with interest accrued thereon to the date fixed for such prepayment, plus the applicable Make-Whole Amount determined for the prepayment
date with respect to such principal amount. The prepayment notice to be given in connection with a prepayment pursuant to this Section
8.3(a) on account of a particular Tax Event shall be given not later than the date that the first payment is to be made under Section
13 in respect of such Tax Event.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding Subsection&nbsp;(a) above, no Affected Note shall be prepaid pursuant to this Section 8.3 if the holder thereof,
at least five Business Days prior to the prepayment date under this Section 8.3, shall have delivered a notice to the Company stating
that such holder waives any right to any future payment under Section 13 in respect of the specific Tax Event that shall have given rise
to the Company&rsquo;s prepayment right under this Section 8.3; <U>provided</U> that</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no such waiver (A) shall be deemed to constitute a waiver of any right to receive a payment in full under Section 13 in respect
of any other Tax Event that shall have given rise to the Company&rsquo;s prepayment right under this Section 8.3 or (B) preclude the Company
from exercising any such right of prepayment in respect of such other Tax Event; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if on any date the amount of any payment that a holder of a Note would be entitled to receive under Section 13 shall increase (in
proportion to the total amount in respect of which the amount payable under Section 13 is determined),</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(A)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the occurrence of any such increase shall be deemed to be a new Tax Event giving rise to a prepayment right under this Section
8.3, and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(B)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such holder thereafter shall be entitled to receive the full amount of any future payment provided under Section 13, notwithstanding
any waiver previously delivered pursuant to this Section 8.3 unless such holder shall have delivered a notice under Section 8.3(b) in
respect of any such prepayment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">In addition, no prepayment of any Note shall be permitted
pursuant to Section 8.3(a) if the underlying Tax payment under Section 13 arises as a result of the failure of the Company to respond
to any request specified in Section 13(a)(iv) or any other act or omission by the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Offer to Prepay upon Certain Events.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offer to Prepay upon the Sale of Certain Assets</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice and Offer</I>. In the event of any Disposition that does not otherwise satisfy the conditions of a disposition permitted
in Section 10.9 and is not a Disposition that is not to be taken into account pursuant to Section 10.9(a), Section 10.9(b), Section 10.9(c),
Section 10.9(d) or Section 10.9(e)(A), the Company will, within ten (10) days after the occurrence of the Disposition in respect of which
such prepayment or redemption is to be made, give written notice of such Disposition to each holder of Notes. Such written notice shall
contain, and such written notice shall constitute, an irrevocable offer (the <B>&ldquo;Disposition Prepayment Offer&rdquo;</B>) to prepay,
at the election of each holder, a portion of the Notes held by such holder equal to such holder&rsquo;s Ratable Portion of the Net Proceeds
arising from such Disposition on a date specified in such notice (the <B>&ldquo;Disposition Prepayment Date&rdquo;</B>) that is not less
than thirty (30) days and not more than sixty (60) days after the date of such notice, together with interest on the amount to be so prepaid
accrued to the Disposition Prepayment Date, but without the Make-Whole Amount. If the Disposition Prepayment Date shall not be specified
in such notice, the Disposition Prepayment Date shall be the forty-fifth (45th) day after the date of such notice.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Acceptance and Payment</I>. To accept such Disposition Prepayment Offer, a holder of Notes shall cause a notice of such acceptance
to be delivered to the Company not later than twenty (20) days after the date of such written notice from the Company, provided, that
failure to accept such offer in writing within twenty (20) days after the date of such written notice shall be deemed to constitute a
rejection of the Disposition Prepayment Offer. If so accepted by any holder of a Note, such offered prepayment (equal to not less than
such holder&rsquo;s Ratable Portion of the Net Proceeds from the relevant Disposition) shall be due and payable on the Disposition Prepayment
Date. Within two (2) Business Days after the end of such twenty (20) day period, the Company shall offer, in writing, to each holder of
Notes that shall have accepted its offer to prepay made pursuant to this Section 8.4(a)(ii), to prepay on the specified Disposition Prepayment
Date an additional portion of such holder&rsquo;s Notes in a principal amount equal to its ratable share (based upon the ratio of the
outstanding principal amount of Notes held by such holder at such time to the aggregate outstanding principal amount of Notes held at
such time by all holders which have also accepted their respective offers to prepay made pursuant to this Section 8.4(a)(ii)) of the aggregate
amount offered to holders of Notes that have rejected, or been deemed to have rejected, the Disposition Prepayment Offer (a <B>&ldquo;Secondary
Disposition Prepayment Offer&rdquo;</B>); <U>provided</U> that such holder may specify that it will accept prepayment of a greater portion
of its Notes, should any of the Secondary Disposition Prepayment Offers be rejected, in which event the Company will allocate the aggregate
amount of Secondary Disposition Prepayment Offers so rejected among the holders so specifying ratably in accordance with the respective
additional amounts so specified. To accept any Secondary Disposition Prepayment Offer under this Section 8.4(a)(ii), a holder of Notes
shall cause a written notice of such acceptance to be delivered to the Company not later than the earlier of the Disposition Prepayment
Date or ten (10) days after the date of receipt by such holder of such Secondary Disposition Prepayment Offer (it being understood that
the failure by a holder to accept such Secondary Disposition Prepayment Offer as provided herein prior to the earlier of such dates shall
be deemed to constitute a rejection of said offer). The aggregate prepayment to be made pursuant to this Section 8.4(a)(ii) (including,
without limitation, the amount to be prepaid as the result of acceptances of Secondary Disposition Prepayment Offers) shall be made at
one hundred percent (100%) of the principal amount of such Notes being so prepaid, together with interest on such principal amount then
being prepaid accrued to the Disposition Prepayment Date, but without the Make-Whole Amount.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&rsquo;s Certificate</I>. Each offer to prepay the Notes pursuant to this Section 8.4(a) shall be accompanied by a certificate,
executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying (A) the Disposition Prepayment Date,
(B) the Net Proceeds in respect of the applicable Disposition, (C) that such offer is being made pursuant to Section 8.4(a) and Section
10.9, (D) the principal amount of each Note offered to be prepaid, (E) the interest that would be due on each Note offered to be prepaid,
accrued to the Disposition Prepayment Date, and (F) in reasonable detail, the nature of the Disposition giving rise to such Disposition
Prepayment Offer and certifying that no Default or Event of Default exists or would exist after giving effect to the prepayment contemplated
by such offer.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice Concerning Status of Holders of Notes</I>. Promptly after each Disposition Prepayment Date and the making of all prepayments
contemplated on such Disposition Prepayment Date under this Section 8.4(a) (and, in any event, within thirty (30) days thereafter), the
Company shall deliver to each holder of Notes a certificate signed by a Senior Financial Officer of the Company containing a list of the
then current holders of Notes (together with their addresses) and setting forth as to each such holder the outstanding principal amount
of Notes held by such holder at such time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Offer to Prepay upon a Change of Control</U>.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice of Change of Control</I>. The Company will, within five Business Days after any Responsible Officer has knowledge of
the occurrence of a Change of Control, give written notice of such Change of Control to each holder of Notes unless written notice of
such Change of Control shall have been given pursuant to Section 8.4(b)(ii) (a &ldquo;<B>Change of Control Prepayment Notice</B>&rdquo;).
If a Change of Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in Section 8.4(b)(ii)
(and shall be accompanied by the certificate described in Section 8.4(b)(v)).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Offer to Prepay Notes</I>. The offer to prepay Notes contemplated by Section 8.4(b)(i) shall be an offer to prepay (a &ldquo;<B>Change
of Control Prepayment Offer</B>&rdquo;), in accordance with and subject to this Section 8.4(b), all, but not less than all, the Notes
held by each holder (in this case only, &ldquo;holder&rdquo; in respect of any Note registered in the name of a nominee for a disclosed
beneficial owner shall mean such beneficial owner) on a date (which shall be a Business Day) specified in such offer (the &ldquo;<B>Proposed
Prepayment Date</B>&rdquo;). Such date shall be not less than thirty (30) days and not more than sixty (60) days after the date of such
offer (or if the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the Business Day
that falls on or next following the forty-fifth (45th) day after the date of such offer).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Acceptance; Rejection</I>. A holder of Notes may accept or reject the offer to prepay made pursuant to this Section 8.4(b) by
causing a notice of such acceptance or rejection to be delivered to the Company at least 10 days prior to the Proposed Prepayment Date.
A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.4(b) shall be deemed to constitute a rejection
of such offer by such holder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Prepayment</I>. Prepayment of the Notes to be prepaid pursuant to this Section 8.4(b) shall be made on the Proposed Prepayment
Date at 100% of the principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment,
but, in any case, without any Make-Whole Amount.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officer&rsquo;s Certificate</I>. Each offer to prepay the Notes pursuant to this Section 8.4(b) shall be accompanied by a certificate,
executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (A) the Proposed Prepayment Date;
(B) that such offer is made pursuant to this Section 8.4(b) and that failure by a holder to respond to such offer by the deadline established
in Section 8.4(b)(iii) shall result in such offer to such holder being deemed rejected; (C) the principal amount of each Note offered
to be prepaid; (D) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date; (E) that
the conditions of this Section 8.4(b) have been fulfilled; and (F) in reasonable detail, the nature and date of the Change of Control.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice Concerning Status of Holders of Notes</I>. Promptly after the Proposed Prepayment Date and the making of all prepayments
contemplated on such Proposed Prepayment Date under this Section 8.4(b) (and, in any event, within 30 days thereafter), the Company shall
deliver to each then current holder of Notes, if any, a certificate signed by a Senior Financial Officer of the Company containing a list
of the then current holders of Notes (together with their addresses) and setting forth as to each such holder the outstanding principal
amount of Notes held by such holder at such time (in each case calculated after giving effect to the prepayments made on such Proposed
Prepayment Date.)</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notices, Etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will give each holder of Notes written
notice of each optional prepayment under Section 8.2 and each holder of any Affected Note written notice of each prepayment under Section
8.3, in each case not less than ten days and not more than 60 days prior to the date fixed for such prepayment, unless the Company and
the Required Holders agree to another time period pursuant to Section&nbsp;19. Each such notice shall specify such date (which shall be
a Business Day), the aggregate principal amount of the Notes or Affected Notes, as the case may be, to be prepaid on such date, the principal
amount of each Note or Affected Note, as the case may be, held by such holder to be prepaid, and the interest to be paid on the prepayment
date with respect to such principal amount being prepaid. Each such notice shall be accompanied by a certificate of a Senior Financial
Officer as to the estimated applicable Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice
were the date of the prepayment) and setting forth the details of such computation, and two Business Days prior to such prepayment, the
Company shall deliver to each holder of Notes or Affected Notes, as the case may be, a certificate of a Senior Financial Officer specifying
the calculation of such Make-Whole Amount as of the specified prepayment date.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Allocation of Partial Prepayments.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In the case of each partial prepayment of the Notes
pursuant to Section 8.1 or Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the
time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for
prepayment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">8.7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maturity; Surrender, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In the case of each prepayment of Notes pursuant to
this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment
(which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount,
if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the
interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid
in full shall be surrendered to the Company and canceled and shall not be reissued, and no Note shall be issued in lieu of any prepaid
principal amount of any Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, nor will it permit any Affiliate
to, purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment
of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by the
Company or any Affiliate pursuant to any payment or prepayment of Notes pursuant to any provision of this Agreement and no Notes may be
issued in substitution or exchange for any such Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">8.9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Make-Whole Amount.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The term <B>&ldquo;Make-Whole Amount&rdquo;</B> means,
with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect
to the Called Principal of such Note over the amount of such Called Principal, <U>provided</U> that the Make-Whole Amount may in no event
be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Called Principal&rdquo;</B> means,
with respect to any Note, the principal of such Note that is to be prepaid pursuant to Section&nbsp;8.2 or&nbsp;8.3 or has become or is
declared to be immediately due and payable pursuant to Section&nbsp;12.1, as the context requires.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Discounted Value&rdquo;</B> means,
with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining Scheduled Payments with respect to
such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance
with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes is
payable) equal to the Reinvestment Yield with respect to such Called Principal.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Reinvestment Yield&rdquo;</B> means,
with respect to the Called Principal of any Note, the sum of (x)(i) if such Called Principal is to be prepaid pursuant to Section 8.3,
1.00% or (ii) if such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and
payable pursuant to Section 12.1, 0.50% <U>plus</U> (y) the yield to maturity implied by the yield(s) reported as of 10:00 a.m. on the
second New York Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as &ldquo;Page
PX1&rdquo; (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded
on-the-run U.S. Treasury securities (&ldquo;<B>Reported</B>&rdquo;) having a maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining
Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond equivalent
yields in accordance with accepted financial practice and (b) interpolating linearly between the yields Reported for the applicable most
recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining
Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal
places as appears in the interest rate of the applicable Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">If such yields are not Reported or the yields
Reported as of such time are not ascertainable (including by way of interpolation), then &ldquo;Reinvestment Yield&rdquo; means, with
respect to the Called Principal of any Note, the sum of (x)(i) if such Called Principal is to be prepaid pursuant to Section 8.3, 1.00%
or (ii) if such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable
pursuant to Section 12.1, 0.50% <U>plus</U> (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported,
for the latest day for which such yields have been so reported as of the second New York Business Day preceding the Settlement Date with
respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury
constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no
such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined
by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining
Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life.
The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Remaining Average Life&rdquo;</B>
means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the
products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal
by (b) the number of years, computed on the basis of a 360-day year composed of twelve 30-day months and calculated to two decimal places,
that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled
Payment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"><B>&ldquo;Remaining Scheduled Payments&rdquo;</B>
means, with respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon that would be due
after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled
due date, <U>provided</U> that if such Settlement Date is not a date on which interest payments are due to be made under the terms of
the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such
Settlement Date and required to be paid on such Settlement Date pursuant to Section&nbsp;8.2, 8.3 or 12.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Settlement Date&rdquo;</B> means,
with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section&nbsp;8.2
or 8.3 or has become or is declared to be immediately due and payable pursuant to Section&nbsp;12.1, as the context requires.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">AFFIRMATIVE COVENANTS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company covenants that during the Issuance Period
and thereafter so long as any of the Notes are outstanding:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance with Laws.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will and will cause each of its Subsidiaries
to comply with all laws, ordinances or governmental rules or regulations to which each of them is subject, including, without limitation,
Environmental Laws, the USA PATRIOT Act and the other laws and regulations that are referred to in Section 5.16, and will obtain and maintain
in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective
properties or to the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such
laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits,
franchises and other governmental authorizations could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Insurance.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will and will cause each of its Subsidiaries
to maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against
such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance,
if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in
the same or a similar business and similarly situated.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maintenance of Properties.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will and will cause each of its Subsidiaries
to maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other
than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times, <U>provided</U>
that this Section shall not prevent the Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties
if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">9.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment of Taxes and Claims.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will and will cause each of its Subsidiaries
to file all tax returns required to be filed in any jurisdiction and to pay and discharge all Taxes shown to be due and payable on such
returns and all other Taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or
franchises, to the extent the same have become due and payable and before they have become delinquent, and all claims for which sums have
become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, <U>provided</U> that
neither the Company nor any Subsidiary need pay any such Tax, assessment, charge, levy or claim if (a)&nbsp;the amount, applicability
or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and
the Company or such Subsidiary has established adequate reserves therefor in accordance with U.S. GAAP on the books of the Company or
such Subsidiary or (b)&nbsp;the nonpayment of all such taxes, assessments, charges, levies and claims could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Corporate Existence, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Subject to Sections&nbsp;10.2 and 10.9, the Company
will at all times preserve and keep in full force and effect its corporate existence, and the Company will at all times preserve and keep
in full force and effect the corporate or partnership existence (as applicable) of each of its Subsidiaries and all rights and franchises
of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep
in full force and effect the corporate or partnership existence of any Subsidiary, or any such right or franchise could not, individually
or in the aggregate, have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ranking.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will ensure that, at all times, all liabilities
of the Company under the Notes will rank in right of payment either <I><U>pari passu</U></I> with or senior to all other unsecured and
unsubordinated Indebtedness of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additional Guarantors.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Subject to Section 9.8, the Company will cause any
Person (a) who after the date hereof is newly incorporated or newly acquired and meets the criteria set forth in the definition of Guarantor,
to execute and deliver, within thirty days thereof, or such longer period as the Required Holders may consent to, or (b) that existed
as at the date hereof and who subsequently meets the criteria set forth in the definition of Guarantor, to execute and deliver, as soon
as reasonably practicable, (x) a Guaranty of the obligations of the Company hereunder which may be satisfied by such Person executing
a guarantee agreement (governed by the Applicable Law of a Reliable Jurisdiction) (in form, substance and under Applicable Law satisfactory
to the Required Holders) or executing an adhesion agreement or joinder to an existing Guarantee, substantially in the form attached to
such Guarantee or otherwise in from and substance satisfactory to the Required Holders, and (y) a favorable supporting legal opinion and
such certificates, accompanying authorizing resolutions and corporate or similar documents as the Required Holders may reasonably request,
each of such opinions, resolutions and similar documents to be in form and substance reasonably satisfactory to the Required Holders.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">9.8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Release of Guarantees, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At any time on or after the release by (x) the Banks of any Guarantor from its obligations under its Guaranty of the obligations
under or in respect of the Credit Agreement or upon any indulgence, waiver or other accommodation by the Banks under the Credit Agreement
in respect of any such Guaranty, (y) the 2015 Noteholders of such Guarantor from its obligations under its Guaranty of the Obligations
under or in respect of the 2015 Note Purchase Agreement or upon any similar indulgence, waiver or other accommodation by the 2015 Noteholders
under the 2015 Note Purchase Agreement in respect of any such Guaranty, and (z) the holders of the notes (if any) under the 2022 Prudential
Shelf Agreement of such Guarantor from its obligations under its Guaranty of the Obligations under or in respect of the 2022 Prudential
Shelf Agreement or upon any similar indulgence, waiver or other accommodation by such holders under the 2022 Prudential Shelf Agreement
in respect of any such Guaranty, and provided that no Default or Event of Default shall have occurred and be continuing at such time,
at the request of the Company, the holders of Notes shall, as the case may be, (i) release any Guarantor from its obligations under its
Guarantee if such Guarantor is being simultaneously released from all of its Guaranty obligations in respect of the Credit Agreement,
the 2015 Note Purchase Agreement and the 2022 Prudential Shelf Agreement and such Guarantor is not a borrower, co-borrower or otherwise
obligated in respect of the obligations under the Credit Agreement, the 2015 Note Purchase Agreement or the 2022 Prudential Shelf Agreement
or (ii) provide any such indulgence, waiver or other accommodation, in each case, as the Banks may provide under the Credit Agreement
in respect of such Guaranty of the obligations under or in respect of the Credit Agreement, the 2015 Noteholders may provide under the
2015 Note Purchase Agreement in respect of such Guaranty of the obligations under or in respect of the 2015 Note Purchase Agreement and
the holders of the notes (if any) under the 2022 Prudential Shelf Agreement may provide under the 2022 Prudential Shelf Agreement in respect
of such Guaranty of the obligations under or in respect of the 2022 Prudential Shelf Agreement, provided further in each case that the
highest consideration paid or provided (if any) to any Bank under the Credit Agreement, any 2015 Noteholder under the 2015 Note Purchase
Agreement and/or PGIM, Inc. or any holder of notes under the 2022 Prudential Shelf Agreement for such release of such Guarantor, or for
the provision of such indulgence, waiver or other accommodation, is paid pro rata to each holder of Notes at substantially the same time
and on equivalent terms.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&#9;If the holders of the Notes have released a Guarantor from its obligations under its Guarantee, as contemplated by Section
9.8(a)(i), the Company shall not thereafter permit such former Guarantor to Guaranty any obligations owing under the Credit Agreement,
the 2015 Note Purchase Agreement or the 2022 Prudential Shelf Agreement, or otherwise become obligated with respect thereto, unless, simultaneously
therewith, such former Guarantor becomes a Guarantor hereunder by executing a Guarantee and such Guarantor delivers to each holders of
the Notes such opinions of counsel, certificates, accompanying authorizing resolutions and corporate or similar documents as the Required
Holders may reasonably request, each of such opinions, resolutions and similar documents to be in form and substance reasonably satisfactory
to the Required Holders.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the holders of the Notes have provided any indulgence, waiver or other accommodation, as contemplated by Section 9.8(a)(ii),
the Company shall not thereafter permit such indulgence, waiver or other accommodation granted by the Banks, the 2015 Noteholders or the
holders of the notes (if any) under the 2022 Prudential Shelf Agreement to be modified in a manner favorable to the Banks, the 2015 Noteholders
or the holders of the notes (if any) under the 2022 Prudential Shelf Agreement, as the case may be, unless the indulgence, waiver or other
accommodation granted by the holders of Notes shall be similarly and simultaneously modified.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Most Favored Lender.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">If at any time either (a) any of the terms (including,
without limitation, defaults and events of default), conditions and/or covenants applicable to the Credit Agreement, the 2015 Note Purchase
Agreement or the 2022 Prudential Shelf Agreement are amended, or (b) any Material Credit Facility entered into after the date hereof contains
any terms (including, without limitation, defaults and events of default), conditions and/or covenants, in each case such that the lenders
or note holders under the Credit Agreement, the 2015 Note Purchase Agreement, the 2022 Prudential Shelf Agreement or any such Material
Credit Facility, benefit from terms (each such term, a &ldquo;<B>Most Favored Provision</B>&rdquo;) that are more favorable to such holders
or lenders than those provided for hereunder, then each such Most Favored Provision shall be deemed to be automatically incorporated by
reference into this Agreement, <U>mutatis mutandis</U>, as if set forth fully herein and, notwithstanding anything to the contrary herein,
without any further action on the part of any of the Company, any Subsidiary or any other Person being required. Any Most Favored Provision
so incorporated herein may not thereafter be modified or waived without the written consent of the Required Holders. In addition, the
Company shall provide prompt written notice of the existence of any Most Favored Provision to each holder of a Note, and the Company agrees
promptly to enter into such documentation as the Required Holders may request to evidence the amendments provided for in this Section.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">9.10.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rating on the Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="color: #010000">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Company shall at all times on and after November 30, 2022, (i) with respect to the Notes, maintain a Debt Rating for
the Notes from an Acceptable Rating Agency and (ii) with respect to the notes issued under the 2015 Note Purchase Agreement, maintain
a Debt Rating for such notes from an Acceptable Rating Agency so long as such notes are outstanding.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="color: #010000"></FONT></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>At any time that any Debt Rating maintained pursuant to clause (a) above is not a public rating, the Company will provide
to each holder of a Note (i) within 30 days following the time such Notes are issued (or, with respect to the Series A Notes and the notes
issued under the 2015 Note Purchase Agreement, on or before November 30, 2022) and at least annually (on or before each anniversary of
the Closing Date with respect to such Note (or, with respect to the Series A Notes and the notes issued under the 2015 Note Purchase Agreement,
on or before each anniversary of the date on which the Debt Rating for such notes was received)) and (ii) promptly upon any change in
such Debt Rating, an updated Private Rating Letter evidencing such Debt Rating and an updated Private Rating Rationale Report with respect
to such Debt Rating.&nbsp; In addition to the foregoing information and any information specifically required to be included in any Private
Rating Letter or Private Rating Rationale Report (as set forth in the respective definitions thereof), if the SVO or any other Governmental
Authority having jurisdiction over any holder of any Notes from time to time requires any additional information with respect to the Debt
Rating of the Notes, the Company shall use commercially reasonable efforts to procure such information from the Acceptable Rating Agency.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">NEGATIVE COVENANTS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company covenants that during the Issuance Period
and thereafter so long as any of the Notes are outstanding:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transactions with Affiliates.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Subsidiary
to, enter into directly or indirectly any transaction or group of related transactions (including without limitation the purchase, lease,
sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company or another Subsidiary),
except in the ordinary course and pursuant to the reasonable requirements of the Company&rsquo;s or such Subsidiary&rsquo;s business and
upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm&rsquo;s-length
transaction with a Person not an Affiliate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Merger, Consolidation, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Guarantor
to, directly or indirectly, enter into any merger, consolidation, amalgamation, reorganization, reconstruction or arrangement or, except
as provided in the last sentence of this Section 10.2, liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution)
or convey, transfer or lease substantially all of its assets in a single transaction or series of transactions to any Person unless:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of the Company, the successor formed by such consolidation, amalgamation, reorganization, reconstruction or arrangement
or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of the Company
(the &ldquo;<B>Company Successor</B>&rdquo;), shall be a solvent corporation organized and existing under the laws of Canada or any Province
thereof, or the United States of America or any State thereof (including the District of Columbia), and, if the Company is not the Company
Successor, (i) the Company Successor shall have executed and delivered to each holder of any Notes its assumption of the due and punctual
performance and observance of each covenant and condition of this Agreement, the Notes and the other Financing Documents to which the
Company is a party, (ii) in the case of any transaction contemplated by this subsection (a) involving the Company, each Guarantor shall
have executed and delivered to each holder of Notes its confirmation of its duties and obligations under the Guarantee to which it is
a party after giving effect to such transaction, and (iii) the Company Successor shall have caused to be delivered to each holder of any
Notes an opinion of nationally recognized independent counsel in the appropriate jurisdiction, or other independent counsel reasonably
satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance
with their terms and comply with the terms hereof;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of any Guarantor, the successor formed by any such consolidation, amalgamation, reorganization, reconstruction or arrangement
or the survivor of such merger or the Person that acquires by conveyance, transfer or lease substantially all of the assets of such Guarantor
(the <B>&ldquo;Guarantor Successor&rdquo;</B>), shall be (1) either the Company, such Guarantor or another Guarantor, (2) a solvent corporation
duly organized and existing under the laws of Canada or any Province thereof, the United States of America or any State thereof (including
the District of Columbia) or the jurisdiction of organization of such Guarantor, and (i) such Guarantor Successor shall have executed
and delivered to each holder of any Notes its assumption of the due and punctual performance and observance of each covenant and condition
of the relevant Guarantee and (ii) the Company shall have caused to be delivered to each holder of any Notes an opinion of nationally
recognized independent counsel in the appropriate jurisdiction, or other independent counsel reasonably satisfactory to the Required Holders,
to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with
the terms hereof or (3) any other Person so long as the transfer of all of the assets of such Subsidiary would have otherwise been permitted
by Section 10.9 and such transaction is treated as a Disposition of all of the assets of such Subsidiary for purposes of Section 10.9;
and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of any such transaction, immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">No such conveyance, transfer or lease of substantially
all of the assets of the Company or any Guarantor shall have the effect of releasing the Company, such Guarantor or any successor corporation
that shall theretofore have become such in the manner prescribed in this Section&nbsp;10.2 from its liability under this Agreement, the
Notes or the other Financing Documents to which the Company, such Guarantor or such successor is a party. The Company may cause or permit
any Subsidiary to liquidate, wind-up or dissolve (or suffer any liquidation or dissolution) if, in the good faith judgment of the Company,
such liquidation, winding-up or dissolution could not, individually or in the aggregate, have a Material Adverse Effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">10.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Subsidiary
to, create, assume, incur or suffer to exist any Lien upon or with respect to any property or assets, whether now owned or hereafter acquired,
of the Company or any Subsidiary, excluding from the operation of this Section the following Liens (each a &ldquo;<B>Permitted Lien</B>&rdquo;
and together, the &ldquo;<B>Permitted Liens</B>&rdquo;):</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing Indebtedness of the Company or any Subsidiary outstanding on the date of this Agreement as specified in <U>Schedule
5.15</U> (to the extent such Lien is not otherwise permitted by any other subsections of this Section 10.3) and Liens securing any extension,
renewal or refunding of such Indebtedness, <U>provided</U> that (i) the principal amount of such Indebtedness outstanding immediately
before giving effect to such extension, renewal or refunding is not increased and (ii) such Lien does not cover any additional property
of the Company or any Subsidiary;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens incurred and pledges and deposits made in connection with workers&rsquo; compensation, unemployment insurance, old-age pensions
and similar legislation (other than ERISA and Canadian pension legislation);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing the performance of bids, tenders, leases, contracts (other than for the repayment of borrowed money), and statutory
obligations of like nature, incurred as an incident to and in the ordinary course of business;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>statutory Liens of landlords, undetermined or inchoate Liens and other Liens imposed by law, such as carriers&rsquo;, warehousemen&rsquo;s,
mechanics&rsquo;, construction and materialmen&rsquo;s Liens, incurred in good faith in the ordinary course of business, <U>provided</U>
that the aggregate amount of any carriers&rsquo;, warehousemen&rsquo;s, mechanics&rsquo;, construction or materialmen&rsquo;s Liens shall
at no time exceed an aggregate amount of U.S.$5,000,000 (or the equivalent thereof, as of any date of determination, in any other currency)
and the amount thereof shall be paid when same shall become due;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens securing the payment of taxes, assessments and governmental charges or levies, either (i) not delinquent or (ii) being contested
in good faith in accordance with Section 9.4 by appropriate proceedings;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>permits, right-of-way, zoning restrictions, easements, licenses, or reservations or restrictions on the use of real property or
minor irregularities or minor title defects incidental thereto which do not in the aggregate materially detract from the value of the
property or assets of the Company or any of its Subsidiaries or materially impair the operation of the business of the Company or any
of its Subsidiaries;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens arising out of the leasing of personal property by the Company or any of its Subsidiaries in the ordinary course of business
up to an amount not exceeding in the aggregate, for the Company and its Subsidiaries, U.S.$40,000,000 (or the equivalent thereof, as of
any date of determination, in any other currency);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Lien created to secure all or any part of the purchase price, or to secure Indebtedness incurred or assumed to pay all or any
part of the purchase price or cost of construction, of property (or any improvement thereon) acquired or constructed by the Company or
any Subsidiary after the date of this Agreement, provided that</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any such Lien shall extend solely to the item or items of such property (or improvement thereon) so acquired or constructed and,
if required by the terms of the instrument originally creating such Lien, other property (or improvement thereon) which is an improvement
to or is acquired for specific use in connection with such acquired or constructed property (or improvement thereon) or which is real
property being improved by such acquired or constructed property (or improvement thereon),</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the principal amount of the Indebtedness secured by any such Lien shall at no time exceed an amount equal to 100% of the lesser
of (A)&nbsp;the cost to the Company or such Subsidiary of the property (or improvement thereon) so acquired or constructed and (B)&nbsp;the
fair market value (as determined in good faith by the board of directors of the Company) of such property (or improvement thereon) at
the time of such acquisition or construction, and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any such Lien shall be created contemporaneously with, or within 180 days after, the acquisition or construction of such property;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Lien existing on property of a Person immediately prior to its being consolidated with or merged into the Company or any Subsidiary
or its becoming a Subsidiary, or any Lien existing on any property acquired by the Company or any Subsidiary at the time such property
is so acquired (whether or not the Indebtedness secured thereby shall have been assumed), provided that (i)&nbsp;no such Lien shall have
been created or assumed in contemplation of such consolidation or merger or such Person becoming a Subsidiary or such acquisition of property,
and (ii)&nbsp;each such Lien shall extend solely to the item or items of property so acquired and, if required by the terms of the instrument
originally creating such Lien, other property which is an improvement to or is acquired for specific use in connection with such acquired
property;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reservations, conditions, limitations and exceptions contained in or implied by statute in the original disposition from the Crown
and grants made by the Crown of interests so reserved or accepted;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>security given in the ordinary course of business by the Company or any of its Subsidiaries to a public utility or any municipality
or governmental or public authority in connection with operations of the Company or any of its Subsidiaries (other than in connection
with borrowed money) securing not more than U.S.$5,000,000 (or the equivalent thereof, as of any date of determination, in any other currency);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in respect of Permitted Intercompany Loans;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens, incurred in the ordinary course of business for the purposes of securing the payment of any purchase price balance or the
refinancing of any purchase price balances of any assets (other than current assets (but including capital stock)) acquired by the Company
or any of its Subsidiaries provided that (i) any such Liens are restricted to the assets so acquired, (ii) the aggregate amount secured
by such Liens does not exceed U.S.$50,000,000 (or the equivalent thereof, as of any date of determination, in any other currency), and
(iii) in no event shall such Liens secure any Indebtedness outstanding under or pursuant to any Material Credit Facility; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in addition to those described in Subsections (a) through (m) above securing Indebtedness of the Company or any Subsidiary,
but only to the extent that the Indebtedness secured by each such Lien is permitted to be outstanding under Section 10.8 (provided, however,
that notwithstanding the foregoing, the Company shall not, and shall not permit any of the Subsidiaries to, secure any Indebtedness outstanding
under or pursuant to any Material Credit Facility pursuant to this Section 10.3(n)).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved].</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Leverage Ratio.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not at any time permit the Total Debt/EBITDA
Ratio to exceed 3.5 to 1.0.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Interest Coverage Ratio.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, as at the end of any fiscal quarter
of the Company, permit the Interest Coverage Ratio for the period of four fiscal quarters of the Company ending on the last day of such
fiscal quarter, to be less than 2.0 to 1.0.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subsidiary Indebtedness.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not permit any Subsidiary to, create,
assume, incur, guarantee or otherwise become liable in respect of any Indebtedness, excluding from the operation of this Section:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness outstanding on the date of this Agreement and specified in <U>Schedule 5.15</U> and any extension, renewal or refunding
thereof, <U>provided</U> that the principal amount thereof outstanding immediately before giving effect to such extension, renewal or
refunding is not increased;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of a Person outstanding at the time such Person becomes a Subsidiary (and not incurred in anticipation thereof) and
any extension, renewal or refunding thereof, <U>provided</U> that the principal amount thereof outstanding immediately before giving effect
to such extension, renewal or refunding is not increased;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of any Guarantor which is a Subsidiary&nbsp;incurred after the date of this Agreement;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness owing to the Company or any Guarantor; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness of a Subsidiary in addition to that otherwise permitted by the foregoing provisions of this Section 10.7, provided
that on the date the Subsidiary incurs or otherwise becomes liable with respect to any such additional Indebtedness and immediately after
giving effect thereto,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no Default or Event of Default exists, and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the total amount of all Indebtedness permitted to be outstanding pursuant to this Section 10.7(e) does not exceed Indebtedness
permitted to be outstanding under Section 10.8.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Limitation on Priority Debt.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, at any time, permit Priority
Debt to exceed 10% of Consolidated Total Tangible Assets (as determined at the end of the then most recently ended fiscal quarter of the
Company).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Disposition of Assets.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Subsidiary
to, directly or indirectly, sell, lease, transfer or otherwise dispose of (collectively a <B>&ldquo;Disposition&rdquo;</B>) any of its
properties or assets unless, after giving effect to such proposed Disposition, (i) no Default or Event of Default shall have occurred
and be continuing, (ii) the assets subject to such Disposition shall be sold for consideration not less than the fair market value of
such assets, (iii) the aggregate book value of all assets that were the subject of a Disposition during the period commencing on the first
day of the then current fiscal year of the Company and ending on the date of such proposed Disposition (the <B>&ldquo;Disposition Date&rdquo;</B>)
does not exceed 15% of Consolidated Total Assets as at the end of the fiscal year of the Company ended immediately prior to the Disposition
Date and (iv) the aggregate book value of all assets that were the subject of a Disposition during the period commencing as of December
31, 2021 through the applicable Disposition Date does not exceed 25% of Consolidated Total Assets as at the end of the fiscal year of
the Company ended immediately prior to such Disposition Date. Any Disposition of shares of stock of any Subsidiary shall, for purposes
of this Section, be valued at an amount that bears the same proportion to the total assets of such Subsidiary as the number of such shares
bears to the total number of shares of stock of such Subsidiary. Notwithstanding the foregoing, the following Dispositions shall not be
taken into account under this Section 10.9:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition pursuant to a transaction consummated in accordance with Section 10.2;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition of inventory, equipment, fixtures, supplies or materials made in the ordinary course of business at fair value;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition by a Guarantor to the Company or another Guarantor, or by any other Subsidiary to the Company or another Subsidiary;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>dispositions of shares in a Subsidiary, including a Wholly-Owned Subsidiary, to existing or new minority shareholders of such Subsidiary
in the ordinary course of business in connection with an acquisition of Persons previously owned by such shareholders or in connection
with incentive compensation arrangements; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Disposition the Net Proceeds of which are applied within 365 days of the related Disposition Date to either (A) the acquisition
by the Company or such Subsidiary, as the case may be, of operating assets of at least equivalent value to the assets which are the subject
of such Disposition (it being understood that &ldquo;operating assets&rdquo; shall not include cash or cash equivalents) or (B) the redemption
or repayment by the Company or such Subsidiary, as the case may be, of the Notes pursuant to an offer to make a prepayment or redemption
of Indebtedness pursuant to Section 8.4(a) and of any Indebtedness ranking pari passu with the Notes (other than any such Indebtedness
owing to the Company or any of its Subsidiaries or Affiliates and any such Indebtedness in respect of any revolving credit or similar
facility providing the Company or any of its Subsidiaries with the right to obtain loans or other extensions of credit from time to time,
except to the extent that in connection with repayment of such Indebtedness the availability of credit under such credit facility is permanently
reduced by an amount no less than the amount of such repayment). (To the extent that one or more holders do not accept the Disposition
Prepayment Offers or Secondary Disposition Prepayment Offers provided for in Section 8.4(a), the aggregate amount specified in such offers
(without duplication) shall be applied by the Company or such Subsidiary to the redemption or prepayment of other such Indebtedness ranking
pari passu with the Notes, if any, within such 365 day period.)</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.10.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Terrorism Sanction Regulations.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not and will not permit any Controlled
Entity (a)&nbsp;to become (including by virtue of being owned or controlled by a Blocked Person), own or control a Blocked Person or any
Person that is the target of sanctions imposed by the United Nations or by the European Union, or (b) directly or indirectly to have any
investment in or engage in any dealing or transaction (including, without limitation, any investment, dealing or transaction involving
the proceeds of the Notes) with any Person if such investment, dealing or transaction (i) would cause any holder to be in violation of
any law or regulation applicable to such holder, or (ii) is prohibited by or subject to sanctions under any U.S. Economic Sanctions, or
(c) to engage, nor shall any Affiliate of either engage, in any activity that could subject such Person or any holder to sanctions under
CISADA or any similar law or regulation with respect to Iran or any other country that is subject to U.S. Economic Sanctions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">10.11.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Line of Business.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will carry on diligently and conduct its
business in a proper and efficient manner so as to preserve and protect its properties, asset and income in a prudent manner consistent
with usual industry practice and the preservation of its business and assets, and it will cause its Subsidiaries to do the same in respect
of their respective businesses and assets and, in particular, without limiting the foregoing, it will not alter its business plan so as
to change materially the nature or scope of business, operations, or activities currently carried on by it or its Subsidiaries, without
obtaining the prior written consent of the Required Holders (which consent shall not be unreasonably withheld).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.12.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Restricted Payments.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit the Subsidiaries
to, make or permit any withdrawals or any other payments of money or equivalents thereof whatsoever (including, without limitation, royalties,
management fees, etc.) by or to the shareholders of the Company or its Affiliates, except for the following, in each case provided no
Event of Default has occurred and is continuing and no Event of Default will occur as a consequence thereof:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the payment of dividends, whether in cash or in specie;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>normal course distributions to minority shareholders of Subsidiaries of the Company as contemplated in the Company&rsquo;s annual
business plan and within limits approved by the Required Holders annually;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>distributions and returns of capital (whether by retirement, redemption, repurchase, cancellation or otherwise) and normal course
issuer bids of the Company;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments upon exercise of the put options under the Shareholders Agreements;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments upon exercise of the call options under the Shareholders Agreements; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payments on account of retirement, termination, death or disability, redemptions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.13.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Acquisitions.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Subsidiary
to,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any acquisition of any business other than the acquisition of an Eligible Business;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>invest in investments and/or provide financial assistance, including, without limitation, to Unrestricted Entities exceeding an
aggregate initial investment value of U.S.$75,000,000 at any time; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>establish, incorporate, otherwise form, charter or create any new Subsidiary other than in connection with the acquisition of an
Eligible Business or other than in the ordinary course of business.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.14.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Amendments to Call Options.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not make, or permit the making of,
any change or modification to the call option provisions in the Shareholders Agreements.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">10.15.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT>Canadian Pension Plans.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will not, and will not permit any Subsidiary
to, (a) establish or contribute to any Canadian Defined Benefit Pension Plan, or (b) acquire an interest in any Person if such Person
sponsors, administers, maintains or contributes to, or has any liability in respect of any Canadian Defined Benefit Pension Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">EVENTS OF DEFAULT.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">An <B>&ldquo;Event of Default&rdquo;</B> shall exist
if any of the following conditions or events shall occur and be continuing:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default shall be made in the payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable,
whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>default shall be made in the payment of any interest on any Note for more than three Business Days after the same becomes due and
payable; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>except as expressly permitted by Section 10.2, the Company or any of its Subsidiaries cease or threatens to cease to carry on all
or substantial part of the business currently carried on by the Company or such Subsidiary, or default shall be made</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company in the performance of or compliance with any term contained in Section 10.2, the proviso to Section 10.3(n), Section
10.4, Section 10.5, Section 10.6, Section 10.8, Section 10.9, Section 10.12, Section 10.13(a) or Section 10.15; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company if the Company fails (x) to make a Disposition Prepayment Offer or a Secondary Disposition Prepayment Offer, in
each case, in accordance with Section 8.4(a), or (y) to give a Change of Control Prepayment Notice or to make a Change of Control Prepayment
Offer, in each case, in accordance with Section 8.4(b); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company in the performance of or compliance with any other term contained herein or in any other Financing Document (other
than those referred to in paragraphs&nbsp;(a), (b), (c)(i) and (c)(ii) of this Section&nbsp;11) and (to the extent that such default is
capable of being remedied and during the 10 Business Day period referred to below the Company is proceeding actively and diligently in
good faith to remedy such default to the satisfaction of the Required Holders) such default is not remedied within 10 Business Days after
the earlier of (x) a Responsible Officer obtaining actual knowledge of such default and (y) the Company receiving written notice of such
default from any holder of a Note (any such written notice to be identified as a &ldquo;notice of default&rdquo; and to refer specifically
to this paragraph (c)(iii) of Section 11); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any representation, warranty or certification made in writing by or on behalf of the Company or any Guarantor or by any officer
of the Company or any Guarantor in this Agreement, any Guarantee or any other Financing Document, or in any writing furnished in connection
with the transactions contemplated hereby, proves to have been false or incorrect in any material respect on the date as of which made;
or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) any Event of Default under and as defined in the Credit Agreement, the 2015 Note Purchase Agreement or the 2022 Prudential
Shelf Agreement (or an event of default under any agreement, document or instrument evidencing any other Material Credit Facility) shall
have occurred and be continuing, or (ii) the Company or any Subsidiary is in default (as principal or as guarantor or other surety) in
the payment of any principal of or premium or make-whole amount or interest on any other Indebtedness that is outstanding in an aggregate
principal amount equal to at least U.S.$50,000,000 (or the equivalent thereof, as of any date of determination, in any other currency)
beyond any period of grace provided with respect thereto, or (iii) the Company or any Subsidiary is in default in the performance of or
compliance with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount equal to at least U.S.$50,000,000
(or the equivalent thereof, as of any date of determination, in any other currency) or of any mortgage, indenture or other agreement relating
thereto or any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared
(or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly
scheduled dates of payment, or (iv) as a consequence of the occurrence or continuation of any event or condition (other than the passage
of time or the right of the holder of Indebtedness to convert such Indebtedness into equity interests), (x) the Company or any Subsidiary
has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of payment
in an aggregate outstanding principal amount equal to at least U.S.$50,000,000 (or the equivalent thereof, as of any date of determination,
in any other currency) of (y) or one or more Persons have the right to require the Company or any Subsidiary so to purchase or repay such
Indebtedness;&nbsp;or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company or any Subsidiary (i)&nbsp;is generally not paying, or admits in writing its inability to pay, its debts as they become
due, (ii)&nbsp;files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement
or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or
other similar law of any jurisdiction, (iii)&nbsp;makes an assignment for the benefit of its creditors, (iv)&nbsp;consents to the appointment
of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its
property, (v)&nbsp;is adjudicated as bankrupt, insolvent or to be liquidated, or (vi)&nbsp;takes corporate, partnership, company or other
similar action for the purpose of any of the foregoing; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a court or Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company, or any
Subsidiary, a custodian, receiver, monitor, sequestrator, trustee or other officer with similar powers with respect to it or with respect
to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any
other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of the Company or any Subsidiary, or any such petition shall be filed against the Company or
any Subsidiary and such petition shall not be dismissed within 30 days; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an application or an order is made, proceedings are commenced, or an application to a court or other steps are taken for the winding
up, liquidation, dissolution or administration of the Company or any Subsidiary, or a receiver, receiver and manager, administrative receiver,
monitor, sequestrator, trustee or similar officer is appointed to all or any of the assets and undertakings of the Company or any Subsidiary,
and such appointment continues undischarged for 30 days; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>one or more final judgments or orders for the payment of money aggregating in excess of an amount equal to 15% of Consolidated
Net Worth as of the end of the most recently ended fiscal quarter of the Company (or the equivalent thereof, as of any date of determination,
in any other currency), including, without limitation, any such final order enforcing a binding arbitration decision, are rendered against
one or more of the Company and its Subsidiaries and which judgments are not, within 30 days after entry thereof, bonded, discharged or
stayed pending appeal, or are not discharged within 30 days after the expiration of such stay; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if (i)&nbsp;any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof
or a waiver of such standards or extension of any amortization period is sought or granted under section&nbsp;412 of the Code, (ii) a
notice of intent to terminate&nbsp;any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have
instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified
the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii)&nbsp;the aggregate &ldquo;amount of
unfunded benefit liabilities&rdquo; (within the meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with
Title IV of ERISA, shall exceed an amount equal to 15% of Consolidated Net Worth as of the end of the most recently ended fiscal quarter
of the Company, (iv)&nbsp;the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant
to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any
ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare
benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary
thereunder; and any such event or events described in clauses (i) through (vi) above, either individually or together with any other such
event or events and any failure or failures referred to in Section 11(k), could reasonably be expected to have a Material Adverse Effect;
or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) the aggregate accumulated funding deficiency or other unfunded liability with respect to all Foreign Pension Plans (other than
pension plans) maintained by the Company and its Subsidiaries exceeds an amount equal to 15% of Consolidated Net Worth as of the end of
the most recently ended fiscal quarter of the Company (or its equivalent in other currencies), (ii) the accumulated funding deficiency
or other unfunded liability with respect to any Foreign Pension Plan that is a pension plan maintained by the Company or any Subsidiary
exceeds the maximum amount prescribed by any applicable laws or regulations of any Governmental Authority, or (iii) the Company or any
Subsidiary shall otherwise fail to comply with any laws, regulations or orders in the establishment, administration or maintenance of
any Foreign Pension Plan or shall fail to pay or accrue any premiums, contributions or other amounts required by applicable Foreign Pension
Plan documents or applicable laws; and any such failure either individually or in the aggregate together with any event or events referred
to in Section 11(j), could reasonably be expected to have a Material Adverse Effect; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) the obligations of the Company or any Guarantor under any Guarantee or any other Financing Document to which such Person is
a party, as the case may be, shall cease to be in full force and effect (except to the extent any such Financing Document has been terminated
in accordance with Section 9.8(a)) or shall be declared by a court or other Governmental Authority of competent jurisdiction to be void,
voidable or unenforceable against such Person, (ii) the Company, any Guarantor or any Person acting on behalf of the Company or any Guarantor
shall contest in any manner the validity, binding nature or enforceability of any Guarantee or other Financing Document, or (iii) the
Company or any Guarantor shall deny that it has any further liability or obligation under any Guarantee or other Financing Document, as
the case may be.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">As used in Section 11(j), the terms <B>&ldquo;employee
benefit plan&rdquo;</B> and <B>&ldquo;employee welfare benefit plan&rdquo;</B> shall have the respective meanings assigned to such terms
in section 3 of ERISA.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify">REMEDIES ON DEFAULT, ETC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">12.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Acceleration.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If an Event of Default with respect to the Company described in paragraph&nbsp;(f), (g) or (h) of Section 11 (other than an Event
of Default described in clause (i) of paragraph&nbsp;(f) or described in clause (vi) of paragraph&nbsp;(f) by virtue of the fact that
such clause encompasses clause (i) of paragraph&nbsp;(f)) has occurred, all the Notes then outstanding shall automatically become immediately
due and payable and the Facility shall automatically terminate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any other Event of Default has occurred and is continuing, the Required Holders may at any time at their option, by notice or
notices to the Company, declare all the Notes then outstanding to be immediately due and payable, and New York Life may, at its option,
by notice in writing to the Company, terminate the Facility.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any Event of Default described in paragraph&nbsp;(a) or (b) of Section 11 has occurred and is continuing, any holder or holders
of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the
Company, declare all the Notes held by it or them to be immediately due and payable.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Upon any Notes becoming due and payable under this
Section&nbsp;12.1, whether automatically or by declaration, such Notes will forthwith mature and the entire unpaid principal amount of
such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the Default Rate)
and (y) the applicable Make-Whole Amount determined in respect of such principal amount (to the full extent permitted by applicable law),
shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which
are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment
in the Notes free from repayment by the Company (except as herein specifically provided for) and that the provision for payment of a Make-Whole
Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide
compensation for the deprivation of such right under such circumstances.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">12.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other Remedies.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">If any Default or Event of Default has occurred and
is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1,
the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit
in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note or in
any other Financing Document, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise
of any power granted hereby or thereby or by law or otherwise.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">12.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rescission.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">At any time prior to the date which is 90 days after
any Notes have been declared due and payable pursuant to paragraph (b) or (c) of Section 12.1, the Required Holders, by written notice
to the Company, may rescind and annul any such declaration and its consequences if (a)&nbsp;the Company has paid all overdue interest
on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason
of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable
law) any overdue interest in respect of the Notes, at the Default Rate, (b)&nbsp;neither the Company nor any other Person shall have paid
any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment
of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section&nbsp;19,
and (d)&nbsp;no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and
annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">12.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Waivers or Election of Remedies, Expenses, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">No course of dealing and no delay on the part of any
holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder&rsquo;s
rights, powers or remedies. No right, power or remedy conferred on any holder of a Note by this Agreement, any Note or any other Financing
Document shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in
equity, by statute or otherwise. Without limiting the obligations of the Company under Section 17, the Company will pay to the holder
of each Note on demand such further amount as shall be sufficient to cover all costs and expenses of such holder incurred in any enforcement
or collection under this Section 12, including, without limitation, reasonable attorneys&rsquo; fees, expenses and disbursements.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify">TAX INDEMNIFICATION.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any and all payments under this Agreement or the Notes to or for the account of any holder of a Note shall be made free and clear
of, and without deduction or withholding for or on account of, any Tax, except to the extent such deduction or withholding is required
by law. If any Tax is required by law to be deducted or withheld from any such payments by the Company, the Company will make such deductions
or withholding and pay to the relevant taxing authority the full amount deducted or withheld (including, without limitation, the full
amount of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any payment made to any holder pursuant
to this Subsection (a) as provided below) before penalties attach thereto or interest accrues thereon. In the event of the imposition
by or for the account of any Applicable Taxing Authority or of any Governmental Authority of any jurisdiction in which the Company resides
for tax purposes or any jurisdiction from or through which the Company is making any payment in respect of any Note, other than any Governmental
Authority of or in the United States of America or any political subdivision thereof or therein, of any Tax (<B>&ldquo;Indemnifiable Tax&rdquo;</B>)
upon or with respect to any payments in respect of any Note, whether by withholding or otherwise, the Company hereby agrees to pay forthwith
from time to time in connection with each payment on the Notes, to each holder of a Note such additional amounts as shall be required
so that every payment received by such holder in respect of the Notes and every payment received by such holder under this Agreement will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Indemnifiable Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid
to such holder pursuant to this Subsection (a)) and any interest or penalties relating thereto, be less than the amount due and payable
to such holder in respect of such Note or under this Agreement before the assessment of such Indemnifiable Tax. In addition, the Company
shall indemnify each holder of Notes for the full amount of Indemnifiable Taxes paid or required to be paid by such holder on amounts
payable pursuant to this Agreement or the Notes and any liability (including penalties, interest and expenses) arising therefrom, together
with such amounts as will result in such holder of Notes receiving the amount that would otherwise have been received by it in the absence
of such Indemnifiable Taxes and the indemnification provided for herein. Except where the Company is required to deduct or withhold any
Indemnifiable Tax, each holder of Notes, upon becoming aware of its liability (or potential liability) for any Indemnifiable Taxes, shall
promptly notify the Company of such liability (or potential liability) for such Indemnifiable Taxes for which the Company is required
to indemnify such holder pursuant to this Subsection (a) and of the amount payable to it by the Company pursuant hereto, and the Company
shall pay such amounts either (x) directly to the Applicable Taxing Authority or other relevant Governmental Authority that imposed such
Indemnifiable Taxes, as the case may be, on or before the date such Indemnifiable Taxes are due or (y) if such holder of Notes has already
paid such Indemnifiable Taxes, to such holder of Notes within 10 days of the receipt of such notice (and, if such Indemnifiable Taxes
are not paid on or before the date specified in clause (x) or within the period specified in clause (y), as the case may be, shall bear
interest at the Default Rate thereafter). Such holder of Notes shall determine the amount payable to it, which determination shall be
conclusive in the absence of manifest error, and such holder shall provide the basis for determining such Indemnifiable Taxes with reasonable
specificity; provided that such holder shall not be required to disclose any confidential or proprietary information in connection therewith.
Notwithstanding anything contained in this Subsection (a) to the contrary, the Company shall not be obliged to pay such amounts to any
holder of a Note in respect of Indemnifiable Taxes to the extent Indemnifiable Taxes exceed the Indemnifiable Taxes that would have been
payable:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not been a resident of Canada within the meaning of the <I>Income Tax Act </I>(Canada) or not used or held such
Note in the course of carrying on a business in Canada within the meaning of the <I>Income Tax Act</I> (Canada); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not had any connection with Canada or any territory or political subdivision thereof other than the mere holding
of a Note with the benefit of the Guarantees (or the receipt of any payments in respect thereof) or activities incidental thereto (including
enforcement thereof); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>had such holder not dealt with the Company on a non-arm&rsquo;s length basis (within the meaning of the <I>Income Tax Act</I> (Canada))
in connection with any such payment; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>but for the delay or failure by such holder (following a written request by the Company) in the filing with an appropriate Governmental
Authority or otherwise of forms, certificates, documents, applications or other reasonably required evidence (collectively <B>&ldquo;Forms&rdquo;</B>),
that are required to be filed by such holder to avoid or reduce such Taxes (so long as such Forms do not impose, in such holder&rsquo;s
reasonable determination, an unreasonable burden in time, resources or otherwise on such holder) and that in the case of any of the foregoing
would not result in any confidential or proprietary income tax return information being revealed, either directly or indirectly, to any
Person and such delay or failure could have been lawfully avoided by such holder, <U>provided</U> that such holder shall be deemed to
have satisfied the requirements of this clause (iv) upon the good faith completion and submission of such Forms as may be specified in
a written request of the Company no later than 45 days after receipt by such holder of such written request (<U>provided</U>, that if
such Forms are Forms required pursuant to the laws of any jurisdiction other than the United States of America or any political subdivision
thereof, such written request shall be accompanied by such Forms in English or with an English translation thereof).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Within 60 days after the date of any payment by the Company of any Tax pursuant to Subsection (a) in respect of any payment under
the Notes or this Section 13, the Company shall furnish to each holder of a Note the original tax receipt for the payment of such Tax
(or if such original tax receipt is not available, a duly certified copy of the original tax receipt), together with such other documentary
evidence with respect to such payments as may be reasonably requested from time to time by any holder of a Note. If the Company shall
have determined, with respect to any holder of Notes, that a deduction or withholding of Tax is required to be made with respect to such
holder and that no amounts are required to be paid to such holder under Subsection (a) of this Section&nbsp;13 as the result of an exemption
therefrom as provided in Subsection (a), the Company shall promptly inform such holder, in writing, of the imposition or withholding of
such Tax and of the applicable exemption set forth in Subsection (a) that the Company claims releases the Company from the obligation
to pay any such amount otherwise payable under Subsection (a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations of the Company under this Section 13 shall survive the transfer or payment of any Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company has made a payment to or on account of any holder of a Note pursuant to Subsection (a) above and such holder is
entitled to a refund of the Tax to which such payment is attributable from the Governmental Authority to which the payment of the Tax
was made and such refund is readily determinable by such holder (such amount to be no greater than an amount that, if paid to the Company
by such holder, would leave such holder in no worse position than would have existed had such Tax not been required by law to be paid)
and can be obtained by filing one or more Forms (so long as such Forms do not impose, in such holder&rsquo;s reasonable determination,
an unreasonable burden in time, resources or otherwise on such holder), then (i) such holder shall, as soon as practicable after receiving
a written request therefor from the Company (which request shall specify in reasonable detail the Forms to be filed), file such Forms
and (ii)&nbsp;upon receipt of such refund, if any, promptly pay over such refund to the Company without interest. This Subsection (d)
shall not require any holder of Notes: (x) to account for any indirect taxation benefits arising from the deducting or withholding of
any Tax, (y) to disclose any confidential or proprietary information, or (z) to arrange its tax or financial affairs in any particular
manner.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify">[RESERVED].</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify">REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">15.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Registration of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company shall keep at its principal executive office
a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each
transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register (it being understood
that the Company shall have no obligation to verify such names and addresses and shall only record in the register information it receives
from the holders). If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial owner of such Note
or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such beneficial owner&rsquo;s option,
either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this Agreement. Prior to due presentment
for registration of transfer, the Person(s) in whose name any Note(s) shall be registered shall be deemed and treated as the owner and
holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the contrary. The Company
shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the
names and addresses of all registered holders of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">15.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transfer and Exchange of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Upon surrender of any Note at the principal executive
office of the Company for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied
by a written instrument of transfer duly executed by the registered holder of such Note or such holder&rsquo;s attorney duly authorized
in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof),
within ten (10) Business Days thereafter, the Company shall execute and deliver, at the Company&rsquo;s expense (except as provided below),
one or more new Notes (as requested by the holder thereof) of the same Series as such surrendered Note in exchange therefor, in an aggregate
principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such
holder may request and shall be substantially in the form of <U>Exhibit&nbsp;A-1</U> or <U>Exhibit A-2</U>, as the case may be. Each such
new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date
of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any
stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of
less than U.S.$100,000, <U>provided</U> that if necessary to enable the registration of transfer by a holder of its entire holding of
Notes, one Note may be in a denomination of less than U.S.$100,000. Any transferee, by its acceptance of a Note registered in its name
(or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">15.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Replacement of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Upon receipt by the Company at the address and to the
attention of the designated officer (all as specified in Section 20) of evidence reasonably satisfactory to it of the ownership of and
the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from
such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it (<U>provided</U> that if the holder of such
Note is, or is a nominee for, a Purchaser or another holder of a Note with a minimum net worth of at least U.S.$10,000,000 in excess of
the outstanding principal amount of such Note or a Qualified Institutional Buyer, such Person&rsquo;s own unsecured agreement of indemnity
shall be deemed to be satisfactory), or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of mutilation, upon surrender and cancellation thereof,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">within ten (10) Business Days thereafter, the Company
at its own expense shall execute and deliver, in lieu thereof, a new Note of the same Series as such lost, stolen, destroyed or mutilated
Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note
or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify">PAYMENTS ON NOTES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">16.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Place of Payment.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Subject to Section 16.2, payments of principal, Make-Whole
Amount, if any, and interest becoming due and payable on the Notes shall be made in New York, New York at the principal office of JPMorgan
Chase Bank, N.A. in such jurisdiction. The Company may at any time, by notice to each holder of a Note, change the place of payment of
the Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction or the principal office
of a bank or trust company in New York, New York.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">16.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Home Office Payment.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">So long as any Purchaser or any nominee of such Purchaser
shall be the holder of any Note, and notwithstanding anything contained in Section 16.1 or in such Note to the contrary, the Company will
pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest, and any other amounts which may become
owing under this Agreement or the Notes, (a) by the method and at the address specified for such purpose below such Purchaser&rsquo;s
name in <U>Schedule A</U> hereto (in the case of the Series A Notes) or as specified in such Purchaser&rsquo;s Confirmation of Acceptance
(in the case of any Series of Shelf Notes) with respect to such Note or (b) by such other method or at such other address or to such other
account or accounts in the United States as such Purchaser shall have from time to time specified to the Company in writing for such purpose,
notwithstanding any contrary provision herein or in any Note with respect to the place of payment, without the presentation or surrender
of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably
promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly
after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company
pursuant to Section 16.1. Prior to any sale or other disposition of any Note held by any Purchaser or any nominee of such Purchaser, such
Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been
paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section&nbsp;15.2. The Company will
afford the benefits of this Section 16.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased
by any Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section
16.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">17.</TD><TD STYLE="text-align: justify">EXPENSES, ETC.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">17.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transaction Expenses.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Whether or not the transactions contemplated hereby
are consummated, the Company will pay all costs and expenses (including reasonable attorneys&rsquo; fees of a special U.S. counsel and,
if reasonably required by the Required Holders, local or other counsel) incurred by New York Life, the Purchasers and each other holder
of a Note in connection with such transactions, and with any amendments, waivers or consents under or in respect of this Agreement, the
Notes or the other Financing Documents (whether or not such amendment, waiver or consent becomes effective) within 15 Business Days after
the Company&rsquo;s receipt of any invoice therefor, including, without limitation: (a) the costs and expenses incurred in enforcing or
defending (or determining whether or how to enforce or defend) any rights under this Agreement, the Notes or the other Financing Documents
or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement, the
Notes or the other Financing Documents, or by reason of being a holder of any Note, (b) the costs and expenses, including reasonable financial
advisors&rsquo; fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with
any work-out or restructuring of the transactions contemplated hereby and by the Financing Documents, and (c) the costs and expenses incurred
in connection with the initial filing of this Agreement and all related documents and financial information with the SVO provided, that
such costs and expenses under this clause (c) shall not exceed U.S.$5,000. The Company will pay, and will save New York Life, each Purchaser
and each other holder of a Note harmless from, (i) all claims in respect of any fees, costs or expenses, if any, of brokers and finders
(other than those, if any, retained by such Purchaser or other holder in connection with the purchase of the Notes), and (ii) any and
all wire transfer fees that any bank deducts from any payment to New York Life or under such Note to such holder or otherwise charges
to a holder of a Note with respect to a payment under such Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">17.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Taxes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will pay all stamp, documentary or similar
taxes which may be payable in respect of the execution and delivery of this Agreement, any of the Notes or any other Financing Documents
or of any amendment of, or waiver or consent under or with respect to, this Agreement, any of the Notes or any other Financing Documents
and will save each holder of a Note harmless against any loss or liability resulting from nonpayment or delay in payment of any such tax
required to be paid by the Company hereunder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">17.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Survival.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The obligations of the Company under this Section&nbsp;17
will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement, the Notes or
the other Financing Documents, and the termination of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">18.</TD><TD STYLE="text-align: justify">SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All representations and warranties contained herein
and in the other Financing Documents shall survive the execution and delivery of this Agreement, the Notes and the other Financing Documents,
and the purchase or transfer by each Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and until
all amounts which may be or become payable by the Company or any Guarantor under or in connection with this Agreement, the Notes or any
other Financing Documents have been irrevocably paid in full. All such representations and warranties may be relied upon by any subsequent
holder of a Note, regardless of any investigation made at any time by or on behalf of any Purchaser or any other holder of a Note. All
statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement or any
other Financing Document shall be deemed representations and warranties of the Company under this Agreement. Subject to the preceding
sentence, this Agreement, the Notes and the other Financing Documents embody the entire agreement and understanding between New York Life,
the Purchasers and the Company and supersede all prior agreements and understandings relating to the subject matter hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">19.</TD><TD STYLE="text-align: justify">AMENDMENT AND WAIVER.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">19.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Requirements.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Agreement and the Notes may be amended, and the
observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written
consent of the Company and the Required Holders, except that (a) with the written consent of New York Life (and without the consent of
the Purchasers or any other holder of Notes) the provisions of Sections 2.2 and 4.1 may be amended or waived (except insofar as any such
amendment or waiver would affect any rights or obligations with respect to the purchase and sale of Notes which shall have become Accepted
Notes prior to such amendment or waiver), (b) with the written consent of all of the Purchasers which shall have become obligated to purchase
Accepted Notes of any Series (and not without the written consent of all such Purchasers), any of the provisions of Sections 2.2, 3.2
and 4.2 may be amended or waived insofar as such amendment or waiver would affect only rights or obligations with respect to the purchase
and sale of the Accepted Notes of such Series or the terms and provisions of such Accepted Notes, (c) no amendment or waiver of any of
the provisions of Section&nbsp;1, 2, 3, 4, 5, or 6 hereof, or any defined term (as it is used therein), will be effective as to any Purchaser
unless consented to by such Purchaser in writing, and (d) no amendment or waiver may, without the written consent of each Purchaser and
the holder of each Note at the time outstanding affected thereby, (i)&nbsp;subject to the provisions of Section&nbsp;12 relating to acceleration
or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment
or method of computation of (x) interest on the Notes or (y) the Make-Whole Amount, (ii)&nbsp;change the percentage of the principal amount
of the Notes the holders of which are required to consent to any amendment or waiver, or (iii)&nbsp;amend any of Sections 8 (except as
set forth in the first sentence of Section 8.5), 11(a), 11(b), 12, 13, 14, 19, 22 or 25.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">19.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Solicitation of Holders of Notes.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Solicitation</U>. The Company will provide New York Life and each holder of the Notes (irrespective of the amount of Notes then
owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable New York Life and
such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of
the provisions hereof or of the Notes or of any other Financing Document. The Company will deliver executed or true and correct copies
of each amendment, waiver or consent effected pursuant to the provisions of this Section&nbsp;19 to each holder of outstanding Notes promptly
following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment</U>. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental
or additional interest, fee or otherwise, or grant any security or provide credit support, to any holder of Notes as consideration for
or as an inducement to the entering into by any holder of Notes of any waiver or amendment of any of the terms and provisions hereof or
any other Financing Document unless such remuneration is concurrently paid, or security is concurrently granted or other credit support
concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such
waiver or amendment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">19.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Binding Effect, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Any amendment or waiver consented to as provided in
this Section&nbsp;19 applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon
the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will
extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right
consequent thereon. No course of dealing between the Company and the holder of any Note nor any delay in exercising any rights hereunder
or under any Note or under any other Financing Document shall operate as a waiver of any rights of any holder of such Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">19.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notes held by the Company, etc.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Solely for the purpose of determining whether the holders
of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver
or consent to be given under this Agreement or the Notes or any other Financing Document, or have directed the taking of any action provided
herein, in the Notes or in any other Financing Document to be taken upon the direction of the holders of a specified percentage of the
aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any Affiliate of the Company
shall be deemed not to be outstanding.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.</TD><TD STYLE="text-align: justify">NOTICES.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All notices and communications provided for hereunder
shall be in writing and sent by (a)&nbsp;electronic mail (e-mail), (b) telefacsimile if the sender on the same day sends a confirming
copy of such notice by an internationally recognized overnight delivery service (charges prepaid), or (c)&nbsp;an internationally recognized
overnight delivery service (with charges prepaid). Any such notice must be sent:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to any Purchaser or its nominee, to such Purchaser or nominee at the address (or telefacsimile number or email address) specified
for such communications in (A) <U>Schedule A</U> hereto (in the case of the Series A Notes, or (B) in the Purchaser Schedule attached
to the applicable Confirmation of Acceptance (in the case of Shelf Notes) held by such Purchaser, or in each case, at such other address
(or telefacsimile number or email address) as such Purchaser or nominee shall have specified to the Company in writing,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to any other holder of any Note, to such holder at such address (or telefacsimile number or email address) as such other holder
shall have specified to the Company in writing, or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to the Company, to the Company at its address set forth at the beginning hereof to the attention of Douglas G. Cooke, or at
such other address (or telefacsimile number or email address) as the Company shall have specified to the holder of each Note in writing,
or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if to New York Life, to New York Life at its address set forth in the addressee line to this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Notices under this Section 20 will be deemed given only
when actually received.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">21.</TD><TD STYLE="text-align: justify">REPRODUCTION OF DOCUMENTS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Agreement, the other Financing Documents and all
documents relating thereto, including, without limitation, (a)&nbsp;consents, waivers and modifications that may hereafter be executed,
(b)&nbsp;documents received by any Purchaser at the Closing (except the Notes themselves), and (c)&nbsp;financial statements, certificates
and other information previously or hereafter furnished to any holder of Notes, may be reproduced by such holder of Notes by any photographic,
photostatic, electronic, digital or other similar process and such holder of Notes may destroy any original document so reproduced. The
Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as
the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such
reproduction was made by such holder of Notes in the regular course of business) and any enlargement, facsimile or further reproduction
of such reproduction shall likewise be admissible in evidence. This Section 21 shall not prohibit the Company or any holder of Notes from
contesting any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the
inaccuracy of any such reproduction.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">22.</TD><TD STYLE="text-align: justify">CONFIDENTIAL INFORMATION.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">For the purposes of this Section 22, <B>&ldquo;Confidential
Information&rdquo;</B> means information delivered to New York Life or any holder of Notes by or on behalf of the Company or any Subsidiary
in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was
clearly marked or labeled or otherwise adequately identified when received by New York Life or such holder of Notes as being confidential
information of the Company or such Subsidiary, <U>provided</U> that such term does not include information that (a)&nbsp;was publicly
known or otherwise known to New York Life or such holder of Notes prior to the time of such disclosure, (b)&nbsp;subsequently becomes
publicly known through no act or omission by New York Life or such holder of Notes or any Person acting on New York Life&rsquo;s or such
holder&rsquo;s behalf, (c)&nbsp;otherwise becomes known to New York Life or such holder of Notes other than through disclosure by the
Company or any Subsidiary or (d) constitutes financial statements delivered to New York Life or such holder of Notes under Section 7.1
that are otherwise publicly available. New York Life and each holder of Notes will maintain the confidentiality of such Confidential Information
in accordance with procedures adopted by New York Life and such holder of Notes in good faith to protect confidential information of third
parties delivered to New York Life or such holder of Notes, <U>provided</U> that New York Life and such holder of Notes may deliver or
disclose Confidential Information to (i)&nbsp;New York Life&rsquo;s or such holder&rsquo;s directors, officers, employees, agents, attorneys,
trustees, members, partners, equity holders and affiliates (to the extent such disclosure reasonably relates to the administration of
this Agreement and the investment represented by such holder&rsquo;s Notes), (ii) New York Life&rsquo;s or such holder&rsquo;s auditors,
financial advisors and other professional advisors who agree (for the benefit of the Company) to hold confidential the Confidential Information
substantially in accordance with the terms of this Section 22, (iii)&nbsp;any other holder of any Note, (iv)&nbsp;any Institutional Investor
to which such holder of Notes sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed
in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section&nbsp;22), (v)&nbsp;any
Person from which such holder of Notes offers to purchase any security of the Company (if such Person has agreed in writing prior to its
receipt of such Confidential Information to be bound by the provisions of this Section&nbsp;22), (vi)&nbsp;any federal or state regulatory
authority having jurisdiction over New York Life or such holder of Notes, (vii)&nbsp;the NAIC or the SVO or any similar organization,
or any nationally recognized rating agency that requires access to information about New York Life&rsquo;s or such holder&rsquo;s investment
portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w)&nbsp;to effect compliance
with any law, rule, regulation or order applicable to such holder of Notes, (x)&nbsp;in response to any subpoena or other legal process,
(y)&nbsp;to the extent reasonably required of New York Life or such holder of Notes, in connection with any litigation to which New York
Life or such holder of Notes is a party or (z)&nbsp;if an Event of Default has occurred and is continuing, to the extent New York Life
or such holder of Notes may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for
the protection of the rights and remedies under such holder&rsquo;s Notes, this Agreement or the other Financing Documents. Each holder
of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section
22 as though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of
a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that
is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this
Section 22.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In the event that as a condition to receiving access
to information relating to the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to
this Agreement, New York Life or any holder of a Note is required to agree to a confidentiality undertaking (whether through IntraLinks,
another secure website, a secure virtual workspace or otherwise) which is different from this Section 22, this Section 22 shall not be
amended thereby and, as between New York Life or such holder and the Company, this Section 22 shall supersede any such other confidentiality
undertaking.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">23.</TD><TD STYLE="text-align: justify">[RESERVED].</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">24.</TD><TD STYLE="text-align: justify">JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">THE COMPANY AGREES THAT ANY LEGAL ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE NOTES, ANY OTHER FINANCING DOCUMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH,
OR ANY LEGAL ACTION OR PROCEEDING TO EXECUTE OR OTHERWISE ENFORCE ANY JUDGMENT OBTAINED AGAINST THE COMPANY FOR BREACH HEREOF OR THEREOF,
OR AGAINST ANY OF ITS PROPERTIES, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK BY ANY PURCHASER OR ON ANY PURCHASER&rsquo;S BEHALF OR BY OR ON BEHALF OF ANY HOLDER OF A NOTE, AS ANY PURCHASER
OR SUCH HOLDER MAY ELECT, AND THE COMPANY HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF SUCH COURTS
FOR PURPOSES OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY HEREBY IRREVOCABLY APPOINTS AND DESIGNATES CORPORATION SERVICE COMPANY,
WHOSE ADDRESS IS 19 WEST 44TH STREET, SUITE 200, NEW YORK, NY 10036, OR ANY OTHER PERSON HAVING AND MAINTAINING A PLACE OF BUSINESS IN
THE STATE OF NEW YORK WHOM THE COMPANY MAY FROM TIME TO TIME HEREAFTER DESIGNATE (HAVING GIVEN 30 DAYS&rsquo; NOTICE THEREOF TO EACH HOLDER
OF A NOTE THEN OUTSTANDING), AS THE DULY AUTHORIZED AGENT FOR ACCEPTANCE OF SERVICE OF LEGAL PROCESS OF THE COMPANY. THE COMPANY HEREBY
AGREES THAT SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE EFFECTED BY SERVING NOTICE UPON CORPORATION SERVICE COMPANY OR ANY SUCH OTHER
PERSON AND BY MAILING NOTICE OF SUCH SERVICE BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID,
TO IT AT ITS ADDRESS SPECIFIED IN SECTION 20 OR AT SUCH OTHER ADDRESS OF WHICH EACH HOLDER OF A NOTE SHALL HAVE BEEN NOTIFIED PURSUANT
THERETO<FONT STYLE="text-transform: uppercase">. Nothing in this Section 24 shall affect the right of any holder of a Note to serve process
in any manner permitted by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Company
in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other
jurisdiction. IN A</FONT>DDITION, THE COMPANY HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTES,
ANY OTHER FINANCING DOCUMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE
UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN
ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH
RESPECT TO THIS AGREEMENT, THE NOTES, THE GUARANTEES AND ANY OTHER FINANCING DOCUMENTS OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH
OR THEREWITH.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">25.</TD><TD STYLE="text-align: justify">OBLIGATION TO MAKE PAYMENTS IN U.S. DOLLARS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All payments made by the Company under this Agreement,
the Notes or any other Financing Document, as the case may be, shall be in U.S. Dollars and the obligations of the Company to make payments
in U.S. Dollars of any of its obligations under this Agreement, the Notes or any other Financing Document shall not be discharged or satisfied
by any tender, or any recovery pursuant to any judgment, which is expressed in or converted into any currency other than U.S. Dollars,
except to the extent such tender or recovery shall result in the actual receipt by the holder of any Note of the full amount of U.S. Dollars
expressed to be payable in respect of any such obligations. The obligation of the Company to make payments in U.S. Dollars as aforesaid
shall be enforceable as an alternative or additional cause of action for the purpose of recovery in U.S. Dollars of the amount, if any,
by which such actual receipt shall fall short of the full amount of U.S. Dollars expressed to be payable in respect of any such obligations,
and shall not be affected by judgment being obtained for any other sums due under this Agreement, the Notes or any other Financing Document.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.</TD><TD STYLE="text-align: justify">MISCELLANEOUS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Successors and Assigns.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All covenants and other agreements contained in this
Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including,
without limitation, any subsequent holder of a Note) whether so expressed or not.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">26.2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payments Due on Non-Business Days.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Anything in this Agreement or the Notes or any other
Financing Document to the contrary notwithstanding (but without limiting the requirement in Section 8.5 and Section 8.7 that the notice
of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount
or interest on any Note (or any amount payable by the Company to any holder of the Notes pursuant to Section 13(a) hereof) that is due
on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in
the computation of the interest payable on such next succeeding Business Day; <U>provided</U> that if the Maturity Date of any Note is
a date other than a Business Day, the payment otherwise due on such Maturity Date shall be made on the next succeeding Business Day and
shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Severability.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Any provision of this Agreement that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full
extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Construction.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each covenant contained herein shall be construed (absent
express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein
refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether
such action is taken directly or indirectly by such Person.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Defined terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine
and neuter forms. The words &ldquo;include,&rdquo; &ldquo;includes&rdquo; and &ldquo;including&rdquo; shall be deemed to be followed by
the phrase &ldquo;without limitation.&rdquo; The word &ldquo;will&rdquo; shall be construed to have the same meaning and effect as the
word &ldquo;shall.&rdquo; Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein) and, for purposes
of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 15, (b) subject to Section 26.1, any
reference herein to any Person shall be construed to include such Person&rsquo;s successors and assigns, (c) the words &ldquo;herein,&rdquo;
&ldquo;hereof&rdquo; and &ldquo;hereunder,&rdquo; and words of similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof, (d) all references herein to Sections shall be construed to refer to Sections of this Agreement,
and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended, modified
or supplemented from time to time. References herein to any time of day are to New York City local time, unless otherwise specified.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in">26.5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Statement of Interest Rate.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">For purposes of any legislation respecting the statement
of interest rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent to the rate specified
in the Notes as being &ldquo;computed on the basis of a 360-day year of twelve 30-day months&rdquo; is the rate so specified, calculated
and payable on a quarterly or semi-annual basis, as applicable; and the use of the term &ldquo;360-day year of twelve 30-day months&rdquo;
is for matters of calculation of the quarterly or semi-annual interest payments in respect of the Notes (as applicable) and does not alter
the yearly rate described above.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Counterparts.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Agreement may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number
of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of an electronic signature
(including execution via authenticated electronic signature platform DocuSign or a similar electronic signature application) to, or a
signed copy of, this Agreement, any Request for Purchase and any Confirmation of Acceptance by facsimile, email (with .pdf attachment)
or other electronic transmission shall be fully binding on the parties to the same extent as the delivery of the signed originals and
shall be admissible into evidence for all purposes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governing Law.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW PRINCIPLES
OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.8.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounting Terms.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">All accounting terms used herein which are not expressly
defined in this Agreement have the meanings respectively given to them in accordance with U.S. GAAP, except as otherwise provided in the
last paragraph of this Section 26.8. Except as otherwise specifically provided herein, (a) all computations made pursuant to this Agreement
shall be made in accordance with U.S. GAAP, and (b) all financial statements shall be prepared in accordance with U.S. GAAP. For purposes
of determining compliance with this Agreement (including, without limitation, Section 9, Section 10 and the definition of &ldquo;Indebtedness&rdquo;),
any election by the Company (for itself and/or its Subsidiaries) to measure any financial liability using fair value (as permitted by
Financial Accounting Standards Board Accounting Standards Codification Topic No. 825-10-25 &ndash; Fair Value Option, International Accounting
Standard 39 &ndash; Financial Instruments: Recognition and Measurement or any similar accounting standard) shall be disregarded and such
determination shall be made as if such election had not been made.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In the event that any Accounting Change shall occur
and such change would affect the calculation of any covenant or other requirement in this Agreement, then, upon written notice from the
Company to the holders of the Notes, or from the Required Holders to the Company, such changes shall be disregarded in calculating or
construing all covenants and other requirements in this Agreement and all such covenants and other requirements shall continue to be calculated
or construed as if such Accounting Change had not occurred (except that such Accounting Change shall be reflected in the financial statements
required by Sections 7.1(a) and 7.1(b)) and the Company shall provide to the holders of Notes a reconciliation between calculations of
such covenant or other requirement made both before and after giving effect to such Accounting Change.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">26.9.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transaction References.</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company agrees that New York Life may (a) refer
to its role in establishing this Agreement, as well as the identity of the Company and the maximum aggregate principal amount of the Notes
and the date on which the Agreement was established, on its internet site or in marketing materials, press releases, published &ldquo;tombstone&rdquo;
announcements or any other print or electronic medium, and (b) display the corporate logo of the Company in conjunction with any such
reference.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0; color: #990099"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0; color: #990099">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B><I>[Remainder of page intentionally left blank. Next
page is signature page.]</I></B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">If you are in agreement with the foregoing, please
sign the form of agreement on the accompanying counterpart of this Agreement and return it to the Company, whereupon this Agreement shall
become a binding agreement among New York Life, the Purchasers and the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Very truly yours,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">By: <U>&#9;&ldquo;<I>Jeremy Rakusin</I>&rdquo;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Name:&#9;Jeremy Rakusin</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 3in">Title:&#9;Chief Financial Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">This Agreement is hereby</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">accepted and agreed to as</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">of the date hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>NYL INVESTORS LLC</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: <U>&#9;&ldquo;<I>Loyd T. Henderson</I>&rdquo;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Name:&#9;Loyd T. Henderson</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Title:&#9;Managing Director</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: left; text-indent: 0in"><B>NEW YORK LIFE INSURANCE COMPANY</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: NYL Investors LLC, its Investment Manager</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: <U>&#9;&ldquo;<I>Loyd T. Henderson</I>&rdquo;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Name:&#9;Loyd T. Henderson</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Title:&#9;Managing Director</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>NYL INVESTORS LLC NEW YORK LIFE INSURANCE AND ANNUITY
CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: NYL Investors LLC, its Investment Manager</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: <U>&#9;&ldquo;<I>Loyd T. Henderson</I>&rdquo;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Name:&#9;Loyd T. Henderson</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Title:&#9;Managing Director</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
OWNED LIFE INSURANCE SEPARATE ACCOUNT</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>(Redacted)</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: NYL Investors LLC, its Investment Manager</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: <U>&#9;&ldquo;<I>Loyd T. Henderson</I>&rdquo;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Name:&#9;Loyd T. Henderson</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Title:&#9;Managing Director</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 99pt 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

