Common use of Interest Rates; Payment of Principal and Interest Clause in Contracts

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (c) Unless the Agent shall have received notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all payments shall be remitted to Agent and all such payments shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (i) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.132.12, 2.14 2.13 or 2.232.19, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 2:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day Day, and, in the case of payments of principal or interest with respect to LIBOR Rate Loans, on the next succeeding Eurodollar Business Day, for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.12, 2.13, 2.14, 2.23 2.19 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day or, in the case of a payment of principal or interest with respect to a LIBOR Rate Loan, on a day that is not a Eurodollar Business Day, the date for payment shall be extended to the next succeeding Business Day or Eurodollar Business Day, as the case may be, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (c) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between the Administrative Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for an Agent’s separate account, after giving effect to any agreements between either Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all payments and proceeds of the Collateral shall be remitted to the Administrative Agent and all such payments and proceeds of the Collateral shall be applied as follows: (A) first, ratably to pay any fees and Lender Group Expenses then due to Agent the Agents under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (GF) seventhsixth, to the Borrower (to be wired to the Ares Holdings Borrower Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) the Administrative Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by the Borrower to the Administrative Agent and specified by the Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable MarginRate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by the Administrative Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable MarginRate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, the Borrower may not have more than 10 ten LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (ih) Any Lender by written notice to the Borrower (with a copy to the Administrative Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments Assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed amount thereof available to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13not later than noon (Pacific Time), 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of payment, for the account of the Lender Group. If Borrower fails to make any such redenomination payment in Dollars in immediately available funds when due, Borrower hereby authorizes Agent to charge such interest, Letter of Credit Fees, and such principal all other fees and expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to Borrower’s Loan Account as an Advance, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a an Advance, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith Dollars in immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full in Dollars in immediately available funds to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all payments shall be remitted to Agent and all such payments shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (i) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time the amount thereof available to Agent’s Account, not later than 1:00 p.m. (Eastern Time), on any the date mayof payment, in for the discretion account of the AgentLender Group. All payments received by the Administrative Agent after 1:00 p.m. (Eastern Time), may be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to (in the Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document sole discretion) and except payments any applicable interest shall continue to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extensionaccrue. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (ci) Unless the Administrative Agent shall have received receives written notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Administrative Agent may assume that the Borrower has made (or will make) such payment in full to the Administrative Agent on such date in accordance herewith Dollars in immediately available funds and maythe Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount due. In then due such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) in accordance with their Pro Rata Share and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Administrative Agent’s separate account, after giving effect to any agreements between Agent the Agents and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all 2.17. All payments shall be remitted to Agent the Agents and all such payments payments, and all Proceeds of Collateral received by the Agents, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent the Agents under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances Loans then due to the Lenders (other than Defaulting Lenders) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in fullany other Obligations owed to Lenders (other than Defaulting Lenders), and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations owed to Defaulting Lenders until paid in full, and (G) seventh, to the Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) the Administrative Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification Obligations as to which no claim has been asserted or similar Obligationsis anticipated. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Each Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, advanced or continued, at a rate, per annum, equal to the LIBOR lesser of (i) the Interest Rate plus and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hc) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (id) Any Lender by written notice to the Borrower (with a copy to Agentthe Agents) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principalmade, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except the amount thereof available to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due not later than 11:00 a.m. (Pacific time) on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day andof payment, in the case of any payment accruing interest, interest thereon shall be payable for the period account of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in DollarsLender Group. Notwithstanding the foregoingBorrower hereby authorizes Agent, if Borrower shall fail not paid to pay any principal Agent in immediately available funds within 3 Business Days of any Advance the date when due (whether at stated maturitysuch payment was due, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation obtain quarterly payments in respect of such interest provided for in this Agreement or the other Loan Documents (as and when payable hereunder or under the other Loan Documents) by debiting any Letter account of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) Borrower with CNB in an amount equal to the Dollar Equivalent thereof on amount thereof. If Borrower fails to make any such payment when due, Borrower hereby authorizes and directs Agent to charge such interest and all other fees, expenses, and other Lender Group Expenses provided for in this Agreement or the date of such redenomination other Loan Documents (as and such principal when payable hereunder or reimbursement obligation shall be payable on demand; under the other Loan Documents), to Borrower’s Loan Account as a Loan, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a Loan, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lenderin accordance with their respective Pro Rata Shares) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments payments, and all proceeds of Collateral received by Agent, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, Documents until paid in full, (C) third, ratably to pay interest and Funding Losses due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the outstanding principal balance of all Advances Loans (including the Swing Loans) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and any other Obligations (iiother than Obligations owing to Defaulting Lenders) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations owed to Defaulting Lenders until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event of Default has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower in a written notice to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, Funding Losses, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (x) Base Rate plus the relevant Applicable MarginMargin and (y) 2.50%, and (ii) the Highest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up applicable to and including the Interest Payment Date immediately preceding the Maturity Date, such Loan and on the Maturity Date; provided, that with respect to any prepayment required pursuant to Section 2.8 hereof, the interest due with respect to the amount to be prepaid in accordance therewith and on the date required thereby, shall be calculated as the ratable portion of the accrued interest on the amount required to be so prepaid and that such accrued interest shall be calculated as if on or with respect to the Loan most recently advanced prior to the date of such prepayment. (fc) Subject to Section 2.4, each LIBOR Rate SOFR Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced, converted, or continuedcontinued to but excluding the date of conversion or repayment thereof, at a rate, rate per annum, annum equal to the LIBOR Rate lesser of (i) Term SOFR for the applicable Interest Period plus the relevant Applicable MarginMargin and (ii) the Highest Lawful Rate. Interest due with respect to each LIBOR Rate SOFR Loan shall be due and payablepayable in cash, in arrears, on each Interest Payment Date applicable to that LIBOR Rate such SOFR Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate seven (7) SOFR Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hd) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (ie) Any Lender by written notice In connection with the use or administration of Term SOFR, Agent will have the right to Borrower (with a copy make Conforming Changes from time to Agent) may request that Loans made by it be evidenced by a promissory notetime and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. In such event, Agent will promptly notify the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order Lenders of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments effectiveness of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be Conforming Changes in accordance connection with the provisions use or administration of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunderTerm SOFR.

