EX-10.2
Applied Digital Corp.
INCREMENTAL ASSUMPTION AGREEMENT NO. 1
INCREMENTAL ASSUMPTION AGREEMENT NO. 1, dated as of June 26, 2026 (this “Agreement”), by and among Applied Digital Corporation, a Nevada corporation, as holdings (“Holdings”), APLD Intermediate HOLDCO LLC, a Delaware limited liability company, as borrower (the “Borrower”), the Subsidiary Guarantors party hereto, the Incremental Revolving Facility Lenders (as defined below), each Issuing Bank, and the Administrative Agent (as defined below), relating to that certain Credit Agreement, dated as of May 29, 2026 (the “Credit Agreement” and as modified pursuant to this Agreement and as it may be further amended, restated, supplemented, waived or otherwise modified from time to time, the “Amended Credit Agreement”), among, inter alios, Holdings, the Borrower, each Issuing Bank and Lender party thereto from time to time, FIRST NATIONAL BANK OF OMAHA, as administrative agent (together with its successors and assigns in such capacity, the “Administrative Agent”) and as collateral agent (together with its successors and assign
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