<SEC-DOCUMENT>0001104659-21-136352.txt : 20211109
<SEC-HEADER>0001104659-21-136352.hdr.sgml : 20211109
<ACCEPTANCE-DATETIME>20211109170632
ACCESSION NUMBER:		0001104659-21-136352
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20211109
DATE AS OF CHANGE:		20211109
GROUP MEMBERS:		JONATHAN M. HELLER
GROUP MEMBERS:		JOSHUA S. FRIEDMAN
GROUP MEMBERS:		MITCHELL R. JULIS

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBL & ASSOCIATES PROPERTIES INC
		CENTRAL INDEX KEY:			0000910612
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				621545718
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43723
		FILM NUMBER:		211393151

	BUSINESS ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421
		BUSINESS PHONE:		4238550001

	MAIL ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CANYON CAPITAL ADVISORS LLC
		CENTRAL INDEX KEY:			0001074034
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS, 11TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3102721000

	MAIL ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS, 11TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>tm2132151d1_sc13d.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 0.25pt 5.65pt; vertical-align: top; width: 99%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITIES
    AND EXCHANGE COMMISSION</FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt 5.65pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington,
    D.C. 20549</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt 5.65pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE
    13D</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
    the Securities Exchange Act of 1934</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Amendment
    No.&nbsp;__)*</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">CBL&nbsp;&amp;
                                            Associates Properties,&nbsp;Inc.</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
    of Issuer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Common
                                            Stock, $0.001 par value per share</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Title
    of Class&nbsp;of Securities)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">124830878</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(CUSIP
                                            Number)</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Canyon
                                            Partners, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2728 North Harwood Street, 2nd Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dallas, Texas 75201</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(214) 253-6000</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Jonathan M. Kaplan</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><DIV STYLE="border-bottom: black 0.5pt solid; padding: 0in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">with
                                            a copy to:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Robert W. Downes</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Sullivan&nbsp;&amp; Cromwell LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">125 Broad Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, NY 10004</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(212) 558-4312</P>
</DIV></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
    Address and Telephone Number of Person</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized
    to Receive Notices and Communications)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt"><P STYLE="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">November&nbsp;1,
                                            2021</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0.25pt 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Date
    of Event Which Requires Filing of This Statement)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule&nbsp;13d-1(e), Rule&nbsp;13d-1(f)&nbsp;or Rule&nbsp;13d-1(g), check the following box. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* The remainder of this cover page&nbsp;shall be filled out for a
reporting person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page&nbsp;shall
not be deemed to be &#8220;filed&#8221; for the purpose of Section&nbsp;18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).<BR STYLE="clear: both">&nbsp;</P>

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

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

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

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    <!-- Field: /Page -->

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">NAME
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Canyon Capital Advisors LLC</P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; width: 74%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 10pt; padding-top: 8; width: 11%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
    USE ONLY</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOURCE
                                            OF FUNDS</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">AF</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d)&nbsp;or 2(e)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CITIZENSHIP
                                            OR PLACE OF ORGANIZATION</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Delaware</P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON WITH:</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; vertical-align: top; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; vertical-align: top; width: 70%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10</B></FONT></TD>
    <TD STYLE="border: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">AGGREGATE
                                            AMOUNT BENEFICIALLY OWNED BY EACH PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">PERCENT
                                            OF CLASS&nbsp;REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">33.0%*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">TYPE
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">IA</FONT></P></TD></TR>
  </TABLE>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
(i)&nbsp;4,396,411 shares of common stock, $0.001 par value per share (the &#8220;<U>Common Stock</U>&#8221;), of CBL&nbsp;&amp; Associates
Properties,&nbsp;Inc. (the &#8220;<U>Issuer</U>&#8221;) beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of
Common Stock that may be issuable upon exchange of the Exchangeable Notes (as defined in Item 3 of this Schedule 13D). Exchangeable Notes
may be exchanged at any time prior to maturity. At its election, the New Notes Issuer (as defined in Item 3 of this Schedule 13D) may
consummate the exchange in cash, Common Stock or a combination thereof. Under the rules&nbsp;issued by the Securities and Exchange Commission
regarding beneficial ownership of securities, beneficial ownership of Common Stock includes (i)&nbsp;any shares as to which the individual
or entity has sole or shared voting power or investment power and (ii)&nbsp;any shares which could be purchased by the exercise of options
at or within 60 days. The Reporting Persons have included in this Schedule 13D the shares of Common Stock that may be issuable upon exchange
of the Exchangeable Notes, even though ownership of such Exchangeable Notes does not constitute beneficial ownership of Common Stock
under Rule&nbsp;13d-3 under the Securities Exchange Act of 1934 because the Reporting Persons do not have the right to require the Issuer
(which may consummate the exchange in cash, Common Stock or a combination thereof) to exchange the Exchangeable Notes for shares of Common
Stock. The Reporting Persons disclaim beneficial ownership of the shares of Common Stock that may be issuable upon exchange of the Exchangeable
Notes. If the shares of Common Stock that may be issuable upon exchange of the Exchangeable Notes were not included in this Schedule
13D, the Reporting Persons&#8217; beneficial ownership of Common Stock would represent 22.0% of the total number of shares of Common
Stock outstanding.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">NAME
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Mitchell R. Julis</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; width: 74%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 10pt; padding-top: 8; width: 11%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
    USE ONLY</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOURCE
                                            OF FUNDS</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">AF</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d)&nbsp;or 2(e)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CITIZENSHIP
                                            OR PLACE OF ORGANIZATION</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">United States</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON WITH:</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; vertical-align: top; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; vertical-align: top; width: 70%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10</B></FONT></TD>
    <TD STYLE="border: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding-left: 5; font-size: 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">AGGREGATE
                                            AMOUNT BENEFICIALLY OWNED BY EACH PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5; border-left: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">PERCENT
                                            OF CLASS&nbsp;REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">33.0%*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">TYPE
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">IN</FONT></P></TD></TR>
  </TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
(i)&nbsp;4,396,411 shares of Common Stock beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of Common Stock
that may be issuable upon exchange of the Exchangeable Notes. Exchangeable Notes may be exchanged at any time prior to maturity. At its
election, the New Notes Issuer may consummate the exchange in cash, Common Stock or a combination thereof. Under the rules&nbsp;issued
by the Securities and Exchange Commission regarding beneficial ownership of securities, beneficial ownership of Common Stock includes
(i)&nbsp;any shares as to which the individual or entity has sole or shared voting power or investment power and (ii)&nbsp;any shares
which could be purchased by the exercise of options at or within 60 days. The Reporting Persons have included in this Schedule 13D the
shares of Common Stock that may be issuable upon exchange of the Exchangeable Notes, even though ownership of such Exchangeable Notes
does not constitute beneficial ownership of Common Stock under Rule&nbsp;13d-3 under the Securities Exchange Act of 1934 because the
Reporting Persons do not have the right to require the Issuer (which may consummate the exchange in cash, Common Stock or a combination
thereof) to exchange the Exchangeable Notes for shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the shares
of Common Stock that may be issuable upon exchange of the Exchangeable Notes. If the shares of Common Stock that may be issuable upon
exchange of the Exchangeable Notes were not included in this Schedule 13D, the Reporting Persons&#8217; beneficial ownership of Common
Stock would represent 22.0% of the total number of shares of Common Stock outstanding.</P>

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

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

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">NAME
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Joshua S. Friedman</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; width: 74%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 10pt; padding-top: 8; width: 11%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
    USE ONLY</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOURCE
                                            OF FUNDS</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">AF</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d)&nbsp;or 2(e)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CITIZENSHIP
                                            OR PLACE OF ORGANIZATION</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">United States</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON WITH:</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; vertical-align: top; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; vertical-align: top; width: 70%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10</B></FONT></TD>
    <TD STYLE="border: black 1pt solid; font-size: 10pt; padding-left: 5; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">AGGREGATE
                                            AMOUNT BENEFICIALLY OWNED BY EACH PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">PERCENT
                                            OF CLASS&nbsp;REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">33.0%*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5; font-size: 10pt; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">TYPE
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">IN</FONT></P></TD></TR>
  </TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
(i)&nbsp;4,396,411 shares of Common Stock beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of Common Stock
that may be issuable upon exchange of the Exchangeable Notes. Exchangeable Notes may be exchanged at any time prior to maturity. At its
election, the New Notes Issuer may consummate the exchange in cash, Common Stock or a combination thereof. Under the rules&nbsp;issued
by the Securities and Exchange Commission regarding beneficial ownership of securities, beneficial ownership of Common Stock includes
(i)&nbsp;any shares as to which the individual or entity has sole or shared voting power or investment power and (ii)&nbsp;any shares
which could be purchased by the exercise of options at or within 60 days. The Reporting Persons have included in this Schedule 13D the
shares of Common Stock that may be issuable upon exchange of the Exchangeable Notes, even though ownership of such Exchangeable Notes
does not constitute beneficial ownership of Common Stock under Rule&nbsp;13d-3 under the Securities Exchange Act of 1934 because the
Reporting Persons do not have the right to require the Issuer (which may consummate the exchange in cash, Common Stock or a combination
thereof) to exchange the Exchangeable Notes for shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the shares
of Common Stock that may be issuable upon exchange of the Exchangeable Notes. If the shares of Common Stock that may be issuable upon
exchange of the Exchangeable Notes were not included in this Schedule 13D, the Reporting Persons&#8217; beneficial ownership of Common
Stock would represent 22.0% of the total number of shares of Common Stock outstanding.</P>

