Document:

EX-10.4

 Exhibit 10.4 
  

 
  

SECURITY AGREEMENT 
 among 

TSI HOLDINGS II, LLC, 
 TOWN
SPORTS INTERNATIONAL, LLC, 
 CERTAIN OTHER SUBSIDIARIES OF TSI HOLDINGS II, LLC 

and 
 DEUTSCHE BANK AG NEW YORK
BRANCH, 
 as COLLATERAL AGENT 
  

 
 Dated as of
November 15, 2013 
  
  

 
  

 

 SECURITY AGREEMENT 

SECURITY AGREEMENT, dated as of November 15, 2013, made by each of the undersigned assignors (each, an “Assignor” and,
together with any other entity that becomes an assignor hereunder pursuant to Section 10.12 hereof, the “Assignors”) in favor of Deutsche Bank AG New York Branch, as collateral agent (together with any successor
collateral agent, the “Collateral Agent”), for the benefit of the Secured Creditors (as defined below). Certain capitalized terms as used herein are defined in Article IX hereof. Except as otherwise defined herein, all other
capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 
 W
I T N E S S E T H: 
 WHEREAS, TSI Holdings II, LLC
(“Holdings”), Town Sports International, LLC (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Deutsche Bank AG New York Branch, as administrative agent
(together with any successor administrative agent, the “Administrative Agent”), have entered into a Credit Agreement, dated as of November 15, 2013 (as amended, modified, restated, extended, restructured and/or supplemented
from time to time, together with any agreement refinancing in full the Indebtedness under such agreement or successor agreements to the extent such agreement provides that it is to be the “Credit Agreement” hereunder, the “Credit
Agreement”), providing for the making of Loans to, and the issuance of, and participation in, Letters of Credit for the account of, the Borrower, all as contemplated therein (the Lenders, each Issuing Lender, the Administrative Agent and
the Collateral Agent are herein called the “Lender Creditors”); 
 WHEREAS, the Borrower and/or one or more of its
Subsidiaries may at any time and from time to time enter into one or more Interest Rate Protection Agreements and/or Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the respective
Lender subsequently ceases to be a Lender under the Credit Agreement for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors” and, together with the
Lender Creditors, the “Secured Creditors”); 
 WHEREAS, pursuant to the Credit Agreement Party Guaranty, each Credit
Agreement Party has guaranteed to the Guaranteed Creditors the payment when due of all Guaranteed Obligations as described (and defined) therein; 

WHEREAS, pursuant to the Subsidiaries Guaranty, each Assignor (other than Holdings and the Borrower) has jointly and severally guaranteed the
payment and performance when due of all Guaranteed Obligations as described (and defined) therein; 
 WHEREAS, it is a condition precedent
to the making of Loans to the Borrower, and the issuance of, and participation in, Letters of Credit for the account of the Borrower under the Credit Agreement and to the Other Creditors entering into Interest Rate Protection Agreements and Other
Hedging Agreements that each Assignor shall have executed and delivered to the Collateral Agent this Agreement; and 

 WHEREAS, each Assignor will obtain benefits from the incurrence of Loans by the Borrower and the
issuance of, and participation in, Letters of Credit for the account of the Borrower under the Credit Agreement and the entering into by the Borrower and/or one or more of its Subsidiaries of Interest Rate Protection Agreements or Other Hedging
Agreements and, accordingly, desires to execute this Agreement in order to satisfy the condition described in the preceding recital and to induce the Lenders to make Loans to the Borrower and issue, and/or participate in, Letters of Credit for the
account of the Borrower and the Other Creditors to enter into Interest Rate Protection Agreements or Other Hedging Agreements with the Borrower and/or one or more of its Subsidiaries; 

NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each Assignor, the receipt and sufficiency of which are
hereby acknowledged, each Assignor hereby makes the following representations and warranties to the Collateral Agent for the benefit of the Secured Creditors and hereby covenants and agrees with the Collateral Agent for the benefit of the Secured
Creditors as follows: 
 ARTICLE I 

SECURITY INTERESTS 
 1.1 Grant
of Security Interests. (a) As security for the prompt and complete payment and performance when due of all of its Obligations, each Assignor does hereby assign and transfer unto the Collateral Agent, and does hereby pledge and grant to the
Collateral Agent, in each case for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such Assignor in, to and under all of the following personal property and fixtures (and all rights
therein) of such Assignor, or in which or to which such Assignor has any rights, in each case whether now existing or hereafter from time to time acquired: 
  

	 	(i)	each and every Account; 

  

	 	(ii)	all cash; 

  

	 	(iii)	the Cash Collateral Account and all monies, securities, Instruments and other investments deposited or required to be deposited in the Cash Collateral Account; 

 

	 	(iv)	all Chattel Paper (including, without limitation, all Tangible Chattel Paper and all Electronic Chattel Paper); 

  

	 	(v)	all Commercial Tort Claims (including all Commercial Tort Claims described in Annex D hereto); 

  

	 	(vi)	all Domain Names, Trade Secrets, and other proprietary information, including financial data, personal information, customer lists, supplier lists, business plans, and data collections; 

 

	 	(vii)	all Contracts, together with all Contract Rights arising thereunder; 

  
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	 	(viii)	all Copyrights; 

  

	 	(ix)	all Equipment; 

  

	 	(x)	all Deposit Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts maintained by such Assignor with any Person and all monies, securities, Instruments and other investments
deposited or required to be deposited in any of the foregoing; 

  

	 	(xi)	all Documents; 

  

	 	(xii)	all General Intangibles; 

  

	 	(xiii)	all Goods; 

  

	 	(xiv)	all Instruments; 

  

	 	(xv)	all Inventory; 

  

	 	(xvi)	all Investment Property and Securities Accounts; 

  

	 	(xvii)	all Letter-of-Credit Rights (whether or not the respective letter of credit is evidenced by a writing); 

  

	 	(xviii)	all Marks, together with the registrations and right to all renewals thereof, the goodwill of the business of such Assignor symbolized by the Marks and all causes of action arising prior to or after the date hereof for
infringement of any of the Marks or unfair competition regarding the same; 

  

	 	(xix)	all Patents, together with all causes of action arising prior to or after the date hereof for infringement of any of the Patents or unfair competition regarding the same; 

 

	 	(xx)	all Permits; 

  

	 	(xxi)	all Software and all recorded data of any kind or nature, and any media on which the foregoing is recorded; 

  

	 	(xxii)	all Supporting Obligations; 

  

	 	(xxiii)	all claims of such Assignor against the Captive Insurance Company; 

  

	 	(xxiv)	all other personal property and fixtures of such Assignor; and 

  

	 	(xxv)	all Proceeds and products of any and all of the foregoing (all of the above, including this clause (xxv), the “Collateral”); 

  
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 provided that no Assignor shall be required to grant a security interest hereunder in (and the term
“Collateral” shall not include) any Excluded Collateral (so long as same remains “Excluded Collateral” in accordance with the definition thereof). 

(b) The security interest of the Collateral Agent under this Agreement extends to all Collateral which any Assignor may acquire, or with
respect to which any Assignor may obtain rights, at any time during the term of this Agreement. 
 (c) Notwithstanding anything to the
contrary contained in this Agreement, (A) the Assignors shall not be required to take any actions to perfect the Collateral Agent’s security interest hereunder in motor vehicles, Letter-of-Credit Rights, cash, Deposit Accounts and
Securities Accounts, in each case except to the extent that a security interest in such types of Collateral can be perfected by (i) the filings of a UCC-1 (or similar) financing statement under the applicable UCC, and (ii) in the case of
Letter-of-Credit Rights, by taking the respective actions described in Section 3.7 hereof (and the representations, warranties and covenants contained in this Agreement with respect to a perfected security interest in such Collateral shall be
qualified to the extent provided in this Section 1.1(c)), (B) the Assignors shall not be required to enter into any foreign law pledges, mortgages or security agreements and (C) the Assignors shall not be required to take any actions
to perfect the Collateral Agent’s security interest hereunder in any asset for which the cost of perfecting a security interest in such asset is excessive in relation to the value of the security to be offered thereby (as reasonably determined
by the Collateral Agent) so long as, in the case of this clause (C), the applicable Assignor delivers a written request to the Collateral Agent specifically identifying (x) the applicable assets, the value thereof and the cost of perfecting a
security interest therein and (y) the perfection steps not to be taken with respect to such assets and such written request is acknowledged and agreed to by the Collateral Agent in writing. 

(d) Notwithstanding anything to the contrary contained in this Agreement, no security interest is assigned, transferred, pledged or granted in
any “intent-to-use” application for registration of a Mark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing with respect thereto of a verified “Statement of Use” pursuant to
Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act, to the extent that, and during the period in which, the assignment, transfer, pledge or grant of a security interest in
such intent-to-use application would impair the validity or enforceability of any registration that issues from that intent-to-use application under applicable federal law. 

1.2 Power of Attorney. Each Assignor hereby constitutes and appoints the Collateral Agent its true and lawful attorney, irrevocably,
with full power after the occurrence of and during the continuance of an Event of Default (in the name of such Assignor or otherwise) to act, require, demand, receive, compound and give acquittance for any and all moneys and claims for moneys due or
to become due to such Assignor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or take any action or institute any proceedings which the Collateral Agent may
deem to be necessary or advisable to protect the interests of the Secured Creditors, which appointment as attorney is coupled with an interest. 

  
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 ARTICLE II 

GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS 

Each Assignor represents, warrants and covenants, which representations, warranties and covenants shall survive execution and delivery of this Agreement, as
follows: 
 2.1 Necessary Filings. Except as expressly permitted by the Credit Agreement, (i) all filings, registrations,
recordings and other actions necessary or appropriate to create, preserve and perfect the security interest granted by such Assignor to the Collateral Agent hereby in respect of the Collateral have been accomplished (or will be accomplished within
the time periods set forth in the first sentence of Section 8.11(a) of the Credit Agreement) and (ii) the security interest granted to the Collateral Agent pursuant to this Agreement in and to the Collateral creates (or upon such filings
will create) a valid and, together with all such filings, registrations, recordings and other actions, a perfected security interest therein prior to the rights of all other Persons therein and subject to no other Liens (other than Permitted Liens)
and is entitled to all the rights, priorities and benefits afforded by the UCC or other relevant law as enacted in any relevant jurisdiction to perfected security interests, in each case to the extent that the Collateral consists of the type of
property in which a security interest may be perfected and is required to be perfected hereunder (x) by possession or control (within the meaning of the UCC as in effect on the date hereof in the State of New York), (y) by filing a
financing statement under the UCC as enacted in any relevant jurisdiction or (z) by a filing of a Grant of Security Interest in the respective form attached hereto in the United States Patent and Trademark Office or in the United States
Copyright Office. 
 2.2 No Liens. Except as expressly permitted by the Credit Agreement, such Assignor is, and as to all Collateral
acquired by it from time to time after the date hereof such Assignor will be, the owner or holder of all Collateral free from any Lien (other than Permitted Liens), and such Assignor shall defend the Collateral against all claims and demands of all
Persons at any time claiming the same or any interest therein adverse to the Collateral Agent. 
 2.3 Other Financing Statements.
Except as expressly permitted by the Credit Agreement, as of the date hereof, there is no financing statement (or similar statement or instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any
kind in the Collateral (other than financing statements filed in respect of Permitted Liens), and so long as the Termination Date has not occurred, such Assignor will not execute or authorize to be filed in any public office any financing statement
(or similar statement or instrument of registration under the law of any jurisdiction) or statements relating to the Collateral, except financing statements filed or to be filed in respect of and covering the security interests granted hereby by
such Assignor or in connection with Permitted Liens. 
 2.4 Chief Executive Office. The chief executive office of such Assignor is,
on the date of this Agreement, located at the address indicated on Annex A hereto for such Assignor. During the period of the four calendar months preceding the date of this Agreement, the chief executive office of such Assignor has not
been located at any address other than that indicated on Annex A in accordance with the immediately preceding sentence, in each case unless each such other address is also indicated on Annex A hereto for such Assignor. 

  
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 2.5 Legal Names; Type of Organization (and Whether a Registered Organization and/or a
Transmitting Utility); Jurisdiction of Organization; Organizational Identification Numbers; Changes Thereto; etc. As of the date hereof, the exact legal name of each Assignor, the type of organization of such Assignor, whether or not such
Assignor is a Registered Organization, the jurisdiction of organization of such Assignor, the organizational identification number (if any) of such Assignor, and whether or not such Assignor is a Transmitting Utility, is listed on Annex B
hereto for such Assignor. Except as expressly permitted by the Credit Agreement, such Assignor shall not change its legal name, its type of organization, its status as a Registered Organization (in the case of a Registered Organization), its status
as a Transmitting Utility or as a Person which is not a Transmitting Utility, as the case may be, its jurisdiction of organization, or its organizational identification number (if any) from that listed on Annex B hereto, except that any such
changes shall be permitted (so long as not in violation of the applicable requirements of the Credit Documents and so long as same do not involve (x) a Registered Organization ceasing to constitute same or (y) such Assignor changing its
jurisdiction of organization from the United States or a State thereof to a jurisdiction of organization outside the United States or a State thereof) if (i) it shall have given to the Collateral Agent not more than 10 days’ written notice
(or such longer period as shall be acceptable to the Collateral Agent) after each change to the information listed on Annex B (as adjusted for any subsequent changes thereto previously made in accordance with this sentence), together with a
supplement to Annex B which shall correct the applicable information contained therein for such Assignor, and (ii) in connection with such respective change or changes, it shall have taken all action reasonably requested by the
Collateral Agent to maintain the security interests of the Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected and in full force and effect. In addition, to the extent that such Assignor does not have an
organizational identification number on the date hereof and later obtains one, such Assignor shall promptly thereafter notify the Collateral Agent of such organizational identification number and shall take all actions reasonably satisfactory to the
Collateral Agent to the extent necessary to maintain the security interest of the Collateral Agent in the Collateral intended to be granted hereby fully perfected and in full force and effect. 

2.6 Trade Names; Etc. Except as expressly permitted by the Credit Agreement, such Assignor does not have nor does it operate in any
jurisdiction under, nor in the preceding five years has it had or operated in any jurisdiction under, any trade names, fictitious names or other names except its legal name as specified in Annex B and such other trade or fictitious names as
are listed on Annex C hereto for such Assignor. Such Assignor may assume or operate in any jurisdiction under any new trade, fictitious or other name if (i) it shall have given to the Collateral Agent not more than 10 days’ written
notice (or such longer period as shall be acceptable to the Collateral Agent) after any such assumption or operation, clearly describing such new name and the jurisdictions in which such new name will be used and providing such other information in
connection therewith as the Collateral Agent may reasonably request and (ii) with respect to such new name, it shall have taken all action reasonably requested by the Collateral Agent to maintain the security interest of the Collateral Agent in
the Collateral intended to be granted hereby at all times fully perfected and in full force and effect. 

  
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 ARTICLE III 

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL 

3.1 Maintenance of Records. Upon the occurrence and during the continuance of an Event of Default and at the request of the Collateral
Agent, such Assignor shall, at its own cost and expense, deliver all tangible evidence of its Accounts and Contract Rights (including, without limitation, all documents evidencing the Accounts and all Contracts) and such books and records to the
Collateral Agent or to its representatives (copies of which evidence and books and records may be retained by such Assignor). Upon the occurrence and during the continuance of an Event of Default and if the Collateral Agent so directs, such Assignor
shall legend, in form and manner satisfactory to the Collateral Agent, the Accounts and the Contracts, as well as books, records and documents (if any) of such Assignor evidencing or pertaining to such Accounts and Contracts with an appropriate
reference to the fact that such Accounts and Contracts have been assigned to the Collateral Agent and that the Collateral Agent has a security interest therein. 

3.2 Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default, if
the Collateral Agent so directs any Assignor, such Assignor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option,
directly notify the obligors with respect to any Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Accounts
and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Assignor. Without notice to or assent by any Assignor, the Collateral Agent may, upon the occurrence and during the
continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in Section 7.4 of this Agreement. The reasonable
costs and expenses of collection (including reasonable attorneys’ fees), whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant Assignor. The Collateral Agent shall deliver a copy of each notice referred to in
the preceding clause (y) to the relevant Assignor, provided that (x) the failure by the Collateral Agent to so notify such Assignor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent
created by this Section 3.2 and (y) no such notice shall be required if an Event of Default of the type described in Section 11.05 of the Credit Agreement has occurred and is continuing. 

3.3 Collection. Except as otherwise directed by the Collateral Agent after the occurrence and during the continuation of an Event of
Default, any Assignor may allow as adjustments to amounts owing under its Accounts and Contracts (i) an extension or renewal of the time or times of payment, or settlement for less than the total unpaid balance, which such Assignor finds
appropriate, and (ii) a refund or credit due as a result of returned or damaged merchandise or improperly performed services or for other reasons which such Assignor finds appropriate. The reasonable costs and expenses (including, without
limitation, reasonable attorneys’ fees) of collection, whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant Assignor. 

