Exhibit 10.1
 
FIRST AMENDMENT
TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of
January 28, 2010 and is entered into by and among OSI Restaurant Partners, LLC,
a Delaware limited liability corporation (formerly known as OSI Restaurant
Partners, Inc., a Delaware corporation, the “Borrower”), OSI HoldCo, Inc., a
Delaware corporation (“Holdings”), Deutsche Bank AG New York Branch, as
administrative agent (in such capacity, the “Administrative Agent”), the Lenders
party hereto, and, for purposes of Section IV hereof, the GUARANTORS listed on
the signature papers hereto, and is made with reference to that certain CREDIT
AGREEMENT dated as of June 14, 2007 (as amended, supplemented or otherwise
modified through the date hereof, the “Credit Agreement”) by and among the
Borrower, Holdings, the Lenders, the Administrative Agent, Deutsche Bank AG New
York Branch, as pre-funded RC deposit bank, swing line lender and an L/C issuer,
and the other Agents named therein.  Capitalized terms used herein without
definition shall have the same meanings herein as set forth in the Credit
Agreement after giving effect to this Amendment.
 
RECITALS
 
WHEREAS, the Loan Parties have requested that the Required Lenders and the
Lenders holding more than 50% of the aggregate outstanding principal amount of
Term Loans (the “Required Term Lenders”) agree to amend certain provisions of
the Credit Agreement as provided for herein; and
 
WHEREAS, subject to certain conditions, the Lenders party hereto are willing to
agree to such amendment relating to the Credit Agreement.
 
NOW, THEREFORE, in consideration of the premises and the agreements, provisions
and covenants herein contained, the parties hereto agree as follows:
 
SECTION I.   AMENDMENTS TO CREDIT AGREEMENT
 
1.1  
Amendments to Section 1.01: Definitions.

 
1.  Section 1.01 of the Credit Agreement is hereby amended by adding the
following definitions in proper alphabetical sequence:
 
“Acceptable Reinvestment Commitment” has the meaning specified in Section
2.06(b)(ii)(B)(2).
 
“Aggregate Adjusted Amount” means, with respect to consummated Asian Sale
Transactions, the sum of the Adjusted Amounts for each such consummated Asian
Sale Transaction.
 
“Adjusted Amount” means, with respect to each Asian Sale Transaction, (a) with
respect to the fiscal year in which such Asian Sale Transaction is consummated,
an amount equal to the product of (x) 0.50 multiplied by (y) LTM Disposed EBITDA
 
 
 

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attributable to such Asian Sale Transaction multiplied by (z) a fraction, the
numerator of which is the number of days remaining in such fiscal year following
the date on which such Asian Sale Transaction has been consummated and the
denominator of which is 365 and (b) thereafter, an amount equal to the product
of (x) 0.50 and (y) LTM Disposed EBITDA attributable to such Asian Sale
Transaction.
 
“Asian Sale Transactions” means the sale of all or a portion of the Asian
Business.
 
“Asian Business” means the collective reference to (a) equity owned in, and the
assets and liabilities of (including the operations being conducted by), Bloomin
Hong Kong Limited and its Subsidiaries, (b) equity owned in, and the assets and
liabilities of (including the operations being conducted by), Outback Steakhouse
Japan Co., Ltd. and its Subsidiaries, (c) equity owned in, and the assets and
liabilities of (including the operations being conducted by), Outback Steakhouse
Korea, Ltd. and its Subsidiaries, (d) other assets owned by Holdings, the
Borrower or any other Restricted Subsidiary that are directly related to (i) the
operation of any of the businesses referred to in the preceding clauses (a), (b)
and/or (c) or (ii) operations conducted by any Person in any of the Target Sales
Countries, provided that such other assets shall only be included in this clause
(d) if a Disposition of such assets would not materially interfere with the
business of Holdings, the Borrower and its Restricted Subsidiaries and (e)
rights to develop and/or franchise businesses located in the Target Sale
Countries, provided, however, that assets and rights described in clauses (d)
and (e) of this definition shall only be included in the definition of “Asian
Business” to the extent such assets and/or rights are disposed of in connection
with the Disposition of any business referred to in clauses (a), (b) and/or (c)
above.
 
“Asian Subsidiaries” means collectively Bloomin Hong Kong Limited, Outback
Steakhouse Japan Co., Ltd., Outback Steakhouse Korea, Ltd. and their respective
Subsidiaries.
 
“First Amendment” means that certain First Amendment Agreement to Credit
Agreement dated as of January 28, 2010 among the Borrower, Holdings and the
Lenders and the Guarantors listed on the signature pages thereto.
 
“First Amendment Effective Date” means the date of satisfaction of the
conditions referred to in Section II of the First Amendment.
 
