reimbursement obligations in connection with letters of credit that are secured by Cash and issued on behalf of the Borrower or a Subsidiary thereof in an amount not to exceed $250,000 at any time outstanding;

accounts payable (for the deferred purchase price of property or services) which are from time to time incurred in the ordinary course of business and which are not in excess of ninety (90) days past the invoice or billing date;

contingent liabilities in respect of, or Indebtedness consisting of, any indemnification obligation, adjustment of purchase price, non‑compete, earnout, put obligations or similar obligations # of any Loan Party incurred in connection with the consummation of one or more acquisitions permitted hereunder or # incurred in connection with transfers, sales or other dispositions permitted hereunder and consummated after the Effective Date, in each case, so long as # such obligation is customary for transactions of its type, # the aggregate

Subordinated Indebtedness. Any series, class or type of Subordinated Indebtedness permitted hereunder or the guarantees thereof shall cease, for any reason, to be validly subordinated to the Obligations of the Credit Parties hereunder, as provided in the corresponding Subordination Agreement or the subordination terms of such Subordinated Indebtedness, if applicable, or as a result of any structural change thereto, or any Credit Party, any Affiliate of any Credit Party, or the holders of 25% or more of such series, class or type of such Subordinated Indebtedness shall so assert;

The Obligations constitute “senior indebtedness” as such term or any other similar term is used in any applicable Permitted Subordinated Debt Indenture. The Indebtedness represented by any Permitted Subordinated Debt Indenture is subordinate to the Loans.

the Milestone Payments (as defined in the Realtime MIPA) pursuant to and in accordance with the Realtime MIPA, in an aggregate amount not to exceed $7,500,000, provided, that, the payments of such Milestone Payments shall not exceed # $2,500,000 for the period commencing on the Effective Date (as defined in the Realtime MIPA) and ending September 30, 2020, # $2,500,000 for the twelve (12) month period ended September 30, 2021 and # $2,500,000 for the twelve (12) month period ended September 30, 2022, to be paid, if applicable, on or before the March 31st following the applicable measurement period set forth in clauses # – # above, provided, further, that, in each case, # no Default or Event of Default has occurred and is continuing or would result from such payment, # unless such Milestone Payment is financed through an Equity Issuance, both immediately before and after giving effect to such payment, Availability plus Qualified Cash is equal to or greater than $10,000,000, # unless such Milestone Payment is financed through an Equity Issuance, both immediately before and after giving effect to such payment, the Leverage Ratio of the Parent and its Subsidiaries is equal to or less than 0.25 below the then applicable Leverage Ratio level set forth in [Section 7.03(a) and (z)])] the Collateral Agent shall have received a certificate of the chief financial officer of Parent, certifying that the applicable conditions set

reimbursement obligations in connection with letters of credit provided by financial institutions other than SVB that are secured by Cash and issued on behalf of the Borrower or a Subsidiary thereof in an amount not to exceed ​ at any time outstanding;

reimbursement obligations in connection with letters of credit that are secured by Cash and issued on behalf of a Borrower or a Subsidiary for real estate purposes in the ordinary course of business in an amount up to One Million Dollars ($1,000,000), and otherwise in an amount not to exceed $500,000 at any time outstanding;

reimbursement obligations in connection with letters of credit, including those provided for the benefit of a landlord in connection with real property leases for office spaces in the ordinary course of business, that are secured by Cash and issued on behalf of the Borrower or a Subsidiary thereof in an amount not to exceed $500,000 at any time outstanding,

reimbursement obligations in connection with letters of credit that are secured by Cash and issued on behalf of a Borrower or a Subsidiary for real estate purposes in the ordinary course of business in an amount up to Two Million Dollars ($2,000,000), and otherwise in an amount not to exceed $1,000,000) at any time outstanding;