  
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 3.4 Instruments. If any Assignor owns or acquires any Instrument in excess of $1,000,000
constituting Collateral (other than (x) checks and other payment instruments received and collected in the ordinary course of business and (y) any Instrument subject to pledge pursuant to the Pledge Agreement), such Assignor will within 10
Business Days (or such longer period as shall be acceptable to the Collateral Agent in its sole discretion) notify the Collateral Agent thereof, and upon request by the Collateral Agent will promptly deliver such Instrument to the Collateral Agent
appropriately endorsed to the order of the Collateral Agent as further security hereunder. 
 3.5 Assignors Remain Liable Under
Accounts. Anything herein to the contrary notwithstanding, the Assignors shall remain liable under each of the Accounts to observe and perform all of the conditions and obligations to be observed and performed by it thereunder, all in accordance
with the terms of any agreement giving rise to such Accounts. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of
this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Account pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of
the obligations of any Assignor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by them or as to the sufficiency of any
performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to them or to which
they may be entitled at any time or times. 
 3.6 Assignors Remain Liable Under Contracts. Anything herein to the contrary
notwithstanding, the Assignors shall remain liable under each of the Contracts to observe and perform all of the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and
provisions of each Contract. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Contract by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other
Secured Creditor of any payment relating to such Contract pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of any Assignor under or pursuant to any Contract,
to make any payment, to make any inquiry as to the nature or the sufficiency of any performance by any party under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to them or to which they may be entitled at any time or times. 
 3.7 Letter-of-Credit Rights. If any
Assignor is at any time a beneficiary under a letter of credit with a stated amount of $1,000,000 or more, such Assignor shall promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, such Assignor shall, pursuant to
an agreement in form and substance reasonably satisfactory to the Collateral Agent, use its commercially reasonable efforts to either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the
Collateral Agent of the proceeds of any drawing under such letter of credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of such letter of credit, with the Collateral Agent agreeing, in each case, that the
proceeds of any drawing under the letter of credit are to be applied as provided in this Agreement after the occurrence and during the continuance of an Event of Default. 

  
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 3.8 Commercial Tort Claims. All Commercial Tort Claims of, and known to, each Assignor in
existence on the date of this Agreement are described in Annex D hereto (but only to the extent that the amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of an individual
Commercial Tort Claim is $1,000,000 or more). If any Assignor shall at any time after the date of this Agreement acquire a Commercial Tort Claim in an amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated
value thereof) of $1,000,000 or more, such Assignor shall promptly notify the Collateral Agent thereof in a writing signed by such Assignor and describing the details thereof and shall grant to the Collateral Agent in such writing a security
interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Collateral Agent. 

3.9 Chattel Paper. Upon the request of the Collateral Agent made at any time or from time to time, each Assignor shall promptly furnish
to the Collateral Agent a list of all Electronic Chattel Paper in each case in respect of goods with a value greater than $1,000,000 held or owned by such Assignor. Furthermore, if requested by the Collateral Agent, each Assignor shall promptly take
all actions which are reasonably practicable so that the Collateral Agent has “control” of all Electronic Chattel Paper in accordance with the requirements of Section 9-105 of the UCC. Each Assignor will promptly (and in any event
within 10 days (or such longer period as shall be acceptable to the Collateral Agent in its sole discretion)) following any request by the Collateral Agent, deliver an original of all of its Tangible Chattel Paper in each case in respect of goods
with a value greater than $1,000,000 to the Collateral Agent. 
 ARTICLE IV 

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES 

4.1 Additional Representations and Warranties. Except as otherwise expressly permitted by the Credit Agreement, each Assignor
represents and warrants that it is the true and lawful owner of or otherwise has the right to use the registered Marks and Domain Names listed in Annex E hereto for such Assignor and that said listed Marks and Domain Names include all
(a) United States trademarks and service marks registered in the United States Patent and Trademark Office, (b) applications to register United States trademarks and service marks in the United States Patent and Trademark Office, and
(c) Internet domain names, in each case of (a)-(c), that such Assignor owns in connection with its business as of the date hereof. Except as otherwise expressly permitted by the Credit Agreement, each Assignor represents and warrants that it
owns, is licensed to use or otherwise has the right to use, all Marks and Domain Names that are necessary for the conduct of its business as currently conducted. Except as otherwise expressly permitted by the Credit Agreement, each Assignor further
warrants that it has no knowledge of any written or other material third party claim received by it that any aspect of such Assignor’s present business operations infringe or will infringe any trademark, service mark or trade name of any other
Person which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Except as otherwise expressly permitted by the Credit Agreement, each Assignor represents and warrants that the registrations 

  
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listed in Annex E are subsisting and have not been canceled and, to such Assignor’s knowledge, are valid, and such Assignor is not aware, except as would not have a Material Adverse
Effect, of any third-party claim that any of said registrations is invalid or unenforceable. Each Assignor hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of an Event
of Default, any document which may be required by the United States Patent and Trademark Office or similar registrar in order to effect, in accordance with Section 7.1 hereof, an absolute assignment of all right, title and interest in
each Mark and/or Domain Name, and record the same. 
 4.2 Infringements. Except as each Assignor otherwise determines in its
reasonable business judgment and as otherwise expressly permitted by the Credit Agreement, each Assignor agrees to prosecute diligently in accordance with reasonable business practices any Person infringing any Mark or Domain Name in any manner that
could reasonably be expected to have a Material Adverse Effect. 
 4.3 Preservation of Marks and Domain Names. Except as otherwise
permitted by the Credit Agreement, each Assignor agrees to use its United States federally registered Marks that are material to such Assignor’s business in interstate commerce during the time in which this Agreement is in effect and to take
all such other actions as are reasonably necessary to preserve such Marks as trademarks or service marks under the laws of the United States (in each case, other than as such Assignor determines that the preservation or continued effectiveness
thereof is no longer desirable in the conduct of the business). 
 4.4 Maintenance of Registration. Except as otherwise permitted by
the Credit Agreement, each Assignor shall, at its own expense, diligently process all documents reasonably required to maintain all Mark and/or Domain Name registrations, including but not limited to affidavits of use and applications for renewals
of registration in the United States Patent and Trademark Office for all of its material registered Marks, and shall pay all fees and disbursements in connection therewith and shall not abandon such filing of affidavit of use or any such application
of renewal prior to the exhaustion of all administrative and judicial remedies without prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld (in each case, other than as such Assignor determines that the
preservation or continued effectiveness thereof is no longer desirable in the conduct of the business). 
 4.5 Future Registered
Marks. If any Mark registration is issued hereafter to any Assignor as a result of any application now or hereafter pending before the United States Patent and Trademark Office, at the end of the calendar quarter in which such certificate or
similar indicia of ownership was received, or on such later date as the Collateral Agent shall agree in its sole discretion, such Assignor shall deliver to the Collateral Agent a copy of such registration certificate or similar indicia of ownership,
and a grant of a security interest in such Mark, to the Collateral Agent and at the expense of such Assignor, confirming the grant of a security interest in such Mark to the Collateral Agent hereunder, the form of such security to be substantially
in the form of Annex H hereto or in such other form as may be reasonably satisfactory to the Collateral Agent. 

  
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 ARTICLE V 

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS 

5.1 Additional Representations and Warranties. Except as otherwise expressly permitted by the Credit Agreement, each Assignor
represents and warrants that it is the true and lawful owner of (i) all rights in (x) the Patents listed in Annex F hereto for such Assignor and that said Patents include all the United States patents and applications for United
States patents that such Assignor owns as of the date hereof and (y) the Copyrights listed in Annex G hereto for such Assignor and that said Copyrights constitute all the United States copyrights registered with the United States
Copyright Office and applications to register United States copyrights that such Assignor owns as of the date hereof and (ii) all rights in, or otherwise has the right to use, all Trade Secrets and other proprietary information necessary to
operate the business of such Assignor as currently operated. Except as otherwise expressly permitted by the Credit Agreement, each Assignor further warrants that it has no knowledge of any written or other material third party claim received by it
that any aspect of such Assignor’s present business operations infringes or will infringe any patent and/or copyright of any other Person, or that such Assignor has misappropriated any trade secret or other proprietary information, in each case
which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Each Assignor hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the
continuance of any Event of Default, any document which may be required by the United States Patent and Trademark Office or the United States Copyright Office in order to effect, in accordance with Section 7.1 hereof, an absolute
assignment of all right, title and interest in each Patent or Copyright, and to record the same. 
 5.2 Infringements. Except as each
Assignor otherwise determines in its reasonable business judgment and as otherwise expressly permitted by the Credit Agreement, each Assignor agrees to diligently prosecute any Person infringing any Patent or Copyright or any Person misappropriating
any Trade Secret, for which such Assignor has a right of action for misappropriation, in each case to the extent that such infringement or misappropriation, either individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect. 
 5.3 Maintenance of Patents or Copyrights. Except as otherwise permitted by the Credit Agreement, at its own
expense, each Assignor shall make timely payment of all post-issuance fees required to maintain in force its rights under each issued Patent or registered Copyright (other than as such Assignor determines that the preservation or continued
effectiveness thereof is no longer desirable in the conduct of the business). 
 5.4 Prosecution of Patent or Copyright Applications.
At its own expense, each Assignor shall diligently prosecute all material applications for (i) United States Patents listed in Annex H hereto and (ii) United States Copyrights listed on Annex I hereto, in each case for
such Assignor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies (in each case, other than as such Assignor determines that the preservation or continued effectiveness thereof is no longer
desirable in the conduct of the business) or as otherwise expressly permitted by the Credit Agreement. 

  
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 5.5 Other Patents and Copyrights. At the end of each calendar quarter following the
acquisition or issuance of a United States Patent, registration of a Copyright, or acquisition of a registered Copyright, or of filing of an application for a United States Patent or Copyright, or on such later date as the Collateral Agent shall
agree in its sole discretion, the relevant Assignor shall deliver to the Collateral Agent a copy of said Copyright or Patent, or certificate or registration of, or application therefor, as the case may be, with a grant of a security interest as to
such Patent or Copyright, as the case may be, to the Collateral Agent and at the expense of such Assignor, confirming the grant of a security interest, the form of such grant of a security interest to be substantially in the form of Annex I
or J hereto, as appropriate, or in such other form as may be reasonably satisfactory to the Collateral Agent. 
 ARTICLE VI 

PROVISIONS CONCERNING ALL COLLATERAL 

6.1 Protection of Collateral Agent’s Security. Except as otherwise permitted by the Credit Documents, each Assignor will do
nothing to impair the rights of the Collateral Agent in the Collateral. Except as otherwise expressly permitted by the Credit Agreement, each Assignor will at all times keep its Inventory and Equipment insured in favor of the Collateral Agent, at
such Assignor’s own expense to the extent and in the manner required by the Credit Documents. Except to the extent otherwise permitted to be retained by such Assignor or applied by such Assignor pursuant to the terms of the Credit Documents,
during the existence of an Event of Default the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 7.4 hereof. Each Assignor assumes
all liability and responsibility in connection with the Collateral acquired by it and the liability of such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed,
stolen, damaged or for any reason whatsoever unavailable to such Assignor. 
 6.2 Additional Information. Each Assignor will, at its
own expense, from time to time upon the reasonable request of the Collateral Agent, promptly (and in any event within 10 Business Days, or on such later date as the Collateral Agent shall agree in its sole discretion, after its receipt of the
respective request) furnish to the Collateral Agent such information with respect to the Collateral (including with reasonable specificity and in summary form, the identity of the Collateral or such components thereof as may have been reasonably
requested by the Collateral Agent, the value and location of such Collateral, etc.) as may be reasonably requested by the Collateral Agent. Without limiting the forgoing, each Assignor agrees that it shall promptly (and in any event within 10
Business Days after its receipt of the respective request) furnish to the Collateral Agent such updated Annexes hereto as may from time to time be reasonably requested by the Collateral Agent. 

6.3 Further Actions. Subject to the terms of Section 1.1(c) hereof and to the last sentence of Section 9.12(a) of the Credit
Agreement, each Assignor will, at its own expense and upon the reasonable request of the Collateral Agent, take such further steps relating to the Collateral, which the Collateral Agent deems reasonably appropriate or advisable to perfect, preserve
or protect its security interest in the Collateral. 

  
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 6.4 Financing Statements. Each Assignor agrees to authorize and deliver to the Collateral
Agent such financing statements, in form reasonably acceptable to the Collateral Agent, as the Collateral Agent may from time to time reasonably request or as are reasonably necessary or desirable in the opinion of the Collateral Agent to establish
and maintain a valid, enforceable, perfected security interest in the Collateral as provided herein and the other rights and security contemplated hereby. Each Assignor will pay any applicable filing fees, recordation taxes and related expenses
relating to its Collateral. Each Assignor hereby authorizes the Collateral Agent to file any such financing statements without the signature of such Assignor where permitted by law (and such authorization includes describing the Collateral as
“all assets” of such Assignor). 
 ARTICLE VII 

REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT 

7.1 Remedies; Obtaining the Collateral Upon Default. Each Assignor agrees that, if any Event of Default shall have occurred and be
continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement, shall have all rights as a secured creditor under any UCC, and
such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant jurisdictions and may: 

(i) personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from such
Assignor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Assignor’s premises where any of the Collateral is located and remove the same and use
in connection with such removal any and all services, supplies, aids and other facilities of such Assignor; 
 (ii) instruct
the obligor or obligors on any agreement, instrument or other obligation (including, without limitation, the Accounts and the Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or other
obligation directly to the Collateral Agent and may exercise any and all remedies of such Assignor in respect of such Collateral; 

(iii) withdraw all monies, securities and instruments in the Cash Collateral Account and/or in any other Deposit Account or
Securities Account maintained with the Collateral Agent or any other Secured Creditor (or any affiliate thereof) for application to the Obligations in accordance with Section 7.4 hereof; 

(iv) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in accordance with
Section 7.2 hereof, or direct such Assignor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation; 

(v) take possession of the Collateral or any part thereof, by directing such Assignor in writing to deliver the same to the
Collateral Agent at any reasonable place or places designated by the Collateral Agent, in which event such Assignor shall at its own expense: 

(x) forthwith cause the same to be moved to the place or places so designated by the Collateral Agent and there delivered to
the Collateral Agent; 

  
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 (y) store and keep any Collateral so delivered to the Collateral Agent at such
place or places pending further action by the Collateral Agent as provided in Section 7.2 hereof; and 
 (z)
while the Collateral shall be so stored and kept, provide such security and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain it in good condition; 

(vi) license or sublicense, whether on an exclusive or nonexclusive basis, any Marks, Domain Names, Patents or Copyrights
included in the Collateral for such term and on such conditions and in such manner as the Collateral Agent shall in its sole judgment determine; 

(vii) apply any monies constituting Collateral or proceeds thereof in accordance with the provisions of
Section 7.4; 
 (viii) take any other action as specified in clauses (1) through (5), inclusive, of
Section 9-607 of the UCC; 
 (ix) declare the entire right, title and interest of any Assignor in and to any Patents,
Copyrights, Domain Names, and Marks included in the Collateral, in which event such rights, title and interest shall immediately vest in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to
exercise the power of attorney referred to in Sections 4.1 and 5.1 to execute, cause to be acknowledged and notarized and record said absolute assignment with the applicable agency or registrar; 

(x) use or practice any Patents, Copyrights, Trade Secrets or other proprietary information, Marks, and Domain Names included
in the Collateral and the goodwill of any Assignor’s business symbolized by such Marks or Domain Names and the right to carry on the business and use the assets of such Assignor in connection with which the Marks or Domain Names have been used;
and 
 (xi) direct any Assignor to refrain, in which event such Assignor shall refrain, from using or practicing any Patents,
Copyrights, Trade Secrets or other proprietary information, Marks, and Domain Names included in the Collateral in any manner whatsoever, directly or indirectly, and such Assignor shall execute such further documents that the Collateral Agent may
reasonably request to further confirm this and to transfer ownership and any registrations and pending applications to the Collateral Agent for the benefit of the Secured Creditors; 

  
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 it being understood that each Assignor’s obligation so to deliver the Collateral is of the essence of this
Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by such Assignor of said obligation. By accepting the benefits of this
Agreement and each other Security Document, the Secured Creditors expressly acknowledge and agree that this Agreement and each other Security Document may be enforced only by the action of the Collateral Agent acting upon the instructions of the
Required Secured Creditors and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and
remedies may be exercised by the Collateral Agent or the holders of at least a majority of the outstanding Other Obligations, as the case may be, for the benefit of the Secured Creditors upon the terms of this Agreement, the other Security Documents
and the Credit Agreement. 
 7.2 Remedies; Disposition of the Collateral. If any Event of Default shall have occurred and be
continuing, then any Collateral repossessed by the Collateral Agent under or pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by the Collateral Agent, may be sold, assigned, leased or otherwise
disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms as the
Collateral Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken
by the Collateral Agent or after any overhaul or repair at the expense of the relevant Assignor which the Collateral Agent shall determine to be commercially reasonable. Any disposition which shall be a private sale or other private proceedings
permitted by such requirements shall be made upon not less than 10 days’ prior written notice to the relevant Assignor specifying the time at which such disposition is to be made and the intended sale price or other consideration therefor, and
shall be subject, for the 10 days after the giving of such notice, to the right of the relevant Assignor or any nominee of such Assignor to acquire the Collateral involved at a price or for such other consideration at least equal to the intended
sale price or other consideration so specified. Any such sale, lease or other disposition may be effected by means of a public disposition or private disposition, effected in accordance with the applicable requirements (in each case if and to the
extent applicable) of Sections 9-610 through 9-613 of the UCC and/or such other mandatory requirements of applicable law as may apply to the respective disposition. The Collateral Agent may, without notice or publication, adjourn any public or
private disposition or cause the same to be adjourned from time to time by announcement at the time and place fixed for the disposition, and such disposition may be made at any time or place to which the disposition may be so adjourned. To the
extent permitted by any such requirement of law, the Collateral Agent may bid for and become the purchaser (and may pay all or any portion of the purchase price by crediting Obligations against the purchase price) of the Collateral or any item
thereof, offered for sale in accordance with this Section 7.2 without accountability to the relevant Assignor. If, under applicable law, the Collateral Agent shall be permitted to make a disposition of the Collateral within a period of
time which does not permit the giving of notice to the relevant Assignor as hereinabove specified, the Collateral Agent need give such Assignor only such notice of disposition as shall be reasonably practicable in view of such applicable law. Each
Assignor agrees to do or cause to be done all such other acts and things as may be reasonably necessary to make such disposition or dispositions of all or any portion of the Collateral valid 

  
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and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities,
domestic or foreign, having jurisdiction over any such sale or sales, all at such Assignor’s expense. 
 7.3 Waiver of Claims.
Except as otherwise provided in this Agreement, EACH ASSIGNOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN CONNECTION WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE COLLATERAL AGENT’S
DISPOSITION OF ANY OF THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT REMEDY OR REMEDIES, and each Assignor hereby further waives, to the extent permitted by law: 

(i) all damages occasioned by such taking of possession or any such disposition except any damages which are the direct result
of the Collateral Agent’s gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision); 

(ii) except as otherwise expressly provided in this Agreement, all other requirements as to the time, place and terms of sale
or other requirements with respect to the enforcement of the Collateral Agent’s rights hereunder; and 
 (iii) all
rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in force under any applicable law in order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion
thereof, and each Assignor, for itself and all who may claim under it, insofar as it or they now or hereafter lawfully may, hereby waives the benefit of all such laws. 

Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral shall operate to divest all right, title, interest, claim and
demand, either at law or in equity, of the relevant Assignor therein and thereto, and shall be a perpetual bar both at law and in equity against such Assignor and against any and all Persons claiming or attempting to claim the Collateral so sold,
optioned or realized upon, or any part thereof, from, through and under such Assignor. 
 7.4 Application of Proceeds. (a) All
moneys collected by the Collateral Agent upon any sale or other disposition of the Collateral (and, to the extent the Pledge Agreement or any other Security Document requires proceeds of collateral under such other Security Document to be applied in
accordance with the provisions of this Agreement, all monies collected by the Pledgee or collateral agent under such other Security Document upon any sale or other disposition of the collateral under any such Security Document), together with all
other moneys received by the Collateral Agent hereunder and under each other Security Document, shall be applied as follows: 

(i) first, to the payment of all amounts owing the Collateral Agent of the type described in clauses (iii),
(iv) and (v) of the definition of “Obligations”; 

  
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 (ii) second, to the extent proceeds remain after the application pursuant
to preceding clause (i), an amount equal to the outstanding Primary Obligations shall be paid to the Secured Creditors as provided in Section 7.4(e) hereof, with each Secured Creditor receiving an amount equal to its outstanding Primary
Obligations or, if the proceeds are insufficient to pay in full all such Primary Obligations, its Pro Rata Share of such amount remaining to be distributed; 

(iii) third, to the extent proceeds remain after the application pursuant to preceding clauses (i) and (ii), an
amount equal to the outstanding Secondary Obligations shall be paid to the Secured Creditors as provided in Section 7.4(e) hereof, with each Secured Creditor receiving an amount equal to its outstanding Secondary Obligations or, if the
proceeds are insufficient to pay in full all such Secondary Obligations, its Pro Rata Share of such amount remaining to be distributed; and 

(iv) fourth, to the extent proceeds remain after the application pursuant to preceding clauses (i) through (iii),
inclusive, and following the termination of this Agreement pursuant to Section 10.8(a) hereof, to the relevant Assignor or to whomever may be lawfully entitled to receive such surplus. 

(b) For purposes of this Agreement, (x) “Pro Rata Share” shall mean, when calculating a Secured Creditor’s portion
of any distribution or amount, that amount (expressed as a percentage) equal to a fraction the numerator of which is the then unpaid amount of such Secured Creditor’s Primary Obligations or Secondary Obligations, as the case may be, and the
denominator of which is the then outstanding amount of all Primary Obligations or Secondary Obligations, as the case may be, (y) “Primary Obligations” shall mean (i) in the case of the Credit Document Obligations, all
principal of, premium, fees and interest on, all Loans, all Unpaid Drawings, all contingent reimbursement obligations equal to the Stated Amount of all outstanding Letters of Credit and all Fees, and (ii) in the case of the Other Obligations,
all amounts due under each Interest Rate Protection Agreement and each Other Hedging Agreement with an Other Creditor (other than indemnities, fees (including, without limitation, attorneys’ fees) and similar obligations and liabilities) and
(z) “Secondary Obligations” shall mean all Obligations other than Primary Obligations. 
 (c) When payments to Secured
Creditors are based upon their respective Pro Rata Shares, the amounts received by such Secured Creditors hereunder shall be applied (for purposes of making determinations under this Section 7.4 only) (i) first, to their Primary
Obligations and (ii) second, to their Secondary Obligations. If any payment to any Secured Creditor of its Pro Rata Share of any distribution would result in overpayment to such Secured Creditor, such excess amount shall instead be distributed
in respect of the unpaid Primary Obligations or Secondary Obligations, as the case may be, of the other Secured Creditors, with each Secured Creditor whose Primary Obligations or Secondary Obligations, as the case may be, have not been paid in full
to receive an amount equal to such excess amount multiplied by a fraction the numerator of which is the unpaid Primary Obligations or Secondary Obligations, as the case may be, of such Secured Creditor entitled to distribution and the denominator of
which is the unpaid Primary Obligations or Secondary Obligations, as the case may be, of all Secured Creditors entitled to such distribution. 

  
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 (d) Each of the Secured Creditors, by their acceptance of the benefits hereof and of the other
Security Documents, agrees and acknowledges that if the Lender Creditors are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued under the Credit Agreement (which shall only occur after all outstanding
Revolving Loans and Swingline Loans under the Credit Agreement and Unpaid Drawings have been paid in full), such amounts shall be paid to the Administrative Agent under the Credit Agreement and held by it, for the equal and ratable benefit of the
Lender Creditors, as cash security for the repayment of Obligations owing to the Lender Creditors as such. If any amounts are held as cash security pursuant to the immediately preceding sentence, then upon the termination of all outstanding Letters
of Credit under the Credit Agreement, and after the application of all such cash security to the repayment of all Obligations owing to the Lender Creditors after giving effect to the termination of all such Letters of Credit, if there remains any
excess cash, such excess cash shall be returned by the Administrative Agent to the Collateral Agent for distribution in accordance with Section 7.4(a) hereof. 

(e) All payments required to be made hereunder shall be made (x) if to the Lender Creditors, to the Administrative Agent for the account
of the Lender Creditors, and (y) if to the Other Creditors, to the trustee, paying agent or other similar representative (each, a “Representative”) for the Other Creditors or, in the absence of such a Representative, directly
to the Other Creditors. 
 (f) For purposes of applying payments received in accordance with this Section 7.4, the Collateral
Agent shall be entitled to rely upon (i) the Administrative Agent and (ii) the Representative or, in the absence of such a Representative, upon the Other Creditors for a determination (which the Administrative Agent, each Representative
and the Secured Creditors agree (or shall agree) to provide upon request of the Collateral Agent) of the outstanding Obligations owed to the Lender Creditors or the Other Creditors, as the case may be. Unless it has received written notice from a
Lender Creditor or an Other Creditor to the contrary, the Administrative Agent and each Representative, in furnishing information pursuant to the preceding sentence, and the Collateral Agent, in acting hereunder, shall be entitled to assume that no
Secondary Obligations are outstanding. Unless it has written notice from an Other Creditor to the contrary, the Collateral Agent, in acting hereunder, shall be entitled to assume that no Interest Rate Protection Agreements or Other Hedging
Agreements are in existence. 
 (g) This Agreement is made with full recourse to each Assignor and pursuant to and upon all the warranties,
representations, covenants and agreements on the part of such Assignor contained herein, in the Secured Debt Agreements and otherwise in writing in connection herewith or therewith. It is understood that each Assignor shall remain jointly and
severally liable to the extent of any deficiency between the amount of the proceeds of the Collateral and the aggregate amount of the Obligations. 

7.5 Remedies Cumulative. Each and every right, power and remedy hereby specifically given to the Collateral Agent shall be in addition
to every other right, power and remedy specifically given to the Collateral Agent under this Agreement, the other Secured Debt Agreements or now or hereafter existing at law, in equity or by statute and each and every right, power and remedy whether
specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be deemed expedient 

  
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by the Collateral Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning of the exercise of one shall not be deemed a waiver of the right to exercise
any other or others. No delay or omission of the Collateral Agent in the exercise of any such right, power or remedy and no renewal or extension of any of the Obligations shall impair any such right, power or remedy or shall be construed to be a
waiver of any Default or Event of Default or an acquiescence thereof. No notice to or demand on any Assignor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the
rights of the Collateral Agent to any other or further action in any circumstances without notice or demand. In the event that the Collateral Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then
in such suit the Collateral Agent may recover reasonable expenses, including reasonable attorneys’ fees, and the amounts thereof shall be included in such judgment. 

7.6 Discontinuance of Proceedings. In case the Collateral Agent shall have instituted any proceeding to enforce any right, power or
remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Collateral Agent, then and in every such case the
relevant Assignor, the Collateral Agent and each holder of any of the Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all
rights, remedies and powers of the Collateral Agent shall continue as if no such proceeding had been instituted. 
 ARTICLE VIII 

INDEMNITY 
 8.1 Indemnity.
(a) Without limiting the provisions of the other Secured Debt Agreements, each Assignor jointly and severally agrees to indemnify, reimburse and hold the Collateral Agent, each other Secured Creditor (in its capacity as such) and their
respective successors, assigns, employees, affiliates, advisors and agents (as to any Indemnitee, its “Related Parties”) (hereinafter in this Section 8.1 referred to individually as “Indemnitee,” and
collectively as “Indemnitees”) harmless from any and all liabilities, obligations, damages, injuries, penalties, claims, demands, actions, suits, judgments and any and all costs, expenses or disbursements (including reasonable
attorneys’ fees and expenses (limited, in the case of any Event of Default, to one counsel to the Collateral Agent, one additional counsel for all Issuing Lenders and Lenders, taken as a whole, one local counsel for the Collateral Agent and the
Lenders, taken as a whole, in each relevant jurisdiction, and, solely in the case of an actual or perceived conflict of interests, one additional counsel in each relevant jurisdiction to each group of affected Lenders similarly situated, taken as a
whole)) (for the purposes of this Section 8.1 the foregoing are collectively called “expenses”) of whatsoever kind and nature imposed on, asserted against or incurred by any of the Indemnitees in any way relating to or arising
out of this Agreement or the enforcement of any of the terms hereof, or the preservation of any rights hereunder, or in any way relating to or arising out of the manufacture, ownership, ordering, purchase, delivery, control, acceptance, lease,
financing, possession, operation, condition, sale, return or other disposition, or use of the Collateral (including, without limitation, latent or other defects, whether or not discoverable), the violation of the laws of any country, state or other
governmental body or unit, any tort (including, without limitation, claims arising or imposed 

  
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under the doctrine of strict liability, or for or on account of injury to or the death of any Person (including any Indemnitee), or property damage), or contract claim; provided that no
Indemnitee shall be indemnified pursuant to this Section 8.1(a) for losses, damages or liabilities to the extent caused by the gross negligence or willful misconduct of such Indemnitee or its Related Parties (as determined by a court of
competent jurisdiction in a final and non-appealable decision). Each Assignor agrees that upon written notice by any Indemnitee of the assertion of such a liability, obligation, damage, injury, penalty, claim, demand, action, suit or judgment, the
relevant Assignor shall assume full responsibility for the defense thereof. Each Indemnitee agrees to use its best efforts to promptly notify the relevant Assignor of any such assertion of which such Indemnitee has knowledge. 

(b) Without limiting the application of Section 8.1(a) hereof, each Assignor agrees, jointly and severally, to pay or reimburse
the Collateral Agent for any and all reasonable and documented fees, costs and expenses of whatever kind or nature incurred in connection with the creation, preservation or protection of the Collateral Agent’s Liens on, and security interest
in, the Collateral, including, without limitation, all fees and taxes in connection with the recording or filing of instruments and documents in all applicable public offices, payment or discharge of any taxes or Liens upon or in respect of the
Collateral, premiums for insurance with respect to the Collateral and all reasonable and documented other fees, costs and expenses in connection with protecting, maintaining or preserving the Collateral and the Collateral Agent’s interest
therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising out of or relating to the Collateral. 

(c) Without limiting the application of Section 8.1(a) or (b) hereof, each Assignor agrees, jointly and severally, to
pay, indemnify and hold each Indemnitee harmless from and against any loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur in consequence of or growing out of any misrepresentation by any Assignor in this Agreement or
in any writing contemplated by or made or delivered pursuant to or in connection with this Agreement. 
 (d) If and to the extent that the
obligations of any Assignor under this Section 8.1 are unenforceable for any reason, such Assignor hereby agrees to make the maximum contribution to the payment and satisfaction of such obligations which is permissible under applicable
law. 
 8.2 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any Indemnitee as to which such Indemnitee has
the right to reimbursement shall constitute Obligations secured by the Collateral. The indemnity obligations of each Assignor contained in this Article VIII shall continue in full force and effect notwithstanding the full payment of all of
the other Obligations and notwithstanding the full payment of all the Notes issued, and Loans made, under the Credit Agreement, the termination of all Letters of Credit issued under the Credit Agreement, the termination of all Interest Rate
Protection Agreements and Other Hedging Agreements entered into with the Other Creditors and the payment of all other Obligations and notwithstanding the discharge thereof and the occurrence of the Termination Date. 

  
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 ARTICLE IX 

DEFINITIONS 
 The following terms
shall have the meanings herein specified. Such definitions shall be equally applicable to the singular and plural forms of the terms defined. 

“Account” shall mean any “account” as such term is defined in the UCC as in effect on the date hereof in the State
of New York, and in any event shall include but shall not be limited to, all rights to payment of any monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned or
otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a secondary obligation incurred or to be incurred, (iv) for energy provided or to be provided, (v) arising out of the use of a credit or charge card
or information contained on or for use with the card, or (vi) as winnings in a lottery or other game of chance operated or sponsored by a State, governmental unit of a State, or person licensed or authorized to operate the game by a State or
governmental unit of a State. Without limiting the foregoing, the term “account” shall include all Health-Care-Insurance Receivables. 

“Administrative Agent” shall have the meaning provided in the recitals of this Agreement. 

“Agreement” shall mean this Security Agreement as the same may be amended, modified, restated and/or supplemented from time
to time in accordance with its terms. 
 “As-Extracted Collateral” shall mean “as-extracted collateral” as such
term is defined in the UCC as in effect on the date hereof in the State of New York. 
 “Assignor” shall have the meaning
provided in the first paragraph of this Agreement. 
 “Borrower” shall have the meaning provided in the recitals of this
Agreement. 
 “Cash Collateral Account” shall mean a non-interest bearing cash collateral account maintained with, and in
the sole dominion and control of, the Collateral Agent for the benefit of the Secured Creditors. 
 “Chattel Paper” shall
mean “chattel paper” as such term is defined in the UCC as in effect on the date hereof in the State of New York. Without limiting the foregoing, the term “Chattel Paper” shall in any event include all Tangible Chattel Paper and
all Electronic Chattel Paper. 
 “Class” shall have the meaning provided in Section 10.2 of this Agreement.

 “Collateral” shall have the meaning provided in Section 1.1(a) of this Agreement. 

“Collateral Agent” shall have the meaning provided in the first paragraph of this Agreement. 

  
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 “Commercial Tort Claims” shall mean “commercial tort claims” as such
term is defined in the UCC as in effect on the date hereof in the State of New York. 
 “Contract Rights” shall mean all
rights of any Assignor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all
Contracts, and (iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts. 

“Contracts” shall mean all contracts between any Assignor and one or more additional parties (including, without limitation,
any Interest Rate Protection Agreements, Other Hedging Agreements, licensing agreements and any partnership agreements, joint venture agreements and limited liability company agreements). 

“Copyrights” shall mean any United States or foreign copyright owned by any Assignor, including any registrations of any
copyrights, in the United States Copyright Office or any foreign equivalent office, as well as any application for a copyright registration made with the United States Copyright Office or any foreign equivalent office by any Assignor. 

“Credit Agreement” shall have the meaning provided in the recitals of this Agreement. 

“Credit Document Obligations” shall have the meaning provided in the definition of “Obligations” in this Article
IX. 
 “Credit Documents” shall have the meaning provided in the Credit Agreement, as such documents may be amended,
modified, restated and/or supplemented from time to time in connection with the Credit Agreement. 
 “Deposit Accounts”
shall mean all “deposit accounts” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Documents” shall mean “documents” as such term is defined in the UCC as in effect on the date hereof in the State
of New York. 
 “Domain Names” shall mean all Internet domain names and associated URL addresses in or to which any
Assignor has any right, title or interest. 
 “Electronic Chattel Paper” shall mean “electronic chattel paper” as
such term is defined in the UCC as in effect on the date hereof in the State of New York. 
 “Equipment” shall mean any
“equipment” as such term is defined in the UCC as in effect on the date hereof in the State of New York now or hereafter owned by any Assignor, and in any event, shall include, but shall not be limited to, all machinery, equipment,
furnishings, fixtures and vehicles now or hereafter owned by any Assignor and any and all additions, substitutions and replacements of any of the foregoing and all accessions thereto, wherever located, together with all attachments, components,
parts, equipment and accessories installed thereon or affixed thereto. 

  
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 “Event of Default” shall mean any Event of Default under, and as defined in, the
Credit Agreement. 
 “Excluded Collateral” shall mean (i) any Contract that validly prohibits, restricts or requires
the consent not obtained of a third party (other than Holdings or a Subsidiary thereof) for the creation by such Assignor of a security interest in such Contract (or in any rights or property obtained by such Assignor under such Contracts) except to
the extent that any such prohibition or restriction would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 and 9-409 of the UCC (or any successor provision or provisions) or any other applicable law (including the Bankruptcy Code),
(ii) any property subject to a Lien permitted by Section 10.01(vi), (vii), (ix), (xii), (xiv) or (xv) of the Credit Agreement, to the extent that the contractual arrangements governing such Lien expressly prohibit the granting of
a security interest hereunder in such property, (iii) any property to the extent that such grant of a security interest is prohibited by a governmental authority, or requires a consent not obtained of any governmental authority, (iv) the
Equity Interests in Persons that are not Wholly-Owned Subsidiaries of Holdings but only to the extent that the pledge of such Equity Interests is not permitted hereunder by the terms of any agreement or organizational document of such Person and
only so long as such contractual prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC, the Bankruptcy Code or any other requirement of law, (v) any Equity Interests in (x) the Captive Insurance
Subsidiary (to the extent that a pledge of a security interest in the Equity Interests of the Captive Insurance Company is prohibited by applicable law or regulation) and (y) Persons that are Foreign Subsidiaries in excess of 65% of the total
outstanding voting securities of such Foreign Subsidiary and (vi) any asset for which the cost of obtaining a security interest in such asset is excessive in relation to the value of the security to be offered thereby (as reasonably determined
by the Collateral Agent) so long as, in the case of this clause (vi), the applicable Assignor delivers a written request to the Collateral Agent specifically identifying (x) the applicable assets, the value thereof and the cost of obtaining a
security interest therein and (y) the steps not to be taken with respect to obtaining a security interest in such assets, and such written request is acknowledged and agreed to by the Collateral Agent in writing. 

