Document:

EX-10.5

 Exhibit 10.5 
 STOCKHOLDERS AGREEMENT 
 DATED AS OF
[                    ], 2013 
 AMONG 
 BRIXMOR PROPERTY GROUP INC. 

AND 

THE OTHER PARTIES HERETO 

 Table of Contents 

 

							
	 	  	 	  	Page	 
	ARTICLE I. INTRODUCTORY MATTERS	  	 	1	  
	1.1  	  	Defined Terms	  	 	1	  
	1.2  	  	Construction	  	 	4	  
	ARTICLE II. CORPORATE GOVERNANCE MATTERS	  	 	4	  
	2.1  	  	Election of Directors	  	 	4	  
	ARTICLE III. INFORMATION; VCOC	  	 	5	  
	3.1  	  	Books and Records; Access	  	 	5	  
	3.2  	  	Certain Reports	  	 	6	  
	3.3  	  	VCOC	  	 	6	  
	ARTICLE IV. ADDITIONAL COVENANTS	  	 	8	  
	4.1  	  	Ownership Limits	  	 	8	  
	ARTICLE V. GENERAL PROVISIONS	  	 	8	  
	5.1  	  	Termination	  	 	8	  
	5.2  	  	Notices	  	 	8	  
	5.3  	  	Amendment; Waiver	  	 	9	  
	5.4  	  	Further Assurances	  	 	9	  
	5.5  	  	Assignment	  	 	9	  
	5.6  	  	Third Parties	  	 	10	  
	5.7  	  	Governing Law	  	 	10	  
	5.8  	  	Jurisdiction; Waiver of Jury Trial	  	 	10	  
	5.9  	  	Specific Performance	  	 	10	  
	5.10	  	Entire Agreement	  	 	10	  
	5.11	  	Severability	  	 	10	  
	5.12	  	Table of Contents, Headings and Captions	  	 	11	  
	5.13	  	Grant of Consent	  	 	11	  
	5.14	  	Counterparts	  	 	11	  
	5.15	  	Effectiveness	  	 	11	  
	5.16	  	No Recourse	  	 	11	  

  

  
 i 

 STOCKHOLDERS AGREEMENT 

This Stockholders Agreement is entered into as of
[                    ], 2013 by and among Brixmor Property Group Inc. (the “Company”), and each of the other parties
identified on the signature pages hereto (the “Investor Parties”). 
 BACKGROUND: 

WHEREAS, the Company is currently contemplating an underwritten initial public offering (“IPO”) of shares of its Common
Stock (as defined below); and 
 WHEREAS, in connection with the IPO, the Company and the Investor Parties wish to set forth
certain understandings between such parties, including with respect to certain governance matters. 
 NOW, THEREFORE, the
parties agree as follows: 
 ARTICLE I. 
 INTRODUCTORY MATTERS 
 1.1 Defined Terms. In addition to the terms defined
elsewhere herein, the following terms have the following meanings when used herein with initial capital letters: 

“Affiliate” has the meaning set forth in Rule 12b-2 promulgated under the Exchange Act, as in effect on the date hereof.

 “Agreement” means this Stockholders Agreement, as the same may be amended, supplemented, restated or
otherwise modified from time to time in accordance with the terms hereof. 
 “Beneficially Own” has the meaning
set forth in Rule 13d-3 promulgated under the Exchange Act. 
 “Blackstone Designee” has the meaning set forth
in Section 2.1(b). 
 “Blackstone Designator” means the Blackstone Party, or any group of Blackstone
Parties collectively, then holding of record a majority of Outstanding Brixmor Interests held of record by all Blackstone Parties. 
 “Blackstone Entities” means the entities comprising the Blackstone Parties and their Affiliates. 
 “Blackstone Parties” means the entities listed on the signature pages hereto under the heading “Blackstone Parties” and any other Blackstone Entities that may from time to time
become parties hereto. 
 “Board” means the board of directors of the Company. 

“BPG Subsidiary” means BPG Subsidiary Inc., a Delaware corporation. 

  

 “BPG Subsidiary Exchange Agreement” means the exchange agreement, dated on
or about the date hereof, among the Company, BPG Subsidiary and the holders of BPG Subsidiary shares party thereto, as amended and in effect from time to time. 
 “BPG Subsidiary Shares” means the shares of common stock, par value $0.01 per share, of BPG Subsidiary. 
 “Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial banks in New York City are authorized or required by law to
close. 
 “Closing Date” means the date of the closing of the IPO. 

“Company” has the meaning set forth in the Preamble. 

“Common Stock” means the shares of common stock, par value $0.01 per share, of the Company, and any other stock of the
Company into which outstanding shares of such stock is reclassified or reconstituted and any other common stock of the Company. 

“Control” (including its correlative meanings, “Controlled by” and “under common Control
with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise) of a
Person. 
 “Director” means any director of the Company. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as the same may be amended from time to time. 
 “Governmental Authority” means any nation or
government, any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Investor Parties” has the meaning set forth in the Preamble. 

“IPO” has the meaning set forth in the Background. 

“Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive,
requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

“OP” means Brixmor Operating Partnership LP, a Delaware limited partnership. 

“OP Units” means the common units of partnership interest in the OP. 

“Outstanding Brixmor Interests” means, collectively, (i) the outstanding shares of Common Stock, (ii) the BPG
Subsidiary Shares held by persons other than the Company and (iii)

  
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the OP Units held by persons other than the Company, BPG Subsidiary Inc. and its wholly owned subsidiary. For purposes of calculating any proportion of Outstanding Brixmor Interests, the number
of Outstanding Brixmor Interests held by any Person shall consist of the sum of (a) the number of shares of Common Stock held by such Person, (b) the number of shares of Common Stock such Person would receive upon the exchange of all BPG
Subsidiary Shares held by such Person in accordance with the BPG Subsidiary Exchange Agreement and (c) the number of shares of Common Stock such Person would receive upon the acquisition by the Company or BPG Subsidiary of all of the OP Units
held by such Person upon the tender of such OP Units for redemption in accordance with the Amended and Restated Agreement of Limited Partnership of the OP dated on or about the date hereof. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department, agency or political
subdivision thereof. 
 “Plan Asset Regulation” has the meaning set forth in Section 3.3. 

“Pre-IPO Owners” means the Blackstone Entities and the other Persons who held Outstanding Brixmor Interests at the time
of the IPO and any Affiliate thereof that shall become a holder of any Outstanding Brixmor Interests. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or
other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, representatives or trustees
thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other
business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly, by that
Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business
entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing member, managing director or other governing body or
general partner of such limited liability company, partnership, association or other business entity. 
 “Total Number
of Directors” means the total number of directors comprising the Board. 
 “Transfer” (including its
correlative meanings, “Transferor”, “Transferee” and “Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge,
encumber, grant a security interest in, offer, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or 

  
 3 

 
warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When used as a noun, “Transfer” shall have such
correlative meaning as the context may require. 
 “VCOC Investor” has the meaning set forth in
Section 3.3. 
 1.2 Construction. The language used in this Agreement will be deemed to be the language chosen by
the parties to express their mutual intent, and no rule of strict construction will be applied against any party. Unless the context otherwise requires: (a) “or” is disjunctive but not exclusive, (b) words in the singular
include the plural, and in the plural include the singular, and (c) the words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement refer to this Agreement
as a whole and not to any particular provision of this Agreement, and Section references are to this Agreement unless otherwise specified. 
 ARTICLE II. 
 CORPORATE GOVERNANCE MATTERS 

2.1 Election of Directors. 
 (a) Following the Closing Date, the Blackstone Designator shall have the right, but not the obligation, to designate, and the individuals nominated for election as Directors by or at the direction of the
Board or a duly-authorized committee thereof shall include, a number of individuals such that, upon the election of each such individual, and each other individual nominated by or at the direction of the Board or a duly-authorized committee of the
Board, as a Director and taking into account any Director continuing to serve as such without the need for re-election, the number of Blackstone Designees (as defined below) serving as Directors of the Company will be equal to: (i) if the
Pre-IPO Owners collectively Beneficially Own 50% or more of the total Outstanding Brixmor Interests as of the record date for such meeting, the lowest whole number that is greater than 50% of the Total Number of Directors; (ii) if the Pre-IPO
Owners collectively Beneficially Own at least 40% (but less than 50%) of the total Outstanding Brixmor Interests as of the record date for such meeting, the lowest whole number that is greater than 40% of the Total Number of Directors; (iii) if
the Pre-IPO Owners collectively Beneficially Own at least 30% (but less than 40%) of the total Outstanding Brixmor Interests as of the record date for such meeting, the lowest whole number that is greater than 30% of the Total Number of Directors;
(iv) if the Pre-IPO Owners collectively Beneficially Own at least 20% (but less than 30%) of the total Outstanding Brixmor Interests as of the record date for such meeting, the lowest whole number that is greater than 20% of the Total Number of
Directors; and (v) if the Pre-IPO Owners collectively Beneficially Own at least 5% (but less than 20%) of the total Outstanding Brixmor Interests as of the record date for such meeting, the lowest whole number that is greater than 10% of the
Total Number of Directors. 
 (b) If at any time the Blackstone Designator has designated fewer than the total number of
individuals that the Blackstone Designator is then entitled to designate pursuant to Section 2.1(a), the Blackstone Designator shall have the right to designate such additional individuals which it is entitled to so designate, in which case,
any individuals nominated by or at the direction of the Board or any duly-authorized committee thereof for election as Directors to 

  
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fill any vacancy on the Board shall include such designees, and the Company shall use its best efforts to (x) effect the election of such additional designees, whether by increasing the size
of the Board or otherwise, and (y) cause the election of such additional designees to fill any such newly-created vacancies or to fill any other existing vacancies. Each such individual whom the Blackstone Designator shall actually designate
pursuant to this Section 2.1 and who is thereafter elected and qualifies to serve as a Director shall be referred to herein as a “Blackstone Designee”. 
 (c) In the event that a vacancy is created at any time by the death, disability, retirement or resignation of any Blackstone Designee, any individual nominated by or at the direction of the Board or any
duly-authorized committee thereof to fill such vacancy shall be, and the Company shall use its best efforts to cause such vacancy to be filled, as soon as possible, by a new designee of the Blackstone Designator, and the Company shall take, to the
fullest extent permitted by law, at any time and from time to time, all actions necessary to accomplish the same. 
 (d) The
Company shall, to the fullest extent permitted by law, include in the slate of nominees recommended by the Board at any meeting of stockholders called for the purpose of electing directors, the persons designated pursuant to this Section 2.1
and use its best efforts to cause the election of each such designee to the Board, including nominating each such individual to be elected as a Director as provided herein, recommending such individual’s election and soliciting proxies or
consents in favor thereof. 
 (e) In addition to any vote or consent of the Board or the stockholders of the Company required by
applicable Law or the charter or bylaws of the Company, and notwithstanding anything to the contrary in this Agreement, for so long as this Agreement is in effect, any action by the Board to increase or decrease the Total Number of Directors (other
than any increase in the Total Number of Directors in connection with the election of one or more directors elected exclusively by the holders of one or more classes or series of the Company’s stock other than Common Stock) shall require the
prior written consent of the Blackstone Designator, delivered in accordance with Section 5.13 of this Agreement. 
 ARTICLE
III. 
 INFORMATION; VCOC 
 3.1 Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, permit the Blackstone Entities and their respective designated representatives, at reasonable times and upon
reasonable prior notice to the Company, to review the books and records of the Company or any of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any
such Subsidiary; provided, however, that the Company shall not be required to disclose any privileged information of the Company so long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to
which it may provide such information to the Blackstone Entities without the loss of any such privilege. 

  
 5 

 3.2 Certain Reports. The Company shall deliver or cause to be delivered to the
Blackstone Entities, at their request: 
 (a) to the extent otherwise prepared by the Company, operating and capital expenditure
budgets and periodic information packages relating to the operations and cash flows of the Company and its Subsidiaries; and 

(b) to the extent otherwise prepared by the Company, such other reports and information as may be reasonably requested by the Blackstone
Entities; provided, however, that the Company shall not be required to disclose any privileged information of the Company so long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it
may provide such information to the Blackstone Entities without the loss of any such privilege. 
 3.3 VCOC. With respect
to each Blackstone Entity that is intended to qualify its direct or indirect investment in the Company as a “venture capital investment” as defined in the Department of Labor regulations codified at 29 CFR Section 2510.3-101 (the
“Plan Asset Regulation”) (each, a “VCOC Investor”), for so long as the VCOC Investor, directly or through one or more subsidiaries, continues to hold any shares of Common Stock (or other securities of the company
into which such shares of Common Stock may be converted or for which such shares of Common Stock may be exchanged), without limitation or prejudice of any the rights provided to the Blackstone Entities hereunder, the Company shall, with respect to
each such VCOC Investor: 
 (a) provide each VCOC Investor or its designated representative with: 

(i) the right to visit and inspect any of the offices and properties of the Company and its Subsidiaries and inspect and
copy the books and records of the Company and its Subsidiaries, at such times as the VCOC Investor shall reasonably request; 
 (ii) as soon as available and in any event within 45 days after the end of each of the first three quarters of each fiscal year of the Company, consolidated balance sheets of the Company and its
Subsidiaries as of the end of such period, and consolidated statements of income and cash flows of the Company and its Subsidiaries for the period then ended prepared in conformity with generally accepted accounting principles in the United States
applied on a consistent basis, except as otherwise noted therein, and subject to the absence of footnotes and to year-end adjustments; 
 (iii) as soon as available and in any event within 120 days after the end of each fiscal year of the Company, a consolidated balance sheet of the Company and its Subsidiaries as of the end of such year,
and consolidated statements of income and cash flows of the Company and its Subsidiaries for the year then ended prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis, except as
otherwise noted therein, together with an auditor’s report thereon of a firm of established national reputation; 

  
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 (iv) to the extent the Company is required by law or pursuant to the terms
of any outstanding indebtedness of the Company to prepare such reports, any annual reports, quarterly reports and other periodic reports pursuant to Section 13 or 15(d) of the Exchange Act, actually prepared by the Company as soon as
available; and 
 (v) copies of all materials provided to the Board, subject to appropriate protections with
respect to confidentiality and preservation of attorney-client privilege; 
 provided, that, in each case, if the Company makes
the information described in clauses (ii), (iii) and (iv) of this clause (a) available through public filings on the EDGAR System or any successor or replacement system of the U.S. Securities and Exchange Commission, the delivery of
such information shall be deemed satisfied; 
 (b) make appropriate officers and/or Directors of the Company available,
and cause the officers and directors of its Subsidiaries to be made available, periodically and at such times as reasonably requested by each VCOC Investor for consultation with such VCOC Investor or its designated representative with respect to
matters relating to the business and affairs of the Company and its Subsidiaries; 
 (c) to the extent consistent with
applicable law, rule, regulation or listing standards (and with respect to events which require public disclosure, only following the Company’s public disclosure thereof through applicable securities law filings or otherwise), inform each VCOC
Investor or its designated representative in advance with respect to any significant corporate actions, and to provide (or cause to be provided) each VCOC Investor or its designated representative with the right to consult with the Company and its
Subsidiaries with respect to such actions should the VCOC Investor elect to do so and provided that the Company shall be under no obligation to provide the VCOC Investor with any material non-public information with respect to such corporate action;
and 
 (d) provide each VCOC Investor or its designated representative with such other rights of consultation which the VCOC
Investor’s counsel may determine to be reasonably necessary under applicable legal authorities promulgated after the date hereof to qualify its investment in the Company as a “venture capital investment” for purposes of the United
States Department of Labor Regulation published the Plan Asset Regulation. 
 The Company agrees to consider, in good faith, the recommendations
of each VCOC Investor or its designated representative in connection with the matters on which it is consulted as described above in this Section 3.3, recognizing that the ultimate discretion with respect to all such matters shall be retained
by the Company. 
 In the event the VCOC Investor or any of its Affiliates transfers all or any portion of their investment in the Company to an
Affiliated entity that is intended to qualify as a “venture capital operating company” (as defined in the Plan Asset Regulation), such Transferee shall be afforded the same rights with respect to the Company afforded to the VCOC Investor
hereunder and shall be treated, for such purposes, as a third party beneficiary hereunder. 

  
 7 

 In the event that the Company ceases to qualify as an “operating company” (as defined in the first
sentence of 2510.3-101(c)(1) of the Plan Asset Regulation), or the investment in the Company by a VCOC Investor does not qualify as a “venture capital investment” as defined in the Plan Asset Regulation, then the Company and each
Blackstone Entity will cooperate in good faith to take all reasonable actions necessary, subject to applicable law, to preserve the VCOC status of each VCOC Investor or the qualification of the investment as a “venture capital investment,”
it being understood that such reasonable actions shall not require a VCOC Investor to purchase or sell any investments. 

ARTICLE IV. 

ADDITIONAL COVENANTS 
 4.1 Ownership Limits. The Board has granted to the Blackstone Entities an exemption from the Common Stock Ownership Limit and Aggregate Stock Ownership Limit set forth in Article VII of the charter
of the Company. 
 ARTICLE V. 
 GENERAL PROVISIONS 
 5.1 Termination. This Agreement shall terminate on the
earlier to occur of (i) such time as the Blackstone Designator is no longer entitled to designate a Director pursuant to Section 2.1(a) and (ii) the delivery of a written notice by the Blackstone Designator to the Company requesting
that this Agreement terminate. 
 5.2 Notices. Any notice, designation, request, request for consent or consent provided
for in this Agreement shall be in writing and shall be either personally delivered, or mailed first class mail (postage prepaid) or sent by reputable overnight courier service (charges prepaid) to the Company at the address set forth below and to
any other recipient at the address indicated on the Company’s records, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Notices and other such
documents will be deemed to have been given or made hereunder when sent by facsimile (receipt confirmed) delivered personally, five (5) days after deposit in the U.S. mail and one (1) day after deposit with a reputable overnight courier
service. 
 The Company’s address is: 
 Brixmor Property Group Inc. 
 420 Lexington Avenue, Seventh Floor 

New York, New York 10170 

  
 8 

 
Attention: General Counsel 
 Fax: (212) 869-9585 

with a copy (not constituting notice) to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 

New York, NY 10017 
 Attention: Joshua Ford Bonnie, Esq. 
 Fax: (212) 455-2502 

The Blackstone Entities’ address is: 
 The Blackstone Group L.P. 
 345 Park Avenue 

New York, NY 10154 
 Attention: A.J. Agarwal 
 Fax: (212) 583-5749 

with a copy (not constituting notice) to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 

New York, NY 10017 
 Attention: Joshua Ford Bonnie, Esq. 
 Fax: (212) 455-2502 

5.3 Amendment; Waiver. This Agreement may be amended, supplemented or otherwise modified only by a written instrument executed by
the Company and the other parties hereto. Neither the failure nor delay on the part of any party hereto to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be
construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 

5.4 Further Assurances. The parties hereto will sign such further documents, cause such meetings to be held, resolutions passed,
exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this Agreement and every provision hereof. To the fullest extent permitted by law, the Company
shall not directly or indirectly take any action that is intended to, or would reasonably be expected to result in, Blackstone or any Blackstone Entity being deprived of the rights contemplated by this Agreement. 

5.5 Assignment. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors
and permitted assigns. This Agreement may not be assigned without the express prior written consent of the other parties hereto, and any 

  
 9 

 
attempted assignment, without such consents, will be null and void; provided, however, that, without the prior written consent of the Company, a Blackstone Party may assign this
Agreement to an Affiliate that becomes a party hereto. 
 5.6 Third Parties. Except as provided for in Article II,
Section 3.3 and Section 4.1 with respect to any Blackstone Entity, this Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto.

 5.7 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
Maryland, without regard to principles of conflicts of laws thereof. 
 5.8 Jurisdiction; Waiver of Jury Trial. In any
judicial proceeding involving any dispute, controversy or claim arising out of or relating to this Agreement, each of the parties unconditionally accepts the jurisdiction and venue of the courts of the State of Maryland or if jurisdiction over the
matter is vested exclusively in federal courts, the United States District Court for the District of Maryland, and the appellate courts to which orders and judgments thereof may be appealed. In any such judicial proceeding, the parties agree that in
addition to any method for the service of process permitted or required by such courts, to the fullest extent permitted by law, service of process may be made by delivery provided pursuant to the directions in Section 5.2. EACH OF THE PARTIES
HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

5.9 Specific Performance. Each party hereto acknowledges and agrees that in the event of any breach of this Agreement by any of
them, the other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the defense in any action for specific performance that a remedy at law would be adequate and agrees
that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance of this Agreement without the posting of bond. 

5.10 Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto with respect to the subject matter
hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof or thereof other than those expressly set forth herein and therein. This Agreement supersedes all other prior
agreements and understandings between the parties with respect to such subject matter. 
 5.11 Severability. If any
provision of this Agreement, or the application of such provision to any Person or circumstance or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected
thereby, and each other provision hereof shall be valid and enforceable to the fullest extent permitted by law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the
fullest extent permitted by law and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby. 

  
 10 

 5.12 Table of Contents, Headings and Captions. The table of contents, headings,
subheadings and captions contained in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any provision hereof. 

5.13 Grant of Consent. Any vote, consent or approval of, or designation by, or other action of, the Blackstone Designator
hereunder shall be effective if notice of such vote, consent, approval, designation or action is provided in accordance with Section 5.2 by the Blackstone Party or Parties holding of record a majority of the Outstanding Brixmor Interests then
held of record by Blackstone Parties as of the latest date any such notice is so provided. 
 5.14 Counterparts. This
Agreement and any amendment hereto may be signed in any number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable). 

5.15 Effectiveness. This Agreement shall become effective upon the Closing Date. 

5.16 No Recourse. This Agreement may only be enforced against, and any claims or cause of action that may be based upon, arise out
of or relate to this Agreement, or the negotiation, execution or performance of this Agreement may only be made against the entities that are expressly identified as parties hereto and no past, present or future Affiliate, director, officer,
employee, incorporator, member, manager, partner, stockholder, agent, attorney or representative of any party hereto shall have any liability for any obligations or liabilities of the parties to this Agreement or for any claim based on, in respect
of, or by reason of, the transactions contemplated hereby. 
 [Remainder Of Page Intentionally Left Blank]

  
 11 

 IN WITNESS WHEREOF, the parties hereto have executed this Stockholders Agreement on the day
and year first above written. 
  

			
	COMPANY
	
	BRIXMOR PROPERTY GROUP INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Stockholders’ Agreement] 

  

 
			
	BLACKSTONE PARTIES:
	
	BRE RETAIL HOLDCO L.P.
		
	By:	 	Blackstone Real Estate Associates VI L.P.,
		 	its general partner
		
	By:	 	BREA VI L.L.C.,
		 	its general partner
		
	By:	 	  

		 	Name:
		 	Title:     Authorized Signatory

 [Signature Page to Stockholders’ Agreement]EX-10.6

 Exhibit 10.6 
 Execution Version 
 REVOLVING CREDIT AND TERM LOAN AGREEMENT 

dated as of 

July 16, 2013 
 among 
 BRIXMOR OPERATING PARTNERSHIP LP 

The Lenders Party Hereto 
 JPMORGAN CHASE BANK, N.A. 
 as Administrative Agent 

BANK OF AMERICA, N.A. and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Syndication Agents 

and 
 BARCLAYS
BANK PLC, CITIBANK, N.A., DEUTSCHE BANK 
 SECURITIES INC., and ROYAL BANK OF CANADA 

as Documentation Agents 
  

 
 J.P. MORGAN
SECURITIES LLC, MERRILL LYNCH, PIERCE, FENNER 
 & SMITH INCORPORATED and WELLS FARGO SECURITIES, LLC 

as Joint Bookrunners and Joint Lead Arrangers 
 and 
 DEUTSCHE BANK SECURITIES INC., CITIGROUP 

GLOBAL MARKETS INCORPORATED, RBC CAPITAL 
 MARKETS, and BARCLAYS BANK PLC 
 as Joint Lead Arrangers 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 ARTICLE I         Definitions
	  	 	1	  
			
	 SECTION 1.01.
	 	 Defined Terms
	  	 	1	  
			
	 SECTION 1.02.
	 	 Classification of Loans and Borrowings
	  	 	31	  
			
	 SECTION 1.03.
	 	 Terms Generally
	  	 	32	  
			
	 SECTION 1.04.
	 	 Accounting Terms; GAAP
	  	 	32	  
		
	 ARTICLE II        The Credits
	  	 	32	  
			
	 SECTION 2.01.
	 	 Commitments
	  	 	32	  
			
	 SECTION 2.02.
	 	 Loans and Borrowings
	  	 	33	  
			
	 SECTION 2.03.
	 	 Requests for Borrowings
	  	 	34	  
			
	 SECTION 2.04.
	 	 Incremental Facilities
	  	 	35	  
			
	 SECTION 2.05.
	 	 Swingline Loans
	  	 	37	  
			
	 SECTION 2.06.
	 	 Letters of Credit
	  	 	38	  
			
	 SECTION 2.07.
	 	 Funding of Borrowings
	  	 	42	  
			
	 SECTION 2.08.
	 	 Interest Elections
	  	 	43	  
			
	 SECTION 2.09.
	 	 Termination and Reduction of Commitments
	  	 	44	  
			
	 SECTION 2.10.
	 	 Repayment of Loans; Evidence of Debt
	  	 	44	  
			
	 SECTION 2.11.
	 	 Prepayment of Loans
	  	 	45	  
			
	 SECTION 2.12.
	 	 Fees
	  	 	46	  
			
	 SECTION 2.13.
	 	 Interest
	  	 	47	  
			
	 SECTION 2.14.
	 	 Alternate Rate of Interest
	  	 	48	  
			
	 SECTION 2.15.
	 	 Increased Costs
	  	 	48	  
			
	 SECTION 2.16.
	 	 Break Funding Payments
	  	 	50	  
			
	 SECTION 2.17.
	 	 Payments Free of Taxes
	  	 	50	  
			
	 SECTION 2.18.
	 	 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	54	  
			
	 SECTION 2.19.
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	56	  
			
	 SECTION 2.20.
	 	 Defaulting Lenders
	  	 	57	  
			
	 SECTION 2.21.
	 	 Extension of Revolving Maturity Date
	  	 	58	  
		
	 ARTICLE III       Representations and Warranties
	  	 	59	  
			
	 SECTION 3.01.
	 	 Organization; Powers
	  	 	59	  
			
	 SECTION 3.02.
	 	 Authorization; Enforceability
	  	 	59	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
			
	 SECTION 3.03.
	 	 Governmental Approvals; No Conflicts
	  	 	59	  
			
	 SECTION 3.04.
	 	 Financial Condition; No Material Adverse Change
	  	 	60	  
			
	 SECTION 3.05.
	 	 Properties
	  	 	60	  
			
	 SECTION 3.06.
	 	 Litigation, Guarantee Obligations, and Environmental Matters
	  	 	60	  
			