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<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="margin: 0pt 99pt 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><B>THE BANK OF NEW YORK MELLON, A BANKING CORPORATION
ORGANIZED UNDER THE LAWS OF NEW YORK, NOT IN ITS INDIVIDUAL CAPACITY BUT SOLELY AS TRUSTEE UNDER THAT CERTAIN TRUST AGREEMENT DATED AS
OF JULY 1<SUP>ST</SUP>, 2015 BETWEEN NEW YORK LIFE INSURANCE COMPANY, AS GRANTOR, JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.), AS BENEFICIARY,
JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK, AS BENEFICIARY, AND THE BANK OF NEW YORK MELLON, AS TRUSTEE</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: New York Life Insurance Company, its attorney-in-fact</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: NYL Investors LLC, its Investment Manager</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">By: <U>&#9;&ldquo;<I>Loyd T. Henderson</I>&rdquo;&#9;</U></P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Name:&#9;Loyd T. Henderson</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">Title:&#9;Managing Director</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE A</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>INFORMATION RELATING TO SERIES A PURCHASERS</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[Redacted]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE B</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>DEFINED TERMS</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">As used herein, the following terms have the respective
meanings set forth below or set forth in the Section hereof following such term:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>2015 Note Purchase Agreement</B>&rdquo;
means that certain Amended and Restated Note and Guarantee Agreement, dated June 1, 2015, between the Company and the 2015 Noteholders,
as amended to date and as the same may from time to time be amended, modified supplemented, refinanced or replaced.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;2015 Noteholders&rdquo; </B>means the holders
from time to time of the notes issued pursuant to the terms of the 2015 Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;2015 NYL Notes&rdquo; </B>means the notes
issued pursuant to the terms of the 2015 Note Purchase Agreement that are held by New York Life or any New York Life Affiliate, as the
same may from time to time be amended, modified, supplemented, refinanced or replaced.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>2022 Prudential Shelf Agreement</B>&rdquo;
means that certain Note Purchase and Private Shelf Agreement, dated as of September 29, 2022, between the Company, PGIM, Inc. and each
of the purchasers from time to time party thereto, as the same may from time to time be amended, modified, supplemented, refinanced or
replaced.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Acceptable Rating Agency</B>&rdquo; means
(a) any one of S&amp;P, Moody&rsquo;s, Fitch, Kroll or DBRS, or (b) any other credit rating agency that is recognized as a nationally
recognized statistical rating organization by the SEC and approved by the Required Holders, so long as, in each case, any such credit
rating agency described in clause (a) or (b) above continues to be a nationally recognized statistical rating organization recognized
by the SEC and is approved as a &ldquo;Credit Rating Provider&rdquo; (or other similar designation) by the NAIC.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Acceptance</B>&rdquo; is defined in Section
2.2(f).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Acceptance Day</B>&rdquo; is defined in
Section 2.2(f).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Acceptance Window</B>&rdquo; is defined
in Section 2.2(f).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Accepted Note</B>&rdquo; is defined in Section
2.2(f).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Accounting Changes</B>&rdquo; refers to changes
in accounting principles required by the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards
Board or the American Institute of Certified Public Accountants or, if applicable, the SEC.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Acquisition Expenses</B>&rdquo; means one
time professional costs and expenses (disclosed in writing to the holders of Notes summarizing such costs and expenses) incurred by the
Company or any of its Subsidiaries in connection with the consummation of the acquisition of a Person, not exceeding the aggregate amount,
on a consolidated basis for the Company and its Subsidiaries, of U.S.$15,000,000 in any fiscal year.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Affected Note&rdquo;</B> is defined in Section&nbsp;8.3.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Affiliate&rdquo;</B> means, at any time,
(a) with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries Controls,
or is Controlled by, or is under common Control with, such first Person, (b) with respect to the Company, shall include any other Person
beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Person
of which the Company and its Subsidiaries beneficially own or hold, in the aggregate, directly or indirectly, 10% or more of any class
of voting or equity interests, and (c) with respect to New York Life, shall include any managed account, investment fund or other vehicle
for which New York Life or any New York Life Affiliate acts as investment advisor or portfolio manager. Unless the context otherwise clearly
requires, any reference to an &ldquo;Affiliate&rdquo; is a reference to an Affiliate of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Agreement&rdquo;</B> means this Agreement,
including all Exhibits and Schedules attached to this Agreement, as it may be amended, restated, supplemented or otherwise modified from
time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Annual Report&rdquo;</B> is defined in Section&nbsp;5.3.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Anti-Corruption Laws&rdquo; </B>is defined
in Section 5.16(d)(1).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Anti-Money Laundering Laws&rdquo; </B>is
defined in Section 5.16(c).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Applicable Law</B>&rdquo; means all laws,
rules, regulations and legally binding governmental guidelines applicable to any Person and its property, conduct, transaction, agreement
or matter in question, including all applicable statutory law and common law, and all provisions of constitutions, treaties, statutes,
rules, regulations, orders and decrees of Governmental Authorities (having the force of law) and, with respect to any Person, such Person&rsquo;s
constating documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Applicable Taxing Authority&rdquo;</B> is
defined in Section&nbsp;5.9(b).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Available Facility Amount</B>&rdquo; is
defined in Section 2.2(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Average Life</B>&rdquo; means, with respect
to any issuance of Shelf Notes, the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) the principal
amount of such Shelf Note into (ii) the sum of the products obtained by multiplying (a) the principal amount of each proposed mandatory
repayment of the principal thereof by (b) the number of years (calculated to the nearest one-twelfth year) which will elapse between
the applicable Closing Date with respect to such Shelf Note and the date of such mandatory prepayment.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Banks&rdquo; </B>means the lenders from time
to time a party to the Credit Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Blocked Person&rdquo; </B>is defined in Section
5.16(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Business Day&rdquo;</B> means any day other
than a Saturday, a Sunday or a day on which commercial banks in New York City or Toronto, Ontario, Canada are required or authorized to
be closed.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Canadian Defined Benefit Pension Plan</B>&rdquo;
means a pension plan for the purposes of any applicable pension benefits standards statute or regulation in Canada, which contains a &ldquo;defined
benefit provision&rdquo; as defined in subsection 147.1(1) of the Income Tax Act (Canada).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Canadian Guarantor&rdquo;</B> means each
Guarantor organized under the laws of Canada or any province or jurisdiction thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Capital Lease&rdquo;</B> means, at any time,
a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability
in accordance with U.S. GAAP.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Cash Amount</B>&rdquo; means, at any time,
the unpaid cash consideration payable in respect of any purchase of shares by the Company or any Subsidiary in the capital stock of any
Subsidiary pursuant to any call option right in favor of the Company or any Subsidiary, as the case may be, which has been exercised in
accordance with the terms of any Shareholders Agreement in respect of such Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Change of Control&rdquo;</B> means any change
in ownership of shares of the Company which results in any shareholder or group of related or affiliated shareholders owning shares of
the Company having voting rights which carry greater than thirty percent (30%) of the voting rights attached to all outstanding shares
of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Change of Control Prepayment Notice&rdquo;
</B>is defined in Section 8.4(b)(i).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Change of Control Prepayment Offer&rdquo;
</B>is defined in Section 8.4(b)(ii).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;CISADA</B>&rdquo; is defined in Section 5.16(a)</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Closing&rdquo;</B> is defined in Section
3.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Closing Date</B>&rdquo; means (a) with respect
to the Series A Notes, the Series A Closing Day and (b) with respect to any Accepted Note, the Business Day specified for the closing
of the purchase and sale of such Accepted Note in the Confirmation of Acceptance for such Accepted Note, provided that if the Company
and the Purchaser which is obligated to purchase such Accepted Note agree on an earlier Business Day for such closing, the &ldquo;Closing
Date&rdquo; for such Accepted Note shall be such earlier Business Day.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Code&rdquo;</B> means the U.S. Internal Revenue
Code of 1986 of the United States of America, as amended from time to time, and the rules and regulations promulgated thereunder from
time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Company&rdquo;</B> is defined in the first
paragraph of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Company Successor</B>&rdquo; is defined in
Section 10.2(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Confidential Information&rdquo;</B> is defined
in Section&nbsp;22.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Confirmation of Acceptance</B>&rdquo; is
defined in Section 2.2(f).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Confirmation of Guarantee</B>&rdquo; is
defined in Section 4.2(e).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Consolidated Net Earnings&rdquo; </B>means,
with respect to any period, the net earnings of the Company and its Subsidiaries for such period determined in accordance with U.S. GAAP
and excluding (i) any extraordinary items and (ii) any equity interest of the Company in the unremitted earnings of any Person that is
not a Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Consolidated Net Worth&rdquo; </B>at any
time means the sum of shareholders&rsquo; equity, preferred stock and non-controlling interest as would be shown in the consolidated financial
statements of the Company and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Consolidated Total Assets&rdquo; </B>at any
time means the total assets of the Company and its Subsidiaries as would be shown in the consolidated financial statements of the Company
and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Consolidated Total Tangible Assets</B>&rdquo;
at any time means Consolidated Total Assets minus all amounts that would be shown as goodwill or other intangible assets on a consolidated
balance sheet of the Company and its Subsidiaries as of such time prepared in accordance with U.S. GAAP.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Control</B>&rdquo; means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise; and the term &ldquo;Controlled&rdquo; shall have meaning correlative to the
foregoing.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Controlled Entity&rdquo; </B>means (i) any
of the Subsidiaries of the Company and any of their or the Company&rsquo;s respective Controlled Affiliates and (ii) if the Company has
a parent company, such parent company and its Controlled Affiliates.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Credit Agreement&rdquo;</B> means the Second
Amended and Restated Credit Agreement dated as of February 17, 2022, among the Company, FirstService (USA), Inc., the Subsidiaries of
the Company named as Guarantors therein, the Banks named on the execution pages thereto, The Toronto-Dominion Bank, in its capacity as
Canadian administration agent and the other various parties acting as agents thereunder, as the same may from time to time be amended,
modified supplemented, refinanced or replaced.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Crown&rdquo;</B> means the Crown in Right
of Canada or of any Province or Territory thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>DBRS</B>&rdquo; means DBRS, Inc. or any successor
thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Debt Rating</B>&rdquo; means the debt rating
of the Notes as determined from time to time by any Acceptable Rating Agency.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Default&rdquo;</B> means an event or condition
the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Default Rate&rdquo;</B> means that rate of
interest that is the greater of (i)&nbsp;2.00% per annum above the otherwise applicable rate of interest on the Notes or (ii)&nbsp;2.00%
over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. in New York, New York as its &ldquo;base&rdquo; or &ldquo;prime&rdquo;
rate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Disclosure Documents&rdquo;</B> is defined
in Section 5.3.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Disposition&rdquo;</B> is defined in Section
10.9.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Disposition Date&rdquo;</B> is defined in
Section 10.9.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Disposition Prepayment Date</B>&rdquo; is
defined in Section 8.4(a)(i).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Disposition Prepayment Offer</B>&rdquo; is
defined in Section 8.4(a)(i).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>EBITDA</B>&rdquo; means, for any period,
Consolidated Net Earnings for such period plus the following to the extent deducted in determining such Consolidated Net Earnings: depreciation,
amortization, interest expense, income taxes, the non-controlling interest redemption increment, Acquisition Expenses, non-cash charges
of equity compensations, the non-controlling interest share of earnings as stated on the consolidated financial statements of the Company
and its Subsidiaries.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Eligible Business</B>&rdquo; means any business
to be acquired by the Company or a Subsidiary which is consistent with the nature of the overall business focus of the Company and its
Subsidiaries as a diversified services business group which services may include the sale, installation, or fabrication of products that
are ancillary to the services being provided.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Environmental Laws&rdquo;</B> means any and
all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions,
grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the
release of any materials into the environment, including but not limited to those related to Hazardous Materials.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;ERISA&rdquo;</B> means the Employee Retirement
Income Security Act of 1974 of the United States of America, as amended from time to time, and the rules and regulations promulgated thereunder
from time to time in effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;ERISA Affiliate&rdquo;</B> means any trade
or business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Event of Default&rdquo;</B> is defined in
Section 11.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;Facility&rdquo; is defined in Section 2.2(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Financial Contract Obligations&rdquo;</B>
means all obligations, present and future, direct or indirect, contingent or absolute, of the Company or its Subsidiaries in respect of
(in each case as determined on a &ldquo;marked to market&rdquo; basis on the date of determining the amount thereof):</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
currency or interest rate swap agreement;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
swap, future, forward or other foreign exchange agreement;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
forward rate agreement;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
derivative, combination or option in respect of, or agreement similar to, an agreement or contract referred to in the foregoing clauses
(i), (ii) or (iii);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
master agreement in respect of any agreement or contract referred to in the foregoing clauses (i), (ii) or (iii); or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Guaranty of the liabilities under an agreement or contract referred to in the foregoing clauses (i), (ii) or (iii).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Financing Documents&rdquo;</B> means this
Agreement, the Notes, the Guarantees, each Confirmation of Guarantee, each Request for Purchase, each Confirmation of Acceptance and each
other Guaranty.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Fitch</B>&rdquo; means Fitch Ratings, Inc.
or any successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Foreign Pension Plan&rdquo;</B> means any
plan, fund (including, without limitation, any super-annuation fund) or other similar program established or maintained outside the United
States of America by the Company or any Subsidiary primarily for the benefit of employees residing outside the United States of America
of the Company or such Subsidiary which plan, fund or other similar program provides for retirement income for such employees, results
in a deferral of income for such employees in contemplation of retirement or provides for payments to be made to such employees upon termination
of employment, and which plan is not subject to ERISA or the Code.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Forms&rdquo;</B> is defined in Section 13(a)(iv).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Funding Instruction Letter&rdquo;</B> is
defined in Section 4.2(m).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Governmental Authority&rdquo;</B> means</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
government of</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada,
the United States of America or any Province, Territory, State or other political subdivision of either thereof, or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over
any properties of the Company or any Subsidiary, or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
entity or agency exercising executive, legislative, judicial, regulatory, taxing authority or administrative functions of, or pertaining
to, any such government.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Governmental Official&rdquo; </B>means any
governmental official or employee, employee of any government-owned or government-controlled entity or Governmental Authority, political
party, any official of a political party, candidate for political office, official of any public international organization or anyone
else acting in an official capacity.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Guarantees&rdquo;</B> means (a) that certain
Guarantee of even date herewith executed by each U.S. Guarantor, and (b) any other guarantee of a Guarantor of the obligations of the
Company under this Agreement and the Notes, each substantially in the form of <U>Exhibit D</U> and as may be amended, restated or otherwise
modified from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Guarantor&rdquo;</B> means (a) all present
and future: (i) parents (if any) of the Company; (ii) Wholly-Owned Subsidiaries that are Material Subsidiaries in Reliable Jurisdictions;
(iii) Wholly-Owned Subsidiaries that are parent entities (in Reliable Jurisdictions) of each Material Subsidiary, which is not an Unrestricted
Entity, (whether or not such Material Subsidiary is a Wholly-Owned Subsidiary); and (iv) Wholly-Owned Subsidiaries, each of which is the
immediate top holding company of a Reliable Jurisdiction, provided that the EBITDA for all the Subsidiaries (on a cumulative basis) in
such Reliable Jurisdiction is equal to or greater than 2% of EBITDA in any Fiscal Year; (b) any Person who guarantees or otherwise becomes
liable at any time, whether as a borrower, issuer or additional or co-borrower or co-issuer or otherwise, for or in respect of any Indebtedness
under any Material Credit Facility, and (c) any other Person who has provided a guarantee of the Company&rsquo;s obligations hereunder
in favor of the holders of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Guarantor Successor&rdquo;</B> is defined
in Section 10.2(b).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Guaranty&rdquo;</B> means, with respect to
any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection)
of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner,
whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by
such Person:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
purchase such indebtedness or obligation or any property constituting security therefor;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
advance or supply funds (<U>i</U>) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital
or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds
for the purchase or payment of such indebtedness or obligation;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or obligation
of the ability of any other Person to make payment of the indebtedness or obligation; or</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;otherwise
to assure the owner of such indebtedness or obligation against loss in respect thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In any computation of the indebtedness or other liabilities
of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be
direct obligations of such obligor.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Hazardous Material&rdquo;</B> means any and
all pollutants, toxic or hazardous wastes or any other substances that might pose a hazard to health or safety, the removal of which may
be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer,
use, disposal, release, discharge, spillage, seepage, or filtration of which is or shall be restricted, prohibited or penalized by any
applicable law (including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum
products, lead based paint, radon gas or similar restricted, prohibited or penalized substances).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;holder&rdquo;</B> means, with respect to
any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 15.1, <U>provided</U>,
<U>however</U>, that if such Person is a nominee, then for the purposes of Sections 7, 12, 19.2 and 20 and any related definitions in
this <U>Schedule B</U>, &ldquo;holder&rdquo; shall mean the beneficial owner of such Note whose name and address appears in such register.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Hostile Tender Offer</B>&rdquo; shall mean,
with respect to the use of proceeds of any Note, any offer to purchase, or any purchase of, shares of capital stock of any corporation
or equity interests in any other entity, or securities convertible into or representing the beneficial ownership of, or rights to acquire,
any such shares or equity interests, if such shares, equity interests, securities or rights are of a class which is publicly traded on
any securities exchange or in any over-the-counter market, other than purchases of such shares, equity interests, securities or rights
representing less than 5% of the equity interests or beneficial ownership of such corporation or other entity for portfolio investment
purposes, and such offer or purchase has not been duly approved by the board of directors of such corporation or the equivalent governing
body of such other entity prior to the date on which the Company makes the Request for Purchase of such Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Indebtedness&rdquo;</B> with respect to any
Person means, at any time, without duplication,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;its
liabilities for borrowed money;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;its
liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary course
of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect
to any such property);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities appearing on its balance sheet in accordance with U.S. GAAP in respect of Capital Leases;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed or
otherwise become liable for such liabilities);</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Contract Obligations of such Person;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
liabilities of such Person with respect to vendor-take-back financing arrangements; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Guaranty of such Person with respect to liabilities of another Person of a type described in any of clauses (a) through (f) hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Indebtedness of any Person shall include all obligations
of such Person of the character described in clauses (a) through (g) to the extent such Person remains legally liable in respect thereof
notwithstanding that any such obligation is deemed to be extinguished under U.S. GAAP.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Indemnifiable Taxes&rdquo;</B> is defined
in Section 13(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;INHAM Exemption&rdquo; </B>is defined in
Section 6.2(e).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Institutional Accredited Investor&rdquo;</B>
means an &ldquo;accredited investor&rdquo; within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Institutional Investor&rdquo;</B> means (a)&nbsp;any
Purchaser of a Note, (b)&nbsp;any holder of a Note (together with one or more of its affiliates) holding more than 5% of the aggregate
principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution,
any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity,
regardless of legal form, and (d) any Related Fund of any holder of any Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Interest Coverage Ratio&rdquo;</B> means
the ratio of EBITDA for any four consecutive fiscal quarters of the Company to Net Interest Expense for such period.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;Issuance <B>Period&rdquo; is defined in Section
2.2(b).</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Kroll</B>&rdquo; means Kroll Bond Rating
Agency, Inc., or if applicable, its successor.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Lien&rdquo;</B> means with respect to the
property or assets of any Person, a mortgage, pledge, hypothecation, encumbrance, lien (statutory or other), charge or other security
interest of any kind in or with respect to such property or assets (including, without limitation, any conditional sale or other title
retention agreement, and any financing lease under which such Person is lessee having substantially the same economic effect as any of
the foregoing).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Make-Whole Amount&rdquo;</B> is defined in
Section 8.9.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Market Disruption&rdquo;</B> is defined in
Section 2.2(g).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Material&rdquo;</B> means material in relation
to the business, operations, affairs, financial condition, assets, properties or prospects of the Company and its Subsidiaries taken as
a whole.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Material Adverse Effect&rdquo;</B> means
a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries
taken as a whole, or (b) the ability of the Company or any Guarantor to perform its obligations under this Agreement, the Notes or any
other Financing Document to which the Company is a party (in the case of the Company) or this Agreement, the Guarantees or any other Financing
Document to which the Guarantor is a party (in the case of any Guarantor), or (c) the validity or enforceability of this Agreement, the
Notes, the Guarantees or any other Financing Documents.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Material Credit Facility&rdquo; </B>means,
as to the Company and its Subsidiaries,</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Credit Agreement, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing thereof;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
2015 Note Purchase Agreement, the 2022 Prudential Shelf Agreement and any other agreement(s) creating or evidencing any debt securities
of the Company or any Subsidiary that are privately placed, or in respect of which the Company or any Subsidiary is an obligor or otherwise
provides a guarantee or other credit support, in each case, in any amount available to be borrowed and/or outstanding under such debt
securities; and</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other agreement(s) creating or evidencing indebtedness for borrowed money entered into by the Company or any Subsidiary, or in respect
of which the Company or any Subsidiary is an obligor or otherwise provides a guarantee or other credit support (&ldquo;<B>Credit Facility</B>&rdquo;),
in a principal amount outstanding or available for borrowing equal to or greater than U.S.$50,000,000 (or the equivalent of such amount
in the relevant currency of payment, determined as of the date of the closing of such facility based on the exchange rate of such other
currency); and if no Credit Facility or Credit Facilities equal or exceed such amounts, then the largest Credit Facility shall be deemed
to be a Material Credit Facility.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Material Subsidiary</B>&rdquo; means any
Subsidiary of the Company that generates equal to or greater than 2% of EBITDA in any fiscal year of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Maturity Date&rdquo; </B>means (a) with respect
to the Series A Notes, September 29, 2032, and (b) with respect to any Shelf Note, the date specified as the &ldquo;Final Maturity Date&rdquo;
in such Shelf Note.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Moody&rsquo;s</B>&rdquo; means Moody&rsquo;s
Investors Service, Inc. or any successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Most Favored Provision</B>&rdquo; is defined
in Section 9.9.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Multiemployer Plan&rdquo;</B> means any Plan
that is a &ldquo;multiemployer plan&rdquo; (as such term is defined in section 4001(a)(3) of ERISA).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;NAIC&rdquo; </B>means the National Association
of Insurance Commissioners or any successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;NAIC Annual Statement&rdquo;</B> is defined
in Section&nbsp;6.2(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Net Interest Expense&rdquo; </B>means, with
respect to any period, the total interest expense of the Company and its Subsidiaries as shown on the consolidated income statement of
the Company for such period determined in accordance with U.S. GAAP less the amount of interest income reflected on such income statement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Net Proceeds&rdquo;</B> means, with respect
to any Disposition of any property by any Person, an amount equal to</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
aggregate amount of the consideration (valued at the fair market value of such consideration at the time of the consummation of such Disposition)
received by such Person in respect of such Disposition: <I>minus</I></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">(b) all reasonable out-of-pocket costs, fees
commissions and other expenses incurred by such Person in connection with such Disposition and income taxes paid or reasonably estimated
to be payable in connection therewith.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>New York Business Day</B>&rdquo; means any
day other than a Saturday, a Sunday or a day on which commercial banks in New York are required or authorized to be closed.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;New York Life&rdquo; </B>is defined in the
addressee line to this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;New York Life Affiliate&rdquo; </B>means
(i) any corporation or other entity controlling, controlled by, or under common control with, New York Life and (ii) any managed account
or investment fund which is managed by New York Life or a New York Life Affiliate described in clause (i) of this definition. For purposes
of this definition, the terms &ldquo;control&rdquo;, &ldquo;controlling&rdquo; and &ldquo;controlled&rdquo; shall mean the ownership,
directly or through subsidiaries, of a majority of a corporation&rsquo;s or other entity&rsquo;s Voting Stock or equivalent voting securities
or interests.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Normalizing Adjustments</B>&rdquo; is defined
in the definition of &ldquo;Total Debt/EBITDA Ratio&rdquo;.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Notes&rdquo;</B> is defined in Section 1.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;OFAC&rdquo; </B>is defined in Section 5.16(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;OFAC Listed Person&rdquo; </B>is defined
in Section 5.16(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;OFAC Sanctions Program&rdquo; </B>means any
economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may be found at
http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Officer&rsquo;s Certificate&rdquo;</B> means
a certificate of a Senior Financial Officer or of any other officer of the Company, or a Guarantor, as applicable, whose responsibilities
extend to the subject matter of such certificate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;PBGC&rdquo;</B> means the Pension Benefit
Guaranty Corporation referred to and defined in ERISA or any successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Permitted Intercompany Loans&rdquo;</B> means
advances and accounts between one or more of the Company and any of its Subsidiaries, which shall be on commercially reasonable terms.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Permitted Liens&rdquo;</B> is defined in
Section 10.3.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Person&rdquo;</B> means an individual, partnership,
corporation, limited liability company, unlimited liability company, association, trust, unincorporated organization, business entity
or Governmental Authority.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Plan&rdquo;</B> means an &ldquo;employee
benefit plan&rdquo; (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has
been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made,
by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Priority Debt&rdquo;</B> means, at any time,
the sum (without duplication) of (i) the aggregate unpaid principal amount of Indebtedness of the Company and each Subsidiary secured
by Liens (other than Liens permitted by Section 10.3(a) through (m) of this Agreement) <U>plus</U> (ii) without duplication, the aggregate
unpaid principal amount of Indebtedness of all Subsidiaries (other than Indebtedness permitted by subsections (a) through (d) of Section
10.7).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Private Rating Letter</B>&rdquo; means a
letter issued by an Acceptable Rating Agency in connection with any private debt rating for each Series of Notes issued pursuant hereto,
which (a) sets forth the Debt Rating for such Notes, (b) refers to the Private Placement Number issued by the PPN CUSIP Unit of CUSIP
Global Services in respect of such Notes, (c) addresses the likelihood of payment of both principal and interest on such Notes (which
requirement shall be deemed satisfied if either (x)&nbsp;such letter includes confirmation that the rating reflects the Acceptable Rating
Agency&rsquo;s assessment of the Company&rsquo;s ability to make timely payment of principal and interest on the Notes or a similar statement
or (y)&nbsp;such letter is silent as to the Acceptable Rating Agency&rsquo;s assessment of the likelihood of payment of both principal
and interest and does not include any indication to the contrary), (d) includes such other information describing the relevant terms of
the Notes as may be required from time to time by the SVO or any other Governmental Authority having jurisdiction over any holder of any
Notes and (e) shall not be subject to confidentiality provisions or other restrictions which would prevent or limit the letter from being
shared with the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Private Rating Rationale Report</B>&rdquo;
means, with respect to any Private Rating Letter, a report issued by the Acceptable Rating Agency in connection with such Private Rating
Letter setting forth an analytical review of the Notes issued pursuant to this Agreement explaining the transaction structure, methodology
relied upon, and, as appropriate, analysis of the credit, legal, and operational risks and mitigants supporting the assigned Private Rating
for such Notes, in each case, on the letterhead of the Acceptable Rating Agency or its controlled website and generally consistent with
the work product that an Acceptable Rating Agency would produce for a similar publicly rated security and otherwise in form and substance
generally required by the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes from time to time.
Such report shall not be subject to confidentiality provisions or other restrictions which would prevent or limit the report from being
shared with the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;property&rdquo;</B> or <B>&ldquo;properties&rdquo;</B>
means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Proposed Prepayment Date&rdquo; </B>is defined
in Section 8.4(b)(ii).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;PTE&rdquo; </B>is defined in Section 6.2(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Purchasers&rdquo; is defined in the addressee
line to this Agreement.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;QPAM Exemption&rdquo;</B> is defined in Section
6.2(d).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Qualified Institutional Buyer&rdquo;</B>
means any Person who is a &ldquo;qualified institutional buyer&rdquo; within the meaning of such term as set forth in Rule 144A(a)(1)
under the Securities Act.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;Quotation&rdquo; is defined in Section 2.2(e).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Ratable Portion of the Net Proceeds&rdquo;</B>
means, in respect of any Note and an offered prepayment thereof in connection with a Disposition, as contemplated by Section 8.4(a)(ii),
an amount equal to the product of (i) the Net Proceeds attributable to such Disposition <I>multiplied </I>by (ii) a fraction, the numerator
of which is the outstanding principal amount of such Note and the denominator of which is the aggregate principal amount of all Indebtedness
of the Company and its Subsidiaries, determined on a consolidated basis, ranking <I>pari passu</I> with such Note (including, without
limitation, Indebtedness evidenced by the other Notes and Indebtedness of the Company and its Subsidiaries under, or in respect of, the
Credit Agreement, the 2015 Note Purchase Agreement and the 2022 Prudential Shelf Agreement).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>&ldquo;Related Fund&rdquo; </B>means, with respect
to any holder of any Note, any fund or entity that (i) invests in securities or bank loans, and (ii) is advised or managed by such holder,
the same investment advisor as such holder or by an affiliate of such holder or such investment advisor.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Reliable Jurisdiction</B>&rdquo; means a
country (a) with a reliable security and enforcement regime, and (b) where the burden or cost of obtaining guarantees, equity pledge agreements
or possession of equity interests does not outweigh the benefits afforded thereby, as reasonably determined by the Required Holders.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Request for Purchase</B>&rdquo; is defined
in Section 2.2(d).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Required Holders&rdquo;</B> means at any
time, on or after the date of this Agreement, the holders of a majority in principal amount of the Notes at the time outstanding (exclusive
of Notes then owned by the Company or any of its Affiliates), and if at any relevant time, there are no Notes outstanding, then New York
Life shall constitute the Required Holders.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Responsible Officer&rdquo;</B> means any
Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion of this
Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>S&amp;P</B>&rdquo; means S&amp;P Global Ratings,
a division of S&amp;P Global, a New York corporation, or any successor thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>SEC</B>&rdquo; means the United States Securities
and Exchange Commission or any Governmental Authority succeeding to any or all of the functions thereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Secondary Disposition Prepayment Offer</B>&rdquo;
is defined in Section 8.4(a)(ii).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Securities Act&rdquo;</B> means the U.S.
Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Senior Financial Officer&rdquo;</B> means
the Chief Financial Officer of the Company, or any other person holding an equivalent position from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Series</B>&rdquo; is defined in Section
1.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Series A Closing</B>&rdquo; is defined in
Section 3.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Series A Closing Day</B>&rdquo; is defined
in Section 3.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Series A Note</B>&rdquo; is defined in Section
1.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Series A Purchaser</B>&rdquo; is defined
in the addressee line to this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Shareholders Agreements</B>&rdquo; means
all agreements that create in favor of the Company or any Subsidiary call option rights with respect to any non-controlling interest in
any Subsidiary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>Shelf Closing</B>&rdquo; is defined in Section
3.2</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Shelf Note</B>&rdquo; is defined in Section
1.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Source&rdquo;</B> is defined in Section 6.2.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Subsidiary&rdquo;</B> means, as to any Person,
any other Person in which such first Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries
owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority
of the directors (or Persons performing similar functions) of such second Person, and any partnership or joint venture if more than a
50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and
one or more of its Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without
the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to
a &ldquo;Subsidiary&rdquo; is a reference to a Subsidiary of the Company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;SVO&rdquo;</B> means the Securities Valuation
Office of the NAIC (or any successor organization acceding to the authority thereof).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Tax&rdquo;</B> or <B>&ldquo;Taxes&rdquo;</B>
means all taxes (whether income, documentary, sales, stamp, registration, issue, capital, property, excise or otherwise), duties, fees,
premiums, assessments, imposts, levies, rates, withholdings, dues, government contributions and any other charges of any kind whatsoever,
whether direct or indirect, together with all interest, penalties, fines, additions to tax or other additional amounts imposed by any
Governmental Authority.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Tax Event&rdquo;</B> means any amendment
to, or change in, after the date of this Agreement, the laws, regulations or published tax rulings (including tax treaties and regulations
with respect to such treaties) of any Applicable Taxing Authority, or any amendment to or change after the date of this Agreement in the
official administration, interpretation or application of such laws, regulations, or rulings.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Total Debt&rdquo;</B> at any time means all
Indebtedness of the Company and its Subsidiaries at such time determined on a consolidated basis in accordance with U.S. GAAP after deduction
of cash-on-hand or on deposit with any bank or financial institution located in Canada or the United States of America and not subject
to any Lien (other than customary bankers&rsquo; Liens) or other restriction, plus the Cash Amount at such time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Total Debt/EBITDA Ratio&rdquo;</B> at any
time means the ratio of (x) Total Debt as at the end of the fiscal quarter most recently ended to (y) EBITDA for the period of the four
consecutive fiscal quarters of the Company most recently ended, so as to include all Persons which became Subsidiaries during the relevant
period, with EBITDA from the acquisition of such Persons to be included in the calculations by using the trailing 12 month EBITDA for
such Persons, and so as to exclude the EBITDA of any former Subsidiary that ceased being a Subsidiary at any time during the previous
four fiscal quarters. In addition, for purposes of this definition, EBITDA shall include a full year impact of the cost savings in respect
of any Subsidiary which has become a Subsidiary during the period, if such savings are readily identifiable and can be immediately implemented
(such as the elimination of salaries for redundant employees and elimination of various administrative functions which will, in the reasonable
opinion of the Company, become unnecessary or otherwise performed more cost-effectively) (such cost savings being collectively referred
to as &ldquo;<B>Normalizing Adjustments</B>&rdquo;); <U>provided</U> that such adjustments shall only be made if (i) the Company has provided
to each holder of Notes that is an Institutional Investor the details of such Normalizing Adjustments following the completion of the
acquisition or formation of such Subsidiary, and (ii) the Required Holders have not provided written notice to the Company within 15 Business
Days of the receipt by each holder of Notes that is an Institutional Investor of such details that the Required Holders do not consent
to the Normalizing Adjustments.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Unrestricted Entities</B>&rdquo; means Eligible
Businesses in which the Company or any Subsidiary has invested (whether or not such entity is controlled by the Company or any Subsidiary)
having an aggregate initial investment value to the Company and the Subsidiaries (determined at the time of each such investment, including
at the time of any subsequent investments in any particular entity in which the Company or any Subsidiary already has an interest) not
exceeding U.S.$75,000,000. <U>Schedule &ldquo;C&rdquo;</U> lists the Unrestricted Entities as of the date of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&ldquo;<B>USA PATRIOT Act</B>&rdquo; means United States
Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA
PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;U.S. Dollar&rdquo;</B> or <B>&ldquo;U.S.$&rdquo;</B>
means lawful money of the United States of America.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;U.S. Economic Sanctions&rdquo; </B>is defined
in Section 5.16(a).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;U.S. GAAP&rdquo;</B> means generally accepted
accounting principles as in effect from time to time in the United States of America.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;U.S. Guarantor&rdquo;</B> means each Guarantor
organized under the laws of the United States of America or any state thereof (including the District of Columbia).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Voting Stock&rdquo; </B>means, with respect
to any Person, capital stock of any class or classes of a corporation, an association or another business entity the holders of which
are ordinarily, in the absence of contingencies, entitled to vote in the election of corporate directors (or individuals performing similar
functions) of such Person or which permit the holders thereof to control the management of such Person, including general partnership
interests in a partnership and membership interests in a limited liability company.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&ldquo;Wholly-Owned Subsidiary&rdquo;</B> means,
at any time, any Subsidiary one hundred percent (100%) of all of the equity interests (except directors&rsquo; qualifying shares) and
voting interests of which are owned by any one or more of the Company and the Company&rsquo;s other Wholly-Owned Subsidiaries at such
time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE C</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>UNRESTRICTED ENTITIES</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 95; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.3</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>DISCLOSURE MATERIALS</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 96; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.3-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(a)</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>SUBSIDIARIES AND OWNERSHIP OF SUBSIDIARY STOCK</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[Redacted]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 97; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.4(a)-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(b)</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>COMPANY ORGANIZATIONAL CHART</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">[Redacted]</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 98; Options: NewSection; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(c)</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>DIRECTORS AND SENIOR OFFICERS</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>DIRECTORS:</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Jay S. Hennick</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">D. Scott Patterson</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Yousry Bissada</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Elizabeth Carducci</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Bernard I. Ghert</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Steve Grimshaw</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Frederick F. Reichheld</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Joan Sproul</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Erin J. Wallace</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>OFFICERS/TITLES:</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">D. Scott Patterson - President and Chief Executive Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Jeremy Rakusin - Chief Financial Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Douglas G. Cooke - Senior Vice President, Corporate Secretary,
Corporate Controller and Treasurer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Alex Nguyen - Senior Vice President Strategy &amp; Corporate
Development</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Steve Carpenter - Senior Vice President, Technology and
Information Services</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Roger M. Thompson - Vice President, Strategy and Sustainability</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Abel Juarez - Vice President, Compliance and Risk Management</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Patrick Tran - Vice President, Tax</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Ryan Bedrich - Vice President, Finance</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Brian McDonough - Vice President, Finance</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Andrew Hui - Vice President, Financial Systems</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Angela Bai - Vice President, Strategy &amp; Corporate
Development</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Jennifer Kennedy - Director, Marketing and Communications</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Bailey MacDonald - Director, Strategy and Corporate Development</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Amanda McCallen - Director, Tax</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.4(d)</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>RESTRICTIVE AGREEMENTS</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.5</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FINANCIAL STATEMENTS</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Annual Report [Form 40-F of the Company for fiscal year ended December 31, 2021 filed with the SEC]</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Interim Financial Statements of the Company dated as of June 30, 2022, filed with the SEC</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Management Information Circular of the Company dated February 25, 2022, filed with the SEC</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.8</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>CERTAIN LITIGATION</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.8-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.11</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>LICENSES, PERMITS, ETC.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B></B></P>

