Exhibit 10.1

AMENDMENT NO. 9 TO FIVE-YEAR REVOLVING CREDIT AGREEMENT

THIS AMENDMENT NO. 9 TO FIVE-YEAR REVOLVING CREDIT AGREEMENT (this “Amendment”)
is dated as of March 31, 2020 by and among BLACKROCK, INC., a Delaware
corporation (the “Company”), the Designated Borrowers party hereto (each a
“Designated Borrower” and, together with the Company, the “Borrowers” and, each
a “Borrower”), the banks and other financial institutions or entities party
hereto (the “Lenders”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

Statement of Purpose

The Borrowers, the Lenders and the Administrative Agent are parties to that
certain Credit Agreement dated as of March 10, 2011 (as amended by that certain
Amendment No. 1 to Five-Year Revolving Credit Agreement dated as of March 30,
2012, that certain Amendment No. 2 to Five-Year Revolving Credit Agreement dated
as of March 28, 2013, that certain Amendment No. 3 to Five-Year Revolving Credit
Agreement dated as of March 28, 2014, that certain Amendment No. 4 to Five-Year
Revolving Credit Agreement dated as of April 2, 2015, that certain Amendment
No. 5 to Five-Year Revolving Credit Agreement dated as of April 8, 2016, that
certain Amendment No. 6 to Five-Year Revolving Credit Agreement dated as of
April 6, 2017, that certain Amendment No. 7 to Five-Year Revolving Credit
Agreement dated as of April 3, 2018, and that certain Amendment No. 8 to
Five-Year Revolving Credit Agreement dated as of March 29, 2019 the “Credit
Agreement”), pursuant to which the Lenders have extended certain credit
facilities to the Borrowers.

The Borrowers have requested, and the Lenders and the Administrative Agent have
agreed, subject to the terms and conditions set forth herein, to amend the
Credit Agreement as specifically set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto hereby agree as follows:

1.    Capitalized Terms. All capitalized undefined terms used in this Amendment
(including, without limitation, in the introductory paragraph and the Statement
of Purpose hereto) shall have the meanings assigned thereto in the Credit
Agreement.

2.    Amendments. Subject to and in accordance with the terms and conditions set
forth herein, the parties hereto hereby agree that the Credit Agreement is
amended as follows:

(a)    The Credit Agreement is hereby amended by replacing references to the
phrase “Company Sublimit Notice” with the phrase “Sublimit Notice” in each place
it appears in each of Section 1.1, Section 2.1(a), Section 13.2 and Exhibit L.

(b)    Section 1.1 of the Credit Agreement is hereby amended by deleting the
definition of “Company Sublimit”, “Designated Borrower Sublimit”, “LIBOR”,
“Maturity Date” and “Non-Consenting Lender” in their entirety and replacing them
with the following:

“ ‘Company Sublimit’ means $3,400,000,000, or such other amount as the Borrowers
have notified the Administrative Agent of by delivery to the Administrative
Agent of a Sublimit Notice; provided that, in the event there is a Defaulting
Lender, the Company Sublimit shall be reduced by such Defaulting Lender’s
Commitment Percentage for so long as such Lender is a Defaulting Lender. For the
avoidance of doubt, upon any

 

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such Defaulting Lender being deemed cured in accordance with Section 4.16(h), by
replacement of such Defaulting Lender pursuant to Section 4.14(b) or otherwise,
the reduction of the Company Sublimit shall be of no further effect.”

“ ‘Designated Borrower Sublimit’ means (a) with respect to BlackRock Group
Limited, $1,500,000,000, or such other amount as the Borrowers have notified the
Administrative Agent of by delivery of a Sublimit Notice, and (b) with respect
to any additional Designated Borrower, (i) at the time such Subsidiary is added
as a Designated Borrower pursuant to Section 2.9, the amount reasonably
determined by the Administrative Agent in consultation with the Company and
(ii) from time to time thereafter, such other amount as the Borrowers have
notified the Administrative Agent of by delivery to the Administrative Agent of
a Sublimit Notice; provided that, in each case, in the event there is a
Defaulting Lender, the Designated Borrower Sublimit shall be reduced by such
Defaulting Lender’s Commitment Percentage for so long as such Lender is a
Defaulting Lender. For the avoidance of doubt, upon any such Defaulting Lender
being deemed cured in accordance with Section 4.16(h), by replacement of such
Defaulting Lender pursuant to Section 4.14(b) or otherwise, the reduction of the
Designated Borrower Sublimit shall be of no further effect.”

“ ‘LIBOR’ means, subject to the implementation of a Benchmark Replacement in
accordance with Section 4.10(c), the rate of interest per annum determined on
the basis of the rate for deposits in Dollars or the applicable Alternative
Currency in minimum amounts of at least $5,000,000 or the applicable Alternative
Currency Amount for a period equal to the applicable Interest Period which
appears on the Reuters Page LIBOR01, or its successor page, at approximately
11:00 a.m. (London time) two (2) Business Days prior to the first day of the
applicable Interest Period (rounded to the nearest 1/100th of 1%). If, for any
reason, such rate does not appear on Reuters Page LIBOR01, or its successor
page, then “LIBOR” shall be determined by the Administrative Agent to be the
arithmetic average of the rate per annum at which deposits in Dollars in minimum
amounts of at least $5,000,000 or the applicable Alternative Currency Amount
would be offered by first class banks in the London interbank market to the
Administrative Agent at approximately 11:00 a.m. (London time) two (2) Business
Days prior to the first day of the applicable Interest Period for a period equal
to such Interest Period. Each calculation by the Administrative Agent of LIBOR
shall be conclusive and binding for all purposes, absent manifest error.
Notwithstanding the foregoing, (i) if LIBOR (including, without limitation, any
Benchmark Replacement with respect thereto) shall be less than zero, such rate
shall be deemed to be zero for purposes of this Agreement and (ii) unless
otherwise specified in any amendment to this Agreement entered into in
accordance with Section 4.10(c), in the event that a Benchmark Replacement with
respect to LIBOR is implemented then all references herein to LIBOR shall be
deemed references to such Benchmark Replacement.”