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

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">NAME
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Jonathan M. Heller</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; width: 75%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-top: 8; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 10%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; padding-left: 5; padding-top: 8; border-bottom: black 1pt solid; border-left: black 1pt solid; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
    USE ONLY</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOURCE
                                            OF FUNDS</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">AF</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 5; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d)&nbsp;or 2(e)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">CITIZENSHIP
                                            OR PLACE OF ORGANIZATION</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">United States</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON WITH:</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; vertical-align: top; text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; vertical-align: top; width: 70%; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            VOTING POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SOLE
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">-0-</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10</B></FONT></TD>
    <TD STYLE="font-size: 10pt; padding-left: 5; padding-top: 8; border: black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SHARED
                                            DISPOSITIVE POWER</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>11</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 5; font-size: 10pt; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 8; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">AGGREGATE
                                            AMOUNT BENEFICIALLY OWNED BY EACH PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">7,674,163*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>12</B></FONT></TD>
    <TD STYLE="padding-left: 5; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHECK
    IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; padding-top: 8; font-size: 10pt; padding-bottom: 10; width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>13</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 5; font-size: 10pt; padding-top: 8; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">PERCENT
                                            OF CLASS&nbsp;REPRESENTED BY AMOUNT IN ROW (11)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">33.0%*</FONT></P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 8; text-align: center; font-size: 10pt; padding-bottom: 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 5; font-size: 10pt; padding-top: 8; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 10"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">TYPE
                                            OF REPORTING PERSON</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">IN</FONT></P></TD></TR>
  </TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
(i)&nbsp;4,396,411 shares of Common Stock beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of Common Stock
that may be issuable upon exchange of the Exchangeable Notes. Exchangeable Notes may be exchanged at any time prior to maturity. At its
election, the New Notes Issuer may consummate the exchange in cash, Common Stock or a combination thereof. Under the rules&nbsp;issued
by the Securities and Exchange Commission regarding beneficial ownership of securities, beneficial ownership of Common Stock includes
(i)&nbsp;any shares as to which the individual or entity has sole or shared voting power or investment power and (ii)&nbsp;any shares
which could be purchased by the exercise of options at or within 60 days. The Reporting Persons have included in this Schedule 13D the
shares of Common Stock that may be issuable upon exchange of the Exchangeable Notes, even though ownership of such Exchangeable Notes
does not constitute beneficial ownership of Common Stock under Rule&nbsp;13d-3 under the Securities Exchange Act of 1934 because the
Reporting Persons do not have the right to require the Issuer (which may consummate the exchange in cash, Common Stock or a combination
thereof) to exchange the Exchangeable Notes for shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the shares
of Common Stock that may be issuable upon exchange of the Exchangeable Notes. If the shares of Common Stock that may be issuable upon
exchange of the Exchangeable Notes were not included in this Schedule 13D, the Reporting Persons&#8217; beneficial ownership of Common
Stock would represent 22.0% of the total number of shares of Common Stock outstanding.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 10%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1.</B></FONT></TD>
<TD STYLE="width: 90%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITY AND ISSUER</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This statement on Schedule 13D
(this &#8220;<U>Schedule 13D</U>&#8221;) relates to the shares of common stock, $0.001 par value per share (the &#8220;<U>Common Stock</U>&#8221;),
of CBL&nbsp;&amp; Associates Properties,&nbsp;Inc., a Delaware corporation (the &#8220;<U>Issuer</U>&#8221;). The Issuer&#8217;s principal
executive offices are located at 2030 Hamilton Place Blvd., Suite&nbsp;500, Chattanooga, TN 37421.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2.</B></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IDENTITY AND BACKGROUND</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(a)</B></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Schedule 13D is filed by:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;Canyon Capital Advisors
LLC (&#8220;<U>CCA</U>&#8221;), with respect to the shares of Common Stock directly held by certain managed accounts with respect to
which it acts as investment advisor, including Canyon-ASP Fund, L.P., Canyon Balanced Master Fund,&nbsp;Ltd., Canyon Distressed Opportunity
Master Fund III, L.P., Canyon ESG Credit Master Fund, L.P., Canyon Distressed TX (A)&nbsp;LLC, Canyon Distressed TX (B)&nbsp;LLC, The
Canyon Value Realization Master Fund, L.P., Canyon-EDOF (Master) L.P., Canyon-GRF Master Fund II, L.P., Canyon NZ-DOF Investing, L.P.,
EP Canyon Ltd. and Canyon Value Realization Fund, L.P. (collectively, the &#8220;<U>Accounts</U>&#8221;);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;Mr.&nbsp;Mitchell R.
Julis (&#8220;<U>Mr.&nbsp;Julis</U>&#8221;), with respect to the shares of Common Stock directly held by the Accounts;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>(iii)&nbsp;Mr.&nbsp;Joshua S. Friedman (&#8220;<U>Mr.&nbsp;Friedman</U>&#8221;), with respect to the shares of Common Stock directly
held by the Accounts; and &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>(iv)&nbsp;Mr.&nbsp;Jonathan M. Heller (&#8220;<U>Mr.&nbsp;Heller</U>&#8221;), with respect to the shares of Common Stock directly
held by the Accounts.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Messrs.&nbsp;Julis and Friedman
manage CCA and control entities which own 100% of CCA.&nbsp;&nbsp;Mr.&nbsp;Heller, as an employee of CCA, will have influence with respect
to how the shares of the Issuer will be voted.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>The foregoing persons are hereinafter sometimes collectively referred to as the &#8220;Reporting Persons.&#8221; Any disclosures
herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate
party.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>The filing of this statement shall not be deemed an admission that any Reporting Person is the beneficial owner of the securities
reported herein for purposes of Section&nbsp;13 of the Securities Act of 1934, as amended, or otherwise. Each of Mr.&nbsp;Julis, Mr.&nbsp;Friedman
and Mr.&nbsp;Heller expressly disclaims beneficial ownership of any of the securities held by the Accounts.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(b)</B></FONT></TD>
<TD STYLE="font-size: 10pt"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The
                                            address of the business office of CCA, Mr. Julis and Mr. Friedman is 2728 North Harwood Street,
                                            2nd Floor, Dallas, Texas 75201. The address of the business office of Mr. Heller is 1370
                                            Avenue of the Americas, 30th Floor, New York, New York 10019.</P></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(c)</B></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The principal business of each
of the Reporting Persons is investment and/or investment management. </FONT></TD></TR>
</TABLE>

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

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(d)&nbsp;&amp; (e)</B></FONT></TD>
<TD STYLE="font-size: 10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the last five
years, none of the Reporting Persons has been (a)&nbsp;convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors)
or (b)&nbsp;party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining further violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to such laws.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(f)</B></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CCA is a limited liability company
organized under the laws of the state of Delaware. Each of Mr.&nbsp;Julis, Mr.&nbsp;Friedman and Mr.&nbsp;Heller is a United States citizen.
</FONT></TD></TR>
</TABLE>

