Document:

Letter of Credit Agreement

 Exhibit 10.2 
 EXECUTION 
  
  

 
 LETTER OF CREDIT AGREEMENT

 Dated as of March 23, 2012 
 among 
 PETSMART, INC., 

as the Lead Borrower 
 For 
 The Borrowers Named Herein 

The Guarantors Named Herein 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as L/C Issuer 

 
  

 

 Table of Contents 

 

									
	 	  	 	  	Page	 
			
	Article I	  	DEFINITIONS AND ACCOUNTING TERMS	  	 	1	  
				
		  	1.01	  	Defined Terms	  	 	1	  
				
		  	1.02	  	Other Interpretive Provisions	  	 	12	  
				
		  	1.03	  	Accounting Terms Generally	  	 	13	  
				
		  	1.04	  	Times of Day	  	 	14	  
				
		  	1.05	  	Letter of Credit Amounts	  	 	14	  
			
	Article II	  	LETTERS OF CREDIT	  	 	14	  
				
		  	2.01	  	Letters of Credit	  	 	14	  
				
		  	2.02	  	Termination or Reduction of Commitments	  	 	20	  
				
		  	2.03	  	Computation of Interest and Fees	  	 	20	  
				
		  	2.04	  	Payments Generally	  	 	20	  
			
	Article III	  	TAXES, YIELD PROTECTION AND ILLEGALITY; APPOINTMENT OF LEAD BORROWER	  	 	20	  
				
		  	3.01	  	Taxes	  	 	20	  
				
		  	3.02	  	Increased Costs; Reserves on Letters of Credit	  	 	21	  
				
		  	3.03	  	Survival	  	 	23	  
				
		  	3.04	  	Designation of Lead Borrower as Borrowers’ Agent	  	 	23	  
			
	Article IV	  	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	  	 	23	  
				
		  	4.01	  	Conditions of Initial L/C Credit Extension	  	 	23	  
				
		  	4.02	  	Conditions to all Credit Extensions	  	 	25	  
			
	Article V	  	REPRESENTATIONS AND WARRANTIES	  	 	26	  
				
		  	5.01	  	Existence, Qualification and Power	  	 	26	  
				
		  	5.02	  	Authorization; No Contravention	  	 	26	  
				
		  	5.03	  	Governmental Authorization; Other Consents	  	 	27	  
				
		  	5.04	  	Binding Effect	  	 	27	  
				
		  	5.05	  	Litigation	  	 	27	  
				
		  	5.06	  	Margin Regulations; Investment Company Act	  	 	27	  
				
		  	5.07	  	Disclosure	  	 	27	  
				
		  	5.08	  	Compliance with Laws	  	 	28	  
				
		  	5.09	  	Security Documents	  	 	28	  
				
		  	5.10	  	Solvency	  	 	28	  
			
	Article VI	  	AFFIRMATIVE COVENANTS	  	 	28	  

  
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 Table of Contents 

 

									
	 	  	 	  	 	  	Page	 
				
		  	6.01	  	Financial Statements	  	 	28	  
				
		  	6.02	  	Certificates; Other Information	  	 	29	  
				
		  	6.03	  	Notices	  	 	30	  
				
		  	6.04	  	Payment of Obligations	  	 	30	  
				
		  	6.05	  	Preservation of Existence, Etc	  	 	30	  
				
		  	6.06	  	Maintenance of Properties	  	 	30	  
				
		  	6.07	  	Compliance with Laws	  	 	30	  
				
		  	6.08	  	Books and Records; Accountants	  	 	31	  
				
		  	6.09	  	Use of Proceeds	  	 	31	  
				
		  	6.10	  	Further Assurances	  	 	31	  
			
	Article VII	  	NEGATIVE COVENANTS	  	 	31	  
				
		  	7.01	  	Liens; Collateral Dispositions	  	 	31	  
				
		  	7.02	  	Fundamental Changes	  	 	31	  
				
		  	7.03	  	Use of Proceeds	  	 	32	  
				
		  	7.04	  	Amendment of Material Documents	  	 	32	  
				
		  	7.05	  	Line of Business	  	 	32	  
			
	Article VIII	  	EVENTS OF DEFAULT AND REMEDIES	  	 	32	  
				
		  	8.01	  	Events of Default	  	 	32	  
				
		  	8.02	  	Remedies Upon Event of Default	  	 	35	  
				
		  	8.03	  	Application of Funds	  	 	35	  
			
	Article IX	  	RESERVED	  	 	36	  
			
	Article X	  	MISCELLANEOUS	  	 	36	  
				
		  	10.02	  	Notices; Effectiveness; Electronic Communications	  	 	36	  
				
		  	10.03	  	No Waiver; Cumulative Remedies	  	 	37	  
				
		  	10.04	  	Expenses; Indemnity; Damage Waiver	  	 	37	  
				
		  	10.05	  	Successors and Assigns	  	 	39	  
				
		  	10.06	  	Treatment of Certain Information; Confidentiality	  	 	39	  
				
		  	10.07	  	Right of Setoff	  	 	40	  
				
		  	10.08	  	Interest Rate Limitation	  	 	41	  
				
		  	10.09	  	Counterparts; Integration; Effectiveness	  	 	41	  
				
		  	10.10	  	Survival	  	 	41	  
				
		  	10.11	  	Severability	  	 	42	  

  
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 Table of Contents 

 

									
	 	 	 	  	 	  	Page	 
				
		 	10.12	  	Governing Law; Jurisdiction; Etc	  	 	42	  
				
		 	10.13	  	Waiver of Jury Trial	  	 	43	  
				
		 	10.14	  	No Advisory or Fiduciary Responsibility	  	 	43	  
				
		 	10.15	  	USA PATRIOT Act Notice; Proceeds of Crime Act	  	 	44	  
				
		 	10.16	  	Foreign Asset Control Regulations	  	 	44	  
				
		 	10.17	  	Time of the Essence	  	 	45	  
				
		 	10.18	  	Press Releases	  	 	45	  
				
		 	10.19	  	Additional Waivers	  	 	45	  
				
		 	10.20	  	No Strict Construction	  	 	46	  
				
		 	10.21	  	Attachments	  	 	46	  

  
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 SCHEDULES 
  

			
	1.01	  	Borrowers
	1.02	  	Guarantors
	1.03	  	Lead Borrower’s Calendar
	10.02	  	L/C Issuer’s Office; Certain Addresses for Notices

 EXHIBITS 
  

			
		  	Form of
		
	A	  	Compliance Certificate

 LETTER OF CREDIT AGREEMENT 

This LETTER OF CREDIT AGREEMENT (“Agreement”) is entered into as of March 23, 2012, among 

PETSMART, INC., a Delaware corporation having a place of business at 19601 North 27th Avenue, Phoenix, AZ 85027 (the “Lead Borrower”),

 the Persons named on Schedule 1.01 hereto (collectively, the “Borrowers”), 

the Persons named on Schedule 1.02 hereto (collectively, the “Guarantors”), 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as L/C Issuer; 
 The Borrowers have requested that the L/C Issuer provide a facility for the issuance of Letters of Credit, and the L/C Issuer has indicated its willingness to provide such a facility on the terms and
conditions set forth herein. 
 In consideration of the mutual covenants and agreements herein contained, the parties hereto
covenant and agree as follows: 
 ARTICLE I 
 DEFINITIONS AND ACCOUNTING TERMS 
 1.01 Defined Terms. As used in
this Agreement, the following terms shall have the meanings set forth below: 
 “Act” shall have the meaning provided
in Section 10.15. 
 “Affiliate” means, with respect to any Person, (i) another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified, (ii) any director, officer, managing member, partner, trustee, or beneficiary of that Person, (iii) any
other Person directly or indirectly holding 10% or more of any class of the Equity Interests of that Person, and (iv) any other Person 10% or more of any class of whose Equity Interests is held directly or indirectly by that Person. 

“Agreement” means this Credit Agreement. 
 “Audited Financial Statements” means the audited consolidated balance sheet of the Lead Borrower and its Subsidiaries for the Fiscal Year ended January 30, 2011, and the related
consolidated statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Year of the Lead Borrower and its Subsidiaries, including the notes thereto. 

“Auto-Extension Letter of Credit” shall have the meaning specified in Section 2.01(b)(iii). 

 “Base Rate” means, for any day, a fluctuating rate per annum equal to the highest
of (a) the Federal Funds Rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the Adjusted LIBO Rate for an Interest Period of one month plus one percent (1.00%), or (c) the rate of interest in effect for
such day as publicly announced from time to time by Wells Fargo as its “prime rate.” The “prime rate” is a rate set by Wells Fargo based upon various factors including Wells Fargo’s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Wells Fargo shall take effect at the opening of business on the
day specified in the public announcement of such change. 
 “Borrowers” has the meaning specified in the introductory
paragraph hereto. 
 “Business” means businesses of the type conducted by the Loan Parties and their Subsidiaries on
the Closing Date and businesses reasonably related thereto. 
 “Business Day” means any day other than a Saturday,
Sunday or other day on which commercial banks are authorized to close under the Laws of the State of New York. 
 “Cash
Collateral Account” means a non-interest bearing account established by one or more of the Loan Parties with the L/C Issuer and under the sole and exclusive dominion and control of the L/C Issuer, in which deposits are required to be made in
accordance with Section 2.01(f). 
 “Cash Collateralize” has the meaning specified in
Section 2.01(f). Derivatives of such term have corresponding meanings. 
 “Change in Law” means the
occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation
or application thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided, however, for the purposes
of this Agreement: (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed
to be a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Change of Control” means an
event or series of events by which: 
 (a) any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934), but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of
any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, directly or indirectly, of 35% or more of the Equity Interests of the Lead Borrower

  
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entitled to vote for members of the board of directors or equivalent governing body of the Lead Borrower on a fully-diluted basis; or 

(b) during any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent
governing body of the Lead Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that
board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors); or 

(c) the Lead Borrower fails at any time to own, directly or indirectly, 100% of the Equity Interests of each other Loan
Party free and clear of all Liens other than Permitted Liens (as such term is defined in the Facility Credit Agreement), except where such failure is a result of a transaction permitted by the Loan Documents. 

“Closing Date” means March 23, 2012. 
 “Code” means the Internal Revenue Code of 1986, and the regulations promulgated thereunder, as amended and in effect. 
 “Collateral” means any and all “Collateral” as defined in any applicable Security Document and all other property that is or is intended under the terms of the Security Documents to be
subject to Liens in favor of the L/C Issuer. 
 “Commercial Letter of Credit” means any Letter of Credit issued for
the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party. 

“Commercial Letter of Credit Agreement” means the Commercial Letter of Credit Agreement relating to the issuance of a
Commercial Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Commitment” means the L/C
Issuer’s obligation, subject to the terms and conditions hereof, to make L/C Credit Extensions, as such amount may be reduced from time to time in accordance with Section 2.02. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit A. 

  
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 “Condensed” means, with respect to financial statements, the form of such
financial statements as is required to be filed with the 10-K or 10-Q filings with the SEC. 
 “Consolidated” means,
when used to modify a financial term, test, statement, or report of a Person, the application or preparation of such term, test, statement or report (as applicable) based upon the consolidation, in accordance with GAAP, of the financial condition or
operating results of such Person and its Subsidiaries. 
 “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Credit Party” or “Credit Parties” means (a) individually, (i) the L/C Issuer,
(ii) each beneficiary of each indemnification obligation undertaken by any Loan Party under any Loan Document, (iii) any other Person to whom Obligations under this Agreement and other Loan Documents are owing, and (iv) the successors
and assigns of each of the foregoing, and (b) collectively, all of the foregoing. 
 “Credit Party Expenses”
means, without limitation, all reasonable out-of-pocket expenses incurred in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; all customary fees and charges (as adjusted from
time to time) of the L/C Issuer with respect to the disbursement of funds (or the receipt of funds) to or for the account of Loan Parties (whether by wire transfer or otherwise), together with any out-of-pocket costs and expenses incurred in
connection therewith; and all reasonable out-of-pocket expenses incurred by the Credit Parties who are not the L/C Issuer or any Affiliate of any of them, after the occurrence and during the continuance of an Event of Default; provided that
such Credit Parties shall be entitled to reimbursement for no more than one counsel representing all such Credit Parties (absent a conflict of interest, in which case the Credit Parties may engage and be reimbursed for one additional counsel).