“General Intangibles” shall mean “general intangibles” as such term is defined in the UCC as in effect on the date
hereof in the State of New York. 
 “Goods” shall mean “goods” as such term is defined in the UCC as in effect on
the date hereof in the State of New York. 
 “Health-Care-Insurance Receivable” shall mean any “health-care-insurance
receivable” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 
 “Holdings”
shall have the meaning provided in the recitals hereto. 
 “Indemnitee” shall have the meaning provided in
Section 8.1(a) of this Agreement. 
 “Instrument” shall mean “instruments” as such term is defined in
the UCC as in effect on the date hereof in the State of New York. 

  
 Page 23 

 “Inventory” shall mean merchandise, inventory and goods, and all additions,
substitutions and replacements thereof and all accessions thereto, wherever located, together with all goods, supplies, incidentals, packaging materials, labels, materials and any other items used or usable in manufacturing, processing, packaging or
shipping same, in all stages of production from raw materials through work in process to finished goods, and all products and proceeds of whatever sort and wherever located any portion thereof which may be returned, rejected, reclaimed or
repossessed by the Collateral Agent from any Assignor’s customers, and shall specifically include all “inventory” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Investment Property” shall mean “investment property” as such term is defined in the UCC as in effect on the date
hereof in the State of New York. 
 “Lender Creditors” shall have the meaning provided in the recitals of this Agreement.

 “Lenders” shall have the meaning provided in the recitals of this Agreement. 

“Letter-of-Credit Rights” shall mean “letter-of-credit rights” as such term is defined in the UCC as in effect on
the date hereof in the State of New York. 
 “Marks” shall mean any trademarks, service marks and trade names owned by any
Assignor, including any registration or application for registration of any trademarks and service marks owned by any Assignor, which are registered or filed in the United States Patent and Trademark Office or the equivalent thereof in any state of
the United States or any equivalent foreign office or agency, as well as any unregistered trademarks and service marks owned by any Assignor and any trade dress owned by any Assignor. 

“Obligations” shall mean and include, as to any Assignor, all of the following: 

(i) the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations,
liabilities and indebtedness (including, without limitation, principal, premium, interest, reimbursement obligations (both actual and contingent) under Letters of Credit, fees, cost and indemnities (including, in each case, without limitation, all
interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding of any Assignor at the rate provided for in the respective documentation, whether or
not a claim for post-petition interest is allowed in any such proceeding) of such Assignor to the Lender Creditors, whether now existing or hereafter incurred under, arising out of, or in connection with, the Credit Agreement and the other Credit
Documents to which such Assignor is a party (including, without limitation, in the event such Assignor is a Guarantor, all such obligations, liabilities and indebtedness of such Assignor under its Guaranty) and the due performance and compliance by
such Assignor with all of the terms, conditions and agreements contained in the Credit Agreement and in such other Credit Documents (all such obligations, liabilities and indebtedness under this clause (i), except to the extent consisting of
obligations or indebtedness with respect to Interest Rate Protection Agreements or Other Hedging Agreements, being herein collectively called the “Credit Document Obligations”); 

  
 Page 24 

 (ii) the full and prompt payment when due (whether at stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including, in each case, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency, reorganization or similar proceeding of any Assignor at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed in any such proceeding) owing by each Assignor to the Other
Creditors, now existing or hereafter incurred under, arising out of or in connection with any Interest Rate Protection Agreement or Other Hedging Agreement, whether such Interest Rate Protection Agreement or Other Hedging Agreement is now in
existence or hereinafter arising (including, without limitation, in the case of an Assignor that is a Guarantor, all obligations, liabilities and indebtedness of such Assignor under its Guaranty in respect of the Interest Rate Protection Agreements
and Other Hedging Agreements), and the due performance and compliance by such Assignor with all of the terms, conditions and agreements contained in each such Interest Rate Protection Agreement and Other Hedging Agreement (all such obligations,
liabilities and indebtedness under this clause (ii) being herein collectively called the “Other Obligations”); 

(iii) any and all sums advanced by the Collateral Agent in order to preserve the Collateral or preserve its security interest
in the Collateral; 
 (iv) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations,
or liabilities of such Assignor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise
disposing of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys’ fees and court costs; and 

(v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to reimbursement under Section 8.1
of this Agreement; 
 it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the types described above,
whether outstanding on the date of this Agreement or extended from time to time after the date of this Agreement but shall exclude any Excluded Swap Obligations. 

“Other Creditors” shall have the meaning provided in the recitals of this Agreement. 

“Other Obligations” shall have the meaning provided in the definition of “Obligations” in this Article IX.

 “Patents” shall mean any United States or foreign patent owned by any Assignor, and any divisions, continuations
(including, but not limited to, continuations-in-parts) and improvements thereof. 

  
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 “Permits” shall mean, to the extent permitted to be assigned by the terms
thereof or by applicable law, all licenses, permits, rights, orders, variances, franchises or authorizations of or from any governmental authority or agency. 

“Primary Obligations” shall have the meaning provided in Section 7.4(b) of this Agreement. 

“Pro Rata Share” shall have the meaning provided in Section 7.4(b) of this Agreement. 

“Proceeds” shall mean all “proceeds” as such term is defined in the UCC as in effect in the State of New York on
the date hereof and, in any event, shall also include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Collateral Agent or any Assignor from time to time with respect to any of
the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to any Assignor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the
Collateral by any governmental authority (or any person acting under color of governmental authority) and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“Registered Organization” shall have the meaning provided in the UCC as in effect in the State of New York. 

“Representative” shall have the meaning provided in Section 7.4(e) of this Agreement. 

“Required Secured Creditors” shall mean at any time when any Credit Document Obligations are outstanding (other than
contingent indemnity obligations that are not then due and payable) or any Commitments or Letters of Credit under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the
Lenders). 
 “Requisite Creditors” shall have the meaning provided in Section 10.2 of this Agreement. 

“Secondary Obligations” shall have the meaning provided in Section 7.4(b) of this Agreement. 

“Secured Creditors” shall have the meaning provided in the recitals of this Agreement. 

“Secured Debt Agreements” shall mean and include (i) this Agreement and the other Credit Documents and (ii) the
Interest Rate Protection Agreements and Other Hedging Agreements entered into with an Other Creditor. 
 “Securities
Accounts” shall mean all “securities accounts” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

  
 Page 26 

 “Software” shall mean “software” as such term is defined in the UCC as
in effect on the date hereof in the State of New York. 
 “Supporting Obligations” shall mean any “supporting
obligation” as such term is defined in the UCC as in effect on the date hereof in the State of New York, now or hereafter owned by any Assignor, or in which any Assignor has any rights, and, in any event, shall include, but shall not be limited
to, all of such Assignor’s rights in any Letter-of-Credit Right or secondary obligation that supports the payment or performance of, and all security for, any Account, Chattel Paper, Document, General Intangible, Instrument or Investment
Property. 
 “Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined in the UCC as
in effect on the date hereof in the State of New York. 
 “Termination Date” shall have the meaning provided in
Section 10.8(a) of this Agreement. 
 “Trade Secrets” shall mean any trade secrets or other proprietary and
confidential information including financial data, personal information, customer lists, supplier lists, business plans, and data collections, to the extent each of the foregoing constitute trade secrets, to which any Assignor has any right, title
or interest therein. 
 “Transmitting Utility” shall have the meaning given such term in Section 9-102(a)(80) of the
UCC. 
 “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction. 

ARTICLE X 
 MISCELLANEOUS 

10.1 Notices. Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the respective
parties hereto shall be sent or delivered by mail, telecopy or courier service and all such notices and communications shall, when mailed, telecopied or sent by courier, be effective when deposited in the mails, delivered to the overnight courier,
or sent by telecopier, except that notices and communications to the Collateral Agent or any Assignor shall not be effective until received by the Collateral Agent or such Assignor, as the case may be. All notices and other communications shall be
in writing and addressed as follows: 
 (a) if to any Assignor, at: 

c/o Town Sports International, LLC 

5 Penn Plaza 
 4th Floor 
 New York, New York 10001 

Attention: Dan Gallagher 

Telephone No.: (212) 246-6700 

Telecopier No.: 

  
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 (b) if to the Collateral Agent, at: 

60 Wall Street 
 New York, NY
10005 
 Attn: MaryKay Coyle 

Tel: 
 Fax: 

e-mail: 
 (c) if
to any Lender Creditor (other than the Collateral Agent), at such address as such Lender Creditor shall have specified in the Credit Agreement; 

(d) if to any Other Creditor, at such address as such Other Creditor shall have specified in writing to the Borrower and the
Collateral Agent; 
 or at such other address or addressed to such other individual as shall have been furnished in writing by any Person described above to
the party required to give notice hereunder. 
 10.2 Waiver; Amendment. Except as provided in the Credit Agreement, none of the terms
and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each Assignor directly affected thereby (it being understood that the addition or release of any Assignor hereunder
shall not constitute a change, waiver, discharge or termination affecting any Assignor other than the Assignor so added or released) and the Collateral Agent (with the written consent of the Required Secured Creditors); provided,
however, (i) that any change, waiver, modification or variance affecting the rights and benefits of a single Class of Secured Creditors (and not all Secured Creditors in a like or similar manner) also shall require the written consent of
the Requisite Creditors of such affected Class, (ii) supplements to the Annexes hereto and to the other Security Documents may be made without the consent of any Secured Creditor, other than the Collateral Agent, as provided herein or therein,
and (iii) Assignors may be released from their obligations hereunder and under the other Security Documents and new Assignors may be added hereto and to the other Security Documents without the consent of any Secured Creditors other than the
Collateral Agent, as provided herein or therein. For the purpose of this Agreement and each other Security Document, the term “Class” shall mean each class of Secured Creditors, i.e., whether (x) the Lender Creditors as
holders of the Credit Document Obligations or (y) the Other Creditors as the holders of the Other Obligations. For the purpose of this Agreement, the term “Requisite Creditors” of any Class shall mean each of (x) with
respect to the Credit Document Obligations, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders), and (y) with respect to the Other Obligations, the holders of at least a majority
of all Other Obligations outstanding from time to time. 
 10.3 Obligations Absolute. The obligations of each Assignor hereunder
shall remain in full force and effect without regard to, and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of such Assignor; (b) any exercise or
non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this Agreement or any other Secured Debt Agreement; 

  
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or (c) any amendment to or modification of any Secured Debt Agreement or any security for any of the Obligations; whether or not such Assignor shall have notice or knowledge of any of the
foregoing. 
 10.4 Successors and Assigns. This Agreement shall create a continuing security interest in the Collateral and shall
(i) remain in full force and effect, subject to release and/or termination as set forth in Section 10.8 hereof, (ii) be binding upon each Assignor, its successors and assigns; provided, however, that no Assignor
shall assign any of its rights or obligations hereunder or under the other Credit Documents without the prior written consent of the Collateral Agent (with the prior written consent of the Required Secured Creditors), and (iii) inure, together
with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent, the other Secured Creditors and their respective successors, transferees and assigns. All agreements, statements, representations and warranties
made by each Assignor herein or in any certificate or other instrument delivered by such Assignor or on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and
delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 

10.5 Headings Descriptive. The headings of the several sections of this Agreement are inserted for convenience only and shall not in
any way affect the meaning or construction of any provision of this Agreement. 
 10.6 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE;
WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS
AGREEMENT OR ANY OTHER CREDIT DOCUMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, BOROUGH OF MANHATTAN, AND, BY
EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH ASSIGNOR HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH ASSIGNOR HEREBY FURTHER IRREVOCABLY
WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH ASSIGNOR, AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN ANY OF THE AFORESAID
COURTS THAT ANY SUCH COURT LACKS PERSONAL JURISDICTION OVER SUCH ASSIGNOR. EACH ASSIGNOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF
BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH ASSIGNOR AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 10.1 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY
OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD 

  
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OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN, HOWEVER, SHALL
AFFECT THE RIGHT OF THE COLLATERAL AGENT UNDER THIS AGREEMENT, OR ANY SECURED CREDITOR, TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY ASSIGNOR IN ANY OTHER JURISDICTION. 

(b) EACH ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID
ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH
COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (c) EACH OF THE PARTIES TO
THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

10.7 Assignor’s Duties. It is expressly agreed, anything herein contained to the contrary notwithstanding, that, prior to the
Termination Date, each Assignor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and, except as otherwise provided in Section 10.11 hereof, the Collateral Agent shall not have
any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Assignor under or
with respect to any Collateral. 
 10.8 Termination; Release. (a) After the Termination Date, this Agreement shall terminate
(provided that all indemnities set forth herein including, without limitation in Section 8.1 hereof, shall survive such termination) and the Collateral Agent, at the request and expense of the respective Assignor, will promptly execute
and deliver to such Assignor a proper instrument or instruments (including UCC termination statements on form UCC-3) acknowledging the satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to such Assignor
(without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Collateral Agent and as has not theretofore been sold or otherwise applied or released pursuant to this Agreement. As used in
this Agreement, “Termination Date” shall mean the date upon which the Total Commitment under the Credit Agreement has been terminated, no Note under the Credit Agreement is outstanding and all Loans thereunder have been repaid in
full, all Letters of Credit issued under the Credit Agreement have been terminated and all other Credit Document Obligations then due and payable have been paid in full. 

  
 Page 30 

 (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person
other than a Credit Party in accordance with the Credit Agreement) or any other transaction expressly permitted by the Credit Agreement requires a release of the relevant Collateral (x) at any time prior to the time at which all Credit Document
Obligations have been paid in full and all Commitments and Letters of Credit under the Credit Agreement have been terminated, in connection with a sale or disposition permitted by the Secured Debt Agreements or is otherwise released at the direction
of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit Agreement) or (y) at any time thereafter, to the extent permitted by the other Secured Debt Agreements, and in the case of clauses (x) and (y), the
proceeds of such sale or other disposition (or from such release) are applied in accordance with the terms of the Credit Agreement or such other Secured Debt Agreements, as the case may be, to the extent required to be so applied, the Collateral
Agent, at the request and expense of such Assignor, will duly release from the security interest created hereby (and will execute and deliver such documentation, including termination or partial release statements and the like in connection
therewith) and assign, transfer and deliver to such Assignor (without recourse and without any representation or warranty) such of the Collateral as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the
possession of the Collateral Agent and has not theretofore been released pursuant to this Agreement. Furthermore, upon the release of any Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, such Assignor
(and the Collateral at such time assigned by the respective Assignor pursuant hereto) shall be released from this Agreement. 
 (c) At any
time that an Assignor desires that the Collateral Agent take any action to acknowledge or give effect to any release of Collateral pursuant to the foregoing Section 10.8(a) or (b), such Assignor shall deliver to the Collateral
Agent a certificate signed by a senior officer of such Assignor stating that the release of the respective Collateral is permitted pursuant to such Section 10.8(a) or (b). At any time that the Borrower or the respective Assignor
desires that a Subsidiary of the Borrower which has been released from the Subsidiaries Guaranty be released hereunder as provided in the last sentence of Section 10.8(b) hereof, it shall deliver to the Collateral Agent a certificate
signed by a principal executive officer of the Borrower and the respective Assignor stating that the release of the respective Assignor (and its Collateral) is permitted pursuant to such Section 10.8(b). 

(d) The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as the result of any release of Collateral by it in
accordance with (or which the Collateral Agent in the absence of gross negligence and willful misconduct believes to be in accordance with) this Section 10.8. 

10.9 Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and
the Collateral Agent. Delivery of an executed counterpart hereof by facsimile or other electronic transmission shall be as effective as delivery of any original executed counterpart hereof. 

10.10 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such 

  
 Page 31 

 
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 10.11 The Collateral Agent and the other Secured Creditors. The Collateral Agent will
hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. It is expressly understood and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests therein and
with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Section 12 of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions
set forth herein and in Section 12 of the Credit Agreement. 
 10.12 Additional Assignors. It is understood and agreed that any
Subsidiary Guarantor that desires to become an Assignor hereunder, or is required to execute a counterpart of this Agreement after the date hereof pursuant to the respective Secured Debt Agreements, shall become an Assignor hereunder by executing a
counterpart hereof and delivering same to the Collateral Agent, or by executing a Joinder Agreement, (y) delivering supplements to Annexes A through G, inclusive, hereto as are necessary to cause such Annexes to be complete and
accurate with respect to such additional Assignor on such date, and (z) taking all actions as specified in this Agreement as would have been taken by such Assignor had it been an original party to this Agreement, in each case with all documents
required above to be delivered to the Collateral Agent and with all documents and actions required above to be taken to the reasonable satisfaction of the Collateral Agent. 