“LTM Disposed EBITDA” means, with respect to an Asian Sale Transaction, the
aggregate Disposed EBITDA (calculated based on the last twelve calendar month
period ending on the last calendar day of the month preceding the consummation
of such Asian Sale Transaction) that is attributable to such consummated Asian
Sale Transaction, as determined by the Borrower in good faith; provided, that
the Borrower shall include in the next annual Compliance Certificate required to
be delivered pursuant to Section 6.02(b) a calculation of such LTM Disposed
EBITDA.
 
“Second Reinvestment Commitment” has the meaning specified in Section
2.06(b)(ii)(B)(2).
 
 
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“Target Sale Countries” means Korea, China (including Hong Kong), Japan,
Singapore, Malaysia, Indonesia, Thailand, Guam, Taiwan, the Philippines and
Vietnam.
 
2.  The definition of “Net Cash Proceeds” in Section 1.01 of the Credit
Agreement is hereby amended by (i) inserting the words “without giving effect to
any carry-over income (or state or local of a type similar to income) tax
attributes (including, without limitation, net operating losses or tax credits)”
immediately after the words “in connection therewith” appearing in sub-clause
(C) of paragraph (a) thereof, (ii) inserting the following proviso immediately
at the end of paragraph (a) thereof: “provided, further, notwithstanding
anything contained herein to the contrary, any non-cash consideration received
or receivable by the Borrower or any Restricted Subsidiary in connection with a
Disposition permitted by Section 7.05(p) or (q) (including any deferred purchase
price or note receivable) shall be deemed cash received in connection with such
Disposition for purposes of this paragraph (a) (determined at a value equal to
its Fair Market Value), and subsequent cash or Cash Equivalents realized or
received by the Borrower or any Restricted Subsidiary in respect of such
non-cash consideration shall be disregarded for purposes of this paragraph (a)”
and (iii) inserting the words “or any Permitted Equity Issuance” immediately
after the words “or any Restricted Subsidiary” in paragraph (b) thereof.
 
1.2  
Amendments to Section 2.06: Prepayments.

 
 
Section 2.06 of the Credit Agreement is hereby amended by:

 
a.  in paragraph (A) of clause (b)(ii) thereof, deleting the “or” appearing
immediately before the “(n)” therein and replacing it with “,” and inserting the
words “, (p) or (q) (with respect to Sections 7.05(p) and (q), as to which the
second proviso of this Section 2.06(b)(ii)(A) and paragraph (B)(2) of this
Section 2.06(b)(ii) shall apply))” immediately after the “(n)” therein and
adding the following further proviso at the end thereof:
 
 
“provided, further, that with respect to any Net Cash Proceeds realized or
received with respect to a Disposition permitted by Section 7.05(p) or (q) (it
being understood that future franchise, license, sublicense and royalty fees and
other substantially similar fees and payments received by Holdings, the Borrower
and the Restricted Subsidiaries at market rates shall not be considered Net Cash
Proceeds), (i) the Borrower shall cause to be prepaid Term Loans in an aggregate
principal amount equal to 75% of such Net Cash Proceeds on or prior to the date
which is ten (10) Business Days after the date of the realization or receipt of
such Net Cash Proceeds and (ii) so long as no Event of Default has occurred and
is then continuing, the remaining Net Cash Proceeds from such Disposition may be
reinvested in accordance with Section 2.06(b)(ii)(B)(2);”

 
b.  in paragraph (B) of clause (b)(ii) thereof, inserting “(1)” after “(B)”
therein and adding the following as a new clause (2) immediately after clause
(B)(1):
 
 
“; and (2) with respect to any Net Cash Proceeds realized or received with
respect to a  Disposition permitted by Section 7.05(p) or (q) (it being
understood that future franchise, license, sublicense and royalty fees and other
substantially similar fees and payments received by Holdings, the Borrower and
the Restricted Subsidiaries at market rates shall

 
 