 “Debtor Relief Laws” means each of (i) the Bankruptcy Code of the United States and (ii) all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States, Canada, or other applicable jurisdictions
from time to time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition
that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate” means with respect to Letter of Credit Fees, a rate equal to the fee applicable to Standby Letters of Credit or Commercial Letters of Credit, as applicable, plus 2% per
annum. 
 “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (whether
in one transaction or in a series of transactions, and including any sale and leaseback transaction and any sale, transfer, license or other disposition) of any property (including, without limitation, any Equity Interests) by any Person, including
any sale, assignment, transfer 

  
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or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Dollars” and “$” mean lawful money of the United States. 

“Event of Default” has the meaning specified in Section 8.01. An Event of Default shall be deemed to be continuing
unless and until that Event of Default has been duly waived by the L/C Issuer. 
 “Excluded Taxes” means, with respect
to the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of the Loan Parties hereunder, (a) Taxes imposed on or measured by its overall net income (however denominated), franchise Taxes imposed on it
(imposed in lieu of net income taxes), and branch profits Taxes, in each case, by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or that are
Other Connection Taxes. 
 “Executive Order” has the meaning set forth in Section 10.16. 

“Facility Credit Agreement” means that certain Credit Agreement dated as of March 23, 2012 among the Borrower, Wells Fargo
National Association, as administrative agent, collateral agent and swing line lender, certain other borrowers and guarantors, Wells Fargo Capital Finance, LLC and the other lenders party thereto from time to time, as the same may be amended,
modified, supplemented or restated. 
 “Facility Guaranty” means the Guarantee made by the Guarantors in favor of the
L/C Issuer and the other Credit Parties, in form reasonably satisfactory to the L/C Issuer, as the same now exists or may hereafter be amended, modified, supplemented, renewed, restated or replaced. 

“FATCA” means current Section 1471 through 1474 of the Code or any amended version or successor provision that is
substantively similar to and, in each case, any regulations promulgated thereunder and any interpretation and other guidance issued in connection therewith. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged
by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be
such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be
the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Wells Fargo on such day on such transactions as determined by the L/C Issuer. 
 “Fiscal Month” means any fiscal month of any Fiscal Year, determined in accordance with the fiscal accounting calendar of the Loan Parties attached hereto as Schedule 1.03. 

  
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 “Fiscal Quarter” means any fiscal quarter of any Fiscal Year determined in
accordance with the fiscal accounting calendar of the Loan Parties attached hereto as Schedule 1.03. 
 “Fiscal
Year” means any period of twelve (12) Fiscal Months ending on the Sunday nearest to January 31 of any calendar year. 
 “Foreign Asset Control Regulations” has the meaning set forth in Section 10.16. 
 “Fronting Fee” has the meaning assigned to such term in Section 2.01(i). 
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the
circumstances as of the date of determination. 
 “Governmental Authority” means the government of the United States
or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Guarantor” means each party which is a guarantor under the Facility Credit Agreement. 
 “Honor Date” has the meaning specified in Section 2.01(c). 

“Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitees” has the meaning specified in Section 10.04(b). 

“Information” has the meaning specified in Section 10.06. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter Credit Application, the Standby Letter of Credit Agreement or Commercial Letter of Credit Agreement, as applicable, and
any other document, agreement and instrument entered into by the L/C Issuer and the Borrowers or in favor of the L/C Issuer and relating to any such Letter of Credit. 

  
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 “Joinder” means an agreement, in form satisfactory to the L/C Issuer pursuant to
which, among other things, a Person becomes a party to, and bound by the terms of, this Agreement and/or the other Loan Documents in the same capacity and to the same extent as either a Borrower or a Guarantor, as the L/C Issuer may determine.

 “Laws” means each international, foreign, Federal, state and local statute, treaty, rule, guideline, regulation,
ordinance, code and administrative or judicial precedent or authority, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and each applicable
administrative order, directed duty, request, license, authorization and permit of, and agreement with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Credit Extension” means the issuance of any Letter of Credit or extension of the expiry date thereof, or the increase of
the amount thereof. 
 “L/C Issuer” means Wells Fargo in its capacity as issuer of Letters of Credit hereunder, or any
successor issuer of Letters of Credit hereunder. The L/C Issuer may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the L/C Issuer and/or for such Affiliate to act as an advising, transferring, confirming
and/or nominated bank in connection with the issuance or administration of any such Letter of Credit, in which case the term “L/C Issuer” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

 “L/C Obligations” means, as at any date of determination, the aggregate undrawn amount available to be drawn under
all outstanding Letters of Credit. For purposes of computing the amounts available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.05. For all purposes of this
Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of any “rule” under the ISP or any article of UCP 600, such Letter of Credit
shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 
 “Lead Borrower” has
the meaning assigned to such term in the preamble of this Agreement. 
 “Lease” means any agreement, whether written
or oral, no matter how styled or structured, pursuant to which a Loan Party is entitled to the use or occupancy of any space in a structure, land, improvements or premises for any period of time. 

“Letter of Credit” means each Standby Letter of Credit and each Commercial Letter of Credit issued hereunder. 

“Letter of Credit Application” means an application for the issuance or amendment of a Letter of Credit in the form from time
to time in use by the L/C Issuer. 
 “Letter of Credit Expiration Date” means the day that is seven days prior to the
Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 

  
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 “Letter of Credit Fee” has the meaning specified in Section 2.01(h).

 “Lien” means (a) any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever and, with respect to any Loan Parties organized
under the laws of Canada, also includes any deemed trust or prior claim in, or of such asset, and (b) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” means this Agreement, each Issuer Document, the Cash Collateral Account Agreements, the Security Documents,
the Facility Guaranty, and any other instrument or agreement now or hereafter executed and delivered in connection herewith, each as amended and in effect from time to time. 
 “Loan Parties” means, collectively, the Borrowers and each Guarantor. 

“Make Whole Amount” means an amount equal to (x) $50,000 minus (y) the amount of fees, if a positive number,
the L/C Issuer has actually earned and been paid in Fronting Fees and Letter of Credit Fees for the issuances of Letters of Credit from the Closing Date to the earlier of (x) the date of termination of the Agreement and (y) March 23,
2013. 
 “Margin Stock” has the meaning assigned to such term in Regulation U of the FRB, as from time to time in
effect, and all official rulings and interpretations thereunder or thereof. 
 “Material Adverse Effect” means
(a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, or financial condition of the Lead Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of any
Loan Party to perform its obligations under any Loan Document to which it is a party; or (c) a material impairment of the rights and remedies of the L/C Issuer under any Loan Document or a material adverse effect upon the legality, validity,
binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. 
 “Material
Indebtedness” means Indebtedness (other than the Obligations) of the Loan Parties in an aggregate principal amount exceeding $25,000,000. For purposes of determining the amount of Material Indebtedness at any time, (a) the amount of the
obligations in respect of any Swap Contract at such time shall be calculated at the Swap Termination Value thereof, (b) undrawn committed or available amounts shall be included, and (c) all amounts owing to all creditors under any combined
or syndicated credit arrangement shall be included. 
 “Maturity Date” means the earlier of (x) March 23,
2017 and (y) the termination of the Facility Credit Agreement. 
 “Maximum Rate” has the meaning provided
therefor in Section 10.08. 
 “Non-Extension Notice Date” has the meaning specified in
Section 2.01(b)(iii). 
 “Obligations” means all advances to, and debts (including principal, interest,
fees, costs, and expenses), liabilities, obligations, covenants, indemnities, and duties of, any Loan Party 

  
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arising under any Loan Document or otherwise with respect to any Letter of Credit (including, without limitation, payments in respect of reimbursement of disbursements and L/C Obligations,
interest thereon and obligations to provide cash collateral therefor), whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, fees,
costs, expenses and indemnities that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such
interest ,fees, costs, expenses and indemnities are allowed claims in such proceeding and the obligation to pay the Make Whole Amount. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with
respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement (or equivalent or comparable constitutive documents with respect to any
non-U.S. jurisdiction; (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing
or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or
organization of such entity; (d) with respect to any unlimited liability company, the memorandum of association and articles of association; and (e) in each case, all shareholder or other equity holder agreements, voting trusts and similar
arrangements to which such Person is a party or which is applicable to its Equity Interests and all other arrangements relating to the Control or management of such Person. 
 “Other Connection Taxes” means, with respect to the L/C Issuer, any other recipient of any payment to be made by or on account of any obligation of the Loan Parties hereunder, Taxes on or
measured by overall net income imposed as a result of a present or former connection (including a present or former connection of its agents) between such Person and the jurisdiction imposing such Tax (other than connections arising solely from such
Person having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Documents, or sold or
assigned an interest in any Loan Documents). 
 “Other Taxes” means all present or future stamp or documentary taxes
or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other
Loan Document. 
 “Participant” has the meaning specified in Section 10.05(b). 

“Participation Register” has the meaning provided therefor in Section 10.05(b). 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, limited partnership, Governmental Authority or other entity. 

  
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 “Registered Public Accounting Firm” has the meaning specified by the Securities
Laws and shall be independent of the Lead Borrower and its Subsidiaries as prescribed by the Securities Laws of recognized national standing. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s
Affiliates. 
 “Request for Credit Extension” means a Letter of Credit Application and, if required by the L/C Issuer,
a Standby Letter of Credit Agreement or Commercial Letter of Credit Agreement, as applicable. 
 “Responsible Officer”
means the chief executive officer, president, chief financial officer, vice president of treasury, treasurer or assistant treasurer of a Loan Party or any of the other individuals designated in writing to the L/C Issuer by an existing Responsible
Officer of a Loan Party as an authorized signatory of any certificate or other document to be delivered hereunder. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

 “Securities Laws” means, collectively, (i) the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley, and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the PCAOB and (ii) all applicable securities laws in each province and territory of Canada
and the respective regulations, rules regulations, blanket orders and blanket rulings under such laws, together with applicable published policy statements and notices of the securities regulator of each such province and territory. 

“Security Agreement” means the Security Agreement dated as of the Closing Date among the Borrower and the L/C Issuer, as the
same now exists or may hereafter be amended, modified, supplemented, renewed, restated or replaced. 
 “Security
Documents” means the Security Agreement, any written agreement regarding any Cash Collateral Account, and each other security agreement or other instrument or document executed and delivered to the L/C Issuer pursuant to this Agreement or any
other Loan Document granting a Lien to secure any of the Obligations. 
 “Shareholders’ Equity” means, as of any
date of determination, consolidated shareholders’ equity of the Lead Borrower and its Subsidiaries as of that date determined in accordance with GAAP. 

  
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 “Solvent” and “Solvency” means, with respect to any Person on a
particular date, that on such date (a) at fair valuation, all of the properties and assets of such Person are greater than the sum of the debts, including contingent liabilities, of such Person, (b) the present fair saleable value of the
properties and assets of such Person is not less than the amount that would be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person is able to realize upon its properties and
assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (d) such Person does not intend to, and does not believe that it will, incur debts beyond such
Person’s ability to pay as such debts mature, and (e) such Person is not engaged in a business or a transaction, and is not about to engage in a business or transaction, for which such Person’s properties and assets would constitute
unreasonably small capital after giving due consideration to the prevailing practices in the industry in which such Person is engaged. The amount of all guarantees at any time shall be computed as the amount that, in light of all the facts and
circumstances existing at the time, can reasonably be expected to become an actual or matured liability. 
 “Standby Letter
of Credit” means any Letter of Credit that is not a Commercial Letter of Credit and that (a) is used in lieu or in support of performance guaranties or performance, surety or similar bonds (excluding appeal bonds) arising in the ordinary
course of business, (b) is used in lieu or in support of stay or appeal bonds, (c) supports the payment of insurance premiums for reasonably necessary casualty insurance carried by any of the Loan Parties, or (d) supports payment or
performance for identified purchases or exchanges of products or services in the ordinary course of business. 
 “Standby
Letter of Credit Agreement” means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer. 