Interest Rates; Payment of Principal and Interest. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand.[reserved] (c) Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for account of the applicable Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the such Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the applicable Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including Section 7.3 and any agreements between the Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (or the Lenders under the applicable Class, as applicable) (according to the unpaid principal balance of the Obligations to which such payments relate held by each applicable Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Agent’s separate account, after giving effect to any agreements between the Agent and individual Lenders) shall be apportioned ratably among the applicable Lenders in accordance with their respective Pro Rata Shares.Shares be applied as follows: (i) Subject to Section 2.3(d)(iii) belowbelow and Section 7.3, all payments shall be remitted to the Agent and all such payments shall be applied as followsapplied: (A) first, to pay any fees and Lender Group Expenses expenses (or the fees and expenses with respect to the relevant Class, as applicable) then due to the Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses expenses (or the fees and expenses with respect to the relevant Class, as applicable) then due to the applicable Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans (or the Loans under the relevant Class, as applicable) until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances (or the Advances under relevant Class, as applicable) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to the Agent, to be held by the Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver CommitmentLender, as cash collateral in an amount up to 102102.0% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to the Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) The Agent promptly shall distribute to each LenderLender (or each Lender under the applicable Class, as applicable), pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by the Borrower to the Agent and specified by the Borrower to be for the payment of specific Obligations (including any Obligations under any Class) then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to (i) in the case of any Base Rate Loans, the ABR plus the Applicable Margin and (ii) in the case of any Term SOFR Loans, the Adjusted Term SOFR Rate for the Interest Period in effect for such borrowing plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate ABR will become effective on the day on which each change in the Base Rate ABR is announced by the Agent. Interest due with respect to Base Rate any Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time[Reserved]. (g) Interest computed by reference to the Term SOFR Rate shall be computed on the basis of a year of 360 days. Interest computed by reference to the ABR at times when the ABR is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year). In each case interest shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Interest shall accrue from the first day of the making of a Loan (or the date on which interest or fees or other payments are due hereunder, if applicable) to (but not including) the date of repayment of such Loan (or the date of the payment of interest or fees or other payments, if applicable) in accordance with the provisions hereof. The applicable ABR or Adjusted Term SOFR Rate shall be determined by the Agent, and such determination shall be conclusive absent manifest error. (h) The Borrower shall pay the Agent (for the ratable benefit of the Lenders with a Revolver Revolving Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hi) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (ij) Any Lender by written notice to the Borrower (with a copy to the Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 Article IX of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time the amount thereof available to Agent’s Account, not later than 1:00 p.m. (Eastern Time), on any the date mayof payment, in for the discretion account of the AgentLender Group. All payments received by the Administrative Agent after 1:00 p.m. (Eastern Time), may be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to (in the Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document sole discretion) and except payments any applicable interest shall continue to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extensionaccrue. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (ci) Unless the Administrative Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Administrative Agent may assume that the Borrower has made (or will make) such payment in full to the Administrative Agent on such date in accordance herewith Dollars in immediately available funds and maythe Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount due. In then due such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) in accordance with their Pro Rata Share and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Administrative Agent’s separate account, after giving effect to any agreements between Agent the Agents and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all 2.17. All payments shall be remitted to Agent the Agents and all such payments payments, and all Proceeds of Collateral received by the Agents, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent the Agents under the Loan Documents, until paid in full, (B) second, upon written notice from Borrower of the amounts to be paid and to whom such payments should be made, to pay any Bank Product Obligations that are Secured Obligations as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its reasonable discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding, until paid in full, (C) third, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (CD) thirdfourth, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (DE) fourth, so long as no Application Event has occurred and is continuingfifth, to pay the principal of all Advances until paid in full, Loans then due to the Lenders (Eother than Defaulting Lenders) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations owed to Lenders (other than Defaulting Lenders), until paid in full, (G) seventh, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GH) seventheighth, to the Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) the Administrative Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each Each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, advanced or continued, at a rate, per annum, equal to the lesser of (i) the LIBOR Rate plus the Applicable MarginMargin and (ii) the Highest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, the Borrower may not have more than 10 one LIBOR Rate Loans Loan outstanding at any one time; provided however that up to four LIBOR Rate Loans may be outstanding at any one time in the event Delayed Draw Term Loans are made prior to the end of the Interest Period of any other LIBOR Rate Loans then existing; provided further that in the event more than one LIBOR Rate Loan is outstanding at any one time pursuant to the preceding proviso, the Borrower shall continue, in accordance with the provisions of Section 2.6, all outstanding LIBOR Rate Loans into one LIBOR Rate Loan at the end of the then existing Interest Period. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hc) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (id) Any Lender by written notice to the Borrower (with a copy to Agentthe Agents) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principalmade, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except the amount thereof available to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due not later than 11:00 a.m. (Pacific time) on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day andof payment, in the case of any payment accruing interest, interest thereon shall be payable for the period account of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in DollarsLender Group. Notwithstanding the foregoingBorrower hereby authorizes Agent, if Borrower shall fail not paid to pay any principal Agent in immediately available funds within 3 Business Days of any Advance the date when due (whether at stated maturitysuch payment was due, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation obtain quarterly payments in respect of such interest provided for in this Agreement or the other Loan Documents (as and when payable hereunder or under the other Loan Documents) by debiting any Letter account of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) Borrower with CNB in an amount equal to the Dollar Equivalent thereof on amount thereof. If Borrower fails to make any such payment when due, Borrower hereby authorizes and directs Agent to charge such