<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"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    3.</B></FONT></TD>
    <TD STYLE="width: 90%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SOURCE
    AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 10pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 10pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On November&nbsp;1, 2020, the Issuer and CBL&nbsp;&amp; Associates
    Limited Partnership (the &#8220;Operating Partnership&#8221;), the majority-owned subsidiary of the Issuer, together with certain
    of its direct and indirect subsidiaries (collectively, the &#8220;Debtors&#8221;), filed voluntary petitions for relief (the &#8220;<U>Chapter
    11 Cases</U>&#8221;) under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern
    District of Texas (the &#8220;<U>Bankruptcy Court</U>&#8221;). On August&nbsp;11, 2021, the Bankruptcy Court entered an order confirming
    the Third Amended Joint Chapter 11 Plan of CBL&nbsp;&amp; Associates Properties,&nbsp;Inc. and its Affiliated Debtors (With Technical
    Modifications) (the &#8220;<U>Plan</U>&#8221;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the time of the confirmation of the Plan, the Accounts held
    (a)&nbsp;senior unsecured notes (the &#8220;<U>Notes</U>&#8221;) issued under that certain indenture, dated as of November&nbsp;23,
    2013, by and among the Operating Partnership, as issuer, the Issuer, as limited guarantor, and Delaware Trust Company (as successor
    to U.S. Bank National Association), as trustee, and (b)&nbsp;revolving loans issued under that certain Credit Agreement, dated January&nbsp;30,
    2019, by and among the Operating Partnership, as borrower, Wells Fargo Bank, National Association, as administrative agent, the lenders
    party thereto and certain other parties specified therein (the &#8220;<U>Credit Agreement</U>&#8221;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Plan, and as a result of being (a)&nbsp;Notes
    claim holders (&#8220;<U>Notes Claim Holders</U>&#8221;) and (b)&nbsp;&#8220;Consenting Crossholders&#8221; (on account of their
    ownership of claims arising under the Credit Agreement and their status as Notes Claim Holders), on November&nbsp;1, 2021, the effective
    date of the Plan (the &#8220;<U>Effective Date</U>&#8221;), the Accounts received their pro rata share of a combination of consideration
    consisting of: (i)&nbsp;cash; (ii)&nbsp;4,396,411 shares of Common Stock and (iii)&nbsp;10% Senior Secured Notes due 2029 (&#8220;<U>New
    Senior Secured Notes</U>&#8221;) issued by CBL&nbsp;&amp; Associates HoldCo II, LLC (the &#8220;<U>New Notes Issuer</U>&#8221;),
    subject to the &#8220;Exchangeable Notes Election&#8221; (as discussed herein). Pursuant to the Plan, the Exchangeable Notes Election
    afforded each Consenting Crossholder and Notes Claim Holder entitled to receive New Senior Secured Notes, an election, at its option,
    on a dollar-for-dollar basis, to substitute its allocated share of the New Senior Secured Notes for secured exchangeable notes (&#8220;<U>Exchangeable
    Notes</U>&#8221;) issued by the New Notes Issuer. Exchangeable Notes may be exchanged by the holders thereof into Common Stock and
    have the terms described in Item 7 below. Each of the Accounts exercised its Exchangeable Notes Election to the maximum extent allowed
    under the Plan and received $33,624,396 aggregate principal amount of Exchangeable Notes pursuant to the Exchangeable Notes Election
    that may be exchanged for 2,017,463 shares of Common Stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, pursuant to a commitment letter (the &#8220;<U>Commitment
    Letter</U>&#8221;), dated as of April&nbsp;26, 2021, by and among the Issuer, the Operating Partnership and the other commitment
    parties thereto, on the Effective Date, certain of the Accounts purchased for cash $21,004,816 aggregate principal amount of Exchangeable
    Notes that may be exchanged into 1,260,289 shares of Common Stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the Exchangeable Notes Election and the purchase
    of Exchangeable Notes pursuant to the Commitment Letter, the Accounts together hold $54,629,212 aggregate principal amount of Exchangeable
    Notes that may be exchanged into 3,277,752 shares of Common Stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    4.</B></FONT></TD>
    <TD STYLE="width: 90%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURPOSE
    OF TRANSACTION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    response to Item 3 of this Schedule 13D is incorporated by reference herein.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reporting Persons acquired the Common Stock and Exchangeable
    Notes in connection with the Issuer&#8217;s restructuring related to its emergence from bankruptcy on the Effective Date, including
    the purchase of Exchangeable Notes pursuant to the Commitment Letter.</P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the recommendation of the Issuer&#8217;s management
    and effective October&nbsp;15, 2021, the board of directors of the Issuer (the &#8220;<U>Board</U>&#8221;) appointed Mr.&nbsp;Heller
    to the Board as an additional director of the Issuer.&nbsp;&nbsp;On November&nbsp;1, 2021, Mr.&nbsp;Heller was named Chairman of
    the Board. In connection with Mr.&nbsp;Heller&#8217;s service as Chairman of the Board, he will receive customary director compensation
    from the Issuer.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reporting Persons may, from time to time, engage in discussions
    with members of management and the Board, other current or prospective shareholders, industry analysts, existing or potential strategic
    partners, acquirers or competitors, investment professionals, financing sources and other third parties regarding the foregoing and
    a broad range of matters relating to the Issuer, including, among other things, the Issuer&#8217;s business, operations, management,
    organizational documents, ownership, capital or corporate structure, dividend policy, corporate governance, Board composition, management
    and Board incentive programs, strategic alternatives and transactions, in which the Reporting Persons may participate, as a means
    of enhancing shareholder value. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality
    or similar agreements, which may contain customary standstill provisions. The Reporting Persons may consider, explore and/or develop
    plans and/or make proposals with respect to, among other things, the foregoing matters and may take other steps seeking to bring
    about changes to increase shareholder value as well as pursue other plans or proposals that relate to or could result in any of the
    matters set forth in clauses (a)-(j)&nbsp;of Item 4 of Schedule 13D. The Reporting Persons may also take steps to explore and prepare
    for various plans and actions, and propose transactions, before forming an intention to engage in such plans or actions or proceed
    with such transactions.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 90%; padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reporting Persons intend to review their investment in the
    Issuer on a continuing basis. Depending on various factors, including, without limitation, the outcome of any discussions referenced
    above, the Issuer&#8217;s financial position, results and strategic direction, actions taken by the Issuer&#8217;s management and
    the Board, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the
    securities market and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect
    to their investment in the Issuer as they deem appropriate, including, without limitation acquiring additional Common Stock and/or
    other equity, debt, notes, instruments or other securities of the Issuer (collectively, &#8220;<U>Securities</U>&#8221;) or disposing
    of some or all of the Securities beneficially owned by them, in the public market or in privately negotiated transactions, entering
    into financial instruments or other agreements that increase or decrease the Reporting Persons&#8217; economic exposure with respect
    to their investment in the Issuer without affecting their beneficial ownership of shares of Common Stock and/or otherwise changing
    their intention with respect to any and all matters referred to in Item 4 of Schedule 13D.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    5.</B></FONT></TD>
    <TD STYLE="width: 90%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INTEREST
    IN SECURITIES OF THE ISSUER</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(a)</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
    rows (11) and (13) of the cover pages&nbsp;to this Schedule 13D for the aggregate number of shares of Common Stock, which includes
    </FONT>(i)&nbsp;4,396,411 shares of Common Stock beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of Common
    Stock that may be issuable upon exchange of Exchangeable Notes, and the percentage of the Common Stock beneficially owned by each
    of the Reporting Persons.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchangeable
    Notes may be exchanged at any time prior to maturity. At its election, the</FONT> New Notes Issuer may consummate the exchange in
    cash, Common Stock or a combination thereof. Under the rules&nbsp;issued by the Securities and Exchange Commission regarding beneficial
    ownership of securities, beneficial ownership of Common Stock includes (i)&nbsp;any shares as to which the individual or entity has
    sole or shared voting power or investment power and (ii)&nbsp;any shares which could be purchased by the exercise of options at or
    within 60 days. The Reporting Persons have included in this Schedule 13D the shares of Common Stock that may be issuable upon exchange
    of the Exchangeable Notes, even though ownership of such Exchangeable Notes does not constitute beneficial ownership of Common Stock
    under Rule&nbsp;13d-3 under the Securities Exchange Act of 1934 because the Reporting Persons do not have the right to require the
    Issuer (which may consummate the exchange in cash, Common Stock or a combination thereof) to exchange the Exchangeable Notes for
    shares of Common Stock. The Reporting Persons disclaim beneficial ownership of the shares of Common Stock that may be issuable upon
    exchange of the Exchangeable Notes.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    percentage reported in this Schedule 13D is calculated based upon 23,267,469 shares of Common Stock outstanding, which includes (i)&nbsp;the
    19,989,717 shares of Common Stock outstanding as of November&nbsp;1, 2021 as reported in the Issuer&#8217;s Current Report on Form&nbsp;8-K
    filed with the Securities and Exchange Commission (the &#8220;<U>SEC</U>&#8221;) on November&nbsp;2, 2021 and (ii)&nbsp;3,277,752
    shares of Common Stock that may be issuable upon exchange of Exchangeable Notes. The 3,277,752 shares of Common Stock that each Reporting
    Person is deemed to beneficially own by virtue of having a right to acquire upon exchange of Exchangeable Notes are considered outstanding
    solely for purposes of calculating each Reporting Person&#8217;s percentage of ownership. If the s</FONT>hares of Common Stock that
    may be issuable upon exchange of the Exchangeable Notes were not included in this Schedule 13D, the Reporting Persons&#8217; beneficial
    ownership of Common Stock would represent 22.0% of the total number of shares of Common Stock outstanding.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(b)</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
    rows (7)&nbsp;through (10)&nbsp;of the cover pages&nbsp;to this Schedule 13D for the number of shares of Common Stock, which includes
    </FONT>(i)&nbsp;4,396,411 shares of Common Stock beneficially owned by the Reporting Persons and (ii)&nbsp;3,277,752 shares of Common
    Stock that may be issuable upon exchange of Exchangeable Notes, as to which each Reporting Person has the sole or shared power to
    vote or direct the vote and sole or shared power to dispose or to direct the disposition.&nbsp;&nbsp;The Reporting Persons disclaim
    beneficial ownership of the shares of Common Stock that may be issuable upon exchange of the Exchangeable Notes.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(c)</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
    as set forth on <U>Schedule A</U> attached hereto, there have been no transactions in the shares of Common Stock or Exchangeable
    Notes during the sixty days prior to the date of this Schedule 13D by any of the Reporting Persons.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(d)</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
    person other than the Reporting Persons and the Accounts is known to have the right to participate in the receipt of dividends from,
    or proceeds from the sale of, the shares of Common Stock or Exchangeable Notes held by the Accounts.</FONT></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(e)</B></FONT></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
    applicable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 6.</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CONTRACTS, ARRANGEMENTS,
    UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The
                                response to Item 3 and Item 4 of this Schedule 13D is incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Joint Filing Agreement</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">On November&nbsp;8, 2021, the
Reporting Persons entered into a joint filing agreement (the &#8220;<U>Joint Filing Agreement</U>&#8221;) in which the Reporting Persons
agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to securities of the Issuer, to the extent
required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Commitment Letter</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">On April&nbsp;26, 2021, CCA,
on behalf of its participating clients, entered into the Commitment Letter pursuant to which certain of the Accounts committed to purchase
Exchangeable Notes on the Effective Date. On the Effective Date, certain of the Accounts purchased $21,004,816 aggregate principal amount
of Exchangeable Notes that may be exchanged into 1,260,289 shares of Common Stock pursuant to the Commitment Letter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The foregoing description of
the Commitment Letter does not purport to be complete and is qualified in its entirety by the terms and conditions of the Commitment
Letter, a copy of which is attached hereto as Exhibit&nbsp;99.2 and is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Registration Rights Agreement</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">On the Effective Date, the
Accounts entered into that certain registration rights agreement (the &#8220;<U>Registration Rights Agreement</U>&#8221;), by and among
the Issuer and each of the other parties thereto, relating to the registration of the resale of Common Stock, including Common Stock
issued upon exchange of Exchangeable Notes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The foregoing description of
the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the
Registration Rights Agreement, which is incorporated herein by reference to Exhibit&nbsp;10.5 to Issuer&#8217;s Current Report on Form&nbsp;8-K
filed with the SEC on November&nbsp;2, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Exchangeable Notes</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
the Effective Date, the New Notes Issuer issued Exchangeable Notes to the Accounts and other holders of claims. Exchangeable Notes pay
cash interest at the rate of 7.0% per annum and mature on November&nbsp;15, 2028. Exchangeable Notes may be exchanged at any time prior
to maturity by the holders at the initial exchange rate, subject to adjustment in the manner set forth in the Exchangeable Notes Indenture,
of 60.00 shares of Common Stock for each $1,000 in aggregate principal amount of Exchangeable Notes. At its election, the</FONT> New
Notes Issuer may consummate the exchange in cash, Common Stock or a combination thereof. In addition, Exchangeable Notes may be exchanged
by the New Notes Issuer if the volume-weighted average price of the Common Stock has been at least 160% of the exchange price then in
effect (x)&nbsp;on the trading day immediately preceding the date on which the New Notes Issuer provides the exchange notice in accordance
with Section&nbsp;15.02 of the Exchangeable Notes Indenture and (y)&nbsp;for at least twenty trading days (whether or not consecutive)
during the thirty consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the
New Notes Issuer provides the exchange notice. Upon an exchange of Exchangeable Notes by the New Notes Issuer, the exchange price will
also include a make whole payment (calculated on the basis of T+50 and capped at 36 months of interest payments) payable in Common Stock
or in cash at the option of the New Notes Issuer.</P>
</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 10%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 90%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The
                                            foregoing description of Exchangeable Notes does not purport to be complete and is qualified
                                            in its entirety by the terms, conditions, representations and other provisions with respect
                                            to Exchangeable Notes, as set forth in that certain exchangeable notes indenture (the &#8220;<U>Exchangeable
                                            Notes Indenture</U>&#8221;), dated November&nbsp;1, 2021, which is incorporated herein by
                                            reference to Exhibit&nbsp;10.3 to Issuer&#8217;s Current Report on Form&nbsp;8-K filed with
                                            the SEC on November&nbsp;2, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Indemnification Agreement</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">On November&nbsp;1, 2021, the
director indemnification agreement between Issuer and Jonathan Heller (the &#8220;<U>Indemnification Agreement</U>&#8221;) became effective.&nbsp;
Pursuant to the Indemnification Agreement, the Issuer has agreed to indemnify Mr.&nbsp;Heller on the same basis as other directors of
the Issuer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The foregoing description of
the Indemnification Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the Form&nbsp;of
Director and Officer Indemnification Agreement, which is incorporated herein by reference to Exhibit&nbsp;10.7 to Issuer&#8217;s Current
Report on Form&nbsp;8-K filed with the SEC on November&nbsp;2, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">To the best knowledge of the
Reporting Persons, except as otherwise provided in this Schedule 13D, there are no contracts, arrangements, understandings or relationships
(legal or otherwise) between the persons named in Item 2 and any other person with respect to any securities of the Issuer, including
but not limited to, transfer or voting of any of the shares of Common Stock, finder&#8217;s fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, including any securities
pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over
such securities other than standard default and similar provisions contained in loan agreements.</P>
</TD></TR>
  </TABLE>

