<p> SCHEDULE B to GSA (Fishing Licenses)</p><p>License Holder: ______</p><p>FIN: ______</p><p>Enterprise Number: ______</p><p>Species License # Quota LIST ALL SPECIES .</p><p>B-1 Fishing License Schedule B - General Security Agreement Rev. March 2016 SCHEDULE B to GSA ADDITIONAL COVENANTS (FISHING LICENSES)</p><p>1. In this Schedule B the following words and expressions shall, except where the context otherwise requires, have the following meanings:</p><p>“DFO” means the Department of Fisheries and Oceans Canada;</p><p>“ Controlling Agreement” means an agreement between a licence holder and a person, corporation or other entity that permits a person, other than the licence holder, to control or influence the licence holder’s decision to submit a request to DFO for issuance of a “replacement” licence to another fish harvester (commonly referred to as a “licence transfer”). Agreements between the licence holder and a Recognized Financial Institution (RFI) are not Controlling Agreements if (1) there is no third party involved in the Agreement or (2) any co-signor, guarantor or other surety involved in an agreement does not control or influence the licence holder’s decision to submit a request to DFO for the issuance of a “replacement” licence to another fish harvester.</p><p>“ Fishing License” means the Fishing License described in this Schedule B, and includes the right to harvest quota thereunder.</p><p>“ PIIFCAF” means the DFO policy entitled Preserving the Independence of the Inshore Fleet in Canada's Atlantic Fisheries. </p><p>2. So long as the Collateral includes any Fishing License, the Debtor represents and warrants and covenants to and in favour of BDC as follows:</p><p>(a) in addition to the Security Interests created by Clause 1.1 of this Security Agreement, the Debtor mortgages and charges, and assigns and transfers to BDC, and grants to BDC a general and continuing security interest in the Fishing Licenses described in Schedule B;</p><p>(b) the fishing operations carried on under the Fishing License will be carried on in accordance with the laws of Canada; </p><p>(c) to maintain the Fishing Licence in good standing with DFO, and to pay all fees as required for renewal of the Fishing Licenses;</p><p>(d) to provide to BDC or its representatives at all reasonable times (and at least annually during the course of BDC’s annual loan review) copies of the Fishing License; and</p><p>(e) if the Fishing License is subject to PIIFCAF:</p><p>(i) the Debtor is familiar with the DFO Policy for Preserving the Independence of the Inshore Fleet in Canada’s Atlantic Fisheries, generally, and specifically with the definition of Controlling Agreement therein;</p><p>(ii) the Fishing License is not subject to a Controlling Agreement, and the Debtor shall not enter into a Controlling Agreement; and</p><p>(iii) The Debtor consents to the filing with the Department of Fisheries and Oceans a Notice of Financial Arrangement in prescribed form.</p><p>B-2 Fishing License Schedule B - General Security Agreement Rev. March 2016</p>