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EXHIBIT 10.1

AMENDMENT NO. 2 TO FIVE-YEAR REVOLVING CREDIT AGREEMENT
 
THIS AMENDMENT NO. 2 TO FIVE-YEAR REVOLVING CREDIT AGREEMENT (this “Amendment”)
is dated as of March 28, 2013, 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, and as further amended, restated, supplemented or otherwise modified from
time to time, 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)           Section 1.1 of the Credit Agreement is hereby amended by deleting
the definition of “Maturity Date” in its entirety and replacing it with the
following:
 
“‘Maturity Date’ means the earliest to occur of (a) March 28, 2018 (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).”
 
(b)           The Aggregate Commitments under the Credit Agreement are increased
from $3,785,000,000 prior to the effectiveness of this Amendment to
$3,990,000,000 upon the effectiveness of this Amendment, and 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 upon the effectiveness of this Amendment.
 
For the avoidance of doubt, (i) the amendment set forth in subsection 2(a) 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 and (ii) the amendment
 

 
 

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set forth in subsection 2(b) above shall not constitute a utilization of any
optional increase of the Aggregate Commitments pursuant to Section 2.7 of the
Credit Agreement.
 
(c)           The cover page of the Credit Agreement is hereby amended such that
Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc.  are designated as
additional Joint Lead Arrangers and Joint Bookrunners thereunder.  For the
avoidance of doubt, the parties hereto acknowledge that each of (i) Wells Fargo
Securities, LLC, (ii) Citigroup Global Markets Inc., (iii) Merrill Lynch,
Pierce, Fenner & Smith Incorporated, (iv) Barclays Capital, (v) J.P. Morgan
Securities LLC, (vi) Morgan Stanley Senior Funding, Inc., (vii) Deutsche Bank
Securities Inc. and (viii) HSBC Securities (USA) Inc. shall be named as joint
lead arrangers for the purposes of this Amendment.
 
3.           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 (a) counterparts of this
Amendment executed by the Borrowers, the Guarantor and all of the Lenders and
(b) payment of all fees, costs and expenses set forth in Sections 7(a) and (b)
of this Amendment.
 
4.           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 Borrower, 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.
 
5.           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.
 
6.           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
 

 
 

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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.
 
7.           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 5, 2013 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;
 
(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 5, 2013; and
 
(c)           without duplication of any amount payable pursuant to subparagraph
(b) above, a fee to each Lender whose Commitment is increased (including any new
Lender who did not hold a Commitment prior to this Amendment) as a result
thereof in an amount equal to 0.08% times the amount by which the Commitment of
such Lender on the date of this Amendment exceeds the Commitment of such Lender
in effect prior to the effectiveness of this Amendment.
 
8.           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.
 
9.           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.
 
10.           Entire Agreement.  This Amendment is the entire agreement, and
supersedes any prior agreements and contemporaneous oral agreements, of the
parties concerning its subject matter.
 
11.           Successors and Assigns.  This Amendment shall be binding on and
inure to the benefit of the parties and their heirs, beneficiaries, successors
and permitted assigns.
 
[Signature Pages Follow]
 

 
 

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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/ Amy Engel
   
Name: 
Amy Engel
   
Title: 
Managing Director and Treasurer
 

 
BLACKROCK GROUP LIMITED,
as Designated Borrower
                 
By: 
/s/ James DesMarais
   
Name: 
James DesMarais
   
Title: 
Director
 

 
BLACKROCK HOLDINGS DEUTSCHLAND GMBH,
as Designated Borrower
 
             
By: 
/s/ Peter Lohse
   
Name: 
Peter Lohse
   
Title: 
Geschäftsführer
 

                 
By: 
     
Name: 
     
Title: 
   

 
BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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AGENT AND LENDERS:
     
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Swingline
Lender, Issuing Lender, L/C Agent and Lender
                 
