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Kirkland & Ellis International EXECUTION VERSION Date: 13 August 2021 INTERIM PIK FACILITY AGREEMENT COBHAM ULTRA TOPCO S.À R.L. (as Topco) COBHAM ULTRA PIKCO S.À R.L. (as the Company) with THE FINANCIAL INSTITUTIONS LISTED HEREIN (as Interim PIK Lenders) and HSBC BANK PLC (as Interim PIK Facility Agent) and HSBC CORPORATE TRUSTEE COMPANY (UK) LIMITED (as Interim PIK Security Agent) KIRKLAND & ELLIS INTERNATIONAL LLP 30 St. Mary Axe London EC3A 8AF Tel: +44 (0)20 7469 2000 Fax: +44 (0)20 7469 2001 www.kirkland.com Project Neptune: Interim PIK Facility Agreement KE 39675-89:114460646.1 TABLE OF CONTENTS Page 1. Interpretation......................................................................................................................................1 2. The Interim PIK Facility - Availability..............................................................................................1 3. The Making of the Interim PIK Loans...............................................................................................3 4. Obligors' Agent ..................................................................................................................................6 5. Nature of an Interim Finance Party's Rights and Obligations............................................................6 6. Utilisation...........................................................................................................................................7 7. Repayment and Prepayment...............................................................................................................8 8. Interest................................................................................................................................................9 9. Market Disruption ............................................................................................................................12 10. Taxes ................................................................................................................................................13 11. Increased Costs.................................................................................................................................20 12. Payments ..........................................................................................................................................22 13. Fees and Expenses............................................................................................................................25 14. Indemnities.......................................................................................................................................26 15. Subordination ...................................................................................................................................29 16. Security ............................................................................................................................................30 17. Agents and Arrangers.......................................................................................................................32 18. Pro Rata Payments ...........................................................................................................................40 19. Set-Off..............................................................................................................................................41 20. Notices..............................................................................................................................................41 21. Confidentiality..................................................................................................................................43 22. Know Your Customer Requirements...............................................................................................44 23. Representations, Undertakings and Events of Default.....................................................................44 24. Changes to Parties............................................................................................................................47 25. Impairment and Replacement of Interim Finance Parties................................................................53 26. Conduct of Business by the Interim Finance Parties .......................................................................53 27. Amendments and Waivers ...............................................................................................................53 28. Miscellaneous...................................................................................................................................55 29. Governing Law.................................................................................................................................56 30. Jurisdiction .......................................................................................................................................56 SCHEDULE 1 Definitions and Interpretation...............................................................................................60 SCHEDULE 2 Form of Drawdown Request.................................................................................................85 SCHEDULE 3 Conditions Precedent ............................................................................................................86 SCHEDULE 4 Major Representations, Undertakings and Events of Default...............................................92 SCHEDULE 5 Impairment and Replacement of Interim Finance Parties...................................................101 SCHEDULE 6 Form of Transfer Certificate ...............................................................................................113 SCHEDULE 7 Form of Assignment Agreement.........................................................................................116 SCHEDULE 8 The Original Interim PIK Lenders......................................................................................119 SCHEDULE 9 Accession Deed...................................................................................................................120 i Project Neptune: Interim PIK Facility Agreement KE 39675-89:114460646.1 THIS AGREEMENT is made on 13 August 2021 between: (1) COBHAM ULTRA TOPCO S.À R.L., a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg with registered office at 2-4, rue Beck, L-1222 Luxembourg, Grand Duchy of Luxembourg and in registration process with the Luxembourg Register de Commerce et des Sociétés (R.C.S. Luxembourg) ("Topco"); (2) COBHAM ULTRA PIKCO S.À R.L., a private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg with registered office at 2-4, rue Beck, L-1222 Luxembourg, Grand Duchy of Luxembourg and in registration process with the Luxembourg Register de Commerce et des Sociétés (R.C.S. Luxembourg) (the "Original Borrower" and the "Company"); (3) THE FINANCIAL INSTITUTIONS listed in Schedule 8 (The Original Interim PIK Lenders) as lenders (the "Original Interim PIK Lenders"); (4) HSBC BANK PLC as agent of the other Interim Finance Parties (the "Interim PIK Facility Agent"); and (5) HSBC CORPORATE TRUSTEE COMPANY (UK) LIMITED as security agent for the Interim Finance Parties (the "Interim PIK Security Agent"). 1. INTERPRETATION Terms defined in Schedule 1 (Definitions and Interpretation) to this Agreement have the same meanings when used in this Agreement. Each Schedule to this Agreement forms part of the terms of this Agreement. 2. THE INTERIM PIK FACILITY - AVAILABILITY 2.1 The Interim PIK Facility Subject to the terms of this Agreement, the Interim PIK Lenders make available to each Borrower an interim term loan facility in an aggregate amount equal to the Total Interim PIK Facility Commitments (the "Interim PIK Facility") available to be utilised in US Dollars pursuant to Clause 2.4 (Agreed GBP to USD Exchange Rate). 2.2 Availability Periods The undrawn Interim PIK Facility Commitments of each Interim PIK Lender under the Interim PIK Facility will be automatically cancelled at 11:59 p.m. on the last day of the Certain Funds Period. 2.3 Voluntary Cancellation A Borrower (or the Obligors' Agent on its behalf) may, by two (2) Business Days' prior written notice to the Interim PIK Facility Agent, at any time cancel any undrawn amount of the Interim PIK Facility. 2.4 Agreed GBP to USD Exchange Rate (a) Upon an Interim PIK Loan Drawdown Request being submitted to the Interim PIK Facility Agent in respect of any drawdown of the Interim PIK Facility (such date being a "USD Trade Date"), the Sterling Amount shall be automatically redenominated from Sterling into USD at the Applicable Rate (with such amount in USD being the "USD Funding Amount") so that on the applicable Drawdown Date, each Interim PIK Loan under the Interim PIK Facility shall be funded by the Interim PIK Lenders in USD in an aggregate principal amount equal to the applicable USD Funding Amount. 1 Project Neptune: Interim PIK Facility Agreement KE 39675-89:114460646.1 (b) At any time on or prior to each USD Trade Date, a Borrower (or the Company on its behalf) may (in its sole and absolute discretion) contract with one or more FX Agent to purchase with USD, for settlement on a Drawdown Date, an amount of Sterling which represents the Sterling Amount at the applicable Relevant Rate of Exchange or such other agreed rate ("USD FX Contract"). (c) By no later than 3.00 p.m. on each USD Trade Date, the Interim
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