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

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


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    7.</B></FONT></TD>
    <TD STYLE="width: 90%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MATERIAL
    TO BE FILED AS EXHIBITS</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2132151d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;99.1</U></FONT>: Joint Filing Agreement as required by Rule&nbsp;13d-1(k)(1)&nbsp;under the Act.</A></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2132151d1_ex99-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;99.2</U></FONT>: Commitment Letter, by and among the Issuer, the Operating Partnership, CCA and other commitment parties thereto, dated as of April&nbsp;26, 2021.</A></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;99.3</U></FONT>:
    Registration Rights Agreement, by and among the Issuer and the other parties thereto and any additional parties identified on the
    signature pages&nbsp;of any joinder agreement executed and delivered pursuant thereto, dated as of November&nbsp;1, 2021 (incorporated
    by reference to Exhibit&nbsp;10.5 to Form&nbsp;8-K filed by the Issuer with the SEC on November&nbsp;2, 2021).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;99.4</U></FONT>:
    Exchangeable Notes Indenture, by and among the New Notes Issuer, the guarantors thereto, the Issuer, Wilmington Savings Fund Society,
    FSB, as trustee and collateral agent, dated as of November&nbsp;1, 2021 (incorporated by reference to Exhibit&nbsp;10.3 to Form&nbsp;8-K
    filed by the Issuer with the SEC on November&nbsp;2, 2021).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit&nbsp;99.5</U></FONT>:
    Form&nbsp;of Director and Officer Indemnification Agreement, effective as of November&nbsp;1, 2021 (incorporated by reference to
    Exhibit&nbsp;10.7 to Form&nbsp;8-K filed by the Issuer with the SEC on November&nbsp;2, 2021).</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After reasonable inquiry and to the best of his
or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and
correct.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: November&nbsp;8, 2021</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANYON CAPITAL
    ADVISORS LLC</B></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Doug Anderson</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Doug Anderson</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Compliance Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Mitchell R. Julis</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MITCHELL R. JULIS</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joshua S. Friedman</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>JOSHUA S. FRIEDMAN</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jonathan M. Heller</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>JONATHAN
    M. HELLER</B></FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Transactions in the Common Stock of the Issuer
During the Last 60 Days</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets
forth all transactions in the Common Stock and Exchangeable Notes effected in the past sixty days by the Reporting Persons.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Date</U></B></FONT></TD>
    <TD STYLE="width: 38%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Shares/
    Exchangeable Notes </U></B></FONT></TD>
    <TD STYLE="width: 28%; padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Description</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">November&nbsp;1, 2021</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">November&nbsp;1, 2021</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">November&nbsp;1, 2021</P></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,396,411
    </FONT>shares of Common Stock</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">$33,624,396 aggregate principal <BR>
    amount of Exchangeable Notes</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">$21,004,816 aggregate principal amount<BR>
    of Exchangeable Notes</P></TD>
    <TD STYLE="padding: 0.25pt 6pt 0.25pt 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to the Plan</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">Pursuant to the<BR>
    Exchangeable Notes Election</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">Purchased for cash pursuant to Commitment
    Letter</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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

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

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

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

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



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2132151d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT&nbsp;99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JOINT FILING AGREEMENT<BR>
PURSUANT TO RULE 13d-1(k)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The undersigned acknowledge
and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments
to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness
and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information
is inaccurate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">DATE: November&nbsp;8, 2021</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>CANYON CAPITAL
    ADVISORS LLC</B></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Doug Anderson</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Doug Anderson</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Chief Compliance Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Mitchell R. Julis</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>MITCHELL R. JULIS</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Joshua S. Friedman</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>JOSHUA S. FRIEDMAN </B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; width: 50%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Jonathan M. Heller</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.5pt; width: 50%; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>JONATHAN
    M. HELLER</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <!-- Field: /Page -->