“ ‘Maturity Date’ means the earliest to occur of (a) March 31, 2025 (as such
date may be extended with respect to consenting Lenders pursuant to
Section 2.10), (b) the date of termination by the Company pursuant to
Section 2.6, or (c) the date of termination pursuant to Section 11.2(a).”

“ ‘Non-Consenting Lender’ means any Lender that (a) has not consented to any
proposed amendment, modification, waiver or termination of any Loan Document
which, pursuant to Section 13.2, requires the consent of such Lender and with
respect to which the

 

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Required Lenders shall have granted their consent, (b) has objected to an
increase or reinstatement of a Designated Borrower Sublimit requested by the
Borrowers pursuant to a Sublimit Notice or (c) constitutes a Non-Consenting
Lender with respect to any requested extension of the Maturity Date pursuant to
Section 2.10.”

For the avoidance of doubt, the amendment of the definition of “Maturity Date”
set forth above shall not constitute a utilization of the Company’s option to
request extensions of the Maturity Date in respect of the Revolving Credit
Facility pursuant to Section 2.10 of the Credit Agreement.

(c)    Section 1.1 of the Credit Agreement is hereby amended by revising the
definition of “Japanese Base Rate” to delete the period at the end of the first
sentence and inserting the following in its place: “; provided, that if such
rate shall be less than zero, such rate shall be deemed to be zero for purposes
of this Agreement.”

(d)    Section 1.1 of the Credit Agreement is hereby amended by revising the
definition of “LIBOR Market Index Rate” to delete the period at the end of such
definition and inserting the following in its place: “; provided, that if such
rate shall be less than zero, such rate shall be deemed to be zero for purposes
of this Agreement.”

(e)    Section 1.1 of the Credit Agreement is hereby amended by inserting the
following new definitions in their respective proper alphabetical order:

“ ‘Benchmark Replacement’ means, with respect to all Loans denominated in a
given currency, the sum of: (a) the alternate benchmark rate that has been
selected by the Administrative Agent and the Company giving due consideration to
(i) any selection or recommendation of a replacement rate or the mechanism for
determining such a rate by the Relevant Governmental Body with respect to such
currency or (ii) any evolving or then-prevailing market convention for
determining a rate of interest as a replacement to LIBOR for syndicated credit
facilities denominated in such currency and (b) the applicable Benchmark
Replacement Adjustment for such Benchmark Replacement; provided that, if any
Benchmark Replacement as so determined would be less than zero, such Benchmark
Replacement will be deemed to be zero for the purposes of this Agreement.”

“ ‘Benchmark Replacement Adjustment’ means, with respect to any replacement of
LIBOR with an Unadjusted Benchmark Replacement for each applicable Interest
Period, the spread adjustment, or method for calculating or determining such
spread adjustment, (which may be a positive or negative value or zero) that has
been selected by the Administrative Agent and the Company giving due
consideration to (i) any selection or recommendation of a spread adjustment, or
method for calculating or determining such spread adjustment, for the
replacement of LIBOR with the applicable Unadjusted Benchmark Replacement by the
Relevant Governmental Body or (ii) any evolving or then-prevailing market
convention for determining a spread adjustment, or method for calculating or
determining such spread adjustment, for the replacement of LIBOR with the
applicable Unadjusted Benchmark Replacement for syndicated credit facilities at
such time denominated in the relevant currency.”

“ ‘Benchmark Replacement Conforming Changes’ means, with respect to any
Benchmark Replacement, any technical, administrative or operational changes
(including changes to the definition of “Base Rate,” the definition of “Interest
Period,” timing and frequency of determining rates and making payments of
interest and other administrative matters) that the Administrative Agent
decides, in consultation with the Company, may be appropriate to reflect the
adoption and implementation of such Benchmark Replacement and to permit the
administration thereof by the Administrative Agent in a manner substantially
consistent with market practice (or, if the Administrative Agent decides that

 

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adoption of any portion of such market practice is not administratively feasible
or if the Administrative Agent determines that no market practice for the
administration of the Benchmark Replacement exists, in such other manner of
administration as the Administrative Agent decides, in consultation with the
Company, is reasonably necessary in connection with the administration of this
Agreement).”

“ ‘Benchmark Replacement Date’ means the earlier to occur of the following
events with respect to LIBOR with respect to a given currency:

 

  (1)

in the case of clause (1) or (2) of the definition of “Benchmark Transition
Event,” the later of (a) the date of the public statement or publication of
information referenced therein and (b) the date on which the administrator of
LIBOR permanently or indefinitely ceases to provide LIBOR with respect to such
currency; or

 

  (2)

in the case of clause (3) of the definition of “Benchmark Transition Event,” the
date of the public statement or publication of information referenced therein.”

