<SEC-DOCUMENT>0001171843-22-004126.txt : 20220603
<SEC-HEADER>0001171843-22-004126.hdr.sgml : 20220603
<ACCEPTANCE-DATETIME>20220603161517
ACCESSION NUMBER:		0001171843-22-004126
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20220603
FILED AS OF DATE:		20220603
DATE AS OF CHANGE:		20220603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Colliers International Group Inc.
		CENTRAL INDEX KEY:			0000913353
		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:	001-36898
		FILM NUMBER:		22994560

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRSTSERVICE CORP
		DATE OF NAME CHANGE:	19931013
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_060322.htm
<DESCRIPTION>FORM 6-K
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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"></P>

<P STYLE="font-size: 18pt; font-weight: bold; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><U>FORM 6-K</U></FONT></P>

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

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

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

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Commission file number 001-36898</P>

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

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

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

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

<P STYLE="font-size: 18pt; font-weight: bold; text-align: center; text-indent: -4.5pt; margin: 0pt 0"><FONT STYLE="font-size: 18pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></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="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>1140 Bay Street, Suite 4000</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>M5S 2B4</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">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;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;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="margin: 0pt 0 0pt 1in; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</P>

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD><B>&nbsp;</B></TD>
  <TD COLSPAN="2"><B>COLLIERS INTERNATIONAL GROUP INC.</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 60%">&nbsp;</TD>
  <TD STYLE="width: 27%">&nbsp;</TD>
  <TD STYLE="width: 13%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Date: June 3, 2022</TD>
  <TD STYLE="border-bottom: Black 1pt solid"><I>/s/ Christian Mayer</I></TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Name: Christian Mayer</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Title: Chief Financial Officer</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; margin: 0pt 0 0pt 1in; text-indent: 1.5in"></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>

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

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

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 2.5in"></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"></P>

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

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

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

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0"></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><B>Description of Exhibit</B></TD></TR>
                                                                                                                 <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                 <TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"><A HREF="exh_991.htm">99.1</A></TD><TD><A HREF="exh_991.htm">Sustainability linked third amended and restated credit agreement dated May 27, 2022</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD><A HREF="exh_992.htm">99.2</A></TD><TD><A HREF="exh_992.htm">Material change report dated June 3, 2022.</A></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in"></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution version</I></B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SUSTAINABILITY LINKED<BR>
THIRD AMENDED AND RESTATED CREDIT AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>
DATED AS OF MAY 27, 2022</B></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
COLLIERS INTERNATIONAL GROUP INC.</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE SUBSIDIARIES NAMED ON THE EXECUTION PAGES
HEREOF</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE BANKS NAMED ON THE EXECUTION PAGES HEREOF</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION
AGENT</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AS SOLE BOOKRUNNER, CO-LEAD ARRANGER AND SUSTAINABILITY
STRUCTURING AGENT</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BANK OF MONTREAL, CHICAGO BRANCH</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AS U.S. ADMINISTRATION AGENT</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BANK OF MONTREAL, LONDON BRANCH</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">HSBC BANK AUSTRALIA LIMITED</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">HSBC BANK CANADA, MIZUHO BANK, LTD., TD SECURITIES,<BR>
JPMORGAN CHASE BANK, N.A. AND U.S. BANK NATIONAL ASSOCIATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AS CO-LEAD ARRANGERS AND CO-SYNDICATION AGENTS</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BANK OF AMERICA, N.A., CANADA BRANCH, THE
BANK OF NOVA SCOTIA AND<BR>
CANADIAN IMPERIAL BANK OF COMMERCE</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&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: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;1 &ndash;&nbsp;DEFINITIONS</FONT></TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%">1.1</TD>
    <TD STYLE="width: 80%">Definitions</TD>
    <TD STYLE="text-align: right; width: 10%">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.2</TD>
    <TD>References</TD>
    <TD STYLE="text-align: right">40</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.3</TD>
    <TD>Interpretation</TD>
    <TD STYLE="text-align: right">40</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.4</TD>
    <TD>Headings and Table of Contents</TD>
    <TD STYLE="text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.5</TD>
    <TD>Accounting Terms</TD>
    <TD STYLE="text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.6</TD>
    <TD>Currency Calculations</TD>
    <TD STYLE="text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.7</TD>
    <TD>Interest Rates; Benchmark Notification</TD>
    <TD STYLE="text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.8</TD>
    <TD>Recitals</TD>
    <TD STYLE="text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.9</TD>
    <TD>Schedules</TD>
    <TD STYLE="text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.10</TD>
    <TD>Precedence</TD>
    <TD STYLE="text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">1.11</TD>
    <TD>Dutch Terms</TD>
    <TD STYLE="text-align: right">43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;2 &ndash;&nbsp;FACILITIES</FONT></TD>
    <TD STYLE="text-align: right">44</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.1</TD>
    <TD>The Credit Facilities</TD>
    <TD STYLE="text-align: right">44</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.2</TD>
    <TD>Notice and Revolving Nature of Borrowings</TD>
    <TD STYLE="text-align: right">44</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.3</TD>
    <TD>Conversion</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.4</TD>
    <TD>Making Borrowings</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.5</TD>
    <TD>Participation of Each Lender; Defaulting Lender</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.6</TD>
    <TD>Bankers&rsquo; Acceptances and Existing Euribor Loans</TD>
    <TD STYLE="text-align: right">53</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.7</TD>
    <TD>Acceptance Date Procedure</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.8</TD>
    <TD>Purchase of Bankers&rsquo; Acceptances</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.9</TD>
    <TD>Payment of Bankers&rsquo; Acceptances</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.10</TD>
    <TD>Set-Off and Netting</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.11</TD>
    <TD>Letters of Credit</TD>
    <TD STYLE="text-align: right">58</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.12</TD>
    <TD>Use of Proceeds</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.13</TD>
    <TD>Incremental Facility</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.14</TD>
    <TD>Banking Services</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.15</TD>
    <TD>Applicable Foreign Borrower Sublimits and U.S. Borrower Sublimits</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">2.16</TD>
    <TD>Currency Restrictions</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;3 &ndash;&nbsp;REPAYMENT AND ACCOUNTS</FONT></TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.1</TD>
    <TD>Repayment</TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.2</TD>
    <TD>Accounts kept by the Canadian Agent</TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.3</TD>
    <TD>Accounts kept by the Canadian Swingline Lenders</TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.4</TD>
    <TD>Accounts kept by the U.S. Agent</TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.5</TD>
    <TD>Accounts kept by the U.S. Swingline Lender and the U.S. Sweep Depositary</TD>
    <TD STYLE="text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.6</TD>
    <TD>Accounts kept by the European Agent</TD>
    <TD STYLE="text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.7</TD>
    <TD>[intentionally deleted]</TD>
    <TD STYLE="text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.8</TD>
    <TD>[intentionally deleted]</TD>
    <TD STYLE="text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.9</TD>
    <TD>Accounts kept by the Australian Agent</TD>
    <TD STYLE="text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.10</TD>
    <TD>Accounts kept by the Australian Swingline Lender</TD>
    <TD STYLE="text-align: right">66</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.11</TD>
    <TD>Accounts kept by each Canadian Lender</TD>
    <TD STYLE="text-align: right">66</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.12</TD>
    <TD>Accounts kept by each U.S. Lender</TD>
    <TD STYLE="text-align: right">66</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.13</TD>
    <TD>Accounts kept by each Colliers EMEA Lender</TD>
    <TD STYLE="text-align: right">66</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.14</TD>
    <TD>Accounts kept by each UK Lender</TD>
    <TD STYLE="text-align: right">66</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.15</TD>
    <TD>Accounts kept by each Australian Lender</TD>
    <TD STYLE="text-align: right">67</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.16</TD>
    <TD>Promissory Notes</TD>
    <TD STYLE="text-align: right">67</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.17</TD>
    <TD>Excess Resulting from Exchange Rate Change</TD>
    <TD STYLE="text-align: right">67</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">3.18</TD>
    <TD>Currency</TD>
    <TD STYLE="text-align: right">68</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;4 &ndash;&nbsp;INTEREST, ACCEPTANCE FEE, LETTER OF CREDIT FEE AND COMMITMENT FEES</FONT></TD>
    <TD STYLE="text-align: right">69</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%">4.1</TD>
    <TD STYLE="width: 80%">Interest on SOFR Loans, SONIA Loans, Euribor Loans and Australian Bank Bill Rate Loans</TD>
    <TD STYLE="text-align: right; width: 10%">69</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.2</TD>
    <TD>Interest on U.S. Base Rate Loans</TD>
    <TD STYLE="text-align: right">72</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.3</TD>
    <TD>Interest on Canadian Prime Rate Loans</TD>
    <TD STYLE="text-align: right">72</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.4</TD>
    <TD>Interest on U.S. Prime Rate Loans</TD>
    <TD STYLE="text-align: right">73</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.5</TD>
    <TD>Interest on Australian Base Rate Loans</TD>
    <TD STYLE="text-align: right">73</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.6</TD>
    <TD>SOFR Interest Period / SONIA Interest Period / Euribor Interest Period / Australian Bank Bill Rate Interest Periods</TD>
    <TD STYLE="text-align: right">74</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.7</TD>
    <TD>Interest on Overdue Amounts</TD>
    <TD STYLE="text-align: right">75</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.8</TD>
    <TD>Acceptance Fee</TD>
    <TD STYLE="text-align: right">75</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.9</TD>
    <TD>Commitment Fees</TD>
    <TD STYLE="text-align: right">75</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.10</TD>
    <TD>Letter of Credit Fronting Fee</TD>
    <TD STYLE="text-align: right">76</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.11</TD>
    <TD>Effective Date for Changes in Applicable Margins</TD>
    <TD STYLE="text-align: right">77</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.12</TD>
    <TD>Interest Act Waiver</TD>
    <TD STYLE="text-align: right">77</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.13</TD>
    <TD>CDOR Discontinuation</TD>
    <TD STYLE="text-align: right">77</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">4.14</TD>
    <TD>Sustainability Adjustments</TD>
    <TD STYLE="text-align: right">78</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;5 &ndash;&nbsp;CONDITIONS PRECEDENT</FONT></TD>
    <TD STYLE="text-align: right">83</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">5.1</TD>
    <TD>Conditions Precedent to Effectiveness of this Agreement</TD>
    <TD STYLE="text-align: right">83</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">5.2</TD>
    <TD>Conditions Precedent to Subsequent Borrowings</TD>
    <TD STYLE="text-align: right">84</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">5.3</TD>
    <TD>Conditions Precedent to Borrowings to Make Acquisitions</TD>
    <TD STYLE="text-align: right">84</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;6 &ndash;&nbsp;PREPAYMENT, CANCELLATION, REALLOCATION, MANDATORY APPLICATION OF CASH PROCEEDS</FONT></TD>
    <TD STYLE="text-align: right">85</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.1</TD>
    <TD>Prepayment and Cancellation</TD>
    <TD STYLE="text-align: right">85</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.2</TD>
    <TD>Notice</TD>
    <TD STYLE="text-align: right">86</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.3</TD>
    <TD>Status of Lender</TD>
    <TD STYLE="text-align: right">86</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.4</TD>
    <TD>Fees</TD>
    <TD STYLE="text-align: right">86</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.5</TD>
    <TD>Mandatory Application of Cash Proceeds</TD>
    <TD STYLE="text-align: right">86</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">6.6</TD>
    <TD>Reallocation</TD>
    <TD STYLE="text-align: right">87</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;7 &ndash;&nbsp;SPECIAL SOFR, SONIA, EURIBOR, AUSTRALIAN BANK BILL RATE AND INCREASED COST PROVISIONS</FONT></TD>
    <TD STYLE="text-align: right">87</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.1</TD>
    <TD>Benchmark Replacement Setting</TD>
    <TD STYLE="text-align: right">87</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.2</TD>
    <TD>Increased Cost</TD>
    <TD STYLE="text-align: right">90</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.3</TD>
    <TD>Illegality</TD>
    <TD STYLE="text-align: right">91</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.4</TD>
    <TD>Indemnity</TD>
    <TD STYLE="text-align: right">91</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.5</TD>
    <TD>Other Increased Costs or Reductions in Return</TD>
    <TD STYLE="text-align: right">92</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.6</TD>
    <TD>Additional Cost in Respect of Tax; UK and Australian Tax Matters</TD>
    <TD STYLE="text-align: right">93</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.7</TD>
    <TD>Claims under Section 7.6</TD>
    <TD STYLE="text-align: right">107</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.8</TD>
    <TD>Tax Receipts</TD>
    <TD STYLE="text-align: right">107</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.9</TD>
    <TD>FATCA Information</TD>
    <TD STYLE="text-align: right">107</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.10</TD>
    <TD>FATCA Deduction</TD>
    <TD STYLE="text-align: right">108</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.11</TD>
    <TD>Internal Revenue Service Forms</TD>
    <TD STYLE="text-align: right">108</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">7.12</TD>
    <TD>Change in Law; Lending Office</TD>
    <TD STYLE="text-align: right">109</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;8 &ndash;&nbsp;REPRESENTATIONS, WARRANTIES &amp; COVENANTS</FONT></TD>
    <TD STYLE="text-align: right">109</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">8.1</TD>
    <TD>Representations and Warranties</TD>
    <TD STYLE="text-align: right">109</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">8.2</TD>
    <TD>Positive Covenants</TD>
    <TD STYLE="text-align: right">114</TD></TR>
</TABLE>

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    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%">8.3</TD>
    <TD STYLE="width: 80%">Negative Covenants</TD>
    <TD STYLE="text-align: right; width: 10%">119</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">8.4</TD>
    <TD>Financial Covenants</TD>
    <TD STYLE="text-align: right">125</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;9 &ndash;&nbsp;EVENTS OF DEFAULT</FONT></TD>
    <TD STYLE="text-align: right">125</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.1</TD>
    <TD>Events of Default</TD>
    <TD STYLE="text-align: right">125</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.2</TD>
    <TD>Bankruptcy Exception</TD>
    <TD STYLE="text-align: right">129</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.3</TD>
    <TD>Continuing Guarantees</TD>
    <TD STYLE="text-align: right">129</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.4</TD>
    <TD>Remedies Not Exclusive</TD>
    <TD STYLE="text-align: right">129</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.5</TD>
    <TD>Set Off</TD>
    <TD STYLE="text-align: right">129</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">9.6</TD>
    <TD>Sustainability Certificate Non-Delivery and No Pricing Adjustment</TD>
    <TD STYLE="text-align: right">130</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;10 &ndash;&nbsp;PAYMENTS</FONT></TD>
    <TD STYLE="text-align: right">130</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.1</TD>
    <TD>Payments to Agents/Swingline Lenders</TD>
    <TD STYLE="text-align: right">130</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.2</TD>
    <TD>Payments by Lenders to Agents</TD>
    <TD STYLE="text-align: right">135</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.3</TD>
    <TD>Payments by Agents to Borrowers</TD>
    <TD STYLE="text-align: right">135</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.4</TD>
    <TD>Distribution to Lenders and Application of Payments</TD>
    <TD STYLE="text-align: right">135</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.5</TD>
    <TD>No Set Off or Counterclaim</TD>
    <TD STYLE="text-align: right">136</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.6</TD>
    <TD>Non Receipt By Agents</TD>
    <TD STYLE="text-align: right">136</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.7</TD>
    <TD>When Due Date Not Specified</TD>
    <TD STYLE="text-align: right">136</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">10.8</TD>
    <TD>Agents&rsquo; Authority to Debit</TD>
    <TD STYLE="text-align: right">136</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;11 &ndash;&nbsp;EXPENSES</FONT></TD>
    <TD STYLE="text-align: right">137</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">11.1</TD>
    <TD>Payment of Expenses</TD>
    <TD STYLE="text-align: right">137</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">11.2</TD>
    <TD>Survival</TD>
    <TD STYLE="text-align: right">138</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">11.3</TD>
    <TD>Environmental Indemnity</TD>
    <TD STYLE="text-align: right">138</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;12 &ndash;&nbsp;FEES</FONT></TD>
    <TD STYLE="text-align: right">139</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">12.1</TD>
    <TD>Agency, Arrangement and other Fees</TD>
    <TD STYLE="text-align: right">139</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">12.2</TD>
    <TD>Miscellaneous</TD>
    <TD STYLE="text-align: right">139</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;13 &ndash;&nbsp;THE AGENTS</FONT></TD>
    <TD STYLE="text-align: right">140</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.1</TD>
    <TD>Agents</TD>
    <TD STYLE="text-align: right">140</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.2</TD>
    <TD>Agents&rsquo; Responsibility</TD>
    <TD STYLE="text-align: right">140</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.3</TD>
    <TD>Agents&rsquo; Duties</TD>
    <TD STYLE="text-align: right">141</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.4</TD>
    <TD>Protection of Agents</TD>
    <TD STYLE="text-align: right">142</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.5</TD>
    <TD>Indemnification of Agents</TD>
    <TD STYLE="text-align: right">142</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.6</TD>
    <TD>Termination or Resignation of Agent</TD>
    <TD STYLE="text-align: right">143</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.7</TD>
    <TD>Rights of an Agent as Lender</TD>
    <TD STYLE="text-align: right">143</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.8</TD>
    <TD>Authorized Waivers, Variations and Omissions</TD>
    <TD STYLE="text-align: right">143</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.9</TD>
    <TD>Financial Information Concerning the Borrowers or Guarantors</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.10</TD>
    <TD>Knowledge of Financial Situation of Borrowers</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.11</TD>
    <TD>Legal Proceedings</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.12</TD>
    <TD>Capacity as Agent</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.13</TD>
    <TD>Deposits or Loans Respecting the Borrowers</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.14</TD>
    <TD>Separate Administration Agent</TD>
    <TD STYLE="text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.15</TD>
    <TD>Agent Titles</TD>
    <TD STYLE="text-align: right">146</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.16</TD>
    <TD>Parallel Debt Obligations</TD>
    <TD STYLE="text-align: right">146</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">13.17</TD>
    <TD>Erroneous Payments.</TD>
    <TD STYLE="text-align: right">147</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;14 &ndash;&nbsp;ASSIGNMENTS AND TRANSFERS</FONT></TD>
    <TD STYLE="text-align: right">148</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>


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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%">14.1</TD>
    <TD STYLE="width: 80%">Benefit of Agreement</TD>
    <TD STYLE="text-align: right; width: 10%">148</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.2</TD>
    <TD>Assignments and Transfers by a Borrower or a Guarantor</TD>
    <TD STYLE="text-align: right">149</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.3</TD>
    <TD>Assignments and Transfers by a Lender</TD>
    <TD STYLE="text-align: right">149</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.4</TD>
    <TD>Transfer Certificate</TD>
    <TD STYLE="text-align: right">151</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.5</TD>
    <TD>Notice</TD>
    <TD STYLE="text-align: right">151</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.6</TD>
    <TD>Sub-Participations</TD>
    <TD STYLE="text-align: right">151</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.7</TD>
    <TD>Disclosure</TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.8</TD>
    <TD>Assignment to Federal Reserve Bank</TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">14.9</TD>
    <TD>Assignment of Swingline Loans and Commitments</TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;15 &ndash;&nbsp;GOVERNING LAW, COURTS AND JUDGMENT CURRENCY</FONT></TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">15.1</TD>
    <TD>Governing Law</TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">15.2</TD>
    <TD>Courts</TD>
    <TD STYLE="text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">15.3</TD>
    <TD>Judgment Currency</TD>
    <TD STYLE="text-align: right">153</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;16 &ndash;&nbsp;MISCELLANEOUS</FONT></TD>
    <TD STYLE="text-align: right">153</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.1</TD>
    <TD>Equal Ranking of Lenders</TD>
    <TD STYLE="text-align: right">153</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.2</TD>
    <TD>Sharing of Information</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.3</TD>
    <TD>Severability</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.4</TD>
    <TD>Remedies and Waivers</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.5</TD>
    <TD>Direct Obligation</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.6</TD>
    <TD>Notices</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.7</TD>
    <TD>Counterparts</TD>
    <TD STYLE="text-align: right">155</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.8</TD>
    <TD>Calculation/Limit on Rate of Interest</TD>
    <TD STYLE="text-align: right">155</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.9</TD>
    <TD>USA Patriot Act Notice</TD>
    <TD STYLE="text-align: right">156</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.10</TD>
    <TD>Canadian Anti-Money Laundering Legislation.</TD>
    <TD STYLE="text-align: right">156</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.11</TD>
    <TD>Know Your Customer</TD>
    <TD STYLE="text-align: right">157</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.12</TD>
    <TD>Australian Anti-Money Laundering Legislation</TD>
    <TD STYLE="text-align: right">157</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.13</TD>
    <TD>[Intentionally deleted]</TD>
    <TD STYLE="text-align: right">157</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.14</TD>
    <TD>Acknowledgement and Consent to Bail-In of Affected Financial Institutions.</TD>
    <TD STYLE="text-align: right">157</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.15</TD>
    <TD>Borrower Acknowledgement</TD>
    <TD STYLE="text-align: right">158</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.16</TD>
    <TD>Acknowledgement Regarding Any Supported QFCs</TD>
    <TD STYLE="text-align: right">158</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">16.17</TD>
    <TD>Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right">159</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="text-transform: uppercase">Article&nbsp;17 AMENDMENT AND RESTATEMENT</FONT></TD>
    <TD STYLE="text-align: right">159</TD></TR>
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    <TD STYLE="width: 86%; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;A&#8221;</TD>
    <TD STYLE="text-align: justify">Unrestricted Entities</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;B&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Repayment Notice</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;C&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Transfer Certificate</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;D&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Conversion Notice</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;E&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Drawdown Notice</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;F&#8221;</TD>
    <TD STYLE="text-align: justify">Details of Issue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;G&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Compliance Certificate</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H&#8221;-1</TD>
    <TD STYLE="text-align: justify">Canadian Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H-2&#8221;</TD>
    <TD STYLE="text-align: justify">U.S. Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H-3&#8221;</TD>
    <TD STYLE="text-align: justify">UK Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H-4&#8221;</TD>
    <TD STYLE="text-align: justify">Colliers EMEA Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H-5&#8221;</TD>
    <TD STYLE="text-align: justify">Australian Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;H-6&#8221;</TD>
    <TD STYLE="text-align: justify">Total Commitments</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;I&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Officer&#8217;s Certificate Re: Acquisition Facility</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;J&#8221;</TD>
    <TD STYLE="text-align: justify">Permitted Encumbrances</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;K&#8221;</TD>
    <TD STYLE="text-align: justify">Form of <B>[U.S.] [UK] [Colliers EMEA] [Australian] </B>Promissory Note</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;L&#8221;</TD>
    <TD STYLE="text-align: justify">Form of Sustainability Certificate</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; text-align: justify">&#8220;M&#8221;</TD>
    <TD STYLE="text-align: justify">Baseline Sustainability Levels</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SUSTAINABILITY
LINKED<BR>
THIRD AMENDED AND RESTATED CREDIT AGREEMENT</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">DATED AS OF MAY
27, 2022</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>COLLIERS INTERNATIONAL GROUP INC.</B>,
a corporation duly organized and existing under the laws of Ontario (the &#8220;<B>Canadian Borrower</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>COLLIERS MACAULAY NICOLLS INC.</B>,
a corporation duly organized and existing under the laws of Ontario (&#8220;<B>CMN</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>COLLIERS INTERNATIONAL HOLDINGS (USA),
INC.</B>, a corporation duly organized and existing under the laws of the State of Delaware (the &#8220;<B>U.S. Borrower</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>GLOBESTAR LIMITED</B>, a company incorporated
in England and Wales with company number 05159841 (the &#8220;<B>UK Borrower</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS
LIMITED</B>, a company incorporated in England and Wales with company number 10053084 (&#8220;<B>Colliers EMEA</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO
U.A.</B>, a cooperative with excluded liability (co&ouml;peratie met uitgesloten aansprakelijkheid) incorporated under the laws of the
Netherlands, having its corporate seat (statutaire zetel) in Eindhoven, the Netherlands and registered with the Dutch trade register under
number 51267713 (the &#8220;<B>Dutch Borrower</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED ACN 008 178 238</B>, a corporation duly incorporated and existing under the laws of Australia (the &#8220;<B>Australian Borrower</B>&#8221;),</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES HEREOF</B>, as Guarantors,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>THE BANKS NAMED ON THE EXECUTION PAGES
HEREOF</B>, as Lenders,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>BANK OF MONTREAL</B>, as Administration
Agent and Canadian Administration Agent</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>BANK OF MONTREAL, CHICAGO BRANCH</B>,
as U.S. Administration Agent,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>BANK OF MONTREAL, LONDON BRANCH</B>,
as European Agent,</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>HSBC BANK AUSTRALIA LIMITED</B>, as
Australian Agent,</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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"><B>BMO CAPITAL MARKETS</B>,
as Sustainability Structuring Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>WHEREAS</B> the Canadian
Borrower, the U.S. Borrower, the UK Borrower, Dutch Borrower and the Australian Borrower (collectively, the &#8220;<B>Original Borrowers</B>&#8221;),
certain subsidiaries named on the execution pages thereof (together with the Original Borrowers, collectively, the &#8220;<B>Original
Credit Parties</B>&#8221;), the Agents (as defined therein) and the banks named on the execution pages thereof, as lenders (the &#8220;<B>Original
Lenders</B>&#8221;) entered into a credit agreement dated as of June 1, 2015 (the &#8220;<B>Original Credit Agreement</B>&#8221;), pursuant
to which the Original Lenders granted certain Facilities (as defined therein) to the Original Borrowers, upon and subject to the terms
and conditions contained in the Original 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>AND WHEREAS</B>, the Original
Credit Parties and certain additional Guarantors (collectively, the &#8220;<B>First Amendment Credit Parties</B>&#8221;), the Agents (as
defined therein) and the Original Lenders entered into an amended and restated credit agreement dated as of January 18, 2017 (the &#8220;<B>First
Amended and Restated Credit Agreement</B>&#8221;), to amend and restate the Original Credit Agreement to provide for, among other things,
an increase in the commitments and a release of certain collateral security held by the Agents or the Lenders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>AND WHEREAS</B>, the First
Amendment Credit Parties, the Agents (as defined therein) and the Original Lenders entered into a second amended and restated credit agreement
dated as of April 19, 2018 (as amended from time to time, the &#8220;<B>Second Amended and Restated Credit Agreement</B>&#8221;), to amend
and restate the First Amended and Restated Credit Agreement to provide for, among other things, a further increase in the commitments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>AND WHEREAS</B>, the Canadian
Borrower has requested that the Second Amended and Restated Credit Agreement be amended and restated in its entirety as of the Effective
Date to provide for, among other things, a further increase in the commitments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>AND WHEREAS</B>, the Lenders
(as hereinafter defined) have agreed, subject to the terms and conditions set forth herein, to amend and restate the Second Amended and
Restated Credit Agreement as of the Effective Date, to grant the Facilities (as hereinafter defined);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>NOW THEREFORE</B> in consideration
of the respective covenants of the parties contained herein and other good and valuable consideration (the receipt and sufficiency of
which is hereby acknowledged) the parties agree as follows:</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: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;1</FONT><BR>
&#8211;&nbsp;DEFINITIONS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">1.1</TD><TD STYLE="text-align: justify">Definitions</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">In this Agreement, unless the context otherwise
requires, the terms defined in the introduction of the parties and the recitals shall have, as herein used, the same meanings and:</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">&#8220;<B>2021 Baseline Report</B>&#8221; means
a report delivered by the Canadian Borrower pursuant to Section 8.2(h)(iv) that sets forth the calculations for the Baseline GHG Emission
Intensity and the Baseline Percentage of Women in Management Roles, verified by the applicable Sustainability Auditor on a limited assurance
basis.</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"><B>&#8220;Absolute GHG Emissions&#8221; </B>means,
for any period, the total aggregate amount of Scope 1 Emissions and Scope 2 Emissions for such period, which, for greater certainty, will
not include the purchase of carbon offsets.</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"><B>&#8220;Acceptance Date&#8221;</B> means any
Business Day on which a Bankers&#8217; Acceptance is or is requested to be issued hereunder.</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"><B>&#8220;Acceptance Fee&#8221;</B> means in respect
of any Bankers&#8217; Acceptance outstanding at any time on or after the Effective Date the Acceptance Fees described in the definition
of Applicable Margin.</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"><B>&#8220;Accommodation&#8221;</B> has the meaning
ascribed thereto in Section 7.5(a).</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"><B>&#8220;Accounts&#8221;</B> means the accounts
kept by the Administration Agent, the Canadian Agent, the Canadian Swingline Lenders, the U.S. Agent, the U.S. Swingline Lender, the U.S.
Sweep Depositary, the European Agent, the Australian Agent, the Australian Swingline Lender, as the case may be, pursuant to Section 3.2,
3.3, 3.4, 3.5, 3.6, 3.9 and 3.10, to record the Borrowers&#8217; liabilities to the Agents and each Lender under this Agreement.</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"><B>&#8220;Acquisition Entity&#8221;</B> means
an Eligible Business acquired by the Canadian Borrower or a Subsidiary thereof (other than Unrestricted Entities) as permitted under this
Agreement.</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"><B>&#8220;Acquisition Expenses&#8221;</B> means
one&#45;time professional costs and expenses incurred by Canadian Borrower or any of its Subsidiaries in connection with the consummation
of the acquisition of an Acquisition Entity.</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"><B>&#8220;Additional Compensation&#8221; </B>has
the meaning ascribed thereto in Section 7.2.</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">&#8220;<B>Additional Guarantors</B>&#8221; has
the meaning ascribed thereto in the recitals.</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"><B>&#8220;Additional Other Compensation&#8221;</B>
has the meaning ascribed thereto in Section 7.5.</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">&#8220;<B>Adjusted Daily Simple SOFR</B>&#8221;
means, for purposes of any calculation, the rate per annum equal to (a) Daily Simple SOFR for such calculation plus (b) the Daily Simple
SOFR Adjustment; provided that, if the Adjusted Daily Simple SOFR as so determined shall ever be less than the Floor, then the Adjusted
Daily Simple SOFR shall be deemed to be the Floor.</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">&#8220;<B>Adjusted SONIA</B>&#8221; means, for
purposes of any calculation, the rate per annum equal to (a) the SONIA Rate for such calculation plus (b) the SONIA Adjustment; provided
that, if the Adjusted SONIA as so determined shall ever be less than the Floor, then the Adjusted SONIA shall be deemed to be the Floor.</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">&#8220;<B>Adjusted Term SOFR</B>&#8221; means,
for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) the Term SOFR Adjustment; provided
that, if the Adjusted Term SOFR as so determined shall ever be less than the Floor, then the Adjusted Term SOFR shall be deemed to be
the Floor.</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"><B>&#8220;Administration Agent&#8221;</B> means
Bank of Montreal, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity of administration
agent for the Lenders hereunder.</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"><B>&#8220;Advance&#8221;</B> means an advance
of money under the Facilities.</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">&#8220;<B>Affected Financial Institution</B>&#8221;
means (a) any EEA Financial Institution or (b) any UK Financial Institution.</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"><B>&#8220;Affiliate&#8221;</B> means, in respect
of any Person (the &#8220;<B>first Person</B>&#8221;), any Person which, directly or indirectly, controls or is controlled by or is under
common control with the first Person; and for the purpose of this definition, &#8220;control&#8221; (including, with correlative meanings,
the terms &#8220;controlled by&#8221; and &#8220;under common control with&#8221;) means the power to direct, or cause to be directed,
the management and policies of a Person whether through the ownership of voting shares or by contract or otherwise.</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"><B>&#8220;Agents&#8221;</B> means collectively
the Administration Agent, the Canadian Agent, the U.S. Agent, the European Agent, the Australian Agent and the Sustainability Structuring
Agent and <B>&#8220;Agent&#8221;</B> means any one of the Administration Agent, the Canadian Agent, the U.S. Agent, the European Agent,
the Australian Agent or the Sustainability Structuring Agent.</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"><B>&#8220;Agreed Currencies&#8221; </B>means U.S.
Dollars and each Alternative Currency.</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"><B>&#8220;Agreement&#8221;</B> means this Third
Amended and Restated Credit Agreement dated as of May 27, 2022 and any future amendments, supplements or modifications to it.</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"><B>&#8220;Alternative Currency&#8221; </B>means
Sterling, Euros and the Other Agreed Currencies.</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">&#8220;<B>Alternative SPT Metric</B>&#8221; has
the meaning ascribed thereto in Section 4.14(c).</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"><B>&#8220;AML Legislation&#8221;</B> has the meaning
ascribed thereto in Section 16.10(a).</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"><B>&#8220;Amount&#8221;</B> has the meaning ascribed
thereto in Section 9.1(n)(ii)(B).</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"><B>&#8220;Anti-Corruption Laws&#8221;</B> means
all laws, rules, and regulations of any jurisdiction applicable to Borrowers and their Subsidiaries from time to time concerning or relating
to bribery or corruption.</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"><B>&#8220;Applicable Foreign Borrower&#8221; </B>means
the Australian Borrower, the UK Borrower, Colliers EMEA or the Dutch Borrower, as the context may require.</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"><B>&#8220;Applicable Foreign Borrower Commitment&#8221;
</B>means the Australian Revolving Facility Commitment, the Colliers EMEA Revolving Facility Commitment or the UK Revolving Facility Commitment,
as the context may require.</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">&#8220;<B>Applicable Foreign Borrower LC Sublimit</B>&#8221;
has the meaning ascribed thereto in Section 2.11(a)(i).</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"><B>&#8220;Applicable Law&#8221;</B> means all
laws, rules, regulations and legally binding governmental guidelines applicable to the 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Applicable Margin&#8221;</B> means the
following fees, rates and margins per annum, it being understood and agreed that the Applicable Margin with respect to Loans and Letter
of Credit Fees shall be adjusted from time to time based upon the Applicable Sustainability Margin Adjustment (to be calculated and applied
as set forth in Section 4.14); provided, that in no event shall the Applicable Margin, including the Applicable Sustainability Margin
Adjustment, with respect to such Loans be less than zero percent per annum:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #E6E6E6">
    <TD STYLE="width: 11%; border: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>1.&nbsp;&nbsp;&nbsp;&nbsp; TD/CE <BR>
Ratio</B></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><B>2.&nbsp;&nbsp;&nbsp;&nbsp; TD/CE <BR>
Ratio</B></TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: center"><B>3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>TD/CE<BR>
Ratio</B></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: center"><B>4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>TD/CE<BR>
Ratio</B></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: center"><B>5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>TD/CE<BR>
Ratio</B></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 0in; text-align: center"><B>6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>TD/CE<BR>
Ratio</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&lt;1.0:1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&#8805;1.0:1 but &lt;1.5: 1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&#8805;1.5:1 but &lt;2.0: 1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&#8805;2.0:1 but &lt;2.5:1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&#8805;2.5:1 but &lt; 3.0:1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&#8805; 3.0:1</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Canadian Prime Rate Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">U.S. Base Rate Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">U.S. Prime Rate Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Australian Base Rate Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Acceptance Fee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">SOFR Margin/SONIA Margin/Euribor Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Australian Bank Bill Rate Margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Letter of Credit Fee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.125%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.45%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.70%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.00%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Commitment Fees</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.11%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.15%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.20%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.25%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0.35%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Changes in the Applicable Margins become effective in accordance with Section 4.11.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left">&nbsp;</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">&#8220;<B>Applicable Sustainability Margin Adjustment</B>&#8221;
means, for any Fiscal Year, commencing with the Fiscal Year ending December 31, 2022, with reference to the reported values of the SPT
Metrics in the Sustainability Certificate delivered for the end of the most recently ended Fiscal Year, the sum of each &#8220;Adjustment
to the Applicable Margin&#8221; for each SPT Metric set forth in the table below, provided that (i) the maximum cumulative increase or
decrease to the Applicable Margin for all of the SPT Metrics in aggregate in any one Fiscal Year shall be five (5) basis points, and the
maximum cumulative increase or decrease to the Commitment Fee for all of the SPT Metrics in aggregate in any one Fiscal Year shall be
one (1) basis point and (ii) each applicable adjustment pursuant to this definition shall only apply until the date on which the next
adjustment is to take place:</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 12%; text-align: left"><FONT STYLE="font-size: 10pt"><B>SPT Metric</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 10%; text-align: left"><FONT STYLE="font-size: 10pt"><B>Fiscal Year Ending</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: middle; width: 9%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Level</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 31%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Target</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 19%; text-align: center"><FONT STYLE="font-size: 10pt">Adjustment to the fees, rates and margins in the pricing grid referred to in the definition of Applicable Margin (in bps) (excluding Commitment Fees)</FONT></TD>
    <TD STYLE="border: Black 1pt solid; vertical-align: top; width: 19%; text-align: center"><FONT STYLE="font-size: 10pt">Adjustment to the Commitment Fees (in bps) referred to in the definition of Applicable Margin</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="22" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><B>GHG Emission Intensity (measured against Baseline GHG Emission Intensity)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2022</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">SBTi Submission</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-0.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">No SBTi Submission </FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.4</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="5" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2023</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 8.4% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 8.4% but 5.0% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 5.0% or increased by less than 2.5%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">IV</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has increased by 2.5% or more but less than 8.4%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">V</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has increased by 8.4% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="5" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2024</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 12.6% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-0.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 12.6% but 7.5% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 7.5% or increased by less than 0.0%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">IV</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has increased by 0.0% or more but less than 4.2%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">V</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has increased by 4.2% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.4</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="5" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2025</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 16.8% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 16.8% but 10.0% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 10.0% but more than 2.5%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">IV</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 2.5% or more but less than 0.0%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">V</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has increased by more than 0.0%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.4</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="5" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2026</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 21.0% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">-0.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 21.0% but more than 12.5% </FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 12.5% but 5.0% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">IV</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by less than 5.0% but more than 4.2% </FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">IV</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">If GHG Emission Intensity has decreased by 4.2% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 12; 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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- 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="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD ROWSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 12%"><FONT STYLE="font-size: 10pt"><B>Percentage of Women in Management Roles</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 10%"><FONT STYLE="font-size: 10pt">December 31, 2022</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify; width: 9%"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; width: 31%"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 37% or more</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 19%"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border: Black 1pt solid; vertical-align: top; text-align: center; width: 19%"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is less than 37% but more than 34%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 34% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2023</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 38% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is less than 38% but more than 35%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 35% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2024</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 39% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is less than 39% but more than 36%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 36% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2025</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 40% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is less than 40% but more than 37%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 37% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2026</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 41% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is less than 41% but more than 38%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of Women in Management Roles is 38% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.4</FONT></TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 13; 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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- 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="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 12%"><FONT STYLE="font-size: 10pt"><B>Percentage of WELL-Certified Properties</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; width: 10%"><FONT STYLE="font-size: 10pt">December 31, 2022</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify; width: 9%"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; width: 31%"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 10% or more</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; width: 19%"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border: Black 1pt solid; vertical-align: top; text-align: center; width: 19%"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is more than 0.0% but less than 10%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 0.0%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2023</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 30% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is more than 15% but less than 30%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 15% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2024</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 75% or more</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is more than 45% but less than 75%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 45% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2025</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 100% </FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is more than 75% but less than 100%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 75% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">December 31, 2026</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">I</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 100% </FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">-1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
-0.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">II</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is more than 75% but less than 100%</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No change</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
No change</FONT></TD></TR>
  <TR>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">III</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Percentage of WELL Certified Properties is 75% or less</FONT></TD>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><BR>
0.2</FONT></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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;AUD Screen Rate&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Australian Bank Bill Swap Reference Rate (Bid) administered by ASX Benchmarks Pty Limited (or any
other person which takes over the administration of that rate) for the relevant period displayed on page BBSY of the Thomson Reuters screen
(or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which
publishes that rate from time to time in place of Thomson Reuters. If such page or service ceases to be available, the Australian Agent,
in its reasonable discretion, may specify another page or service displaying the relevant rate after consultation with the Australian
Borrower; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: right"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">if the rate described in sub-paragraph (a) above is not available, the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Australian Bank Bill Swap Reference Rate administered by ASX Benchmarks Pty Limited (or any other
person which takes over the administration of that rate) for the relevant period displayed on page BBSW of the Thomson Reuters screen
(or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which
publishes that rate from time to time in place of Thomson Reuters. If such page or service ceases to be available, the Australian Agent,
in its reasonable discretion, may specify another page or service displaying the relevant rate after consultation with the Australian
Borrower; and</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" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; 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">(ii)</TD><TD STYLE="text-align: justify">0.05% per annum,</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">for the purposes of determining the
rate as at a time, any subsequent correction, recalculation or republication by the administrator after that time shall be included. If
the AUD Screen Rate shall be less than zero, the AUD Screen Rate shall be deemed to be zero for the purposes of this Agreement.</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"><B>&#8220;Australian Agent&#8221;</B> means HSBC
Bank Australia Limited, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity as administration
agent for the Australian Lenders.</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"><B>&#8220;Australian Assignee</B>&#8221; has the
meaning ascribed thereto in Section 14.3(a).</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"><B>&#8220;Australian Bank Bill Rate&#8221; </B>means
with respect to each Australian Bank Bill Rate Interest Period for an Australian Bank Bill Rate Loan, the AUD Screen Rate displayed at
or about 11:00 a.m. (Sydney, Australia time) on the first day of that Australian Bank Bill Rate Interest Period for a term equivalent
to such Australian Bank Bill Rate Interest Period.</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">&#8220;<B>Australian Bank Bill Rate Determination
Date</B>&#8221; &#8220;means any date on which the Administration Agent, as the case may be, determines the Australian Bank Bill Rate
for an Australian Bank Bill Rate Interest Period.</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"><B>&#8220;Australian Bank Bill Rate Interest Period&#8221;</B>
means with respect to any Borrowing by way of an Australian Bank Bill Rate Loan, the period of one (1), two (2), three (3) or six (6)
months (as selected by the Australian Borrower and notified to the Australian Agent pursuant to Section 4.6 and subject to availability)
commencing with the applicable Drawdown Date.</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"><B>&#8220;Australian Bank Bill Rate Loan&#8221;
</B>means a loan, that bears interest based on the Australian Bank Bill Rate, made available by the Australian Lenders to the Australian
Borrower outstanding from time to time and denominated in Australian Dollars and in which interest is to be paid in accordance with Section
4.1.</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"><B>&#8220;Australian Bank Bill Rate Margin&#8221;</B>
means in respect of an Australian Bank Bill Rate Loan or portion thereof outstanding on or after the Effective Date, the Australian Bank
Bill Rate Margin as set forth in the definition of Applicable Margin.</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"><B>&#8220;Australian Base Rate&#8221;</B> means,
for any particular day, the variable rate of interest per annum, calculated on the basis of a year of three hundred and sixty-five 365
or 366 days as the case may be, equal to the greater of (a) the rate of interest per annum established and reported by HSBC Bank Australia
Limited for such day as the variable rate of interest per annum for the determination of interest rates that HSBC Bank Australia Limited
charges to its customers of varying degrees of creditworthiness for Australian Dollar loans made by it in Australia and which it refers
to as its &#8220;base rate&#8221; and (b) the rate of interest per annum equal to the average one (1) month&#8217;s Australian Bank Bill
Rate on that day plus one percent (1%) per annum.</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"><B>&#8220;Australian Base Rate Loans&#8221;</B>
means the loans, or portion of them, that bear interest based on the Australian Base Rate, made available by the Australian Lenders to
the Australian Borrower outstanding from time to time which are drawn in Australian Dollars and in respect of which interest is payable
in accordance with Section&nbsp;4.5.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Australian Base Rate Margin&#8221;</B>
means in respect of an Australian Base Rate Loan, or a portion thereof outstanding on or after the Effective Date, the Australian Base
Rate Margin set forth in the definition of Applicable Margin.</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"><B>&#8220;Australian Borrower&#8221;</B> has the
meaning ascribed thereto in the recitals.</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"><B>&#8220;Australian Dollars&#8221;</B> or <B>&#8220;A$&#8221;</B>
means the lawful currency (expressed in dollars) of Australia.</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"><B>&#8220;Australian Facilities&#8221;</B> means
the Australian Revolving Facility and the Australian Swingline Facility.</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"><B>&#8220;Australian Guarantor&#8221;</B> means
any Guarantor which is incorporated under the laws of Australia.</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"><B>&#8220;Australian Lenders&#8221;</B> means
the Lenders identified as Australian Lenders on the execution pages hereof having a Commitment to lend or when such Commitment shall have
terminated, having Borrowings outstanding to the Australian Borrower under the Australian Facilities. Australian Lenders includes any
Person who becomes an Australian Lender hereunder pursuant to Section 2.13.</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"><B>&#8220;Australian Revolving Facility&#8221;</B>
means the Commitments of the Australian Lenders to make Advances to the Australian Borrower in accordance with Section 2.2(i) and such
Advances so made.</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"><B>&#8220;Australian Revolving Facility Commitment&#8221;
</B>means the Commitments of the Australian Lenders to make Advances to the Australian Borrower of up to U.S.$50,000,000 as the same may
be increased as the result of the Incremental Facility or decreased as a result of an increase in the Australian Swingline Commitment;
provided that the aggregate outstanding Borrowings under the Australian Facilities shall not exceed the Total Australian Commitments at
any time.</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"><B>&#8220;Australian Swingline Commitment&#8221;</B>
means the Commitment of the Australian Swingline Lender to make Advances to the Australian Borrower of up to U.S.$0 (as the same may be
increased in accordance with Section 2.2(j)) which Commitment constitutes a sub&#45;commitment of the Total Australian Commitments of
U.S.$20,000,000; provided that the aggregate outstanding Borrowings under the Australian Facilities shall not exceed the Total Australian
Commitments at any time.</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"><B>&#8220;Australian Swingline Facility&#8221;</B>
means the Commitment of the Australian Swingline Lender to make Advances to the Australian Borrower in accordance with Section 2.2(j)
and such Advances so made.</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"><B>&#8220;Australian Swingline Lender&#8221;</B>
means HSBC Bank Australia Limited and its successors and assigns.</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"><B>&#8220;Australian Tax Act&#8221;</B> means
<I>Taxation Administration Act 1953</I> (Cth) of Australia.</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"><B>&#8220;Authorized Signatory&#8221;</B> in relation
to a Borrower and any communication to be made or document to be executed or certified by it, means at any time a Person who is at such
time duly appointed as such by such Borrower in a manner acceptable to the Administration Agent, the Canadian Agent, the U.S. Agent, the
European Agent, the Australian Agent or the Sustainability Structuring Agent, as the case may be, acting reasonably.</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"><B>&#8220;Available Proceeds</B>&#8221; has the
meaning ascribed thereto in Section 2.7(b)(iv).</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"><B>&#8220;Available Tenor&#8221; </B>means, as
of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if the then-current Benchmark is a term
rate, any tenor for such Benchmark that is or may be used for determining the length of a SOFR Interest Period, SONIA Interest Period
or Euribor Interest Period, or (b) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable,
pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then removed
from the definition of &#8220;Interest Period&#8221; pursuant to clause (d) of Section 7.1.</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"><B>&#8220;B/A Maturity Date&#8221;</B>, in respect
of a Bankers&#8217; Acceptance, means the date on which such Bankers&#8217; Acceptance matures or a BA Equivalent Loan expires, as applicable.</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"><B>&#8220;BA Discount Rate</B>&#8221; means, in
relation to any Bankers&#8217; Acceptance, the average rate (calculated on the basis of 365 days and rounded upwards to the nearest one
hundredth of one percent (0.01%), if such average is not a multiple) for Canadian Dollar bankers&#8217; acceptances having a comparable
term that appears on the Refinitiv CDOR Page (or such other page as is a replacement page for such bankers&#8217; acceptances) at 10:15
a.m. (Toronto, Ontario time) for bankers&#8217; acceptances to be accepted by Schedule I Canadian Banks (the &#8220;<B>CDOR Rate</B>&#8221;)
and in the case of Bankers Acceptances to be accepted by Canadian Lenders which are Schedule II or Schedule III Canadian Banks the lesser
of (a) the bid rate quoted by such Lender for its own bankers&#8217; acceptances of a like term with effect as at or about 10:15 a.m.
on the applicable Drawdown Date or Conversion Date; and (b) the CDOR Rate plus ten (10) basis points. If the CDOR Rate is not available
at such time, the rate otherwise determined by the Canadian Agent at or about 10:15 a.m. on the date of acceptance of such Bankers&#8217;
Acceptance as the discount rate (rounded upwards to the nearest one-one hundredth of one percent (0.01%)) based on a year of 365 days
applicable to bankers&#8217; acceptances with terms equivalent to the term of such Bankers&#8217; Acceptances. If the CDOR Rate or the
alternative rate determined above, as applicable, is below zero, the BA Discount Rate will be deemed to be zero.</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"><B>&#8220;BA Equivalent Loan&#8221;</B> has the
meaning ascribed thereto in Section 2.6(h).</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">&#8220;<B>Bail-In Action</B>&#8221; means the
exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial
Institution.</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">&#8220;<B>Bail-In Legislation</B>&#8221; means
(a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council
of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and
any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment
firms or other financial institutions or their respective Affiliates (other than through liquidation, administration or other insolvency
proceedings).</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"><B>&#8220;Bankers&#8217; Acceptance</B>&#8221;
means (a) a bill of exchange or a depository note, duly completed and accepted by a Canadian Lender under the Canadian Revolving Facility
pursuant to this Agreement (&#8220;<B>B/As</B>&#8221;), or (b) a BA Equivalent Loan made in lieu of such acceptance and purchase.</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"><B>&#8220;Banking Services&#8221; </B>means each
and any of the following bank services provided to any Borrower or any Subsidiary of the Canadian Borrower by any Lender (or any of its
Affiliates): credit card services and cash management services (including, without limitation, controlled disbursement, automated clearinghouse
transactions, return items, overdrafts and interstate depository network services) and the Sweep to Loan Facility; for greater certainty,
Banking Services does not include loans, lines of credit, letters of credit or any hedging/swap products.</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">&#8220;<B>Baseline GHG Emission Intensity</B>&#8221;
means the GHG Emission Intensity for the Fiscal Year ended December 31, 2021 of 6.75 Kg CO2e/square feet, to be confirmed by the Canadian
Borrower in the 2021 Baseline Report and verified by the applicable Sustainability Auditor on a limited assurance basis (which report
the Canadian Borrower shall deliver in in accordance with Section 8.2(h)(iv).</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">&#8220;<B>Baseline Percentage of Women in Management
Roles</B>&#8221; means, initially, 36% for the Fiscal Year ended December 31, 2021, to be confirmed by the Canadian Borrower in the 2021
Baseline Report and verified by the applicable Sustainability Auditor on a limited assurance basis (which report the Canadian Borrower
shall deliver in accordance with Section 8.2(h)(iv).</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">&#8220;<B>Baseline Sustainability Levels</B>&#8221;
means, collectively, Baseline GHG Emission Intensity and Baseline Percentage of Women in Management Roles, as set out in Schedule &#8220;M&#8221;
as same may be amended in accordance with the provisions of Section 4.14.</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">&#8220;<B>Benchmark</B>&#8221; means, initially,
Adjusted Term SOFR, Adjusted Daily Simple SOFR, SONIA or Euribor; provided that if a Benchmark Transition Event has occurred with respect
to Adjusted Term SOFR, Adjusted Daily Simple SOFR, SONIA or Euribor, as applicable, or the then-current Benchmark, then &#8220;Benchmark&#8221;
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior Benchmark rate pursuant
to Section 7.1(a).</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">&#8220;<B>Benchmark Replacement</B>&#8221; shall
mean, for any Available Tenor, the sum of: (a) the alternate benchmark rate that has been selected by the Agent and the Canadian Borrower
as the replacement for the then-current Benchmark for the applicable Available Tenor giving due consideration to (i) any selection or
recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body and (ii)
any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for
syndicated credit facilities denominated in the applicable Agreed Currency at such time, and (b) the related Benchmark Replacement Adjustment.
If the Benchmark Replacement as determined pursuant to the above would be less than the Floor, the Benchmark Replacement will be deemed
to be the Floor for the purposes of this Agreement and the other Loan Documents.</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">&#8220;<B>Benchmark Replacement Adjustment</B>&#8221;
means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment,
or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected
by the Agent and the Canadian Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method
for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark
Replacement by the Relevant Governmental Body and (b) any evolving or then-prevailing market convention for determining a spread adjustment,
or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted
Benchmark Replacement for syndicated credit facilities denominated in the applicable Agreed Currency.</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">&#8220;<B>Benchmark Replacement Date</B>&#8221;
means, with respect to any Benchmark, the earliest to occur of the following events with respect to the then-current Benchmark:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in the case of clause (a) or (b) of the definition of &#8220;Benchmark Transition Event,&#8221; the later
of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator
of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available
Tenors of such Benchmark (or such component thereof); or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in the case of clause (c) of the definition of &#8220;Benchmark Transition Event,&#8221; the first date
on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory
supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; provided, that such non-representativeness
will be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor
of such Benchmark (or such component thereof) continues to be provided on such date.</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">For the avoidance of doubt, the &#8220;Benchmark
Replacement Date&#8221; will be deemed to have occurred in the case of clause (a) or (b) of this definition with respect to any Benchmark
upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark
(or the published component used in the calculation thereof).</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">&#8220;<B>Benchmark Transition Event</B>&#8221;
means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such then-current Benchmark:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a public statement or publication of information by or on behalf of the administrator of such Benchmark
(or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all
Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement
or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component
thereof);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a public statement or publication of information by the regulatory supervisor for the administrator of
such Benchmark (or the published component used in the calculation thereof), the Board of Governors of the Federal Reserve System, the
Federal Reserve Bank of New York, the Term SOFR Administrator, the SONIA Administrator, an insolvency official with jurisdiction over
the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark
(or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark
(or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease
to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time
of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark
(or such component thereof); or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">a public statement or publication of information by the regulatory supervisor for the administrator of
such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or
such component thereof) are no longer, or as of a specified future date will no longer be, representative.</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">For the avoidance of doubt, a &#8220;Benchmark
Transition Event&#8221; will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information
set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the
calculation thereof).</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">&#8220;<B>Benchmark Unavailability Period</B>&#8221;
means, with respect to any Benchmark, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if,
at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document
in accordance with Section 7.1, and (b) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark for all
purposes hereunder and under any Loan Document in accordance with Section 7.1.</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"><B>&#8220;Borrowers&#8221;</B> means the Canadian
Borrower, CMN, the U.S. Borrower, the UK Borrower, Colliers EMEA, the Australian Borrower and the Dutch Borrower, and &#8220;<B>Borrower</B>&#8221;
means either or any of the Canadian Borrower, CMN, the U.S. Borrower, the UK Borrower, Colliers EMEA, the Australian Borrower or the Dutch
Borrower.</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"><B>&#8220;Borrowers&#8217; and Guarantors&#8217;
Australian Counsel&#8221;</B> means Norton Rose Fulbright Australia or any other firm of solicitors selected by the Borrowers and acceptable
to the Australian Agent, acting reasonably.</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"><B>&#8220;Borrowers&#8217; and Guarantors&#8217;
Canadian Counsel&#8221;</B> means Torys LLP or any other firm of solicitors selected by the Borrowers and acceptable to the Canadian Agent,
acting reasonably.</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"><B>&#8220;Borrowers&#8217; and Guarantors&#8217;
U.S. Counsel</B>&#8221; means Torys LLP, Fox Rothschild LLP or Ferrante &amp; Associates or any one or more firms of attorneys selected
by the Borrowers and acceptable to the U.S. Agent, acting reasonably.</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"><B>&#8220;Borrowing&#8221;</B> means a utilization
of a Facility by way of Loans, by the issue of Bankers&#8217; Acceptances or by the issue of Letters of Credit.</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"><B>&#8220;Business Day&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in respect of Borrowings available to a Borrower by way of SOFR Loans or SONIA Loans and payments in connection
therewith, any day other than Saturday or Sunday or a legal holiday on which commercial banks are authorized or required by law to be
closed for business in New York City, Toronto and Sydney (re: U.S. Dollars) and London, England (re: Sterling); provided, that, when used
in connection with a SOFR Loan, or any other calculation or determination involving SOFR, the term &#8220;Business Day&#8221; means any
day that is a U.S. Government Securities Business Day other than Saturday or Sunday or a legal holiday on which commercial banks are authorized
or required by law to be closed for business in Toronto;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in respect of Borrowings available to a Borrower by way of U.S. Prime Rate Loans or Letters of Credit
denominated in U.S.$, a day (other than Saturday or Sunday) on which banks are generally open for business in New York City and Toronto;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">in respect of Borrowings available to a Borrower by way of Letters of Credit denominated in Sterling or
Euros, a day (other than Saturday or Sunday) on which banks are generally open for business in London, England and the principal financial
center for the applicable country;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">in respect of Borrowings available to a Borrower by way of Australian Base Rate Loans, Australian Bank
Bill Rate Loans or Letters of Credit denominated in Australian Dollars, a day (other than Saturday or Sunday) on which banks are generally
open for business in Sydney, Australia;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">in respect of any Loan denominated in Euros, any day that is a TARGET Day; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">and for all other purposes of this Agreement, a day (other than Saturday or Sunday) on which banks are
generally open for business in Toronto.</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"><B>&#8220;Canadian Agent&#8221;</B> means Bank
of Montreal, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity as Canadian administration
agent for the Lenders hereunder.</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"><B>&#8220;Canadian Assignee</B>&#8221; has the
meaning ascribed thereto in Section 14.3(a).</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"><B>&#8220;Canadian Borrower&#8221;</B> has the
meaning ascribed thereto in the recitals.</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"><B>&#8220;Canadian Defined Benefit Pension Plan&#8221;</B>
shall mean 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 <I>Income Tax Act</I> (Canada).</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"><B>&#8220;Canadian Dollars</B>&#8221; means the
lawful money of Canada and <B>&#8220;Cdn.$&#8221;</B> has a corresponding meaning.</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"><B>&#8220;Canadian Facilities&#8221;</B> means
the Canadian Revolving Facility and the Canadian Swingline Facility.</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"><B>&#8220;Canadian Lenders&#8221;</B> means the
Lenders identified as Canadian Lenders on the execution pages hereof having a Commitment to lend or when such Commitment shall have terminated,
having Borrowings outstanding to the Canadian Borrower or CMN under the Canadian Facilities. Canadian Lenders includes any Person who
becomes a Canadian Lender hereunder pursuant to Section&nbsp;2.13.</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"><B>&#8220;Canadian Prime Rate&#8221;</B> means,
for any particular day, the variable rate of interest per annum, calculated on the basis of a year of three hundred and sixty-five 365
or 366 days as the case may be, equal to the greater of (a) the rate of interest per annum established and reported by the Canadian Agent
to the Bank of Canada for such day as the variable rate of interest per annum for the determination of interest rates that the Canadian
Agent charges to its customers of varying degrees of creditworthiness for Canadian Dollar loans made by it in Canada and which it refers
to as its &#8220;Prime Rate&#8221; and (b) the rate of interest per annum equal to the average one (1) month&#8217;s Banker&#8217;s Acceptance
rates expressed as annual yield rates as quoted on Reuter Service CDOR Page determined as of 10:15 am Toronto Time on that day plus one
percent (1%) per annum.</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"><B>&#8220;Canadian Prime Rate Loans&#8221;</B>
means the Loans, or portion of them, that bear interest based on the Canadian Prime Rate, made available by the Canadian Lenders to the
Canadian Borrower or CMN outstanding from time to time which are drawn down in Canadian Dollars and in respect of which interest is payable
in accordance with Section 4.3.</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"><B>&#8220;Canadian Prime Rate Margin&#8221;</B>
means in respect of a Canadian Prime Rate Loan, or portion thereof outstanding on or after the Effective Date, the Canadian Prime Rate
Margin set forth in the definition of Applicable Margin.</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"><B>&#8220;Canadian Revolving Facility&#8221;</B>
means the Commitments of the Canadian Lenders to make Advances to the Canadian Borrower and CMN in accordance with Section 2.2(a) and
such Advances so made.</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"><B>&#8220;Canadian Revolving Facility Commitment&#8221;</B>
means the Commitments of the Canadian Lenders to make Advances to the Canadian Borrower and CMN of up to U.S.$640,000,000 as same may
be increased as the result of the Incremental Facility; provided that the aggregate outstanding Borrowings under the Canadian Facilities
shall not exceed the Total Canadian Commitments at any time.</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"><B>&#8220;Canadian Swingline A Commitment&#8221;</B>
means the Commitment of the Canadian Swingline A Lender to make Advances to the Canadian Borrower of up to U.S.$20,000,000.00 which Commitment
constitutes a sub-commitment of the Total Canadian Commitments of The Toronto-Dominion Bank; provided that the aggregate outstanding Borrowings
under the Canadian Facilities shall not exceed the Total Canadian Commitments at any time.</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"><B>&#8220;Canadian Swingline B Commitment&#8221;</B>
means the Commitment of the Canadian Swingline B Lender to make Advances to the Canadian Borrower of up to U.S.$15,000,000.00 which Commitment
constitutes a sub-commitment of the Total Canadian Commitments of Bank of Montreal; provided that the aggregate outstanding Borrowings
under the Canadian Facilities shall not exceed the Total Canadian Commitments at any time.</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"><B>&#8220;Canadian Swingline Commitment&#8221;</B>
means, collectively, the Canadian Swingline A Commitment and the Canadian Swingline B Commitment.</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"><B>&#8220;Canadian Swingline Facility&#8221;</B>
means the Commitment of the Canadian Swingline Lenders to make Advances to the Canadian Borrower in accordance with Section 2.2(b) and
such Advances so made.</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"><B>&#8220;Canadian Swingline A Lender&#8221;</B>
means The Toronto-Dominion Bank and its successors and assigns.</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"><B>&#8220;Canadian Swingline B Lender&#8221;</B>
means Bank of Montreal and its successors and assigns.</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"><B>&#8220;Canadian Swingline Lender&#8221;</B>
means, collectively, the Canadian Swingline A Lender and the Canadian Swingline B Lender.</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"><B>&#8220;Capital Expenditures&#8221;</B> means
capital expenditures of the Canadian Borrower and its Subsidiaries (other than in respect of acquisitions of Acquisition Entities), determined
in accordance with GAAP on a consolidated basis.</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"><B>&#8220;Cash Amount&#8221;</B> means that portion
of the consideration payable in cash in respect of any purchase of shares by the Canadian Borrower or a Subsidiary in the capital stock
of any Subsidiary pursuant to the exercise of any call option right in favour of the Canadian Borrower or Subsidiary, as the case may
be, under the terms of any Shareholders Agreement in respect of such Subsidiary.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&#8220;<B>CDOR Scheduled Unavailability
Date</B>&#8221; has the meaning attributed thereto in Section 4.13(a)(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">&#8220;<B>CDOR
Successor Rate</B>&#8221; has the meaning ascribed thereto in Section 4.13(a).</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"><B>&#8220;Change of Control Threshold&#8221; </B>means
(i) prior to the Dual Class Voting Elimination Date, 30% of the voting rights attached to all outstanding shares of the Canadian Borrower,
and (ii) thereafter, 50% of the voting rights attached to all outstanding shares of the Canadian Borrower.</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"><B>&#8220;Charges&#8221;</B> has the meaning ascribed
thereto in Section 16.8(d).</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"><B>&#8220;CMH&#8221; </B>means Colliers Mortgage
Holdings LLC.</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"><B>&#8220;Code&#8221;</B> means the Internal Revenue
Code (U.S.) of 1986, as amended or any successor statute.</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"><B>&#8220;Colliers EMEA&#8221;</B> has the meaning
ascribed thereto in the recitals.</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"><B>&#8220;Colliers EMEA Assignee</B>&#8221; has
the meaning ascribed thereto in Section 14.3(a).</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"><B>&#8220;Colliers EMEA Lenders&#8221;</B> means
the Lenders identified as Colliers EMEA Lenders on the execution pages hereof having a Commitment to lend or when such Commitment shall
have terminated, having Borrowings outstanding to Colliers EMEA and the Dutch Borrower under the Colliers EMEA Revolving Facility. Colliers
EMEA Lenders includes any Person who becomes a Colliers EMEA Lender hereunder pursuant to Section&nbsp;2.13.</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"><B>&#8220;Colliers EMEA Revolving Facility&#8221;</B>
means the Commitments of the Colliers EMEA Lenders to make Advances to Colliers EMEA and the Dutch Borrower in accordance with Section
2.2(g) and such Advances so made.</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"><B>&#8220;Colliers EMEA Revolving Facility Commitment&#8221;</B>
means the Commitments of the Colliers EMEA Lenders to make Advances to Colliers EMEA and the Dutch Borrower of up to U.S.$200,000,000
as same may be increased as the result of the Incremental Facility; provided that the aggregate outstanding Borrowings under the Colliers
EMEA Revolving Facility shall not exceed the Total Colliers EMEA Commitments at any time.</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"><B>&#8220;Commitment&#8221;</B> means, except
as otherwise provided herein, the amount set opposite each Lender&#8217;s name on Schedules &#8220;H-1&#8221;, &#8220;H-2&#8221;, &#8220;H-3&#8221;,
&#8220;H-4&#8221;, &#8220;H-5&#8221; and &#8220;H-6&#8221; hereof as its Commitment to each of the Facilities.</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">&#8220;<B>Conforming Changes</B>&#8221; means,
with respect to either the use or administration of Term SOFR, Daily Simple SOFR, SONIA or Euribor or the use, administration, adoption
or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition
of &#8220;U.S. Base Rate,&#8221; the definition of &#8220;Business Day,&#8221; the definition of &#8220;U.S. Government Securities Business
Day,&#8221; the definition of &#8220;SOFR Interest Period&#8221;, the definition of &#8220;SONIA Interest Period&#8221;, the definition
of &#8220;Euribor Interest Period&#8221; or any similar or analogous definition (or the addition of a concept of &#8220;interest period&#8221;),
timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation
notices, the applicability and length of lookback periods, the applicability of Section 7.1 and other technical, administrative or operational
matters) that the Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and
administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption
of any portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration
of any such rate exists, in such other manner of administration as the Agent decides is necessary in connection with the administration
of this Agreement and the other Loan Documents).</P>