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not be considered Net Cash Proceeds), the Borrower may reinvest any or all of
the remaining portion of such Net Cash Proceeds (after giving effect to the
mandatory prepayment required by the second proviso of Section 2.06(b)(ii)(A)
above) in assets useful for its business or its Restricted Subsidiaries within
four hundred fifty (450) days following the date of the realization or receipt
of such Net Cash Proceeds; provided that (i) so long as an Event of Default
shall have occurred and be continuing, the Borrower shall not be permitted to
make any such reinvestments (other than pursuant to a legally binding commitment
that the Borrower entered into at a time when no Event of Default is continuing)
and (ii) a legally binding commitment shall be treated as a permitted
application of the Net Cash Proceeds from the date of such commitment so long as
the Borrower enters into such commitment with the good faith expectation that
such Net Cash Proceeds shall be applied to satisfy such commitment within 180
days of such commitment (an “Acceptable Reinvestment Commitment”) and, in the
event any Acceptable Reinvestment Commitment is later cancelled or terminated
for any reason before the Net Cash Proceeds are applied in connection therewith,
the Borrower enters into another Acceptable Reinvestment Commitment (a “Second
Reinvestment Commitment”) within 180 days of such cancellation or termination;
provided, further, that if any Second Reinvestment Commitment is later cancelled
or terminated for any reason before such Net Cash Proceeds are applied, then
such Net Cash Proceeds (or the remaining unapplied portion thereof) shall be
applied to the prepayment of Term Loans as set forth in this Section 2.06.  If
any Net Cash Proceeds are no longer intended to be or cannot be so reinvested
(whether because the applicable reinvestment period has expired, an Event of
Default has occurred and is then continuing or otherwise), an amount equal to
any such Net Cash Proceeds shall be applied within five (5) Business Days after
the Borrower reasonably determines that such Net Cash Proceeds are no longer
intended to be or cannot be so reinvested to the prepayment of the Term Loans as
set forth in this Section 2.06.”

 
 
1.3  
Amendment to Section 6.02: Certificates; Other Information.

 
Section 6.02(e) of the Credit Agreement is hereby amended by inserting the word
“solely” appearing immediately before the words “with respect to financial
statements delivered pursuant to Section 6.01(a)” and deleting the word
“quarter” in clause (ii) thereof and replacing it with the word “year”.
 
1.4  
Amendment to Section 7.01: Liens.

 
Section 7.01 of the Credit Agreement is hereby amended by deleting the “and”
appearing at the end of clause (z) thereof, replacing the “.” appearing at the
end of clause (aa) thereof with “; and” and adding the following new clause (bb)
immediately after clause (aa):
 
“(bb)           leases, licenses, subleases or sublicenses of assets granted to
others in connection with an Asian Sale Transaction which are directly
attributable to, or necessary for the operation of, the businesses and/or assets
being sold, provided that the granting of such leases, licenses, subleases or
sublicenses do not materially interfere with the business of Holdings, the
Borrower and the Restricted Subsidiaries; provided, further, that the
consideration received in respect of
 
 
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such leases, licenses, subleases or sublicenses shall be applied in accordance
with, and subject to the limitations set forth in, the second proviso of Section
2.06(b)(ii)(A).”
 
1.5  
Amendments to Section 7.02: Investments.

 
Section 7.02 of the Credit Agreement is hereby amended by deleting the “and”
appearing at the end of clause (s) thereof, replacing the “.” appearing at the
end of clause (t) thereof with “; and” and adding the following new clause (u)
immediately after clause (t) thereof:
 
“(u)  Investments received as consideration for, or consisting of minority
interests retained, in connection with an Asian Sale Transaction.”
 
1.6  
Amendment to Section 7.05: Dispositions.

 
Section 7.05 of the Credit Agreement is hereby amended by deleting the “and”
appearing at the end of clause (n) thereof, replacing the “.” appearing at the
end of clause (o) thereof with “;” and adding the following new clauses (p) and
(q) immediately after clause (o) thereof:

“(p)  the consummation of one or more Asian Sale Transactions; provided that (A)
no Default or Event of Default then exists and is continuing at the time of, or
would be caused by, such Asian Sale Transaction, (B) no less than 75% of the
consideration received by the Borrower or any Restricted Subsidiary with respect
to such Asian Sale Transaction shall be in the form of cash or Cash Equivalents
(in each case free and clear of all Liens at the time received), (C) the
Borrower would be in compliance with the covenant set forth in Section 7.11(a)
on a Pro Forma Basis after giving effect to such Asian Sale Transaction and any
related transactions including any cash and use of proceeds, (D) immediately
after giving Pro Forma Effect to such Asian Sale Transaction and any related
transactions including any cash and use of proceeds, the Total Leverage Ratio
shall be less than or equal to the Total Leverage Ratio calculated immediately
prior to such Asian Sale Transaction, and (E) the Borrower shall apply the Net
Cash Proceeds realized or received with respect to such Asian Sale Transaction
(it being understood that future franchise, license, sublicense and royalty fees
and other substantially similar fees and payments received by Holdings, the
Borrower and the Restricted Subsidiaries at market rates shall not be considered
Net Cash Proceeds) in accordance with the second proviso of Section
2.06(b)(ii)(A); and”

“(q)  leases, licenses, subleases or sublicenses permitted by Section 7.01(bb).”