“ ‘Benchmark Transition Event’ means the occurrence of one or more of the
following events with respect to LIBOR with respect to a given currency:

 

  (1)

a public statement or publication of information by or on behalf of the
administrator of LIBOR announcing that such administrator has ceased or will
cease to provide LIBOR with respect to such currency, permanently or
indefinitely, provided that, at the time of such statement or publication, there
is no successor administrator that will continue to provide LIBOR with respect
to such currency;

 

  (2)

a public statement or publication of information by the regulatory supervisor
for the administrator of LIBOR, the U.S. Federal Reserve System, an insolvency
official with jurisdiction over the administrator for LIBOR, a resolution
authority with jurisdiction over the administrator for LIBOR or a court or an
entity with similar insolvency or resolution authority over the administrator
for LIBOR or any other Relevant Governmental Body, which states that the
administrator of LIBOR with respect to such currency has ceased or will cease to
provide LIBOR permanently or indefinitely, provided that, at the time of such
statement or publication, there is no successor administrator that will continue
to provide LIBOR with respect to such currency; or

 

  (3)

a public statement or publication of information by the regulatory supervisor
for the administrator of LIBOR announcing that LIBOR with respect to such
currency is no longer representative.”

“ ‘Benchmark Transition Start Date’ means (a) in the case of a Benchmark
Transition Event, the earlier of (i) the applicable Benchmark Replacement Date
and (ii) if such Benchmark Transition Event is a public statement or publication
of information of a prospective event, the 90th day prior to the expected date
of such event as of such public statement or publication of information (or if
the expected date of such prospective event is fewer than 90 days after such
statement or publication, the date of such statement or publication) and (b) in
the case of an Early Opt-in Election, the date specified by the Administrative
Agent or the Required Lenders, as applicable, by notice to the Company, the
Administrative Agent (in the case of such notice by the Required Lenders) and
the Lenders.”

“ ‘Benchmark Unavailability Period’ means, with respect to all Loans denominated
in a given currency, if a Benchmark Transition Event and its related Benchmark
Replacement Date have occurred with respect to LIBOR and solely to the extent
that LIBOR has not been replaced with a Benchmark Replacement with respect to
Loans denominated in such currency, the period (x) beginning at the time that
such Benchmark Replacement Date has occurred if, at such time, no Benchmark
Replacement has

 

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replaced LIBOR for all purposes hereunder with respect to Loans denominated in
such currency in accordance with this Section and (y) ending at the time that a
Benchmark Replacement has replaced LIBOR for all purposes hereunder with respect
to Loans denominated in such currency pursuant to this Section.”

“ ‘Early Opt-in Election’ means the occurrence of:

 

  (1)

(i) a determination by the Administrative Agent or (ii) a notification by the
Required Lenders to the Administrative Agent (with a copy to the Company) that
the Required Lenders have determined that syndicated credit facilities
denominated in a given currency being executed at such time, or that include
language similar to that contained in this Section are being executed or
amended, as applicable, to incorporate or adopt a new benchmark interest rate to
replace LIBOR with respect to such currency, and

 

  (2)

(i) the election by the Administrative Agent or (ii) the election by the
Required Lenders to declare that an Early Opt-in Election has occurred and the
provision, as applicable, by the Administrative Agent of written notice of such
election to the Company and the Lenders or by the Required Lenders of written
notice of such election to the Administrative Agent.”

“ ‘Relevant Governmental Body’ means, with respect to any given Benchmark
Replacement, (a) the central bank for the currency in which such Benchmark
Replacement is denominated or any central bank or other supervisor which is
responsible for supervising either (i) such Benchmark Replacement or (ii) the
administrator of such Benchmark Replacement or (b) any working group or
committee officially endorsed or convened by (i) the central bank for the
currency in which such Benchmark Replacement is denominated, (ii) any central
bank or other supervisor that is responsible for supervising either (A) such
Benchmark Replacement or (B) the administrator of such Benchmark Replacement,
(iii) a group of those central banks or other supervisors or (iv) the Financial
Stability Board or any part thereof.”

“ ‘Unadjusted Benchmark Replacement’ means, with respect to a given Benchmark
Replacement, such Benchmark Replacement excluding the Benchmark Replacement
Adjustment for such Benchmark Replacement.”

(f)    Section 1.1 of the Credit Agreement is hereby amended by deleting the
definition of “Replacement Rate.”

(g)    The second proviso to Section 2.1(a) of the Credit Agreement is hereby
amended by deleting such proviso in its entirety and replacing it with the
following:

“provided, however, that (A) the Company Sublimit and the Designated Borrower
Sublimit imposed by this Section shall remain in full force and effect until
such time that the Borrowers notify the Administrative Agent that such Company
Sublimit or Designated Borrower Sublimit, as applicable, has been modified or
terminated (subject to any applicable consent required by clause (C) below) by
delivering to the Administrative Agent a Sublimit Notice substantially in the
form attached hereto as Exhibit L (a “Sublimit Notice”), it being understood
that any reduction or termination of a Designated Borrower Sublimit with respect
to a Designated Borrower shall only be effective if, after giving effect
thereto, the aggregate principal amount of all outstanding Loans payable by, and
Letters of Credit issued for the account of, such Designated Borrower shall be
less than the Designated Borrower Sublimit applicable to such Designated
Borrower after giving effect to such reduction or termination, (B) in the event
the Company Sublimit or a Designated Borrower Sublimit is terminated, such
Company Sublimit or Designated Borrower Sublimit, as applicable,

 

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may (subject to any applicable consent required by clause (C) below, and so long
as such Designated Borrower has not been terminated pursuant to Section 2.9(e))
be reinstated at any time by the Borrowers by delivering to the Administrative
Agent a Sublimit Notice and (C) any increase to, or reinstatement of, any
Designated Borrower Sublimit shall require the consent of the Administrative
Agent, which consent shall not be unreasonably withheld, conditioned or delayed
(it being understood that, in the case of any Designated Borrower that is a
Foreign Subsidiary, the Administrative Agent shall, prior to granting such
consent, notify the Lenders providing any portion of the applicable Designated
Borrower Sublimit of the request under such Sublimit Notice, and if any such
Lender informs the Administrative Agent in writing that any Applicable Law or
applicable lending guideline or directive of, or applicable to, such Lender
would result in such Lender not being permitted to provide its portion of the
applicable Designated Borrower Sublimit (or increase thereof), then the
Administrative Agent shall be deemed to have a reasonable basis for withholding
consent).”