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

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Consolidated&#8221; </B>means, when
used to modify a financial term, test, statement, or report of a Person, the application or preparation of such term, test, statement
or report (as applicable) based upon the consolidation, in accordance with GAAP, of the financial condition or operating results of such
Person and its Subsidiaries.</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"><B>&#8220;Consolidated EBITDA&#8221;</B> means
for any period on a Consolidated basis for the Canadian Borrower and its Subsidiaries, Consolidated Earnings, increased by the sum of:
(a) Consolidated Interest Charges; (b) Consolidated Income Tax Expense; (c) Consolidated Depreciation and Amortization Expense; (d) the
non-controlling interest share of Earnings as stated on the consolidated financial statements of the Canadian Borrower; (e) the non-controlling
interest redemption increment; (f) Acquisition Expenses and Restructuring Expenses not exceeding the aggregate amount, on a Consolidated
basis for the Canadian Borrower and its Subsidiaries, of 10% of Consolidated EBITDA prior to giving effect to such increase; and (g)&nbsp;non&#45;cash
charges of equity compensations, in each case for such period, provided that the calculation of Consolidated EBITDA shall exclude (without
duplication) Unrestricted Entities.</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"><B>&#8220;Consolidated Total Assets&#8221;</B>
means, for any period, the consolidated total assets of the Canadian Borrower and its Subsidiaries for such period, excluding Unrestricted
Entities but otherwise determined in accordance with GAAP, as set forth on the Consolidated balance sheet of the Canadian Borrower for
such period.</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"><B>&#8220;Continuing Guarantees&#8221;</B> means
a guarantee of the obligations hereunder from each Borrower and each Guarantor, which may be satisfied by such Borrower and Guarantor,
as applicable, executing one or more, on the date hereof, guarantee agreements (governed by the Applicable Law of a Reliable Jurisdiction)
(in form, substance and under Applicable Law satisfactory to the Administration Agent) or executing (with regards to future Borrowers
and Guarantors) a new such guarantee agreement or an adhesion agreement, substantially in the form attached to such guarantee agreement.</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"><B>&#8220;Contribution Notice&#8221;</B> means
a contribution notice issued by the Pensions Regulator in the UK under section 38 or section 47 of the <I>Pensions Act</I> 2004.</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"><B>&#8220;Conversion&#8221;</B> means the conversion
of a Borrowing or any portion thereof in accordance with Section&nbsp;2.3.</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"><B>&#8220;Conversion Date&#8221;</B> means the
date a Borrower has notified the applicable agent, as the case may be, to be the date on which it has elected to convert a Borrowing or
a portion thereof pursuant to Section 2.3.</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">&#8220;<B>Convertible Debentures</B>&#8221; means
any unsecured subordinated convertible debentures or notes issued by the Canadian Borrower from time to time which include the following
characteristics: (i) such debentures or notes are unsecured; (ii) there are no scheduled principal payments under such debentures or notes
prior to the maturity thereof; (iii) all amounts of principal and interest under such debentures or notes are subordinate and junior to
the Obligations in right of payment; (iv) the maturity of such debentures or notes must be at least six (6) months after the Final Maturity
Date at the time of issuance of such debentures or notes; (v) all payments of principal under such debentures or notes can be satisfied
at the Canadian Borrower&#8217;s option by way of issuance of subordinate voting shares of the Canadian Borrower.</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">&#8220;<B>Corporations Act</B>&#8221; means the
<I>Corporations Act 2001</I> (Cth) of Australia.</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"><B>&#8220;CTA&#8221;</B> means the <I>Corporation
Tax Act</I> 2009.</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">&#8220;<B>Daily Simple SOFR</B>&#8221; means,
for any day (a &#8220;<B>SOFR Rate Day</B>&#8221;), a rate per annum equal to SOFR for the day (such day &#8220;<B>SOFR Determination
Date</B>&#8221;) that is five (5) U.S. Government Securities Business Days prior to (a) if such SOFR Rate Day is a U.S. Government Securities
Business Day, such SOFR Rate Day or (b) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities
Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator&#8217;s
Website. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change
in SOFR without notice to the Borrower.</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">&#8220;<B>Daily Simple SOFR Adjustment</B>&#8221;
means, with respect to Daily Simple SOFR, .10% (10 basis points).</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"><B>&#8220;Default&#8221;</B> means an event with
which notice or lapse of time or both will become an Event of Default.</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"><B>&#8220;Defaulting Lender&#8221;</B> any Lender
that, as reasonably determined by the Administration Agent, (a) has failed to perform any funding obligations hereunder, and such failure
is not cured within three (3) Business Days, unless such Lender notifies the Administration Agent and the Canadian Borrower in writing
that such failure is the result of such Lender&#8217;s determination that one or more conditions precedent to funding (which conditions
precedent, together with the applicable Default, if any, shall be specifically identified in such writing) have not been satisfied; (b)
has notified the Administration Agent or any Borrower, in writing, that such Lender does not intend to comply with its funding obligations
hereunder or has made a public statement to the effect that it does not intend to comply with its funding obligations hereunder or generally
under other credit facilities (unless such notice or public statement relates to such Lender&#8217;s obligation to fund a Loan hereunder
and states that such position is based on such Lender&#8217;s determination that a condition precedent to funding cannot be satisfied);
(c) has failed, within three (3) Business Days following written request by the Administration Agent, to confirm in a manner reasonably
satisfactory to the Administration Agent that such Lender will comply with its funding obligations hereunder (<I>provided</I> that such
Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt by the Agent of such confirmation); (d) has, or
has a direct or indirect parent company that has, become the subject of an insolvency proceeding or taken any action in furtherance thereof;
provided, however, that a Lender shall not be a Defaulting Lender solely by virtue of a Governmental Authority&#8217;s ownership of an
equity interest in such Lender or parent company, or (e) has become, or its parent entity, has become the subject of a Bail-In Action.</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"><B>&#8220;Depreciation and Amortization Expense&#8221;</B>
means, for any period, depreciation, amortization and depletion charged to the income statement of a Person for such Person, determined
in accordance with GAAP.</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"><B>&#8220;Discount Note&#8221; </B>means a non-interest
bearing promissory note denominated in Canadian Dollars issued by the Canadian Borrower or CMN to a Non BA Lender to evidence a BA Equivalent
Loan.</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"><B>&#8220;Disposition&#8221;</B> has the meaning
ascribed thereto in Section 8.3(a).</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"><B>&#8220;Drawdown&#8221;</B> means a drawdown
of a Borrowing by a Borrower.</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"><B>&#8220;Drawdown Date&#8221;</B> means any Business
Day when a Borrower makes a Drawdown or a Conversion Date with respect to any Borrowing or portion thereof.</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">&#8220;<B>Drawdown Notice</B>&#8221; means the
notice in the form attached as Schedule &#8220;E&#8221; hereto.</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">&#8220;<B>Dual Class Voting Elimination Date</B>&#8221;
means the date on which the Canadian Borrower ceases to have a dual class voting structure, which shall occur on a date no later than
September 1, 2028.</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">&#8220;<B>Dutch Borrower</B>&#8221; has the meaning
ascribed thereto in the recitals.</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"><B>&#8220;Earnings&#8221;</B> means, for any Person
for any period, Net Income for such Person, but excluding in each case for such Person for such period: (a) any gain or loss recorded
in income arising from the sale of capital assets, as determined in accordance with GAAP; (b) any gain or loss recorded in income arising
from any write-up or write-down of assets, as determined in accordance with GAAP; (c) any gain or loss recorded in income arising for
the acquisition of any securities of such Person, as determined in accordance with GAAP; or (d) any non-cash gain or loss recorded in
income from discontinued operations from and after the date of sale or discontinuance of such operations, as determined in accordance
with GAAP; or (e) any other non-cash gain or loss arising from items that do or do not have all the characteristics of extraordinary items
but which results from transactions or events that are not expected to occur frequently over several years or do not typify normal business
activities of such Person, as determined in accordance with GAAP, to the extent that any such gain or loss has been recorded in income
and has been disclosed separately in the income statement for such Person or the notes thereto.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;EBITDA&#8221;</B> means, for any Person
for any period, Earnings of such Person, increased by the sum of: (a) Interest Charges; (b) Income Tax Expense; (c) Depreciation and Amortization
Expenses; (d) the non-controlling interest share of Earnings as stated on any consolidated financial statements of any such Person; (e)
the non-controlling interest redemption increment; (f) Acquisition Expenses; (g) Restructuring Expenses and (h) non-cash charges of equity
compensations, in each case for such Person for such period.</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">&#8220;<B>EEA Financial Institution</B>&#8221;
means (a) any institution established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b)
any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c)
any institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition
and is subject to consolidated supervision with its parent.</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">&#8220;<B>EEA Member Country</B>&#8221; means
any of the member states of the European Union, Iceland, Liechtenstein, and Norway.</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">&#8220;<B>EEA Resolution Authority</B>&#8221;
means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including
any delegee) having responsibility for the resolution of any EEA Financial Institution.</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"><B>&#8220;Effective Date&#8221;</B> means May
27, 2022.</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">&#8220;<B>Eligible Business</B>&#8221; means any
business to be acquired by the Canadian Borrower or a Subsidiary of the Borrowers which is consistent with the nature of the overall business
focus of the Canadian Borrower 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;<B>EMEA</B>&#8221; means, collectively,
the geopolitical regions of Europe, the Middle East and Africa.</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"><B>&#8220;Environmental Laws&#8221;</B> means
all laws, statutes, codes, ordinances, orders, decrees, rules, regulations, guidelines, standards, judgements, or instruments, in each
case having the force of law, of any Governmental Authority having jurisdiction relating in whole or in part to the environment or its
protection.</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"><B>&#8220;Equivalent Amount&#8221;</B> means on
any date, with respect to any amount denominated in U.S. Dollars, such amount in U.S. Dollars, and with respect to any stated amount in
a currency other than U.S. Dollars, the amount of U.S. Dollars that the Administration Agent determines (which determination shall be
conclusive and binding absent manifest error) would be necessary to be sold on such date at the applicable Exchange Rate to obtain the
stated amount of the other currency.</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"><B>&#8220;ERISA&#8221;</B> has the meaning ascribed
thereto in Section 8.1(m).</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">&#8220;<B>Erroneous Payment</B>&#8221; has the
meaning ascribed thereto in Section 13.17(a).</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">&#8220;<B>Erroneous Payment Deficiency Assignment</B>&#8221;
has the meaning assigned to it in Section 13.17(d).</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">&#8220;<B>Erroneous Payment Impacted Class</B>&#8221;
has the meaning assigned to it in Section 13.17(d).</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">&#8220;<B>Erroneous Payment Return Deficiency</B>&#8221;
has the meaning assigned to it in Section 13.17(d).</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">&#8220;<B>Erroneous Payment Subrogation Rights</B>&#8221;
has the meaning assigned to it in Section 13.17(d).</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">&#8220;<B>EU Bail-In Legislation Schedule</B>&#8221;
means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to
time.</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">&#8220;<B>Euribor&#8221; </B>means with respect
to any Advance denominated in Euros and for any Interest Period, the Euribor Screen Rate at approximately 11:00 a.m., Brussels time, two
TARGET Days prior to the commencement of such Interest Period; provided that, if the Euribor Screen Rate shall not be available at such
time for such Interest Period (an &#8220;<B>Impacted Euribor Rate Interest Period</B>&#8221;) with respect to Euros then Euribor shall
be the Euribor Screen Rate for the next available period (for which the Euribor Screen Rate is available for Euros) that exceeds the Impacted
Euribor Rate Interest Period, and further provided that if Euribor is less than zero, it shall be deemed to be zero.</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">&#8220;<B>Euribor Determination
Date</B>&#8221; means any date on which the Administration Agent, as the case may be, determines Euribor for a Euribor Interest 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">&#8220;<B>Euribor Interest Period</B>&#8221;
means with respect to any Borrowing by way of a Euribor Loan, the period of one (1), two (2), three (3) or six (6) months (as selected
by the relevant Borrower and notified to the Administration Agent pursuant to Section 4.6 and subject to availability) commencing with
the applicable Drawdown Date.</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">&#8220;<B>Euribor Loan</B>&#8221;
means a Loan, that bears interest based on Euribor, made available by: (a) the U.S. Lenders to the U.S. Borrower, by the Canadian Lenders
to the Canadian Borrower or by the Australian Lenders to the Australian Borrower, as the case may be, outstanding from time to time and
denominated in Euros, and (b) the Colliers EMEA Lenders to Colliers EMEA outstanding from time to time and denominated in Euros and on
which interest is to be paid in accordance with Section 4.1.</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">&#8220;<B>Euribor Margin</B>&#8221;
means in respect of a Euribor Loan or portion thereof outstanding on or after the Effective Date, the Euribor Margin as set forth in the
definition of Applicable Margin.</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">&#8220;<B>Euribor Screen Rate</B>&#8221; means
the euro interbank offered rate administered by the European Money Markets Institute (or any other person which takes over the administration
of that rate) for the relevant period displayed (before any correction, recalculation or republication by the administrator) on page EURIBOR01
of the Refinitiv screen (or any replacement Refinitiv page which displays that rate) or on the appropriate page of such other information
service which publishes that rate from time to time in place of Refinitiv as of 11:00 a.m. Brussels time two TARGET Days prior to the
commencement of such Interest Period. If such page or service ceases to be available, the Administration Agent may specify another page
or service displaying the relevant rate after consultation with the Borrower. If the Euribor Screen Rate shall be less than zero, the
Euribor Screen Rate shall be deemed to be zero for purposes of this Agreement.</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"><B>&#8220;Euro</B>&#8221; or <B>&#8220;&#8364;&#8221;</B>
means the single currency of the Participating Member States which have adopted the euro unit as their single currency pursuant to the
Treaty of Rome of March 25, 1957, establishing the European Community.</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"><B>&#8220;European Agent&#8221;</B> means Bank
of Montreal, London Branch, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity of European
administration agent for the Lenders hereunder.</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"><B>&#8220;Event&#8221;</B> has the meaning ascribed
thereto in Section 7.5(b).</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"><B>&#8220;Event of Default&#8221;</B> has the
meaning ascribed thereto in Section 9.1.</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"><B>&#8220;Excess Proceeds&#8221;</B> has the meaning
ascribed thereto in Section 6.5.</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"><B>&#8220;Exchange Rate&#8221;</B> means the exchange
rate, as determined by Administration Agent, applicable to conversion of a currency into U.S. Dollars that is (a) reported by Bloomberg
(or other commercially available source designated by Administration Agent) as of the end of the preceding Business Day in the financial
market for such currency; or (b) if such report is unavailable for any reason, the spot rate for the purchase of such currency with U.S.
Dollars through Administration Agent&#8217;s principal foreign exchange trading office for the currency during such office&#8217;s preceding
Business Day.</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"><B>&#8220;Excluded Swap Obligation&#8221;</B>
means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor
of such Swap Obligation (or any guarantee thereof) is or becomes illegal or unlawful under the <I>Commodity Exchange Act </I>or any rule,
regulation or order of the Commodity Futures Trading Commission or the SEC (or the application or official interpretation of any thereof)
by virtue of such Guarantor&#8217;s failure for any reason to constitute an eligible contract participant at the time the guarantee of
such Guarantor becomes or would become effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement
governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for
which such guarantee is or becomes illegal.</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"><B>&#8220;Existing B/As&#8221;</B> means any B/A
issued under the Original Credit Agreement or the First Amended and Restated Credit Agreement with a B/A Maturity Date after the Effective
Date.</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"><B>&#8220;Existing Letters of Credit&#8221;</B>
means the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 20%; border: Black 1pt solid; text-align: justify"><B>Reference</B></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><B>Amount</B></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><B>Currency</B></TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><B>Issue Date</B></TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><B>Final Expiry Date</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">[REDACTED]</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Facilities&#8221;</B> means, collectively,
the Revolving Facilities and the Swingline Facilities.</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"><B>&#8220;FATCA&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">sections 1471 to 1474 of the Code or any associated regulations;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement
between the U.S. and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred to
in paragraph (a) above; or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraphs
(a) or (b) above with the U.S. Internal Revenue Service, the U.S. government or any governmental or taxation authority in any other jurisdiction.</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"><B>&#8220;FATCA Application Date&#8221; </B>means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in relation to a &#8220;withholdable payment&#8221; described in section 1473(1)(A)(i) of the Code (which
relates to payments of interest and certain other payments from sources within the U.S.), 1 July 2014;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in relation to a &#8220;withholdable payment&#8221; described in section 1473(1)(A)(ii) of the Code (which
relates to &#8220;gross proceeds&#8221; from the disposition of property of a type that can produce interest from sources within the U.S.),
1 January 2017; or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">in relation to a &#8220;passthru payment&#8221; described in section 1471(d)(7) of the Code not falling
within paragraphs (a) or (b) above, 1 January 2017,</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">or, in each case, such other date from which such
payment may become subject to a deduction or withholding required by FATCA as a result of any change in FATCA after the date of this Agreement.</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"><B>&#8220;FATCA Deduction&#8221;</B> means a deduction
or withholding from a payment under a Loan Document required by FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><B>&#8220;FATCA Exempt Party&#8221;</B> means
a Party that is entitled to receive payments free from any FATCA Deduction.</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"><B>&#8220;Federal Funds Rate&#8221;</B> means,
for any period, a fluctuating interest rate per annum equal for each day during such period to (a) the weighted average of the rates on
overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such
day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or (b) if such
rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received
by the applicable U.S. Base Rate Reference Bank from three federal funds brokers of recognized standing selected by it.</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"><B>&#8220;Final Maturity Date&#8221;</B> means
May 27, 2027.</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"><B>&#8220;Financial Contract Obligations&#8221;</B>
means all obligations, present and future, direct or indirect, contingent or absolute, of a Borrower and/or its Subsidiaries in respect
of, in each case determined on a &#8220;marked to market&#8221; basis on the date of determining the amount of such obligations,:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a currency or interest rate swap agreement;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a swap, future, forward or other foreign exchange agreement;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">a forward rate agreement;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">any derivative, combination or option in respect of, or agreement similar to, an agreement or contract
referred to in paragraphs (a) to (c);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">any master agreement in respect of any agreement or contract referred to in paragraphs (a) to (c);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">a guarantee of the liabilities under an agreement or contract referred to in paragraphs (a) to (c); or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">an equity hedge agreement.</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"><B>&#8220;Financial Support Direction&#8221;</B>
means a financial support direction issued by the Pensions Regulator under Section 43 of the <I>Pensions Act</I> 2004.</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">&#8220;<B>First Amended and Restated Credit Agreement</B>&#8221;
has the meaning ascribed thereto in the recitals.</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">&#8220;<B>First Amendment Credit Parties</B>&#8221;
has the meaning ascribed thereto in the recitals.</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"><B>&#8220;Fiscal Year&#8221;</B> means a fiscal
year of the Canadian Borrower; currently the Fiscal Year ends on December 31.</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">&#8220;<B>Floor</B>&#8221; means the benchmark
rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal
of this Agreement or otherwise) with respect to Adjusted Term SOFR, Adjusted Daily Simple SOFR, Adjusted SONIA or Euribor, as applicable.
For the avoidance of doubt, the Floor for Adjusted Term SOFR, Adjusted Daily Simple SOFR, Adjusted SONIA and Euribor shall be 0.00% per
annum.</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"><B>&#8220;Foreign Plan&#8221;</B> means any employee
benefit plan, program, policy, arrangement or agreement maintained or contributed to by a Borrower or any of its Subsidiaries with respect
to employees employed outside of the United States or Canada, other than any state social security arrangements.</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"><B>&#8220;GAAP</B>&#8221; means generally accepted
accounting principles applied in the United States.</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">&#8220;<B>GHG Emission Intensity</B>&#8221; means
the Absolute GHG Emissions divided by the square footage of properties occupied by the Canadian Borrower and its Subsidiaries in the operation
of their business expressed as KgCO2e / square feet in a Fiscal Year, as reported in the applicable Sustainability Report and verified
by the Sustainability Auditor on a limited assurance basis and certified by the Canadian Borrower in the applicable Sustainability Certificate.</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">&#8220;<B>GHG Protocol</B>&#8221; means the second
(2<SUP>nd</SUP>) revised edition of the GHG Protocol Corporate Accounting and Reporting Standard of the World Business Council for Sustainable
Development and World Resources Institute available at https://ghgprotocol.org/sites/default/files/standards/ghg-protocol-revised.pdf
or any updated version thereof, whichever is the most recent at the relevant time, or such other protocol for reporting standards applicable
to the communication of material environmental, social and governance information to shareholders and other investors, as the Canadian
Borrower and the Sustainability Structuring Agent may agree.</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"><B>&#8220;Governmental Authority&#8221;</B> means
any federal, state, provincial, municipal, foreign or other governmental department, agency, commission, board, bureau, court, tribunal,
instrumentality, political subdivision, authority, corporation or body, regulatory or self-regulatory organization or other entity or
officer exercising executive, legislative, judicial, statutory, regulatory or administrative functions for or pertaining to any government
or court (including any supranational bodies such as the European Union), in each case whether it is or is not associated with Australia,
Canada, the Netherlands, the United Kingdom, the United States or any state, province, district or territory thereof, or any other foreign
entity or government.</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"><B>&#8220;GST Act&#8221;</B> means the <I>A New
Tax System (Goods and Services Tax) Act 1999</I> (Cth) of Australia.</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"><B>&#8220;GST Group&#8221;</B> has the meaning
given to it in the GST Act.</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"><B>&#8220;Guarantors&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">all present and future:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Borrowers (of each other Borrower&#8217;s obligations);</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">parents (if any) of Borrowers;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Wholly-Owned Subsidiaries who are Material Subsidiaries in Reliable Jurisdictions;</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">Wholly-Owned Subsidiaries who are parent entities (in Reliable Jurisdictions) of each Material Subsidiary,
which is not an Unrestricted Entity, (whether or not such Material Subsidiary is Wholly-Owned Subsidiary); and</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Wholly-Owned Subsidiaries, each of which is the immediate top holding company in 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 two
percent (2%) of Consolidated EBITDA in any Fiscal Year; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Colliers International Holdings Limited and Colliers International EMEA Finco Plc; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any other Person who has provided a guarantee of Borrower&#8217;s obligations hereunder in favour of the
Agent or the Lenders, provided however, that notwithstanding any other provision to the contrary contained in this Agreement, including
for certainty paragraphs (a)(iii), (a)(iv) and (a)(v) above, neither CMH nor any of its Subsidiaries shall be required to become a Guarantor.</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Hazardous Material&#8221;</B> means
any substance, waste, solid, liquid, or gaseous matter, petroleum or petroleum derived substance, micro-organism, sound, vibration, ray,
heat, odour, radiation, energy vector, plasma, organic or inorganic matter, whether animate or inanimate, transient reaction intermediate
or any combination of the foregoing deemed hazardous, hazardous waste, solid waste, or pollutant, a deleterious substance, or a contaminant
under any Environmental Law.</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"><B>&#8220;Hedging Agreements&#8221;</B> means
one or more non&#45;speculative (i) interest rate, (ii) currency hedge, and/or (iii) equity hedge agreements entered into between any
Borrower or Guarantor and a Lender (or any of its Affiliates) from time to time.</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"><B>&#8220;Immaterial Subsidiary&#8221;</B> means
any Subsidiary that is not a Material Subsidiary or a Guarantor.</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"><B>&#8220;Income Tax Expense&#8221;</B> means,
for any period, the aggregate of all Taxes (including deferred Taxes) based on the income of a Person for such period, determined in accordance
with GAAP.</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">&#8220;<B>Incremental Facility</B>&#8221; has
the meaning ascribed thereto in Section 2.13.</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">&#8220;<B>Indemnified Party</B>&#8221; has the
meaning ascribed thereto in Section 11.1(d).</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">&#8220;<B>Insolvency Regulation</B>&#8221; means
Regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings (recast).</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"><B>&#8220;Interest Charges&#8221;</B> means for
any period, the total of all items properly classified as interest expense for a Person for such period, less the amount of any interest
income, both determined in accordance with GAAP, provided, however, that &#8220;Interest Charges&#8221; shall exclude any interest expense
in respect of the Warehouse Line (as permitted under Section 8.3(b)(xiii) of this Agreement) and any interest income from any mortgage
loan financed thereby.</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"><B>&#8220;Interest Coverage Ratio&#8221;</B> means,
in respect of any period, the quotient obtained by dividing (a) Consolidated EBITDA for such period by (b) the sum of Consolidated (for
the Canadian Borrower and its Subsidiaries, but excluding Unrestricted Entities) Interest Charges for such period.</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"><B>&#8220;Interest Payment Date&#8221;</B> means
(a) in respect of a Canadian Prime Rate Loan, a U.S. Prime Rate Loan, a U.S. Base Rate Loan or an Australian Base Rate Loan and Article&nbsp;12,
the fifth (5<SUP>th</SUP>) Business Day of each Quarter, (b) in respect of a SOFR Loan, the last day of the applicable SOFR Interest Period
and, where any SOFR Interest Period or the last Business Day of such SOFR Interest Period is longer than three (3) months, the last Business
Day of each successive three (3) month period during such SOFR Interest Period, (c) in respect of a SONIA Loan, the last day of the applicable
SONIA Interest Period and, where any SONIA Interest Period or the last Business Day of such SONIA Interest Period is longer than three
(3) months, the last Business Day of each successive three (3) month period during such SONIA Interest Period, (d) in respect of a Euribor
Loan, the last day of the applicable Euribor Interest Period and, where any Euribor Interest Period or the last Business Day of such Euribor
Interest Period is longer than three (3) months, the last Business Day of each successive three (3) month period during such Euribor Interest
Period, and (e) in respect of an Australian Bank Bill Rate Loan, the last day of the applicable Australian Bank Bill Rate Interest Period
and, where any Australian Bank Bill Rate Interest Period or the last Business Day of such Australian Bank Bill Rate Interest Period is
longer than three (3) months, the last Business Day of each successive three (3) month period during such Australian Bank Bill Rate Interest
Period.</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">&#8220;<B>Interest Period</B>&#8221; means a SOFR
Interest Period, SONIA Interest Period, Euribor Interest Period or Australian Bank Bill Rate Interest Period, as applicable.</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">&#8220;<B>ISDA Definitions</B>&#8221; means the
2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented
from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International
Swaps and Derivatives Association, Inc. or such successor thereto.</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"><B>&#8220;Issuing Bank&#8221;</B> means, in the
case of Letters of Credit issued under the Canadian Revolving Facility, a Canadian Lender which issues Letters of Credit hereunder, in
the case of Letters of Credit issued under the U.S. Revolving Facility, a U.S. Lender which issues Letters of Credit hereunder, in the
case of Letters of Credit issued under the UK Revolving Facility, a UK Lender which issues Letters of Credit hereunder and, in the case
of the Letters of Credit issued under the Colliers EMEA Revolving Facility, a Colliers EMEA Lender which issues Letters of Credit hereunder.
As of the Effective Date, (i) the Issuing Bank for Letters of Credit issued under the Canadian Revolving Facility is The Toronto-Dominion
Bank for Letters of Credit issued prior to the Effective Date (and any amendments to such Letters of Credit) and Bank of Montreal for
Letters of Credit issued on or after the Effective Date, (ii) the Issuing Bank for Letters of Credit issued under the Australian Revolving
Facility is HSBC Bank Australia Limited, and (iii) the Issuing Bank for Letters of Credit issued under the U.S. Revolving Facility is
(A) Bank of Montreal, Chicago Branch, (B) BMO Harris Bank, N.A., and (C) JPMorgan Chase Bank, N.A. (who shall issue Letters of Credit
up to a maximum of U.S.$10,000,000, unless such other amount is agreed to between U.S. Borrower and JPMorgan Chase Bank, N.A.).</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"><B>&#8220;ITSA&#8221;</B> means an agreement between
the members of a GST Group which takes effect as an indirect tax sharing agreement under section 444-90 of Schedule 1 of the Australian
Tax Act and complies with the Australian Tax Act and the GST Act as well as any Applicable Law, official directive, request, guideline
or policy (whether or not having the force of law) issued in connection with the Australian Tax Act.</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"><B>&#8220;Lenders&#8221;</B> means the Canadian
Lenders, the U.S. Lenders, the UK Lenders, the Colliers EMEA Lenders and the Australian Lenders and their respective successors and assigns.
&#8220;<B>Lender</B>&#8221; means any Canadian Lender, U.S. Lender, UK Lender, Colliers EMEA Lender or Australian Lender, as the case
may be, and includes an Affiliate or branch of any such Lender that is acting on behalf of such Lender, in which case the term &#8220;Canadian
Lender&#8221;, &#8220;U.S. Lender&#8221;, &#8220;UK Lender&#8221;, &#8220;Colliers EMEA Lender&#8221; or &#8220;Australian Lender&#8221;
shall include any such Affiliate or branch with respect to the Loans made by such Affiliate or branch.</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"><B>&#8220;Lenders&#8217; Counsel&#8221;</B> means
Norton Rose Fulbright Canada LLP, Norton Rose Fulbright US LLP, Norton Rose Fulbright LLP and Norton Rose Fulbright Australia or any other
firm of solicitors selected by the Majority Lenders.</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"><B>&#8220;Lending Office&#8221;</B> means the
office designated as such by a Lender at the time it becomes party to this Agreement or thereafter by notice to Administration Agent and
the relevant Borrower.</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"><B>&#8220;Letter of Credit&#8221;</B> means a
Standby Letter of Credit or a Trade Letter of Credit issued by an Issuing Bank at the request of a Borrower in an amount not to exceed
the unused portion of the applicable Revolving Facility.</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"><B>&#8220;Letter of Credit Fee&#8221;</B> means
a quarterly fee payable in arrears on the fifth (5<SUP>th</SUP>) Business Day after each Quarter based on the Applicable Margin for Letter
of Credit Fees and equivalent to annual returns on each Lender&#8217;s Participation in the average daily balance of the face amount of
Letters of Credit outstanding on or after the Effective Date and as set forth in the definition of Applicable Margin. The Letter of Credit
Fee will be calculated for the number of days in the term of the applicable Letter of Credit and based on a year of 365/366 days.</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"><B>&#8220;Lien&#8221;</B> means with respect to
the property or assets of any Person, a mortgage, pledge (including, without limitation, disclosed, undisclosed, possessory or non&#45;possessory),
hypothecation, encumbrance, lien (statutory or other), trust (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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Loan Documents&#8221;</B> means this
Agreement; the Continuing Guarantees; each Discount Note; each Letter of Credit; each Bankers&#8217; Acceptance; each promissory note
in favour of a Lender; compliance certificate; each Hedging Agreement; subordination agreement; and each other document, instrument, certificate,
notice, report or agreement (other than this Agreement) now or hereafter delivered by or on behalf of a Borrower or Guarantor to an Agent,
an Issuing Bank or a Lender in connection with any transactions relating hereto (including, without limitation, under Banking Services).
Any reference in this Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or schedules thereto,
and all amendments, restatements, supplements or other modifications thereto, and shall refer to this Agreement or such Loan Document
as the same may be in effect at any and all times such reference becomes operative.</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: 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"><B>&#8220;Loans&#8221;</B> means collectively,
that portion of any Borrowing outstanding from time to time by way of SOFR Loans, SONIA Loans, Euribor Loans, Bankers&#8217; Acceptances,
Australian Bank Bill Rate Loans, Canadian Prime Rate Loans, U.S. Base Rate Loans, U.S. Prime Rate Loans, Australian Base Rate Loans or,
as the context may require, all Loans outstanding at any time. &#8220;<B>Loan</B>&#8221; means, at any time, any SOFR Loan, SONIA Loan,
Euribor Loan, Canadian Prime Rate Loan, Australian Bank Bill Rate Loan, U.S. Base Rate Loan, U.S. Prime Rate Loan or Australian Base Rate
Loan, as the case may be.</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"><B>&#8220;Majority Lenders&#8221;</B> means, at
any particular time, Lenders whose aggregate Commitments at such time are at least 51% of the Total Commitments at such time or, in the
case of a given Facility, only where the consent or other determination of the Lenders in such Facility is required, Lenders whose aggregate
Commitments in such Facility at such time are at least 51% of (a) the Canadian Revolving Facility Commitment, (b) the U.S. Revolving Facility
Commitment, (c) the UK Revolving Facility Commitment, (d) the Colliers EMEA Revolving Facility Commitment or (e) the Australian Revolving
Facility Commitment, as the case may be; provided, however, that in the event that the Commitments have been terminated, &#8220;Majority
Lenders&#8221; shall be based on Lenders whose aggregate Borrowings outstanding at such time are at least 51% of all outstanding Borrowings;
provided, further, that for so long as any Lender shall be a Defaulting Lender, the term &#8220;Majority Lenders&#8221; shall mean Lenders
(excluding such Defaulting Lender) having Commitments representing at least 51% of the aggregate Commitments (excluding the Commitments
of each Defaulting Lender) at such time.</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">&#8220;<B>Management Role</B>&#8221; means, with
respect to employees of the Canadian Borrower or its Subsidiaries (i) located in offices in EMEA, any employee with a title of &#8220;Manager&#8221;
or a higher position or title, and (ii) located in all other regions other than EMEA, any employee with direct reports or senior leadership
role, consistent with the definitions and methodologies used in the 2021 Baseline Report.</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"><B>&#8220;Material Subsidiary</B>&#8221; means
any Subsidiary of the Borrowers that generates equal to or greater than two percent (2%) of Consolidated EBITDA in any Fiscal Year.</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"><B>&#8220;Maximum Rate&#8221;</B> has the meaning
ascribed thereto in Section 16.8(d).</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">&#8220;<B>Net Income</B>&#8221; means, for any
Person for any period, the Net Income (loss) after tax of such Person for such period, determined in accordance with GAAP.</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"><B>&#8220;Net Proceeds&#8221;</B> in respect of
any Bankers&#8217; Acceptance, means the amount obtained by applying the BA Discount Rate to the Principal Amount of such Bankers&#8217;
Acceptance.</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"><B>&#8220;Non BA Lender&#8221;</B> means a Canadian
Lender that cannot or does not as a matter of policy accept bankers&#8217; acceptances.</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"><B>&#8220;Normalizing Adjustments&#8221;</B> has
the meaning ascribed to it in the definition of &#8220;Total Debt/Consolidated EBITDA Ratio&#8221;.</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"><B>&#8220;Obligations&#8221;</B> means, collectively,
all indebtedness, liabilities, guarantees and other obligations of the Borrowers and the Guarantors to the Lenders, the Agents, the Issuing
Banks or any of them hereunder (including any amendments or supplements hereto) under Hedging Agreements, under Banking Services, under
any other Loan Document (including any amendments or supplements thereto) and under any other document (including any amendments or supplements
thereto) delivered pursuant to this Agreement, whether actual or contingent, direct or indirect, matured or not, now existing or arising
hereafter.</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"><B>&#8220;OECD&#8221; </B>means the Organisation
for Economic Cooperation and Development.</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"><B>&#8220;Original Borrowers&#8221;</B> has the
meaning ascribed thereto in the recitals.</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"><B>&#8220;Original Credit Agreement&#8221;</B>
has the meaning ascribed thereto in the recitals.</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"><B>&#8220;Original Credit Parties&#8221;</B> has
the meaning ascribed thereto in the recitals.</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"><B>&#8220;Original Currency&#8221;</B> has the
meaning ascribed thereto in Section 15.3(a).</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">&#8220;<B>Original Lenders</B>&#8221; has the
meaning ascribed thereto in the recitals.</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">&#8220;<B>Other Agreed Currency</B>&#8221; means
Canadian Dollars and Australian Dollars.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;Participating Member State&#8221;
<FONT STYLE="font-weight: normal">means any member state of the European Communities that adopts or has adopted the Euro as its lawful
currency in accordance with the legislation of the European Community relating to the Economic and Monetary Union.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">&#8220;</FONT>Participation<FONT STYLE="font-weight: normal">&#8221;
of a Lender means that Lender&#8217;s pro rata share of the Commitments as indicated on Schedules &#8220;H-1&#8221;, &#8220;H-2&#8221;,
&#8220;H-3&#8221;, &#8220;H-4&#8221;, &#8220;H-5&#8221; or &#8220;H-6&#8221;, as same may be adjusted as the result of the Incremental
Facility.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">&#8220;</FONT>Parties<FONT STYLE="font-weight: normal">&#8221;
means, together, the parties to this Agreement, and each individually, a &#8220;</FONT>Party<FONT STYLE="font-weight: normal">&#8221;</FONT>.</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"><B>&#8220;Patriot Act&#8221;</B> has the meaning
ascribed thereto in Section 16.9.</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">&#8220;<B>Payment Recipient</B>&#8221; has the
meaning assigned to it in Section 13.17(a).</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"><B>&#8220;Pensions Regulator</B>&#8221; means
the body corporate called the Pensions Regulator established under Part I of the <I>Pensions Act</I> 2004.</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">&#8220;<B>Percentage of WELL Certified Properties</B>&#8221;
means the total number of Sustainability Eligible Locations occupied by the Canadian Borrower and its Subsidiaries which have received
a WELL Health-Safety Rating, the criteria of such rating are available at https://www.wellcertified.com/health-safety, divided by the
total number of Sustainability Eligible Locations occupied by the Canadian Borrower and its Subsidiaries, calculated at the end of the
most recently completed Fiscal Year, as set out in the Sustainability Report and verified by the Sustainability Auditor on a limited assurance
basis.</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">&#8220;<B>Percentage of Women in Management Roles</B>&#8221;
means the total number of persons, excluding the engineering segment of the Canadian Borrower and its Subsidiaries, who are in Management
Roles and who self-identify as women, divided by the total number of persons, excluding engineering segment of the Canadian Borrower and
its Subsidiaries, who are in Management Roles, calculated at the end of the most recently completed Fiscal Year, as set out in the Sustainability
Report and verified by the Sustainability Auditor on a limited assurance basis.</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"><B>&#8220;Permitted Encumbrances&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Liens incurred and pledges and deposits made in connection with workers&#8217; compensation, employment
insurance, old age pensions and similar legislation (other than ERISA and Canadian pension legislation);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">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;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">statutory Liens of landlords, undetermined or inchoate Liens and other Liens imposed by law, such as carriers&#8217;,
warehousemens&#8217;, mechanics&#8217;, construction and materialmen&#8217;s Liens, incurred in good faith in the ordinary course of business
provided that the aggregate amount of any carriers&#8217;, warehousemens&#8217;, mechanics&#8217;, construction or materialmens&#8217;
Liens shall at no time exceed an aggregate amount of U.S.$3,000,000 or the Equivalent Amount thereof and the amount thereof shall be paid
when same shall become due;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Liens securing the payment of Taxes, assessments and governmental charges or levies, either (i) not delinquent
or (ii) being contested in good faith by appropriate proceedings;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">permits, right of way, zoning restrictions, easements, licenses, reservations, 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 a Borrower or any of its Subsidiaries or materially impair the operation of the business of a Borrower
or any of its Subsidiaries;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Liens arising out of the leasing of personal property by it or any of its Subsidiaries in the ordinary
course of business up to an amount not exceeding in the aggregate U.S.$30,000,000 for all Borrowers and their Subsidiaries or the Equivalent
Amount thereof;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">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 not greater than in the aggregate U.S.$50,000,000 or the Equivalent Amount
of any assets (other than current assets) acquired by a Borrower or any of its Subsidiaries provided that any such Liens are restricted
to the assets so acquired (&#8220;<B>Permitted VTBS</B>&#8221;);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">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;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">security given in the ordinary course of business by a Borrower, or any of its Subsidiaries to a public
utility or any municipality or governmental or public authority in connection with operations of a Borrower, or any of its Subsidiaries,
(other than in connection with borrowed money) securing not more than an aggregate amount equal to U.S.$3,000,000 for all Borrowers and
their Subsidiaries or the Equivalent Amount thereof;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">liens in respect of Permitted Loans;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">purchase money security interests placed upon fixed assets to secure a portion of the purchase price thereof
and liens securing capital leases; provided that any such lien shall not encumber any property of the Canadian Borrower and/or its Subsidiaries
except the purchased asset or asset subject to the capital lease, as applicable;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">the encumbrances described on Schedule &#8220;J&#8221;;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">liens in respect of Permitted Foreign Subsidiary Facilities, provided that such lien shall only be in
respect of the Subsidiary incurring such Permitted Foreign Subsidiary Facilities;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">liens on Receivables Facility Assets; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">liens on assets of CMH and any of its Subsidiaries which are used from time to time to secure the Warehouse
Line.</TD></TR></TABLE>
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Permitted Foreign Subsidiary Facilities&#8221;</B>
means debt of any Subsidiary domiciled outside of Canada and the United States under credit facilities entered into in the ordinary course
of business of such Subsidiary.</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"><B>&#8220;Permitted Loans&#8221;</B> has the meaning
ascribed thereto in Section 8.3(b)(iv).</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"><B>&#8220;Permitted Unsecured Loans&#8221; </B>has
the meaning ascribed to it in Section 8.3(b)(ix).</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"><B>&#8220;Permitted VTBS&#8221;</B> has the meaning
ascribed to it in the definition of Permitted Encumbrances.</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"><B>&#8220;Person&#8221;</B> means any individual,
firm, company, corporation, unlimited liability company, limited liability company, entity, joint venture, joint stock company, trust,
unincorporated organization, government or state entity or any association or a partnership (whether or not having separate legal personality)
of two or more of the foregoing.</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"><B>&#8220;Prepaid Bankers&#8217; Acceptances&#8221;</B>
has the meaning ascribed thereto in Section 7.5(c).</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"><B>&#8220;Principal Amount&#8221;</B> means (a)
for a Bankers&#8217; Acceptance or a Letter of Credit, the face amount thereof and (b) for a Loan, the principal amount thereof.</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"><B>&#8220;Process Agent&#8221;</B> has the meaning
ascribed thereto in Section 15.2.</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">&#8220;<B>QFC Credit Support</B>&#8221; has the
meaning ascribed to it in Section 16.16.</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"><B>&#8220;Qualified ECP Guarantor&#8221;</B> means,
in respect of any Swap Obligation, each Borrower or Guarantor that has total assets exceeding $10,000,000 at the time the relevant guarantee
or grant of the relevant security interest becomes or would become effective with respect to such Swap Obligation or such other person
as constitutes an &#8220;eligible contract participant&#8221; under the <I>Commodity Exchange Act</I> or any regulations promulgated thereunder
and can cause another person to qualify as an &#8220;eligible contract participant&#8221; at such time by entering into a keepwell under
Section 1a(18)(A)(v)(II) of the <I>Commodity Exchange Act</I>.</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"><B>&#8220;Quarter&#8221;</B> means a fiscal quarter
of any Fiscal Year.</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">&#8220;<B>Recalculation Event</B>&#8221; has the
meaning ascribed to it in Section 4.14(f).</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"><B>&#8220;Receivables&#8221;</B> means any amounts
owing to any Borrower or any Subsidiary thereof in connection with the provision of services (or the sale of goods) by such Borrower or
Subsidiary.</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"><B>&#8220;Receivables Entity&#8221;</B> means
a special-purpose wholly owned Subsidiary or other entity which is established for the purposes of and engages in no activities other
than the transactions contemplated by a Receivables Transaction and activities reasonably related thereto.</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"><B>&#8220;Receivables Facility Assets&#8221;</B>
means Receivables subject to any Receivables Transaction, collection accounts, lockboxes and other accounts where amounts may be collected
in respect of Receivables subject to any Receivables Transaction, amounts collected in respect of Receivables subject to any Receivables
Transaction, and other assets related to any such Receivables.</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"><B>&#8220;Receivables Transaction&#8221;</B> means
any transaction involving any Borrower and/or any Subsidiary thereof, and any Receivables Entity providing for sales, transfers, conveyances
and/or pledges of Receivables Facility Assets that does not provide for recourse against any Borrower or any Subsidiary thereof (other
than any Receivables Entity), other than representations, warranties, covenants and indemnities which are reasonably customary in structured
finance transactions.</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"><B>&#8220;Related Party&#8221;</B> means, with
respect to any Person, such Person&#8217;s Affiliates and the directors, officers, employees, agents and advisors of such Person and such
Person&#8217;s Affiliates.</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">&#8220;<B>Relevant Governmental Body</B>&#8221;
means (i) with respect to a Benchmark Replacement in respect of Loans denominated in U.S. Dollars, the Board of Governors of the Federal
Reserve System of the United States or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board
of Governors of the Federal Reserve System of the United States or the Federal Reserve Bank of New York, or any successor thereto, (ii)
with respect to a Benchmark Replacement in respect of Loans denominated in Sterling, the Bank of England, or a committee officially endorsed
or convened by the Bank of England or, in each case, any successor thereto, (iii) with respect to a Benchmark Replacement in respect of
Loans denominated in Euros, the European Central Bank, or a committee officially endorsed or convened by the European Central Bank or,
in each case, any successor thereto, and (iv) with respect to a Benchmark Replacement in respect of Loans denominated in any Other Agreed
Currency, (a) the central bank for the currency in which such Benchmark Replacement is denominated or any central bank or other supervisor
which is responsible for supervising either (1) such Benchmark Replacement or (2) the administrator of such Benchmark Replacement or (b)
any working group or committee officially endorsed or convened by (1) the central bank for the currency in which such Benchmark Replacement
is denominated, (2) any central bank or other supervisor that is responsible for supervising either (A) such Benchmark Replacement or
(B) the administrator of such Benchmark Replacement, (3) a group of those central banks or other supervisors or (4) the Financial Stability
Board or any part thereof.</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">&#8220;<B>Relevant Rate</B>&#8221; means (i) with
respect to any Loan denominated in an Agreed Currency (other than Canadian Dollars and Australian Dollars), SOFR, SONIA or Euribor, as
applicable or (ii) otherwise, the Relevant Screen Rate, as applicable.</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">&#8220;<B>Relevant Screen Rate</B>&#8221; means
the CDOR Rate, the Euribor Screen Rate, the AUD Screen Rate or such other applicable rate on the appropriate page of such information
service that publishes such rate from time to time as selected by the Administration Agent in its reasonable discretion, as applicable.</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"><B>&#8220;Reliable Jurisdiction&#8221;</B> means
a country (a) with a reliable enforcement regime, and (b)&nbsp;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 Administration Agent.</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"><B>&#8220;Repayment Date&#8221;</B> means a day,
other than the Final Maturity Date, on which a Borrower repays all or part of a Loan pursuant to Section 2.2, as identified and set forth
on Schedule &#8220;B&#8221;.</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">&#8220;<B>Resolution Authority </B>&#8221;means,
with respect to an EEA Financial Institution, an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority.</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">&#8220;<B>Response Date</B>&#8221; has the meaning
ascribed to it in Section 4.14(a).</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"><B>&#8220;Restructuring Expenses&#8221;</B> means
costs and expenses incurred by Canadian Borrower or any of its Subsidiaries relating to restructuring including workforce and business
optimization.</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"><B>&#8220;Revolving Facilities&#8221;</B> means,
collectively, the Canadian Revolving Facility, the U.S. Revolving Facility, the UK Revolving Facility, the Colliers EMEA Revolving Facility
and the Australian Revolving Facility.</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">&#8220;<B>RFR Business Day</B>&#8221; means, for
any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to Sterling, any day except for
(i) a Saturday, (ii) a Sunday or (iii) a day on which banks are closed for general business in London.</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"><B>&#8220;Sanctioned Country&#8221;</B> means,
at any time, a country, territory or region which is itself the subject or target of any Sanctions (which, at the time of this Agreement,
includes, without limitation, Cuba, Donetsk People&#8217;s Republic, the Luhansk People&#8217;s Republic, Iran, North Korea, Sudan, Syria,
Libya and Crimea).</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"><B>&#8220;Sanctioned Person&#8221;</B> means,
at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control
of the U.S. Department of the Treasury, the U.S. Department of State, the Government of Canada, the Government of any province or territory
of Canada or by the United Nations Security Council, the Department of Foreign Affairs and Trade (Australia), the European Union or any
EU member state (including Her Majesty&#8217;s Treasury of the United Kingdom), (b) any Person operating, organized or resident in a Sanctioned
Country, or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) and (b).</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"><B>&#8220;Sanctions&#8221;</B> means economic
or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those
administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, (b) the United
Nations Security Council, the Reserve Bank or Commonwealth Government of Australia, the European Union, any European Union Member State
or Her Majesty&#8217;s Treasury of the United Kingdom, or (c) the Government of Canada.</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">&#8220;<B>SBTi-Approved Targets</B>&#8221; means
the GHG Emission Intensity reduction targets formally approved by Science Based Targets initiative.</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">&#8220;<B>SBTi Submission</B>&#8221; refers to
the Canadian Borrower&#8217;s submission of its Science-based Targets to the SBTi.</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">&#8220;<B>SBT Amendment</B>&#8221; has the meaning
ascribed to it in Section 4.14(e)(ii).</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">&#8220;<B>SBTi Validation Notice</B>&#8221; has
the meaning ascribed to it in Section 4.14(e)(i).</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">&#8220;<B>Science-based Target</B>&#8221; means
GHG Emission Intensity reduction targets aligned with a below 1.5&deg;C pathway at minimum, set by the Canadian Borrower and submitted
to the SBTi for its validation.</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">&#8220;<B>Science-based Targets initiative&#8221;
</B>or <B>&#8220;SBTi&#8221;</B> refers to the partnership between global non-profit organizations: CDP, the United Nations Global Compact
(UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).</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">&#8220;<B>Scope 1 Emissions</B>&#8221; means,
for any period, direct greenhouse gas emissions or equivalent CO2 emissions occurring from properties occupied and the vehicle fleet operated
by the Canadian Borrower and its Subsidiaries in the operation of their business, which are determined in accordance with the terms and
conditions of the GHG Protocol.</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">&#8220;<B>Scope 2 Emissions</B>&#8221; means,
for any period, indirect greenhouse gas emissions or equivalent CO2 emissions occurring from the generation of purchased and imported
electricity consumed by the Canadian Borrower and its Subsidiaries at properties occupied and from the vehicle fleet operated by them
in the operation of their business, which are determined in accordance with the terms and conditions of the GHG Protocol.</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">&#8220;<B>Second Amended and Restated Credit Agreement</B>&#8221;
has the meaning ascribed thereto in the recitals.</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"><B>&#8220;Second Currency&#8221;</B> has the meaning
ascribed thereto in Section 15.3(a).</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">&#8220;<B>Shareholders&#8217; Agreements</B>&#8221;
means the shareholders&#8217; agreements, limited liability/operating/company agreements and/or partnership agreements (or like agreements)
for the Borrowers and each of the Subsidiaries and any such additional shareholders&#8217; agreement limited liability/operating/company
agreements and/or partnership agreement (or like agreement) entered into at the time of the acquisition of an Acquisition Entity.</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">&#8220;<B>SOFR</B>&#8221; means a rate per annum
equal to the secured overnight financing rate as administered by the SOFR Administrator and published by it on the SOFR Administrator&#8217;s
Website.</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">&#8220;<B>SOFR Administrator</B>&#8221; means
the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).</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">&#8220;<B>SOFR Administrator&#8217;s Website</B>&#8221;
means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source for the secured
overnight financing rate identified as such by the SOFR Administrator from time to time.</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">&#8220;<B>SOFR Determination Date</B>&#8221; has
the meaning specified in the definition of &#8220;Daily Simple SOFR&#8221;.</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"><B>&#8220;SOFR Interest Period&#8221; </B>means,
in respect of each Term SOFR Loan, a period of one, three or six months, or such shorter period as may be selected by the Borrower in
the Drawdown Notice or the Conversion Notice, as applicable, and agreed to by all of the Lenders (in each case, subject to the availability
thereof), with respect to such Term SOFR Loan; provided that (a) the SOFR Interest Period shall commence on the date of an Advance of
or a Conversion to a Term SOFR Loan and, in the case of immediately successive SOFR Interest Periods, each successive SOFR Interest Period
shall commence on the date on which the immediately preceding SOFR Interest Period expires; (b) if any SOFR Interest Period would otherwise
expire on a day that is not a Business Day, such SOFR Interest Period shall expire on the next succeeding Business Day; provided, that
if any SOFR Interest Period with respect to a Term SOFR Loan would otherwise expire on a day that is not a Business Day but is a day of
the month after which no further Business Day occurs in such month, such SOFR Interest Period shall expire on the immediately preceding
Business Day; (c) any SOFR Interest Period with respect to a Term SOFR Loan that begins on the last Business Day of a calendar month (or
on a day for which there is not numerically corresponding day in the calendar month at the end of such SOFR Interest Period) shall end
on the last Business Day of the relevant calendar month at the end of such SOFR Interest Period; (d) no SOFR Interest Period shall extend
beyond the Revolving Facilities Maturity Date; and (e) no tenor that has been removed from this definition pursuant to Section 7.1 shall
be available for specification in such interest election.</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">&#8220;<B>SOFR Loan</B>&#8221; means a Loan that
bears interest at a rate based on Adjusted Term SOFR or Adjusted Daily Simple SOFR, as applicable, other than pursuant to clause (c) of
the definition of &#8220;U.S. Base Rate&#8221;.</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">&#8220;<B>SOFR Margin</B>&#8221; means, in respect
of a SOFR Loan, or portion thereof outstanding on or after the Effective Date, the SOFR Margin described in the definition of Applicable
Margin.</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">&#8220;<B>SOFR Rate Day</B>&#8221; has the meaning
specified in the definition of &#8220;Daily Simple SOFR&#8221;.</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">&#8220;<B>SONIA</B>&#8221; means a rate per annum
equal to the Sterling Overnight Index Average published by the SONIA Administrator on the SONIA Administrator&#8217;s Website.</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">&#8220;<B>SONIA Adjustment</B>&#8221; means, with
respect to SONIA, 3.26 basis points for a SONIA Interest Period of one-month&#8217;s duration, 6.33 basis points for a SONIA Interest
Period of two-month&#8217;s duration, 11.93 basis points for a SONIA Interest Period of three-month&#8217;s duration, and 27.66 basis
points for a SONIA Interest Period of six-months&#8217; duration.</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">&#8220;<B>SONIA Administrator</B>&#8221; means
the Bank of England (or any successor administrator of the Sterling Overnight Index Average).</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">&#8220;<B>SONIA Administrator&#8217;s Website</B>&#8221;
means the Bank of England&#8217;s website, currently at http://www.bankofengland.co.uk, or any successor source for the Sterling Overnight
Index Average identified as such by the SONIA Administrator from time to time.</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">&#8220;<B>SONIA Determination Date</B>&#8221;
has the meaning specified in the definition of &#8220;SONIA Rate&#8221;.</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"><B>&#8220;SONIA Interest Period&#8221; </B>means,
in respect of each SONIA Loan, a period of one, two, three or six months, or such shorter period as may be selected by the Borrower in
the Drawdown Notice or the Conversion Notice, as applicable, and agreed to by all of the Lenders (in each case, subject to the availability
thereof), with respect to such SONIA Loan; provided that (a) the SONIA Interest Period shall commence on the date of an Advance of or
a Conversion to a SONIA Loan and, in the case of immediately successive SONIA Interest Periods, each successive SONIA Interest Period
shall commence on the date on which the immediately preceding SONIA Interest Period expires; (b) if any SONIA Interest Period would otherwise
expire on a day that is not a Business Day, such SONIA Interest Period shall expire on the next succeeding Business Day; provided, that
if any SONIA Interest Period with respect to a SONIA Loan would otherwise expire on a day that is not a Business Day but is a day of the
month after which no further Business Day occurs in such month, such SONIA Interest Period shall expire on the immediately preceding Business
Day; (c) any SONIA Interest Period with respect to a SONIA Loan that begins on the last Business Day of a calendar month (or on a day
for which there is not numerically corresponding day in the calendar month at the end of such SONIA Interest Period) shall end on the
last Business Day of the relevant calendar month at the end of such SONIA Interest Period; (d) no SONIA Interest Period shall extend beyond
the Revolving Facilities Maturity Date; and (e) no tenor that has been removed from this definition pursuant to Section 7.1 shall be available
for specification in such interest election.</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">&#8220;<B>SONIA Loan</B>&#8221; means a Loan that
bears interest at a rate based on Adjusted SONIA.</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">&#8220;<B>SONIA Margin</B>&#8221; means, in respect
of a SONIA Loan, or portion thereof outstanding on or after the Effective Date, the SONIA Margin described in the definition of Applicable
Margin.</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">&#8220;<B>SONIA Rate</B>&#8221; means, for any
day (a &#8220;<B>SONIA Rate Day</B>&#8221;), a rate per annum equal to SONIA for the day (such day &#8220;SONIA Determination Date&#8221;)
that is five (5) RFR Business Days prior to (a) if such SONIA Rate Day is a RFR Business Day, such SONIA Rate Day or (b) if such SONIA
Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such SONIA Rate Day, in each case, as such SONIA is published
by the SONIA Administrator on the SONIA Administrator&#8217;s Website. Any change in the SONIA Rate due to a change in SONIA shall be
effective from and including the effective date of such change in SONIA without notice to the Borrower.</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">&#8220;<B>SONIA Rate Day</B>&#8221; has the meaning
specified in the definition of &#8220;SONIA Rate&#8221;.</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">&#8220;<B>SPT Metrics</B>&#8221; means the sustainability
performance target metrics relating to GHG Emission Intensity, the Percentage of Women in Management Roles and the Percentage of WELL
Certified Properties, in each case, subject to adjustment in accordance with the proviso in Section 4.14(b).</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">&#8220;<B>SPT Metric Adjustment Proposal</B>&#8221;
means a proposal to be delivered by the Canadian Borrower to the Sustainability Structuring Agent in accordance with Section 8.2(h), setting
out (a) the baseline levels for each SPT Metric verified in the 2021 Baseline Report, and (b) the adjustments (if any) the Canadian Borrower
considers appropriate to (i) the SPT Metrics, and/or (ii) to any element of any table set out in the definitions of the terms &#8220;GHG
Intensity&#8221;, and/or &#8220;Percentage of Women in Management Roles&#8221;, in light of the findings of the 2021 Baseline Report.</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">&#8220;<B>SPT Metric Effective Date</B>&#8221;
means: (a) the date on which the Canadian Borrower delivers the 2021 Baseline Report to the Sustainability Structuring Agent and the Agent,
if the 2021 Baseline Report verifies the Baseline Sustainability Level for each SPT Metric as at the date of this Agreement; or (b) if
the 2021 Baseline Report does not verify the Baseline Sustainability Level for each SPT Metric as at the date of this Agreement, the date,
if any, on which the Agent (acting on the instructions of the Majority Lenders) agrees in writing to an SPT Metric Adjustment Proposal
in accordance with Section 4.14(a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;<B>SPT Metrics Report</B>&#8221; means
an annual report (it being understood that this annual report may take the form of the Sustainability Certificate) that sets forth the
calculations for each SPT Metric for a specific year, beginning with the annual report covering the Fiscal Year ended on December 31,
2022.</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"><B>&#8220;Standby Letter of Credit&#8221;</B>
means a standby letter of credit issued by any Issuing Bank pursuant to Section 2.11 or a letter of guarantee, standby guarantee or bank
guarantee issued by an Issuing Bank which is a Canadian Lender or an Australian Lender.</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"><B>&#8220;Sterling&#8221;</B> or <B>&#8220;&pound;&#8221;</B>
means the lawful money of the United Kingdom.</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"><B>&#8220;Subsidiary&#8221;</B> of any Person
means any corporation or other entity of which securities or other ownership interests having ordinary voting power to elect a majority
of the board of directors or of others performing similar functions are directly or indirectly owned or controlled by such Person.</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">&#8220;<B>Supported QFC</B>&#8221; has the meaning
ascribed to it in Section 16.16.</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">&#8220;<B>Sustainability Auditor</B>&#8221; means
an independent external party with relevant expertise selected by the Canadian Borrower in consultation with the Administration Agent
(acting reasonably), acting in the capacity of independent auditor for the purpose of determining the SPT Metrics relating to GHG Emission
Intensity, the Percentage of Women in Management Roles and the Percentage of WELL Certified Properties.</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">&#8220;<B>Sustainability Certificate</B>&#8221;
means the sustainability certificate containing performance metrics to be delivered by the Canadian Borrower on an annual basis attaching
(a) a true and correct copy of the SPT Metrics Report for the most recently ended Fiscal Year and setting forth the Applicable Sustainability
Margin Adjustment for the period covered thereby and computations in reasonable detail in respect thereof and (b) a review of the Sustainability
Auditors confirming that such Sustainability Auditors are not aware of any material modifications that should be made to such computations
in order for the to be presented in all material respects in conformity with the applicable reporting criteria (or such other substantially
similar statement as is customary at the applicable time for a limited assurance review), such certificate to be substantially in the
form as set out in Schedule &#8220;L&#8221; hereto.</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">&#8220;<B>Sustainability Eligible Location</B>&#8221;
means each office location of 2,500 square feet or greater occupied by the Canadian Borrower or any Subsidiary.</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">&#8220;<B>Sustainability Margin Adjustment Date</B>&#8221;
has the meaning ascribed to it in Section 4.14(b)(i).</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">&#8220;<B>Sustainability Report</B>&#8221; means
the annual sustainability report published by the Canadian Borrower on its website and relating to various matters relevant to its business
and its stakeholders, including disclosure of the GHG Emission Intensity, the Percentage of Women in Management Roles and Percentage of
WELL Certified Properties.</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">&#8220;<B>Sustainability Structuring Agent</B>&#8221;
means BMO Capital Markets, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity as the
Sustainability Structuring Agent for the Lenders hereunder.</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"><B>&#8220;Swap Obligation&#8221;</B> means, with
respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a &#8220;swap&#8221;
within the meaning of section 1a(47) of the <I>Commodity Exchange Act</I> or any rules or regulations promulgated thereunder.</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"><B>&#8220;Swingline Facilities&#8221;</B> means,
collectively, the Canadian Swingline Facility, the U.S. Swingline Facility, the U.S. Sweep to Loan Facility and the Australian Swingline
Facility.</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">&#8220;<B>Swingline Lender Change Notice</B>&#8221;
means a notice delivered in accordance with Section 14.9.</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"><B>&#8220;Swingline Lenders&#8221;</B> means the
Canadian Swingline Lenders, the U.S. Swingline Lender and the Australian Swingline Lender and their respective successors and assigns,
and &#8220;<B>Swingline Lender</B>&#8221; means any Canadian Swingline Lender, U.S. Swingline Lender or Australian Swingline Lender, as
the case may be.</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"><B>&#8220;TARGET Day&#8221;</B> means any day
on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined by the Administration
Agent to be a suitable replacement) is open for the settlement of payments in Euros.</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"><B>&#8220;TARGET2&#8221;</B> means the Trans-European
Automated Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform and which was launched on
November 19, 2007.</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"><B>&#8220;Tax&#8221;</B> includes all present
and future taxes, levies, imposts, stamp taxes, duties or other charges or withholdings of a similar nature and all penalty, interest
and other payments on or in respect thereof.</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">&#8220;<B>Tax Consolidated Group</B>&#8221; means
a &#8220;Consolidated Group&#8221; or an &#8220;MEC Group&#8221; as defined in the <I>Income Tax Assessment Act 1997</I> (Cth) of Australia.</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"><B>&#8220;Tax Credit&#8221;</B> means a credit
against, relief or remission for, or refund or repayment of, any Taxes.</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"><B>&#8220;Tax Deduction&#8221;</B> means a deduction
or withholding for or on account of Taxes from a payment under any Loan Document, other than a FATCA Deduction.</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">&#8220;<B>Term SOFR</B>&#8221; means, for any
SOFR Interest Period for a SOFR Loan, the Term SOFR Reference Rate (rounded upward to the nearest fifth decimal place, if necessary) for
a tenor comparable to the applicable SOFR Interest Period on the day (the &#8220;<B>Term SOFR Determination Day</B>&#8221;) that is two
(2) U.S. Government Securities Business Days prior to the first day of such SOFR Interest Period, as such rate is published by the Term
SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Term SOFR Determination Day the Term SOFR Reference
Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the
Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term
SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor
was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than
three (3) U.S. Government Securities Business Days prior to such Term SOFR Determination Day.</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">&#8220;<B>Term SOFR Adjustment</B>&#8221; means,
with respect to Term SOFR, 10 basis points.</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">&#8220;<B>Term SOFR Administrator</B>&#8221; means
CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Agent in
its discretion, acting reasonably).</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">&#8220;<B>Term SOFR Determination Day</B>&#8221;
has the meaning assigned to it under the definition of Term SOFR.</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">&#8220;<B>Term SOFR Reference Rate</B>&#8221;
means the forward-looking term rate based on SOFR.</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"><B>&#8220;Total Australian Commitments&#8221;</B>
means U.S.$50,000,000 and includes the Australian Revolving Facility Commitment and the Australian Swingline Commitment, which may be
increased or decreased as the result of the Incremental Facility.</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"><B>&#8220;Total Canadian Commitments&#8221;</B>
means U.S.$675,000,000 and includes the Canadian Revolving Facility Commitment and the Canadian Swingline Commitment, which may be increased
or decreased as the result of a reallocation made in accordance with Section 6.6 or increased as the result of the Incremental Facility.</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"><B>&#8220;Total Colliers EMEA Commitments&#8221;</B>
means U.S.$200,000,000 and includes the Colliers EMEA Revolving Facility Commitment, which may be increased or decreased as the result
of a reallocation made in accordance with Section 6.6 or increased as the result of the Incremental Facility.</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"><B>&#8220;Total Commitments&#8221;</B> means the
aggregate for all Facilities from time to time of the Lenders&#8217; Commitments from time to time to a maximum aggregate amount of U.S.$1,500,000,000
which may be increased as the result of the Incremental Facility.</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"><B>&#8220;Total Debt&#8221;</B> shall include,
without duplication, the obligations under this Agreement, obligations in respect of Permitted Unsecured Loans, Financial Contract Obligations,
guaranteed obligations, capital leases, vendor-take-back financing, subordinated debt, reimbursement obligations with respect to letters
of credit and any other interest bearing obligations of the Canadian Borrower and its Subsidiaries on a Consolidated basis excluding the
Unrestricted Entities but otherwise determined in accordance with GAAP after deduction of unrestricted cash-on-hand plus the aggregate
of all Cash Amounts; provided that &#8220;Total Debt&#8221; shall exclude (i) any Convertible Debentures up to a maximum aggregate amount
of U.S.$500,000,000, and (ii) indebtedness in respect of the Warehouse Line (as permitted under Section 8.3(b)(xiii) of this Agreement).</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"><B>&#8220;Total Debt/Consolidated EBITDA Ratio&#8221;
or &#8220;TD/CE Ratio&#8221;</B> means, at any time, the quotient obtained by dividing (a) Total Debt (as numerator) by (b) Consolidated
EBITDA (as denominator), for the purpose of this ratio, calculated on the basis of the immediately preceding four consecutive Quarters
so as to include all Persons that have become Subsidiaries during the relevant periods in a manner permitted by the terms of this Agreement,
with EBITDA from Acquisition Entities to be included in the calculations by using the trailing 12 month EBITDA for the Acquisition Entity
or entities and so as to exclude the EBITDA of a former Subsidiary that ceased being a Subsidiary during the previous four Quarters; In
addition, the Consolidated EBITDA may be adjusted to include a full year impact of the cost savings in respect of any such Acquisition
Entity which are readily identifiable and can be immediately implemented, such as elimination of salaries for redundant employees and
elimination of various administrative functions which will, in the reasonable opinion of the Canadian Borrower, become unnecessary or
otherwise performed more cost effectively (such cost savings being collectively &#8220;<B>Normalizing Adjustments</B>&#8221;); provided
that such adjustments shall only be made if (i) the Canadian Borrower has provided to the Canadian Agent details of such Normalizing Adjustments
following the completion of the acquisition of such Acquisition Entity, and (ii) the Canadian Agent has not provided written notice to
the Canadian Borrower within 15 Business Days of the receipt by the Canadian Agent of such details that the Majority Lenders do not so
consent to the Normalizing Adjustments.</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"><B>&#8220;Total U.S. Commitments&#8221; </B>means
U.S.$400,000,000 and includes the U.S. Revolving Facility Commitment and the U.S. Swingline Commitment, which may be increased or decreased
as the result of a reallocation made in accordance with Section 6.6 or increased as the result of the Incremental Facility.</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"><B>&#8220;Total UK Commitments&#8221;</B> means
U.S.$175,000,000 and includes the UK Revolving Facility Commitment, which may be increased or decreased as the result of a reallocation
made in accordance with Section 6.6 or increased as the result of the Incremental Facility.</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">&#8220;<B>Total LC Sublimit</B>&#8221; has the
meaning ascribed thereto in Section 2.11(a)(i).</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"><B>&#8220;Trade Letter of Credit&#8221;</B> means
a trade letter of credit or letter of guarantee acceptable to the Majority Lenders, acting reasonably, issued by an Issuing Bank pursuant
to Section 2.11.</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"><B>&#8220;Transfer Certificate&#8221;</B> means
a certificate substantially in the form set out in Schedule &#8220;C&#8221; signed by a Lender and a Transferee.</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"><B>&#8220;Transferee&#8221;</B> means a Canadian
Assignee, a U.S. Assignee, a UK Assignee, a Colliers EMEA Assignee and an Australian Assignee or any other transferee to which a Lender
seeks to assign or transfer all or part of such Lender&#8217;s rights and obligations hereunder in accordance with Article&nbsp;14.</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"><B>&#8220;Treaty Lender&#8221;</B> means for purposes
of Section 7.6, a Lender which:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">is treated as a resident of a Treaty State for the purposes of the relevant Treaty;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">does not carry on a business in the United Kingdom, as applicable, through a permanent establishment with
which that Lender&#8217;s participation in any advance is effectively connected; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">meets all other conditions of the relevant Treaty for full exemption from the United Kingdom, as applicable,
taxation on interest and other amounts which relate to the Lender (including, without limitation, its tax or other status, the manner
in which or the period for which it holds any rights under this Agreement, the reasons or purposes for its acquisition of such rights
and the nature of any arrangements by which it disposes of or otherwise turns to account such rights) under the Loan Documents. In this
subclause (c), &#8220;conditions&#8221; shall mean conditions relating to an entity&#8217;s eligibility for full exemption under the relevant
Treaty and shall not be treated as including any procedural formalities that need to be satisfied in relation to that Treaty.</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&#8220;Treaty State&#8221;</B> has the meaning
ascribed thereto in Section 7.6.</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"><B>&#8220;Type&#8221;</B> means, with respect
to any Loan, a Canadian Prime Rate Loan, a U.S. Base Rate Loan, a U.S. Prime Rate Loan, an Australian Base Rate Loan, an Australian Bank
Bill Rate Loan or a SOFR Loan and otherwise, with respect to any Borrowing or portion thereof, Bankers&#8217; Acceptances or Letters of
Credit.</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"><B>&#8220;UK Assignee</B>&#8221; has the meaning
ascribed thereto in Section 14.3(a).</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"><B>&#8220;UK Borrower&#8221;</B> has the meaning
ascribed thereto in the recitals.</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">&#8220;<B>UK Financial Institution</B>&#8221;
means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom
Prudential Regulation Authority) or any Person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated
by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain Affiliates
of such credit institutions or investment firms.</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"><B>&#8220;UK Lenders&#8221;</B> means the Lenders
identified as UK Lenders on the execution pages hereof having a Commitment to lend or when such Commitment shall have terminated, having
Borrowings outstanding to the UK Borrower under the UK Revolving Facility. UK Lenders includes any Person who becomes a UK Lender hereunder
pursuant to Section&nbsp;2.13.</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">&#8220;<B>UK Resolution Authority </B>&#8221;means
the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.</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"><B>&#8220;UK Revolving Facility&#8221;</B> means
the Commitments of the UK Lenders to make Advances to the UK Borrower in accordance with Section 2.2(e) and such Advances so made.</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"><B>&#8220;UK Revolving Facility Commitment&#8221;</B>
means the Commitments of the UK Lenders to make Advances to the UK Borrower of up to U.S.$175,000,000 as same may be increased as the
result of the Incremental Facility; provided that the aggregate outstanding Borrowings under the UK Revolving Facility shall not exceed
the Total UK Commitments at any time.</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"><B>&#8220;Unadjusted Benchmark Replacement&#8221;
</B>means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.</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">&#8220;<B>Unrestricted Entities</B>&#8221; means
Eligible Businesses in which a Borrower or any Subsidiary has invested (whether or not such entity is controlled by a Borrower or any
Subsidiary) which investments are not prohibited under Section 8.3(f)(ii). Schedule &#8220;A&#8221; 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;<B>Unused SPT Metric</B>&#8221; has the
meaning ascribed thereto in Section 4.14(b).</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"><B>&#8220;U.S.&#8221;</B> means the United States
of America.</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"><B>&#8220;U.S. Agent&#8221;</B> means Bank of
Montreal, Chicago Branch, and its successors and assigns duly appointed in accordance with Section 13.6, acting in the capacity as U.S.
administration agent for the Lenders hereunder.</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"><B>&#8220;U.S. Assignee&#8221;</B> has the meaning
ascribed thereto in Section 14.3(a).</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"><B>&#8220;U.S. Base Rate&#8221;</B> means, for
any particular day the variable rate of interest per annum calculated on the basis of a year of 360 days equal to the greater of (a) the
base rate most recently announced by the Canadian Agent as its base rate for U.S. Dollar demand loans in Canada, (b) the sum of the Federal
Funds Rate in effect plus .50% per annum, and (c) Adjusted Term SOFR for a one-month tenor in effect for such day plus 1.00%; provided
that to the extent such highest rate as calculated above shall, at any time, be less than the Floor, such rate shall be deemed to be Floor
for all purposes herein. .</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"><B>&#8220;U.S. Base Rate Loans&#8221;</B> mean
Loans, or any portion thereof, that bear interest at the U.S. Base Rate, made available by the Canadian Lenders to the Canadian Borrower
or CMN outstanding from time to time which are drawn in U.S. Dollars and in respect of which interest is payable in accordance with Section
4.2.</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"><B>&#8220;U.S. Base Rate Margin&#8221;</B> means,
in respect of a U.S. Base Rate Loan, or portion thereof outstanding on or after the Effective Date, the U.S. Base Rate Margin described
in the definition of Applicable Margin.</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"><B>&#8220;U.S. Borrower&#8221;</B> has the meaning
ascribed thereto in the recitals.</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"><B>&#8220;U.S. Dollars&#8221;</B> means the lawful
money of the United States of America and <B>&#8220;U.S.$&#8221;</B> or <B>&#8220;$&#8221;</B> or <B>&#8220;Dollars&#8221;</B> has a corresponding
meaning.</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"><B>&#8220;U.S. Facilities&#8221;</B> means the
U.S. Revolving Facility and the U.S. Swingline Facility.</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">&#8220;<B>U.S. Government Securities Business
Day</B>&#8221; means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets
Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United
States government securities.</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"><B>&#8220;U.S. Lenders&#8221;</B> means the Lenders
identified as U.S. Lenders on the execution pages hereof having a Commitment to lend or when such Commitment shall have terminated, having
Borrowings outstanding to the U.S. Borrower under the U.S. Facilities. U.S. Lenders includes any Person who becomes a U.S. Lender hereunder
pursuant to Section&nbsp;2.13.</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"><B>&#8220;U.S. Prime Rate&#8221;</B> means for
any particular day the variable rate of interest per annum calculated on the basis of a year of 360 days equal to the greater of (a) the
rate publicly announced from time to time by the U.S. Agent as its prime lending rate, (b) the sum of the Federal Funds Rate in effect
plus one percent (1%) per annum, and (c) SOFR (calculated utilizing SOFR for a one (1) month SOFR Interest Period) <U>plus</U> one percent
(1.00%) per annum. This rate of interest is determined from time to time by the U.S. Agent as a means of pricing U.S. Dollar loans to
customers in the U.S.</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"><B>&#8220;U.S. Prime Rate Loan&#8221;</B> means
Loans, or any portion thereof, made available by the U.S. Lenders to the U.S. Borrower outstanding from time to time which are drawn down
in U.S. Dollars and in respect of which interest is payable in accordance with Section 4.4.</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"><B>&#8220;U.S. Prime Rate Margin&#8221;</B> means
in respect of a U.S. Prime Rate Loan, or portion thereof outstanding on or after the Effective Date, the U.S. Prime Rate Margin described
in the definition of Applicable Margin.</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"><B>&#8220;U.S. Revolving Facility&#8221;</B> means
Commitments of the U.S. Lenders to make Advances to the U.S. Borrower in accordance with Section 2.2(c) and such Advances so made.</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"><B>&#8220;U.S. Revolving Facility Commitment&#8221;
</B>means Commitments of the U.S. Lenders to make Advances to the U.S. Borrower of up to U.S.$365,000,000 as same may be increased as
the result of the Incremental Facility; provided that the aggregate outstanding Borrowings under the U.S. Facilities shall not exceed
the Total U.S. Commitments at any time.</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">&#8220;<B>U.S. Special Resolution Regimes</B>&#8221;
has the meaning ascribed to it in Section 16.16.</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">&#8220;<B>U.S. Sweep Depositary</B>&#8221; has
the meaning ascribed to it in the definition of &#8220;U.S. Sweep to Loan Facility&#8221;.</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"><B>&#8220;U.S. Sweep to Loan Commitment&#8221;
</B>means the Commitment of the U.S. Sweep Depositary to make Advances to the Canadian Borrower of up to U.S.$15,000,000 which Commitment
constitutes a sub-commitment of the Total U.S. Commitments; provided that the aggregate outstanding Borrowings under the U.S. Facilities
shall not exceed the Total U.S. Commitments at any time.</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">&#8220;<B>U.S. Sweep to Loan Facility</B>&#8221;
means a cash management arrangement established by the Canadian Borrower with Bank of Montreal, Chicago Branch, or an Affiliate thereof,
as depositary (in such capacity, the &#8220;<B>U.S. Sweep Depositary</B>&#8221;), pursuant to which such U.S. Sweep Depositary is authorized
(a) to make advances under such facility, the proceeds of which are deposited by the U.S. Sweep Depositary into a designated account of
the Canadian Borrower maintained at the U.S. Sweep Depositary, and (b) to accept as prepayments of such facility proceeds of excess targeted
balances held in such designated account at the U.S. Sweep Depositary, which cash management arrangement is subject to such agreement(s)
and on such terms acceptable to the U.S. Sweep Depositary.</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"><B>&#8220;U.S. Swingline Commitment&#8221;</B>
means the Commitment of the U.S. Swingline Lender to make Advances to the U.S. Borrower of up to U.S.$20,000,000 which Commitment constitutes
a sub-commitment of the Total U.S. Commitments; provided that the aggregate outstanding Borrowings under the U.S. Facilities shall not
exceed the Total U.S. Commitments at any time.</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"><B>&#8220;U.S. Swingline Facility&#8221;</B> means
Commitments of the U.S. Swingline Lender to make Advances to the U.S. Borrower in accordance with Section 2.2(d) and such Advances so
made.</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"><B>&#8220;U.S. Swingline Lender&#8221;</B> means
JPMorgan Chase Bank, N.A. and its successors and assigns.</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"><B>&#8220;VAT&#8221;</B> means:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any tax imposed in compliance with the Council Directive of 28 November 2006 or the common system of value
added tax (EC Directive 2006/112); and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any other tax of a similar nature, that is either (i) imposed in a member state of the European Union
in substitution for, or levied in addition to, such tax referred to in paragraph (a) above, or (ii) imposed elsewhere.</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"><B>&#8220;Violation Notice&#8221;</B> means any
notice received by a Borrower or any of its Subsidiaries from any governmental or regulatory body or agency under any Environmental Law
that such Borrower or any of its Subsidiaries is in non-compliance with the requirements of any Environmental Law.</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"><B>&#8220;Warehouse Line&#8221;</B> means one
or more secured, first priority revolving credit facilities in favour of CMH and/or any of its Subsidiaries, by and among CMH and/or any
of its Subsidiaries and the financial institutions party thereto from time to time, for the purpose of funding mortgage loans originated
by CMH or any of its Subsidiaries.</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">&#8220;<B>WELL Health-Safety Rating</B>&#8221;
means the certification in respect of a Sustainability Eligible Location issued by the International WELL Building Institute or an affiliate
thereof, as described at https://www.wellcertified.com/health-safety.</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"><B>&#8220;Wholly-Owned Subsidiary&#8221;</B> means
any corporation or other entity of which 100% of the securities or other ownership interests are owned directly or indirectly by a Borrower.</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">&#8220;<B>Write-Down and Conversion Powers</B>&#8221;
means (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time
to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the
EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable UK Resolution Authority under
the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or
instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that
UK Financial Institution or any other Person to provide that any such contract or instrument is to have effect as if a right had been
exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that
are related to or ancillary to any of those powers.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: justify">References</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">Any reference made in this Agreement to:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Any of the &#8220;Administration Agent&#8221;, the &#8220;Canadian Agent&#8221;, the &#8220;U.S. Agent&#8221;,
the &#8220;Australian Agent&#8221;, the &#8220;Colliers EMEA Agent&#8221;, the &#8220;European Agent&#8221;, the &#8220;Sustainability
Structuring Agent&#8221;, the &#8220;Lenders&#8221; or a &#8220;Lender&#8221; shall so be construed as to include its or their respective
successors and permitted assigns.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">A time of day is, unless otherwise stated, a reference to Toronto, Ontario (Canada) time.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Sections, Articles or Schedules is, unless otherwise indicated, to Sections and Articles of this Agreement
and to Schedules to this Agreement, as the case may be. The provisions of each Schedule shall constitute provisions of this Agreement
as though repeated at length herein.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">A &#8220;month&#8221; is a reference to a period starting on one day in a calendar month to but excluding
the numerically corresponding day in the next calendar month except that, where any such period would otherwise end on a day other than
a Business Day, it shall end on the next Business Day, unless that day falls in the calendar month succeeding that in which it would otherwise
have ended, in which case it shall end on the next preceding Business Day in a calendar month or if there is no numerically corresponding
day in the month in which that period ends, that period shall end on the last Business Day in that later month (and references to &#8220;months&#8221;
(other than &#8220;calendar months&#8221;) shall be construed accordingly).</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: bold 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">1.3</TD><TD STYLE="text-align: justify">Interpretation</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">In this Agreement:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the singular includes the plural and vice versa;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&#8220;in writing&#8221; or &#8220;written&#8221; includes printing, typewriting, or any electronic means
of communication capable of being visibly reproduced at the point of reception, including telex, telecopy and telegraph and, as between
an Agent and the Lenders (but only when so directed by an Agent), Refinitiv or equivalent means of communication;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any document (including this Agreement), notice, note, bill of exchange or other instrument shall be considered
to have been validly signed or executed, if it has been signed by either an original signature, facsimile or other form of electronic
signature or stamp affixed by an Authorized Signatory, provided that any promissory notes required by a Lender and the bills of exchange
or depository notes to be deposited pursuant to Section 2.6 shall be considered to be validly signed or executed only if signed by an
original signature of an Authorized Signatory; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">all calculations of interest under this Agreement are to be made on the basis of the stated rates set
out herein and not on the basis of the effective yearly rates determined on any basis which gives effect to the principle of deemed reinvestment.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Unless otherwise expressly provided herein, (i) references to agreements (including this Agreement) and
other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent
such amendments and other modifications are not prohibited by the terms of this Agreement, and (ii) references to any statute or regulation
are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting
the statute or regulation. In addition, (x) the <I>Dodd&#8211;Frank Wall Street Reform and Consumer Protection Act</I> (Pub.L. 111-203,
H.R. 4173), all laws in respect thereto, all interpretations and applications thereof and any compliance by a Lender with any request
or directive relating thereto and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements,
the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities,
in each case pursuant to Basel III, shall, for the purposes of this Agreement, be deemed to be adopted subsequent to the date hereof.</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: bold 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">1.4</TD><TD STYLE="text-align: justify">Headings and Table of Contents</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">The headings, the table of contents, the Articles
and the Sections are inserted for convenience only and are to be ignored in construing this Agreement.</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: bold 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">1.5</TD><TD STYLE="text-align: justify">Accounting Terms</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">All accounting terms (not defined in this Agreement) shall be interpreted, all accounting determinations
shall be made, and all financial statements shall be prepared, in accordance with GAAP as at December 31, 2021. In the event that any
&#8220;Accounting Changes&#8221; (as defined below) shall occur and such change results in a change in the method of calculation of financial
covenants, standards or terms in this Agreement, then at the Canadian Borrower&#8217;s request:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Agent and the Lenders shall enter into negotiations with the Canadian Borrower, to be conducted reasonably
and in good faith by all parties, in order to amend such provisions of this Agreement so as to reflect equitably such Accounting Changes
with the desired result that the criteria for evaluating the financial condition of the Borrowers and Guarantors shall be the same after
such Accounting Changes as if such Accounting Changes had not been made. Until such time as such an amendment shall have been executed
and delivered by the Borrower and Guarantor, the Agent and the Majority Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting Changes had not occurred; or</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed
as if such Accounting Changes had not occurred, and the Canadian Borrower will continue to provide all financial information and calculations
to enable this to continue together with reconciliations to the public financial statements and information prepared in accordance with
the Accounting Changes;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&#8220;Accounting Changes&#8221; refers to changes in accounting principles (i) 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 or (ii) otherwise proposed by the Canadian Borrower to, and approved by, Majority Lenders.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">1.6</TD><TD STYLE="text-align: justify">Currency Calculations</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">All references in the Loan Documents to Loans,
Letters of Credit, Obligations and other amounts shall be denominated in Dollars, unless expressly provided otherwise. The Equivalent
Amount of any amounts denominated or reported under a Loan Document in a currency other than Dollars shall be determined by Administration
Agent on a daily basis based on the current Exchange Rate. Each Borrower shall report, as required, all collateral and financial components
to Administration Agent in the currency shown in such Borrower&#8217;s financial records, and unless expressly provided otherwise, Canadian
Borrower shall deliver consolidated financial statements and calculate financial covenants in Dollars. Notwithstanding anything herein
to the contrary, if any Obligation is funded and expressly denominated in a currency other than Dollars, Borrowers shall repay such Obligation
in such other currency.</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: bold 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">1.7</TD><TD STYLE="text-align: justify">Interest Rates; Benchmark Notification</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">The interest rate on a Loan
may be derived from an interest rate benchmark that may be discontinued or is, or may in the future become, the subject of regulatory
reform. Upon the occurrence of a Benchmark Transition Event, Section 7.1 provides a mechanism for determining an alternative rate of interest.
The Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, (a) the continuation of,
the administration of, submission of, calculation of, performance of or any other matter related to any interest rate used in this Agreement
(including, without limitation, the U.S. Base Rate, Daily Simple SOFR, Adjusted Daily Simple SOFR, SOFR, the Term SOFR Reference Rate,
Adjusted Term SOFR, Term SOFR, SONIA, the SONIA Rate or Adjusted SONIA) or any component definition thereof or rates referred to in the
definition thereof, or with respect to any alternative or successor rate thereto, or replacement rate thereof (including any Benchmark
Replacement), including without limitation, whether the composition or characteristics of any such alternative, successor or replacement
reference rate will be similar to the existing interest rate (or any component thereof) being replaced or have the same volume or liquidity
as did any existing interest rate (or any component thereof) prior to its discontinuance or unavailability. The Agent and its affiliates
and/or other related entities may engage in transactions unrelated to this Agreement, that may affect the calculation of any interest
rate (or component thereof) used in this Agreement or any alternative, successor or alternative rate (including any Benchmark Replacement)
and/or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or
services in its reasonable discretion to ascertain any interest rate used in this Agreement, any component thereof, or rates referred
to in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender
or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages,
costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any
such rate (or component thereof) provided by any such information source or service or the effect, implementation or composition of any
Conforming Changes.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.8</TD><TD STYLE="text-align: justify">Recitals</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">The recitals to this Agreement form part hereof.</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: bold 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">1.9</TD><TD STYLE="text-align: justify">Schedules</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">The schedules attached to this Agreement, including
as they may be amended from time to time, shall for all purposes form an integral part of this Agreement.</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: bold 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">1.10</TD><TD STYLE="text-align: justify">Precedence</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">In the event that any provisions
of the Continuing Guarantees contradict or are otherwise incapable of being construed in conjunction with the provisions of this Agreement,
the provisions of this Agreement shall take precedence over those contained in the Continuing Guarantees and, in particular, if any act
of a Borrower or a Guarantor is expressly permitted under this Agreement but is prohibited under the Continuing Guarantees, any such act
shall be permitted under this Agreement and shall be deemed to be permitted under the Continuing Guarantees,</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.11</TD><TD STYLE="text-align: justify">Dutch Terms</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Without prejudice to the generality
of any provision of this agreement, in this agreement or any Loan Document, where it relates to the Dutch Borrower, a reference to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a necessary action to authorise, where applicable, includes without limitation:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any action required to comply with the Dutch Works Councils Act (<I>Wet op de ondernemingsraden</I>);
and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">obtaining a positive advice (<I>positief advies</I>) from the competent works council(s);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a security interest includes any mortgage (<I>hypotheek</I>), pledge (<I>pandrecht</I>), retention of
title arrangement (<I>eigendomsvoorbehoud</I>), privilege (<I>voorrecht</I>), right of retention (<I>recht van retentie</I>) and right
to reclaim goods (<I>recht van reclame</I>);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">a winding-up, administration or dissolution includes a Dutch person being declared bankrupt (<I>failliet
verklaard</I>) or dissolved (<I>ontbonden</I>);</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">a moratorium or suspension of payments includes a <I>surseance van betaling</I> and granted a moratorium
or suspension of payments includes <I>surseance verleend</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">a trustee, receiver or administrator includes a <I>curator</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">an administrator includes a <I>bewindvoerder</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">a liquidator includes a <I>vereffenaar</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">an attachment includes a <I>beslag</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a group includes a <I>groep</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">a subsidiary includes a <I>dochtermaatschappij</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">an affiliate includes a <I>groepsmaatschappij</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">a merger includes a <I>juridische fusie, aandelenfusie </I>and <I>bedrijfsfusie</I>;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">a director includes a <I>bestuurder</I>; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">constitutional documents include an <I>akte van oprichting </I>and <I>statuten.</I></TD></TR></TABLE>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;2</FONT><BR>
&#8211;&nbsp;FACILITIES</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">The Credit Facilities</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Subject to the terms of this Agreement, (i) the Canadian Lenders shall extend credit to the Canadian Borrower
and CMN by way of the Canadian Revolving Facility; (ii) the Canadian Swingline Lenders shall extend credit to the Canadian Borrower by
way of the Canadian Swingline Facility, (iii) the U.S. Lenders shall extend credit to the U.S. Borrower by way of the U.S. Revolving Facility;
(iv) the U.S. Swingline Lender shall extend credit to the U.S. Borrower by way of the U.S. Swingline Facility, (v) the U.S. Sweep Depositary
shall extend credit to the Canadian Borrower by way of the U.S. Sweep to Loan Facility, (vi) the UK Lenders shall extend credit to the
UK Borrower by way of the UK Revolving Facility; (vii) the Colliers EMEA Lenders shall extend credit to Colliers EMEA and the Dutch Borrower
by way of the Colliers EMEA Revolving Facility; (viii) the Australian Lenders shall extend credit to the Australian Borrower by way of
the Australian Revolving Facility, and (ix) the Australian Swingline Lender shall extend credit to the Australian Borrower by way of the
Australian Swingline Facility.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The proceeds of Borrowings shall be used by the Borrowers for the purposes set out in Section 2.12 of
this Agreement, subject to the terms and conditions of this Agreement.</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: bold 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">2.2</TD><TD STYLE="text-align: justify">Notice and Revolving Nature of Borrowings</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Canadian Borrower and CMN may, subject to the terms of this Agreement, upon giving the Canadian Agent
prior written notice:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown Date or
Repayment Date for each Advance which is a SOFR Loan, SONIA Loan or Euribor Loan, as applicable;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the second (2<SUP>nd</SUP>) Business Day prior to the Drawdown Date or
Repayment Date or Acceptance Date, as the case may be, for any Borrowing or Conversion under the Canadian Revolving Facility (other than
a SOFR Loan, SONIA Loan or Euribor Loan, as applicable);</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">borrow, repay and/or reborrow or convert
in accordance with Section 2.3 under the Canadian Revolving Facility, (A) in respect of Canadian Prime Rate Loans in minimum tranches
of Cdn.$300,000, and thereafter in multiples of Cdn.$100,000 and (B) in respect of U.S. Base Rate Loans in minimum tranches of U.S.$300,000
and thereafter in multiples of U.S.$100,000, (C) in respect of Bankers&#8217; Acceptances in minimum amounts of Cdn.$1,000,000 and thereafter
in multiples of Cdn.$100,000, (D) in respect of SOFR Loans, SONIA Loans or Euribor Loans, as applicable, in minimum amounts of (1) U.S.$1,000,000
and thereafter in multiples of U.S.$100,000, (2) &pound;1,000,000 and thereafter in multiples of &pound;100,000 or (3) &#8364;1,000,000
and thereafter in multiples of &#8364;100,000; provided that repayment of SOFR Loans, SONIA Loan or Euribor Loans, as applicable, shall
be made on the last day of the applicable SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable, and the
Canadian Borrower and CMN will not be entitled to have more than an aggregate of eight (8) Loans outstanding by way of Bankers&#8217;
Acceptances and SOFR Loans, SONIA Loans or Euribor Loans, as applicable, at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Notwithstanding the provisions of this
Section 2.2(a), the Canadian Agent shall use its best efforts to make Advances by way of Canadian Prime Rate Loans under the Canadian
Revolving Facility available to the Canadian Borrower and CMN on the Business Day following the receipt by the Canadian Agent of a Drawdown
Notice for a Canadian Prime Rate Loan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">In order to facilitate the cash management requirements of the Canadian Borrower, each of the Canadian
Swingline Lenders in its capacity as a Lender agrees to make available to the Canadian Borrower its Canadian Swingline Commitment. The
Canadian Swingline Facility shall be used by the Canadian Borrower to fund amounts which would otherwise be drawn down by the Canadian
Borrower by way of Canadian Prime Rate Loans or U.S. Base Rate Loans under the Canadian Revolving Facility pursuant to Section 2.2(a)
but for such amounts not being, in the case of Canadian Prime Rate Loans, in a minimum principal amount of Cdn.$300,000 and multiples
of Cdn.$100,000 thereafter and in the case of U.S. Base Rate Loans in a minimum principal amount of U.S.$300,000 and multiples of U.S.$100,000
thereafter. Notwithstanding any other provision hereof, Drawdowns under the Canadian Swingline Facility are not subject to any minimum
amount. Any Borrowings under the Canadian Swingline Facility may be drawn down by the Canadian Borrower without notice to the Canadian
Swingline Lenders by way of presentment to the Canadian Swingline Lenders of cheques and other bills of exchange issued by the Canadian
Borrower or other online platform acceptable to the Canadian Swingline Lenders.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">At any time and from time to time in its discretion, a Canadian Swingline Lender may notify the Canadian
Agent that such Canadian Swingline Lender wishes each of the Canadian Lenders to provide its Participation in the Canadian Revolving Facility
for Advances made under the Canadian Swingline Facility, and each Canadian Lender shall thereupon provide to the Canadian Agent, for the
account of such Canadian Swingline Lender, such Canadian Lender&#8217;s Participation under the Canadian Revolving Facility; provided
however, no such Participation shall cause any such Canadian Lender to exceed its Total Canadian Commitment. The amounts so provided by
the Canadian Lenders in respect of the Canadian Swingline Facility shall be deemed to be Canadian Prime Rate Loans or U.S. Base Rate Loans
denominated in Cdn.$ or U.S.$, as the case may be, under the Canadian Revolving Facility in accordance with the provisions of this Agreement
(and for such purposes any notice provisions or minimum amounts of such Loans otherwise required under this Agreement shall be disregarded
except for the proviso of this Section 2.2(b)(ii)). The aggregate of the amounts paid by the Canadian Lenders to the Canadian Agent in
respect of the Canadian Swingline Facility shall be applied by the Canadian Swingline Lender to reduce the then outstanding Loans under
the Canadian Swingline Facility.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing (A) a Canadian Swingline Lender may, at its sole option, put all outstanding
Advances under the Canadian Swingline Facility to the Canadian Lenders, (B) in such case, the Canadian Swingline Lender will not make
further Advances under the Canadian Swingline Facility and the Canadian Swingline Commitment shall be transferred to the Canadian Revolving
Facility Commitment, and (C) the Canadian Agent will adjust amounts outstanding under the Canadian Revolving Facility pro rata to the
Total Canadian Commitment.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"></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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Canadian Borrower shall pay interest payable on Advances made under the Canadian Swingline Facility
directly to the applicable Canadian Swingline Lender; and</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Each Canadian Swingline Lender shall determine the Canadian Prime Rate or the U.S. Base Rate, as the case
may be, for Advances made under the Canadian Swingline Facility.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The U.S. Borrower may, subject to the terms of this Agreement, upon giving the U.S. Agent prior written
notice:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown Date for
each Advance which is a SOFR Loan, SONIA Loan or Euribor Loan;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the second (2<SUP>nd</SUP>) Business Day prior to the Drawdown Date or
Repayment Date, as the case may be, for any Borrowing or Conversion under the U.S. Revolving Facility (other than a SOFR Loan, SONIA Loan
or Euribor Loan, as applicable);</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 0pt 1in; text-align: justify">borrow, repay and/or reborrow or convert
in accordance with Section 2.3, under the U.S. Revolving Facility, (A) in respect of U.S. Prime Rate Loans in minimum tranches of U.S.$300,000
and thereafter in multiples of U.S.$100,000 and (B) in respect of SOFR Loans, SONIA Loans or Euribor Loans, as applicable, in minimum
amounts of (1) U.S.$1,000,000 and thereafter in multiples of U.S.$100,000, (2) &pound;1,000,000 and thereafter in multiples of &pound;100,000
or (3) &#8364;1,000,000 and thereafter in multiples of &#8364;100,000; provided that repayment of such SOFR Loan, SONIA Loan or Euribor
Loan, as applicable, shall be made on the last day of the applicable SOFR Interest Period, SONIA Interest Period or Euribor Interest Period,
as applicable, and the U.S. Borrower will not be entitled to have more than an aggregate of eight (8) SOFR Loans, SONIA Loans or Euribor
Loans, as applicable, outstanding at any time.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">In order to facilitate the Canadian Borrower&#8217;s and the U.S. Borrower&#8217;s cash management requirements,
the U.S. Swingline Lender and the U.S. Sweep Depositary, each in its capacity as a U.S. Lender, agrees to make the U.S. Swingline Facility
available to the U.S. Borrower and the U.S. Sweep to Loan Facility available to the Canadian Borrower. The U.S. Swingline Facility shall
be used by the U.S. Borrower to fund amounts which would otherwise be drawn down by the U.S. Borrower under the U.S. Revolving Facility
pursuant to Section&nbsp;2.2(c) but for such amounts not being, in a minimum principal amount of U.S.$300,000 and multiples of U.S.$100,000
thereafter. Notwithstanding any other provision hereof, Drawdowns under the U.S. Swingline Facility or the U.S. Sweep to Loan Facility
are not subject to any minimum amount. Any Borrowings under the U.S. Swingline Facility or the U.S. Sweep to Loan Facility may be drawn
down by way of U.S. Prime Rate Loans by the U.S. Borrower or the Canadian Borrower, as applicable, by providing notice to the U.S. Swingline
Lender or the U.S. Sweep Depositary, as applicable, before 3:00 p.m. on the date of the request for Drawdown.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">At any time and from time to time in its discretion, the U.S. Swingline Lender may notify the U.S. Agent
that such U.S. Swingline Lender wishes each of the U.S. Lenders to provide its Participation in the U.S. Revolving Facility for Advances
made under the U.S. Swingline Facility, in which case the U.S. Agent shall forthwith notify each of the U.S. Lenders of such Participation
and each U.S. Lender shall thereupon provide to the U.S. Agent, for the account of the U.S. Swingline Lender, such U.S. Lender&#8217;s
Participation under the U.S. Revolving Facility; provided however, no such Participation shall cause any such U.S. Lender to exceed its
Total U.S. Commitment. The amounts so provided by the U.S. Lenders in respect of the U.S. Swingline Facility shall be deemed to be U.S.
Prime Rate Loans denominated in U.S.$ under the U.S. Revolving Facility in accordance with the provisions of this Agreement (and for such
purposes any notice provisions or minimum amounts of such Loans otherwise required under this Agreement shall be disregarded except for
the proviso to this Section 2.2(d)(ii). The aggregate of the amounts paid by the U.S. Lenders to the U.S. Agent in respect of the U.S.
Swingline Facility shall be paid by the U.S. Agent to the U.S. Swingline Lender and applied by the U.S. Swingline Lender to reduce the
then outstanding Loans under the U.S. Swingline Facility.</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing (A) the U.S. Swingline Lender may, at its sole option, put all outstanding
Advances under the U.S. Swingline Facility to the U.S. Revolving Facility Lenders, (B) in such case, the U.S. Swingline Lender will not
make further Advances under the U.S. Swingline Facility and the U.S. Swingline Commitment shall be transferred to the U.S. Revolving Facility
Commitment, and (C) the U.S. Agent will adjust amounts outstanding under the U.S. Revolving Facility pro rata to the Total U.S. Commitment.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">The U.S. Borrower and the Canadian Borrower, as applicable, shall pay interest on Advances made under
the U.S. Swingline Facility and the U.S. Sweep to Loan Facility directly to the U.S. Swingline Lender or the U.S. Sweep Depositary, as
applicable; provided, however, that to the extent any such interest is due to U.S. Prime Rate Loans of U.S. Lenders made in accordance
with clause (ii) preceding, the U.S. Swingline Lender and the U.S. Sweep Depositary shall immediately upon receipt remit such funds to
the U.S. Agent which shall promptly pay such interest to such U.S. Lenders in accordance with the terms hereof for payments on U.S. Prime
Rate Loans herein.</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">The U.S. Swingline Lender and the U.S. Sweep Depositary shall determine the U.S. Prime Rate for Advances
made under the U.S. Swingline Facility and the U.S. Sweep to Loan Facility, as applicable.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The UK Borrower may, subject to the terms of this Agreement, upon giving the European Agent prior written
notice:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by not later than 8:00 a.m. (Toronto time) on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown
Date or Repayment Date for each Advance which is a SOFR Loan or SONIA Loan, as applicable;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by not later than 8:00 a.m. (Toronto time) on the second (2<SUP>nd</SUP>) Business Day prior to the Drawdown
Date or Repayment Date, as the case may be, for any Borrowing or Conversion under the UK Revolving Facility;</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 0pt 1in; text-align: justify">borrow, repay and/or reborrow or convert,
in accordance with Section 2.3 under the UK Revolving Facility, SOFR Loan or SONIA Loan, as applicable, in minimum amounts of &pound;500,000
or U.S.$500,000 and thereafter in multiples of &pound;50,000 or U.S.$50,000; provided that repayment of SOFR Loans and SONIA Loans shall
be made on the last day of the applicable SOFR Interest Period or SONIA Interest Period, as applicable, and the UK Borrower will not be
entitled to have more than an aggregate of six (6) Loans outstanding by way of SOFR Loan or SONIA Loan, as applicable, at any time.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">[intentionally deleted]</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Colliers EMEA and the Dutch Borrower may, subject to the terms of this Agreement, upon giving the European
Agent prior written notice:</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by not later than 8:00 a.m. (Toronto time) on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown
Date for each Advance which is a SOFR Loan or Euribor Loan, as applicable;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by not later than 8:00 a.m. (Toronto Time) on the second (2<SUP>nd</SUP>) Business Day prior to the Drawdown
Date or Repayment Date, as the case may be, for any Borrowing or Conversion under the Colliers EMEA Revolving Facility;</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 0pt 1in; text-align: justify">borrow, repay and/or reborrow or convert,
in accordance with Section 2.3, under the Colliers EMEA Revolving Facility, SOFR Loan or Euribor Loan, as applicable, in minimum tranches
of &#8364;500,000 or U.S.$500,000, and thereafter in multiples of &#8364;50,000 or U.S.$50,000, as applicable; provided that repayment
of SOFR Loan or Euribor Loan, as applicable, shall be made on the last day of the applicable SOFR Interest Period or Euribor Interest
Period, as applicable, and Colliers EMEA and the Dutch Borrower will not be entitled to have more than an aggregate of six (6) SOFR Loans
or Euribor Loans, as applicable, outstanding at any time.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">[intentionally deleted]</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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Australian Borrower may, subject to the terms of this Agreement, upon giving the Australian Agent
prior written notice:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown Date for
each Advance which is an Australian Bank Bill Rate Loan;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the third (3<SUP>rd</SUP>) Business Day prior to the Drawdown Date or
Repayment Date for each Advance which is a SOFR Loan based on Adjusted Term SOFR;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">by not later than 10:00 a.m. on the second (2<SUP>nd</SUP>) Business Day prior to the Drawdown Date or
Repayment Date, as the case may be, for any Borrowing or Conversion under the Australian Revolving Facility (other than an Australian
Bank Bill Rate Loan or a SOFR Loan, as applicable);</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 0pt 1in; text-align: justify">borrow, repay and/or reborrow or convert
in accordance with Section 2.3, under the Australian Revolving Facility, (A) in respect of Australian Base Rate Loans in minimum tranches
of A$300,000 and thereafter in multiples of A$100,000, (B) in respect of Australian Bank Bill Rate Loans in minimum tranches of A$1,000,000
and thereafter in multiples of A$100,000 and (C) in respect of a SOFR Loan based on Adjusted Term SOFR, in minimum amounts of U.S.$1,000,000
and thereafter in multiples of U.S.$100,000; provided that repayment of (i)&nbsp;Australian Bank Bill Rate Loans shall be made on the
last day of the applicable Australian Bank Bill Rate Interest Period and the Australian Borrower will not be entitled to have more than
an aggregate of six (6) Australian Bank Bill Rate Loans outstanding at any time, and (ii) SOFR Loans based on Adjusted Term SOFR shall
be made on the last day of the applicable SOFR Interest Period, and the Australian Borrower will not be entitled to have more than an
aggregate of four (4) Loans outstanding by way of SOFR Loans based on Adjusted Term SOFR at any time. For greater certainty, Australian
Borrower may only request SOFR Loans based on Adjusted Term SOFR.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">In order to facilitate the Australian Borrower&#8217;s cash management requirements, the Australian Swingline
Lender in its capacity as an Australian Lender agrees to make available, upon the request of the Australian Borrower and with the consent
of the Australian Swingline Lender (acting in its sole discretion), the Australian Swingline Facility to the Australian Borrower. Any
increase in the Australian Swingline Commitment must have a corresponding decrease in the Australian Revolving Facility Commitment. Following
an increase and corresponding decrease in such Commitments, Administration Agent shall make such changes as are necessary to Schedule
&#8220;H-5&#8221; to reflect such changes to the Commitments. The Australian Swingline Facility shall be used by the Australian Borrower
to fund amounts which would otherwise be drawn down by the Australian Borrower under the Australian Revolving Facility pursuant to Section
2.2(i) but for such amounts not being, in a minimum principal amount of A$300,000 and multiples of A$100,000 thereafter. Notwithstanding
any other provision hereof, Drawdowns under the Australian Swingline Facility are not subject to any minimum amount. Any Borrowings under
the Australian Swingline Facility may be drawn down by way of Australian Base Rate Loans by the Australian Borrower by providing notice
to the Australian Swingline Lender before 3:00 p.m. on the date of the request for Drawdown.</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">At any time and from time to time in its discretion, the Australian Swingline Lender may notify the Australian
Agent that the Australian Swingline Lender wishes each of the Australian Lenders to provide its Participation in the Australian Revolving
Facility for Advances made under the Australian Swingline Facility, in which case the Australian Agent shall forthwith notify each of
the Australian Lenders of such Participation and each Australian Lender shall thereupon provide to the Australian Agent, for the account
of the Australian Swingline Lender, such Australian Lender&#8217;s Participation under the Australian Revolving Facility; provided however,
no such Participation shall cause any such Australian Lender to exceed its Total Australian Commitment. The amounts so provided by the
Australian Lenders in respect of the Australian Swingline Facility shall be deemed to be Australian Base Rate Loans denominated in Australian
Dollars under the Australian Revolving Facility in accordance with the provisions of this Agreement (and for such purposes any notice
provisions or minimum amounts of such Loans otherwise required under this Agreement shall be disregarded except for the proviso to this
Section 2.2(j)(ii). The aggregate of the amounts paid by the Australian Lenders to the Australian Agent in respect of the Australian Swingline
Facility shall be paid by the Australian Agent to the Australian Swingline Lender and applied by the Australian Swingline Lender to reduce
the then outstanding Loans under the Australian Swingline Facility.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing (A) the Australian Swingline Lender may, at its sole option, put all outstanding
Advances under the Australian Swingline Facility to the Australian Lenders, (B) in such case, the Australian Swingline Lender will not
make further Advances under the Australian Swingline Facility and the Australian Swingline Commitment shall be transferred to the Australian
Revolving Facility Commitment, and (C) the Australian Agent will adjust amounts outstanding under the Australian Revolving Facility pro
rata to the Total Australian Commitment.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">The Australian Borrower shall pay interest on Advances made under the Australian Swingline Facility directly
to the Australian Swingline Lender; provided, however, that to the extent any such interest is due to Australian Base Rate Loans of Australian
Lenders made in accordance with clause (ii) preceding, the Australian Swingline Lender shall immediately upon receipt remit such funds
to the Australian Agent which shall promptly pay such interest to such Australian Lenders in accordance with the terms hereof for payments
on Australian Base Rate Loans herein; and</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">The Australian Swingline Lender shall determine the Australian Base Rate for Advances made under the Australian
Swingline Facility.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">A Swingline Lender may be replaced at any time by written agreement among the Canadian Borrower, the Administrative
Agent, the replaced Swingline Lender and the successor Swingline Lender. The Administrative Agent shall notify the Revolving Lenders of
any such replacement of a Swingline Lender. From and after the effective date of any such replacement, references herein to the term &#8220;Swingline
Lender&#8221; shall be deemed to refer to such successor or to any previous Swingline Lender, or to such successor and all previous Swingline
Lender, as the context shall require.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Subject to the appointment and acceptance of a successor Swingline Lender, any Swingline Lender may resign
as a Swingline Lender at any time upon thirty days&#8217; prior written notice to the Administrative Agent, the Canadian Borrower and
the Lenders, in which case, such resigning Swingline Lender shall be replaced in accordance with Section 2.2(k)(i) above.</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: bold 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">2.3</TD><TD STYLE="text-align: justify">Conversion</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">A Borrower may, upon giving prior written notice
to the Canadian Agent, the U.S. Agent, the Australian Agent and/or the European Agent, as the case may be, in accordance with Section
2.2(a), (c), (e), (g) or (i), as the case may be, containing the information set out in Schedule &#8220;D&#8221; effective on any Business
Day during the term of this Agreement (a &#8220;<B>Conversion</B>&#8221;), convert on the Conversion Date Advances outstanding from one
Type to another Type to the extent such Type is available hereunder and under the applicable Revolving Facility, provided that:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a SOFR Loan, a SONIA Loan or a Euribor Loan, as applicable, may be converted to another Type only on the
last day of the SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable, applicable to that SOFR Loan, SONIA
Loan or Euribor Loan, as applicable;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">an Australian Bank Bill Rate Loan may be converted to another Type only on the last day of the Australian
Bank Bill Rate Interest Period applicable to that Australian Bank Bill Rate Loan;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Borrowings or any portion thereof comprising Bankers&#8217; Acceptances may be converted to another Type
only on the applicable B/A Maturity Date; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the conditions precedent set out in Section 5.1 have been fulfilled.</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">The Conversion of any Advances shall not reduce
any amount available under the Total Commitments.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Making Borrowings</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">If the Canadian Borrower or CMN gives prior written notice, in the form set out in Schedule &#8220;E&#8221;,
to the Canadian Agent of its intention to draw down a Borrowing under the Canadian Revolving Facility, including Bankers&#8217; Acceptances,
a Canadian Prime Rate Loan, a U.S. Base Rate Loan, a SOFR Loan, a SONIA Loan or a Euribor Loan, as applicable, or a Conversion in accordance
with Section 2.2(a) or 2.3, the Canadian Agent shall on the same day it receives the notice notify each Canadian Lender by telephone or
in writing of the amount of the Canadian Prime Rate Loan, U.S. Base Rate Loan, SOFR Loan, SONIA Loan or Euribor Loan, as applicable, or
Bankers&#8217; Acceptance and such Canadian Lender&#8217;s portion thereof, and</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Canadian Lender shall, not later than 12:00 noon on the Drawdown Date, make, or procure to be made,
its Participation in such Bankers&#8217; Acceptances, Canadian Prime Rate Loan, SOFR Loan, SONIA Loan, Euribor Loan or U.S. Base Rate
Loan, as the case may be, available to the Canadian Agent in accordance with Article&nbsp;10; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Canadian Agent, shall on the Drawdown Date, make such Bankers&#8217; Acceptances, Canadian Prime Rate
Loan, SOFR Loan, SONIA Loan or Euribor Loan, or U.S. Base Rate Loan, as the case may be, available to the Canadian Borrower or CMN, as
applicable, in accordance with Article&nbsp;10.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If a U.S. Borrower gives prior written notice, in the form set out in Schedule &#8220;E&#8221;, to the
U.S. Agent of its intention to draw down a Borrowing under the U.S. Revolving Facility, including a U.S. Prime Rate Loan or a SOFR Loan,
SONIA Loan or Euribor Loan, or a Conversion of a U.S. Prime Rate Loan or a SOFR Loan, SONIA Loan or Euribor Loan in accordance with Section
2.2(c) or 2.3, the U.S. Agent shall on the same day it receives the notice notify each U.S. Lender by telephone or in writing of the amount
of the SOFR Loan, SONIA Loan or Euribor Loan and such U.S. Lender&#8217;s portion thereof, and</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each U.S. Lender shall, not later than 12:00 noon on the Drawdown Date, make, or procure to be made, its
Participation in such U.S. Prime Rate Loan, SOFR Loan, SONIA Loan or Euribor Loan, as the case may be, available to the U.S. Agent in
accordance with Article&nbsp;10; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the U.S. Agent shall, on the Drawdown Date, make such U.S. Prime Rate Loan, SOFR Loan, SONIA Loan or Euribor
Loan, as the case may be, available to the U.S. Borrower, in accordance with Article&nbsp;10.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">If the UK Borrower gives prior written notice, in the form set out in Schedule &#8220;E&#8221;, to the
European Agent of its intention to draw down a Borrowing under the UK Revolving Facility, including a SOFR Loan or SONIA Loan, as applicable,
or a Conversion in accordance with Section 2.2(e) or 2.3, the European Agent shall on the same day it receives the notice notify each
UK Lender by telephone or in writing of the amount of the SOFR Loan or SONIA Loan, as applicable, and such UK Lender&#8217;s portion thereof,
and</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each UK Lender shall, not later than 9:00 a.m. (Toronto time) on the Drawdown Date, make, or procure to
be made, its Participation in such SOFR Loan or SONIA Loan, as applicable, available to the European Agent in accordance with Article&nbsp;10;
and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the European Agent shall, on the Drawdown Date, make such SOFR Loan or SONIA Loan, as applicable, available
to the UK Borrower, in accordance with Article&nbsp;10.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">If Colliers EMEA or the Dutch Borrower gives prior written notice, in the form set out in Schedule &#8220;E&#8221;,
to the European Agent of its intention to draw down a Borrowing under the Colliers EMEA Revolving Facility, including a SOFR Loan or Euribor
Loan, as applicable, or a Conversion of a SOFR Loan or Euribor Loan, as applicable, in accordance with Section 2.2(g) or 2.3, the European
Agent shall on the same day it receives the notice notify each Colliers EMEA Lender by telephone or in writing of the amount of the SOFR
Loan or Euribor Loan, as applicable, and such Colliers EMEA Lender&#8217;s portion thereof, and</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Colliers EMEA Lender shall, not later than 9:00 a.m. (Toronto time) on the Drawdown Date, make, or
procure to be made, its Participation in such SOFR Loan or Euribor Loan, as applicable, available to the European Agent in accordance
with Article&nbsp;10; and</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the European Agent shall, on the Drawdown Date, make such SOFR Loan or Euribor Loan, as applicable, available
to Colliers EMEA or the Dutch Borrower, as applicable, in accordance with Article&nbsp;10.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">If the Australian Borrower gives prior written notice, in the form set out in Schedule &#8220;E&#8221;,
to the Australian Agent of its intention to draw down a Borrowing under the Australian Revolving Facility, including an Australian Base
Rate Loan, an Australian Bank Bill Rate Loan or a SOFR Loan, as applicable, or a Conversion of an Australian Base Rate Loan, an Australian
Bank Bill Rate Loan or a SOFR Loan, as applicable, in accordance with Section 2.2(i) or 2.3, the Australian Agent shall on the same day
it receives the notice notify each Australian Lender by telephone or in writing of the amount of the Australian Base Rate Loan, Australian
Bank Bill Rate Loan, SOFR Loan, as applicable, and such Australian Lender&#8217;s portion thereof, and</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Australian Lender shall, not later than 12:00 noon on the Drawdown Date, make, or procure to be made,
its Participation in such Australian Base Rate Loan, Australian Bank Bill Rate Loan or SOFR Loan, as the case may be, available to the
Australian Agent in accordance with Article&nbsp;10; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Australian Agent shall, on the Drawdown Date, make such Australian Base Rate Loan, Australian Bank
Bill Rate Loan or SOFR Loan, as the case may be, available to the Australian Borrower, in accordance with Article&nbsp;10.</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: bold 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">2.5</TD><TD STYLE="text-align: justify">Participation of Each Lender; Defaulting Lender</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Canadian Agent is authorized by the Canadian Borrower and each Canadian Lender to allocate amongst
the Canadian Lenders the Bankers&#8217; Acceptances to be issued and purchased in such manner and amounts as the Canadian Agent may, in
its sole and unfettered discretion consider necessary and equitable, rounding up or down, so as to ensure that no Canadian Lender is required
to accept and purchase a Bankers&#8217; Acceptance for a fraction of Cdn.$100,000; provided however the Canadian Agent shall seek to allocate
such Bankers&#8217; Acceptances in such amounts and for such terms, over time, as to maintain the Participations of all such Canadian
Lenders in substantially the relative amounts and percentages set out on Schedule &#8220;H&#8221;. To the extent, if any, necessary to
maintain each such Participation as the result of the foregoing, the Canadian Agent shall allocate a lesser or greater amount of other
Advances to each Canadian Lender.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">At the time of making any Loan, the Canadian Agent, the U.S. Agent, the European Agent or the Australian
Agent, as the case may be, shall, if appropriate, re-allocate amounts made available to the Borrowers under any of the Loans to give effect
to the Participation of each Lender, determined immediately prior to the making of a Loan.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">For purposes of determining Lenders&#8217; obligations to fund or participate in Borrowings, the Administration
Agent may exclude the Commitments, Loans and Banker&#8217;s Acceptance of any Defaulting Lender from the calculation of Participation.
A Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of this Agreement or the Continuing Guarantees,
except as provided in Section&nbsp;13.8(a), (b), (c) and (h).</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The Administration Agent may, in its discretion, receive and retain any amounts payable to a Defaulting
Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to the Administration Agent such amounts until
all Borrowings and indebtedness owing to the Administration Agent, non-Defaulting Lenders and other Lenders and Issuing Bank have been
paid in full. The Administration Agent may apply such amounts to the Defaulting Lender&#8217;s defaulted obligations, use the funds to
cash collateralize such Lender&#8217;s Letter of Credit obligations, or readvance the amounts to Borrowers hereunder. A Lender shall not
be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender, and the unfunded portion of its
Commitment shall be disregarded for purposes of calculating the Commitment Fee. If any Letter of Credit obligation owing to a Defaulting
Lender is reallocated to other Lenders, fees attributable to such Letter of Credit obligations shall be paid to such Lenders. Notwithstanding
anything to the contrary in this Section, the Letter of Credit obligations owing to a Defaulting Lender may be reallocated to the other
Lenders only to the extent that such reallocation does not cause the exposure, as applicable, of any non&#45;Defaulting Lender to exceed
such non-Defaulting Lender&#8217;s Commitment. The Administration Agent shall be paid all fees attributable to Letter of Credit obligations
that are not reallocated.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">If any Borrowings are outstanding under a Swingline Facility at the time a Lender becomes a Defaulting
Lender then:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">all or any part of the outstanding Swingline Facility, of which the Defaulting Lender would be required
to participate in, shall be reallocated among the non&#45;Defaulting Lenders in the applicable Revolving Facility in accordance with their
respective Participations but only to the extent the sum of all non&#45;Defaulting Lenders&#8217; total exposure <I><U>plus</U></I> such
Defaulting Lenders&#8217; Swingline Facility exposure does not exceed the total of all non&#45;Defaulting Lenders&#8217; Commitments;
or</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrowers
shall within one (1) Business Day following notice by the Administration Agent first, repay such Defaulting Lender&#8217;s Swingline Facility
exposure.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">If a Defaulting Lender exists, the Canadian Swingline Lender, the U.S. Swingline Lender, the U.S. Sweep
Depositary or the Australian Swingline Lender, as applicable, shall not be required to fund the applicable Swingline Facility, unless
the Canadian Swingline Lender, the U.S. Swingline Lender, the U.S. Sweep Depositary or the Australian Swingline Lender, as applicable,
shall have entered into arrangements with the Borrowers or such Lender, satisfactory to the Canadian Swingline Lender, the U.S. Swingline
Lender, the U.S. Sweep Depositary or the Australian Swingline Lender, as applicable, as the case may be, to defease any risk in respect
of such Lender hereunder.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Borrowers, the Administration Agent and applicable Issuing Bank may agree in writing that a Lender is
no longer a Defaulting Lender. At such time, Participation shall be reallocated without exclusion of such Lender&#8217;s Commitment and
Loans, and all outstanding Loans, Letter of Credit obligations and other exposures under the Commitments shall be reallocated among Lenders
and settled by the Administration Agent (with appropriate payments by the reinstated Lender) in accordance with the readjusted Participation.
Unless expressly agreed by Borrowers, the Administration Agent and applicable Issuing Bank, no reinstatement of a Defaulting Lender shall
constitute a waiver or release of claims against such Lender. The failure of any Lender to fund a Loan, to make a payment in respect of
Letter of Credit obligations or otherwise to perform its obligations hereunder shall not relieve any other Lender of its obligations,
and no Lender shall be responsible for default by another Lender.</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: bold 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">2.6</TD><TD STYLE="text-align: justify">Bankers&#8217; Acceptances and Existing Euribor Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each Banker&#8217;s Acceptance tendered by the Canadian Borrower or CMN for acceptance by a Canadian Lender
under the Canadian Revolving Facility shall be denominated in Canadian Dollars and be payable in Canada. The Canadian Borrower and CMN
acknowledge that the Canadian Lenders may require the delivery of drafts which are in conformity with the rules and procedures of a clearing
house (as that term is defined in the <I>Depository Bills and Notes Act</I> (Canada)) used by the Canadian Lenders for the delivery, transfer
and collection of bankers&#8217; acceptances and depository bills.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Borrower shall provide for each accepted draft at its maturity to the Canadian Agent either by payment
of the full principal amount thereof or through utilization of the Canadian Revolving Facility in accordance with this Agreement or through
a combination thereof. Neither the Canadian Borrower nor CMN may at any time request that any Bankers&#8217; Acceptance be issued if the
face amount of such requested Bankers&#8217; Acceptance together with the aggregate of the other outstanding Loans under the Canadian
Revolving Facility, would exceed the amount available to be Drawdown under the Canadian Revolving Facility at such time. Any amount owing
by the Canadian Borrower or CMN in respect of any Bankers&#8217; Acceptance which is not paid or provided for in accordance with the foregoing
shall be deemed to be a Canadian Prime Rate Loan owing by it to the Canadian Lenders and shall be subject to all of the provisions of
this Agreement applicable to a Canadian Prime Rate Loan. Each of the Canadian Borrower and CMN hereby authorizes the Canadian Lenders
to debit its account by the amount required to pay any such drafts made by it and accepted as a Bankers&#8217; Acceptance hereunder which
is not otherwise paid.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">If an Event of Default shall have occurred and shall then be continuing unremedied not waived by the Lenders
(whether or not demand is made), the Canadian Borrower and CMN shall forthwith pay to the Canadian Agent an amount equal to the Canadian
Lender&#8217;s maximum potential liability under all such outstanding Bankers&#8217; Acceptances. Such amount shall be held by the Canadian
Agent as general and continuing cash collateral for payment of the indebtedness and liability of the Canadian Borrower and CMN to the
Canadian Lenders in respect of such Bankers&#8217; Acceptances and any other obligations to the Canadian Lenders.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">To facilitate the acceptance of Bankers&#8217; Acceptances hereunder, each of the Canadian Borrower and
CMN hereby authorizes the Canadian Lenders and irrevocably appoints the Canadian Lenders as its attorney:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to complete and sign on its behalf, either manually or by facsimile or mechanical signature, the drafts
to create the Bankers&#8217; Acceptances (with, in the Canadian Lender&#8217;s discretion, the inscription &#8220;This is a depository
bill subject to the <I>Depository Bills and Notes Act</I> (Canada))&#8221;;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">after the acceptance thereof by the applicable Canadian Lender, to endorse on its behalf, either manually
or by facsimile or mechanical signature, such Bankers&#8217; Acceptances in favour of the applicable purchaser or endorsee thereof including,
in the Canadian Lender&#8217;s discretion, the Canadian Lender or a clearing house (as defined by the <I>Depository Bills and Notes Act</I>
(Canada));</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">to deliver such Bankers&#8217; Acceptances to such purchaser or to deposit such Bankers&#8217; Acceptances
with such clearing house; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">to comply with the procedures and requirements established from time to time by the Canadian Lenders or
such clearing house in respect of the delivery, transfer and collection of bankers&#8217; acceptances and depository bills.</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">All Bankers&#8217; Acceptances so completed, signed,
endorsed, delivered or deposited by a Canadian Lender on behalf of the Canadian Borrower or CMN shall be binding upon the Canadian Borrower
or CMN, as the case may be, as if completed, signed, endorsed, delivered or deposited by it. The records of the Canadian Lenders and such
clearing house shall, in the absence of manifest error, be conclusively binding on the Canadian Borrower and CMN. The Lenders shall not
be liable for any claim arising by reason of any loss or improper use of such drafts or Bankers&#8217; Acceptances except for damages
suffered by the Canadian Borrower or CMN caused by the intentional misconduct or gross negligence of a Canadian Lender.</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Borrowers shall not claim any days of grace for the payment at maturity of any drafts presented and
accepted as Bankers&#8217; Acceptances hereunder.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">When the Canadian Borrower or CMN wishes to make a Borrowing by way of Bankers&#8217; Acceptances it shall
give the Canadian Agent the notice required pursuant to Section 2.2. Bankers&#8217; Acceptances shall have terms of at least one (1) month
and not more than three (3) months excluding days of grace (and which shall, in no event, end on a date after the Final Maturity Date)
or any other term subject to market availability.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">On the same day it receives such notice, the Canadian Agent shall notify by telephone or in writing all
the Canadian Lenders of the details of the proposed issue, specifying, for each Canadian Lender:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Principal Amount of the Bankers&#8217; Acceptances to be accepted and purchased by such Canadian Lender;
and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the term of such Bankers&#8217; Acceptances.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">Whenever the Canadian Borrower or CMN requests a borrowing by way of Bankers&#8217; Acceptances, each
Non BA Lender shall, in lieu of accepting and purchasing any B/As, make a Loan (a &#8220;<B>BA Equivalent Loan</B>&#8221;) to the Canadian
Borrower or CMN, as the case may be, in the amount and for the same term as each draft which such Lender would otherwise have been required
to accept and purchase hereunder. Each such Lender will provide to the Canadian Agent the amount of Available Proceeds of such BA Equivalent
Loan for the account of the Canadian Borrower or CMN, as the case may be, in the same manner as such Lender would have provided the Available
Proceeds in respect of the B/As which such Lender would otherwise have been required to accept and purchase hereunder. Each such BA Equivalent
Loan will bear interest at the same rate that would result if such Lender had accepted (and been paid an Acceptance Fee) and purchased
(on a discounted basis) a B/A for the relevant period (it being the intention of the parties that each such BA Equivalent Loan shall have
the same economic consequences for the relevant Lenders and the Canadian Borrower or CMN, as the case may be, as the B/A that such BA
Equivalent Loan replaces). All such interest shall be paid in advance on the date such BA Equivalent Loan is made, and will be deducted
from the principal amount of such BA Equivalent Loan in the same manner in which the discounted portion of a B/A would be deducted from
the face amount of the B/A. Subject to the repayment requirements of this Agreement, on the B/A Maturity Date for such BA Equivalent Loan,
the Canadian Borrower and CMN shall be entitled to convert each such BA Equivalent Loan into another type of Loan, or to roll over each
such BA Equivalent Loan into another BA Equivalent Loan, all in accordance with the applicable provisions of this Agreement. Each Non
BA Lender may, at its discretion, request in writing to the Canadian Administration Agent and the Canadian Borrower that BA Equivalent
Loans made by it shall be evidenced by Discount Notes.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">For greater certainty, all provisions of this Agreement that are applicable to Bankers&#8217; Acceptances
shall also be applicable, <U>mutatis mutandis</U>, to BA Equivalent Loans, and notwithstanding any other provision of this Agreement,
all references to principal amounts or any repayment or prepayment of any Loans that are applicable to Bankers&#8217; Acceptances shall
be deemed to refer to the full face amount thereof in the case of B/As and to the principal amount of any portion thereof consisting of
BA Equivalent Loans. &#8220;Bankers&#8217; Acceptances&#8221; includes Discount Notes and all terms of this Agreement applicable to Bankers&#8217;
Acceptances (including the provisions of Section 2.6(d) relating to their execution by the Canadian Lenders under power of attorney) shall
apply equally to Discount Notes evidencing BA Equivalent Loans with such changes as may in the context be necessary. For greater certainty:</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the term of a Discount Note shall be the same as the B/A Maturity Date for B/As accepted and purchased
on the same Borrowing date in respect of the same borrowing;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">an Acceptance Fee will be payable in respect of a Discount Note and shall be calculated at the same rate
and in the same manner as the Acceptance Fee in respect of a B/A; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the BA Discount Rate applicable to a Discount Note shall be the BA Discount Rate applicable to Bankers&#8217;
Acceptances accepted by a Canadian Lender that is not a Schedule I Lender in accordance with the definition of &#8220;BA Discount Rate&#8221;
on the same Borrowing date or date of continuation or Conversion, as the case may be, in respect of the same borrowing for the relevant
period.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">The parties hereto acknowledge and confirm that (i) the B/A Maturity Dates, with respect to Existing B/As,
remain un-amended under this Agreement, and (ii) notwithstanding that each Lender&#8217;s Commitment under the First Amended and Restated
Credit Agreement may not equal its Commitment under this Agreement, each Lender&#8217;s pro rata share of Existing B/As under the First
Amended and Restated Credit Agreement shall remain identical to such pro rata share until the B/A Maturity Dates with respect to such
Existing B/As expire.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">The parties hereto acknowledge and confirm that (i) the Euribor Interest Period with respect to existing
Euribor Loans remains unamended under this Agreement, and (ii) notwithstanding that each Lender&#8217;s Commitment under the Second Amended
and Restated Credit Agreement may not equal its Commitment under this Agreement, each Lender&#8217;s pro rata share of existing Euribor
Loans under the Second Amended and Restated Credit Agreement shall remain identical to such pro rata share until the expiry of the Euribor
Interest Period with respect to such Euribor Loans.</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: bold 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">2.7</TD><TD STYLE="text-align: justify">Acceptance Date Procedure</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">On the Acceptance Date, the following provisions
shall apply:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">At or about 10:00 a.m. on the Acceptance Date, the Canadian Agent shall promptly determine the BA Discount
Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Forthwith that same day, the Canadian Agent shall advise each Canadian Lender of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the BA Discount Rate;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the amount of the Acceptance Fee applicable to those Bankers&#8217; Acceptances to be accepted by such
Canadian Lender on such Acceptance Date, such Canadian Lender being authorized by the Canadian Borrower and CMN to collect such Acceptance
Fee out of the Net Proceeds of those Bankers&#8217; Acceptances mentioned in subsection (iii);</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the Net Proceeds of those Bankers&#8217; Acceptances to be accepted and purchased by such Canadian Lender
on such Acceptance Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">the amount obtained (the &#8220;<B>Available Proceeds</B>&#8221;) by subtracting the Acceptance Fee mentioned
in subsection (ii) from the Net Proceeds mentioned in subsection (iii).</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Not later than 12:00 noon that same day, each Canadian Lender shall make available to the Canadian Agent
its Available Proceeds.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">That same day, the Canadian Agent shall transfer all such Available Proceeds so made available to it to
the Canadian Borrower or CMN in accordance with Section 10.3 and shall notify the Canadian Borrower or CMN, as the case may be, on such
day either by telephone (to be confirmed subsequently by letter) of the details of the issue, substantially in the form set out in Schedule
&#8220;F&#8221;.</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: bold 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">2.8</TD><TD STYLE="text-align: justify">Purchase of Bankers&#8217; Acceptances</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">Before giving value to the Canadian Borrower or
CMN, as the case may be, the Canadian Lenders shall, on the Acceptance Date, accept the Bankers&#8217; Acceptances, by inserting the appropriate
Principal Amount, Acceptance Date and maturity date thereof in accordance with the notice relating thereto and affixing the acceptance
stamps thereto, and shall purchase same. The Principal Amount so accepted and purchased by any such Canadian Lender shall not exceed such
Canadian Lender&#8217;s unutilized Commitment.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.9</TD><TD STYLE="text-align: justify">Payment of Bankers&#8217; Acceptances</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">The Bankers&#8217; Acceptances shall be payable
in accordance with the following provisions:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each of the Canadian Borrower and CMN shall pay to the Canadian Agent for the account of the Canadian