<!-- Field: Page; Sequence: 103; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.11-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.15</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>EXISTING INDEBTEDNESS / LIENS<BR>
<BR>
</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>List of outstanding indebtedness of FirstService Corporation
and its subsidiaries</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>as at July 31, 2022</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><I>(U.S. dollars)</I></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; border-left: Black 2.25pt double; text-align: justify; text-indent: 0in"><B>Description</B></TD>
    <TD STYLE="width: 26%; border-top: Black 2.25pt double; border-right: Black 2.25pt double; border-bottom: Black 2.25pt double; text-align: right; text-indent: 0in"><B>Amount</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">3.84% notes due January 16, 2025 (current)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">30,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">3.84% notes due January 16, 2025 (long-term)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">60,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">TD bank syndicate credit facility draw (FirstService Corporation)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">437,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">TD bank syndicate credit facility draw (FirstService (USA) Inc.)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">120,500,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">Other external debt (current)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">454,664</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">External capital leases (current)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">5,175,434</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">External capital leases (long-term)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">8,034,170</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 1pt solid; text-align: right; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 2.25pt double; border-bottom: Black 2.25pt double; text-align: right; text-indent: 0in"><B>Total:</B></TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 2.25pt double; text-align: right; text-indent: 0in"><B>661,164,268</B></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">See attached Schedule 5.15-1 for Permitted Liens</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 104; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.15-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"><B>SCHEDULE 5.15-1</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>PERMITTED LIENS</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">None</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 105; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Schedule 5.15-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"><B>EXHIBIT A-1</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>[FORM OF SERIES A NOTE]</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>4.53% SERIES A GUARANTEED SENIOR NOTE DUE SEPTEMBER
29, 2032</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left; text-indent: 0in">No. R-[__]</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 49%; font-size: 10pt">[Date]</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: 0in">U.S.$[_______]</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt">PPN: 33767E A@2</TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>FOR VALUE RECEIVED</B>, the undersigned, <B>FIRSTSERVICE
CORPORATION</B>, a company incorporated under the laws of Ontario, Canada (herein called the &ldquo;<B>Company</B>&rdquo;), hereby promises
to pay to <B>[______________________]</B>, or registered assigns, the principal sum of <B>[_________________] UNITED STATES DOLLARS</B>
(or so much thereof as shall not have been prepaid) on September 29, 2032 (the &ldquo;<B>Maturity Date</B>&rdquo;), with interest (computed
on the basis of a 360-day year of twelve 30-day months) (a)&nbsp;on the unpaid balance hereof at the rate of 4.53% per annum from the
date hereof, payable semi-annually, on the 29th day of March and September in each year, commencing with the March 29<SUP>th</SUP> or
September 29<SUP>th</SUP> next succeeding the date hereof, and on the Maturity Date, until the principal hereof shall have become due
and payable, and (b)&nbsp;to the extent permitted by law, on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of interest and any overdue payment of any Make-Whole Amount (as defined in the Note Purchase Agreement referred to below),
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum equal to the Default
Rate. For purposes of any legislation respecting statement of interest rates, the yearly rate for a 365- or 366-day year, as the case
may be, that can be stated to be equivalent to the rate specified in the Notes as being &ldquo;computed on the basis of a 360-day year
of twelve 30-day months&rdquo; (the &ldquo;<B>360-Day Rate</B>&rdquo;) is the 360-Day Rate multiplied by the actual number of days in
the year divided by 360; and the use of the term &ldquo;360-day year of twelve 30-day months&rdquo; is for matters of calculation of the
quarterly interest payments and does not alter the yearly rate described above. The foregoing sentence is for disclosure purposes only
and shall not otherwise affect the terms of this Note as set forth herein. To the extent the Interest Act (Canada) is deemed applicable
to this Note, all interest which accrues under this Note shall be calculated using the nominal rate method and not the effective rate
method and the deemed reinvestment principle shall not apply to such calculations.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Payments of principal of, interest on and any Make-Whole
Amount with respect to this Note are to be made in lawful money of the United States of America at the principal office of JPMorgan Chase
Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note
as provided in the Note Purchase Agreement referred to below.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is one of a Series of Guaranteed Senior Notes
(herein called the &ldquo;<B>Notes</B>&rdquo;) issued pursuant to the Master Note Agreement, dated as of September 29, 2022 (as from time
to time amended, the &ldquo;<B>Note Purchase Agreement</B>&rdquo;), among the Company, NYL Investors LLC, each New York Life Affiliate
which becomes a party thereto and the respective Purchasers named therein and is entitled to the benefits thereof. Unless otherwise indicated,
capitalized terms used herein and not defined herein have the respective meanings ascribed to such terms in the Note Purchase Agreement.
Each holder of this Note will be deemed, by its acceptance hereof, to have agreed to the confidentiality provisions set forth in Section
22 of the Note Purchase Agreement and to have made the representation set forth in Section 6.2 of the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 106; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-1-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Payment of the principal of, and Make-Whole Amount,
if any, and interest on this Note, and any other amounts which may become owing under the Note Purchase Agreement or this Note, has been
guaranteed by the Guarantors in accordance with the terms of the Guarantees.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is a registered Note and, as provided in
the Note Purchase Agreement, upon surrender of this Note for registration of transfer accompanied by a written instrument of transfer
duly executed, by the registered holder hereof or such holder&rsquo;s attorney duly authorized in writing, a new Note for a like principal
amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company
may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other
purposes, and the Company will not be affected by any notice to the contrary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The Company will make required prepayments of principal
on the dates and in the amounts specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in whole or
from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">If an Event of Default occurs and is continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 107; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-1-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, AND THE RIGHTS OF THE COMPANY AND THE HOLDER OF THIS NOTE SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW
PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">By ___________________________</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Name:&#9;Jeremy Rakusin</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Title:&#9;Chief Financial Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 108; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-1-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"><B>EXHIBIT A-2</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>[FORM OF SHELF NOTE]</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="font-variant: small-caps"><B>SERIES ____
GUARANTEED SENIOR NOTE</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">NO. <B>____</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">CURRENCY: U.S. Dollars</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">ORIGINAL PRINCIPAL AMOUNT:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">ORIGINAL ISSUE DATE:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">INTEREST RATE:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">INTEREST PAYMENT DATES:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">FINAL MATURITY DATE:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">PRINCIPAL PREPAYMENT DATES AND AMOUNTS:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>FOR VALUE RECEIVED</B>, the undersigned, <B>FIRSTSERVICE
CORPORATION</B>, a company incorporated under the laws of Ontario, Canada (herein called the &ldquo;<B>Company</B>&rdquo;), hereby promises
to pay to ___________________________, or registered assigns, the principal sum of ____________________ United States Dollars (U.S.$[________])
[on the final maturity date specified above (or so much thereof as shall not have been prepaid)] [, payable on the principal prepayment
dates and in the amounts specified above, and on the final maturity date specified above in an amount equal to the unpaid balance of the
principal hereof,] with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance thereof at
the interest rate per annum specified above, payable on each interest payment date specified above and on the final maturity date specified
above, commencing with the interest payment date next succeeding the date hereof, until the principal hereof shall have become due and
payable, and (b) on any overdue payment of interest and any overdue payment of any Make-Whole Amount (as defined in the Note Purchase
Agreement referred to below) and, without duplication of clause (a) hereof, during the continuance of an Event of Default, on such unpaid
principal balance, payable on each interest payment date as aforesaid (or, at the option of the registered holder hereof, on demand),
at a rate per annum from time to time equal to the greater of (i) two percent (2%) over the interest rate specified above or (ii) two
percent (2%) over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its
&ldquo;base&rdquo; or &ldquo;prime&rdquo; rate with respect to U.S. Dollars. For purposes of any legislation respecting statement of interest
rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent to the rate specified in the
Notes as being &ldquo;computed on the basis of a 360-day year of twelve 30-day months&rdquo; (the &ldquo;<B>360-Day Rate</B>&rdquo;) is
the 360-Day Rate multiplied by the actual number of days in the year divided by 360; and the use of the term &ldquo;360-day year of twelve
30-day months&rdquo; is for matters of calculation of the quarterly interest payments and does not alter the yearly rate described above.
The foregoing sentence is for disclosure purposes only and shall not otherwise affect the terms of this Note as set forth herein. To the
extent the Interest Act (Canada) is deemed applicable to this Note, all interest which accrues under this Note shall be calculated using
the nominal rate method and not the effective rate method and the deemed reinvestment principle shall not apply to such calculations.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 109; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-2-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Payments of principal of, interest on and any Make-Whole
Amount with respect to this Note are to be made in lawful money of the United States of America at the principal office of JPMorgan Chase
Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note
as provided in the Note Purchase Agreement referred to below.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is one of a Series of Guaranteed Senior Notes
(herein called the &ldquo;<B>Notes</B>&rdquo;) issued pursuant to the Master Note Agreement, dated as of September 29, 2022 (as from time
to time amended, the &ldquo;<B>Note Purchase Agreement</B>&rdquo;), among the Company, NYL Investors LLC, each New York Life Affiliate
which becomes a party thereto and the respective Purchasers named therein and is entitled to the benefits thereof. Unless otherwise indicated,
capitalized terms used herein and not defined herein have the respective meanings ascribed to such terms in the Note Purchase Agreement.
Each holder of this Note will be deemed, by its acceptance hereof, to have agreed to the confidentiality provisions set forth in Section
22 of the Note Purchase Agreement and to have made the representation set forth in Section 6.2 of the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">This Note is a registered Note and, as provided in
the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument
of transfer duly executed, by the registered holder hereof or such holder&rsquo;s attorney duly authorized in writing, a new Note for
a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of
transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment
and for all other purposes, and the Company will not be affected by any notice to the contrary.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">[The Company will make required prepayments of principal
on the dates and in the amounts specified above in this Note and in the Note Purchase Agreement.] [This Note is [also] subject to [optional]
prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.]
[This Note is not subject to prepayment.]</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">If an Event of Default occurs and is continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, AND THE RIGHTS OF THE COMPANY AND THE HOLDER OF THIS NOTE SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW
PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in"></P>