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

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


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2132151d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 376pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>EXHIBIT 99.2&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0 0pt 376pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 376pt; text-align: right"><B><I>Execution Version</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIS COMMITMENT LETTER IS NOT AN OFFER WITH
RESPECT TO ANY SECURITIES OR A SOLICITATION OF ACCEPTANCES OF A CHAPTER 11 PLAN WITHIN THE MEANING OF SECTION&nbsp;1125 OF THE BANKRUPTCY
CODE. ANY SUCH OFFER OR SOLICITATION WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS AND/OR PROVISIONS OF THE BANKRUPTCY CODE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;26, 2021</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CBL&nbsp;&amp; Associates Properties,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2030 Hamilton Place Blvd., Suite&nbsp;500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chattanooga, Tennessee 37421-6000&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in; font: 10pt Times New Roman, Times, Serif">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Stephen Lebovitz, Chief Executive Officer</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Jeff Curry, Chief Legal Officer</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in; font: 10pt Times New Roman, Times, Serif">Email:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Stephen.Lebovitz@cblproperties.com</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Jeff.Curry@cblproperties.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">with a copy to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Weil, Gotshal&nbsp;&amp; Manges LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">767 Fifth Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10153</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in; font: 10pt Times New Roman, Times, Serif">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Ray C. Schrock, P.C.</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Moshe A. Fink</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Rachel L. Foust</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.75in; font: 10pt Times New Roman, Times, Serif">Email:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Ray.schrock@weil.com</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Moshe.fink@weil.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">Rachael.foust@weil.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Commitment
Letter (this &ldquo;<B>Commitment Letter</B>&rdquo;)</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Starting on November&nbsp;1,
2020, CBL&nbsp;&amp; Associates Properties,&nbsp;Inc., a corporation incorporated under the laws of Delaware (including as a debtor in
possession and a reorganized debtor, as appropriate, the &ldquo;<B><U>Company</U></B>&rdquo;) and certain of its Affiliates (collectively,
the &ldquo;<B><U>Debtors</U></B>&rdquo; and, together with the Company and certain non-Debtor Affiliates that will pledge assets or provide
guarantees in support of new debt instruments, the &ldquo;<B><U>Company Parties</U></B>&rdquo;) commenced voluntary cases (the &ldquo;<B><U>Chapter
11 Cases</U></B>&rdquo;) for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. &sect;&sect; 101&ndash;1532 (as
amended, the &ldquo;<B><U>Bankruptcy Code</U></B>&rdquo;) in the United States Bankruptcy Court for the Southern District of Texas (the
 &ldquo;<B><U>Bankruptcy Court</U></B>&rdquo;). Capitalized terms used but not defined herein shall have the meaning assigned to them in
the Restructuring Support Agreement (as defined below).</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company Parties and each of the
Commitment Parties (defined below) (each as a Consenting Creditor) are party to that certain First Amended and Restated
Restructuring Support Agreement (including the terms and conditions set forth in the Plan Term Sheet attached as an exhibit
thereto), made and entered into on March&nbsp;21, 2021 (the Plan Term Sheet, the Restructuring Support Agreement and all other
exhibits thereto, as may be amended, supplemented or otherwise modified from time to time, collectively, the
 &ldquo;<B><U>Restructuring Support Agreement</U></B>&rdquo;), which provides for the restructuring of the Company Parties&rsquo;
capital structure in the Chapter 11 Cases in accordance with the terms provided in the Plan Term Sheet and pursuant to the Amended
Plan (as defined below). On April&nbsp;15, 2021, the Debtors filed the Amended Joint Chapter 11 Plan of CBL&nbsp;&amp;
Associates,&nbsp;Inc. and Its Affiliated Debtors (Docket No.&nbsp;1058) (as may be amended, supplemented, or otherwise modified from
time to time, the &ldquo;<B>Amended Plan</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You have requested that each
of the undersigned parties (each, a &ldquo;<B><U>Commitment Party</U></B>&rdquo; and, collectively, the &ldquo;<B><U>Commitment Parties</U></B>&rdquo;),
deliver a commitment to purchase the New Money Convertible Notes on the Effective Date in the principal amount and for a purchase price
set forth opposite such Commitment Party&rsquo;s name on <U>Schedule 1 hereto</U>. The parties agree that the delivery of this Commitment
Letter by the Commitment Parties satisfies such delivery obligation under the Restructuring Support Agreement, and further, that certain
of the procedures related to the issuance of the New Money Convertible Notes referenced in the Plan Term Sheet are similarly satisfied,
without the need for the issuance of subscription rights pursuant to a rights offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">1. <U>Commitment</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the foregoing,
each of the Commitment Parties hereby commits, severally (and not jointly and severally), on the Effective Date, to purchase New Money
Convertible Notes (the terms of which are described in the Plan Term Sheet) on the terms, and subject to the conditions, set forth in
this Commitment Letter, in the principal amount and for the purchase price (&ldquo;<B><U>Funding Amount</U></B>&rdquo;) set forth opposite
such Commitment Party&rsquo;s name on <U>Schedule 1 hereto</U>. The commitment of each Commitment Party to purchase New Money Convertible
Notes set forth in, and subject to the terms and conditions of, this Commitment Letter shall be referred to as such Commitment Party&rsquo;s
 &ldquo;<B><U>Commitment</U></B>,&rdquo; and all of the Commitment Parties&rsquo; Commitments, which reflect an aggregate purchase price
equal to $50,000,000, shall be referred to, collectively, as the &ldquo;<B><U>Commitments</U></B>&rdquo;. No Commitment Party shall be
required to fund the commitment of another Commitment Party. In the event any Commitment Party fails to fund its Commitment made (a)&nbsp;in
its capacity as a Consenting Crossholder (a &ldquo;<B><U>Defaulting Consenting Crossholder</U></B>&rdquo;), the non-defaulting Commitment
Parties that are Consenting Crossholders may, at their option, make arrangements for one or more of such non-defaulting Commitment Parties
to purchase all or part of such defaulted Commitment, and (b)&nbsp;in its capacity as a member of the Steering Committee (a &ldquo;<B><U>Defaulting
Steering Member</U></B>&rdquo; and together with the Defaulting Consenting Crossholder, a &ldquo;<B><U>Defaulting Commitment Party</U></B>&rdquo;),
the non-defaulting Commitment Parties that are members of the Steering Committee may, at their option, make arrangements for one or more
of such non-defaulting Commitment Parties to purchase all or part of such defaulted Commitment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything
in this Commitment Letter to the contrary, any Commitment Party, in its sole discretion, may designate that some or all of the New
Money Convertible Notes be issued in the name of, and delivered to, one or more of its Affiliates or to any fund, account,
sub-account or investment vehicle that is controlled, managed, advised and/or sub-advised by such Commitment Party, an Affiliate or
related funds/accounts of such Commitment Party, or the same entity that manages or advises such Commitment Party (each, including
for the avoidance of doubt any Affiliates, a &ldquo;<B><U>Related Fund</U></B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">2. Funding</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Two (2)&nbsp;Business Days
prior to the Effective Date (the &ldquo;<B><U>Funding Date</U></B>&rdquo;), New York City time, each Commitment Party (other than those
who are prohibited or restricted under applicable fund policies (including registered investment companies under the Investment Company
Act of 1940, as amended) from paying or delivering funds prior to the Effective Date (each such Commitment Party, an &ldquo;<B><U>Investment
Company</U></B>&rdquo;) that has notified the Company in writing prior to the Funding Date), shall deliver and pay, or cause to be delivered
and paid, its aggregate Funding Amount by wire transfer in immediately available funds in U.S. dollars into the Escrow Account in satisfaction
of such Commitment Party&rsquo;s Commitment, unless otherwise agreed between any such Commitment Party and the Company. The &ldquo;<B><U>Escrow
Account</U></B>&rdquo; shall be an escrow account designated in an escrow agreement with an escrow agent, each of such escrow agreement
and escrow agent shall be reasonably satisfactory to the Commitment Parties and the Company. The Escrow Agent may not use any of the funds
received in the Escrow Account for any purpose prior to its release to the Company at the Closing (defined below) and may not encumber
or permit such funds to be encumbered with any lien or similar encumbrance. The funds held in the Escrow Account shall not be deemed part
of the Company&rsquo;s bankruptcy estate. If the Closing does not occur and this Commitment Letter is terminated in accordance with its
terms, the funds held in the Escrow Account shall be released, and each Commitment Party shall receive from the Escrow Account the cash
amount actually funded to the Escrow Account by such Commitment Party, without interest, as promptly as practical after such termination
in accordance with the terms of the escrow agreement. On the Effective Date, each Commitment Party that is an Investment Company and that
has notified the Company as set forth above, shall deliver and pay its respective Funding Amount by wire transfer of immediately available
funds in U.S. dollars to a segregated bank account of the Company designated in writing prior to the Funding Date by the Company to the
Investment Company, or make other arrangements that are acceptable to the applicable Investment Company and the Company, in satisfaction
of such Commitment Party&rsquo;s obligations hereunder. Each applicable Investment Company shall use commercially reasonable efforts to
commence sending wire transfers to such account as soon as reasonably practicable on the date of Closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">3. <U>Conditions and Closing</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The several obligation of
each Commitment Party to purchase New Money Convertible Notes on the Effective Date pursuant to its Commitment shall be subject to the
satisfaction of the conditions precedent set forth in <U>Exhibit&nbsp;A</U>, each of which may be waived in whole or in part in writing
(which may be by email and conveyed by counsel) by each of the Commitment Parties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the satisfaction
or waiver of the conditions set forth in <U>Exhibit&nbsp;A</U>, the closing of the Commitments pursuant to this Commitment Letter (the
 &ldquo;<B><U>Closing</U></B>&rdquo;) shall take place via electronic mail in portable document format (.pdf), on the Effective Date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On the Effective Date,
in accordance with the Amended Plan, the New Notes Issuer will issue the New Money Convertible Notes to each Commitment Party (or to
its Related Fund) against payment of such Commitment Party&rsquo;s Funding Amount. The New Money Convertible Notes will be delivered
into the account of the applicable Commitment Party or its Related Fund through the facilities of DTC, which account shall be
specified in writing by the Commitment Party to the Company no later than two (2)&nbsp;Business Days prior to the Effective
Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">4. <U>Representations and Warranties</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Commitment Party hereby
represents and warrants as to itself only that: (i)&nbsp;it is duly organized, validly existing and, if applicable, in good standing (or
the equivalent thereof) under the laws of its jurisdiction of incorporation or organization; (ii)&nbsp;it has the requisite power and
authority (corporate or otherwise) to enter into, execute and deliver this Commitment Letter and to perform its obligations hereunder;
(iii)&nbsp;this Commitment Letter does not violate or represent a breach of, or constitute a default under, any law, regulation or order
applicable to it, or any of its articles of association, memorandum of association or other constitutional documents; and (iv)&nbsp;this
Commitment Letter constitutes the valid and legally binding obligation of such Commitment Party, enforceable against such Commitment Part&nbsp;in
accordance with its respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar
laws limiting creditors&rsquo; rights generally or by equitable principles related to enforceability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">5. <U>Termination</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless earlier terminated
in accordance with this Commitment Letter, this Commitment Letter and the Commitments contemplated hereby shall terminate automatically
and immediately, without a need for any further action on the part of (or notice provided to) any Person, upon the earliest to occur of
(a)&nbsp;the revocation or reversal of the Confirmation Order pursuant to an order of the Bankruptcy Court (or other court of competent
jurisdiction), (b)&nbsp;the termination of the Restructuring Support Agreement, and (c)&nbsp;consummation of the transactions contemplated
hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter and
all of the Commitments contemplated hereby may be terminated by the written consent of the Company Parties and each of the Commitment
Parties. Upon the termination of this Commitment Letter, (i)&nbsp;each Commitment Party shall be released from its commitments, undertakings
and agreements under or related to this Commitment Letter (other than those commitments, undertaking and agreements that survive termination
of this Commitment Letter), (ii)&nbsp;other than in respect of termination resulting from consummation of the transactions contemplated
hereby, if applicable, any amounts funded shall be returned to the applicable Commitment Party, without interest, as soon as reasonably
practicable following such termination, and (iii)&nbsp;there shall be no further liability or obligation on the part of any Commitment
Party with respect to its respective Commitments or this Commitment Letter. For the avoidance of doubt, the automatic stay arising pursuant
to section 362 of the Bankruptcy Code shall be deemed waived or modified solely for purposes of providing notice or exercising termination
rights hereunder and under the Restructuring Support Agreement and shall not prohibit a party from taking any action necessary to effectuate
the termination of this Commitment Letter pursuant to and in accordance with its terms.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">6. <U>Indemnification</U></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Whether
or not the transactions contemplated hereby or in the Amended Plan are consummated or any of the other Restructuring Transactions
are consummated, the Company Parties hereby agree, jointly and severally, to indemnify and hold harmless each of the Commitment
Parties and each of their respective Related Funds, stockholders, equity holders, members, partners, managers, officers, directors,
employees, attorneys, accountants, financial advisors, consultants, agents, advisors and controlling persons (each, an
 &ldquo;<B><U>Indemnified Party</U></B>&rdquo;) from and against any and all losses, claims, damages, liabilities and expenses, joint
or several, imposed on, sustained, incurred or suffered by, or asserted against, any Indemnified Party as a result of or arising out
of or in any way related to, directly or indirectly, this Commitment Letter or the Commitments, or any material breach by the
Company Parties of their obligations under this Commitment Letter or any claim, litigation, investigation or proceeding relating to
any of the foregoing, regardless of whether any such Indemnified Party is a party thereto and whether or not any such claim,
litigation, investigation or proceeding is brought by the Company Parties or any of their respective Affiliates or other related
parties, and to reimburse each such Indemnified Party for the reasonable and documented legal or other out-of-pocket costs and
expenses as they are incurred in connection with investigating, responding to or defending any of the foregoing; <U>provided</U>,
that the foregoing indemnification will not, as to any Indemnified Party, apply to losses, claims, damages, liabilities or expenses
(i)&nbsp;as to a Defaulting Commitment Party or its Related Funds related to a default by such Defaulting Commitment Party or its
Related Funds, or (ii)&nbsp;to the extent they are determined by a final, non-appealable decision by a court of competent
jurisdiction to have resulted from any act by such Indemnified Party that constitutes gross negligence, fraud or willful misconduct.
All amounts to be paid or contributed by the Company Parties pursuant to this paragraph shall constitute allowed administrative
expenses against the Company Parties&rsquo; estates under the Bankruptcy Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company Parties also agree that no Indemnified Party shall have liability (whether direct or indirect, in contract, tort or otherwise)
to the Company Parties or any of its subsidiaries or any shareholder or creditors, any Person asserting claims on behalf of or in right
of the Company Parties, or any other Person in connection with or as a result of this Commitment Letter, except as to any Indemnified
Party to the extent that any losses, claims, damages, liabilities or expenses incurred by the Company Parties solely resulted from the
gross negligence, fraud or willful misconduct of such Indemnified Party, as determined by a final, non-appealable decision by a court
of competent jurisdiction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Each
Commitment Party shall only have liability to the Company Parties (and not to any other Commitment Party or person) and shall be liable
solely in respect of its individual Commitment, on a several, and not joint, basis with any other Commitment Party. None of the Indemnified
Persons, the Company Parties, or their respective directors, officers, employees, advisors, and agents shall be liable for any indirect,
special, punitive or consequential damages in connection with this Commitment Letter or the transactions contemplated hereby; <U>provided</U>,
that nothing contained in this sentence shall limit the Company Parties&rsquo; indemnity obligations to the extent set forth in paragraph
6(a).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
terms set forth in this paragraph 6 shall survive termination of this Commitment Letter and shall remain in full force and effect regardless
of whether the transactions contemplated hereby or by the Amended Plan are consummated.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> 7. <U>Absence of Fiduciary Relationship, Affiliate Activities</U>.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Each
party hereto acknowledges and agrees that (i)&nbsp;no fiduciary, advisory or agency relationship between (x)&nbsp;the Company or any
of the Company Parties on the one hand and the Commitment Parties on the other hand or (y)&nbsp;a Commitment Party and any other
Commitment Party, is intended to be or has been created in respect of any of the transactions contemplated by this Commitment
Letter, irrespective of whether the Commitment Parties have advised or are advising the Company or the Company Parties or each other
Commitment Party on any other matters, (ii)&nbsp;the Commitment Parties, on the one hand, and the Company Parties, on the other
hand, have an arm&rsquo;s length business relationship that does not directly or indirectly give rise to, nor do the Company Parties
rely on, any fiduciary duty to the Company Parties or any of their Affiliates on the part of the Commitment Parties, and the Company
Parties waive, to the fullest extent permitted by Law, any claims the Company Parties may have against any Commitment Party for
breach of duty or alleged breach of any fiduciary duty on the part of the Commitment Parties and agree that no Commitment Party will
have any liability (whether direct or indirect) to the Company Parties in respect of such a fiduciary duty claim or to any person
asserting a fiduciary duty claim on the Company Parties&rsquo; behalf, including equity holders, employees or creditors, in each
case, in respect of any of the transactions contemplated by this Commitment Letter, (iii)&nbsp;the Company Parties have consulted
their own legal, accounting, regulatory and tax advisors to the extent such persons have deemed appropriate, (iv)&nbsp;each
Commitment Party has been, is, and will be acting solely as a principal and, except as otherwise expressly agreed in writing by it
and the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for any Company Party, any
other Commitment Party, or any of the Commitment Parties&rsquo; respective Related Funds, (v)&nbsp;each Commitment Party has
independently evaluated the merits and risks of its decision to enter into this agreement and except for the representations
expressly set forth in the Disclosure Statement, this Commitment Letter or any other Definitive Documentation and/or any other
documents or instruments delivered in connection herewith or in respect of the Restructuring Transactions, each Commitment Party
disclaims reliance on any representations or warranties, either express or implied, by or on behalf of the Company Parties
(vi)&nbsp;no Commitment Party or any of its Related Funds shall have any duty to the other Commitment Parties to obtain, through the
exercise of diligence or otherwise, to investigate, confirm, or disclose to the other Commitment Parties any information relating to
New Notes Issuer, the Company Parties or any of their Subsidiaries that may have been communicated to or obtained by such Commitment
Party or any of its Related Funds in any capacity, (vii)&nbsp;no Commitment Party may rely, and each Commitment Party confirms that
it has not relied, on any due diligence investigation that any other Commitment Party or any Person acting on behalf of such other
Commitment Party may have conducted with respect to New Notes Issuer, the Company Parties or any of their Affiliates or any of their
respective securities and (viii)&nbsp;none of the Commitment Parties or their Related Funds has any obligation or duty (including
any implied duty) to the Company Parties or their Affiliates or to any other Commitment Party or Related Funds with respect to the
transactions contemplated hereby except those obligations expressly set forth herein or in any other express writing executed and
delivered by such Commitment Party and the Company Parties or any such Related Fund.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Additionally,
each party hereto acknowledges and agrees that none of the Company Parties or any Commitment Party is advising any other party as to any
legal, tax, investment, accounting or regulatory matters in any jurisdiction. Each party agrees to consult with its own advisors concerning
such matters and shall be responsible for making is own independent investigation and appraisal of the transactions contemplated by this
Commitment Letter, and no party shall have any responsibility or liability to any other party with respect thereto, other than as expressly
contemplated hereunder. Any review by the Commitment Parties of the transactions contemplated by this Commitment Letter or other matters
relating thereto will be performed solely for the benefit of the Commitment Parties and shall not be on behalf of the Company Parties
or any of its Affiliates.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Notwithstanding
anything herein to the contrary, the duties and obligations of the Commitment Parties under this Commitment Letter shall be several, not
joint, with respect to each Commitment Party. No party shall have any responsibility by virtue of this Commitment Letter for any trading
by any other entity. The Commitment Parties represent and warrant that as of the date hereof and for so long as this Commitment Letter
remains in effect, the Commitment Parties have no agreement, arrangement, or understanding with respect to acting together for the purpose
of acquiring, holding, voting, or disposing of any equity securities of the Company Parties. No prior history, pattern, or practice of
sharing confidences among or between the parties shall in any way affect or negate this agreement or understanding, and each Commitment
Party shall be entitled to independently protect and enforce its rights, including the rights arising out of this Commitment Letter, and
it shall not be necessary for any other Commitment Party to be joined as an additional party in any proceeding for such purpose. Nothing
contained in this Commitment Letter, and no action taken by any Commitment Party pursuant hereto is intended to constitute the Commitment
Parties as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that any Commitment Party
is in any way acting in concert or as a member of a &ldquo;group&rdquo; with any other Commitment Party within the meaning of Rule&nbsp;13d-5
under the Exchange Act. For the avoidance of doubt, no Commitment Party shall, nor shall any action taken by a Commitment Party pursuant
to this Commitment Letter, be deemed to be acting in concert or as any group with any other Commitment Party with respect to the obligations
under this Commitment Letter nor shall this Commitment Letter create a presumption that the Commitment Parties are in any way acting as
a group. The decision to commit to enter into the transactions contemplated by this Commitment Letter has been made independently.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">8. <U>Miscellaneous</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter
shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns, and is
intended to be solely for the benefit of the parties hereto and the Indemnified Parties and is not intended and does not confer any
benefits upon, or create any rights in favor or, any Person other than the parties hereto and the Indemnified Parties to the extent
expressly set forth herein. Neither this Commitment Letter nor any of the rights, interests or obligations under this Commitment
Letter shall be assigned by any of the parties (whether by operation of law or otherwise) without the prior written consent of the
Company and each of the Commitment Parties. Notwithstanding the immediately preceding sentence, any Commitment Party&rsquo;s rights,
obligations or interests hereunder may be freely assigned, delegated or transferred, in whole or in part, by such Commitment Party
to (a)&nbsp;any Related Fund of such Commitment Party or (b)&nbsp;any other Commitment Party; <U>provided</U>, that any such
assignee, delegate or transferee agrees in writing prior to such assignment, delegation or transfer to be bound by the terms hereof
in the same manner as the assigning, delegating or transferring Commitment Party with respect to the rights, obligations and/or
interests so assigned, delegated or transferred. Notwithstanding the foregoing or any other provision herein, no such assignment,
delegation or transfer will relieve the assigning, delegating or transferring Commitment Party of its obligations hereunder if any
such assignee, delegate or transferee fails to perform such obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter may
be executed in any number of counterparts, each of which shall be an original, and all of which, when taken together, shall constitute
one agreement. Delivery of an executed signature page&nbsp;of this Commitment Letter by facsimile or electronic transmission (e.g., &ldquo;pdf&rdquo;
or &ldquo;tif&rdquo;) shall be effective as delivery of a manually executed counterpart hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter (and
the agreements referenced in this Commitment Letter, including the Restructuring Support Agreement) set forth the entire understanding
of the parties with respect to the subject matter hereof and replaces and supersedes all prior agreements and understandings (written
or oral) among the parties related to the subject matter hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS COMMITMENT LETTER IS
TO BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED
IN SUCH STATE, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. Notwithstanding the foregoing consent to jurisdiction
in either a state or federal court of competent jurisdiction in the State of New York, Borough of Manhattan, each of the parties hereby
agrees that, so long as the Chapter 11 Cases are pending, the Bankruptcy Court shall have exclusive jurisdiction over all matters arising
out of or in connection with this Commitment Letter. Each party hereto agrees that it shall bring any action or proceeding in respect
of any claim arising out of or related to this Commitment Letter, to the extent possible, in the Bankruptcy Court, and solely in connection
with claims arising under this Commitment Letter: (a)&nbsp;irrevocably submits to the exclusive jurisdiction of the Bankruptcy Court;
(b)&nbsp;waives any objection to laying venue in any such action or proceeding in the Bankruptcy Court; and (c)&nbsp;waives any objection
that the Bankruptcy Court is an inconvenient forum or does not have jurisdiction over any party hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">EACH PARTY HEREBY WAIVES
ALL RIGHTS TO TRIAL BY JURY IN ANY JURISDICTION IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE AMONG THE PARTIES
UNDER THIS AGREEMENT, WHETHER IN CONTRACT, TORT OR OTHERWISE. Except as prohibited by law, the Company Parties hereby waive any
right which they may have to claim or recover in any action or claim referred to in the immediately preceding sentence any special,
exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages. Each of the Company
Parties (a)&nbsp;certifies that none of the Commitment Parties nor any representative of any of the Commitment Parties has
represented, expressly or otherwise, that the Commitment Parties would not, in the event of litigation, seek to enforce the
foregoing waivers and (b)&nbsp;acknowledges that, in entering into this Commitment Letter, the Commitment Parties are relying upon,
among other things, the waivers and certifications contained in this paragraph.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The indemnification, jurisdiction,
governing law, no agency or fiduciary duty, waiver of jury trial, service of process, venue provisions contained herein and the other
provisions set forth in this paragraph 8 shall remain in full force and effect notwithstanding the termination of this Commitment Letter
or the Commitments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any provision of this Commitment
Letter is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Commitment Letter will remain
in full force and effect. Any provision of this Commitment Letter held invalid or unenforceable only in part or degree will remain in
full force and effect to the extent not held invalid or unenforceable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is understood and agreed
by the parties that money damages would be an insufficient remedy for any breach of this Commitment Letter by any party, and each non-breaching
party shall be entitled to specific performance and injunctive or other equitable relief (without the posting of any bond and without
proof of actual damages) as a remedy of any such breach, including an order of the Bankruptcy Court or other court of competent jurisdiction
requiring any Party to comply promptly with any of its obligations hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All notices hereunder shall
be deemed given if in writing and delivered, by electronic mail, courier, or registered or certified mail (return receipt requested),
to the following addresses (or at such other addresses as shall be specified by like notice):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">if to a Company Party, to the address set forth at the beginning
of this Commitment Letter;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">if to a Commitment Party, to the address set forth on the signature
page&nbsp;for such Commitment Party, with a copy, which shall not constitute notice, to:</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Akin Gump Strauss Hauer&nbsp;&amp; Feld LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">One Bryant Park</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Bank of America Tower</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">New York, NY 10036-6745</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.8in">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Michael S. Stamer</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.3in">Meredith A. Lahaie</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.3in">Daniel G. Walsh</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="text-align: left; vertical-align: top">
    <TD STYLE="width: 1.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1.3in">Email addresses:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> mstamer@akingump.com <BR>
mlahaie@akingump.com <BR>
dwalsh@akingump.com</TD></TR>
  </TABLE>


