Exhibit 10.2




---



##### 



TABLE OF CONTENTS
 SECTION
    
    HEADING
    
    PAGESECTION 1 LETTERS OF CREDIT
    
    
    1Section 1.1
    
    Issuance of Letters of Credit
    
    
    1Section 1.2
    
    Conditions to Each Issuance after the Effective Date
    
    
    2Section 1.3
    
    Letters of Credit in Optional Currency
    
    
    2SECTION 2 CASH DRAW FACILITY
    
    
    3Section 2.1
    
    The Cash Draw Facility
    
    
    3Section 2.2
    
    Purpose
    
    
    3Section 2.3
    
    Monitoring
    
    
    3Section 2.4
    
    Cancellation of Commitment
    
    
    3Section 2.5
    
    Repayment of Cash Draw Facility Loans
    
    
    3Section 2.6
    
    Illegality
    
    
    4Section 2.7
    
    Voluntary Prepayment of Cash Draw Facility Loans
    
    
    4Section 2.8
    
    Interest
    
    
    4Section 2.9
    
    Interest and other Amounts
    
    
    4Section 2.10
    
    Reborrowing of Cash Draw Facility
    
    
    4Section 2.11
    
    Default Interest
    
    
    4Section 2.12
    
    Absence of Quotations
    
    
    4Section 2.13
    
    Market Disruption
    
    
    5Section 2.14
    
    Alternative Reference Bank Rate
    
    
    6Section 2.15
    
    Alternative Basis of Interest or Funding
    
    
    6Section 2.16
    
    Commitment Fee
    
    
    6Section 2.17
    
    Increased Costs
    
    
    6Section 2.18
    
    Increased Cost Claims
    
    
    7Section 2.19
    
    Exceptions
    
    
    7SECTION 3 PROVISIONS APPLICABLE TO ALL LETTERS OF CREDIT
    
    
    8Section 3.1
    
    Responsibility of Issuing Bank
    
    
    8Section 3.2
    
    Reimbursement by the Company of Amounts Drawn or Paid Under Letters of Credit
    
    
    8Section 3.3
    
    Obligations Absolute
    
    
    9Section 3.4
    
    Interest and Fees with Respect to Letters of Credit
    
    
    9Section 3.5
    
    Credit Support
    
    
    11Section 3.6
    
    Maturity with Respect to Letters of Credit
    
    
    12Section 3.7
    
    Evidence of Debt
    
    
    12Section 3.8
    
    Irish Insurance Acts
    
    
    12Section 3.9
    
    Applicability of ISP
    
    
    12Section 3.10
    
    Headroom Facility
    
    
    12Section 3.11
    
    Increased Costs
    
    
    13




---



##### 



SECTION
    
    HEADING
    
    PAGESECTION 4 CONDITIONS TO EFFECTIVENESS.
    
    
    14Section 4.1
    
    Representations and Warranties
    
    
    14Section 4.2
    
    Performance; No Default
    
    
    15Section 4.3
    
    Closing Certificates
    
    
    15Section 4.4
    
    Opinions of Counsel
    
    
    15Section 4.5
    
    Issuance Permitted By Applicable Law, Etc.
    
    
    15Section 4.6
    
    [Intentionally Omitted]
    
    
    16Section 4.7
    
    Payment of Fees
    
    
    16Section 4.8
    
    [Intentionally Omitted]
    
    
    16Section 4.9
    
    Changes in Corporate Structure
    
    
    16Section 4.10
    
    [Intentionally Omitted]
    
    
    16Section 4.11
    
    [Intentionally Omitted]
    
    
    16Section 4.12
    
    Proceedings and Documents
    
    
    16Section 4.13
    
    Subsidiary Guarantee Agreement
    
    
    16Section 4.14
    
    2006 Notes
    
    
    16Section 4.15
    
    New Global Credit Facilities
    
    
    16Section 4.16
    
    Approvals
    
    
    16Section 4.17
    
    Solvency Certificate
    
    
    17Section 4.18
    
    No Material Adverse Effect
    
    
    17SECTION 5 REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS
    
    
    17Section 5.1
    
    Organization; Power and Authority
    
    
    17Section 5.2
    
    Authorization, Etc.
    
    
    17Section 5.3
    
    Disclosure
    
    
    17Section 5.4
    
    Organization and Ownership of Shares of Subsidiaries; Affiliates
    
    
    18Section 5.5
    
    Financial Statements; Material Liabilities
    
    
    19Section 5.6
    
    Compliance with Laws, Other Instruments, Etc.
    
    
    19Section 5.7
    
    Governmental Authorizations, Etc.
    
    
    19Section 5.8
    
    Litigation; Observance of Agreements, Statutes and Orders
    
    
    20Section 5.9
    
    Taxes
    
    
    20Section 5.10
    
    Title to Property; Leases
    
    
    21Section 5.11
    
    Licenses, Permits, Etc.
    
