On May 8, 2020 (the “Effective Date”), Internap Corporation (“INAP”), certain of its subsidiaries, the lenders party thereto and Wilmington Trust, National Association, as administrative and collateral agent, entered into a Senior Secured Term Loan Credit Agreement. The Exit Credit Agreement provides for, among other things, the conversion and refinance of certain loans under INAP’s DIP Facility into term loans in an aggregate principal amount of $75.1 million. All term loans under the Exit Credit Agreement bear interest at a rate of either: (i) an applicable base rate plus 9.0% per annum or (ii) LIBOR plus 10.0% per annum. The proceeds of the Exit Credit Agreement will be used for, among other things: (i) the repayment of all obligations under the DIP Facility, (ii) the payment of related transaction costs, fees and expenses with respect to the negotiation of agreements and the Company’s exit from the Chapter 11 Cases, (iii) to make other payments in accordance with the approved budget and (iv) for working capital and other general corporate purposes. The obligations under the Exit Credit Agreement will rank senior in payment to the obligations under the Second Out Term Loan Agreement (as hereinafter defined) and junior or pari passu with obligations under revolving credit facilities that may be established from time to time in a principal amount not to exceed $25.0 million and will be secured by substantially all of the assets of the Company and its subsidiaries party thereto, subject to customary carve-outs. The Exit Credit Agreement contains certain affirmative and negative covenants, including customary affirmative covenants related to providing financial information, maintaining ordinary business operations and compliance with the obligations of the Plan and customary negative covenants related to incurrence of indebtedness, creation of liens, making of investments, engaging in mergers or combinations, disposal of assets, declaration of dividends and distributions, transaction with affiliates, compliance with leverage ratios and similar covenants. The Exit Credit Agreement contains certain customary events of default, including payment of interest and loan amounts due, compliance with covenants, events of insolvency or filing for bankruptcy and similar obligations. The loans under the Exit Credit Agreement will mature the earlier of (i) May 8, 2023 and (ii) the date on which the obligations become due and payable, whether by acceleration or otherwise. On the Effective Date, the Company, certain of its subsidiaries, the lenders party thereto and Wilmington Trust, National Association, as administrative and collateral agent, entered into a term loan credit agreement (the “Second Out Term Loan Agreement”). The Second Out Term Loan Agreement provides for, among other things, the conversion and refinance of certain loans under INAP’s Pre-Petition Credit Agreement (as defined therein) into term loans in an aggregate principal amount of up to $225.0 million. All term loans under the Second Term Loan Agreement bear interest at a rate of either: (i) an applicable base rate plus 5.50% per annum or (ii) LIBOR plus 6.50% per annum. Of the interest rates under the Second Out Term Loan Agreement, LIBOR plus 300 basis points will be payable in cash and the remaining LIBOR plus 350 basis points will be payable in kind, provided, that the Company may elect to pay 200 basis points of the LIBOR plus 300 basis points in cash to instead be payable in kind. Term loans under the Second Out Term Loan Agreement were incurred by the Company in connection with the Company’s obligations under the Plan to holders of Allowed Existing Loan Claims. Obligations under the Second Out Term Loan Agreement will rank junior to obligations under the Exit Credit Agreement and Revolving Credit Facilities and will be secured by substantially all of the assets of the Company and its subsidiaries party thereto, subject to customary carve-outs. The Second Out Term Loan Agreement contains certain affirmative and negative covenants, including customary affirmative covenants related to providing financial information, maintaining ordinary business operations and compliance with the Plan and customary negative covenants related to incurrence of indebtedness, creation of liens, making of investments, engaging in mergers or combinations, disposal of assets, declaration of dividends and distributions, transaction with affiliates, compliance with leverage ratios and similar covenants. The Second Out Term Loan Agreement contains certain customary events of default, including payment of interest and loan amounts due, compliance with covenants, events of insolvency or filing for bankruptcy and similar obligations. The loans under the Second Out Term Loan Agreement will mature the earlier of (i) May 8, 2025, and (ii) the date on which the obligations become due and payable, whether by acceleration or otherwise.