Lenders an amount equal to the Principal Amount of the Bankers&#8217; Acceptances on their respective B/A Maturity Dates.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">In the event the Canadian Borrower or CMN fails to notify the Canadian Agent, in writing, not later than
10:00 a.m. (such notice, if verbal, to be confirmed to the Canadian Agent in writing later the same day, but not necessarily by 10:00
a.m.), two (2) Business Days prior to any B/A Maturity Dates of a Bankers&#8217; Acceptance, that it intends to pay with its own funds
the Principal Amount of the Bankers&#8217; Acceptances due on such B/A Maturity Dates, it shall be deemed, for all purposes, to have given
the Canadian Agent notice to convert the Principal Amount of such Bankers&#8217; Acceptances into a Canadian Prime Rate Loan denominated
in Cdn.$ and the provisions of Section 2.3 shall apply mutatis mutandis save that:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">such B/A Maturity Date shall be considered to be the Drawdown Date of such Canadian Prime Rate Loan;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the proceeds of such Canadian Prime Rate Loan shall be used to pay the Principal Amount of the Bankers&#8217;
Acceptances due on such B/A Maturity Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">on such B/A Maturity Date, each Canadian Lender, instead of making its Participation in such Canadian
Prime Rate Loan available to the Canadian Agent, shall first directly apply its Participation in such Canadian Prime Rate Loan in payment
of its Participation in the Principal Amount of the Bankers&#8217; Acceptances accepted, purchased and issued by such Canadian Lender
and due on such B/A Maturity 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 CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">2.10</TD><TD STYLE="text-align: justify">Set-Off and Netting</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">On any Acceptance Date, Drawdown Date or Repayment
Date, the Canadian Agent, the U.S. Agent. the European Agent or the Australian Agent, as the case may be, shall be entitled to set-off
and net amounts payable on such date by the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may
be, to a Lender for the account of any Borrower against amounts payable on such date by such Lender to the Canadian Agent, the U.S. Agent,
the European Agent or the Australian Agent, as the case may be, in connection with transactions conducted in the same basis of borrowing,
for the account of such Borrower. Similarly, on any Acceptance Date, Drawdown Date or Repayment Date, each Lender shall be entitled to
set-off and to net amounts payable on such date by such Lender to a Borrower (by payment to the Canadian Agent, the U.S. Agent, the European
Agent or the Australian Agent, as the case may be), against amounts payable on such date by such Borrower to such Lender, in accordance
with the Canadian Agent&#8217;s, the U.S. Agent&#8217;s, the European Agent&#8217;s or the Australian Agent&#8217;s, as the case may be,
calculations. All amounts received by a Lender pursuant to its exercise of set-off or netting pursuant to this Section 2.10 shall be shared
rateably with the other Lenders.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.11</TD><TD STYLE="text-align: justify">Letters of Credit</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Subject to the notice provisions of Sections 2.2 and 2.3 and upon the terms and subject to the conditions
hereof, the applicable Issuing Bank shall, at the request of a Borrower, issue under the applicable Revolving Facility one or more irrevocable
Letters of Credit (in Dollars or Cdn. Dollars (in respect of the Canadian Borrower and CMN), Dollars (in respect of the U.S. Borrower),
Sterling (in respect of the UK Borrower), Euros or Dollars (in respect of Colliers EMEA and the Dutch Borrower) and Australian Dollars
and Dollars (in respect of the Australian Borrower)) in such Issuing Bank&#8217;s usual form (or such other form as may be required by
such Borrower and is acceptable to the Issuing Bank acting reasonably), expiring no later than, in the case of Standby Letters of Credit,
365 days from the date of issuance and, in the case of Trade Letters of Credit, 270 days from the date of issuance. If a Letter of Credit
is set to expire beyond the Final Maturity Date, the Borrowers shall pledge to, and deposit with, the Agent cash collateral equal to the
face amount of such Letters of Credit, plus all fees, prior to the termination of this Agreement. The maximum amount payable under all
Letters of Credit shall not, at the time of issue of each Letter of Credit, exceed (i) U.S.$80,000,000 (with respect to Letters of Credit
issued at the request of the U.S. Borrower) (the &#8220;<B>U.S. Borrower LC Sublimit</B>&#8221;), and (ii) U.S.$20,000,000, or the Equivalent
Amount thereof in the applicable approved currency (with respect to Letters of Credit issued at the request of the Canadian Borrower,
CMN, UK Borrower, Colliers EMEA, the Dutch Borrower and Australian Borrower) (the &#8220;<B>Applicable Foreign Borrower LC Sub-limit</B>&#8221;
and, together with the U.S. Borrower LC Sublimit, the &#8220;<B>Total LC Sublimit</B>&#8221;). Subject to Section 2.15 hereof, the Canadian
Borrower may, with 30 days prior written notice, require that the Administration Agent reallocate any amounts which are available under
the Total LC Sub-limit between the U.S. Borrower LC Sublimit and the Applicable Foreign Borrower LC Sublimit, provided, however, that
any increase to the exposure of an Issuing Bank that may be requested as a result of a reallocation shall be at the sole discretion of
such Issuing Bank. Issuing Bank shall have no obligation to issue any Letter of Credit unless (i) each condition above is satisfied; and
(ii) if a Defaulting Lender exists, Borrowers have entered into arrangements satisfactory to Agent and Issuing Bank to eliminate any funding
risk associated with such Defaulting Lender.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Notwithstanding anything herein to the contrary, the Issuing Bank shall have no obligation hereunder to
issue, and shall not issue, any Letter of Credit (i) the proceeds of which would be made available to any Person (A) to fund any activity
or business of or with any Sanctioned Person, or in any country or territory that, at the time of such funding, is the subject of any
Sanctions or (B) in any manner that would result in a violation of any Sanctions by any party to this Agreement, or any Subsidiary of
such party(ii) if any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain
the Issuing Bank from issuing such Letter of Credit, or any requirement of law relating to the Issuing Bank or any request or directive
(whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall prohibit, or request
that the Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose
upon the Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Bank
is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the Issuing Bank any unreimbursed loss,
cost or expense which was not applicable on the Effective Date and which the Issuing Bank in good faith deems material to it, or (iii)
if the issuance of such Letter of Credit would violate one or more policies of the Issuing Bank applicable to letters of credit generally;
provided that, notwithstanding anything herein to the contrary, (x) the <I>Dodd-Frank Wall Street Reform and Consumer Protection Act</I>
and all requests, rules, guidelines, requirements or directives thereunder or issued in connection therewith or in the implementation
thereof, and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the
Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities,
in each case pursuant to Basel III, shall in each case be deemed not to be in effect on the Effective Date for purposes of clause (ii)
above, regardless of the date enacted, adopted, issued or implemented.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"></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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">In the event that an Issuing Bank is called upon by a beneficiary to honour a Letter of Credit issued
by such Issuing Bank, such Issuing Bank shall forthwith give notice thereof to the applicable Borrower. Unless such Borrower has made
other arrangements with the Issuing Bank with respect to payment to the Issuing Bank of an amount sufficient to permit the Issuing Bank
to discharge its obligations under the Letter of Credit plus that amount equal to any and all charges and expenses which the Issuing Bank
may pay or incur relative to such Letter of Credit, any such payment so payable:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">in Canadian Dollars with respect to the Canadian Revolving Facility shall be deemed to be a Drawdown of
a Canadian Prime Rate Loan under the Canadian Revolving Facility,</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">in U.S. Dollars with respect to a Letter of Credit issued on behalf of the Canadian Borrower or CMN shall
be deemed to be a Drawdown by way of a U.S. Base Rate Loan under the Canadian Revolving Facility,</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">with respect to a Letter of Credit issued on behalf of the U.S. Borrower shall be deemed to be a Drawdown
by way of a U.S. Prime Rate Loan under the U.S. Revolving Facility,</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">with respect to a Letter of Credit issued on behalf of the UK Borrower shall be deemed to be a Drawdown
by way of a SOFR Loan or SONIA Loan, as applicable, in Sterling, under the UK Revolving Facility,</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: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">with respect to a Letter of Credit issued on behalf of Colliers EMEA or the Dutch Borrower shall be deemed
to be a Drawdown by way of a Euribor Loan or a SOFR Loan in Euros or Dollars, under the Colliers EMEA Revolving Facility, and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">with respect to a Letter of Credit issued on behalf of the Australian Borrower shall be deemed to be (i)
in respect of Letters of Credit issued in Australian Dollars, a Drawdown by way of an Australian Base Rate Loan, in Australian Dollars,
under the Australian Revolving Facility, and (ii) in respect of Letters of Credit issued in Dollars, a Drawdown by way of a SOFR Loan
in Dollars, under the Australian Revolving Facility.</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Each Borrower&#8217;s obligation to reimburse disbursements as provided in paragraph (b)(i) of this Section
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under
any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement,
or any term or provision therein or herein, (ii) any draft or other document presented under a Letter of Credit proving to be forged,
fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) any payment by the Issuing
Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of
Credit, or (iv) any other event or circumstance whatsoever (other than payment or performance), whether or not similar to any of the foregoing,
that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Applicable Borrowers&#8217; obligations hereunder. None of the Agents, the Revolving Lenders, the Issuing Bank or any of their related
parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit
or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence),
or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating
to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms
or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse
the Issuing Bank from liability to the Borrowers to the extent of any direct damages (as opposed to special, indirect, consequential or
punitive damages, claims in respect of which are hereby waived by the Borrowers to the extent permitted by Applicable Law) suffered by
any Borrower that are caused by the Issuing Bank&#8217;s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence
or willful misconduct on the part of an Issuing Bank (as finally determined by a court of competent jurisdiction), such Issuing Bank shall
be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof,
the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms
of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility
for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents
if such documents are not in strict compliance with the terms of such Letter of Credit.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Any Issuing Bank shall notify the Canadian Agent, the U.S. Agent, the European Agent or the Australian
Agent, as the case may be, of each issuance or amendment of any Letter of Credit two (2) Business Days prior to the day upon which such
issuance or amendment occurs and the Issuing Bank shall provide the Canadian Agent, the U.S. Agent, the European Agent or the Australian
Agent, as the case may be, and to the Administration Agent in all circumstances, with monthly reports setting out the face amount of Letters
of Credit outstanding on each day of the preceding month. Each of the Lenders, other than an Issuing Bank, shall be deemed to have purchased
from such Issuing Bank its Participation of the face amount of each Letter of Credit issued by such Issuing Bank. Each of the Canadian
Lenders agrees to indemnify the Issuing Bank issuing Letters of Credit under the Canadian Facilities, each of the U.S. Lenders agrees
to indemnify the Issuing Bank issuing Letters of Credit under the U.S. Facilities, each of the UK Lenders agrees to indemnify the Issuing
Bank issuing Letters of Credit under the UK Revolving Facility, each of the Colliers EMEA Lenders agrees to indemnify the Issuing Bank
issuing Letters of Credit under the Colliers EMEA Revolving Facility and each of the Australian Lenders agrees to indemnify the Issuing
Bank issuing Letters of Credit under the Australian Facilities, in each case as to such Lender&#8217;s Participation of any amount paid
by the Issuing Bank under any Letter of Credit plus that amount equal to any and all payments, losses, costs, charges and expenses which
such Issuing Bank may pay or incur relative to such Letter of Credit, except to the extent due to the gross negligence or wilful misconduct
of such Issuing Bank as determined by a court of competent jurisdiction in a final judgment.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Each Borrower for which a Letter of Credit has been issued on its behalf shall pay to the Canadian Agent,
the U.S. Agent, the European Agent or the Australian Agent, as the case may be, for the account of the Canadian Lenders, the U.S. Lenders,
the UK Lenders, the Colliers EMEA Lenders and the Australian Lenders, as the case may be, each month that Letters of Credit issued on
behalf of such Borrower are outstanding, the applicable Letter of Credit Fee and the applicable Agent shall promptly pay such fees to
such Lenders in accordance with the terms hereof.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Each Borrower for which a Letter of Credit has been issued on its behalf shall pay to the applicable Issuing
Bank, sundry charges and out-of-pocket expenses payable in respect of Letters of Credit which the Issuing Bank issues pursuant to a request
of such Borrower.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The parties hereto acknowledge and agree that the Existing Letters of Credit which were issued under the
Second Amended and Restated Credit Agreement shall be deemed to be Letters of Credit issued under this Agreement for all purposes hereunder.</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: bold 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">2.12</TD><TD STYLE="text-align: justify">Use of Proceeds</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">The Borrowers shall only use the Facilities to
finance acquisitions of Eligible Businesses (other than any acquisition by way of a hostile takeover), for working capital needs, for
Capital Expenditures and for general corporate purposes, all in accordance with the terms of this Agreement.</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">No Borrower will request any Borrowing or Letter
of Credit, and no Borrower shall use, and each Borrower shall procure that its Subsidiaries and its and their respective directors, officers,
employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (a) in furtherance of an offer, payment, promise
to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption
Laws, (b) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person,
or in any Sanctioned Country, or (c)&nbsp;in any manner that would result in the violation of any Sanctions applicable to any party hereto
or any Subsidiary of such party.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.13</TD><TD STYLE="text-align: justify">Incremental Facility</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Borrowers shall have the right to increase the U.S. Revolving Facility Commitments, the Canadian Revolving
Facility Commitments, the UK Revolving Facility Commitments, the Australian Revolving Facility Commitments and/or the Colliers EMEA Revolving
Facility Commitments by obtaining additional U.S. Revolving Facility Commitments, Canadian Revolving Facility Commitments, UK Revolving
Facility Commitments, Australian Revolving Facility Commitments and/or the Colliers EMEA Revolving Facility Commitments (the &#8220;<B>Incremental
Facility</B>&#8221;), either from one or more of the Lenders or another lending institution; provided that:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any such request for an increase shall be in a minimum amount of $25,000,000;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Canadian Borrower, on behalf of the Borrowers, may make a maximum of two (2) such requests;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">after giving effect thereto, the sum of the total of the additional Commitments does not exceed U.S.$250,000,000;</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">the Administration Agent has approved any such new lending institution(s), such approvals not to be unreasonably
withheld;</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">any such new lending institution(s) assume(s) all of the rights and obligations of a &#8220;Lender&#8221;
hereunder and shall become party to the allocation and exchange mechanism agreement dated as of the Effective Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">the procedures described in Section&nbsp;2.13(b) have been satisfied.</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 0pt 1in; text-align: justify">Nothing contained in this Section 2.13
shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Commitments hereunder at any time.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Any amendment hereto for such an increase or addition shall be in form and substance satisfactory to the
Administration Agent and shall only require the written signatures of the Administration Agent, Swingline Lenders, Issuing Banks, the
Borrowers and each Lender being added or increasing its Commitment. As a condition precedent to such an increase or addition, the Borrowers
shall deliver to the Administration Agent:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a certificate of each Borrower signed by an authorized officer of such Borrower (A) certifying and attaching
the resolutions adopted by such Borrower approving or consenting to such increase, and (B) certifying that, before and after giving effect
to such increase or addition, (1) the representations and warranties contained in Article&nbsp;8 and in the other Loan Documents are true
and correct in all material respects (except such representations and warranties that are qualified as to materiality, which shall be
true and correct in all respects), except to the extent that such representations and warranties specifically refer to an earlier date,
in which case they are true and correct as of such earlier date, (2) no Default or Event of Default exists or would occur or is established
after giving effect to the Incremental Facility, and (3) the Borrowers are in compliance (on a pro forma basis) with the covenants contained
in Section 8.4; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">legal opinions and customary documents, to the extent reasonably requested by the Administration Agent.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">On the effective date of any such increase or addition, (i) any Lender increasing (or, in the case of
any newly added Lender, extending) its U.S. Revolving Facility Commitment, Canadian Revolving Facility Commitment, UK Revolving Facility
Commitment, Colliers EMEA Revolving Facility Commitment or Australian Revolving Facility Commitment shall make available to the Administration
Agent such amounts in immediately available funds as the Administration Agent shall determine, for the benefit of the other Lenders, as
being required in order to cause, after giving effect to such increase or addition and the use of such amounts to make payments to such
other Lenders, each Lender&#8217;s portion of the outstanding Borrowings, as applicable, of all the applicable Lenders to equal its revised
pro rata share of such outstanding Borrowings, as applicable, and the Administration Agent shall make such other adjustments among the
Lenders with respect to the Borrowings, as applicable, then outstanding and amounts of principal, interest, commitment fees and other
amounts paid or payable with respect thereto as shall be necessary, in the opinion of the Administration Agent, in order to effect such
reallocation and (ii) the Borrowers shall, if applicable, be deemed to have repaid and reborrowed all outstanding Loans as of the date
of any increase (or addition) in the Commitments (with such reborrowing to consist of the Types of Loans, with related SOFR Interest Period,
SONIA Interest Period or Euribor Interest Period, as applicable, Australian Bank Bill Rate Interest Periods or B/A Maturity Dates, as
applicable, specified in a notice delivered by the Canadian Borrower or CMN, in accordance with the requirements of Section 2.2). The
deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest
on the amount prepaid and, in respect of each SOFR Loan, SONIA Loan or Euribor Loan, as applicable, Australian Bank Bill Rate Loans or
Bankers&#8217; Acceptances, shall be subject to indemnification by the Borrowers pursuant to the provisions of Section 7.4 if the deemed
payment occurs other than on the last day of the related SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable,
Australian Bank Bill Rate Interest Periods or B/A Maturity Dates, as applicable. Within a reasonable time after the effective date of
any increase or addition, the Administration Agent shall, and is hereby authorized and directed to, revise the applicable Schedule &#8220;H&#8221;
to reflect such increase or addition and shall distribute such revised Schedule &#8220;H&#8221; to each of the Lenders and the Canadian
Borrower, whereupon such revised Schedule &#8220;H&#8221; shall replace the old such Schedule &#8220;H&#8221; and become part of this
Agreement.</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">2.14</TD><TD STYLE="text-align: justify">Banking Services</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">Any Lenders may provide Banking Services to the
Borrowers and each of their Subsidiaries on terms and conditions acceptable to such Lender. Banking Services obligations owing by the
Borrowers and each of their Subsidiaries shall be considered indebtedness hereunder.</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: bold 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">2.15</TD><TD STYLE="text-align: justify">Applicable Foreign Borrower Sublimits and U.S. Borrower Sublimits</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">Notwithstanding anything to the contrary contained
in this Article&nbsp;2, in no event shall any Applicable Foreign Borrower or the U.S. Borrower be entitled to receive a Loan or the issuance
of a Letter of Credit (and no Lender shall be required to make or support the same) if at the time of the proposed funding of such Loan
or the issuance of such Letter of Credit (and after giving effect thereto and all pending requests for Loans and Letters of Credit by
or on behalf of such Borrower), the sum of (a) the Equivalent Amount (in Dollars) of the outstanding amount of all Loans made to such
Borrower on such date and (b) the Letter of Credit Obligations of such Borrower on such date exceeds in the case of the Applicable Foreign
Borrowers, such Borrower&#8217;s Applicable Foreign Borrower Commitment and in the case of the U.S. Borrower, the Total Commitments under
the U.S. Facilities then in effect. If as a result of fluctuations in exchange rates or otherwise (i) the Equivalent Amount (in Dollars)
of the sum of all outstanding Loans made to an Applicable Foreign Borrower and the Letter of Credit Obligations of such Borrower exceed
such Borrower&#8217;s Applicable Foreign Borrower Commitment or (ii) the Equivalent Amount (in Dollars) of the sum of all outstanding
Loans made to the U.S. Borrower and the Letter of Credit Obligations of such Borrower exceed the Total Commitments under the U.S. Facilities
then in effect, such Borrower shall, (i) if such excess amount is equal to or greater than three percent (3%) of the applicable Total
Commitments, within ten (10) days thereafter, or (ii) if such excess amount is less than three percent (3%) of the applicable Total Commitments,
on the earlier of (a) each next Conversion, BA Maturity Date or Interest Payment Date (with respect to SOFR Loans, SONIA Loans or Euribor
Loans), as applicable, or (b) next Quarter end, thereafter, pay the excess amount within three (3) Business Days following demand by the
applicable Agent.</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: bold 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">2.16</TD><TD STYLE="text-align: justify">Currency Restrictions</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">Notwithstanding anything to the contrary contained
in this Article&nbsp;2, in no event shall any Lender be required to make an Advance in a currency that is not freely transferable and
convertible into Dollars.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;3</FONT><BR>
&#8211;&nbsp;REPAYMENT AND ACCOUNTS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">3.1</TD><TD STYLE="text-align: justify">Repayment</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">The Principal Amount of all Borrowings outstanding
under all of the Facilities shall be repaid in full by the Borrowers, and all cash collateral required pursuant to this Agreement shall
have been pledged to (and deposited with) the Administration Agent, on the Final Maturity Date and the Commitments in respect of such
Facilities shall terminate on such date.</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: bold 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">3.2</TD><TD STYLE="text-align: justify">Accounts kept by the Canadian Agent</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">The Canadian Agent shall keep in its books Accounts
for the Letters of Credit, the Canadian Prime Rate Loans, U.S. Base Rate Loans, SOFR Loans, SONIA Loans, Euribor Loans, Bankers&#8217;
Acceptances and other amounts payable by the Canadian Borrower and CMN under the Canadian Revolving Facility (including for greater certainty,
any Loans made under the Canadian Swingline Facility which become Loans under the Canadian Revolving Facility). The Canadian Agent shall
make appropriate entries showing, as debits, the amount of the indebtedness of the Canadian Borrower and CMN in respect of the Letters
of Credit, the Canadian Prime Rate Loans, U.S. Base Rate Loans, SOFR Loans, SONIA Loans, Euribor Loans, and Bankers&#8217; Acceptances,
as the case may be, the amount of all accrued interest, and any other amount due to the Canadian Lenders or the Agents pursuant hereto,
according to the respective Participation of each Lender in the Canadian Revolving Facility, and showing, as credits, each payment or
repayment of principal and interest made in respect of such indebtedness, as well as any other amount paid to the Canadian Lenders or
the Agents pursuant hereto, according to the respective Participation of each. Such Accounts shall constitute (in the absence of manifest
error) prima facie evidence of their content against the Canadian Borrower and CMN and the Canadian Lenders. The Canadian Agent shall
supply any Canadian Lender and the Canadian Borrower, upon request, with statements of such Accounts.</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: bold 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">3.3</TD><TD STYLE="text-align: justify">Accounts kept by the Canadian Swingline Lenders</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">The Canadian Swingline Lenders shall keep in their
books Accounts for the Canadian Prime Rate Loans and U.S. Base Rate Loans and other amounts payable by the Canadian Borrower under the
Canadian Swingline. The Canadian Swingline Lenders shall make appropriate entries, showing as debits, the amount of indebtedness of the
Canadian Borrower in respect of the Canadian Prime Rate Loans and U.S. Base Rate Loans, as the case may be, the amount of all accrued
interest and any other amount due to the Canadian Swingline Lenders and showing as credits, each payment or repayment of principal and
interest made in respect of such indebtedness. Such Accounts shall constitute (in the absence of manifest error) prima facie evidence
of their content against the Canadian Borrower. The Canadian Swingline Lenders shall supply any Canadian Lender or the Canadian Borrower,
upon request, with statements of such Accounts.</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: bold 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">3.4</TD><TD STYLE="text-align: justify">Accounts kept by the U.S. Agent</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">The U.S. Agent shall keep in its books Accounts
for the Letters of Credit, the U.S. Prime Rate Loans, SOFR Loans, SONIA Loans Euribor Loans and other amounts payable by the U.S. Borrower
under the U.S. Revolving Facility (including for greater certainty, any Loans made under the U.S. Swingline Facility which have become
Loans under the U.S. Revolving Facility). The U.S. Agent shall make appropriate entries showing, as debits, the amount of the indebtedness
of the U.S. Borrower in respect of the U.S. Prime Rate Loans, SOFR Loans, SONIA Loans and Euribor Loans, as the case may be, the amount
of all accrued interest, and any other amount due to the U.S. Lenders or the Agents pursuant hereto, according to the respective Participation
of each Lender, and showing, as credits, each payment or repayment of principal and interest made in respect of such indebtedness, as
well as any other amount paid to the U.S. Lenders or the Agents pursuant hereto, according to the respective Participation of each. Such
Accounts shall constitute (in the absence of manifest error) prima facie evidence of their content against the U.S. Borrower and the U.S.
Lenders. The U.S. Agent shall supply any U.S. Lender and the U.S. Borrower, upon request, with statements of such Accounts.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.5</TD><TD STYLE="text-align: justify">Accounts kept by the U.S. Swingline Lender and the U.S. Sweep Depositary</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">The U.S. Swingline Lender and the U.S. Sweep Depositary
shall keep in its books Accounts for U.S. Prime Rate Loans and other amounts payable by the U.S. Borrower under the U.S. Swingline Facility
and by the Canadian Borrower under the U.S. Sweep to Loan Facility. The U.S. Swingline Lender and the U.S. Sweep Depositary shall make
appropriate entries, showing as debits, the amount of indebtedness of the U.S. Borrower in respect of the U.S. Prime Rate Loans, the amount
of all accrued interest and any other amount due to the U.S. Swingline Lender or the U.S. Sweep Depositary, as applicable, and showing
as credits, each payment or repayment of principal and interest made in respect of such indebtedness. Such Accounts shall constitute (in
the absence of manifest error) prima facie evidence of their content against the U.S. Borrower. The U.S. Swingline Lender and the U.S.
Sweep Depositary shall supply any U.S. Lender or U.S. Borrower, upon request, with statements of such Accounts.</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: bold 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">3.6</TD><TD STYLE="text-align: justify">Accounts kept by the European Agent</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">The European Agent shall keep in its books Accounts
for the Letters of Credit, SOFR Loans, SONIA Loans, Euribor Loans and other amounts payable by the UK Borrower, Colliers EMEA and the
Dutch Borrower under the UK Revolving Facility and the Colliers EMEA Revolving Facility, respectively. The European Agent shall make appropriate
entries showing, as debits, the amount of the indebtedness of Colliers EMEA and the Dutch Borrower in respect of SOFR Loans, SONIA Loans
and Euribor Loans and the amount of indebtedness of the UK Borrower in respect of SOFR Loans, SONIA Loans and Euribor Loans, including
the amount of all accrued interest, and any other amount due to the Colliers EMEA Lenders and UK Lenders or the Agents pursuant hereto,
according to the respective Participation of each Lender, and showing, as credits, each payment or repayment of principal and interest
made in respect of such indebtedness, as well as any other amount paid to the Colliers EMEA Lenders and UK Lenders or the Agents pursuant
hereto, according to the respective Participation of each. Such Accounts shall constitute (in the absence of manifest error) prima facie
evidence of their content against Colliers EMEA and the Dutch Borrower and the Colliers EMEA Lenders and the UK Borrower and the UK Lenders.
The European Agent shall supply any Colliers EMEA Lender, UK Lender, Colliers EMEA, the Dutch Borrower and the UK Borrower, upon request,
with statements of such Accounts.</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: bold 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">3.7</TD><TD STYLE="text-align: justify">[intentionally deleted]</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: bold 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">3.8</TD><TD STYLE="text-align: justify">[intentionally deleted]</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: bold 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">3.9</TD><TD STYLE="text-align: justify">Accounts kept by the Australian Agent</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">The Australian Agent shall keep in its books Accounts
for the Letters of Credit, the Australian Base Rate Loans, Australian Bank Bill Rate Loans, SOFR Loans, SONIA Loans, Euribor Loans and
other amounts payable by the Australian Borrower under the Australian Revolving Facility (including for greater certainty, any Loans made
under the Australian Swingline Facility which have become Loans under the Australian Revolving Facility). The Australian Agent shall make
appropriate entries showing, as debits, the amount of the indebtedness of the Australian Borrower in respect of the Australian Base Rate
Loans, Australian Bank Bill Rate Loans, SOFR Loans, SONIA Loans and Euribor Loans, as the case may be, the amount of all accrued interest,
and any other amount due to the Australian Lenders or the Agents pursuant hereto, according to the respective Participation of each Lender,
and showing, as credits, each payment or repayment of principal and interest made in respect of such indebtedness, as well as any other
amount paid to the Australian Lenders or the Agents pursuant hereto, according to the respective Participation of each. Such Accounts
shall constitute (in the absence of manifest error) prima facie evidence of their content against the Australian Borrower and the Australian
Lenders. The Australian Agent shall supply any Australian Lender and the Australian Borrower, upon request, with statements of such Accounts.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.10</TD><TD STYLE="text-align: justify">Accounts kept by the Australian Swingline Lender</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">The Australian Swingline Lender shall keep in
its books Accounts for Australian Base Rate Loans and other amounts payable by the Australian Borrower under the Australian Swingline
Facility. The Australian Swingline Lender shall make appropriate entries, showing as debits, the amount of indebtedness of the Australian
Borrower in respect of the Australian Base Rate Loans, the amount of all accrued interest and any other amount due to the Australian Swingline
Lender and showing as credits, each payment or repayment of principal and interest made in respect of such indebtedness. Such Accounts
shall constitute (in the absence of manifest error) prima facie evidence of their content against the Australian Borrower. The Australian
Swingline Lender shall supply any Australian Lender or Australian Borrower, upon request, with statements of such Accounts.</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: bold 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">3.11</TD><TD STYLE="text-align: justify">Accounts kept by each Canadian Lender</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">Each Canadian Lender shall keep in its books,
in respect of its Participation, accounts for the Letters of Credit, the Canadian Prime Rate Loans, U.S. Base Rate Loans, Bankers&#8217;
Acceptances, and other amounts payable by the Canadian Borrower and CMN under this Agreement. Each Canadian Lender shall make appropriate
entries showing, as debits, the amount of the indebtedness of the Canadian Borrower and CMN towards it in respect of the Letters of Credit,
the Canadian Prime Rate Loans, U.S. Base Rate Loans and Bankers&#8217; Acceptances, as the case may be, the amount of all accrued interest
and any other amount due to such Lender pursuant hereto and, as credits, each payment or repayment of principal and interest made in respect
of such indebtedness as well as any other amount paid to such Lender pursuant hereto. These accounts shall constitute (in the absence
of manifest error or of contradictory entries in the Accounts), prima facie evidence of their content against the Canadian Borrower and
CMN.</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: bold 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">3.12</TD><TD STYLE="text-align: justify">Accounts kept by each U.S. Lender</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">Each U.S. Lender shall keep in its books, in respect
of its Participation, accounts for the Letters of Credit, U.S. Prime Rate Loans, SOFR Loans and other amounts payable by the U.S. Borrower
under this Agreement. Each U.S. Lender shall make appropriate entries showing, as debits, the amount of the indebtedness of the U.S. Borrower
towards it in respect of the Letters of Credit, U.S. Prime Rate Loans, and SOFR Loans, as the case may be, the amount of all accrued interest
and any other amount due to such Lender pursuant hereto and, as credits, each payment or repayment of principal and interest made in respect
of such indebtedness as well as any other amount paid to such Lender pursuant hereto. These accounts shall constitute (in the absence
of manifest error or of contradictory entries in the Accounts), prima facie evidence of their content against the U.S. Borrower.</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: bold 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">3.13</TD><TD STYLE="text-align: justify">Accounts kept by each Colliers EMEA Lender</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">Each Colliers EMEA Lender shall keep in its books,
in respect of its Participation, accounts for the Letters of Credit, SOFR Loans, SONIA Loans, Euribor Loans and other amounts payable
by Colliers EMEA and the Dutch Borrower under this Agreement. Each Colliers EMEA Lender shall make appropriate entries showing, as debits,
the amount of the indebtedness of Colliers EMEA and the Dutch Borrower towards it in respect of the Letters of Credit and SOFR Loans,
SONIA Loans and Euribor Loans, as the case may be, the amount of all accrued interest and any other amount due to such Lender pursuant
hereto and, as credits, each payment or repayment of principal and interest made in respect of such indebtedness as well as any other
amount paid to such Lender pursuant hereto. These accounts shall constitute (in the absence of manifest error or of contradictory entries
in the Accounts), prima facie evidence of their content against Colliers EMEA and the Dutch Borrower.</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: bold 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">3.14</TD><TD STYLE="text-align: justify">Accounts kept by each UK Lender</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">Each UK Lender shall keep in its books, in respect
of its Participation, accounts for the Letters of Credit, SOFR Loans, SONIA Loans, Euribor Loans and other amounts payable by the UK Borrower
under this Agreement. Each UK Lender shall make appropriate entries showing, as debits, the amount of the indebtedness of the UK Borrower
towards it in respect of the Letters of Credit, SOFR Loans, SONIA Loans and Euribor Loans, as the case may be, the amount of all accrued
interest and any other amount due to such Lender pursuant hereto and, as credits, each payment or repayment of principal and interest
made in respect of such indebtedness as well as any other amount paid to such Lender pursuant hereto. These accounts shall constitute
(in the absence of manifest error or of contradictory entries in the Accounts), prima facie evidence of their content against the UK Borrower.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.15</TD><TD STYLE="text-align: justify">Accounts kept by each Australian Lender</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">Each Australian Lender shall keep in its books,
in respect of its Participation, accounts for the Letters of Credit, Australian Base Rate Loans, Australian Bank Bill Rate Loans and other
amounts payable by the Australian Borrower under this Agreement. Each Australian Lender shall make appropriate entries showing, as debits,
the amount of the indebtedness of the Australian Borrower towards it in respect of the Letters of Credit, Australian Base Rate Loans,
Australian Bank Bill Rate Loans, as the case may be, the amount of all accrued interest and any other amount due to such Lender pursuant
hereto and, as credits, each payment or repayment of principal and interest made in respect of such indebtedness as well as any other
amount paid to such Lender pursuant hereto. These accounts shall constitute (in the absence of manifest error or of contradictory entries
in the Accounts), prima facie evidence of their content against the Australian Borrower.</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: bold 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">3.16</TD><TD STYLE="text-align: justify">Promissory Notes</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">At the request of any Lender, each Borrower under
the Facilities applicable to such Lender shall execute and deliver to such Lender a promissory note substantially in the form attached
hereto as Schedule &#8220;K&#8221;.</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: bold 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">3.17</TD><TD STYLE="text-align: justify">Excess Resulting from Exchange Rate Change</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Any time that, following one or more fluctuations in the exchange rate of the Canadian Dollar against
the U.S. Dollar, the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Borrowings in U.S. Dollars under the Canadian Facilities; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Equivalent Amount in U.S. Dollars of the Borrowings in Canadian Dollars, Sterling and Euros under
the Canadian Facilities;</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 0pt 0.5in; text-align: justify">exceeds the Total Commitments under
the Canadian Facilities then in effect, the Canadian Borrower shall, (i) if such excess amount is equal to or greater than three percent
(3%) of the Total Commitments, within ten (10) days thereafter, or (ii) if such excess amount is less than three percent (3%) of the Total
Commitments, on the earlier of (a) each next Conversion, BA Maturity Date or Interest Payment Date (with respect to SOFR Loans, SONIA
Loans or Euribor Loans), as applicable, or (b) next Quarter end, thereafter, either:</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">make the necessary payments or repayments to the Canadian Agent or Canadian Swingline Lenders, as the
case may be, to reduce such sum to an amount equal to or less than the Total Commitments under the Canadian Facilities in effect on the
date of such payment or repayment; or</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">maintain or cause to be maintained with the Canadian Agent deposits of U.S. Dollars in an amount equal
to or greater than the amount by which such sum exceeds the Total Commitments under the Canadian Facilities in effect on the date such
deposits are provided to the Canadian Agent, such deposits to be maintained in such form and upon such terms as are acceptable to the
Canadian Agent. Until such time as such sum shall no longer exceed the Total Commitments under the Canadian Facilities, the Canadian Agent
shall invest the deposits, in such manner and form of investment as shall be mutually acceptable to the Canadian Borrower and the Canadian
Agent, and income earned thereon shall be received by the Canadian Agent for the Canadian Borrower&#8217;s account and paid to the Canadian
Borrower.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Without in any way limiting the foregoing provisions, the Canadian Agent shall, on each Acceptance Date,
Drawdown Date, Interest Payment Date and B/A Maturity Date make the necessary exchange rate calculations to determine whether any such
excess exists on such date and, if there is an excess, it shall so notify the Canadian Borrower.</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: bold 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">3.18</TD><TD STYLE="text-align: justify">Currency</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">Dollars are the currency of account and payment
for each and every sum at any time due from Borrowers hereunder unless otherwise specifically provided in this Agreement, any other Loan
Document or otherwise agreed to by Agent; provided, that</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">each repayment of a Loan, on a Letter of Credit or a part thereof shall be made in the currency in which
such Loan or Letter of Credit is denominated at the time of that repayment;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">each payment of interest shall be made in the currency in which the principal or other sum in respect
of which such interest is denominated;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">each payment of fees pursuant to Section 4.9 shall be in Dollars;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">each payment of fees pursuant to Sections 2.11 and 4.10 shall be in the currency of the underlying Letter
of Credit;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">each payment of fees pursuant to Section 4.8 shall be in Canadian Dollars; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">each payment in respect of all other Obligations and any other costs, expenses and indemnities shall be
made in the currency in which the same were incurred by the party to whom payment is to be made.</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">No payment to any Agent, Lender or Issuing Bank
(whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Borrower or Guarantor in respect
of which it was made unless and until such Agent, Lender or Issuing Bank shall have received full payment in the currency in which such
obligation or liability is payable pursuant to the above provisions of this Section 3.18. Agent has the right, at the expense of the applicable
Borrower or Guarantor, to convert any payment made in an incorrect currency into the applicable currency required under this Agreement.
To the extent that the amount of any such payment shall, on actual conversion into such currency, fall short of such obligation or liability
actual or contingent expressed in that currency, such Borrower or Guarantor (together with the other Borrowers and Guarantors) agrees
to indemnify and hold harmless such Agent, Lender or Issuing Bank, with respect to the amount of the shortfall with respect to amounts
payable by such Borrower or Guarantor hereunder, with such indemnity surviving the termination of this Agreement and any legal proceeding,
judgment or court order pursuant to which the original payment was made which resulted in the shortfall. To the extent that the amount
of any such payment to an Agent, Lender or Issuing Bank shall, upon an actual conversion into such currency, exceed such obligation or
liability, actual or contingent, expressed in that currency, such Agent, Lender or Issuing Bank shall return such excess to the applicable
Borrower or Guarantor.</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;4</FONT><BR>
&#8211;&nbsp;INTEREST, ACCEPTANCE FEE,<BR>
LETTER OF CREDIT FEE AND COMMITMENT FEES</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">4.1</TD><TD STYLE="text-align: justify">Interest on SOFR Loans, SONIA Loans, Euribor Loans and Australian Bank Bill Rate Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The U.S. Borrower shall pay to the Agent for the account of the Lenders:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Term SOFR, interest on each SOFR
Loan in U.S. Dollars drawn down by the U.S. Borrower for each SOFR Interest Period at that rate per annum determined by the U.S. Agent
to be equal to the sum of the SOFR Margin plus the Adjusted Term SOFR payable on each applicable Interest Payment Date;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR, interest on
the unpaid principal amount of each Daily Simple SOFR Advance drawn down by the U.S. Borrower from the date of such Advance (or Conversion
of another Type of Advance into a Daily Simple SOFR Advance) until the date on which the principal amount of the Daily Simple SOFR Advance
is repaid in full (or is converted into another Type of Advance) at a rate per annum equal at all times to the sum of the SOFR Margin
plus the Adjusted Daily Simple SOFR in effect from time to time, calculated daily and payable in arrears (a) on the first Business Day
of each calendar month in each year; and (b) on the day on which such Daily Simple SOFR Advance becomes due and payable in full pursuant
to the provisions hereof;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">for each SONIA Loan, interest on that SONIA Loan for each SONIA Interest Period at the rate per annum
determined by the European Agent to be equal to the sum of the SONIA Margin plus the Adjusted SONIA payable on each applicable Interest
Payment Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">for each Euribor Loan, interest on that Euribor Loan for each Euribor Interest Period at the rate per
annum determined by the European Agent to be equal to the sum of the Euribor Margin plus the Euribor Rate payable on each applicable Interest
Payment Date.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each of the Canadian Borrower and CMN, as applicable, shall pay to the Agent for the account of the Lenders:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Term SOFR, interest on each SOFR
Loan in U.S. Dollars drawn down by the Canadian Borrower or CMN for each SOFR Interest Period at that rate per annum determined by the
Canadian Agent to be equal to the sum of the SOFR Margin plus the Adjusted Term SOFR payable on each applicable Interest Payment Date;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR, interest on
the unpaid principal amount of each Daily Simple SOFR Advance drawn down by the Canadian Borrower or CMN from the date of such Advance
(or Conversion of another Type of Advance into a Daily Simple SOFR Advance) until the date on which the principal amount of the Daily
Simple SOFR Advance is repaid in full (or is converted into another Type of Advance) at a rate per annum equal at all times to the sum
of the SOFR Margin plus the Adjusted Daily Simple SOFR in effect from time to time, calculated daily and payable in arrears (a) on the
first Business Day of each calendar month in each year; and (b) on the day on which such Daily Simple SOFR Advance becomes due and payable
in full pursuant to the provisions hereof;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">for each SONIA Loan, interest on that SONIA Loan for each SONIA Interest Period at the rate per annum
determined by the European Agent to be equal to the sum of the SONIA Margin plus the Adjusted SONIA payable on each applicable Interest
Payment Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">for each Euribor Loan, interest on that Euribor Loan for each Euribor Interest Period at the rate per
annum determined by the European Agent to be equal to the sum of the Euribor Margin plus the Euribor Rate payable on each applicable Interest
Payment Date.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Colliers EMEA and the Dutch Borrower, as applicable, shall pay to the Agent for the account of the Lenders:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Term SOFR, interest on each SOFR
Loan in U.S. Dollars drawn down by Colliers EMEA or the Dutch Borrower for each SOFR Interest Period at that rate per annum determined
by the European Agent to be equal to the sum of the SOFR Margin plus the Adjusted Term SOFR payable on each applicable Interest Payment
Date;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR, interest on
the unpaid principal amount of each Daily Simple SOFR Advance drawn down by Colliers EMEA or the Dutch Borrower from the date of such
Advance (or Conversion of another Type of Advance into a Daily Simple SOFR Advance) until the date on which the principal amount of the
Daily Simple SOFR Advance is repaid in full (or is converted into another Type of Advance) at a rate per annum equal at all times to the
sum of the SOFR Margin plus the Adjusted Daily Simple SOFR in effect from time to time, calculated daily and payable in arrears (a) on
the first Business Day of each calendar month in each year; and (b) on the day on which such Daily Simple SOFR Advance becomes due and
payable in full pursuant to the provisions hereof; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">for each Euribor Loan, interest on that Euribor Loan for each Euribor Interest Period at the rate per
annum determined by the European Agent to be equal to the sum of the Euribor Margin plus the Euribor Rate payable on each applicable Interest
Payment Date.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The UK Borrower shall pay to the Agent for the account of the Lenders:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">for each SOFR Loan drawn down by the UK Borrower that bears interest at a rate based on the Adjusted Term
SOFR, interest for each SOFR Interest Period at that rate per annum determined by the European Agent to be equal to the sum of the SOFR
Margin plus the Adjusted Term SOFR payable on each applicable Interest Payment Date;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">for each SOFR Loan drawn down by the UK Borrower that bears interest at a rate based on the Adjusted Daily
Simple SOFR, interest on the unpaid principal amount of each Daily Simple SOFR Advance from the date of such Advance (or Conversion of
another Type of Advance into a Daily Simple SOFR Advance) until the date on which the principal amount of the Daily Simple SOFR Advance
is repaid in full (or is converted into another Type of Advance) at a rate per annum equal at all times to the sum of the SOFR Margin
plus the Adjusted Daily Simple SOFR in effect from time to time, calculated daily and payable in arrears (a) on the first Business Day
of each calendar month in each year; and (b) on the day on which such Daily Simple SOFR Advance becomes due and payable in full pursuant
to the provisions hereof; and</TD></TR></TABLE>
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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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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">for each SONIA Loan drawn down by the UK Borrower, interest for each SONIA Interest Period at that rate
per annum determined by the European Agent to be equal to the sum of the SONIA Margin plus the Adjusted SONIA payable on each applicable
Interest Payment Date.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Australian Borrower shall pay to the Agent for the account of the Lenders:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">on each applicable Interest Payment Date, to the Australian Agent for the account of the Australian Lenders
interest on each Australian Bank Bill Rate Loan in Australian Dollars drawn down by the Australian Borrower for each Australian Bank Bill
Rate Interest Period at that rate per annum determined by the Australian Agent to be equal to the sum of the applicable Australian Bank
Bill Rate Margin plus Australian Bank Bill Rate;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Term SOFR, interest on each SOFR
Loan in U.S. Dollars drawn down by the Australian Borrower for each SOFR Interest Period at that rate per annum determined by the Australian
Agent to be equal to the sum of the SOFR Margin plus the Adjusted Term SOFR payable on each applicable Interest Payment Date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">for each SOFR Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR, interest on
the unpaid principal amount of each Daily Simple SOFR Advance drawn down by the Australian Borrower from the date of such Advance (or
Conversion of another Type of Advance into a Daily Simple SOFR Advance) until the date on which the principal amount of the Daily Simple
SOFR Advance is repaid in full (or is converted into another Type of Advance) at a rate per annum equal at all times to the sum of the
SOFR Margin plus the Adjusted Daily Simple SOFR in effect from time to time, calculated daily and payable in arrears (a) on the first
Business Day of each calendar month in each year; and (b) on the day on which such Daily Simple SOFR Advance becomes due and payable in
full pursuant to the provisions hereof.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Each determination by the applicable Agent of the rate of interest applicable to a SOFR Interest Period,
SONIA Interest Period, Euribor Interest Period or Australian Bank Bill Rate Interest Period, as applicable, shall, in the absence of manifest
error, be final, conclusive and binding upon the applicable Borrower and Lenders. Upon determination of the rate of interest applicable
on the SOFR Determination Date, Term SOFR Determination Date, SONIA Determination Date, Euribor Determination Date or Australian Bank
Bill Rate Determination Date, as applicable, the applicable Agent shall notify the applicable Borrower and Lenders of such rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Except as specifically set forth in this Section 4.1(g), the interest determined in accordance with of
this Section 4.1 shall be calculated daily on the basis of the actual number of days elapsed divided by 360 for (a), (b), (c), (d) and
(g) and 365 for (a)(iii), (b)(iii), (d)(iii), (e) and (f). The yearly rate of interest to which the rate determined in accordance with
the foregoing provisions of this Section 4.1 is equivalent, is the rate so determined multiplied by the actual number of days in that
year and divided by 360 for (a), (b), (c), (d) and (g) and 365 for (a)(iii), (b)(iii), (d)(iii), (e) and (f).</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">In connection with the use or administration of SOFR, Term SOFR, Daily Simple SOFR, SONIA or Euribor,
the applicable Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein
or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or
consent of any other party to this Agreement or any other Loan Document. The applicable Agent will promptly notify the applicable Borrower(s)
and Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of SOFR, Term SOFR, Daily Simple
SOFR, SONIA or Euribor, as applicable.</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">4.2</TD><TD STYLE="text-align: justify">Interest on U.S. Base Rate Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each of the Canadian Borrower and CMN shall pay to the Canadian Agent for the account of the Canadian
Lenders in U.S. Dollars interest on each U.S. Base Rate Loan made under the Canadian Revolving Facility as evidenced by the Accounts of
the Canadian Agent at a rate per annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the U.S. Base Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the U.S. Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Canadian Borrower shall pay to each Canadian Swingline Lender in U.S. Dollars interest on each U.S.
Base Rate Loan made under the Canadian Swingline Facility as evidenced by the Accounts of such Canadian Swingline Lender at a rate per
annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the U.S. Base Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the U.S. Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each change in the fluctuating rate for U.S. Base Rate Loan will take place simultaneously with a corresponding
change in the U.S. Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The yearly rate of interest to which the rate determined in accordance with the foregoing provisions of
this Section 4.2 is equivalent, is the rate so determined multiplied by the actual number of days in that year and divided by 365/366,
as applicable.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including
the last day of the previous Quarter.</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: bold 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">4.3</TD><TD STYLE="text-align: justify">Interest on Canadian Prime Rate Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each of the Canadian Borrower and CMN shall pay the Canadian Agent for the account of the Canadian Lenders
in Canadian Dollars interest on each Canadian Prime Rate Loan made under the Canadian Revolving Facility as evidenced by the Accounts
at a rate per annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Canadian Prime Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Canadian Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Canadian Borrower shall pay to each of the Canadian Swingline Lenders in Cdn.$ interest on each Canadian
Prime Rate Loan made under the Canadian Swingline Facility as evidenced by the Accounts of such Canadian Swingline Lender at a rate per
annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Canadian Prime Rate Margin; and</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Canadian Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each change in the fluctuating interest rate for a Canadian Prime Rate Loan will take place simultaneously
with the corresponding change in the Canadian Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including
the last day of the previous Quarter and shall be calculated daily on the basis of the actual number of days elapsed in a year of 365
or 366 days, as the case may be.</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: bold 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">4.4</TD><TD STYLE="text-align: justify">Interest on U.S. Prime Rate Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The U.S. Borrower shall pay to the U.S. Agent for the account of the U.S. Lenders in U.S. Dollars interest
on each U.S. Prime Rate Loan as evidenced by the Accounts at a rate per annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the U.S. Prime Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the U.S. Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The U.S. Borrower shall pay to the U.S. Swingline Lender or the U.S. Sweep Depositary, as applicable,
in U.S. Dollars interest on each U.S. Prime Rate Loan as evidenced by the Accounts of the U.S. Swingline Lender or the U.S. Sweep Depositary,
as applicable, at a rate per annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the U.S. Prime Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the U.S. Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each change in the fluctuating rate for a U.S. Prime Rate Loan will take place simultaneously with a corresponding
change in the U.S. Prime Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The yearly rate of interest to which the rate determined in accordance with the foregoing provisions of
this Section 4.4 is equivalent, is the rate so determined multiplied by the actual number of days in that year and divided by 360.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including
the last day of the previous Quarter.</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: bold 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">4.5</TD><TD STYLE="text-align: justify">Interest on Australian Base Rate Loans</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Australian Borrower shall pay the Australian Agent for the account of the Australian Lenders in Australian
Dollars interest on each Australian Base Rate Loan made under the Australian Revolving Facility as evidenced by the Accounts at a rate
per annum equal to the sum of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Australian Base Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Australian Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Australian Borrower shall pay to the Australian Swingline Lender in Australian Dollars interest on
each Australian Base Rate Loan made under the Australian Swingline Facility as evidenced by the Accounts of the Australian Swingline Lender
at a rate per annum equal to the sum of:</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Australian Base Rate Margin; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Australian Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each change in the fluctuating interest rate for an Australian Base Rate Loan will take place simultaneously
with the corresponding change in the Australian Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The yearly rate of interest to which the rate determined in accordance with the foregoing provisions of
this Section 4.5 is equivalent, is the rate so determined multiplied by the actual number of days in that year and divided by 365.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including
the last day of the previous Quarter.</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: bold 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">4.6</TD><TD STYLE="text-align: justify">SOFR Interest Period / SONIA Interest Period / Euribor Interest Period / Australian Bank Bill Rate Interest
Periods</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">If the U.S. Borrower, the Canadian Borrower, CMN, Colliers EMEA, the Dutch Borrower, the UK Borrower or
the Australian Borrower is borrowing by way of a SOFR Loan, SONIA Loan or Euribor Loan, as applicable, or if the U.S. Borrower, the Canadian
Borrower, CMN, Colliers EMEA, the Dutch Borrower, the UK Borrower or the Australian Borrower elects to convert into a SOFR Loan, SONIA
Loan or Euribor Loan, as applicable, pursuant to Section 2.3, the applicable Borrower shall, prior to the expiration or beginning of each
SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable, select and notify the Canadian Agent, the U.S.
Agent, the European Agent or the Australian Agent, as applicable, as the case may be, at least three (3) Business Days prior to:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the last day of the current SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as
applicable, for such Loan;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Conversion Date, as the case may be, of the next or new, as the case may be, SOFR Interest Period,
SONIA Interest Period or Euribor Interest Period, as applicable, applicable to such Loan, which new SOFR Interest Period, SONIA Interest
Period or Euribor Interest Period, as applicable, shall commence on and include the day following the expiration of the prior SOFR Interest
Period, SONIA Interest Period or Euribor Interest Period, as applicable. If a Borrower fails to select and to notify the Canadian Agent,
the U.S. Agent, the European Agent or the Australian Agent, as the case may be, of the SOFR Interest Period, SONIA Interest Period or
Euribor Interest Period, as applicable, applicable to a Loan, such Borrower shall be deemed to have selected a SOFR Interest Period, SONIA
Interest Period or Euribor Interest Period, as applicable, of one (1) month or 30 days, as the case may be.</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 0pt 1in; text-align: justify">In any event, no SOFR Interest Period,
SONIA Interest Period or Euribor Interest Period, as applicable, shall end on a date falling after the Final Maturity Date. The Borrowers
shall ensure, when selecting a SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable, that no SOFR Loan,
SONIA Loan or Euribor Loan, as applicable, shall be required to be prepaid in order for the Borrowers to perform their obligations under
Section 3.1.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If the Australian Borrower is borrowing by way of an Australian Bank Bill Rate Loan or if the Australian
Borrower elects to convert into an Australian Bank Bill Rate Loan pursuant to Section 2.3, the Australian Borrower shall, prior to the
expiration or beginning of each Australian Bank Bill Rate Interest Period, select and notify the Australian Agent at least three (3) Business
Days prior to:</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the last day of the current Australian Bank Bill Rate Interest Period for such Australian Bank Bill Rate
Loan;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Conversion Date, as the case may be, of the next or new, as the case may be, Australian Bank Bill
Rate Interest Period applicable to such Australian Bank Bill Rate Loan, which new Australian Bank Bill Rate Interest Period, as applicable,
shall commence on and include the day following the expiration of the prior Australian Bank Bill Rate Interest Period. If Australian Borrower
fails to select and to notify the Australian Agent of the Australian Bank Bill Rate Interest Period applicable to an Australian Bank Bill
Rate Loan, Australian Borrower shall be deemed to have selected an Australian Bank Bill Rate Interest Period, of one (1) month or 30 days,
as the case may be.</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 0pt 1in; text-align: justify">In any event, no Australian Bank Bill
Rate Interest Period shall end on a date falling after the Final Maturity Date. The Australian Borrower shall ensure, when selecting an
Australian Bank Bill Rate Interest Period, that no Australian Bank Bill Rate Loan shall be required to be prepaid in order for the Australian
Borrower to perform its obligations under Section 3.1.</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: bold 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">4.7</TD><TD STYLE="text-align: justify">Interest on Overdue Amounts</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">The Canadian Borrower and CMN shall pay to the
Canadian Agent for the account of the Canadian Lenders, the U.S. Borrower shall pay to the U.S. Agent for the account of the U.S. Lenders,
Colliers EMEA or the Dutch Borrower, as applicable, shall pay to the European Agent for the account of the Colliers EMEA Lenders, the
UK Borrower shall pay to the European Agent for the account of the UK Lenders and the Australian Borrower shall pay to the Australian
Agent for the account of the Australian Lenders, on demand, interest on all overdue payments in connection with this Agreement, at a rate
per annum which is equal to two percent (2%) per annum in excess of (a) the applicable rates of interest (inclusive of SOFR Margin, SONIA
Margin or Euribor Margin, as applicable, and Australian Bank Bill Rate Margin) payable under Section 4.1 in the case of payments of principal
or interest on SOFR Loans, SONIA Loans, Euribor Loans and Australian Bank Bill Rate Loans or (b) the applicable rates of interest (inclusive
of Canadian Prime Rate Margin, U.S. Base Rate Margin, U.S. Prime Rate Margin or Australian Base Rate Margin) payable under Sections 4.2,
4.3, 4.4 or 4.5 in the case of any other payments in Cdn.$, U.S.$ or A$, as applicable.</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: bold 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">4.8</TD><TD STYLE="text-align: justify">Acceptance Fee</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">An Acceptance Fee shall be:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">payable by the Canadian Borrower and CMN, as applicable, to the Canadian Agent for distribution to the
Canadian Lenders on the Acceptance Date for each Bankers&#8217; Acceptance issued; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">calculated on the Principal Amount of each Bankers&#8217; Acceptance for the number of days in the term
of such Bankers&#8217; Acceptance and based on a year of 365 days.</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: bold 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">4.9</TD><TD STYLE="text-align: justify">Commitment Fees</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">From and including the Effective Date to and including
the Final Maturity Date,</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Canadian Borrower and CMN, as applicable, shall pay to the Canadian Agent, for the account of the
Canadian Lenders to be allocated among and paid to such Lenders pro rata in accordance with such Lenders&#8217; respective Commitments,
commitment fees described in the definition of Applicable Margin on the daily unutilized portion of the Commitments in respect of the
Canadian Revolving Facility for each Quarter and payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter)
and based on a year of 365 or 366 days as the case may be;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the U.S. Borrower shall pay to the U.S. Agent, for the account of the U.S. Lenders to be allocated among
and paid to such Lenders pro rata in accordance with such Lenders&#8217; respective Commitments, commitment fees described in the definition
of Applicable Margin on the daily unutilized portion of the Commitments in respect of the U.S. Revolving Facility for each Quarter and
payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year of 365 or 366 days as
the case may be;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Colliers EMEA and the Dutch Borrower shall pay to the European Agent, for the account of the Colliers
EMEA Lenders to be allocated among and paid to such Lenders pro rata in accordance with such Lenders&#8217; respective Commitments, commitment
fees described in the definition of Applicable Margin on the daily unutilized portion of the Commitments in respect of the Colliers EMEA
Revolving Facility for each Quarter and payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and
based on a year of 365 or 366 days as the case may be;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the UK Borrower shall pay to the European Agent, for the account of the UK Lenders to be allocated among
and paid to such Lenders pro rata in accordance with such Lenders&#8217; respective Commitments, commitment fees described in the definition
of Applicable Margin on the daily unutilized portion of the Commitments in respect of the UK Revolving Facility for each Quarter and payable
quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year of 365 or 366 days as the case
may be;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Australian Borrower shall pay to the Australian Agent, for the account of the Australian Lenders to
be allocated among and paid to such Lenders pro rata in accordance with such Lenders&#8217; respective Commitments, commitment fees described
in the definition of Applicable Margin on the daily unutilized portion of the Commitments in respect of the Australian Revolving Facility
for each Quarter and payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year
of 365 or 366 days as the case may be;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the Canadian Borrower shall pay to each Canadian Swingline Lender, its share of the commitment fees described
in the definition of Applicable Margin on the daily unutilized portion of the Commitments in respect of the Canadian Swingline Facility
for each Quarter and payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year
of 365 or 366 days as the case may be;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the U.S. Borrower shall pay to the U.S. Swingline Lender, commitment fees described in the definition
of Applicable Margin on the daily unutilized portion of the Commitments in respect of the U.S. Swingline Facility for each Quarter and
payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year of 365 or 366 days as
the case may be; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">the Australian Borrower shall pay to the Australian Swingline Lender, commitment fees described in the
definition of Applicable Margin on the daily unutilized portion of the Commitments in respect of the Australian Swingline Facility for
each Quarter and payable quarterly in arrears (on the fifth (5<SUP>th</SUP>) Business Day after each Quarter) and based on a year of 365
or 366 days as the case may be.</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: bold 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">4.10</TD><TD STYLE="text-align: justify">Letter of Credit Fronting Fee</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">The Canadian Borrower, CMN, U.S. Borrower, Colliers
EMEA, Dutch Borrower, UK Borrower or Australian Borrower, as the case may be, shall pay to the Issuing Bank for its own account issuing
a Letter of Credit on behalf of such Borrower, a letter of credit fronting fee of 0.25% of the Principal Amount of such Letter of Credit
for the number of days in the term of such Letters of Credit and based on a year of 365/366 days.</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">This fee is payable quarterly in arrears (on the
fifth (5<SUP>th</SUP>) Business Day after each Quarter) for the period up to and including the last day of the previous Quarter.</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: bold 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">4.11</TD><TD STYLE="text-align: justify">Effective Date for Changes in Applicable Margins</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">On the Effective Date, the Applicable Margin will be set based on the column titled &#8220;1. TD/CE Ratio&#8221;
in the definition of Applicable Margin. Thereafter, Applicable Margins will be adjusted effective as of the first day of each month following
the date that the Canadian Borrower is required to deliver financial statements in accordance with Section 8.2(h).</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">In the event that the Canadian Borrower fails to deliver its financial statements when required in accordance
with Section 8.2(h), Applicable Margins shall be adjusted to those in the column titled &#8220;5. TD/CE Ratio&#8221; in the definition
of Applicable Margin until the first day of the month following the delivery of financial statements of the Canadian Borrower providing
the information confirming that an adjustment to the Applicable Margins has come into effect or that no adjustment to the Applicable Margins
has come into effect, as the case may be.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Notwithstanding any other provision of this Agreement, in the event that the Borrowers are entitled to
an adjustment to the rates applicable to any Borrowings outstanding by way of Bankers&#8217; Acceptances, Letters of Credit, and/or Loans,
such rates shall not be adjusted prior to:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">in the case of Bankers&#8217; Acceptances, the applicable B/A Maturity Date;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">in the case of Letters of Credit, the next fee payment date; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">in the case of Loans, the end of the applicable Interest Period.</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: bold 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">4.12</TD><TD STYLE="text-align: justify">Interest Act Waiver</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">The Borrowers confirm that they fully understand
and are able to calculate the rates of interest applicable to the Loans based on the methodology for calculating per annum rates provided
for in this Agreement including as set out in Sections 4.1(g), 4.2(d), 4.3(d), 4.4(d) and 4.5(d). The Borrowers hereby irrevocably agree
not to plead or assert, whether by way of defence or otherwise, in any proceeding relating to this Agreement or any Loan Document, that
the interest payable under this Agreement and the calculation thereof has not been adequately disclosed to the Borrowers as required pursuant
to Section 4 of the Interest Act (Canada).</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: bold 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">4.13</TD><TD STYLE="text-align: justify">CDOR Discontinuation</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">If the Administration Agent determines (which determination shall be conclusive absent manifest error),
or the Borrowers or the Majority Lenders notify the Administration Agent that the Borrowers or Majority Lenders (as applicable) have determined
that:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">adequate and reasonable means do not exist for ascertaining CDOR Rate, including because the Refinitiv
Screen CDOR Page is not available or published on a current basis for the applicable Interest Period and such circumstances are unlikely
to be temporary;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the administrator of the CDOR Rate or a Governmental Authority having jurisdiction has made a public statement
identifying a specific date after which CDOR Rate will permanently or indefinitely cease to be made available or permitted to be used
for determining the interest rate of loans;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">a Governmental Authority having jurisdiction over the Administration Agent has made a public statement
identifying a specific date after which CDOR Rate shall no longer be permitted to be used for determining the interest rate of loans (each
such specific date in clause (ii) above and in this clause (iii) a &#8220;<B>CDOR Scheduled Unavailability Date</B>&#8221;); or</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">syndicated loans currently being executed, or that include language similar to that contained in this
Section 4.13, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace the CDOR
Rate,</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 0pt 1in; text-align: justify; text-indent: 0in">then reasonably promptly
after such determination by the Administration Agent or receipt by the Administration Agent of such notice, as applicable, the Administration
Agent and the Borrowers may mutually agree upon a successor rate to the CDOR Rate, and the Agent and the Borrowers may amend this Agreement
to replace the CDOR Rate with an alternate benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated
therein ), giving due consideration to any evolving or then existing convention for similar Canadian Dollars denominated syndicated credit
facilities for such alternative benchmarks (any such proposed rate, a &#8220;<B>CDOR Successor Rate</B>&#8221;), together with any proposed
CDOR Successor Rate conforming changes and any such amendment shall become effective at 5:00 p.m. (Toronto time) on the fifth (5<SUP>th</SUP>)
Business Day after the Administration Agent shall have posted such proposed amendment to all Lenders and the Borrowers unless, prior to
such time, Lenders comprising the Majority Lenders have delivered to the Agent written notice that such Majority Lenders do not accept
such amendment.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If no CDOR Successor Rate has been determined and the circumstances under clause 4.13(a)(i) above exist
or a CDOR Scheduled Unavailability Date has occurred (as applicable), the Administration Agent will promptly so notify the Borrowers and
each Lender. Thereafter, the obligation of the Lenders to make or maintain Bankers&#8217; Acceptances and BA Equivalent Loans, shall be
suspended (to the extent of the affected Bankers&#8217; Acceptances, BA Equivalent Loans, or Interest Periods). Upon receipt of such notice,
a Borrower may revoke any pending request for an Advance of, Conversion to or rollover of Bankers&#8217; Acceptances or BA Equivalent
Loans, (to the extent of the affected Bankers&#8217; Acceptances, BA Equivalent Loans, or Interest Periods) or, failing that, will be
deemed to have converted such request into a request for an Advance of Canadian Prime Rate Loans (subject to the foregoing clause (a))
in the amount specified therein.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Notwithstanding anything else herein, any definition of the CDOR Successor Rate (exclusive of any margin)
shall provide that in no event shall such CDOR Successor Rate be less than zero for the purposes of this Agreement. In addition, the CDOR
Rate shall not be included or referenced in the definition of Canadian Prime Rate.</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: bold 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">4.14</TD><TD STYLE="text-align: justify">Sustainability Adjustments</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">If the Canadian Borrower has delivered to the Sustainability Structuring Agent and the Administration
Agent:</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: 1in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">the 2021 Baseline Report pursuant to Section 8.2(h)(iv) and the 2021 Baseline Report verifies the Baseline
Sustainability Levels set out in Schedule &#8220;M&#8221; as at the date of this Agreement:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(I)</TD><TD STYLE="text-align: justify">the Sustainability Structuring Agent will promptly notify the Lenders;</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: 1.5in"></TD><TD STYLE="width: 0.5in">(II)</TD><TD STYLE="text-align: justify">the SPT Metric Effective Date will occur (without further action by any party) on the date on which the
2021 Baseline Report was delivered; and</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(III)</TD><TD STYLE="text-align: justify">paragraphs (b) to (g) of this Section 4.14 (and the other provisions of this Agreement the effectiveness
of which is conditional on the occurrence of the SPT Metric Effective Date) will apply; or</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: 1in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">the 2021 Baseline Report together with an SPT Metric Adjustment Proposal pursuant to Section 8.2(h)(iv):</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: 1.5in"></TD><TD STYLE="width: 0.5in">(I)</TD><TD STYLE="text-align: justify">the Sustainability Structuring Agent shall review the SPT Metric Adjustment Proposal prior to any circulation
to the Lenders and, within three (3) Business Days of receipt of the same, shall either:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">notify Canadian Borrower of the Sustainability Structuring Agent&#8217;s approval of the SPT Metric Adjustment
Proposal and deliver the SPT Metric Adjustment Proposal to the Lenders, requesting the approval of the Majority Lenders of the SPT Metric
Adjustment Proposal by no later than the Business Day prior to the last date on which the first Sustainability Certificate may be delivered
hereunder (for the purposes of this Section 4.14(a), the &#8220;<B>Response Date</B>&#8221;); or</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">notify the Canadian Borrower of the Sustainability Structuring Agent&#8217;s disapproval of the SPT Metric
Adjustment Proposal, in which case Canadian Borrower and the Sustainability Structuring Agent shall use reasonable endeavours to agree
to revisions to the SPT Metric Adjustment Proposal and, if such revisions are agreed within five (5) Business Days of the delivery of
the SPT Metric Adjustment Proposal, the Sustainability Structuring Agent shall deliver the revised SPT Metric Adjustment Proposal to the
Lenders, requesting the approval of the Majority Lenders of SPT Metric Adjustment Proposal by no later than the Response Date,</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: 1.5in"></TD><TD STYLE="width: 0.5in">(II)</TD><TD STYLE="text-align: justify">each Lender may accept or reject an SPT Metric Adjustment Proposal in its discretion, acting reasonably,
and any Lender that does not approve an SPT Metric Adjustment Proposal by the Response Date will be deemed to have rejected that SPT Metric
Adjustment Proposal. If the Majority Lenders:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">approve an SPT Metric Adjustment Proposal in accordance with subparagraph (I) above, the Sustainability
Structuring Agent will promptly notify Canadian Borrower and: (x) the SPT Metric Effective Date will occur on the Response Date; (y) the
parties agree to make such amendments to this Agreement (including any amendments to, or replacement of, Schedule &#8220;M&#8221;) as
are contemplated by the SPT Metric Adjustment Proposal (and this Agreement shall be deemed to be amended as such upon approval by the
Majority Lenders); and (z) paragraphs (b) to (g) of this Section 4.14 (and the other provisions of this Agreement the effectiveness of
which is conditional on the occurrence of the SPT Metric Effective Date) will apply;</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">do not approve an SPT Metric Adjustment Proposal in accordance with paragraph (A) above by the Response
Date, the SPT Metric Effective Date will not occur.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(III)</TD><TD STYLE="text-align: justify">if the Majority Lenders do not approve an SPT Metric Adjustment Proposal in accordance with paragraph
(A) above by the Response Date, the Canadian Borrower shall be afforded one (1) opportunity to submit a revised SPT Metric Adjustment
Proposal within five (5) Business Days of the Response Date and the provisions of (B)(I) and (B)(II) above shall apply to such proposal
(subject to a revised Response Date of five (5) Business Days following the Response Date).</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Subject to Section 4.14(a), the Applicable Margin will be increased or decreased (if applicable) by the
Applicable Sustainability Margin Adjustment as in effect from time to time. For the purposes of the foregoing, commencing with the Sustainability
Certificate to be delivered for the Fiscal Year ending December 31, 2022:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Applicable Sustainability Margin Adjustment shall be effective on the earlier of the third Business
Day following receipt by the Administration Agent of a Sustainability Certificate delivered in accordance with Section 8.2(h)(iv) or,
if the Borrower does not deliver a Sustainability Certificate as contemplated by Section 8.2(h)(iv), the third Business Day following
the last day on which the Sustainability Certificate was required to be delivered (such day, the &#8220;<B>Sustainability Margin Adjustment
Date</B>&#8221;);</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Applicable Sustainability Margin Adjustment shall be based upon the SPT Metrics set forth in the Sustainability
Certificate and the Applicable Sustainability Margin Adjustment calculations therein; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each change in the Applicable Margin resulting from a Sustainability Certificate shall be effective during
the period commencing on, and including, the applicable Sustainability Margin Adjustment Date and ending on the date immediately preceding
the next such Sustainability Margin Adjustment Date.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">If, for any reason (subject to the below), the Canadian Borrower fails to deliver a Sustainability Certificate
as contemplated by Section 8.2(h)(iv), the Applicable Sustainability Margin Adjustment shall be calculated based on:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">SPT Metric Level III for the GHG Emission Intensity SPT Metric for the Fiscal Year ending on December
31, 2022; and</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">SPT Metric Level V for the GHG Emission Intensity SPT Metric for the Fiscal Years ending on December 31,
2023 through December 31, 2026;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">SPT Metric Level III for the Percentage of Women in Management Roles SPT Metric; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">SPT Metric Level III for the Percentage of WELL Certified Properties SPT Metric,</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 0pt 1in; text-align: justify; text-indent: 0in">until the delivery of
such Sustainability Certificate; provided that if the Canadian Borrower determines, in good faith, that it is not possible to calculate
a SPT Metric for any Fiscal Year for whatever reason (the &#8220;<B>Unused SPT Metric</B>&#8221;), the Canadian Borrower and the Sustainability
Structuring Agent will negotiate to agree on the selection of an alternative measure that is customarily applied by persons carrying out
similar businesses or being subject to similar incentives in lieu of the Unused SPT Metric (the &#8220;<B>Alternative SPT Metric</B>&#8221;)
and after twenty (20) Business Days from the day on which the Canadian Borrower was originally due to deliver a Sustainability Certificate
in accordance with 8.2(h)(iv) (or such longer period as may be agreed to by the Administration Agent):</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: 1in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">if the Canadian Borrower and the Sustainability Structuring Agent agree on the selection of an Alternative
SPT Metric and such Alternative SPT Metric is approved by the Majority Lenders (with each Lender acting reasonably in considering such
approval), the Applicable Sustainability Margin Adjustment shall be calculated based on the Alternative SPT Metric and the SPT Metrics,
excluding the Unused SPT Metric;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">if the Canadian Borrower and the Sustainability Structuring Agent do not agree on the selection of an
Alternative SPT Metric or such Alternative SPT Metric is not approved by the Majority Lenders (with each Lender acting reasonably in considering
such approval), the Applicable Sustainability Margin Adjustment shall be calculated based on the SPT Metrics, excluding the Unused SPT
Metric; and</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: 1in"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify">the Canadian Borrower shall deliver a Sustainability Certificate containing the Applicable Sustainability
Margin Adjustment calculated on the basis of either (x) or (y) above.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">If (i) the Canadian Borrower or the Administration Agent becomes aware of any material inaccuracy in the
Applicable Sustainability Margin Adjustment or the SPT Metrics as reported on the applicable Sustainability Certificate, or (ii) the Canadian
Borrower and the Administration Agent agree that the Applicable Sustainability Margin Adjustment or SPT Metrics as calculated by the Canadian
Borrower at the time of delivery of the relevant Sustainability Certificate was inaccurate and, in each case, (x) a proper calculation
of the Applicable Sustainability Margin Adjustment or the SPT Metrics would have resulted in an increase in the Applicable Margin for
such period, the Canadian Borrower shall immediately and retroactively be obligated to pay to the Administration Agent, for the account
of the Lenders, an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount
of interest and fees actually paid for such period, or (y) a proper calculation of the Applicable Sustainability Margin Adjustment or
the SPT Metrics would have resulted in a decrease in the Applicable Margin for such period, the Canadian Borrower shall receive a credit
against subsequent interest payable on Loans or fees payable pursuant to this Agreement, as the case may be, in an amount equal to the
excess of the amount of interest and fees actually paid for such period over the amount of interest and fees that should have been paid
for such period.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Within sixty (60) Business Days of the SBTi&#8217;s notice to the Canadian Borrower confirming its validation
of the Science-based Target, the Canadian Borrower shall notify the Sustainability Structuring Agent in writing (an &#8220;<B>SBTi Validation
Notice</B>&#8221;).</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">If the SBTi-Approved Targets constitute a material increase or decrease from the GHG Emission Intensity
SPT Metric, the Canadian Borrower and the Sustainability Structuring Agent may amend this Agreement (such amendment, the &#8220;<B>SBT
Amendment</B>&#8221;) solely for the purpose of updating the GHG Emission Intensity SPT Metrics into this Agreement, and any such amendment
shall become effective at 5:00 p.m. on the fifth Business Day after the Administration Agent shall have posted such proposed amendment
to all Lenders and the Canadian Borrower unless, prior to such time, Lenders comprising the Majority Lenders have delivered to the Administration
Agent (who shall promptly notify the Canadian Borrower) written notice that such Majority Lenders object to such SBT Amendment (with each
Lender acting reasonably in considering such request). In the event that Majority Lenders deliver a written notice objecting to any such
SBT Amendment, the Applicable Sustainability Margin Adjustment based on the SPT Metrics set herein shall continue to apply.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Until the delivery of such SBTi Validation Notice; the Applicable Sustainability Margin Adjustment shall
continue to be based on the SPT Metrics set out herein.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The Canadian Borrower shall provide prompt written notice to the Sustainability Structuring Agent of the
occurrence of any of the following events (each such event, a &#8220;<B>Recalculation Event</B>&#8221;):</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">in the event of any Acquisition, disposition, merger or similar transaction or series of related transactions
consummated by the Canadian Borrower or any of its Subsidiaries where as a result of the consummation of the applicable transaction or
series of transactions, (i) the aggregate amount of Scope 1 Emissions and Scope 2 Emissions in connection with the applicable transaction
or series of transactions, would reasonably be expected to increase or decrease the Scope 1 Emissions and Scope 2 Emissions immediately
prior to the consummation of such transaction by at least 5.00% (such calculations to be determined in good faith by Canadian Borrower),
(ii) the aggregate number of Management Roles in connection with the applicable transaction or series of transactions, would reasonably
be expected to increase or decrease the Management Roles immediately prior to the consummation of such transaction by at least 5.00% (such
calculations to be determined in good faith by Canadian Borrower), or (iii) the aggregate amount of Sustainability Eligible Locations
in connection with the applicable transaction or series of transactions, would reasonably be expected to increase or decrease the Sustainability
Eligible Locations immediately prior to the consummation of such transaction by at least 5.00% (such calculations to be determined in
good faith by Canadian Borrower); or</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a material update to the WELL Health Safety Rating methodology that impacts the Canadian Borrower&#8217;s
ability to obtain or maintain certifications,</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 0pt 1in; text-align: justify; text-indent: 0in">and in each such Recalculation
Event, if (A) the Canadian Borrower and the Sustainability Structuring Agent (with the consent of the Majority Lenders) agree on the selection
of an Alternative SPT Metric, then the Applicable Sustainability Margin Adjustment shall be calculated based on such Alternative SPT Metric
and the unaffected SPT Metric(s); or (B) the Canadian Borrower and the Sustainability Structuring Agent do not agree on the selection
of any such Alternative SPT Metric or the Majority Lenders do not consent to the Alternative SPT Metric, then the Applicable Sustainability
Margin Adjustment shall be calculated based on the SPT Metrics (including any Alternative SPT Metric agreed in paragraph (a) above), excluding
the SPT Metric upon which no agreement for an Alternative SPT Metric was reached.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">It is understood and agreed by the parties hereto that the Agents, including for avoidance of doubt the
Sustainability Structuring Agent, make no assurances as to (i) whether this Agreement meets any criteria or expectations of any Borrower
or any Lender with regard to environmental impact and sustainability performance, or (ii) whether the characteristics of the relevant
sustainability performance targets and/or key performance indicators included in the Agreement, including any environmental and sustainability
criteria or any computation methodology with respect thereto, meet any industry standards for sustainability-linked credit facilities.
It is further understood and agreed that neither the Agents, including for avoidance of doubt the Sustainability Structuring Agent, shall
have any responsibility for (or liability in respect of) reviewing, auditing or otherwise evaluating any calculation by the Canadian Borrower
of (x) the relevant sustainability performance targets and/or key performance indicators or (y) any Applicable Sustainability Margin Adjustment
(or any of the data or computations that are part of or related to any such calculation) set forth in any Sustainability Certificate (and
the Agents may rely conclusively on any such certificate, without further inquiry, when implementing any such pricing adjustment). BMO
Capital Markets, in its capacity as Sustainability Structuring Agent, shall have the same immunities, indemnities and exclusions from
liability as are prescribed in favour of the Agents and Lenders in this Agreement, which shall apply mutatis mutandis.</TD></TR></TABLE>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;5</FONT><BR>
&#8211;&nbsp;CONDITIONS PRECEDENT</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">5.1</TD><TD STYLE="text-align: justify">Conditions Precedent to Effectiveness of this Agreement</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">The Lenders&#8217; and Issuing Banks&#8217; agreement
to the effectiveness of this Agreement is subject to and conditional upon the satisfaction of each of the following conditions:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">there shall exist no Default or Event of Default; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the representations and warranties set out in Section 8.1 would, if made on the Effective Date, be true
and accurate in all material respects;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Administration Agent shall have received this Agreement duly executed by the Borrowers, the Guarantors,
the Lenders, the Administration Agent, the Canadian Agent, the U.S. Agent, the European Agent and the Australian Agent;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the following shall have been delivered to the Administration Agent, in each case, in form and substance
satisfactory to the Administration Agent and Lenders&#8217; Counsel and in the case of clause (iii) of this paragraph (d), in form and
substance satisfactory to the U.S. Lender, UK Lender, Colliers EMEA Lender or Australian Lender referred to therein:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">certified copies of the articles and certificate of incorporation or constitution, including any amendments
thereto or certificate on change of name, of each of the Borrowers and the Guarantors, their respective borrowing by laws, if any, any
applicable shareholders agreements (but only to the extent there have been any changes to such items since last delivered in connection
with the First Amended and Restated Credit Agreement) and resolutions of their respective boards of directors or certificate of an officer
or director, as applicable, authorizing the execution, delivery and performance of this Agreement and the Continuing Guarantees by them
respectively;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the certificate (without personal liability) of the president, the chief financial officer or treasurer
or officer or director, as applicable, of each of the Borrowers and the Guarantors confirming, in all material respects, the veracity
of the representations and warranties set out in Section 8.1, substantially as set out in Schedule &#8220;G&#8221; supplemented by all
such certificates as Lenders&#8217; Counsel may require;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">promissory note(s) requested by a U.S. Lender, UK Lender, Colliers EMEA Lender, or Australian Lender;
and</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">incumbency certificates setting forth the signatures and titles of Authorized Signatories for each Borrower,
certifying their authority to sign this Agreement and any documents contemplated hereby or provided in connection herewith.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the Administration Agent shall have received the opinions in form and substance satisfactory to the Administration
Agent, the Lenders and the Lenders&#8217; Counsel of each of Borrowers&#8217; and Guarantors&#8217; Canadian Counsel, Borrowers&#8217;
and Guarantors&#8217; U.S. Counsel, Borrowers&#8217; and Guarantors&#8217; Australian Counsel and other local counsel in Reliable Jurisdictions
where Continuing Guarantees are being delivered each addressed to the Administration Agent, the Canadian Agent, the U.S. Agent, the European
Agent, the Australian Agent, the Lenders and Lenders&#8217; Counsel;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the Administration Agent shall have received all the Continuing Guarantees or confirmation of such Continuing
Guarantees, as applicable;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">since December 31, 2021, there shall not have occurred any event, act or thing which would have a material
adverse effect on the business, operations or properties of the Borrowers or any Subsidiary or the rights of the Lenders or on the ability
of any Borrower or any Guarantor to perform all its obligations under this Agreement or any Continuing Guarantee;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">the Canadian Agent and/or Administration Agent shall have received an Officer&#8217;s Certificate of the
Canadian Borrower (in form and substance satisfactory to the Canadian Agent and/or Administration Agent) certifying, <I>inter alia</I>,
the insurance policies of the Borrowers and the Subsidiaries and the terms and extent of coverage thereunder;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Lenders shall have received a list disclosing all of the Canadian Borrower&#8217;s Subsidiaries in
existence on the initial Acceptance Date or Drawdown Date or date of issuance of a Letter of Credit;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">the Lenders shall have received the financial information reasonably requested by the Lenders from the
Canadian Borrower; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">the Administration Agent, the Canadian Agent, the U.S. Agent, the European Agent, the Australian Agent,
the Lenders and Lenders&#8217; Counsel shall have received (i) all documents deliverable pursuant to the closing checklist prepared by
Lenders&#8217; Counsel, and (ii) payment of all fees or other amounts then due and payable to them in connection with this Agreement unless
arrangements, satisfactory to the Administration Agent, are made to pay such amounts post-closing.</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: bold 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">5.2</TD><TD STYLE="text-align: justify">Conditions Precedent to Subsequent Borrowings</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">The Lenders&#8217; and Issuing Banks&#8217; obligations
to continue to make available any Borrowings under the Facilities on any Drawdown Date or Acceptance Date or date of issuance, extension
or increase of a Letter of Credit is subject to and conditional upon the satisfaction of each of the following conditions:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">on each Drawdown Date, Acceptance Date or date of issuance of a Letter of Credit:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Canadian Agent and the U.S. Agent, as the case may be, shall have received a notice of the requested
Borrowing or Conversion in accordance with Section 2.2 or 2.3, as applicable, and with respect to Letters of Credit, the Issuing Bank
shall have received an application therefor and any other documents it may require, all in form and substance satisfactory to such Issuing
Bank;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">there shall exist no Default or Event of Default and no Default or Event of Default will occur as a consequence
of such issuance, extension or increase; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the representations and warranties set out in Section 8.1 would, if made on such date, be true and accurate
in all material respects on each such Drawdown Date or Acceptance Date or date of issuance of a Letter of Credit.</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: bold 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">5.3</TD><TD STYLE="text-align: justify">Conditions Precedent to Borrowings to Make Acquisitions</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">The Lenders&#8217; obligations to make available
any Borrowings for acquisitions (other than increases in the interest in a Subsidiary already owned directly or indirectly by a Borrower
and other than acquisitions of Unrestricted Entities) on any Drawdown Date or Acceptance Date are subject to and conditional upon the
satisfaction of each of the following conditions (in addition to the conditions set out in Section 5.1):</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">at least five (5) Business Days prior to such Drawdown Date or Acceptance Date, the Administration Agent
shall have received a certificate (which certificate shall only be required to be delivered for acquisitions having a purchase price or
cost that is equal to or greater than U.S.$30,000,000; provided, however, that the conditions set forth in subsections 5.3(a)(i) - (iii)
below (whether or not required to be reported hereby) shall be met in all circumstances) from the Canadian Borrower&#8217;s chief executive
officer, chief financial officer or treasurer, substantially as in Schedule &#8220;J&#8221;, to the following effect:</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the proposed Borrowing shall be made by a Borrower and the Borrowing shall be used to assist such Borrower
in financing the acquisition of an Eligible Business;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">in the opinion of the Canadian Borrower or, where the Canadian Borrower has identified the existence of
potentially Hazardous Materials, a third party environmental consultant engaged by the Canadian Borrower of experience and reputation
reasonably satisfactory to such Agent certifying that such Eligible Business has been and can continue to be conducted in compliance with
any applicable Environmental Laws and that no material adverse change in the earnings of the applicable Acquisition Entity or the Canadian
Borrower shall result therefrom;</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">that no Event of Default or event which with notice or the passage of time or both will become an Event
of Default or will occur as a consequence of such acquisition; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in the event that Total Debt to Consolidated EBITDA is at 3.25:1 or higher, determined on a pro forma
basis after giving effect to the proposed acquisition, the Borrowers will have received the consent of the Majority Lenders.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;6</FONT><BR>
&#8211;&nbsp;PREPAYMENT, CANCELLATION,<BR>
REALLOCATION, MANDATORY APPLICATION OF CASH PROCEEDS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">6.1</TD><TD STYLE="text-align: justify">Prepayment and Cancellation</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Borrowers may at any time prepay (including the pledging and depositing of cash collateral required
hereunder, as applicable), in whole or in part, Borrowings outstanding under the Facilities and thereby reduce or cancel, as the case
may be, corresponding Commitments by the amount of such prepayment upon giving the Canadian Agent, the U.S. Agent, the European Agent
and/or the Australian Agent, as the case may be, and to the Administration Agent in all cases, at least three (3) Business Days&#8217;
prior written notice, in the case of the Canadian Facilities and the U.S. Facilities, in minimum amounts of U.S.$10,000,000 and multiples
of U.S.$1,000,000 thereafter, in the case of the UK Revolving Facility, the Colliers EMEA Revolving Facility and the Australian Facilities,
in minimum amounts of U.S.$5,000,000 and multiples of U.S.$1,000,000 thereafter. Any such prepayment of Borrowings outstanding under the
Facilities shall be applied against reductions of Commitments and related repayment instalments required to be made under Section&nbsp;3.17
or 3.18 in inverse order of maturity.</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 0pt 1in; text-align: justify">For greater certainty repayments made
under a Revolving Facility or a Swingline Facility pursuant to Section 2.2 do not constitute prepayments under this Section 6.1.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Borrowers may, at any time, reduce or cancel any unused portion of the Commitments, provided that
to the extent any such reduction shall cause any Borrowings outstanding to exceed the Commitments so reduced or cancelled such Borrowers
shall prepay any such excess in accordance with paragraph (a) above.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Any prepayment and reduction or cancellation relating to Bankers&#8217; Acceptances, SOFR Loans, SONIA
Loans, Euribor Loans or Australian Bank Bill Rate Loans shall be made subject to the Borrowers&#8217; obligations under Section&nbsp;7.4
and 7.5(c).</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Any such prepayment and reduction shall reduce the Commitments of the Lenders pro rata according to their
respective Participations.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">At no time may a Borrower cancel all the Canadian Revolving Facility Commitments if other Commitments
are outstanding and have not been cancelled.</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: bold 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">6.2</TD><TD STYLE="text-align: justify">Notice</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">Each notice of prepayment and reduction or cancellation
given pursuant to this Article shall be in the form of Schedule &#8220;B&#8221;, shall be irrevocable and shall specify the date upon
which such prepayment and reduction or cancellation is to be made. A Borrower may not thereafter give a notice of prepayment and reduction
or cancellation of such part of the Facilities for a date other than the date so specified in any previous such notice.</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: bold 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">6.3</TD><TD STYLE="text-align: justify">Status of Lender</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">If, at any time:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Commitment of any Lender is, in accordance with the terms of this Agreement, permanently reduced to
zero;</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all indebtedness owed to such Lender by the Borrowers hereunder or in connection herewith has been finally
and indefeasibly satisfied in full; and</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">such Lender is under no further actual or contingent obligation hereunder;</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">then such Lender shall cease to be a party hereto
and a Lender for the purposes hereof; provided however that all indemnities and provisions of this Agreement for the benefit of such Lender
shall survive termination for the benefit of such Lender.</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: bold 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">6.4</TD><TD STYLE="text-align: justify">Fees</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">Upon cancellation of the Facilities in accordance
with this Article&nbsp;6, all accrued and unpaid fees for the Facilities as provided shall be paid in full on and to such cancellation
date.</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: bold 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">6.5</TD><TD STYLE="text-align: justify">Mandatory Application of Cash Proceeds</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">Each Borrower shall apply 100% of the net cash
proceeds which are derived from the sale or disposition of assets by it or any of its Subsidiaries (other than Unrestricted Entities),
other than in the ordinary course of business, towards repayment of the Principal Amount of Borrowings outstanding from time to time under
the Facilities, except to the extent (a) that such net proceeds are reinvested within 12 months of receipt thereof (unless such time period
is extended with the prior written consent of the Majority Lenders), in the businesses of the Borrowers and their Subsidiaries or (b)
that such net proceeds are less than U.S.$20,000,000 in the aggregate during the term of this Agreement. Any such prepayment shall constitute
a permanent reduction of availability under the Facilities. In the event that all or any part of such net proceeds are in excess of the
amount required to prepay the outstanding indebtedness under the Facilities at such time, (the &#8220;<B>Excess Proceeds</B>&#8221;) the
availability under the Facilities shall be permanently reduced by the amount of such prepayment plus by the amount of the Excess Proceeds.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.6</TD><TD STYLE="text-align: justify">Reallocation</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">The Canadian Borrower may, no more than four (4)
times per annum and with 30 days prior written notice, require that the Administration Agent reallocate, amongst the U.S. Lenders, Canadian
Lenders, UK Lenders and the Colliers EMEA Lenders, the Total Canadian Commitments, the Total U.S. Commitments, the Total UK Commitments
and the Total Colliers EMEA Commitments as directed by the Canadian Borrower, <U>provided</U>, however, that any such reallocation shall
not result in the aggregate of the Total UK Commitments and the Total Colliers EMEA Commitments exceeding $600,000,000 at any time. Application
of such request shall be subject to there being no outstanding Advances under each Facility in excess of the modified Commitment for such
Facility. Any increase in one Facility must have a corresponding decrease in other Facilities. Following an increase in a Facility and
a corresponding reduction in another, the Administration Agent shall make such changes as are necessary to the applicable Schedules &#8220;I&#8221;
hereto to reflect such changes to the Commitments. Notwithstanding the foregoing, should there be an increase in a Facility, the Borrowers
shall attempt to ensure that the effective date of any such increase shall be the maturity date of all SOFR Interest Periods, SONIA Interest
Periods or Euribor Interest Periods, as applicable, and Bankers&#8217; Acceptances, as applicable.</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">If the effective date for such increase is not
on a maturity date of all such SOFR Interest Periods, SONIA Interest Periods or Euribor Interest Periods, as applicable, or Bankers&#8217;
Acceptances, the Borrowers agree that the Agent and the Lenders shall be entitled to terminate any outstanding SOFR Loans, SONIA Loans,
Euribor Loans or Bankers&#8217; Acceptances necessary to ensure that Lenders will have Advances outstanding in respect of the Facilities,
as applicable, based on their Participation. Each Borrower agrees that it shall be bound by the indemnification provisions of Section
7.4 with respect to all breakage costs incurred by an Agent or any Lender with respect to the termination of any existing SOFR Loans,
SONIA Loans, Euribor Loans or Bankers&#8217; Acceptances for such purposes.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;7</FONT><BR>
&#8211;&nbsp;SPECIAL SOFR, SONIA, EURIBOR, AUSTRALIAN BANK BILL RATE<BR>
AND INCREASED COST PROVISIONS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">7.1</TD><TD STYLE="text-align: justify">Benchmark Replacement Setting</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><U>Benchmark Replacement.</U> Notwithstanding anything to the contrary herein or in any other Loan Document,
if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to any setting of the then-current Benchmark,
then such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark
setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement
is provided to the Lenders and the Borrower without any amendment to, or further action or consent of any other party to, this Agreement
or any other Loan Document so long as the Agent has not received, by such time, written notice of objection to such Benchmark Replacement
from Lenders comprising the Majority Lenders.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><U>Benchmark Replacement Conforming Changes.</U> In connection with the use, administration, adoption
or implementation of a Benchmark Replacement, the Agent will have the right to make Conforming Changes from time to time and, notwithstanding
anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective
without any further action or consent of any other party to this Agreement or any other Loan Document.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><U>Notices; Standards for Decisions and Determinations.</U> The Agent will promptly notify the Borrower
and the Lenders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Conforming Changes in connection
with the use, administration, adoption or implementation of a Benchmark Replacement. The Agent will promptly notify the Borrower of the
removal or reinstatement of any tenor of a Benchmark pursuant to Section 7.1(d). Any determination, decision or election that may be made
by the Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 7.1, including any determination with respect
to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain
from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion
and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant
to this Section 7.1.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><U>Unavailability of Tenor of Benchmark.</U> Notwithstanding anything to the contrary herein or in any
other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current
Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen
or other information service that publishes such rate from time to time as selected by the Agent in its discretion, acting reasonably,
or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information
announcing that any tenor for such Benchmark is not or will not be representative, then the Agent may modify the definition of &#8220;Interest
Period&#8221; (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or
non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen
or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement
that it is not or will not be representative for a Benchmark (including a Benchmark Replacement), then the Agent may modify the definition
of &#8220;Interest Period&#8221; (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate
such previously removed tenor.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><U>Benchmark Unavailability Period.</U> Upon the Borrower&#8217;s receipt of notice of the commencement
of a Benchmark Unavailability Period, the Borrower may revoke any request for an advance of the applicable Loans, Conversion to or continuation
of the applicable Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower
will be deemed to have converted any such request into a request for a Borrowing of or Conversion to U.S. Base Rate Loans. During any
Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of
U.S. Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination
of U.S. Base Rate.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">If the Canadian Agent (on instruction from any Lender) determines in good faith, which determination will
be final, conclusive and binding upon the Borrowers, and so notifies the Canadian Borrower, that there does not exist at the applicable
time a normal market in Canada for the purchase and sale of Bankers Acceptances, any right of the Canadian Borrower to require the Lenders
to purchase Bankers&#8217; Acceptances and Discount Notes under this Agreement will be suspended until the Canadian Agent determines that
such market does exist and gives notice thereof to the Canadian Borrower and any Drawdown Notice or Conversion Notice requesting Bankers&#8217;
Acceptances will be deemed to be a Drawdown Notice or Conversion Notice requesting a Canadian Prime Rate Loan in a similar aggregate principal
amount.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><U>Australian Provisions</U>.</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Australian Bank Bill Rate</U>. If the Australian Agent (on instruction from any Lender) determines
in good faith, which determination will be final, conclusive and binding upon the Borrowers, and so notifies the Canadian Borrower and
the Australian Borrower, that there does not exist at the applicable time a normal market in which deposits are not being offered to Persons
in Australia with respect to the Australian Bank Bill Rate and adequate and reasonable means do not exist for determining the Australian
Bank Bill Rate, any right of the Australian Borrower to require the Lenders to purchase Australian Bank Bill Rate Loans under this Agreement
will be suspended until the Australian Agent determines that such market does exist and gives notice thereof to the Australian Borrower
and any Drawdown Notice or Conversion notice requesting Australian Bank Bill Rate Loans will be deemed to be a Drawdown Notice or Conversion
Notice requesting an Australian Base Rate Loan in a similar aggregate principal amount.</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Unavailability of AUD Screen Rate</U>. If no AUD Screen Rate is available for the Australian Bank Bill
Rate for the Australian Bank Bill Rate Interest Period of an Australian Bank Bill Rate Loan, the applicable Australian Bank Bill Rate
shall be the Interpolated Screen Rate for a period equal in length to the Australian Bank Bill Rate Interest Period of the Australian
Bank Bill Rate Loan, except where the Australian Bank Bill Rate Loan is in Australian dollars and the Australian Bank Bill Rate Interest
Period is less than the shortest period published for the Australian Bank Bill Rate, in which case it will be the Australian Bank Bill
Rate for the shortest period published for the Australian Bank Bill Rate.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Reference Bank Rate</U>. If no AUD Screen Rate is available for the Australian Bank Bill Rate for the
Australian Bank Bill Rate Interest Period of an Australian Bank Bill Rate Loan and it is not possible to calculate the Interpolated Screen
Rate or other rate under Section 7.1(g)(ii) above, the applicable Australian Bank Bill Rate shall be the Reference Bank Rate as of 11:00am
Sydney time for the currency of that Australian Bank Bill Rate Loan and for a period equal in length to the Australian Bank Bill Rate
Interest Period of that Australian Bank Bill Rate Loan.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"><U>Cost of Funds</U>. If Section 7.1(g)(ii) above applies but no Reference Bank is available for the relevant
currency or Australian Bank Bill Rate Interest Period, the Australian Bank Bill Rate for that Australian Bank Bill Rate Loan will be the
rate of interest notified to the Australian Agent by the Australian Lender to be that which expresses as a percentage rate per annum the
cost to the Australian Lender of funding its participation in that Australian Bank Bill Rate Loan from whatever source it may reasonably
select. That rate is to be notified as soon as practicable and in any event within 10 Business Days of the first day of that Australian
Bank Bill Rate Interest Period. If this paragraph 7.1(g)(iv) applies, the Australian Agent and the Australian Borrower shall enter into
negotiations (for a period of not more than 30 days) with a view to agreeing a substitute basis for determining the rate of interest.
Any alternative basis agreed pursuant to the foregoing sentence shall be binding on all parties.</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><U>Definitions</U>. As used in this Section 7.1(g), the following terms have the following meanings:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">&quot;<B>Interpolated Screen Rate</B>&quot; means, in relation to any Australian Bank Bill Rate Loan,
the rate (rounded to the same number of decimal places as the two relevant AUD Screen Rates) which results from interpolating on a linear
basis between:</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: 2in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the applicable AUD Screen Rate for the longest period (for which that AUD Screen Rate is available) which
is less than the Australian Bank Bill Rate Interest Period of that Australian Bank Bill Rate Loan; and</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: 2in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the applicable AUD Screen Rate for the shortest period (for which that AUD Screen Rate is available) which
exceeds the Australian Bank Bill Rate Interest Period of that Australian Bank Bill Rate Loan,</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: 0in">each as of 11:00am (Sydney,
Australia time) for the currency of that Australian Bank Bill Rate Loan.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">&quot;<B>Prime Bank</B>&quot; means a bank determined by ASX Benchmarks Pty Limited (or any other person
which takes over the administration of the AUD Screen Rate) as being a Prime Bank or an acceptor or issuer of bills of exchange or negotiable
certificates of deposit for the purposes of calculating the AUD Screen Rate. If ASX Benchmarks Pty Limited or such other person ceases
to make such determination, the Prime Banks shall be the Prime Banks last so appointed.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">&#8220;<B>Reference Bank Rate</B>&#8221; means the sum of:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">the following rates:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Australian
Agent at its request by the Reference Banks as the mid discount rate (expressed as a yield percent to maturity) observed by the relevant
Reference Bank for marketable parcels of Australian dollar denominated bank accepted bills and negotiable certificates of deposit accepted
or issued by Prime Banks, and which mature on the last day of the relevant period; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">(if there is no observable market rate for marketable parcels of Prime Bank Australian dollar securities
referred to in paragraph (A) above), the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Australian
Agent at its request by the Reference Banks as the rate at which the relevant Reference Bank could borrow funds in Australian dollars
in the Australian interbank market for the relevant period were it to do so by asking for and then accepting interbank offers for deposits
in reasonable market sizes and for that period; and</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">0.05 per cent per annum.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">&#8220;<B>Reference Banks</B>&#8221; means the principal office in Sydney of HSBC Bank Australia or such
other entities as may be appointed by the Australian Agent in consultation with the Australian Borrower.</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: bold 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">7.2</TD><TD STYLE="text-align: justify">Increased Cost</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">If the introduction of, or any change in, Applicable
Law, regulation, treaty or official directive or regulatory requirement now or hereafter in effect (whether or not having the force of
law) or in the interpretation or application thereof by any court or by any judicial or Governmental Authority charged with the interpretation
or administration thereof, or if compliance by a Lender with any request from any central bank or other fiscal, monetary or other regulatory
authority (other than a change in the relative credit rating or borrowing ability of a Lender) (whether or not having the force of law):</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">subjects any Lender to any Tax, or changes the basis of taxation of payments due to such Lender or increases
any existing Tax, on payments of principal, interest or other amounts payable by a Borrower to such Lender under this Agreement (in each
case, except for Taxes on the net income or capital of such Lender or where such Tax relates to a FATCA Deduction required to be made
by a Party), or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">imposes on any Lender any other condition with respect to this Agreement (except for Taxes on the net
income or capital of such Lender or where such Tax relates to a FATCA Deduction required to be made by a Party),</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">and the result of Sections 7.2(a) or 7.2(b) is
to increase the cost to any Lender or to reduce the income receivable by such Lender in respect of an Advance by any amount, the applicable
Borrower shall pay to the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may be, for the account
of any such Lender, that amount which compensates such Lender for such additional cost or reduction in income (&#8220;<B>Additional Compensation</B>&#8221;)
arising and calculated as and from a date which shall not be earlier than the 30<SUP>th</SUP> day preceding the date the applicable Borrower
receives the notice referred to in the following sentence. Upon any Lender having determined that it is entitled to Additional Compensation,
it shall promptly notify the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may be, and such
Agent shall promptly notify the applicable Borrower. A certificate by any manager of such Lender setting forth the amount of the Additional
Compensation and the basis for it shall be submitted by such Lender to such Agent and forwarded by such Agent, to the applicable Borrower
and, absent manifest error, shall be prima facie evidence of the amount of the Additional Compensation and the applicable Agent shall
debit, from the applicable Borrower&#8217;s accounts, the amount stipulated as Additional Compensation in such certificate in accordance
with Section 10.8.</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">As regards SOFR Loans, SONIA Loans or Euribor
Loans to Canadian Borrower, CMN and U.S. Borrower and Australian Bank Bill Rate Loans only, if an Agent notifies a Borrower pursuant to
this Section 7.2, such Borrower shall have the right, upon written irrevocable notice to that effect delivered to such Agent at least
ten (10) Business Days prior to the end of such SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable,
or Australian Bank Bill Rate Interest Period, as applicable, to repay or convert such Lender&#8217;s Participation in any such SOFR Loan,
SONIA Loan or Euribor Loan, as applicable, or Australian Bank Bill Rate Loan in full, together with payment of accrued interest and the
Additional Compensation to the date of payment, to (a) in the case of the U.S.$, to U.S. Base Rate Loans or U.S. Prime Rate Loans, as
the case may be, or (b) in the case of Australian Dollars, to Australian Base Rate Loans.</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: bold 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">7.3</TD><TD STYLE="text-align: justify">Illegality</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">If the introduction of or change to any present
or future Applicable Law, or any change in the interpretation or application thereof by any Governmental Authority, shall make it unlawful
for any Lender to make or maintain any Loan or to give effect to its obligations in respect of such Loan as contemplated hereby, such
Lender may, by notice to the Borrowers and to the Agents, declare that its obligations hereunder in respect of such Loan shall be terminated,
and thereupon the applicable Borrower shall prepay to the applicable Agent on behalf of such Lender within the time required by such Applicable
Law (or at the end of such longer period as such Lender in its discretion has agreed) all of the Obligations in respect of such Loan including
all amounts payable in connection with such prepayment pursuant to Section 7.4. If there are any types of Loans hereunder that are not
so affected, the applicable Borrower may convert the Loans which are affected into one of the types of Loans that are not affected. Any
prepayment under this Section 7.3 shall not reduce any Lender&#8217;s Commitment.</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: bold 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">7.4</TD><TD STYLE="text-align: justify">Indemnity</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">If a Borrower fails to borrow, convert or prepay
after giving notice to an Agent, or prepays or converts, whether pursuant to Section 6.1, 7.2, 7.3 or 7.5 or otherwise repays pursuant
to Section 6.5, a SOFR Loan, a SONIA Loan, a Euribor Loan a Australian Bank Bill Rate Loan or a Banker&#8217;s Acceptance on a day other
than the last day of a SOFR Interest Period, SONIA Interest Period or Euribor Interest Period, as applicable, or the Australian Bank Bill
Rate Interest Period or BA Maturity Date, as applicable, such Borrower shall indemnify the Lenders for any loss, cost or expense (except
that in the case of prepayment or conversion pursuant to Section 7.3, such loss, cost or expense shall be restricted to actual costs incurred
by the Lenders) incurred in maintaining or redeploying deposits obtained by the Lenders to fund such SOFR Loan, SONIA Loan, Euribor Loan,
Australian Bank Bill Rate Loan or Banker&#8217;s Acceptance. The provisions of Section 11.1(d) shall apply to such indemnification mutatis
mutandis.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.5</TD><TD STYLE="text-align: justify">Other Increased Costs or Reductions in Return</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">If, with respect to any accommodation of any kind or nature provided by the Lenders under this Agreement,
whether by way of Bankers&#8217; Acceptances or otherwise (each accommodation being in this Section 7.5 referred to as an &#8220;<B>Accommodation</B>&#8221;)
and as a result of the introduction of or any change in any law, regulation, rule or order or in its interpretation or administration
or by reason of any compliance with any guideline, request or requirement from any fiscal, monetary or other authority (other than a change
in the relative credit rating or borrowing ability of a Lender with respect to such Accommodation) (whether or not having the force of
law) which it is customary for a bank or other lending institutions to comply with in respect of all its loans or facilities of similar
type in Canada, the U.S., the UK, the Netherlands or Australia, as the case may be, in relation to Facilities made available to the Borrowers:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any Lender incurs a cost (which it would not otherwise have incurred) or becomes liable to make a payment
(calculated with reference to the Borrowings outstanding under an Accommodation) with respect to continuing to provide or maintain an
Accommodation (other than Taxes imposed on the net income or capital of such Lender);</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any reserve, special deposit, capital or similar requirement is imposed or increased with respect to an
Accommodation increasing the cost thereof to any Lender; or</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">any Lender suffers a reduction in its effective return on the Effective Date, on the transactions contemplated
under this Agreement (as determined by such Lender after taking into account any reduction in the rate of return (before Tax) on its overall
capital arising as a consequence of compliance with any such guideline, request or requirement as aforesaid);</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 0pt 1.5in; text-align: justify">then the Borrowers shall, subject to
the terms and conditions hereof, pay to such Lender such amount (the &#8220;<B>Additional Other Compensation</B>&#8221;) as will compensate
the Lender for and will indemnify the Lender against such increase in costs or reduction of rate of return with respect to the Facilities
(arising and calculated as and from a date which shall not be earlier than the 30<SUP>th</SUP> day preceding the date a Borrower receives
notice from the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may be, pursuant to Section 7.5(b)
below).</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Lender shall, forthwith, after incurring a cost as set out in Section 7.5(a)(i), suffering an increase
in cost as set out in Section 7.5(a)(ii) or suffering a reduction in its effective return as set out in Section 7.5(a)(iii) (each being
in this Section referred to as an &#8220;<B>Event</B>&#8221;) entitling the Lender to the payment of Additional Other Compensation and
the Lender determining to claim such Additional Other Compensation, shall give notice to the Canadian Agent, the U.S. Agent, the European
Agent or the Australian Agent, as the case may be, of the Additional Other Compensation claimed with details of the Event giving rise
thereto and such Agent shall promptly provide a copy of such notice to the applicable Borrower. Such Lender shall at that time or within
20 days thereafter provide to such Agent a certificate setting out in reasonable detail a compilation of the Additional Other Compensation
claimed (and where appropriate the Lender&#8217;s reasonable allocation to a Facility of Additional Other Compensation with respect to
the aggregate of such similar facilities granted by the Lender affected by such Event) or, if the Lender is then unable to determine the
Additional Other Compensation or the method of compilation thereof, an estimate of such Additional Other Compensation and/or the method
or the basis on which the Lender estimates the calculation will be made which estimate will be confirmed or adjusted by the aforesaid
certificate. Such Agent shall promptly provide a copy of such certificate to the applicable Borrower. The certificate of the Lender with
respect to the Additional Other Compensation shall, absent manifest error, constitute prima facie evidence of the amount payable. The
Borrower shall, within 60 days of receipt of such notice from the Lender, pay to such Agent, for the account of the Lender, the Additional
Other Compensation (or the estimated Additional Other Compensation) claimed but if the Additional Other Compensation claimed and paid
is greater or lesser than the Additional Other Compensation as finally determined, the Lender or the Borrower, as the case may be, shall
pay to the other the amount required to adjust the payment to the Additional Other Compensation required to be paid. The obligation to
pay such Additional Other Compensation for subsequent periods will continue, subject as herein provided, until the earlier of the termination
of the Accommodation affected by the Event referred to in the notice given by the Lender to such Agent or the lapse or cessation of the
Event giving rise to the Additional Other Compensation.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Within 120 days of receipt of the above mentioned notice from such Agent, the Borrower may notify such
Agent that it elects to repay or cancel, as the case may be, an Accommodation with respect to which Additional Other Compensation is claimed,
or such Lender&#8217;s Participation therein, and, if such election to repay or cancel is made, the Borrower shall 45 days after the giving
of the notice of election to repay or cancel to such Agent (for distribution to the Lenders or to such Lender, as the case may be) such
Accommodation or Participation, as the case may be, pay or cancel the same, together with payment of accrued interest, if any, and the
Additional Other Compensation (or the estimated Additional Other Compensation) applicable thereto calculated to the date of such repayment
or cancellation. If any such repayment constitutes a prepayment of Bankers&#8217; Acceptances, the Canadian Borrower or CMN, as applicable,
shall deposit with the Canadian Agent (for the benefit of the Canadian Lenders involved) an amount equal to the face amount of all Bankers&#8217;
Acceptances then outstanding which are to be prepaid (the &#8220;<B>Prepaid Bankers&#8217; Acceptances</B>&#8221;). The Canadian Agent
shall, upon maturity of the Prepaid Bankers&#8217; Acceptances, apply the sum so deposited against payment of the Prepaid Bankers&#8217;
Acceptances and remit to the Canadian Borrower or CMN, as applicable, the interest earned on the sum deposited.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">For greater certainty, the costs referred to in Section 7.5(a) which may be included in Additional Other
Compensation shall not include costs (i) which have already been factored into the Canadian Prime Rate, the U.S. Base Rate, the U.S. Prime
Rate or the Australian Base Rate, as the case may be or (ii) which are attributable to staff time and related administrative costs incurred
in the preparation and submission of compliance reports.</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: bold 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">7.6</TD><TD STYLE="text-align: justify">Additional Cost in Respect of Tax; UK and Australian Tax Matters</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each payment to be made by a Borrower or a Guarantor hereunder or in connection herewith to any other
party hereto shall be made free and clear of and without a Tax Deduction (except for Taxes on the net income or capital of a Lender or
Taxes resulting from such Lender changing its residency for Tax purposes) unless a Borrower or such Guarantor is required to make such
a Tax Deduction payment, in which case such Borrower or such Guarantor in respect of which such Tax Deduction is required to be made shall
pay an additional amount to ensure that, after the making of such Tax Deduction, such other party hereto receives and retains (free from
any liability in respect of any such Tax Deduction) a net sum equal to the sum which it would have received and so retained had no such
Tax Deduction withholding been made or required to be made.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If any Lender or any Agent, on behalf of such Lender or on its own behalf, is required by law to make
any payment on account of Tax (except for Taxes on the overall net income or capital of such Lender or Agent or Taxes resulting from such
Lender or Agent changing its residency for tax purposes or where such Tax relates to a FATCA Deduction required to be made by a Party)
on or in relation to any sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) hereunder
by such Lender or such Agent, or any liability in respect of any such payment is asserted, imposed, levied or assessed against such Lender
or such Agent, the applicable Borrower and the Guarantors, as applicable will, upon demand of such Lender or Agent, promptly indemnify
such Lender or Agent (as the case may be) against such payment or liability, together with any interest, penalties and expenses payable
or incurred in connection therewith. If a Lender or Agent has paid over on account of Tax (other than Taxes excepted above) an amount
paid to such Lender or Agent by a Borrower or a Guarantor pursuant to the foregoing indemnification and the amount so paid over is subsequently
refunded to such Lender or Agent, in whole or in part, such Lender shall promptly remit such amount refunded to such Borrower or Guarantor,
as the case may be.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The provisions of this Section 7.6(c) shall apply (and the provisions of Sections 7.6(a) and (b) shall
not apply) to any advance under any Loan Document to the Dutch Borrower on the payment of any amount of interest by the Dutch Borrower
(the Dutch Borrower being a &#8220;<B>Relevant Borrower</B>&#8221; for the purposes of this Section (c)) to any Lender.</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Tax Indemnity</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Relevant Borrower shall (within ten (10) Business Days of demand by the European Agent) pay to a Lender
an amount equal to the loss, liability or cost which that Lender determines will be or has been (directly or indirectly) suffered for
or on account of Taxes by that Lender in respect of a Loan Document.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Clause (i)(A) above shall not apply:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">with respect to any Taxes assessed on a Lender:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender is incorporated or, if different, the jurisdiction
(or jurisdictions) in which such Lender is treated as resident for tax purposes; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender&#8217;s Lending Office is located in respect of
amounts received or receivable in such jurisdiction,</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 0pt 2in; text-align: justify">if such Taxes are imposed on or calculated
by reference to the net income received or receivable by, or on the capital of, such Lender;</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">to the extent a loss, liability or cost is compensated for by an increased payment under Section (c),</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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">to a FATCA Deduction required to be made by a Party, or</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: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">to a Tax payment required to be made because a Lender or Agent has changed its jurisdiction of residence
or its lending office for Tax purposes.</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">A Lender making, or intending to make a claim under Section 7.6(c)(i)(A) above shall promptly notify European
Agent of the event which will give, or has given, rise to the claim, following which European Agent shall notify the Borrowers.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">A Lender shall, on receiving a payment from the Relevant Borrowers under this Section 7.6(c), notify European
Agent.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Tax Credit</U>. If a Relevant Borrower makes a Tax payment pursuant to Section&nbsp;7.6(c)(i)(A) and
the relevant Lender:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">obtains a Tax Credit that is attributable either to an increased payment of which that Tax payment forms
part, or to that Tax payment; and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">receives an actual refund of Tax,</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 0pt 1.5in; text-align: justify">the Lender shall promptly following
receipt of such Tax Credit pay an amount to the Relevant Borrower which that Lender determines will leave it (after that payment) in the
same after-Tax position as it would have been in had the Tax payment not been required to be made by the Relevant Borrower.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Value Added Tax</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">All amounts set out or expressed in a Loan Document to be payable by any party to any Lender which (in
whole or in part) constitute the consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which
is chargeable on such supply or supplies, and accordingly, subject to clause (B) below, if VAT is or becomes chargeable on any supply
made by any Lender to any party under a Loan Document, that party shall pay to the Lender (in addition to and at the same time as paying
any other consideration for such supply) an amount equal to the amount of such VAT (and such Lender shall promptly provide an appropriate
VAT invoice to such party).</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">If VAT is or becomes chargeable on any supply made by any Lender (the &#8220;<B>Supplier</B>&#8221;) to
any other Lender (the &#8220;<B>Recipient</B>&#8221;) under a Loan Document, and any party other than the Recipient (the &#8220;<B>Relevant
Party</B>&#8221;) is required by the terms of any Loan Document to pay an amount equal to the consideration for such supply to the Supplier
(rather than being required to reimburse the Recipient in respect of that consideration),</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">(where the Supplier is the person required to account to the relevant tax authority for the VAT), the
Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of VAT;
the Recipient must (where this subsection (B)(1) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment
the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that
supply; and</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">(where the Recipient is the person required to account to the relevant tax authority for the VAT), the
Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that
supply. The Recipient must (where this subsection (B)(2) applies) promptly pay to the Relevant Party an amount equal to any credit or
repayment from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply.</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">Where a Loan Document requires any party to reimburse or indemnify a Lender for any cost or expense incurred
in connection with such Loan Document, the reimbursement or indemnity (as the case may be) shall be for the full amount of such cost or
expense, including such part thereof as represents VAT, save to the extent that such Lender reasonably determines that it is entitled
to credit or repayment in respect of such VAT from the relevant tax authority.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">Any reference in this Section 7.6(c) to any party shall, at any time when such party is treated as a member
of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative member
of such group at such time (the term &#8220;representative member&#8221; to have the same meaning as in the Dutch Value Added Tax Code).</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: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">In relation to any supply made by a Lender to any party under a Loan Document, if reasonably requested
by such Lender, that party must as promptly as reasonably practicable provide such Lender with details of that party&#8217;s VAT registration
and such other information as is reasonably requested in connection with such Lender&#8217;s VAT reporting requirements in relation to
such supply.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">Except as otherwise expressly provided in Section 7.6(c), a reference to &#8220;determines&#8221; or &#8220;determined&#8221;
in connection with tax provisions contained in Section 7.6(c) means a determination made in the absolute discretion of the person making
the determination, acting reasonably.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The provisions of this Section 7.6(d) shall apply (and the provisions of Sections 7.6(a) and (b) shall
not apply), to any advance under any Loan Document to Colliers EMEA or the UK Borrower on the payment of any amount of interest by those
Persons (each a &#8220;<B>Relevant Borrower</B>&#8221; for the purposes of this Section 7.6(d)) to any Lender.</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Solely for the purposes of this Section 7.6(d), the following terms shall have the following meanings:</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 0pt 1.5in; text-align: justify">&#8220;<B>Qualifying Lender</B>&#8221;
means:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a Lender (other than a Lender within clause (b) of the definition of Qualifying Lender) which is beneficially
entitled to interest payable to that Lender in respect of an advance under a Loan Document and is:</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" 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: 2in; text-align: right"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Lender;</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: 2.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">that is a bank (as defined for the purpose of section 879 of the <I>Income Tax Act </I>2007 (the &#8220;<B>ITA</B>&#8221;))
making an advance under a Loan Document; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">in respect of an advance under a Loan Document by a person that was a bank (as defined for the purpose
of section 879 of the ITA) at the time that such advance under a Loan Document was made,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">and, in each case, which is within the
charge to United Kingdom corporation tax with respect to any payments of interest made in respect of that advance or would be within such
charge as respects such payments apart from Section 18A of the <I>Corporation Tax Act </I>2009 (the &#8220;<B>CTA</B>&#8221;); or</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: 2in; text-align: right"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a Lender which is:</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: 2.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">a company resident in the United Kingdom for United Kingdom tax purposes;</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: 2.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">a partnership, each member of which is:</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: 3in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">a company so resident in the United Kingdom; or</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: 3in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA)
the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits
(within the meaning of section 19 of the CTA) of that company; or</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" 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: 2in; text-align: right"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">a Treaty Lender; or</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: 1.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a Lender which is a building society (as defined for the purposes of section 880 of the ITA) making an
advance under a Loan Document.</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 0pt 1.5in; text-align: justify">&#8220;<B>Tax Confirmation</B>&#8221;
means a confirmation by a Lender that the person beneficially entitled to interest payable to that Lender in respect of an advance under
a Loan Document is either:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a company resident in the United Kingdom for United Kingdom tax purposes; or</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: 1.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a partnership each member of which is:</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" 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: 2in; text-align: right"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a company so resident in the United Kingdom; or</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: 2in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA)
the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits
(within the meaning of section 19 of the CTA) of that company.</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 0pt 1.5in; text-align: justify"><B>&#8220;Tax Payment&#8221;</B> means
either the increase in a payment made by a Relevant Borrower to a Lender under Section 7.6(d)(ii) or a payment under Section 7.6(d)(iii).</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 0pt 1.5in; text-align: justify">&#8220;<B>Treaty State</B>&#8221; means
a jurisdiction having a double taxation agreement (a &#8220;<B>Treaty</B>&#8221;) with the United Kingdom which makes provision for full
exemption from tax imposed by the United Kingdom on interest.</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 0pt 1.5in; text-align: justify">&#8220;<B>UK Non-Bank Lender</B>&#8221;
means:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a Lender (which falls within clause (a)(ii) of the definition of Qualifying Lender) which is a party to
this Agreement and which has provided a Tax Confirmation to the European Agent; and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">where a Lender becomes a party after the Effective Date, a Transferee which gives a Tax Confirmation in
the Transfer Certificate which it executes on becoming a party.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Tax Gross-up</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">Each Relevant Borrower shall make all payments to be made by it without any Tax Deduction unless a Tax
Deduction is required by law.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">A Relevant Borrower shall, promptly upon becoming aware that it must make a Tax Deduction (or that there
is any change in the rate or the basis of a Tax Deduction) notify the European Agent accordingly. Similarly, a Lender shall promptly notify
the European Agent on becoming so aware in respect of a payment payable to that Lender. If the European Agent receives such notification
from a Lender it shall notify the Relevant Borrower.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">If a Tax Deduction is required by law to be made by a Relevant Borrower, the amount of the payment due
from that Relevant Borrower shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment
which would have been made by the Relevant Borrower if no Tax Deduction had been required.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">A payment shall not be increased under clause ((C)) above by reason of a Tax Deduction on account of Taxes
imposed by the United Kingdom if, on the date on which the payment falls due:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been
a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change
after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty
or any published practice or published concession of any relevant taxing authority; or</TD></TR></TABLE>
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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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<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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">the relevant Lender is a Qualifying Lender solely by virtue of clause (a)(ii) of the definition of Qualifying
Lender, and:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">an officer of H.M. Revenue &amp; Customs has given (and not revoked) a direction (a &#8220;<B>Direction</B>&#8221;)
under section 931 of the ITA which relates to the payment and that Lender has received from the Relevant Borrower making the payment a
certified copy of that Direction; and</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">the payment could have been made to the Lender without any Tax Deduction if that Direction had not been
made; or</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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">the relevant Lender is a Qualifying Lender solely by virtue of clause (a)(ii) of the definition of Qualifying
Lender and:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">the relevant Lender has not given a Tax Confirmation to the Relevant Borrower; and</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">the payment could have been made to the Lender without any Tax Deduction if the Lender had given a Tax
Confirmation to the Relevant Borrower, on the basis that the Tax Confirmation would have enabled the Relevant Borrower to have formed
a reasonable belief that the payment was an &#8220;excepted payment&#8221; for the purpose of section 930 of the ITA; or</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: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">the relevant Lender is a Treaty Lender and the Relevant Borrower making the payment is able to demonstrate
that the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under clause
(ii)(G), (ii)(K) or (vi)(A) (as applicable) below.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">If a Relevant Borrower is required to make a Tax Deduction, that Relevant Borrower shall make that Tax
Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by
law.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">Within thirty days of making either a Tax Deduction or any payment required in connection with that Tax
Deduction, the Relevant Borrower making that Tax Deduction shall deliver to Agent for the benefit of the Lender entitled to the payment
a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Lender that the Tax Deduction has been made
or (as applicable) any appropriate payment paid to the relevant taxing authority.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify">A Treaty Lender and each Relevant Borrower which makes a payment to which that Treaty Lender is entitled
shall co-operate in completing any procedural formalities necessary for that Relevant Borrower to obtain authorization to make that payment
without a Tax Deduction.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify">Nothing in clause (ii)(G) above shall require a Treaty Lender to:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">register under the HMRC DT Treaty Passport scheme;</TD></TR></TABLE>
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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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<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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">apply the HMRC DT Treaty Passport scheme to any advance if it has so registered; or</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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">file Treaty forms if it has included an indication to the effect that it wishes the HMRC DT Treaty Passport
Scheme to apply to this Agreement in accordance with subsections (ii)(K) or (vi)(A) (HMRC DT Treaty Passport scheme confirmation) and
the Relevant Borrower making that payment has not complied with its obligations under subsections (ii)(L) or (vi)(B) (HMRC DT Treaty Passport
scheme confirmation).</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: 1.5in"></TD><TD STYLE="width: 0.5in">(I)</TD><TD STYLE="text-align: justify">A UK Non-Bank Lender which becomes a party on the day on which this Agreement is entered into gives a
Tax Confirmation to European Agent by entering into this Agreement.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(J)</TD><TD STYLE="text-align: justify">A UK Non-Bank Lender shall promptly notify European Agent if there is any change in the position from
that set out in the Tax Confirmation.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(K)</TD><TD STYLE="text-align: justify">A Treaty Lender which becomes a party on the day on which this Agreement is entered into that holds a
passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall include an indication
to that effect (for the benefit of Agent and without liability to any Relevant Borrower) by notifying Agent of its scheme reference number
and its jurisdiction of tax residence.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(L)</TD><TD STYLE="text-align: justify">Where a Lender notifies Agent as described in clause (ii)(K) above each Relevant Borrower shall file a
duly completed form DTTP2 in respect of such Lender with HM Revenue &amp; Customs within 30 days of the date of this Agreement and shall
promptly provide the Lender with a copy of that filing.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(M)</TD><TD STYLE="text-align: justify">If a Lender has not included an indication to the effect that it wishes the HMRC DT Treaty Passport scheme
to apply to this Agreement in accordance with clause (ii)(K) above or clause (vi)(A) (HMRC DT Treaty Passport scheme confirmation), no
Relevant Borrower shall file any form relating to the HMRC DT Treaty Passport scheme in respect of that Lender&#8217;s advance or its
participation in any advance.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Tax Indemnity</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Relevant Borrower shall (within ten (10) Business Days of demand by the European Agent) pay to a Lender
an amount equal to the loss, liability or cost which that Lender determines will be or has been (directly or indirectly) suffered for
or on account of Taxes by that Lender in respect of a Loan Document.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Clause (iii)(A) above shall not apply:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">with respect to any Taxes assessed on a Lender:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender is incorporated or, if different, the jurisdiction
(or jurisdictions) in which such Lender is treated as resident for tax purposes; or</TD></TR></TABLE>
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    <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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- 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 -->