By: 
/s/ Tracy Moosbrugger
   
Name: 
Tracy Moosbrugger
   
Title: 
Managing Director
 

 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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CITIBANK, N.A., as Lender
             
By: 
/s/ Maureen Maroney
   
Name: 
Maureen Maroney
   
Title: 
Authorized Signatory
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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JPMORGAN CHASE BANK, N.A., as Lender
             
By:
/s/ Ayesha Umer
   
Name:
Ayesha Umer
   
Title:
Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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MORGAN STANLEY BANK, N.A., as Lender
             
By: 
/s/ Michael King
   
Name: 
Michael King
   
Title: 
Authorized Signatory
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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BANK OF AMERICA, N.A., as Lender
             
By: 
/s/ Juan S. Agudelo
   
Name: 
Juan S. Agudelo
   
Title: 
Assistant Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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BARCLAYS BANK PLC, as Lender
             
By: 
/s/ Gregory Fishbein
   
Name: 
Gregory Fishbein
   
Title: 
Assistant Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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DEUTSCHE BANK AG NEW YORK BRANCH, as Lender
             
By: 
/s/ Virginia Cosenza
   
Name: 
Virginia Cosenza
   
Title: 
Vice President
                   
By: 
/s/ Ming K. Chu
   
Name: 
Ming K. Chu
   
Title: 
Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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HSBC BANK USA, NATIONAL ASSOCIATION, as Lender
             
By: 
/s/ Stephanie W. Lee
   
Name: 
Stephanie W. Lee
   
Title: 
Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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THE ROYAL BANK OF SCOTLAND plc, as Lender
             
By: 
/s/ Karen Beatty
   
Name: 
Karen Beatty
   
Title: 
Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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UBS AG, STAMFORD BRANCH, as Lender
             
By: 
/s/ Lana Gifas
   
Name: 
Lana Gifas
   
Title: 
Director
     
Banking Products Services, US
           
By: 
/s/ Joselin Fernandes
   
Name: 
Joselin Fernandes
   
Title: 
Associate Director
     
Banking Products Services, US
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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CREDIT SUISSE AG, Cayman Islands Branch,
as Lender
             
By: 
/s/ Doreen Barr
   
Name: 
Doreen Barr
   
Title: 
Director
                   
By: 
/s/ Sanja Gazahi
   
Name: 
Sanja Gazahi
   
Title: 
Associate
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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MIZUHO CORPORATE BANK, LTD., as Lender
             
By: 
/s/ David Lim
   
Name: 
David Lim
   
Title: 
Authorized Signatory
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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GOLDMAN SACHS BANK USA, as Lender
             
By: 
/s/ Mark Walton
   
Name: 
Mark Walton
   
Title: 
Authorized Signatory
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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STATE STREET BANK AND TRUST COMPANY, as Lender
             
By: 
/s/ Karen A. Gallagher
   
Name: 
Karen A. Gallagher
   
Title: 
Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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THE BANK OF NEW YORK MELLON, as Lender
             
By: 
/s/ Joanne Carey
   
Name: 
Joanne Carey
   
Title: 
Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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ROYAL BANK OF CANADA, as Lender
             
By: 
/s/ Greg DeRise
   
Name: 
Greg DeRise
   
Title: 
Authorized Signatory
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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U.S. BANK NATIONAL ASSOCIATION, as Lender
             
By: 
/s/ Barry K. Chung
   
Name: 
Barry K. Chung
   
Title: 
SVP
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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BNP PARIBAS, as Lender
             
By: 
/s/ Kip Testwuide
   
Name: 
Kip Testwuide
   
Title: 
Co-Head of Fixed Income Americas
                   
By: 
/s/ Edward Speal
   
Name:  
Edward Speal
   
Title: 
Managing Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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CREDIT AGRICOLE CORPORATE & INVESTMENT BANK, as Lender
             
By: 
/s/ Charles Kornberger
   
Name: 
Charles Kornberger
   
Title: 
MD
                   
By: 
/s/ Walter J. Buckley
   
Name: 
Walter J. Buckley
   
Title: 
Managing Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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BANCO SANTANDER, S.A., NEW YORK BRANCH, as Lender
             