interest and all other fees, expenses, and other Lender Group Expenses provided for in this Agreement or the date of such redenomination other Loan Documents (as and such principal when payable hereunder or reimbursement obligation shall be payable on demand; under the other Loan Documents), to Borrower’s Loan Account as a Loan, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a Loan, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments under the applicable Revolving Credit Facility shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lenderin accordance with their respective Pro Rata Shares) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments payments, and all proceeds of Collateral received by Agent, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, Documents until paid in full, (C) third, ratably to pay interest and Funding Losses due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the outstanding principal balance of all Advances Loans (including the Swing Loans) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and any other Obligations (iiother than Obligations owing to Defaulting Lenders) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations owed to Defaulting Lenders until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event of Default has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower in a written notice to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, Funding Losses, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (x) Base Rate plus the relevant Applicable MarginMargin for the applicable Revolving Credit Facility and (y) 2.50%, and (ii) the Highest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up applicable to and including the Interest Payment Date immediately preceding the Maturity Date, such Loan and on the Applicable Maturity Date; provided, that with respect to any prepayment required pursuant to Section 2.8 hereof, the interest due with respect to the amount to be prepaid in accordance therewith and on the date required thereby, shall be calculated as the ratable portion of the accrued interest on the amount required to be so prepaid and that such accrued interest shall be calculated as if on or with respect to the Loan most recently advanced prior to the date of such prepayment. (fc) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced, converted, or continuedcontinued to but excluding the date of conversion or repayment thereof, at a rate, rate per annum, annum equal to the lesser of (i) the LIBOR Rate plus the relevant Applicable MarginMargin for the applicable Revolving Credit Facility, and (ii) the Highest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payablepayable in cash, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Applicable Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 seven (7) LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hd) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Applicable Maturity Date. (i) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower The Borrowers shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principalmade, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except the amount thereof available to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due not later than 1:00 p.m. (Pacific Time) on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day andof payment, in the case of any payment accruing interest, interest thereon shall be payable for the period account of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in DollarsLender Group. Notwithstanding the foregoingThe Borrowers hereby authorize Agent, if Borrower shall fail not paid to pay any principal Agent in immediately available funds within two (2) Business Days of any Advance the date when due (whether at stated maturitysuch payment was due, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation obtain quarterly payments in respect of any Letter of Credit such interest provided for in this Agreement or the other Loan Documents (as and when due, payable hereunder or under the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on other Loan Documents) by debiting the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) Distribution Account in an amount equal to the Dollar Equivalent thereof on amount thereof. If the date Borrowers fail to make any such payment when due, each Borrower hereby authorizes and directs Agent to charge such interest, Letters of such redenomination Credit Fees, and such principal all other fees, expenses, and other Lender Group Expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to the Borrowers’ Loan Account as a Loan, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollarsthe Borrowers’ Loan Account as a Loan, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from the Administrative Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower Borrowers will not make such paymentpayment in full as and when required, the Agent may assume that the Borrower has Borrowers have made (or will make) such payment in full to Agent on such date in accordance herewith immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent the Borrowers do not make such payment in full to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lenderin accordance with their respective Pro Rata Shares) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.4(a)(iv) below, Agent shall apply any and all payments shall be remitted to Agent and all such payments payments,, distributions or other amounts received by Agent (or by any Lender, which shall promptly be turned over to Agent) in respect of the Obligations and/or any Collateral, and any and all proceeds of or related to any Collateral received by Agent, shall be applied as followsfollows (or by any Lender, which shall promptly be turned over to the Administrative Agent), in the following order: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event of Default has occurred and is continuing, to pay the then due and owing principal balance of all Advances Loans until paid in full, (E) fifth, if an Application Event of Default has occurred and is continuing, ratably (i) to pay the outstanding principal balance of all Advances the Loans until paid in full, full and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations (other than those owed to Defaulting Lenders), until paid in full, (G) seventh, to pay any Obligations owed to Defaulting Lenders, until paid in full, and (GH) seventheighth, to Borrower the Borrowers (to be wired to the Ares Holdings Designated Distribution Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event of Default has occurred and is continuing, Section 2.3(d)(i2.4(a)(ii) shall not apply to any payment made by any Borrower to Agent and specified by such Borrower in a written notice to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereofthereof (including, without limitation, Section 1.2), including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 2.4 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 2.4 shall control and govern. (eb) Subject to Section 2.42.5, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the Base Rate plus 1.25 percentage points or (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up applicable to and including the Interest Payment Date immediately preceding the Maturity Date, such Loan and on the Maturity Date; provided, that with respect to any prepayment required pursuant to Section 2.9 hereof, the interest due with respect to the amount to be prepaid in accordance therewith and on the date required thereby, shall be calculated as the ratable portion of the accrued interest on the amount required to be so prepaid and that such accrued interest shall be calculated as if on or with respect to the Loan most recently advanced prior to the date of such prepayment. (fc) Subject to Section 2.42.5, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the LIBOR Rate plus 2.25 percentage points and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower the Borrowers may not have more than 10 ten (10) LIBOR Rate Loans outstanding at any one time. (gd) Borrower The Borrowers shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee Fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f2.15(c)) which shall accrue at a rate equal to the Applicable Margin 2.25% per annum times the Daily Balance of the undrawn amount of all outstanding Letters Letter of Credit Usage (the “Letter of Credit Fee”). The Letter of Credit Fee , and which shall be due and payable quarterly in arrears commencing on October 1, 2019 and continuing on the first day of each quarterfiscal quarter thereafter. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such eventOn the Maturity Date, the Borrower Borrowers shall execute and deliver provide to such Lender a promissory note, substantially in the form Agent Letter of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunderCredit Collateralization.