[Remainder of this page intentionally left blank; signature page follows] 

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

			
	TOWN SPORTS INTERNATIONAL, LLC,
		 	as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	Name: Daniel Gallagher
		 	Title: Chief Financial Officer
	
	TSI HOLDINGS II, LLC,
		 	as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	Name: Daniel Gallagher
		 	Title: Chief Financial Officer
	
	BFX WEST 65TH STREET, LLC
	BOUTIQUE FITNESS, LLC
	TSI 217 BROADWAY, LLC
	TSI ALEXANDRIA, LLC
	TSI ALEXANDRIA WEST, LLC
	TSI ALLSTON, LLC
	TSI ANDOVER, LLC
	TSI ARDMORE, LLC
	TSI ARTHRO-FITNESS SERVICES, LLC
	TSI ASTORIA, LLC
	TSI AVENUE A, LLC
	TSI BACK BAY, LLC
	TSI BATTERY PARK, LLC
	TSI BAY RIDGE 86TH STREET, LLC
	TSI BAYONNE, LLC
	TSI BAYRIDGE, LLC
	TSI BEACON STREET, LLC
	TSI BENSONHURST, LLC
	TSI BETHESDA, LLC
	TSI BOYLSTON, LLC,
		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	Name: Daniel Gallagher
		 	Title: Senior Vice President - Chief Financial Officer

  
 Page 33 

 
			
	TSI BROADWAY, LLC
	TSI BROOKLYN BELT, LLC
	TSI BRUNSWICK, LLC
	TSI BULFINCH, LLC
	TSI BUTLER, LLC
	TSI CANTON, LLC
	TSI CARMEL, LLC
	TSI CASH MANAGEMENT, LLC
	TSI CENTRAL SQUARE, LLC
	TSI CHERRY HILL, LLC
	 TSI CHEVY CHASE, LLC

TSI CLARENDON, LLC
 TSI CLARENDON STREET, LLC

TSI CLIFTON, LLC
 TSI COBBLE HILL, LLC

TSI COLONIA, LLC
 TSI COLUMBIA HEIGHTS, LLC

TSI COMMACK, LLC
 TSI CONNECTICUT AVENUE, LLC

TSI COURT STREET, LLC
 TSI CROTON, LLC

TSI DANBURY, LLC
 TSI DAVIS SQUARE, LLC

TSI DEER PARK, LLC
 TSI DOBBS FERRY, LLC

TSI DORCHESTER, LLC
 TSI DOWNTOWN CROSSING, LLC

TSI DUPONT CIRCLE, INC.
 TSI DUPONT II, INC.

TSI EAST 23, LLC
 TSI EAST 31, LLC

TSI EAST 34, LLC
 TSI EAST 36, LLC

TSI EAST 41, LLC
 TSI EAST 48, LLC

TSI EAST 51, LLC
 TSI EAST 59, LLC

TSI EAST 76, LLC
 TSI EAST 86, LLC

TSI EAST 91, LLC,

		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	 Name: Daniel Gallagher

		 	 Title: Senior Vice President - Chief Financial Officer

  
 Page 34 

 
			
	 TSI EAST BRUNSWICK, LLC

TSI EAST MEADOW, LLC
 TSI ENGLEWOOD, LLC

TSI F STREET, LLC
 TSI FAIRFAX, LLC

TSI FENWAY, LLC
 TSI FIRST AVENUE, LLC

TSI FIT ACQUISITION, LLC
 TSI FOREST HILLS, LLC

TSI FORT LEE, LLC
 TSI FRAMINGHAM, LLC

TSI FRANKLIN (MA), LLC
 TSI FRANKLIN PARK, LLC

TSI FREEHOLD, LLC
 TSI GALLERY PLACE, LLC

TSI GARDEN CITY, LLC
 TSI GARNERVILLE, LLC

TSI GEORGETOWN, LLC
 TSI GERMANTOWN, LLC

TSI GLENDALE, LLC
 TSI GLOVER, LLC

TSI GRAND CENTRAL, LLC
 TSI GREAT NECK, LLC

TSI GREENPOINT, LLC
 TSI GREENWICH, LLC

TSI HARTSDALE, LLC
 TSI HAWTHORNE, LLC

TSI HERALD, LLC
 TSI HICKSVILLE, LLC

TSI HIGHPOINT, LLC
 TSI HOBOKEN, LLC

TSI HOBOKEN NORTH, LLC
 TSI HOLDINGS (CIP), LLC

TSI HOLDINGS (DC), LLC
 TSI HOLDINGS (IP), LLC

TSI HOLDINGS (MA), LLC
 TSI HOLDINGS (MD), LLC

TSI HOLDINGS (NJ), LLC
 TSI HOLDINGS (PA), LLC

TSI HOLDINGS (VA), LLC,

		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	 Name: Daniel Gallagher

		 	 Title: Senior Vice President - Chief Financial Officer

  
 Page 35 

 
			
	 TSI HUNTINGTON, LLC

TSI INTERNATIONAL, INC.
 TSI IRVING PLACE, LLC

TSI JAMAICA ESTATES, LLC
 TSI JERSEY CITY, LLC

TSI K STREET, LLC
 TSI LARCHMONT, LLC

TSI LEXINGTON (MA), LLC
 TSI LINCOLN, LLC

TSI LIVINGSTON, LLC
 TSI LONG BEACH, LLC

TSI LYNNFIELD, LLC
 TSI M STREET, LLC

TSI MAHWAH, LLC
 TSI MAMARONECK, LLC

TSI MARKET STREET, LLC
 TSI MARLBORO, LLC

TSI MATAWAN, LLC
 TSI MERCER STREET, LLC

TSI MIDWOOD, LLC
 TSI MONTCLAIR, LLC

TSI MORRIS PARK, LLC
 TSI MURRAY HILL, LLC

TSI NANUET, LLC
 TSI NATICK, LLC

TSI NEW ROCHELLE, LLC
 TSI NEWARK, LLC

TSI NEWBURY STREET, LLC
 TSI NEWTON, LLC

TSI NO SWEAT, LLC
 TSI NORTH BETHESDA, LLC

TSI NORWALK, LLC
 TSI OCEANSIDE, LLC

TSI OLD BRIDGE, LLC
 TSI PARSIPPANY, LLC

TSI PLAINSBORO, LLC
 TSI PORT JEFFERSON, LLC

TSI PRINCETON, LLC
 TSI PRINCETON NORTH, LLC

TSI PROVIDENCE DOWNTOWN, LLC,

		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	 Name: Daniel Gallagher

		 	 Title: Senior Vice President - Chief Financial Officer

  
 Page 36 

 
			
	 TSI PROVIDENCE EASTSIDE, LLC

TSI RADNOR, LLC
 TSI RAMSEY, LLC

TSI READE STREET, LLC
 TSI REGO PARK, LLC

TSI RIDGEWOOD, LLC
 TSI RODIN PLACE, LLC

TSI SCARSDALE, LLC
 TSI SEAPORT, LLC

TSI SHERIDAN, LLC
 TSI SILVER SPRING, LLC

TSI SMITHTOWN, LLC
 TSI SOCIETY HILL, LLC

TSI SOHO, LLC
 TSI SOMERS, LLC

TSI SOMERSET, LLC
 TSI SOUTH BETHESDA, LLC

TSI SOUTH END, LLC
 TSI SOUTH PARK SLOPE, LLC

TSI SOUTH STATION, LLC
 TSI SPRINGFIELD, LLC

TSI STAMFORD DOWNTOWN, LLC
 TSI STAMFORD POST, LLC

TSI STAMFORD RINKS, LLC
 TSI STATEN ISLAND, LLC

TSI STERLING, LLC
 TSI SUMMER STREET, LLC

TSI SUNNYSIDE, LLC
 TSI SYOSSET, LLC,

TSI UNIVERSITY MANAGEMENT, LLC
 TSI VARICK STREET, LLC

TSI WALL STREET, LLC
 TSI WALTHAM, LLC

TSI WASHINGTON, INC.
 TSI WATER STREET, LLC

TSI WATERTOWN, LLC
 TSI WAYLAND, LLC

TSI WELLESLEY, LLC
 TSI WELLINGTON CIRCLE, LLC

TSI WEST 14, LLC
 TSI WEST 16, LLC,

		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	 Name: Daniel Gallagher

		 	 Title: Senior Vice President - Chief Financial Officer

  
 Page 37 

 
			
	 TSI WEST 23, LLC
 TSI
WEST 38, LLC
 TSI WEST 41, LLC
 TSI WEST 44, LLC

TSI WEST 48, LLC
 TSI WEST 52, LLC

TSI WEST 73, LLC
 TSI WEST 76, LLC

TSI WEST 80, LLC
 TSI WEST 94, LLC

TSI WEST 115TH STREET, LLC
 TSI WEST 125, LLC

TSI WEST 145TH STREET, LLC
 TSI WEST CALDWELL, LLC

TSI WEST END, LLC
 TSI WEST HARTFORD, LLC

TSI WEST NEWTON, LLC
 TSI WEST NYACK, LLC

TSI WEST SPRINGFIELD, LLC
 TSI WESTBOROUGH, LLC

TSI WESTPORT, LLC
 TSI WESTWOOD, LLC

TSI WEYMOUTH, LLC
 TSI WHITE PLAINS, LLC

TSI WHITE PLAINS CITY CENTER, LLC
 TSI WHITESTONE, LLC

TSI WILLIAMSBURG, LLC
 TSI WOBURN, LLC

TSI WOODMERE, LLC,

		 	each as an Assignor
		
	By:	 	 /s/ Daniel Gallagher

		 	 Name: Daniel Gallagher

		 	 Title: Senior Vice President - Chief Financial Officer

  
 Page 38 

					
	Accepted and Agreed to:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Collateral Agent

		
	By:	 	 /s/ Mary Kay Coyle

		 	Name:	 	Mary Kay Coyle
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Kirk L. Tashjian

		 	Name:	 	Kirk L. Tashjian
		 	Title:	 	Vice President

  
 Page 39 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I SECURITY INTERESTS
	  	 	2	  
		
	 1.1 Grant of Security Interests
	  	 	2	  
	 1.2 Power of Attorney
	  	 	4	  
		
	 ARTICLE II GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	5	  
		
	 2.1 Necessary Filings
	  	 	5	  
	 2.2 No Liens
	  	 	5	  
	 2.3 Other Financing Statements
	  	 	5	  
	 2.4 Chief Executive Office
	  	 	5	  
	 2.5 Legal Names; Type of Organization (and Whether a Registered Organization and/or a Transmitting Utility); Jurisdiction of
Organization; Organizational Identification Numbers; Changes Thereto; etc.
	  	 	6	  
	 2.6 Trade Names; Etc.
	  	 	6	  
		
	 ARTICLE III SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL
	  	 	7	  
		
	 3.1 Maintenance of Records
	  	 	7	  
	 3.2 Direction to Account Debtors; Contracting Parties; etc.
	  	 	7	  
	 3.3 Collection
	  	 	7	  
	 3.4 Instruments
	  	 	8	  
	 3.5 Assignors Remain Liable Under Accounts
	  	 	8	  
	 3.6 Assignors Remain Liable Under Contracts
	  	 	8	  
	 3.7 Letter-of-Credit Rights
	  	 	8	  
	 3.8 Commercial Tort Claims
	  	 	9	  
	 3.9 Chattel Paper
	  	 	9	  
		
	 ARTICLE IV SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES
	  	 	9	  
		
	 4.1 Additional Representations and Warranties
	  	 	9	  
	 4.2 Infringements
	  	 	10	  
	 4.3 Preservation of Marks and Domain Names
	  	 	10	  
	 4.4 Maintenance of Registration
	  	 	10	  
	 4.5 Future Registered Marks
	  	 	10	  
		
	 ARTICLE V SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS
	  	 	11	  
		
	 5.1 Additional Representations and Warranties
	  	 	11	  
	 5.2 Infringements
	  	 	11	  

					
	 5.3 Maintenance of Patents or Copyrights
	  	 	11	  
	 5.4 Prosecution of Patent or Copyright Applications
	  	 	11	  
	 5.5 Other Patents and Copyrights
	  	 	12	  
		
	 ARTICLE VI PROVISIONS CONCERNING ALL COLLATERAL
	  	 	12	  
		
	 6.1 Protection of Collateral Agent’s Security
	  	 	12	  
	 6.2 Additional Information
	  	 	12	  
	 6.3 Further Actions
	  	 	12	  
	 6.4 Financing Statements
	  	 	13	  
		
	 ARTICLE VII REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT
	  	 	13	  
		
	 7.1 Remedies; Obtaining the Collateral Upon Default
	  	 	13	  
	 7.2 Remedies; Disposition of the Collateral
	  	 	15	  
	 7.3 Waiver of Claims
	  	 	16	  
	 7.4 Application of Proceeds
	  	 	16	  
	 7.5 Remedies Cumulative
	  	 	18	  
	 7.6 Discontinuance of Proceedings
	  	 	19	  
		
	 ARTICLE VIII INDEMNITY
	  	 	19	  
		
	 8.1 Indemnity
	  	 	19	  
	 8.2 Indemnity Obligations Secured by Collateral; Survival
	  	 	20	  
		
	 ARTICLE IX DEFINITIONS
	  	 	21	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	27	  
		
	 10.1 Notices
	  	 	27	  
	 10.2 Waiver; Amendment
	  	 	28	  
	 10.3 Obligations Absolute
	  	 	28	  
	 10.4 Successors and Assigns
	  	 	29	  
	 10.5 Headings Descriptive
	  	 	29	  
	 10.6 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	  	 	29	  
	 10.7 Assignor’s Duties
	  	 	30	  
	 10.8 Termination; Release
	  	 	30	  
	 10.9 Counterparts
	  	 	31	  
	 10.10 Severability
	  	 	31	  
	 10.11 The Collateral Agent and the other Secured Creditors
	  	 	32	  
	 10.12 Additional Assignors
	  	 	32	  

  

			
	ANNEX A	  	Schedule of Chief Executive Offices Address(es) of Chief Executive Office
	ANNEX B	  	Schedule of Legal Names, Type of Organization (and Whether a Registered Organization and/or a Transmitting Utility), Jurisdiction of Organization and Organizational Identification Numbers
	ANNEX C	  	Schedule of Trade and Fictitious Names

			
	ANNEX D	  	Schedule of Commercial Tort Claims
	ANNEX E	  	Schedule of Marks and Applications; Internet Domain Name Registrations
	ANNEX F	  	Schedule of Patents
	ANNEX G	  	Schedule of Copyrights
	ANNEX H	  	Grant of Security Interest in United States Trademarks
	ANNEX I	  	Grant of Security Interest in United States Patents
	ANNEX J	  	Grant of Security Interest in United States Copyrights

 [Remainder of this page intentionally left blank] 

 ANNEX A 

to 
 SECURITY AGREEMENT 

SCHEDULE OF CHIEF EXECUTIVE OFFICES 
  

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Holdings II, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	Town Sports International, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	BFX West 65th Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	Boutique Fitness, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI 217 Broadway, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Alexandria, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Alexandria West, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Allston, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Andover, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Ardmore, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Arthro-Fitness Services, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Astoria, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Avenue A, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Back Bay, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Battery Park, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Bay Ridge 86th Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Bayonne, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Bayridge, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Beacon Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Bensonhurst, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Bethesda, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Boylston, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Broadway, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Brooklyn Belt, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Brunswick, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Bulfinch, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Butler, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Canton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Carmel, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Cash Management, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Central Square, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Cherry Hill, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Chevy Chase, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Clarendon, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Clarendon Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Clifton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Cobble Hill, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Colonia, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Columbia Heights, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Commack, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Connecticut Avenue, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Court Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Croton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Danbury, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Davis Square, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Deer Park, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Dobbs Ferry, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Dorchester, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Downtown Crossing, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Dupont Circle, Inc.	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Dupont II, Inc.	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI East Brunswick, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East Meadow, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 23, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 31, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 34, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 36, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 41, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 48, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 51, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 59, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 76, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 86, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI East 91, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Englewood, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI F Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Fairfax, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Fenway, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI First Avenue, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Fit Acquisition, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Forest Hills, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Fort Lee, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Framingham, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Franklin (MA), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Franklin Park, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Freehold, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Gallery Place, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Garden City, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Garnerville, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Georgetown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Germantown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Glendale, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Glover, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Grand Central, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Great Neck, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Greenpoint, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Greenwich, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Hartsdale, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Hawthorne, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Herald, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Hicksville, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Highpoint, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Hoboken, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Hoboken North, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (CIP), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (DC), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (IP), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (MA), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (MD), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (NJ), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (PA), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Holdings (VA), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Huntington, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI International, Inc.	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Irving Place, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Jamaica Estates, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Jersey City, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI K Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Larchmont, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Lexington (MA), LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Lincoln, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Livingston, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Long Beach, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Lynnfield, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI M Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Mahwah, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Mamaroneck, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Market Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Marlboro, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Matawan, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Mercer Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Midwood, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Montclair, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Morris Park, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Murray Hill, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Nanuet, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Natick, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI New Rochelle, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Newark, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Newbury Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Newton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI No Sweat, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI North Bethesda, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Norwalk, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Oceanside, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Old Bridge, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Parsippany, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Plainsboro, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Port Jefferson, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Princeton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Princeton North, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Providence Downtown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Providence Eastside, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Radnor, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Ramsey, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Reade Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Rego Park, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Ridgewood, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Rodin Place, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Scarsdale, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Seaport, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Sheridan, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Silver Spring, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Smithtown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Society Hill, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Soho, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Somers, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Somerset, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI South Bethesda, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI South End, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI South Park Slope, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI South Station, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Springfield, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Stamford Downtown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Stamford Post, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Stamford Rinks, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Staten Island, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Sterling, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Summer Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Sunnyside, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Syosset, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI University Management, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Varick Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Wall Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Waltham, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Washington, Inc.	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Water Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Watertown, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Wayland, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Wellesley, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Wellington Circle, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West Caldwell, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West Hartford, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West Newton, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West Nyack, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West Springfield, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 14, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 16, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 23, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 38, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 41, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI West 44, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 48, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 52, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 73, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 76, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 80, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 94, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 115th Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 125, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West 145th Street, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI West End, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Westborough, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Westport, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Westwood, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Weymouth, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI White Plains City Center, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI White Plains, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Whitestone, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX A 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Address(es) of Chief Executive Office

		
	TSI Williamsburg, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Woburn, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