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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">White&nbsp;&amp; Case LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">1221 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">New York, NY 10020-0905</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.8in">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Thomas Lauria</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.3in">Brian Pfeiffer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.3in">Michael Shepherd</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="text-align: left; vertical-align: top">
    <TD STYLE="width: 1.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1.3in">Email addresses:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> tlauria@whitecase.com <BR>
brian.pfeiffer@whitecase.com <BR>
mshepherd@whitecase.com</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Any notice given by delivery, mail, or courier shall be effective
when received.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties shall cooperate
with each other in good faith and shall coordinate their activities (to the extent practicable) in respect of all matters concerning the
implementation and consummation of the transactions contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as expressly provided
in this Commitment Letter, (a)&nbsp;nothing herein is intended to, or does, in any manner waive, limit, impair or restrict the ability
of each party to protect and preserve its rights, remedies and interests, including claims against or interests in the Company or other
parties, or its full participation in the Chapter 11 Cases, and (b)&nbsp;the parties each fully preserve any and all of their respective
rights, remedies, claims and interests upon a termination of this Commitment Letter. Further, nothing in this Commitment Letter shall
be construed to prohibit any party hereto from appearing as a party-in-interest in any matter to be adjudicated in the Chapter 11 Cases,
so long as such appearance and the positions advocated in connection therewith are consistent with this Commitment Letter, the Restructuring
Support Agreement, and the Amended Plan, and are not for the purpose of, and could not reasonably be expected to have the effect of, hindering,
delaying or preventing the consummation of the transactions contemplated by the Amended Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise agreed
in writing by the parties hereto or as required by the Restructuring Support Agreement, the Company shall not (i)&nbsp;use the name of
any Commitment Party in any press release without such Commitment Party&rsquo;s prior written consent or (ii)&nbsp;disclose to any person
or entity, other than legal, accounting, financial and other advisors to the Company Parties, the principal amount or percentage of the
Commitment held by any Commitment Party or any of its respective subsidiaries or affiliates; <U>provided</U>, <U>however</U>, that that
the Company shall be permitted to file a complete copy of this Commitment Letter with the Bankruptcy Court with schedules hereto redacted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter and
the transactions contemplated herein are part of a proposed settlement of a dispute between the parties. Nothing herein shall be deemed
an admission of any kind. Pursuant to Section&nbsp;408 of the U.S. Federal Rules&nbsp;of Evidence and any applicable state rules&nbsp;of
evidence, this Commitment Letter, the Restructuring Support Agreement and all negotiations relating thereto shall not be admissible into
evidence in any proceeding, except to the extent filed with, or disclosed to, the Bankruptcy Court in connection with the Chapter 11 Cases
(other than a proceeding to approve or enforce the terms of this Commitment Letter).</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything that
may be expressed or implied in this Commitment Letter, and notwithstanding the fact that certain of the parties may be partnerships or
limited liability companies, each party covenants, agrees and acknowledges that no recourse under this Commitment Letter or any documents
or instruments delivered in connection with this Commitment Letter shall be had against any former, current or future directors, officers,
agents, attorneys, Affiliates, general or limited partners, members, managers, employees, stockholders or equity holders of any party,
or any former, current or future directors, officers, agents, attorneys, Affiliates, employees, general or limited partners, members,
managers, employees, stockholders or equity holders of any of the foregoing, as such (any such Person, a &ldquo;<B><U>No Recourse Party</U></B>&rdquo;),
whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other
applicable law, or any other theory that seeks to &ldquo;pierce the corporate veil&rdquo; or impose liability of an entity against its
owners or Affiliates or otherwise, it being expressly agreed and acknowledged that no liability whatsoever shall attach to, be imposed
on or otherwise be incurred by any No Recourse Party for any obligation of any party under this Commitment Letter for any claim based
on, in respect of or by reason of such obligations or liabilities or their creation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Commitment Letter may
not be amended or modified, or any provision hereof waived, except by an instrument in writing signed by the Company Parties and each
of the Commitment Parties; <U>provided</U>, <U>however</U>, that where a written consent, acceptance, approval, or waiver is required
pursuant to or contemplated by this Commitment Letter, such written consent, acceptance, approval, or waiver shall be deemed to have occurred
if it is conveyed in writing (including electronic mail) between counsel to the Commitment Parties and counsel to the Company Parties
without representations or warranties of any kind on behalf of such counsel, it being understood that such communication between counsel
shall not limit or modify any of the rights that any of the Commitment Parties have to agree to such consent, acceptance, approval, or
waiver.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company Parties and each
of the Commitment Parties hereby acknowledge that each Commitment Party and its Related Funds are in the business of making investments
in and otherwise engaging in businesses which may or may not be in competition with the Company Parties and/or the other Commitment Parties,
and that this Commitment Letter and the Commitment made by such Commitment Party hereunder in no way limits or restricts the ability of
such Commitment Party or any of its Related Funds, now or at any time in the future, with regard to making such investments or engaging
in such businesses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing correctly
sets forth our agreement with you, please indicate your acceptance of the terms of this Commitment Letter by returning to us executed
counterparts of this Commitment Letter.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Remainder of Page&nbsp;Intentionally Left Blank]</I></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Very truly yours,</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 45%">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Aegon USA Investment Management, LLC</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Andrew Scriven</TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name: Andrew Scriven</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Notice Information:</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Address: </TD>
    <TD>227 W Monroe, Suite&nbsp;6000 </TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>Chicago,&nbsp;IL 60606</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Attention:</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Email: ascriven@aegonam.com</TD></TR>
  </TABLE>