	 SECTION 3.07.
	 	 Compliance with Laws and Agreements
	  	 	61	  
			
	 SECTION 3.08.
	 	 Investment Company Status
	  	 	61	  
			
	 SECTION 3.09.
	 	 Taxes
	  	 	61	  
			
	 SECTION 3.10.
	 	 ERISA
	  	 	61	  
			
	 SECTION 3.11.
	 	 Disclosure
	  	 	61	  
			
	 SECTION 3.12.
	 	 Sanctions Laws and Regulations
	  	 	62	  
			
	 SECTION 3.13.
	 	 Federal Reserve Board Regulations
	  	 	62	  
			
	 SECTION 3.14.
	 	 Subsidiaries
	  	 	62	  
			
	 SECTION 3.15.
	 	 Solvency
	  	 	62	  
			
	 SECTION 3.16.
	 	 Status of the Limited Partner
	  	 	62	  
			
	 SECTION 3.17.
	 	 Insurance
	  	 	62	  
		
	 ARTICLE IV         Conditions
	  	 	62	  
			
	 SECTION 4.01.
	 	 Effective Date
	  	 	62	  
			
	 SECTION 4.02.
	 	 Each Credit Event
	  	 	64	  
		
	 ARTICLE V           Affirmative Covenants
	  	 	65	  
			
	 SECTION 5.01.
	 	 Financial Statements; Ratings Change and Other Information
	  	 	65	  
			
	 SECTION 5.02.
	 	 Notices of Material Events
	  	 	66	  
			
	 SECTION 5.03.
	 	 Existence; Conduct of Business; REIT Status
	  	 	67	  
			
	 SECTION 5.04.
	 	 Payment of Obligations
	  	 	67	  
			
	 SECTION 5.05.
	 	 Maintenance of Properties; Insurance
	  	 	67	  
			
	 SECTION 5.06.
	 	 Books and Records; Inspection Rights
	  	 	67	  
			
	 SECTION 5.07.
	 	 Compliance with Laws
	  	 	68	  
			
	 SECTION 5.08.
	 	 Use of Proceeds and Letters of Credit
	  	 	68	  
			
	 SECTION 5.09.
	 	 [Reserved]
	  	 	68	  
			
	 SECTION 5.10.
	 	 Addition and Release of Guaranties
	  	 	68	  

  
 -ii-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
		
	 ARTICLE VI       Negative Covenants
	  	 	70	  
			
	 SECTION 6.01.
	 	 Financial Covenants
	  	 	70	  
			
	 SECTION 6.02.
	 	 Fundamental Changes
	  	 	72	  
			
	 SECTION 6.03.
	 	 Restricted Payments
	  	 	73	  
			
	 SECTION 6.04.
	 	 Transactions with Affiliates
	  	 	73	  
			
	 SECTION 6.05.
	 	 Sanctions Laws and Regulations
	  	 	73	  
			
	 SECTION 6.06.
	 	 Changes in Fiscal Periods
	  	 	73	  
		
	 ARTICLE VII      Events of Default
	  	 	74	  
			
	 SECTION 7.01.
	 	 Events of Default
	  	 	74	  
			
	 SECTION 7.02.
	 	 Distribution of Payments after Default
	  	 	76	  
		
	 ARTICLE VIII     The Administrative Agent
	  	 	77	  
		
	 ARTICLE IX        Miscellaneous
	  	 	79	  
			
	 SECTION 9.01.
	 	 Notices
	  	 	79	  
			
	 SECTION 9.02.
	 	 Waivers; Amendments
	  	 	81	  
			
	 SECTION 9.03.
	 	 Expenses; Indemnity; Damage Waiver
	  	 	82	  
			
	 SECTION 9.04.
	 	 Successors and Assigns
	  	 	84	  
			
	 SECTION 9.05.
	 	 Survival
	  	 	87	  
			
	 SECTION 9.06.
	 	 Counterparts; Integration; Effectiveness; Electronic Execution
	  	 	87	  
			
	 SECTION 9.07.
	 	 Severability
	  	 	88	  
			
	 SECTION 9.08.
	 	 Right of Setoff
	  	 	88	  
			
	 SECTION 9.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	88	  
			
	 SECTION 9.10.
	 	 WAIVER OF JURY TRIAL
	  	 	89	  
			
	 SECTION 9.11.
	 	 Headings
	  	 	90	  
			
	 SECTION 9.12.
	 	 Confidentiality
	  	 	90	  
			
	 SECTION 9.13.
	 	 Material Non-Public Information
	  	 	90	  
			
	 SECTION 9.14.
	 	 Interest Rate Limitation
	  	 	91	  
			
	 SECTION 9.15.
	 	 USA PATRIOT Act
	  	 	91	  
			
	 SECTION 9.16.
	 	 No Advisory or Fiduciary Responsibility
	  	 	91	  

  
 -iii-

 SCHEDULES: 
  

					
	Schedule EGL	  	—	  	Eligible Ground Leases
	Schedule II	  	—	  	Inland Indebtedness
	Schedule IUA	  	—	  	Inland Unencumbered Assets
	Schedule 2.01	  	—	  	Commitments
	Schedule 3.05	  	—	  	Unencumbered Assets
	Schedule 3.06	  	—	  	Disclosed Matters
	Schedule 3.14	  	—	  	Subsidiaries
	Schedule 6.04	  	—	  	Affiliate Transactions

 EXHIBITS: 
  

					
	Exhibit A	  	—	  	Form of Assignment and Assumption
	Exhibit B	  	—	  	Form of Compliance Certificate
	Exhibit C-1	  	—	  	U.S. Tax Certificate (For Non-U.S. Lenders that are not Partnerships for U.S. Federal Income Tax Purposes
	Exhibit C-2	  	—	  	U.S. Tax Certificate (For Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes
	Exhibit C-3	  	—	  	U.S. Tax Certificate (For Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes
	Exhibit C-4	  	—	  	U.S. Tax Certificate (For Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes
	Exhibit D	  	—	  	Form of Note
	Exhibit E	  	—	  	Form of Borrowing Request

  
 -iv-

 REVOLVING CREDIT AND TERM LOAN AGREEMENT (this “Agreement”) dated as
of July 16, 2013, among BRIXMOR OPERATING PARTNERSHIP LP, a Delaware limited partnership, the LENDERS party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent. 

The parties hereto agree as follows: 
 ARTICLE I 
 Definitions 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Acquisition
Asset” means any asset which has been owned for a period of less than twenty-four (24) months. 

“Additional Brixmor LLC Indebtedness” means any outstanding Indebtedness in excess of the aggregate principal
amount of $50,000,000 that is incurred by Brixmor LLC and the Brixmor LLC Subsidiaries, other than the Brixmor LLC Indebtedness and any Nonrecourse Indebtedness. 
 “Additional Credit Extension Amendment” means an amendment to this Agreement providing for any New Revolving Commitments and/or New Term Loans which shall be consistent with the
applicable provisions of this Agreement relating to New Revolving Commitments and/or New Term Loans and otherwise reasonably satisfactory to the Administrative Agent, the Company and the Borrower. 

“Additional Subsidiary Guarantor” means any Subsidiary of the Borrower that provides a Subsidiary Guaranty in
accordance with Section 5.10(a). 
 “Additional Subsidiary Indebtedness” means any outstanding
Indebtedness of the Subsidiaries of the Borrower that own or lease Unencumbered Assets (other than Brixmor LLC or any Brixmor LLC Subsidiary), other than Nonrecourse Indebtedness and other than Unsecured Indebtedness in an aggregate outstanding
principal amount of less than $50,000,000. 
 “Adjusted LIBO Rate” means, with respect to any Eurodollar
Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders
hereunder, and any successor thereto appointed pursuant to Article VIII. 

 “Administrative Questionnaire” means an administrative questionnaire
in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified
Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. In no event shall the Administrative Agent or any Lender be deemed to be an
Affiliate of the Borrower. 
 “Agent Party” has the meaning assigned to such term in Section 9.01(d).

 “Agreement” has the meaning assigned to such term in the Recitals. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not
a Business Day, the immediately preceding Business Day) plus 1%, provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing on the Reuters Screen LIBOR01 Page (or on any successor or
substitute page of such page) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and
including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 
 “Applicable Credit Rating” means a rating assigned to the Borrower’s Index Debt by Moody’s or S&P. 

“Applicable Rate” means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the
facility fees payable hereunder, as the case may be, the applicable rate per annum determined as set forth below. 
 (a) From
and after the Effective Date and until the Debt Rating Pricing Election Date, the Applicable Rates shall be determined as follows: 
 (i) for Revolving Loans, the “Eurodollar - Applicable Rate” or the “ABR - Applicable Rate”, as the case may be, shall be determined by the range into which the Total Leverage Ratio
falls in the table below: 
  

											
	 RATIO LEVEL
	  	TOTAL
LEVERAGE
RATIO	  	EURODOLLAR 
-
APPLICABLE
RATE	 	 	ABR -
APPLICABLE
RATE	 
	 Level I
	  	£ 45%	  	 	1.50	% 	 	 	0.50	% 
	 Level II
	  	> 45% and £ 50%	  	 	1.60	% 	 	 	0.60	% 
	 Level III
	  	> 50% and £ 55%	  	 	1.70	% 	 	 	0.70	% 
	 Level IV
	  	> 55% and £ 60%	  	 	1.85	% 	 	 	0.85	% 
	 Level V
	  	> 60% and £ 65%	  	 	2.10	% 	 	 	1.10	% 

  
 -2-

 ; provided that if the Public Company Financial Covenant Election Date has occurred, the Applicable
Rates set forth in the table above shall each be reduced by 0.10%; and 
 (ii) for Term Loans, the “Eurodollar -
Applicable Rate” or the “ABR - Applicable Rate”, as the case may be, shall be determined by the range into which the Total Leverage Ratio falls in the table below: 

 

											
	 RATIO LEVEL
	  	TOTAL
LEVERAGE
RATIO	  	EURODOLLAR 
-
APPLICABLE
RATE	 	 	ABR -
APPLICABLE
RATE	 
	 Level I
	  	£ 45%	  	 	1.40	% 	 	 	0.40	% 
	 Level II
	  	> 45% and £ 50%	  	 	1.50	% 	 	 	0.50	% 
	 Level III
	  	> 50% and £ 55%	  	 	1.60	% 	 	 	0.60	% 
	 Level IV
	  	> 55% and £ 60%	  	 	1.75	% 	 	 	0.75	% 
	 Level V
	  	> 60% and £ 65%	  	 	2.00	% 	 	 	1.00	% 

 For purposes of this clause (a), any increase or decrease in the Applicable Rate resulting from a change
in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a compliance certificate is delivered in accordance with Section 5.01(c); provided, however, that if such compliance
certificate is not delivered within thirty (30) days after notice from the Administrative Agent or the Required Lenders to the Borrower notifying the Borrower of the failure to deliver such compliance certificate on the date when due in
accordance with Section 5.01(c), then the Applicable Rate shall be the percentage that would apply to the Level V Ratio and it shall apply as of the first Business Day after the date on which such compliance certificate was required to have
been delivered. The Applicable Rate from the Effective Date until the delivery of the compliance certificate for the fiscal quarter ending September 30, 2013 shall be based on Level III. 

If at any time the financial statements upon which the Applicable Rate was determined were incorrect (whether based on a restatement,
fraud or otherwise), the Borrower shall be required to retroactively pay (or, if applicable, the Lenders will be required to credit against the next interest payment(s) due from the Borrower hereunder) any additional amount that the Borrower would
have been required to pay (or, if applicable, should not have paid) if such financial statements had been accurate at the time they were delivered. 

  
 -3-

 (b) From and after the Debt Rating Pricing Election Date, the Applicable Rates and the
Facility Fee Rate shall be determined as follows: 
 (i) for Revolving Loans, the “Eurodollar - Applicable Rate”, the
“ABR - Applicable Rate” or the “Facility Fee Rate”, as the case may be, shall be determined solely by the Applicable Credit Ratings in the table below: 

 

															
	 RATINGS LEVEL
	  	MOODY’S/
S&P
APPLICABLE
CREDIT
RATING
	  	EURODOLLAR
- 
APPLICABLE
RATE	 	 	ABR-

APPLICABLE
RATE	 	 	FACILITY
FEE
RATE	 
	 Level I Rating
	  	A3/A- or higher	  	 	0.90	% 	 	 	0	% 	 	 	0.15	% 
	 Level II Rating
	  	Baa1/BBB+	  	 	1.00	% 	 	 	0	% 	 	 	0.15	% 
	 Level III Rating
	  	Baa2/BBB	  	 	1.10	% 	 	 	0.10	% 	 	 	0.20	% 
	 Level IV Rating
	  	Baa3/BBB-	  	 	1.30	% 	 	 	0.30	% 	 	 	0.30	% 
	 Level V Rating
	  	Below
Baa3/BBB- or
unrated	  	 	1.70	% 	 	 	0.70	% 	 	 	0.35	% 

 (ii) for Term Loans, the “Eurodollar - Applicable Rate” or the “ABR - Applicable
Rate”, as the case may be, shall be determined solely by the Applicable Credit Ratings in the table below: 
  

											
	 RATINGS LEVEL
	  	MOODY’S/
S&P APPLICABLE
CREDIT 
RATING	  	EURODOLLAR
- 
APPLICABLE
RATE	 	 	ABR-

APPLICABLE
RATE	 
	 Level I Rating
	  	A3/A- or higher	  	 	0.95	% 	 	 	0	% 
	 Level II Rating
	  	Baa1/BBB+	  	 	1.05	% 	 	 	0.05	% 
	 Level III Rating
	  	Baa2/BBB	  	 	1.20	% 	 	 	0.20	% 
	 Level IV Rating
	  	Baa3/BBB-	  	 	1.50	% 	 	 	0.50	% 
	 Level V Rating
	  	Below Baa3/BBB- or
unrated	  	 	1.95	% 	 	 	0.95	% 

 For purposes of this clause (b), (A) if the Borrower has only one Applicable Credit Rating, such Applicable Credit
Rating shall determine the Applicable Rate, (B) if the Borrower has two Applicable Credit Ratings and the Applicable Credit Ratings do not match, then the higher of two Applicable Credit Ratings shall determine the Applicable Rate;
provided, however, that if the two Applicable Credit Ratings are more than one level apart, then the rating that is in between the two differing Applicable Credit Ratings (or, if there is more than one level in between the two ratings,
the higher of such rating) shall determine the Applicable Rate, and (C) if the Applicable Credit Ratings established or deemed to have been established by the rating agencies for the Index Debt shall be changed (other than as a result of change
in the rating system of any such rating agency), such change shall be effective as of the date on which it is first announced by the applicable rating agency and furnished to the Borrower. Each change in the Applicable Rate under this clause
(b) shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of 

  
 -4-

 
the next such change. If both S&P and Moody’s discontinue their ratings of the REIT industry or the Borrower, the Borrower may seek a rating of its Index Debt from another substitute
rating agency reasonably satisfactory to the Administrative Agent and the Borrower. For the period from the date of such discontinuance until the earlier of (i) the date the Borrower receives a rating of its Index Debt from such new rating
agency and (ii) ninety (90) days after the date of such discontinuance, the Applicable Rates and the Facility Fee Rate shall be based on the level that was in effect immediately prior to such discontinuance and, thereafter, if no such
substitute rating agency has been identified and accepted by the Administrative Agent, the Applicable Rates and the Facility Fee Rate shall be based on a Level V Rating in the above table. To the extent applicable, the above pricing grids will be
adjusted upon the receipt of such new rating from such new rating agency such that the pricing levels based on such new rating most closely correspond to the above ratings levels. 

If a downgrade or discontinuance of an Applicable Credit Rating results in an increase in the Applicable Rate or the Facility Fee Rate
and if such downgrade or discontinuance is reversed within ninety (90) days thereafter, at the Borrower’s request, the Borrower shall receive a credit against interest next due to the Lenders equal to the interest differential on the Loans
and the differential on the facility fee payable under Section 2.12(b) during such period of downgrade or discontinuance. 

If an upgrade of an Applicable Credit Rating results in a decrease in the Applicable Rate or Facility Fee Rate and if such upgrade is
reversed within ninety (90) days thereafter, the Borrower shall be required to pay an amount to the Lenders equal to the interest differential on the Loans and the differential on the facility fee payable under Section 2.12(b) during such
period of upgrade. 
 Any adjustment in the Applicable Rate shall be applicable to all existing Loans. 

“Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. 
 “Approved M&A Transaction” means the direct or indirect sale or
transfer to a Public Vehicle of a majority of the Equity Interests in the Borrower, or a direct or indirect sale or transfer by a Parent Entity to a Public Vehicle of all of the Equity Interests in the Borrower that are owned directly or indirectly
by the Parent Entity, in each case that has been approved by the Required Lenders pursuant to Section 6.02. 

“Assets Under Development” means as of any date of determination, all retail real estate assets then currently
under original construction or the expansion portion of any existing Operating Property under new construction, in each case which are then treated as assets under development under GAAP. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the
consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

  
 -5-

 “Authorized Officer” means any of the Chief Executive Officer,
President, Chief Operating Officer, Executive Vice President, Financial Officer or General Counsel of the general partner of the Borrower or any other officer listed on the incumbency certificate delivered pursuant to Section 4.01(c)(iii).

 “Availability Period” means, with respect to the Revolving Facility, the period from
and including the Last Day of the Delayed Draw Period to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments. 

“Available Revolving Commitment” means, as to any Revolving Lender at any time, an amount equal to the excess, if
any, of (a) such Lender’s Revolving Commitment then in effect minus (b) such Lender’s Revolving Credit Exposure then outstanding; provided, that in calculating any Lender’s Revolving Credit Exposure for the
purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.12(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero. 

“Balance Sheet Cash” means all cash and Cash Equivalents, including cash and Cash Equivalents held as collateral,
in escrow in a bank account by a lender, creditor or contract counterparty and from like-kind exchanges. 

“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good
faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by
virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with
immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or
disaffirm any contracts or agreements made by such Person. 
 “Board” means the Board of Governors of
the Federal Reserve System of the United States of America. 
 “Book Value” means, with respect to
any asset, the book value of such asset determined in accordance with GAAP, without giving effect to depreciation but after taking into account any impairments. 
 “Borrower” means Brixmor Operating Partnership LP, a Delaware limited partnership. 
 “Borrowing” means (a) Loans (or in the case of Term Loans, each portion thereof) of the same Type and Class, made, converted or continued on the same date and, in the case of
Eurodollar Loans (or in the case of Term Loans, each portion thereof), as to which a single Interest Period is in effect or (b) a Swingline Loan. 

  
 -6-

 “Borrowing Request” means a request in substantially the form of
Exhibit E hereto by the Borrower for a Borrowing in accordance with Section 2.03. 
 “Brixmor
LLC” means Brixmor LLC, a Delaware limited liability company. 
 “Brixmor LLC Election”
means the delivery by the Borrower of written notice to the Administrative Agent of its election (which shall be irrevocable) to (a) include the Brixmor LLC Indebtedness, any Additional Brixmor LLC Indebtedness and the Unencumbered Asset Value
attributable to the Brixmor LLC Unencumbered Assets in the calculation of the Unsecured Leverage Ratio and (b) include the Brixmor LLC Indebtedness, any Additional Brixmor LLC Indebtedness and the Net Operating Income attributable to the
Brixmor LLC Unencumbered Assets in the Unsecured Debt Yield Ratio. 
 “Brixmor LLC Indebtedness” means
the indebtedness of Brixmor LLC in the aggregate outstanding amount as of the Effective Date of approximately $405,000,000 issued pursuant to the Indentures dated March 29, 1995, February 3, 1999 and January 30, 2004 (in each
case, as such Indenture is amended, supplemented or modified from time to time). 
 “Brixmor LLC
Subsidiary” has the meaning assigned to such term in Section 5.10(b). 
 “Brixmor LLC Unencumbered
Asset” means, with respect to Brixmor LLC and any of its Wholly-Owned Subsidiaries, any Acquisition Asset, Land, Operating Property and Asset Under Development that satisfies clauses (a) and (b) of the definition of
“Unencumbered Asset” and that is owned or ground-leased (under an Eligible Ground Lease) by Brixmor LLC or such Wholly-Owned Subsidiary. For the avoidance of doubt, any such Acquisition Asset, Land, Operating Property or any Asset Under
Development shall not be eligible to be treated as a Brixmor LLC Unencumbered Asset under the circumstances described in Section 5.10(b)(2)(ii). 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 

“Capital Expenditure Reserve” means, for any Operating Property, an amount equal to (A) $0.15 multiplied
by (B) the number of square feet of such Operating Property. 
 “Capital Lease Obligations” of
any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified
and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“Capitalization Rate” means 7.00%. 

  
 -7-

 “Cash Equivalents” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the
United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof;

 (b) investments in commercial paper maturing within 365 days from the date of acquisition thereof and having, at such date of
acquisition, the highest credit rating obtainable from S&P or from Moody’s; 
 (c) investments in certificates of
deposit, banker’s acceptances and time deposits maturing within 365 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial
bank organized under the laws of the United States of America or any State thereof which has a combined capital and surplus and undivided profits of not less than $500,000,000; 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and
entered into with a financial institution satisfying the criteria described in clause (c) above; and 
 (e) money market
funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at
least $5,000,000,000. 
 “Change in Control” means: (a) for any reason whatsoever an entity other
than the General Partner, the Limited Partner, another Parent Entity or any direct Wholly-Owned Subsidiary of any of the foregoing becomes the general partner of the Borrower; (b) at any time prior to a Qualified IPO and for any reason
whatsoever, the Permitted Holders shall cease to own, directly or indirectly, at least 50.1% of the Equity Interests of the Parent Entity having the power, directly or indirectly, to designate (and do so designate) a majority of the board of
directors (the “Voting Equity Interests”); (c) at any time after a Qualified IPO and for any reason whatsoever any “person” or “group” (within the meaning of Rule 13d-5 of the Exchange Act as in
effect on the Effective Date) other than the Permitted Holders shall beneficially own a percentage of the then outstanding Voting Equity Interests of the Parent Entity that is more than 40% of the outstanding Voting Equity Interests of the Parent
Entity; or (d) at any time after a Qualified IPO, during any period of 12 consecutive months, individuals who at the beginning of any such 12-month period constituted the Board of Directors of the Parent Entity (together with any new directors
whose election by such Board or whose nomination for election by the shareholders of Parent Entity was approved by a vote of a majority of the directors then still in office who were either directors at the beginning of such period or whose election
or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Parent Entity. 
 “Change in Law” the occurrence after the date of this Agreement or, with respect to any Lender, such later date on which such Lender becomes a party to this Agreement) (a) the
adoption of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or 

  
 -8-

 
treaty or in the interpretation or application thereof by any Governmental Authority or (c) compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any
lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date
of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith
and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities, in each case pursuant to Basel III, shall be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans, Term Loans or Swingline Loans.

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

“Commitment” means, with respect to each Lender, its Revolving Commitment and/or its Term Loan Commitment, as the
context may require. 
 “Commitment Fee Rate” means, to the extent in effect as calculated on a daily
basis, for any calendar quarter (a) 0.25% per annum, if the average daily Revolving Commitment Utilization Percentage for such quarter is less than 50%, and (b) 0.175% per annum, if the average daily Revolving Commitment
Utilization Percentage for such quarter is greater than or equal to 50%. 
 “Communications” has the
meaning assigned to such term in Section 9.01(d). 
 “Competitor” shall mean (i) any competitor of
the Borrower that is engaged in the business of owning, managing and/or operating regional, neighborhood or community shopping centers, (ii) any REIT (other than a REIT that invests primarily in mortgages) or (iii) any Affiliate of either
of the foregoing. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated
Group” means the Limited Partner and all of its subsidiaries which are consolidated with the Limited Partner for financial reporting purposes under GAAP. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender. 

  
 -9-

 “Debt Rating Pricing Election Date” means the date on which
(a) an Investment Grade Rating Event has occurred and continues to exist on the date that the Borrower gives its election notice described below and (b) the Borrower has delivered written notice to the Administrative Agent of its election
(which shall be irrevocable) to have the Applicable Rates determined by reference to the Applicable Credit Ratings instead of the Total Leverage Ratio. 
 “Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

 “Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date
required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party any other amount required to be paid by it
hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically
identified and including the particular default, if any) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of
its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the
particular default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within two Business Days after request by a Credit Party, acting
in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in then
outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and
substance satisfactory to it and the Administrative Agent, or (d) has become the subject of a Bankruptcy Event. 

“Designated Persons” means a person or entity (a) listed in the annex to, or otherwise subject to the
provisions of, any Executive Order; (b) named as a “Specially Designated National and Blocked Person” (“SDN”) on the most current list published by OFAC at its official website or any replacement website or
other replacement official publication of such list (the “SDN List”) or is otherwise the subject of any Sanctions Laws and Regulations; (c) in which an entity or person on the SDN List has 50% or greater ownership
interest or that is otherwise controlled by an SDN. 
 “Disclosed Matters” means the actions, suits and
proceedings and the environmental matters disclosed in Schedule 3.06. 
 “dollars” or
“$” refers to lawful money of the United States of America. 
 “Effective
Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 9.02). 

  
 -10-

 “Electronic Signature” means an electronic sound, symbol, or process
attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

“Electronic System” means any electronic system, including e-mail, e-fax, Intralinks®, ClearPar® and any other Internet or extranet-based site,
whether such electronic system is owned, operated or hosted by the Administrative Agent and the Issuing Bank and any of its respective Related Persons or any other Person, providing for access to data protected by passcodes or other security
systems. 
 “Eligible Assignee” means (i) a Lender other than a Defaulting Lender or any Affiliate
or Approved Fund thereof; (ii) a commercial bank having total assets in excess of $2,500,000,000; (iii) the central bank of any country which is a member of the Organization for Economic Cooperation and Development; or (iv) a finance
company or other financial institution reasonably acceptable to the Administrative Agent, which is regularly engaged in making, purchasing or investing in loans and having total assets in excess of $300,000,000 or is otherwise reasonably acceptable
to the Administrative Agent. For the avoidance of doubt, no Ineligible Institution is an Eligible Assignee. 

“Eligible Ground Lease” means each ground lease existing on the date of this Agreement and listed on Schedule
EGL and each ground lease entered into or acquired after the date hereof that would constitute a financeable ground lease to a prudent institutional lender in the business of making commercial real estate loans and, accordingly, provide
customary protections for a potential leasehold mortgagee including a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years from the Effective Date. 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments,
injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of
any Hazardous Material or to health and safety matters. 
 “Environmental Liability” means any
liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation
of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous
Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

  
 -11-

 “ERISA” means the Employee Retirement Income Security Act of 1974,
as amended from time to time. 
 “ERISA Affiliate” means any trade or business (whether or not
incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer
under Section 414(m) of the Code. 
 “ERISA Event” means (a) any “reportable event”,
as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30 day notice period is waived); (b) any failure to meet the minimum funding standards of Section 303
of ERISA or Section 430 of ERISA; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence
by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC of any notice relating to an
intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a
determination that a Multiemployer Plan is, or is expected to be, in endangered or critical status, or insolvent or in reorganization, within the meaning of Title I or IV of ERISA, as applicable. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Event of Default” has the meaning assigned to such term in Section 7.01. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be
withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized
under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes,
(b) in the case of a Lender, U.S. Federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.19(b)) or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 2.17, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office,
(c) Taxes attributable to such Recipient’s failure to comply with Section 2.17(f) or (g), and (d) any U.S. Federal withholding Taxes imposed under FATCA. 