“Stated Amount” means at any time the maximum amount for which a Letter of Credit may be honored. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of
which a majority of the Equity Interests having ordinary voting power for the election of directors or other governing body are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one
or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of a Loan Party. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), 

  
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whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the
terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts,
(a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the
amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include any
Affiliate of the L/C Issuer). 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Total Outstandings” means the amount of all L/C Obligations outstanding on a date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate
amount of the L/C Obligations as of such date. 
 “Trading with the Enemy Act” has the meaning set forth in
Section 10.16. 
 “UCC” or “Uniform Commercial Code” means the Uniform Commercial Code as in
effect from time to time in the State of New York; provided, however, that if a term is defined in Article 9 of the Uniform Commercial Code differently than in another Article thereof, the term shall have the meaning set forth in
Article 9; provided, further, that if by reason of mandatory provisions of law, perfection, or the effect of perfection or non-perfection, of a security interest in any Collateral or the availability of any remedy hereunder is governed
by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “Uniform Commercial Code” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such
perfection or effect of perfection or non-perfection or availability of such remedy, as the case may be. 
 “UCP 600”
means the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce and in effect as of July 1, 2007 (or such later version thereof as may be in effect at the time of
issuance). 
 “United States” and “U.S.” mean the United States of America. 

“Wells Fargo” means Wells Fargo Bank, National Association and its successors. 

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 

  
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 (a) The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by
the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any
agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words
“herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof,
(iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any
reference to any law shall include all statutory and regulatory provisions consolidating, amending replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as
amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights. 
 (b) In the computation of periods of time from a specified date to
a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.”

 (c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not
affect the interpretation of this Agreement or any other Loan Document. 
 (d) Any reference herein or in any other Loan
Document to the satisfaction, repayment, or payment in full of the Obligations shall mean the repayment in Dollars in full in cash or immediately available funds of all of the Obligations (including the payment of any termination amount then
applicable other than unasserted contingent indemnification Obligations. 
 (e) All references to the knowledge of any Loan
Party or to facts known by any Loan Party shall mean actual knowledge of a Responsible Officer, which actual knowledge shall also include, without limitation, any notice that has been given to a Responsible Officer of a Loan Party or of any of its
Subsidiaries or any division of such Loan Party, as the case may be. 
 1.03 Accounting Terms Generally. All accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all financial data required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in
effect from time to time, applied in a manner consistent with that used 

  
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in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 
 1.04 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

1.05 Letter of Credit Amounts. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time
shall be deemed to be the Stated Amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms of any Issuer Documents related thereto, provides for one or more
automatic increases in the Stated Amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum Stated Amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum Stated Amount is in
effect at such time. 
 ARTICLE II  
 LETTERS OF CREDIT 
 2.01 Letters of Credit. 

(a) The Letter of Credit Commitment. 
 (i) Subject to the terms and conditions set forth herein, the L/C Issuer agrees (1) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration
Date, to issue Letters of Credit for the account of the Borrowers, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.01(b) below, and (2) to honor drawings under the Letters of Credit;
provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, so long as the Total Outstandings shall not exceed the Commitment. Each request by the Lead Borrower for the issuance or amendment of a Letter
of Credit shall be deemed to be a representation by the Borrowers that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, the Borrowers’ ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrowers may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have
been drawn upon and reimbursed. 
 (ii) No Letter of Credit shall be issued if: 

(A) subject to Section 2.01(b)(iii), the expiry date of such requested Standby Letter of Credit would occur
more than twelve months after the date of issuance or last extension, unless the L/C Issuer has approved such expiry date; or 
 (B) subject to Section 2.01(b)(iii), the expiry date of such requested Commercial Letter of Credit would occur more than one year after the date of issuance or last extension, unless the L/C
Issuer has approved such expiry date; or 

  
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 (C) the expiry date of such requested Letter of Credit would occur after
the Letter of Credit Expiration Date, unless such Letter of Credit continues to be Cash Collateralized. 
 (iii)
No Letter of Credit shall be issued if: 
 (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental
Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such
Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which
was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 
 (B) the
issuance of such Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally; 
 (C) reserved; 
 (D) such Letter of Credit is to be denominated in
a currency other than Dollars; or 
 (E) such Letter of Credit contains any provisions for automatic
reinstatement of the Stated Amount after any drawing thereunder. 
 (iv) The L/C Issuer shall not amend any
Letter of Credit if (A) the L/C Issuer would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to
such Letter of Credit. 
 (b) Procedures for Issuance and Amendment of Letters of Credit Auto-Extension Letters of
Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the
Lead Borrower delivered to the L/C Issuer in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Lead Borrower. Such Letter of Credit Application must be received by the L/C Issuer not later
than 11:00 a.m. at least two Business Days (or such other date and time as the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a
request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a
Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the 

  
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documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder;
and (G) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer
(A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may require. Additionally,
the Lead Borrower shall furnish to the L/C Issuer such other documents and information pertaining to such requested Letter of Credit issuance or amendment, and any Issuer Documents (including, if requested by the L/C Issuer, a Standby Letter of
Credit Agreement or Commercial Letter of Credit Agreement, as applicable), as the L/C Issuer may require. 
 (ii)
Unless the L/C Issuer has received written notice from any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article
IV shall not then be satisfied or unless the L/C Issuer would not be permitted, or would have no obligation, at such time, to issue such Letter of Credit under the terms hereof (by reason of the provisions of clause (ii) or (iii) of
Section 2.01(a) or otherwise), then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the applicable Borrower (or the applicable Subsidiary) or enter
into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. 
 (iii) If the Lead Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Standby Letter of Credit that has automatic
extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period
(commencing with the date of issuance of such Standby Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at
the time such Standby Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Lead Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. 

(iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Lead Borrower a true and complete copy of such Letter of Credit or amendment. 
 (c) Drawings and Reimbursements; Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify the Lead Borrower thereof not less than two (2) Business Days prior to the Honor Date (as defined below); provided, however, that any failure to give or delay in giving such notice shall not relieve the Borrowers of their
obligation to reimburse the L/C Issuer with respect to any such payment. On the date of any payment by the L/C Issuer under a 

  
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Letter of Credit (each such date, an “Honor Date”), the Borrowers shall be deemed to have authorized the L/C Issuer to withdraw from the Cash Collateral Account such amount to be
disbursed on the Honor Date in an amount equal to the amount of such payment. Any notice given by the L/C Issuer pursuant to this Section 2.01(c) may be given by telephone if immediately confirmed in writing; provided that the
lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (d)
Obligations Absolute. The obligation of the Borrowers to reimburse the L/C Issuer for each drawing under each Letter of Credit shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following: 
 (i) any lack of validity or enforceability of such
Letter of Credit, this Agreement, or any other Loan Document; 
 (ii) the existence of any claim, counterclaim,
setoff, defense or other right that the Borrowers or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C
Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit; 
 (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the
benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; 

(v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrowers or any of their Subsidiaries; or 
 (vi) the fact that any Default or Event of Default shall have occurred and be continuing. 
 The Lead Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Lead Borrower’s
instructions or other irregularity, the Lead Borrower will immediately 

  
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notify the L/C Issuer. The Borrowers shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 

(e) Role of L/C Issuer. The Borrowers agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have
any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the
Person executing or delivering any such document. The Borrowers hereby assume all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption
is not intended to, and shall not, preclude the Borrowers’ pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. Neither the L/C Issuer, any of its respective Related Parties
nor any correspondent, participant or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.01(d) or for any action, neglect or omission under or in
connection with any Letter of Credit or Issuer Documents, including, without limitation, the issuance or any amendment of any Letter of Credit, the failure to issue or amend any Letter of Credit, or the honoring or dishonoring of any demand under
any Letter of Credit, and such action or neglect or omission will bind the Borrowers; provided, however, that anything in such clauses to the contrary notwithstanding, the Borrowers may have a claim against the L/C Issuer, and the L/C
Issuer may be liable to the Borrowers, to the extent, but only to the extent, of any direct, as opposed to consequential, exemplary or punitive damages suffered by the Borrowers which the Borrowers prove were caused by the L/C Issuer’s willful
misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a
Letter of Credit; provided further, however, that any claim against the L/C Issuer by the Borrowers for any loss suffered or incurred by the Borrowers shall be reduced by an amount equal to the sum of (i) the amount (if
any) saved by the Borrowers as a result of the breach or other wrongful conduct that allegedly caused such loss, and (ii) the amount (if any) of the loss that would have been avoided had the Borrowers taken all reasonable steps to mitigate such
loss, including, without limitation, by enforcing their rights against any beneficiary and, in case of a claim of wrongful dishonor, by specifically and timely authorizing the L/C Issuer to cure such dishonor. In furtherance and not in limitation of
the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary (or the L/C Issuer may refuse to accept and make
payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit and may disregard any requirement in a Letter of Credit that notice of dishonor be given in a particular manner and any requirement
that presentation be made at a particular place or by a particular time of day), and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of
Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. The L/C Issuer shall not be responsible for the wording of any Letter of Credit (including, without
limitation, any drawing conditions or any terms or conditions that are ineffective, ambiguous, inconsistent, unduly complicated or reasonably impossible to satisfy), notwithstanding any assistance the L/C Issuer may provide to the Borrowers with
drafting or recommending text for any Letter of Credit Application or with the structuring of any transaction related to any Letter of Credit, and the Borrowers hereby 

  
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acknowledge and agree that any such assistance will not constitute legal or other advice by the L/C Issuer or any representation or warranty by the L/C Issuer that any such wording or such Letter
of Credit will be effective. Without limiting the foregoing, the L/C Issuer may, as it deems appropriate, modify or alter and use in any Letter of Credit the terminology contained on the Letter of Credit Application for such Letter of Credit.

 (f) Cash Collateral. The Borrowers shall Cash Collateralize each L/C Credit Extension prior to the issuance of any
Letter of Credit. “Cash Collateralize” means to pledge and deposit with or deliver to the L/C Issuer, as collateral for any L/C Credit Extension, cash in an amount equal to 103% of the face amount of any L/C Credit Extension (other
than L/C Credit Extensions with respect to Letters of Credit denominated in a currency other than Dollars which the L/C Issuer, in its sole discretion, elected to issue, which shall be Cash Collateralized in an amount equal to 115% of the face
amount of such L/C Credit Extension), pursuant to documentation in form and substance satisfactory to the L/C Issuer. The Borrowers hereby grant to the L/C Issuer a security interest in all such cash, deposit accounts and all balances therein and
all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit account at Wells Fargo (referred to as “Cash Collateral Account”). If at any time the L/C Issuer determines that any funds
held as Cash Collateral are subject to any right or claim of any Person other than the L/C Issuer or that the total amount of such funds is less than the Total Outstandings of all L/C Obligations, the Borrowers will, forthwith upon demand by the L/C
Issuer, pay to the L/C Issuer, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate Total Outstandings over (y) the total amount of funds, if any, then held as Cash Collateral that the
L/C Issuer determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit, such funds shall be applied, to the extent permitted under applicable Laws, to reimburse the L/C Issuer and, to the extent not so
applied, shall thereafter be applied to satisfy any other Obligations. 
 (g) Applicability of ISP and UCP 600. Unless
otherwise expressly agreed by the L/C Issuer and the Lead Borrower when a Letter of Credit is issued, (i) the rules of the ISP and the UCP 600 shall apply to each Standby Letter of Credit, and (ii) the rules of the UCP 600 shall apply to
each Commercial Letter of Credit. 
 (h) Letter of Credit Fees. The Borrowers shall pay to the L/C Issuer a Letter of
Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to 0.175% times the daily Stated Amount under each such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit). For
purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of the Letter of Credit shall be determined in accordance with Section 1.05. Letter of Credit Fees shall be (i) due and payable on
the first day after the end of each month commencing with the first such date to occur after the issuance of such Letter of Credit, and thereafter on demand, and (ii) computed on a monthly basis in arrears. Notwithstanding anything to the
contrary contained herein, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 
 (i)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay to the L/C Issuer a fronting fee (the “Fronting Fee”) (i) with respect to each Standby Letter of Credit, at a rate equal
to 0.025% per annum, computed on the amount of such Letter of Credit, and payable upon the issuance or amendment thereof, and (ii)

  
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with respect to each Commercial Letter of Credit, at a rate equal to 0.025% per annum, computed on the daily amount available to be drawn under such Letter of Credit and payable when such
Commercial Letter of Credit is drawn. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of the Letter of Credit shall be determined in accordance with Section 1.05. In addition, the
Borrowers shall pay to the L/C Issuer the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary
fees and standard costs and charges are due and payable on demand and are nonrefundable. 
 (j) Payment of Make Whole
Amount. If not sooner paid upon termination of this Agreement, on March 23, 2013 the Lead Borrower will pay the L/C Issuer the Make Whole Amount. 
 (k) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 

2.02 Termination or Reduction of Commitments. The Borrowers may, upon irrevocable notice from the Lead Borrower to the L/C Issuer,
terminate this Agreement; provided that if this Agreement is terminated on or before March 23, 2013, the Borrowers will simultaneously with such termination pay the L/C Issuer the Make Whole Amount. 