Interest Rates; Payment of Principal and Interest. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.132.12, 2.14 2.13 or 2.232.19, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 2:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day Day, and, in the case of payments of principal or interest with respect to LIBOR Rate Loans, on the next succeeding Eurodollar Business Day, for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.12, 2.13, 2.14, 2.23 2.19 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day or, in the case of a payment of principal or interest with respect to a LIBOR Rate Loan, on a day that is not a Eurodollar Business Day, the date for payment shall be extended to the next succeeding Business Day or Eurodollar Business Day, as the case may be, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (c) Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between the Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Agent’s separate account, after giving effect to any agreements between the Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all payments shall be remitted to the Agent and all such payments shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to the Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (GF) seventhsixth, to the Borrower (to be wired to the Ares Holdings Borrower Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) the Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by the Borrower to the Agent and specified by the Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable MarginRate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by the Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable MarginRate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, the Borrower may not have more than 10 ten LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (ih) Any Lender by written notice to the Borrower (with a copy to the Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments Assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i2.3(h) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower The Borrowers shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principalmade, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except the amount thereof available to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due not later than 1:00 p.m. (Pacific Time) on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day andof payment, in the case of any payment accruing interest, interest thereon shall be payable for the period account of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in DollarsLender Group. Notwithstanding the foregoingThe Borrowers hereby authorize Agent, if Borrower shall fail not paid to pay any principal Agent in immediately available funds within two (2) Business Days of any Advance the date when due (whether at stated maturitysuch payment was due, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation obtain quarterly payments in respect of any Letter of Credit such interest provided for in this Agreement or the other Loan Documents (as and when due, payable hereunder or under the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on other Loan Documents) by debiting the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) Distribution Account in an amount equal to the Dollar Equivalent thereof on amount thereof. If the date Borrowers fail to make any such payment when due, each Borrower hereby authorizes and directs Agent to charge such interest, Letters of such redenomination Credit Fees, and such principal all other fees, expenses, and other Lender Group Expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to the Borrowers’ Loan Account as a Loan, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollarsthe Borrowers’ Loan Account as a Loan, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from the Administrative Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower Borrowers will not make such paymentpayment in full as and when required, the Agent may assume that the Borrower has Borrowers have made (or will make) such payment in full to Agent on such date in accordance herewith immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent the Borrowers do not make such payment in full to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lenderin accordance with their respective Pro Rata Shares) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.4(a)(iv) below, all payments Agent shall be remitted to Agent apply any and all such payments payments, distributions or other amounts received by Agent (or by any Lender, which shall promptly be applied as followsturned over to Agent) in respect of the Obligations and/or any Collateral, and any and all proceeds of or related to any Collateral received by Agent (or by any Lender, which shall promptly be turned over to the Administrative Agent), in the following order: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event of Default has occurred and is continuing, to pay the then due and owing principal balance of all Advances Loans until paid in full, (E) fifth, if an Application Event of Default has occurred and is continuing, ratably (i) to pay the outstanding principal balance of all Advances the Loans until paid in full, full and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations (other than those owed to Defaulting Lenders), until paid in full, (G) seventh, to pay any Obligations owed to Defaulting Lenders, until paid in full, and (GH) seventheighth, to Borrower the Borrowers (to be wired to the Ares Holdings Designated Distribution Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event of Default has occurred and is continuing, Section 2.3(d)(i2.4(a)(ii) shall not apply to any payment made by any Borrower to Agent and specified by such Borrower in a written notice to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereofthereof (including, without limitation, Section 1.2), including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 2.4 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 2.4 shall control and govern. (eb) Subject to Section 2.42.5, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the Base Rate plus 1.25 percentage points% or (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up applicable to and including the Interest Payment Date immediately preceding the Maturity Date, such Loan and on the Maturity Date; provided, that with respect to any prepayment required pursuant to Section 2.9 hereof, the interest due with respect to the amount to be prepaid in accordance therewith and on the date required thereby, shall be calculated as the ratable portion of the accrued interest on the amount required to be so prepaid and that such accrued interest shall be calculated as if on or with respect to the Loan most recently advanced prior to the date of such prepayment. (fc) Subject to Section 2.42.5, each LIBOR Rate RateSOFR Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the LIBOR Rate RateAdjusted Term SOFR for the applicable Interest Period plus 2.25 percentage points% and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate RateSOFR Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate RateSOFR Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower the Borrowers may not have more than 10 ten (10) LIBOR Rate RateSOFR Loans outstanding at any one time. (gd) Borrower The Borrowers shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee Fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f2.15(c)) which shall accrue at a rate equal to the Applicable Margin 2.25% per annum times the Daily Balance of the undrawn amount of all outstanding Letters Letter of Credit Usage (the “Letter of Credit Fee”). The Letter of Credit Fee , and which shall be due and payable quarterly in arrears commencing on October 1, 2019 and continuing on the first day of each quarterfiscal quarter thereafter. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such eventOn the Maturity Date, the Borrower Borrowers shall execute and deliver provide to such Lender a promissory noteAgent Letter of Credit Collateralization. (g) In connection with the use or administration of Term SOFR, substantially in Agent will have the form of Exhibit A-2right to make Conforming Changes from time to time and, payable notwithstanding anything to the order contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of such Lender any other party to this Agreement or any other Loan Document. Agent will promptly notify the Administrative Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR. (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9h) be represented by one or more promissory notes in such form payable Notwithstanding anything to the order contrary contained herein, any Existing LIBOR Loans shall remain “LIBOR Rate Loans” (as defined in this Agreement as in effect prior to the Sixth Amendment Effective Date) until the end of the payee named therein applicable Interest Period (or, if such promissory note is a registered note, as defined in this Agreement as in effect prior to such payee and its registered assignsthe Sixth Amendment Effective Date). For the avoidance of doubt, assignments of (i) any new Loans by Lenders (irrespective of whether promissory notes are issued hereunder) requested on or after the Sixth Amendment Effective Date shall be either Base Rate Loans or SOFR Loans and (ii) Existing LIBOR Loans may not be continued as “LIBOR Rate Loans” (as defined in accordance with this Agreement as in effect prior to the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunderSixth Amendment Effective Date).