(h)    Section 2.9(b) of the Credit Agreement is hereby amended by adding “and
the Designated Borrower Sublimit applicable thereto” immediately after the
phrase “to the Company and the Lenders specifying the effective date upon which
such Applicant Borrower shall constitute a Designated Borrower for purposes
hereof” in the third sentence of such section.

(i)    Section 4.10(a) of the Credit Agreement is hereby amended by deleting the
phrase “Replacement Rate” in the first sentence of such section and replacing it
with “Benchmark Replacement.”

(j)    Section 4.10(c) of the Credit Agreement is hereby amended by deleting
such section in its entirety and replacing it with the following:

“(c)    Alternative Rate of Interest.

(i)    Benchmark Replacement. Notwithstanding anything to the contrary herein or
in any other Loan Document, upon the occurrence of a Benchmark Transition Event
or an Early Opt-in Election, as applicable, the Administrative Agent and the
Company may amend this Agreement to replace LIBOR with respect to any applicable
currency with one or more Benchmark Replacements, as applicable (it being
understood that all Loans denominated in a given currency for which LIBOR is
being replaced shall be subject to the same Benchmark Replacement). Any such
amendment with respect to a Benchmark Transition Event will become effective at
5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has
posted such proposed amendment to all Lenders and the Company so long as the
Administrative Agent has not received, by such time, written notice of objection
to such amendment from Lenders comprising the Required Lenders. Any such
amendment with respect to an Early Opt-in Election will become effective on the
date that Lenders comprising the Required Lenders have delivered to the
Administrative Agent written notice that such Required Lenders accept such
amendment. No replacement of LIBOR with a Benchmark Replacement pursuant to this
Section will occur prior to the applicable Benchmark Transition Start Date.

(ii)    Benchmark Replacement Conforming Changes. In connection with the
implementation of a Benchmark Replacement, the Administrative Agent will have
the right, in consultation with the Company, to make Benchmark Replacement
Conforming Changes from time to time and, notwithstanding

 

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anything to the contrary herein or in any other Loan Document, any amendments
implementing such Benchmark Replacement Conforming Changes will become effective
without any further action or consent of any other party to this Agreement.

(iii)    Notices; Standards for Decisions and Determinations. The Administrative
Agent will promptly notify the Company and the Lenders of (i) any occurrence of
a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its
related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the
implementation of any Benchmark Replacement, (iii) the effectiveness of any
Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion
of any Benchmark Unavailability Period. Any determination, decision or election
that may be made by the Administrative Agent or Lenders pursuant to this
Section, including any determination with respect to a tenor, rate or adjustment
or of the occurrence or non-occurrence of an event, circumstance or date and any
decision to take or refrain from taking any action, will be conclusive and
binding absent manifest error and may be made in its or their sole discretion
and without consent from any other party hereto, except, in each case, as
expressly required pursuant to this Section.

(iv)    Benchmark Unavailability Period. Upon the Company’s receipt of notice of
the commencement of a Benchmark Unavailability Period, the Company may revoke
any request for a borrowing of, conversion to or continuation of LIBOR Rate
Loans subject to such Benchmark Unavailability Period to be made, converted or
continued during any Benchmark Unavailability Period and, failing that, (i) in
the case of a request for borrowing of, conversion to or continuation of Loans
denominated in Dollars, the Company will be deemed to have converted any such
request into a request for a Borrowing of or conversion to Base Rate Loans and
(ii) in the case of a request for borrowing of, conversion to or continuation of
Loans denominated in an Alternative Currency, the Borrowers will be deemed to
have converted any such request into a request for a Borrowing of or conversion
to Base Rate Loans denominated in Dollars. During any Benchmark Unavailability
Period, the component of Base Rate based upon LIBOR will not be used in any
determination of Base Rate.

(k)    Section 13.2 of the Credit Agreement is hereby amended by deleting
“Replacement Rate” in clause (vi) and replacing such phrase with “Benchmark
Replacement.”

(l)    Section 13.2 of the Credit Agreement is hereby amended by adding “or
(subject to clause (C) of the second proviso of Section 2.1(a)) the Designated
Borrower Sublimit” immediately after the phrase “the Company Sublimit” in the
last paragraph of such section.

(m)    Schedule 1.1(b) to the Credit Agreement is replaced with a revised
Schedule 1.1(b) attached hereto as Exhibit A to this Amendment, which such
Schedule 1.1(b) reflects the Commitments of all the Lenders and the L/C Fronting
Commitments of all the Issuing Lenders upon the effectiveness of this Amendment.

 

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(n)    Exhibit J to the Credit Agreement is replaced with a revised Exhibit J
attached hereto as Exhibit B to this Amendment, which such Exhibit J reflects
the Form of Designated Borrower Notice.

(o)    Exhibit L to the Credit Agreement is replaced with a revised Exhibit L
attached hereto as Exhibit C to this Amendment, which such Exhibit L reflects
the Form of Sublimit Notice.