  
 -12-

 “Executive Order” has the meaning assigned to such term in the
definition of Sanctions Laws and Regulations. 
 “Facility” means each of the Term Loan Facility and the
Revolving Facility (and collectively, the “Facilities”). 
 “FATCA” means
Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official
interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code. 
 “Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of
the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Financial Covenants” means the Initial Financial Covenants and the Public Company Financial Covenants. 
 “Financial Officer” means the chief financial officer or principal accounting officer of the general partner of the Borrower. 

“Financial Statements” means the financial statements to be furnished pursuant to Sections 5.01(a) and (b).

 “First Mortgage Receivables” means any Indebtedness owing to a member of the Consolidated Group which
is secured by a first-priority mortgage or deed of trust on commercial real estate having a value in excess of (x) the purchase price of such Indebtedness with respect to any such Indebtedness that was originated by a third party and acquired
by such member of the Consolidated Group, or (y) the amount of such Indebtedness with respect to any such Indebtedness that was originated by such member of the Consolidated Group, and in each case, which has been designated by the Borrower as
a “First Mortgage Receivable” in its most recent financial covenant compliance certificate; provided, however, that (i) any such Indebtedness owed by an Investment Affiliate shall be reduced by the Ownership Share of
such Indebtedness, and (ii) any such Indebtedness owed by a member of the Consolidated Group shall be reduced by the Consolidated Group’s pro rata share of such Indebtedness. 

“Fixed Charges” means, for any period, the sum of (i) Total Interest Expense, (ii) all scheduled
principal payments due on account of Total Outstanding Indebtedness (excluding balloon payments) and (iii) all dividends payable on account of preferred stock or preferred operating partnership units of the Borrower or any other Person in the
Consolidated Group. 
 “Foreign Lender” means a Lender that is not a U.S. Person. 

  
 -13-

 “GAAP” means generally accepted accounting principles in the
United States of America. 
 “Galileo” means Brixmor GA America LLC, a Delaware limited liability
company. 
 “General Partner” means Brixmor OP GP LLC, a Delaware limited liability company. 

“Governmental Authority” means the government of the United States of America, any other nation or any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government. 
 “guarantee” of or by any Person (the
“guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or
other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term guarantee shall not include endorsements for collection or deposit
in the ordinary course of business. 
 “Guaranties” means, collectively, the Parent Guaranty and the
Subsidiary Guaranty (and each individually, a “Guaranty”). 
 “Guarantors” means
(i) the Parent Guarantors, (ii) subject to release as provided in Section 5.10(c), the Material Subsidiary Guarantors, (iii) subject to release as provided in Section 5.10(b), Brixmor LLC or any Brixmor LLC Subsidiary, if it
provides a Subsidiary Guaranty pursuant to Section 5.10(b), and (iv) subject to release as provided in Section 5.10(a), any Additional Subsidiary Guarantor, if it provides a Subsidiary Guaranty pursuant to Section 5.10(a). 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature
regulated pursuant to any Environmental Law. 
 “Increased Amount Date” has the meaning assigned to such
term in Section 2.04. 
 “Incremental Commitments” has the meaning assigned to such term in Section
2.04. 

  
 -14-

 “Indebtedness” of any Person means, without duplication,
(a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily
paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or
services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by)
any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person,
(i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of such Person in respect of bankers’
acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is personally liable therefor as a result of such
Person’s ownership interest in or other relationship with such entity, except any Indebtedness to the extent that any such Person is not personally liable therefore pursuant to the terms of any such Indebtedness. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment
made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 
 “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the Borrower that is not guaranteed by any other Person or subject to any other credit
enhancement. 
 “Ineligible Institution” means (a) a natural person, (b) a Defaulting Lender,
(c) the Borrower or any of its Affiliates, or (d) a Competitor. 
 “Initial Financial
Covenants” means the financial covenants set forth in Section 6.01(a). 
 “Inland
Entities” means Brixmor/IA JV, LLC and its subsidiaries. 
 “Inland Equity Interest” means
the Equity Interests in Brixmor/IA JV, LLC that are owned by Inland American Real Estate Trust, Inc. and its subsidiaries. 

“Inland Indebtedness” means the Indebtedness of the Inland Entities relating to the Inland Unencumbered Assets.
The Inland Indebtedness as of the Effective Date is set forth on Schedule II. 
 “Inland Loan
Documents” means the agreements, documents and instruments evidencing, securing or otherwise relating to the Inland Indebtedness. 
 “Inland Repurchase Date” means the date on which the Borrower, Brixmor/IA Member, LLC or any other Wholly-Owned Subsidiary of the Borrower purchases all of the Inland Equity
Interest (and Brixmor/IA JV, LLC thereby becomes a Wholly-Owned Subsidiary of the Borrower). 

  
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 “Inland Unencumbered Assets” means the properties described on
Schedule IUA that are owned or ground-leased by the Inland Entities; provided that such properties shall only be eligible to be treated as Inland Unencumbered Assets from and after the Inland Repurchase Date. 

“Inland Unencumbered Asset Value” means, as of any date, an amount equal to the aggregate Net Operating Income
from Inland Unencumbered Assets (notwithstanding the fact that such assets are encumbered pursuant to the Inland Indebtedness) for the most recently ended period of six (6) months for which the Borrower has reported financial results pursuant
to Section 5.01, annualized, and divided by the Capitalization Rate. 
 “Investment
Affiliate” means any Person in which the Consolidated Group, directly or indirectly, owns any Equity Interests, whose financial results are not consolidated under GAAP with the financial results of the Consolidated Group. 

“Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.08. 
 “Interest Payment Date” means (a) with respect to any ABR Loan (other
than a Swingline Loan), the last day of each March, June, September and December, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period, and
(c) with respect to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest
Period” means, with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter, as the
Borrower may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only,
such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and
(iii) no Interest Period shall extend beyond the then applicable Maturity Date for such Facility. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Revolving or Term
Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“Investment Grade Rating” means an Applicable Credit Rating of Baa3 or better from Moody’s or BBB- or better
from S&P. 
 “Investment Grade Rating Event” means the achievement by the Borrower of an Investment
Grade Rating. 

  
 -16-

 “IRS” means the United States Internal Revenue Service.

 “Issuing Bank” means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit
hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term
“Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. The Borrower, the Administrative Agent and any Lender may agree that such Lender may issue Letters of Credit hereunder, in which
case the term “Issuing Bank” shall include such Lender with respect to the Letters of Credit issued by such Lender, and each reference to “Issuing Bank” shall mean the applicable Issuing Bank or all Issuing Banks, as the context
may require. 
 “Joint Lead Arrangers” means Deutsche Bank Securities Incorporated, Citigroup Global
Markets Incorporated, RBC Capital Markets and Barclays Bank Plc, as Joint Lead Arrangers under this Agreement. 

“Joint Lead Arrangers/Joint Bookrunners” means J.P. Morgan Securities LLC, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Joint Bookrunners under this Agreement. 
 “Land” means any undeveloped land parcel, whether owned or ground-leased. 
 “Last Day of the Delayed Draw Period” has the meaning assigned to such term in Section 2.01(b). 
 “LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 
 “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC
Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be its Revolving Percentage of the total LC Exposure at such time. 

“Lender Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly,
a subsidiary. 
 “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a party hereto pursuant to Section 2.04 or an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context otherwise requires, the term
“Lenders” includes the Swingline Lender and the Issuing Bank. 
 “Letter of Credit” means any
letter of credit issued pursuant to this Agreement. 
 “LIBO Rate” means, with respect to any Eurodollar
Borrowing for any Interest Period, the rate appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page) on such screen at approximately 11:00 a.m., London time, two Business Days prior to the

  
 -17-

 
commencement of such Interest Period, as the rate for dollar deposits in the London interbank market with a maturity comparable to such Interest Period. In the event that such rate does not
appear on such page (or on any successor or substitute page on such screen or otherwise on such screen), the “LIBO Rate” shall be determined by reference to such other comparable publicly available service for displaying interest rates for
dollar deposits in the London interbank market as may be selected by the Administrative Agent or, in the absence of such availability, by reference to the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest
Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest
Period. 
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having
substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Limited Partner” means BPG Subsidiary Inc., a Delaware corporation. 

“Loan Documents” means this Agreement, including without limitation, schedules and exhibits hereto, the Notes (if
any), the Guaranties, and any other agreements entered into in connection herewith or therewith, including any amendments, modifications or supplements hereto or thereto or waivers hereof or thereof. 

“Loan Parties” means the Borrower and the Guarantors. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Management Fees” means, collectively, all fees and income earned by the Borrower and its Subsidiaries for the
applicable period in connection with the management, development, and operations of a property including, without limitation, all property management fees, asset management fees, leasing and sales commissions, development fees, construction
management fees, tenant coordination fees, legal fees, accounting fees, tax preparation fees, consulting fees, and financing or debt placement fees. 
 “Material Adverse Effect” means (a) a material adverse effect on the business, operations, properties or condition (financial or otherwise) of the Parent Guarantors and the
Borrower and its Subsidiaries taken as a whole, (b) a material impairment of the ability of any Loan Party to perform any of its obligations under any Loan Document or (c) a material adverse effect on the validity or enforceability of any
of the Loan Documents. 
 “Material Indebtedness” means Indebtedness (other than the Loans and Letters
of Credit and Nonrecourse Indebtedness), or obligations in respect of one or more Swap Agreements, of any one or more of the Parent Guarantors, the Borrower and its Subsidiaries in an aggregate principal amount exceeding $100,000,000. For purposes
of determining Material Indebtedness, the “principal amount” of the obligations of a Parent Guarantor, the Borrower or any Subsidiary 

  
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in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Parent Guarantor, the Borrower or such Subsidiary would be
required to pay if such Swap Agreement were terminated at such time. 
 “Material Subsidiaries” means
Galileo, Residual, Brixmor LLC, any Brixmor LLC Subsidiary that is then a party to a Subsidiary Guaranty, any Subsidiary which is then an Additional Subsidiary Guarantor, and any other Subsidiary of the Borrower to which more than 5% of Total Asset
Value is attributable. 
 “Material Subsidiary Guarantors” means Galileo and Residual. 

“Maturity Date” means the Revolving Maturity Date and/or the Term Loan Maturity Date, as the context may require.

 “Mezzanine Debt Investments” means any mezzanine or subordinated mortgage loans made by a member of
the Consolidated Group to entities that own commercial real estate or to the members, partners, stockholders, or other equity owners of such entities, which real estate has a value in excess of the sum of (x) the purchase price of such
Indebtedness with respect to any such Indebtedness that was originated by a third party and acquired by such member of the Consolidated Group, or (y) the amount of such Indebtedness with respect to any such Indebtedness that was originated by
such member of the Consolidated Group, plus any senior debt encumbering such real estate and which has been designated by the Borrower as a “Mezzanine Debt Investment” in its most recent financial covenant compliance certificate;
provided, however, that any such Indebtedness owed by a member of the Consolidated Group shall be reduced by the Consolidated Group’s pro rata share of such Indebtedness. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Negative Pledge” means a provision of any document, instrument or agreement (including any charter, by-laws or
other organizational documents), other than this Agreement or any other Loan Document, that prohibits, restricts or limits, or purports to prohibit, restrict or limit, the creation or assumption of any Lien on any assets of a Person as security for
the Indebtedness of such Person or any other Person, or entitles another Person to obtain or claim the benefit of a Lien on any assets of such Person; provided, however, that an agreement that conditions a Person’s ability to
encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to encumber its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, shall not
constitute a Negative Pledge. 
 “Net Operating Income” means, with respect to any Operating Property
for any period, as determined in accordance with GAAP, an amount equal to (i) the aggregate rental income and other revenues from the operation of such Operating Property, including from straight-lined rent and amortization of above or below
market leases minus (ii) all expenses and charges incurred in connection with the operation of such Operating Property (including, without limitation, real 

  
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estate taxes, management fees (at an assumed amount equal to two percent (2%) of the aggregate base rent and percentage rent (net of provisions for doubtful accounts) due and payable under
leases with tenants at such Operating Property), provisions for doubtful accounts and rent under ground leases); but, for the avoidance of doubt, excluding the payment of or provision for debt service charges, income taxes, capital expenses,
acquisition costs for consummated acquisitions, and depreciation, amortization, and other non-cash expenses. 
 “New
Revolving Commitments” has the meaning assigned to such term in Section 2.04. 
 “New Revolving
Loan Lender” has the meaning assigned to such term in Section 2.04. 
 “New Term Loan
Commitments” has the meaning assigned to such term in Section 2.04. 
 “New Term Loan
Lender” has the meaning assigned to such term in Section 2.04. 
 “New Term Loan” has
the meaning assigned to such term in Section 2.04. 
 “Nonrecourse Indebtedness” means, with
respect to a Person, Indebtedness for borrowed money (or the portion thereof) in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, violation of “special purpose
entity” covenants, bankruptcy, insolvency, receivership or other similar events and other similar exceptions to recourse liability until a claim is made with respect thereto, and then in the event of any such claim, only a portion of such
Indebtedness in an amount equal to the amount of such claim shall no longer constitute “Nonrecourse Indebtedness” for the period that such portion is subject to such claim) is contractually limited to specific assets of such Person
encumbered by a Lien securing such Indebtedness. 
 “Non-Stabilized Project” means, as of any date of
determination, any Operating Property (other than an Acquisition Asset or an Asset Under Development) for which (i) Net Operating Income for the most recently ended period of twelve (12) months for which the Borrower has reported financial
results pursuant to Section 5.01 divided by the then-current Book Value of such Operating Property is less than the Capitalization Rate and (ii) the Borrower has elected by written notice to the Administrative Agent that such
Operating Property be treated as a Non-Stabilized Property. Any such Operating Property may continue to be treated as a Non-Stabilized Property for up to twenty-four (24) months from the Effective Date or such later date on which such Operating
Property becomes a Non-Stabilized Property. 
 “Non-Wholly-Owned Subsidiary” means any Subsidiary of the
Borrower which is not a Wholly-Owned Subsidiary of the Borrower; provided, however, that none of the Inland Entities nor Excel Realty Partners, L.P. will be deemed a Non-Wholly-Owned Subsidiary, and each shall be treated as a
Wholly-Owned Subsidiary, notwithstanding the fact that the Borrower holds less than 100% of the Equity Interests in such Persons. 
 “Notes” means any promissory notes executed by the Borrower to evidence the Obligations in accordance with Section 2.10(e). 

“Obligations” means the unpaid principal of and interest on (including interest accruing after the maturity of
the Loans and LC Disbursements and interest accruing after the filing of any 

  
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petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is
allowed in such proceeding) the Loans and all other obligations and liabilities of the Borrower to the Administrative Agent or to any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter
incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the Letters of Credit, or any other document made, delivered or given in connection herewith or therewith, whether on account of principal,
interest, reimbursement obligations, fees, indemnities, costs, expenses (including all fees, charges and disbursements of counsel to the Administrative Agent or to any Lender that are required to be paid by the Borrower pursuant hereto) or
otherwise. 
 “OFAC” means Office of Foreign Assets Control of the United States Department of the
Treasury. 
 “Operating Property” means any real estate asset owned or ground leased by any member of
the Consolidated Group or any Investment Affiliate which at any time (i) is an income producing property in operating condition and in respect of which no material part thereof has been (a) damaged by fire or other casualty (unless such
damage has been repaired) or (b) condemned (unless the remaining portion of such property has been restored), and (ii) is a retail property. 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such
Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction
pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 
 “Other
Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the
receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to
Section 2.19). 
 “Ownership Share” means (a) with respect to any member of the Consolidated
Group other than a Non-Wholly Owned Subsidiary, 100%, (b) with respect to any Non-Wholly-Owned Subsidiary, the percentage of the issued and outstanding Equity Interests in such Non-Wholly-Owned Subsidiary held by the Consolidated Group, and
(c) with respect to any Investment Affiliate, the percentage of the total Equity Interests held by the Consolidated Group in the aggregate, in such Investment Affiliate determined by calculating the greater of (i) the percentage of the
issued and outstanding Equity Interests in such Investment Affiliate held by the Consolidated Group in the aggregate and (ii) the percentage of the total Book Value of such Investment Affiliate that would be received by the Consolidated Group
in the aggregate, upon liquidation of such Investment Affiliate, after repayment in full of all Indebtedness and other claims that would have priority in such a liquidation of such Investment Affiliate. Notwithstanding anything to the contrary
herein, with respect to each of the Inland Entities and Excel Realty Partners, L.P., “Ownership Share” means 100%. 

  
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 “Parent Entity” means Brixmor Property Group Inc., the Limited
Partner or any other Person holding, directly or indirectly, a majority of the Equity Interests in the Borrower. 

“Parent Guarantors” means the Limited Partner and the General Partner. 

“Parent Guaranty” means the Guaranty dated as of the date hereof from the Parent Guarantors in favor of the
Administrative Agent for the benefit of the Lenders. 
 “Participant” has the meaning assigned to such
term in Section 9.04(c). 
 “Participant Register” has the meaning assigned to such term in
Section 9.04(c). 
 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined
in ERISA and any successor entity performing similar functions. 
 “Permitted Encumbrances” means:

 (a) Liens imposed by law for Taxes that are not yet delinquent or are being contested in compliance with Section 5.04;

 (b) Statutory Liens of carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other
like Liens imposed by law, (i) arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days, (ii) are being contested or bonded over in compliance with Section 5.04, (iii) relate
to tenant improvements and with respect to which the applicable Subsidiary Guarantor is diligently enforcing its rights under a tenant lease to have removed by the applicable tenant, or (iv) if not resolved in favor of the applicable Subsidiary
Guarantor, is not reasonably likely to result in a material impairment of the value of the asset subject to such Lien; 
 (c)
pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; 

(d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case in the ordinary course of business; 
 (e) judgment liens in respect
of judgments that do not constitute an Event of Default under Section 7.01(k); and 
 (f) easements, zoning restrictions,
rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of the Borrower or any Subsidiary; 

  
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 provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness. 
 “Permitted Holders” means any of the following: Blackstone Real Estate Holdings VI
L.P., Blackstone Real Estate Partners (AIV) VI L.P., Blackstone Real Estate Partners VI.F L.P., Blackstone Real Estate Partners VI L.P., Blackstone Real Estate Partners VI. TE.1 L.P., Blackstone Real Estate Partners VI. TE.2 L.P., Blackstone Retail
Principal Transaction Partners L.P., Blackstone Retail Principal Transaction Partners CP L.P., Blackstone Retail Transaction II Holdco L.P., any Affiliate of the foregoing and any “group” within the meaning of Rule 13d-5 of the Exchange
Act as in effect on the Effective Date that includes any of the foregoing. 
 “Person” means any natural
person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or
Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

 “Prime Rate” means the rate of interest per annum publicly announced from time to time by
JPMorgan Chase Bank, N.A. (or any replacement Administrative Agent) as its prime rate in effect at its office located at 270 Park Avenue, New York, New York (or the principal office of any such replacement Administrative Agent); each change in the
Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Pro-Rata Share” means, with respect to any Lender, the percentage of the total Term Loan Exposure, Revolving
Credit Exposure and unused Commitments represented by such Lender’s Term Loan Exposure, Revolving Credit Exposure and unused Commitments. 
 “Public Company Exit” means the registration of any Equity Interests in a Parent Entity on a nationally-recognized stock exchange in the United States. 

“Public Company Financial Covenants” means the financial covenants set forth in Section 6.01(b). 

“Public Company Financial Covenant Election Date” means the date on which (a) no Default or Event of Default
has occurred and is continuing with respect to the Initial Financial Covenants and (b) the Borrower delivers an irrevocable written notice to the Administrative Agent of its election to be subject to the Public Company Financial Covenants
instead of the Initial Financial Covenants. 
 “Public Vehicle” means a Person whose Equity Interests
are listed on a nationally-recognized stock exchange in the United States, or a Wholly-Owned Subsidiary or an operating partnership of such Person. 
 “Qualified IPO” means the issuance by the Borrower or any Parent Entity of its common Equity Interests in an underwritten primary public offering (other than a public offering
pursuant 

  
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to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the Securities Act (whether alone or in connection with a secondary
public offering) and such Equity Interests are listed on a nationally-recognized stock exchange in the United States. 

“Recipient” means (a) the Administrative Agent, (b) any Lender and (c) any Issuing Bank, as
applicable. 
 “Register” has the meaning assigned to such term in Section 9.04(b)(iv). 

“REIT” means a domestic trust or corporation that qualifies as a real estate investment trust under the
provisions of §856, et. seq. of the Code or any successor provisions. 
 “Related Parties” means,
with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Required Facility Lenders” means, with respect to any Facility, the holders of more than 50% of the total Term
Loan Exposures or the total Revolving Commitments, as the case may be, outstanding under such Facility (or, in the case of the Revolving Facility, after any termination of the Revolving Commitments, the holders of more than 50% of the total
Revolving Credit Exposures); provided that, in the event any Lender shall be a Defaulting Lender, then for so long as such Lender is a Defaulting Lender, “Required Facility Lenders” means Lenders (excluding all Defaulting Lenders) having
more than 50% of the total Term Loan Exposures or the total Revolving Commitments (or total Revolving Credit Exposures), as the case may be, outstanding under such Facility (excluding the Term Loan Exposures, Revolving Commitments and Revolving
Credit Exposures, as applicable, of all Defaulting Lenders). 
 “Required Lenders” means, at any time,
Lenders having Term Loan Exposures, Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Term Loan Exposures, Revolving Credit Exposures and unused Commitments at such time; provided that, in
the event any of the Lenders shall be a Defaulting Lender, then for so long as such Lender is a Defaulting Lender, “Required Lenders” means Lenders (excluding all Defaulting Lenders) having Term Loan Exposures, Revolving Credit Exposures
and unused Commitments representing more than 50% of the sum of the total Term Loan Exposures, Revolving Credit Exposures and unused Commitments of such Lenders (excluding all Defaulting Lenders) at such time. 

“Residual” means Brixmor Residual Holding LLC, a Delaware limited liability company. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property)
with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower. 
 “Revolving Borrowing” means a Borrowing of Revolving Loans. 

  
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 “Revolving Commitment” means, with respect to each Lender, the
commitment of such Lender to make Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure
hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.04, and (c) reduced or increased from time to time pursuant to assignments by
or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Revolving Commitment is set forth on Schedule 2.01, or in the Additional Credit Extension Amendment or the Assignment and Assumption pursuant to which
such Lender shall have assumed its Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’ Revolving Commitments is $1,250,000,000. 
 “Revolving Commitment Utilization Percentage” means on any date, the percentage equal to a fraction (a) the numerator of which is the total Revolving Credit Exposures and
(b) the denominator of which is the total Revolving Commitments; provided that in calculating the total Revolving Credit Exposures for purposes of Section 2.12(a), the aggregate principal amount of Swingline Loans then outstanding
shall be deemed to be zero. 
 “Revolving Credit Exposure” means, with respect to any Revolving Lender
at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 
 “Revolving Facility” means the Revolving Commitments and the Revolving Loans and Swingline Loans made, and Letters of Credit issued, thereunder. 

“Revolving Lender” means a Lender with a Revolving Commitment or Revolving Credit Exposure. 

“Revolving Loan” means a Loan made pursuant to Section 2.01(a) and Section 2.03. 

“Revolving Maturity Date” means July 31, 2017, subject to extension as provided in Section 2.21. 

“Revolving Percentage” means, with respect to any Revolving Lender, the percentage of the total Revolving
Commitments represented by such Lender’s Revolving Commitment. If the Revolving Commitments have terminated or expired, the Revolving Percentages shall be determined based upon the Revolving Commitments most recently in effect, giving effect to
any assignments. 
 “S&P” means Standard & Poor’s Ratings Services, a division of the
McGraw-Hill Companies, Inc. 
 “Sanctions Laws and Regulations” means any sanctions, prohibitions
or requirements imposed by any executive order (an “Executive Order”) or by any sanctions program administered by OFAC. 
 “SEC” means the Securities and Exchange Commission of the United State of America. 

  
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 “Secured Indebtedness” means all Indebtedness of any Person that is
secured by a Lien on any asset of such Person; provided, however, that prior to the Inland Repurchase Date, the Inland Equity Interest will be deemed Secured Indebtedness. 

“Solvent” when used with respect to any Person, means that, as of any date of determination, (a) the fair
saleable value of its assets is in excess of the total amount of its liabilities (including, without limitation, contingent liabilities); (b) the present fair saleable value of its assets is greater than the probable liability on its existing
debts as such debts become absolute and matured; (c) it is then able and expects to be able to pay its debts (including, without limitation, contingent debts and other commitments) as they mature; and (d) it has capital sufficient to carry
on its business as conducted and as proposed to be conducted. 
 “Stabilized Project” means an Operating
Property which is not (i) an Acquisition Asset, (ii) an Asset Under Development or (iii) a Non-Stabilized Project. 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of
the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentage shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute
eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The
Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared
in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or
one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 

“Subsidiary” means any subsidiary of the Borrower. 

“Subsidiary Guaranty” means, collectively, (a) the Guaranty dated as of the date hereof from the Material
Subsidiary Guarantors in favor of the Administrative Agent for the benefit of the Lenders (the “Initial Subsidiary Guaranty”) and (b) any additional Guaranty in substantially the form of the Initial Subsidiary Guaranty
that may be executed and delivered after the Effective Date by Brixmor LLC, a Brixmor LLC Subsidiary or an Additional Subsidiary Guarantor in accordance with Section 5.10(a) or (b). 

  
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 “Swap Agreement” means any agreement with respect to any swap,
forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by
current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at
such time. The Swingline Exposure of any Lender at any time shall be its Revolving Percentage of the total Swingline Exposure at such time. 
 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder. 

“Swingline Loan” means a Loan made pursuant to Section 2.05. 

“Tangible Net Worth” shall have the meaning assigned to such term in Section 6.01(a)(v). 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup
withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Term Facility” means the Term Loan Commitments and the Term Loans made thereunder. 
 “Term Loan” means a Loan made pursuant to Section 2.01(b) and Section 2.03, and includes any New Term Loans made pursuant to Section 2.04. 

“Term Loan Commitment” means, with respect to each Term Loan Lender, the commitment of such Lender to make Term
Loans hereunder, including any New Term Loan Commitments. The initial amount of each Lender’s Term Loan Commitment is set forth on Schedule 2.01. The initial aggregate amount of the Lenders’ Term Loan Commitments is $1,500,000,000.

 “Term Loan Commitment Expiry Date” has the meaning assigned to such term in Section 2.01(b).

 “Term Loan Exposure” means, with respect to any Term Loan Lender at any time, the outstanding
principal amount of such Lender’s Term Loans. 
 “Term Loan Lender” means a Lender with a Term Loan
Commitment or Term Loan Exposure. 
 “Term Loan Maturity Date” means July 31, 2018. 