<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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender&#8217;s Lending Office is located in respect of
amounts received or receivable in such jurisdiction,</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 0pt 2in; text-align: justify">if such Taxes are imposed on or calculated
by reference to the net income received or receivable by, or on the capital of, (but not any sum deemed to be received or receivable)
such Lender; or</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">to the extent a loss, liability or cost:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">is compensated for by an increased payment under Section 7.6(d)(ii)(C) (<I>Tax Gross-up</I>);</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">would have been compensated for by an increased payment under Section 7.6(d)(ii)(C) (<I>Tax Gross-up</I>)
but was not so compensated solely because one of the exclusions in Section 7.6(d)(ii)(D) (<I>Tax Gross-up</I>) applied;</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: 2.5in"></TD><TD STYLE="width: 0.5in">3)</TD><TD STYLE="text-align: justify">relates to a FATCA Deduction required to be made by a Party, or</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: 2.5in"></TD><TD STYLE="width: 0.5in">4)</TD><TD STYLE="text-align: justify">arises or increases a Tax payment required to be made because a Lender or Agent has changed its jurisdiction
of residence or its lending office for Tax purposes.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">A Lender making, or intending to make a claim under Section 7.6(d)(iii)(A) above shall promptly notify
European Agent of the event which will give, or has given, rise to the claim, following which European Agent shall notify the Borrowers.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">A Lender shall, on receiving a payment from the Relevant Borrowers under this Section 7.6(d)(iii), notify
European Agent.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"><U>Tax Credit</U>. If a Relevant Borrower makes a Tax payment pursuant to Section&nbsp;7.6(d)(iii)(A)
and the relevant Lender:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">obtains a Tax Credit that is attributable either to an increased payment of which that Tax Payment forms
part, or to that Tax Payment; and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">receives, utilizes or retains that Tax Credit,</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 0pt 1.5in; text-align: justify">the Lender shall as soon as reasonably
practicable following receipt of such Tax Credit pay an amount to the Relevant Borrower which that Lender determines will leave it (after
that payment) in the same after-Tax position as it would have been in had the Tax payment not been required to be made by the Relevant
Borrower.</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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><U>Lender Status Confirmation</U>. Each New Lender shall indicate, in the Transfer Certificate which it
executes on becoming a party, and for the benefit of Agent and without liability to any Relevant Borrower, which of the following categories
it falls within:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">not a Qualifying Lender;</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">a Qualifying Lender (other than a Treaty Lender); or</TD></TR></TABLE>
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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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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">a Treaty Lender.</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 0pt 1.5in; text-align: justify">If a New Lender fails to indicate its
status in accordance with this Section&nbsp;7.6(d)(v), then such New Lender or Lender (as appropriate) shall be treated for the purposes
of this Agreement (including by each Relevant Borrower) as if it is not a Qualifying Lender until such time as it notifies European Agent
which category of Qualifying Lender applies (and European Agent, upon receipt of such notification, shall inform the Relevant Borrower)
and, if applicable, shall return any indemnification payment made by the Relevant Borrower to such Lender. For the avoidance of doubt,
an assignment or transfer shall not be invalidated by any failure of a New Lender to comply with this Section 7.6(d)(v).</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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify"><U>HMRC DT Treaty Passport Scheme Confirmation</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">A New Lender that is a Treaty Lender that holds a passport under the HMRC DT Treaty Passport scheme, and
which wishes that scheme to apply to this Agreement, shall include an indication to that effect (for the benefit of European Agent and
without liability to any Relevant Borrower) in the Transfer Certificate which it executes by including its scheme reference number and
its jurisdiction of tax residence in that Transfer Certificate.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Where a Transfer Certificate includes the indication described in clause (vi)(A) above, each Relevant
Borrower which is a party as a Borrower as at the date that the relevant Transfer Certificate is executed (the &#8220;<B>Transfer Date</B>&#8221;)
shall file a duly completed form DTTP2 in respect of such Lender with HM Revenue &amp; Customs within 30 days of that Transfer Date and
shall promptly provide the Lender with a copy of that filing. The European Agent shall promptly notify each such Borrower that the New
Lender has indicated that the scheme will apply and provide it with any other information reasonably necessary to permit such Borrower
to make such filing.</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: 1in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify"><U>Stamp Taxes</U>. The Relevant Borrowers shall pay and, within three (3) Business Days of demand, indemnify
each Lender against any cost, loss or liability that Lender incurs in relation to all stamp duties, registration or other similar Taxes
payable in respect of any Loan Document.</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: 1in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify"><U>Value Added Tax</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">All amounts set out or expressed in a Loan Document to be payable by any party to any Lender which (in
whole or in part) constitute the consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which
is chargeable on such supply or supplies, and accordingly, subject to clause (B) below, if VAT is or becomes chargeable on any supply
made by any Lender to any party under a Loan Document and such Lender is required to account to the relevant Tax Authority for VAT, that
party shall pay to the Lender (in addition to and at the same time as paying any other consideration for such supply) an amount equal
to the amount of such VAT (and such Lender shall promptly provide an appropriate VAT invoice to such party).</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">If VAT is or becomes chargeable on any supply made by any Lender (the &#8220;<B>Supplier</B>&#8221;) to
any other Lender (the &#8220;<B>Recipient</B>&#8221;) under a Loan Document, and any party other than the Recipient (the &#8220;<B>Relevant
Party</B>&#8221;) is required by the terms of any Loan Document to pay an amount equal to the consideration for that supply to the Supplier
(rather than being required to reimburse or indemnify the Recipient in respect of that consideration;</TD></TR></TABLE>
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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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<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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">(where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant
Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of VAT. The Recipient
must (where this subsection (B)(1) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient
receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">(where the Recipient is the person required to account to the relevant tax authority for the VAT), the
Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that
supply. The Recipient must (where this subsection (B)(2) applies) promptly pay to the Relevant Party an amount equal to any credit or
repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable
on that supply.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">Where a Loan Document requires any party to reimburse or indemnify a Lender for any cost or expense in
connection with such Loan Document, the reimbursement or indemnity (as the case may be) shall be for the full amount of such cost or expense,
including such part thereof as represents VAT, save to the extent that such Lender reasonably determines that it is entitled to credit
or repayment in respect of such VAT from the relevant tax authority.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">Any reference in this Section 7.6(d)(viii) to any party shall, at any time when such party is treated
as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative
member of such group at such time (the term &#8220;representative member&#8221; to have the same meaning as in the United Kingdom <I>Value
Added Tax Act</I> 1994).</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: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">In relation to any supply made by a Lender to any party under a Loan Document, if reasonably requested
by such Lender, that party must as promptly as reasonably practicable provide such Lender with details of that party&#8217;s VAT registration
and such other information as is reasonably requested in connection with such Lender&#8217;s VAT reporting requirements in relation to
such supply.</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 0pt 1.5in; text-align: justify">Except as otherwise expressly provided
in this Section 7.6(d), a reference to &#8220;determines&#8221; or &#8220;determined&#8221; in connection with Tax provisions contained
in Section 7.6(d) means a determination made in the absolute discretion of the person making the determination, acting reasonably.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The provisions of this Section 7.6(e) shall apply (and the provisions of Sections 7.6(a) and (b) shall
not apply), to any advance under any Loan Document to any Australian Borrower on the payment of any amount of interest by those Persons
(each a &#8220;<B>Relevant Borrower</B>&#8221; for purposes of this Section 7.6(e)) to any Lender.</TD></TR></TABLE>
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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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<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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Definitions</U>. Solely for purposes of this Section 7.6(e), the following terms shall have the following
meanings:</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 0pt 1.5in; text-align: justify"><B>&#8220;GST&#8221;</B> has the meaning
given to it in the Australian <I>A New Tax System (Goods and Services) Tax Act 1999</I> (Cth), as shall any other term used in Section
7.6(e)(ix) which is defined for purposes of that Act.</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 0pt 1.5in; text-align: justify"><B>&#8220;Qualifying Lender&#8221;</B>
means, in relation to a Relevant Borrower, an Australian Lender which:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">derives all interest on and all fees payable in connection with any Loan Document in carrying on business
in Australia at or through a &#8220;permanent establishment&#8221; in Australia for the purposes of the Australian <I>Income Tax Assessment
Act 1936</I> (Cth), other than as a limited partner in a VCLP, ESVCLP or AFOF (as those terms are defined for the purposes of that Act);
or</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">is a Treaty Lender with respect to taxes imposed in or under the laws of Australia.</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 0pt 1.5in; text-align: justify"><B>&#8220;Treaty State&#8221;</B> means
a jurisdiction having a double taxation agreement (a &#8220;<B>Treaty</B>&#8221;) with Australia in force in accordance with the Australian
<I>International Tax Agreements Act 1953</I> (Cth), which makes provision for full exemption from tax withheld on interest paid by an
Australian resident to a Treaty Lender.</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Tax Gross-up</U>. Save to the extent required under any Applicable Law, all payments to be made by
a Relevant Borrower to any Australian Lender hereunder or under any Loan Document shall be made free and clear of and without deduction
or withholding for or on account of Taxes. If a Relevant Borrower is required to deduct or withhold any Taxes, or an amount for or on
account of any Taxes from any payment made hereunder or under the Loan Documents to any Australian Lender, such Relevant Borrower (in
respect of which such deduction or withholding is required to be made) shall pay an additional amount to ensure that such Australian Lender
receives a sum equal to the sum that such Australian Lender would have received if no such deduction or withholding (including deductions
or withholdings applicable to any additional amounts paid under this Section 7.6(e)(ii)) had been made; provided, that this Section 7.6(e)(ii)
shall not apply to the extent that such deduction or withholding: (A) relates to any withholding tax imposed under FATCA; (B) the payment
could have been made to the Relevant Lender without such deduction or withholding if the Relevant Lender had been a Qualifying Lender,
but on that date the Relevant Lender is not a Qualifying Lender or has ceased to be a Qualifying Lender other than as a result of any
change after the date it became a Relevant Lender under this Agreement in (or in the interpretation, administration, or application of)
any law or Treaty or any published practice or published concession of any relevant taxing authority; or (C) would not have arisen if
the relevant Australian Lender had complied with its obligations under Section 7.6(e)(v) (<I>Australian Lender&#8217;s Status</I>), or
Section 7.6(e)(vi) (<I>Double Taxation Relief</I>) or Subdivision 12-E of Schedule 1 to the <I>Australian Taxation Administration Act
1953</I> (Cth) to the extent the Australian Lender is required to have a TFN or ABN (as defined for purposes of those provisions) under
Australian law, as the case may be.</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><U>Tax Indemnity</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Relevant Borrower shall (within ten (10) Business Days of demand by the Australian Agent) pay to a
Lender an amount equal to the loss, liability or cost which that Lender determines will be or has been (directly or indirectly) suffered
for or on account of Taxes by that Lender in respect of a Loan Document.</TD></TR></TABLE>
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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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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Clause (iii)(A) above shall not apply:</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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">with respect to any Taxes assessed on a Lender:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender is incorporated or, if different, the jurisdiction
(or jurisdictions) in which such Lender is treated as resident for tax purposes; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">under the law of the jurisdiction in which such Lender&#8217;s Lending Office is located in respect of
amounts received or receivable in such jurisdiction,</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 0pt 2in; text-align: justify">if such Taxes are imposed on or calculated
by reference to the net income received or receivable by, or on the capital of, such Lender; or</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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">to the extent a loss, liability or cost:</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: 2.5in"></TD><TD STYLE="width: 0.5in">1)</TD><TD STYLE="text-align: justify">is compensated for by an increased payment under Section 7.6(e)(ii) (<I>Tax Gross-up</I>);</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: 2.5in"></TD><TD STYLE="width: 0.5in">2)</TD><TD STYLE="text-align: justify">would have been compensated for by an increased payment under Section 7.6(e)(ii) (<I>Tax Gross-up</I>)
but was not so compensated solely because one of the exclusions in that Section 7.6(e)(ii) (<I>Tax Gross-up</I>) applied;</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: 2.5in"></TD><TD STYLE="width: 0.5in">3)</TD><TD STYLE="text-align: justify">to a FATCA Deduction required to be made by a Party; or</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: 2.5in"></TD><TD STYLE="width: 0.5in">4)</TD><TD STYLE="text-align: justify">to a Tax payment required to be made because a Lender or Agent has changed its jurisdiction of residence
or its lending office for Tax purposes.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">A Lender making, or intending to make a claim under Section 7.6(e)(iii)(A) above shall promptly notify
Australian Agent of the event which will give, or has given, rise to the claim, following which Australian Agent shall notify the Borrowers.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">A Lender shall, on receiving a payment from the Relevant Borrowers under this Section 7.6(e)(iii), notify
Australian Agent.</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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"><U>Tax Credit</U>. If a Relevant Borrower makes a Tax payment pursuant to Section&nbsp;7.6(e)(iii)(A)
and the relevant Lender:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">obtains a Tax Credit that is attributable either to an increased payment of which that Tax Payment forms
part, or to that Tax Payment; and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">receives, utilizes or retains that Tax Credit,</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 0pt 1.5in; text-align: justify">the Lender shall as soon as reasonably
practicable following receipt of such Tax Credit pay an amount to the Relevant Borrower which that Lender determines will leave it (after
that payment) in the same after-Tax position as it would have been in had the Tax payment not been required to be made by the Relevant
Borrower.</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 0pt 1.5in; 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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><U>Australian Lender&#8217;s Status</U>. Each Australian Lender certifies to the Agent and the Relevant
Borrowers (on the date hereof or, in the case of an Australian Lender which becomes a party hereto pursuant to a transfer or assignment,
on the date on which the relevant transfer or assignment becomes effective) that it is a Qualifying Lender and each Australian Lender
shall promptly notify the Agent if there is any change in its position from that set out above. Upon receipt of any such notification
from an Australian Lender, the Agent shall promptly notify the Relevant Borrowers thereof. If any Australian Lender is not or ceases to
be a Qualifying Lender or does not comply with or perform the formalities required to be a Qualifying Lender (except by reason of any
Change in Tax Law after the date the Australian Lender becomes a party to this agreement) the Relevant Borrower shall not be liable pursuant
to this Section 7.6(e) to pay with respect to the Australian Lender any amount greater than the amount which the Relevant Borrower would
have been liable to pay pursuant to this Section 7.6(e) with respect to that Australian Lender if that Australian Lender had been, or
had not ceased to be on that date, a Qualifying Lender and had complied with or had performed the formalities required to be a Qualifying
Lender.</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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify"><U>Double Taxation Relief</U>. If, and to the extent that, the effect of Section 7.6(e)(ii) (<I>Tax Gross-up</I>)
or Section 7.6(e)(iii) (<I>Tax Indemnity</I>) can be mitigated by virtue of the provisions of any applicable double taxation agreement
or any applicable tax law (whether by a claim to repayment of any taxes referred to in Section 7.6(e)(ii) (<I>Tax Gross-up</I>) or Section
7.6(e)(iii) (<I>Tax Indemnity</I>) or otherwise) the relevant Australian Lender shall co-operate with the Relevant Borrower with a view
to ensuring the application of such double taxation agreement or applicable tax law so far as relevant.</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: 1in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify"><U>Notification of Requirement to Deduct Tax</U>. If, at any time, a Relevant Borrower is required by
law to make any deduction or withholding from any sum payable by it hereunder or under the other Loan Documents (or if thereafter there
is any change in the rates at which or the manner in which such deductions or withholdings are calculated), such Relevant Borrower shall
promptly notify Agent.</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: 1in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify"><U>Evidence of Payment of Tax</U>. If a Relevant Borrower makes any payment hereunder or under the other
Loan Documents in respect of which it is required to make any deduction or withholding, it shall pay the full amount required to be deducted
or withheld to the relevant taxation or other authority within the time allowed for such payment under Applicable Law and shall, as promptly
as reasonably practicable thereafter, deliver to the Agent on behalf of the Australian Lenders to which such payment was made evidence
of payment as is reasonably satisfactory to Agent.</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: 1in"></TD><TD STYLE="width: 0.5in">(ix)</TD><TD STYLE="text-align: justify"><U>Goods and Services Tax</U>.</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">All amounts set out or expressed in a Loan Document to be payable by any party to any Lender which (in
whole or in part) constitute the consideration for a taxable supply or taxable supplies for GST purposes shall be deemed to be exclusive
of GST and the party liable to make that payment shall pay to the Lender (in addition to and at the same time as paying any consideration
for such supply) an amount equal to the GST payable on that supply, subject to receiving a valid tax invoice from the supplier of that
supply.</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Where a Loan Document requires any party to reimburse or indemnify a Lender for any cost or expense the
reimbursement or indemnity (as the case may be) shall be reduced by the amount of any input tax credit that the Lender (or representative
member of the GST Group of which the Lender is a member) is entitled to.</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: 1in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify"><U>Stamp Taxes</U>. The Borrowers shall:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">pay all stamp duty, registration and other similar Taxes payable in respect of any Loan Document; and</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">within three Business Days of demand, indemnify each Lender against any cost, loss or liability that Lender
incurs in relation to any stamp duty, registration or other similar Tax paid or payable in respect of any Loan Document.</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: bold 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">7.7</TD><TD STYLE="text-align: justify">Claims under Section 7.6</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">A Lender or Agent intending to make a claim pursuant
to Section 7.6 shall deliver to the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may be, reasonably
promptly after becoming aware of the circumstances giving rise to the claim, a certificate to that effect specifying the event by reason
of which it is entitled to make such claim and setting out in reasonable detail the basis and computation of such claim. Such Agent shall
promptly deliver to the applicable Borrower a copy of such certificate.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.8</TD><TD STYLE="text-align: justify">Tax Receipts</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">If at any time a Borrower is required by law to
make any Tax Deductions from any sum payable by it hereunder or in connection herewith (or if thereafter there is any change in the rates
at which or the manner in which such deductions or withholdings are calculated) such Borrower shall promptly notify the Canadian Agent,
the U.S. Agent, the European Agent or the Australian Agent, as the case may be, 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">If a Borrower makes any payment hereunder or in
connection herewith in respect of which it is required by law to make any deduction or withholding it shall pay the full amount to be
deducted or withheld to the relevant taxation or other authority within the time allowed for such payment under Applicable Law and shall
deliver to such Agent within 30 days after it has made such payment to the applicable authority:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a receipt issued by such authority; or</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">other evidence reasonably satisfactory to such Agent evidencing the payment to such authority of all amounts
so required to be deducted or withheld from such payment.</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: bold 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">7.9</TD><TD STYLE="text-align: justify">FATCA Information</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Subject to paragraph (c) below, each Party shall, within ten (10) Business Days of a reasonable request
by another Party:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">confirm to that other Party whether it is:</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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">a FATCA Exempt Party; or</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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">not a FATCA Exempt Party;</TD></TR></TABLE>
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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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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">supply to that other Party such forms, documentation and other information relating to its status under
FATCA as that other Party reasonably requests for the purposes of that other Party&#8217;s compliance with FATCA; and</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">supply to that other Party such forms, documentation and other information relating to its status as that
other Party reasonably requests for the purposes of that other Party&#8217;s compliance with any other law, regulation, or exchange of
information regime.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If a Party confirms to another Party pursuant to paragraph (a)(i) above that it is a FATCA Exempt Party
and it subsequently becomes aware that it is not or has ceased to be a FATCA Exempt Party, that Party shall notify that other Party reasonably
promptly.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Subject to the obligations in Section 7.11(a), paragraph (a) above shall not oblige the Agents, the Lenders,
the Issuing Banks or any security trustee to do anything, and paragraph (a)(iii) above shall not oblige any Party to do anything, which
would or might in its reasonable opinion constitute a breach of:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any law or regulation;</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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any fiduciary duty; or</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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">any duty of confidentiality.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation
or other information requested in accordance with paragraph (a)(i) or (ii) above (including, for the avoidance of doubt, where paragraph
(c) above applies), then such Party shall be treated for the purposes of the Finance Documents (and payments under them) as if it is not
a FATCA Exempt Party until such time as the Party in question provides the requested confirmation, forms, documentation or other information.
As such, the Borrower will make a FATCA Deduction as appropriate and will be reimbursed by the applicable Lender for any penalties resulting
from the fault of the applicable Lender.</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: bold 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">7.10</TD><TD STYLE="text-align: justify">FATCA Deduction</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection
with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction
or otherwise compensate the recipient of the payment for that FATCA Deduction.</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any
change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify
the Borrowers and the relevant Agent and the relevant Agent shall notify the other Agents, the Lenders, the Issuing Banks and any security
trustee.</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: bold 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">7.11</TD><TD STYLE="text-align: justify">Internal Revenue Service Forms</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Prior to any payment being made by a Borrower hereunder, each U.S. Lender and each of their respective
successors and assigns, shall provide the U.S. Borrower (with copies to the U.S. Agent), with (x) properly completed and executed Internal
Revenue Service Forms W8ECI or W8BEN-E or Form W-9, as appropriate, or any successor Forms prescribed by the Internal Revenue Service,
certifying that such Lender is entitled to benefits under an income tax treaty to which the United States is a party which exempts such
Lender from United States withholding tax or certifying that the income receivable by it pursuant to this Agreement is effectively connected
with the conduct of a trade or business in the United States or certifying that such Lender is a U.S. Person as defined by Section 7701(a)(30)
of the Code or (y) solely if such Lender is claiming exemption from United States withholding tax under Section 871(h) or 881(c) of the
Code with respect to payments of &#8220;portfolio interest&#8221;, a Form W8BEN-E, or any successor form prescribed by the Internal Revenue
Service, and a certificate representing that such Lender is not a bank for purposes of Section 881(c) of the Code, is not a ten percent
(10%) shareholder (within the meaning of Section 871(h)(3)(B) of the Code) of the U.S. Borrower and is not a controlled foreign corporation
related to the U.S. Borrower (within the meaning of Section 864(d)(4) of the Code).</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If a payment made to a Lender under this
Agreement or any other Loan Document would be subject to United States withholding Tax imposed by FATCA and if such Lender were to fail
to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as
applicable), such Lender shall deliver to the Agent, at the time or times prescribed by law and at such time or times reasonably requested
by the Agent, such documentation prescribed by Applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by the Agent as may be necessary for the Agent to comply with its obligations under FATCA,
to determine that such Lender has or has not complied with such Lender&#8217;s obligations under FATCA and, as necessary, to determine
the amount to deduct and withhold from such payment. Solely for purposes of this Section 7.11(a), &#8220;FATCA&#8221; shall include any
amendments made to FATCA after the date of this Agreement. Agent shall not be responsible for any Lender&#8217;s failure to be in compliance
with its obligations under FATCA and Agent shall not be responsible to undertake any such Lender&#8217;s obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">For any period with respect to which a U.S. Lender has failed to provide the U.S. Borrower or the U.S.
Agent with the appropriate form referred to in Section 7.11(a) (unless such failure is due to a change in treaty, law or regulation occurring
after the date on which such form originally was required to be provided), such Lender shall not be entitled to indemnification under
Section 7.6 with respect to Taxes imposed by the United States; provided that if a Lender, that is otherwise exempt from or subject to
a reduced rate of withholding tax, becomes subject to Taxes because of its failure to deliver a form required hereunder, the applicable
Borrower shall take such steps as such Lender shall reasonably request to assist such Lender to recover such Taxes.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">7.12</TD><TD STYLE="text-align: justify">Change in Law; Lending Office</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">If a Borrower is required to pay additional amounts
to or for the account of any Lender pursuant to this Section as a result of a change in law or treaty occurring after such Lender first
became a party to this Agreement, then such Lender will, at the Borrower&#8217;s request, change the jurisdiction of its applicable Lending
Office if, in the judgment of such Lender, such change (i) will eliminate or reduce any such additional payment which may thereafter accrue
and (ii) is not otherwise disadvantageous to such Lender.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;8</FONT><BR>
&#8211;&nbsp;REPRESENTATIONS, WARRANTIES &amp; COVENANTS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">8.1</TD><TD STYLE="text-align: justify">Representations and Warranties</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">Each Borrower and each Guarantor represents and
warrants to each of the Agents and each of the Lenders as of the date of this Agreement, all of which representations and warranties shall
survive the execution and delivery of this Agreement, that:</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">each of the Borrowers and the Guarantors which is a corporation or company is duly incorporated, validly
existing and in good standing (where applicable) in all material respects as a corporation or company under the laws of its jurisdiction
of incorporation or formation and has full corporate power, authority and capacity to own its properties and conduct its business and
each of the Borrowers and the Guarantors has the requisite power, authority and capacity to execute, deliver and perform its obligations
to be performed under this Agreement and under the Continuing Guarantee provided or to be provided by it;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all acts, conditions and things required to be done and performed by each Borrower, or to have occurred
prior to the execution, delivery and performance, in the case of each Borrower and each Guarantor of this Agreement and the Continuing
Guarantee provided or to be provided by it to constitute it a binding obligation of such party enforceable against it in accordance with
its terms, have been done and performed, and have occurred in due compliance with all Applicable Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the execution, delivery and performance, in the case of each of the Borrowers and each Guarantor of this
Agreement, any transfer, assignment or assignment and assumption agreement and the Continuing Guarantee provided or to be provided by
it has been duly authorized by all necessary corporate and other action and does not:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">violate any provision of law or any provision of the articles of incorporation, constitution or other
instrument of formation of such party, or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">result in a breach of, a default under, or the creation of any Lien (other than those in favour of the
Agents and the Lenders) on the properties and assets of any Borrower or Guarantor, as the case may be, under any material agreement or
instrument to which it is a party or by which its properties and assets may be bound or affected;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">this Agreement and any transfer, assignment or assignment and assumption agreement in the case of the
Borrowers and each Guarantor and the Continuing Guarantee provided or to be provided by it constitutes, when executed and delivered, binding,
direct obligations of such party, enforceable in accordance with its terms, subject to:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">applicable bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting creditors&#8217;
rights generally and statutes limiting creditors&#8217; rights, including the <I>Personal Property Security Act </I>(Ontario);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the equitable and statutory powers of the courts of appropriate jurisdiction to stay proceedings before
them, to stay the execution of judgments and to award costs;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the discretion of such courts as to the granting of the remedies of specific performance and injunction;
and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">the restriction that Canadian courts can only render judgments in Canadian currency;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">other than as disclosed to the Agents and the Lenders in writing prior to the date hereof, there is no
litigation and there are no legal proceedings pending, or to the best of its knowledge, threatened against any of the Borrowers or any
Guarantor or any Affiliate of a Borrower or any Guarantor before any court or administrative agency of any jurisdiction which is likely
to affect materially and adversely the financial condition, assets or operations of a Borrower or any Guarantor;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">no event has occurred which constitutes or which, with the giving of notice, the lapse of time or both,
would constitute a default under or in respect of any material agreement, undertaking or instrument to which any of the Borrowers or any
Guarantor is a party or to which any of their respective properties or assets may be subject which is likely to affect materially and
adversely, the financial conditions, assets or operations of a Borrower or any Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">other than as disclosed to the Agents and the Lenders in writing prior to the date hereof, each of the
Borrowers and the Guarantors is not in violation, in any material respect, of any term of their respective incorporating instruments or
by laws, and, to the best of each Borrower&#8217;s and each Guarantor&#8217;s knowledge, none of the Borrowers and the Guarantors is in
violation of any material mortgage, franchise, license, judgment, decree, order, statute, rule or regulation which is likely to affect
materially and adversely the financial condition, assets or operations of a Borrower or any Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">(i) each Borrower and each Guarantor has filed all tax returns which were required to be filed, paid all
Taxes (including interest and penalties) which are due and payable by such Borrower or such Guarantor and provided adequate reserves in
its financial statements (as required pursuant to GAAP) for payment of any Tax the payment of which is being contested; (ii) as of the
Effective Date, Australian Borrower is not, nor has it ever been, a member of a GST Group; (iii) under the laws of each Borrower&#8217;s
or Guarantor&#8217;s jurisdiction of incorporation it is not necessary that any Loan Documents be filed, recorded on enrolled with any
court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to any Loan Document;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each of the Borrowers and Guarantors (other than the Canadian Borrower) is a Subsidiary of the Canadian
Borrower;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">as of the date hereof, no other shareholder or group of related or affiliated shareholders of the Canadian
Borrower, other than Jay S. Hennick, owns, directly or indirectly, shares of the Canadian Borrower having voting rights which are equal
to or greater than 30% of the voting rights attached to all outstanding shares of the Canadian Borrower;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">there exists no Default or Event of Default;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">other than as provided under the applicable incorporating or formation statute of any Borrower or any
Guarantor, none of the Borrowers nor any Guarantor is subject to regulation under the <I>Public Utility Holding Company Act</I> of 1935,
the <I>Federal Power Act</I>, the <I>Interstate Commerce Act</I> or the <I>Investment Company Act</I> of 1940 or to any Applicable Law
limiting its ability to incur indebtedness for money borrowed;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">none of the Borrowers nor any Guarantor (A) is by itself, nor is it by virtue of its being under &#8220;common
control&#8221; with any other Person within the meaning of Section 414(b) or (c) of the <I>U.S. Internal Revenue Code of 1986</I>, as
amended from time to time (the &#8220;<B>Code</B>&#8221;), an &#8220;employer&#8221; within the meaning of Section 3(5) of the <I>U.S.
Employee Retirement Income Security Act</I> of 1974, as amended from time to time (&#8220;<B>ERISA</B>&#8221;), in respect of any employee
pension benefit plan covered by Title IV of ERISA or subject to the minimum funding standards under the Code, (B) contributes to, sponsors
or has an obligation to contribute to, or has any liability with respect to, any &#8220;employee welfare benefit plan&#8221; within the
meaning of Section 3(1) of ERISA or other arrangement providing health or life insurance or other welfare-type benefits for current or
future retired or terminated directors, officers or employees other than in accordance with the requirements of Part 6 of Subtitle B of
Title I of ERISA and Section 4890B of the Code, or (C) contributes to, sponsors or maintains a Canadian Defined Benefit Pension Plan;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all Foreign Plans are in compliance with, and have been established, administered and operated in accordance
with, the terms of such Foreign Plans and Applicable Law, except for any failure to so comply, establish, administer or operate the Foreign
Plans as would not reasonably be expected to have a material adverse effect on the business, operations or properties of the Borrowers
or any Subsidiary. All contributions or other payments which are due with respect to each Foreign Plan have been made in full and there
are no funding deficiencies thereunder, except to the extent any such events would not, individually or in the aggregate, reasonably be
expected to have a material adverse effect on the business, operations or properties of the Borrowers or any Subsidiary; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">neither the UK Borrower, Colliers EMEA or any Guarantor domiciled in the UK (1) is or has at any time
been an employer (as defined for the purposes of sections 38 to 51 of the <I>Pensions Act</I> 2004) of an occupational pension scheme
which is not a money purchase scheme (both terms as defined in the <I>Pensions Scheme Act</I> 1993) or (2) is or has at any time been
&#8220;connected&#8221; with or an &#8220;associate&#8221; (as those terms are used in sections 38 and 43 of the <I>Pensions Act</I> 2004)
of such an employer, except to the extent any such events would not, individually or in the aggregate, reasonably be expected to have
a material adverse effect on the business, operations or properties of the Borrowers or any Subsidiary; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">neither the UK Borrower, Colliers EMEA or any Guarantor domiciled in the UK has been issued with a Financial
Support Direction or Contribution Notice in respect of any UK defined benefit pension plan which Financial Support Direction or Contribution
Notice will or would be reasonably likely to have a material adverse effect on the business, operations or properties of the Borrowers
or any Subsidiary.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">no part of the proceeds of the Borrowings will be used for any purpose that violates the provisions of
any of Regulation T, U or X of the Board of Governors of the Federal Reserve System of the United States or any other regulation of such
Board of Governors; none of the Borrowers nor any Guarantor is engaged in the business of extending credit for the purpose of purchasing
or carrying margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States;
none of the Borrowers nor any Guarantor owns any such &#8220;margin stock&#8221;;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">since December 31, 2021, to the best of its knowledge, there has been no material adverse change in the
business, operations, properties, prospects or condition (financial or otherwise) of the Canadian Borrower and its Subsidiaries taken
as a whole;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">none of the Borrowers nor any Guarantor has received any notice, or has any knowledge, that the operations
of a Borrower or any Guarantor are not in compliance, in all material respects, with all applicable Environmental Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">each Borrower and all its Subsidiaries (other than Unrestricted Entities) have valid title to their respective
assets and, without limitation, own or possess or are licensed or otherwise have the right to use all material licenses, permits and other
governmental approvals and authorizations, patents, trademarks, service marks, trade names, copyrights, franchises, authorizations and
other rights that are reasonably necessary for the operations of their respective businesses, without, to the best of the knowledge of
the Borrowers and the Guarantors, conflict with the rights of any other Person with respect thereto;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">each business acquired by a Borrower or any of its Subsidiaries to the date hereof qualifies as an Eligible
Business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">each Borrower and Guarantor has implemented and maintains in effect policies and procedures designed to
ensure compliance by such Borrower and Guarantor, its Subsidiaries and their respective directors, officers, employees and agents with
Anti&#45;Corruption Laws and applicable Sanctions, and such Borrower and Guarantor, its Subsidiaries and their respective officers and
employees and, to the knowledge of such Borrower and Guarantor, its directors and agents, are in compliance with Anti-Corruption Laws
and applicable Sanctions, in all material respects, and are not knowingly engaged in any activity that would reasonably be expected to
result in any Borrower and Guarantor being designated as a Sanctioned Person. None of (i) any Borrower or Guarantor, any Subsidiary or,
to the knowledge of any such Borrower or Guarantor or Subsidiary, any of their respective directors, officers or employees, or (ii) to
the knowledge of any such Borrower or Guarantor or Subsidiary, any agent of such Borrower or Guarantor or any Subsidiary that will act
in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No Borrowing or Letter
of Credit, use of proceeds, Transaction or other transaction contemplated by this Agreement or the other Loan Documents will violate Anti-Corruption
Laws or applicable Sanctions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">if it is an Australian Borrower or Australian Guarantor, (i) the entering into and performance by it of
its obligations under the Loan Documents to which it is expressed to be a party are for its commercial benefit and are in its commercial
interests; and (ii) the entry into and performance by it of its obligations under the Loan Documents to which it is a party do not contravene
Part 2J.3 or Part 2E of the Corporations Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Australian Borrower and Australian Guarantor are not a member of a Tax Consolidated Group;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each Australian Borrower and Australian Guarantor are not (and none of their Subsidiaries are) materially
overdue in the filing of any Tax returns and it is not (and none of their Subsidiaries are) overdue in the payment of any amount in respect
of Tax;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">no claims or investigations are being, or are reasonably likely to be, made or conducted against any Australian
Borrower or Australian Guarantor (or any of their Subsidiaries) with respect to Taxes; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">each Australian Borrower and Australian Guarantor is resident for Tax purposes only in the jurisdiction
of its incorporation;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">the payment obligations of Colliers EMEA, the Dutch Borrower, the UK Borrower and the Australian Borrower
under the Loan Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for
obligations mandatorily preferred by law applying to companies generally; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(w)</TD><TD STYLE="text-align: justify">for the purposes of the Insolvency Regulation, the centre of main interest (as that term is used in Article
3(1) of the Insolvency Regulation) of the UK Borrower, Colliers EMEA, the Dutch Borrower and each Guarantor is situated in its jurisdiction
of incorporation and none of them have an &#8220;establishment&#8221; (as that term is used in Article 2(10) of the Insolvency Regulation)
in any other jurisdiction;</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">neither the UK Borrower nor Colliers EMEA is required to make any Tax Deduction from any payment it may
make under any Loan Document to a Lender which is:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Qualifying Lender:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">falling within (a)(i)(A) of the definition of Qualifying Lender,</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">except where a Direction has been given under section 931 of the ITA in relation to the payment concerned,
falling within paragraph (i)(B) of the definition of Qualifying Lender,</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">falling within paragraph (b) of the definition of &#8220;Qualifying Lender&#8221;, or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a Treaty Lender and the payment is one specified in a direction given by the Commissioners of Revenue
&amp; Customs under Regulation 2 of the Double Taxation Relief (Taxes on Income) (General) Regulations 1970 (SI 1970/488); and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">no Borrower and no Guarantor is an EEA Financial Institution.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">8.2</TD><TD STYLE="text-align: justify">Positive Covenants</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">Each Borrower covenants with each of the Agents
and with each of the Lenders that so long as there shall remain any Borrowings or any other obligations of or affecting any party to this
Agreement:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">it will pay duly and punctually all sums of money due by it under this Agreement at the times and places
and in the manner provided for herein and therein and will cause each Guarantor to do likewise under its guarantee;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">subject to Section 8.3(e), it will maintain, and cause each Subsidiary (other than Immaterial Subsidiaries
and Unrestricted Entities) to maintain, its existence, corporate and otherwise (where applicable), in good standing;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">it will carry on diligently and conduct its business in a proper and efficient manner so as to preserve
and protect its properties, assets 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 (other than Unrestricted Entities) 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 (other than Unrestricted Entities),
without obtaining the prior written consent of the Majority Lenders (which consent shall not be unreasonably withheld);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">it will maintain or cause to be maintained, with responsible and reputable insurers, insurance with respect
to its properties, assets and business and the respective properties, assets and businesses of its Subsidiaries (other than Unrestricted
Entities) against such casualties and contingencies (including public liability) and in such types and in such amounts and with such deductibles
and other provisions as are customarily maintained or caused to be maintained by persons engaged in the same or similar businesses in
the same territories under similar conditions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">it will and will cause each Guarantor to do, execute, acknowledge and deliver or cause to be done, executed,
acknowledged or delivered all such other acts, agreements, instruments and assurances in law as the Agents or Lenders&#8217; Counsel shall
reasonably require for the better accomplishing and effectuating of the intentions and provisions of the Loan Documents;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">it will and will cause its Subsidiaries (other than Unrestricted Entities) to do, observe and perform
all material matters and things necessary or expedient to be done, observed or performed under the laws of any jurisdiction where it or
any of its Subsidiaries carry on business where required for the purpose of carrying on and conducting its business and owning and possessing
its properties and assets and, without limitation, it will maintain at all times in full force and effect all material certificates, permits,
licenses and other approvals required to operate its and their business&#8217; properties and assets; for greater certainty and without
in any way limiting the generality of the foregoing:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Borrower and each of its Subsidiaries (other than Unrestricted Entities) shall be at all times in
compliance in all material respects with all applicable Environmental Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each Borrower shall ensure that each of the real properties or premises owned, leased or occupied by it
or any of its Subsidiaries (other than Unrestricted Entities) is free from contamination by a release, discharge or emission of any Hazardous
Material; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each Borrower and each of its Subsidiaries (other than Unrestricted Entities) shall maintain in effect
and enforce policies and procedures designed to ensure compliance by such Borrowers and Subsidiaries and their respective directors, officers,
employees and agents with Anti-Corruption Laws and applicable Sanctions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">it will (other than with respect to Unrestricted Entities) promptly pay or cause to be paid all Taxes
levied, assessed or imposed upon it and/or its Subsidiaries, and/or its properties and assets or those of its Subsidiaries or any part
thereof and/or upon its income and profits or that of its Subsidiaries, as and when the same shall become due and payable save when and
so long as any such Taxes are in good faith contested by it or those of its Subsidiaries as may be affected thereby;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each Australian Borrower and Guarantor will ensure that (A) so long as it is a member of a consolidated
group for tax purposes there is at all times a valid tax sharing agreement for that consolidated group; and (B) the tax sharing agreement
is amended or replaced to the extent necessary to ensure that it remains a valid tax sharing agreement (having regard to changes in the
composition or activities of the consolidated group); and (C) it is not at any time liable for group liability (as such term is defined
in Section 721-10 of the <I>Income Tax Assessment Act</I> 1997 (Cth)) other than in respect of its own assets and activities (including
as a result of tax consolidation or any tax sharing agreement), in each case except to the extent such Borrower or Guarantor is maintaining
adequate reserves (in the good faith judgment of the management of such Borrower or Guarantor) with respect thereto and the failure to
so comply could not reasonably be expected to result in a material adverse effect on its business, operations or properties; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each Australian Borrower and Australian Guarantor will ensure that it will not become a member of a GST
Group unless the GST Group of which the Australian Borrower or Australian Guarantor becomes a member has a valid ITSA at all times while
the Australian Borrower or Australian Guarantor is a member of that GST Group. The ITSA must be in form and substance reasonably satisfactory
to the Administration Agent except to the extent the failure of the ITSA to be in form and substance reasonably satisfactory to the Administration
Agent could not reasonably be expected to have a material adverse effect on the Australian Borrower or Australian Guarantor&#8217;s business,
operations or properties;</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">it will furnish to the Canadian Agent in sufficient quantities to provide one (1) copy to each Lender
and each Agent:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">as soon as available and in any event within 45 days after the end of each Quarter of each Fiscal Year
(except for the fourth Quarter of each Fiscal Year) of the Canadian Borrower:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">the unaudited consolidated financial statements of the Canadian Borrower as of the end of such Quarter
to be prepared in accordance with GAAP; provided that delivery of the foregoing, in respect of the fourth Quarter for each Fiscal Year
of the Canadian Borrower, may be delivered within 90 days after the end of each such fourth Quarter;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">a certificate accompanying the financial statements required to be delivered in accordance with Section
8.2(h)(i)(A), in the form set out in Schedule &#8220;G&#8221; attached (without personal liability) from the president, the chief financial
officer or treasurer of the Canadian Borrower:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">confirming that such financial statements have not been prepared in a manner and do not contain any statement
which is inconsistent with GAAP, subject to audit and year end adjustment and as may be required to exclude Unrestricted Entities from
the consolidation;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">containing sufficient information to permit each Lender to determine whether the financial covenants contained
in Section&nbsp;8.4 are being maintained, including any adjustments to Consolidated EBITDA as the result of Normalizing Adjustments;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">certifying that, as of the last day of such Quarter, and, to the best knowledge of such officer, as of
the date of such certificate, no Default or Event of Default has occurred and is continuing;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">providing a report on sales or dispositions of assets in excess of an aggregate of U.S.$25,000,000 during
such period;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">providing a report on outstanding hedging contracts entered into by the Canadian Borrower and its Subsidiaries
and the amounts owing under Hedging Agreements; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">providing a report on the aggregate initial investment value of all Unrestricted Entities which continue
to qualify as Unrestricted Entities as at the end of such period;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">as soon as practicable and in any event within 90 days after the end of each Fiscal Year of the Canadian
Borrower:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">a copy of the audited consolidated financial statements of the Canadian Borrower as of the end of such
Fiscal Year, such financial statements of the Canadian Borrower to be prepared in accordance with GAAP;</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">accompanying the audited consolidated financial statements of the Canadian Borrower shall be a report
thereon by independent auditors of recognized standing confirming, without qualification, that such financial statements of the Canadian
Borrower have been prepared in accordance with GAAP and, copies of such auditors&#8217; recommendations, if any; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">a certificate accompanying the financial statements required to be delivered in accordance with Section
8.2(h)(ii)(A), in the form set out in Schedule &#8220;G&#8221; attached (without personal liability) of the president, chief financial
officer or treasurer of the Canadian Borrower:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">containing sufficient information to permit each Lender to determine whether the financial covenants contained
in Section&nbsp;8.4 are being maintained, including details of any adjustments to Consolidated EBITDA as the result of Normalizing Adjustments;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">containing the information required to determine amounts to be paid under Section 6.5;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">certifying that as of the last day of such Fiscal Year, and to the best of the knowledge of such officer,
as of the date of such certificate, no Default or Event of Default has occurred and is continuing; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">providing (I) a breakdown of the EBITDA for each Borrower and its Subsidiaries on an individual basis,
as at the last day of such Fiscal Year and (II) the annual share of EBITDA generated by Borrowers and their Subsidiaries (other than Unrestricted
Entities) in Singapore, in countries which are members of the OECD and/or member countries of the European Union;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">as soon as possible and in any event within ten (10) Business Days after any Borrower or any of its Subsidiaries
receives (A) notice of the commencement thereof, notice of any actions or proceedings against it or any of its Affiliates or against any
of the property of a Borrower or any of its Subsidiaries before any court, governmental agency or arbitrator, which, if determined adversely,
would have a material adverse effect on the financial condition or operations of any Borrower or its Subsidiaries, taken as a whole and
(B) a copy of any Violation Notice received by a Borrower or any of its Subsidiaries;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">(A) within sixty (60) days of the date on which the Sustainability Report for each Fiscal Year is published
on the Canadian Borrower&#8217;s website (which the Canadian Borrower will use commercially reasonable efforts to have published no later
than June 30 of the following Fiscal Year commencing with the Fiscal Year ending December 31, 2022) and no later than October 31 of each
year, a Sustainability Certificate setting out the calculations of each of the SPT Metrics and confirming the verification of the SPT
Metrics for GHG Emission Intensity, the Percentage of Women in Management Positions and Percentage of WELL Certified Properties by the
Sustainability Auditor on a limited assurance basis or specified procedures, and each corresponding adjustment to the Applicable Margin,
as applicable, and the Applicable Sustainability Margin Adjustment; and (B) by no later than the date falling fifteen (15) Business Days
prior to the date by which the Sustainability Certificate for the Fiscal Year ending December 31, 2022 is delivered pursuant to this Section
8.2(h)(iv), the Canadian Borrower will deliver to the Sustainability Structuring Agent the 2021 Baseline Report, <U>provided</U>, <U>however</U>
that notwithstanding anything to the contrary herein, if the 2021 Baseline Report does not verify the Baseline GHG Intensity and the Baseline
Percentage of Women in Management Roles, the Canadian Borrower shall deliver or cause to be delivered to the Sustainability Structuring
Agent and the Administration Agent an SPT Metric Adjustment Proposal in accordance with Section 4.14;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">promptly upon request, such other information concerning the financial affairs or operations of any Borrower
or any of its Subsidiaries as the Administration Agent, the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent,
as the case may be, may reasonably request from time to time including for greater certainty financial statements of the U.S. Borrower,
the UK Borrower, Colliers EMEA, the Dutch Borrower or the Australian Borrower, and if requested by the Administration Agent (acting reasonably
and notwithstanding the reporting requirement in Section 8.2(h)(ii)(C)(4)), the EBITDA of each Subsidiary;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">it will permit from time to time to the Canadian Agent, the U.S. Agent, the European Agent or the Australian
Agent or their representatives or advisers access to its premises, assets and records of meetings of directors and/or of shareholders
upon reasonable (both as to timing and advance notice) request of such Agent;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">it will give to the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, and in
all cases to the Administration Agent, prompt notice of any Event of Default or any event, of which it is aware, which, with the giving
of notice and/or the lapse of time or both, would constitute an Event of Default;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">it will cause any Person (i) 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 sixty (60) days thereof, or such longer period as
the Agent may consent to, or (ii) that existed as at the Effective Date and who subsequently meets the criteria set forth in the definition
of Guarantor, to execute and deliver, as soon as reasonably practicable, the Continuing Guarantee (together with favourable supporting
legal opinions and in relation to any Continuing Guarantee governed by Australian laws) to the Administration Agent; provided that, if
such Person ceases to meet the criteria set forth in the definition of Guarantor, in accordance with the terms of this Agreement, the
Administration Agent will grant releases and discharges of the Continuing Guarantee relating to such Person;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">prior to making an investment in a business (other than Unrestricted Entities) (whether or not the investment
is intended to be financed by way of Borrowings under the Facilities) it shall provide the Canadian Agent with a &#8220;snapshot&#8221;
summary description of such investment in form and substance satisfactory to the Canadian Agent and shall include in such summary description
confirmation that such entity is an Eligible Business; provided, however, that such &#8220;snapshot&#8221; summary shall not be required
in connection with any such investments equalling less than U.S.$30,000,000; provided, further, that no such investment shall be made
in an entity that is not an Eligible Business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">it shall notify the Canadian Agent in the certificates provided pursuant to Sections 8.2(h)(i)(B) and
8.2(h)(ii)(C) of each investment (including by way of intercompany loans or other financial assistance) in any Unrestricted Entity and
shall ensure that at all times investments in Unrestricted Entities do not exceed an aggregate initial investment value set out in Section
8.3(f)(ii). The Borrowers shall be permitted to remove an entity from its qualification as an Unrestricted Entity at any time by giving
written notice to the Canadian Agent and thereafter all provisions hereunder with respect to the Subsidiaries of the Borrower (other than
provisions specifically relating to Unrestricted Entities) shall apply to such entity in the event such entity is a Subsidiary of a Borrower;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">the UK Borrower, Colliers EMEA, the Dutch Borrower and each Guarantor shall maintain its centre of main
interests in its jurisdiction of incorporation for the purposes of the Insolvency Regulation;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">(A) the UK Borrower, Colliers EMEA and each Guarantor shall ensure that all pension schemes operated by
or maintained for its benefit and/or any of its employees are fully funded based on the statutory funding objective under sections 221
and 222 of the Pensions Act 2004 and that no action or omission is taken by the UK Borrower, Colliers EMEA or Guarantor in relation to
such a pension scheme which has or is reasonably likely to have a material adverse effect (including the termination or commencement of
winding-up proceedings of any such pension scheme or the UK Borrower, Colliers EMEA or a Guarantor ceasing to employ any member of such
a pension scheme); (B) the UK Borrower, Colliers EMEA or Guarantor shall deliver to the Agent: (i) at such times as those reports are
prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant
schemes or to the UK Borrower, Colliers EMEA or a Guarantor); and (ii) at any other time if the Agent reasonably believes that any relevant
statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in (A)
above; (C) the UK Borrower, Colliers EMEA and Guarantor shall promptly notify the Agent of any material change in the rate of contributions
to any pension scheme mentioned in (A) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by
law or otherwise); and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Borrower or Guarantor to honor all
of its obligations under its Continuing Guarantee in respect of a Swap Obligation (provided, however, that each Qualified ECP Guarantor
shall only be liable under the Continuing Guarantee for the maximum amount of such liability that can be hereby incurred without rendering
its obligations under the Continuing Guarantee voidable under Applicable Law relating to fraudulent conveyance or fraudulent transfer,
and not for any greater amount). Except as otherwise provided herein, the obligations of each Qualified ECP Guarantor under the Continuing
Guarantee shall remain in full force and effect until the termination of all Swap Obligations. Each Qualified ECP Guarantor intends that
the Continuing Guarantee constitute, and the Continuing Guarantee shall be deemed to constitute, a &#8220;keepwell, support, or other
agreement&#8221; for the benefit of each other Borrower or Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the <I>Commodity
Exchange Act</I>.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">8.3</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each Borrower covenants with each of the Agents
and with each of the Lenders that so long as there shall remain any Borrowings or any other obligations of or affecting any party to this
Agreement:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">it will not, without the Majority Lenders&#8217; prior written consent (which consent shall not be unreasonably
withheld), sell, transfer or otherwise dispose of its control, direct or indirect, of any of its Subsidiaries (other than Unrestricted
Entities) and it will not, nor will it permit any of its Subsidiaries (other than Unrestricted Entities) to, without the Majority Lenders&#8217;
prior written consent, sell, lease, assign, transfer, convey or otherwise dispose of any of its business properties or assets whether
now owned or hereafter acquired (including, without limitation, receivables and leasehold interests, patents and intellectual property
rights) (in each case a &#8220;<B>Disposition</B>&#8221;) but excluding:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">inventory disposed of in the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">dispositions or other transfers of assets, including shares in Subsidiaries, among the Borrowers and Guarantors,
dispositions or other transfers of assets from Immaterial Subsidiaries and Unrestricted Entities to the Canadian Borrower and to Guarantors,
dispositions or other transfers of assets from Immaterial Subsidiaries and Unrestricted Entities to other Immaterial Subsidiaries and
Unrestricted Entities and dispositions or other transfers of assets (not exceeding an aggregate collective amount of $25,000,000 tangible
(per GAAP) assets during the term of this Agreement) from Borrowers, Guarantors or Material Subsidiaries (other than Unrestricted Entities)
to Immaterial Subsidiaries and Unrestricted Entities;</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">dispositions of shares in a Subsidiary, to existing or new minority shareholders of such Subsidiary in
the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">provided no Event of Default has occurred and is continuing, Dispositions which would not after giving
effect to such Disposition:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">result in a Default or Event of Default occurring and continuing; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">(1) result in the aggregate book value of all assets that have been the subject of a Disposition during
the period commencing on the immediately preceding Fiscal Year End of the Borrowers and ending on the date of the proposed Disposition,
exceeding 15% of Consolidated Total Assets; or (2)&nbsp;result in the aggregate book value of all assets that have been the subject of
a Disposition for the period commencing as of December 31, 2021 until the date of the proposed Disposition to exceed 25% of Consolidated
Total Assets determined as of the Fiscal Year End of the Borrowers immediately preceding the date of the proposed Disposition; provided
that proceeds of Dispositions which are reinvested within 365 days of the date of such Disposition shall be excluded from the calculation
of the foregoing percentages,</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">property which is, substantially contemporaneously with the disposition thereof, replaced by property
of substantially the same kind or nature and of at least equivalent value; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">dispositions of Receivables Facility Assets in connection with any Receivables Transaction permitted under
Section 8.3(b)(xii).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">it will not, nor will it permit any Subsidiary (other than Unrestricted Entities) to, without the Majority
Lenders&#8217; prior written consent, incur any indebtedness of any kind or nature whatsoever (whether in the form of capital leases,
sale and leaseback transactions or otherwise) incur any contingent obligations or liabilities, make any advances to or for the benefit
of, or guarantee (other than under Permitted VTBS) the indebtedness or liabilities of, or otherwise become liable for, any Person or any
business or project of any Person save and except:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">trade payables incurred in the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Hedging Agreements;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the endorsement of cheques and other negotiable instruments for deposit in the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">advances and accounts owing from (a) a Subsidiary of the Borrowers to a Borrower, (b) a Subsidiary to
another Subsidiary, (c) a Borrower to a Guarantor, and (d) a Borrower to a Subsidiary of a Borrower, provided that, with respect to this
item (d) such advances and accounts are unsecured (hereinafter collectively referred to as &#8220;<B>Permitted Loans</B>&#8221;);</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">indebtedness and contingent obligations or liabilities secured by Permitted Encumbrances or liabilities,
indebtedness and obligations which would otherwise constitute Permitted Encumbrances hereunder but for the lack of a lien to secure such
liabilities, indebtedness and obligations;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">unsecured guarantees to a maximum aggregate contingent amount of U.S.$100,000,000 (provided that unsecured
guarantees of earn-outs relating to the acquisition of Eligible Businesses shall be permitted without the overall aggregate dollar amount
restriction) at any one time provided by the Canadian Borrower or a Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">unsecured guarantees to landlords of its Subsidiaries in the ordinary course of business by a Borrower
or a Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">the provision of financial assistance (x) by way of loans by Subsidiaries to customers in respect of the
upgrade of infrastructure or equipment; (y) by way of loans by a parent entity to employees of a Subsidiary to enable them to buy shares
in such Subsidiary, secured by a pledge of such shares; or (z) by way of other loans by a Subsidiary to employees or staff that are or
are acting through independent contractors, not exceeding an aggregate collective amount of U.S.$25,000,000 at any time (provided that
if such loans to such employees and independent contractors form part of their overall compensation package and such loans have a debt
forgiveness feature which is tied to, among other things, performance hurdles, then such loans shall be permitted without the overall
aggregate dollar amount restriction);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ix)</TD><TD STYLE="text-align: justify">so long as no Default or Event of Default would result from the incurrence thereof, unsecured indebtedness
not otherwise permitted by Subsections 8.3(b)(i), (iv), (v), (vi) and (vii), that ranks pari passu to this Agreement (&#8220;<B>Permitted
Unsecured Loans</B>&#8221;);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">Permitted Foreign Subsidiary Facilities up to a maximum aggregate amount of U.S.$50,000,000 at any time;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(xi)</TD><TD STYLE="text-align: justify">Convertible Debentures;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(xii)</TD><TD STYLE="text-align: justify">indebtedness or other obligations of a Receivables Entity arising under any Receivables Transaction so
long as the principal amount of such indebtedness obligations (or the principal amount of such other obligations) owing by Receivables
Entities to third parties do not in the aggregate exceed U.S.$250,000,000 at any one time outstanding; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(xiii)</TD><TD STYLE="text-align: justify">mortgage loans made by CMH or any of its Subsidiaries in the ordinary course of business, and indebtedness
or other obligations of CMH or any of its Subsidiaries arising under the Warehouse Line so long as (A) the principal amount of such indebtedness
obligations (or the principal amount of such other obligations) owing to third parties under the Warehouse Line does not in the aggregate
exceed at any one time outstanding the greater of (x) U.S.$1,000,000,000 or (y) 20% of Consolidated Total Assets (determined as of the
end of the most recently completed Fiscal Quarter of the Canadian Borrower and its Subsidiaries immediately preceding the date of the
investment), (B) recourse in respect of such indebtedness obligations is limited solely to CMH and its Subsidiaries and no other Guarantor
or Affiliate of a Guarantor thereof, and (C) concurrently with any mortgage loan agreement entered into by CMH or any of its Subsidiaries
and the borrower of such mortgage loan which is intended to be originated by CMH or such Subsidiary, a binding agreement of sale is entered
into in writing by CMH or such Subsidiary and a third party financial institution in respect of the sale of such mortgage loan to such
third party financial institution (to the extent such agreement is not already in existence).</TD></TR></TABLE>
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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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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">it will not, and it will not permit any of its Subsidiaries (other than Unrestricted Entities) to, without
the Majority Lenders&#8217; prior written consent, incur, create, assume or permit to exist any Lien on any of its or any of its Subsidiaries&#8217;
property or assets, whether owned at the date hereof or hereafter acquired other than Permitted Encumbrances;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">it will not without the prior written consent of the Majority Lenders, 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 Canadian Borrower, its Affiliates or any creditors other than the Lenders and it will cause its Subsidiaries
(other than Unrestricted Entities) to do likewise save and except for:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">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:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">the payment of dividends, whether in cash or in specie; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">normal course distributions to minority shareholders of Subsidiaries of the Borrowers as contemplated
in the Canadian Borrower&#8217;s annual business plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">distributions and returns of capital (whether by retirement, redemption, repurchase, cancellation or otherwise)
and normal course issuer bids of the Canadian Borrower;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">regularly scheduled payments in respect of Permitted Encumbrances;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">payments upon exercise of the put options under the Shareholders&#8217; Agreements;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">payments upon exercise of the call options under the Shareholders&#8217; Agreements;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">payments on account of retirement, termination, death or disability, redemptions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify">payments on account of Permitted VTBS; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify">dividends or other distributions by any Receivables Entity to the holders of equity interests therein
(so long as such holders are either a Borrower or a wholly owned Subsidiary of a Borrower).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">in respect of obligations and liabilities permitted under Section 8.3(b).</TD></TR></TABLE>
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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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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">trade debt incurred in the ordinary course of business provided that the Administration Agent has not
declared the Borrowings due and payable in accordance with Section 9.1; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">payments on account of the Permitted Unsecured Loans;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">it will not, and will not permit any of its Subsidiaries (other than Unrestricted Entities) to, enter
into any merger, consolidation or amalgamation, or, except as permitted pursuant to Section 9.2, liquidate, wind up or dissolve itself
(or, except as permitted pursuant to Section 9.2, suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or
otherwise dispose of, all or substantially all its business units, assets or other properties, except that:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">so long as no Default or Event of Default would result therefrom, any Subsidiary of any Borrower may be
merged or consolidated with or into a Borrower, provided that (A) a Borrower shall be the continuing or surviving entity or (B) if the
Person formed by or surviving any such merger, amalgamation or consolidation is not a Borrower (such Person, the &#8220;<B>Successor Borrower</B>&#8221;),
(1)(a) in the case of a merger, amalgamation or consolidation by a Person organized or existing under the laws of the United States, any
state thereof or the District of Columbia, the Successor Borrower shall be an entity organized or existing under the laws of the United
States, any state thereof or the District of Columbia, (b) in the case of a merger, amalgamation or consolidation by a Person organized
or existing under the laws of Canada or any province thereof, the Successor Borrower shall be an entity organized or existing under the
laws of Canada or any province thereof, and (c) in the case of a merger, amalgamation or consolidation by a Person not organized or existing
under the laws of the United States, any state thereof, the District of Columbia, Canada or any province thereof, the Successor Borrower
shall be an entity organized or existing under the laws of the country in which the non-surviving Borrower was organized or existing or
the laws of any state or province thereof, (2) the Successor Borrower shall expressly assume all the obligations of a Borrower under this
Agreement and the other Loan Documents pursuant to a supplement hereto or thereto in form reasonably satisfactory to the Agent, (3) each
applicable Guarantor, unless it is the other party to such merger, amalgamation or consolidation, shall have by a supplement hereto confirmed
that its Continuing Guarantee (including any guarantee thereunder) shall apply to the Successor Borrower&#8217;s obligations under this
Agreement, and (4) if such merger, amalgamation or consolidation is with respect to a Borrower or Guarantor, the Borrower shall have delivered
to the Agent (a) an officer&#8217;s certificate stating that such merger, amalgamation or consolidation and such supplements to this Agreement
and the other Loan Documents preserve the enforceability of the Continuing Guarantee, and (b) if reasonably requested by the Agent, an
opinion of counsel to the effect that such merger, amalgamation or consolidation does not violate this Agreement or any other Loan Document,
and provided further that if the foregoing are satisfied, the Successor Borrower will succeed to, and be substituted for, such Borrower
under this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any Subsidiary of a Borrower (other than another Borrower) or any other Person may be merged, amalgamated
or consolidated with or into any one or more Subsidiaries of such Borrower, provided that (A) in the case of any merger, amalgamation
or consolidation involving one or more Subsidiaries (other than Unrestricted Entities), (1) a Subsidiary shall be the continuing or surviving
entity or (2) such Borrower shall take all steps necessary to cause the Person formed by or surviving any such merger, amalgamation or
consolidation (if other than an Unrestricted Entities) to become a Guarantor (if such Subsidiary meets the criteria thereof), (B) in the
case of any merger, amalgamation or consolidation involving one or more Guarantors, a Guarantor shall be the continuing or surviving entity
or the Person formed by or surviving any such merger, amalgamation or consolidation (if other than a Guarantor) shall execute a supplement
or joinder to this Agreement and to the Continuing Guarantee, or deliver a new Continuing Guarantee (as required), in order to become
a Guarantor to the extent required under Section 8.2(k), (C) no Default or Event of Default would result from the consummation of such
merger, amalgamation or consolidation, and (D) if such merger, amalgamation or consolidation is with respect to a Borrower or Guarantor,
such Borrower shall have delivered to the Agent an officer&#8217;s certificate stating that such merger, amalgamation or consolidation
and such supplements and/or joinders to any Continuing Guarantee preserve the enforceability of the guarantee;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">it will not, nor will it permit any of its Subsidiaries (other than Unrestricted Entities) to, without
obtaining the prior written consent of the Majority Lenders:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">make any acquisition of any business other than the acquisition of an Eligible Business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">make any investments in and/or provide financial assistance to Unrestricted Entities exceeding an aggregate
initial investment value equal to the greater of U.S.$300,000,000 and 10% of Consolidated Total Assets (determined as of the end of the
most recently completed Fiscal Quarter of the Canadian Borrower and its Subsidiaries immediately preceding the date of the investment)
at any time (for certainty, there shall be no restriction on investments in, or financial assistance to any Subsidiary that is not an
Unrestricted Entity); or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">establish, incorporate, otherwise form, charter or create any new Subsidiary other than (a) in connection
with the acquisition of an Eligible Business, (b) in connection with a Receivables Transaction or (c) in the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">it will not amend any of the terms, conditions and/or covenants applicable to the Permitted Unsecured
Loans such that the lenders under the Permitted Unsecured Loans benefit from Specified Terms that are more favourable to the lenders under
the Permitted Unsecured Loans than those provided for hereunder or under the Continuing Guarantees unless concurrently with any such amendments
to the Permitted Unsecured Loans equivalent amendments are made to the terms hereof and/or to the Continuing Guarantees. For the purposes
of this section, &#8220;<B>Specified Terms</B>&#8221; means (i) any requirement to provide guarantees or security or arrangements akin
thereto, (ii) a negative covenant in respect of restrictive payments, (iii) a negative covenant in respect of the incurrence of additional
indebtedness, (iv) financial covenants, (v) events of default, and (vi) any mandatory repayment provisions, however for certainty, Specified
Terms shall not extend to scheduled maturity dates of Permitted Unsecured Loans; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">it will not, nor will it permit any of its Subsidiaries (other than Unrestricted Entities) to, (i) establish
or contribute to any Canadian Defined Benefit Pension Plan, or (ii) 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.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">it will not, nor will it permit any of its Subsidiaries nor any of its or their respective directors,
officers, employees and agents to use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise
to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption
Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person,
or in any Sanctioned Country, or (iii)&nbsp;in any manner that would result in the violation of any Sanctions applicable to any party
hereto or any Subsidiary of such party. Notwithstanding the foregoing, the covenant given in this Section 8.3(i) shall not be made by
nor apply to any Person that qualifies as a corporation that is registered or incorporated under the laws of Canada or any province thereof
and that carries on business in whole or in part in Canada within the meaning of Section 2 of the Foreign Extraterritorial Measures (United
States) Order, 1992 passed under the <I>Foreign Extraterritorial Measures Act </I>(Canada) in so far as such representations would result
in a violation of or conflict with the <I>Foreign Extraterritorial Measures Act</I> (Canada) or any similar law.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">8.4</TD><TD STYLE="text-align: justify">Financial Covenants</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Canadian Borrower will, at all times, maintain:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Total Debt/Consolidated EBITDA Ratio of not more than 3.5 to 1.0; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">on a consolidated and rolling 4 Quarters basis, an Interest Coverage Ratio of greater than 2.0 to 1.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;9</FONT><BR>
&#8211;&nbsp;EVENTS OF DEFAULT</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">9.1</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the occurrence of any one or more of the
following events (an &#8220;<B>Event of Default</B>&#8221;):</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the non-payment by a Borrower when due, whether by acceleration or otherwise, of any payment of principal
due under the Facilities, or otherwise hereunder;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the non-payment by a Borrower when due (or within three (3) Business Days thereafter) whether by acceleration
or otherwise, of any payment (other than a payment of principal) due under the Facilities or otherwise hereunder;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">except as permitted by Section 8.3(e), the commencement of proceedings by a Borrower, any Guarantor or,
except as permitted by Section 9.2, any of their Subsidiaries for the dissolution, merger, amalgamation, liquidation, administration or
winding up of any of a Borrower or any Guarantor or any of their Subsidiaries or for the suspension of the operations of any of a Borrower
or any Guarantor or any of their Subsidiaries (other than in each case with respect to any Unrestricted Entities);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the commencement of proceedings against a Borrower, any Guarantor or any of their Subsidiaries for the
dissolution, merger, amalgamation, liquidation, administration or winding-up of any of a Borrower or any Guarantor or any of their Subsidiaries
unless such proceedings are being actively and diligently contested by the Borrower, or Guarantor or such Subsidiary, as the case may
be, in good faith to the satisfaction of the Majority Lenders (other than in each case with respect to any Unrestricted Entities);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Borrower or any Guarantor or, except as permitted by Section 9.2, any of their Subsidiaries (other than
an Unrestricted Entity) is adjudged or declared bankrupt or insolvent or makes an assignment for the benefit of creditors, or petitions
or applies to any tribunal for the appointment of a receiver, custodian, administrator, monitor, sequestrator or trustee for a Borrower,
any Guarantor or any such Subsidiary or for any substantial part of its property, or commences any proceedings relating to it under any
reorganization, arrangement, readjustment of debt, dissolution, administration or liquidation law or statute of any jurisdiction whether
now or hereafter in effect relating to or governing debtors or such proceedings are commenced against it (unless, in the case of proceedings
commenced against it, such proceedings are being actively and diligently contested by such Borrower, such Guarantor or such Subsidiary
in good faith to the satisfaction of the Majority Lenders), or by any act indicates its consent to, approval of, or acquiescence in, any
such proceeding for a Borrower, any Guarantor or any such Subsidiary or for any substantial part of its property, or suffers the appointment
of any receiver, custodian, administrator, monitor, sequestrator or trustee and any such appointment continues undischarged and in effect
for a period of 30 days; provided that during such 30 day period such appointment is being actively and diligently contested by such Borrower
or Guarantor or Subsidiary in good faith to the satisfaction of the Majority Lenders and in the case of a Borrower such receiver, custodian,
administrator, monitor, sequestrator or trustee shall not have taken possession of or otherwise enforced its rights over the property
in respect of which it has been appointed;</TD></TR></TABLE>
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    <!-- Field: /Page -->