    
    21Section 5.12
    
    Compliance with ERISA; Non-U.S. Plans
    
    
    21Section 5.13
    
    [Intentionally Omitted]
    
    
    22Section 5.14
    
    Use of Proceeds; Margin Regulations
    
    
    22Section 5.15
    
    Existing Indebtedness; Future Liens
    
    
    23Section 5.16
    
    Foreign Assets Control Regulations, Etc.
    
    
    24Section 5.17
    
    Status under Certain Statutes
    
    
    24Section 5.18
    
    Environmental Matters
    
    
    24Section 5.19
    
    Ranking of Obligations
    
    
    25Section 5.20
    
    Obligor Group
    
    
    25Section 5.21
    
    CASS Reserve
    
    
    25Section 5.22
    
    Labor Matters
    
    
    25Section 5.23
    
    Insolvency
    
    
    26
  ii




---



##### 



SECTION
    
    HEADING
    
    PAGESECTION 6 REPRESENTATION OF THE LENDER
    
    
    26SECTION 7 INFORMATION AS TO COMPANY
    
    
    26Section 7.1
    
    Financial and Business Information
    
    
    26Section 7.2
    
    Officers Certificate
    
    
    30Section 7.3
    
    Visitation
    
    
    30Section 7.4
    
    Limitation on Disclosure Obligation
    
    
    31SECTION 8 [INTENTIONALLY OMITTED]
    
    
    31SECTION 9 AFFIRMATIVE COVENANTS
    
    
    31Section 9.1
    
    Compliance with Law
    
    
    31Section 9.2
    
    Insurance
    
    
    32Section 9.3
    
    Maintenance of Properties
    
    
    32Section 9.4
    
    Payment of Taxes and Claims
    
    
    32Section 9.5
    
    Corporate Existence, Etc.
    
    
    32Section 9.6
    
    Books and Records
    
    
    33Section 9.7
    
    Priority of Obligations
    
    
    33Section 9.8
    
    [Intentionally Omitted]
    
    
    33Section 9.9
    
    Dividend Capture from South Africa
    
    
    33Section 9.10
    
    Additional Guarantors
    
    
    33Section 9.11
    
    Release of Subsidiary Guarantors; Substitution of Subsidiary Guarantors
    
    
    34Section 9.12
    
    Group Structure
    
    
    35Section 9.13
    
    CASS Agreement
    
    
    35Section 9.14
    
    Further Assurances
    
    
    35Section 9.15
    
    Additional Restrictions
    
    
    36Section 9.16
    
    2009 Notes Covenants
    
    
    37Section 9.17
    
    Know Your Customer checks
    
    
    37Section 9.18
    
    Post-Effective Date Obligations
    
    
    37SECTION 10 NEGATIVE COVENANTS
    
    
    38Section 10.1
    
    Transactions with Affiliates
    
    
    38Section 10.2
    
    Restricted Payments
    
    
    38Section 10.3
    
    Consolidated Total Debt Coverage
    
    
    38Section 10.4
    
    Priority Debt
    
    
    38Section 10.5
    
    Liens
    
    
    38Section 10.6
    
    Subsidiary Indebtedness
    
    
    40Section 10.7
    
    Merger, Consolidation, Etc.
    
    
    41Section 10.8
    
    Sale of Assets
    
    
    42Section 10.9
    
    Line of Business
    
    
    43
  iii




---



##### 



SECTION
    
    HEADING
    
    PAGESection 10.10
    
    Terrorism Sanctions Regulations
    
    
    43Section 10.11
    
    Subsidiaries in South Africa
    
    
    43Section 10.12
    
    Minimum Debt Service Ratio
    
    
    44Section 10.13
    
    Capital Leases
    
    
    44Section 10.14
    
    No Further Negative Pledges
    
    
    44Section 10.15
    
    Fiscal Year
    
    
    44SECTION 11 EVENTS OF DEFAULT
    
    
    44SECTION 12 REMEDIES ON DEFAULT, ETC.
    
    
    47Section 12.1
    
    Acceleration
    
    
    47Section 12.2
    
    Other Remedies
    
    
    48Section 12.3
    
    [Intentionally Omitted]
    
    
    48Section 12.4
    
    No Waivers or Election of Remedies, Expenses, Etc.
    