  
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 “Total Asset Value” means, as of any date, an amount equal to the
sum of the following for the Consolidated Group and the Investment Affiliates (in each case, in an amount equal to the Ownership Share for each member of the Consolidated Group and each Investment Affiliate): 

 

	 	(a)	the Total Capitalization Value as of such date, plus 

  

	 	(b)	the then-current Book Value of Land, plus 

  

	 	(c)	the then-current Book Value of Assets Under Development, plus 

  

	 	(d)	the value of Non-Stabilized Projects, as determined individually for each Non-Stabilized Project, at the then-current Book Value thereof, plus

  

	 	(e)	the value of Mezzanine Debt Investments that are not more than ninety (90) days past due determined in accordance with GAAP, plus 

 

	 	(f)	the then-current value under GAAP of all First Mortgage Receivables; 

 provided that, notwithstanding anything to the contrary herein, the aggregate contributions to Total Asset Value from categories (c), (d) and (e) above shall not exceed 35% of Total Asset Value
(and any amount in excess of such limitation shall be excluded from the calculation of Total Asset Value). 
 “Total
Capitalization Value” means, as of any date, without duplication, an amount equal to the sum of the following for the Consolidated Group and the Investment Affiliates (in each case, in an amount equal to the Ownership Share for each
member of the Consolidated Group and each Investment Affiliate): 
  

	 	(a)	the Ownership Share of Net Operating Income from Stabilized Projects of the Consolidated Group for the most recent six (6) months for which the Borrower has
reported financial results pursuant to Section 5.01, annualized, and divided by the Capitalization Rate, plus  

  

	 	(b)	the Ownership Share of Net Operating Income from Stabilized Projects owned by Investment Affiliates for the most recent six (6) months for which the Borrower has
reported financial results pursuant to Section 5.01, annualized, and divided by the Capitalization Rate, plus  

  

	 	(c)	the amount of Management Fees received by the Consolidated Group for the most recent six (6) months for which the Borrower has reported financial results pursuant
to Section 5.01, annualized, and divided by the Capitalization Rate, provided that the amount added to Total Capitalization Value pursuant to this clause (c) shall not exceed 5% of the Total Capitalization Value, plus 

  

	 	(d)	Acquisition Assets valued at the higher of their capitalization value (so long as owned for at least six (6) months) or acquisition cost, such capitalization value
to be calculated by dividing (x) the Net Operating Income for such Acquisition Assets for the most recent six (6) months for which the Borrower has reported financial results pursuant to Section 5.01, annualized, by (y) the
Capitalization Rate. 

  
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 “Total Interest Expense” means, for any period, without duplication,
the sum of (a) the Ownership Share of interest expense, determined on a notional basis, of the Consolidated Group for such period attributable to Total Outstanding Indebtedness during such period plus (b) the Ownership Share of any
interest expense, determined on a notional basis, of any Investment Affiliate, for such period, whether recourse or non-recourse. 
 “Total Net Operating Income” means for the Consolidated Group and all Investment Affiliates for any period, as determined in accordance with GAAP, an amount equal to (i) the
aggregate rental income and other revenues from the operation of all real estate assets, including from straight-lined rent and amortization of above or below market leases minus (ii) all expenses and other charges incurred in
connection with the operation of such real estate assets (including, without limitation, real estate taxes, management fees, provisions for doubtful accounts and rent under ground leases); but, for the avoidance of doubt, excluding the payment of or
provision for debt service charges, income taxes, capital expenses, and depreciation, amortization, and other non-cash expenses. 
 “Total Outstanding Indebtedness” means, as of any date of determination, without duplication, the sum of (a) the Ownership Share of all Indebtedness of the Consolidated Group
outstanding at such date, determined on a notional basis (and, including without limitation, the Inland Equity Interest), plus (b) the applicable Ownership Share of any Indebtedness of each Investment Affiliate other than Indebtedness of
such Investment Affiliate to a member of the Consolidated Group. 
 “Total Secured Indebtedness” means,
as of any date of determination, without duplication, the sum of (a) the aggregate principal amount of that portion of the Total Outstanding Indebtedness that is Secured Indebtedness, without regard to recourse, plus (b) the aggregate
principal amount of any Indebtedness of a Subsidiary of the Borrower that is to be treated as Secured Indebtedness in accordance with Section 5.10(a) or Section 5.10(b). 

“Total Unsecured Indebtedness” means, as of any date of determination, without duplication, the aggregate
principal amount of that portion of the Total Outstanding Indebtedness that is Unsecured Indebtedness, without regard to recourse, including without limitation all the outstanding Indebtedness under this Agreement as of such date; provided,
however, that prior to the Inland Repurchase Date, the Inland Equity Interest shall not be deemed Unsecured Indebtedness. 
 “Transactions” means the execution, delivery and performance by the Borrower and the other Loan Parties of this Agreement and the other Loan Documents, the borrowing of Loans, the
use of the proceeds thereof and the issuance of Letters of Credit hereunder. 
 “Type”, when used in
reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 

  
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 “Unencumbered Asset” means any Acquisition Asset, Land, Operating
Property and any Asset Under Development located in the United States which, as of any date of determination: 
 (a) 100% of
which is owned directly or indirectly in fee simple, in a condominium structure or ground leased (under an Eligible Ground Lease) by the Borrower or any Subsidiary that is a Wholly-Owned Subsidiary (but excluding the Inland Entities until the Inland
Repurchase Date occurs); and 
 (b) is not subject to any Liens, claims, or restrictions on transferability or assignability of
any kind (including any such Lien, claim or restriction imposed by the organizational documents of any subsidiary, any Negative Pledge clause, or any “equal and ratable” clause or similar provision that entitles an entity to a Lien on such
asset upon the occurrence of any contingency) other than (i) Permitted Encumbrances or Liens in favor of the Administrative Agent and (ii) customary restrictions on transferability that result in a change of control or that trigger a right
of first offer or right of first refusal. 
 Notwithstanding the foregoing, to the extent that and only so long as any
Acquisition Asset, Land, Operating Property or any Asset Under Development otherwise satisfies clauses (a) and (b) above but is an “Excluded Unencumbered Asset” pursuant to Section 5.10(a)(2)(ii), such Acquisition Asset,
Land, Operating Property or Asset Under Development shall not be an “Unencumbered Asset.” 
 “Unencumbered
Asset Value” means, as of any date, an amount equal to the sum of the following for the Consolidated Group (in each case, in an amount equal to the Ownership Share for each member of the Consolidated Group): 

(a) Net Operating Income from Stabilized Projects that are Unencumbered Assets for the most recent six (6) months for which the
Borrower has reported results, annualized, and divided by the Capitalization Rate, plus 
 (b) the then-current
Book Value of Assets Under Development that are Unencumbered Assets, provided that the amount added to Unencumbered Asset Value pursuant to this clause (b) shall not exceed 10% of the total Unencumbered Asset Value, plus 

(c) the then-current Book Value of all Land that is an Unencumbered Asset, provided that the amount added to Unencumbered Asset Value
pursuant to this clause (c) shall not exceed 5% of the total Unencumbered Asset Value, plus 
 (d) Acquisition
Assets that are Unencumbered Assets valued at the higher of their capitalization value (so long as owned for at least six (6) months) or acquisition cost, such capitalization value to be calculated by dividing (x) the Net Operating Income
for such Acquisition Assets for the most recent six (6) months, annualized, by (y) the Capitalization Rate, plus 
 (e) the value of Non-Stabilized Projects that are Unencumbered Assets, as determined individually for each such unencumbered Non-Stabilized Project, at the then-current Book Value thereof, plus

  
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 (f) 75% of the amount of Management Fees received by the Consolidated Group for the most
recent six (6) months for which the Borrower has reported results, annualized, and divided by 15%, provided that the amount added to Unencumbered Asset Value pursuant to this clause (f) shall not exceed 5% of the total Unencumbered
Asset Value. 
 “Unrestricted Cash” means all Balance Sheet Cash other than cash and Cash Equivalents
held as collateral, in escrow in a bank account by a lender, creditor or contract counterparty and from like-kind exchanges. 

“Unsecured Indebtedness” means all Indebtedness of any Person that is not secured by a Lien on any asset of such
Person. 
 “Unsecured Debt Yield Ratio” means the financial covenant ratio set forth in
Section 6.01(a)(vi). 
 “Unsecured Leverage Ratio” means the financial covenant ratio set forth in
Section 6.01(a)(iii). 
 “U.S. Person” means a “United States person” within the
meaning of Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning
assigned to such term in Section 2.17(f)(ii)(B)(3). 
 “Wholly-Owned Subsidiary” of a Person means
(i) any Subsidiary of which all of the outstanding voting Equity Interests shall at the time be owned or controlled, directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or
more Wholly-Owned Subsidiaries of such Person, or (ii) any partnership, association, joint venture or similar business organization of which 100% of the Equity Interests having ordinary voting power shall at the time be so owned or controlled
by such Person; provided, however, that each of the Inland Entities (including prior to the Inland Repurchase Date) and Excel Realty Partners, L.P. will be deemed a Wholly-Owned Subsidiary notwithstanding the fact that the Borrower
holds less than 100% of the Equity Interests in such Persons. 
 “Withdrawal Liability” means liability
to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Withholding Agent” means any Loan Party and the Administrative Agent. 

SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”).
Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type
(e.g., a “Eurodollar Revolving Borrowing”). 

  
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 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. With respect to a reference to any date, the word
“from” shall mean “from and including” such date and the word “until” shall mean “until but excluding such date”. Unless the context requires otherwise (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and Schedules to, this Agreement, (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights and (f) any reference to any law, rule or regulation shall mean such law, rule or regulation as amended, modified, replaced or supplemented from time to time. 

SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial
nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such
purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall
have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed,
and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standard having a
similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein. 
 ARTICLE II 
 The Credits 

SECTION 2.01. Commitments. (a) Subject to the terms and conditions set forth herein, each Revolving Lender agrees to make
Revolving Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving Commitment or
(ii) the 

  
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sum of the total Revolving Credit Exposures exceeding the total Revolving Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may
borrow, prepay and reborrow Revolving Loans. 
 (b) Subject to the terms and conditions set forth herein, each Term Loan Lender
agrees to make Term Loans (other than New Term Loans) to the Borrower in up to five (5) Borrowings made on the date (that is on or after the Effective Date and on or before the Term Loan Commitment Expiry Date) and in the principal amount
requested by the Borrower in accordance with Section 2.03 so long as such requested amount does not result in (i) the aggregate principal amount of the Term Loans made by such Term Loan Lender exceeding its Term Loan Commitment or
(ii) the aggregate principal amount of all Term Loans made by the Term Loan Lenders exceeding the total Term Loan Commitments. The Term Loan Commitments of the Lenders to make the Term Loans (other than the New Term Loan Commitments, which
shall be governed by Section 2.04) shall expire on the earliest of (a) the date specified in Section 4.01 in the event that the conditions set forth in Section 4.01 are not satisfied (or waived pursuant to Section 9.02) at
or prior to 3:00 p.m. New York City time on such date, (b) the date on which the aggregate principal amount of Borrowings of Term Loans equals the aggregate Term Loan Commitments, or (c) September 30, 2013 (such earliest date, the
“Term Loan Commitment Expiry Date”, and the earlier of clauses (b) and (c), the “Last Day of the Delayed Draw Period”). Any portion of the Term Loans that is repaid may not be reborrowed.

 SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of
Revolving Loans made by the Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan shall be made as part of a Borrowing consisting of Term Loans made by the Term Loan Lenders ratably in accordance with their
respective Term Loan Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender
shall be responsible for any other Lender’s failure to make Loans as required. 
 (b) Subject to Section 2.14, each
Borrowing of any Class shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Swingline Loan shall be an ABR Loan. So long as doing so would not result in any increased costs
to which the Borrower would be responsible for under Section 2.15, each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise
of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than
$5,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000; provided that (i) any Borrowing need not comply
with the foregoing integral multiple requirements if the proceeds of such Borrowing are to be used to repay Indebtedness as long as such Borrowing is in an amount equal to the amount being repaid, and (ii) an ABR Revolving Borrowing may be
in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments or that is required to finance the 

  
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reimbursement of an LC Disbursement as contemplated by Section 2.06(e). At the commencement of each Interest Period for any Eurodollar Term Borrowing, such Borrowing shall be in an aggregate
amount that is an integral multiple of $5,000,000 and not less than $10,000,000. At the time that each ABR Term Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than
$5,000,000; provided that an ABR Term Loan Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Term Loan Commitments. Each Swingline Loan shall be in an amount that is an integral multiple of
$1,000,000 and not less than $2,000,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of eight (8) Eurodollar Revolving Borrowings or ten
(10) Eurodollar Term Borrowings outstanding. 
 (d) Notwithstanding any other provision of this Agreement, the Borrower
shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the applicable Maturity Date. 

SECTION 2.03. Requests for Borrowings. To request a Borrowing, the Borrower shall notify the Administrative Agent of such request
by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00
a.m., New York City time, one Business Day before the date of the proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by
Section 2.06(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing, and any notice of a Swingline Loan Borrowing shall be made in accordance with Section 2.05(b). Each such telephonic
Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, telecopy or e-mail to the Administrative Agent of a written Borrowing Request and signed by an Authorized Officer. Each such telephonic and written Borrowing
Request shall specify the following information in compliance with Section 2.02: 
 (i) the aggregate principal amount of
the requested Borrowing, and whether such Borrowing is a Revolving Borrowing or a Term Loan Borrowing; 
 (ii) the date of such
Borrowing, which shall be a Business Day; 
 (iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; 
 (iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a
period contemplated by the definition of the term “Interest Period”; and 
 (v) the location and account number of the
account to which funds are to be disbursed, which shall comply with the requirements of Section 2.07. 
 If no election as to the Type of
Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one

  
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month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the
amount of such Lender’s Loan to be made as part of the requested Borrowing. 
 SECTION 2.04. Incremental
Facilities. On one or more occasions at any time after the Effective Date, the Borrower may by written notice to the Administrative Agent elect to request (A) an increase to the existing Revolving Commitments (any such increase, the
“New Revolving Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments”, together with the New Revolving Commitments, the
“Incremental Commitments”), by up to an aggregate amount not to exceed $1,000,000,000 for all Incremental Commitments. Each such notice shall specify the date (each, an “Increased Amount Date”) on
which the Borrower proposes that such Incremental Commitments shall be effective, which shall be a date not less than five (5) Business Days after the date on which such notice is delivered to the Administrative Agent. The Administrative Agent
and/or its Affiliates shall use commercially reasonable efforts, with the assistance of the Borrower, to arrange a syndicate of Lenders or other Persons that are Eligible Assignees willing to hold the requested Incremental Commitments;
provided that (x) any Incremental Commitments on any Increased Amount Date shall be in the minimum aggregate amount of $10,000,000, (y) any Lender approached to provide all or a portion of the Incremental Commitments may elect or
decline, in its sole discretion, to provide an Incremental Commitment; provided that the Lenders will first be afforded the opportunity to provide the Incremental Commitments on a pro rata basis, and if any Lender so approached fails to respond,
such Lender shall be deemed to have declined to provide such Incremental Commitments, and (z) any Lender or other Person that is an Eligible Assignee (each, a “New Revolving Loan Lender” or “New Term Loan
Lender,” as applicable) to whom any portion of such Incremental Commitment shall be allocated shall be subject to the approval of the Borrower and the Administrative Agent (such approval not to be unreasonably withheld or delayed), and,
in the case of a New Revolving Commitment, the Issuing Bank and the Swingline Lender (each of which approvals shall not be unreasonably withheld), unless such New Revolving Loan Lender or New Term Loan Lender is an existing Lender.

 The terms and provisions of any New Revolving Commitments shall be identical to the existing Revolving Commitments.
The terms and provisions of any New Term Loan Commitments and any New Term Loans shall (a) provide that the maturity date of any New Term Loan that is a separate tranche shall be no earlier than the Term Loan Maturity Date and shall not have
any scheduled amortization payments, (b) share ratably in any prepayments of the existing Term Loan Facility, unless the Borrower and the New Term Loan Lenders in respect of such New Term Loans elect lesser payments and (c) otherwise be
identical to the existing Term Loans or reasonably acceptable to the Administrative Agent. 
 The effectiveness of any
Incremental Commitments and the availability of any borrowings under any such Incremental Commitment shall be subject to the satisfaction of the following conditions precedent: (x) after giving pro forma effect to such Incremental Commitments
and borrowings and the use of proceeds thereof, (i) no Default or Event of Default shall exist and (ii) as of the last day of the most recent month for which financial statements have been delivered pursuant to Section 5.01, the
Borrower would have been in compliance with the Financial Covenants that are applicable at such time; (y) the representations and warranties made or deemed made by the Borrower in any Loan Document shall be true and correct in all material

  
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respects on the effective date of such Incremental Commitments except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such
representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Loan Documents; and (z) the
Administrative Agent shall have received each of the following, in form and substance reasonably satisfactory to the Administrative Agent: (i) if not previously delivered to the Administrative Agent, copies certified by the Secretary or
Assistant Secretary of (A) all corporate or other necessary action taken by the Borrower to authorize such Incremental Commitments and (B) all corporate, partnership, member, or other necessary action taken by each Guarantor authorizing
the Guaranty by such Guarantor of such Incremental Commitments; and (ii) a customary opinion of counsel to the Borrower and the Guarantors (which may be in substantially the same form as delivered on the Effective Date and may be delivered by
internal counsel of the Borrower), and addressed to the Administrative Agent and the Lenders, and (iii) if requested by any Lender, new notes executed by the Borrower, payable to any new Lender, and replacement notes executed by the Borrower,
payable to any existing Lenders. 
 On any Increased Amount Date on which New Revolving Commitments are effected, subject to the
satisfaction of the foregoing terms and conditions, (a) each of the Revolving Lenders shall assign to each of the New Revolving Loan Lenders, and each of the New Revolving Lenders shall purchase from each of the Revolving Lenders, at the
principal amount thereof (together with accrued interest), such interests in the Revolving Loans outstanding on such Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving
Loans will be held by existing Revolving Loan Lenders and New Revolving Loan Lenders ratably in accordance with their Revolving Commitments after giving effect to the addition of such New Revolving Commitments to the Revolving Commitments,
(b) each New Revolving Commitment shall be deemed for all purposes a Revolving Commitment and each Loan made thereunder shall be deemed, for all purposes, a Revolving Loan and (c) each New Revolving Loan Lender shall become a Lender with
respect to its New Revolving Commitment and all matters relating thereto. 
 On any Increased Amount Date on which any New Term
Loan Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each New Term Loan Lender shall make a Loan to the Borrower (a “New Term Loan”) in an amount equal to its New Term
Loan Commitment, and (ii) each New Term Loan Lender shall become a Lender hereunder with respect to the New Term Loan Commitment and the New Term Loans made pursuant thereto. 

The Administrative Agent shall notify the Lenders promptly upon receipt of the Borrower’s notice of each Increased Amount Date and
in respect thereof (y) the New Revolving Commitments and the New Revolving Loan Lenders or the New Term Loan Commitments and the New Term Loan Lenders, as applicable, and (z) in the case of each notice to any Revolving Loan Lender, the
respective interests in such Revolving Loan Lender’s Revolving Loans, in each case subject to the assignments contemplated by this Section. 

  
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 The upfront fees payable to the New Revolving Loan Lenders and/or New Term Loan Lenders
shall be determined by the Borrower and the applicable New Revolving Loan Lenders and/or New Term Loan Lenders. 
 The
Incremental Commitments shall be effected pursuant to one or more Additional Credit Extension Amendments executed and delivered by the Borrower, the New Revolving Loan Lender or New Term Loan Lender, as applicable, and the Administrative Agent, and
each of which shall be recorded in the Register. Each Additional Credit Extension Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in
the opinion of the Administrative Agent, to effect the provisions of this Section 2.04. 
 SECTION 2.05. Swingline
Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in an aggregate principal amount at any time outstanding
that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $50,000,000 or (ii) the sum of the total Revolving Credit Exposures exceeding the total Revolving Commitments; provided that the
Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline
Loans. 
 (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such request by telephone
(confirmed by telecopy), not later than 12:00 noon, New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the
requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Borrower. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to the
general deposit account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the Issuing Bank) by 3:00 p.m.,
New York City time, on the requested date of such Swingline Loan. 
 (c) The Swingline Lender may by written notice given
to the Administrative Agent not later than 10:00 a.m., New York City time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice
shall specify the aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such
Lender’s Revolving Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline
Lender, such Lender’s Revolving Percentage of such Swingline Loan or Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset,
abatement, 

  
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withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as
provided in Section 2.07 with respect to Revolving Loans made by such Revolving Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall
promptly pay to the Swingline Lender the amounts so received by it from the Revolving Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter
payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline
Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the
Administrative Agent to the Revolving Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the
Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not
relieve the Borrower of any default in the payment thereof. 
 SECTION 2.06. Letters of Credit. (a) General.
Subject to the terms and conditions set forth herein, the Borrower may request and the Issuing Bank shall issue Letters of Credit as the applicant thereof for the support of its or its Subsidiaries’ obligations, in a form reasonably acceptable
to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

(b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the
amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and
the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days or such shorter period as the Issuing Bank shall agree to) a notice requesting the
issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is
to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such
Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued,
amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension
(i) the LC Exposure shall not exceed $75,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. 

  
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 (c) Expiration Date. Each Letter of Credit shall expire (or be subject to termination
by notice from the Issuing Bank to the beneficiary thereof) at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension
thereof, one year after such renewal or extension, which renewals or extensions, subject to clause (ii) hereof, may be automatic pursuant to the terms of such Letter of Credit so long as the Issuing Bank shall have the right to prevent such
renewal or extension at least once in each twelve month period) and (ii) the date that is five Business Days prior to the Revolving Maturity Date. Notwithstanding the foregoing, a Letter of Credit may have an expiration date that is not more
than twelve (12) months after the Revolving Maturity Date so long as (x) the Borrower shall provide cash collateral to the Administrative Agent pursuant to and in accordance with Section 2.06(j) on or prior to forty-five
(45) days before the Revolving Maturity Date in an amount equal to 102% of the LC Exposure with respect to all such Letters of Credit with expiry dates after the Revolving Maturity Date, (y) the obligations of the Borrower under this
Section 2.06 in respect of such Letters of Credit shall survive the Revolving Maturity Date and shall remain in effect until no such Letters of Credit remain outstanding and (z) each Lender shall remain obligated hereunder, to the extent
any such cash collateral, the application thereof or reimbursement in respect thereof is required to be returned to the Borrower by the Administrative Agent after the Revolving Maturity Date until no such Letters of Credit remain outstanding.

 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount
thereof) and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from the Issuing Bank, a participation in such Letter of
Credit equal to such Lender’s Revolving Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally
agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s Revolving Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this
paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a
Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
 (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent an
amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on the date that such LC Disbursement is made, if the Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., New York City time,
on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, New York City time, on (i) the Business Day that the Borrower receives

  
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such notice, if such notice is received prior to 10:00 a.m., New York City time, on the day of receipt, or (ii) the Business Day immediately following the day that the Borrower receives
such notice, if such notice is not received prior to such time on the day of receipt; provided that the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or 2.05 that such
payment be financed with an ABR Revolving Borrowing or Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting
ABR Revolving Borrowing or Swingline Loan. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect
thereof and such Lender’s Revolving Percentage thereof. Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Revolving Percentage of the payment then due from the Borrower, in the same
manner as provided in Section 2.07 with respect to Revolving Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall
promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute
such payment to the Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Revolving Lenders and the Issuing Bank as their interests may appear. Any
payment made by a Revolving Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and
shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 
 (f) Obligations Absolute. The
Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under
any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of
Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document
that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or
equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical
terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that nothing in this Section shall be construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as
opposed to special, indirect, consequential or punitive damages, claims in respect of which are hereby waived by the 

  
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Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other
documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of
competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented
which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation,
regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 

(g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to
represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will
make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Revolving Lenders with respect to any such LC
Disbursement. 
 (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower
shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then
Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of
this Section to reimburse the Issuing Bank shall be for the account of such Revolving Lender to the extent of such payment. 
 (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor
Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced
Issuing Bank pursuant to Section 2.12(c). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters
of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context
shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of
Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

  
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 (j) Cash Collateralization. If (A) any Event of Default shall occur and be
continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Facility Lenders under the Revolving Facility (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, or (B) required by Section 2.06(c), the Borrower shall deposit in an account with the Administrative Agent, in the
name of the Administrative Agent and for the benefit of the Revolving Lenders, an amount in cash equal to 102% of the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash
collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in
Section 7.01(h) or (i). Such deposit shall be held by the Administrative Agent for the satisfaction of the LC Exposure. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such
account. Other than any interest earned on the investment of such deposits, which investments shall be made in Cash Equivalents at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits
shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not
been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time. If the Borrower is required to provide an amount of cash collateral hereunder as
a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 

SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swingline Loans
shall be made as provided in Section 2.05. The Administrative Agent will make such Loans available to the Borrower by promptly, but in no event later than 2:00 PM, New York City time, crediting the amounts so received, in like funds, to an
account of the Borrower or other account designated by the Borrower in the applicable Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall
be remitted by the Administrative Agent to the Issuing Bank. 
 (b) Unless the Administrative Agent shall have received notice
from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share
available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and
including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective

  
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Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable
to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.08. Interest Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an
initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 

(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by the
time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by an Authorized Officer.

 (c) Each telephonic and written Interest Election Request shall specify the following information in compliance with
Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different options are being
elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each
resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which shall be
a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and

 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect
to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such
Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

  
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 (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) If the
Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest
Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Facility Lenders
under the applicable Facility, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing under such Facility may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid,
each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously terminated, the Revolving Commitments shall
terminate on the Revolving Maturity Date and (b) the Term Loan Commitments shall terminate on the Term Loan Commitment Expiry Date as provided in Section 2.01(b). 
 (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments under a particular Facility; provided that (i) each reduction of the Commitments shall be in an amount
that is an integral multiple of $1,000,000 and not less than $50,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with
Section 2.11, the sum of the Revolving Credit Exposures would exceed the total Revolving Commitments. 
 (c) The Borrower
shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such
election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable;
provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower
(by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments under a particular Facility
shall be made ratably among the Lenders in accordance with their respective Commitments under such Facility. 
 SECTION 2.10.
Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each Revolving Lender, the then unpaid principal amount of each Revolving Loan on the
Revolving Maturity Date, (ii) to the Administrative Agent for the account of each Term Loan Lender, the then unpaid principal amount of each Term Loan on the Term Loan Maturity Date and (iii) to the Swingline Lender the then unpaid
principal amount of each Swingline Loan on the earlier of the Revolving Maturity Date and the first date after such Swingline Loan is made that is the 15th or 

  
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last day of a calendar month and is at least two Business Days after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Borrower shall repay
all Swingline Loans then outstanding. 
 (b) Each Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class
and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (d) The entries made
in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender
or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

(e) Any Lender may request that Loans made by it be evidenced by one or more promissory notes in substantially the form of Exhibit
D. In such event, the Borrower shall prepare, execute and deliver to such Lender one or more promissory notes payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved
by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note(s) and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form
payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). Upon either (a) payment in full of the Loans evidenced by any such promissory note and termination of
the Commitments relating thereto or (b) the assignment of such Loans and Commitments in accordance with Section 9.04 hereof, each such promissory note shall be returned to the Borrower by the payee named therein at the request of the
Borrower. 
 SECTION 2.11. Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to
time to prepay any Borrowing in whole or in part, without premium or penalty (except as provided in Section 2.16), subject to prior notice in accordance with paragraph (b) of this Section. 