<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">in respect of an Australian Borrower or Australian Guarantor:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">an Australian Borrower or Australian Guarantor is or is presumed or deemed to be unable or admits inability
to pay its debts as they fall due, suspends making payments on any of its debts or a moratorium is declared in respect of any indebtedness
of any an Australian Borrower or Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">any corporate action, legal proceedings or other procedure or step is taken in relation to:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">the suspension of payments, a moratorium of any indebtedness, winding up, dissolution, administration
or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of any Australian Borrower or Australian Guarantor
except an application made to a court for the purposes of winding up such a person which is disputed by an Australian Borrower or Australian
Guarantor acting diligently and in good faith and dismissed within 30 Business Days;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">a composition, assignment or scheme of arrangement with any creditor of any Australian Borrower or Australian
Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">the appointment of a liquidator, receiver, administrator, administrative receiver, compulsory manager
or other similar officer in respect of any Australian Borrower or Australian Guarantor or any of their assets except an application made
to a court for the purposes of appointing such a person which is disputed by such Australian Borrower or Australian Guarantor acting diligently
and in good faith and dismissed within 30 Business Days; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">enforcement of any Liens over any assets of any Australian Borrower or Australian Guarantor except where
such enforcement is disputed by such Australian Borrower or Australian Guarantor acting diligently and in good faith and has not been
stayed within 30 Business Days;</TD></TR></TABLE>
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    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the UK Borrower, Colliers EMEA, the Dutch Borrower or a Guarantor (i) is unable or admits inability to
pay its debts as they fall due; (ii) suspends making payments on any of its debts by reason of actual or anticipated financial difficulties,
(iii) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view
to rescheduling any of its indebtedness, or (iv) in respect of the UK Borrower, Colliers EMEA, the Dutch Borrower or a Guarantor, the
value of its assets is less than that its liabilities (taking into account contingent and prospective liabilities) or a moratorium or
other protection from its creditors is declared or imposed in respect of any its indebtedness;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">any material representation or warranty made in any Loan Document by a Borrower, the Guarantor, or any
of their Subsidiaries or any information furnished in writing to an Agent or Lender by a Borrower, any Guarantor or any such Subsidiary
proves to have been incorrect in any material respect when made or furnished save that if any such materially incorrect representation
or warranty is capable of being corrected and none of the Agents and the Lenders has been prejudiced by such materially incorrect representation
or warranty, then the Borrowers shall have 30 days after written notice to do so by the Administration Agent to take such action to make
the representation or warranty true and correct at such time, in which case such representation or warranty shall be deemed to have been
true and correct when originally made or furnished;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">a writ, execution or attachment or similar process is issued or levied against all or a substantial portion
of the property of a Borrower, any Guarantor or any of their Subsidiaries in connection with any judgment against a Borrower, any Guarantor
or any of their Subsidiaries in any amount which materially affects the assets of a Borrower, any Guarantor or its Subsidiaries, and such
writ, execution, attachment or similar process is not released, bonded, satisfied, discharged, vacated or stayed within 30 days after
its entry, commencement or levy; provided that during such 30 day period such process if being actively and diligently contested by such
Borrower or Guarantor or Subsidiary in good faith to the satisfaction of the Majority Lenders (other than in each case with respect to
any Unrestricted Entities);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">the breach or failure by the Borrowers, a Guarantor or any Subsidiary to perform or observe the covenants
contained in Sections 8.3(a), 8.3(d), 8.3(e), 8.3(f)(i), 8.3(h), 8.3(i) or 8.4.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the breach or failure of due performance by a Borrower or any Guarantor of any covenant or provision of
this Agreement, other than those heretofore dealt with in this Section 9.1, which is not remedied by such Borrower, or Guarantor within
ten (10) Business Days, after written notice to do so by the Administration Agent or any Lender; provided that such breach or failure
is capable of being remedied and during such ten (10) Business Day period the Borrower or Guarantor is proceeding actively and diligently
in good faith to remedy such breach or failure to the satisfaction of the Majority Lenders;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">demand by any Person (including, without limitation, any Lender) is made on a Borrower, any Guarantor
or any of their Subsidiaries (other than any Unrestricted Entities) in respect of indebtedness, in an aggregate amount of U.S.$50,000,000
(or the Equivalent Amount thereof) payable on demand by such Borrower, such Guarantor or such Subsidiary and such Borrower, such Guarantor
or such Subsidiary has not, when due and payable, made payment of the amount so demanded or contested the validity of such demand in good
faith or a Borrower, any Guarantor or any of their Subsidiaries (other than any Unrestricted Entities) is in default under any term or
provision of any agreement, deed, indenture or instrument (other than this Agreement) between such Borrower, such Guarantor or such Subsidiary
as the case may be, and any Person (including, without limitation, any Lender) shall have accelerated or shall have the right to accelerate
any indebtedness (including Financial Contract Obligations) in the aggregate amount of U.S.$50,000,000 (or the Equivalent Amount thereof)
of a Borrower, such Guarantor or such Subsidiary, as the case may be;</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">except as expressly permitted under Section 8.3(e), a Borrower, any Guarantor or any of their Subsidiaries
(other than any Unrestricted Entities) ceases or threatens to cease to carry on all or a substantial part of the business currently carried
on by such Borrower, such Guarantor or such Subsidiary;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">there is any change in ownership of shares of the Canadian Borrower which results in any shareholder or
group of related or affiliated shareholders (other than: (i) Jay S. Hennick; (ii) the spouse, children or estate of Jay S. Hennick (together
with Jay S. Hennick being the &#8220;<B>Hennick Family</B>&#8221;); (iii) a trust, the sole beneficiaries of which are any of the Hennick
Family; and (iv) any and all corporations or entities which are directly or indirectly controlled by any of the Hennick Family) owning
shares of the Canadian Borrower having voting rights in excess of the applicable Change of Control Threshold;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">any guarantee of the Obligations shall fail to remain in full force or effect or any action shall be taken
to discontinue or to assert the invalidity or unenforceability of such guarantee, or any Guarantor shall fail to comply with any of the
terms or provisions of such guarantee to which it is a party, or any Guarantor shall deny that it has any further liability under such
guarantee to which it is a party, or shall give notice to such effect; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">any Loan Document shall fail to remain in full force or effect or any action shall be taken by any Borrower
or Guarantor or any of its Affiliates to discontinue or to assert the invalidity or unenforceability of any Loan Document;</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">the Administration Agent shall, if so instructed
by the Majority Lenders, by written notice to the Borrowers declare the Borrowings, including accrued interest thereon, and all other
indebtedness of the Borrowers to any of the Lenders and/or the Agents in connection with this Agreement to be due and payable, whereupon:</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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any right of the Borrowers to any further utilization of the Facilities and any obligations of the Lenders
under the Commitments terminates; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all Borrowings and other indebtedness of the Borrowers to any of the Lenders and/or to the Agents in connection
with this Agreement are, notwithstanding anything in this Agreement to the contrary, immediately due and payable without further demand
or other notice of any kind, all of which are expressly waived by the Borrowers and Guarantors, and the Borrowers shall immediately:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">pay to the Canadian Agent, the U.S. Agent, the European Agent and/or the Australian Agent, as the case
may be, the amount so declared to be due and payable (except for the Principal Amount of the Bankers&#8217; Acceptances then issued and
outstanding);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">pay to the Canadian Agent, a sum of money in Cdn.$ equal to such amount which the Canadian Agent shall
establish as being the amount which if invested in certificates of deposit or similar money market instruments issued by the Canadian
Agent will, together with the yield derived from such investments (the sum of such amount and such yield the &#8220;<B>Amount</B>&#8221;),
equal the Principal Amount of all Bankers&#8217; Acceptances then issued and outstanding. The Canadian Agent shall, promptly upon receipt
of the Amount distribute among the Lenders the Amount or the applicable portion thereof for such Bankers&#8217; Acceptances;</TD></TR></TABLE>
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<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: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">if so requested by the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as
the case may be, pay to such Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements
satisfactory to such Agent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding; and</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">provided<U>,</U> however<U>,</U> that upon an
Event of Default occurring pursuant to Section 9.1(c) or (d), all Borrowings, including accrued interest thereon, and all other indebtedness
of the Borrowers to any of the Lenders and/or the Agents in connection with this Agreement, shall immediately be due and payable without
further demand or notice of any kind.</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: bold 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">9.2</TD><TD STYLE="text-align: justify">Bankruptcy Exception</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">The Events of Default set out in Section 9.1(c)(i)
and Section 9.1(d) shall not apply to any case involving a Subsidiary (who is not a Borrower or a Guarantor) of the Canadian Borrower,
where (a) the events which would otherwise meet the requirements of Section 9.1(c)(i) and/or Section 9.1(d) have only occurred as a result
of a reasonable strategic business decision, by the Canadian Borrower or other parent of the applicable Subsidiary, (b) the applicable
Subsidiary has a trailing 12 month average EBITDA of less than two percent (2%) of Consolidated EBITDA prior to such strategic business
decision, and (c) no other Default or Event of Default has occurred and is continuing, or would result from taking any such course of
action; provided, however, that the foregoing exception to the Events of Default in Sections 9.1(c)(i) and 9.1(d) will only be permitted
with respect to any Subsidiary, or group of Subsidiaries of the Canadian Borrower, up to a maximum aggregate amount of U.S.$10,000,000
(in EBITDA) during the term of this Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">9.3</TD><TD STYLE="text-align: justify">Continuing Guarantees</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Upon the occurrence of an Event of Default, the Continuing Guarantees held by the Administration Agent
and/or any Lender shall become immediately enforceable and the Majority Lenders may, in their absolute discretion, instruct the Administration
Agent or, in respect of any Continuing Guarantee held by any Lender directly, such Lender, to take any and all steps in order to enforce
the Continuing Guarantees, in whole or in part.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Borrowers&#8217; obligations and liabilities under this Agreement are in no way affected or diminished
in the event of any such enforcement of any Continuing Guarantee by the Administration Agent or any such Lender.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">9.4</TD><TD STYLE="text-align: justify">Remedies Not Exclusive</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">The Borrowers and the Guarantors expressly agree
that the rights and remedies of the Agents and the Lenders under this Agreement and the Continuing Guarantees are cumulative and in addition
to, and not in substitution for, any rights or remedies provided by law; any single or partial exercise by an Agent or any Lender of any
right or remedy for a default or breach of any term, covenant, condition or agreement in this Agreement does not affect its or their rights
and does not waive, alter, affect, or prejudice any other right or remedy to which an Agent or the Lenders may be lawfully entitled for
the same default or breach. Any waiver by an Agent or any of the Lenders of the strict observance of, performance of or compliance with
any term, covenant, condition or agreement of this Agreement, and any indulgence by any Agent or any of the Lenders is not a waiver of
that or any subsequent default.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">9.5</TD><TD STYLE="text-align: justify">Set Off</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">In addition to any rights now
or hereafter granted under Applicable Law and not by way of limitation of any such rights, each of the Lenders is authorized during an
Event of Default which is continuing, without notice to the Borrowers, any Guarantor or to any other Person, any such notice being expressly
waived by the Borrowers and each Guarantor, to set off and to appropriate and to apply any and all deposits, matured or unmatured, general
or special and any other indebtedness at any time held by or owing by each of the Lenders to or for the credit of or the account of any
of the Borrowers or any Guarantor against and on account of the obligations and liabilities of the Borrowers and the Guarantors due and
payable to each of the Lenders under this Agreement, including without limitation, all claims of any nature or description arising out
of or connected with this Agreement.</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: 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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.6</TD><TD STYLE="text-align: justify">Sustainability Certificate Non-Delivery and No Pricing Adjustment</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Notwithstanding anything set out in this Agreement to the contrary, neither the failure of the Canadian
Borrower to publish a Sustainability Report or deliver a Sustainability Certificate, in each case, pursuant to this Agreement nor the
failure of the Canadian Borrower to meet or satisfy any SPT Metric set out in the &#8220;Applicable Sustainability Margin Adjustment&#8221;
definition shall be, or deemed to be, a Default or an Event of Default.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Upon the occurrence and during the continuance of an Event of Default, the Applicable Margin shall not
be reduced by the Applicable Sustainability Margin Adjustment; provided that, for certainty, the Applicable Margin may be increased by
the Applicable Sustainability Margin Adjustment upon the occurrence and during the continuance of an Event of Default.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;10</FONT><BR>
&#8211;&nbsp;PAYMENTS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">10.1</TD><TD STYLE="text-align: justify">Payments to Agents/Swingline Lenders</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">All payments to be made by the Canadian Borrower and CMN in connection with this Agreement shall be made
in funds having same day value to the Canadian Agent, for its own account or for the account of the Canadian Lenders, at Bank of Montreal,
for account:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Canadian $ - Ref: Colliers International
Group Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">CAD</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Bank of Montreal</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Global Payment Services, 129 St. Jacques Rue Montreal, PQ</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Colliers International Group Inc.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For US $ - Ref. Colliers International
Group Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">USD</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Wells Fargo Bank NA, New York (ABA #[REDACTED])</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account With:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Bank of Montreal, Montreal</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bank of Montreal, GFS</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">250 Yonge&nbsp; St., 11<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Toronto, ON M5B 2L7</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Colliers International Group Inc.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Sterling &#8211; Ref. Colliers
International Group Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">GBP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">LLOYDS TSB BANK PLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">LONDON UK</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Globestar Limited and Colliers International EMEA Holdings Limited</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Euros &#8211; Ref. Colliers International
Group Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">EUR</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">COMMERZBANK</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">FRANKFURT GERMANY</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Globestar Limited and Colliers International EMEA Holdings Limited</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></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 0pt 1in; text-align: justify">or at any other office or account designated
by the Canadian Agent. Any such payment shall be made on the date upon which such payment is due, in accordance with the terms hereof,
no later than 10:00 a.m. Any such payment shall be a good discharge to the Canadian Borrower or CMN, as applicable, for such payment and,
if any such payment is for the account of the Lenders, the Canadian Agent shall hold the amount so paid &#8220;in trust&#8221; for the
Lenders until distributed to them in accordance with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">All payments to be made by the U.S. Borrower in connection with this Agreement shall be made in funds
having same day value to the U.S. Agent, for the account of the U.S. Lenders:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For US $ - Ref. Colliers International
Holdings (USA), Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">USD</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">BMO Harris Bank, Chicago, IL</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">115 S &nbsp;LaSalle St., Chicago, IL 60603 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Colliers International Holding (USA) Inc.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Sterling - Ref. Colliers International
Holdings (USA), Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">GBP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">HSBC Bank PLC, London SC400515</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">London UK</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF [Colliers International Holdings (USA), Inc.]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Euros - Ref. Colliers International
Holdings (USA), Inc.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">EUR</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">Rabobank Nederland, Utrecht, The Netherlands</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">The Netherlands</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF (Colliers International Holdings (USA), Inc.]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">or at any other office or account designated
by the U.S. Agent. Any such payment shall be made on the date upon which such payment is due, in accordance with the terms hereof, no
later than 10:00 a.m. Any such payment shall be a good discharge to the U.S. Borrower for such payment and, if any such payment is for
the account of the U.S. Lenders, the U.S. Agent shall hold the amount so paid &#8220;in trust&#8221; for the U.S. Lenders until distributed
to them in accordance with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">All payments to be made by the UK Borrower, the Dutch Borrower and Colliers EMEA in connection with this
Agreement shall be made in funds having same day value to the European Agent, for its own account or for the account of the UK Lender
and the Colliers EMEA Lender, as applicable:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Sterling - Ref: Globestar Limited</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">GBP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">LLOYDS TSB BANK PLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">LONDON UK</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF&nbsp; CCLO LONDON [Globestar Limited]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For USD - Ref: Globestar Limited</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">USD</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">WELLS FARGO BANK N.A, </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">N.Y., USA</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF&nbsp; CCLO LONDON [Globestar Limited]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><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>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For Euros - Ref: Colliers International
EMEA Holdings Limited</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">EUR</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">COMMERZBANK</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">FRANKFURT GERMANY</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF&nbsp; CCLO LONDON [Colliers International EMEA Holdings Limited]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For USD - Colliers International
EMEA Holdings Limited</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify">Name of currency:</TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">USD</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Bank Correspondent Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">WELLS FARGO BANK N.A, </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Address</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">N.Y., USA</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">SWIFT Address of correspondent Bank:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account No:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Account Name:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">[REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify">Reference:</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">REF&nbsp; CCLO LONDON [Colliers International EMEA Holdings Limited]</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">or at any other office or account designated
by the European Agent. Any such payment shall be made on the date upon which such payment is due, in accordance with the terms hereof,
no later than 8:00 a.m. Any such payment shall be a good discharge to the UK Borrower, the Dutch Borrower or Colliers EMEA, as applicable,
for such payment and, if any such payment is for the account of the applicable Lenders, the European Agent shall hold the amount so paid
&#8220;in trust&#8221; for the applicable Lenders until distributed to them in accordance with this Agreement.</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 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">All payments to be made by the Australian Borrower in connection with this Agreement shall be made in
funds having same day value to the Australian Agent, for its own account or for the account of the Australian Lender:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">For Australian Dollars - Account Bank:
HSBC BANK AUSTRALIA LIMITED (Swift: [REDACTED]), Account Name: [REDACTED] [REDACTED], Account Number: [REDACTED], Reference: Interest
Payment &#8211; (Colliers International Holdings (Australia) Limited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">For U.S. Dollars - USD Corresponding
Bank: HSBC BANK USA NA, NEW YORK (Swift: [REDACTED]), Account Bank: HSBC BANK AUSTRALIA LIMITED (Swift: HKBAAU2S), Account Name: [REDACTED],
Account Number: [REDACTED], Reference: Interest Payment &#8211; (Colliers International Holdings (Australia) Limited)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">or at any other office or account designated
by the Australian Agent. Any such payment shall be made on the date upon which such payment is due, in accordance with the terms hereof,
no later than 8:00 a.m. Any such payment shall be a good discharge to the Australian Borrower for such payment and, if any such payment
is for the account of the applicable Lenders, the Australian Agent shall hold the amount so paid &#8220;in trust&#8221; for the applicable
Lenders until distributed to them in accordance with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Payments to each Canadian Swingline Lender shall be made directly to such Canadian Swingline Lender as
directed by such Canadian Swingline Lender to the Canadian Borrower from time to time, payments to the U.S. Swingline Lender shall be
made directly to the U.S. Swingline Lender as directed by the U.S. Swingline Lender to the U.S. Borrower from time to time, payments to
the U.S. Sweep Depositary shall be made directly to the U.S. Sweep Depositary as directed by the U.S. Sweep Depositary to the U.S. Borrower
from time to time and payments to the Australian Swingline Lender shall be made directly to the Australian Swingline Lender as directed
by the Australian Swingline Lender to the Australian Borrower from time to time.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Whenever a payment is due on a day which is not a Business Day, the day for payment is the following Business
Day.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">10.2</TD><TD STYLE="text-align: justify">Payments by Lenders to Agents</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">All payments to be made by any Lender to an Agent
in connection with Borrowings shall be made in funds having same day value to such Agent, for the applicable Borrower&#8217;s applicable
Cdn.$, U.S.$, Sterling, Euros or Australian Dollars account (unless otherwise specified), at the branch, office or account mentioned in
or designated under Section 10.1(a), (b), (c) or (d) and by the time designated therein.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">10.3</TD><TD STYLE="text-align: justify">Payments by Agents to Borrowers</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">Any payment received by an Agent for the account
of a Borrower shall be paid in funds having same day value to such Borrower by such Agent on the date of receipt or, if such date is not
a Business Day, on the next Business Day, to the Canadian Borrower&#8217;s operating accounts, CMN&#8217;s operating accounts, the U.S.
Borrower&#8217;s operating account, the UK Borrower&#8217;s operating account, Colliers EMEA&#8217;s operating account, the Dutch Borrower&#8217;s
operating account or the Australian Borrower&#8217;s operating account, as the case may be, at the same branch, or to such other accounts
as a Borrower may designate.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">10.4</TD><TD STYLE="text-align: justify">Distribution to Lenders and Application of Payments</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Except as otherwise indicated herein, all payments made to an Agent, Swingline Lender or Issuing Bank
by a Borrower for the account of the Lenders in connection herewith shall be distributed the same day by such Person in funds having same
day value among the Lenders to the accounts last designated in writing by such Lenders respectively to the Agents pro rata, in accordance
with their respective Participations with respect to the Loans, Bankers&#8217; Acceptances or Letters of Credit in respect of which any
such payment is made. In no event shall any Defaulting Lender be entitled to fees held by Agent pursuant to Section 2.5.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Any amounts so distributed shall be applied by the Lenders in the following order:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to amounts due pursuant to Article&nbsp;7 or Article&nbsp;11;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">to amounts due pursuant to Article&nbsp;12;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">to amounts due pursuant to Article&nbsp;4;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">to principal and interest due under this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">to amounts due pursuant to Section 2.14; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">to any other amounts (including Obligations) due pursuant to this Agreement.</TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing, amounts received from any Borrower or Guarantor shall not be applied to
any Excluded Swap Obligations of such Borrower or Guarantor.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">10.5</TD><TD STYLE="text-align: justify">No Set Off or Counterclaim</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">All payments by a Borrower or any Guarantor shall
be made free and clear of and without any deduction for or on account of any set off or counterclaim.</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: bold 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">10.6</TD><TD STYLE="text-align: justify">Non Receipt By Agents</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">Where a sum is to be paid hereunder to an Agent
for the account of another party hereto, such Agent shall not be obliged to make the same available to that other party hereto until it
has been able to establish that it has actually received such sum, but if it does pay out a sum and it proves to be the case that it had
not actually received the sum it paid out, then the party hereto to whom such sum was so made available shall on request ensure that the
amount so made available is refunded to such Agent and shall on demand indemnify such Agent against any cost or loss it may have suffered
or incurred by reason of its having paid out such sum prior to its having received such sum.</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: bold 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">10.7</TD><TD STYLE="text-align: justify">When Due Date Not Specified</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">Whenever this Agreement does not provide a date
when any amount payable hereunder shall be due and payable such amount shall be due and payable on the fifth (5<SUP>th</SUP>) Business
Day following written notice or demand for payment thereof by an Agent or any Lender save that nothing hereinbefore provided shall in
any way affect or alter the rights and remedies available to the Agents and any Lender under Article&nbsp;9.</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: bold 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">10.8</TD><TD STYLE="text-align: justify">Agents&#8217; Authority to Debit</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">In respect of all amounts payable by a Borrower
under this Agreement, the Borrowers and each Guarantor hereby authorize and instruct the Agents, as applicable, to debit, from time to
time when such amounts are due and payable, the account or accounts designated pursuant to Section 10.3 and all other accounts of the
applicable Borrower or Guarantor, whether such accounts are maintained with an Agent or otherwise, for the purpose of satisfying payment
thereof.</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;11</FONT><BR>
&#8211;&nbsp;EXPENSES</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">11.1</TD><TD STYLE="text-align: justify">Payment of Expenses</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">Whether or not an Event of Default exists, the
Borrowers shall, jointly and severally:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">pay (i) all reasonable out of pocket expenses of the Agents and the Lenders incurred in the preparation,
negotiation, execution and delivery of this Agreement, the Continuing Guarantees and all other documents relating hereto including, without
limitation, legal fees and out of pocket expenses of Lenders&#8217; Counsel and their agents (but not including separate legal counsel
engaged by any particular Lender) and (ii) all other reasonable out-of-pocket expenses of the Agents incurred in connection with the establishment
and maintenance of the Facilities including, without limitation, environmental and other consultants&#8217; fees and expenses;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">pay all reasonable out of pocket expenses of the Agents incurred in the amendment or modification of this
Agreement or documents (including waivers or consents) relating thereto at a Borrower&#8217;s request (whether or not any such amendment
or modification is actually consummated) including without limitation, legal fees and out of pocket expenses of Lenders&#8217; Counsel
and their agents;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">pay all reasonable out of pocket expenses of the Agents, the Lenders and the Issuing Banks incurred in
the enforcement and preservation of any of their rights under this Agreement, the Continuing Guarantees or any other Loan Document, including,
without limitation, legal fees and out of pocket expenses of Lenders&#8217; Counsel or other counsel and their agents; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">indemnify the Agents, the Lenders and the Issuing Banks from all losses, costs, damages, liabilities and
reasonable out-of-pocket expenses:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">incurred by or asserted against any Agent or Lender or Issuing Bank or any Related Party of an Agent or
a Lender (each an &#8220;<B>Indemnified Party</B>&#8221;) by any third party arising out of or in connection with the execution and delivery
of this Agreement, the Loan Documents or any of the other documents related or ancillary thereto or non-performance by the parties hereto
of their respective obligations hereunder or thereunder and including any losses, claims, damages, liabilities and related expenses incurred
by such Indemnified Party as the result of any actual or prospective claim, litigation, investigation or proceeding relating to any of
the foregoing, whether based on contract, tort or any other theory brought by a third party at any time or brought by a Borrower or a
Guarantor or any Related Party of a Borrower or a Guarantor;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">which any Agent or Lender sustains or incurs (including, without limitation, any loss of profit or expenses
any Lender incurs by reason of the liquidation or redeployment of deposits or other funds acquired by such Lender to maintain Borrowings
or any interest or other charges payable by such Lender to other lenders of funds borrowed in order to make, to fund or to maintain the
Loans or to maintain any amount in default) as a consequence of (I) any prepayment (it being understood that the mandatory repayments
to be made pursuant to Section 3.1 do not constitute prepayments), (II) any acceleration of the payment of Borrowings pursuant to Section
9.1 or 16.8 or (III) any default by a Borrower under any of the provisions of this Agreement including, without limitation, a failure
to borrow on a Drawdown Date or to issue Bankers&#8217; Acceptances on an Acceptance Date, a failure to pay interest on, or principal
amounts of, the Loans on the dates due, the failure to make a payment on the specified date or the failure to make a payment in accordance
with this Agreement or any misrepresentation by a Borrower contained in or delivered in writing in connection with this Agreement; and</TD></TR></TABLE>
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<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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">incurred by the Issuing Banks and the Lenders in connection with any and all actions, proceedings, costs,
damages, expenses, taxes (other than taxes on overall net income, assets or capital), claims and demands by reason of or arising in any
way whatsoever in connection with the opening, establishing or paying of the amounts payable under Letters of Credit issued at the request
of a Borrower or arising in connection with any amounts payable by any Issuing Bank or any Lender thereunder;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">provided that such indemnity shall not,
as to any Indemnified Party, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined
by a court of competent jurisdiction by final judgment to have resulted from the gross negligence or wilful misconduct of such Indemnified
Party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The certificate of an officer or manager
of any Agent or any such Lender setting forth the amount of any such losses, damages, expenses and liabilities shall constitute, absent
manifest error, prima facie evidence of any such amount and any Agent shall debit, from any Borrower&#8217;s accounts, the amount stipulated
in the certificate in accordance with Section 10.8. The affected Agent or Lender shall also provide to the affected Borrower a statement
setting out the basis for the calculation of such amount.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">11.2</TD><TD STYLE="text-align: justify">Survival</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">Without prejudice to the survival or termination
of any other agreement of the Borrowers under this Agreement, the obligations of the Borrowers under Section 11.1 survive the repayment
of all the Borrowings and the termination of the Commitments.</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: bold 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">11.3</TD><TD STYLE="text-align: justify">Environmental Indemnity</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Subject to the limitations in this Section 11.3, the Borrowers agree to and do hereby, jointly and severally,
indemnify and save harmless the Indemnified Parties from and against any and all losses, damages, costs and expenses of any and every
nature and kind whatsoever which at any time or from time to time may be paid by or incurred by them (without duplication and net of Tax
Recoveries by any of the Indemnified Parties) for, with respect to, or as a direct or indirect result of the disposal, refining, generation,
manufacture, production, storage, handling, presence, treatment, transfer, release, processing or transportation of any Hazardous Material
in, on or under any property of whatsoever nature or kind of a Borrower, or any Subsidiary thereof, or the discharge, emission, spill
or disposal from such property into or upon any land, the atmosphere or any watercourse, body of water or wetland of any Hazardous Material
where it has been proven that the source of the Hazardous Material is the said property to the extent that such losses, damages, costs
and expenses arise out of the relationship between the Indemnified Parties and a Borrower reflected herein including, without limitation:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the cost of defending and/or counterclaiming or claiming over against third parties in respect of any
action or matter referred to above;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any cost, liability or damage arising out of any settlement of any action referred to above to which any
Indemnified Party is a party; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">costs of any cleanup in connection with any matter referred to above.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">In the event that any claim, action, order, suit or proceeding, including, without limiting the generality
of the foregoing, any inquiry or investigation (whether formal or informal) is brought or instituted against any Indemnified Party, the
Indemnified Party shall promptly notify the Borrowers and the Borrowers shall promptly retain counsel who shall be reasonably satisfactory
to the Indemnified Parties to represent the Indemnified Parties in such claim, action, order, suit or proceeding and the Borrowers shall
pay all of the reasonable fees and disbursements of such counsel relating to such claim, action, order, suit or proceeding.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">In any such claim, action, order, suit or proceeding, the Indemnified Parties shall have the rights to
retain other counsel to act on their behalf, provided that the fees and disbursements of such other counsel shall be paid by the Indemnified
Parties unless: (i) the Borrowers and the Indemnified Parties shall have mutually agreed to the retention of such other counsel; or (ii)
the named parties to any such claim, action, order, suit or proceeding (including any added, third or impleaded parties) include the Borrowers
and the Indemnified Parties and representation of all such parties by the same counsel would be inappropriate due to actual or potential
differing interests between them (such as the availability of different defences).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Notwithstanding anything contained in this Section 11.3, none of the Indemnified Parties shall agree to
any settlement of any such claim, action, order, suit or proceeding unless the Borrowers shall have consented in writing thereto, and
the Borrowers shall not be liable for any settlement of any such claim, action, order, suit or proceeding unless they have consented in
writing thereto. The Borrowers shall be entitled to settle any such claim, action, order, suit or proceeding on any terms it deems appropriate.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The provisions of this Section 11.3 shall survive the Final Maturity Date and the repayment of all Borrowings
hereunder and the satisfaction by the Borrowers of all other obligations hereunder.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">For the purposes of this Section 11.3, &#8220;Tax Recoveries&#8221; of any Person in respect of a payment
or outlay made or incurred by such Person means the Taxes that would be saved or recovered by such Person and the creation or increase
of a loss or credit for Tax purposes which may be used to reduce Taxes payable by such Person.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;12</FONT><BR>
&#8211;&nbsp;FEES</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">12.1</TD><TD STYLE="text-align: justify">Agency, Arrangement and other Fees</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">The Borrowers shall pay to the Agents, the fees
for acting in the capacity of, inter alia, Administration Agents hereunder contained in the fee letter dated May 4, 2022 (as amended,
restated, replaced, supplemented or otherwise modified from time to time), between the Canadian Borrower and Bank of Montreal.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">12.2</TD><TD STYLE="text-align: justify">Miscellaneous</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">Fees payable by the Canadian Borrower or CMN hereunder
shall be debited by the Canadian Agent from the Cdn.$ account of the Canadian Borrower or CMN, as applicable, designated under Section
10.3 on the fifth (5<SUP>th</SUP>) Business Day of each Quarter, fees payable by the U.S. Borrower to the U.S. Agent shall be sent by
the U.S. Borrower by wire transfer to the U.S. Agent&#8217;s account designated under Section 10.1(b) on the fifth (5<SUP>th</SUP>) Business
Day of each Quarter and fees payable by the UK Borrower, the Dutch Borrower or Colliers EMEA to the European Agent shall be sent by the
UK Borrower, the Dutch Borrower or Colliers EMEA by wire transfer to the European Agent&#8217;s applicable account designated under Section
10.1(c) on the fifth (5<SUP>th</SUP>) Business Day of each Quarter and fees payable by the Australian Borrower to the Australian Agent
shall be sent by the Australian Borrower by wire transfer to the Australian Agent&#8217;s applicable account designated under Section
10.1(d) on the fifth (5<SUP>th</SUP>) Business Day of each Quarter, in each case unless otherwise directed by the applicable Borrower
to the applicable Agent prior to the fifth (5) Business Day of each Quarter.</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: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;13</FONT><BR>
&#8211;&nbsp;THE AGENTS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.1</TD><TD STYLE="text-align: justify">Agents</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">Each Lender hereby:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">appoints each Agent to act as its agent, as specified hereunder in connection with this Agreement and
any matter contemplated hereunder; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">irrevocably authorizes each Agent for the duration of such appointment to exercise such rights, powers
and discretions as are delegated to such Agent pursuant to this Agreement, the Continuing Guarantees and the other Loan Documents together
with all such rights, powers and discretions as are incidental hereto or thereto. Each Agent shall have only those duties and responsibilities
which are expressly specified in this Agreement, the Continuing Guarantees and the other Loan Documents, and it may perform such duties
by or through its agents or employees.</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">This Agreement, the Continuing Guarantees and
the other Loan Documents shall not place any Agent under any fiduciary duties in respect of any Lender. Each Agent and any other Person
to whom an Agent may delegate duties or responsibilities as permitted under Section 13.2(h) shall enjoy the same benefits, rights and
protections as those provided to the Agents under this Article &#8220;<I>mutatis mutandis</I>&#8221;.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.2</TD><TD STYLE="text-align: justify">Agents&#8217; Responsibility</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">Each Agent may:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">assume, until it is notified in writing or has actual notice or actual knowledge to the contrary, that:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any representation made by a Borrower or any of its Subsidiaries in or in connection with any of this
Agreement, any Loan Document, any notice or other document, instrument or certificate is true;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">no Event of Default has occurred; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each Borrower or a Subsidiary of a Borrower is not in breach of or in default under, its obligations under
any of this Agreement, the Continuing Guarantees or any other Loan Document;</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">and each Agent may also:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">unless such Agent has actual knowledge or actual notice to the contrary, assume that each Lender&#8217;s
address is that identified with its signature below until it has received from such Lender a notice designating some other office of such
Lender as its address and act upon any such notice until the same is superseded by a further such notice;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">engage and pay for the advice or services of any lawyers, accountants or other experts whose advice or
services may to it seem necessary, expedient or desirable and rely upon any advice so obtained;</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">unless such Agent has actual knowledge or actual notice to the contrary, rely as to matters of fact which
might reasonably be expected to be within the knowledge of a Borrower or any Subsidiary of a Borrower upon a statement signed by or on
behalf of a Borrower or any Subsidiary of a Borrower;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">unless such Agent has actual knowledge or actual notice to the contrary, rely upon any communication or
document believed by it to be genuine;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">refrain from exercising any right, power or discretion vested in it under this Agreement, any Continuing
Guarantee or any other Loan Document unless and until instructed by the Majority Lenders as to whether or not such right, power or discretion
is to be exercised and, if it is to be exercised, as to the manner in which it should be exercised;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">refrain from exercising any right, power or discretion vested in it which would or might in its opinion
be contrary to any law of any jurisdiction or any directive or otherwise render it liable to any Person, and may do anything which is
in its opinion necessary to comply with any such law or directive;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">retain for its own benefit, and without liability to account for, any fee or other sum receivable by it
for its own account;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">accept deposits from, lend money to, provide any advisory or other services to or engage in any kind of
banking or other business with any party (including any Affiliate thereof) to this Agreement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">refrain from acting in accordance with any instructions of the Majority Lenders to begin any legal action
or proceeding arising out of or in connection with any of this Agreement or any Bankers&#8217; Acceptance, or take any steps to enforce
any Continuing Guarantee, until it shall have received such security as it may require (whether by way of payment in advance or otherwise)
against all costs, claims, expenses (including legal fees) and liabilities which it will or may expend or incur in complying with such
instruction.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.3</TD><TD STYLE="text-align: justify">Agents&#8217; Duties</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">Each Agent shall:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">promptly upon receipt thereof, inform each Lender of the contents of any notice, document, request or
other information received by it in its capacity as an Agent hereunder from a Borrower or any Subsidiary of a Borrower;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">promptly notify each Lender of the occurrence of any Event of Default or any Default by a Borrower or
a Guarantor in the due performance of its obligations under this Agreement, any Continuing Guarantee or any document incidental thereto
to which it is expressed to be a party and of which the Agent has actual knowledge or actual notice;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">each time the Borrowers request the prior written consent of the Majority Lenders, use its best efforts
to obtain and communicate to the Borrowers the response of the Majority Lenders in a reasonable and timely manner having due regard to
the nature and circumstances of the request;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">subject to the foregoing provisions of this Section 13.3 and to Section 13.8, act in accordance with any
instructions given to it by the Majority Lenders and, in particular, only take steps to enforce any Continuing Guarantee in accordance
with the instructions or delegated authority of the Majority Lenders; and</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">if so instructed by the Majority Lenders, refrain from exercising any right, power or discretion vested
in it under this Agreement, the Continuing Guarantees, any other Loan Document or any document incidental thereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.4</TD><TD STYLE="text-align: justify">Protection of Agents</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">Notwithstanding anything to the contrary expressed
or implied herein, each of the Agents shall not:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">be bound to enquire as to:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">whether any representation made by a Borrower, a Guarantor or any of their Subsidiaries in or in connection
with this Agreement, the Continuing Guarantees, any other Loan Document or any document incidental thereto is true;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the occurrence or otherwise of any Event of Default;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the performance by a Borrower, a Guarantor or any of their Subsidiaries of its obligations under any of
this Agreement, the Continuing Guarantees, any other Loan Document or any document incidental thereto;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">any breach of or default by a Borrower, a Guarantor or any of their Subsidiaries of or under its obligations
under this Agreement, the Continuing Guarantees, or any other Loan Document or any document incidental thereto; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">the use or application by a Borrower of any of the proceeds of the Facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">be bound to account to any Lender for any sum or the profit element of any sum received by it for its
own account;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">be bound to disclose to any Person any information relating to a Borrower or a Guarantor if such disclosure
would or might in its opinion constitute a breach of any law or regulation or be otherwise actionable at the suit of any Person; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">accept any responsibility for the accuracy and/or completeness of any information supplied in connection
herewith or for the legality, validity, effectiveness, adequacy or enforceability of this Agreement, any Bankers&#8217; Acceptance, any
Loan Document or any document incidental hereto or thereto and no Agent shall be under any liability to any Lender as a result of taking
or omitting to take any action in relation to this Agreement, any Bankers&#8217; Acceptance, any Loan Document or any document incidental
hereto or thereto save in the case of gross negligence or wilful misconduct, and each of the Lenders agrees that it will not assert or
seek to assert against any director, officer, employee or agent of any Agent any claim it might have against any of them in respect of
the matters referred to in this Section 13.4.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.5</TD><TD STYLE="text-align: justify">Indemnification of Agents</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">Each Lender shall, on demand by an Agent, a Swingline
Lender or an Issuing Bank, as applicable, indemnify such Agent, Swingline Lender or Issuing Bank pro rata in accordance with such Lender&#8217;s
Participation at the time of such demand against any and all costs, claims, reasonable expenses (including legal fees) and liabilities
which such Agent, Swingline Lender or Issuing Bank may incur (and which have not been reimbursed by a Borrower), otherwise than by reason
of its own gross negligence or wilful misconduct, in acting in its capacity as an Agent, Swingline Lender or Issuing Bank under this Agreement,
any Bankers&#8217; Acceptance, any Loan Document or any document incidental hereto or thereto.</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.6</TD><TD STYLE="text-align: justify">Termination or Resignation of Agent</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Notwithstanding the appointment of an Agent, the Majority Lenders may (with the consent of the Canadian
Borrower prior to an Event of Default and without requiring such consent after the occurrence of an Event of Default which is continuing;
such consent not to be unreasonably withheld or delayed), upon giving an Agent 90 days prior written notice to such effect, terminate
an Agent&#8217;s appointment hereunder.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">An Agent may resign its appointment hereunder at any time without assigning any reason therefor by giving
written notice to such effect to each of the other parties hereto.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">In the event of any such termination or resignation, the Majority Lenders shall appoint a successor Agent
(with the consent of the Canadian Borrower prior to an Event of Default and without requiring such consent after the occurrence of an
Event of Default which is continuing, such consent not to be unreasonably withheld or delayed). The Administration Agent, the Canadian
Agent, the U.S. Agent, the European Agent or the Australian Agent, as the case may be, (if it is the Agent being replaced) shall deliver
copies of the Accounts to such successor and the retiring Agent shall be discharged from any further obligation hereunder but shall remain
entitled to the benefit of the provisions of this Article&nbsp;13 and the Agent&#8217;s successor and each of the other parties hereto
shall have the same rights and obligations among themselves as they would have had if such successor originally had been a party hereto
as an Agent.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">An Agent shall resign in accordance with paragraph (b) above if on or after the date which is three (3)
months before the earliest FATCA Application Date relating to any payment to the Agent under the Loan Documents, either:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">that Agent fails to respond to a request under Clause 7.9 (<I>FATCA Information</I>) and a Lender reasonably
believes that that Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the information supplied by that Agent pursuant to Clause 7.9 (<I>FATCA Information</I>) indicates that
that Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">that Agent notifies the relevant Borrowers and the Lenders that that Agent will not be (or will have ceased
to be) a FATCA Exempt Party on or after that FATCA Application Date;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">and (in each case) a Lender reasonably
believes that a Party will be required to make a FATCA Deduction that would not be required if that Agent were a FATCA Exempt Party, and
that Lender, by notice to that Agent, requires it to resign.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.7</TD><TD STYLE="text-align: justify">Rights of an Agent as Lender</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">With respect to its Commitment and its Participation,
and to Bankers&#8217; Acceptances and Letters of Credit, an Agent shall have the same rights and powers under this Agreement and any Bankers&#8217;
Acceptances as any other Lender, and it may exercise such rights and powers as though it were not performing the duties and functions
delegated to it as an Agent hereunder, and the term &#8220;Lender&#8221; or any other similar term shall, unless the context otherwise
requires, include any Agent in its capacity as a Lender.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.8</TD><TD STYLE="text-align: justify">Authorized Waivers, Variations and Omissions</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">If so authorized in writing by the Majority Lenders,
the Administration Agent may grant waivers, consents, vary the terms of this Agreement and do or omit to do all acts and things in connection
herewith or therewith. Except with the prior written agreement of all the Lenders (excluding (i) 13.8(c), and (ii) Defaulting Lenders
but, subject to subsection 14.3(e), including Defaulting Lenders in subsections 13.8(a), (b), (c), and (h) only), nothing in this Section
13.8 shall:</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"></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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">authorize any:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">decrease in the Acceptance Fee, the SOFR Margin, SONIA Margin or Euribor Margin, as applicable, the Australian
Bank Bill Rate Margin, the Letter of Credit Fee, the Canadian Prime Rate Margin, the U.S. Base Rate Margin, the U.S. Prime Rate Margin,
the Australian Base Rate Margin or the Commitment Fees; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any amendment to the amounts under the columns entitled &#8220;Adjustment to the Applicable Margin&#8221;
or &#8220;Commitment Fee&#8221; in the definition of &#8220;Applicable Sustainability Margin Adjustment&#8221;;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(for certainty, (i)
any amendment required to replace SOFR, SONIA or Euribor, as applicable, upon such Benchmark ceasing to be an available interest rate
shall only require Majority Lenders&#8217; approval and (ii) any amendment to the definitions of &#8220;Applicable Sustainability Margin
Adjustment&#8221; (but not the amounts under the columns entitled &#8220;Adjustment to the Applicable Margin&#8221; or &#8220;Commitment
Fee&#8221;), &#8220;SPT Metrics&#8221; or any definition or provision directly or indirectly related thereto shall only require Majority
Lenders&#8217; approval);</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">authorize any extension of the date for, or alteration in the amount, currency or mode of calculation
or computation of any payment of principal or interest or other amount;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">authorize any increase in the Commitment of a Lender or subject any Lender to any additional obligations
hereunder (without the written consent of such Lender);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">authorize any change in the terms of Article&nbsp;9;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">authorize any change in the definition of Majority Lenders;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">authorize any change in the terms of Sections 2.2(b), (d), (f), (h) or (j) or any component definitions
thereof (without the written consent of the Canadian Swingline Lenders, the U.S. Swingline Lender, the U.S. Sweep Depositary and/or the
Australian Swingline Lender, as applicable);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">authorize any change in the terms of Section 2.11 or any component definition thereof (without the consent
of the applicable Issuing Bank);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">authorize the release or discharge of a Borrower or a Guarantor; provided however and notwithstanding
the foregoing, the Administration Agent may, without the consent of the Lenders,</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">grant partial releases and discharges of the Continuing Guarantees in connection with any sale, lease,
transfer, assignment, disposition or conveyance by the Canadian Borrower and/or any of its Subsidiaries of properties or assets permitted
under Section 8.2(k), Section 8.3(a) or Section 8.3(e); and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">as may be required as the result of the amendments to the requirements for the delivering of security
contemplated in this agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">authorize any amendments to this Section 13.8 or Section 10.4; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">require any Lender to fund its Participation with respect to an acquisition of an Acquisition Entity by
way of a hostile takeover which may otherwise be agreed to by the Majority Lenders.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.9</TD><TD STYLE="text-align: justify">Financial Information Concerning the Borrowers or Guarantors</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">Subject to Section 13.3(a), no Agent shall have
any duty or responsibility either initially or on a continuing basis to provide any Lender with any credit or other information with respect
to the financial condition and affairs of the Borrowers or Guarantors.</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: bold 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">13.10</TD><TD STYLE="text-align: justify">Knowledge of Financial Situation of Borrowers</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">Each of the Lenders represents and warrants to
the Agents that it has made its own independent investigation of the financial condition and affairs of the Borrowers and each Guarantor
in connection with the making and continuation of its Participation in this Agreement and that it has not relied on any information provided
to it by any Agent in connection herewith or therewith, and each represents and warrants to the Agents that it shall continue to make
its own appraisal of the creditworthiness of the Borrowers and the Guarantors from time to time.</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: bold 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">13.11</TD><TD STYLE="text-align: justify">Legal Proceedings</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">No Agent shall be obligated to take any legal
proceedings against a Borrower or any other Person for the recovery of any amount due under this Agreement, the Loan Documents or under
any Bankers&#8217; Acceptances. No Lender shall bring legal proceedings against a Borrower, any Guarantor or Subsidiary hereunder or in
connection herewith, or exercise any right arising hereunder or in connection herewith over the property and assets of a Borrower, any
Guarantor or any Subsidiary, without the prior written consent of the Majority Lenders.</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: bold 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">13.12</TD><TD STYLE="text-align: justify">Capacity as Agent</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">In performing its functions and duties under this
Agreement or under any other Loan Document, each Agent shall act solely as the agent of the Lenders and shall not assume, and shall not
be deemed to have assumed, any obligation as agent or trustee for a Borrower or any other Person. No Agent shall be under any liability
or responsibility of any kind to the Borrowers, the Lenders or to any other Person arising out of or in relation to any failure or delay
in performance or breach by any Lender or Lenders or, as the case may be, by the Borrowers, any Guarantor or any other Person (other than
such Agent in respect of its own gross negligence or wilful misconduct) pursuant to or in any way in connection with this Agreement or
in connection with any other Loan Document.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.13</TD><TD STYLE="text-align: justify">Deposits or Loans Respecting the Borrowers</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">Each Agent and each of the Lenders may accept
deposits from, lend money to and generally engage in any kind of banking or other business with the Borrowers or the Guarantors without
liability to account to any Agent or any Lender.</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: bold 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">13.14</TD><TD STYLE="text-align: justify">Separate Administration Agent</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">It is the intent of the parties that there shall
be no violation of any Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction.
If an Agent believes that it may be limited in the exercise of any rights or remedies under the Loan Documents due to any Applicable Law,
such Agent may appoint an additional Person who is not so limited, as a separate collateral agent. If an Agent so appoints a collateral
agent, each right and remedy intended to be available to the Agent under the Loan Documents shall also be vested in such separate agent.
The Lenders, Agents and Issuing Banks shall execute and deliver such documents as the Agent deems appropriate to vest any rights or remedies
in such agent. If any collateral agent shall die or dissolve, become incapable of acting, resign or be removed, then all the rights and
remedies of such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by the Agent until appointment of a
new agent.</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.15</TD><TD STYLE="text-align: justify">Agent Titles</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">Each Lender, other than Bank of Montreal that
is designated (on the cover page of this Agreement or otherwise) by Bank of Montreal as an &#8220;Agent&#8221; or &#8220;Arranger&#8221;
of any type shall not have any right, power, responsibility or duty under any Loan Documents other than those applicable to all Lenders,
and shall in no event be deemed to have any fiduciary relationship with any other Lender.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.16</TD><TD STYLE="text-align: justify">Parallel Debt Obligations</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">In order to ensure the continuing validity of
the Continuing Guarantees governed German law (a) each Borrower and each Guarantor irrevocably and unconditionally undertakes (that undertaking
in respect of any amount, a &#8220;<B>Parallel Debt Obligation</B>&#8221; and in respect of all of them, the &#8220;<B>Parallel Debt Obligations</B>&#8221;)
to pay to the European Agent an amount equal to and in the same currency as all amounts from time to time due and payable by such Borrower
or Guarantor to the Lenders under the Loan Documents (the obligations to the Lenders in respect of any amount and a certain currency,
an &#8220;<B>Original Obligation</B>&#8221; and such Borrower&#8217;s or Guarantor&#8217;s obligations to the Lenders in respect of all
of them, the &#8220;<B>Original Obligations</B>&#8221;); (b) the Parallel Debt Obligations shall be separate from and independent of the
Original Obligations, so that the European Agent or Administration Agent will have an independent right to demand performance of any Parallel
Debt Obligation; (b) the Parallel Debt Obligations shall be owed to the European Agent in its own name and any Continuing Guarantee governed
by German law shall also be expanded to secure the Parallel Debt Obligations; (c) the Lenders, the Borrowers, the Guarantors and the European
Agent acknowledge that the European Agent acts in its own name and not as an agent or representative of the Lenders; (d) other than as
set out in Section 13.16(f), the Parallel Debt Obligations shall not limit or affect the existence of the Original Obligations, for which
the Lenders shall have an independent right to demand performance (to the extent permitted by this Agreement); (e) payment by the Borrowers
and Guarantors of any Parallel Debt Obligation shall to the same extent decrease and be a good discharge of the corresponding Original
Obligation owing to the Lenders and payment by the Borrowers and Guarantors of any Original Obligations to the Lenders shall to the same
extent decrease and be a good discharge of the corresponding Parallel Debt Obligation owing by it to the European Agent; and (f) without
limiting or affecting the European Agent&#8217;s right to protect, preserve or enforce its rights under any Continuing Guarantee governed
by German law, the European Agent and Administration Agent undertake to the Lenders not to exercise its rights in respect of any Parallel
Debt Obligation without the consent of the Administration Agent. Notwithstanding clause (f) above, no Borrower or Guarantor may pay any
Parallel Debt Obligation other than at the instruction of, and in the manner determined by, the European Agent. For the avoidance of doubt,
the Parallel Debt Obligations will become due and payable (<I>opeisbaar</I>) at the same time as the corresponding Original Obligations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">13.17</TD><TD STYLE="text-align: justify">Erroneous Payments.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Administration Agent notifies a Lender or Issuing Bank, or any Person who has received funds on behalf of a Lender or Issuing Bank
such Lender or Issuing Bank (any such Lender or Issuing Bank or other recipient, a &#8220;<B>Payment Recipient</B>&#8221;) that the Administration
Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that
any funds received by such Payment Recipient from the Administration Agent or any of its Affiliates were erroneously transmitted to, or
otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or Issuing Bank or other
Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees,
distribution or otherwise, individually and collectively, an &#8220;<B>Erroneous Payment</B>&#8221;) and demands the return of such Erroneous
Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administration Agent and shall be
segregated by the Payment Recipient and held in trust for the benefit of the Administration Agent, and such Lender or Issuing Bank shall
(or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but
in no event later than five (5) Business Days thereafter, return to the Administration Agent the amount of any such Erroneous Payment
(or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon
in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient
to the date such amount is repaid to the Administration Agent in same day funds at the greater of the Federal Funds Rate and a rate determined
by the Administration Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice
of the Administration Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.</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: 0in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting immediately preceding clause (a), each Lender, Issuing Bank, or any Person who has received funds on behalf of a Lender or Issuing
Bank such Lender or Issuing Bank, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a
payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administration Agent (or any of its
Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or
repayment sent by the Administration Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that
was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administration Agent (or any of its Affiliates),
or (z) that such Lender, Issuing Bank, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake
(in whole or in part) in each case:</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)
in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from
the Administration Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause (z)), in each case,
with respect to such payment, prepayment or repayment; and</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;such
Lender or Issuing Bank shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all
events, within one Business Day of its knowledge of such error) notify the Administration Agent of its receipt of such payment, prepayment
or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administration Agent pursuant to this Section
13.17(b).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender or Issuing Bank hereby authorizes the Administration Agent to set off, net and apply any and all amounts at any time owing to such
Lender or Issuing Bank under any Loan Document, or otherwise payable or distributable by the Administration Agent to such Lender or Issuing
Bank under any Loan Document with respect to any payment of principal, interest, fees or other amounts, against any amount that the Administrative
Agent has demanded to be returned under immediately preceding clause (a).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that an Erroneous Payment (or portion thereof) is not recovered by the Administration Agent for any reason, after demand therefor
by the Administration Agent in accordance with immediately preceding clause (a), from any Lender or Issuing Bank that has received such
Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on
its respective behalf) (such unrecovered amount, an &#8220;<B>Erroneous Payment Return Deficiency</B>&#8221;), upon the Administration
Agent&#8217;s notice to such Lender or Issuing Lender at any time, (i) such Lender or Issuing Bank shall be deemed to have assigned its
Loans (but not its Commitments) of the relevant class with respect to which such Erroneous Payment was made (the &#8220;<B>Erroneous Payment
Impacted Class</B>&#8221;) in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administration
Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the &#8220;<B>Erroneous
Payment Deficiency Assignment</B>&#8221;) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administration
Agent in such instance), and is hereby (together with the Borrowers) deemed to execute and deliver a Transfer Certificate (or, to the
extent applicable, an agreement incorporating a Transfer Certificate by reference pursuant to an electronic platform as to which the Administration
Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Lender or Issuing Bank
shall deliver any notes evidencing such Loans to the Borrowers or the Administration Agent, (ii) the Administration Agent as the assignee
Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition, the Administration
Agent as the assignee Lender shall become a Lender or Issuing Bank, as applicable, hereunder with respect to such Erroneous Payment Deficiency
Assignment and the assigning Lender or assigning Issuing Bank shall cease to be a Lender or Issuing Bank, as applicable, hereunder with
respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification
provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender or assigning Issuing Bank
and (iv) the Administration Agent may reflect in the register its ownership interest in the Loans subject to the Erroneous Payment Deficiency
Assignment. The Administration Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment
and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender or Issuing Bank
shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administration Agent shall retain all other
rights, remedies and claims against such Lender or Issuing Bank (and/or against any recipient that receives funds on its respective behalf).
For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or Issuing Bank and such
Commitments shall remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that, except
to the extent that the Administration Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency
Assignment, and irrespective of whether the Administration Agent may be equitably subrogated, the Administration Agent shall be contractually
subrogated to all the rights and interests of the applicable Lender or Issuing Bank under the Loan Documents with respect to each Erroneous
Payment Return Deficiency (the &#8220;<B>Erroneous Payment Subrogation Rights</B>&#8221;).</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">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the
Borrowers or any other Guarantor, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount
of such Erroneous Payment that is, comprised of funds received by the Administration Agent from the Borrowers or any other Guarantor for
the purpose of making such Erroneous Payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by Applicable Law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives,
and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Administration Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based
on &#8220;discharge for value&#8221; or any similar doctrine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
party&#8217;s obligations, agreements and waivers under this Section 13.17 shall survive the resignation or replacement of the Administration
Agent, any transfer of rights or obligations by, or the replacement of, a Lender or Issuing Bank, the termination of the Commitments and/or
the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;14</FONT><BR>
&#8211;&nbsp;ASSIGNMENTS AND TRANSFERS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.1</TD><TD STYLE="text-align: justify">Benefit of Agreement</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">This Agreement shall be binding upon and enure
to the benefit of each party hereto and its successors and permitted assigns.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14.2</TD><TD STYLE="text-align: justify">Assignments and Transfers by a Borrower or a Guarantor</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">No Borrower nor Guarantor shall be entitled to
assign or transfer all or any of its rights, benefits and obligations hereunder.</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: bold 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">14.3</TD><TD STYLE="text-align: justify">Assignments and Transfers by a Lender</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Subject to Section 14.4, any Lender may, at its cost, assign or transfer:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to an affiliate of such Lender at any time; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">with:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">the consent of the Canadian Agent with respect to a Canadian Lender, the U.S. Agent with respect to a
U.S. Lender, the European Agent with respect to the UK Lender or Colliers EMEA Lender, the Australian Agent with respect to an Australian
Lender and the Issuing Bank and the Swingline Lenders (which consents shall not be unreasonably withheld or delayed); and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">(unless there exists an Event of Default) the consent of the Canadian Borrower (which shall not be unreasonably
withheld or delayed)</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">and upon such terms and conditions as
such Lender shall determine, all or any portion of its rights, benefits and/or obligations hereunder in relation to a portion of such
Lender&#8217;s Commitment of not less than, with respect to the Canadian Facilities, U.S.$2,500,000, with respect to the U.S. Facilities,
U.S.$2,500,000, with respect to the UK Revolving Facility, U.S.$2,000,000, with respect to the Colliers EMEA Revolving Facility, U.S.$2,500,000
and with respect to the Australian Facilities, U.S.$2,500,000, to an assignee or a transferee which in the case of assignments by a Canadian
Lender is hereinafter referenced to as a &#8220;<B>Canadian Assignee</B>&#8221; and in the case of assignments by a U.S. Lender, is a
Person which can comply with the provisions of Section 7.11(a) of this Agreement and provides evidence thereof satisfactory to the U.S.
Borrower acting reasonably and is in the business of making loans a &#8220;<B>U.S. Assignee</B>&#8221;, in the case of assignments by
a UK Lender is hereinafter referenced to as a &#8220;<B>UK Assignee</B>&#8221;, in the case of assignments by a Colliers EMEA Lender,
is hereinafter referenced to as a &#8220;<B>Colliers EMEA Assignee</B>&#8221; and in the case of assignments by an Australian Lender,
is hereinafter referenced to as an &#8220;<B>Australian Assignee</B>&#8221;; provided that in the case of any assignment or transfer by
a Lender there is a corresponding assignment or transfer by its related Lender under each of the Facilities (which may, in certain circumstances,
be the same institution) to related assignees under each Facility (which may, in certain circumstances, be the same institution) of an
amount which bears the same proportion to the related Lender&#8217;s Commitment as the amount assigned or transferred by the original
assigning Lender bears to its Commitment. As an example, in the case of an assignment or transfer by a Canadian Lender there shall be
a corresponding assignment or transfer by the related U.S. Lender, UK Lender, Colliers EMEA Lender and Australian Lender, as applicable,
(which may, in certain circumstances, be the same institution) to a U.S. Assignee, UK Assignee, Colliers EMEA Assignee and Australian
Assignee, as applicable, related to the Canadian Assignee (which may, in certain circumstances, be the same institution) of an amount
which bears the same proportion to the related U.S. Lender&#8217;s Commitment, UK Lender&#8217;s Commitment, Colliers EMEA Lender&#8217;s
Commitment and Australian Lender&#8217;s Commitment, as applicable, as the amount assigned or transferred by the Canadian Lender bears
to the Canada Lender&#8217;s Commitment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Where obligations of any Lender are so assigned or transferred, the assignee or transferee shall confirm
in writing to the Borrowers, the Issuing Bank, the Swingline Lenders and the Canadian Agent, the U.S. Agent, the European Agent and the
Australian Agent, as applicable, as the case may be, prior to such assignment or transfer taking effect, that it shall be bound towards
the Borrowers and the Agents by the terms hereof relating to such obligations. On the assignment and transfer being made and such written
confirmation, as aforesaid, being delivered to the Borrowers and such Agent and Issuing Bank and Swingline Lenders, such Lender shall
be relieved of its obligations to the extent of such assignment or transfer thereof and such assignee or transferee shall become a Lender
for all purposes of this Agreement and the related documents and transactions provided herein or contemplated thereby to the extent of
such assigned or transferred interest on the fifth (5<SUP>th</SUP>) Business Day following receipt by the Issuing Bank and the Swingline
Lenders and the Canadian Agent, the U.S. Agent, the European Agent or the Australian Agent, as applicable, of the confirmation of assignment.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">If:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a Lender assigns or transfers any of its rights or obligations under the Loan Documents in accordance
with Section 14.3(a) of this Agreement or changes its Lending Office; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">as a result of circumstances existing at the date the assignment transfer or change occurs, a Relevant
Borrower would be obliged to make a payment or an increased payment to the relevant assignee, transferee or Lender acting through its
new Lending Office under Section 7 of this Agreement,</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">then the relevant assignee, transferee
or Lender acting through its new Lending Office is only entitled to receive payment under that Section to the same extent as the existing
Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">In connection with any assignment by a Defaulting Lender, such assignment shall be effective only upon
payment by the assignee (permitted above) or Defaulting Lender to the Agent of an aggregate amount sufficient, upon distribution (through
direct payment, purchases of participations or other compensating actions as the Agent deems appropriate), (a) to satisfy all funding
and payment liabilities then owing by the Defaulting Lender hereunder, and (b) to acquire its Participation of all Loans and Letter of
Credit obligations. If an assignment by a Defaulting Lender shall become effective under Applicable Law for any reason without compliance
with the foregoing sentence, then the assignee shall be deemed a Defaulting Lender for all purposes until such compliance occurs.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">If a Lender (a) fails to give its consent to any amendment, waiver or action for which consent of all
Lenders was required and Majority Lenders consented, or (b) is a Defaulting Lender, then, in addition to any other rights and remedies
that any Person may have, the Agent or Canadian Borrower may, by notice to such Lender within 120 days after such event, require such
Lender to assign all of its rights and obligations under the Loan Documents to one or more eligible assignees, identified in Section 14.3,
pursuant to appropriate documentation, within 20 days after the notice. The Agent is irrevocably appointed as attorney-in-fact to execute
any such documentation if the Lender fails to execute it. Such Lender shall be entitled to receive, in cash, concurrently with such assignment,
all amounts owed to it under the Loan Documents at par, including all principal, interest and fees through the date of assignment (but
excluding any prepayment charge).</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary herein, no assignment may be made to a Borrower, any Affiliate
of a Borrower, natural persons (or holding companies, investment vehicles, or trusts for, or owned and operated for the primary benefit
of, natural persons).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.4</TD><TD STYLE="text-align: justify">Transfer Certificate</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">If any Lender wishes to assign or transfer all
or any of its rights, benefits and obligations hereunder in accordance with Section 14.3, then such assignment or transfer shall be effected
by the delivery by such Lender to the Administration Agent, Canadian Agent, the U.S. Agent, the European Agent, the Australian Agent,
the Issuing Bank, the Swingline Lenders and the Borrowers of a duly completed and executed Transfer Certificate whereupon, to the extent
that in such Transfer Certificate the Lenders party thereto seeks to assign or transfer its rights and obligations hereunder:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the applicable Borrower(s) and such Lender shall each be released from further obligations to the other
hereunder, and their respective rights against each other shall be cancelled (such rights and obligations being referred to in this Section&nbsp;14.4
as &#8220;discharged rights and obligations&#8221;);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the applicable Borrower(s) and the Transferee party thereto shall each assume obligations towards and
acquire rights in respect of each other which differ from the discharged rights and obligations only insofar as the obligations so assumed
and the rights so acquired by the Borrowers are owed to and constituted by claims against such Transferee and not such Lender, so that
the Borrowers and the Transferee shall have the same rights and obligations towards each other which they would have acquired had the
Transferee been an original party hereto; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Agents, the Transferee and the other Lenders shall acquire the same rights and assume the same obligations
between themselves as they would have acquired and assumed had the Transferee been an original party hereto with the obligations assumed
and the rights acquired by it as a result of such assignment or transfer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.5</TD><TD STYLE="text-align: justify">Notice</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">The Canadian Agent, the U.S. Agent, the European
Agent or the Australian Agent, as the case may be, shall notify promptly the appropriate parties hereto of the receipt by it of any Transfer
Certificate, and shall promptly deliver a copy of such Transfer Certificate to the Borrowers.</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: bold 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">14.6</TD><TD STYLE="text-align: justify">Sub-Participations</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">Any Lender may, at its own cost, grant one or
more sub-participations in all or any portion of its rights, benefits and/or obligations hereunder to third parties, without the consent
of the Borrowers, and upon such terms and conditions as such Lender shall determine, provided that, notwithstanding any such sub-participation,
such Lender shall remain, in so far as the other parties hereto are concerned, entitled to its rights and benefits hereunder and bound
by its obligations hereunder and the Borrowers, the other Lenders and the Agents shall not be obliged to recognize any such third party
as having the rights against any of them which it would have if it had been a party hereto, and provided further that in the case of any
sub-participation by a Lender to a participant, there shall be a corresponding sub-participation by its related Lender under each of the
Facilities (which may, in certain circumstances be the same institution) to a related participant under each of the Facilities related
to the original participant of an amount which has the same proportion to the related Lender&#8217;s Commitment as the amount sub-participated
by the original participating Lender has to the related Lender&#8217;s Commitment. For greater certainty, the Borrowers shall not be obligated
to pay, in respect of any rights, benefits and/or obligations in which a Lender has granted one or more such sub-participations, to such
Lender or to any sub-participant thereof any amount(s) pursuant to Article&nbsp;7 of this Agreement which is (are) greater than the amount(s),
if any, which the Borrowers would otherwise have been obligated to pay in respect of such rights, benefits and/or obligations to such
Lender, had such sub-participation(s) not been granted. Notwithstanding anything to the contrary herein, no participation may be made
to a Borrower, any Affiliate of a Borrower, natural persons (or holding companies, investment vehicles, or trusts for, or owned and operated
for the primary benefit of, natural persons), or Defaulting Lenders.</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">Each Lender who has granted a participation to
a Participant shall not be required to obtain the consent of such Participant to any amendment, waiver or other modification of any Loan
Documents other than that which forgives principal, interest or fees, reduces the stated interest rate or fees payable with respect to
any Loan or Commitment in which such Participant has an interest, postpones the Final Maturity Date or any date fixed for any regularly
scheduled payment of principal, interest or fees on such Loan or Commitment, or releases any Borrower, Guarantor.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.7</TD><TD STYLE="text-align: justify">Disclosure</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">Each Lender is hereby authorized by the Borrowers
and each Guarantor to disclose to any proposed assignee, Transferee or sub-participant information in such Lender&#8217;s possession relating
to the Borrowers and each Guarantor provided that such proposed assignee, transferee or sub-participant shall have executed and delivered
to such Lender a written undertaking to keep confidential any such information which is not publicly available.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.8</TD><TD STYLE="text-align: justify">Assignment to Federal Reserve Bank</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">Notwithstanding anything to the contrary provided
herein, without seeking or obtaining the consent of any party, any U.S. Lender may at any time assign and transfer all or any portion
of its rights under this Agreement and any promissory notes issued to such U.S. Lender hereunder to a Federal Reserve Bank in the United
States. No such assignment shall release such Lender from its obligations hereunder.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">14.9</TD><TD STYLE="text-align: justify">Assignment of Swingline Loans and Commitments</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary provided herein, the Canadian Borrower, in consultation with
The Toronto-Dominion Bank, in its capacity as a Canadian Swingline A Lender, shall on a date that is not later than six (6) months from
the date of this Agreement, deliver to the Administration Agent a written notice (the &#8220;<B>Swingline Lender Change Notice</B>&#8221;)
confirming that as of such date The Toronto-Dominion Bank, in its capacity as Canadian Swingline A Lender, ceases to be a Canadian Swingline
Lender.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Following the delivery of the Swingline Lender Change Notice, the Canadian Swingline A Lender Commitment
shall be automatically reallocated to the Canadian Revolving Facility on a pro rata basis.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;15</FONT><BR>
&#8211;&nbsp;GOVERNING LAW,<BR>
COURTS AND JUDGMENT CURRENCY</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">15.1</TD><TD STYLE="text-align: justify">Governing Law</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">This Agreement shall be governed by and construed
in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein.</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: bold 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">15.2</TD><TD STYLE="text-align: justify">Courts</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">Any legal action or proceeding with respect to
this Agreement or any other Loan Document against a Borrower or 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.
Each Borrower and each Guarantor hereby accepts, for itself and in respect of its assets and revenues, generally and unconditionally the
non-exclusive jurisdiction of the aforesaid courts.</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">Each Guarantor not domiciled and/or resident in
Canada hereby irrevocably designate and appoint the Canadian Borrower (the &#8220;<B>Process Agent</B>&#8221;) at its registered office
from time to time and of which the Administration Agent shall have been notified, which office is currently located at <B><I>100 King
Street West, 5<SUP>th</SUP> Floor, First Canadian Place, Toronto, Ontario M5X 1H3</I></B>, as the authorized agent of each of the non-Canadian
Borrowers and each such Guarantor upon which process may be served in any suit or proceeding arising out of or in connection with this
Agreement or any Continuing Guarantee or other Loan Document relating hereto or thereto 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 non&#45;Canadian Borrower
or such Guarantor by the Person serving the same shall, to the extent permitted by law, be deemed in every respect to be effective service
of process on such non&#45;Canadian Borrower or such Guarantor, as the case may be. Notwithstanding the address noted on the execution
pages hereof, process may be served on a Borrower at its registered office. However, nothing in this Section 15.2 shall affect the right
of any Agent or Lender to serve legal process in any other manner permitted by law or affect the right of any Agent or Lender to bring
any action or proceeding against a Borrower or Guarantor or their properties in the courts of any other jurisdiction including, without
limitation the State of New York, London, England, Amsterdam, Netherlands or New South Wales, Australia.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">15.3</TD><TD STYLE="text-align: justify">Judgment Currency</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">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 &#8220;<B>Original Currency</B>&#8221;) into another currency (the &#8220;<B>Second Currency</B>&#8221;),
the rate of exchange applied shall be that at which, in accordance with normal banking procedures, a Lender could purchase, in the Toronto
foreign exchange market, the Original Currency with the Second Currency on the date two (2) Business Days preceding that on which judgment
is given. Each Borrower and each Guarantor agrees that its obligation in respect of any Original Currency due from it to any Lender 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 Lender receives payment of any sum so adjudged to be due hereunder in the Second Currency such Lender 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 Borrower and each Guarantor agrees as a separate obligation and notwithstanding any such payment or judgment
to indemnify such Lender against such loss.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The term &#8220;rate of exchange&#8221; in this Section 15.3 means the spot rate at which the Lender 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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;16</FONT><BR>
&#8211;&nbsp;MISCELLANEOUS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.1</TD><TD STYLE="text-align: justify">Equal Ranking of Lenders</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">The Lenders, and to the extent necessary the Borrowers,
agree that any indebtedness of a Borrower towards any of the Agents and any of the Lenders:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">hereunder (including Banking Services); and</TD></TR></TABLE>
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    <!-- Field: /Page -->