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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 228pt">&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></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AURELIUS CAPITAL MASTER,&nbsp;LTD.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Eleanor Chan</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Eleanor Chan</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: &#8239;&#8239;Authorized Signatory</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aurelius Capital Master,&nbsp;Ltd.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c/o Aurelius Capital Management, LP <BR>
535 Madison Avenue, 31st Floor <BR>
New York, New York 10022 USA<BR>
 Attention: Eleanor Chan; David Pena <BR>
Emails: &nbsp;echan@aurelius-capital.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;dpena@aurelius-capital.com</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature Page&nbsp;to Commitment Letter]</I></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canyon Capital Advisors LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(on behalf of its participating clients)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jonathan M. Kaplan</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Jonathan M. Kaplan</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000 Avenue of the Stars, 11th Floor <BR>
Los Angeles, CA 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: General Counsel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: legal@canyonpartners.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cetus Capital</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Robert Davis</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Robert Davis</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8 Sound Shore Drive, Suite&nbsp;303</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greenwich, CT 06830</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: rdavis@cetuscap.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fidelity Securities Fund: Fidelity Real</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estate Income Fund</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jim Wegmann</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Jim Wegmann</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">245 Summer Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boston, MA 02110</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:</FONT></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel.chisholm@fmr.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with a copy to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nate.vanduzer@fmr.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fidelity Securities Fund: Fidelity Series</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Real Estate Income Fund</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jim Wegmann</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Jim Wegmann</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">245 Summer Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boston, MA 02110</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel.chisholm@fmr.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with a copy to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nate.vanduzer@fmr.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fidelity Salem Street Trust: Fidelity</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic Real Return Fund</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jim Wegmann</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Jim Wegmann</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">245 Summer Street</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boston, MA 02110</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel.chisholm@fmr.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with a copy to:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nate.vanduzer@fmr.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

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

<!-- Field: Page; Sequence: 6 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oaktree Capital Management, L.P.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">solely on behalf of certain managed funds and accounts within its Distressed Debt and Value Opportunities strategies</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Ross Rosenfelt</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Ross Rosenfelt</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Kaj Vazales</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Kaj Vazales</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address:</FONT></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333 South Grand Ave., 28th Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los Angeles, CA 90071</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">rrosenfelt@oaktreecapital.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>kvazales@oaktreecapital.com</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page&nbsp;to Commitment Letter</I>]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 228pt"></P>

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

<!-- Field: Page; Sequence: 7 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 14pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Commitment Parties for which Pacific
    Investment Management Company LLC serves as investment manager, adviser or sub-adviser<SUP>1</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: &nbsp;Pacific Investment Management
    Company LLC, as investment manager, adviser or sub-adviser</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;<IMG SRC="tm2132151d1_sc13d-img01.jpg" ALT="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Alfred T. Murata</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%">Alfred T. Murata</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Notice Information:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Address:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">650 Newport Center Drive</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Newport Beach, CA 92660</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Email: controlgroupNB@pimco.com</FONT></TD></TR>
  </TABLE>