(b) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by
telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, (ii) in the case
of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City
time, on the date of prepayment. Each such 

  
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notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is
given in connection with a conditional notice of termination of the Revolving Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with
Section 2.09. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would
be permitted in the case of an advance of a Borrowing of the same Type and Class as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the applicable Loans included in the prepaid Borrowing. Prepayments shall
be accompanied by accrued interest to the extent required by Section 2.13. Any portion of the Term Loan that is prepaid may not be reborrowed. 
 SECTION 2.12. Fees. (a) From the Last Day of the Delayed Draw Period until the earlier of the Debt Rating Pricing Election Date and the last day of the Availability Period, the Borrower agrees
to pay to the Administrative Agent, for the account of each Revolving Lender, a commitment fee, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such Revolving Lender during the period for
which payment is made, payable quarterly in arrears on each last day of each March, June, September and December of each year end on the date on which the Commitments terminate, commencing on the first such date to occur after the Last Day of the
Delayed Draw Period. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(b) From and after the Debt Rating Pricing Election Date, the Borrower agrees to pay to the Administrative Agent for the account of each
Revolving Lender a facility fee, which shall accrue at the Facility Fee Rate (as set forth in the definition of Applicable Rate) on the daily amount of the Revolving Commitment of such Lender (whether used or unused) during the period from and
including the Debt Rating Pricing Election Date to but excluding the date on which such Commitment terminates; provided that, if such Revolving Lender continues to have any Revolving Credit Exposure after its Revolving Commitment terminates,
then such facility fee shall continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its Revolving Commitment terminates to but excluding the date on which such Lender ceases to
have any Revolving Credit Exposure. Accrued facility fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date
to occur after the date hereof; provided that any facility fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. All facility fees shall be computed on the basis of a year of 360 days and shall
be payable for the actual number of days elapsed (including the first day but excluding the last day). 
 (c) The Borrower
agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest
rate applicable to Eurodollar Revolving Loans on the average daily amount of such Revolving Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Last Day of
the Delayed Draw Period to but excluding the 

  
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later of the date on which such Lender’s Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee,
which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Last Day of the Delayed Draw Period to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing
Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June,
September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to occur after the Last Day of the Delayed Draw Period; provided that all such fees shall be payable on
the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall
be payable within ten (10) days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the
last day). 
 (d) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and
at the times separately agreed upon between the Borrower and the Administrative Agent. 
 (e) All fees payable hereunder shall
be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of facility fees and participation fees, to the applicable Lenders. Fees
paid shall not be refundable under any circumstances. 
 SECTION 2.13. Interest. (a) The Loans comprising each
ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 

(b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Rate. 
 (c) Notwithstanding the foregoing, if an Event of Default under
Section 7.01(a), (b), (h) or (i) has occurred and is continuing, all overdue Obligations (which shall include all Obligations following an acceleration under Section 7.01, including an automatic acceleration) shall bear interest,
after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or
(ii) in the case of any other amount, 2% plus the rate applicable to ABR Revolving Loans as provided in paragraph (a) of this Section. 
 (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Revolving Commitments;
provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan
prior to the end of the Availability Period), accrued 

  
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interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the
end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
 (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the
Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base
Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent in accordance with the terms hereof, and such determination shall be conclusive absent manifest error. 

SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and
reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or 
 (b) the Administrative Agent is advised by the Required Facility Lenders under a particular Facility that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not
adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing under such Facility for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the
Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing under such Facility to, or continuation of any Borrowing under such
Facility as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a Eurodollar Borrowing under such Facility, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances
giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. 
 SECTION
2.15. Increased Costs. (a) If any Change in Law shall: 
 (i) impose, modify or deem applicable any
reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or other assessment) against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such
reserve requirement reflected in the Adjusted LIBO Rate) or the Issuing Bank; 
 (ii) impose on any Lender or the
Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; or 

  
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 (iii) subject any Recipient to any Taxes (other than (A) Indemnified
Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits,
reserves, other liabilities or capital attributable thereto; 
 and the result of any of the foregoing shall be to increase the cost to such
Lender or such other Recipient of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender, the Issuing Bank or such other Recipient of participating in, issuing or
maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender, the Issuing Bank or such other Recipient hereunder (whether of principal, interest or otherwise), in each case in an amount that such Lender,
the Issuing Bank or such other Recipient deems to be material, then the Borrower will pay to such Lender, the Issuing Bank or such other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, the Issuing
Bank or such other Recipient, as the case may be, for such additional costs incurred or reduction suffered. 
 (b) If any Lender
or the Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such
Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level
below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and
the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrower will pay to such Lender or the Issuing Bank, as the case may be, such additional
amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered; provided that such Lender or such Issuing Bank is generally seeking
compensation from similarly situated borrowers under similar credit facilities (to the extent such Lender or Issuing Bank has the right under such similar credit facilities to do so) with respect to such Change in Law regarding capital or liquidity
requirements. 
 (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts necessary to compensate
such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 30 days after receipt thereof. 
 (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right
to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that
such Lender or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim

  
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compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall
be extended to include the period of retroactive effect thereof. 
 SECTION 2.16. Break Funding Payments. In the event of
(a) the payment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last
day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under
Section 2.11(b) and is revoked in accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to
Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event (excluding loss of anticipated profits); provided that each such Lender shall use reasonable
efforts to mitigate any such loss, cost and expense in accordance with Section 2.19. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if
any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to
the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue
on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A
certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section, including, if requested by the Borrower, in reasonable detail a description of the basis for such compensation and a
calculation of such amount or amounts (but excluding any confidential or proprietary information of such Lender), shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown
as due on any such certificate within thirty (30) days after receipt thereof. 
 SECTION 2.17. Payments Free of
Taxes. (a) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as
determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable withholding agent shall be entitled to make such deduction
or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be
increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.17) the applicable Recipient receives an amount equal to the
sum it would have received had no such deduction or withholding been made. 

  
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 (b) Payment of Other Taxes by the Borrower. The Loan Parties shall timely pay to the
relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes. 
 (c) Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 2.17, such Loan Party shall deliver to the
Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the
Administrative Agent. 
 (d) Indemnification by the Borrower. The Loan Parties shall indemnify each Recipient, within 10
days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or
deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. 
 (e) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10
days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the
obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes
attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby
authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the
Administrative Agent under this paragraph (e). 
 (f) Status of Lenders. (i) Any Lender that is entitled to an
exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent,
such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if
reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the

  
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completion, execution and submission of such documentation (other than such documentation set forth in Section 2.17(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the
Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person, 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such
Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal
backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower
and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1) in the case of a
Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or
reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or
reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 
 (2) executed originals of IRS Form W-8ECI; 
 (3) in the case of a
Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit C-1 to the effect that such Foreign Lender is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or 
 (4) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in
the form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect
partners of such Foreign Lender are 

  
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claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit C-4 on behalf of each such direct and
indirect partner; 
 (C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and
the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of
the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 
 (D) if a payment made to a Lender under any Loan Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements
of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably
requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or
the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine
the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it
shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 
 (g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to
this Section 2.17 (including by the payment of additional amounts pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this
Section 2.17 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g) in no event will the indemnified party
be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net 

  
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after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes
that it deems confidential) to the indemnifying party or any other Person. 
 (h) Survival. Each party’s obligations
under this Section 2.17 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of
all obligations under any Loan Document. 
 (i) Defined Terms. For purposes of this Section 2.17, the term
“Lender” includes any Issuing Bank and the term “applicable law” includes FATCA. 
 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or
reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without set off or counterclaim (but
without prejudice to the Borrower’s rights with respect to any Defaulting Lender). Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices at 270 Park Avenue, New York, New York, except payments to be made directly to the Issuing Bank or Swingline Lender
as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the
account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and,
in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. Each payment (including each prepayment) by the Borrower on account of principal of
and interest on the Term Loans shall be made pro rata according to the respective outstanding principal amounts of the Term Loans then held by the Term Loan Lenders. Each payment (including each prepayment) by the Borrower on account
of principal of and interest on the Revolving Loans shall be made pro rata according to the respective Revolving Percentages of the Revolving Lenders. 
 (b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder,
such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second,
towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 

  
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 (c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and
participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the
Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Loans and participations in LC Disbursements and Swingline Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant
to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or
participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of the Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received notice
from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such
payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from
and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation. 
 (e) If any Lender shall fail to make any payment required to be made by it pursuant
to Section 2.05(c), Section 2.06(d), Section 2.06(e), Section 2.07(b), Section 2.18(d) or Section 9.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, apply
any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold such amounts in a
segregated account over which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future funding obligations of such Lender under any such Section, in the case of each of clause (i) and
(ii) above, in any order as determined by the Administrative Agent in its discretion. 

  
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 SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such
Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such
Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Sections 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) If (w) any Lender requests compensation under Section 2.15, or (x) if the Borrower is required to pay any Indemnified
Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or (y) if any Lender becomes Defaulting Lender, or (z) any Lender has refused to consent to any proposed
amendment, modification, waiver, termination or consent with respect to any provision of this Agreement or any other Loan Document that, pursuant to Section 9.02, requires the consent of all Lenders or each Lender affected thereby and with
respect to which Lenders constituting the Required Lenders have consented to such proposed amendment, modification, waiver, termination or consent, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights (other than its existing rights to payments pursuant to
Sections 2.15 or 2.17) and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received
the prior written consent of the Administrative Agent (and if a Revolving Commitment is being assigned, the Issuing Bank and the Swingline Lender) if such assignee is not a Lender, which consent shall not unreasonably be withheld, (ii) subject
to the Borrower’s rights with respect to Defaulting Lenders under Section 2.20 hereof, such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and
Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts),
(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in or elimination of such
compensation or payments, and (iv) in the case of any such assignment resulting from a Lender’s refusal to consent to a proposed amendment, modification, waiver, termination or consent, the assignee shall approve the proposed amendment,
modification, waiver, termination or consent. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such
assignment and delegation cease to apply. 

  
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 SECTION 2.20. Defaulting Lenders. 

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 (a) commitment fees shall cease to accrue on the unfunded
portion of the Revolving Commitment of such Defaulting Lender pursuant to Section 2.12(a) and facility fees shall cease to accrue on the Revolving Commitment of such Defaulting Lender pursuant to Section 2.12(b); 

(b) the Commitments, Term Loan Exposure and Revolving Credit Exposure of such Defaulting Lender shall not be included in determining
whether the Required Lenders or the Required Facility Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 9.02); provided, that this clause (b) shall
not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the consent of such Lender or each Lender affected thereby except (i) such Defaulting Lender’s Commitments may not be
increased or extended without its consent and (ii) the principal amount of, or interest or fees payable on, Loans or LC Disbursements may not be reduced or excused or the scheduled date of payment may not be postponed as to such Defaulting
Lender without such Defaulting Lender’s consent; 
 (c) if any Swingline Exposure or LC Exposure exists at the time such
Lender becomes a Defaulting Lender then: 
 (i) all or any part of the Swingline Exposure and LC Exposure of such
Defaulting Lender shall be reallocated among the non-Defaulting Lenders that are Revolving Lenders in accordance with their respective Revolving Percentages but only to the extent that (x) the sum of all such non-Defaulting Lenders’
Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting Lenders’ Revolving Commitments and (y) the conditions set forth in Section 4.02(a) and
(b) are satisfied at such time; 
 (ii) if the reallocation described in clause (i) above cannot, or
can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize for the benefit of the Issuing Bank only
the Borrower’s obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(j) for so
long as such LC Exposure is outstanding; 
 (iii) if the Borrower cash collateralizes any portion of such
Defaulting Lender’s LC Exposure pursuant to clause (ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.12(c) with respect to such Defaulting Lender’s LC Exposure during
the period such Defaulting Lender’s LC Exposure is cash collateralized; 
 (iv) if the LC Exposure of the
non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to Section 2.12(a) and Section 2.12(c) shall be adjusted in accordance with such non-Defaulting Lenders’ Revolving
Percentages; and 

  
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 (v) if all or any portion of such Defaulting Lender’s LC Exposure is
neither reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all facility fees payable under Section 2.12(b)
that otherwise would have been payable to such Defaulting Lender (solely with respect to the portion of such Defaulting Lender’s Revolving Commitment that was utilized by such LC Exposure) and letter of credit fees payable under
Section 2.12(c) with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and 

(d) so long as such Revolving Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan and
the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Revolving Commitments
of the non-Defaulting Lenders and/or cash collateral will be provided by the Borrower in accordance with Section 2.20(c), and participating interests in any newly made Swingline Loan or any newly issued or increased Letter of Credit shall be
allocated among non-Defaulting Lenders in a manner consistent with Section 2.20(c)(i) (and such Defaulting Lender shall not participate therein). 
 If (i) a Bankruptcy Event with respect to a Lender Parent shall occur following the date hereof and for so long as such event shall continue or (ii) the Swingline Lender or the Issuing Bank has
a good faith belief that any Revolving Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend credit, the Swingline Lender shall not be required to fund any Swingline Loan and the
Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless the Swingline Lender or the Issuing Bank, as the case may be, shall have entered into arrangements with the Borrower or such Lender, satisfactory to the
Swingline Lender or the Issuing Bank, as the case may be, to defease any risk to it in respect of such Lender hereunder. 
 In
the event that the Administrative Agent, the Borrower, the Swingline Lender and the Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure
and LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Revolving Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the
Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Revolving Percentage. 
 SECTION 2.21. Extension of Revolving Maturity Date. The Borrower shall have one (1) option (which shall be binding on the Lenders), exercisable by written notice to the Administrative Agent
given no more than 120 days nor less than 30 days prior to the then Revolving Maturity Date, to extend the Revolving Maturity Date for a period of one (1) year. Upon delivery of such notice, the Revolving Maturity Date shall be extended for one
(1) year so long as the following conditions are satisfied as of the effective date of such extension: (i) no 

  
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Default or Event of Default has occurred and is continuing; (ii) the representations and warranties made or deemed made by the Borrower in any Loan Document shall be true and correct in all
material respects except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such
earlier date); and (iii) the Borrower shall have paid an extension fee equal to 0.15% of the aggregate outstanding amount of the Revolving Commitments (to the Administrative Agent for the ratable benefit of the Revolving Lenders). 

ARTICLE III 

Representations and Warranties 
 The Borrower represents and warrants to the Lenders that: 
 SECTION 3.01.
Organization; Powers. Each of the Parent Guarantors and each of the Borrower and its Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and
authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, is qualified to do business in, and is in good standing
in, every jurisdiction where such qualification is required. 
 SECTION 3.02. Authorization; Enforceability. The
Transactions are within each Loan Party’s corporate, partnership, limited liability company or other organizational powers and have been duly authorized by all necessary corporate, partnership, limited liability company or other organizational
action. Each of this Agreement and the other Loan Documents to which a Loan Party is a party has been duly executed and delivered by such Loan Party and constitutes a legal, valid and binding obligation of such Loan Party, enforceable against such
Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law. 
 SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do
not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (b) will not violate any applicable law or
regulation or the charter, by-laws or other organizational documents of the Borrower or any of its Subsidiaries or the Parent Guarantors or any order of any Governmental Authority, except for any violation of any applicable law or regulation that
would not reasonably be expected to have a Material Adverse Effect, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or any of its Subsidiaries or the Parent Guarantors or
their assets, or give rise to a right thereunder to require any payment to be made by the Borrower or any of its Subsidiaries or the Parent Guarantors, except for any violation or default that would not reasonably be expected to have a Material
Adverse Effect, and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries or the Parent Guarantors. 

  
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 SECTION 3.04. Financial Condition; No Material Adverse Change. (a) The Borrower
has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, retained earnings and cash flows (i) as of and for the fiscal year ended December 31, 2012, audited by Ernst & Young, independent
public accountants, and (ii) as of and for the fiscal quarter and the portion of the fiscal year ended March 31, 2013, certified by a Financial Officer. Such financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the
statements referred to in clause (ii) above. 
 (b) Since December 31, 2012, no event, development or circumstance has
occurred which has had, or would reasonably be expected to have, a Material Adverse Effect. 
 SECTION 3.05. Properties.
(a) Each of the Borrower and its Subsidiaries and the Parent Guarantors has good title to, or valid leasehold interests in, all its real and personal property material to its business, except (i) in the case of Permitted Encumbrances or
(ii) where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Each of the assets included as Unencumbered Assets for purposes of the Financial Covenants satisfies the requirements for an Unencumbered Asset
set forth in the definition thereof. As of the Effective Date, Schedule 3.05 sets forth a list of the Unencumbered Assets and whether such Unencumbered Asset is subject to an Eligible Ground Lease. 

(b) Each of the Borrower and its Subsidiaries and the Parent Guarantors owns, or is licensed to use, all trademarks, tradenames,
copyrights, patents and other intellectual property material to its business, and the use thereof by the Borrower and its Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in
the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.06. Litigation, Guarantee
Obligations, and Environmental Matters. (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against the Borrower or any of its
Subsidiaries or any Parent Guarantor (i) as to which there is a reasonable likelihood of an adverse determination and that, if adversely determined, would reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect (other than the Disclosed Matters and matters fully covered by insurance as to which the insurer has been notified of such action, suit or proceeding and has not issued a notice denying coverage thereof) or (ii) challenging the validity
or enforceability of this Agreement, the other Loan Documents or the Transactions. As of the date of this Agreement, the Borrower and its Subsidiaries and the Parent Guarantors have no material contingent obligations that are not disclosed in the
financial statements referred to in Section 3.04 or listed as a Disclosed Matter. 
 (b) Except for the Disclosed Matters
and except with respect to any other matters that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries or any Parent Guarantor (i) has failed to
comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) is subject to any Environmental Liability of which it is aware, (iii) has received
written notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability. 

  
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 SECTION 3.07. Compliance with Laws and Agreements. Each of the Borrower and its
Subsidiaries and the Parent Guarantors is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except
where the failure to do so, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing. 
 SECTION 3.08. Investment Company Status. Neither the Borrower nor any of its Subsidiaries nor any Parent Guarantor is an “investment company” as defined in, or subject to regulation
under, the Investment Company Act of 1940. 
 SECTION 3.09. Taxes. Each of the Borrower and its Subsidiaries and the
Parent Guarantors has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good
faith by appropriate proceedings and for which the Borrower or such Subsidiary or such Parent Guarantor, as applicable, has set aside on its books adequate reserves in conformity with GAAP or (b) to the extent that the failure to do so would
not reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.10. ERISA. No ERISA Event has occurred or is
reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to have a Material Adverse Effect. The present value of all accumulated benefit
obligations under each Plan (based on the assumptions used for purposes of ASC 715-30 (formerly Statement of Financial Accounting Standards No. 87)) did not, as of the date of the most recent financial statements reflecting such amounts, exceed
by more than $50,000,000 the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of ASC 715-30 (formerly Statement of
Financial Accounting Standards No. 87)) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $50,000,000 the fair market value of the assets of all such underfunded Plans. 

SECTION 3.11. Disclosure. None of the reports, financial statements, certificates or other written information furnished by or on
behalf of the Borrower to the Administrative Agent or any Lender in connection with this Agreement or delivered hereunder (as modified or supplemented by other written information so furnished) contains any material misstatement of fact or omits to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that
such information was prepared in good faith based upon assumptions believed to be reasonable at the time prepared. 

  
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 SECTION 3.12. Sanctions Laws and Regulations. None of the Borrower or its
Subsidiaries or any Parent Guarantor, or to the best of its knowledge any of its directors or officers acting or benefiting in any capacity in connection with this Agreement, is a Designated Person. 

SECTION 3.13. Federal Reserve Board Regulations. None of the Loan Parties is engaged or will engage, principally or as one of its
important activities, in the business of extending credit for the purposes of “purchasing” or “carrying” any “Margin Stock” within the respective meanings of such terms under Regulations U, T and X of the Board. No part
of the proceeds of the Loans will be used for “purchasing” or “carrying” “Margin Stock” as so defined for any purpose which violates, or which would be inconsistent with, the provisions of, any applicable laws or
regulations of any Governmental Authority (including, without limitation, the Regulations of the Board). 
 SECTION 3.14.
Subsidiaries. As of the Effective Date, (a) Schedule 3.14 sets forth the name and jurisdiction of incorporation of each material Subsidiary and material Investment Affiliate of the Borrower and (b) except as disclosed on
Schedule 3.14, there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments of any nature relating to any Equity Interests owned by the Borrower or any Subsidiary in any Subsidiary or Investment
Affiliate. 
 SECTION 3.15. Solvency. The Borrower and its Subsidiaries, on a consolidated basis, are, and after giving
effect to the incurrence of all Loans and Obligations being incurred in connection herewith will be, Solvent. 
 SECTION 3.16.
Status of the Limited Partner. The Limited Partner (i) is a REIT, (ii) has not revoked its election to be a REIT, (iii) has not engaged in any “prohibited transactions” as defined in Section 857(b)(6)(B)(iii) of
the Code (or any successor provision thereto), and (iv) for its current “tax year” (as defined in the Code) is, and for all prior tax years subsequent to its election to be a real estate investment trust has been, entitled to a
dividends paid deduction which meets the requirements of Section 857(a) of the Code. 
 SECTION 3.17. Insurance. The
Borrower and its Subsidiaries maintain (either directly or indirectly by causing its tenants to maintain) insurance on their material real estate assets with financially sound and reputable insurance companies (or through self insurance provisions),
in such amounts, with such deductibles and covering such properties and risks as is prudent in the reasonable business judgment of the Borrower and its Subsidiaries. 
 ARTICLE IV 
 Conditions 

SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit
hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 
 (a) The Administrative Agent (or its counsel) shall have received from each party thereto either (i) a counterpart of this Agreement and each other Loan Document signed on behalf of

  
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such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement or such Loan Document) that
such party has signed a counterpart of this Agreement or such Loan Document. 
 (b) The Administrative Agent shall have received
a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Jones Day, counsel for the Borrower and the other Loan Parties, in form and substance reasonably acceptable to the Administrative
Agent. The Borrower hereby requests such counsel to deliver such opinion. 
 (c) The Administrative Agent shall have received
the following items from the Borrower: 
 (i) Certificates of good standing for each Loan Party from the states of organization
of such Loan Party, certified by the appropriate governmental officer and dated not more than thirty (30) days prior to the Effective Date; 
 (ii) Copies of the formation documents of each Loan Party certified by an officer of such Loan Party, together with all amendments thereto; 

(iii) Incumbency certificates, executed by officers of each Loan Party, which shall identify by name and title and bear the signature of
the Persons authorized to sign the Loan Documents on behalf of such Loan Party (and to make borrowings hereunder on behalf of the Borrower, in the case of the Borrower), upon which certificate the Administrative Agent and the Lenders shall be
entitled to rely until informed of any change in writing by the Borrower; 
 (iv) Copies, certified by a Secretary or an
Assistant Secretary of each Loan Party of the resolutions (and resolutions of other bodies, if any are reasonably deemed necessary by counsel for the Administrative Agent) authorizing the Borrowings provided for herein, with respect to the Borrower,
and the execution, delivery and performance of the Loan Documents to be executed and delivered by the Loan Parties; 
 (v) The
most recent annual audited and quarterly unaudited financial statements of the Borrower; 
 (vi) UCC financing statement,
judgment, and tax lien searches with respect to each Loan Party from its state of organization; 
 (vii) If a Borrowing is to be
made on the Effective Date, written money transfer instructions in form and substance reasonably acceptable to the Administrative Agent, addressed to the Administrative Agent and signed by an officer of the Borrower, together with such other related
money transfer authorizations as the Administrative Agent may have reasonably requested; and 
 (viii) Compliance certificate
substantially in the form of Exhibit B, executed by a Financial Officer, demonstrating compliance with the Financial Covenants on a pro-forma basis as of the Effective Date based on the financial statements for the

  
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fiscal quarter ending March 31, 2013 and after giving effect to the Transactions (assuming a borrowing of all amounts intended to be borrowed through and including the Last Day of the
Delayed Draw Period and the application of proceeds of such borrowings to the repayment of Indebtedness intended to be repaid therefrom). 
 (d) The Administrative Agent shall have received all fees (including upfront fees payable to the Lenders) and other amounts due and payable on or prior to the Effective Date, including, to the extent
invoiced at least two (2) Business Days prior to the Effective Date, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Borrower hereunder, or satisfactory evidence that such fees and amounts will be
paid out of the initial Borrowing hereunder. 
 (e) The Administrative Agent and the Lenders shall have received all
documentation and other information about the Loan Parties as shall have been reasonably requested by the Administrative Agent or such Lender that it shall have reasonably determined is required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including without limitation, the USA Patriot Act. 
 Immediately upon the
satisfaction of the foregoing conditions precedent, the Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the
Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 9.02) at or prior to 3:00 p.m., New York City
time, on August 1, 2013 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time). 
 SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is
subject to the satisfaction of the following conditions: 
 (a) The representations and warranties of the Borrower set forth in
this Agreement shall be true and correct in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable (except to the extent that any such
representation and warranty expressly relates to an earlier date, in which case such representation and warranty shall be true and correct in all material respects as of such earlier date). 

(b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter
of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. 
 Each Borrowing and each issuance, amendment,
renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section. 