<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">under Hedging Agreements (i) for so long as such Lender remains a Lender hereunder or (ii) in respect
of a Lender who is no longer a Lender hereunder, provided that such Hedging Agreement was entered into with such Lender (or an Affiliate
of such Lender) when such Lender was a Lender hereunder,</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">are Obligations and shall be guaranteed by the
Continuing Guarantee and shall be recoverable by the Agents in accordance with the terms of this Agreement, the Continuing Guarantee and
the Loan Documents and all such obligations shall rank equally without preference or distinction with the indebtedness of a Borrower towards
any Lender hereunder (including Banking Services) or under any Hedging Agreements.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.2</TD><TD STYLE="text-align: justify">Sharing of Information</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">Each Borrower and each Guarantor agree that the
Agents and the Lenders may share amongst themselves any information which any of them may possess concerning any Borrower or Guarantor,
as the case may be, in respect of a Borrower&#8217;s or a Guarantor&#8217;s undertakings, obligations or indebtedness towards any Lender
pursuant to this Agreement as well as any payment received from a Borrower or a Guarantor by any Lender pursuant to this Agreement.</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: bold 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">16.3</TD><TD STYLE="text-align: justify">Severability</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">If any of the provisions of this Agreement, any
Article, any Section or any Bankers&#8217; Acceptance shall be unenforceable or invalid in any jurisdiction, the validity and enforceability
of such provisions in any other jurisdiction shall not be impaired thereby nor shall the enforceability and validity of any other provisions
of this Agreement, any Article, any Section or any Bankers&#8217; Acceptance be impaired thereby.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.4</TD><TD STYLE="text-align: justify">Remedies and Waivers</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">No failure to exercise, and no delay in exercising,
on the part of the Agents or the Lenders or any of them, any right or remedy hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or
remedy. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.</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: bold 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">16.5</TD><TD STYLE="text-align: justify">Direct Obligation</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">Notwithstanding any other provision hereof, the
Borrowers shall be obligated directly towards the Agents and each of the Lenders in respect of the Participation of each of the Lenders
which are made available to such Borrower as well as any other amounts which may be payable by the Borrowers pursuant to or in connection
with this Agreement or any Borrowings. The obligations of each of the Lenders are independent from one another, are not joint and several,
and may not be increased, reduced, extinguished or otherwise affected due to the default of another Lender pursuant hereto. Any default
of any party hereto in the performance of its obligations shall not release any of the other parties hereto from the performance of any
of its respective obligations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.6</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following provisions shall govern in respect
of notices or communications contemplated hereunder:</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">unless otherwise stated, each communication to be made hereunder shall be made in writing;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all communications or notices to be made to:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any Borrower, shall be made to the Canadian Borrower, as provided in Section 16.6(c); and</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a Guarantor, shall be made to such Guarantor with a copy to the Canadian Borrower, as provided in Section
16.6(c);</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">subject to Section 16.6(b) and to an Agent&#8217;s irrevocable right to deliver communications or notices
to the Canadian Borrower&#8217;s address specified in Section 15.2, any written communication or document to be made or delivered by one
party to another pursuant to this Agreement shall (unless otherwise specified herein or that other party has by notice to the Agent specified
another address or facsimile number) be made or delivered to that other Person at the address, facsimile number or email address identified
with its signature below and shall in any event be deemed to have been made or delivered or (in the case of any other form of written
communication) when left at that address or otherwise received or, as the case may be, ten (10) days after being deposited in the post
first class postage prepaid in an envelope addressed to it at that address, provided that any communication or document to be made or
delivered to any Agent shall be effective only when received by such Agent; it is agreed that parties shall not send communications by
mail or postal service when there is an actual or likely pending strike or similar disruption of mail or postal services;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">subject to Section 16.6(b), where any provision of this Agreement specifically contemplates telephone
communication, such communication shall (unless otherwise specified herein or that other party has by written notice to the Agents specified
another telephone number) be made to that other party at the telephone number identified with its signature below; each such telephone
communication shall be expressed to be for the attention of the officer whose name has been identified with its signature below; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">each party hereto shall confirm promptly by writing any telephone communication made by it to another
party pursuant to this Agreement, however the absence of such confirmation shall not affect the validity of such communication.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.7</TD><TD STYLE="text-align: justify">Counterparts</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">This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.</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: bold 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">16.8</TD><TD STYLE="text-align: justify">Calculation/Limit on Rate of Interest</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">for purposes of this agreement whenever interest is to be paid on a basis of a year of less than a calendar
year (the &#8220;calculation period&#8221;) the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent,
is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided
by the calculation period.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Notwithstanding any provision contained in this Agreement, the Borrowers shall not be obliged to make
any payments of interest or other amounts payable to a Lender hereunder in excess of the amount or rate which would be prohibited by Applicable
Law or would result in the receipt by a Lender of interest at a criminal rate (as such terms are construed under the Criminal Code (Canada)
or other Applicable Law).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">In the event that any such payments are limited or prohibited as provided in Section 16.8(a), the Lenders
shall have no further obligation to make any Borrowings available hereunder and the entire amount of Borrowings then outstanding shall
become immediately due and payable.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts which are treated as interest on such Loan under Applicable Law (collectively the &#8220;<B>Charges</B>&#8221;),
shall exceed the maximum lawful rate (the &#8220;<B>Maximum Rate</B>&#8221;) which may be contracted for, charged, taken, received or
reserved by the Lender holding such Loan in accordance with Applicable Law, the rate of interest payable in respect of such Loan hereunder,
together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and
Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be
cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the
Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Rate to the date of repayment,
shall have been received by such Lender.</TD></TR></TABLE>
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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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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.9</TD><TD STYLE="text-align: justify">USA Patriot Act Notice</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">Each Lender, as applicable, hereby notifies the
Borrowers that pursuant to the requirements of the USA <I>Patriot Act</I> (Title III of Pub.: 107-56 (signed into law October 26, 2001))
(the &#8220;<B>Patriot Act</B>&#8221;), it is required to obtain, verify, and record information that identifies each Borrower, which
information includes the name of each Borrower and Guarantor and other information that will allow such Lender to identify each Borrower
and Guarantor in accordance with the Patriot Act, and the Borrowers agree to provide such information from time to time to any Lender.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.10</TD><TD STYLE="text-align: justify">Canadian Anti-Money Laundering Legislation.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each Borrower and Guarantor acknowledges that, pursuant to the <I>Proceeds of Crime (Money Laundering)
and Terrorist Financing Act</I> (Canada) and other applicable anti-money laundering, anti-terrorist financing, government sanction and
&#8220;know your client&#8221; laws (collectively, including any guidelines or orders thereunder, &#8220;<B>AML Legislation</B>&#8221;),
the Lenders may be required to obtain, verify and record information regarding the Borrowers and Guarantors and their respective directors,
authorized signing officers, direct or indirect shareholders or other Persons in control of the Borrowers and Guarantors, and the transactions
contemplated hereby. Each Borrower and Guarantor shall promptly provide all such information, including supporting documentation and other
evidence, as may be reasonably requested by any Lender or any prospective assignee or participant of a Lender, any Issuing Bank or any
Agent, in order to comply with any applicable AML Legislation, whether now or hereafter in existence.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If the Agent has ascertained the identity of any Borrower and Guarantor or any authorized signatories
of the Borrowers and Guarantors for the purposes of applicable AML Legislation, then the Agent:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">shall be deemed to have done so as an agent for each Lender, and this Agreement shall constitute a &#8220;written
agreement&#8221; in such regard between each Lender and the Agent within the meaning of the applicable AML Legislation; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">shall provide to each Lender copies of all information obtained in such regard without any representation
or warranty as to its accuracy or completeness.</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">Notwithstanding the preceding sentence and except
as may otherwise be agreed in writing, each of the Lenders agrees that neither the Agent has any obligation to ascertain the identity
of the Borrowers and Guarantors or any authorized signatories of the Borrowers and Guarantors on behalf of any Lender, or to confirm the
completeness or accuracy of any information it obtains from any Borrower and Guarantor or any such authorized signatory in doing so.</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; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16.11</TD><TD STYLE="text-align: justify">Know Your Customer</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">At the request of any Agent, the Borrowers shall
promptly supply or procure the supply of documentation and other evidence as is reasonably requested by such Agent (on its behalf or for
any other Agent, Lender or Issuing Bank or prospective Agent, Lender or Issuing Bank) in order for such Person to comply with all necessary
AML Legislation and other &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including, in the UK, the
Money Laundering Regulations 2007, Proceeds of Crime Act 2002 and Terrorism Act 2000 in connection with the transactions contemplated
in the Loan Documents.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.12</TD><TD STYLE="text-align: justify">Australian Anti-Money Laundering Legislation</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">An Australian Lender may delay, block or refuse to process any payment or other transaction without incurring
any liability if the Australian Lender knows or reasonably suspects that the transaction or the application of its proceeds will:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">breach, or cause a Australian Lender to breach, any Applicable Laws or regulations of any jurisdiction
(including any sanctions); or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">allow the imposition of any penalty on the Australian Lender or its Affiliates under any such law or regulation,</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">including where the transaction or the
application of its proceeds involves any entity or activity the subject of any applicable sanctions of any jurisdiction binding on the
Australian Lender or its Affiliate, or the direct or indirect proceeds of unlawful activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">As soon as practicable after an Australian Lender becomes aware that it will delay, block or refuse to
process a transaction under paragraph (a), it will notify the Australian Borrower and the Australian Agent and consult in good faith but
in each case only to the extent the Australian Lender determines it is legally permitted to do so. In making that determination the Australian
Lender shall act reasonably.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Australian Borrower shall promptly advise the Australian Agent if any Australian Borrower or Australian
Guarantor enters into any Loan Document in the capacity as agent and promptly supply, or procure the supply of, such information as may
be reasonably requested by the Australian Agent (for itself or on behalf of any Australian Lender) from time to time in relation to any
principal for which an Australian Borrower or Australian Guarantor may be acting.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Each Australian Borrower or Australian Guarantor undertakes to exercise its rights and perform its obligations
under the Loan Documents in accordance with all applicable laws or regulations relating to anti-money laundering, counter-terrorism financing
or sanctions.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.13</TD><TD STYLE="text-align: justify">[Intentionally deleted]</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.14</TD><TD STYLE="text-align: justify">Acknowledgement and Consent to Bail-In of Affected Financial Institutions.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that
any liability of any Lender that is an Affected Financial Institution arising under any Loan Document, to the extent such liability is
unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and
acknowledges and agrees to be bound by:</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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the application of any Write-Down and Conversion Powers by an the applicable Resolution Authority to any
such liabilities arising hereunder which may be payable to it by any Lender that is an Affected Financial Institution; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the effects of any Bail-In Action on any such liability, including, if applicable:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">a reduction in full or in part or cancellation of any such liability;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a conversion of all, or a portion of, such liability into shares or other instruments of ownership in
such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on
it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability
under this Agreement or any other Loan Document; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion
Powers of any the applicable Resolution Authority.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.15</TD><TD STYLE="text-align: justify">Borrower Acknowledgement</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">In connection with all aspects of each transaction
contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each
Borrower acknowledges and agrees that: (i) (A) the arranging and other services regarding this Agreement provided by the Lenders are arm&#8217;s-length
commercial transactions between the Borrowers and their Affiliates, on the one hand, and the Lenders, on the other hand, (B) each Borrower
has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each Borrower is
capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the
other Loan Documents; (ii) (A) each of the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing
by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for any Borrower or any of its
Affiliates, or any other Person and (B) no Lender has any obligation to any Borrower or any of its Affiliates with respect to the transactions
contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) each of the Lenders
and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrowers
and their Affiliates, and no Lender has any obligation to disclose any of such interests to any Borrower or its Affiliates.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.16</TD><TD STYLE="text-align: justify">Acknowledgement Regarding Any Supported QFCs</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">To the extent that the Loan Documents provide
support, through a guarantee or otherwise, for any Hedging Agreements or any other agreement or instrument that is a QFC (such support,
&#8220;<B>QFC Credit Support</B>&#8221;, and each such QFC, a &#8220;<B>Supported QFC</B>&#8221;), the parties acknowledge and agree as
follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and
Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the &#8220;<B>U.S.
Special Resolution Regimes</B>&#8221;) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding
that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the
United States or any other state of the United States):</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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">In the event a Covered Entity that is party to a Supported QFC (each, a &#8220;<B>Covered Party</B>&#8221;)
becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC
Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property
securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would
be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation
and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or
a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the
Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party
are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime
if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation
of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no
event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.</TD></TR></TABLE>
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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">As used in this Section 16.16, the following terms have the following meanings:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">&#8220;<B>BHC Act Affiliate</B>&#8221; of a party means an &#8220;affiliate&#8221; (as such term is defined
under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">&#8220;<B>Covered Entity</B>&#8221; means any of the following: (i) a &#8220;covered entity&#8221; as
that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 252.82(b); (ii) a &#8220;covered bank&#8221; as that term
is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 47.3(b); or (iii) a &#8220;covered FSI&#8221; as that term is defined
in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(b).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">&#8220;<B>Default Right</B>&#8221; has the meaning assigned to that term in, and shall be interpreted
in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as applicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&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: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">&#8220;<B>QFC</B>&#8221; has the meaning assigned to the term &#8220;qualified financial contract&#8221;
in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">16.17</TD><TD STYLE="text-align: justify">Waiver of Jury Trial</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt">EACH OF THE BORROWERS,
THE GUARANTORS AND THE AGENTS IRREVOCABLY WAIVES ITS RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT
OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING
OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY AGENT RELATED PERSON, PARTICIPANT OR ASSIGNEE,
WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. EACH OF THE BORROWERS, THE GUARANTORS AND THE AGENTS AGREES THAT ANY
SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE
THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION 16.17 AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING
WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION
HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article&nbsp;17</FONT><BR>
AMENDMENT AND RESTATEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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 amends and
restates in its entirety the Second Amended and Restated Credit Agreement as of the Effective Date and upon the effectiveness of this
Agreement, the terms and provisions of the Second Amended and Restated Credit Agreement shall be superseded hereby. As of the Effective
Date, all references to the &#8220;Credit Agreement&#8221; (or words of similar meaning) contained in the Loan Documents delivered in
connection with the Original Credit Agreement, the First Amended and Restated Credit Agreement and the Second Amended and Restated Credit
Agreement shall, and shall be deemed to, refer to this Agreement. Notwithstanding the amendment and restatement of the Second Amended
and Restated Credit Agreement by this Agreement, the Obligations of the First Amendment Credit Parties and the Additional Guarantors outstanding
under the Second Amended and Restated Credit Agreement as of the Effective Date shall remain outstanding and shall constitute continuing
Obligations and shall continue as such under this Agreement and shall not be deemed to evidence or result in a novation or repayment and
reborrowing of such Obligations.</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>AS WITNESS</B> the hands
of the duly authorized representatives of the parties hereto on the execution pages hereof as of the day and year first before written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0.5in">(Signature pages follow)</P>