    
    48Section 12.5
    
    Executive Proceedings in Spain
    
    
    48SECTION 13 TAX INDEMNIFICATION
    
    
    49SECTION 14 ASSIGNMENT
    
    
    52Section 14.1
    
    [Intentionally Omitted]
    
    
    52Section 14.2
    
    Assignment
    
    
    52Section 14.3
    
    [Intentionally Omitted]
    
    
    52Section 14.4
    
    [Intentionally Omitted]
    
    
    52SECTION 15 PAYMENTS GENERALLY
    
    
    53Section 15.1
    
    Place of Payment
    
    
    53Section 15.2
    
    [Intentionally Omitted]
    
    
    53Section 15.3
    
    Set-off
    
    
    53SECTION 16 EXPENSES, ETC.
    
    
    53Section 16.1
    
    Transaction Expenses
    
    
    53Section 16.2
    
    Indemnification
    
    
    53Section 16.3
    
    Certain Taxes
    
    
    54Section 16.4
    
    Survival
    
    
    54SECTION 17 SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT
    
    
    54SECTION 18 AMENDMENT AND WAIVER
    
    
    55Section 18.1
    
    Requirements
    
    
    55Section 18.2
    
    Solicitation of Lender
    
    
    55Section 18.3
    
    Binding Effect, Etc.
    
    
    55Section 18.4
    
    [Intentionally Omitted]
    
    
    55
  iv




---



##### 



SECTION
    
    HEADING
    
    PAGESECTION 19 NOTICES; ENGLISH LANGUAGE
    
    
    55SECTION 20 REPRODUCTION OF DOCUMENTS
    
    
    56SECTION 21 CONFIDENTIAL INFORMATION
    
    
    56SECTION 22 [INTENTIONALLY OMITTED]
    
    
    57SECTION 23 SUBSIDIARY GUARANTEE AGREEMENT
    
    
    57Section 23.1
    
    Guarantee and Indemnity
    
    
    57Section 23.2
    
    Continuing Guarantee
    
    
    58Section 23.3
    
    Reinstatement
    
    
    58Section 23.4
    
    Waiver of Defenses
    
    
    58Section 23.5
    
    Immediate Recourse
    
    
    60Section 23.6
    
    Appropriations
    
    
    60Section 23.7
    
    Non-competition
    
    
    60Section 23.8
    
    Release of Subsidiary Guarantors Right of Contribution
    
    
    61Section 23.9
    
    Releases
    
    
    61Section 23.10
    
    Marshaling
    
    
    62Section 23.11
    
    Liability
    
    
    62Section 23.12
    
    Character of Obligation
    
    
    62Section 23.13
    
    Election to Perform Obligations
    
    
    64Section 23.14
    
    No Election
    
    
    64Section 23.15
    
    [Intentionally Omitted]
    
    
    64Section 23.16
    
    Other Enforcement Rights
    
    
    64Section 23.17
    
    Restoration of Rights and Remedies
    
    
    64Section 23.18
    
    Survival
    
    
    65Section 23.19
    
    Miscellaneous
    
    
    65Section 23.20
    
    Limitation
    
    
    65Section 23.21
    
    Written Notice
    
    
    65Section 23.22
    
    Unenforceability of Obligations
    
    
    66Section 23.23
    
    Contribution
    
    
    66Section 23.24
    
    Additional Security
    
    
    66Section 23.25
    
    Limitations  UK
    
    
    66Section 23.26
    
    Limitations  Spain
    
    
    66Section 23.27
    
    Limitations  Hong Kong
    
    
    67Section 23.28
    
    Limitations  Germany
    
    
    67Section 23.29
    
    Limitations  the Netherlands
    
    
    68Section 23.30
    
    U.S. Guarantors
    
    
    68Section 23.31
    
    Limitation on Pyramid Freight
    
    
    70
  v




---



##### 



SECTION
    
    HEADING
    
    PAGESection 23.32
    
    Limitations  Belgium
    
    
    70Section 23.33
    
    Limitations  Singapore
    
    
    70Section 23.34
    
    Irish Obligors
    
    
    70Section 23.35
    
    Guarantor Intent
    
    
    70SECTION 24 MISCELLANEOUS
    
    
    70Section 24.1
    
    Successors and Assigns
    
    
    70Section 24.2
    
    Payments Due on Non-Business Days
    
    
    70Section 24.3
    
    Accounting Terms
    
    
    71Section 24.4
    
    Severability
    
    
    71Section 24.5
    
    Construction, Etc.
    