<!-- Field: Page; Sequence: 110; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-2-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3.5in; font-size: 10pt; text-align: justify; text-indent: 0in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">By ___________________________</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Name:&#9;Jeremy Rakusin</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">Title:&#9;Chief Financial Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 111; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-2-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"><B>EXHIBIT B</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FORM OF REQUEST FOR PURCHASE</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Reference is made to the Master Note Agreement (as
amended, restated or otherwise modified from time to time, the &ldquo;<B>Note Purchase Agreement</B>&rdquo;), dated as of September 29,
2022, by and among FirstService Corporation, a company incorporated under the laws of Ontario (together with its successors and assigns,
the &ldquo;<B>Company</B>&rdquo;), NYL Investors LLC, the Series A Purchasers and each New York Life Affiliate (as defined therein) which
becomes a party thereto. Capitalized terms used and not otherwise defined herein shall have the respective meanings specified in the Note
Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to Section 2.2(d) of the Note Purchase Agreement, the Company hereby
makes the following Request for Purchase:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 50%; padding-left: 0.5in; text-indent: -0.5in; text-align: justify">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Aggregate principal amount of the Notes covered hereby (the &ldquo;<B>Notes</B>&rdquo;)</TD>
    <TD STYLE="vertical-align: bottom; width: 50%; text-align: left"><U>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">1</FONT></U></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Individual specifications of the Notes:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; text-align: center">Principal<BR>
<U>Amount</U></TD>
    <TD STYLE="width: 20%; text-align: center">Final<BR>
Maturity<BR>
<U>Date<FONT STYLE="font-size: 10pt">[2]</FONT></U></TD>
    <TD STYLE="width: 20%; text-align: center">Principal<BR>
Prepayment<BR>
Dates and<BR>
<U>Amount</U></TD>
    <TD STYLE="width: 20%; text-align: center">Interest<BR>
Payment<BR>
<U>Period</U></TD>
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Use of proceeds of the Notes:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Proposed day for the closing of the purchase and sale of the Notes:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The Company certifies that (a) [except for changes to such representations and warranties or the Schedules
referred to therein as set forth on Exhibit A hereto,] the representations and warranties contained in Section 5 of the Note Purchase
Agreement are true on and as of the date of this Request for Purchase, (b) there exists on the date of this Request for Purchase no Event
of Default or Default (both before and after giving effect to the issuance and purchase of the Notes contemplated hereby) and (c) the
use of the proceeds of such Notes shall not be used to finance a Hostile Tender Offer, unless prior written consent of the Required Holders
is obtained.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">_________________________</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><U>1</U> Minimum draw amount of U.S.$10,000,000.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><U>2</U> No more than 12 years. The proposed final maturity date
shall fall on a day that corresponds numerically to the day on which the proposed closing date falls (or, if there is no numerically
corresponding day, on the last day of a calendar month).</P>