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

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

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

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

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; 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="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GROUP INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Vice President, Legal Counsel &amp; Corporate Secretary</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS MACAULAY NICOLLS INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC., as U.S. Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>GLOBESTAR LIMITED, a company incorporated in England and Wales with registration number 05159841, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, a company incorporated in England and Wales with registration number 10053084, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., as Dutch Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</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>

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

<!-- Field: Page; Sequence: 168 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: left">Executed by <FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Colliers International Holdings (Australia) Limited</B></FONT> ACN 008 178 238 as Australian Borrower in accordance with section&nbsp;127 of the <I>Corporations Act 2001:</I></TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; Robert Wall</I></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; Malcom Tyson</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director/company secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">ROBERT WALL</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">MALCOM TYSON</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director/company secretary <BR>
(BLOCK LETTERS)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director <BR>
(BLOCK LETTERS)</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>

<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>

<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>
  <!-- Field: Page; Sequence: 169 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL USA, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CIVAS HOLDINGS, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL WA, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL REMS US, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL CA, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<!-- Field: Page; Sequence: 170 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GREATER LOS ANGELES, LLC as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL VALUATION &amp; ADVISORY SERVICES, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>FS WILLIAMS ACQUISITIONCO LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS PARRISH INTERNATIONAL, INC., as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Vice President/Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INVESTMENT MANAGEMENT HOLDINGS, INC., as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary/Treasurer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</TD></TR>
</TABLE>

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></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: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL FLORIDA, LLC, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL FINCO (CANADA) INC., as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;President/Secretary</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<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: left">&nbsp;</P>

<!-- Field: Page; Sequence: 172 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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: left"></P>

<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: top">
    <TD STYLE="width: 49%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Executed by <B>COLLIERS INTERNATIONAL (NSW) PTY LIMITED
    </B>ACN 001 401 681 as a Guarantor in accordance with section&nbsp;127 of the <I>Corporations Act 2001:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; Robert Wall</I></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; Malcom Tyson</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director/company secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">ROBERT WALL</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">MALCOM TYSON</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director/company secretary <BR>
(BLOCK LETTERS)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director <BR>
(BLOCK LETTERS)</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: top">
    <TD STYLE="width: 49%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Executed by <B>COLLIERS INTERNATIONAL (VICTORIA)
    PTY LTD </B>ACN 005 032 940 as a Guarantor in accordance with section&nbsp;127 of the <I>Corporations Act 2001:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD>
    <TD STYLE="width: 2%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; Robert Wall</I></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><I>&lt;Signed&gt; John Marasco</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director/company secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">ROBERT WALL</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">JOHN MARASCO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director/company secretary <BR>
(BLOCK LETTERS)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt dotted; text-align: left">Name of director <BR>
(BLOCK LETTERS)</TD></TR>
  </TABLE>
  <!-- Field: Page; Sequence: 173 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS NEW ZEALAND LIMITED, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Authorized Signor</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GERMANY HOLDING GMBH, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS MACAULAY NICOLLS (CYPRUS) LIMITED, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS LIMITED, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL CONSULTANTS LIMITED, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL (HONG KONG) LIMITED, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Matthew Hawkins</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Matthew Hawkins</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Signed by a director of GLOBESTAR LIMITED for
    and on behalf of, and as corporate member of, COLLIERS INTERNATIONAL PROPERTY ADVISERS UK LLP, a limited liability partnership incorporated
    in England and Wales with registration number OC385143, as a Guarantor</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL PROPERTY CONSULTANTS LIMITED, a company incorporated in England and Wales with registration number 07996509, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Christopher McLernon</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Christopher McLernon</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL EMEA FINCO PLC, a company incorporated in England and Wales with registration number 11313832, as a Guarantor</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Davoud Amel-Azizpour</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Corporation</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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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">&nbsp;</P>

<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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, </B></FONT><B>as Administration Agent, Canadian Administration Agent</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Sean P. Gallaway</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Sean P. Gallaway</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>Draw Requests, Conversion Requests, Repayment
    Notices</I></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>Bank of Montreal</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>250 Yonge Street, 11th Floor</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>Toronto, Ontario M5B 2L7</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><I>Attention: Agency Services</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"><I>Tel: </I></FONT>[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"><I>Fax: </I></FONT>[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"><I>Email: </I></FONT>[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>&nbsp;</I></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>All Other Notices</I></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>BMO Capital Markets</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>100 King Street West, 5<SUP>th</SUP> Floor</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Toronto, ON M5X 1H3</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Attention: Corporate Banking</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"><I>Email: </I></FONT>[REDACTED]</P></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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration Agent</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Andrew Berryman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Andrew Berryman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Director</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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, LONDON BRANCH, </B></FONT><B>as European Agent</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Richard Pittam </I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Richard Pittam </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Managing Director </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, LONDON BRANCH, </B></FONT><B>as European Agent</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Scott Matthews</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Scott Matthews</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;CFO</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC BANK AUSTRALIA LIMITED, </B></FONT><B>as Australian Agent</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Nadia Ladak</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;Nadia Ladak</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;Country Head, International Subsidiary Banking</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>

<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>
<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>

<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>
  <!-- Field: Page; Sequence: 177 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EFFECTIVE DATE ISSUING BANK (U.S.)</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 CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>the TORONTO-DOMINION BANK, NEW YORK Branch</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Tyrone Nicholson</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Tyrone Nicholson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&#9;</TD></TR>
  </TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EFFECTIVE DATE ISSUING BANK (U.S.)</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Lynn Braun</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Lynn Braun</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: [REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: [REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&nbsp;&nbsp;2029 Century Park E, Floor 38, Los Angeles, CA, 90067-2901</TD></TR>
  </TABLE>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EFFECTIVE DATE ISSUING BANK (U.S.)</P>

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<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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A. Canada Branch</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Angelos Karistinos</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Angelos Karistinos</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&#9;181 Bay St., Toronto, ON M5J 2V8</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EFFECTIVE DATE ISSUING BANK (U.S.)</B></P>

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

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

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  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, CHICAGO BRANCH</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Berryman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Berryman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&#9;115 S. LaSalle St., 25W, Chicago, IL, 60603</TD></TR>
  </TABLE>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EFFECTIVE DATE ISSUING BANK (CANADA)</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>the TORONTO-DOMINION BANK</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Rytel</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Rytel | Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Tim Thomas</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Tim Thomas | Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

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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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EFFECTIVE DATE ISSUING BANK (CANADA)</B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Sean P. Gallaway</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Sean P. Gallaway</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Bank of Montreal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">250 Yonge Street, 11th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5B 2L7</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attention: Agency Services</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Tel: [REDACTED]Fax: [REDACTED]Email: [REDACTED]</P></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>

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<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>
<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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EFFECTIVE DATE ISSUING BANK (AUSTRALIA)</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 CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>HSBC BANK AUSTRALIA LIMITED</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Nadia Ladak</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Nadia Ladak</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Tel: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left">Fax: [REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Email: [REDACTED]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Address: Level 36, Tower 1, International Towers Sydney<BR>
100 Barangaroo Avenue, Sydney NSW 2000 Australia</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: navy">&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>

<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>

<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>
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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: navy"></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>THE TORONTO-DOMINION BANK</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Andrew Rytel</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Rytel</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Tim Thomas</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Tim Thomas</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">TD Bank Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">66 Wellington St. West, 9<SUP>th </SUP>Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5K 1A2</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Tim Thomas</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></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>

<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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>JPMORGAN CHASE BANK, N.A., </B></FONT><B>Toronto Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Jeffrey Coleman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jeffrey Coleman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Executive Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">66 Wellington St. West</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Suite 4500</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5K 1E7</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Jeffrey Coleman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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>

<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>

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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: 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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Sean P. Gallaway</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: &#9;Sean P. Gallaway</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: &#9;Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">BMO Capital Markets</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 King Street West, 5<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, ON M5X 1H3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attention: Corporate Banking</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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: 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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC BANK CANADA</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Scott Morrison</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Scott Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director, Large Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Jesse MacMasters</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jesse MacMasters</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Head, Large Corporate Banking Ontario &amp;
    Atlantic</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">16 York Street, 6<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario L3R 0M3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Scott Morrison</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE BANK OF NOVA SCOTIA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Steve Holyman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Steve Holyman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Morales</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Morales</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Associate Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">40 King St. W., 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario, M5W 2X6</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Steve Holyman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A., Canada Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Angelos Karistinos</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andelos Karistinos&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Commercial Credit Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">181 Bay Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2V8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Angelos Karistinos</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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: 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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Martin Danaj</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Martin Danaj</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Executive Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Stephen Redding</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Stephen Redding</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">161 Bay Street, Floor 8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2S8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Stephen Redding</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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: 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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>NATIONAL BANK OF CANADA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Gavin Virgo</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Gavin Virgo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Vice President</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; David Torrey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: David Torrey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Exchange Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">130 King Street West, Suite 3100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1J9</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Gavin Virgo / David Torrey</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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: 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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>U.S. BANK NATIONAL ASSOCIATION</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Kenneth S. Wong</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Kenneth S. Wong</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Senior Vice-President</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">4747 Executive Drive</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">La Jolla, CA 92121</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Kenneth S. Wong / Patrick Villani</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Jeff McInenly</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jeff McInenly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">22 Adelaide Street West, Suite 2200</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, ON M5H 4E3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Jeff McInenly</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>CANADIAN LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>MIZUHO BANK, LTD.</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Deborah Cullen</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Deborah Cullen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 Yonge Street, Suite 1102</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5C 2W1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Ambar Bansal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]&#9;</P></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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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"><B>U.S. LENDERS</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>the TORONTO-DOMINION BANK, NEW YORK Branch</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Tyrone Nicholson</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Tyrone Nicholson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Authorized Signatory</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Tyrone Nicholson</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Tyrone Nicholson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Authorized signatory</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">TD Bank North Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">222 Bay St. 15th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5K 1A2</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Agency Administration</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Lynn Braun</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Lynn Braun</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Executive Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2029 Century Park E, Floor 38</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Los Angeles, CA 90067-2901</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn.: Lynn Braun</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, C</B></FONT><B>hicago Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Andrew Berryman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Berryman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 King Street West, 5<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1H3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Sean P. Gallaway</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC BANK CANADA</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Scott Morrison</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Scott Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director, Large Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Jesse MacMasters</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jesse MacMasters</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Head, Large Corporate Banking Ontario &amp;
    Atlantic</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">16 York Street, 6<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario L3R 0M3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Scott Morrison</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE BANK OF NOVA SCOTIA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Steve Holyman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Steve Holyman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Morales</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:Andrew Morales</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Associate Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">40 King St. W., 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario, M5W 2X6</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Steve Holyman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A., Canada Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Angelos Karistinos</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Angelos Karistinos</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Commercial Credit Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">181 Bay Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2V8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Angelos Karistinos</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></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: 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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Martin Danaj</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Martin Danaj</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Executive Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Stephen Redding</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Stephen Redding</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">161 Bay Street, Floor 8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2S8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Stephen Redding</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>NATIONAL BANK OF CANADA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Gavin Vigo</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Gavin Virgo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; David Torrey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: David Torrey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Exchange Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">130 King Street West, Suite 3100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1J9</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Gavin Virgo / David Torrey</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>U.S. BANK NATIONAL ASSOCIATION</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Kenneth S. Wong</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Kenneth S. Wong </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Senior Vice-President</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">4747 Executive Drive</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">La Jolla, CA 92121</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Kenneth S. Wong / Patrick Villani</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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; text-align: justify"><B>U.S. LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Jeff McInenly</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jeff McInenly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">22 Adelaide Street West, Suite 2200</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, ON M5H 4E3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Jeff McInenly</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 30.8pt">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>US LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>MIZUHO BANK, LTD.</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Deborah Cullen</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Deborah Cullen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 Yonge Street, Suite 1102</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5C 2W1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Ambar Bansal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="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"><B>UK LENDERS</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>THE toronto-dominion BANK, </B></FONT><B>London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Philip Bates</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Philip Bates</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: MD European Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">60 Threadneedle Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">EC2R 8AP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 30.6pt">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Lynn Braun</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Lynn Braun</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Executive Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2029 Century Park E, Floor 38</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Los Angeles, CA</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn.: Lynn Braun</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, </B></FONT><B>London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Richard Pittam</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Richard Pittam</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: MD</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Scott Matthews</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>Name: Scott Matthews</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>Title: CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 King Street West, 5<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1H3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Sean P. Gallaway</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 209 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC UK BANK plc</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Adam Mahmoud</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Adam Mahmoud</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">Title: &#9;Relationship Director, International&nbsp;&nbsp;Subsidiary Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Simon Addis</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title:&#9;Director, International Subsidiary
    Banking</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">6<SUP>th </SUP>Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">71 Queen Victoria Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, EC4V 4AY</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Adam Mahmoud</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC BANK CANADA</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Scott Morrison</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Scott Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director, Large Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Jesse MacMasters</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jesse MacMasters</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Head, Large Corporate Banking Ontario &amp;
    Atlantic</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">16 York Street, 6<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario L3R 0M3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Scott Morrison</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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>