  
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 ARTICLE V 
 Affirmative Covenants 
 Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees and other Obligations payable hereunder shall have been paid in full (other than indemnities and other contingent obligations not then due and payable and as to which no claim
has been made) and all Letters of Credit shall have expired or terminated (or have been cash collateralized in accordance with Section 2.06), in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, the
Borrower covenants and agrees with the Lenders that: 
 SECTION 5.01. Financial Statements; Ratings Change and Other
Information. The Borrower will furnish to the Administrative Agent (and the Administrative Agent will promptly furnish the same to each Lender): 
 (a) within 90 days after the end of each fiscal year of the Borrower, its audited consolidated balance sheet and related statements of income, retained earnings and cash flows as of the end of and for
such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Ernst & Young or other independent public accountants of recognized national standing (without a “going
concern” or like qualification, commentary or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial
condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 
 (b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower, its unaudited consolidated balance sheet and related unaudited statements of income
retained earnings and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of
the balance sheet, as of the end of) the previous fiscal year, all certified by a Financial Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on
a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 
 (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a compliance certificate in the form attached hereto as Exhibit B, signed by a Financial Officer
(i) (x) certifying that, to such Financial Officer’s knowledge, no Default has occurred and is continuing, or (y) specifying the details of any Default that, to such Financial Officer’s knowledge, has occurred and is continuing,
and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations and computations demonstrating compliance with the applicable Financial Covenants including, without limitation, (x) a
listing of the Unencumbered Assets (including any Brixmor LLC Unencumbered Assets and Inland Unencumbered Assets, to the extent included in such calculations and computations), any new Eligible Ground Leases entered into during such quarter, and the
Net Operating Income for each of the Unencumbered Assets and (y) schedules of Inland Indebtedness, Brixmor LLC 

  
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Indebtedness, Additional Brixmor LLC Indebtedness, and Additional Subsidiary Indebtedness, to the extent included in such calculations and computations, and (iii) stating whether any change
in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements
accompanying such certificate; 
 (d) after the occurrence of a Qualified IPO, a Public Company Exit or an Approved M&A
Transaction, promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by the Borrower or any Subsidiary or any applicable Parent Entity with the Securities and Exchange
Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, and/or distributed by the Borrower or such Parent Entity to its shareholders generally, as the case may
be; 
 (e) after the occurrence of the Debt Rating Pricing Election Date, promptly after Moody’s or S&P shall have
announced a change in the rating established or deemed to have been established for the Index Debt, written notice of such rating change; and 
 (f) promptly following any request therefor, such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of
this Agreement, as the Administrative Agent or any Lender may reasonably request. 
 After the occurrence of a Qualified IPO, a Public Company
Exit or an Approved M&A Transaction, information required to be delivered pursuant to clause (a), (b) or (d) of this Section shall be deemed to have been delivered if such information, or one or more annual or quarterly reports
containing such information, shall be available on the website of the SEC at http://www.sec.gov. Information required to be delivered pursuant to this Section may also be delivered by electronic communications pursuant to procedures approved by the
Administrative Agent. 
 SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Administrative Agent
(and the Administrative Agent will promptly furnish the same to each Lender) prompt written notice, after an Authorized Officer becomes aware of such event, of the following events: 

(a) the occurrence of any Default or Event of Default; 
 (b) the filing or commencement of any action, suit, investigation or proceeding by or before any arbitrator or Governmental Authority against or affecting the Parent Guarantors, the Borrower or any
Subsidiary that, in the good faith judgment of the Borrower, if adversely determined, would reasonably be expected to have a Material Adverse Effect; 
 (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, would reasonably be expected to result in liability of the Borrower and its Subsidiaries in an
aggregate amount exceeding $50,000,000; and 
 (d) any Environmental Liability that, in the good faith judgment of the Borrower,
has, or would reasonably be expected to have, a Material Adverse Effect. 

  
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 Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or
other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence; Conduct of Business; REIT Status. The Borrower will, and will cause each of its Subsidiaries and the
Parent Guarantors to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business;
provided that the foregoing shall not prohibit any Qualified IPO, Public Company Exit or Approved M&A Transaction; and provided further that this Section 5.03 shall not require the Borrower, any Subsidiary or any Parent
Guarantor to preserve or maintain any rights, licenses, permits, privileges or franchises if the Borrower shall reasonably determine that (a) the preservation and maintenance thereof is no longer desirable in the conduct of the business of the
Borrower, the Subsidiaries and the Parent Guarantors, taken as a whole, and that the loss thereof is not disadvantageous in any material respect to the Lenders, or (b) the failure to maintain and preserve the same by any Subsidiary would not
reasonably be expected, in the aggregate, to have a Material Adverse Effect. The Borrower shall cause the Limited Partner to maintain its REIT status under the Code. The Borrower shall cause the Limited Partner and the General Partner to own
substantially all of their properties and assets and shall conduct substantially all of their business activities through the Borrower. 
 SECTION 5.04. Payment of Obligations. The Borrower will, and will cause each of its Subsidiaries and the Parent Guarantors to, pay its obligations, including Tax liabilities, that, if not paid,
could result in a Material Adverse Effect before the same shall become delinquent or in default, except where (i) (a) the validity or amount thereof is being contested in good faith by appropriate proceedings and (b) the Borrower or
such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP, or (ii) the failure to make payment pending such contest would not reasonably be expected to have a Material Adverse Effect. 

SECTION 5.05. Maintenance of Properties; Insurance. The Borrower will, and will cause each of its Subsidiaries and the Parent
Guarantors to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, except to the extent any failure to do so would not reasonably be expected to have a
Material Adverse Effect, and (b) maintain (either directly or indirectly by causing its tenants to maintain), with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily
maintained by companies engaged in the same or similar businesses operating in the same or similar locations. 
 SECTION 5.06.
Books and Records; Inspection Rights. The Borrower will, and will cause each of its Subsidiaries and the Parent Guarantors to, keep proper books of record and account in which true and correct entries in all material respects are made of all
dealings and transactions in relation to its business and activities to the extent required by GAAP. The 

  
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Borrower will, and will cause each of its Subsidiaries and the Parent Guarantors to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice,
to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants (in the presence of an officer of the Borrower), all at
such reasonable times during normal business hours and as often as reasonably requested. Absent an Event of Default, only two such visits per calendar year shall be at the Borrower’s expense. 

SECTION 5.07. Compliance with Laws. The Borrower will, and will cause each of its Subsidiaries and the Parent Guarantors to,
comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, including Environmental Laws, except where the failure to do so, individually or in the aggregate, would not reasonably be expected
to have a Material Adverse Effect. 
 SECTION 5.08. Use of Proceeds and Letters of Credit. The proceeds of the Loans will
be used only for, and Letters of Credit will be issued only to support, (i) the repayment of existing Indebtedness of the Borrower and its Subsidiaries and (ii) general corporate purposes of the Borrower, including, but not limited to, the
funding of acquisitions, investments, redevelopments, expansions, renovations, construction, capital expenditures and working capital needs. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that
entails a violation of any of the Regulations of the Board, including Regulations T, U and X. 
 SECTION 5.09. [Reserved]

 SECTION 5.10. Addition and Release of Guaranties. 

(a) Additional Subsidiary Guaranties. If (x) the Borrower does not have an Investment Grade Rating and (y) one or more
direct or indirect Subsidiaries of the Borrower (other than Brixmor LLC or any direct or indirect subsidiary thereof) that owns or ground leases any Excluded Unencumbered Assets incurs any Additional Subsidiary Indebtedness, then, at the option of
the Borrower, either (1) each borrower or guarantor of such Indebtedness shall become an Additional Subsidiary Guarantor hereunder or (2) (i) such Additional Subsidiary Indebtedness shall be treated as Secured Indebtedness for
purposes of calculating the Financial Covenants and (ii) any Acquisition Asset, Land, Operating Property or Asset Under Development owned directly or indirectly by each borrower or guarantor of such Additional Subsidiary Indebtedness shall not
be considered an “Unencumbered Asset” for purposes of calculating the Financial Covenants (any such Unencumbered Assets so excluded shall be referred to in this Agreement collectively as “Excluded Unencumbered
Assets”). Upon a subsequent Investment Grade Rating Event, and so long as the Borrower maintains an Investment Grade Rating and no Event of Default then exists, the Subsidiary Guaranty of any such Additional Subsidiary Guarantor will be
released (and, for the avoidance of doubt, such Subsidiary Guaranty shall be promptly reinstated in a manner satisfactory to the Administrative Agent if the Borrower has failed to maintain an Investment Grade Rating and such Subsidiary Guaranty is
otherwise required by this Section 5.10(a)), any such Additional Subsidiary Indebtedness will no longer be treated as Secured Indebtedness and each such Excluded Unencumbered Asset will be eligible to be treated as an “Unencumbered
Asset” for purposes of calculating the Financial Covenants. 

  
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 (b) Brixmor LLC Guaranty. If (x) the Borrower does not have an Investment Grade
Rating, (y) Brixmor LLC or any direct or indirect subsidiary thereof that owns or ground leases a Brixmor LLC Unencumbered Asset (a “Brixmor LLC Subsidiary”) incurs any Additional Brixmor LLC Indebtedness, and
(z) the Borrower has made the Brixmor LLC Election while the Initial Financial Covenants are applicable, then, at the option of the Borrower, either (1) Brixmor LLC (only to the extent that Brixmor LLC is a borrower or guarantor of such
Additional Brixmor LLC Indebtedness) or such Brixmor LLC Subsidiary thereof that is a borrower or guarantor on such Additional Brixmor LLC Indebtedness shall provide a Subsidiary Guaranty hereunder or (2) (i) such Additional Brixmor LLC
Indebtedness shall be treated as Secured Indebtedness for purposes of calculating the Initial Financial Covenants subject to the Brixmor LLC Election and (ii) any Acquisition Asset, Land, Operating Property or Asset Under Development owned
directly or indirectly by Brixmor LLC or such Brixmor LLC Subsidiary that is the borrower or guarantor of such Additional Brixmor LLC Indebtedness shall not be considered a “Brixmor LLC Unencumbered Asset” for purposes of the Financial
Covenants. Upon a subsequent Investment Grade Rating Event, and so long as the Borrower maintains an Investment Grade Rating and no Event of Default then exists, any such Subsidiary Guaranty will be released (and, for the avoidance of doubt, such
Subsidiary Guaranty shall be promptly reinstated in a manner satisfactory to the Administrative Agent if the Borrower has failed to maintain an Investment Grade Rating and such Subsidiary Guaranty is otherwise required by this Section 5.10(b)),
any such Additional Brixmor LLC Indebtedness will no longer be treated as Secured Indebtedness and any such Acquisition Asset, Land, Operating Property or Asset Under Development will be eligible to be treated as a “Brixmor LLC Unencumbered
Asset” for purposes of the Financial Covenants. 
 (c) Release of Subsidiary Guaranties from Material Subsidiary
Guarantors. The Subsidiary Guaranty provided by each Material Subsidiary Guarantor shall be automatically terminated upon the occurrence of any of the following, so long as no Event of Default has occurred and is continuing at such time:

 (i) the Public Company Financial Covenant Election Date has occurred; 

(ii) an Investment Grade Rating Event has occurred (and regardless of whether the Borrower thereafter fails to maintain such Investment
Grade Rating); or 
 (iii) the Borrower has issued corporate bonds in the principal amount of at least $200,000,000 that rank
pari passu with the Obligations (whether new or in exchange for the Brixmor LLC Indebtedness) and such corporate bonds are not guaranteed by the Material Subsidiary Guarantors. 

(d) Instruments of Release. The Administrative Agent shall, at the request and expense of the Borrower and without the need for
any consent or approval by the Lenders, execute and deliver an instrument of release to evidence any release of Guaranty described in this Section 5.10 in a form reasonably acceptable to the Borrower and the Administrative Agent. 

  
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 ARTICLE VI 
 Negative Covenants 
 Until the Commitments have expired or terminated and
the principal of and interest on each Loan and all fees and other Obligations payable hereunder have been paid in full (other than indemnities and other contingent obligations not then due and payable and as to which no claim has been made) and all
Letters of Credit shall have expired or terminated (or have been cash collateralized in accordance with Section 2.06), in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, the Borrower covenants and
agrees with the Lenders that: 
 SECTION 6.01. Financial Covenants. 

(a) Initial Financial Covenants. From the Effective Date until the Public Company Financial Covenant Election Date, as of the last
day of any fiscal quarter of the Borrower, commencing with the fiscal quarter ended September 30, 2013, the Borrower shall not permit: 
 (i) Maximum Leverage Ratio. Total Outstanding Indebtedness minus Balance Sheet Cash to exceed 65% of Total Asset Value. 

(ii) Maximum Secured Leverage Ratio. Total Secured Indebtedness minus Balance Sheet Cash to exceed 55% of Total Asset
Value. 
 (iii) Maximum Unsecured Leverage Ratio. The sum of (A) Total Unsecured Indebtedness (other than Brixmor
LLC Indebtedness and, if applicable, Additional Brixmor LLC Indebtedness unless, in each case, the Borrower has made the Brixmor LLC Election) plus (B) on and after the Inland Repurchase Date, Inland Indebtedness minus
(C) all Unrestricted Cash and cash from like-kind exchanges to exceed 65% of the sum of (x) Unencumbered Asset Value (other than Unencumbered Asset Value attributable to Brixmor LLC Unencumbered Assets, to the extent there is any Brixmor
LLC Indebtedness or Additional Brixmor LLC Indebtedness outstanding unless the Borrower has made the Brixmor LLC Election, in which case the Unencumbered Asset Value of the Brixmor LLC Unencumbered Assets will be included) plus (y) on
and after the Inland Repurchase Date, Inland Unencumbered Asset Value. 
 (iv) Minimum Fixed Charge Coverage Ratio. Total
Net Operating Income minus the aggregate Capital Expenditure Reserve for each Operating Property to be less than 1.5 times Fixed Charges, all based on the most recent six (6) months for which the Borrower has reported financial results
pursuant to Section 5.01, annualized. 
 (v) Minimum Tangible Net Worth. The sum of (x) Total Asset Value
plus (y) Balance Sheet Cash minus (z) Total Outstanding Indebtedness (“Tangible Net Worth”) to be less than $4,033,855,798. 

  
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 (vi) Minimum Unsecured Debt Yield Ratio. The sum of (A) the aggregate Net
Operating Income from Unencumbered Assets (other than Net Operating Income attributable to Brixmor LLC Unencumbered Assets, to the extent there is any Brixmor LLC Indebtedness or Additional Brixmor LLC Indebtedness outstanding unless the Borrower
has made the Brixmor LLC Election, in which case the Net Operating Income attributable to the Brixmor LLC Unencumbered Assets will be included) plus (B) on and after the Inland Repurchase Date, the aggregate Net Operating Income from
Inland Unencumbered Assets divided by the amount equal to the sum of (x) Total Unsecured Indebtedness (other than Brixmor LLC Indebtedness and, if applicable, Additional Brixmor LLC Indebtedness unless, in each case, the Borrower has
made the Brixmor LLC Election) plus (y) on and after the Inland Repurchase Date, Inland Indebtedness minus (z) all Unrestricted Cash and cash from like-kind exchanges, to be less than 9.5%. 

(b) Public Company Financial Covenants. From and after the Public Company Financial Covenant Election Date, as of the last day of
any fiscal quarter of the Borrower, the Borrower shall not permit: 
 (i) Maximum Leverage Ratio. Total Outstanding
Indebtedness minus Balance Sheet Cash to exceed 60% of Total Asset Value. 
 (ii) Minimum Fixed Charge Coverage
Ratio. Total Net Operating Income minus the aggregate Capital Expenditure Reserve for each Operating Property to be less than 1.5 times Fixed Charges, all based on the most recent six (6) months for which the Borrower has reported
financial results pursuant to Section 5.01, annualized. 
 (iii) Maximum Secured Leverage Ratio. Total Secured
Indebtedness minus Balance Sheet Cash to exceed 40% of Total Asset Value. 
 (iv) Maximum Unsecured Leverage
Ratio. Total Unsecured Indebtedness minus all Unrestricted Cash and cash from like-kind exchanges to exceed 60% of Unencumbered Asset Value. 
 (v) Minimum Tangible Net Worth. Tangible Net Worth to be less than $4,033,855,798; provided that the Borrower shall not be required to comply with the foregoing covenant from and after the
date that is the earlier to occur of (1) an Investment Grade Rating Event or (2) the consummation of a Qualified IPO. 

(c) Calculation of Financial Covenants. For purposes of calculating the Financial Covenants under this Agreement: 

(i) for any period, the Financial Covenants shall be calculated based upon the most recent quarter-end financial statements of the
Borrower delivered pursuant to Section 5.01, on a pro forma basis, giving effect to any asset disposition or acquisition or any incurrence, retirement or extinguishment of Indebtedness during such period, in each case, with such asset
disposition or acquisition or such incurrence, retirement or extinguishment of Indebtedness being deemed to have occurred as of the first day of the period for which such Financial Covenants are being determined; 

  
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 (ii) the Initial Financial Covenants set forth in Sections 6.01(a)(i), (ii), (iv) and
(v) and the Public Company Financial Covenants set forth in Sections 6.01(b)(i), (ii), (iii) and (v), with respect to any Investment Affiliate or any Non-Wholly-Owned Subsidiary shall be calculated in a manner such that only the Ownership
Share of the applicable Investment Affiliate or Non-Wholly-Owned Subsidiary shall be taken into account, so that the Borrower will be credited (or debited, if applicable) with its pro rata share of the appropriate components that are included in the
calculation of such Financial Covenants; and 
 (iii) notwithstanding the foregoing, (i) the Ownership Share of the Inland
Entities will be deemed to be 100% notwithstanding the fact that Residual owns less than 100% of the Inland Entities, and (ii) the Ownership Share of Excel Realty Partners, L.P. will be deemed to be 100% notwithstanding the fact that Brixmor
LLC owns less than 100% of Excel Realty Partners, L.P. 
 SECTION 6.02. Fundamental Changes. (a) The Borrower will
not, and will not permit any Subsidiary or any Parent Guarantor to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) all or substantially all of their consolidated assets (including all or substantially all of the Equity Interests in the Subsidiaries) (in each case, whether now owned or hereafter acquired), or liquidate
or dissolve; provided that, the following events shall be permitted without the consent of the Lenders: (i) any Person may merge into the Borrower or any Parent Guarantor or Parent Entity in a transaction in which the Borrower or such
Parent Guarantor or Parent Entity is the surviving corporation (or, if the Borrower or such Parent Guarantor or such Parent Entity is not the survivor, the Required Lenders have consented to such transaction), (ii) any Person may merge into any
Subsidiary in a transaction in which the surviving entity is a Subsidiary, (iii) any Subsidiary may liquidate or dissolve or sell, transfer, lease or otherwise dispose of its assets to the Borrower or to another Subsidiary, (iv) any
Subsidiary (other than a Material Subsidiary) may liquidate or dissolve or merge into, or sell, transfer, lease or otherwise dispose of its assets to, another Person if the Borrower determines in good faith that such liquidation or dissolution,
merger or disposition is in the best interests of the Borrower and is not materially disadvantageous to the Lenders, and (v) the Borrower or a Parent Entity may consummate a Qualified IPO or a Public Company Exit; and provided
further that only the approval of the Required Lenders, without the payment of any fees by the Borrower, shall be required for (x) the merger or consolidation of the Borrower or a Parent Entity into a Public Vehicle that would result in
a Change in Control or (y) an Approved M&A Transaction. 
 (b) The Borrower will not, and will not permit the Parent
Guarantors or any of its Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Parent Guarantors and the Borrower and its Subsidiaries on the Effective Date and businesses reasonably
related thereto. 

  
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 SECTION 6.03. Restricted Payments. If an Event of Default under Section 7.01(a)
or (b) has occurred and is continuing, the Borrower will not declare or make, or agree to pay or make, directly or indirectly, any Restricted Payments in excess of the minimum amount necessary under the Code for the Limited Partner to maintain
its status as a REIT and to avoid any tax under Section 4981 of the Code. 
 SECTION 6.04. Transactions with
Affiliates. The Borrower will not, and will not permit any of its Subsidiaries or the Parent Guarantor to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or
otherwise engage in any other transactions with, any of its Affiliates, except (a) upon fair and reasonable terms which are not materially less favorable to the Borrower or such Subsidiary or Parent Guarantor than could be obtained on an
arm’s-length basis from unrelated third parties, (b) transactions solely between or among Parent Guarantors, the Borrower and Wholly-Owned Subsidiaries, (c) transactions pursuant to agreements and arrangements described on Schedule
6.04, (d) the issuance of equity securities to Affiliates, (e) compensation, bonus and benefit arrangements with employees, officers, directors and trustees of the Borrower, its Subsidiaries or the Parent Guarantors that are customary
in the industry or are in the ordinary course consistent with past practices, and (f) the transfer or distribution of assets to the direct or indirect shareholders of the Limited Partner and/or the contribution of assets to the Borrower or the
Limited Partner and the issuance by the Borrower of membership units in exchange therefor, all in connection with a Qualified IPO. 
 SECTION 6.05. Sanctions Laws and Regulations. (a) The Borrower shall not, directly or indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds
to any Subsidiary, joint venture partner or other person or entity (i) to fund any activities or business of or with any Designated Person, or in any country or territory, that at the time of such funding is the subject of any sanctions under
any Sanctions Laws and Regulations , or (ii) in any other manner that would result in a violation of any Sanctions Laws and Regulations by any party to this Agreement. 
 (b) None of the funds or assets of the Borrower that are used to pay any amount due pursuant to this Agreement shall constitute funds obtained from transactions with or relating to Designated Persons or
countries which are the subject of sanctions under any Sanctions Laws and Regulations. 
 SECTION 6.06. Changes in Fiscal
Periods. Unless required by a law, regulation or order of a Governmental Authority, the Borrower will not (i) permit the fiscal year of the Borrower to end on a day other than December 31 or (ii) change the Borrower’s method
of determining fiscal quarters; provided that if such change is required by such law, regulation or order, the Borrower shall give the Administrative Agent and the Lenders prior written notice of such change. 

  
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 ARTICLE VII 
 Events of Default 
 SECTION 7.01. Events of Default. 

If any of the following events (“Events of Default”) shall occur: 

(a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and
as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 
 (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement or any other
Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days; 
 (c) any representation or warranty made or deemed made by or on behalf of the Borrower or any other Loan Party in or in connection with this Agreement and the other Loan Documents or any amendment or
modification hereof or waiver hereunder or thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement or any amendment or modification hereof or waiver hereunder or
thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 
 (d) the Borrower shall fail
to observe or perform any covenant, condition or agreement contained in Article VI; 
 (e) the Borrower shall fail to
observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue without being remedied for a period of thirty
(30) days after notice thereof from the Administrative Agent or the Required Lenders to the Borrower; 
 (f) the Borrower
or any of its Subsidiaries or any Parent Guarantor shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable and after the
expiration of all grace or cure periods (provided that the failure to pay any such Indebtedness shall not constitute a Default so long as the Borrower or its Subsidiaries or such Parent Guarantor is diligently contesting the payment of the same by
appropriate legal proceedings and the Borrower or its Subsidiaries or such Parent Guarantor have set aside, in a manner reasonably satisfactory to Administrative Agent, a sufficient reserve to repay such Indebtedness plus all accrued interest
thereon calculated at the default rate thereunder and costs of enforcement in the event of an adverse outcome); 
 (g) any event
or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (after the giving of all notices and the expiration of all grace periods) the holder or holders of any Material
Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this
clause (g) shall not apply to Material Indebtedness that is Secured Indebtedness and that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Material Indebtedness (provided that the failure to pay
any such Indebtedness shall not constitute a Default so long as the Borrower or its Subsidiaries or such 

  
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Parent Guarantor is diligently contesting the payment of the same by appropriate legal proceedings and the Borrower or its Subsidiaries or such Parent Guarantor have set aside, in a manner
reasonably satisfactory to Administrative Agent, a sufficient reserve to repay such Indebtedness plus all accrued interest thereon calculated at the default rate thereunder and costs of enforcement in the event of an adverse outcome); 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of the Borrower, a Parent Guarantor or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter
in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower, a Parent Guarantor or any Material Subsidiary or for a substantial part of its assets, and, in any such case,
such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (i) the Borrower, a Parent Guarantor or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause
(h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower, a Parent Guarantor or any Material Subsidiary or for a substantial part
of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of
effecting any of the foregoing; 
 (j) the Borrower, a Parent Guarantor or any Material Subsidiary shall become unable, admit in
writing its inability or fail generally to pay its debts as they become due; 
 (k) the Borrower, a Parent Guarantor or any
Material Subsidiary shall fail within sixty (60) days to pay, bond or otherwise discharge any judgments or orders for the payment of money (not covered by insurance as to which the insurer has been notified of such judgment or order and has not
issued a notice denying coverage thereof) in an amount which, when added to all other judgments or orders outstanding against the Borrower, a Parent Guarantor or any Material Subsidiary would exceed $50,000,000 in the aggregate, which have not been
stayed on appeal or otherwise appropriately contested in good faith; 
 (l) the Borrower or any other Loan Party shall disavow,
revoke or terminate (or attempt to terminate) any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of this
Agreement, a Guaranty or any other Loan Document; or this Agreement, a Guaranty or any other Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof); 

(m) an ERISA Event shall have occurred that, when taken together with all other ERISA Events that have occurred, could reasonably be
expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding (i) $50,000,000; or 

  
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 (n) a Change in Control shall occur, other than as a result of a Qualified IPO, Public
Company Exit or Approved M&A Transaction; 
 then, and in every such event (other than an event with respect to the Borrower described in
clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent shall, at the request of the Required Lenders, by notice to the Borrower, take either or both of the following
actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations
of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower
described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower
accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

SECTION 7.02. Distribution of Payments after Default. In the event that following the occurrence or during the continuance of any
Event of Default, the Administrative Agent or any Lender, as the case may be, receives any monies in connection with the enforcement of any the Loan Documents, such monies shall be distributed for application as follows: 

(a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent for or in respect of, all reasonable
costs, expenses, disbursements and losses which shall have been incurred or sustained by the Administrative Agent in connection with the collection of such monies by the Administrative Agent, for the exercise, protection or enforcement by the
Administrative Agent of all or any of the rights, remedies, powers and privileges of the Administrative Agent under this Agreement or any of the other Loan Documents or in support of any provision of adequate indemnity to the Administrative Agent
against any taxes or liens which by law shall have, or may have, priority over the rights of the Administrative Agent to such monies; 
 (b) Second, to pay any fees or expense reimbursements then due to the Lenders from the Loan Parties; 
 (c) Third to pay interest then due and payable on the Loans and unreimbursed LC Disbursements ratably; 
 (d) Fourth, to prepay principal on the Loans and unreimbursed LC Disbursements ratably; 
 (e) Fifth, to pay an amount to the Administrative Agent equal to one hundred two percent (102%) of the aggregate undrawn face amount of all outstanding Letters of Credit and the aggregate amount of
any unreimbursed LC Disbursements, to be held as cash collateral for such Obligations; 

  
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 (f) Sixth, to payment of any amounts owing with respect to indemnification provisions of the
Loan Documents; 
 (g) Seventh, to the payment of any other Obligation due to the Administrative Agent or any Lender; and

 (h) Eighth, to the Borrower or whoever may be legally entitled thereto. 

ARTICLE VIII 

The Administrative Agent 
 Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such
powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. 
 The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent
hereunder. 
 The Administrative Agent shall not have any duties or obligations except those expressly set forth herein. Without
limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not
have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing as directed by the Required
Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02), and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to
disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any
capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall not be deemed to have knowledge of any Default unless and until written notice thereof is given to
the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this
Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms

  
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or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other agreement, instrument or document, or (v) the satisfaction
of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 
 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing
believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur
any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by
it in accordance with the advice of any such counsel, accountants or experts. 
 The Administrative Agent may perform any and
all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, (a) the Administrative Agent may resign at any time by notifying the Lenders, the Issuing
Bank and the Borrower and (b) the Required Lenders may by written notice to the Administrative Agent and the Borrower remove the Administrative Agent for its gross negligence or willful misconduct as determined by a court of competent
jurisdiction. Upon any such resignation or removal, the Required Lenders shall have the right, subject to the consent of the Borrower (so long as no Event of Default under Section 7.01(a), (b), (h) or (i) has occurred and is
continuing at such time), to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring or removed Administrative Agent gives notice of its
resignation or is removed, then the retiring or removed Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent which shall be a Lender. Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent, and the retiring or removed Administrative Agent
shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 

  
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 Each Lender acknowledges and agrees that the extensions of credit made hereunder are
commercial loans and letters of credit and not investments in a business enterprise or securities. Each Lender further represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of its business and has,
independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to
make, acquire or hold Loans hereunder. Each Lender shall, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information (which may contain material, non-public information within the
meaning of the United States securities laws concerning the Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
related agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will continue as a lender or assign or otherwise transfer its rights, interests and obligations hereunder. 