<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in"><B></B></P>

<!-- Field: Page; Sequence: 112; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; font-size: 10pt">Dated: _________________ &#8239;_______, ______________</P>

<P STYLE="margin: 0pt 0 0pt 3in; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3in; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3in; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 3in; font-size: 10pt"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in">By: &#8239;&#8239;&#8239;___________________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 238.5pt">Authorized Officer</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 113; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"><B>EXHIBIT C</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FORM OF CONFIRMATION OF ACCEPTANCE</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Reference is made to the Master Note Agreement (the
&ldquo;<B>Note Purchase Agreement</B>&rdquo;), September 29, 2022, by and among FirstService Corporation, a company incorporated under
the laws of Ontario (together with its successors and assigns, the &ldquo;<B>Company</B>&rdquo;), NYL Investors LLC, the Series A Purchasers
and each New York Life Affiliate (as defined therein) which becomes party thereto. All terms used herein that are defined, in the Note
Purchase Agreement have the respective meanings specified in the Note Purchase Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Each Person which is named below as a Purchaser of
Shelf Notes hereby confirms the representations as to such Notes set forth in Section 5 of the Note Purchase Agreement and agrees to be
bound by the provisions of the Note Purchase Agreement which are expressly applicable to a Purchaser or a holder of Notes.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to Section 2.2(f) of the Note Purchase Agreement, an Acceptance
with respect to the following Accepted Notes is hereby confirmed:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accepted
Notes</U></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">1. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Requested Available
Currency: &#8239;&#8239;&#8239;&#8239;U.S. Dollars</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Aggregate
principal amount: &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;___________________</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Purchaser Information</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right">(A)&#8239;&#8239;&#8239;&#8239;&#8239;</TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Name of Purchaser:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Principal amount:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Final maturity date:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Principal installment dates and amounts:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Interest rate (fixed rate only):</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Interest payment period:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD>Payment and notice instructions: As set forth on attached Purchaser Schedule</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right">(B)&#8239;&#8239;&#8239;&#8239;&#8239;</TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Name of Purchaser:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Principal amount:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Final maturity date:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Principal installment dates and amounts:</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Interest rate (fixed rate only):</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Interest payment period:</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD>Payment and notice instructions: As set forth on attached Purchaser Schedule</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="white-space: nowrap; width: 1in; text-align: right">[(C), (D)</TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify"> same
information as above.]</TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Closing
Date: ___________________</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in"><B>FIRSTSERVICE CORPORATION</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in">By:&#8239;&#8239;&#8239;&#8239;_________________________</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 238.5pt">Authorized Officer</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 238.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>NYL INVESTORS LLC</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">By: ______________________</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>[NEW YORK LIFE AFFILIATE]</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">By: ______________________<U></U></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>[Purchaser Schedule to be attached]</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit C-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; text-indent: 0in"><B>EXHIBIT D</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0"><B>FORM OF GUARANTEE</B>&#9;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit D</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0pt 9.05pt 0pt 0; font-size: 10pt; text-align: center"><B>FORM OF U.S. GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>THIS U.S. GUARANTEE </B>(as the same may hereafter be
amended, supplemented or otherwise modified, this &ldquo;<B>Note Guarantee</B>&rdquo;) is entered into as of September 29, 2022, by and
among each of the entities named on the execution pages hereof and each of the entities which becomes a party hereto pursuant to the terms
of Section 6.14 hereof (each a &ldquo;<B>Guarantor</B>&rdquo;, and collectively, the &ldquo;<B>Guarantors</B>&rdquo;), in favor of the
holders from time to time of the Notes (as defined below) (each a &ldquo;<B>Noteholder</B>&rdquo;, and collectively, the &ldquo;<B>Noteholders</B>&rdquo;).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>FirstService Corporation, a company incorporated
under the laws of Ontario, Canada (the &ldquo;<B>Company</B>&rdquo;) has entered into that certain Master Note Agreement, dated September
29, 2022 (as may be amended, restated, supplemented or otherwise modified and in effect from time to time, the &ldquo;<B>Note Purchase
Agreement</B>&rdquo;), by and among the Company, NYL Investors LLC, each of the Series A Purchasers (as defined below) and each other
purchaser of Notes which becomes a party thereto from time to time in accordance with the terms thereof, pursuant to which (a) the Company
has agreed to issue and sell to certain purchasers listed on Schedule A to the Note Purchase Agreement (collectively, the &ldquo;<B>Series
A Purchasers</B>&rdquo;) U.S.$60,000,000 in aggregate principal amount of its 4.53% Series A Guaranteed Senior Notes Due September 29,
2032 (together with any notes issued in substitution, replacement or exchange therefor pursuant to the terms of the Note Purchase Agreement,
and as the same may be amended, restated or otherwise modified from time to time, the &ldquo;<B>Initial Notes</B>&rdquo;), and (b) the
Company has authorized the issuance from time to time of additional senior unsecured notes upon the terms and subject to the conditions
set forth in the Note Purchase Agreement (together with any notes issued in substitution, replacement or exchange therefor pursuant to
the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise modified from time to time, the &ldquo;<B>Shelf
Notes</B>&rdquo;, and together with the Initial Notes, collectively, the &ldquo;<B>Notes</B>&rdquo;).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>as a condition to purchasing the Notes under
the Note Purchase Agreement, the holders of the Notes require, among other things, that each Guarantor guarantee the Guaranteed Obligations;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS</B> each Guarantor has agreed to guarantee the Guaranteed
Obligations; and</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>each Guarantor is a direct or indirect Subsidiary
of the Company and will derive substantial direct and indirect benefits from the purchase of the Notes by the Purchasers. The Company
and the Guarantors are members of a group of related companies, the success of any one of which is dependent in part on the success of
the other members of such group.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>NOW THEREFORE </B>in consideration of the foregoing,
and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), each Guarantor hereby agrees
as follows:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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    <DIV STYLE="border-bottom: Black 4pt solid; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 1 - DEFINITIONS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>1.1</B></TD><TD><B>Definitions</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify">For the purposes of this Note Guarantee, all capitalized terms
used herein and not defined herein shall have the respective meanings given them in the Note Purchase Agreement. The following terms shall
have the following meanings:</P>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify"></P>