	TSI Woodmere, LLC	  	 5 Penn Plaza, 4th Floor
 New York, NY
10001

 ANNEX B 

to 
 SECURITY AGREEMENT 

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION 

(AND WHETHER A REGISTERED ORGANIZATION AND/OR 

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION, 

LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS 
  

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	BFX West 65th Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	Boutique Fitness, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	Town Sports International, LLC	  	Limited Liability Company	  	Yes	  	New York	  	New York	  		  	No
							
	TSI 217 Broadway, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Alexandria, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Alexandria West, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Allston, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Andover, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Ardmore, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Arthro-Fitness Services, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Astoria, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Avenue A, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Back Bay, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Battery Park, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bay Ridge 86th Street, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bayonne, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bayridge, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Beacon Street, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bensonhurst, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bethesda, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Boylston, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Broadway, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Brooklyn Belt, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Brunswick, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Bulfinch, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Butler, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Canton, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Carmel, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Cash Management, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Central Square, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Cherry Hill, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Chevy Chase, LLC	  	Limited
Liability
Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Clarendon, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Clarendon Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Clifton, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Cobble Hill, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Colonia, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Columbia Heights, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Commack, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Connecticut Avenue, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Court Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Croton, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Danbury, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Davis Square, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Deer Park, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Dobbs Ferry, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Dorchester, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Downtown Crossing, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Dupont Circle, Inc.	  	Corporation	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Dupont II, Inc.	  	Corporation	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 23, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 31, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 34, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 36, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 41, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 48, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 51, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI East 59, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 76, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 86, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East 91, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East Brunswick, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI East Meadow, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Englewood, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI F Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Fairfax, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Fenway, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI First Avenue, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Fit Acquisition, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Forest Hills, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Fort Lee, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Framingham, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Franklin (MA), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Franklin Park, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Freehold, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Gallery Place, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Garden City, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Garnerville, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Georgetown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Germantown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Glendale, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Glover, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Grand Central, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Great Neck, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Greenpoint, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Greenwich, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Hartsdale, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Hawthorne, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Herald, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Hicksville, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Highpoint, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Hoboken, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Hoboken North, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Holdings II, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (CIP), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (DC), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (IP), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (MA), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (MD), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (NJ), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (PA), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Holdings (VA), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Huntington, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI International, Inc.	  	Corporation	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Irving Place, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Jamaica Estates, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Jersey City, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI K Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Larchmont, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Lexington (MA), LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Lincoln, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Livingston, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Long Beach, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Lynnfield, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI M Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Mahwah, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Mamaroneck, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Market Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Marlboro, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Matawan, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Mercer Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Midwood, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Montclair, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Morris Park, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Murray Hill, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Nanuet, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Natick, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI New Rochelle, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Newark, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Newbury Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Newton, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI No Sweat, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI North Bethesda, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Norwalk, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Oceanside, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Old Bridge, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Parsippany, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Plainsboro, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Port Jefferson, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Princeton, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Princeton North, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Providence Downtown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Providence Eastside, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Radnor, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Ramsey, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Reade Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Rego Park, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Ridgewood, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Rodin Place, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Scarsdale, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Seaport, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Sheridan, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Silver Spring, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Smithtown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Society Hill, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Soho, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Somers, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Somerset, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI South Bethesda, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI South End, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI South Park Slope, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI South Station, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Springfield, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Stamford Downtown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Stamford Post, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Stamford Rinks, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Staten Island, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Sterling, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Summer Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Sunnyside, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Syosset, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI University Management, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Varick Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Wall Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Waltham, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Washington, Inc.	  	Corporation	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Water Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI Watertown, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Wayland, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Wellesley, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Wellington Circle, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 14, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 16, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 23, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 38, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 41, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 44, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 48, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 52, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI West 73, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 76, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 80, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 94, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 115th Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 125, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West 145th Street, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West Caldwell, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West End, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West Hartford, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West Newton, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI West Nyack, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX B 

to 
 SECURITY AGREEMENT 

 

													
	 Exact Legal Name of Each Entity
	  	 Type of
Organization
(or, if the

Entity is an
Individual,

so indicate)
	  	 Registered
Organization?
(Yes/No)
	  	 Jurisdiction

of

Organization
	  	 Entity’s Location
(for purposes of
NY UCC
§ 9-307)
	  	 Entity’s
Organization
Identification
Number 
(or, if none,

so indicate)
	  	 Transmitting
Utility?
(Yes/No)

							
	TSI West Springfield, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Westborough, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Westport, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Westwood, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Weymouth, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI White Plains City Center, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI White Plains, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Whitestone, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Williamsburg, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Woburn, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No
							
	TSI Woodmere, LLC	  	Limited Liability Company	  	Yes	  	Delaware	  	Delaware	  		  	No

 ANNEX C 

to 
 SECURITY AGREEMENT 

SCHEDULE OF TRADE AND FICTITIOUS NAMES 

The Company and its Subsidiaries operate fitness clubs under the names “New York Sports Clubs”, “Washington Sports Clubs”, “Boston
Sports Club”, and “Philadelphia Sports Clubs” and use the abbreviations “NYSC”, “WSC”, “BSC” and “PSC”, respectively, generally within an oval logo. Set out below is a list of the Company and
its Subsidiaries and the trade or fictitious name(s) each operates under: 
  

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 Town Sports International, LLC
	  	None
	 BFX West 65th Street, LLC
	  	None
	 Boutique Fitness, LLC
	  	None
	 TSI 217 Broadway, LLC
	  	NYSC
	 TSI Alexandria, LLC
	  	WSC
	 TSI Alexandria West, LLC
	  	None
	 TSI Allston, LLC
	  	BSC
	 TSI Andover, LLC
	  	BSC
	 TSI Ardmore, LLC
	  	PSC
	 TSI Arthro-Fitness Services, LLC
	  	NYSC
	 TSI Astoria, LLC
	  	NYSC
	 TSI Avenue A, LLC
	  	NYSC
	 TSI Back Bay, LLC
	  	BSC
	 TSI Battery Park, LLC
	  	NYSC
	 TSI Bay Ridge 86th Street, LLC
	  	NYSC
	 TSI Bayonne, LLC
	  	NYSC
	 TSI Bayridge, LLC
	  	NYSC
	 TSI Beacon Street, LLC
	  	BSC
	 TSI Bensonhurst, LLC
	  	NYSC
	 TSI Bethesda, LLC
	  	WSC
	 TSI Boylston, LLC
	  	BSC
	 TSI Broadway, LLC
	  	NYSC
	 TSI Brooklyn Belt, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI Brunswick, LLC
	  	NYSC
	 TSI Bulfinch, LLC
	  	BSC
	 TSI Butler, LLC
	  	NYSC
	 TSI Canton, LLC
	  	None
	 TSI Carmel, LLC
	  	NYSC
	 TSI Cash Management, LLC
	  	None
	 TSI Central Square, LLC
	  	BSC
	 TSI Cherry Hill, LLC
	  	PSC
	 TSI Chevy Chase, LLC
	  	WSC
	 TSI Clarendon, LLC
	  	WSC
	 TSI Clarendon Street, LLC
	  	BSC
	 TSI Clifton, LLC
	  	NYSC
	 TSI Cobble Hill, LLC
	  	NYSC
	 TSI Colonia, LLC
	  	NYSC
	 TSI Columbia Heights, LLC
	  	WSC
	 TSI Commack, LLC
	  	NYSC
	 TSI Connecticut Avenue, LLC
	  	WSC
	 TSI Court Street, LLC
	  	NYSC
	 TSI Croton, LLC
	  	NYSC
	 TSI Danbury, LLC
	  	NYSC
	 TSI Davis Square, LLC
	  	BSC
	 TSI Deer Park, LLC
	  	NYSC
	 TSI Dobbs Ferry, LLC
	  	NYSC
	 TSI Dorchester, LLC
	  	BSC
	 TSI Downtown Crossing, LLC
	  	BSC
	 TSI Dupont Circle, Inc.
	  	None
	 TSI Dupont II, Inc.
	  	None
	 TSI East Brunswick, LLC
	  	NYSC
	 TSI East Meadow, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI East 23, LLC
	  	NYSC
	 TSI East 31, LLC
	  	NYSC
	 TSI East 34, LLC
	  	NYSC
	 TSI East 36, LLC
	  	NYSC
	 TSI East 41, LLC
	  	NYSC
	 TSI East 48, LLC
	  	NYSC
	 TSI East 51, LLC
	  	NYSC
	 TSI East 59, LLC
	  	NYSC
	 TSI East 76, LLC
	  	NYSC
	 TSI East 86, LLC
	  	NYSC
	 TSI East 91, LLC
	  	NYSC
	 TSI Englewood, LLC
	  	NYSC
	 TSI F Street, LLC
	  	WSC
	 TSI Fairfax, LLC
	  	WSC
	 TSI Fenway, LLC
	  	BSC
	 TSI First Avenue, LLC
	  	NYSC
	 TSI Fit Acquisition, LLC
	  	None
	 TSI Forest Hills, LLC
	  	NYSC
	 TSI Fort Lee, LLC
	  	NYSC
	 TSI Framingham, LLC
	  	BSC
	 TSI Franklin (MA), LLC
	  	BSC
	 TSI Franklin Park, LLC
	  	NYSC
	 TSI Freehold, LLC
	  	NYSC
	 TSI Gallery Place, LLC
	  	WSC
	 TSI Garden City, LLC
	  	NYSC
	 TSI Garnerville, LLC
	  	NYSC
	 TSI Georgetown, LLC
	  	WSC
	 TSI Germantown, LLC
	  	WSC
	 TSI Glendale, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI Glover, LLC
	  	WSC
	 TSI Grand Central, LLC
	  	NYSC
	 TSI Great Neck, LLC
	  	NYSC
	 TSI Greenpoint, LLC
	  	NYSC
	 TSI Greenwich, LLC
	  	NYSC
	 TSI Hartsdale, LLC
	  	NYSC
	 TSI Hawthorne, LLC
	  	NYSC
	 TSI Herald, LLC
	  	NYSC
	 TSI Hicksville, LLC
	  	NYSC
	 TSI Highpoint, LLC
	  	PSC
	 TSI Hoboken, LLC
	  	NYSC
	 TSI Hoboken North, LLC
	  	NYSC
	 TSI Holdings (CIP), LLC
	  	None
	 TSI Holdings (DC), LLC
	  	None
	 TSI Holdings (IP), LLC
	  	None
	 TSI Holdings (MA), LLC
	  	None
	 TSI Holdings (MD), LLC
	  	None
	 TSI Holdings (NJ), LLC
	  	None
	 TSI Holdings (PA), LLC
	  	None
	 TSI Holdings (VA), LLC
	  	None
	 TSI Huntington, LLC
	  	NYSC
	 TSI International, Inc.
	  	None
	 TSI Irving Place, LLC
	  	NYSC
	 TSI Jamaica Estates, LLC
	  	NYSC
	 TSI Jersey City, LLC
	  	NYSC
	 TSI K Street, LLC
	  	WSC
	 TSI Larchmont, LLC
	  	NYSC
	 TSI Lexington (MA), LLC
	  	BSC
	 TSI Lincoln, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI Livingston, LLC
	  	NYSC
	 TSI Long Beach, LLC
	  	NYSC
	 TSI Lynnfield, LLC
	  	BSC
	 TSI M Street, LLC
	  	WSC
	 TSI Mahwah, LLC
	  	NYSC
	 TSI Mamaroneck, LLC
	  	NYSC
	 TSI Market Street, LLC
	  	PSC
	 TSI Marlboro, LLC
	  	NYSC
	 TSI Matawan, LLC
	  	NYSC
	 TSI Mercer Street, LLC
	  	NYSC
	 TSI Midwood, LLC
	  	NYSC
	 TSI Montclair, LLC
	  	NYSC
	 TSI Morris Park, LLC
	  	NYSC
	 TSI Murray Hill, LLC
	  	NYSC
	 TSI Nanuet, LLC
	  	NYSC
	 TSI Natick, LLC
	  	BSC
	 TSI New Rochelle, LLC
	  	NYSC
	 TSI Newark, LLC
	  	NYSC
	 TSI Newbury Street, LLC
	  	BSC
	 TSI Newton, LLC
	  	BSC
	 TSI No Sweat, LLC
	  	No Sweat
	 TSI North Bethesda, LLC
	  	WSC
	 TSI Norwalk, LLC
	  	NYSC
	 TSI Oceanside, LLC
	  	NYSC
	 TSI Old Bridge, LLC
	  	NYSC
	 TSI Parsippany, LLC
	  	NYSC
	 TSI Plainsboro, LLC
	  	NYSC
	 TSI Port Jefferson, LLC
	  	NYSC
	 TSI Princeton, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI Princeton North, LLC
	  	NYSC
	 TSI Providence Downtown, LLC
	  	BSC I
	 TSI Providence Eastside, LLC
	  	BSC II
	 TSI Radnor, LLC
	  	PSC
	 TSI Ramsey, LLC
	  	NYSC
	 TSI Reade Street, LLC
	  	NYSC
	 TSI Rego Park, LLC
	  	NYSC
	 TSI Ridgewood, LLC
	  	NYSC
	 TSI Rodin Place, LLC
	  	PSC
	 TSI Scarsdale, LLC
	  	NYSC
	 TSI Seaport, LLC
	  	NYSC
	 TSI Sheridan, LLC
	  	NYSC
	 TSI Silver Spring, LLC
	  	WSC
	 TSI Smithtown, LLC
	  	NYSC
	 TSI Society Hill, LLC
	  	PSC
	 TSI Soho, LLC
	  	NYSC
	 TSI Somers, LLC
	  	NYSC
	 TSI Somerset, LLC
	  	NYSC
	 TSI South Bethesda, LLC
	  	WSC
	 TSI South End, LLC
	  	BSC
	 TSI South Park Slope, LLC
	  	NYSC
	 TSI South Station, LLC
	  	BSC
	 TSI Springfield, LLC
	  	NYSC
	 TSI Stamford Downtown, LLC
	  	NYSC
	 TSI Stamford Post, LLC
	  	NYSC
	 TSI Stamford Rinks, LLC
	  	NYSC
	 TSI Staten Island, LLC
	  	NYSC
	 TSI Sterling, LLC
	  	WSC
	 TSI Summer Street, LLC
	  	BSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI Sunnyside, LLC
	  	NYSC
	 TSI Syosset, LLC
	  	NYSC
	 TSI University Management, LLC
	  	None
	 TSI Varick Street, LLC
	  	NYSC
	 TSI Wall Street, LLC
	  	NYSC
	 TSI Waltham, LLC
	  	BSC
	 TSI Washington, Inc.
	  	WSC
	 TSI Water Street, LLC
	  	NYSC
	 TSI Watertown, LLC
	  	BSC
	 TSI Wayland, LLC
	  	None
	 TSI Wellesley, LLC
	  	BSC
	 TSI Wellington Circle, LLC
	  	BSC
	 TSI West Caldwell, LLC
	  	NYSC
	 TSI West Hartford, LLC
	  	NYSC
	 TSI West Newton, LLC
	  	BSC
	 TSI West Nyack, LLC
	  	NYSC
	 TSI West Springfield, LLC
	  	WSC
	 TSI West 14, LLC
	  	NYSC
	 TSI West 16, LLC
	  	NYSC
	 TSI West 23, LLC
	  	NYSC
	 TSI West 38, LLC
	  	NYSC
	 TSI West 41, LLC
	  	NYSC
	 TSI West 44, LLC
	  	NYSC
	 TSI West 48, LLC
	  	NYSC
	 TSI West 52, LLC
	  	NYSC
	 TSI West 73, LLC
	  	NYSC
	 TSI West 76, LLC
	  	NYSC
	 TSI West 80, LLC
	  	NYSC
	 TSI West 94, LLC
	  	NYSC

 ANNEX C 

to 
 SECURITY AGREEMENT 

 

			
	 Name of Assignor
	  	 Trade and/or Fictitious Names

		
	 TSI West 115th Street, LLC
	  	NYSC
	 TSI West 125, LLC
	  	NYSC
	 TSI West 145th Street, LLC
	  	NYSC
	 TSI West End, LLC
	  	NYSC
	 TSI Westport, LLC
	  	NYSC
	 TSI Westborough, LLC
	  	BSC
	 TSI Westwood, LLC
	  	NYSC
	 TSI Weymouth, LLC
	  	BSC
	 TSI White Plains City Center, LLC
	  	NYSC
	 TSI White Plains, LLC
	  	NYSC
	 TSI Whitestone, LLC
	  	NYSC
	 TSI Williamsburg, LLC
	  	NYSC
	 TSI Woburn, LLC
	  	BSC
	 TSI Woodmere, LLC
	  	NYSC

 ANNEX D 

to 
 SECURITY AGREEMENT 

DESCRIPTION OF COMMERCIAL TORT CLAIMS 
  

			
	 Name of Assignor
	  	 Description of Commercial Tort Claims

		
	Town Sports International, LLC	  	On September 22, 2009, in an action styled Town Sports International, LLC v. Ajilon Solutions, a division of Ajilon Professional Staffing LLC (Supreme Court of the State of New York, New York County, 602911-09), TSI, LLC
brought an action in the Supreme Court of the State of New York, New York County, against Ajilon for, among other things, breach of contract seeking, among other things, money damages, in connection with Ajilon’s failure to design and deliver
to TSI, LLC a new sports club enterprise management system known as GIMS. Subsequently, on October 14, 2009, Ajilon brought a counterclaim against TSI, LLC alleging breach of contract, asserting, among other things, failure to pay outstanding
invoices in the aggregate amount of approximately $2.9 million. Following a jury trial, a jury verdict was rendered on January 28, 2013, that awarded TSI, LLC damages against Ajilon in the amount of approximately $3.3 million, plus interest,
and also awarded Ajilon damages against TSI, LLC in the amount of approximately $214,000, plus interest. After the Court granted Ajilon’s motion to set aside the part of the jury verdict that had rejected the bulk of Ajilon’s counterclaim,
the Court increased the award of damages against TSI, LLC from approximately $214,000 to approximately $2.9 million, plus interest. The result is a net amount owed to TSI, LLC in the amount of approximately $400,000, plus interest. On April 8,
2013, TSI, LLC filed a notice of appeal, appealing the Court’s decision to set aside the jury verdict, and on May 6, 2013, Ajilon filed its notice of appeal, appealing the verdict.