ARTICLE IX 

Miscellaneous 
 SECTION 9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and other
communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(i) if to the Borrower, to it at 420 Lexington Avenue, New York, NY 10170, Attention of Michael Pappagallo, President and Chief
Financial Officer, and Steven Siegel, General Counsel (Telecopy No. (212) 869-9585); 
 (ii) if to the Administrative
Agent, to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 500 Stanton Christiana Road, Ops Building 2, 3rd Floor, Newark, DE 19713-2107, Attention of Taieshia Reefer (Telecopy No. (302) 634-4733), with a copy to JPMorgan Chase Bank,
N.A., 383 Madison Avenue, 24th Floor, New York, NY 10179, Attention of Mohammad S. Hasan (Telecopy No. (646) 328-3040); 

(iii) if to the Issuing Bank, to it at JPMorgan Chase Bank, N.A., 500 Stanton Christiana Road, Ops Building 2, 3rd Floor, Newark, DE
19713-2107, Attention of Taieshia Reefer (Telecopy No. (302) 634-4733), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, 24th Floor, New York, NY 10179, Attention of Mohammad S. Hasan (Telecopy No. (646) 328-3040); 

(iv) if to the Swingline Lender, to it at JPMorgan Chase Bank, N.A., 500 Stanton Christiana Road, Ops Building 2, 3rd Floor, Newark, DE
19713-2107, Attention of Taieshia Reefer (Telecopy No. (302) 634-4733), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, 24th Floor, New York, NY 10179, Attention of Mohammad S. Hasan (Telecopy No. (646) 328-3040); and

  
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 (v) if to any other Lender, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed
to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the
next business day for the recipient). Notices delivered through Electronic Systems, to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Notices and other communications to the Lenders and the Issuing Bank hereunder may be delivered or furnished by using Electronic
Systems pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. The
Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be
limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and
other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or
other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing
clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not
sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 

(c) Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other
parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

(d) Electronic Systems. 
 (i) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make Communications (as defined below) available to the Issuing Banks and the other Lenders by posting the
Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially similar Electronic System. 
 (ii) Any
Electronic System used by the Administrative Agent is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or
omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty 

  
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of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the
Communications or any Electronic System. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower or the other Loan Parties, any Lender,
the Issuing Bank or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of the
Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of communications through an Electronic System other than as a result of willful misconduct or gross negligence by such Person as determined by a final,
non-appealable order of a court of competent jurisdiction. “Communications” means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party pursuant
to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent, any Lender or any Issuing Bank by means of electronic communications pursuant to this Section, including through an Electronic System.

 SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative Agent, the Issuing Bank or any
Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any
other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they
would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any
Default, regardless of whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 
 (b) Subject to Section 2.20(b), neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the
Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i) increase the Commitment of any Lender without the written consent of
such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) except as
provided in Section 2.21, postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or
postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.18(b) or (c) or Section 7.02 in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of
Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written 

  
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consent of each Lender, (vi) reduce the percentage specified in the definition of “Required Facility Lenders” with respect to any Facility without the written consent of all
Lenders under such Facility, or (vii) release either of the Parent Guarantors from its obligations under the Parent Guaranty, or release any of the other Guarantors from their obligations under the Subsidiary Guaranty (except as otherwise
provided in Section 5.10), in each case, without the written consent of each Lender; provided further that (x) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing
Bank or the Swingline Lender hereunder without the prior written consent of the Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be, (y) the consent of the Required Facility Lenders of a Facility shall be required
for any amendment, waiver or modification that adversely affects the rights of such Facility in a manner different than such amendment, waiver or modification affects the other Facility, and (z) no such agreement shall amend or modify
Section 2.20 without the prior written consent of the Administrative Agent, the Swingline Lender and the Issuing Bank. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable out of pocket expenses
incurred by the Administrative Agent and the Joint Lead Arrangers/Joint Bookrunners and their Affiliates, including the reasonable fees, charges and disbursements of one outside counsel for the Administrative Agent and the Joint Lead Arrangers/Joint
Bookrunners and their Affiliates, taken as a whole, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of this Agreement or any amendments, modifications or waivers of the provisions
hereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter
of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent,
the Issuing Bank or any Lender, during the existence of an Event of Default and in connection with the enforcement or protection of its rights in connection with this Agreement, including its rights under this Section, or in connection with the
Loans made or Letters of Credit issued hereunder, including all such out-of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges
and disbursements of counsel, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including
any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged
presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its

  
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Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and
regardless of whether any Indemnitee is a party thereto, whether brought by the Borrower, any other Loan Party or a third party; provided that (a) such indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or from
the material breach by such Indemnitee of its obligations under the Loan Documents and (b) the Borrower shall not, in connection with any such losses, claims, damages, liabilities or related expenses in the same jurisdiction, be liable for the
reasonable fees and expenses of more than one separate law firm (which shall be selected by the Joint Lead Arrangers/Joint Bookrunners after consultation with the Borrower) at any one time for the Indemnitees as a whole (and, if necessary, one firm
of local and regulatory counsel in each appropriate jurisdiction and regulatory field, as applicable, at any one time for the Indemnitees as a whole); provided, further, that in the case of a conflict of interest where the Indemnitee affected
by such conflict informs the Borrower of such conflict, the Borrower shall be responsible for the reasonable fees and expenses of one firm of counsel (and, if necessary, one firm of local and regulatory counsel in each appropriate jurisdiction and
regulatory field) for each such affected Indemnitee. If any action, suit or proceeding is brought against any Indemnitee in connection with any claim for which it is entitled to indemnity hereunder, such indemnified person shall (i) promptly
notify the Borrower in writing of such action, suit or proceeding and (ii) give the Borrower an opportunity to consult from time to time with such Indemnitee regarding defensive measures and potential settlement. This Section 9.03(b) shall
not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from any non-Tax claim. 

(c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent under
paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent such Lender’s Pro-Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of
such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent in its capacity as such. To the
extent that the Borrower fails to pay any amount required to be paid by it to the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each Revolving Lender severally agrees to pay to the Issuing Bank or the
Swingline Lender, as the case may be, such Lender’s Revolving Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Issuing Bank or the Swingline Lender in its capacity as such. 

(d) To the extent permitted by applicable law, no party hereto shall assert, and each such party hereby waives, any claim against any
other party, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this clause (d) shall relieve the Borrower of any obligation it may have to indemnify an Indemnitee against
special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. 
 (e) All amounts due
under this Section shall be payable promptly after written demand therefor. 

  
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 SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void), other than as
contemplated by the second proviso set forth in Section 6.02, and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied,
shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to the extent
provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender
may assign to one or more Eligible Assignees (other than an Ineligible Institution) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the
prior written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Borrower, provided that, the
Borrower shall be deemed to have consented to an assignment unless it shall have objected thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; provided further
that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default under Section 7.01(a), (b), (h) or (i) has occurred and is continuing at the time
of such assignment, any other assignee, but the Administrative Agent shall nonetheless send notice of such assignment to the Borrower; 
 (B) the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an assignment of (x) any Revolving Commitment to an assignee that is a Lender with a
Revolving Commitment immediately prior to giving effect to such assignment and (y) all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; 

(C) the Issuing Bank, provided that no consent of the Issuing Bank shall be required for an assignment of all or
any portion of a Term Loan; and 
 (D) the Swingline Lender, provided, that no consent of the Swingline
Lender shall be required for an assignment of all or any portion of a Term Loan. 

  
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 (ii) Assignments shall be subject to the following additional conditions:

 (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire
remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Borrower and the Administrative Agent otherwise consent, provided that no such consent of the Borrower shall be required if an
Event of Default under Section 7.01(a), (b), (h) or (i) has occurred and is continuing at the time of such assignment; 
 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, provided that this clause shall
not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of only one Facility; 
 (C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 and any Tax Forms required
to be provided under Section 2.17(f); and 
 (D) the assignee, if it shall not be a Lender, shall deliver to
the Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts at such assignee to whom all syndicate-level information (which may contain material non-public information about the Borrower, the
Loan Parties and their related parties or their respective securities) will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state
securities laws. 
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of
a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any
assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (c) of this Section. 
 (iv) The Administrative Agent, acting for
this purpose as an agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and
principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the
Borrower, 

  
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the Administrative Agent, the Issuing Bank and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, the Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment
required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee
shall have failed to make any payment required to be made by it pursuant to Section 2.05(c), Section 2.06(d), Section 2.06(e), Section 2.07(b), Section 2.18(d) or Section 9.03(c), the Administrative Agent shall have no
obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for
purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (c) Any Lender may,
without the consent of the Borrower, the Administrative Agent, the Issuing Bank or the Swingline Lender, sell participations to one or more Eligible Assignees (a “Participant”), other than an Ineligible Institution, in all or
a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain
unchanged; (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; and (C) the Borrower, the Administrative Agent, the Issuing Bank and the other Lenders shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the
sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16
and 2.17 (subject to the requirements and limitations therein, including the requirements under Section 2.17(f) (it being understood that the documentation required under Section 2.17(f) shall be delivered to the participating Lender) to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Section 2.19 as if it
were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Section 2.15 or 2.17, with respect to any participation, than its participating Lender would have been entitled
to receive, except to the extent such participation was made with the Borrower’s prior written consent. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the
Borrower to effectuate the provisions of Section 2.19(b) with respect to any Participant. To the 

  
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extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender; provided that such Participant agrees to be subject to
Section 2.18(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant
and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any
obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans, Letters of Credit or its other obligations under
any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no
such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the
certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of
any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain
in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any
provision hereof. 
 SECTION 9.06. Counterparts; Integration; Effectiveness; Electronic Execution. (a) This
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any
separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and

  
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understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns. 
 (b) Delivery of an executed counterpart of a signature page of
this Agreement by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed
to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
or any other similar state laws based on the Uniform Electronic Transactions Act. 
 SECTION 9.07. Severability. Any
provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at
any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not
such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such
Lender may have. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement
shall be construed in accordance with and governed by the law of the State of New York. 
 (b) Each party to this Agreement
hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County, Borough of Manhattan, and of the United States
District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties
hereto hereby irrevocably and 

  
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unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined solely in such New York State or, to the extent permitted by law, in such
Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Notwithstanding
the foregoing, nothing in this Agreement shall be deemed or operate to preclude (i) the Administrative Agent, any Lender or the Issuing Bank from bringing suit or taking other legal action in any other jurisdiction to realize on any security
for the Obligations (in which case any party shall be entitled to assert any claim or defense other than any objection to the laying of venue of such action or the action having been brought in an inconvenient forum but including any claim or
defense that this Section 9.09 would otherwise require to be asserted in a legal action or proceeding in a New York court), or to enforce a judgment or other court order in favor of the Administrative Agent, any Lender or the Issuing Bank,
(ii) any party from bringing any legal action or proceeding in any jurisdiction for the recognition and enforcement of any judgment, (iii) if all such New York courts decline jurisdiction over any Person, or decline (or, in the case of the
Federal District court, lack) jurisdiction over any subject matter of such action or proceeding, a legal action or proceeding may be brought with respect thereto in another court having jurisdiction and (iv) in the event a legal action or
proceeding is brought against any party hereto or involving any of its assets or property in another court (without any collusive assistance by such party or any of its subsidiaries or Affiliates), such party from asserting a claim or defense
(including any claim or defense that this Section 9.09 would otherwise require to be asserted in a legal action or proceeding in a New York court) in any such action or proceeding. 

(c) Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do
so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing in this Agreement will affect the right of any party to this
Agreement to serve process in any other manner permitted by law. 
 SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO
HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER
BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

  
 -89-

 SECTION 9.11. Headings. Article and Section headings and the Table of
Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority,
(c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or
proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations,
(g) with the consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent, the Issuing
Bank or any Lender on a non-confidential basis from a source other than the Borrower. For the purposes of this Section, “Information” means all information received from the Borrower relating to the Borrower or its business,
other than any such information that is available to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by the Borrower; provided that, in the case of information received from the Borrower
after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

SECTION 9.13. Material Non-Public Information. 
 (a) EACH LENDER ACKNOWLEDGES THAT INFORMATION (AS DEFINED IN SECTION 9.12(a)) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS
RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE
PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 
 (b) ALL INFORMATION, INCLUDING REQUESTS
FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY

  
 -90-

 
CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER, THE OTHER LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER
AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE
LAW. 
 SECTION 9.14. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the
interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the
“Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together
with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this
Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 
 SECTION 9.15. USA PATRIOT
Act. Each Lender that is subject to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies the Borrower and the Guarantors that
pursuant to the requirements of the Act, it is required to obtain, verify and record information that identifies the Borrower and the Guarantors, which information includes the name and address of the Borrower and the Guarantors and other
information that will allow such Lender to identify the Borrower and the Guarantors in accordance with the Act. 
 SECTION 9.16.
No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Joint Lead Arrangers/Joint Bookrunners, the
Joint Lead Arrangers, and the Lenders are arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Joint Lead Arrangers/Joint Bookrunners, the Joint Lead Arrangers, and the
Lenders, on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts, the
terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative Agent, each Joint Lead Arranger/Joint Bookrunner, each Joint Lead Arranger and each Lender is and has been
acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and
(B) neither the Administrative 

  
 -91-

 
Agent, any Joint Lead Arranger/Joint Bookrunner, any Joint Lead Arranger nor any Lender has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Joint Lead Arrangers/Joint Bookrunners, the Joint Lead Arrangers and the Lenders and their respective Affiliates
may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent, any Joint Lead Arranger/Joint Bookrunner, any Joint Lead Arranger, nor any Lender
has any obligation to disclose any of such interests to the Borrower or its Affiliates. To the fullest extent permitted by law, the Borrower hereby waives and releases any claims that it may have against the Administrative Agent, any Joint Lead
Arranger/Joint Bookrunner, any Joint Lead Arranger or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

[Signature pages follow] 

  
 -92-

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

					
	BRIXMOR OPERATING PARTNERSHIP LP
		
	By:	 	Brixmor OP GP LLC, its general partner
		
	By:	 	 /s/ Steven Siegel

		 	Name:	 	Steven Siegel
		 	Title:	 	Executive Vice President, General Counsel and Secretary

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent
			
		 	By:	 	 /s/ Mohammad S. Hasan

		 		 	Name:	 	Mohammad S. Hasan
		 		 	Title:	 	Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	BANK OF AMERICA, N.A.
			
		 	By:	 	 /s/ Michael W. Edwards

		 		 	Name:	 	Michael W. Edwards
		 		 	Title:	 	Senior Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	WELLS FARGO BANK, NATIONAL ASSOCIATION
			
		 	By:	 	 /s/ Sean Armah

		 		 	Name:	 	Sean Armah
		 		 	Title:	 	Vice-President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	BARCLAYS BANK PLC
			
		 	By:	 	 /s/ Noam Azachi

		 		 	Name:	 	Noam Azachi
		 		 	Title:	 	Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	CITIBANK, N.A.
			
		 	By:	 	 /s/ John C. Rowland

		 		 	Name:	 	John C. Rowland
		 		 	Title:	 	Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	DEUTSCHE BANK AG NEW YORK BRANCH
			
		 	By:	 	 /s/ George R. Reynolds

		 	Name:	 	George R. Reynolds
		 		 	Title:	 	Director
			
		 	By:	 	 /s/ James Rolison

		 	Name:	 	James Rolison
		 		 	Title:	 	Managing Director

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	ROYAL BANK OF CANADA
			
		 	By:	 	 /s/ G. David Cole

		 		 	Name:	 	G. David Cole
		 		 	Title:	 	Authorized Signatory

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	PNC BANK, NATIONAL ASSOCIATION
			
		 	By:	 	 /s/ Brian P. Kelly

		 		 	Name:	 	Brian P. Kelly
		 		 	Title:	 	Senior Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	UBS LOAN FINANCE LLC
			
		 	By:	 	 /s/ Lana Gifas

		 		 	Name:	 	Lana Gifas
		 		 	Title:	 	 Director
 Banking Products
Services, US

			
		 	By:	 	 /s/ Joseline Fernandes

		 		 	Name:	 	Joselin Fernandes
		 		 	Title:	 	 Associate Director
 Banking
Products Services, US

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	UNION BANK, N.A.
			
		 	By:	 	 /s/ Andrew Romanosky

		 		 	Name:	 	Andrew Romanosky
		 		 	Title:	 	Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	SUNTRUST BANK
			
		 	By:	 	 /s/ Daniel J. Reddy

		 		 	Name:	 	Daniel J. Reddy
		 		 	Title:	 	SVP

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	REGIONS BANK
			
		 	By:	 	 /s/ Lori Chambers

		 		 	Name:	 	Lori Chambers
		 		 	Title:	 	Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 
							
	KEYBANK NATIONAL ASSOCIATION
			
		 	By:	 	 /s/ Daniel Stegemoeller

		 		 	Name:	 	Daniel Stegemoeller
		 		 	Title:	 	Sr. Vice President

  
 [Signature
Page - Brixmor Revolving Credit and Term Loan Agreement] 

 EXHIBIT A 
 FORM OF ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption
(the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of
Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as
if set forth herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee,
and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated
below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including any letters of credit, guarantees, and swingline loans included in such facilities) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred
to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the
Assignor. 
  

							
				
	1.	  	Assignor:	  	 	  	
				
	2.	  	Assignee:	  	 	  	
		  		  	[and is [a Lender] [an Affiliate/Approved Fund of [identify Lender]1] ]
			
	3.	  	Borrower:	  	Brixmor Operating Partnership LP
			
	4.	  	Administrative Agent:	  	JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement
			
	5.	  	Credit Agreement:	  	The Revolving Credit and Term Loan Agreement dated as of July 16, 2013 among Brixmor Operating Partnership LP, the Lenders parties thereto, JPMorgan Chase Bank,
N.A., as Administrative Agent, and the other agents parties thereto

  

	1 	 Select as applicable. 

  
 Exhibit A - 1

	6.	Assigned Interest: 

  

													
	 Facility Assigned2
	  	Aggregate Amount of
Commitment/Loans
for all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned
of
Commitment/Loans3	 
		  	$	            	  	  	$	            	  	  	 	 	% 
		  	$	            	  	  	$	            	  	  	 	 	% 
		  	$	            	  	  	$	            	  	  	 	 	% 

 Effective Date:             ,
20            [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The Assignee, if not already a Lender, agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which
the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Related Parties or their respective securities) will be
made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 
  

					
	 ASSIGNOR

	
	 [NAME OF ASSIGNOR]

			
		 	By:	 	 
		 		 	Title:
	
	 ASSIGNEE

	
	 [NAME OF ASSIGNEE]

			
		 	By:	 	 
		 		 	Title:

  

	2 	 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g.,
“Revolving Commitment,” “Term Loan Commitment,” etc.)  

	3 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

  
 Exhibit A - 2

					
	 [Consented to and]4 Accepted:

	
	 JPMORGAN CHASE BANK, N.A., as

	 Administrative Agent

		
	 By
	 	 
		 	 Title:

	
	 [Consented to:]5

	
	 [NAME OF RELEVANT PARTY]

		
	 By
	 	 
		 	Title:

  

	4 	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	5 	 To be added only if the consent of the Borrower and/or other parties (e.g. Swingline Lender, Issuing Bank) is required by the terms of the Credit
Agreement. 

  
 Exhibit A - 3

 ANNEX I 
 STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION

 1. Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it
is not a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement, (ii) the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Credit Agreement or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of the
Agreement or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under the Credit Agreement. 

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the
Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder
and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the
basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) attached to the Assignment and Assumption is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Agreement, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Agreement are required to be performed by it as a Lender. 
 2. Payments. From and
after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 
 3. General
Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute 

  
 Exhibit A - 4

 one instrument. Acceptance and adoption of the terms of this Assignment and Assumption by the Assignee and
the Assignor by Electronic Signature or delivery of an executed counterpart of a signature page of this Assignment and Assumption by any Electronic System shall be effective as delivery of a manually executed counterpart of this Assignment and
Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 Exhibit A - 5

 EXHIBIT B 
 FORM OF COMPLIANCE CERTIFICATE 
 For the Fiscal [Quarter][Year] ended
            ,              
  

	To:	JPMorgan Chase Bank, N.A., as Administrative Agent 

 Ladies and Gentlemen: 
 Reference is made to that certain Revolving Credit and Term Loan Agreement,
dated as of July 16, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Brixmor
Operating Partnership LP, a Delaware limited partnership (the “Borrower”), each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and JPMorgan Chase
Bank, N.A., as the Administrative Agent, Swingline Lender and Issuing Bank. 
 The undersigned Financial Officer hereby certifies as of the date
hereof that [he][she] is the                     of the General Partner, and that, as such, [he][she] is authorized to execute and deliver
this Compliance Certificate (this “Certificate”) to the Administrative Agent on the behalf of the Borrower, and that: 

[Use the following paragraph 1 for fiscal year-end financial statements] 
 1. The Borrower has delivered the year-end audited financial statements required by Section 5.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together
with the report of an independent certified public accountant required by such section. 
 [Use the following paragraph 1 for fiscal
quarter-end financial statements] 
 1. The Borrower has delivered the unaudited financial statements required by Section 5.01(b)
of the Agreement for the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly present in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries
on a consolidated basis in accordance with GAAP as of such date and for such period, subject to normal year-end audit adjustments and the absence of footnotes. 
 2. [To the knowledge of the undersigned, no Default has occurred and is continuing.] [To the knowledge of the undersigned, the following is a list of each Default that has occurred and is continuing and
the actions taken or proposed to be taken with respect thereto:] 
 3. The financial covenant analyses and information set forth on the
schedules attached hereto are true and correct in all material respects on and as of the date of this Certificate. 
 4. [No change in GAAP or
in the application thereof has occurred since the date of the audited financial statements referred to in Section 3.04 of the Agreement.] [The following is a list of each change in GAAP or in the application thereof that has occurred since the
date of the audited financial statements referred to in Section 3.04 of the Agreement and the effect of such change on the financial statements referred to in paragraph (1):] 

[Signature on the following page.] 

  
 Exhibit B - 1

 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
                    ,         . 

 

			
	 BRIXMOR OPERATING PARTNERSHIP LP

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 Exhibit B - 2

 [This version of Schedule 1 is to be used only during the application of the Initial
Financial Covenants.] 
 SCHEDULE 1 
 Covenant Compliance 
 ($ in 000’s) 

For the Fiscal [Quarter][Year] ended
                                ,
                 (the “Statement Date”) 
  

					
	 I. Section 6.01(a)(i) – Maximum Leverage Ratio.
	  			
	 A. Total Outstanding Indebtedness (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash:
	  	$	            	  
	 C. Total Asset Value (from Schedule 2):
	  	$	            	  
	 D. Leverage Ratio ((Line I.A. – Line I.B) ÷ Line I.C):
	  	 	            	% 
	 Maximum permitted:
	  	 	65	% 
	 II. Section 6.01(a)(ii) – Maximum Secured Leverage Ratio.
	  			
	 A. Total Secured Indebtedness (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash (from Line I.B above):
	  	$	            	  
	 C. Total Asset Value (from Schedule 2):
	  	$	            	  
	 D. Secured Leverage Ratio ((Line II.A – Line II.B) ÷ Line II.C):
	  	 	            	% 
	 Maximum permitted:
	  	 	55	% 
	 III. Section 6.01(a)(iii) – Maximum Unsecured Leverage Ratio.
	  			
	 A. Total Unsecured Indebtedness (from Schedule 2):
	  	$	            	  
	 B. On and after the Inland Repurchase Date, Inland Indebtedness (from Schedule 3):
	  	$	            	  
	 C. Unrestricted Cash and cash from like-kind exchanges:
	  	$	            	  
	 D. Unencumbered Asset Value (from Schedule 2):
	  	$	            	  

  
 Exhibit B - 3

					
	 E. On and after the Inland Repurchase Date, Inland Unencumbered Asset Value:
	  	$	             	  
	 F. Unsecured Leverage Ratio ((Line III.A + Line III.B – Line III.C) ÷ (Line III.D + Line III.E) :
	  	 	            	% 
	 Maximum permitted:
	  	 	65	% 
	 IV. Section 6.01(a)(iv) – Minimum Fixed Charge Coverage Ratio
	  			
	 A. Total Net Operating Income for the most recent 6 months for which the Borrower has reported financial results,
annualized:
	  	$	            	  
	 B. Aggregate square footage of all Operating Properties multiplied by $0.15:
	  	$	            	  
	 C. Fixed Charges (from Schedule 2):
	  	$	            	  
	 D. Fixed Charge Coverage Ratio (Line IV.A – Line IV.B) ÷ Line IV.C):
	  	 	     to 1.0	  
	 Minimum required:
	  	 	1.5 to 1.0	  
	 V. Section 6.01(a)(v) – Minimum Tangible Net Worth.
	  			
	 A. Total Asset Value (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash (from Line I.B above):
	  	$	            	  
	 C. Total Outstanding Indebtedness (from Schedule 2):
	  	$	            	  
	 D. Tangible Net Worth (Line V.A + Line V.B – Line V.C):
	  	$	            	  
	 Minimum required:
	  	$	[            	]6 
	 VI. Section 6.01(a)(vi) – Minimum Unsecured Debt Yield Ratio.
	  			
	 A. Net Operating Income from Unencumbered Assets (from Schedule 2):
	  	$	            	  
	 B. On and after the Inland Repurchase Date, Net Operating Income from Inland Unencumbered Assets (from Schedule
8):
	  	$	            	  

  

	6 	 To equal 75% of the Tangible Net Worth as of March 31, 2013. 

  
 Exhibit B - 4

					
	 C. Total Unsecured Indebtedness (from Schedule 2):
	  	$	            	  
	 D. On and after the Inland Repurchase Date, Inland Indebtedness (from Schedule 3):
	  	$	            	  
	 E. Unrestricted Cash and cash from like-kind exchanges (from Line III.C above):
	  	$	            	  
	 F. Unsecured Debt Yield Ratio ((Line VI.A + Line VI.B) ÷ (Line VI.C + Line VI.D – Line VI.E)):
	  	 	            	% 
	 Minimum required:
	  	 	9.5	% 

  
 Exhibit B - 5

 [This version of Schedule 1 is to be used only during the
application of the Public Company Financial Covenants.]  
 SCHEDULE 1 

Covenant Compliance 
 ($ in 000’s) 
 For the Fiscal [Quarter][Year] ended
        ,          (the “Statement Date”) 
  

					
	 I. Section 6.01(b)(i) – Maximum Leverage Ratio.
	  			
	 A. Total Outstanding Indebtedness (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash:
	  	$	            	  
	 C. Total Asset Value (from Schedule 2):
	  	$	            	  
	 D. Leverage Ratio ((Line I.A. – Line I.B) ÷ Line I.C):
	  	 	            	% 
	 Maximum permitted:
	  	 	60	% 
	 II. Section 6.01(b)(ii) – Minimum Fixed Charge Coverage Ratio.
	  			