    
    71Section 24.6
    
    Counterparts
    
    
    71Section 24.7
    
    Third Party Rights
    
    
    72Section 24.8
    
    Governing Law
    
    
    72Section 24.9
    
    Jurisdiction and Process; Waiver of Jury Trial
    
    
    72Section 24.10
    
    Obligation to Make Payment in Dollars
    
    
    73Section 24.11
    
    No Novation
    
    
    73
  vi




---



##### 



SCHEDULE A
    
    
    
    Information Relating to Issuing Bank and LenderSCHEDULE B
    
    
    
    Defined TermsEXHIBIT 1
    
    
    
    [Intentionally Omitted]EXHIBIT 1.1
    
    
    
    Form of Letter of CreditEXHIBIT 1.2
    
    
    
    Issuance NoticeEXHIBITS 4.4(a)(i),
(ii), (iii) and (iv)
    
    
    
    Form of Opinion of U.S. Counsel to the ObligorsEXHIBITS 4.4(a)(v),
and (vi)
    
    
    
    Form of Opinion of British Virgin Islands CounselEXHIBIT 4.4(a)(vii)
    
    
    
    Form of Opinion of Australian CounselEXHIBIT 4.4(a)(viii),
    
    
    
    Form of Opinion of Canadian CounselEXHIBIT 4.4(a)(ix)
    
    
    
    Form of Opinion of Belgian CounselEXHIBIT 4.4(a)(x)
    
    
    
    Form of Opinion of German CounselEXHIBIT 4.4(a)(xi)
    
    
    
    Form of Opinion of Hong Kong CounselEXHIBIT 4.4(a)(xii)
    
    
    
    Form of Opinion of Dutch CounselEXHIBIT 4.4(a)(xiii)
    
    
    
    Form of Opinion of Spanish CounselEXHIBIT 4.4(a)(xiv)
    
    
    
    Form of Opinion of English CounselEXHIBIT 4.4(a)(xv)
    
    
    
    Form of Opinion of Guernsey CounselEXHIBIT 4.4(a)(xvi)
    
    
    
    Form of Opinion of Singapore CounselEXHIBIT 4.4(a)(xvii)
    
    
    
    Form of Opinion of Arizona CounselEXHIBIT 4.4(a)(xviii)
    
    
    
    Form of Opinion of English Counsel to the LenderEXHIBIT 4.4(b)
    
    
    
    [Intentionally Omitted]EXHIBIT 2
    
    
    
    Form of Joinder Agreement
  vii




---



##### 



EXHIBIT 14.4
    
    
    
    [Intentionally Omitted]SCHEDULE 1.1
    
    
    
    Existing Letters of CreditSCHEDULE 4
    
    
    
    Mandatory Cost FormulaSCHEDULE 4.9
    
    
    
    [Intentionally Omitted]SCHEDULE 5.3
    
    
    
    Disclosure MaterialsSCHEDULE 5.4
    
    
    
    Subsidiaries of the Company and Ownership of Subsidiary StockSCHEDULE 5.5
    
    
    
    Financial StatementsSCHEDULE 5.7
    
    
    
    Governmental AuthorizationsSCHEDULE 5.9
    
    
    
    Liability for TaxesSCHEDULE 5.15
    
    
    
    Existing Indebtedness and LiensSCHEDULE 5.22
    
    
    
    Collective Bargaining Agreements
  viii




---



##### 



LETTER OF CREDIT AND CASH DRAW FACILITY
 24
   Company
  Section 1.1 Issuance of Letters of Credit Existing Letters of Credit provided however provided
   1




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 1.2 Conditions to Each Issuance after the Effective Date
      Section 1.3 Letters of Credit in Optional Currency
     2




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 2.1 The Cash Draw Facility
 Section 2.2 Purpose
 Section 2.3 Monitoring
 Section 2.4 Cancellation of Commitment provided provided
 Section 2.5 Repayment of Cash Draw Facility Loans
   3




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 2.6 Illegality
   Section 2.7 Voluntary Prepayment of Cash Draw Facility Loans
 Section 2.8 Interest
  Section 2.9 Interest and other Amounts
 Section 2.10 Reborrowing of Cash Draw Facility
 Section 2.11 Default Interest
 Section 2.12 Absence of Quotations
   4




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 2.13 Market Disruption
   provided vis a-vis
      Alternative Market Disruption Event
    5




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Market Disruption Event
   Section 2.14 Alternative Reference Bank Rate
 Alternative
Reference Bank Rate
 Section 2.15 Alternative Basis of Interest or Funding
  Section 2.16 Commitment Fee
 Section 2.17 Increased Costs
  6




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Increased Costs
       Section 2.18 Increased Cost Claims
 Section 2.19 Exceptions vis a-vis
  7




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 3.1 Responsibility of Issuing Bank
 Section 3.2 Reimbursement by the Company of Amounts Drawn or Paid Under Letters of Credit Reimbursement Date
 
  8




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  
  Section 3.3 Obligations Absolute provided
 Section 3.4 Interest and Fees with Respect to Letters of Credit
  9




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   provided
     10




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 3.5 Credit Support
      Credit Support
     11