 ANNEX E 

to 
 SECURITY AGREEMENT 

SCHEDULE OF MARKS AND APPLICATIONS; 

INTERNET DOMAIN NAME REGISTRATIONS 
  

	1.	Trademarks and Trademark Applications Owned by TSI Holdings (IP), LLC 

 a. Registered
Trademarks 
  

									
	 Title
	  	App. No.	  	 App. Date
	  	Reg. No.	  	 Reg. Date

	 UXF
	  	85/547967	  	February 21, 2012	  	4273390	  	January 8, 2013
	 COMPANIESGETFIT
	  	78/839839	  	March 17, 2006	  	3357678	  	December 18, 2007
	 NO SWEAT FITNESS FOR THE REST OF US & DESIGN
	  	78/718144	  	September 22, 2005	  	3320465	  	October 23, 2007
	 COMPANIESGETFIT.COM
	  	78/581508	  	March 7, 2005	  	3345217	  	November 27, 2007
	 TOWN SPORTS INTERNATIONAL HEALTH DEVELOPMENT & DESIGN
	  	78/507455	  	October 28, 2004	  	3035330	  	December 27, 2005
	 SPORTS CLUB FOR KIDS
	  	78/449898	  	July 13, 2004	  	3053486	  	January 31, 2006
	 SPORTS CLUB FOR KIDS
	  	78/447788	  	July 8, 2004	  	3053462	  	January 31, 2006
	 TRAIN YOUR HEAD
	  	78/382970	  	March 12, 2004	  	3008637	  	October 25, 2005
	 NYSC
	  	76/351348	  	December 19, 2001	  	2690385	  	February 25, 2003
	 WHERE YOU LIVE. WHERE YOU WORK.
	  	75/584488	  	November 6, 1998	  	2396940	  	October 24, 2000
	 THERE’S A MILLION REASONS TO JOIN
	  	75/575862	  	October 23, 1998	  	2370104	  	July 25, 2000
	 NYSC NEW YORK SPORTS CLUBS & DESIGN
	  	75/405153	  	December 15, 1997	  	2224136	  	February 16, 1999
	 NYSC & DESIGN
	  	75/405152	  	December 15, 1997	  	2225662	  	February 23, 1999
	 BSC BOSTON SPORTS CLUB & DESIGN
	  	75/368394	  	October 6, 1997	  	2325163	  	March 7, 2000
	 BOSTON SPORTS CLUB
	  	75/368393	  	October 6, 1997	  	2262192	  	July 20, 1999
	 WSC & DESIGN
	  	75/367069	  	October 2, 1997	  	2548666	  	March 19, 2002
	 WSC WASHINGTON SPORTS CLUBS & DESIGN
	  	75/367068	  	October 2, 1997	  	2606256	  	August 13, 2002
	 WASHINGTON SPORTS CLUBS
	  	75/367067	  	October 2, 1997	  	2260453	  	July 13, 1999
	 PSC & DESIGN
	  	75/353261	  	September 8, 1997	  	2239729	  	April 13, 1999
	 PSC PHILADELPHIA SPORTS CLUB & DESIGN
	  	75/353260	  	September 8, 1997	  	2343957	  	April 18, 2000
	 PHILADELPHIA SPORTS CLUBS
	  	75/353259	  	September 8, 1997	  	2333610	  	March 21, 2000
	 NEW YORK SPORTS CLUBS
	  	75/353258	  	September 8, 1997	  	2227597	  	March 2, 1999
	 NYSC NEW YORK SPORTS CLUBS & DESIGN
	  	75/301426	  	June 2, 1997	  	2227316	  	March 2, 1999
	 NYSC
	  	75/301425	  	June 2, 1997	  	2182153	  	August 18, 1998
	 TOWN SPORTS INTERNATIONAL
	  	74/359262	  	January 27, 1993	  	1806497	  	November 23, 1993

									
	 Title
	  	App. No.	  	 App. Date
	  	Reg. No.	  	 Reg. Date

	 TSI
	  	74/359263	  	January 27, 1993	  	1801172	  	October 26, 1993
	 BSC & DESIGN
	  	75/368395	  	October 6, 1997	  	2212754	  	December 22, 1998
	 FITCORP
	  	78/684421	  	August 3, 2005	  	3120276	  	July 25, 2006

  

	b.	Trademark Applications 

  

					
	 Title
	  	App. No.	  	 App. Date

	 MASTER CLASS & DESIGN
	  	85/950556	  	June 4, 2013
	 MASTER CLASS & DESIGN
	  	85/950541	  	June 4, 2013
	 DESIGN ONLY
	  	85/950561	  	June 4, 2013
	 DESIGN ONLY
	  	85/950511	  	June 4, 2013
	 ULTIMATE FITNESS EXPERIENCE UXF
	  	85/547995	  	February 21, 2012
	 UXF
	  	85/918415	  	April 30, 2013
	 BXF BOUTIQUE FITNESS EXPERIENCE
	  	85/895485	  	April 4, 2013
	 RIDE REPUBLIC
	  	85/519580	  	January 18, 2012
	 RIDE REPUBLIC & DESIGN
	  	85/950433	  	June 4, 2013
	 RIDE REPUBLIC & DESIGN
	  	85/950465	  	June 4, 2013
	 BFX STUDIO
	  	85/950409	  	June 4, 2013
	 RIDE REPUBLIC
	  	85/941064	  	May 23, 2013
	 RIDE REPUBLIC
	  	85/941034	  	May 23, 2013
	 RIDE REPUBLIC
	  	85/941008	  	May 23, 2013
	 RIDE REPUBLIC
	  	85/940985	  	May 23, 2013
	 RIDE REPUBLIC
	  	85/940966	  	May 23, 2013
	 RIDE REPUBLIC
	  	85/940958	  	May 23, 2013
	 BFX STUDIO
	  	85/924938	  	May 7, 2013
	 BFX
	  	85/924931	  	May 7, 2013
	 UXF ULTIMATE FITNESS EXPERIENCE
	  	85/918509	  	April 30, 2013
	 UXF ULTIMATE FITNESS EXPERIENCE
	  	85/918470	  	April 30, 2013
	 UXF ULTIMATE FITNESS EXPERIENCE
	  	85/918450	  	April 30, 2013
	 UXF
	  	85/918424	  	April 30, 2013
	 UXF
	  	85/918421	  	April 30, 2013

  

	2.	Internet Domain Name Registrations: 

  

									
	Domain	  	Date Created	  	Date Expires	  	Registrant	  	Vendor
					
	 ACTIVTRAXPRO.COM
	  	06/20/2007	  	06/202014	  	Doreen Sussman	  	Domain Registry of America
					
	 AMILLIONREASONSTOJOIN.COM
	  	01/3/2001	  	01/3/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 ATLANTASPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America

  
 42 

									
	Domain	  	Date Created	  	Date Expires	  	Registrant	  	Vendor
					
	 BOSTONSPORTSCLUBS.CO
	  	07/29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.
					
	 BOSTONSPORTSCLUB.COM
	  	05/14/1998	  	05/13/2013	  	Doreen Sussman	  	Domain Registry of Americas
					
	 BOSTONSPORTSCLUBS.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 BOSTONSPORTSCLUBS.COM
	  	05/14/1998	  	05/13/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 BOSTONSPORTSCLUBSSUCK.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 BOSTONSPORTSCLUBSSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 BSC.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 BSCSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 CHICAGOSPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 COMPANIESGETFIT.COM
	  	08/23/2004	  	08/23/2011	  	Doreen Sussman	  	Domain Registry of America
					
	 DENVERSPORTSCLUB.COM
	  	12/31/2002	  	12/31/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINBSC.COM
	  	03/24/2008	  	03/24/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINMYSPORTSCLUB.COM
	  	07/24/2008	  	07/24/2017	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINMYSPORTSCLUBS.COM
	  	07/24/2008	  	07/24/2017	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINNYSC.COM
	  	03/24/2008	  	03/24/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINPSC.COM
	  	03/24/2008	  	03/24/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 JOINWSC.COM
	  	03/24/2008	  	03/24/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 KUBYGETSFIT.COM
	  	02/13/2006	  	02/13/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 MIAMISPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 MYREASONTOJOIN.COM
	  	01/3/2001	  	01/3/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 MYSPORTCLUB.CO
	  	07/29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.
					
	 MYSPORTSCLUB.CO
	  	07/29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.

  
 43 

									
	Domain	  	Date Created	  	Date Expires	  	Registrant	  	Vendor
					
	 MYSPORTSCLUBS.COM
	  	06/27/2000	  	06/27/2018	  	Doreen Sussman	  	Domain Registry of America
					
	 MYSPORTSCLUBS.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 MYSPORTSCO.COM
	  	07/17/2001	  	07/17/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 MYSPORTSCOMPANY.COM
	  	07/18/2001	  	07/18/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 MYSPORTSCOMPANY.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 MYTSISUMMIT.COM
	  	02/15/2007	  	02/15/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 MYTSISUMMIT.INFO
	  	02/15/2007	  	02/15/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NEWYORKSPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	 Domain Registry
 Of America

					
	 NEWYORKSPORTSCLUBS.CO
	  	07/29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.
					
	 NEWYORKSPORTSCLUBS.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 NEWYORKSPORTSCLUBSSUCK.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NEWYORKSPORTSCLUBSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NOSWEATFIT.BIZ
	  	04/20/2005	  	04/19/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NOSWEATFIT.COM
	  	04/20/2005	  	04/20/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NOSWEATFIT.NET
	  	04/20/2005	  	04/20/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NOSWEATFITNESS.BIZ
	  	04/20/2005	  	04/19/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NOSWEATFITNESS.NET
	  	04/20/2005	  	04/20/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NYSC.COM
	  	12/02/1995	  	12/01/2014	  	Doreen Sussman	  	Domain Registry of America
					
	 NYSC.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 NYSCSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 NYSPORTCLUB.COM
	  	10/19/2001	  	10/19/2013	  	Francine Hancock	  	Domain Registry of America
					
	 PHILADELPHIASPORTS.COM
	  	05/14/1998	  	05/13/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 PHILADELPHIASPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America

  
 44 

									
	Domain	  	Date Created	  	Date Expires	  	Registrant	  	Vendor
					
	 PHILADELPHIASPORTSCLUBS.CO
	  	07./29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.
					
	 PHILADELPHIASPORTSCLUBS.COM
	  	01/18/2005	  	01/18/2016	  	Doreen Sussman	  	Domain Registry of America
					
	 PHILADELPHIASPORTSCLUBS.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 PORTLANDSPORTSCLUB.COM
	  	12/31/2002	  	12/31/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 POUNDSOFFCLUB.COM
	  	04/26/2006	  	04/26/2015	  	Doreen Sussman	  	Domain Registry of America
					
	 PSC.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 PSCSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 ROCKTHESCALES.COM
	  	11/22/2006	  	11/22/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SANFRANCISCOSPORTSCLUB.COM
	  	12/31/2002	  	12/31/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 SEATTLESPORTSCLUB.COM
	  	12/31/2002	  	12/31/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTCLUBNETWORK.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTSCLUBNETWORK.COM
	  	03/20/2002	  	03/20/2014	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTS-CLUB-NETWORK.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTSCLUBSFORKIDS.COM
	  	10/31/2000	  	10/31/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTSCLUBSNETWORK.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTS-CLUBS-NETWORK.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTSCLUBSNETWORKS.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 SPORTS-CLUBS-NETWORKS.COM
	  	03/20/2002	  	03/20/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 TORONTOSPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 TOWN-SPORTS.COM
	  	05/27/1998	  	05/26/2012	  	Town Sports International	  	Network Solutions, LLC
					
	 TOWNSPORTSINTL.COM
	  	05/27/1998	  	05/26/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 TSAG.COM
	  	02/20/1997	  	02/21/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 WASHINGTONSPORTS.COM
	  	08/3/1996	  	08/2/2013	  	Doreen Sussman	  	Domain Registry of America

  
 45 

									
	Domain	  	Date Created	  	Date Expires	  	Registrant	  	Vendor
					
	 WASHINGTONSPORTSCLUB.COM
	  	03/10/2000	  	03/10/2013	  	Doreen Sussman	  	Domain Registry of America
					
	 WASHINGTONSPORTSCLUBS.CO
	  	07/29/2010	  	07/28/2011	  	Doreen Sussman	  	GoDaddy.com, Inc.
					
	 WASHINGTONSPORTSCLUBS.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 WASHINGTONSPORTSSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 WASHINGTONSPORTSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America
					
	 WSC.MOBI
	  	09/26/2006	  	09/26/2011	  	Doreen Sussman	  	Dotster Inc.
					
	 WSCSUCKS.COM
	  	10/15/1998	  	10/14/2012	  	Doreen Sussman	  	Domain Registry of America

  
 46 

 ANNEX F 

to 
 SECURITY AGREEMENT 

SCHEDULE OF PATENTS 
 None. 

 ANNEX G 

to 
 SECURITY AGREEMENT 

SCHEDULE OF COPYRIGHTS 
 Copyright
Registrations Owned by TSI Holdings (IP), LLC 
  

					
	 Title
	  	Reg. No.	  	Reg. Date
	 Quality management tool how to manual
	  	TXu001345489	  	March 29, 2007
	 Washington Sports Clubs, fitness instructor certification training handbook
	  	TX0004523595	  	April 14, 1997

 ANNEX H 

to 
 SECURITY AGREEMENT 

GRANT OF SECURITY INTEREST 
 IN
UNITED STATES TRADEMARKS 
 FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of which are hereby acknowledged, [Name of
Grantor], a                           (the “Grantor”) with principal offices at
                                        , hereby
grants to Deutsche Bank AG New York Branch, as Collateral Agent, with principal offices at 60 Wall Street, New York, New York 10005 (the “Grantee”), a continuing security interest in (i) all of the Grantor’s right, title
and interest in and to the United States trademarks, trademark registrations and trademark applications (the “Marks”) set forth on Schedule A attached hereto, (ii) all Proceeds (as such term is defined in the Security Agreement
referred to below) and products of the Marks, (iii) the goodwill of the businesses with which the Marks are associated and (iv) all causes of action arising prior to or after the date hereof for infringement of any of the Marks or unfair
competition regarding the same. 
 THIS GRANT, dated this             
    , 20    , is made to secure the satisfactory performance and payment of all the Obligations of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other assignors from
time to time party thereto and the Grantee, dated as of November 15, 2013 (as amended, modified, restated and/or supplemented from time to time, the “Security Agreement”). Upon the occurrence of the Termination Date (as defined
in the Security Agreement), the Grantee shall execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security interest in the Marks acquired under this Grant. 

Notwithstanding anything herein to the contrary, no security interest is granted in “intent-to-use” applications for registration of
a Mark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) 

 Annex H 

Page 2 
  

 
of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, to the extent that, and during the period in which, the grant of
a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law. 

This Grant has been granted in conjunction with the security interest granted to the Grantee under the Security Agreement. The rights and
remedies of the Grantee with respect to the security interest granted herein are as set forth in the Security Agreement, all terms and provisions of which are incorporated herein by reference. In the event that any provisions of this Grant are
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern. 

*        *        * 

 Annex H 

Page 3 
  

 IN WITNESS WHEREOF, the undersigned have executed this Grant as of the first date written
above. 
  

			
	[NAME OF GRANTOR], Grantor
		
	By	 	  

		 	Name:
		 	Title:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH, as Collateral Agent and Grantee

		
	By	 	  

		 	Name:
		 	Title:
		
	By	 	  

		 	Name:
		 	Title:

 SCHEDULE A 
  

					
	 MARK
	  	 REG. NO.
	  	 REG. DATE

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

 ANNEX I 

to 
 SECURITY AGREEMENT 

GRANT OF SECURITY INTEREST 
 IN
UNITED STATES PATENTS 
 FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of which are hereby acknowledged, [Name of
Grantor], a                           (the “Grantor”) with principal offices at
                                        , hereby
grants to Deutsche Bank AG New York Branch, as Collateral Agent, with principal offices at 60 Wall Street, New York, New York 10005 (the “Grantee”), a continuing security interest in (i) all of the Grantor’s rights, title
and interest in and to the United States patents (the “Patents”) set forth on Schedule A attached hereto, in each case together with (ii) all Proceeds (as such term is defined in the Security Agreement referred to below) and
products of the Patents, and (iii) all causes of action arising prior to or after the date hereof for infringement of any of the Patents or unfair competition regarding the same. 

THIS GRANT, dated this                  ,
20    , is made to secure the satisfactory performance and payment of all the Obligations of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other assignors from time to time party thereto
and the Grantee, dated as of November 15, 2013 (as amended, modified, restated and/or supplemented from time to time, the “Security Agreement”). Upon the occurrence of the Termination Date (as defined in the Security
Agreement), the Grantee shall execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security interest in the Patents acquired under this Grant. 

 Annex I 

Page 2 
  

 This Grant has been granted in conjunction with the security interest granted to the Grantee
under the Security Agreement. The rights and remedies of the Grantee with respect to the security interest granted herein are as set forth in the Security Agreement, all terms and provisions of which are incorporated herein by reference. In the
event that any provisions of this Grant are deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern. 

*        *        * 

 Annex I 

Page 3 
  

 IN WITNESS WHEREOF, the undersigned have executed this Grant as of the first date written
above. 
  

