Exhibit 10.50

EXECUTION COPY

CONSENT TO TERM LOAN AGREEMENT

This CONSENT TO TERM LOAN AGREEMENT (this “Consent”) is entered into as of
December 22, 2010 by and among BURLINGTON MORELOS, S.A DE C.V., a Mexican stock
limited liability corporation (the “Borrower”), the other Credit Parties
signatory hereto, GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation,
for itself and as Agent (“Agent”), and the other Lenders signatory
hereto.  Unless otherwise specified herein, capitalized terms used in this
Consent shall have the meanings ascribed to them in the Term Loan Agreement (as
hereinafter defined).
 
R E C I T A L S:
 
WHEREAS, Borrower, the Agent and the Lenders entered into the Term Loan
Agreement dated as of December 29, 2006 (as amended, supplemented, restated or
otherwise modified from time to time, the “Term Loan Agreement”);
 
WHEREAS, the Borrower has requested that the Lenders to the Term Loan Agreement
consent to a specified asset sale as set forth herein;
 
NOW, THEREFORE, in consideration of the premises contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
 
1           Consent.  Each of the Lenders signatory hereto hereby (i) consents
to the sale by Apparel Fabrics Properties, Inc. to MeadWestvaco of all
merchantable pine and hardwood trees to be cut and removed from that certain
real property identified as a tract labeled as Tax Map Number G PIN NO.
2446-30-7636 containing 453.0357 acres, more or less, lying off of US Business
Route 29 in Pittsylvania County, Virginia, (ii) acknowledges and agrees that the
Borrower is not required to repay the Obligations from the proceeds of such
asset sale and (iii) authorizes and directs the Agent to execute and deliver or
to direct the execution and delivery of, as applicable, the Partial Certificate
of Satisfaction in connection with such asset sale, substantially in the form
attached as Exhibit I hereto.
 
2           Representations and Warranties.  In order to induce Agent and the
Lenders to enter into this Consent, Borrower and each other Credit Party
represents and warrants to Agent and each Lender (which representations and
warranties shall survive the execution and delivery of this Consent), that:
 
(a)           the execution, delivery and performance by each Credit Party of
this Consent has been duly authorized by all necessary corporate and partnership
action and this Consent is a legal, valid and binding obligation of such Credit
Party enforceable against such Credit Party in accordance with its terms; and
 
 
 

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(b)           upon the effectiveness of this Consent, all of the representations
and warranties contained in the Term Loan Agreement and in the other Loan
Documents (other than those which speak expressly only as of an earlier date)
are true and correct in all material respects on and as of the date of the
effectiveness of this Consent after giving effect to this Consent and the
transactions contemplated hereby.
 
3           Conditions to Effectiveness.  This Consent shall be effective on the
date when this Consent shall have been duly executed and delivered by Borrower,
each other Credit Party party hereto, Agent and the Required Lenders.
 
4           Miscellaneous.
 
4.1           Effect; Ratification.
 
(a)           Except as specifically set forth above, the Term Loan Agreement
and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed.  Without limiting the generality of the
foregoing, each Credit Party reaffirms its guaranty of the Obligations and the
Liens securing those guaranties.
 
(b)           The execution, delivery and effectiveness of this Consent shall
not operate as a waiver of any right, power or remedy of Agent or any Lender
under the Term Loan Agreement or any other Loan Document, nor constitute
amendment of any provision of the Term Loan Agreement or any other Loan
Document, except as specifically set forth herein.  Upon the effectiveness of
this Consent, each reference in the Term Loan Agreement to “this Agreement”,
“hereunder”, “hereof”, “herein” or words of similar import shall mean and be a
reference to the Term Loan Agreement, as amended hereby.
 
(c)           Borrower acknowledges and agrees that the amendments and waivers
set forth herein are effective solely for the purposes set forth herein and that
the execution and delivery by Agent of this Consent shall not be deemed (i)
except as expressly provided in this Consent, to be a consent to any amendment,
waiver or modification of any term or condition of the Term Loan Agreement or of
any other Loan Document, (ii) to create a course of dealing or otherwise
obligate Agent or Lenders to forbear, waive, consent or execute similar
amendments under the same or similar circumstances in the future, or (iii) to
amend, prejudice, relinquish or impair any right of Agent or Lenders to receive
any indemnity or similar payment from any Person or entity as a result of any
matter arising from or relating to this Consent.
 