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 3.6 Maturity with Respect to Letters of Credit
 Section 3.7 Evidence of Debt provided
 Section 3.8 Irish Insurance Acts
 Section 3.9 Applicability of ISP
 Section 3.10 Headroom Facility New LC Commitments Increased Amount Date provided provided further
 (1)
    
    the final and unconditional credit and pricing committee approval by the
Issuing Bank in respect of the utilization by the Company of the whole or a portion of
the New LC Commitments requested by the Company;
  12




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 (2)
    
    the Obligors execution of any necessary legal documentation in respect of the
New LC Commitments;
 (3)
    
    the Issuing Banks receipt of all necessary documentation, including
documentation in respect of existing and/or additional security, duly executed and
completed by the Obligors, in a form and substance acceptable to the Issuing Bank, and
unconditional in accordance with its own terms;
 (4)
    
    the Companys fulfillment of all additional conditions which may be reasonably
requested in writing by the Issuing Bank;
 (5)
    
    the Issuing Banks receipt of a structuring fee equal to no less than 1.0% of
such New LC Commitment, which fee will be payable on the Increased Amount Date; and
 (6)
    
    the receipt of proof, to the Issuing Banks satisfaction, that the Company has
ensured that the utilization of the New LC Commitments does not result in a default in
the terms of any outstanding Indebtedness.
 New LC
 Section 3.11 Increased Costs Regulatory Change
  13




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Increased Costs provided
   Section 4.1 Representations and Warranties
  14




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 4.2 Performance; No Default
 Section 4.3 Closing Certificates
 Officers Certificate
 Secretarys or Directors Certificate
 Section 4.4 Opinions of Counsel
 Section 4.5 Issuance Permitted By Applicable Law, Etc.
  15




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 4.6 [ Intentionally Omitted ]
 Section 4.7 Payment of Fees
 Section 4.8 [ Intentionally Omitted ]
 Section 4.9 Changes in Corporate Structure
 Section 4.10 [ Intentionally Omitted ]
 Section 4.11 [ Intentionally Omitted ]
 Section 4.12 Proceedings and Documents
 Section 4.13 Subsidiary Guarantee Agreement
 Section 4.14 2006 Notes
 Section 4.15 New Global Credit Facilities
 Section 4.16 Approvals
  16




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 4.17 Solvency Certificate
 Section 4.18 No Material Adverse Effect
   Section 5.1 Organization; Power and Authority
 Section 5.2 Authorization, Etc.
 Section 5.3 Disclosure Disclosure Documents
  17




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 5.4 Organization and Ownership of Shares of Subsidiaries; Affiliates
     18




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 5.5 Financial Statements; Material Liabilities
 Section 5.6 Compliance with Laws, Other Instruments, Etc.
 Section 5.7 Governmental Authorizations, Etc.
  19




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 5.8 Litigation; Observance of Agreements, Statutes and Orders
  Section 5.9 Taxes
   20




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 5.10 Title to Property; Leases
 Section 5.11 Licenses, Permits, Etc.
   Section 5.12 Compliance with ERISA; Non-U.S. Plans
   21




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
     Section 5.13 [ Intentionally Omitted ]
 Section 5.14 Use of Proceeds; Margin Regulations provided provided further
  22




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 5.15 Existing Indebtedness; Future Liens
    23




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 5.16 Foreign Assets Control Regulations, Etc. OFAC OFAC Listed Person Blocked Person
  Anti-Money Laundering Laws
  Section 5.17 Status under Certain Statutes
 Section 5.18 Environmental Matters
  24




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 5.19 Ranking of Obligations pari passu
 Section 5.20 Obligor Group
 Section 5.21 CASS Reserve
 Section 5.22 Labor Matters
    25




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 5.23 Insolvency
        Section 7.1 Financial and Business Information
 Quarterly Statements Form 10-Q
    26




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 provided provided further Electronic Delivery
 Annual Statements Form 10-K
       27




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 provided Accountants Certificate provided further
 SEC and Other Reports provided
 Notice of Default or Event of Default or Litigation or Arbitration
    28




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Employee Benefit Matters
     Notices from Governmental Authority
 Requested Information
 Quarterly Consolidating Working Papers
  29




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Certificate of Financial Undertaking
 Projections
 Section 7.2 Officers Certificate
 Covenant Compliance
 Event of Default
 Section 7.3 Visitation
 No Default
  30




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Default
 Section 7.4 Limitation on Disclosure Obligation
  provided provided further
  [ ]
   Section 9.1 Compliance with Law
  31




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 9.2 Insurance
 Section 9.3 Maintenance of Properties provided
 Section 9.4 Payment of Taxes and Claims provided
 Section 9.5 Corporate Existence, Etc.
  32




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 9.6 Books and Records
 Section 9.7 Priority of Obligations provided
 Section 9.8 [ Intentionally Omitted ]
 Section 9.9 Dividend Capture from South Africa
 Section 9.10 Additional Guarantors Additional Guarantor Joinder Agreement
     33