<!-- Field: Page; Sequence: 211 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE BANK OF NOVA SCOTIA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Steve Holyman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Steve Holyman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Morales</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Morales</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Associate Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">40 King St. W., 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario, M5W 2X6</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Steve Holyman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A., Canada Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Angelos Karistinos</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Angelos Karistinos</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Commercial Credit Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">181 Bay Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2V8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Angelos Karistinos</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>NATIONAL BANK OF CANADA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Gavin Virgo</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Gavin Virgo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; David Torrey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: David Torrey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Exchange Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">130 King Street West, Suite 3100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1J9</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Gavin Virgo / David Torrey</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Jeff McInenly</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jeff McInenly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">22 Adelaide Street West, Suite 2200</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, ON M5H 4E3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Jeff McInenly</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]&#9;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>MIZUHO BANK, LTD.</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Deborah Cullen</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Deborah Cullen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 Yonge Street, Suite 1102</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5C 2W1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Ambar Bansal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CANADIAN IMPERIAL BANK OF COMMERCE, London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Hortense DeGroote</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Hortense DeGroote</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Executive Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Roger Harvey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Roger Harvey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">150 Cheapside</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, EC2V 6ET</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Hortense DeGroote</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></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: left">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>UK LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>U.S. BANK NATIONAL ASSOCIATION</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Kenneth S. Wong</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Kenneth S. Wong</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Senior Vice-President</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">4747 Executive Drive</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">La Jolla, CA 92121</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Kenneth S. Wong / Patrick Villani</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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: left">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>THE toronto-dominion BANK, </B></FONT><B>London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Philip Bates</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Philip Bates</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: MD European Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">60 Threadneedle Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">EC2R 8AP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 30.6pt">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Lynn Braun</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Lynn Braun</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Executive Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">2029 Century Park E, Floor 38</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Los Angeles, CA 90067-2901</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn.: Lynn Braun</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>BANK OF MONTREAL, </B></FONT><B>London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Richard Pittam</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Richard Pittam</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: MD</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Scott Matthews</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>Name: Scott Matthews</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>Title: CFO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 King Street West, 5<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1H3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Sean P. Gallaway</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC UK BANK plc</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Adam Mahmoud</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Adam Mahmoud</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">Title: &#9;Relationship Director, International Subsidiary Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 26.1pt; text-indent: -26.1pt; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">6<SUP>th </SUP>Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">71 Queen Victoria Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, EC4V 4AY</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Adam Mahmoud</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>HSBC BANK CANADA</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Scott Morrison</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Scott Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director, Large Corporate Banking</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Jesse MacMasters</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jesse MacMasters</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Head, Large Corporate Banking Ontario &amp;
    Atlantic</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">16 York Street, 6<SUP>th</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario L3R 0M3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Scott Morrison</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE BANK OF NOVA SCOTIA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Steve Holyman</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Steve Holyman</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Andrew Morales</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Andrew Morales</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Associate Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">40 King St. W., 62<SUP>nd</SUP> Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario, M5W 2X6</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Steve Holyman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A., Canada Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Angelos Karistinos</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Angelos Karistinos</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Commercial Credit Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">181 Bay Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5J 2V8</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Angelos Karistinos</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>NATIONAL BANK OF CANADA</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Gavin Virgo</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Gavin Virgo</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; David Torrey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: David Torrey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Managing Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The Exchange Tower</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">130 King Street West, Suite 3100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5X 1J9</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Gavin Virgo / David Torrey</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Jeff McInenly</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Jeff McInenly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">22 Adelaide Street West, Suite 2200</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, ON M5H 4E3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Jeff McInenly</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: ([REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9; [REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CANADIAN IMPERIAL BANK OF COMMERCE, London Branch</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Hortense DeGroote</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Hortense DeGroote</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Executive Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Roger Harvey</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Roger Harvey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Managing Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">150 Cheapside</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">London, EC2V 6ET</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">United Kingdom</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Hortense DeGroote</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>MIZUHO BANK, LTD.</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Deborah Cullen</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Deborah Cullen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Per:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">100 Yonge Street, Suite 1102</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5C 2W1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Ambar Bansal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;[REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></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: left">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>COLLIERS EMEA LENDERS CONT&#8217;D</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>U.S. BANK NATIONAL ASSOCIATION</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%"><I>&lt;Signed&gt; Kenneth S. Wong</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Kenneth S. Wong</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Title: Senior Vice-President</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Address for Notice:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">4747 Executive Drive</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">La Jolla, CA 92121</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: Kenneth S. Wong / Patrick Villani</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telecopier No.: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email:&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Third Amended and Restated Credit Agreement &ndash; Colliers</I></FONT></P></TD></TR></TABLE><P STYLE="margin: 0pt"></P></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: left"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>HSBC
BANK AUSTRALIA LIMITED</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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 STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; font-weight: bold; width: 49%">Signed <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">for </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700">HSBC BANK AUSTRALIA LIMITED </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">(ABN 48 006 434 162) by its duly appointed attorney under power of attorney in the presence of:</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; text-align: left; font-style: italic">&lt;Signed&gt; Jonah Clarkson</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt"><I>&lt;Signed&gt; Nadia Ladak</I></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Witness Signature</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">Jonah
    Clarkson</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt"><FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">Nadia
    Ladak</FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>Print Name</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Address for Notice:</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Level 36, Tower 1, International Towers Sydney</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>100 Barangaroo Avenue, Sydney NSW 2000 Australia</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Attn: Aloysius David</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Telecopier No.: <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">[REDACTED]</FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Email: <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">[REDACTED]</FONT></TD></TR>
  </TABLE>
<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; text-align: justify"><B>&nbsp;</B></P>

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;A&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTREAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">LIST OF UNRESTRICTED
ENTITIES</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">[REDACTED]</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>

<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>

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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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;B&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM OF REPAYMENT
NOTICE</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; text-align: justify">TO:</TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BANK OF MONTREAL, as Administration Agent and
    Canadian Administration Agent, BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration Agent, BMO CAPITAL MARKETS, as Sustainability
    Structuring Agent or BANK OF MONTREAL, LONDON BRANCH, as European Administration Agent or HSBC BANK AUSTRALIA LIMITED, as Australian Agent</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">c/o</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: left">Bank of Montreal<BR>
    as Administration Agent<BR>
    250 Yonge Street, 11th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5B 2L7</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attention: Manager, Agency Services</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Fax: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">FROM:</TD>
    <TD STYLE="text-align: justify">COLLIERS INTERNATIONAL GROUP INC., COLLIERS MACAULAY NICOLLS INC., COLLIERS INTERNATIONAL HOLDINGS (USA), INC., GLOBESTAR LIMITED, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A. or COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">DATE:</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings">l</FONT></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">1</TD><TD STYLE="text-align: justify">This Repayment Notice is delivered to you pursuant to Section <B>[2.2] [6.1]</B> of the Third Amended
and Restated Credit Agreement (as in effect on the date hereof, the &#8220;Credit Agreement&#8221;) dated as of May 27, 2022. All capitalized
terms used in this Drawdown Notice shall have the respective meanings set forth in the Credit Agreement.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; 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">The undersign<B>[s] [ed]</B> hereby submit<B>[s]</B> the following <B>[permanent]</B> Repayment <B>[and
cancellation]</B>:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin: 0pt 0 0pt 0.5in;">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; text-align: justify">Bankers&#8217; Acceptances:</TD>
    <TD STYLE="width: 52%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Canadian Prime Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">U.S. Base Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">U.S. Prime Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 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>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin: 0pt 0 0pt 0.5in;">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify; width: 48%">Australian Base Rate Loan</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 52%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">SOFR Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Australian Bank Bill Rate Loan</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify"><B>[Commitment Termination Amount]</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</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">The representations and warranties set forth in the Credit Agreement were true and accurate in all material
respects when made and continue to be true and accurate in all material respects on the date hereof.</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">4</TD><TD STYLE="text-align: justify">No event has occurred and is continuing which constitutes an Event of Default or which would constitute
an Event of Default with the giving of notice and/or the lapse of time or both.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 50%; text-align: justify; font-weight: bold">Yours very truly,</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GROUP INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS MACAULAY NICOLLS INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC., as U.S. Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>GLOBESTAR LIMITED, a company incorporated in England and Wales with registration number 05159841, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, a company incorporated in England and Wales with registration number 10053084, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., as Dutch Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, </B></FONT><B>as Australian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;C&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>FORM OF TRANSFER
CERTIFICATE<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><SUP>1</SUP></B></FONT></U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in">TO:</TD><TD STYLE="text-align: justify">BANK OF MONTREAL, as Administration Agent and Canadian Administration Agent</TD></TR>
  <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration Agent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">BANK OF MONTREAL, LONDON BRANCH, as European Administration Agent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">HSBC BANK AUSTRALIA LIMITED, as Australian Agent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">ISSUING BANK</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">SWINGLINE LENDERS</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">AND TO:</TD>
    <TD STYLE="text-align: left">COLLIERS INTERNATIONAL GROUP INC., COLLIERS MACAULAY NICOLLS INC., COLLIERS INTERNATIONAL HOLDINGS (USA), INC., GLOBESTAR LIMITED, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A. AND COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED</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">WHEREAS Colliers International
Group Inc. (the &#8220;Canadian Borrower&#8221;), Colliers Macaulay Nicolls Inc. (&#8220;CMN&#8221;), Colliers International Holdings
(USA), Inc. (the &#8220;U.S. Borrower&#8221;), Globestar Limited (the &#8220;UK Borrower&#8221;), Colliers International EMEA Holdings
Limited (&#8220;Colliers EMEA), Co&ouml;peratie CMN Netherlands Holdco U.A. (the &#8220;Dutch Borrower&#8221;) and Colliers International
Holdings (Australia) Limited (the &#8220;Australian Borrower&#8221; and together with the Canadian Borrower, CMN the U.S. Borrower, the
UK Borrower, Colliers EMEA and the Dutch Borrower, the &#8220;Borrowers&#8221;), the Subsidiaries named on the execution pages thereto
as Guarantors, the banks named on the execution pages thereof as lenders (the &#8220;Lenders&#8221;), BMO Capital Markets, as Co-Lead
Arranger, Sole Bookrunner and Sustainability Structuring Agent, Bank of Montreal, as Administration Agent and Canadian Administration
Agent (the &#8220;Agent&#8221;), Bank of Montreal, Chicago Branch, as U.S. Administration Agent, Bank of Montreal, London Branch, as European
Administration Agent and HSBC Bank Australia Limited, as Australian Agent, entered into a Third Amended and Restated Credit Agreement
(as in effect on the date hereof, the &#8220;Credit Agreement&#8221;) dated as of May 27, 2022 whereby the Lenders agreed to grant the
Borrowers (a) the Canadian Revolving Facility including the Canadian Swingline Facility (as both are defined in the Credit Agreement)
in an aggregate amount of up to U.S.$<B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B>,000,000 to be made available to the Canadian
Borrower by the Canadian Lenders, (b) the U.S. Revolving Facility including the U.S. Swingline Facility (as both are defined in the Credit
Agreement) in an aggregate amount not exceeding U.S.$<B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B>,000,000 to be made available
to the U.S. Borrower by the U.S. Lenders, (c) the UK Revolving Facility (as defined in the Credit Agreement) in an aggregate amount of
up to U.S.$<B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B>,000,000 to be made available to the UK Borrower by the UK Lenders, (d)
the Colliers EMEA Revolving Facility (as defined in the Credit Agreement) in an aggregate amount not exceeding U.S.$<B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B>,000,000
to be made available to Colliers EMEA and the Dutch Borrower by the Colliers EMEA Lenders and (e) the Australian Revolving Facility including
the Australian Swingline Facility (as both are defined in the Credit Agreement) in an aggregate amount not exceeding U.S.$<B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B>,000,000
to be made available to the Australian Borrower by the Australian Lenders;</P>

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

<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: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>1
</SUP></FONT><FONT STYLE="font-size: 8pt">WARNING. Please seek Dutch legal advice (i) until the interpretation of the term &quot;public&quot;
(as referred to in Article 4.1(1) of the Capital Requirements Directive (EU/575/2013)) has been published by the competent authority,
if any amount lent to a Dutch borrower is to be transferred which is less than EUR 100,000 (or the foreign currency equivalent thereof);
and (ii) as soon as the interpretation of the term &quot;public&quot; has been published by the competent authority, if the New Lender
is considered to be part of the public on the basis of such interpretation.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">AND WHEREAS pursuant to and
in accordance with Sections 14.3 and 14.4 of the Credit Agreement the undersigned Lender may assign or transfer to, in the case of assignments
by a U.S. Lender, a Person which can comply with Section 7.11(a) of the Credit Agreement, otherwise, any other Person, all or any portion
of its rights, benefits and/or obligations under the Credit Agreement in relation to a portion of such Lender&#8217;s Commitment of not
less than U.S.$2,500,000 with respect to each particular Facility; provided that in the case of any assignment or transfer by a Lender
there is a corresponding assignment or transfer by its related Lender under each of the Facilities (which may, in certain circumstances
be the same institution) to related assignees under each Facility (which may, in certain circumstances be the same institution) of an
amount which bears the same proportion to the related Lender&#8217;s Commitment as the amount assigned or transferred by the original
assigning Lender bears to its Commitment;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">AND WHEREAS the undersigned
Lender (the &#8220;Transferor&#8221;) wishes to assign and to transfer to <FONT STYLE="font-family: Wingdings">l</FONT> (the &#8220;Transferee&#8221;)
certain of the rights, benefits and obligations of the Transferor under the Credit Agreement specified herein;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Transferor
and the Transferee agree 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: 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">All capitalized terms defined in the Credit Agreement and not otherwise defined herein have the same meaning
as in the Credit 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>
<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 Transferor with respect to the <B>[Canadian Facility] [U.S. Facility] [UK Facility] [Colliers EMEA
Facility] [Australian Facility] </B>U.S.$<FONT STYLE="font-family: Wingdings">l</FONT> being the Equivalent Amount of the principal amount
of outstanding Borrowings made by such Lender as of the date hereof, assigns and transfers to the Transferee U.S.$<FONT STYLE="font-family: Wingdings">l</FONT>
and thereby transferring such portion of the rights, benefits and obligations of the Transferor in respect of the principal amount of
the Transferor&#8217;s Commitment (collectively the &#8220;Transferred Rights, Benefits and Obligations&#8221;).</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: 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">7</TD><TD STYLE="text-align: justify">The Transferee, upon payment of the agreed amount therefor to the Transferor in immediately available
funds as such parties shall have agreed, accepts the transfer of the Transferred Rights, Benefits and Obligations (the &#8220;Transfer&#8221;)
and accepts and assumes the Transferred Rights, Benefits and Obligations (the &#8220;Assumption&#8221;).</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: 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">8</TD><TD STYLE="text-align: justify">Upon the effectiveness of such Transfer, the Transferor&#8217;s Participation shall be U.S.$<FONT STYLE="font-family: Wingdings">l</FONT>
and the Transferee&#8217;s Participation shall be U.S.$<FONT STYLE="font-family: Wingdings">l</FONT>.</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: 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">9</TD><TD STYLE="text-align: justify">The Transfer and the Assumption are governed by and subject to Sections 14.3 and 14.4 of the Credit 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>
<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">10</TD><TD STYLE="text-align: justify">The Transferee acknowledges and confirms that it has not relied upon and that the Transferor has not made
any representation or warranty whatsoever as to the due execution, legality, effectiveness, validity or enforceability of the Credit Agreement,
the Continuing Guarantees or any other documentation or information delivered by the Transferor to the Transferee in connection therewith
or for the performance thereof by any party thereto or for the financial condition of the Borrowers or the Guarantors. All representations,
warranties and conditions express or implied by law or otherwise are hereby excluded. Such sale, transfer and assignment is without recourse
to the Transferor.</TD></TR></TABLE>
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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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<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">11</TD><TD STYLE="text-align: justify">The Transferee represents and warrants that it has itself been, and will continue to be, solely responsible
for making its own independent appraisal of an investigation into the financial condition, creditworthiness, affairs, status and nature
of the Borrowers and the Guarantors and has not relied and will not hereafter rely on the Transferor to appraise or keep under review
on its behalf the financial condition, creditworthiness, affairs, status or nature of the Borrowers or the Guarantors.</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: 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">12</TD><TD STYLE="text-align: justify">Each of the Transferor and the Transferee represents and warrants to the other, that it has the capacity
and power to enter into the Transfer and the Assumption in accordance with the terms hereof and to perform its obligations arising therefrom,
and all action required to authorize the execution and delivery hereof and the performance of such obligations has been duly taken.</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: 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">13</TD><TD STYLE="text-align: justify">The Transferee will execute and deliver to the Agent a joinder, or other writing acceptable to Agent,
to the Allocation and Exchange Mechanism Agreement, dated as of the Effective Date, among Agent and Lenders establishing a mechanism for
the allocation and exchange of interests in the Loans, participations in Letters of Credit and collections thereunder.</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: 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">14</TD><TD STYLE="text-align: justify"><B>[[The Transferee confirms, for the benefit of the Agent and without liability to any Borrower, that
it is:</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B>[a Qualifying Lender (other than a treaty lender);]</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B>[a Treaty Lender;]</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B>[not a Qualifying Lender]</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>.</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: 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">15</TD><TD STYLE="text-align: justify"><B>[The Transferee confirms that the person beneficially entitled to interest payable to that Lender in
respect of an advance under a Loan Document is either:</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B>a company resident in the United Kingdom for United Kingdom tax purposes; or</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B>a partnership, each member of which is:</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><B>a company so resident in the United Kingdom; or</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><B>a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA)
the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B>a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through
a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits
(within the meaning of section 19 of the CTA) of that company.]</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></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: 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">16</TD><TD STYLE="text-align: justify">[<B>The Transferee confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference
number [<FONT STYLE="font-family: Wingdings">l</FONT>]) and is tax resident in [<FONT STYLE="font-family: Wingdings">l</FONT>]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT>,
so that interest payable to it by Relevant Borrowers (as defined by Section 7.6(d)) is generally subject to full exemption from UK withholding
tax, and requests that the [Agent] notify:</B></TD></TR></TABLE>

<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: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>2
</SUP></FONT><FONT STYLE="font-size: 8pt">Delete as applicable - each New Lender is required to confirm which of these three categories
it falls within.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>3
</SUP></FONT><FONT STYLE="font-size: 8pt">Include if New Lender comes within subparagraph (a)(ii) (a UK Non-Bank Lender) of the definition
of Qualifying Lender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>4
</SUP></FONT><FONT STYLE="font-size: 8pt">Insert jurisdiction of tax residence.</FONT></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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<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: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B>the Relevant Borrowers as at the Transfer Date; and</B></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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B>that it wishes that scheme to apply to the Agreement.]</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT></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: 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">17</TD><TD STYLE="text-align: justify">Each of the Transferor and Transferee hereby agree that the Transfer and Assumption, in accordance with
the terms hereof, shall be effected and effective five (5) Business Days from the date hereof.</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: 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">18</TD><TD STYLE="text-align: justify">This Transfer Certificate may be executed in any number of counterparts and all of such counterparts taken
together shall be deemed to constitute one and the same instrument.</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: 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">19</TD><TD STYLE="text-align: justify">This Transfer Certificate shall be governed by and construed in accordance with the laws of the Province
of Ontario, Canada.</TD></TR></TABLE>

<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: justify">__________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>5
</SUP></FONT><FONT STYLE="font-size: 8pt">Include if New Lender holds a passport under the HMRC DT Treaty Passport scheme and wishes
that scheme to apply to the Agreement.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">DATED this ____ day of ________________,
____.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">TRANSFEREE</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">TRANSFEROR</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">Per: </TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 40%">&nbsp;</TD>
  <TD STYLE="width: 2%">&nbsp;</TD>
  <TD STYLE="width: 10%">Per: </TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 38%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Title:</TD>
  <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>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Per: </TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Per: </TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Title: </TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title: </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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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: 0pt 0; text-align: justify; text-indent: 0.5in">&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; 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">The Canadian Borrower,
the Canadian Agent, the U.S. Agent, the European Agent and the Australian Agent, as the case may be, the Canadian Swingline Lenders,
the U.S. Swingline Lender and the Issuing Banks hereby acknowledge and confirm that <B>[Transferee]</B> ____________ is an
acceptable Transferee in accordance with the applicable provisions of the Credit Agreement and (ii) that the Canadian Borrower and
the Canadian Agent, U.S. Agent, European Agent and Australian Agent, as the case may be, the Canadian Swingline Lenders, the U.S.
Swingline Lender and the Issuing Banks have received an executed copy of this Transfer 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">DATED this ____ day of ________________,
____.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GROUP INC.</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, as Administration Agent and Canadian Administration Agent</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration Agent</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, LONDON BRANCH, as European Agent</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>HSBC BANK AUSTRALIA LIMITED, as Australian Agent</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</TD></TR>
</TABLE>

<P STYLE="margin: 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: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, as a Canadian Swingline Lender</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE TORONTO-DOMINION BANK, as a Canadian Swingline Lender</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>JPMORGAN CHASE BANK, N.A., as U.S. Swingline Lender</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>HSBC BANK AUSTRALIA LIMITED, as Australian Swingline Lender</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE TORONTO-DOMINION BANK, as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>THE TORONTO-DOMINION BANK, NEW YORK BRANCH, as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>JPMORGAN CHASE BANK, N.A., as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF MONTREAL, CHICAGO BRANCH, as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>BANK OF AMERICA, N.A., as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>HSBC BANK AUSTRALIA LIMITED, as an Issuing Bank</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

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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: 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">SCHEDULE &#8220;D&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM OF CONVERSION
NOTICE</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: justify">TO:</TD>
    <TD STYLE="width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BANK OF MONTREAL, as Administration Agent and
    Canadian Administration Agent, BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration Agent or BANK OF MONTREAL, LONDON BRANCH, as European
    Administration Agent, BMO CAPITAL MARKETS, as Sustainability Structuring Agent or HSBC BANK AUSTRALIA LIMITED, as Australian Agent</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">c/o</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Bank of Montreal,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">as Administration Agent<BR>
    250 Yonge Street, 11th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5B 2L7</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attention: Manager, Agency Services</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Fax: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">FROM:</TD>
    <TD STYLE="text-align: justify">COLLIERS INTERNATIONAL GROUP INC., COLLIERS MACAULAY NICOLLS INC., COLLIERS INTERNATIONAL HOLDINGS (USA), INC., GLOBESTAR LIMITED, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A. or COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">DATE:</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings">l</FONT></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">1</TD><TD STYLE="text-align: justify">This Conversion Notice is delivered to you pursuant to Sections 2.2 and 2.3 of the Third Amended and Restated
Credit Agreement (as in effect on the date hereof, the &#8220;Credit Agreement&#8221;) dated as of May 27, 2022. All capitalized terms
used in this Conversion Notice shall have the respective meanings set forth in the Credit Agreement.</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">2</TD><TD STYLE="text-align: justify">We hereby request a Conversion as follows:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin: 0pt 0 0pt 0.5in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: justify">(a)</TD>
    <TD STYLE="width: 45%; text-align: justify; text-indent: 0in">Date of Conversion:</TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(b)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Type of Advance to be converted from:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 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: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin: 0pt 0 0pt 0.5in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 12%">(c)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in; width: 45%">Amount of Advance (or portion thereof) to be converted:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in; width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(d)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Type of Advance to be converted into:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(e)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Interest Period of Advance (or portion thereof) to be Converted into (if applicable):</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</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">3</TD><TD STYLE="text-align: justify">The representations and warranties set forth in the Credit Agreement were true and accurate in all material
respects when made and continue to be true and accurate in all material respects on the date hereof.</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">No event has occurred and is continuing which constitutes an Event of Default or which would constitute
an Event of Default with the giving of notice and/or the lapse of time or both.</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>
    <TD STYLE="vertical-align: bottom; width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 50%; text-align: justify; font-weight: bold">Yours very truly,</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 189.35pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GROUP INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS MACAULAY NICOLLS INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC., as U.S. Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>GLOBESTAR LIMITED, a company incorporated in England and Wales with registration number 05159841, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, a company incorporated in England and Wales with registration number 10053084, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., as Dutch Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, </B></FONT><B>as Australian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="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">SCHEDULE &#8220;E&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>FORM OF DRAWDOWN
NOTICE</U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; text-align: justify">TO:</TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BANK OF MONTREAL, as Administration Agent and
    Canadian Administration Agent, BMO CAPITAL MARKETS, as Sustainability Structuring Agent, BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Administration
    Agent or BANK OF MONTREAL, LONDON BRANCH, as European Administration Agent or HSBC BANK AUSTRALIA LIMITED, as Australian Agent</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: left">c/o</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Bank of Montreal,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">as Administration Agent<BR>
    250 Yonge Street, 11th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Toronto, Ontario M5B 2L7</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attention: Manager, Agency Services</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Fax: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: [REDACTED]</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">or c/o (in the case of a Drawdown under the Australian
    Facility only)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">HSBC Bank Australia<BR>
    Level 36, Tower 1, International Towers Sydney<BR>
    100 Barangaroo Avenue, Sydney NSW 2000 Australia<BR>
    Attn: Niranga Nanayakkara<BR>
    Telecopier No.: [REDACTED]<BR>
    Email:&#9;[REDACTED]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">FROM:</TD>
    <TD STYLE="text-align: justify">COLLIERS INTERNATIONAL GROUP INC., COLLIERS MACAULAY NICOLLS INC., COLLIERS INTERNATIONAL HOLDINGS (USA), INC., GLOBESTAR LIMITED, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A. or COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">DATE:</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings">l</FONT></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">1</TD><TD STYLE="text-align: justify">This Drawdown Notice is delivered to you pursuant to Section 2.4 of the Third Amended and Restated Credit
Agreement (as in effect on the date hereof, the &#8220;Credit Agreement&#8221;) dated as of May 27, 2022. All capitalized terms used in
this Drawdown Notice shall have the respective meanings set forth in the Credit Agreement.</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">The undersigned hereby request<B>[s]</B> the following Drawdown on <FONT STYLE="font-family: Wingdings">l</FONT>,
202<FONT STYLE="font-family: Wingdings">l</FONT>:</TD></TR></TABLE>
<!-- Field: Page; Sequence: 247 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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 -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin: 0pt 0 0pt 0.5in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%; padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Bankers&#8217; Acceptances:</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Canadian Prime Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">U.S. Base Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">U.S. Prime Rate Loan:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Australian Base Rate Loan</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">SOFR Loan based on Adjusted Term SOFR:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">SOFR Loan based
    on Adjusted Daily Simple SOFR:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><I>N/A re Australian
    Borrower</I></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">SONIA Loan</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in; text-align: justify">Australian Bank Bill Rate Loan</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; 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">The undersigned hereby requests that the funds subject to the Drawdown<B>[s]</B> hereunder be deposited
in the following account<B>[s] </B>and each account set forth below identifies the Loans to be deposited therein: <FONT STYLE="font-family: Wingdings">l</FONT></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">4</TD><TD STYLE="text-align: justify">The representations and warranties set forth in the Credit Agreement were true and accurate in all material
respects when made and continue to be true and accurate in all material respects on the date hereof.</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">5</TD><TD STYLE="text-align: justify">No event has occurred and is continuing which constitutes an Event of Default or which would constitute
an Event of Default with the giving of notice and/or the lapse of time or both.</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>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 50%; text-align: justify; font-weight: bold">Yours very truly,</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL GROUP INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS MACAULAY NICOLLS INC., as a Canadian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC., as U.S. Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>GLOBESTAR LIMITED, a company incorporated in England and Wales with registration number 05159841, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, a company incorporated in England and Wales with registration number 10053084, as a UK Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., as Dutch Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, </B></FONT><B>as Australian Borrower</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 249 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="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">SCHEDULE &#8220;F&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>DETAILS OF ISSUE</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-weight: bold">TO:</TD><TD STYLE="width: 1%; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 89%; font-weight: bold; text-align: left">COLLIERS INTERNATIONAL GROUP INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">FROM:</TD><TD STYLE="font-family: Wingdings; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Wingdings; font-weight: bold">l</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Wingdings; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Wingdings; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">DATE:</TD><TD STYLE="font-family: Wingdings; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Wingdings; font-weight: bold">l</TD></TR>
  </TABLE>
<P STYLE="font: bold 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">1</TD><TD STYLE="text-align: justify">Principal Amount of Bankers&#8217; Acceptances Issued and Maturity Date:</TD></TR></TABLE>
<P STYLE="font: bold 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">2</TD><TD STYLE="text-align: justify">Reference Bankers&#8217; Acceptance Discount Rate:</TD></TR></TABLE>
<P STYLE="font: bold 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">Amount of the Stamping Fee:</TD></TR></TABLE>
<P STYLE="font: bold 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">Net Proceeds:</TD></TR></TABLE>
<P STYLE="font: bold 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">Amount of Available Proceeds:</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">DATED at Toronto this __
day of ___________________, ____.</P>
<P STYLE="font: bold 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>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Wingdings">l</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;G&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM OF COMPLIANCE
CERTIFICATE</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-weight: bold">TO:</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 89%; font-weight: bold; text-align: left">BANK OF MONTREAL, as Canadian Agent</TD></TR>
  </TABLE>


<P STYLE="font: bold 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; text-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 Third
Amended and Restated Credit Agreement dated as of May 27<B>, </B>2022, by and among, amongst others, Colliers International Group Inc.
(the &#8220;Canadian Borrower&#8221;), Colliers Macaulay Nicolls Inc. (&#8220;CMN&#8221;), Colliers International Holdings (USA), Inc.
(the &#8220;U.S. Borrower&#8221;), Globestar Limited (the &#8220;UK Borrower&#8221;), Colliers International EMEA Holdings Limited (&#8220;Colliers
EMEA&#8221;), Co&ouml;peratie CMN Netherlands Holdco U.A. (the &#8220;Dutch Borrower&#8221;) and Colliers International Holdings (Australia)
Limited (the &#8220;Australian Borrower&#8221; and together with the Canadian Borrower, CMN, the U.S. Borrower, the UK Borrower, Colliers
EMEA and the Dutch Borrower, the &#8220;Borrowers&#8221;), the Subsidiaries named on the execution pages thereto as Guarantors, the banks
named on the execution pages thereof as lenders (the&nbsp;&#8220;Lenders&#8221;), BMO Capital Markets, as Co-Lead Arranger, Sole Bookrunner
and Sustainability Structuring Agent, Bank of Montreal, Administration Agent and Canadian Administration Agent (the &#8220;Agent&#8221;),
Bank of Montreal, Chicago Branch, as U.S. Administration Agent, Bank of Montreal, London Branch, as European Administration Agent and
HSBC Bank Australia Limited, as Australian Agent (as in effect on the date hereof, the &#8220;Credit Agreement&#8221;). All capitalized
terms used herein and not otherwise defined shall have the same meaning ascribed thereto in 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">I, the undersigned, <FONT STYLE="font-family: Wingdings">l</FONT>,
in my capacity as [<B>Chief Financial Officer or Treasurer</B>] of the Canadian Borrower and not personally, after making due enquiry,
hereby certify to the Agents and each of the Lenders that the following, to the best of my knowledge, is true and 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>

<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 representations and warranties set forth in Section 8.1 of the Credit Agreement were true and accurate
in all material respects when made and continue to be true and accurate in all material respects on the date hereof.</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">The Borrowers and the Guarantors are each in compliance with all of the covenants and other terms and
conditions under the Credit Agreement.</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">Pursuant to Section 8.2(h)[<B>(i) or (ii)</B>]
                                            of the Credit Agreement, enclosed are the following financial statements of the Canadian
                                            Borrower for the period ending ________, 20__ (the &#8220;Reporting Period&#8221;):</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 0pt 0.5in; text-align: justify"><B>[Unaudited consolidated financial
statements for the Quarter of Canadian Borrower ended _______, 20__ and the unaudited financial statements of the Canadian Borrower for
the same Quarter prepared on a basis that excludes Unrestricted Entities from the consolidation.]</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>[Audited consolidated financial statements
for the Fiscal Year of the Canadian Borrower ended _________, 20__ and the unaudited financial statements of the Canadian Borrower for the same Fiscal
Year prepared on a basis that excludes Unrestricted Entities from the consolidation.]</B></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">These statements are all in reasonable detail,
fairly presenting the financial position and results of operation of the Canadian Borrower as at the date thereof and for such periods,
and have been prepared in accordance with GAAP as of _______________, <B>[subject to audit and year end adjustments and to be included
for delivery of Quarterly statements only] </B>applied consistently, subject to such adjustments as may be required to exclude Unrestricted
Entities from the consolidation. I hereby certify that these statements are accurate and correct in all material respects.</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">All changes to the financial statements affected
by changes in GAAP since ___________________ (or the application thereof by the Canadian Borrower) are reflected on the attached Schedule
&#8220;I&#8221; reconciling all line items affected by such changes in GAAP, with reasonable explanation as to the affects of GAAP on
each line item.</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">4</TD><TD STYLE="text-align: justify">The following are the financial calculations necessary to determine the Canadian Borrower&#8217;s compliance
with the financial covenants contained in Section 8.4 of the Credit Agreement which are required to be reported as of _________, 20__:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="width: 12%; text-align: justify">(a)</TD>
    <TD ROWSPAN="2" STYLE="width: 27%; text-align: left; text-indent: 0in">Total Debt/Consolidated EBITDA Ratio</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Compliance Yes/No</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="text-align: justify">(b)</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; text-indent: 0in">Interest Coverage Ratio</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Compliance Yes/No</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">Attached hereto as Schedule &#8220;II&#8221; are
the details of Normalizing Adjustments to Consolidated EBITDA made in calculating the Total Debt/Consolidated EBITDA Ratio for the Reporting
Period.</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">5</TD><TD STYLE="text-align: justify">No Default or Event of Default occurred and is continuing <B>[or: Attached hereto as Schedule &#8220;III&#8221;
are the particulars of a Default or Event of Default which has occurred and is continuing]</B>.</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">6</TD><TD STYLE="text-align: justify">Attached hereto as Schedule &#8220;IV&#8221; is a report on Dispositions made during the Reporting Period
in excess of an aggregate of U.S.$25,000,000.</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">7</TD><TD STYLE="text-align: justify">Attached hereto as Schedule &#8220;V&#8221; is a report on outstanding Hedging Agreements entered into
or guaranteed by the Canadian Borrower and its Subsidiaries and the amounts secured under Hedging Agreements.</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">8</TD><TD STYLE="text-align: justify">Attached hereto as Schedule &#8220;VI&#8221; is a report on the aggregate initial investment value of
all Unrestricted Entities which continue to qualify as Unrestricted Entities as at the end of the Reporting Period.</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">9</TD><TD STYLE="text-align: justify">Attached hereto as Schedule &#8220;VII&#8221; is a report setting forth the EBITDA for each Borrower and
each of its Subsidiaries, on an individual basis, for the previous Fiscal Year.</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">10</TD><TD STYLE="text-align: justify">Based on the Pricing Ratio, for the Reporting Period the Applicable Margins are:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-align: justify; text-indent: 0in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin: 0pt 0 0pt 0.5in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; text-align: left">Canadian Prime Rate Margin</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 56%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">%</TD></TR>
</TABLE>

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

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin: 0pt 0 0pt 0.5in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 36%">U.S. Base Rate Margin</TD>
    <TD STYLE="text-align: justify; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 56%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">U.S. Prime Rate Margin</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Australian Base Rate Margin</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Acceptance Fee</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">SOFR Margin or SONIA Margin, as applicable</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Australian Bank Bill Rate Margin</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Letter of Credit Fee</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Commitment Fees</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>CERTIFIED </B>at Toronto,
this __
day of ___________________, ____.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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 STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>[name of officer]</B></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;I&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Changes in GAAP Applied to the Enclosed Financial
Statements</P>

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

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

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

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

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

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;II&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Normalizing Adjustments to Consolidated EBITDA</P>

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

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

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

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

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;III&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Defaults or Events of Default</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[to be completed if any Default or Event of
Default has occurred or is continuing]</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>

<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>

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

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

<!-- Field: Page; Sequence: 256 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;IV&#8221;</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[to be completed if there have been Dispositions
made during the Reporting Period in excess of an aggregate of U.S. $25,000,000]</P>

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

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

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

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

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;V&#8221;</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[to be completed to report on outstanding
Hedging Agreements entered into and the amounts secured under the Hedging Agreements]</P>

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

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

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

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

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;VI&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Aggregate investment value of all Unrestricted
Entities</P>

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

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

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

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

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

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

<!-- Field: Page; Sequence: 259 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &#8220;VII&#8221;</P>

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

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

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

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

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

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

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

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;H-1&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CANADIAN COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Facilities</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 38%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Swingline A Commitment</FONT></TD>
    <TD STYLE="vertical-align: top; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Swingline B Commitment</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Revolving Facility Commitment</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Canadian Commitment</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bank National Association</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Toronto-Dominion Bank</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of Montreal</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMorgan Chase Bank, N.A., Toronto Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mizuho Bank, Ltd</FONT><FONT STYLE="font-size: 10pt">.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC Bank Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bank of Nova Scotia</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of America, N.A., Canada Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Imperial Bank of Commerce</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Bank of Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Bank, N.A., Canadian Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$20,000,000.00</U></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$15,000,000.00</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$640,000,000</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$675,000,000</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="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">SCHEDULE &#8220;H-2&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">U.S. COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Facilities</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Swingline Commitment</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sweep to Loan Commitment</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Revolving Facility Commitment</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total U.S. Commitment</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bank National Association</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Toronto&#45;Dominion Bank, New York Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of Montreal, Chicago Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMorgan Chase Bank, N.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mizuho Bank, Ltd</FONT><FONT STYLE="font-size: 10pt">.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC Bank Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bank of Nova Scotia</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of America, N.A., Canada Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Imperial Bank of Commerce</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Bank of Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Bank, N.A., Canadian Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$20,000,000.00</U></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$15,000,000.00</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$365,000,000</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$400,000,000</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 262 -->
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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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;H-3&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">UK COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 71%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="width: 29%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UK Revolving Facility Commitment</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Toronto-Dominion Bank, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of Montreal, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMorgan Chase Bank, N.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mizuho Bank, Ltd</FONT><FONT STYLE="font-size: 10pt">.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bank of Nova Scotia</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC UK Bank PLC and/or HSBC Bank Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of America N.A., Canada Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Bank of Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Bank, N.A., Canadian Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Imperial Bank of Commerce, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bank National Association</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$175,000,000</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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="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">SCHEDULE &#8220;H-4&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Colliers EMEA COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 71%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="width: 29%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colliers EMEA Revolving Facility Commitment</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Toronto-Dominion Bank, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of Montreal, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMorgan Chase Bank, N.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mizuho Bank, Ltd</FONT><FONT STYLE="font-size: 10pt">.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bank of Nova Scotia</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC UK Bank PLC and/or HSBC Bank Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of America N.A., Canada Branch </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Bank of Canada</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Bank, N.A., Canadian Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Imperial Bank of Commerce, London Branch</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bank National Association</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$200,000,000</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;H-5&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">AUSTRALIAN COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Australian Facilities</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Australian Swingline Commitment</FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Australian Revolving Facility Commitment</FONT></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Australian Commitment</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC Bank Australia Limited</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED] </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$0</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$50,000,000.00</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$50,000,000.00</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 265 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="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">SCHEDULE &#8220;H-6&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">TOTAL COMMITMENTS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All Facilities</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 58%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lenders</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Commitments<BR>
All Facilities</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Toronto-Dominion Bank, The Toronto&#45;Dominion, New York Branch and The Toronto-Dominion Bank, London Branch</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of Montreal, Bank of Montreal, Chicago Branch and Bank of Montreal, London Branch</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HSBC Bank Canada, HSBC Bank PLC and HSBC Bank Australia Limited</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMorgan Chase Bank, N.A., Toronto Branch and JPMorgan Chase Bank, N.A. </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mizuho Bank, Ltd</FONT><FONT STYLE="font-size: 10pt">.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bank National Association</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Bank of Nova Scotia</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank of America, N.A., Canada Branch </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canadian Imperial Bank of Commerce and Canadian Imperial Bank of Commerce, London Branch </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Bank of Canada </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ [REDACTED]</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Bank, N.A., Canadian Branch </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$[REDACTED]</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>$1,500,000,000</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 266 -->
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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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;I&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM OF OFFICER&#8217;S
CERTIFICATE RE: ACQUISITION FACILITY</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; text-align: justify; font-weight: bold">TO:</TD>
    <TD STYLE="width: 87%; text-align: justify; font-weight: bold">BANK OF MONTREAL, as Canadian Agent and Sustainability Structuring Agent</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">AND TO:</TD>
    <TD STYLE="text-align: justify; font-weight: bold">BANK OF MONTREAL, CHICAGO BRANCH, as U.S. Agent</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">AND TO:</TD>
    <TD STYLE="text-align: justify; font-weight: bold">BANK OF MONTREAL, LONDON BRANCH, as European Agent</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-weight: bold">AND TO:</TD>
    <TD STYLE="text-align: justify; font-weight: bold">HSBC BANK AUSTRALIA LIMITED, as Australian Agent</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">Reference is made to the Third
Amended and Restated Credit Agreement dated as of May 27, 2022, by and among, amongst others, Colliers International Group Inc. (the &#8220;<B>Canadian
Borrower</B>&#8221;), Colliers Macaulay Nicolls Inc. (&#8220;<B>CMN</B>&#8221;), Colliers International Holdings (USA), Inc. (the &#8220;<B>U.S.
Borrower</B>&#8221;), Globestar Limited (the &#8220;<B>UK Borrower</B>&#8221;), Colliers International EMEA Holdings Limited (&#8220;<B>Colliers
EMEA</B>&#8221;), Co&ouml;peratie CMN Netherlands Holdco U.A. (the &#8220;<B>Dutch Borrower</B>&#8221;) and Colliers International Holdings
(Australia) Limited (the &#8220;<B>Australian Borrower</B>&#8221; and together with the Canadian Borrower, CMN, the U.S. Borrower, the
UK Borrower, Colliers EMEA and the Dutch Borrower, the &#8220;<B>Borrowers</B>&#8221;), the Subsidiaries named on the execution pages
thereto as Guarantors, the banks named on the execution pages thereof as lenders (the&nbsp;&#8220;<B>Lenders</B>&#8221;), BMO Capital
Markets, as Co-Lead Arranger, Sole Bookrunner and Sustainability Structuring Agent, Bank of Montreal, as Administration Agent and Canadian
Administration Agent (the &#8220;<B>Agent</B>&#8221;), Bank of Montreal, Chicago Branch, as U.S. Administration Agent, Bank of Montreal,
London Branch, as European Administration Agent and HSBC Bank Australia Limited, as Australian Agent (as in effect on the date hereof,
the &#8220;<B>Credit Agreement</B>&#8221;). All capitalized terms used herein and not otherwise defined shall have the same meaning ascribed
thereto in 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">I, the undersigned, <FONT STYLE="font-family: Wingdings">l</FONT>,
in my capacity as <B>[Chief Financial Officer]</B> of the Canadian Borrower and <B>[<FONT STYLE="font-family: Wingdings">l</FONT> the
Chief Financial Officer of the U.S. Borrower]</B>, <B>[<FONT STYLE="font-family: Wingdings">l</FONT> the Chief Financial Officer of </B><FONT STYLE="font-family: Wingdings">l</FONT>,
<B>the UK Borrower]</B>, <B>[<FONT STYLE="font-family: Wingdings">l</FONT> the Chief Financial Officer of Colliers EMEA], [<FONT STYLE="font-family: Wingdings">l</FONT>
the Chief Financial Officer of the Australian Borrower], [<FONT STYLE="font-family: Wingdings">l</FONT> the Chief Financial Officer of
the Dutch Borrower]</B> and not personally, after making due enquiry, hereby certify to the Agents and each of the Lenders that the following,
to the best of my knowledge, is true and 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>

<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">11</TD><TD STYLE="text-align: justify">The proposed Borrowing on <B>[date]</B> shall be used by the undersigned in financing an acquisition of
<FONT STYLE="font-family: Wingdings">l</FONT> which is an Eligible Business (&#8220;<B>Eligible Business</B>&#8221;).</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">12</TD><TD STYLE="text-align: justify">As the result of the completion of the acquisition of such business, the projected EBITDA derived specifically
through the transaction of business by such acquired business in Singapore, in countries which are members of the OECD and/or are member
countries of the European Union coupled with the EBITDA derived specifically through the transaction of business by the Canadian Borrower
and its Subsidiaries (other than Unrestricted Entities) in Singapore, in countries which are members of the OECD and/or member countries
of the European Union, is not less than 85% of Consolidated EBITDA.</TD></TR></TABLE>
<!-- Field: Page; Sequence: 267 -->
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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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<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">13</TD><TD STYLE="text-align: justify">It is the opinion of the Canadian Borrower or, where the Canadian Borrower has identified the existence
of potentially Hazardous Materials, a third party environmental consultant engaged by the Canadian Borrower of experience and reputation
reasonably satisfactory to such Agent that such Eligible Business has been and can continue to be conducted in compliance with any applicable
Environmental Laws and that no material adverse change in the earnings of the applicable Acquisition Entity or the Canadian Borrower shall
result therefrom.</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">14</TD><TD STYLE="text-align: justify">That no Event of Default or event which with notice or the passage of time or both will become an Event
of Default or will occur as a consequence of such acquisition.</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">15</TD><TD STYLE="text-align: justify"><B>[That the Borrowers have received the consent of the Majority Lenders to the proposed acquisition.][Note
&#8211; required if Total Debt to Consolidated EBITDA is at 3.25;1 or higher, determined on a pro forma basis after giving effect to the
proposed acquisition.] [That the Total Debt to Consolidated EBITDA is less than 3.25:1, determined on a pro forma basis after giving effect
to the proposed acquisition.]</B></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">16</TD><TD STYLE="text-align: justify">That we have caused <B>[or will cause within thirty (30) days of the completion of the acquisition, or
such longer period as the Agent may consent to,]</B> the Acquisition Entity to execute and deliver, in favour of the Administration Agent,
to the extent such Acquisition Entity meets the criteria set forth in the definition of Guarantor, the Continuing Guarantee.</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 undersigned agrees that
the proposed Borrowing is conditional upon the Administration Agent having received confirmation that all conditions set out in Section
8.2 of the Credit Agreement have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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>CERTIFIED</B> at Toronto,
this _____ day of _______________, ______.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; 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="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>colliers international group inc.<BR>
<BR>
</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC.<BR>
<BR>
</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 268 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[<FONT STYLE="font-family: Wingdings">l</FONT>]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: <B>[Chief Financial Officer]</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 269 -->
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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"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;J&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PERMITTED ENCUMBRANCES</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">[REDACTED]</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"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE: </B></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">Colliers International Mortgage Corporation, predecessor
to Colliers Macaulay Nicolls Inc. (the &#8220;<B>Subsidiary</B>&#8221;), is a party to six mortgage loan purchase agreements (each an
&#8220;<B>MLPA</B>&#8221; and collectively the &#8220;<B>MLPAs</B>&#8221;) dating from 2006 and 2007 in respect of commercial mortgage
backed securitization transactions as described in numbers 1 through 6 of the above chart (each, a &#8220;<B>Securitization Transaction</B>&#8221;).</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">Each MLPA contains a repurchase obligation, which
is standard and customary for transactions of this nature, on the part of the Subsidiary in the event of a Document Defect or Breach (each
are defined terms in the applicable Pooling and Servicing Agreement in respect of each Securitization Transaction) relating to a mortgage
loan that materially and adversely affects the interests of the Certificateholders (as defined in the applicable Pooling and Servicing
Agreement) therein or the value of the affected mortgage loan. There are cure rights of the Subsidiary in the event of a Document Defect
or Breach subject to the payment of costs related thereto. The provisions relating to such cure rights and repurchase obligations of the
Subsidiary are more specifically outlined in the applicable Pooling and Servicing Agreement. The repurchase obligation may extend to all
of the related cross-collateralized mortgage loans.</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">Neither the Borrowers nor the Subsidiary has received
any notice in respect of any Securitization Transaction of an event that would constitute a Breach or a Document Defect as described above.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;K&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM OF [u.s.]
[uk] [Colliers EMEA] [AUSTRALIAN] PROMISSORY NOTE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">, 20__</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S.$<FONT STYLE="font-family: Wingdings">l</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>FOR VALUE RECEIVED [Colliers
International Holdings (USA), Inc.] [Globestar Limited] [Colliers International EMEA Holdings Limited] [Co&ouml;peratie CMN Netherlands
Holdco U.A.] [Colliers International Holdings (Australia) Limited </B>(the &#8220;<B>Borrower</B>&#8221;) hereby promises to pay to the
order of <FONT STYLE="font-family: Wingdings">l</FONT> <B>[name of Lender] </B>(the &#8220;<B>Lender</B>&#8221;) at <FONT STYLE="font-family: Wingdings">l</FONT>
or such other address or to such account as the Lender may direct, in accordance with the terms of the Third Amended and Restated Credit
Agreement dated as of May 27, 2022 by and among, amongst others, Colliers International Group Inc. (the &#8220;<B>Canadian Borrower</B>&#8221;),
Colliers Macaulay Nicolls Inc., (&#8220;<B>CMN</B>&#8221;), Colliers International Holdings (USA), Inc. (the &#8220;<B>U.S. Borrower</B>&#8221;),
Globestar Limited (the &#8220;<B>UK Borrower</B>&#8221;), Colliers International EMEA Holdings Limited (&#8220;<B>Colliers EMEA</B>&#8221;),
Co&ouml;peratie CMN Netherlands Holdco U.A. (the &#8220;<B>Dutch Borrower</B>&#8221;) and Colliers International Holdings (Australia)
Limited (the &#8220;<B>Australian Borrower</B>&#8221; and together with the Canadian Borrower, CMN, the U.S. Borrower, the UK Borrower,
Colliers EMEA and the Dutch Borrower, the &#8220;<B>Borrowers</B>&#8221;), the Subsidiaries named on the execution pages thereto as Guarantors,
the banks named on the execution pages thereof as lenders (the&nbsp;&#8220;<B>Lenders</B>&#8221;), BMO Capital Markets, as Co-Lead Arranger,
Sole Bookrunner and Sustainability Structuring Agent, Bank of Montreal, as Administration Agent and Canadian Administration Agent (the
&#8220;<B>Agent</B>&#8221;), Bank of Montreal, Chicago Branch, as U.S. Administration Agent, Bank of Montreal, London Branch, as European
Administration Agent and HSBC Bank Australia Limited, as Australian Agent, as same may be amended, supplemented, revised, restated or
replaced from time to time, (the &#8220;<B>Credit Agreement</B>&#8221;), the lesser of (a) <B>[U.S.$<FONT STYLE="font-family: Wingdings">l</FONT>
Lender&#8217;s Commitment]</B> or (b) the outstanding amount of Borrowings from time to time made by such Lender to Borrower under the
<B>[U.S. Facilities] [UK Revolving Facility] [Colliers EMEA Revolving Facility] [Australian Revolving Facility]</B>, such amount as determined
by the Lender&#8217;s Participation, in any case with interest thereon calculated and payable as set out in the Credit Agreement, until
the occurrence of an Event of Default when the entire principal amount together with accrued but unpaid interest shall become due and
payable in accordance with the terms of 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">On the Final Maturity Date
any amounts then remaining unpaid, including principal and interest, shall be immediately paid by the Borrower to the Lender without the
presentment, notice, demand or observance of any other formality whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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 Promissory Note is the
promissory note referred to in, and issued pursuant to the Credit Agreement and is subject to and governed by the terms and conditions
thereof. Capitalized terms used but not defined herein shall have the meaning set forth in the Credit Agreement. Reference is made to
the Credit Agreement for provisions regarding mandatory and optional payments and prepayments hereof, acceleration of the maturity hereof
by the Lender upon the happening of certain stated events, and rates of interest after default.</P>

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

<!-- Field: Page; Sequence: 271 -->
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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">This Promissory Note is evidence
of the indebtedness of the Borrower under the Credit Agreement, and is secured by the agreements and instruments referred to in the Credit
Agreement, all as more particularly described and provided therein, and is entitled to the benefits 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">The Borrower hereby waives
diligence, demand, presentment, protest and notice of any kind, and assents to extensions of the time of payment, release, surrender or
substitution of security, or forbearance or other indulgence, without notice. The Borrower agrees to pay all amounts of principal, interest,
and fees under this Promissory Note without offset, deduction, claim, counterclaim, defense or recoupment, all of which are hereby waived
by the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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 Promissory Note may not
be changed, modified or terminated orally, but only by an agreement in writing signed by the Borrower or any successor or assign of the
Borrower and the Lender or any holder 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">In the event the Lender or
any holder hereof shall retain or engage legal counsel to collect, enforce or protect its interests with respect to this Promissory Note,
the Borrower shall pay all of the reasonable costs and expenses of such collection, enforcement or protection, including reasonable legal
fees, whether or not suit is instituted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-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 Promissory Note shall
be governed by and construed in accordance with the laws of the <B>[State of Delaware]</B>, and shall be binding upon the successors and
assigns of the Borrower and inure to the benefit of the Lender and its successors, endorsees and assigns. If any term or provision of
this Promissory Note shall be held invalid, illegal or unenforceable, the validity of all other terms and provisions hereof shall in no
way be affected thereby.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[signature page follows]</P>

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<!-- Field: Page; Sequence: 272 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[COLLIERS INTERNATIONAL HOLDINGS (USA), INC., as U.S. Borrower]</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[GLOBESTAR LIMITED, a company incorporated in England and Wales with registration number 05159841, as a UK Borrower]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., as Dutch Borrower]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 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>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><B>[COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, a company incorporated in England and Wales with registration number 10053084, as a UK Borrower]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">I have the authority to bind the Company</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>[COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, </B></FONT><B>as Australian Borrower]</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&#9;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 273 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="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">SCHEDULE &#8220;L&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM OF SUSTAINABILITY CERTIFICATE</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-weight: bold">TO:</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 89%; font-weight: bold; text-align: left">Bank of Montreal, in its capacity as Administration Agent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">AND TO:</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">BMO Capital Markets, in its capacity as Sustainability Structuring Agent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">AND TO:</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">Each of the Lenders</TD></TR>
  </TABLE>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">Reference
is made to the Third Amended and Restated Credit Agreement dated as of May 27, 2022, by and among, amongst others, Colliers International
Group Inc. (the &#8220;</FONT>Canadian Borrower<FONT STYLE="font-weight: normal">&#8221;), Colliers Macaulay Nicolls Inc. (&#8220;</FONT>CMN<FONT STYLE="font-weight: normal">&#8221;),
Colliers International Holdings (USA), Inc. (the &#8220;</FONT>U.S. Borrower<FONT STYLE="font-weight: normal">&#8221;), Globestar Limited
(the &#8220;</FONT>UK Borrower<FONT STYLE="font-weight: normal">&#8221;), Colliers International EMEA Holdings Limited (&#8220;</FONT>Colliers
EMEA<FONT STYLE="font-weight: normal">&#8221;), Co&ouml;peratie CMN Netherlands Holdco U.A. (the &#8220;</FONT>Dutch Borrower<FONT STYLE="font-weight: normal">&#8221;)
and Colliers International Holdings (Australia) Limited (the &#8220;</FONT>Australian Borrower<FONT STYLE="font-weight: normal">&#8221;
and together with the Canadian Borrower, CMN, the U.S. Borrower, the UK Borrower, Colliers EMEA and the Dutch Borrower, the &#8220;</FONT>Borrowers<FONT STYLE="font-weight: normal">&#8221;),
the Subsidiaries named on the execution pages thereto as Guarantors, the banks named on the execution pages thereof as lenders (the &#8220;</FONT>Lenders<FONT STYLE="font-weight: normal">&#8221;),
BMO Capital Markets, as Co-Lead Arranger, Sole Bookrunner and Sustainability Structuring Agent, Bank of Montreal, as Administration Agent
and Canadian Administration Agent (the &#8220;</FONT>Agent<FONT STYLE="font-weight: normal">&#8221;), Bank of Montreal, Chicago Branch,
as U.S. Administration Agent, Bank of Montreal, London Branch, as European Administration Agent and HSBC Bank Australia Limited, as Australian
Agent (as in effect on the date hereof, the &#8220;</FONT>Credit Agreement<FONT STYLE="font-weight: normal">&#8221;). All capitalized
terms used herein and not otherwise defined shall have the same meaning ascribed thereto in the Credit Agreement. </FONT></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"><FONT STYLE="font-weight: normal">This Sustainability
Certificate is delivered pursuant to Section 8.2(h)(iv) of the Credit Agreement.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">The undersigned
</FONT>[name]<FONT STYLE="font-weight: normal">, </FONT>[title] <FONT STYLE="font-weight: normal">of the Canadian Borrower, hereby certifies
that, as of the date of this Sustainability Certificate, I have made or caused to be made such investigations as are necessary or appropriate
for the purposes of this Sustainability Certificate and:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">attached hereto as Exhibit A is a true and complete copy of the Sustainability
Report for the Canadian Borrower for the Financial Year ending December 31 </FONT>[year]<FONT STYLE="font-weight: normal">, and GHG Emission
Intensity, the Percentage of Women in Management Roles and Percentage of WELL Certified Properties disclosed therein have been verified
by the Sustainability Auditor on a limited assurance or specified procedures basis.</FONT></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: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">attached hereto as Exhibit B is a schedule setting forth each Adjustment
to the Applicable Margin and the Applicable Sustainability Margin Adjustment for the fiscal year ending December 31, </FONT>[year]<FONT STYLE="font-weight: normal">,
and the calculations applicable thereto.</FONT></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"><FONT STYLE="font-weight: normal">Dated this <FONT STYLE="font-family: Wingdings">l</FONT>
day of <FONT STYLE="font-family: Wingdings">l</FONT>, <FONT STYLE="font-family: Wingdings">l</FONT>.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="text-transform: uppercase"><B>colliers international group inc.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</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 STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Exhibit A to
Sustainability Certificate</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">See attached.</FONT></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>

<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>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><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="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: center"><FONT STYLE="font-weight: normal">Exhibit B to
Sustainability Certificate</FONT></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"><FONT STYLE="font-weight: normal">The most recent
GHG Emission Intensity, Percentage of Women in Management Roles and Percentage of WELL-Certified Properties for the most recently completed
Fiscal Year are as follows:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; border: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">GHG Emission Intensity</FONT></TD>
    <TD STYLE="width: 35%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[___]%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Percentage of Women in Management Roles</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[___]%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Percentage of WELL-Certified Properties</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[___]%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">and such certification
shall constitute, in the absence of manifest error, <I>prima facie</I> evidence of the foregoing.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">Based solely
on the foregoing the resulting Applicable Sustainability Margin Adjustment is as follows:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%; border: Black 1pt solid; text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 39%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Applicable Sustainability Margin Adjustment (% per annum) </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">GHG Emission Intensity (A)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[-/+][___]%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Percentage of Women in Management Roles (B)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[-/+][___]%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Percentage of WELL-Certified Properties (C)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[-/+][___]%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">Total / Applicable Sustainability Margin Adjustment (sum of A, B and C)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold"><FONT STYLE="font-weight: normal">[-/+][___]%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 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"><FONT STYLE="font-weight: normal">accordingly,
effective as of [__]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT> and until the next
Sustainability Margin Adjustment Date, the Applicable Margin shall be [__].</FONT></P>

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

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

<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: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>6
</SUP></FONT><FONT STYLE="font-size: 8pt">Three (3) Business Days immediately following date of this Sustainability Certificate.</FONT></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE &#8220;M&#8221; TO THE THIRD AMENDED
AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 27, 2022 BY AND AMONG, AMONGST OTHERS, COLLIERS INTERNATIONAL GROUP INC., AS A CANADIAN
BORROWER, COLLIERS MACAULAY NICOLLS INC., AS A CANADIAN BORROWER, COLLIERS INTERNATIONAL HOLDINGS (USA), INC., AS U.S. BORROWER, GLOBESTAR
LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED, AS A UK BORROWER, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA)
LIMITED, AS AUSTRALIAN BORROWER, CO&Ouml;PERATIE CMN NETHERLANDS HOLDCO U.A., AS DUTCH BORROWER, THE SUBSIDIARIES NAMED ON THE EXECUTION
PAGES THEREOF, AS GUARANTORS, THE BANKS NAMED ON THE EXECUTION PAGES THEREOF, AS LENDERS, BMO CAPITAL MARKETS, AS CO-LEAD ARRANGER, SOLE
BOOKRUNNER AND SUSTAINABILITY STRUCTURING AGENT, BANK OF MONTREAL, AS ADMINISTRATION AGENT AND CANADIAN ADMINISTRATION AGENT, BANK OF
MONTEAL, CHICAGO BRANCH, AS U.S. ADMINISTRATION AGENT, BANK OF MONTREAL, LONDON BRANCH, AS EUROPEAN ADMINISTRATION AGENT, AND HSBC BANK
AUSTRALIA LIMITED, AS AUSTRALIAN AGENT.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Baseline GHG Emission Intensity</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"><FONT STYLE="font-weight: normal">6.75 Kg CO2e/square
feet</FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Baseline Percentage of Women in Management
Roles</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"><FONT STYLE="font-weight: normal">36%</FONT></P>

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

<P STYLE="font: bold 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>

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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 129.1pt 0pt 128.95pt">COLLIERS INTERNATIONAL
GROUP INC. MATERIAL CHANGE REPORT</P>

<P STYLE="margin: 0pt 129.1pt 0pt 128.95pt; font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 129pt 0pt 128.95pt">(Form 51-102F3)</P>

<P STYLE="margin: 0pt 129pt 0pt 128.95pt; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.95pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">1.</FONT></TD><TD>Name and Address of Company</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 219.05pt 0pt 41.95pt">&nbsp;</P>

<P STYLE="margin: 0pt 219.05pt 0pt 41.95pt; font-size: 10pt">Colliers International Group Inc. (&quot;<B>Colliers</B>&quot;)</P>

<P STYLE="margin: 0pt 219.05pt 0pt 41.95pt; font-size: 10pt">1140 Bay
Street, Suite 4000</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 41.95pt">Toronto, Ontario M5S 2B4</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.9pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">2.</FONT></TD><TD>Date of Material Changes</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 41.95pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">May 27, 2022</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.9pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">3.</FONT></TD><TD>News Releases</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 41.95pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">A news release was disseminated on May 27, 2022 through GlobeNewswire.</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.9pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">4.</FONT></TD><TD>Summary of Material Changes</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 41.95pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">On May 27, 2022, Colliers announced the extension and increase of its unsecured
multi-currency revolving credit facility.</P>

<P STYLE="margin: 0pt 0 0pt 41.95pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.9pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">5.</FONT></TD><TD>Full Description of Material Changes</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 5.65pt 0pt 41.95pt">&nbsp;</P>

<P STYLE="margin: 0pt 5.65pt 0pt 41.95pt; font-size: 10pt; text-align: justify">The news release annexed hereto as Schedule &quot;A&quot;
provides a full description of the material change. A copy of the sustainability linked third amended and restated credit agreement entered
into in connection with the material change has been filed on SE<FONT STYLE="color: Black">DAR at www.sedar.com.</FONT></P>

<P STYLE="margin: 0pt 5.65pt 0pt 41.95pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.95pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">6.</FONT></TD><TD>Reliance on Subsection 7.1(2) of National Instrument 51-102</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 42pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 42pt; font-size: 10pt">This report is not being filed on a confidential basis.</P>

<P STYLE="margin: 0pt 0 0pt 42pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.95pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">7.</FONT></TD><TD>Omitted Information</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 42pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 42pt; font-size: 10pt">No significant facts remain confidential in, and no information has been omitted from,
this report.</P>

<P STYLE="margin: 0pt 0 0pt 42pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.95pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">8.</FONT></TD><TD>Executive Officer</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 5.8pt 0pt 42pt">&nbsp;</P>

<P STYLE="margin: 0pt 5.8pt 0pt 42pt; font-size: 10pt; text-align: justify">If further information is required, please contact Christian
Mayer, Chief Financial Officer, at (416) 960-9500.</P>

<P STYLE="margin: 0pt 5.8pt 0pt 42pt; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.95pt"></TD><TD STYLE="width: 36.05pt"><FONT STYLE="font-weight: normal">9.</FONT></TD><TD>Date of Report</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 42pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 42pt; font-size: 10pt">DATED at Toronto, Ontario this 3<SUP>rd</SUP> day of June, 2022.</P>

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

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

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

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

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

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

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><IMG SRC="logo992.jpg" ALT="" STYLE="height: 68px; width: 118px"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black"><U>COMPANY CONTACT:</U></FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">Christian Mayer</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">Chief Financial Officer</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">(416) 960-9500</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 24pt; margin: 0pt 0; color: #25408F"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font-size: 24pt; margin: 0pt 0; color: #25408F">Colliers extends and increases credit facility to US$1.5 billion</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #0C9ED9">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; color: #0C9ED9">Additional capacity provides greater flexibility for growth; sustainability
feature aligns with ESG goals</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black"><B>TORONTO</B>, Canada, May
27, 2022 &ndash; Colliers International Group Inc. (TSX and NASDAQ: CIGI) (&quot;Colliers&quot;) announced today that it has extended
and increased its unsecured multi-currency revolving credit facility (the &ldquo;Credit Facility&rdquo;) for a new five-year term maturing
in May 2027. The prior credit facility had a maturity of April 2024. Borrowing capacity under the new Credit Facility has been increased
to $1.5 billion, up from $1.0 billion. Financial covenants under the Credit Facility remain unchanged. The new Credit Facility is sustainability-linked
and includes pricing adjustments tied to the achievement of performance targets over time aligned with Colliers&rsquo; <I>Elevate the
Built Environment</I> framework. These targets include: 1) reducing greenhouse gas emissions consistent with the Science-Based Targets
initiative (&ldquo;SBTi&rdquo;); 2) increasing female representation in management roles and 3) ensuring Colliers-occupied offices obtain
the WELL Health-Safety certification.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">The new Credit Facility was
led by Bank of Montreal and was syndicated to ten additional banks including HSBC Bank, JP Morgan Chase Bank, Mizuho Bank, U.S. Bank,
Toronto-Dominion Bank, Bank of America, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Wells Fargo Bank and National Bank of
Canada. The Credit Facility ranks pari passu with Colliers&rsquo; existing privately placed fixed rate senior notes maturing in 2028
and 2031.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black; background-color: white">&ldquo;The
new Credit Facility provides us with additional capacity and greater flexibility as we continue to execute on our growth plan and will
be used to fund both existing operations and strategic acquisitions globally,&rdquo; said Christian Mayer, Chief Financial Officer. &ldquo;We
are pleased that all eleven members of our bank group have extended and increased their participation in our Credit Facility, signaling
their support and confidence in our proven track record and prospects for the future,&rdquo; he concluded.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; color: #4A4A4D">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; color: #4A4A4D">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; color: #4A4A4D"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; color: #4A4A4D">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black"><B>About Colliers</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black; background-color: white">Colliers
(NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries,
our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than
27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders.
With annual revenues of $4.3 billion and $57 billion of assets under management, Colliers maximizes the potential of property and real
assets to accelerate the success of our clients, our investors, and our people.&nbsp; </FONT><FONT STYLE="color: Black">Learn more at
corporate.colliers.com, Twitter @Colliers or LinkedIn.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black"><B>Forward-looking Statements</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">Certain information included
in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified
by words such as &ldquo;believe&rdquo;, &ldquo;expects&rdquo;, &ldquo;expected&rdquo;, &ldquo;will&rdquo;, &ldquo;intends&rdquo;, &ldquo;projects&rdquo;,
&ldquo;anticipates&rdquo;, &ldquo;estimates&rdquo;, &ldquo;continues&rdquo; or similar expressions suggesting future outcomes or events.
Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these
expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D"><FONT STYLE="color: Black">Forward-looking statements
are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results
or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general
economic and business conditions, which will, among other things, impact demand for Colliers&rsquo; services and the cost of providing
services; (ii) the ability of Colliers to implement its business strategy, including Colliers&rsquo; ability to identify and acquire
suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses;
(iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information
Form of Colliers for the year ended December 31, 2021 under the heading &ldquo;Risk Factors&rdquo; (which factors are adopted herein
and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date
hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except
as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: #4A4A4D">&nbsp;</P>

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

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

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

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

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

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