3.    Commitment Adjustments. Notwithstanding anything to the contrary in the
Credit Agreement, each party hereto agrees (i) that solely with respect to any
assignments required or desired to effectuate the purposes set forth in this
Amendment, such assignments shall be deemed to be made in requisite amounts
among the Lenders and from each Lender to each other Lender, with the same force
and effect as if such assignments were evidenced by any applicable Assignment
and Assumptions under the Credit Agreement and (ii) to any adjustments to be
made to the Register to effectuate such reallocations and assignments. In
connection therewith, any reallocation of Commitments among the applicable
Lenders resulting from such adjustments, and any reallocation among the
applicable Lenders of outstanding Loans resulting from such adjustments, shall,
in each case, occur on the effective date of this Amendment in connection with
this Amendment, and the Administrative Agent may make such adjustments between
and among the Lenders in consultation with the Borrowers as are reasonably
necessary to effectuate such adjustments, so that the Commitments are as set
forth on the revised Schedule 1.1(b) attached hereto as Exhibit A as of the
effectiveness of this Amendment. Notwithstanding anything to the contrary in
Section 13.10(b) of the Credit Agreement or this Amendment, (i) no other
documents or instruments, including any Assignment and Assumption, shall be
executed in connection with these assignments (all of which requirements are
hereby waived), (ii) no fees shall be required to be paid to the Administrative
Agent in connection with such assignments, and (iii) such assignments shall be
deemed to be made with all applicable representations, warranties and covenants
as if evidenced by an Assignment and Assumption; in each case, without limiting
the requirement that each Lender shall be an Eligible Assignee.

4.    Effectiveness. This Amendment shall become effective on the date when the
Administrative Agent or Wells Fargo Securities, LLC (“Wells Fargo Securities”),
as applicable, shall have received (i) counterparts of this Amendment executed
by the Borrowers, the Guarantor and all of the Lenders and (ii) payment of all
fees, costs and expenses set forth in Sections 8(a) and (b) of this Amendment.

5.    Limited Effect. Except as expressly provided herein, the Credit Agreement
and the other Loan Documents shall remain unmodified and in full force and
effect. This Amendment shall not be deemed (a) to be a waiver of, or consent to,
or a modification or amendment of, any other term or condition of the Credit
Agreement or any other Loan Document other than as expressly set forth herein,
(b) to prejudice any right or rights which the Administrative Agent or the
Lenders may now have or may have in the future under or in connection with the
Credit Agreement or the other Loan Documents or any of the instruments or
agreements referred to therein, as the same may be amended, restated,
supplemented or modified from time to time, or (c) to be a commitment or any
other undertaking or expression of any willingness to engage in any further
discussion with the Company, any of its Subsidiaries or any other Person with
respect to any other waiver, amendment, modification or any other change to the
Credit Agreement or the Loan Documents or any rights or remedies arising in
favor of the Lenders or the Administrative Agent, or any of them, under or with
respect to any such documents. References in the Credit Agreement to “this
Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”,
“hereof” or other words of like import) and in any Loan Document to the “Credit
Agreement” shall be deemed to be references to the Credit Agreement as modified
hereby.

 

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6.    Representations and Warranties. Each Borrower and Guarantor represents and
warrants that (a) it has the corporate power and authority to make, deliver and
perform this Amendment, (b) it has taken all necessary corporate or other action
to authorize the execution, delivery and performance of this Amendment, (c) this
Amendment has been duly executed and delivered on behalf of such Person,
(d) this Amendment constitutes a legal, valid and binding obligation of such
Person, enforceable against it in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law), (e) each of the
representations and warranties contained in Article VI of the Credit Agreement
are true and correct in all material respects on and as of the date hereof with
the same effect as if made on and as of the date hereof, except for any
representation and warranty made as of an earlier date, which representation and
warranty shall remain true and correct in all material respects as of such
earlier date and (f) no Default or Event of Default has occurred and is
continuing as of the date hereof or after giving effect hereto.

7.    Acknowledgement and Reaffirmation. By their execution hereof, each
Borrower and the Guarantor hereby expressly (a) consents to this Amendment and
to the amendments to the Credit Agreement set forth herein, (b) acknowledges
that the covenants, representations, warranties and other obligations set forth
in the Credit Agreement, the Notes and the other Loan Documents to which such
Borrower or the Guarantor is a party remain in full force and effect (it being
understood and agreed that to the extent any such covenants, representations,
warranties or other obligations are expressly modified herein, such covenants,
representations, warranties or obligations shall continue in full force and
effect as expressly modified herein) and (c) acknowledges and agrees that this
Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents.

8.    Costs, Expenses and Taxes. The Company agrees to pay:

(a)     in accordance with Section 13.3 of the Credit Agreement, but subject to
the provisions set forth in Section 5 of that certain commitment letter dated as
of March 4, 2020, from Wells Fargo and the other commitment parties thereto to
the Company, all reasonable and invoiced out-of-pocket costs and expenses of the
Administrative Agent and Wells Fargo Securities in connection with the
preparation, execution, delivery, administration of this Amendment and the other
instruments and documents to be delivered hereunder, including, without
limitation, the reasonable and invoiced fees and out-of-pocket expenses of
counsel for the Administrative Agent and Wells Fargo Securities; and

(b)     all fees payable pursuant to that certain letter agreement by and among
the Company, Wells Fargo, Wells Fargo Securities and Citigroup Global Markets
Inc., dated as of March 4, 2020.