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  UTi Israel
 Section 9.11 Release of Subsidiary Guarantors; Substitution of Subsidiary Guarantors
   34




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 9.12 Group Structure
 Section 9.13 CASS Agreement
 Section 9.14 Further Assurances
  35




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 9.15 Additional Restrictions Reference Agreement New Covenants Improved Covenants Additional
Covenants mutatis mutandis
 provided
 Memorialization mutatis mutandis
 provided
   36




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 9.16 2009 Notes Covenants mutatis mutandis
 Section 9.17 Know Your Customer checks
     Section 9.18 Post-Effective Date Obligations escritura pública Ley
1/2000 de 7 de enero, Ley de Enjuiciamiento Civi Civil Procedural Law primera copia autorizada
  37




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 10.1 Transactions with Affiliates
 Section 10.2 Restricted Payments Limitation unless .
 Time of Payment
 Section 10.3 Consolidated Total Debt Coverage
 Section 10.4 Priority Debt
 Section 10.5 Liens
   provided
  38




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    provided
     provided
   39




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 10.6 Subsidiary Indebtedness
        40




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
       provided
  Section 10.7 Merger, Consolidation, Etc.
   41




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 10.8 Sale of Assets Disposition
   provided
     42




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 10.9 Line of Business
 Section 10.10 Terrorism Sanctions Regulations
 Section 10.11 Subsidiaries in South Africa
  43




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 10.12 Minimum Debt Service Ratio
 Section 10.13 Capital Leases
 Section 10.14 No Further Negative Pledges provided
 Section 10.15 Fiscal Year
  Event of Default
     44




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
      45




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  failliet verklaard ontbonden redressement judiciaire, cession totale de lentreprise liquidation
judiciaire et seq Insolvenzverfahren provided
    46




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  provided
    Section 12.1 Acceleration
   47




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 12.2 Other Remedies
 Section 12.3 [ Intentionally Omitted ]
 Section 12.4 No Waivers or Election of Remedies, Expenses, Etc.
 Section 12.5 Executive Proceedings in Spain escritura pública
 et seq
 et seq acta notarial acta notarial
  48




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Taxing Jurisdiction
 provided
 provided
  49




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 provided provided further
  provided further Original Jurisdiction
 Forms provided provided further
  50




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
      51




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 14.1 [ Intentionally Omitted ]
 Section 14.2 Assignment
 Section 14.3 [ Intentionally Omitted ]
 Section 14.4 [ Intentionally Omitted ]
  52




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 15.1 Place of Payment
 Section 15.2 [ Intentionally Omitted ]
 Section 15.3 Set-off
  Section 16.1 Transaction Expenses
 Section 16.2 Indemnification Indemnitee provided
  53




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
   Section 16.3 Certain Taxes
 Section 16.4 Survival
    54




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 18.1 Requirements
 Section 18.2 Solicitation of Lender
 Section 18.3 Binding Effect, Etc.
 Section 18.4 [ Intentionally Omitted ]
    provided
   55




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
      Confidential Information provided provided
  56




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  [ ]
  Section 23.1 Guarantee and Indemnity
  Guaranteed Obligations
   57




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 23.2 Continuing Guarantee
  Section 23.3 Reinstatement
  Section 23.4 Waiver of Defenses
       58




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
          beneficios de
excusión, orden y división et seq
   59




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 droit de
discussion or droit de division
    Section 23.5 Immediate Recourse
  Section 23.6 Appropriations
    Section 23.7 Non-competition
       60




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
    Section 23.8 Release of Subsidiary Guarantors Right of Contribution
   Section 23.9 Releases
      61




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
     Section 23.10 Marshaling
   Section 23.11 Liability
 Section 23.12 Character of Obligation
   62




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
      force majeure
    63




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 23.13 Election to Perform Obligations
 Section 23.14 No Election
 Section 23.15 [Intentionally Omitted]
 Section 23.16 Other Enforcement Rights
 Section 23.17 Restoration of Rights and Remedies
  64




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 23.18 Survival
 Section 23.19 Miscellaneous
  Section 23.20 Limitation
 Section 23.21 Written Notice
  65




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 23.22 Unenforceability of Obligations
     Section 23.23 Contribution
 Section 23.24 Additional Security
 Section 23.25 Limitations  UK
 Section 23.26 Limitations  Spain Real Decreto
Legislativo 1564/1989, de 22 de Diciembre, por el que se aprueba el Texto Refundido de la Ley de
Sociedades Anónimas Ley
2/1995, de 23 de marzo, de Sociedades de Responsabilidad Limitada concurso
  66