2.03 Computation of Interest and Fees. All computations of fees and interest shall be made on the basis of a 365-day or 366-day
year and actual days elapsed. Interest shall accrue on all L/C Obligations which are due and payable from the due date thereof until paid in cash. Each determination by the L/C Issuer of an interest rate or fee hereunder shall be conclusive and
binding for all purposes, absent manifest error. 
 2.04 Payments Generally. All payments to be made by the Borrowers
shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder shall be made to the L/C Issuer at the office or to the account
designated by the L/C Issuer in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. All payments received by the L/C Issuer after 2:00 p.m., at the option of the L/C Issuer, shall be deemed received on
the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrowers shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and
such extension of time shall be reflected in computing interest or fees, as the case may be. 
 ARTICLE III 

 TAXES, YIELD PROTECTION AND ILLEGALITY; 
 APPOINTMENT OF LEAD BORROWER 
 3.01 Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrowers hereunder or under any other
Loan Document shall be made free and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes; 

  
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provided that if the Borrowers shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be
increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the L/C Issuer receives an amount equal to the sum it would have received had no such deductions been
made, (ii) the Borrowers shall make such deductions and (iii) the Borrowers shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) Payment of Other Taxes by the Borrowers. Without limiting the provisions of subsection (a) above, the Borrowers shall
timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
 (c) Indemnification
by the Loan Parties. The Loan Parties shall indemnify the L/C Issuer, within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) paid by the L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Lead Borrower by the L/C Issuer shall be conclusive absent manifest error. 

(d) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrowers to a
Governmental Authority, the Lead Borrower shall deliver to the L/C Issuer the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of
such payment reasonably satisfactory to the L/C Issuer. 
 (e) Treatment of Certain Refunds. If the L/C Issuer
determines, in its sole discretion, that it has received a refund or a credit against any Tax for any Taxes or Other Taxes as to which it has been indemnified by the Borrowers or with respect to which the Borrowers have paid additional amounts
pursuant to this Section, it shall pay to the Borrowers an amount equal to such refund or credit (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrowers under this Section with respect to the Taxes or Other
Taxes giving rise to such refund or credit), net of all out-of-pocket expenses of the L/C Issuer and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund or credit); provided that
the Borrowers, upon the request of the L/C Issuer, agree to repay the amount paid over to the Borrowers (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the L/C Issuer in the event the L/C Issuer is
required to repay such refund or credit to such Governmental Authority. This subsection shall not be construed to require the L/C Issuer to make available its tax returns (or any other information relating to its taxes that it deems confidential) to
the Borrowers or any other Person. 
 3.02 Increased Costs; Reserves on Letters of Credit. 

(a) Increased Costs Generally. If any Change in Law shall: 

  
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 (i) impose, modify or deem applicable any reserve, special deposit,
compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, the L/C Issuer; 

(ii) subject the L/C Issuer to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any
participation in a Letter of Credit, or change the basis of taxation of payments to the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes covered by Section 3.01 and the imposition of, or any change in the rate
of, any Excluded Tax payable by the L/C Issuer); or 
 (iii) impose on the L/C Issuer any other condition, cost
or expense affecting this Agreement made by the L/C Issuer or any Letter of Credit or participation therein; 
 and the result of any of the
foregoing shall be to increase the cost to the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum
received or receivable by the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of the L/C Issuer, the Borrowers will pay to the L/C Issuer such additional amount or amounts as will compensate the L/C
Issuer for such additional costs incurred or reduction suffered. 
 (b) Capital Requirements. If the L/C Issuer
determines that any Change in Law affecting the L/C Issuer or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on the L/C Issuer’s capital or on the
capital of the L/C Issuer’s holding company, if any, as a consequence of this Agreement, or the Letters of Credit issued by the L/C Issuer, to a level below that which the L/C Issuer or the L/C Issuer’s holding company could have achieved
but for such Change in Law (taking into consideration the L/C Issuer’s policies and the policies of the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrowers will pay to the L/C Issuer such
additional amount or amounts as will compensate the L/C Issuer or the L/C Issuer’s holding company for any such reduction suffered. 
 (c) Certificates for Reimbursement. A certificate of the L/C Issuer setting forth the amount or amounts necessary to compensate the L/C Issuer or its holding company, as the case may be, as
specified in subsection (a) or (b) of this Section and delivered to the Lead Borrower shall be conclusive absent manifest error. The Borrowers shall pay the L/C Issuer, as the case may be, the amount shown as due on any such certificate
within 10 days after receipt thereof. 
 (d) Delay in Requests. Failure or delay on the part of the L/C Issuer to demand
compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of the L/C Issuer’s right to demand such compensation; provided that the Borrowers shall not be required to compensate the L/C Issuer
pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that the L/C Issuer notifies the Lead Borrower of the Change in Law giving rise to such increased
costs or reductions and of the L/C Issuer’s intention to claim compensation therefor 

  
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(except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of
retroactive effect thereof). 
 3.03 Survival. All of the Borrowers’ obligations under this Article
III shall survive termination of the Commitments and repayment of all Obligations hereunder. 
 3.04 Designation of Lead
Borrower as Borrowers’ Agent. 
 (a) Each Borrower hereby irrevocably designates and appoints the Lead
Borrower as such Borrower’s agent to obtain L/C Credit Extensions, the proceeds of which shall be available to each Borrower for such uses as are permitted under this Agreement. As the disclosed principal for its agent, each Borrower shall be
obligated to each Credit Party on account of L/C Credit Extensions so made as if made directly by the applicable Credit Party to such Borrower, notwithstanding the manner by which such L/C Credit Extensions are recorded on the books and records of
the Lead Borrower and of any other Borrower. In addition, each Loan Party other than the Borrowers hereby irrevocably designates and appoints the Lead Borrower as such Loan Party’s agent to represent such Loan Party in all respects under this
Agreement and the other Loan Documents. 
 (b) Each Borrower recognizes that credit available to it hereunder is in excess of
and on better terms than it otherwise could obtain on and for its own account and that one of the reasons therefor is its joining in the credit facility contemplated herein with all other Borrowers. Consequently, each Borrower hereby assumes and
agrees to discharge all Obligations of each of the other Borrowers. 
 (c) The Lead Borrower shall act as a conduit for each
Borrower (including itself, as a “Borrower”) on whose behalf the Lead Borrower has requested an L/C Credit Extension. Neither the L/C Issuer nor any other Credit Party shall have any obligation to see to the application of such proceeds
therefrom. 
 ARTICLE IV 
 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
 4.01 Conditions of Initial
L/C Credit Extension. The obligation of the L/C Issuer to make its initial L/C Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 

(a) The L/C Issuer’s receipt of the following, each of which shall be originals, telecopies or other electronic image scan
transmission (e.g., “pdf” or “tif” via e-mail) (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case
of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the L/C Issuer: 
 (i) executed counterparts of this Agreement sufficient in number for distribution to the L/C Issuer and the Lead Borrower; 

  
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 (ii) such certificates of resolutions or other action, incumbency
certificates and/or other certificates of Responsible Officers of each Loan Party as the L/C Issuer may require evidencing (A) the authority of each Loan Party to enter into this Agreement and the other Loan Documents to which such Loan Party
is a party or is to become a party and (B) the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such Loan
Party is a party or is to become a party; 
 (iii) copies of each Loan Party’s Organization Documents and
such other documents and certifications as the L/C Issuer may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to so qualify in such jurisdiction could not reasonably be expected to have a Material
Adverse Effect; 
 (iv) favorable opinions of Cooley LLP, counsel to the Loan Parties, addressed to the L/C
Issuer, as to such matters concerning the Loan Parties and the Loan Documents as the L/C Issuer may reasonably request; 
 (v) a certificate signed by a Responsible Officer of the Lead Borrower certifying (A) that the conditions specified in Sections 4.02(a) and 4.02(b) have been satisfied,
(B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect, (C) to the
Solvency of the Loan Parties as of the Closing Date after giving effect to the transactions contemplated hereby, and (D) either that (1) no consents, licenses or approvals are required in connection with the execution, delivery and
performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, or (2) that all such consents, licenses and approvals have been obtained and are in full force and effect; 

(vi) a termination letter from the agent for the lenders under the Letter of Credit Agreement dated as of June 30,
2006 between the Lead Borrower and Bank of America, N.A., as issuing bank, satisfactory in form and substance to the L/C Issuer evidencing that such Letter of Credit Agreement has been or concurrently with the Closing Date is being terminated, all
obligations thereunder are being paid in full, and all Liens securing obligations under such Letter of Credit Agreement have been or concurrently with the Closing Date are being released; 

(vii) the Security Documents; 
 (viii) all other Loan Documents, each duly executed by the applicable Loan Parties; 
 (ix) results of searches or other evidence reasonably satisfactory to the L/C Issuer (in each case dated as of a date reasonably satisfactory to the L/C Issuer)

  
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indicating the absence of Liens on the assets of the Loan Parties, except for Liens permitted under the Facility Credit Agreement and Liens for which termination statements and releases,
satisfactions and discharges of any mortgages, and releases or subordination agreements satisfactory to the L/C Issuer are being tendered concurrently with such extension of credit or other arrangements satisfactory to the L/C Issuer for the
delivery of such termination statements and releases, satisfactions and discharges have been made; 
 (x) such
other assurances, certificates, documents, consents or opinions as the L/C Issuer reasonably may require. 
 (b) There shall not
be pending any litigation or other proceeding, the result of which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 (c) The consummation of the transactions contemplated hereby shall not violate any applicable Law or any Organization Document. 
 (d) All fees and expenses required to be paid to the L/C Issuer on or before the Closing Date shall have been paid in full, and all fees and expenses required to be paid to the L/C Issuer on or before the
Closing Date shall have been paid in full. 
 (e) The Borrowers shall have paid all fees, charges and disbursements of counsel
to the L/C Issuer to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be
incurred by it through the Closing Date (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrowers and the L/C Issuer). 

(f) The L/C Issuer shall have received all documentation and other information required by regulatory authorities under applicable
“know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act. 
 (g) The Borrower shall have paid to the L/C Issuer the fees specified in the Fee Letter (as defined in the Facility Credit Agreement). 