4.2           Counterparts and Signatures by Fax.  This Consent may be executed
in any number of counterparts, each such counterpart constituting an original
but all together one and the same instrument.  Any party delivering an executed
counterpart of this Consent by fax shall also deliver an original executed
counterpart, but the failure to do so shall not affect the validity,
enforceability or binding effect of this Consent.
 
4.3           Severability.  In case any provision in or obligation under this
Consent shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.
 
 
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4.4           Loan Document.  This Consent shall constitute a Loan Document.
 
4.5           GOVERNING LAW.  THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL, IN ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED
STATES OF AMERICA.
 

 
[Signature Pages Follow]
 
 
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IN WITNESS WHEREOF, the parties hereto have executed this Consent as of the date
first above written.
 

 
BORROWER:
 
BURLINGTON MORELOS, S.A DE C.V.
           
By:
/s/ Neil W. Koonce     Name: Neil W. Koonce     Title: Vice President  

 
 
[Signature Page to Consent to Term Loan Agreement]
 
 

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OTHER CREDIT PARTIES:
 
PARRAS CONE DE MÉXICO, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: Director  

 

 
ADMINISTRACIÓN PARRAS CONE, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: Director  

 

 
MANUFACTURAS PARRAS CONE, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: Director  

 

 
BURLINGTON YECAPIXTLA, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer  

 

 
CONE DENIM YECAPIXTLA, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer  

 

 
CASIMIRES BURLMEX, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer  

 

 
SERVICIOS BURLMEX, S.A. DE C.V.
           
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer  

 
 
[Signature Page to Consent to Term Loan Agreement]
 
 

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APPAREL FABRICS PROPERTIES, INC.
BURLINGTON INDUSTRIES V, LLC
CONE ADMINISTRATIVE AND SALES LLC
CONE INTERNATIONAL HOLDINGS II, INC.
INTERNATIONAL TEXTILE GROUP ACQUISITION GROUP LLC
BURLINGTON WORLDWIDE INC.
CONE DENIM WHITE OAK LLC
CONE INTERNATIONAL HOLDINGS, INC.
CONE ACQUISITION LLC
WLR CONE MILLS IP, INC.
                   
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer            
VALENTEC WELLS, LLC
By: International Textile Group, Inc.,
its sole member
                    By: /s/ Craig J. Hart     Name: Craig J. Hart     Title: VP
& Treasurer  

 

[Signature Page to Consent to Term Loan Agreement]
 
 

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INTERNATIONAL TEXTILE GROUP, INC.
BURLINGTON INDUSTRIES LLC
CONE JACQUARDS LLC
CONE DENIM LLC
CARLISLE FINISHING LLC
SAFETY COMPONENTS FABRIC
   TECHNOLOGIES, INC.
                   
By:
/s/ Craig J. Hart     Name: Craig J. Hart     Title: VP & Treasurer            
NARRICOT INDUSTRIES LLC

By: International Textile Group, Inc., its sole member
                    By: /s/ Craig J. Hart     Name: Craig J. Hart     Title: VP
& Treasurer  

 
 
[Signature Page to Consent to Term Loan Agreement]
 
 

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AGENT AND LENDERS:
               
GENERAL ELECTRIC CAPITAL CORPORATION,
as the Agent and a Lender
           
By:
/s/ Donald Cavanagh     Title: Its Duly Authorized Signatory  

 

[Signature Page to Consent to Term Loan Agreement]
 
 

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UBS AG, STAMFORD BRANCH, as a Lender
         
By:
/s/ Irja R. Otsa     Name: Irja R. Otsa     Title: Associate Director          
  By: /s/ Irja R. Otsa     Name: Irja R. Otsa     Title: Associate Director  

 

[Signature Page to Consent to Term Loan Agreement]
 
 

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BANK OF AMERICA, NA, as a Lender
         
By:
/s/ John Yankauskas     Name: John Yankauskas     Title: Sr. Vice President  

 

[Signature Page to Consent to Term Loan Agreement]
 
 

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EXHIBIT I

Form of  Partial Certificate of Satisfaction

[see attached]