			
	[NAME OF GRANTOR], Grantor
		
	By	 	  

		 	Name:
		 	Title:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH, as Collateral Agent and Grantee

		
	By	 	  

		 	Name:
		 	Title:
		
	By	 	  

		 	Name:
		 	Title:

 SCHEDULE A 
  

					
	 PATENT
	  	 PATENT NO.
	  	 ISSUE DATE

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

 ANNEX J 

to 
 SECURITY AGREEMENT 

GRANT OF SECURITY INTEREST 
 IN
UNITED STATES COPYRIGHTS 
 WHEREAS, [Name of Grantor], a             
             (the “Grantor”), having its chief executive office at
                            ,
                    , is the owner of all right, title and interest in and to the United States copyrights and associated United States copyright
registrations and applications for registration set forth in Schedule A attached hereto; 
 WHEREAS, DEUTSCHE BANK AG NEW YORK BRANCH, as
Collateral Agent, having its principal offices at 60 Wall Street, New York, New York 10005 (the “Grantee”), desires to acquire a security interest in said copyrights and copyright registrations and applications therefor; and 

WHEREAS, the Grantor is willing to grant to the Grantee a security interest in and lien upon the copyrights and copyright registrations and
applications therefor described above. 
 NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged,
and subject to the terms and conditions of the Security Agreement, dated as of November 15, 2013, made by the Grantor, the other assignors from time to time party thereto and the Grantee (as amended, modified, restated and/or supplemented from
time to time, the “Security Agreement”), the Grantor hereby assigns to the Grantee as collateral security, and grants to the Grantee a continuing security interest in, the copyrights and copyright registrations and applications
therefor set forth in Schedule A attached hereto. 
 Upon the occurrence of the Termination Date (as defined in the Security Agreement), the
Grantee shall execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security interest in the Copyrights acquired under this Grant. 

This Grant, dated this             , 20    , has been granted
in conjunction with the security interest granted to the Grantee under the Security Agreement. The rights and remedies of the Grantee with respect to the security interest granted herein are as set forth in the Security Agreement, all terms and
provisions of which are incorporated herein by reference. In the event that any provisions of this Grant are deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall govern. 

*        *        * 

 IN WITNESS WHEREOF, the undersigned have executed this Grant as of the second date written above.

  

			
	[NAME OF GRANTOR], Grantor
		
	By	 	  

		 	Name:
		 	Title:
	
	 DEUTSCHE BANK AG NEW YORK BRANCH, as Collateral Agent and Grantee

		
	By	 	  

		 	Name:
		 	Title:
		
	By	 	  

		 	Name:
		 	Title:EX-4.01

 Exhibit 4.01 

This Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depository
named below or a nominee of the Depository. This Note is not exchangeable for Notes registered in the name of a Person other than the Depository or its nominee except in the limited circumstances described herein and in the Indenture, and no
transfer of this Note (other than a transfer of this Note as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository) may be registered except in the limited
circumstances described herein. 
 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a
New York corporation (the “Depository”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by
an authorized representative of the Depository (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

CITIGROUP INC. 
 Floating
Rate Notes due November 15, 2016 
  

					
	REGISTERED	  	REGISTERED	 	
			
		  	 CUSIP: 172967 HH 7  

ISIN: US172967HH77  
 Common
Code: 099433060  
	 	
			
	No. R-0001	  	$500,000,000  	 	

 CITIGROUP INC., a Delaware corporation (the “Company”, which term includes any successor Person
under the Indenture), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $500,000,000 on November 15, 2016 and to pay interest thereon from and including November 15, 2013 or from
the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly, on the fifteenth day of each February, May, August and November, commencing February 15, 2014, at the rate per annum for each Interest Period
of three-month LIBOR, determined as provided herein, plus 0.680% until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
the Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Record Date for such interest, which shall be the Business Day immediately preceding such Interest Payment Date. 

Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the holder on such Record Date and may
either be paid to the Person in whose name this Note is registered at the close of business on a subsequent Record Date, such subsequent Record Date to be not less than five days prior to the date of payment of such defaulted interest, notice
whereof shall be given to holders of Notes of this series not less than 15 days prior to such subsequent Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

 Interest hereon will be calculated on the basis of the actual number of days elapsed in an
Interest Period and a 360-day year. Dollar amounts resulting from such calculation will be rounded to the nearest cent, with one-half cent being rounded upward. An “Interest Period” shall be the period from and including an Interest
Payment Date (or from November 15, 2013 in the case of the first Interest Payment Date) to and including the day immediately preceding the next Interest Payment Date. 

If an Interest Payment Date falls on a day that is not a Business Day, such Interest Payment Date will be the next succeeding Business Day. If
the Maturity of the Notes falls on a day that is not a Business Day, the payment due on Maturity will be postponed to the next succeeding Business Day, and no further interest will accrue in respect of such postponement. If a date for payment of
interest or principal on the Notes falls on a day that is not a business day in the place of payment, such payment will be made on the next succeeding business day in such place of payment as if made on the date the payment was due. No interest will
accrue on any amounts payable for the period from and after the due date for payment of such principal or interest. 
 For these purposes,
“Business Day” means any day which is a day on which commercial banks settle payments and are open for general business in The City of New York. 

Payment of the principal of and interest on this Note will be made at the office or agency of the Trustee maintained for that purpose in The
City of New York. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has
been executed by the Trustee or by an authenticating agent on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: November 15, 2013 
  

			
	CITIGROUP INC.
		
	By:	 	  

	Title:	 	Deputy Treasurer

  

			
	ATTEST:
		
	By:	 	  

	Title:	 	Assistant Secretary

  
 3 

 This is one of the Notes of the series issued under the within-mentioned Indenture. 

Dated: November 15, 2013 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:
	
	-or-
	
	 CITIBANK, N.A.,
 as Authenticating
Agent

		
	By:	 	  

		 	Name:
		 	Title:

  
 4 

 This Note is one of a duly authorized issue of Securities of the Company (the “Notes”),
issued and to be issued in one or more series under the Indenture, dated as of March 15, 1987 (as amended and supplemented to date, the “Indenture”), between the Company and The Bank of New York Mellon, formerly known as The Bank of
New York, as Trustee (the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof,
limited in aggregate principal to $500,000,000. 
 This Note will bear interest for each Interest Period at a rate determined by Citibank,
N.A., acting as Calculation Agent. The interest rate on this Note for a particular Interest Period will be a per annum rate equal to three-month LIBOR as determined on the related Interest Determination Date, plus 0.680%. The Interest Determination
Date for an Interest Period will be the second London business day preceding such Interest Period. The Interest Determination Date for the first Interest Period was November 13, 2013. Promptly upon determination, the Calculation Agent will
inform the Trustee and the Company of the interest rate for the next Interest Period. Absent manifest error, the determination of the interest rate by the Calculation Agent shall be binding and conclusive on the holders of Notes, the Trustee and the
Company. 
 A London business day is a day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

On any Interest Determination Date, LIBOR will be equal to the offered rate for deposits in U.S. dollars having an index maturity of three
months for the next Interest Period, in amounts of at least $1,000,000, as such rate appears on Reuters Screen LIBOR01 at approximately 11:00 a.m., London time, on such Interest Determination Date. If the Reuters Screen LIBOR01 is replaced by
another service or ceases to exist, the Calculation Agent will use the replacing service or such other service that may be nominated by the British Bankers’ Association for the purpose of displaying London interbank offered rates for U.S.
dollar deposits. 
 If no offered rate appears on Reuters Screen LIBOR01 on an Interest Determination Date at approximately 11:00 a.m.,
London time, then the Calculation Agent (after consultation with the Company) will select four major banks in the London interbank market and shall request each of their principal London offices to provide a quotation of the rate at which
three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London interbank market, on that date and at that time, that is representative of single transactions at that time. If at least two
quotations are provided, LIBOR will be the arithmetic average of the quotations provided. Otherwise, the Calculation Agent will select three major banks in New York City and shall request each of them to provide a quotation of the rate offered by
them at approximately 11:00 a.m., New York City time, on the Interest Determination Date for loans in U.S. dollars to leading European banks having an index maturity of three months for the applicable Interest Period in an amount of at least
$1,000,000 that is representative of single 

  
 5 

 
transactions at that time. If three quotations are provided, LIBOR will be the arithmetic average of the quotations provided. Otherwise, the rate of LIBOR for the next Interest Period will be set
equal to the rate of LIBOR for the current Interest Period. 
 The Luxembourg Stock Exchange shall be notified of the interest rate, the
amount of the interest payment and the Interest Payment Date for a particular Interest Period not later than the first day of such Interest Period. Upon request from any Noteholder, the Calculation Agent will provide the interest rate in effect on
this Note for the current Interest Period and, if it has been determined, the interest rate to be in effect for the next Interest Period. 

If an event of default (as defined in the Indenture) with respect to Notes of this series shall occur and be continuing, the principal of the
Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture contains
provisions for defeasance at any time of the entire indebtedness of this Note upon compliance by the Company with certain conditions set forth in Sections 11.03 and 11.04 thereof, which provisions apply to this Note. 

The Indenture contains provisions permitting the Company and the Trustee, without the consent of the holders of the Securities, to establish,
among other things, the form and terms of any series of Securities issuable thereunder by one or more supplemental indentures, and, with the consent of the holders of not less than 66 2/3% in aggregate principal amount of Securities at the time
outstanding which are affected thereby, to modify the Indenture or any supplemental indenture or the rights of the holders of Securities of such series to be affected, provided that no such modification will (i) extend the fixed maturity of any
Securities, reduce the rate or extend the time of payment of interest thereon, reduce the principal amount thereof or the premium, if any, thereon, reduce the amount of the principal of Original Issue Discount Securities payable on any date, change
the currency in which Securities are payable, or impair the right to institute suit for the enforcement of any such payment on or after the maturity thereof, without the consent of the holder of each Security so affected, or (ii) reduce the
aforesaid percentage of Securities of any series the consent of the holders of which is required for any such modification without the consent of the holders of all Securities of such series then outstanding, or (iii) modify, without the
written consent of the Trustee, the rights, duties or immunities of the Trustee. 
 No reference herein to the Indenture and no provision of
this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

 This Note is a Global Security registered in the name of a nominee of the Depository. This Note is exchangeable for Notes registered in
the name of a person other than the Depository or its nominee only in the limited circumstances hereinafter described. Unless and until it is exchanged in whole or in part for definitive Notes in certificated form, this Note may not be transferred
except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository. 

  
 6 

 The Notes represented by this Global Security are exchangeable for definitive Notes in
certificated form of like tenor as such Notes in denominations of $1,000 and whole multiples of $1,000 in excess thereof only if (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for the Notes or
(ii) the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, or (iii) the Company in its sole discretion decides to allow the Notes to be exchanged for definitive Notes in registered
form. Any Notes that are exchangeable pursuant to the preceding sentence are exchangeable for certificated Notes issuable in authorized denominations and registered in such names as the Depository shall direct. As provided in the Indenture and
subject to certain limitations therein set forth, the transfer of definitive Notes in certificated form is registrable in the register maintained by the Company in The City of New York for such purpose, upon surrender of the definitive Note for
registration of transfer at the office or agency of the registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the registrar duly executed by, the holder thereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. Subject to the
foregoing, this Note is not exchangeable, except for a Global Security or Global Securities of this issue of the same principal amount to be registered in the name of the Depository or its nominee. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary. 
 The Company will pay additional amounts (“Additional Amounts”)
to the beneficial owner of any Note that is a non-United States person in order to ensure that every net payment on such Note will not be less, due to payment of U.S. withholding tax, than the amount then due
and payable. For this purpose, a “net payment” on a Note means a payment by the Company or a paying agent, including payment of principal and interest, after deduction for any present or future tax, assessment or other governmental charge
of the United States. These Additional Amounts will constitute additional interest on the Note. 

  
 7 

 The Company will not be required to pay Additional Amounts, however, in any of the circumstances
described in items (1) through (14) below. 
  

	 	(1)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	having a relationship with the United States as a citizen, resident or otherwise; 

  

	 	(b)	having had such a relationship in the past or 

  

	 	(c)	being considered as having had such a relationship. 

  

	 	(2)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	being treated as present in or engaged in a trade or business in the United States; 

  

	 	(b)	being treated as having been present in or engaged in a trade or business in the United States in the past or 

  

	 	(c)	having or having had a permanent establishment in the United States. 

  

	 	(3)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld in whole or in part by reason of the beneficial owner
being or having been any of the following (as such terms are defined in the Internal Revenue Code of 1986, as amended): 

  

	 	(a)	personal holding company; 

  

	 	(b)	foreign personal holding company; 

  

	 	(c)	foreign private foundation or other foreign tax-exempt organization; 

  

	 	(d)	passive foreign investment company; 

  

	 	(e)	controlled foreign corporation or 

  

	 	(f)	corporation which has accumulated earnings to avoid United States federal income tax. 

  

	 	(4)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner owning or
having owned, actually or constructively, 10 percent or more of the total combined voting power of all classes of stock of the Company entitled to vote or by reason of the beneficial owner being a bank that has invested in a Note as an extension of
credit in the ordinary course of its trade or business. 

 For purposes of items (1) through (4) above, “beneficial owner”
means a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership, limited liability company, corporation or other entity, or a person holding a power over an estate or trust administered by
a fiduciary holder. 
  

	 	(5)	Additional Amounts will not be payable to any beneficial owner of a Note that is a: 

  

	 	(a)	fiduciary; 

  
 8 

	 	(b)	partnership; 

  

	 	(c)	limited liability company or 

  

	 	(d)	other fiscally transparent entity 

 or that is not the sole beneficial owner of the Note, or any
portion of the Note. However, this exception to the obligation to pay Additional Amounts will only apply to the extent that a beneficiary or settlor in relation to the fiduciary, or a beneficial owner or member of the partnership, limited liability
company or other fiscally transparent entity, would not have been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment. 

 

	 	(6)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the failure of the beneficial
owner or any other person to comply with applicable certification, identification, documentation or other information reporting requirements. This exception to the obligation to pay Additional Amounts will only apply if compliance with such
reporting requirements is required by statute or regulation of the United States or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge.

  

	 	(7)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is collected or imposed by any method other than by withholding from a
payment on a Note by the Company or a paying agent. 

  

	 	(8)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of a change in law, regulation, or
administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later. 

  

	 	(9)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of the presentation by the beneficial owner
of a Note for payment more than 30 days after the date on which such payment becomes due or is duly provided for, whichever occurs later. 

  

	 	(10)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any: 

  

	 	(a)	estate tax; 

  

	 	(b)	inheritance tax; 

  

	 	(c)	gift tax; 

  
 9 

	 	(d)	sales tax; 

  

	 	(e)	excise tax; 

  

	 	(f)	transfer tax; 

  

	 	(g)	wealth tax; 

  

	 	(h)	personal property tax or 

  

	 	(i)	any similar tax, assessment, withholding, deduction or other governmental charge. 

  

	 	(11)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment, or other governmental charge required to be withheld by any paying agent from a payment of principal or
interest on a Note if such payment can be made without such withholding by any other paying agent. 

  

	 	(12)	Additional amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is required to be made pursuant to any European Union directive on the
taxation of savings income or any law implementing or complying with, or introduced to conform to, any such directive. 

  

	 	(13)	Additional amounts will not be payable if a payment on a Note is reduced as a result of any withholding, deduction, tax, duty assessment or other governmental charge that would not have been imposed but for a failure by
the holder or beneficial owner of a Note (or any financial institution through which the holder or beneficial owner holds the Note or through which payment on the Note is made) to take any action (including entering into an agreement with the
Internal Revenue Service, or a governmental authority of another jurisdiction if the holder is entitled to the benefits of an intergovernmental agreement between that jurisdiction and the United States) or to comply with any applicable
certification, documentation, information or other reporting requirement or agreement concerning accounts maintained by the holder or beneficial owner (or any such financial institution), or concerning ownership of the holder or beneficial owner, or
any substantially similar requirement or agreement. 

  

	 	(14)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any combination of items (1) through (13) above. 

Except as specifically provided herein, the Company will not be required to make any payment of any tax, assessment or other governmental
charge imposed by any government or a political subdivision or taxing authority of such government. 
 As used in this Note, “United
States person” means: 
  

	 	(a)	any individual who is a citizen or resident of the United States; 

  

	 	(b)	any corporation, partnership or other entity created or organized in or under the laws of the United States; 

  
 10 

	 	(c)	any estate if the income of such estate falls within the federal income tax jurisdiction of the United States regardless of the source of such income and 

 

	 	(d)	any trust if a United States court is able to exercise primary supervision over its administration and one or more United States persons have the authority to control all of the substantial decisions of the trust.

 Additionally, “non-United States person” means a person who is not a
United States person, and “United States” means the states of the United States of America and the District of Columbia, but excluding its territories and its possessions. 

Except as provided below, the Notes may not be redeemed prior to maturity. 

 

	 	(1)	The Company may, at its option, redeem the Notes if: 

  

	 	(a)	the Company becomes or will become obligated to pay Additional Amounts as described above; 

  

	 	(b)	the obligation to pay Additional Amounts arises as a result of any change in the laws, regulations or rulings of the United States, or an official position regarding the application or interpretation of such laws,
regulations or rulings, which change is announced or becomes effective on or after November 7, 2013 and 

  

	 	(c)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Notes or taking any action that would entail a material cost to the Company. 

  

	 	(2)	The Company may also redeem the Notes, at its option, if: 

  

	 	(a)	any act is taken by a taxing authority of the United States on or after November 7, 2013, whether or not such act is taken in relation to the Company or any affiliate, that results in a substantial probability that
the Company will or may be required to pay Additional Amounts as described above; 

  

	 	(b)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Notes or taking any action that would entail a material cost to the Company and 

  

	 	(c)	the Company receives an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability that the Company will or may be required to pay the
Additional Amounts described above, and delivers to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion the Company is entitled to redeem the Notes pursuant to their terms. 

  
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 Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in whole, and not in
part, and will be made at a redemption price equal to 100% of the principal amount of the Notes Outstanding plus accrued interest thereon to the date of redemption. Holders shall be given not less than 30 days’ nor more than 60 days’ prior
notice by the Trustee of the date fixed for such redemption. 
 All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture. The Notes are governed by the laws of the State of New York. 

  
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