4.02 Conditions to all Credit Extensions. The obligation of the L/C Issuer to honor any Request for Credit Extension is
subject to the following conditions precedent: 
 (a) The representations and warranties of each other Loan Party contained in
Article V or in any other Loan Document, shall be true and correct in all material respects on and as of the date of such L/C Credit Extension except (i) to the extent that such representations and warranties specifically refer to an
earlier date, in which case they shall be true and correct as of such earlier date and (ii) in the case of any representation and warranty qualified by materiality, they shall be true and correct in all respects; 

(b) No Default or Event of Default shall exist, or would result from such proposed L/C Credit Extension or from the application of the
proceeds thereof; 

  
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 (c) The L/C Issuer shall have received a Request for Credit Extension in accordance with the
requirements hereof; 
 (d) No event or circumstance which could reasonably be expected to result in a Material Adverse Effect
shall have occurred (in determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in and of itself does not have such effect, a Material Adverse Effect shall be deemed to have occurred if the
cumulative effect of such event and all other then existing events would result in a Material Adverse Effect); and 
 (e) The
Letters of Credit requested under any Request for Credit Extension shall have been Cash Collateralized. 
 Each Request for Credit Extension
submitted by the Borrower shall be deemed to be a representation and warranty by the Borrowers that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable L/C Credit
Extension. The conditions set forth in this Section 4.02 are for the sole benefit of the Credit Parties. 

ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 To induce the L/C Issuer to enter into
this Agreement and to issue Letters of Credit hereunder, each Loan Party represents and warrants to the L/C Issuer and the other Credit Parties that: 
 5.01 Existence, Qualification and Power. Each Loan Party and each Subsidiary thereof (a) is a corporation, limited liability company, unlimited liability company, partnership or
limited partnership, duly incorporated, organized or formed, validly existing and, where applicable, in good standing under the Laws of the jurisdiction of its incorporation, organization, or formation (b) has all requisite power and authority
and all requisite governmental licenses, permits, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is
a party, and (c) is duly qualified and is licensed and, where applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or
license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 5.02 Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party, has been duly
authorized by all necessary corporate or other organizational action, and does not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach, termination, or
contravention of, or constitute a default under, or require any payment to be made under any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; (c) result in or
require the creation of any Lien upon any asset of any Loan Party (other than Liens in favor of the L/C Issuer under the Security Documents); or (d) violate any Law. 

  
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 5.03 Governmental Authorization; Other Consents. No 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
Agreement or any other Loan Document, except for (a) filings and recordings necessary to perfect or maintain Liens created under the Security Documents (including the first priority nature thereof) or (b) such as have been obtained or made
and are in full force and effect. 
 5.04 Binding Effect. This Agreement has been, and each other Loan Document, when
delivered, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party,
enforceable against each Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 5.05 Litigation. There are
no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Loan Parties, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or any of its
Subsidiaries or against any of its properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) either individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect. 
 5.06 Margin Regulations; Investment Company Act.

 (a) No Loan Party is engaged or will be engaged, principally or as one of its important activities, in the business of
purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. None of the proceeds of the Letters of Credit shall be used directly or
indirectly for the purpose of purchasing or carrying any margin stock or for any other purpose that might cause any of the Letters of Credit to be considered a “purpose credit” within the meaning of Regulations T, U, or X issued by the
FRB. 
 (b) None of the Loan Parties, any Person Controlling any Loan Party, or any Subsidiary is or is required to be
registered as an “investment company” under the Investment Company Act of 1940. 
 (c) Less than 25% of the assets of
the Borrowers on a Consolidated basis consist of Margin Stock. 
 5.07 Disclosure. Each Loan Party has disclosed to the
L/C Issuer all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect. No report, financial statement, certificate or other written information furnished by or on behalf of any Loan Party to the L/C Issuer in connection with the transactions contemplated hereby and the negotiation of this
Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or 

  
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supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Loan Parties represent only that such information was prepared in good faith based upon assumptions believed to be
reasonable at the time. 
 5.08 Compliance with Laws. Each of the Loan Parties and each Subsidiary is in compliance in
all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is
being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

5.09 Security Documents. The Security Documents will create in favor of the L/C Issuer a legal, valid, continuing and enforceable
security interest in the Collateral, the enforceability of which is subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law. Upon such filings and/or the obtaining of “control” (as defined in the UCC), the L/C Issuer will have a perfected Lien on, and security interest in, to and under
all right, title and interest of the grantors thereunder in all Collateral that may be perfected by obtaining control, under the UCC (in effect on the date this representation is made) in each case prior and superior in right to any other Person.

 5.10 Solvency. After giving effect to the transactions contemplated by this Agreement, and before and after
giving effect to each L/C Credit Extension, the Loan Parties, on a Consolidated basis, are Solvent. No transfer of property has been or will be made by any Loan Party and no obligation has been or will be incurred by any Loan Party in connection
with the transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of any Loan Party. 

ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long as the L/C Issuer shall have any Commitment
hereunder, any Obligation hereunder shall remain unpaid or unsatisfied (other than contingent indemnification obligations for which a claim has not been asserted) , or any Letter of Credit shall remain outstanding, the Loan Parties shall, and shall
(except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause each Subsidiary to: 
 6.01 Financial Statements. Deliver to the L/C Issuer, in form and detail satisfactory to the L/C Issuer: 
 (a) as soon as available, but in any event within 90 days after the end of each Fiscal Year of the Lead Borrower (commencing with the Fiscal Year ended 2012), a Consolidated balance sheet of the Borrower
and its Subsidiaries as at the end of such Fiscal 

  
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Year, and the related consolidated statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Year, setting forth in each case in comparative form the figures
for the previous Fiscal Year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and unqualified opinion of a Registered Public Accounting Firm, which report and opinion shall be prepared in accordance
with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; 

(b) as soon as available, but in any event within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year of
the Lead Borrower (commencing with the Fiscal Quarter ended April 29, 2012), a Condensed Consolidated balance sheet of the Lead Borrower and its Subsidiaries as at the end of such Fiscal Quarter, and the Condensed related consolidated
statements of income or operations, and cash flows for such Fiscal Quarter and for the portion of the Lead Borrower’s Fiscal Year then ended, subject only to normal year-end audit adjustments and the absence of footnotes. 

6.02 Certificates; Other Information. Deliver to the L/C Issuer, in form and detail satisfactory to the L/C Issuer: 

(a) concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and 6.01(b) (commencing
with the delivery of the financial statements for the Fiscal Quarter ended April 29, 2012), a duly completed Compliance Certificate signed by a Responsible Officer of the Lead Borrower, and in the event of any change in generally accepted
accounting principles used in the preparation of such financial statements, the Lead Borrower shall also provide a statement of reconciliation conforming such financial statements to GAAP and (ii) a copy of management’s discussion and
analysis with respect to such financial statements; and 
 (b) at least ten (10) days prior written notice of any change in
Borrower’s or any of its Guarantor’s corporate name, (ii) in Borrower’s or any Guarantor’s corporate structure or jurisdiction of formation or (iii) in Borrower’s or any Guarantor’s federal taxpayer
identification number or organizational number assigned to it by its state of organization. 
 (c) promptly, such additional
information regarding the business affairs, financial condition or operations of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as the L/C Issuer may from time to time reasonably request. 

Documents required to be delivered pursuant to Sections 6.01(a), 6.01(b) or Section 6.02 (to the extent any such documents
are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Lead Borrower posts such documents, or provides a link thereto on
the Lead Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Lead Borrower’s behalf on an Internet or intranet website, if any, to which the L/C
Issuer has access (whether a commercial, third-party website or whether sponsored by the L/C Issuer). 

  
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 6.03 Notices. Promptly notify the L/C Issuer: 

(a) upon any senior officer, including, without limitation, any Responsible Officer of any Loan Party, obtaining actual knowledge of or
receiving notice of, the occurrence of any Default or Event of Default; and 
 (b) of any matter that has resulted or could
reasonably be expected to result in a Material Adverse Effect (in determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in and of itself does not have such effect, a Material Adverse
Effect shall be deemed to have occurred if the cumulative effect of such event and all other then existing events would result in a Material Adverse Effect). 
 6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental
charges or levies upon it or its properties or assets, (b) all lawful claims (including, without limitation, claims of landlords, warehousemen, customs brokers, freight forwarders, consolidators and carriers) which, if unpaid, would by law
become a Lien upon its property; and (c) all indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such indebtedness, except, in each case, where (a) the
validity or amount thereof is being contested in good faith by appropriate proceedings, (b) such Loan Party has set aside on its books adequate reserves with respect thereto in accordance with GAAP, (c) such contest effectively suspends
collection of the contested obligation and enforcement of any Lien securing such obligation, (d) no Lien has been filed with respect thereto and (e) the failure to make payment pending such contest could not reasonably be expected to
result in a Material Adverse Effect. 
 6.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in
full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization or formation except in a transaction permitted by Section 7.02; and (b) take all reasonable action to maintain all
rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; provided that
the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 7.02. 
 6.06 Maintenance of Properties. Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary
wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

6.07 Compliance with Laws. Comply in all material respects with the requirements of all Laws except where such non-compliance is
not material to the Business as conducted by the Borrowers and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction
or decree is being contested in good faith by appropriate proceedings diligently conducted and with respect to which adequate reserves have been set aside and maintained by the Loan Parties in accordance with GAAP; (b) such contest effectively
suspends enforcement of the contested 

  
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Laws, and (c) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
 6.08 Books and Records; Accountants. 
 (a) Maintain proper books of
record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Loan Parties or such Subsidiary, as the case
may be; and (ii) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Loan Parties or such Subsidiary, as the case may be.

 (b) At all times retain a Registered Public Accounting Firm and shall instruct such Registered Public Accounting Firm to
cooperate with, and be available to, the L/C Issuer or its representatives to discuss the Loan Parties’ financial performance, financial condition, operating results, controls, and such other matters, within the scope of the retention of such
Registered Public Accounting Firm, as may be raised by the L/C Issuer. 
 6.09 Use of Proceeds. Use the proceeds of the
Letters of Credit for working capital and other general corporate purposes of the Loan Parties. 
 6.10 Further
Assurances. Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements and other documents), that may be required under
any applicable Law, or which the L/C Issuer may request, to effectuate the transactions contemplated by the Loan Documents or to grant, preserve, protect or perfect the Liens created or intended to be created by the Security Documents or the
validity or priority of any such Lien, all at the expense of the Loan Parties. The Loan Parties also agree to provide to the L/C Issuer, from time to time upon request, evidence satisfactory to the L/C Issuer as to the perfection and priority of the
Liens created or intended to be created by the Security Documents. 
 ARTICLE VII 

NEGATIVE COVENANTS 
 So long as the L/C Issuer shall have any Commitment hereunder, any Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding (other than contingent
indemnification obligations for which a claim has not been asserted), no Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly: 
 7.01 Liens; Collateral Dispositions. Create, incur, assume or suffer to exist any Lien on any Collateral, nor sell, transfer, assign or otherwise dispose of any Collateral. 

7.02 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, (or agree to do any of the
foregoing), except that, so long as no Default or Event of Default shall have occurred and be continuing prior to or immediately after giving effect to any action described below or would result therefrom: 

  
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 (a) any Subsidiary which is not a Loan Party may merge or amalgamate with (i) a Loan
Party; provided that the Loan Party shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries which are not Loan Parties; provided that when any wholly-owned Subsidiary is merging with another
Subsidiary, the wholly-owned Subsidiary shall be the continuing or surviving Person; 
 (b) any Subsidiary which is a Loan Party
may merge into, or amalgamate with, any Subsidiary which is a Loan Party or into a Borrower; provided that in any merger involving a Borrower, such Borrower shall be the continuing or surviving Person; 

(c) in connection with a Permitted Acquisition (as defined in the Facility Credit Agreement), an Subsidiary of a Loan Party may merge or
amalgamate with or into or consolidate with any other Person or permit any other Person to merge or amalgamate with or into or consolidate with it; provided that (i) the Person surviving such merger or amalgamation shall be a
wholly-owned Subsidiary of a Loan Party and such Person shall become a Loan Party in accordance with the provisions of Section 6.12 of the Facility Credit Agreement, and (ii) in the case of any such merger to which any Loan Party is
a party, such Loan Party is the surviving Person; and 
 (d) any CFC (as defined in the Facility Credit Agreement) that is not a
Loan Party may merge into or amalgamate with any CFC that is not a Loan Party. 
 7.03 Use of Proceeds. Use the proceeds
of any Letter of Credit, whether directly or indirectly, and whether immediately, incidentally or ultimately, (a) to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of
purchasing or carrying margin stock; or (b) for purposes other than those permitted under this Agreement. 
 7.04
Amendment of Material Documents. Amend, modify or waive any of a Loan Party’s rights under its Organization Documents in a manner materially adverse to the Credit Parties. 