9.    Execution in Counterparts. This Amendment may be executed by one or more
of the parties to this Amendment on any number of separate counterparts, and all
of said counterparts taken together shall be deemed to constitute one and the
same instrument. Delivery of an executed signature page of this Amendment by
facsimile or electronic (pdf) transmission shall be effective as delivery of a
manually executed counterpart hereof.

10.    Governing Law. This Amendment and the rights and obligations of the
parties under this Amendment shall be governed by, and construed and interpreted
in accordance with, the law of the state of New York (including Section 5-1401
and Section 5-1402 of the General Obligations Law of the State of New York),
without reference to any other conflicts or choice of law principles thereof.

 

9

--------------------------------------------------------------------------------

11.    Entire Agreement. This Amendment is the entire agreement, and supersedes
any prior agreements and contemporaneous oral agreements, of the parties
concerning its subject matter.

12.    Successors and Assigns. This Amendment shall be binding on and inure to
the benefit of the parties hereto and their heirs, beneficiaries, successors and
permitted assigns.

[Signature Pages Follow]

 

10

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their duly authorized officers or representatives, all as of the day and year
first written above.

 

BORROWERS: BLACKROCK, INC., as Borrower and Guarantor By:  

/s/ Philippe Matsumoto

Name:   Philippe Matsumoto Title:   Managing Director and Treasurer BLACKROCK
GROUP LIMITED, as Designated Borrower By:  

/s/ Colin Thomson

Name:   Colin Thomson Title:   Managing Director / Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

AGENT AND LENDERS:

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent, Swingline Lender, Issuing Lender, L/C Agent and Lender

By:  

/s/ Megan Griffin

Name:   Megan Griffin Title:   Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

CITIBANK, N.A., as Lender, Swingline Lender and Issuing Lender By:  

/s/ Maureen Maroney

Name:   Maureen Maroney Title:   Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BANK OF AMERICA, N.A., as Lender By:  

/s/ Alexandra Knights

Name:   Alexandra Knights Title:   Associate

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BANK OF CHINA, NEW YORK BRANCH, as Lender By:  

/s/ Raymond Qiao

Name:   Raymond Qiao Title:   Executive Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BARCLAYS BANK PLC, as Lender By:  

/s/ Craig J. Malloy

Name:   Craig J. Malloy Title:   Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

CREDIT SUISSE AG, Cayman Islands Branch,

as Lender

By:  

/s/ Doreen Barr

Name:   Doreen Barr Title:   Authorized Signatory By:  

/s/ Komal Shah

Name:   Komal Shah Title:   Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

DEUTSCHE BANK AG NEW YORK BRANCH,

as Lender

By:  

/s/ Annie Chung

Name:   Annie Chung Title:   Director By:  

/s/ Ming K Chu

Name:   Ming K Chu Title:   Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

GOLDMAN SACHS BANK USA, as Lender By:  

/s/ Ryan Durkin

Name:   Ryan Durkin Title:   Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

HSBC BANK USA, NATIONAL ASSOCIATION, as Lender By:  

/s/ Kieran Patel

Name:   Kieran Patel Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH, as Lender By:
 

/s/ Letian Yan

Name:   Letian Yan Title:   Relationship Manager By:  

/s/ Jeffrey Roth

Name:   Jeffrey Roth Title:   Executive Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, N.A., as Lender By:  

/s/ Diego E Nunes

Name:   Diego E Nunes Title:   Executive Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

MORGAN STANLEY BANK, N.A., as Lender By:  

/s/ David White

Name:   David White Title:   Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BNP PARIBAS, as Lender By:  

/s/ Marguerite L. Lebon

Name:   Marguerite L. Lebon Title:   Vice President By:  

/s/ Laurent Vanderzyppe

Name:   Laurent Vanderzyppe Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

MIZUHO BANK, LTD., as Lender By:  

/s/ Donna DeMagistris

Name:   Donna DeMagistris Title:   Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

ROYAL BANK OF CANADA, as Lender

By:

 

/s/ Alex Figueroa

Name:

 

Alex Figueroa

Title:

 

Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

STATE STREET BANK AND TRUST COMPANY,
as Lender

By:  

/s/ Mary H. Carey

Name:   Mary H. Carey Title:   Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

THE BANK OF NEW YORK MELLON,
as Lender

By:  

/s/ Benjamin Goldberg

Name:   Benjamin Goldberg Title:   Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

NOMURA CORPORATE FUNDING AMERICAS, LLC,
as Lender By:  

/s/ Andrew Keith

Name:   Andrew Keith Title:   Executive Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BANCO SANTANDER, S.A., as Lender

By:  

/s/ Pablo Tarrio

Name:   Pablo Tarrio Title:   Attorney By:  

/s/ Laura Castán

Name:   Laura Castán Title:   Attorney

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender

By:  

/s/ Gordon Yip

Name:   Gordon Yip Title:   Director By:  

/s/ Rose Mary Perez

Name:   Rose Mary Perez Title:   Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

SOCIETE GENERALE, as Lender

By:  

/s/ Robert Roberto

Name:   Robert Roberto Title:   Managing Director, Chairman, Financial
Institutions Group

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

NATWEST MARKETS PLC, as Lender

By:  

/s/ Fred J. Matt

Name:   Fred J. Matt Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

MUFG BANK, LTD., as Lender

By:  

/s/ Rajiv Ranjan

Name:   Rajiv Ranjan Title:   Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED, as Lender

By:  

/s/ Robert Grillo

Name:   Robert Grillo Title:   Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, as Lender

By:  

/s/ Brian Crowley

Name:   Brian Crowley Title:   Managing Director By:  

/s/ Miriam Trautmann

Name:   Miriam Trautmann Title:   Senior Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