<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">&ldquo;<B>Allocable Amount</B>&rdquo; shall mean, as of any date of determination,
with respect to any Guarantor, that amount which is equal to the excess of the fair saleable value of the property of such Guarantor over
the total liabilities of such Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities,
calculated, without duplication, assuming each other Guarantor that is also liable for such contingent liability pays its ratable share
thereof), giving effect to all payments made by other Guarantors as of such date in a manner to maximize the amount of such contributions.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">&ldquo;<B>Debtor Relief Law</B>&rdquo; means Title 11 of the United States Code,
Bankruptcy and Insolvency Act (Canada), Companies&rsquo; Creditors Arrangement Act (Canada), as such legislation may be amended from time
to time, or any similar federal, provincial or state law for the relief of debtors generally and all other liquidation, bankruptcy, assignment
for the general benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization or similar
debtor relief laws of the United States of America, Canada, or any other applicable jurisdictions in effect from time to time.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.85pt">&ldquo;<B>Financing Documents</B>&rdquo; means this Note Guarantee, the Note Purchase
Agreement, the Notes and each other document executed by a Guarantor in connection with any of the foregoing.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD>&ldquo;<B>Guaranteed Obligations</B>&rdquo; shall have the meaning set out in Section 2.1 hereof.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD>&ldquo;<B>Guarantor Payment</B>&rdquo; shall have the meaning set out in Section 2.9 hereof.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">&ldquo;<B>Obligated Party</B>&rdquo; means the Company, any Guarantor, any other
guarantor of, or any other Person obligated for, all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>SECTION 2 THE GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.1</B></TD><TD><B>The Guarantee</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Each Guarantor jointly and severally hereby, as a primary obligor and not merely
as surety, absolutely, unconditionally and irrevocably guarantees to the Noteholders, the prompt payment in full when due (whether at
stated maturity, upon acceleration, by optional prepayment or otherwise), of (i) the principal of, the Make-Whole Amount, if any, and
interest on (including, without limitation, interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding),
and any other amounts due under, the Notes when and as the same shall become due and payable and (ii) any other sums which may become
due under the terms and provisions of the Notes, the Note Purchase Agreement or any other instrument referred to therein, including, without limitation,
all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated costs of in-house counsel and paralegals) (collectively,
the &ldquo;<B>Guaranteed Obligations</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.85pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">Each Guarantor further agrees that the Guaranteed Obligations may be increased,
extended, renewed or otherwise modified in whole or in part without notice to or further assent from it, and that it remains bound upon
its guarantee notwithstanding any such increase, extension, renewal or modification.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.95pt">All terms of this Note Guarantee apply to and may be enforced by or on behalf
of any Affiliate of any Noteholder that extended any portion of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">Without limiting the generality of the foregoing, each Guarantor&rsquo;s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and which would be owed by the Company or any
other Guarantor to any Noteholder under or in respect of the Note Purchase Agreement, the Notes or any of the other Financing Documents
but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding
involving the Company or such other Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.2</B></TD><TD><B>Indemnity</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">If any or all of the Guaranteed Obligations are not paid
or performed by the Company and are not paid or performed by a Guarantor under Section 2.1 for any reason whatsoever, each Guarantor will,
as a separate and distinct obligation, indemnify and hold harmless each of the Noteholders from and against all losses, costs and expenses
suffered or incurred by each such Noteholder arising from, or in connection with, or as a result of (a) any of the provisions of the Note
Purchase Agreement, the Notes or any of the Financing Documents being or becoming void, voidable, unenforceable or invalid, or, (b) the
failure of the Company to fully and promptly pay any of the Guaranteed Obligations.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.3</B></TD><TD><B>Primary Obligation</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">If (i) any or all of the Guaranteed Obligations are not paid or performed by the
Company or by a Guarantor under Section 2.1, respectively, or (ii) the Noteholders are not indemnified under Section 2.2, in each case,
for any reason whatsoever, such Guaranteed Obligations will, as a separate and distinct obligation, be paid or performed by each Guarantor
as primary obligor immediately upon written demand to such Guarantor by any Noteholder for such payment or performance.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">This Note Guarantee is an absolute, unconditional and continuing guarantee of payment
and performance and not of collection. Each Guarantor waives any right to require any Noteholder to sue any other Obligated Party, or
otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Each Guarantor hereby agrees that (i) it is directly, jointly and severally with
any other Obligated Party, liable to the Noteholders, (ii) the Guaranteed Obligations of each Guarantor hereunder are independent of the
obligations of any other Obligated Party, and (iii) a separate action may be brought against each Guarantor, whether such action is brought
against any other Obligated Party or whether any other Obligated Party is joined in such action. Each Guarantor hereby agrees that its
liability hereunder shall be immediate and shall not be contingent upon the exercise or enforcement by any Noteholder of whatever remedies
it may have against any Obligated Party. Each Guarantor hereby agrees that any release which may be given by the Noteholders to any Obligated
Party, or with respect to any property or asset subject to a Lien, shall not release it from its obligations hereunder. Each Guarantor
consents and agrees that the Noteholders shall not be under any obligation to marshal any property or assets of any Obligated Party in
favor of it, or against or in payment of any or all of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.4</B></TD><TD><B>No Discharge or Diminishment of Guarantee.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">Except as otherwise provided for herein, the obligations of each Guarantor hereunder
are unconditional, absolute and irrevocable and not subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Guaranteed Obligations and termination of the Note Purchase Agreement), including:
(i) any claim of waiver, release, extension, renewal, settlement, surrender, alteration or compromise of any of the Guaranteed Obligations,
by operation of law or otherwise; (ii) any change in the existence, structure or ownership of any Obligated Party; (iii) any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Obligated Party or its assets or any resulting release or discharge
of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Guarantor may have at any
time against any Obligated Party, any Noteholder or any other Person, whether in connection herewith or in any unrelated transactions.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">The obligations of each Guarantor hereunder are not subject to any defence or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed
Obligations, the Note Purchase Agreement, the Notes, this Note Guarantee or otherwise, or any provision of applicable law or regulation
purporting to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">The Guaranteed Obligations of any Guarantor hereunder shall not be discharged
or impaired or otherwise affected by: (i) the failure of any Noteholder to assert any claim or demand or to exercise or enforce any right
or remedy with respect to all or any part of the Guaranteed Obligations; (ii) any change in the time, place or manner of payment of, or
in any other term of, the Guaranteed Obligations or any other obligation of any Obligated Party under any agreement relating to the Guaranteed
Obligations, or any rescission, waiver, amendment or other modification of the Note Purchase Agreement, the Notes,
any Financing Document or any other agreement relating to the Guaranteed Obligations; (iii) any taking, release, impairment, amendment,
waiver or other modification of any guarantee, for the Guaranteed Obligations; (iv) creating new or additional Guaranteed Obligations
after prior Guaranteed Obligations have been satisfied in whole or in part; (v) any failure of the Noteholders to disclose to any Guarantor
any information relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of any
other Guarantor now or hereafter known to such Noteholder; (vi) any taking, exchange, substitution, release, impairment or non-perfection
of any collateral (if any) or any proceeds thereof; (vii) each Guarantor waiving any duty of the Noteholders to disclose such information;
or (viii) any default, failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or
any other circumstance, act, omission or delay that might in any manner or to any extent vary the risk of such Guarantor or that would
otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of
the Guaranteed Obligations).</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.65pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.6pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any right to revoke this Note Guarantee as to future Guaranteed Obligations. If such a revocation is effective notwithstanding the foregoing
waiver, each Guarantor acknowledges and agrees that (i) no such revocation shall be effective until written notice thereof has been received
by the Noteholders, (ii) no such revocation shall apply to any Guaranteed Obligations in existence on the date of receipt by the Noteholders
of such written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment
terms, or other terms and conditions thereof), (iii) no such revocation shall apply to any Guaranteed Obligations made or created after
such date to the extent made or created pursuant to a legally binding commitment of the Noteholders on the date of such revocation, (iv)
no payment by any Guarantor, the Company, or from any other source, prior to the date of the Noteholders&rsquo; receipt of written notice
of such revocation, shall reduce the maximum obligation of any Guarantor hereunder, and (v) any payment by the Company or from any source
other than the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guaranteed Obligations
as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce
the maximum obligation of any Guarantor hereunder.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 20.95pt">Each default in the payment or performance of any of the Guaranteed Obligations
shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the case may
be, hereunder as each such default occurs.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.5</B></TD><TD><B>Defences Waived</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any defence based on or arising out of any defence of any other Obligated Party or the unenforceability of all or any part of the Guaranteed
Obligations from any cause, or the cessation from any cause of the liability of any other Obligated Party, other than the indefeasible
payment in full in cash of the Guaranteed Obligations and the termination of the Facility. Without limiting the generality of the foregoing,
each Guarantor irrevocably waives notice of acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by applicable
law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated
Party or any other Person. Each Guarantor confirms that it is not a surety under any state or provincial law and shall not raise any such
law as a defence to its obligations hereunder. The Noteholders may, at their election, adjust any part of the Guaranteed Obligations,
make any other accommodation with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party,
without affecting or impairing in any way the liability of such Guarantor under this Note Guarantee except to the extent the Guaranteed
Obligations have been fully and indefeasibly paid in cash and the Facility has terminated. To the fullest extent permitted by applicable
law, each Guarantor waives any defence arising out of any such election even though that election may operate, pursuant to applicable
law, to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Obligated
Party.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.65pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">To the fullest extent permitted by applicable law, each Guarantor hereby waives:</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.75pt 0pt 84pt; font-size: 10pt; text-align: justify">(i) notice of any financial accommodations made under the
Note Purchase Agreement, or the creation or existence of any Guaranteed Obligations; (ii) notice of the amount of the Guaranteed Obligations,
subject, however, to such Guarantor&rsquo;s right to make inquiry of the Noteholders to ascertain the amount of the Guaranteed Obligations
at any reasonable time; (iii) notice of any adverse change in the financial condition of the Company or of any other fact that might increase
such Guarantor&rsquo;s risk hereunder; (iv) presentment for payment, demand, protest, and notice thereof under the Note Purchase Agreement,
the Notes or any other Financing Documents; (v) notice of any Event of Default under any of the Financing Documents; and (vi) all other
notices (except if such notice is specifically required to be given to such Guarantor under this Note Guarantee) and demands to which
such Guarantor might otherwise be entitled.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.6</B></TD><TD><B>Reinstatement; Stay of Acceleration</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">If at any time any payment of any portion of the Guaranteed
Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned
upon the insolvency, bankruptcy or reorganization of the Company, any Guarantor or otherwise (including pursuant to any settlement entered
into by the Noteholders in their discretion), each Guarantor&rsquo;s obligations under this Note Guarantee with respect to that payment
shall be reinstated at such time as though the payment had not been made and whether or not the Noteholders are in possession of this
Note Guarantee. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy
or reorganization of the Company or any Guarantor, all such amounts otherwise subject to acceleration under the</P>

<P STYLE="margin: 0pt 20.6pt 0pt 12pt; font-size: 10pt; text-align: justify">terms of any agreement relating to the Guaranteed Obligations
shall nonetheless be payable by the Guarantors forthwith on demand by the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.7</B></TD><TD><B>Information</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor assumes all responsibility for being and
keeping itself informed of the Company&rsquo;s financial condition and assets, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Guarantor assumes and incurs under this
Note Guarantee, and agrees that none of the Noteholders shall have any duty to advise any Guarantor of information known to it regarding
those circumstances or risks.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.8</B></TD><TD><B>Maximum Liability</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">Notwithstanding any other provision of this Note Guarantee,
the amount guaranteed by each Guarantor domiciled or resident in the U.S. hereunder shall be limited to the extent, if any, required so
that its obligations hereunder shall not be subject to avoidance under Section 548 of the U.S. Bankruptcy Code or under any applicable
state <I>Uniform Fraudulent Transfer Act</I>, <I>Uniform Fraudulent Conveyance Act </I>or similar statute or common law. In determining
the limitations, if any, on the amount of any Guarantor&rsquo;s obligations hereunder pursuant to the preceding sentence, it is the intention
of the parties hereto that any rights of subrogation, indemnification or contribution which such Guarantor may have under this Note Guarantee,
any other agreement or applicable law shall be taken into account.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.9</B></TD><TD><B>Contribution</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">To the extent that any Guarantor shall make a payment under this Guarantee (a &ldquo;<B>Guarantor
Payment</B>&rdquo;) which, taking into account all other Guarantor Payments then previously or concurrently made by any other Guarantor,
exceeds the amount which otherwise would have been paid by or attributable to such Guarantor if each Guarantor had paid the aggregate
Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Guarantor&rsquo;s Allocable Amount (as determined
immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Guarantors as determined immediately
prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guarantor Payment and the Guaranteed
Obligations (other than unliquidated obligations that have not yet arisen), so long as the Facility and the obligations of the Company
under the Note Purchase Agreement and the Notes have terminated, such Guarantor shall be entitled to receive contribution and indemnification
payments from, and be reimbursed by, each other Guarantor for the amount of such excess, pro rata based upon their respective Allocable
Amounts in effect immediately prior to such Guarantor Payment.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">This Section 2.9 is intended only to define the relative rights of the Guarantors,
and nothing set forth in this Section 2.9 is intended to or shall impair the obligations of the Guarantors, jointly and severally, to
pay any amounts as and when the same shall become due and payable in accordance with the terms of this
Note Guarantee.</TD></TR></TABLE>

<P STYLE="margin: 0pt 14.85pt 0pt 84pt; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">The parties hereto acknowledge that the rights of contribution and indemnification
hereunder shall constitute assets of the Guarantor or Guarantors to which such contribution and indemnification is owing.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">The rights of the indemnifying Guarantors against other Guarantors under this Section
2.9 shall be exercisable upon the full and indefeasible payment of the Guaranteed Obligations in cash (other than contingent obligations
for which no claim has been asserted, including unliquidated obligations that have not yet arisen) and the termination of the Note Purchase
Agreement.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.10</B></TD><TD><B>Liability Cumulative</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">The liability of each Guarantor under this Note Guarantee
is in addition to and shall be cumulative with all liabilities of each Guarantor to the Noteholders under the Note Purchase Agreement,
the Notes and the other Financing Documents to which such Guarantor is a party or in respect of any obligations or liabilities of the
other Guarantors, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 3 - REPRESENTATIONS AND WARRANTIES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor represents and warrants to the Noteholders that:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.1</B></TD><TD><B>Organization; Power and Authority</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">Such Guarantor is a corporation or limited liability company,
as the case may be, duly organized, validly existing and, where applicable, in good standing in all material respects under the laws of
its jurisdiction of organization and has full corporate or limited liability company, as the case may be<B>, </B>power, authority and
capacity to own its properties and conduct its business as presently conducted and such Guarantor has the requisite power, authority and
capacity to execute, deliver and perform its obligations under this Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.2</B></TD><TD><B>Authorization, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee has been duly authorized by all necessary
action on the part of such Guarantor, and this Note Guarantee constitutes a legal, valid and binding obligation of such Guarantor enforceable
against such Guarantor in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors&rsquo; rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.3</B></TD><TD><B>Compliance with Laws, Other Instruments, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">The execution, delivery and performance by such Guarantor
of its obligations under this Note Guarantee will not (a) contravene, result in any breach of, or constitute a default under, or result
in the creation of any Lien in respect of any property of such Guarantor under, any indenture, mortgage, deed of trust, loan, purchase
or credit agreement, lease, corporate charter or by-laws or other organizational document, or any other agreement or instrument to which
such Guarantor is bound or by which such Guarantor or any of its properties may be bound or affected, (b) conflict with or result in a
breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental
Authority having jurisdiction over such Guarantor or (c) violate any provision of any statute or other rule or regulation of any Governmental
Authority applicable to such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.4</B></TD><TD><B>Governmental Authorizations, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Guarantor
of this Note Guarantee, including, without limitation, any such approval thereof required in connection with the obtaining of U.S. Dollars
to make payments under this Note Guarantee and the payment of such U.S. Dollars to Persons resident in the United States of America. It
is not necessary to ensure the legality, validity, enforceability or admissibility into evidence of this Note Guarantee in such Guarantor&rsquo;s
jurisdiction of organization that this Note Guarantee or any other document be filed, recorded or enrolled with any Governmental Authority,
or that any such agreement or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.5</B></TD><TD><B>Solvency</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Upon the execution and delivery hereof, such Guarantor will
be solvent, will be able to pay its debts as they generally become due and will have capital sufficient to carry on its business.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.6</B></TD><TD><B>Ranking</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">All liabilities of such Guarantor under this Note Guarantee
constitute direct, unconditional and general obligations of such Guarantor and rank in right of payment either <I>pari passu </I>with
or senior to all other permitted unsecured unsubordinated indebtedness of such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.7</B></TD><TD><B>Taxes</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">No liability for any tax (whether income, documentary, sales,
stamp, registration, issue, capital, property, excise or otherwise), duty, levy, impost, fee, charge or withholding (each a &ldquo;<B>Tax</B>&rdquo;
and collectively &ldquo;<B>Taxes</B>&rdquo;), directly or indirectly, imposed, assessed, levied or collected by or for the account of
any Governmental Authority of or in such Guarantor&rsquo;s jurisdiction of organization or any political subdivision thereof or therein
(an &ldquo;<B>Applicable Taxing Authority</B>&rdquo;) will be incurred by such Guarantor or any Noteholder as a result of the execution
or delivery of this Note Guarantee and, based on present applicable law, no deduction or withholding in respect of Taxes imposed by or
for the account of any Applicable Taxing Authority is required to be made from any payment by such Guarantor under this Note Guarantee
except for any such withholding or deduction arising out of the conditions described in Section 5.</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.9</B></TD><TD><B>Independent Determination; No Reliance</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">Such Guarantor has, independently and without reliance upon
any Noteholder and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Note Guarantee and any other Financing Document to which it is or may become a party, and has established adequate procedures
for continually obtaining information pertaining to, and is now and at all times will be completely familiar with, the business, condition
(financial or otherwise), operations, performance, properties and prospects of the Company and each other Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 4 ENFORCEMENT</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.1</B></TD><TD><B>Payment on Demand</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">The obligation of each Guarantor to pay the amount of the
Guaranteed Obligations and all other amounts payable by it to the Noteholders under this Note Guarantee arises, and each Guarantor shall
make such payments, immediately after demand for same is made in writing to it by the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.2</B></TD><TD><B>Amount of Guaranteed Obligations</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">Any account settled or stated by or among the Noteholders
and the Company, or if any such account has not been settled or stated immediately before demand for payment under this Note Guarantee,
any account stated by the Noteholders shall, in the absence of mathematical error, be accepted by each Guarantor as conclusive evidence
of the amount of the Guaranteed Obligations which is due by the Company to the Noteholders or remains unpaid by the Company to the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.3</B></TD><TD><B>Assignment and Postponement</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.85pt">Upon the occurrence and during the continuance of an Event of Default, obligations,
liabilities and indebtedness of the Company to a Guarantor and all security therefor (the &ldquo;<B>Intercorporate Indebtedness</B>&rdquo;)
shall be held in trust for the Noteholders and shall be collected, enforced or proved subject to, and for the purpose of, this Note Guarantee
and any payments received by a Guarantor in respect of the Intercorporate Indebtedness shall be segregated from other funds and property
held by such Guarantor and immediately paid to the Noteholders on account of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">Upon the occurrence and during the continuance of an Event of Default, the Noteholders
are entitled to receive payment of the Guaranteed Obligations in full before each Guarantor is entitled to receive any payment on account
of the Intercorporate Indebtedness, including in any proceeding against any Obligated Party under any Debtor Relief Law. In such case,
the Intercorporate Indebtedness shall not be released by such Guarantor until the Noteholders&rsquo; prior written consent to such release
has been obtained. No Guarantor shall permit the prescription of the Intercorporate Indebtedness by any statute
of limitations or ask for or obtain any security interest or negotiable paper for, or other evidence of, the Intercorporate Indebtedness
except for the purpose of delivering the same to the Noteholders.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.85pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.4</B></TD><TD><B>Remedies</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">The Noteholders need not seek or exhaust their recourse
against the Company or any other Person before being entitled to (a) enforce payment and performance under this Note Guarantee against
any Guarantor, or (b) pursue any other remedy against any Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.5</B></TD><TD><B>No Prejudice to Noteholders</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">The Noteholders are not prejudiced in any way in the right
to enforce any provision of this Note Guarantee by any act or failure to act on the part of the Company or the Noteholders. The Noteholders
may, at any time and from time to time, in such manner as they may determine is expedient, without any consent of, or notice to, any Guarantor,
and without impairing or releasing the obligations of the Guarantors, (a) change the manner, place or terms of payment or change or extend
the time of payment of, or renew or alter, all or any part of, the Guaranteed Obligations, (b) amend, modify, supplement or restate the
Notes, the Note Purchase Agreement or any other instrument referred to therein, or the terms or conditions in respect of any transaction
with, the Company or any other Person, (c) release, compound or vary the liability of the Company or any other Person liable in any manner
under or in respect of the Guaranteed Obligations, (d) accept compromises or arrangements from any Person, (e) exercise or enforce or
refrain from exercising or enforcing any right against the Company or any other Person, (f) apply any sums from time to time received
to the Guaranteed Obligations or any part thereof, and change any such application in whole or in part from time to time, and (g) otherwise
deal with, or waive or modify their right to deal with, any Person. In their dealings with the Company and the Guarantors, the Noteholders
need not enquire into the authority or power of any Person purporting to act for or on behalf of the Company or any such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.6</B></TD><TD><B>Suspension of Guarantor Rights</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">So long as there are any Guaranteed Obligations, no Guarantor
shall exercise any rights which it may at any time have by reason of the performance of any of its obligations under this Note Guarantee
to (a) be indemnified by the Company, (b) claim contribution from any other guarantor of the debts, liabilities or obligations of the
Company, or (c) take the benefit of any rights of the Noteholders under any of the Financing Documents.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.7</B></TD><TD><B>Rights of Subrogation</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">No Guarantor will assert any right, claim or cause of action,
including, without limitation, a claim of subrogation, contribution or indemnification, that it has against any other Obligated Party
or any collateral, until the Company and the Guarantors have fully performed all their obligations to the Noteholders and the Note Purchase
Agreement has terminated.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.8</B></TD><TD><B>No Set-off by Guarantor</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">To the fullest extent permitted by applicable law, each
Guarantor shall make all payments under this Note Guarantee without regard to any defence, counter-claim or right of set-off available
to it.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.9</B></TD><TD><B>Successors of the Company</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Any change or changes in the name of or reorganization (whether
by way of reconstruction, consolidation, amalgamation, merger, transfer, sale, lease or otherwise) of the Company or its business will
not affect or in any way limit or lessen the liability of each Guarantor under this Note Guarantee. This Note Guarantee shall extend to
any Person acquiring, or from time to time carrying on, the business of the Company.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 5 - TAX INDEMNITY</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">Any and all payments under this Note Guarantee to or for the account of any Noteholder
shall be made free and clear of, and without deduction or withholding for or on account of, any Tax, except for Taxes on the net income
or capital of a Noteholder or Taxes resulting from such Noteholder changing its residency for tax purposes or to the extent such deduction
or withholding is required by applicable law. If any Tax is required by applicable law to be deducted or withheld from any such payments
by any Guarantor, such Guarantor will make such deductions or withholding and pay to the relevant taxing authority the full amount deducted
or withheld (including, without limitation, the full amount of any additional Tax required to be deducted or withheld from or otherwise
paid in respect of any payment made to any Noteholder pursuant to this Section 5(a) as provided below) before penalties attach thereto
or interest accrues thereon. In the event of the imposition by or for the account of any Applicable Taxing Authority or of any Governmental
Authority of any jurisdiction in which any Guarantor resides for tax purposes or any jurisdiction from or through which such Guarantor
is making any payment in respect of this Note Guarantee, other than any Governmental Authority of or in the United States of America or
Canada, or any political subdivision thereof or therein, of any Indemnifiable Taxes upon or with respect to any payments in respect of
this Note Guarantee, whether by withholding or otherwise, such Guarantor hereby agrees to pay forthwith from time to time in connection
with each payment on this Note Guarantee to the Noteholders such additional amounts as shall be required so that every payment received
by any Noteholder in respect of the Guaranteed Obligations and every payment received by any Noteholder under this Note Guarantee will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid to the any Noteholder
pursuant to this Section 5(a) as provided below) and any interest or penalties relating thereto, be less than the amount due and payable
to the Noteholder, as applicable, in respect of such Guaranteed Obligations or under this Note Guarantee before the assessment of such
Tax. In addition, each Guarantor shall indemnify each Noteholder for the full amount of Indemnifiable Taxes paid or required to be paid
on amounts payable pursuant to this Note Guarantee and any liability (including penalties,
interest and expenses) arising therefrom, together with such amounts as will result in the Noteholder, as applicable, receiving the amount
that would otherwise have been received by it in the absence of such Indemnifiable Taxes and the indemnification provided for herein.
Except where any Guarantor is required to deduct or withhold any Indemnifiable Tax, the Noteholders, upon becoming aware of any Noteholder&rsquo;s
liability (or potential liability) for any Indemnifiable Taxes, shall promptly notify the Guarantors of any such liability (or potential
liability) for such Indemnifiable Taxes for which the Guarantors are required to indemnify any Noteholder pursuant to this Section 5(a)
and of the amount payable to it by the Guarantors pursuant hereto, and the Guarantors shall jointly and severally pay such amounts either
(i) directly to the Applicable Taxing Authority or other relevant Governmental Authority that imposed such Indemnifiable Taxes, as the
case may be, on or before the date such Indemnifiable Taxes are due or (ii) if any Noteholder has already paid such Indemnifiable Taxes,
to such Noteholder within 10 days of the receipt of such notice and if such Indemnifiable Taxes are not paid on or before the date specified
in clause (i) or within the period specified in clause (ii), as the case may be, such amounts shall bear interest at the Default Rate
thereafter. Each Noteholder shall determine the amount payable to it, which determination shall be conclusive in the absence of mathematical
error, and no Noteholder shall be required to disclose any confidential or proprietary information in connection with such determination.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.65pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Within 60 days after the date of any payment by any Guarantor of any Tax pursuant
to Section 5(a) in respect of any payment in respect of the Guaranteed Obligations or this Section 5, such Guarantor shall furnish to
each Noteholder the original tax receipt for the payment of such Tax (or if such original tax receipt is not available, a duly certified
copy of the original tax receipt), together with such other documentary evidence with respect to such payments as may be reasonably requested
from time to time by any Noteholder. If a Guarantor shall have determined, with respect to any Noteholder, that a deduction or withholding
of Tax is required to be made, and that no amounts are required to be paid to such Noteholder under Section 5(a) as the result of any
exemption therefrom as provided in Section 5(a), such Guarantor shall promptly inform such Noteholder, in writing, of the imposition or
withholding of such Tax and of the applicable exemption set forth in Section 5(a) that the Guarantor claims releases such Guarantor from
the obligation to pay any such amount otherwise payable under Section 5(a).</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">The obligations of the Guarantors under this Section 5 shall survive the payment
of any of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">If any Guarantor has made a payment to or on account of any Noteholder pursuant
to Section 5(a) and such Noteholder is entitled to a refund of the Tax to which such payment is attributable from the Governmental Authority
to which the payment of the Tax was made and such refund is readily determinable by such Noteholder (such amount to be no greater than
an amount that, if paid to such Guarantor by such Noteholder, would leave such Noteholder
in no worse position than would have existed had such Tax not been required by applicable law to be paid) and can be obtained by filing
one or more Forms (so long as such Forms do not impose, in such Noteholder&rsquo;s determination, an unreasonable burden in time, resources
or otherwise on such Noteholder), then (i) such Noteholder shall, as soon as reasonably practicable after receiving a written request
therefor from such Guarantor (which request shall specify in reasonable detail the Forms to be filed), file such Forms and (ii) upon receipt
of such refund, if any, as soon as reasonably practicable pay over such refund to such Guarantor without interest. This Section 5(d) shall
not require any Noteholder (x) to account for any indirect taxation benefits arising from the deducting or withholding of any Tax, (y)
to disclose any confidential or proprietary information, or (z) to arrange its tax or financial affairs in any particular manner.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.6pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 6 - MISCELLANEOUS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.1</B></TD><TD><B>Amendments, Etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee may be amended, and the observance of
any term hereof may be waived (either retroactively or prospectively), with (and only with) the written consent of each Guarantor and
the Required Holders, except that no such amendment or waiver may, without the written consent of each Noteholder, amend any provision
of Section 2 or this Section 6.1.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.2</B></TD><TD><B>Notices</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">All notices and communications provided for hereunder shall
be in writing and sent as provided in Section 20 of the Note Purchase Agreement.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.3</B></TD><TD><B>Venue</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS NOTE
GUARANTEE AGAINST A GUARANTOR MAY BE BROUGHT IN THE COURTS OF THE PROVINCE OF ONTARIO, WHICH COURTS THE PARTIES HERETO ACKNOWLEDGE IRREVOCABLY
TO BE A CONVENIENT FORUM FOR THE RESOLUTION OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY AND EACH GUARANTOR HEREBY CONSENTS TO
THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">EACH OF THE GUARANTORS HEREBY IRREVOCABLY DESIGNATES
AND APPOINTS THE COMPANY (THE &ldquo;<B>PROCESS AGENT</B>&rdquo;) AT ITS REGISTERED OFFICE FROM TIME TO TIME, WHICH OFFICE IS
CURRENTLY LOCATED AT 1155 BAY STREET, SUITE 600, TORONTO, ONTARIO, M5R 2A9, AS THE AUTHORIZED AGENT UPON WHICH PROCESS MAY BE SERVED
IN ANY SUIT OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS NOTE GUARANTEE WHICH MAY BE INSTITUTED IN THE PROVINCE OF
ONTARIO AND AGREES THAT SERVICE OF PROCESS ON THE PROCESS AGENT TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH GUARANTOR BY
THE PERSON SERVING THE SAME SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BE DEEMED IN EVERY RESPECT TO BE EFFECTIVE SERVICE OF
PROCESS ON SUCH GUARANTOR, AS THE CASE MAY BE. HOWEVER, NOTHING IN THIS SECTION 6.3 SHALL AFFECT THE RIGHT OF ANY NOTEHOLDER TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW OR AFFECT THE RIGHT OF ANY NOTEHOLDER TO BRING ANY ACTION OR
PROCEEDING AGAINST THE COMPANY OR ANY GUARANTOR OR THEIR PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTION INCLUDING, WITHOUT
LIMITATION THE STATE OF NEW YORK.</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.4</B></TD><TD><B>Judgment Currency</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">If for the purpose of obtaining judgment in any court it is necessary to convert
an amount due hereunder in the currency in which it is due (the &ldquo;<B>Original Currency</B>&rdquo;) into another currency (the &ldquo;<B>Second
Currency</B>&rdquo;), the rate of exchange applied shall be that at which, in accordance with normal banking procedures, a Noteholder
could purchase, in the Toronto foreign exchange market, the Original Currency with the Second Currency on the date 2 Business Days preceding
that on which judgment is given. Each Guarantor agrees that its obligation in respect of any Original Currency due from it to any Noteholder
hereunder shall, notwithstanding any judgment or payment in such other currency, be discharged only to the extent that, on the Business
Day following the date such Noteholder receives payment of any sum so adjudged to be due hereunder in the Second Currency such Noteholder
may, in accordance with normal banking procedures, purchase, in the Toronto foreign exchange market the Original Currency with the amount
of the Second Currency so paid; and if the amount of the Original Currency so purchased or could have been so purchased is less than the
amount originally due in the Original Currency, each Guarantor agrees as a separate obligation and notwithstanding any such payment or
judgment to indemnify such Noteholder against such loss.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">The term &ldquo;<B>rate of exchange</B>&rdquo; in this Section 6.4 means the spot
rate at which the Noteholder in accordance with normal practices is able on the relevant date to purchase the Original Currency with the
Second Currency and includes any premium and costs of exchange payable in connection with such purchase.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.5</B></TD><TD><B>Successors and Assigns</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">All covenants and other agreements of each Guarantor in
this Note Guarantee shall bind its successors (including any successor by way of amalgamation or merger) and assigns and shall enure to
the benefit of the Noteholders and their respective successors and assigns; provided, however, no Guarantor shall assign this Note Guarantee
or delegate any of its duties hereunder without the Noteholders&rsquo; prior written consent and any assignment made without such consent
shall be absolutely null and void.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.6</B></TD><TD><B>Severability</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">Any provision of this Note Guarantee that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by applicable law) not invalidate or render unenforceable such provision in any
other jurisdiction.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.7</B></TD><TD><B>Construction</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Each agreement contained herein shall be construed (absent
express provision to the contrary) as being independent of each other agreement contained herein, so that compliance with any one agreement
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other agreement. Where any provision herein
refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether
such action is taken directly or indirectly by such Person.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.8</B></TD><TD><B>Expenses</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">The Guarantors shall jointly and severally pay on demand
all costs and expenses, including, without limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated
costs of in-house counsel and paralegals) and expenses paid or incurred by any Noteholder in connection with the enforcement of this Note
Guarantee or the preservation of its rights as a result of any breach by any Guarantor of its obligations hereunder and any actual or
proposed amendment, waiver or consent relating thereto (whether or not executed).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.9</B></TD><TD><B>Rights Cumulative</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">Each of the rights and remedies of the Noteholders under
this Note Guarantee shall be in addition to all of their other rights and remedies under applicable law, and nothing in this Note Guarantee
shall be construed as limiting any such rights or remedies.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.10</B></TD><TD><B>Survival of Representations and Warranties</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">All representations and warranties contained herein shall
survive the execution and delivery of this Note Guarantee, the Note Purchase Agreement and the Notes.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.11</B></TD><TD><B>No Third Party Beneficiary</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 21pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee is solely for the benefit of the Noteholders
and their successors and assigns and may not be relied on by any other Person.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.12</B></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">THIS NOTE GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, EXCLUDING CHOICE OF LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT
WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.13</B></TD><TD><B>Counterparts</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee may be executed in any number of counterparts
and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an original but all such
counterparts shall together constitute one and the same Note Guarantee. Delivery of an executed counterpart of this Note Guarantee by
facsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Note Guarantee. Any
party delivering an executed counterpart of this Note Guarantee by facsimile or electronic mail also shall deliver an original executed
counterpart of this Note Guarantee but the failure to deliver an original executed counterpart shall not affect the validity, enforceability,
and binding effect of this Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.14</B></TD><TD><B>Additional Parties</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">At any time after the date of this Note Guarantee, one or
more additional persons or entities may become parties hereto by executing and delivering to the Noteholders a counterpart of this Note
Guarantee substantially in the form attached as Schedule &ldquo;A&rdquo; hereto (each, a &ldquo;<B>Counterpart to Note Guarantee</B>&rdquo;).
Immediately upon such execution and delivery (and without any further action), each such additional person or entity will become a Guarantor
hereunder, and will be bound by all of the terms of, this Note Guarantee as if such person or entity had been an original party hereto
as a Guarantor. The addition of any additional Guarantor hereunder shall not require the consent of any other Guarantor and all of the
Guaranteed Obligations under this Note Guarantee shall remain in full force and effect notwithstanding the addition of any such additional
Guarantor to this Note Guarantee. Each reference to &ldquo;Guarantor&rdquo; (or any words of like import referring to a Guarantor) in
this Note Guarantee, the Note Purchase Agreement, the Notes or any other Financing Document shall also mean any additional person that
becomes a Guarantor hereunder after the date of this Note Guarantee; and each reference in this Note Guarantee, the Note Purchase Agreement,
the Notes or any other Financing Document to this &ldquo;Note Guarantee&rdquo; (or words of like import referring to this Note Guarantee)
shall mean this Note Guarantee as supplemented by each Counterpart to Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.15</B></TD><TD><B>Agreement to be Bound</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor hereby agrees to be bound by each and all
of the terms and provisions of the Note Purchase Agreement applicable to any Guarantor. Without limiting the generality of the foregoing,
by its execution and delivery of this Note Guarantee, each Guarantor hereby:</P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">(a) makes to each Noteholder each of the representations
and warranties set forth in the Note Purchase Agreement applicable to any Guarantor fully as though such Guarantor were a party thereto,
and such representations and warranties are incorporated herein by this reference, <I>mutatis mutandis</I>; and (b) agrees and covenants
(i) to do each of the things set forth in the Note Purchase Agreement that the Company agrees and covenants to cause any Guarantor to
do, and</P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">(ii) to not do each of the things set forth in the Note
Purchase Agreement that the Company agrees and covenants to cause any Guarantor not to do, in each case, fully as though such Guarantor
was a party thereto, and such agreements and covenants are incorporated herein by this reference, <I>mutatis mutandis</I>.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.16</B></TD><TD STYLE="text-align: justify"><B>Entire Agreement</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee and the other Financing Documents represent
the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements
of the parties. There are no unwritten oral agreements among the parties relating to the subject matter hereof.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">[Remainder of page
intentionally left blank. Next page is signature page.]</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center"></P>