7.05 Line of Business. Engage in any line of business substantially different from the Business. 

ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the
following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrowers or any other Loan Party fails to pay
when and as required to be paid herein, (i) any L/C Obligation, or deposit any funds as Cash Collateral in the Cash Collateral Account in respect of L/C Obligations or the Make Whole Amount, or (ii) any interest on any L/C Obligation, or
any fee due hereunder within five (5) Business Days of the due date thereof, or (iii) any other amount payable hereunder or under any other Loan Document within five (5) Business Days of the due date thereof; or 

  
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 (b) Specific Covenants. (i) Any Loan Party fails to perform or observe any term,
covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05, 6.09, or Article VII; or 
 (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to
be performed or observed and such failure continues for 30 days after notice from the L/C Issuer to the Lead Borrower; or 
 (d)
Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of any Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in
connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or 
 (e)
Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due after giving effect to the expiration of any applicable grace or cure period set forth therein (whether by scheduled maturity,
required prepayment, acceleration, demand, or otherwise) in respect of any Material Indebtedness, or (B) fails to observe or perform any other agreement or condition relating to any such Material Indebtedness or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Material Indebtedness or the beneficiary or beneficiaries of any
Guarantee thereof (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased
or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or
(ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting
Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination
Value owed by the Loan Party or such Subsidiary, in the aggregate, for all Swap Contracts as a result thereof is greater than $25,000,000; or 
 (f) Insolvency Proceedings, Etc. Any Loan Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the
benefit of creditors; or applies for or consents to the appointment of any receiver, interim receiver, monitor, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or
a proceeding shall be commenced or a petition filed, without the application or consent of such Person, seeking or requesting the appointment of any receiver, interim receiver, monitor, trustee, custodian, conservator, liquidator, rehabilitator or
similar officer is appointed and the appointment continues undischarged, undismissed or unstayed for 45 calendar days or an order or decree approving or ordering any of the foregoing shall be entered; or any proceeding under any Debtor Relief Law
relating to any such Person or to all or any material part of its property is instituted 

  
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without the consent of such Person and continues undismissed or unstayed for 45 calendar days, or an order for relief is entered in any such proceeding; or 

(g) Inability to Pay Debts; Attachment. (i) Any Loan Party or any Subsidiary thereof becomes unable or admits in writing its
inability or fails generally to pay its debts as they become due in the ordinary course of business, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property
of any such Person and is not released, vacated or fully bonded within 10 days after its issuance or levy; or 
 (h)
Judgments. There is entered against any Loan Party or any Subsidiary thereof (i) one or more judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding $25,000,000 (to the extent
not covered by independent third-party insurance, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 20 consecutive days during which a stay of enforcement of such
judgment or order, by reason of a pending appeal or otherwise, is not in effect; or 
 (i) Invalidity of Loan Documents.
(i) Any provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and
effect; or any Loan Party or any of their Subsidiaries or Affiliates contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any
provision of any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document; or (ii) any Lien
purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party or any of their Subsidiaries or Affiliates not to be, a valid and perfected Lien on any Collateral, with the priority required by the
applicable Security Document; or 
 (j) Change of Control. There occurs any Change of Control; or 

(k) Cessation of Business. Except as otherwise expressly permitted hereunder, any Loan Party shall take any action to suspend the
operation of its business in the ordinary course, liquidate all or a material portion of its assets or store locations, or employ an agent or other third party to conduct a program of closings, liquidations or “Going-Out-Of-Business” sales
of any material portion of its business; or 
 (l) Indictment. The indictment of, or institution of any legal process or
proceeding against, any Loan Party, under any federal, state, municipal, and other civil or criminal statute, rule, regulation, order, or other requirement having the force of law where the relief, penalties, or remedies sought or available include
the forfeiture of any property of any Loan Party with an aggregate value equal to or greater than $5,000,000 and/or the imposition of 

  
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any stay or other order, the effect of which could reasonably be to restrain in any material way the conduct by the Loan Parties, taken as a whole, of their business in the ordinary course; or

 (m) Guaranty. The termination or attempted termination of any Facility Guaranty except as expressly permitted
hereunder or under any other Loan Document; or 
 (n) Facility Credit Agreement. There occurs any Event of Default, as
defined in the Facility Credit Agreement. 
 8.02 Remedies Upon Event of Default. If any Event of Default occurs and is
continuing, the L/C Issuer may take any or all of the following actions: 
 (a) declare all Obligations then outstanding to be
due and payable in whole and thereupon the Obligations so declared to be due and payable shall become due and payable immediately, without presentment, demand, protest or notice of any kind, all of which are hereby waived; 

(b) declare the Commitments and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such
Commitments and obligation shall be terminated and in the case of an Event of Default listed in Section 8.01(f) or (g), the Commitment shall automatically terminate; and 

(c) proceed to protect, enforce and exercise all rights and remedies of the Credit Parties under this Agreement, any of the other Loan
Documents or applicable Law, including, but not limited to, by suit in equity, action at law or other appropriate proceeding, whether for the specific performance of any covenant or agreement contained in this Agreement and the other Loan Documents
or any instrument pursuant to which the Obligations are evidenced, and, if such amount shall have become due, by declaration or otherwise, proceed to enforce the payment thereof or any other legal or equitable right of the Credit Parties.

 No remedy herein is intended to be exclusive of any other remedy and each and every remedy shall be cumulative and shall be
in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of Law. 
 8.03 Application of Funds. After the exercise of remedies provided for in Section 8.02 any amounts received on account of the Obligations shall be applied by the L/C Issuer in the
following order: 
 First, to payment of that portion of the Obligations constituting fees, Prepayment
Premium, indemnities, Credit Party Expenses and other amounts (including fees, charges and disbursements of counsel to the L/C Issuer and amounts payable under Article III) payable to the L/C Issuer; 

Second, to the L/C Issuer, to continue to Cash Collateralize that portion of L/C Obligations comprised of the
aggregate undrawn amount of Letters of Credit; 

  
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 Third, to payment of all other Obligations to the extent secured
under the Security Documents, ratably among the Credit Parties in proportion to the respective amounts described in this clause Third held by them; and 
 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Loan Parties or as otherwise required by Law. 

Subject to Section 2.01(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit shall be applied to satisfy
drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in
the order set forth above. 
 ARTICLE IX 
 RESERVED 
 ARTICLE X 

MISCELLANEOUS 
 (a) Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by any Loan Party therefrom, shall be effective unless in
writing signed by the L/C Issuer and the Lead Borrower, and acknowledged by the L/C Issuer. 
 10.02 Notices; Effectiveness;
Electronic Communications. 
 (a) Notices Generally. Except in the case of notices and other communications expressly
permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified
or registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Loan Parties or the L/C Issuer, to the address, telecopier number, electronic mail address or telephone
number specified for such Person on Schedule 10.02; and 
 (ii) Notices sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient,
shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in
such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Loan Parties and the L/C
Issuer hereunder may be delivered or furnished by electronic 

  
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communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the L/C Issuer. 
 Unless the L/C Issuer otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the
intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other communication is not sent during the normal business hours
of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed
received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

(c) Change of Address, Etc. Each of the Loan Parties and the L/C Issuer may change its address, telecopier or telephone number for
notices and other communications hereunder by notice to the other parties hereto. 
 (d) Reliance by L/C Issuer. The L/C
Issuer shall be entitled to rely and act upon any notices purportedly given by or on behalf of the Loan Parties even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other
form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Loan Parties shall indemnify the L/C Issuer and the Related Parties of each of them from all losses, costs,
expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Loan Parties. All telephonic notices to and other telephonic communications with the L/C Issuer may be recorded by the L/C
Issuer, and each of the parties hereto hereby consents to such recording. 
 10.03 No Waiver; Cumulative Remedies. No
failure by any Credit Party to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder or under any other Loan Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided herein and in the other Loan
Documents are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. Without limiting the generality of the foregoing, the issuance of a Letter of Credit shall not be construed as a waiver of any Default or
Event of Default, regardless of whether any Credit Party may have had notice or knowledge of such Default or Event of Default at the time. 
 10.04 Expenses; Indemnity; Damage Waiver. 
 (a) Costs and Expenses.
The Borrowers shall pay all Credit Party Expenses. 
 (b) Indemnification by the Loan Parties. The Loan Parties shall
indemnify the L/C Issuer, each Credit Party, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless (on an after tax basis) from, any and all
losses, claims, causes of action, damages, liabilities, settlement 

  
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payments, costs, and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third
party or by any Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit, any bank advising or confirming
a Letter of Credit or any other nominated person with respect to a Letter of Credit seeking to be reimbursed or indemnified or compensated, and any third party seeking to enforce the rights of a Borrower, beneficiary, nominated person, transferee,
assignee of Letter of Credit proceeds, or holder of an instrument or document related to any Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by any Loan Party
or any of its Subsidiaries, or any Environmental Liability related in any way to any Loan Party or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory, whether brought by a third party or by any Borrower or any other Loan Party or any of the Loan Parties’ directors, shareholders or creditors, and regardless of whether any Indemnitee is a
party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to
the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnitee or (y) result from a claim brought by a Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrowers or such Loan
Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 
 (c) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, the Loan Parties shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials
distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or
thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(d) Payments. All amounts due under this Section shall be payable on demand therefor. 

  
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 (e) Survival. The agreements in this Section shall survive the resignation of the L/C
Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all of the Obligations. 
 10.05
Successors and Assigns. 
 (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder or under any other Loan Document
without the prior written consent of the L/C Issuer 
 (b) Participations. The L/C Issuer may at any time, without the
consent of, or notice to, the Loan Parties, sell participations to any Person (other than a natural person or the Loan Parties or any of the Loan Parties’ Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion
of the L/C Issuer’s rights and/or obligations under this Agreement; provided that (i) such L/C Issuer’s obligations under this Agreement shall remain unchanged, (ii) such L/C Issuer shall remain solely responsible to the
other parties hereto for the performance of such obligations and (iii) the Loan Parties and the L/C Issuer shall continue to deal solely and directly with such L/C Issuer in connection with such L/C Issuer’s rights and obligations under
this Agreement. Any Participant shall agree in writing to comply with all confidentiality obligations set forth in Section 10.06 as if such Participant was an L/C Issuer hereunder. Any agreement or instrument pursuant to which an L/C
Issuer sells such a participation shall provide that such L/C Issuer shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement. Subject to subsection (e) of
this Section, the Loan Parties agree that each Participant shall be entitled to the benefits of Sections 3.01, 3.02 and 10.04 to the same extent as if it were an L/C Issuer. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.04 as though it were an L/C Issuer. The L/C Issuer shall maintain at its offices a record of each agreement or instrument effecting any participation and a register for the recordation
of the names and addresses of its Participants and their rights with respect to principal amounts and other Obligations from time to time (each a “Participation Register”). The entries in each Participation Register shall be
conclusive absent manifest error and the Loan Parties, the L/C Issuer and the Lead Borrower may treat each Person whose name is recorded in a Participant Register as a Participant for all purposes of this Agreement (including, for the avoidance of
doubt, for purposes of entitlement to benefits under Section 3.01, Section 3.02 and Section 10.04). The Participation Register shall be available for inspection by the Lead Borrower, at any reasonable time
and from time to time upon reasonable prior notice. 
 (c) Limitations upon Participant Rights. A Participant shall not
be entitled to receive any greater payment under Section 3.01 or 3.02 than the applicable L/C Issuer would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made with the Lead Borrower’s prior written consent. 
 10.06 Treatment of Certain
Information; Confidentiality. Each of the Credit Parties agrees to maintain the confidentiality of the Information (as defined below), except that 

  
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Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, funding sources, attorneys, advisors and
representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any
regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Laws or regulations or by any subpoena
or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Loan Party and its obligations, (g) with the consent of the
Lead Borrower or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to any Credit Party or any of their respective Affiliates on a
non-confidential basis from a source other than the Loan Parties. 
 For purposes of this Section,
“Information” means all information received from the Loan Parties or any Subsidiary thereof relating to the Loan Parties or any Subsidiary thereof or their respective businesses, other than any such information that is available to
any Credit Party on a non-confidential basis prior to disclosure by the Loan Parties or any Subsidiary thereof; provided that in the case of information received from any Loan Party or any Subsidiary after the Closing Date, such information
is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 Each of the Credit Parties acknowledges that (a) the Information may include material non-public information concerning the Loan Parties or a Subsidiary, as the case may be, (b) it has developed
compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and state securities Laws. 