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 23.27 Limitations  Hong Kong
 Section 23.28 Limitations  Germany Kommanditgesellschaft Gesellschaft mit beschränkter Haftung GmbH & Co. KG Gesellschaft mit beschränkter Haftung  GmbH Relevant German Obligor verbundenes Unternehmen Aktiengesetz Handelsgesetzbuch Net Asset Stammkapital Rücklage für eigene Anteile Protected Capital Begüendung einer Unterbilanz Vertiefung einer Unterbilanz
  Kapitalerhöhug aus Gesellschaftsmitteln
   67




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Management
Determination
 Handelsgesetzbuch
     Section 23.29 Limitations  the Netherlands
 Section 23.30 U.S. Guarantors
 fraudulent transfer law
   68




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
                  69




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
  Section 23.31 Limitation on Pyramid Freight
 Section 23.32 Limitations  Belgium Code des Sociétés
 Section 23.33 Limitations  Singapore
 Section 23.34 Irish Obligors
 Section 23.35 Guarantor Intent
  Section 24.1 Successors and Assigns
 Section 24.2 Payments Due on Non-Business Days
  70




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 24.3 Accounting Terms
  Section 24.4 Severability
 Section 24.5 Construction, Etc.
  Section 24.6 Counterparts
  71




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Section 24.7 Third Party Rights Third Parties Act
  Section 24.8 Governing Law
 Section 24.9 Jurisdiction and Process; Waiver of Jury Trial Jurisdiction
 Dispute
   Service of Process
     72




---



##### 



UTi Worldwide Inc.
    
    Nedbank Facilities Agreement
 Governing law Jurisdiction and Process
  Section 24.10 Obligation to Make Payment in Dollars London Banking Day
 Section 24.11 No Novation
 This Agreement has been entered into on the date stated at the beginning of this Agreement.
   73




---



##### 



Very truly yours,UTi WORLDWIDE INC.By
    /s/ Craig BraunDuly Authorized Signatory (acting pursuant to,and in accordance with, an empowering resolution
of the Board of Directors of UTi Worldwide Inc.)




---



##### 



UTI (AUST) PTY LIMITED, ACN 006 734 747
UTI LOGISTICS N.V.
UTI BELGIUM N.V.
GODDARD COMPANY LIMITED
UTI INTERNATIONAL INC.
PYRAMID FREIGHT (PROPRIETARY) LIMITED
UTI CANADA CONTRACT LOGISTICS INC.
UTI, CANADA, INC.
UTI DEUTSCHLAND GMBH
UTI NETWORKS LIMITED
UTI (HK) LIMITED
UTI NEDERLAND B.V.
UTI GLOBAL SERVICES B.V.
UTI TECHNOLOGY SERVICES PTE LTD.
UTI WORLDWIDE (SINGAPORE) PTE LTD.
SERVICIOS LOGISTICOS INTEGRADOS SLI, S.A.
UTI IBERIA S.A.
UTI WORLDWIDE (UK) LIMITED
UTI, UNITED STATES, INC.
UTI INTEGRATED LOGISTICS, INC.
MARKET TRANSPORT, LTD.
INTRANSIT, INC.
SAMMONS TRANSPORTATION, INC.
UTI INVENTORY MANAGEMENT
SOLUTIONS INC
CONCENTREK, INC.By
    /s/ Craig BraunAuthorized Signatory




---



##### 



NEDBANK LIMITED, acting through its London Branch, as
Lender (and Issuing Bank)By:
    /s/ Graham HardyName:
    Graham HardyTitle:
    Treasurer LondonBy:
    /s/ David SidgwickName:
    David SidgwickTitle:
    Authorized Signatory




---



##### 



DEFINED TERMS
  2006 Notes
 2009 Covenants
 2009 Note Purchase Agreement
 2009 Notes
 2011 Agreements
 2011 Note Purchase Agreement
 2011 Notes
 action Invorderingswet 1990
 Additional Guarantor
 Affiliate Control




---



##### 



Agreement 24
 Alternative Market Disruption Event
 Alternative Reference Bank Rate
 Alternative Reference Banks
 Applicable Jurisdiction
 Availability Period
 Bank of the West Facility 24
 Base Reference Banks
 Base Reference Bank Rate
 BBBEE
 Belgium Facility
 Blocked Person
 Business Day
  B-2




---



##### 



Capital Lease
 Cash Draw Facility
 Cash Draw Facility Commitment
 Cash Draw Facility Loan
 CASS
 CASS Agreement
 Cession in Security Agreement
 Change of Control
   Civil Procedural Law
 Closing
 Code
  B-3




---



##### 



Commitment
 Company
 Confidential Information
 Consolidated EBITDA
        Consolidated Fixed Charges
 Consolidated Interest Payable
 Consolidated Net Worth
    B-4




---



##### 



Consolidated Tangible Assets
 Consolidated Total Assets
 Consolidated Total Debt
    Controlled Entity
 Credit Date
 Credit Support
 Current Account provided
 Debt Service Ratio
  B-5