1.7  
Amendment to Section 7.11: Financial Covenants.

 
Section 7.11(b) of the Credit Agreement is hereby amended by deleting
“$75,000,000” appearing in clause (ii) thereof and replacing it with the words
“(x) $75,000,000 or (y) if one or more Asian Sale Transactions has been
consummated, $75,000,000 minus the Aggregate Adjusted Amount; provided, that,
for the avoidance of doubt, Minimum Free Cash Flow shall continue to reflect
Consolidated EBITDA attributable to that portion of the Asian Business which has
been so disposed of pursuant to an Asian Sale Transaction for that portion of
the fiscal year prior to the consummation of such Asian Sale Transaction.”
 
 
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SECTION II.   CONDITIONS TO EFFECTIVENESS
 
This Amendment shall become effective as of the date hereof only upon the
satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the “First Amendment
Effective Date”):
 
A. Execution.  Goldman Sachs Lending Partners LLC (“GS Lending Partners”) shall
have received a counterpart signature page of this Amendment duly executed by
each of the Loan Parties and each of the Required Lenders and each of the
Required Term Lenders.
 
B. Fees and Expenses.
 
(i)  GS Lending Partners and the Administrative Agent shall have received from
the Borrower all fees and other amounts due and payable on or prior to the First
Amendment Effective Date, including (to the extent invoiced prior to the First
Amendment Effective Date) the reasonable fees and expenses of Latham & Watkins
LLP and White & Case LLP and any other fees due and payable by the Borrower to
GS Lending Partners pursuant to any separate agreements entered into between the
Borrower and GS Lending Partners.
 
(ii)  The Administrative Agent shall have received from the Borrower, on behalf
of each Lender which executes and submits to GS Lending Partners a signature
page hereto (provided that the condition set forth in paragraph A above has been
satisfied) at or prior to 3:00 PM (New York time), on January 28, 2010, an
amendment fee equal to 0.10% of the sum of the aggregate outstanding principal
amount of Term Loans held by such Lender as of such date and the aggregate
Working Capital RC Commitments and Pre-Funded RC Commitments of such Lender as
of such date.
 
C. Necessary Consents.  Each Loan Party shall have obtained all material
consents necessary or advisable in connection with the execution and delivery of
this Amendment.
 
SECTION III.    REPRESENTATIONS AND WARRANTIES
 
In order to induce Lenders to enter into this Amendment and to amend the Credit
Agreement in the manner provided herein, each Loan Party which is a party hereto
represents and warrants to each Lender that the following statements are true
and correct in all material respects:
 
A. Corporate Power and Authority.  Each Loan Party, which is party hereto, has
all requisite power and authority to enter into this Amendment and the Borrower
and Holdings have the requisite power and authority to carry out the
transactions contemplated by, and perform its obligations under, the Credit
Agreement as amended by this Amendment (the “Amended Agreement”).
 
B. Authorization of Agreements.  The execution and delivery of this Amendment
and the performance of the Amended Agreement have been duly authorized by all
necessary corporate or other organizational action on the part of the Borrower
and Holdings.
 
 
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C. No Conflict.  The execution and delivery by each Loan Party of this Amendment
and the performance by the Borrower and Holdings of the Amended Agreement do not
and will not (a) contravene the terms of any of such Person’s Organization
Documents, (b) conflict with or result in any breach or contravention of, or the
creation of any Lien under (other than as permitted by Section 7.01 of the
Credit Agreement), or require any payment to be made under (i)(x) any Senior
Notes Documentation, any Junior Financing Documentation and any other indenture,
mortgage, deed of trust or loan agreement evidencing Indebtedness in an
aggregate principal amount in excess of the Threshold Amount or (y) any Master
Lease or other Contractual Obligation to which such Person is a party or
affecting such Person or the properties of such Person or any of its
Subsidiaries or (ii) any material order, injunction, writ or decree of any
Governmental Authority or any arbitral award to which such Person or its
property is subject; or (c) violate any material Law; except with respect to any
conflict, breach or contravention or payment (but not creation of Liens)
referred to in clause (b)(i)(y), to the extent that such conflict, breach,
contravention or payment, either individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect.
 
D. Governmental Consents.  No material approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary or required in
connection with the execution, delivery or performance by, or enforcement
against, any Loan Party of this Amendment, except for such actions, consents and
approvals the failure to obtain or make, either individually or in the
aggregate, which could not reasonably be expected to have a Material Adverse
Effect or which have been obtained and are in full force and effect.
 
E. Binding Effect.  This Amendment has been duly executed and delivered by each
of the Loan Parties party hereto and each constitutes a legal, valid and binding
obligation of such Loan Party, enforce­able against each Loan Party that is a
party hereto in accordance with its terms, subject to Debtor Relief Laws,
general principles of equity (whether consider in a proceeding in equity or law)
and an implied covenant of good faith and fair dealing.
 