ING BANK N.V., as Lender By:  

/s/ L.G. Humme

Name:   L.G. Humme Title:   Director By:  

/s/ J.D. Dijkstra

Name:   J.D. Dijkstra Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

JEFFERIES LEVERAGED CREDIT PRODUCTS, LLC, as Lender

By:  

/s/ Mark Sahler

Name:   Mark Sahler Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

NATIXIS LONDON BRANCH, as Lender

By:  

/s/ Christine Coudray

Name:   Christine Coudray Title:   Global Head of Asset Management Coverage

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

STANDARD CHARTERED BANK, as Lender

By:  

/s/ James Beck

Name:   James Beck Title:   Associate Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

SUMITOMO MITSUI BANKING CORPORATION, as a Lender and as the Japanese Yen Lender

By:  

/s/ Carl Adams

Name:   Carl Adams Title:   General Manager

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

THE TORONTO-DOMINION BANK NEW YORK BRANCH, as Lender By:  

/s/ Maria Macchiaroli

Name:   Maria Macchiaroli Title:   Authorized Signatory

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

U.S. BANK NATIONAL ASSOCIATION, as Lender

By:  

/s/ Barry K. Chung

Name:   Barry K. Chung Title:   Sr. Vice President

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

BROWN BROTHERS HARRIMAN & CO., as Lender

By:  

/s/ Elizabeth Prickett

Name:   Elizabeth Prickett Title:   Managing Director

 

BlackRock, Inc.

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

Signature Pages

--------------------------------------------------------------------------------

Exhibit A

(to Amendment No. 9 to Five-Year Revolving Credit Agreement)

Schedule 1.1(b)

(to Five-Year Revolving Credit Agreement)

Commitments

 

     Revolving Credit
Commitment     

Revolving

Commitment

Percentage

   

USD Revolving
Credit

Commitment

    

USD

Revolving

Commitment

Percentage

   

L/C Fronting

Commitment

    

Swingline

Commitment

 

Wells Fargo Bank, National Association

   $ 200,000,000.00        5.4201 %      —          —       $ 66,666,667.00     
$ 200,000,000.00  

Citibank, N.A.

   $ 200,000,000.00        5.4201 %      —          —       $ 66,666,667.00     
$ 200,000,000.00  

Bank of America, N.A.

   $ 200,000,000.00        5.4201 %      —          —         

Bank of China, New York Branch

     —          $ 200,000,000.00        64.5161 %      

Barclays Bank PLC

   $ 200,000,000.00        5.4201 %      —          —         

Credit Suisse AG, Cayman Islands Branch

   $ 200,000,000.00        5.4201 %      —          —         

Deutsche Bank AG New York Branch

   $ 200,000,000.00        5.4201 %      —          —         

Goldman Sachs Bank USA

   $ 200,000,000.00        5.4201 %      —          —         

HSBC Bank USA, National Association

   $ 200,000,000.00        5.4201 %      —          —         

Industrial and Commercial Bank of China Limited, New York Branch

   $ 200,000,000.00        5.4201 %      —          —         

JPMorgan Chase Bank, N.A.

   $ 200,000,000.00        5.4201 %      —          —          $ 200,000,000.00
 

Morgan Stanley Bank, N.A.

   $ 200,000,000.00        5.4201 %      —          —         

BNP Paribas

   $ 131,000,000.00        3.5501 %      —          —         

Mizuho Bank, Ltd.

   $ 131,000,000.00        3.5501 %      —          —         

Royal Bank of Canada

   $ 131,000,000.00        3.5501 %      —          —         

State Street Bank and Trust Company

   $ 131,000,000.00        3.5501 %      —          —         

The Bank of New York Mellon

   $ 131,000,000.00        3.5501 %      —          —         

Nomura Corporate Funding Americas, LLC

     —          $ 110,000,000.00        35.4839 %      

Credit Agricole Corporate & Investment Bank

   $ 95,000,000.00        2.5745 %           

Banco Santander, S.A.

   $ 80,000,000.00        2.1680 %      —          —         

Societe Generale

   $ 80,000,000.00        2.1680 %      —          —         

NatWest Markets Plc

   $ 80,000,000.00        2.1680 %      —          —         

MUFG Bank, Ltd.

   $ 65,000,000.00        1.7615 %      —          —         

U.S. Bank National Association

   $ 55,000,000.00        1.4905 %           

Australia and New Zealand Banking Group Limited

   $ 45,000,000.00        1.2195 %      —          —         

Banco Bilbao Vizcaya Argentaria, S.A., New York Branch

   $ 45,000,000.00        1.2195 %      —          —         

ING Bank N.V.

   $ 45,000,000.00        1.2195 %      —          —         

Jefferies Leveraged Credit Products, LLC

   $ 45,000,000.00        1.2195 %      —          —         

Natixis London Branch

   $ 45,000,000.00        1.2195 %      —          —         

Standard Chartered Bank

   $ 45,000,000.00        1.2195 %      —          —         

Sumitomo Mitsui Banking Corporation

   $ 45,000,000.00        1.2195 %      —          —         

The Toronto-Dominion Bank
New York Branch

   $ 45,000,000.00        1.2195 %      —          —         

Brown Brothers Harriman & Co.

   $ 20,000,000.00        0.5420 %      —          —         

Total

   $ 3,690,000,000.00        100.0000 %    $ 310,000,000.00        100.0000 %   
$ 133,333,334.00      $ 600,000,000.00  

Total of Revolving Credit Commitment plus USD Revolving Credit Commitment:

   $ 4,000,000,000.00               

 

BlackRock, Inc.