---



##### 



Default
 Disclosure Documents
 disposal
 Auflassungsvormerkung
 Auflassung
 Grundstücksteilung
 Disposition
 Dispute
 Distribution
 Dollars $ U.S.$
 duly authorized
 Wet
op de ondernemingsraden
 advies
 Dutch Civil Code Burgerlijk Wetboek
 Dutch Obligor
 Effective Date 24
 Electronic Delivery
 Environmental Laws
  B-6




---



##### 



ERISA
 ERISA Affiliate
 Event of Default
 Exchange Act
 Existing Facility
 Existing Letters of Credit
 Final Maturity Date
 financial assistance
 (i)
    
    (for a besloten vennootschap) Article 2:207(c) of the Dutch Civil Code; or
 (ii)
    
    (for a naamloze vennootschap) Article 2:98(c) of the Dutch Civil Code.
 Financing Agreements
 Form 10-K
 Form 10-Q
 French Commercial Code
 GAAP provided
 German Facility
  B-7




---



##### 



Global Credit Facilities
 Governmental Authority
     Group
 guarantee cautionnement, aval garantie
 Guaranty
      B-8




---



##### 



Guernsey Obligor
 Hazardous Material
 IFRS
 Impermissible Qualification
        inability to pay its debts cessation des paiements Zahlungsunfähigkeit Überschuldung drohende Zahlungsunfähigkeit
  B-9




---



##### 



Increased Costs
 Indebtedness
        insolvent Zahlungsunfähigkeit) drohende Zahlungsunfähigkeit Überschuldung
 Interest Period
  B-10




---



##### 



ISP
 Issuance Notice
 Issuing Bank
 Joinder Agreement
 Joint Venture
 LC Commitment provided however
 LC Facility
 LC Usage
 Lender
 Letter of Credit
 LIBOR
    Lien
  B-11




---



##### 



Lien hypotheek pandrecht eigendomsvoorbehoud voorrecht recht van retentie recht van reclame beperkte recht goederenrechtelijk
zekerheidsrecht
 Mandatory Cost
 Margin
 Market Disruption Event
 Material
 Material Adverse Effect
 Material Indebtedness
 Maturity Date
 Maximum Draw Amount
 Measurement Period
 moratorium surséance van betaling granted
a moratorium surséance verleend
 Multiemployer Plan
 NAIC
 Nedbank
  B-12




---



##### 



New LC Commitments
 Non-U.S. Plan
 Notes
 Notes Financing Agreements
 Obligations
 Obligors
 OFAC
 OFAC Listed Person
 OFAC Sanctions Program
 Officers Certificate
 Optional Currency
  B-13




---



##### 



Organizational Documents
 Original Financial Statements
 PBGC
 Permitted Assignee
 Permitted Jurisdiction
 Person
 Plan
 Preferred Stock
 Pre-taxation Profits
 Primary Credit Facility
 Priority Debt
  B-14




---



##### 



property properties
 Pyramid Freight
 Pyramid Freight BVI
 Pyramid Freight, South Africa
 Quotation Day
 RBS LC Agreement 24
 receiver administrator Insolvenzverwalter Sachwalter
 reconstruction apport partiel dactifs scission
 Reimbursement Date
 Release Date
 Relevant Interbank Market
 reorganization
 Responsible Officer
  B-15




---



##### 



Restricted Payment
    Screen Rate
   SEC
 SEC Report
 
    
    the Companys Annual Report on Form 10-K for the fiscal year ended
January 31, 2011, filed with the SEC on March 30. 2011;
 
    
    the Companys Quarterly Report on Form 10-Q for the quarter ended April
30, 2011, filed with the SEC on June 6, 2011; and
 
    
    the Companys Current Report on Form 8-K filed with the SEC on April
18, 2011.
   B-16




---



##### 



Senior Financial Officer
 Senior Indebtedness
 Significant Subsidiary
 South African Facilities
 South African Group
 South African Rand
 South African Subsidiary
 Spanish Obligor
 Spot Rate of Exchange provided
  B-17




---



##### 



Subordinated Indebtedness
 Subsidiary
 Subsidiary Guarantee Agreement
 Subsidiary Guarantor
     provided
      B-18




---



##### 



B-19




---



##### 



Summary of Terms 4
 Synthetic Lease
 Tax
 Tax Deduction
 Taxing Jurisdiction
 trustee
 Unpaid Sum
 U.S. Dollar Amount
 U.S. Guarantor
 USA PATRIOT Act
 Wholly-Owned Subsidiary
 winding-up, administration or dissolution redressement judiciaire, cession totale de lenterprise or liquidation judiciaire or a procedure de
sauvegade unde Livre Sixiene
  B-20