F. Incorporation of Representations and Warranties from Credit Agreement.  The
representations and warranties of such Loan Party contained in Article V of the
Amended Agreement and each other Loan Document to which it is a party are and
will be true and correct in all material respects on and as of the First
Amendment Effective Date to the same extent as though made on and as of that
date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case they were true and correct in all
material respects on and as of such earlier date.
 
G. Absence of Default.  No event has occurred and is continuing or will result
from the consummation of this Amendment that would constitute an Event of
Default or a Default.
 
SECTION IV.    ACKNOWLEDGMENT AND CONSENT
 
Each Guarantor hereby acknowledges that it has reviewed the terms and provisions
of the Credit Agreement and this Amendment and consents to the amendment of the
Credit Agreement effected pursuant to this Amendment.  Each Guarantor hereby
confirms that each Loan Document to which it is a party or otherwise bound and
all Collateral encumbered thereby will
 
 
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continue to guarantee or secure, as the case may be, to the fullest extent
possible in accordance with the Loan Documents the payment and performance of
all “Obligations” under each of the Loan Documents to which is a party (in each
case as such terms are defined in the applicable Loan Document).
 
Each Guarantor acknowledges and agrees that any of the Loan Documents to which
it is a party or otherwise bound shall continue in full force and effect and
that all of its obligations thereunder shall be valid and enforceable and shall
not be im­paired or limited by the execution or effectiveness of this Amendment.
 
The parties hereto acknowledge and agree that (i) notwithstanding the conditions
to effectiveness set forth in this Amendment, the consent of such Guarantor is
not required by the terms of the Credit Agreement or any other Loan Document in
order to effect the amendments to the Credit Agreement pursuant to this
Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other
Loan Document shall be deemed to require the consent of such Guarantor to any
future amendments to the Credit Agreement.
 
SECTION V.      MISCELLANEOUS
 
A. Reference to and Effect on the Credit Agreement and the Other Loan Documents.
 
(i) On and after the First Amendment Effective Date, each reference in the
Credit Agreement to “this Amendment”, “hereunder”, “hereof”, “herein” or words
of like import referring to the Credit Agreement, and each reference in the
other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words
of like import referring to the Credit Agreement shall mean and be a reference
to the Credit Agreement as amended by this Amendment.
 
(ii) This Amendment shall be deemed a “Loan Document” for all purposes under the
Credit Agreement.
 
(iii) Except as specifically amended by this Amendment, the Credit Agreement and
the other Loan Documents shall remain in full force and effect and are hereby
ratified and confirmed.
 
(iv) The execution, delivery and performance of this Amendment shall not
constitute a waiver of any provision of, or operate as a waiver of any right,
power or remedy of any Agent or Lender under, the Credit Agreement or any of the
other Loan Documents.
 
B. Headings.  Section and Subsection headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose or be given any substantive effect.
 
C. Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND OB­LIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
 
 
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SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.
 
D. Counterparts.  This Amendment may be executed in any number of counter­parts
and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same
document.
 
E. Electronic Execution.  The words “execution,” “signed,” “signature,” and
words of like import shall be deemed to include electronic signatures or the
keeping of records in electronic form, each of which shall be of the same legal
effect, validity or enforceability as a manually executed signature or the use
of a paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.
 
[Remainder of this page intentionally left blank.]

 
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective officers thereunto duly authorized as
of the date first written above.

 
OSI RESTAURANT PARTNERS, LLC,

 
as Borrower

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

 
OSI HOLDCO, INC.,

 
as Holdings and a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S OF BOWIE, LLC,
as a Guarantor

By: CARRABBA’S/DC-I, LIMITED
PARTNERSHIP, its managing member

By: CARRABBA’S ITALIAN GRILL,
LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S/ARIZONA-I, LIMITED PARTNERSHIP,
CARRABBA’S/BIRCHWOOD, LIMITED PARTNERSHIP,
CARRABBA’S/BOBBY PASTA, LIMITED PARTNERSHIP,
CARRABBA’S/BROKEN ARROW, LIMITED PARTNERSHIP,
CARRABBA’S/CANTON, LIMITED PARTNERSHIP,
CARRABBA’S/CAROLINA-I, LIMITED
 
[OSI Amendment - Borrower, Holdings and Guarantor Signature Page]
 
 