10.07 Right of Setoff. If an Event of Default shall have occurred and be continuing, the L/C Issuer and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any
time held and other obligations (in whatever currency) at any time owing by the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrowers or any other Loan Party against any and all of the Obligations now or hereafter
existing under this Agreement or any other Loan Document to the L/C Issuer, regardless of the adequacy of the Collateral, and irrespective of whether or not the L/C Issuer shall have made any demand under this Agreement or any other Loan Document
and although such obligations of the Borrowers or such Loan Party may be contingent or unmatured or are owed to a branch or office of the L/C Issuer different from the 

  
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branch or office holding such deposit or obligated on such indebtedness. The rights of the L/C Issuer and its respective Affiliates under this Section are in addition to other rights and remedies
(including other rights of setoff) that the L/C Issuer or its respective Affiliates may have. The L/C Issuer agrees to notify the Lead Borrower promptly after any such setoff and application; provided that the failure to give such notice
shall not affect the validity of such setoff and application. 
 10.08 Interest Rate Limitation. Notwithstanding anything
to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the L/C
Issuer shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the Obligations or, at the L/C Issuer’s election, be deposited in the Cash Collateral Account. In determining whether the interest
contracted for, charged, or received by the L/C Issuer exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest,
(b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

10.09 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall
have been executed by the L/C Issuer and when the L/C Issuer shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy, pdf., or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. 
 10.10 Survival. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall
survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Credit Parties, regardless of any investigation made by any Credit Party or on their behalf and notwithstanding that
any Credit Party may have had notice or knowledge of any Default or Event of Default at the time of any L/C Credit Extension, and shall continue in full force and effect as long as any other Obligation hereunder shall remain unpaid or unsatisfied or
any Letter of Credit shall remain outstanding. Further, the provisions of Sections 3.01, 3.02 and 10.04 shall survive and remain in full force and effect regardless of the repayment of the Obligations, the expiration or
termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. In connection with the termination of this Agreement and the release and termination of the security interests in the Collateral,
the L/C Issuer may require such indemnities and collateral security as they shall reasonably deem necessary or appropriate to protect the Credit Parties against (x) loss on account of credits previously applied to the

  
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Obligations that may subsequently be reversed or revoked, and (y) any Obligations that may thereafter arise under Section 10.04. 

10.11 Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or
unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations
to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 10.12 Governing Law;
Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF, BUT INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) SUBMISSION TO JURISDICTION. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING
IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES SOUTHERN DISTRICT COURT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE LOAN PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE LOAN PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT
OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c) WAIVER OF VENUE. EACH LOAN PARTY
IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE LOAN 

  
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PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH
COURT. 
 (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR
NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 (e) ACTIONS COMMENCED BY LOAN PARTIES. EACH LOAN PARTY AGREES THAT ANY ACTION COMMENCED BY ANY LOAN PARTY ASSERTING ANY CLAIM OR COUNTERCLAIM ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT SHALL BE BROUGHT SOLELY IN A COURT OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN OR ANY FEDERAL COURT SITTING THEREIN AS THE L/C ISSUER MAY ELECT IN ITS SOLE DISCRETION AND CONSENTS TO THE EXCLUSIVE
JURISDICTION OF SUCH COURTS WITH RESPECT TO ANY SUCH ACTION. 
 10.13 Waiver of Jury Trial. EACH PARTY HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.14 No Advisory or Fiduciary Responsibility. In
connection with all aspects of each transaction contemplated hereby, the Loan Parties each acknowledge and agree that: (i) the credit facility provided for hereunder and any related arranging or other services in connection therewith (including
in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction between the Loan Parties, on the one hand, and the Credit Parties, on the other hand, and each of
the Loan Parties is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification
hereof or thereof); (ii) in connection with the process leading to such transaction, the each Credit Party is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for the Loan Parties or any of their
respective Affiliates, stockholders, creditors or employees or any other Person; (iii) none of the Credit Parties has assumed or will assume an advisory, agency or fiduciary responsibility in

  
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favor of the Loan Parties with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof
or of any other Loan Document (irrespective of whether any of the Credit Parties has advised or is currently advising any Loan Party or any of its Affiliates on other matters) and none of the Credit Parties has any obligation to any Loan Party or
any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; (iv) the Credit Parties and their respective Affiliates may be engaged in a broad
range of transactions that involve interests that differ from those of the Loan Parties and their respective Affiliates, and none of the Credit Parties has any obligation to disclose any of such interests by virtue of any advisory, agency or
fiduciary relationship; and (v) the Credit Parties have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other
modification hereof or of any other Loan Document) and each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. Each of the Loan Parties hereby waives and releases, to the
fullest extent permitted by law, any claims that it may have against each of the Credit Parties with respect to any breach or alleged breach of agency or fiduciary duty. 
 10.15 USA PATRIOT Act Notice; Proceeds of Crime Act. The L/C Issuer is subject to the Act (as hereinafter defined) and hereby notifies the Loan Parties that pursuant to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) and all applicable “know your customer” rules, regulations and procedures applicable to the L/C Issuer in Canada, it is required
to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow the L/C Issuer, as applicable, to identify each Loan Party in
accordance with the Act. Each Loan Party is in compliance, in all material respects, with the Patriot Act and the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (the “Proceeds of Crime Act”). No
part of the proceeds of any Letter of Credit will be used by the Loan Parties, directly or indirectly, for any purpose which would contravene or breach the Proceeds of Crime Act or for any payments to any governmental official or employee, political
party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt
Practices Act of 1977, as amended. 
 10.16 Foreign Asset Control Regulations. Neither of the issuance of any Letter of
Credit nor the use of the proceeds of any thereof will violate the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as amended) (the “Trading With the Enemy Act”) or any of the foreign assets control regulations of the United States
Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) (the “Foreign Assets Control Regulations”) or any enabling legislation or executive order relating thereto (which for the avoidance of doubt shall include, but shall
not be limited to (a) Executive Order 13224 of September 21, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the “Executive
Order”) and (b) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56)). Furthermore, none of the Borrowers or their Affiliates (a) is or
will become a “blocked person” as described in the Executive Order, the Trading With the Enemy Act or the Foreign Assets Control Regulations or (b) engages or will engage in any dealings or transactions,

  
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or be otherwise associated, with any such “blocked person” or in any manner violative of any such order. 
 10.17 Time of the Essence. Time is of the essence of the Loan Documents. 

10.18 Press Releases. Each Loan Party consents to the publication by the L/C Issuer of advertising material, including any
“tombstone” or comparable advertising, on its website or in other marketing materials of the L/C Issuer, relating to the financing transactions contemplated by this Agreement using any Loan Party’s name, product photographs, logo,
trademark or other insignia. The L/C Issuer shall provide a draft reasonably in advance of any advertising material to the Lead Borrower for review and comment prior to the publication thereof. The L/C Issuer reserves the right to provide to
industry trade organizations and loan syndication and pricing reporting services information necessary and customary for inclusion in league table measurements. 
 10.19 Additional Waivers. 
 (a) The Obligations are the joint and several
obligation of each Loan Party. To the fullest extent permitted by Applicable Law, the obligations of each Loan Party shall not be affected by (i) the failure of any Credit Party to assert any claim or demand or to enforce or exercise any right
or remedy against any other Loan Party under the provisions of this Agreement, any other Loan Document or otherwise, (ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions of, this
Agreement or any other Loan Document, or (iii) the failure to perfect any security interest in, or the release of, any of the Collateral or other security held by or on behalf of the L/C Issuer or any other Credit Party. 

(b) The obligations of each Loan Party shall not be subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Obligations after the termination of the Commitments), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be subject to any
defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Loan
Party hereunder shall not be discharged or impaired or otherwise affected by the failure of the L/C Issuer or any other Credit Party to assert any claim or demand or to enforce any remedy under this Agreement, any other Loan Document or any other
agreement, by any waiver or modification of any provision of any thereof, any default, failure or delay, willful or otherwise, in the performance of any of the Obligations, or by any other act or omission that may or might in any manner or to any
extent vary the risk of any Loan Party or that would otherwise operate as a discharge of any Loan Party as a matter of law or equity (other than the indefeasible payment in full in cash of all the Obligations after the termination of the
Commitments). 
 (c) To the fullest extent permitted by applicable Law, each Loan Party waives any defense based on or arising
out of any defense of any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Loan Party, other than the indefeasible payment in full in cash

  
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of all the Obligations and the termination of the Commitments. The L/C Issuer and the other Credit Parties may, at their election, foreclose on any security held by one or more of them by one or
more judicial or non-judicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with any other Loan Party, or exercise any other right or remedy
available to them against any other Loan Party, without affecting or impairing in any way the liability of any Loan Party hereunder except to the extent that all the Obligations have been indefeasibly paid in full in cash and the Commitments have
been terminated. Each Loan Party waives any defense arising out of any such election even though such election operates, pursuant to applicable Law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of
such Loan Party against any other Loan Party, as the case may be, or any security. 
 10.20 No Strict Construction. The
parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and
no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 10.21 Attachments. The exhibits, schedules and annexes attached to this Agreement are incorporated herein and shall be considered a part of this Agreement for the purposes stated herein, except
that in the event of any conflict between any of the provisions of such exhibits and the provisions of this Agreement, the provisions of this Agreement shall prevail. 

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

			
	 BORROWERS:

	
	PETSMART, INC.
	
	 PETSMART STORE SUPPORT GROUP, INC.

		
	By:	 	 /s/ Robert F. Moran

	Name:	 	Robert F. Moran
	Title:	 	Chief Executive Officer
	
	 GUARANTORS:

	
	 AUTHORITY PET FOOD COMPANY

	
	 PACIFIC COAST DISTRIBUTING, INC.

	
	 PETSCARD LCC

	
	 MAVERICK LEASING, INC.

	
	 PETSTUFF CANADA (USA) HOLDINGS, INC.

	
	 PETSTUFF NOVA SCOTIA, INC.

	
	 PET WISE INC.

	
	 PETSMART PUERTO RICO, LLC

	
	 SIMPLY NOURISH PET FOOD COMPANY

LLC

	
	 By: PETSMART, INC., its sole member and manager

		
	By:	 	 /s/ Robert F. Moran

	Name:	 	Robert F. Moran
	Title:	 	Chief Executive Officer
	
	

 Signature Page to Letter of Credit Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as L/C Issuer
		
	By:	 	 /s/ Robert C. Chakarian

	Name:	 	Robert C. Chakarian
	 Title:   Vice President

  
 Signature Page to Credit
AgreementLetter Agreement

 Exhibit 10.74 

 
 

 
 November 13, 2011 
 Daniel Walker 
 Dear Dan: 
 We are pleased to confirm our employment offer to you for the position of Chief Talent Officer of J. C. Penney Company, Inc. (“the Company”) as part of the Company’s Board of
Director’s execution of its strategy and management plan. Your position as Chief Talent Officer shall be considered an Executive Vice President level position with the Company. Your start date will be November 16, 2011, at which time you
will become a member of the Executive Board. 
 Your total compensation summary is detailed below: 

Base Salary: $700,000 ($29,166.67 semi-monthly). 
 Annual Performance Based Incentive 
  

	 	•	 	 25% of the annual incentive will be based on the achievement of the Company’s Revenue goal. 