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<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.55pt 0pt 12pt; font-size: 10pt"><B>IN WITNESS WHEREOF</B>, this Note Guarantee has been duly executed by the
Guarantors as of the day and year first above written.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Per:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: </TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center"></P>

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<P STYLE="margin: 0pt 26.15pt 0pt 38.1pt; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0"></P>

<P STYLE="margin: 0pt 177.25pt 0pt 273.9pt; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt"></P>

<P STYLE="margin: 0pt 9pt 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 9pt 0pt 0; font-size: 10pt; text-align: center"><B>Schedule &ldquo;A&rdquo;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 9.05pt 0pt 0; font-size: 10pt; text-align: center"><B>FORM OF COUNTERPART TO U.S. GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; text-align: center"><B>(&ldquo;[Corporation Name]&rdquo;)</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>REFERENCE </B>is hereby made to: (1) that certain Master
Note Agreement, dated September 29, 2022 (as may be amended, restated or otherwise modified and in effect from time to time, the &ldquo;<B>Note
Purchase Agreement</B>&rdquo;), among FirstService Corporation (the &ldquo;<B>Company</B>&rdquo;), NYL Investors LLC, and each of the
holders of the Notes from time to time party thereto; and (2) that certain U.S. Guarantee (as amended, restated or otherwise modified
and in effect from time to time, the &ldquo;<B>Note Guarantee</B>&rdquo;) in the form attached to the Note Purchase Agreement as Exhibit
D and dated as of September 29, 2022.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS</B>, pursuant to the terms of the Note Purchase
Agreement, the undersigned (the &ldquo;<B>Guarantor</B>&rdquo;) is required to become a party to the Note Guarantee in favour of the Noteholders,
and to guarantee the performance of the Guaranteed Obligations (as defined in the Note Guarantee) to the Noteholders;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>AND WHEREAS</B>, the undersigned is a Subsidiary of the
Company acquired or formed subsequent to the effective date of the Note Guarantee and, pursuant to the terms and conditions of the Note
Purchase Agreement and Section 6.14 of the Note Guarantee, is required to execute a counterpart to the Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 21pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>NOW THEREFORE</B>, for good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the undersigned hereby:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">acknowledges that it has recently become a &ldquo;Guarantor&rdquo; as such term
is defined in the Note Purchase Agreement,</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">in its capacity as Guarantor, (i) acknowledges and agrees to be bound by the terms
of the Note Guarantee, (ii) represents and warrants as to itself that the representations and warranties contained in Section 3 of the
Note Guarantee are true and correct in all material respects as of the date hereof,</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>acknowledges having read the Note Guarantee, and</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">affirms the obligations (including the Guaranteed Obligations) imposed on it under
the Note Guarantee.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>EXECUTED</B> as of this <U>__ </U>day of_________, 20<U>__</U>.</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">Authorized Signing Officer</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 9.05pt 0pt 0; font-size: 10pt; text-align: center"><B>FORM OF CANADIAN GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>THIS CANADIAN GUARANTEE </B>(as the same may hereafter
be amended, supplemented or otherwise modified, this &ldquo;<B>Note Guarantee</B>&rdquo;) is entered into as of [ &#9679; ], by and among
each of the entities named on the execution pages hereof and each of the entities which becomes a party hereto pursuant to the terms of
Section 6.14 hereof (each a &ldquo;<B>Guarantor</B>&rdquo;, and collectively, the &ldquo;<B>Guarantors</B>&rdquo;), in favor of the holders
from time to time of the Notes (as defined below) (each a &ldquo;<B>Noteholder</B>&rdquo;, and collectively, the &ldquo;<B>Noteholders</B>&rdquo;).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>FirstService Corporation, a company incorporated
under the laws of Ontario, Canada (the &ldquo;<B>Company</B>&rdquo;) has entered into that certain Master Note Agreement, dated September
29, 2022 (as may be amended, restated, supplemented or otherwise modified and in effect from time to time, the &ldquo;<B>Note Purchase
Agreement</B>&rdquo;), by and among the Company, NYL Investors LLC, each of the Series A Purchasers (as defined below) and each other
purchaser of Notes which becomes a party thereto from time to time in accordance with the terms thereof, pursuant to which (a) the Company
has agreed to issue and sell to certain purchasers listed on Schedule A to the Note Purchase Agreement (collectively, the &ldquo;<B>Series
A Purchasers</B>&rdquo;) U.S.$60,000,000 in aggregate principal amount of its 4.53% Series A Guaranteed Senior Notes Due September 29,
2032 (together with any notes issued in substitution, replacement or exchange therefor pursuant to the terms of the Note Purchase Agreement,
and as the same may be amended, restated or otherwise modified from time to time, the &ldquo;<B>Initial Notes</B>&rdquo;), and (b) the
Company has authorized the issuance from time to time of additional senior unsecured notes upon the terms and subject to the conditions
set forth in the Note Purchase Agreement (together with any notes issued in substitution, replacement or exchange therefor pursuant to
the terms of the Note Purchase Agreement, and as the same may be amended, restated or otherwise modified from time to time, the &ldquo;<B>Shelf
Notes</B>&rdquo;, and together with the Initial Notes, collectively, the &ldquo;<B>Notes</B>&rdquo;).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>as a condition to purchasing the Notes under
the Note Purchase Agreement, the holders of the Notes require, among other things, that each Guarantor guarantee the Guaranteed Obligations;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS</B> each Guarantor has agreed to guarantee the Guaranteed
Obligations; and</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS </B>each Guarantor is a direct or indirect Subsidiary
of the Company and will derive substantial direct and indirect benefits from the purchase of the Notes by the Purchasers. The Company
and the Guarantors are members of a group of related companies, the success of any one of which is dependent in part on the success of
the other members of such group.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>NOW THEREFORE </B>in consideration of the foregoing,
and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), each Guarantor hereby agrees
as follows:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 1 - DEFINITIONS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>1.1</B></TD><TD><B>Definitions</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 21pt 0pt 48pt; font-size: 10pt; text-align: justify">For the purposes of this Note Guarantee, all capitalized terms
used herein and not defined herein shall have the respective meanings given them in the Note Purchase Agreement. The following terms shall
have the following meanings:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">&ldquo;<B>Debtor Relief Law</B>&rdquo; means Title 11 of the United States Code,
Bankruptcy and Insolvency Act (Canada), Companies&rsquo; Creditors Arrangement Act (Canada), as such legislation may be amended from time
to time, or any similar federal, provincial or state law for the relief of debtors generally and all other liquidation, bankruptcy, assignment
for the general benefit of creditors, conservatorship, moratorium, receivership, insolvency, rearrangement, reorganization or similar
debtor relief laws of the United States of America, Canada, or any other applicable jurisdictions in effect from time to time.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.85pt">&ldquo;<B>Financing Documents</B>&rdquo; means this Note Guarantee, the Note Purchase
Agreement, the Notes and each other document executed by a Guarantor in connection with any of the foregoing.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>&ldquo;<B>Guaranteed Obligations</B>&rdquo; shall have the meaning set out in Section 2.1 hereof.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">&ldquo;<B>Obligated Party</B>&rdquo; means the Company, any Guarantor, any other
guarantor of, or any other Person obligated for, all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>SECTION 2 THE GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.1</B></TD><TD><B>The Guarantee</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Each Guarantor jointly and severally hereby, as a primary obligor and not merely
as surety, absolutely, unconditionally and irrevocably guarantees to the Noteholders, the prompt payment in full when due (whether at
stated maturity, upon acceleration, by optional prepayment or otherwise), of (i) the principal of, the Make-Whole Amount, if any, and
interest on (including, without limitation, interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding),
and any other amounts due under, the Notes when and as the same shall become due and payable and (ii) any other sums which may become
due under the terms and provisions of the Notes, the Note Purchase Agreement or any other instrument referred to therein, including, without
limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated costs of in-house counsel and paralegals)
(collectively, the &ldquo;<B>Guaranteed Obligations</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">Each Guarantor further agrees that the Guaranteed Obligations may be increased,
extended, renewed or otherwise modified in whole or in part without notice to or further assent from it, and that it remains bound upon
its guarantee notwithstanding any such increase, extension, renewal or modification.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.95pt">All terms of this Note Guarantee apply to and may be enforced by or on behalf
of any Affiliate of any Noteholder that extended any portion of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">Without limiting the generality of the foregoing, each Guarantor&rsquo;s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and which would be owed by the Company or any
other Guarantor to any Noteholder under or in respect of the Note Purchase Agreement, the Notes or any of the other Financing Documents
but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding
involving the Company or such other Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.2</B></TD><TD><B>Indemnity</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">If any or all of the Guaranteed Obligations are not paid
or performed by the Company and are not paid or performed by a Guarantor under Section 2.1 for any reason whatsoever, each Guarantor will,
as a separate and distinct obligation, indemnify and hold harmless each of the Noteholders from and against all losses, costs and expenses
suffered or incurred by each such Noteholder arising from, or in connection with, or as a result of (a) any of the provisions of the Note
Purchase Agreement, the Notes or any of the Financing Documents being or becoming void, voidable, unenforceable or invalid, or, (b) the
failure of the Company to fully and promptly pay any of the Guaranteed Obligations.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.3</B></TD><TD><B>Primary Obligation</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">If (i) any or all of the Guaranteed Obligations are not paid or performed by the
Company or by a Guarantor under Section 2.1, respectively, or (ii) the Noteholders are not indemnified under Section 2.2, in each case,
for any reason whatsoever, such Guaranteed Obligations will, as a separate and distinct obligation, be paid or performed by each Guarantor
as primary obligor immediately upon written demand to such Guarantor by any Noteholder for such payment or performance.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">This Note Guarantee is an absolute, unconditional and continuing guarantee of payment
and performance and not of collection. Each Guarantor waives any right to require any Noteholder to sue any other Obligated Party, or
otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Each Guarantor hereby agrees that (i) it is directly, jointly and severally with
any other Obligated Party, liable to the Noteholders, (ii) the Guaranteed Obligations of each Guarantor hereunder are independent of the
obligations of any other Obligated Party, and (iii) a separate action may be brought against each Guarantor, whether such action is brought
against any other Obligated Party or whether any other Obligated Party is joined in such action. Each Guarantor hereby agrees that its
liability hereunder shall be immediate and shall not be contingent upon the exercise or enforcement by any Noteholder of whatever remedies
it may have against any Obligated Party. Each Guarantor hereby agrees that any release which may be given by the Noteholders to
any Obligated Party, or with respect to any property or asset subject to a Lien, shall not release it from its obligations hereunder.
Each Guarantor consents and agrees that the Noteholders shall not be under any obligation to marshal any property or assets of any Obligated
Party in favor of it, or against or in payment of any or all of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.8pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.4</B></TD><TD><B>No Discharge or Diminishment of Guarantee.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">Except as otherwise provided for herein, the obligations of each Guarantor hereunder
are unconditional, absolute and irrevocable and not subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Guaranteed Obligations and termination of the Note Purchase Agreement), including:
(i) any claim of waiver, release, extension, renewal, settlement, surrender, alteration or compromise of any of the Guaranteed Obligations,
by operation of law or otherwise; (ii) any change in the existence, structure or ownership of any Obligated Party; (iii) any insolvency,
bankruptcy, reorganization or other similar proceeding affecting any Obligated Party or its assets or any resulting release or discharge
of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Guarantor may have at any
time against any Obligated Party, any Noteholder or any other Person, whether in connection herewith or in any unrelated transactions.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">The obligations of each Guarantor hereunder are not subject to any defence or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Guaranteed
Obligations, the Note Purchase Agreement, the Notes, this Note Guarantee or otherwise, or any provision of applicable law or regulation
purporting to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">The Guaranteed Obligations of any Guarantor hereunder shall not be discharged
or impaired or otherwise affected by: (i) the failure of any Noteholder to assert any claim or demand or to exercise or enforce any right
or remedy with respect to all or any part of the Guaranteed Obligations; (ii) any change in the time, place or manner of payment of, or
in any other term of, the Guaranteed Obligations or any other obligation of any Obligated Party under any agreement relating to the Guaranteed
Obligations, or any rescission, waiver, amendment or other modification of the Note Purchase Agreement, the Notes, any Financing Document
or any other agreement relating to the Guaranteed Obligations; (iii) any taking, release, impairment, amendment, waiver or other modification
of any guarantee, for the Guaranteed Obligations; (iv) creating new or additional Guaranteed Obligations after prior Guaranteed Obligations
have been satisfied in whole or in part; (v) any failure of the Noteholders to disclose to any Guarantor any information relating to the
business, condition (financial or otherwise), operations, performance, properties or prospects of any other Guarantor now or hereafter
known to such Noteholder; (vi) any taking, exchange, substitution, release, impairment or non-perfection of any collateral (if
any) or any proceeds thereof; (vii) each Guarantor waiving any duty of the Noteholders to disclose such information; or (viii) any default,
failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance,
act, omission or delay that might in any manner or to any extent vary the risk of such Guarantor or that would otherwise operate as a
discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of the Guaranteed Obligations).</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.8pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.6pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any right to revoke this Note Guarantee as to future Guaranteed Obligations. If such a revocation is effective notwithstanding the foregoing
waiver, each Guarantor acknowledges and agrees that (i) no such revocation shall be effective until written notice thereof has been received
by the Noteholders, (ii) no such revocation shall apply to any Guaranteed Obligations in existence on the date of receipt by the Noteholders
of such written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment
terms, or other terms and conditions thereof), (iii) no such revocation shall apply to any Guaranteed Obligations made or created after
such date to the extent made or created pursuant to a legally binding commitment of the Noteholders on the date of such revocation, (iv)
no payment by any Guarantor, the Company, or from any other source, prior to the date of the Noteholders&rsquo; receipt of written notice
of such revocation, shall reduce the maximum obligation of any Guarantor hereunder, and (v) any payment by the Company or from any source
other than the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guaranteed Obligations
as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce
the maximum obligation of any Guarantor hereunder.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 20.95pt">Each default in the payment or performance of any of the Guaranteed Obligations
shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the case may
be, hereunder as each such default occurs.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.5</B></TD><TD><B>Defences Waived</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">To the fullest extent permitted by applicable law, each Guarantor hereby waives
any defence based on or arising out of any defence of any other Obligated Party or the unenforceability of all or any part of the Guaranteed
Obligations from any cause, or the cessation from any cause of the liability of any other Obligated Party, other than the indefeasible
payment in full in cash of the Guaranteed Obligations and the termination of the Facility. Without limiting the generality of the foregoing,
each Guarantor irrevocably waives notice of acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by applicable
law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated
Party or any other Person. Each Guarantor confirms that it is not a surety under any state or provincial law and shall not raise any such law as a defence
to its obligations hereunder. The Noteholders may, at their election, adjust any part of the Guaranteed Obligations, make any other accommodation
with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party, without affecting or impairing
in any way the liability of such Guarantor under this Note Guarantee except to the extent the Guaranteed Obligations have been fully and
indefeasibly paid in cash and the Facility has terminated. To the fullest extent permitted by applicable law, each Guarantor waives any
defence arising out of any such election even though that election may operate, pursuant to applicable law, to impair or extinguish any
right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Obligated Party.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.75pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">To the fullest extent permitted by applicable law, each Guarantor hereby waives:</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.75pt 0pt 84pt; font-size: 10pt; text-align: justify">(i) notice of any financial accommodations made under the
Note Purchase Agreement, or the creation or existence of any Guaranteed Obligations; (ii) notice of the amount of the Guaranteed Obligations,
subject, however, to such Guarantor&rsquo;s right to make inquiry of the Noteholders to ascertain the amount of the Guaranteed Obligations
at any reasonable time; (iii) notice of any adverse change in the financial condition of the Company or of any other fact that might increase
such Guarantor&rsquo;s risk hereunder; (iv) presentment for payment, demand, protest, and notice thereof under the Note Purchase Agreement,
the Notes or any other Financing Documents; (v) notice of any Event of Default under any of the Financing Documents; and (vi) all other
notices (except if such notice is specifically required to be given to such Guarantor under this Note Guarantee) and demands to which
such Guarantor might otherwise be entitled.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.6</B></TD><TD><B>Reinstatement; Stay of Acceleration</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.6pt 0pt 12pt; font-size: 10pt; text-align: justify">If at any time any payment of any portion of the Guaranteed
Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned
upon the insolvency, bankruptcy or reorganization of the Company, any Guarantor or otherwise (including pursuant to any settlement entered
into by the Noteholders in their discretion), each Guarantor&rsquo;s obligations under this Note Guarantee with respect to that payment
shall be reinstated at such time as though the payment had not been made and whether or not the Noteholders are in possession of this
Note Guarantee. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy
or reorganization of the Company or any Guarantor, all such amounts otherwise subject to acceleration under the terms of any agreement
relating to the Guaranteed Obligations shall nonetheless be payable by the Guarantors forthwith on demand by the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.7</B></TD><TD><B>Information</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor assumes all responsibility for being and
keeping itself informed of the Company&rsquo;s financial condition and assets, and of all other circumstances bearing upon the risk
of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Guarantor assumes and incurs
under this Note Guarantee, and agrees that none of the Noteholders shall have any duty to advise any Guarantor of information known
to it regarding those circumstances or risks.</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.9</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>2.10</B></TD><TD><B>Liability Cumulative</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">The liability of each Guarantor under this Note Guarantee
is in addition to and shall be cumulative with all liabilities of each Guarantor to the Noteholders under the Note Purchase Agreement,
the Notes and the other Financing Documents to which such Guarantor is a party or in respect of any obligations or liabilities of the
other Guarantors, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 3 - REPRESENTATIONS AND WARRANTIES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor represents and warrants to the Noteholders that:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.1</B></TD><TD><B>Organization; Power and Authority</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">Such Guarantor is a corporation or limited liability company,
as the case may be, duly organized, validly existing and, where applicable, in good standing in all material respects under the laws of
its jurisdiction of organization and has full corporate or limited liability company, as the case may be<B>, </B>power, authority and
capacity to own its properties and conduct its business as presently conducted and such Guarantor has the requisite power, authority and
capacity to execute, deliver and perform its obligations under this Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.2</B></TD><TD><B>Authorization, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee has been duly authorized by all necessary
action on the part of such Guarantor, and this Note Guarantee constitutes a legal, valid and binding obligation of such Guarantor enforceable
against such Guarantor in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors&rsquo; rights generally and (ii) general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.3</B></TD><TD><B>Compliance with Laws, Other Instruments, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">The execution, delivery and performance by such
Guarantor of its obligations under this Note Guarantee will not (a) contravene, result in any breach of, or constitute a default
under, or result in the creation of any Lien in respect of any property of such Guarantor under, any indenture, mortgage, deed of
trust, loan, purchase or credit agreement, lease, corporate charter or by-laws or other organizational document, or any other
agreement or instrument to which such Guarantor is bound or by which such Guarantor or any of its properties may be bound or
affected, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or
ruling of any court, arbitrator or Governmental Authority having jurisdiction over such Guarantor or (c) violate any provision of
any statute or other rule or regulation of any Governmental Authority applicable to such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.4</B></TD><TD><B>Governmental Authorizations, etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Guarantor
of this Note Guarantee, including, without limitation, any such approval thereof required in connection with the obtaining of U.S. Dollars
to make payments under this Note Guarantee and the payment of such U.S. Dollars to Persons resident in the United States of America. It
is not necessary to ensure the legality, validity, enforceability or admissibility into evidence of this Note Guarantee in such Guarantor&rsquo;s
jurisdiction of organization that this Note Guarantee or any other document be filed, recorded or enrolled with any Governmental Authority,
or that any such agreement or document be stamped with any stamp, registration or similar transaction tax.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.5</B></TD><TD><B>Solvency</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Upon the execution and delivery hereof, such Guarantor will
be solvent, will be able to pay its debts as they generally become due and will have capital sufficient to carry on its business.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.6</B></TD><TD><B>Ranking</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">All liabilities of such Guarantor under this Note Guarantee
constitute direct, unconditional and general obligations of such Guarantor and rank in right of payment either <I>pari passu </I>with
or senior to all other permitted unsecured unsubordinated indebtedness of such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.7</B></TD><TD><B>Taxes</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">No liability for any tax (whether income, documentary, sales,
stamp, registration, issue, capital, property, excise or otherwise), duty, levy, impost, fee, charge or withholding (each a &ldquo;<B>Tax</B>&rdquo;
and collectively &ldquo;<B>Taxes</B>&rdquo;), directly or indirectly, imposed, assessed, levied or collected by or for the account of
any Governmental Authority of or in such Guarantor&rsquo;s jurisdiction of organization or any political subdivision thereof or therein
(an &ldquo;<B>Applicable Taxing Authority</B>&rdquo;) will be incurred by such Guarantor or any Noteholder as a result of the execution
or delivery of this Note Guarantee and, based on present applicable law, no deduction or withholding in respect of Taxes imposed by or
for the account of any Applicable Taxing Authority is required to be made from any payment by such Guarantor under this Note Guarantee
except for any such withholding or deduction arising out of the conditions described in Section 5.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.8</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>3.9</B></TD><TD><B>Independent Determination; No Reliance</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">Such Guarantor has, independently and without reliance upon
any Noteholder and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Note Guarantee and any other Financing Document to which it is or</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">may become a party, and has established adequate procedures
for continually obtaining information pertaining to, and is now and at all times will be completely familiar with, the business, condition
(financial or otherwise), operations, performance, properties and prospects of the Company and each other Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 4 ENFORCEMENT</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.1</B></TD><TD><B>Payment on Demand</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">The obligation of each Guarantor to pay the amount of the
Guaranteed Obligations and all other amounts payable by it to the Noteholders under this Note Guarantee arises, and each Guarantor shall
make such payments, immediately after demand for same is made in writing to it by the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.2</B></TD><TD><B>Amount of Guaranteed Obligations</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">Any account settled or stated by or among the Noteholders
and the Company, or if any such account has not been settled or stated immediately before demand for payment under this Note Guarantee,
any account stated by the Noteholders shall, in the absence of mathematical error, be accepted by each Guarantor as conclusive evidence
of the amount of the Guaranteed Obligations which is due by the Company to the Noteholders or remains unpaid by the Company to the Noteholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.3</B></TD><TD><B>Assignment and Postponement</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.85pt">Upon the occurrence and during the continuance of an Event of Default, obligations,
liabilities and indebtedness of the Company to a Guarantor and all security therefor (the &ldquo;<B>Intercorporate Indebtedness</B>&rdquo;)
shall be held in trust for the Noteholders and shall be collected, enforced or proved subject to, and for the purpose of, this Note Guarantee
and any payments received by a Guarantor in respect of the Intercorporate Indebtedness shall be segregated from other funds and property
held by such Guarantor and immediately paid to the Noteholders on account of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.8pt">Upon the occurrence and during the continuance of an Event of Default, the Noteholders
are entitled to receive payment of the Guaranteed Obligations in full before each Guarantor is entitled to receive any payment on account
of the Intercorporate Indebtedness, including in any proceeding against any Obligated Party under any Debtor Relief Law. In such case,
the Intercorporate Indebtedness shall not be released by such Guarantor until the Noteholders&rsquo; prior written consent to such release
has been obtained. No Guarantor shall permit the prescription of the Intercorporate Indebtedness by any statute of limitations or ask
for or obtain any security interest or negotiable paper for, or other evidence of, the Intercorporate Indebtedness except for the purpose
of delivering the same to the Noteholders.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.4</B></TD><TD><B>Remedies</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">The Noteholders need not seek or exhaust their recourse
against the Company or any other Person before being entitled to (a) enforce payment and performance under this Note Guarantee against
any Guarantor, or (b) pursue any other remedy against any Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.5</B></TD><TD><B>No Prejudice to Noteholders</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify">The Noteholders are not prejudiced in any way in the right
to enforce any provision of this Note Guarantee by any act or failure to act on the part of the Company or the Noteholders. The Noteholders
may, at any time and from time to time, in such manner as they may determine is expedient, without any consent of, or notice to, any Guarantor,
and without impairing or releasing the obligations of the Guarantors, (a) change the manner, place or terms of payment or change or extend
the time of payment of, or renew or alter, all or any part of, the Guaranteed Obligations, (b) amend, modify, supplement or restate the
Notes, the Note Purchase Agreement or any other instrument referred to therein, or the terms or conditions in respect of any transaction
with, the Company or any other Person, (c) release, compound or vary the liability of the Company or any other Person liable in any manner
under or in respect of the Guaranteed Obligations, (d) accept compromises or arrangements from any Person, (e) exercise or enforce or
refrain from exercising or enforcing any right against the Company or any other Person, (f) apply any sums from time to time received
to the Guaranteed Obligations or any part thereof, and change any such application in whole or in part from time to time, and (g) otherwise
deal with, or waive or modify their right to deal with, any Person. In their dealings with the Company and the Guarantors, the Noteholders
need not enquire into the authority or power of any Person purporting to act for or on behalf of the Company or any such Guarantor.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.6</B></TD><TD><B>Suspension of Guarantor Rights</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">So long as there are any Guaranteed Obligations, no Guarantor
shall exercise any rights which it may at any time have by reason of the performance of any of its obligations under this Note Guarantee
to (a) be indemnified by the Company, (b) claim contribution from any other guarantor of the debts, liabilities or obligations of the
Company, or (c) take the benefit of any rights of the Noteholders under any of the Financing Documents.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.7</B></TD><TD><B>Rights of Subrogation</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">No Guarantor will assert any right, claim or cause of action,
including, without limitation, a claim of subrogation, contribution or indemnification, that it has against any other Obligated Party
or any collateral, until the Company and the Guarantors have fully performed all their obligations to the Noteholders and the Note Purchase
Agreement has terminated.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.8</B></TD><TD><B>No Set-off by Guarantor</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">To the fullest extent permitted by applicable law, each
Guarantor shall make all payments under this Note Guarantee without regard to any defence, counter-claim or right of set-off available
to it.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>4.9</B></TD><TD><B>Successors of the Company</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Any change or changes in the name of or reorganization (whether
by way of reconstruction, consolidation, amalgamation, merger, transfer, sale, lease or otherwise) of the Company or its business will
not affect or in any way limit or lessen the liability of each Guarantor under this Note Guarantee. This Note Guarantee shall extend to
any Person acquiring, or from time to time carrying on, the business of the Company.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 5 - TAX INDEMNITY</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.65pt">Any and all payments under this Note Guarantee to or for the account of any Noteholder
shall be made free and clear of, and without deduction or withholding for or on account of, any Tax, except for Taxes on the net income
or capital of a Noteholder or Taxes resulting from such Noteholder changing its residency for tax purposes or to the extent such deduction
or withholding is required by applicable law. If any Tax is required by applicable law to be deducted or withheld from any such payments
by any Guarantor, such Guarantor will make such deductions or withholding and pay to the relevant taxing authority the full amount deducted
or withheld (including, without limitation, the full amount of any additional Tax required to be deducted or withheld from or otherwise
paid in respect of any payment made to any Noteholder pursuant to this Section 5(a) as provided below) before penalties attach thereto
or interest accrues thereon. In the event of the imposition by or for the account of any Applicable Taxing Authority or of any Governmental
Authority of any jurisdiction in which any Guarantor resides for tax purposes or any jurisdiction from or through which such Guarantor
is making any payment in respect of this Note Guarantee, other than any Governmental Authority of or in the United States of America or
Canada, or any political subdivision thereof or therein, of any Indemnifiable Taxes upon or with respect to any payments in respect of
this Note Guarantee, whether by withholding or otherwise, such Guarantor hereby agrees to pay forthwith from time to time in connection
with each payment on this Note Guarantee to the Noteholders such additional amounts as shall be required so that every payment received
by any Noteholder in respect of the Guaranteed Obligations and every payment received by any Noteholder under this Note Guarantee will
not, after such withholding or deduction or other payment for or on account of such Tax (including, without limitation, the full amount
of any additional Tax required to be deducted or withheld from or otherwise paid in respect of any additional amount paid to the any Noteholder
pursuant to this Section 5(a) as provided below) and any interest or penalties relating thereto, be less than the amount due and payable
to the Noteholder, as applicable, in respect of such Guaranteed Obligations or under this Note Guarantee before the assessment of such
Tax. In addition, each Guarantor shall indemnify each Noteholder for the full amount of Indemnifiable Taxes paid or required to be paid
on amounts payable pursuant to this Note Guarantee and any liability (including penalties, interest and expenses) arising therefrom, together
with such amounts as will result in the Noteholder, as applicable, receiving the amount that would otherwise have been received by it
in the absence of such Indemnifiable Taxes and the indemnification provided for herein. Except where any Guarantor is required to deduct
or withhold any Indemnifiable Tax, the Noteholders, upon becoming aware of any Noteholder&rsquo;s liability (or potential liability) for any Indemnifiable
Taxes, shall promptly notify the Guarantors of any such liability (or potential liability) for such Indemnifiable Taxes for which the
Guarantors are required to indemnify any Noteholder pursuant to this Section 5(a) and of the amount payable to it by the Guarantors pursuant
hereto, and the Guarantors shall jointly and severally pay such amounts either (i) directly to the Applicable Taxing Authority or other
relevant Governmental Authority that imposed such Indemnifiable Taxes, as the case may be, on or before the date such Indemnifiable Taxes
are due or (ii) if any Noteholder has already paid such Indemnifiable Taxes, to such Noteholder within 10 days of the receipt of such
notice and if such Indemnifiable Taxes are not paid on or before the date specified in clause (i) or within the period specified in clause
(ii), as the case may be, such amounts shall bear interest at the Default Rate thereafter. Each Noteholder shall determine the amount
payable to it, which determination shall be conclusive in the absence of mathematical error, and no Noteholder shall be required to disclose
any confidential or proprietary information in connection with such determination.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.65pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">Within 60 days after the date of any payment by any Guarantor of any Tax pursuant
to Section 5(a) in respect of any payment in respect of the Guaranteed Obligations or this Section 5, such Guarantor shall furnish to
each Noteholder the original tax receipt for the payment of such Tax (or if such original tax receipt is not available, a duly certified
copy of the original tax receipt), together with such other documentary evidence with respect to such payments as may be reasonably requested
from time to time by any Noteholder. If a Guarantor shall have determined, with respect to any Noteholder, that a deduction or withholding
of Tax is required to be made, and that no amounts are required to be paid to such Noteholder under Section 5(a) as the result of any
exemption therefrom as provided in Section 5(a), such Guarantor shall promptly inform such Noteholder, in writing, of the imposition or
withholding of such Tax and of the applicable exemption set forth in Section 5(a) that the Guarantor claims releases such Guarantor from
the obligation to pay any such amount otherwise payable under Section 5(a).</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 20.9pt">The obligations of the Guarantors under this Section 5 shall survive the payment
of any of the Guaranteed Obligations.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">If any Guarantor has made a payment to or on account of any Noteholder
                                                             pursuant to Section 5(a) and such Noteholder is entitled to a refund of the Tax to which such payment is attributable from the
                                                             Governmental Authority to which the payment of the Tax was made and such refund is readily determinable by such Noteholder (such
                                                             amount to be no greater than an amount that, if paid to such Guarantor by such Noteholder, would leave such Noteholder in no worse
                                                             position than would have existed had such Tax not been required by applicable law to be paid) and can be obtained by filing one or
                                                             more Forms (so long as such Forms do not impose, in such Noteholder&rsquo;s determination, an unreasonable burden in time, resources
                                                             or otherwise on such Noteholder), then (i) such Noteholder shall, as soon as reasonably practicable after receiving a written
                                                             request therefor from such Guarantor (which request shall specify in reasonable detail
the Forms to be filed), file such Forms and (ii) upon receipt of such refund, if any, as soon as reasonably practicable pay over such
refund to such Guarantor without interest. This Section 5(d) shall not require any Noteholder (x) to account for any indirect taxation
benefits arising from the deducting or withholding of any Tax, (y) to disclose any confidential or proprietary information, or (z) to
arrange its tax or financial affairs in any particular manner.</TD></TR></TABLE>