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PARTNERSHIP,
CARRABBA’S/CENTRAL FLORIDA-I, LIMITED PARTNERSHIP,
CARRABBA’S/CHICAGO, LIMITED PARTNERSHIP,
CARRABBA’S/COLORADO-I, LIMITED PARTNERSHIP,
CARRABBA’S/CRESTVIEW HILLS, LIMITED PARTNERSHIP,
CARRABBA’S/DALLAS-I, LIMITED PARTNERSHIP,
CARRABBA’S/DC-I, LIMITED PARTNERSHIP,
CARRABBA’S/FIRST COAST, LIMITED PARTNERSHIP,
CARRABBA’S/GEORGIA-I, LIMITED PARTNERSHIP,
CARRABBA’S/GREAT LAKES-I, LIMITED PARTNERSHIP,
CARRABBA’S/GULF COAST-I, LIMITED PARTNERSHIP,
CARRABBA’S/HEARTLAND-I, LIMITED PARTNERSHIP,
CARRABBA’S/MID ATLANTIC-I, LIMITED PARTNERSHIP,
CARRABBA’S/MID EAST, LIMITED PARTNERSHIP,
CARRABBA’S/NEW ENGLAND, LIMITED PARTNERSHIP,
CARRABBA’S/OHIO, LIMITED PARTNERSHIP,
CARRABBA’S/OUTBACK, LIMITED PARTNERSHIP,
CARRABBA’S/PENSACOLA, LIMITED PARTNERSHIP,
CARRABBA’S/SECOND COAST, LIMITED PARTNERSHIP,
CARRABBA’S/SOUTH FLORIDA-I, LIMITED PARTNERSHIP,
CARRABBA’S/SOUTH TEXAS-I, LIMITED PARTNERSHIP,
CARRABBA’S/SUN COAST, LIMITED PARTNERSHIP,
CARRABBA’S/TEXAS, LIMITED PARTNERSHIP,
CARRABBA’S/TRI STATE-I, LIMITED
 
[OSI Amendment - Guarantor Signature Page]
 
 

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PARTNERSHIP,
CARRABBA’S/TROPICAL COAST, LIMITED PARTNERSHIP,
CARRABBA’S/VIRGINIA, LIMITED PARTNERSHIP,
CARRABBA’S/WEST FLORIDA-I, LIMITED PARTNERSHIP,
CARRABBA’S/Z TEAM TWO-I, LIMITED PARTNERSHIP,
CARRABBA’S/Z TEAM-I, LIMITED PARTNERSHIP, as Guarantors

By:           CARRABBA’S ITALIAN GRILL, LLC,
           the general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S KANSAS DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S MIDWEST DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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CARRABBA’S/KANSAS TWO-I, LIMITED PARTNERSHIP,
CARRABBA’S/KANSAS-I, LIMITED PARTNERSHIP, as Guarantors

By: CARRABBA’S KANSAS, INC., the
general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

OSF/CIGI OF EVESHAM PARTNERSHIP,
as a Guarantor

By: OUTBACK/MID ATLANTIC-I,
LIMITED PARTNERSHIP, its general
partner

By: OUTBACK STEAKHOUSE OF
FLORIDA, LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

By: CARRABBA’S/MID ATLANTIC-I,
LIMITED PARTNERSHIP,
its general partner

By: CARRABBA’S ITALIAN GRILL, LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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CARRABBA’S OF BATON ROUGE, LLC,
as a Guarantor

By: CARRABBA’S/GULF COAST-I,
LIMITED PARTNERSHIP,
its sole member

By: CARRABBA’S ITALIAN GRILL, LLC, its general partner

By: /s/ Joseph J. Kadow                  
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S/MIDWEST-I, LIMITED PARTNERSHIP, as a Guarantor

By: CARRABBA’S MIDWEST, INC., its
general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

CARRABBA’S SHREVEPORT, LLC,
as a Guarantor

By: CARRABBA’S/DALLAS-I,
LIMITED PARTNERSHIP,
its sole member

By: CARRABBA’S ITALIAN GRILL, LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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CIGI HOLDINGS, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

HEARTLAND OUTBACK-I, LIMITED PARTNERSHIP,
HEARTLAND OUTBACK-II, LIMITED PARTNERSHIP,
as Guarantors

By: HEARTLAND OUTBACK, INC., the general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

OS ASSET, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS CAPITAL, INC.,
as a Guarantor

 
By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS DEVELOPERS, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OS MANAGEMENT, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS MORTGAGE HOLDINGS, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS REALTY, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS RESTAURANT SERVICES, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS TROPICAL, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OSI CO-ISSUER, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OSI GIFT CARD SERVICES, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK & CARRABBA’S OF NEW MEXICO, INC., as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

A LA CARTE EVENT PAVILION, LTD.,
OUTBACK CATERING OF PITTSBURGH, LTD., as a Guarantor

By: OUTBACK CATERING, INC., the
general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK CATERING DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OS SPEEDWAY, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK SPORTS, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK INTERNATIONAL DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