 

	 	•	 	 25% of the annual incentive will be based on the achievement of the Company’s Operating Profit goal. 

 

	 	•	 	 50% of the annual incentive will be based on the achievement of your individual annual performance objectives. 

 

	 	•	 	 Your target incentive opportunity is 75% of your Base Salary and your maximum incentive opportunity is 2 times your target incentive opportunity, or
150% of your Base Salary. Assuming employment for a full fiscal year, your incentive compensation amount at target would be $525,000, for total earnings of $1,225,000. If maximum results are achieved, your incentive compensation would be $1,050,000,
for total earnings of $1,750,000. If threshold level results are not achieved, the incentive compensation opportunity is $0. 

  

	 	•	 	 Incentive compensation under this program for the current year is prorated based upon the actual number of months you participate in the program.

 Cash Award 

You will receive a one time signing bonus in the amount of $8,000,000 less applicable taxes. The signing bonus less applicable taxes will be paid to you
within 30 days after your start date. The signing bonus will be subject to the attached jcpenney Signing Bonus Agreement. 

  
 1 

 Restricted Stock Unit Award 
 You will receive a restricted stock unit award following the commencement of your employment with the Company. 
 Your restricted stock unit award will be for the number of restricted stock units determined by dividing $12,000,000 by the closing price of the common stock of the Company (Common Stock) on
November 16, 2011, the effective date of your employment with the Company and the actual grant date of the restricted stock unit award. This restricted stock unit award will be a stand- alone grant authorized by the Human Resources and
Compensation Committee of the Board of Directors (HRCC) and will be in the form attached hereto as Exhibit A. The grant date of this restricted stock unit award will be November 16, 2011. 

Your restricted stock unit award will vest one-third on the fourth anniversary of the grant date, one-third on the fifth anniversary of the grant date
and one-third on the sixth anniversary of the grant date provided you are actively employed on each respective vesting date with no break in service. In addition, this restricted stock unit award will pro rata vest if you are terminated other than
for cause under, and as defined in, the Executive Termination Pay Agreement (ETPA), attached as Exhibit B. The restricted stock unit award will also fully vest if there is a change in control of the Company, as defined in the form of the award, and
your employment is terminated other than for cause or you terminate your employment for “good reason” within two years following a change in control. 
 The Common Stock potentially issuable under your restricted stock unit award will be registered on a Form S-8 Registration Statement under the Securities Act of 1933 and listed on the New York Stock
Exchange (or such other exchange on which the Common Stock may be listed from time-to-time). 
 Each restricted stock unit shall at all times be
deemed to have a value equal to the then-current fair market value of a share of Common Stock. At the time of vesting the Company will issue to you in cancellation of the restricted stock units, a number of shares of Common Stock equal to the number
of vested restricted stock units. 
 Termination Arrangements 
 We recognize the need to provide protection to our executive officers in the event of termination of employment without cause or following a change in control of the Company. Accordingly, we have put in
place separate arrangements consisting of an individual ETPA, attached as Exhibit B, and a Change in Control Plan, attached as Exhibit C, to address termination situations not precipitated by the conduct of the executive officer. 

The ETPA provides severance benefits to you in exchange for your agreement to comply with certain covenants. The benefits payable under the ETPA are not
available if benefits are received under the Change in Control Plan. The Company provides the Change in Control Plan if an executive’s employment is involuntarily terminated other than for cause, generally, within two years following a change
in control of the Company. 

  
 2 

 Perquisites 
 As an executive officer of the Company, you are eligible to participate in the Financial Counseling Program and receive an Annual Health Exam. You may select any firm for financial counseling, keeping
within the Company guidelines. The Company will pay up to $14,630 as a first-year fee and up to $10,125 annually for each succeeding year to cover the financial counseling firm’s fees. The Company will also provide you with an allowance of up
to $3,000 for an annual health exam. 
 Indemnification 
 As an executive officer of the Company you will be entitled to enter into the Company’s standard indemnification agreement which is offered to all of its officers. This indemnification agreement is
effective upon signed acceptance by the executive officer. 
 Benefits 
 Our comprehensive benefits package includes options to choose: healthcare (medical, dental, vision, flexible spending account); life insurance benefits; retirement benefits including 401(k) Savings Plan
that includes a 3% matching contribution (the matching contribution is equal to a maximum of 3% on the first 6% of a participant’s contributions each pay period) and a 2% retirement account contribution, and a nonqualified deferred compensation
plan. Other benefits include vacation (with prior-service credit), and a range of additional programs available to you and your family. 

Relocation 
 If you relocate, jcpenney
will pay for the relocation related expenses including, the movement of household goods, automobile, travel expenses, meals, house-hunting trips, and temporary housing in accordance with jcpenney relocation policy. 

The employment relationship existing between jcpenney and its employees is employment-at-will. Under this relationship, jcpenney may, at any time, decide
to end your employment with or without cause, prior notice or discipline at jcpenney’s sole discretion. Likewise, you are free to end your employment at any time for any reasons with or without notice. 

Dan, I am both humbled and thrilled that you have chosen to spend the next phase of your life working side-by-side with me to create America’s
Favorite Store. It will be an exhilarating ride as we do meaningful work together. 
  

	
	Regards,
	
	/s/ Ron Johnson
	Ron Johnson
	jcpenney
	Chief Executive Officer

  
 3 

 My signature acknowledges that I am accepting your offer of employment as outlined above. I acknowledge that
this is not a contract of employment. 
  

			
	Name (Print):	 	Daniel Walker
		
	Signature:	 	/s/ Daniel Walker
		
	Date:	 	November 15, 2011

  
 4 

 jcpenney Signing Bonus Agreement 
 Terms 
 In connection with your employment by jcpenney, you will receive a one time signing
bonus in the amount of $8,000,000 (“Signing Bonus”) less applicable taxes. Your Signing Bonus less applicable taxes will be paid to you within 30 days after your November 16, 2011 start date (“Start Date”). By accepting this
bonus and signing this agreement (“Agreement”), you agree that if you voluntarily terminate your employment for any reason, or jcpenney terminates your employment for Cause within one year of your Start Date you will be required to
reimburse jcpenney for a portion of the Signing Bonus you received. The amount of the Signing Bonus you will be required to reimburse jcpenney will be determined by multiplying the portion of the Signing Bonus you received by a fraction the
numerator of which is the number of whole calendar months that remain between the date of your termination employment and November 16, 2012, the first anniversary of your start date, and the denominator of which is 12. You will not be required
to reimburse jcpenney for any portion of your Signing Bonus if your employment is involuntarily terminated by jcpenney for any reason other than for Cause, or if your employment is terminated as a result of your death, or Disability. 

Definitions 
 For purposes of this
Agreement the following terms will have the meanings prescribed to them below, unless the context requires otherwise: 
 “Cause” means
(i) an intentional act of fraud, embezzlement, theft or any other material violation of law that occurs during or in the course of your employment with the jcpenney; (ii) intentional damage to the jcpenney’s assets; (iii) intentional
disclosure of the jcpenney’s confidential information contrary to jcpenney’s policies; (iv) material breach of your obligations under this Agreement; (v) intentional engagement in any competitive activity which would constitute a
breach of your duty of loyalty or of your obligations under this Agreement; (vi) the willful and continued failure to substantially perform your duties for the jcpenney (other than as a result of incapacity due to physical or mental illness);
or (vii) intentional breach of any of jcpenney’s policies or willful conduct by you that is in either case demonstrably and materially injurious to jcpenney, monetarily or otherwise; provided, however, that termination for Cause based on
clause (iv) shall not be effective unless you shall have written notice from the Chief Executive Officer of the jcpenney (which notice shall include a description of the reasons and circumstances giving rise to such notice) not less than 30
days prior to the Executive’s termination and you have failed after receipt of such notice to satisfactorily discharge your duties. For purposes hereof, an act, or a failure to act, shall not be deemed “willful” or
“intentional” unless it is done, or omitted to be done, by you in bad faith or without a reasonable belief that your action or omission was in the best interest of jcpenney. Failure to meet performance standards or objectives, by itself,
does not constitute “Cause.” “Cause” also includes any of the above grounds for dismissal regardless of whether the jcpenney learns of it before or after terminating your employment. 

  
 5 

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Disability” means that you are totally and permanently disabled within the meaning of the Social Security Act (“Act”), provided that
you have either (a) qualified for disability insurance benefits under such Act, or (b) in the opinion of the organization that administers jcpenney’s disability plans, you have a disability which would entitle you to such disability
insurance benefits except for the fact that you do not have sufficient quarters of coverage or have not satisfied any age requirements under such law. 
 Dispute Resolution 
 Any dispute between you and jcpenney under this Agreement shall be
resolved (except as provided below) through informal arbitration by an arbitrator selected under the rules of the American Arbitration Association for arbitration of employment disputes (located in the city in which jcpenney’s principal
executive offices are based) and the arbitration shall be conducted in that location under the rules of said Association. Each party shall be entitled to present evidence and argument to the arbitrator. The arbitrator shall have the right only to
interpret and apply the provisions of this Agreement and may not change any of its provisions. The arbitrator shall permit reasonable pre-hearing discovery of facts, to the extent necessary to establish a claim or a defense to a claim, subject to
supervision by the arbitrator. The determination of the arbitrator shall be conclusive and binding upon the parties and judgment upon the same may be entered in any court having jurisdiction thereof. The arbitrator shall give written notice to the
parties stating the arbitrator’s determination, and shall furnish to each party a signed copy of such determination. The expenses of arbitration shall be borne equally by jcpenney and you or as the arbitrator equitably determines consistent
with the application of state or federal law; provided, however, that your share of such expenses shall not exceed the maximum permitted by law. To the extent applicable, in accordance with Code section 409A and Treasury Regulation section
1.409A-3(i)(1)(iv)(A) or any successor thereto, any payments or reimbursement of arbitration expenses which jcpenney is required to make under the foregoing provision shall meet the requirements below, jcpenney shall reimburse you for any such
expenses, promptly upon delivery of reasonable documentation, provided, however, all invoices for reimbursement of expenses must be submitted to jcpenney and paid in a lump sum payment by the end of the calendar year following the calendar year in
which the expense was incurred. All expenses must be incurred within a 20 year period following your separation from service as defined in section 409A of the Code and the applicable Treasury regulations thereunder. The amount of expenses paid or
eligible for reimbursement in one year under this section governing the resolution of disputes under this Agreement shall not affect the expenses paid or eligible for reimbursement in any other taxable year. The right to payment or reimbursement
under this Section governing the resolution of disputes under this Agreement shall not be subject to liquidation or exchange for another benefit. 
 Any arbitration or action pursuant to this section governing the resolution of disputes under this Agreement shall be governed by and construed in accordance with the substantive laws of the State of
Delaware and, where applicable, federal law, 

  
 6 

 
without giving effect to the principles of conflict of laws of such State. The mandatory arbitration provisions of this Section shall supersede in their entirety the J.C. Penney Alternative, a
dispute resolution program generally applicable to employment terminations. 
 Recoupment 

To the extent permitted by law, you agree that jcpenney may deduct reimbursement payments from your final paycheck and/or vacation payout.
If reimbursement payments are not paid timely, jcpenney shall be entitled to recover reasonable collection agency fees and attorneys’ fees incurred by jcpenney because of such noncompliance with this Agreement. 

Not an Employment Contract 
 This
Agreement does not constitute a contract of employment. The employment relationship between you and jcpenney is employment-at-will. Under this relationship, jcpenney may, at any time, decide to end your employment with or without cause, prior notice
or discipline at jcpenney’s sole discretion. Likewise, you are free to end your employment at any time for any reasons with or without notice. 
 My signature acknowledges that I have read and agree to the terms outlined above in the Agreement. 
  

			
	Name (Print):	 	Daniel Walker
		
	Signature:	 	/s/ Daniel Walker
		
	Date:	 	November 15, 2011

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}]]