<P STYLE="margin: 0pt 20.6pt 0pt 84pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt; text-align: justify"><B>SECTION 6 - MISCELLANEOUS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.1</B></TD><TD><B>Amendments, Etc.</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee may be amended, and the observance of
any term hereof may be waived (either retroactively or prospectively), with (and only with) the written consent of each Guarantor and
the Required Holders, except that no such amendment or waiver may, without the written consent of each Noteholder, amend any provision
of Section 2 or this Section 6.1.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.2</B></TD><TD><B>Notices</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">All notices and communications provided for hereunder shall
be in writing and sent as provided in Section 20 of the Note Purchase Agreement.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.3</B></TD><TD><B>Venue</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.95pt 0pt 12pt; font-size: 10pt; text-align: justify">ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS NOTE
GUARANTEE AGAINST A GUARANTOR MAY BE BROUGHT IN THE COURTS OF THE PROVINCE OF ONTARIO, WHICH COURTS THE PARTIES HERETO ACKNOWLEDGE IRREVOCABLY
TO BE A CONVENIENT FORUM FOR THE RESOLUTION OF ANY SUCH LEGAL ACTION OR PROCEEDING. THE COMPANY AND EACH GUARANTOR HEREBY CONSENTS TO
THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">EACH OF THE GUARANTORS HEREBY IRREVOCABLY DESIGNATES
AND APPOINTS THE COMPANY (THE &ldquo;<B>PROCESS AGENT</B>&rdquo;) AT ITS REGISTERED OFFICE FROM TIME TO TIME, WHICH OFFICE IS
CURRENTLY LOCATED AT 1155 BAY STREET, SUITE 600, TORONTO, ONTARIO, M5R 2A9, AS THE AUTHORIZED AGENT UPON WHICH PROCESS MAY BE SERVED
IN ANY SUIT OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS NOTE GUARANTEE WHICH MAY BE INSTITUTED IN THE PROVINCE OF
ONTARIO AND AGREES THAT SERVICE OF PROCESS ON THE PROCESS AGENT TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH GUARANTOR BY
THE PERSON SERVING THE SAME SHALL, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BE DEEMED IN EVERY RESPECT TO BE EFFECTIVE SERVICE OF
PROCESS ON SUCH GUARANTOR, AS THE CASE MAY BE. HOWEVER, NOTHING IN THIS SECTION 6.3 SHALL AFFECT THE RIGHT OF ANY NOTEHOLDER TO
SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW OR AFFECT THE RIGHT OF ANY NOTEHOLDER TO BRING ANY ACTION OR
PROCEEDING AGAINST THE COMPANY OR ANY GUARANTOR OR THEIR PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTION INCLUDING, WITHOUT
LIMITATION THE STATE OF NEW YORK.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.4</B></TD><TD><B>Judgment Currency</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">If for the purpose of obtaining judgment in any court it is necessary to convert
an amount due hereunder in the currency in which it is due (the &ldquo;<B>Original Currency</B>&rdquo;) into another currency (the &ldquo;<B>Second
Currency</B>&rdquo;), the rate of exchange applied shall be that at which, in accordance with normal banking procedures, a Noteholder
could purchase, in the Toronto foreign exchange market, the Original Currency with the Second Currency on the date 2 Business Days preceding
that on which judgment is given. Each Guarantor agrees that its obligation in respect of any Original Currency due from it to any Noteholder
hereunder shall, notwithstanding any judgment or payment in such other currency, be discharged only to the extent that, on the Business
Day following the date such Noteholder receives payment of any sum so adjudged to be due hereunder in the Second Currency such Noteholder
may, in accordance with normal banking procedures, purchase, in the Toronto foreign exchange market the Original Currency with the amount
of the Second Currency so paid; and if the amount of the Original Currency so purchased or could have been so purchased is less than the
amount originally due in the Original Currency, each Guarantor agrees as a separate obligation and notwithstanding any such payment or
judgment to indemnify such Noteholder against such loss.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">The term &ldquo;<B>rate of exchange</B>&rdquo; in this Section 6.4 means the spot
rate at which the Noteholder in accordance with normal practices is able on the relevant date to purchase the Original Currency with the
Second Currency and includes any premium and costs of exchange payable in connection with such purchase.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.5</B></TD><TD><B>Successors and Assigns</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">All covenants and other agreements of each Guarantor in
this Note Guarantee shall bind its successors (including any successor by way of amalgamation or merger) and assigns and shall enure to
the benefit of the Noteholders and their respective successors and assigns; provided, however, no Guarantor shall assign this Note Guarantee
or delegate any of its duties hereunder without the Noteholders&rsquo; prior written consent and any assignment made without such consent
shall be absolutely null and void.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.6</B></TD><TD><B>Severability</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">Any provision of this Note Guarantee that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full
extent permitted by applicable law) not invalidate or render unenforceable such provision in any other jurisdiction.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.7</B></TD><TD><B>Construction</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify">Each agreement contained herein shall be construed (absent
express provision to the contrary) as being independent of each other agreement contained herein, so that compliance with any one agreement
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other agreement. Where any provision herein
refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether
such action is taken directly or indirectly by such Person.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.8</B></TD><TD><B>Expenses</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">The Guarantors shall jointly and severally pay on demand
all costs and expenses, including, without limitation, all court costs and attorneys&rsquo; and paralegals&rsquo; fees (including allocated
costs of in-house counsel and paralegals) and expenses paid or incurred by any Noteholder in connection with the enforcement of this Note
Guarantee or the preservation of its rights as a result of any breach by any Guarantor of its obligations hereunder and any actual or
proposed amendment, waiver or consent relating thereto (whether or not executed).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.9</B></TD><TD><B>Rights Cumulative</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">Each of the rights and remedies of the Noteholders under
this Note Guarantee shall be in addition to all of their other rights and remedies under applicable law, and nothing in this Note Guarantee
shall be construed as limiting any such rights or remedies.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.10</B></TD><TD><B>Survival of Representations and Warranties</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">All representations and warranties contained herein shall
survive the execution and delivery of this Note Guarantee, the Note Purchase Agreement and the Notes.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.11</B></TD><TD><B>No Third Party Beneficiary</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 21pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee is solely for the benefit of the Noteholders
and their successors and assigns and may not be relied on by any other Person.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.12</B></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee shall be governed by, and construed
and interpreted in accordance with, the laws of the Province of Ontario and the federal laws of Canada applicable therein, excluding choice
of law principles of the law of such province that would require the application of the laws of a jurisdiction other than such province.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.13</B></TD><TD><B>Counterparts</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee may be executed in any number of counterparts
and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an original but all such
counterparts shall together constitute one and the same Note Guarantee. Delivery of an executed counterpart of this Note Guarantee by
facsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Note Guarantee. Any
party delivering an executed counterpart of this Note Guarantee by facsimile or electronic mail also shall deliver an original executed
counterpart of this Note Guarantee but the failure to deliver an</P>

<P STYLE="margin: 0pt 21pt 0pt 12pt; font-size: 10pt; text-align: justify">original executed counterpart shall not affect the validity,
enforceability, and binding effect of this Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.14</B></TD><TD><B>Additional Parties</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.75pt 0pt 12pt; font-size: 10pt; text-align: justify">At any time after the date of this Note Guarantee, one or
more additional persons or entities may become parties hereto by executing and delivering to the Noteholders a counterpart of this Note
Guarantee substantially in the form attached as Schedule &ldquo;A&rdquo; hereto (each, a &ldquo;<B>Counterpart to Note Guarantee</B>&rdquo;).
Immediately upon such execution and delivery (and without any further action), each such additional person or entity will become a Guarantor
hereunder, and will be bound by all of the terms of, this Note Guarantee as if such person or entity had been an original party hereto
as a Guarantor. The addition of any additional Guarantor hereunder shall not require the consent of any other Guarantor and all of the
Guaranteed Obligations under this Note Guarantee shall remain in full force and effect notwithstanding the addition of any such additional
Guarantor to this Note Guarantee. Each reference to &ldquo;Guarantor&rdquo; (or any words of like import referring to a Guarantor) in
this Note Guarantee, the Note Purchase Agreement, the Notes or any other Financing Document shall also mean any additional person that
becomes a Guarantor hereunder after the date of this Note Guarantee; and each reference in this Note Guarantee, the Note Purchase Agreement,
the Notes or any other Financing Document to this &ldquo;Note Guarantee&rdquo; (or words of like import referring to this Note Guarantee)
shall mean this Note Guarantee as supplemented by each Counterpart to Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.15</B></TD><TD><B>Agreement to be Bound</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.85pt 0pt 12pt; font-size: 10pt; text-align: justify">Each Guarantor hereby agrees to be bound by each and all
of the terms and provisions of the Note Purchase Agreement applicable to any Guarantor. Without limiting the generality of the foregoing,
by its execution and delivery of this Note Guarantee, each Guarantor hereby:</P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">(a) makes to each Noteholder each of the representations
and warranties set forth in the Note Purchase Agreement applicable to any Guarantor fully as though such Guarantor were a party thereto,
and such representations and warranties are incorporated herein by this reference, <I>mutatis mutandis</I>; and (b) agrees and covenants
(i) to do each of the things set forth in the Note Purchase Agreement that the Company agrees and covenants to cause any Guarantor to
do, and</P>

<P STYLE="margin: 0pt 20.65pt 0pt 12pt; font-size: 10pt; text-align: justify">(ii) to not do each of the things set forth in the Note
Purchase Agreement that the Company agrees and covenants to cause any Guarantor not to do, in each case, fully as though such Guarantor
was a party thereto, and such agreements and covenants are incorporated herein by this reference, <I>mutatis mutandis</I>.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12pt"></TD><TD STYLE="width: 36pt"><B>6.16</B></TD><TD STYLE="text-align: justify"><B>Entire Agreement</B></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify">This Note Guarantee and the other Financing Documents represent
the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements
of the parties. There are no unwritten oral agreements among the parties relating to the subject matter hereof.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">[Remainder of page
intentionally left blank. Next page is signature page.]</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center"></P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center"></P>

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<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 26.55pt 0pt 12pt; font-size: 10pt"><B>IN WITNESS WHEREOF</B>, this Note Guarantee has been duly executed by the
Guarantors as of the day and year first above written.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Per:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name: </TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0 0pt 246.8pt; font-size: 10pt"></P>

<P STYLE="margin: 0pt 9pt 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 9pt 0pt 0; font-size: 10pt; text-align: center"><B>Schedule &ldquo;A&rdquo;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 9.05pt 0pt 0; font-size: 10pt; text-align: center"><B>FORM OF COUNTERPART TO CANADIAN GUARANTEE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 73.65pt 0pt 64.7pt; font-size: 10pt; text-align: center"><B>(&ldquo;[Corporation Name]&rdquo;)</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 20.7pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>REFERENCE </B>is hereby made to: (1) that certain Master
Note Agreement, dated September 29, 2022 (as may be amended, restated or otherwise modified and in effect from time to time, the &ldquo;<B>Note
Purchase Agreement</B>&rdquo;), among FirstService Corporation (the &ldquo;<B>Company</B>&rdquo;), NYL Investors LLC, and each of the
holders of the Notes from time to time party thereto; and (2) that certain Canadian Guarantee (as amended, restated or otherwise modified
and in effect from time to time, the &ldquo;<B>Note Guarantee</B>&rdquo;) in the form attached to the Note Purchase Agreement as Exhibit
D and dated as of [ &#9679; ].</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.8pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>WHEREAS</B>, pursuant to the terms of the Note Purchase
Agreement, the undersigned (the &ldquo;<B>Guarantor</B>&rdquo;) is required to become a party to the Note Guarantee in favour of the Noteholders,
and to guarantee the performance of the Guaranteed Obligations (as defined in the Note Guarantee) to the Noteholders;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 20.9pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>AND WHEREAS</B>, the undersigned is a Subsidiary of the
Company acquired or formed subsequent to the effective date of the Note Guarantee and, pursuant to the terms and conditions of the Note
Purchase Agreement and Section 6.14 of the Note Guarantee, is required to execute a counterpart to the Note Guarantee.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 21pt 0pt 12pt; font-size: 10pt; text-align: justify"><B>NOW THEREFORE</B>, for good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the undersigned hereby:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">acknowledges that it has recently become a &ldquo;Guarantor&rdquo; as such term
is defined in the Note Purchase Agreement,</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 20.7pt">in its capacity as Guarantor, (i) acknowledges and agrees to be bound by the terms
of the Note Guarantee, (ii) represents and warrants as to itself that the representations and warranties contained in Section 3 of the
Note Guarantee are true and correct in all material respects as of the date hereof,</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD>acknowledges having read the Note Guarantee, and</TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 20.75pt">affirms the obligations (including the Guaranteed Obligations) imposed on it under
the Note Guarantee.</TD></TR></TABLE>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt"><B>EXECUTED </B>as of this  <U>__ </U>day of_________, 20<U>__</U>.</P>

<P STYLE="margin: 0pt 0 0pt 12pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2"><B>[CORPORATE NAME]</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 56%">&nbsp;</TD>
  <TD STYLE="width: 7%">&nbsp;</TD>
  <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">Authorized Signing Officer</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">I have the authority to bind the Corporation</TD>
    <TD>&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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