PRIVATE RESTAURANT MASTER LESSEE, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK STEAKHOUSE OF CENTRAL FLORIDA, LTD.,
OUTBACK STEAKHOUSE OF CENTRAL FLORIDA-II, LTD.,
OUTBACK STEAKHOUSE OF DALLAS-I, LTD.,
OUTBACK STEAKHOUSE OF DALLAS-II, LTD.,
OUTBACK STEAKHOUSE OF HOUSTON-I, LTD.,
OUTBACK STEAKHOUSE OF HOUSTON-II, LTD.,
OUTBACK STEAKHOUSE OF INDIANAPOLIS, LTD.,
OUTBACK STEAKHOUSE OF KENTUCKY, LTD.,
OUTBACK STEAKHOUSE OF NORTH GEORGIA-I, L.P.,
OUTBACK STEAKHOUSE OF NORTH GEORGIA-II, L.P.,
OUTBACK STEAKHOUSE OF SOUTH FLORIDA, LTD.,
 
[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK STEAKHOUSE OF SOUTH GEORGIA-I, L.P.,
OUTBACK STEAKHOUSE OF SOUTH GEORGIA-II, L.P.,
OUTBACK STEAKHOUSE OF WASHINGTON, D.C., LTD.,
OUTBACK/ALABAMA-I, LIMITED PARTNERSHIP,
OUTBACK/ALABAMA-II, LIMITED PARTNERSHIP,
OUTBACK/BAYOU-I, LIMITED PARTNERSHIP,
OUTBACK/BAYOU-II, LIMITED PARTNERSHIP,
OUTBACK/BILLINGS, LIMITED PARTNERSHIP,
OUTBACK/BLUEGRASS-I, LIMITED PARTNERSHIP,
OUTBACK/BLUEGRASS-II, LIMITED PARTNERSHIP,
OUTBACK/BUCKEYE-I, LIMITED PARTNERSHIP,
OUTBACK/BUCKEYE-II, LIMITED PARTNERSHIP,
OUTBACK/CHARLOTTE-I, LIMITED PARTNERSHIP,
OUTBACK/CHICAGO-I, LIMITED PARTNERSHIP,
OUTBACK/CLEVELAND-I, LIMITED PARTNERSHIP,
OUTBACK/CLEVELAND-II, LIMITED PARTNERSHIP,
OUTBACK/DC, LIMITED PARTNERSHIP,
OUTBACK/DENVER-I, LIMITED PARTNERSHIP,
OUTBACK/DETROIT-I, LIMITED PARTNERSHIP,
OUTBACK/HAWAII-I, LIMITED PARTNERSHIP
OUTBACK/HEARTLAND-I, LIMITED PARTNERSHIP,
OUTBACK/HEARTLAND-II, LIMITED PARTNERSHIP,
OUTBACK/INDIANAPOLIS-II, LIMITED PARTNERSHIP,
OUTBACK/METROPOLIS-I, LIMITED PARTNERSHIP,
 
[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK/MID ATLANTIC-I, LIMITED PARTNERSHIP,
OUTBACK/MIDWEST-I, LIMITED PARTNERSHIP,
OUTBACK/MIDWEST-II, LIMITED PARTNERSHIP,
OUTBACK/MISSOURI-I, LIMITED PARTNERSHIP,
OUTBACK/MISSOURI-II, LIMITED PARTNERSHIP,
OUTBACK/NEVADA-I, LIMITED PARTNERSHIP,
OUTBACK/NEVADA-II, LIMITED PARTNERSHIP,
OUTBACK/NEW ENGLAND-I, LIMITED PARTNERSHIP,
OUTBACK/NEW ENGLAND-II, LIMITED PARTNERSHIP,
OUTBACK/NEW YORK, LIMITED PARTNERSHIP,
OUTBACK/NORTH FLORIDA-I, LIMITED PARTNERSHIP,
OUTBACK/NORTH FLORIDA-II, LIMITED PARTNERSHIP,
OUTBACK/PHOENIX-I, LIMITED PARTNERSHIP,
OUTBACK/PHOENIX-II, LIMITED PARTNERSHIP,
OUTBACK/SHENANDOAH-I, LIMITED PARTNERSHIP,
OUTBACK/SHENANDOAH-II, LIMITED PARTNERSHIP,
OUTBACK/SOUTH FLORIDA-II, LIMITED PARTNERSHIP,
OUTBACK/SOUTHWEST GEORGIA, LIMITED PARTNERSHIP,
OUTBACK/STONE-II, LIMITED PARTNERSHIP,
OUTBACK/UTAH-I, LIMITED PARTNERSHIP,
OUTBACK/VIRGINIA, LIMITED PARTNERSHIP,
OUTBACK/WEST FLORIDA-I, LIMITED PARTNERSHIP,
OUTBACK/WEST FLORIDA-II, LIMITED
 