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time the amount thereof available to Agent’s Account, not later than 1:00 p.m. (Eastern Time), on any the date mayof payment, in for the discretion account of the AgentLender Group. All payments received by the Administrative Agent after 1:00 p.m. (Eastern Time), may be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to (in the Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document sole discretion) and except payments any applicable interest shall continue to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extensionaccrue. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (ci) Unless the Administrative Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Administrative Agent may assume that the Borrower has made (or will make) such payment in full to the Administrative Agent on such date in accordance herewith Dollars in immediately available funds and maythe Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount due. In then due such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) in accordance with their Pro Rata Share and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Administrative Agent’s 's separate account, after giving effect to any agreements between Agent the Agents and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all 2.17. All payments shall be remitted to Agent the Agents and all such payments payments, and all Proceeds of Collateral received by the Agents, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent the Agents under the Loan Documents, until paid in full, (B) second, upon written notice from Borrower of the amounts to be paid and to whom such payments should be made, to pay any Bank Product Obligations that are Secured Obligations as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its reasonable discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding, until paid in full, (C) third, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (CD) thirdfourth, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (DE) fourth, so long as no Application Event has occurred and is continuingfifth, to pay the principal of all Advances until paid in full, Loans then due to the Lenders (Eother than Defaulting Lenders) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations owed to Lenders (other than Defaulting Lenders), until paid in full, (G) seventh, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GH) seventheighth, to the Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) the Administrative Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Each Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, advanced or continued, at a rate, per annum, calculated daily, equal to the LIBOR lesser of (i) Interest Rate plus and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hc) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (id) Any Lender by written notice to the Borrower (with a copy to Agentthe Agents) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders Xxxxxxx (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand[Reserved]. (c) Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for account of the applicable Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the such Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the applicable Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all payments shall be remitted to Agent and all such payments shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (i) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed amount thereof available to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13not later than noon (Pacific Time), 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of payment, for the account of the Lender Group. If Borrower fails to make any such redenomination payment in Dollars in immediately available funds when due, Borrower hereby authorizes Agent to charge such interest, Letter of Credit Fees, and such principal all other fees and expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to Borrower’s Loan Account as an Advance, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a an Advance, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith Dollars in immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full in Dollars in immediately available funds to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitmentthe Lenders, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing[Intentionally Omitted]. (G) seventh, to pay any other Obligations owed to Lenders (other than Defaulting Lenders); (H) eighth, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GI) seventhninth, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification Obligations as to which no claim has been asserted or similar Obligationsis anticipated. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (A) the Base Rate plus 0.25 percentage point and (B) 1.50 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (fc) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the greater of (A) the LIBOR Rate plus 1.50 percentage points and (B) 1.50 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 8 LIBOR Rate Loans outstanding at any one time. (gd) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver CommitmentLenders, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin 1.50% per annum times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarterInterest Payment Date. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) [Intentionally Omitted]. (g) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i2.3(g) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed amount thereof available to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13not later than noon (Pacific Time), 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of payment, for the account of the Lender Group. If Borrower fails to make any such redenomination payment in Dollars in immediately available funds when due, Borrower hereby authorizes Agent to charge such interest, Letter of Credit Fees, and such principal all other fees and expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to Xxxxxxxx’s Loan Account as an Advance, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a an Advance, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith Dollars in immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full in Dollars in immediately available funds to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments payments, and all proceeds of Collateral received by Agent, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitmentthe Lenders, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations (other than Obligations owed to Defaulting Lenders but including the provision of amounts to the Bank Product Providers, as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its Permitted Discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding), until paid in full, (G) seventh, to pay any other Obligations owed to Lenders (other than Defaulting Lenders); (H) eighth, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GI) seventhninth, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (A) the Base Rate plus 2.25 percentage point and (B) 2.65 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (fc) Subject to Section 2.4, each LIBOR Rate Loan and SOFR Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the greater of (A) the LIBOR Rate or the applicable SOFR-Based Rate plus 3.25 percentage points and (B) 3.00 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan and SOFR Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan or SOFR Loan, as applicable, and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have a total of more than 10 8 LIBOR Rate Loans and Term SOFR Loans outstanding at any one time. (gd) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver CommitmentLenders, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin 3.65% per annum times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarterInterest Payment Date. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) The parties acknowledge that public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London InterBank Offered Rates referenced in the definition of Base LIBOR Rate. Each party to this agreement should consult its own advisors to stay informed of any such developments. The interest rate on the Loans may be derived from an interest rate benchmark that is, or may in the future become, the subject of regulatory reform. (g) Any Lender by written notice to Borrower Xxxxxxxx (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders Xxxxxxx (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i2.3(g) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed amount thereof available to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13not later than noon (Pacific Time), 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of payment, for the account of the Lender Group. If Borrower fails to make any such redenomination payment in Dollars in immediately available funds when due, Borrower hereby authorizes Agent to charge such interest, Letter of Credit Fees, and such principal all other fees and expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to Borrower’s Loan Account as an Advance, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a an Advance, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith Dollars in immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full in Dollars in immediately available funds to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments payments, and all proceeds of Collateral received by Agent, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitmentthe Lenders, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations (other than Obligations owed to Defaulting Lenders but including the provision of amounts to the Bank Product Providers, as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its Permitted Discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding), until paid in full, (G) seventh, to pay any other Obligations owed to Lenders (other than Defaulting Lenders); (H) eighth, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GI) seventhninth, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (A) the Base Rate plus 2.25 percentage point and (B) 2.65 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (fc) Subject to Section 2.4, each LIBOR Rate Loan and SOFR Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the greater of (A) the LIBOR Rate or the applicable SOFR-Based Rate plus 3.25 percentage points and (B) 3.00 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan and SOFR Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan or SOFR Loan, as applicable, and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have a total of more than 10 8 LIBOR Rate Loans and Term SOFR Loans outstanding at any one time. (gd) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver CommitmentLenders, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin 3.65% per annum times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarterInterest Payment Date. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) The parties acknowledge that public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London InterBank Offered Rates referenced in the definition of Base LIBOR Rate. Each party to this agreement should consult its own advisors to stay informed of any such developments. The interest rate on the Loans may be derived from an interest rate benchmark that is, or may in the future become, the subject of regulatory reform. (g) Any Lender by written notice to Borrower Xxxxxxxx (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by -29- one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders Xxxxxxx (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i2.3(g) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed amount thereof available to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13not later than noon (Pacific Time), 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of payment, for the account of the Lender Group. If Borrower fails to make any such redenomination payment in Dollars in immediately available funds when due, Borrower hereby authorizes Agent to charge such interest, Letter of Credit Fees, and such principal all other fees and expenses provided for in this Agreement or reimbursement obligation shall be the other Loan Documents (as and when payable on demand; hereunder or under the other Loan Documents), to Borrower’s Loan Account as an Advance, and if Borrower shall fail such amounts are charged to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in DollarsBorrower’s Loan Account as a an Advance, such amounts thereafter shall accrue interest or other amount shall automatically be redenominated in Dollars on at the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal rate then applicable to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demandBase Rate Loans hereunder. (ci) Unless the Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made (or will make) such payment in full to Agent on such date in accordance herewith Dollars in immediately available funds and mayAgent may (but shall not be so required), in reliance upon such assumption, distribute to the Lenders or each Lender on such Issuing Lender, as the case may be, due date an amount equal to the amount then due such Lender. If and to the extent Borrower does not make such payment in full in Dollars in immediately available funds to Agent on the date when due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, Lender severally agrees to shall repay to the Agent forthwith on demand the such amount so distributed to such Lender or such Issuing Lender Lender, together with interest thereon at the Defaulting Lender Rate, Rate for each day from and including the date such amount is distributed to it to but excluding such Lender until the date of payment to the Agentrepaid. (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii2.3(a)(iv) below, all payments shall be remitted to Agent and all such payments payments, and all proceeds of Collateral received by Agent, shall be applied as follows: (A) first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances then due to the Lenders (other than Defaulting Lenders) until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitmentthe Lenders, as cash collateral in an amount up to 102103% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations (other than Obligations owed to Defaulting Lenders but including the provision of amounts to the Bank Product Providers, as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its Permitted Discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding), until paid in full, (G) seventh, to pay any other Obligations owed to Lenders (other than Defaulting Lenders); (H) eighth, to pay any Obligations owed to Defaulting Lenders until paid in full, and (GI) seventhninth, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iiiiv) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i2.3(a)(ii) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (ivv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (vvi) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the lesser of (i) the greater of (A) the Base Rate plus 1.25 percentage point and (B) 3.00 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (fc) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the lesser of (i) the greater of (A) the LIBOR Rate plus 3.00 percentage points and (B) 3.00 percentage points, and (ii) the Applicable MarginHighest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 8 LIBOR Rate Loans outstanding at any one time. (gd) Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver CommitmentLenders, subject to any agreements between Agent and individual Lenders), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin 3.00% per annum times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarterInterest Payment Date. (he) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (if) [intentionally omitted] (g) Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 9.1 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i2.3(g) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required due hereunder by making, or causing to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in Dollars in immediately available funds, without set-off or counterclaim. Any amounts received after such time the amount thereof available to Agent’s Account, not later than 1:00 p.m. (Eastern Time), on any the date mayof payment, in for the discretion account of the AgentLender Group. All payments received by the Administrative Agent after 1:00 p.m. (Eastern Time), may be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to (in the Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document sole discretion) and except payments any applicable interest shall continue to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extensionaccrue. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (ci) Unless the Administrative Agent shall have received receives notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such paymentpayment in full in Dollars in immediately available funds as and when required, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent.the (dii) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) in accordance with their Pro Rata Share and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Administrative Agent’s 's separate account, after giving effect to any agreements between Agent the Agents and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) Subject to Section 2.3(d)(iii) below, all 2.17. All payments shall be remitted to Agent the Agents and all such payments payments, and all Proceeds of Collateral received by the Agents, shall be applied as follows: : (A) first, to pay any fees and Lender Group Expenses then due to Agent the Agents under the Loan Documents, until paid in full, , (B) second, upon written notice from Borrower of the amounts to be paid and to whom such payments should be made, to pay any Bank Product Obligations that are Secured Obligations as cash collateral in an amount up to the amount determined by the applicable Bank Product Provider, in its reasonable discretion, as the amount necessary to secure Borrower’s or its Subsidiaries’ Bank Product Obligations that remain outstanding, until paid in full, (C) third, to pay any fees and Lender Group Expenses then due to the Lenders (other than Defaulting Lenders) under the Loan Documents, on a ratable basis, until paid in full, , (CD) thirdfourth, ratably to pay interest due to the Lenders (other than Defaulting Lenders) in respect of the Loans until paid in full, , (DE) fourth, so long as no Application Event has occurred and is continuingfifth, to pay the principal of all Advances Loans then due to the Lenders (other than Defaulting Lenders) until paid in full, , (EF) fifthsixth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances any other Obligations owed to Lenders (other than Defaulting Lenders), until paid in full, (G) seventh, to pay any Obligations owed to Defaulting Lenders until paid in full, and (iiH) to Agenteighth, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (iiiii) the Administrative Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than contingent indemnification Obligations as to which no claim has been asserted or is anticipated and other than any contingent Bank Product Obligations that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding and unasserted indemnification that are not required by the provisions of this Agreement to be repaid or similar Obligationscash collateralized. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (eb) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each Each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, advanced or continued, at a rate, per annum, equal to the lesser of (i) the LIBOR Rate plus the Applicable MarginMargin and (ii) the Highest Lawful Rate. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, the Borrower may not have more than 10 one LIBOR Rate Loans Loan outstanding at any one time. (g) ; provided however that up to four LIBOR Rate Loans may be outstanding at any one time in the event Delayed Draw Term Loans are made prior to the end of the Interest Period of any other LIBOR Rate Loans then existing; provided further that in the event more than one LIBOR Rate Loan is outstanding at any one time pursuant to the preceding proviso, the Borrower shall pay Agent (for continue, in accordance with the ratable benefit provisions of Section 2.6, all outstanding LIBOR Rate Loans into one LIBOR Rate Loan at the end of the Lenders with a Revolver Commitment)then existing Interest Period. Each Alternative Rate Loan shall bear interest upon the unpaid principal balance thereof, a Letter of Credit fee (in addition to from the chargesdate advanced or continued, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate rate, per annum, equal to the Applicable Margin times lesser of (i) the Daily Balance of Alternative Rate and (ii) the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”)Highest Lawful Rate. The Letter of Credit Fee Interest due with respect to each Alternative Rate Loan shall be due and payable quarterly payable, in arrears arrears, on each Interest Payment Date applicable to that Alternative Rate Loan and on the first day of each quarterMaturity Date. (hc) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all AdvancesLoans, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (id) Any Lender by written notice to the Borrower (with a copy to Agentthe Agents) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, A-2 payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, or to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.payee

Interest Rates; Payment of Principal and Interest. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand.[reserved] (c) Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for account of the applicable Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the such Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the applicable Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including Section 7.3 and any agreements between the Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (or the Lenders under the applicable Class, as applicable) (according to the unpaid principal balance of the Obligations to which such payments relate held by each applicable Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for the Agent’s separate account, after giving effect to any agreements between the Agent and individual Lenders) shall be apportioned ratably among the applicable Lenders in accordance with their respective Pro Rata Shares.Shares be applied as follows: (i) Subject to Section 2.3(d)(iii) belowbelow and Section 7.3, all payments shall be remitted to the Agent and all such payments shall be applied as followsapplied: (A) first, to pay any fees and Lender Group Expenses expenses (or the fees and expenses with respect to the relevant Class, as applicable) then due to the Agent under the Loan Documents, until paid in full, (B) second, to pay any fees and Lender Group Expenses expenses (or the fees and expenses with respect to the relevant Class, as applicable) then due to the applicable Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) third, ratably to pay interest due in respect of the Loans (or the Loans under the relevant Class, as applicable) until paid in full, (D) fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances (or the Advances under relevant Class, as applicable) until paid in full, (E) fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to the Agent, to be held by the Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver CommitmentLender, as cash collateral in an amount up to 102102.0% of the Letter of Credit Usage until paid in full, (F) sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) seventh, to the Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) The Agent promptly shall distribute to each LenderLender (or each Lender under the applicable Class, as applicable), pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by the Borrower to the Agent and specified by the Borrower to be for the payment of specific Obligations (including any Obligations under any Class) then due and payable (or prepayable) under any provision of this Agreement. (iv) For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to (i) in the case of any Base Rate Loans, the ABR plus the Applicable Margin and (ii) in the case of any Term SOFR Loans, the Adjusted Term SOFR Rate for the Interest Period in effect for such borrowing plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate ABR will become effective on the day on which each change in the Base Rate ABR is announced by the Agent. Interest due with respect to Base Rate any Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Closing Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time[Reserved]. (g) Interest computed by reference to the Term SOFR Rate shall be computed on the basis of a year of 360 days. Interest computed by reference to the ABR at times when the ABR is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year). In each case interest shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Interest shall accrue from the first day of the making of a Loan (or the date on