By: 
/s/ Rita Walz-Cuccioli
   
Name: 
Rita Walz-Cuccioli
   
Title: 
Executive Director
     
Banco Santander, S.A., New York Branch
           
By: 
/s/ Terence Corcoran
   
Name: 
Terence Corcoran
   
Title: 
Senior Vice President
     
Banco Santander, S.A., New York Branch
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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SOCIETE GENERALE, as Lender
             
By: 
/s/ Shelley Yu
   
Name: 
Shelley Yu
   
Title: 
Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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STANDARD CHARTERED BANK, as Lender
             
By: 
/s/ John Fell
   
Name: 
John Fell
   
Title: 
Managing Director & Head of Funds, Americas
                   
By: 
/s/ Robin Francis
   
Name: 
Robin Francis
   
Title: 
Manager
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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SUMITOMO MITSUI BANKING CORPORATION, as a Lender and as the Japanese Yen Lender
             
By: 
/s/ William G. Karl
   
Name: 
William G. Karl
   
Title: 
General Manager
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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NOMURA INTERNATIONAL PLC, as Lender
             
By: 
/s/ Sean P. Kelly
   
Name: 
Sean P. Kelly
   
Title: 
Managing Director
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as Lender
             
By: 
/s/ Oscar D. Cortez
   
Name: 
Oscar D. Cortez
   
Title: 
Vice President
 

BlackRock, Inc.
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)
Signature Pages

 
 

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Exhibit A
(to Amendment No. 2 to Five-Year Revolving Credit Agreement)

Schedule 1.1(b)
(to Five-Year Revolving Credit Agreement)

Commitments

   
Commitment
   
Percentage
 
Wells Fargo Bank, National Association
  $ 255,000,000.00       6.4 %
Citibank, N.A.
  $ 255,000,000.00       6.4 %
JPMorgan Chase Bank, N.A.
  $ 255,000,000.00       6.4 %
Morgan Stanley Bank, N.A.
  $ 255,000,000.00       6.4 %
Bank of America, N.A.
  $ 255,000,000.00       6.4 %
Barclays Bank PLC
  $ 255,000,000.00       6.4 %
Deutsche Bank AG New York Branch
  $ 255,000,000.00       6.4 %
HSBC Bank USA, N.A.
  $ 255,000,000.00       6.4 %
The Royal Bank of Scotland plc
  $ 170,000,000.00       4.3 %
UBS AG, Stamford Branch
  $ 170,000,000.00       4.3 %
Credit Suisse AG
  $ 170,000,000.00       4.3 %
Mizuho Corporate Bank, Ltd.
  $ 170,000,000.00       4.3 %
Goldman Sachs Bank USA
  $ 170,000,000.00       4.3 %
State Street Bank and Trust Company
  $ 170,000,000.00       4.3 %
The Bank of New York Mellon
  $ 170,000,000.00       4.3 %
Royal Bank of Canada
  $ 170,000,000.00       3.0 %
U.S. Bank National Association
  $ 120,000,000.00       3.0 %
BNP Paribas
  $ 120,000,000.00       1.3 %
Credit Agricole Corporate & Investment Bank
  $ 50,000,000.00       1.3 %
Banco Santander, SA, New York Branch
  $ 50,000,000.00       1.3 %
Societe Generale
  $ 50,000,000.00       1.3 %
Standard Chartered Bank
  $ 50,000,000.00       1.3 %
Sumitomo Mitsui Banking Corporation
  $ 50,000,000.00       1.3 %
Nomura International PLC
  $ 50,000,000.00       1.3 %
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  $ 50,000,000.00       1.3 %                  
Total
  $ 3,990,000.00       100.000000000 %

 
 
BlackRock, Inc.
Exhibit A
Amendment No. 2 to Five-Year Revolving Credit Agreement (2013)

 

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