[OSI Amendment - Guarantor Signature Page]
 
 

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PARTNERSHIP,
OUTBACK/WEST PENN, LIMITED PARTNERSHIP,
OUTBACK STEAKHOUSE-NYC, LTD.,
OUTBACK CATERING COMPANY, LIMITED PARTNERSHIP,
OUTBACK CATERING COMPANY-II, LIMITED PARTNERSHIP,
OUTBACK/CENTRAL MASS, LIMITED PARTNERSHIP,
OUTBACK/EAST MICHIGAN, LIMITED PARTNERSHIP,
OUTBACK/EMPIRE-I, LIMITED PARTNERSHIP,
as Guarantors

By: OUTBACK STEAKHOUSE OF FLORIDA, LLC, the general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK DESIGNATED PARTNER, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK KANSAS DESIGNATED PARTNER, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK/CARRABBA’S PARTNERSHIP,
as a Guarantor

By: OUTBACK/MID ATLANTIC-I,
LIMITED PARTNERSHIP, its general
partner

By: OUTBACK STEAKHOUSE OF
FLORIDA, LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

By: CARRABBA’S/MID ATLANTIC-I,
LIMITED PARTNERSHIP, its general
partner

By: CARRABBA’S ITALIAN GRILL, LLC, its general partner

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK ALABAMA, INC.,
as a Guarantor

By: /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

OUTBACK STEAKHOUSE WEST VIRGINIA, INC., as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OSF NEBRASKA, INC., as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

OBTEX HOLDINGS, INC., as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

CARRABBA’S MIDWEST, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

CARRABBA’S ITALIAN GRILL, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CARRABBA’S ITALIAN MARKET, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

CIGI NEBRASKA, INC.
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Secretary

[OSI Amendment - Guarantor Signature Page]
 
 

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CARRABBA’S KANSAS INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

HEARTLAND OUTBACK, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Vice President

OSI INTERNATIONAL, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK CATERING, INC.,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK STEAKHOUSE INTERNATIONAL, LLC,
as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

OUTBACK STEAKHOUSE OF FLORIDA, LLC, as a Guarantor

By:  /s/ Joseph J. Kadow                
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK STEAKHOUSE INTERNATIONAL, L.P.,
as a Guarantor

 
By: OSI INTERNATIONAL, LLC, its
general partner

By:  /s/ Joseph J. Kadow                  
Name: Joseph J. Kadow
Title: Executive Vice President

OS NIAGARA FALLS, LLC, as a Guarantor

By: OUTBACK STEAKHOUSE
INTERNATIONAL, L.P., its general partner

By: OSI INTERNATIONAL, LLC, its
general partner

By:  /s/ Joseph J. Kadow                  
Name: Joseph J. Kadow
Title: Executive Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK BEVERAGES OF TEXAS, INC. (f/k/a OUTBACK BEVERAGES OF NORTH TEXAS, INC.),
as a Guarantor

By:  /s/ Dirk A. Montgomery              
Name: Dirk A. Montgomery
Title: Treasurer

CIGI BEVERAGES OF TEXAS, INC.,
as a Guarantor

By:  /s/ Dirk A. Montgomery               
Name: Dirk A. Montgomery
Title: Treasurer

OUTBACK STEAKHOUSE OF SOUTH CAROLINA, INC., as a Guarantor

By:  /s/ Dirk A. Montgomery               
Name: Dirk A. Montgomery
Title: Senior Vice President

[OSI Amendment - Guarantor Signature Page]
 
 

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FREDERICK OUTBACK, INC.,
as a Guarantor

By:  /s/ Stephen S. Newton             
Name: Stephen S. Newton
Title: President

OUTBACK OF ASPEN HILL, INC.,
as a Guarantor

By:  /s/ Stephen S. Newton             
Name: Stephen S. Newton
Title: President

OUTBACK OF GERMANTOWN, INC.,
as a Guarantor

By:  /s/ Stephen S. Newton             
Name: Stephen S. Newton
Title: President

[OSI Amendment - Guarantor Signature Page]
 
 

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OUTBACK OF WALDORF, INC.,
as a Guarantor

By: /s/ Cornell L. Barnett              
Name: Cornell L. Barnett
Title: President

[OSI Amendment - Guarantor Signature Page]
 
 

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DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent

By:  /s/ Socttye Lindsey             
                                                                        
      Name:  Scottye Lindsey
      Title:  Director

By: /s/ Evelyn Thierry               
                                                                        
      Name:  Evelyn Thierry
      Title:  Vice President

 

 

[First Amendment to OSI Restaurant Partners, LLC Credit Agreement]
 

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