which interest or fees or other payments are due hereunder, if applicable) to (but not including) the date of repayment of such Loan (or the date of the payment of interest or fees or other payments, if applicable) in accordance with the provisions hereof. The applicable ABR or Adjusted Term SOFR Rate shall be determined by the Agent, and such determination shall be conclusive absent manifest error. (h) The Borrower shall pay the Agent (for the ratable benefit of the Lenders with a Revolver Revolving Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (hi) Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (ij) Any Lender by written notice to the Borrower (with a copy to the Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 99.1) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders Xxxxxxx (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 Article IX of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of L/C Disbursements, or under Section 2.13, 2.14 or 2.23, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 1:00 p.m., New York time, on the date when due, in immediately available funds, without set-off set‑off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Agent at the Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly to an Issuing Lender as expressly provided herein and payments pursuant to Sections 2.13, 2.14, 2.23 and 8.2, which shall be made directly to the Persons entitled thereto. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. (b) . All amounts owing under this Agreement (excluding payments of principal of, and interest on, any Advance or payments relating to any Letters of Credit denominated in any Alternative Currency, which are payable in such Alternative Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if Borrower shall fail to pay any principal of any Advance when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise) or shall fail to pay any reimbursement obligation in respect of any Letter of Credit when due, the unpaid portion of such Advance or reimbursement obligation shall, if such Advance or reimbursement obligation is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal or reimbursement obligation shall be payable on demand; and if Borrower shall fail to pay any interest on any Advance or on any reimbursement obligation in respect of any Letter of Credit, or any other amount (other than any principal or reimbursement obligation), that is not denominated in Dollars, such interest or other amount shall automatically be redenominated in Dollars on the due date therefor (or, if such due date in respect of any such Advance is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest or other amount shall be payable on demand. (c) . Unless the Agent shall have received notice from Borrower prior to the date on which any payment is due to the Agent for account of the Lenders or the respective Issuing Lender hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Lender, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders or such Issuing Lender, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or such Issuing Lender with interest thereon at the Defaulting Lender Rate, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent. (d) . Except as otherwise provided with respect to Defaulting Lenders and except as otherwise provided in the Loan Documents (including agreements between Agent and individual Lenders), aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and applied thereto and payments of fees and expenses (other than fees or expenses that are for Agent’s separate account, after giving effect to any agreements between Agent and individual Lenders) shall be apportioned ratably among the Lenders in accordance with their respective Pro Rata Shares. (i) . Subject to Section 2.3(d)(iii) below, all payments shall be remitted to Agent and all such payments shall be applied as follows: (A) : first, to pay any fees and Lender Group Expenses then due to Agent under the Loan Documents, until paid in full, (B) , second, to pay any fees and Lender Group Expenses then due to the Lenders under the Loan Documents, on a ratable basis, until paid in full, (C) , third, ratably to pay interest due in respect of the Loans until paid in full, (D) , fourth, so long as no Application Event has occurred and is continuing, to pay the principal of all Advances until paid in full, (E) , fifth, if an Application Event has occurred and is continuing, ratably (i) to pay the principal of all Advances until paid in full, and (ii) to Agent, to be held by Agent, for the ratable benefit of the respective Issuing Lender and those Lenders having a Revolver Commitment, as cash collateral in an amount up to 102% of the Letter of Credit Usage until paid in full, (F) , sixth, if an Application Event has occurred and is continuing, to pay any other Obligations until paid in full, and (G) and seventh, to Borrower (to be wired to the Ares Holdings Designated Account, Ares Domestic Holdings Designated Account, Ares Investments Designated Account or Ares Real Estate Investments Designated Account, as directed by the Administrative Entity) or such other Person entitled thereto under applicable law. (ii) . Agent promptly shall distribute to each Lender, pursuant to the applicable wire instructions received from each Lender in writing, such funds as it may be entitled to receive. (iii) . In each instance, so long as no Application Event has occurred and is continuing, Section 2.3(d)(i) shall not apply to any payment made by Borrower to Agent and specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement. (iv) . For purposes of the foregoing, “paid in full” means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding, other than any contingent and unasserted indemnification or similar Obligations. (v) . In the event of a direct conflict between the priority provisions of this Section 2.3 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.3 shall control and govern. (e) . Subject to Section 2.4, each Base Rate Loan shall bear interest upon the unpaid principal balance thereof, from and including the date advanced or converted, to but excluding the date of conversion or repayment thereof, at a fluctuating rate, per annum, equal to the Base Rate plus the Applicable Margin. Any change in the interest rate resulting from a change in the Base Rate will become effective on the day on which each change in the Base Rate is announced by Agent. Interest due with respect to Base Rate Loans shall be due and payable, in arrears, commencing on the first Interest Payment Date following the Restatement Effective Date, and continuing on each Interest Payment Date thereafter up to and including the Interest Payment Date immediately preceding the Maturity Date, and on the Maturity Date. (f) . Subject to Section 2.4, each LIBOR Rate Loan shall bear interest upon the unpaid principal balance thereof, from the date advanced, converted, or continued, at a rate, per annum, equal to the LIBOR Rate plus the Applicable Margin. Interest due with respect to each LIBOR Rate Loan shall be due and payable, in arrears, on each Interest Payment Date applicable to that LIBOR Rate Loan and on the Maturity Date. Anything to the contrary contained in this Agreement notwithstanding, Borrower may not have more than 10 LIBOR Rate Loans outstanding at any one time. (g) . Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.10(f)) which shall accrue at a rate equal to the Applicable Margin times the Daily Balance of the undrawn amount of all outstanding Letters of Credit (the “Letter of Credit Fee”). The Letter of Credit Fee shall be due and payable quarterly in arrears on the first day of each quarter. (h) . Unless prepaid in accordance with the terms hereof, the outstanding principal balance of all Advances, together with accrued and unpaid interest thereon, shall be due and payable, in full, on the Maturity Date. (i) . Any Lender by written notice to Borrower (with a copy to Agent) may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note, substantially in the form of Exhibit A-2, payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). For the avoidance of doubt, assignments of any Loans by Lenders (irrespective of whether promissory notes are issued hereunder) shall be in accordance with the provisions of Section 9 of this Agreement. In no event shall the delivery of a promissory note pursuant to this Section 2.3(i) constitute a condition precedent to any extension of credit hereunder.