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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><SUP>1 </SUP></FONT><FONT STYLE="font-size: 10pt">The
obligations arising out of this instrument are several and not joint with respect to each participating Commitment Party, in
accordance with its Commitment, and the parties agree not to proceed against any Commitment Party for the obligations of another. <FONT STYLE="font-family: Times New Roman, Times, Serif">To
the extent a Commitment Party is a registered investment company (&ldquo;</FONT><I>Trust</I><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;)
or a series thereof, a copy of the Declaration of Trust of such Trust is on file with the Secretary of State of The Commonwealth of
Massachusetts or Secretary of State of the State of Delaware. The obligations of or arising out of this instrument are not binding
upon any of such Trust&rsquo;s trustees, officers, employees, agents or shareholders individually, but are binding solely upon the
assets and property of the Trust in accordance with its Commitment. If this instrument is executed by or on behalf of a Trust on
behalf of one or more series of the Trust, the assets and liabilities of each series of the Trust are separate and distinct and the
obligations of or arising out of this instrument are binding solely upon the assets or property of the series on whose behalf this
instrument is executed. If this agreement is being executed on behalf of more than one series of a Trust, the obligations of each
series hereunder shall be several and not joint, in accordance with its Commitment, and the parties agree not to proceed against any
series for the obligations of another.</FONT></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The obligations of or arising out of this instrument are not
binding upon the trustee of PIMCO Bermuda Trust, PIMCO Bermuda <FONT STYLE="font-family: Times New Roman, Times, Serif">Trust II,
PIMCO Bermuda Trust IV (the &ldquo;</FONT><I>Bermuda Trusts</I><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;),
PIMCO Cayman Trust (&ldquo;</FONT><I>Cayman Trust</I><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;) or any
officer, director, </FONT>employee, agent or servant or any other person appointed by the trustee, or unitholders individually, but
are binding solely upon the assets and property of the Bermuda Trusts and Cayman Trust in accordance with their proportionate
interest hereunder. If this instrument is executed by or on behalf of the Bermuda Trusts and Cayman Trust on behalf of one or more
series of the Bermuda Trusts and Cayman Trust, the assets and liabilities of each series of the Bermuda Trusts and Cayman Trust are
separate and distinct and the obligations of or arising out of this instrument are binding solely upon the assets or property of the
series on whose behalf this instrument is executed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PIMCO Funds: Global Investors Series&nbsp;plc
is an Irish umbrella company with segregated liability between sub-funds. As a result, as a matter of Irish law, any liability attributable
to a particular sub-fund may only be discharged out of the assets of that sub-fund and the assets of other sub-funds may not be used to
satisfy the limited liability of that sub-fund.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
the extent a Commitment Party is a trust established under the laws of a province or territory of Canada (a &ldquo;</FONT><I>Canadian
Trust</I><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;), the obligations of or arising out of this instrument are not
binding upon (i)&nbsp;the Canadian Trust&rsquo;s trustee or investment fund </FONT>manager, (ii)&nbsp;any officer, director, employe<FONT STYLE="font-family: Times New Roman, Times, Serif">e
or agent of the Canadian Trust&rsquo;s trustee or investment fund manager, or (iii)&nbsp;any unitholder of</FONT> the Canadian Trust,
but are binding solely upon the property of the Canadian Trust in accordance with the terms of this Commitment Letter.</P>

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature Page&nbsp;to Commitment Letter]</I></P>

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

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

<!-- Field: Page; Sequence: 8 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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




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




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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B><U>ACKNOWLEDGED, AGREED AND ACCEPTED:</U></B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">On behalf of the Company Parties:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>CBL &amp; ASSOCIATES LIMITED PARTNERSHIP,</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: CBL Holdings I, Inc. its general partner</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Farzana Khaleel</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Farzana Khaleel</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Executive Vice President and Chief Financial
    Officer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">-and-</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>CBL &amp; ASSOCIATES PROPERTIES,
    INC.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/
    Farzana Khaleel&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Farzana Khaleel</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Executive Vice President and Chief Financial
    Officer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature Page&nbsp;to Commitment Letter]</I></P>

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

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

<!-- Field: Page; Sequence: 9 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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




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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Restructuring Support Agreement shall not have been terminated (or be subject to an uncured termination notice in accordance with the
Restructuring Support Agreement) and shall be in full force and effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Bankruptcy Court shall have entered the Confirmation Order in a form and substance consistent with the Restructuring Support Agreement,
and the Confirmation Order shall be a Final Order.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Company Parties shall have complied with the terms of the Amended Plan that are to be performed by any of the Company Parties prior to
the Effective Date, and the conditions to the occurrence of the Effective Date (other than any conditions related to the occurrence of
the Effective Date and the related Restructuring Transactions) set forth in the Amended Plan shall have been satisfied or waived in accordance
with the terms thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
sale and issuance of the New Money Convertible Notes shall occur, or shall be deemed to have occurred concurrently with the Effective
Date;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
New Notes Issuer shall have been duly formed, validly existing and in good standing under the Laws of its jurisdiction of formation and
shall have the requisite power and authority (corporate or otherwise) to enter into, execute and deliver each document or agreement to
which it is a party.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(w)&nbsp;The
New Convertible Notes Indenture among the New Notes Issuer, as issuer, the guarantors party thereto, and the trustee and collateral agent
under the New Convertible Notes Indenture, to be dated as of the Effective Date (the &ldquo;<B><U>New Convertible Notes Indenture</U></B>&rdquo;),
(x)&nbsp;the related security documents and agreements, pledge agreements, collateral assignments and collateral documents and (y)&nbsp;any
and all other documentation and agreements relating to the Amended Plan, the New Money Convertible Notes and the transactions contemplated
by this Commitment Letter and by the Amended Plan, each of which shall be subject to the consent rights set forth in the Restructuring
Support Agreement, shall have been duly executed and delivered by the New Notes Issuer and the other parties thereto (except for mortgage
documents or other filings necessary to perfect the liens on collateral securing the New Convertible Notes that are expressly permitted
to be made pursuant to the New Convertible Notes Indenture and/or related security documents and agreements on a post-Effective Date basis)
and will constitute valid and binding obligations of the New Notes Issuer and such other relevant parties, as applicable, except as enforceability
may be limited by bankruptcy, insolvency, reorganization or other similar laws limiting creditors&rsquo; rights generally or by equitable
principles relating to enforceability.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Company Parties shall have taken all necessary actions with the trustee under the New Convertible Notes Indenture and The Depository Trust
Company (&ldquo;<B><U>DTC</U></B>&rdquo;) to have the New Money Convertible Notes be issued in book-entry form, and shall notify the Commitment
Parties of any actions required to be taken by, or on behalf of the Commitment Parties through their respective brokers or agent, for
the New Money Convertible Notes purchased by the Commitment Parties on the Effective Date to be credited to the respective
accounts of the Commitment Parties in accordance with applicable procedures of DTC.</FONT></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Exhibit&nbsp;A-1</P>

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

<!-- Field: Page; Sequence: 10 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Company Parties, guarantors and the New Notes Issuer, as applicable, shall have executed and delivered such certificates and other ancillary
and other documents required to be delivered in connection with the execution of the New Convertible Notes Indenture, the New Notes Indenture
and the New Bank Credit Agreement, and the documentation governing the New Bank Credit Agreement and the New Notes, each of which shall
be subject to the consent rights set forth in the Restructuring Support Agreement, and the closing of the transactions and effectiveness
of the New Bank Credit Agreement and the documentation governing the New Notes shall have occurred or occurred substantially concurrently
with the occurrence of the Effective Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Subject
to the requirements of applicable local laws, each security document, when executed and delivered in connection with the issuance of the
New Money Convertible Notes, is effective to create in favor of the collateral agent under the New Convertible Notes Indenture for the
benefit of itself, the trustee under the New Convertible Notes Indenture and the holders of the New Money Convertible Notes, a legal,
valid and enforceable security interest in the collateral described therein except as enforceability may be limited by bankruptcy, insolvency,
reorganization or other similar laws limiting creditors&rsquo; rights generally or by equitable principles relating to enforceability.
Upon completion of the delivery, filing and other actions specified in the relevant security documents, the collateral agent under the
New Convertible Notes Indenture shall have a fully perfected Lien on, and security interest in, all right, title and interest of the New
Notes Issuer and the guarantors (other than CBL&nbsp;&amp; Associates Properties,&nbsp;Inc. and CBL&nbsp;&amp; Associates Properties Limited
Partnership) under the New Convertible Notes Indenture in such collateral (to the extent a security interest in such collateral can be
perfected through taking of such actions), as security for the obligations under the New Convertible Notes Indenture.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
guarantees by the guarantors of the New Money Convertible Notes (the &ldquo;<B><U>Guarantees</U></B>&rdquo;) on the Effective Date when
issued will be in the respective forms contemplated by the New Convertible Notes Indenture governing such Guarantee and have been duly
authorized for issuance pursuant to the New Convertible Notes Indenture governing such Guarantee; the Guarantees, at the Effective Date,
shall have been duly executed by each of the guarantors of the New Money Convertible Notes and, when the applicable New Money Convertible
Notes have been authenticated in the manner provided for in the New Convertible Notes Indenture governing such Guarantee and issued and
delivered against payment of the purchase price therefor, such Guarantee will constitute a valid and binding agreement of the applicable
guarantor, enforceable against such guarantor in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency,
reorganization or other similar laws limiting creditors&rsquo; rights generally or by equitable principles relating to enforceability.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xi)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
the Effective Date, other than (x)&nbsp;the New Common Stock issued pursuant to and in accordance with the terms of the Amended Plan,
(y)&nbsp;the New Common Stock reserved for issuance upon conversion of the New Money Convertible Notes in accordance with the New Convertible
Notes Indenture, and (z)&nbsp;the New Common Stock that are reserved for issuance upon exercise of stock options or other rights to acquire
or purchase shares of New Common Stock granted by the New Board in connection with the
Management Incentive Plan in accordance with the Amended Plan, no shares of New Common Stock or pre-emptive rights, rights of first refusal,
subscription and similar rights to acquire equity securities of the Reorganized Debtors will be outstanding or in effect.</FONT></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Exhibit&nbsp;A-2</P>

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

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




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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