Exhibit A

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

--------------------------------------------------------------------------------

Exhibit B

(to Amendment No. 9 to Five-Year Revolving Credit Agreement)

Exhibit J

(to Five-Year Revolving Credit Agreement)

FORM OF

DESIGNATED BORROWER NOTICE

Date:                             ,             

To: BlackRock, Inc.

The Lenders party to the Credit Agreement referred to below

Ladies and Gentlemen:

This Designated Borrower Notice is made and delivered pursuant to Section 2.9(b)
of the Five-Year Revolving Credit Agreement dated as of March 10, 2011 (as
amended, restated, supplemented or otherwise modified, the “Credit Agreement”),
by and among BlackRock, Inc., a Delaware corporation (the “Company”) and certain
Subsidiaries of the Company, as Borrowers, the Lenders who are or may become a
party thereto, and Wells Fargo Bank, National Association, as Administrative
Agent, Swingline Lender, Issuing Lender and L/C Agent. Capitalized terms used
herein and not defined herein shall have the meanings assigned thereto in the
Credit Agreement.

The Administrative Agent hereby notifies the Company and the Lenders that
effective as of the date hereof                              (the “New
Borrower”) shall be a Designated Borrower and may receive Loans and have Letters
of Credit issued for its account on the terms and conditions set forth in the
Credit Agreement.

The Administrative Agent hereby notifies the Company and the Lenders that the
Designated Borrower Sublimit for the New Borrower shall be $             .

[Signature Page Follows]

 

BlackRock, Inc.

Exhibit B

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

--------------------------------------------------------------------------------

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent

By:  

 

Name:  

 

Title:  

 

 

BlackRock, Inc.

Exhibit B

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

--------------------------------------------------------------------------------

Exhibit C

(to Amendment No. 9 to Five-Year Revolving Credit Agreement)

Exhibit L

(to Five-Year Revolving Credit Agreement)

FORM OF

SUBLIMIT NOTICE

Dated as of:                             

Wells Fargo Bank, National Association,

 as Administrative Agent

MAC D1109-019

1525 West W.T. Harris Blvd.

Charlotte, NC 28262

Attention of: Syndication Agency Services

Ladies and Gentlemen:

This irrevocable Sublimit Notice is delivered to you pursuant to Section 2.1(a)
of the Five-Year Revolving Credit Agreement, dated as of March 10, 2011 (as
amended, restated, supplemented or otherwise modified, the “Credit Agreement”),
by and among BlackRock, Inc., a Delaware corporation (the “Company”) and certain
Subsidiaries of the Company, as Borrowers, the Lenders who are or may become a
party thereto, and Wells Fargo Bank, National Association, as Administrative
Agent, Swingline Lender, Issuing Lender and L/C Agent. Capitalized terms used
herein and not defined herein shall have the meanings assigned thereto in the
Credit Agreement.

The Company and [                    , as [a] Designated Borrower[s] under the
Credit Agreement hereby notify you that:2

[Option 1: To be included only if either the Company Sublimit or the Designated
Borrower Sublimit is being modified, terminated or reinstated.

 

  1.

The [Company Sublimit][Designated Borrower Sublimit with respect to
[                    ]3] described in Section 2.1(a) of the Credit Agreement is
hereby [modified from $              to $             ][terminated][reinstated
in the amount of $             ]. [Such [increase][reinstatement] of the
Designated Borrower Sublimit shall not be effective unless and until the
Administrative Agent has countersigned this notice below.]4

 

  2.

The [Company Sublimit][Designated Borrower Sublimit with respect
[                    ]5] described in Section 2.1(a) of the Credit Agreement
remains $             .]

 

2 

The Company and all Designated Borrowers in existence as of the date hereof must
execute the Sublimit Notice.

3 

Insert name of Designated Borrower.

4 

Second sentence only to be excluded in the event a Designated Borrower Sublimit
is being decreased.

5 

Insert name of Designated Borrower.

 

BlackRock, Inc.

Exhibit B

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

--------------------------------------------------------------------------------

[Option 2: To be included only if both the Company Sublimit and the Designated
Borrower Sublimit are being modified, terminated and/or reinstated.

 

  1.

The Company Sublimit described in Section 2.1(a) of the Credit Agreement is
[modified from $              to $             ][terminated][reinstated in the
amount of $             ].

 

  2.

The Designated Borrower Sublimit of [                    ]6 described in
Section 2.1(a) of the Credit Agreement is [modified from $              to
$             ][terminated][reinstated in the amount of $             ]. [Such
[increase][reinstatement] of the Designated Borrower Sublimit shall not be
effective unless and until the Administrative Agent has countersigned this
notice below.]7

[Signature Page Follows]

 

6 

Insert name of Designated Borrower.

7 

Second sentence only to be excluded in the event a Designated Borrower Sublimit
is being decreased.

 

BlackRock, Inc.

Exhibit B

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the undersigned has executed this Sublimit Notice as of the
day and year first written above.

 

BLACKROCK, INC.

By:  

 

Name:  

 

Title:  

 

[DESIGNATED BORROWER(S)]8

By:  

 

Name:  

 

Title:  

 

[Consented to and Accepted:

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,   as Administrative Agent  

By:  

 

  Name:  

 

  Title:  

 

  ]9

 

8 

All Designated Borrowers in existence as of the date hereof must execute the
Sublimit Notice.

9 

To be included for any proposed increase in or reinstatement of any Designated
Borrower Sublimit.

 

BlackRock, Inc.

Exhibit B

Amendment No. 9 to Five-Year Revolving Credit Agreement (2020)