	 A. Total Net Operating Income for the most recent 6 months for which the Borrower has reported financial results,
annualized:
	  	$	            	  
	 B. Aggregate square footage of all Operating Properties multiplied by $0.15:
	  	$	            	  
	 C. Fixed Charges (from Schedule 2):
	  	$	            	  
	 D. Fixed Charge Coverage Ratio (Line IV.A – Line IV.B) ÷ Line IV.C):
	  	 	     to 1.0	  
	 Minimum required:
	  	 	1.5 to 1.0	  
	 III. Section 6.01(b)(iii) – Maximum Secured Leverage Ratio.
	  			
	 A. Total Secured Indebtedness (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash (from Line I.B above):
	  	$	            	  
	 C. Total Asset Value (from Schedule 2):
	  	$	            	  

  
 Exhibit B - 6

					
	 D. Secured Leverage Ratio ((Line II.A – Line II.B) ÷ Line II.C):
	  	 	            	% 
	 Maximum permitted:
	  	 	40	% 
	 IV. Section 6.01(b)(iv) – Maximum Unsecured Leverage Ratio.
	  			
	 A. Total Unsecured Indebtedness (from Schedule 2):
	  	$	            	  
	 B. Unrestricted Cash and cash from like-kind exchanges:
	  	$	            	  
	 C. Unencumbered Asset Value (from Schedule 2):
	  	$	            	  
	 D. Unsecured Leverage Ratio ((Line IV.A – Line IV.B) ÷ Line IV.C):
	  	 	            	% 
	 Maximum permitted:
	  	 	60	% 
	 V. Section 6.01(b)(v) – Minimum Tangible Net Worth.7
	  			
	 A. Total Asset Value (from Schedule 2):
	  	$	            	  
	 B. Balance Sheet Cash (from Line I.B above):
	  	$	            	  
	 C. Total Outstanding Indebtedness (from Schedule 2):
	  	$	            	  
	 C. Tangible Net Worth (Line V.A + Line V.B – Line V.C):
	  	$	            	  
	 Minimum required:
	  	$	[            	]8 

  

	7 	 This section may be omitted from this Schedule 1 from and after the date that is earlier to occur of (1) an Investment Grade Rating Event or
(2) the consummation of a qualified IPO. 

	8 	 To equal 75% of the Tangible Net Worth as of March 31, 2013. 

  
 Exhibit B - 7

 SCHEDULE 2 
 Additional Calculations 
 ($ in 000’s) 

For the Fiscal [Quarter][Year] ended              (the
“Statement 
 Date”) 
 The calculations below have been made (i) as of the Statement Date with respect to the most recent 6 months for which the Borrower has reported financial results, annualized, and (ii) in
accordance with Section 6.01(c) of the Agreement. 
  

	 	1.	Fixed Charges equals the sum of the following: 

  

					
	 (a) Total Interest Expense
	  	$	            	  
	 (b) plus all scheduled principal payments due on Total Outstanding Indebtedness (excluding balloon
payments)
	  	$	            	  
	 (c) plus all dividends payable on account of preferred stock or preferred operating partnership units of the Borrower or
any other Person in the Consolidated Group
	  	$	            	  
	 Fixed Charges:
	  	$	            	  

  

	 	2.	Net Operating Income from Unencumbered Assets equals the difference of the following: 

 

					
	 (a)    the aggregate Net Operating Income attributable to Unencumbered Assets
	  	$	            	  
	 (b) minus the aggregate Net Operating Income attributable to Brixmor LLC Unencumbered Assets, to the extent there is any
Brixmor LLC Indebtedness or Additional Brixmor LLC Indebtedness outstanding, unless the Borrower has made the Brixmor LLC Election
	  	$	            	  
	 Net Operating Income from Unencumbered Assets:
	  	$	            	  

  

	 	3.	Total Asset Value equals the sum of the following as of the Statement Date for the Consolidated Group and the Investment Affiliates (in each case, in an amount
equal to the Ownership Share for each member of the Consolidated Group and each Investment Affiliate): 

  

					
	 (a) Total Capitalization Value (from Section 4 below)
	  	$	            	  
	 (b) plus then-current Book Value of Land
	  	$	            	  
	 (c) plus then-current Book Value of Assets Under Development
	  	$	            	  

  
 Exhibit B - 8

					
	 (d) plus value of Non-Stabilized Projects (from Schedule 7), as determined individually for each Non-Stabilized
Project, at the then-current Book Value
	  	$	            	  
	 (e) plus value of Mezzanine Debt Investments that are not more than 90 days past due determined in accordance with
GAAP
	  	$	            	  
	 (f) plus then-current value under GAAP of all First Mortgage Receivables
	  	$	            	  
	 (g) minus, if the sum of (c), (d) and (e) exceeds 35% of the sum of (a) through (f), the amount of such
excess
	  	$	            	  
	 Total Asset Value:
	  	$	            	  

  

	 	4.	Total Capitalization Value equals the sum of the following as of the Statement Date for the Consolidated Group and the Investment Affiliates (in each case, in an
amount equal to the Ownership Share for each member of the Consolidated Group and each Investment Affiliate): 

  

					
	 (a) Ownership Share of Net Operating Income from Stabilized Projects of the Consolidated Group
for the most recent 6 months for which the Borrower has reported financial results, annualized, divided by 7.00%
	  	$	            	  
	 (b) plus Ownership Share of Net Operating Income from Stabilized Projects owned by Investment Affiliates for the most
recent 6 months for which the Borrower has reported financial results, annualized, divided by 7.00%
	  	$	            	  
	 (c) plus Management Fees received by the Consolidated Group for the most recent 6 months for which the Borrower has
reported financial results, annualized, divided by 7.00%
	  	$	            	  
	 (d) plus Acquisition Assets valued at the greater of (i) capitalization value (so long as owned for at least 6 months) or
(ii) acquisition cost
	  	$	            	  
	 (e) minus, if the amount in (c) exceeds 5% of the sum of (a) through (d), the amount of such excess
	  	$	            	  
	 Total Capitalization Value:
	  	$	            	  

  

	 	5.	Total Outstanding Indebtedness equals the sum of the following as of the Statement Date: 

 

					
	 (a) Ownership Share of all Indebtedness of the Consolidated Group (including, without limitation, the Inland Equity
Interest)
	  	$	            	  
	 (b) plus applicable Ownership Share of any Indebtedness of each Investment Affiliate other than Indebtedness of such
Investment Affiliate to a member of the Consolidated Group
	  	$	            	  
	 Total Outstanding Indebtedness: 
	  	$	            	  

  
 Exhibit B - 9

	 	6.	Total Secured Indebtedness equals the sum of the following as of the Statement Date: 

 

					
	 (a) aggregate principal amount of the portion of Total Outstanding Indebtedness (from Section 5 above) that is
Secured Indebtedness
	  	$	            	  
	 (b) plus aggregate principal amount of any Indebtedness of a Subsidiary of the Borrower that is to be treated as Secured
Indebtedness in accordance with Section 5.10(a) or Section 5.10(b) of the Agreement
	  	$	            	  
	 Total Secured Indebtedness:
	  	$	            	  

  

	 	7.	Total Unsecured Indebtedness equals the sum of the following as of the Statement Date: 

 

					
	 (a) aggregate principal amount of the portion of Total Outstanding Indebtedness (from Section 5 above) that is
Unsecured Indebtedness (excluding, prior to the Inland Repurchase Date, the Inland Equity Interest)
	  	$	            	  
	 (b) minus, only for any period during which the Initial Financial Covenants are then in effect, any amounts included in
(a) above attributable to Brixmor LLC Indebtedness (from Schedule 4) and Additional Brixmor LLC Indebtedness (from Schedule 5) unless, in each case, the Borrower has made the Brixmor LLC Election
	  	$	            	  
	 Total Unsecured Indebtedness:
	  	$	            	  

  

	 	8.	Unencumbered Asset Value equals the sum of the following as of the Statement Date (in each case, in an amount equal to the Ownership Share for each member of the
Consolidated Group): 

  

					
	 (a) Net Operating Income from Stabilized Projects that are Unencumbered Assets for the most
recent 6 months for which the Borrower has reported results, annualized, divided by 7.00%
	  	$	            	  
	 (b) plus then-current Book Value of Assets Under Development that are Unencumbered Assets
	  	$	            	  
	 (c) plus then-current Book Value of Land that is an Unencumbered Asset
	  	$	            	  
	 (d) plus Acquisition Assets that are Unencumbered Assets valued at the greater of (i) capitalization value (if owned for
at least 6 months) or (ii) acquisition cost
	  	$	            	  

  
 Exhibit B - 10

					
	 (e) plus Non-Stabilized Projects (from Schedule 7) that are Unencumbered Assets,
as determined individually for each such unencumbered Non-Stabilized Project, at the then-current Book Value thereof
	  	$	            	  
	 (f) plus, 75% of the amount of Management Fees received by the Consolidated Group for the most recent 6 months for which
the Borrower has reported results, annualized, divided by 15%
	  	$	            	  
	 (g) minus, if the amount in (b) exceeds 10% of the sum of (a) through (f), the amount of such excess
	  	$	            	  
	 (h) minus, if the amount in (c) exceeds 5% of the sum of (a) through (f), the amount of such excess
	  	$	            	  
	 (i) minus, if the amount in (f) exceeds 5% of the sum of (a) through (f), the amount of such excess
	  	$	            	  
	 (j) minus, only for any period during which the Initial Financial Covenants are then in
effect, any amounts included in (a) through (e) above that are attributable to Brixmor LLC Unencumbered Assets, to the extent there is any Brixmor LLC Indebtedness or Additional Brixmor LLC Indebtedness outstanding, unless the Borrower has
made the Brixmor LLC Election
	  	$	            	  
	 Unencumbered Asset Value:
	  	$	            	  

  
 Exhibit B - 11

 SCHEDULE 3  

Inland Indebtedness 
 [If applicable] 

  
 Exhibit B - 12

 SCHEDULE 4  

Brixmor LLC Indebtedness 
 [If applicable] 

  
 Exhibit B - 13

 SCHEDULE 5 
 Additional Brixmor LLC Indebtedness 
 [If
applicable] 

  
 Exhibit B - 14

 SCHEDULE 6 
 Additional Subsidiary Indebtedness 
 [If applicable]

  
 Exhibit B - 15

 SCHEDULE 7  

Non-Stabilized Projects 

  
 Exhibit B - 16

 SCHEDULE 8 
 Unencumbered Assets 
 [To include a list of all
Unencumbered Assets, Brixmor LLC Unencumbered Assets and Inland Unencumbered Assets, if applicable, and the Net Operating Income attributable to each] 

  
 Exhibit B - 17

 EXHIBIT C-1 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That
Are Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Revolving Credit and Term Loan
Agreement dated as of July 16, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Brixmor Operating Partnership LP, as Borrower, JPMorgan Chase Bank, N.A., as
Administrative Agent, and each lender from time to time party thereto. 
 Pursuant to the provisions of
Section 2.17(f)(ii)(B)(3) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing
this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is
not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The
undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	 [NAME OF LENDER]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Date:             ,
201[    ] 

  
 Exhibit C-1 -
1 

 EXHIBIT C-2 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That
Are Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Revolving Credit and Term Loan
Agreement dated as of July 16, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Brixmor Operating Partnership LP, as Borrower, JPMorgan Chase Bank, N.A., as
Administrative Agent, and each lender from time to time party thereto. 
 Pursuant to the provisions of 2.17(f)(ii)(B)(4) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the
Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY
accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	 [NAME OF LENDER]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Date:             ,
201[    ] 

  
 Exhibit C-2 -
1 

 EXHIBIT C-3 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Participants
That Are Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Revolving Credit and Term
Loan Agreement dated as of July 16, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Brixmor Operating Partnership LP, as Borrower, JPMorgan Chase Bank, N.A., as
Administrative Agent, and each lender from time to time party thereto. 
 Pursuant to the provisions of 2.17(f)(ii)(B)(4) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as
described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a certificate
of its non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and
(2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar
years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement. 
  

			
	 [NAME OF PARTICIPANT]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Date:             ,
201[    ] 

  
 Exhibit C-3 -
1 

 EXHIBIT C-4 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (For Foreign Participants
That Are Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Revolving Credit and Term Loan
Agreement dated as of July 16, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Brixmor Operating Partnership LP, as Borrower, JPMorgan Chase Bank, N.A., as
Administrative Agent, and each lender from time to time party thereto. 
 Pursuant to the provisions of 2.17(f)(ii)(B)(4) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners
of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or
business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption:
(i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the
undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	 [NAME OF PARTICIPANT]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Date:             ,
201[    ] 

  
 Exhibit C-4 -
1 

 EXHIBIT D-1 
 FORM OF REVOLVING LOAN NOTE 
  

			
	$[                    ]	  	July 16, 2013

 FOR VALUE RECEIVED, the undersigned, BRIXMOR OPERATING PARTNERSHIP LP, a Delaware limited partnership
(the “Borrower”), promises to pay, without offset or counterclaim, to the order of [            ] (hereinafter, together with its successors in title and
permitted assigns, the “Lender”) in care of the Administrative Agent to the Administrative Agent’s address at 500 Stanton Christiana Road, Newark, Delaware, or at such other address as may be specified in writing by the
Administrative Agent to the Borrower, the principal sum of [            ] Dollars ($[            ]) or, if less,
the aggregate unpaid principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013, among the Lender, the Borrower, the other lending institutions
named therein and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”) (as amended, restated, replaced, supplemented or modified from time to time, the “Credit Agreement”).
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. Unless otherwise provided herein, the rules of interpretation set forth in Article I of the Credit Agreement shall be
applicable to this Note. 
 The Borrower also promises to pay (a) principal at the times provided in the Credit Agreement
and (b) interest from the date hereof on the principal amount unpaid at the rates and times set forth in the Credit Agreement and in all cases in accordance with the terms of the Credit Agreement. Late charges and other charges and default rate
interest shall be paid by Borrower in accordance with, and subject to, the terms and conditions of the Credit Agreement. The entire outstanding principal amount of this Note, together with all accrued but unpaid interest thereon, shall be due and
payable in full on the Maturity Date. The Lender may endorse the record relating to this Note with appropriate notations evidencing advances and payments of principal hereunder as contemplated by the Credit Agreement. Such notations shall, to the
extent not inconsistent with the notations made by the Administrative Agent in the Register, be conclusive and binding on the Borrower in the absence of manifest error; provided, however, that the failure of any Lender to make any such notations
shall not limit or otherwise affect any Obligations of the Borrower. 
 Payments of both principal and interest are to be made
in the currency in which such Revolving Loan was made and as specified in the Credit Agreement in immediately available funds to the account designated by the Administrative Agent pursuant to the Credit Agreement. 

This Note is issued pursuant to, is entitled to the benefits of, and is subject to the provisions of the Credit Agreement and the other
Loan Documents. The principal of this Note is subject to prepayment in whole or in part without premium or penalty (subject to the provisions of Section 2.16 of the Credit Agreement) in the manner and to the extent specified in the Credit
Agreement. The principal of this Note, the interest accrued on this Note and all other obligations of the Borrower are full recourse obligations of the Borrower. 

  
 Exhibit D-1 -
1 

 In case an Event of Default shall occur and be continuing, the entire unpaid principal
amount of this Note and all of the unpaid interest accrued thereon may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement. 

The Borrower and all the parties hereto, whether as makers, endorsers, or otherwise, hereby waive presentment for payment, demand protest
and notice of any kind in connection with the delivery, acceptance, performance and enforcement of this Note (except for notices expressly required by the Credit Agreement), and also hereby assent to extensions of time of payment or forbearance or
other indulgences without notice. 
 THIS NOTE SHALL BE INTERPRETED, AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO
DETERMINED, IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Page to Follow] 

  
 Exhibit D-1 -
2 

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed in its name as of
the date first above written. 
  

			
	 BRIXMOR OPERATING PARTNERSHIP LP

		
	 By:
	 	  

	 Name:

	 Title:

 [Signature Page—Revolving Loan Note (Form)] 

  
 Exhibit D-1 -
3 

 REVOLVING LOANS AND PRINCIPAL PAYMENTS 

 
  

																			
	  	 	 Amount of
 Loan

Made
	 	 Interest
 Period

(If

Applicable)
	 	 Amount of
 Principal Repaid
	 	 Unpaid
 Principal Balance
	 	  	 	 Notation
 Made By

	  	 	  	 	Eurodollar	 	 	  	 	Eurodollar	 	  	 	Eurodollar	 	  	 
	Date	 	ABR	 	Rate	 	 	ABR	 	Rate	 	ABR	 	Rate	 	Total	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  
 Exhibit D-1 -
4 

 EXHIBIT D-2 
 FORM OF TERM LOAN NOTE 
  

			
	$[            ]	  	July 16, 2013

 FOR VALUE RECEIVED, the undersigned, BRIXMOR OPERATING PARTNERSHIP LP, a Delaware limited partnership
(the “Borrower”), promises to pay, without offset or counterclaim, to the order of [            ] (hereinafter, together with its successors in title and
permitted assigns, the “Lender”) in care of the Administrative Agent to the Administrative Agent’s address at 500 Stanton Christiana Road, Newark, Delaware, or at such other address as may be specified in writing by the
Administrative Agent to the Borrower, the principal sum of [            ] Dollars ($[            ]) or, if less,
the aggregate unpaid principal amount of all Term Loans made by the Lender to the Borrower pursuant to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013, among the Lender, the Borrower, the other lending institutions named
therein and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”) (as amended, restated, replaced, supplemented or modified from time to time, the “Credit Agreement”).
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. Unless otherwise provided herein, the rules of interpretation set forth in Article I of the Credit Agreement shall be
applicable to this Note. 
 The Borrower also promises to pay (a) principal at the times provided in the Credit Agreement
and (b) interest from the date hereof on the principal amount unpaid at the rates and times set forth in the Credit Agreement and in all cases in accordance with the terms of the Credit Agreement. Late charges and other charges and default rate
interest shall be paid by Borrower in accordance with, and subject to, the terms and conditions of the Credit Agreement. The entire outstanding principal amount of this Note, together with all accrued but unpaid interest thereon, shall be due and
payable in full on the Maturity Date. The Lender may endorse the record relating to this Note with appropriate notations evidencing advances and payments of principal hereunder as contemplated by the Credit Agreement. Such notations shall, to the
extent not inconsistent with the notations made by the Administrative Agent in the Register, be conclusive and binding on the Borrower in the absence of manifest error; provided, however, that the failure of any Lender to make any such notations
shall not limit or otherwise affect any Obligations of the Borrower. 
 Payments of both principal and interest are to be made
in the currency in which such Term Loan was made and as specified in the Credit Agreement in immediately available funds to the account designated by the Administrative Agent pursuant to the Credit Agreement. 

This Note is issued pursuant to, is entitled to the benefits of, and is subject to the provisions of the Credit Agreement and the other
Loan Documents. The principal of this Note is subject to prepayment in whole or in part without premium or penalty (subject to the provisions of Section 2.16 of the Credit Agreement) in the manner and to the extent specified in the Credit
Agreement. The principal of this Note, the interest accrued on this Note and all other obligations of the Borrower are full recourse obligations of the Borrower. 

  
 Exhibit D-2 -
1 

 In case an Event of Default shall occur and be continuing, the entire unpaid principal
amount of this Note and all of the unpaid interest accrued thereon may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement. 

The Borrower and all the parties hereto, whether as makers, endorsers, or otherwise, hereby waive presentment for payment, demand protest
and notice of any kind in connection with the delivery, acceptance, performance and enforcement of this Note (except for notices expressly required by the Credit Agreement), and also hereby assent to extensions of time of payment or forbearance or
other indulgences without notice. 
 THIS NOTE SHALL BE INTERPRETED, AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO
DETERMINED, IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Page to Follow] 

  
 Exhibit D-2 -
2 

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed in its name as of
the date first above written. 
  

			
	 BRIXMOR OPERATING PARTNERSHIP LP

		
	 By:
	 	  

	 Name:

Title:

  
 Exhibit D-2 -
3 

 TERM LOANS AND PRINCIPAL PAYMENTS 

 

																			
	  	 	 Amount of
 Loan

Made
	 	
Interest
Period

(If
Applicable) 
	 	 Amount of
 Principal Repaid
	 	 Unpaid
 Principal Balance
	 	  	 	  
	Date	 	ABR	 	Eurodollar
Rate	 	 	ABR	 	Eurodollar
Rate	 	ABR	 	Eurodollar
Rate	 	Total	 	Notation
Made By
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  
 Exhibit D-2 -
4 

 EXHIBIT D-3 
 FORM OF SWINGLINE LOAN NOTE 
  

			
	$50,000,000	  	July 16, 2013

 FOR VALUE RECEIVED, the undersigned, BRIXMOR OPERATING PARTNERSHIP LP, a Delaware limited partnership
(the “Borrower”), promises to pay, without offset or counterclaim, to the order of JPMORGAN CHASE BANK, N.A. (hereinafter, together with its successors in title and permitted assigns, the “Lender”) in
care of the Administrative Agent to the Administrative Agent’s address at 500 Stanton Christiana Road, Newark, Delaware, or at such other address as may be specified in writing by the Administrative Agent to the Borrower, the principal sum of
Fifty Million Dollars ($50,000,000) or, if less, the aggregate unpaid principal amount of all Swingline Loans made by the Lender to the Borrower pursuant to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013, among the
Lender, the Borrower, the other lending institutions named therein and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”) (as amended, restated, replaced, supplemented or modified from time to
time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. Unless otherwise provided herein, the rules of interpretation set
forth in Article I of the Credit Agreement shall be applicable to this Note. 
 The Borrower also promises to pay
(a) principal at the times provided in the Credit Agreement and (b) interest on the principal amount unpaid at the rates and times set forth in the Credit Agreement and in all cases in accordance with the terms of the Credit Agreement.
Late charges and other charges and default rate interest shall be paid by Borrower in accordance with, and subject to, the terms and conditions of the Credit Agreement. The entire outstanding principal amount of this Note, together with all accrued
but unpaid interest thereon, shall be due and payable in full on the Maturity Date. The Lender may endorse the record relating to this Note with appropriate notations evidencing advances and payments of principal hereunder as contemplated by the
Credit Agreement. Such notations shall, to the extent not inconsistent with the notations made by the Administrative Agent in the Register, be conclusive and binding on the Borrower in the absence of manifest error; provided, however, that the
failure of any Lender to make any such notations shall not limit or otherwise affect any Obligations of the Borrower. 

Payments of both principal and interest are to be made in the currency in which such Swingline Loan was made and as specified in the
Credit Agreement in immediately available funds to the account designated by the Administrative Agent pursuant to the Credit Agreement. 
 This Note is issued pursuant to, is entitled to the benefits of, and is subject to the provisions of the Credit Agreement and the other Loan Documents. The principal of this Note is subject to prepayment
in whole or in part without premium or penalty in the manner and to the extent specified in the Credit Agreement. The principal of this Note, the interest accrued on this Note and all other obligations of the Borrower are full recourse obligations
of the Borrower. 

  
 Exhibit D-3 -
1 

 In case an Event of Default shall occur and be continuing, the entire unpaid principal
amount of this Note and all of the unpaid interest accrued thereon may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement. 

The Borrower and all the parties hereto, whether as makers, endorsers, or otherwise, hereby waive presentment for payment, demand protest
and notice of any kind in connection with the delivery, acceptance, performance and enforcement of this Note (except for notices expressly required by the Credit Agreement), and also hereby assent to extensions of time of payment or forbearance or
other indulgences without notice. 
 THIS NOTE SHALL BE INTERPRETED, AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO
DETERMINED, IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 [Signature Page to Follow] 

  
 Exhibit D-3 -
2 

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed in its name as of
the date first above written. 
  

			
	 BRIXMOR OPERATING PARTNERSHIP LP

		
	 By:
	 	  

	 Name:

	 Title:

  
 Exhibit D-3 -
3 

 SWINGLINE LOANS AND PRINCIPAL PAYMENTS 

 

									
	Date	 	 Amount

of Loan
	 	 Amount of

Principal Paid

or Prepaid
	 	 Balance of

Principal

Unpaid
	 	 Notation
 Made By:

	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  
 Exhibit D-3 -
4 

 EXHIBIT E 

FORM OF BORROWING REQUEST 
 Date:                 , 201     

 

	To:	JPMorgan Chase Bank, N.A., as Administrative Agent 

 Ladies and Gentlemen: 
 Reference is made to that certain Revolving Credit and
Term Loan Agreement, dated as of July 16, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement;” the terms defined therein being used herein as therein
defined), among Brixmor Operating Partnership LP, a Delaware limited partnership (the “Borrower”), the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (the
“Administrative Agent”). 
 The undersigned hereby requests (select one): 

 

	 	 ̈	A Borrowing of Revolving Loans 

  

	 	1.	 On [            ], 201     (the “Borrowing
Date”)1. 

 

	 	2.	 In the principal amount of $             .2 

 

	 	3.	Comprised of [Eurodollar Borrowing][ABR Borrowing]. 

  

	 	4.	For Eurodollar Borrowings: with an Interest Period of             months. 

 

	 	5.	To be wired to the following account in accordance with Section 2.07 of the Credit Agreement: [Location] [Name] [Account Number]. 

 

	 	 ̈	A Borrowing of Term Loans 

  

	 	1.	 On [            ], 201     (the “Borrowing
Date”)3. 

 

	 	2.	 In the principal amount of $             .4 

 

	1 	 The Borrowing Date must be a Business Day. 

	2 	 Subject to the exceptions set forth in Section 2.02(c) of the Credit Agreement, (1) any Borrowing of Eurodollar Loans must be in a minimum
principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess of that amount and (2) any Borrowing of ABR Loans must be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess of that amount.

	3 	 The Borrowing Date must be a Business Day. 

	4 	 Subject to the exceptions set forth in Section 2.02(c) of the Credit Agreement, (1) any Borrowing of Eurodollar Loans must be in a minimum
principal amount of $10,000,000 or a whole multiple of $5,000,000 in excess of that amount and (2) any Borrowing of ABR Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess of that amount.

  
 Exhibit E-1

	 	3.	Comprised of [Eurodollar Borrowing][ABR Borrowing]. 

  

	 	4.	For Eurodollar Borrowings: with an Interest Period of             months. 

 

	 	5.	To be wired to the following account in accordance with Section 2.07 of the Credit Agreement: [Location] [Name] [Account Number]. 

 

	 	 ̈	A Borrowing of Swingline Loans 

  

	 	1.	 On [            ], 201     (the “Borrowing
Date”)5. 

 

	 	2.	 In the amount of $             .6 

 

	 	 ̈	The [issuance][amendment][renewal][extension] of a Letter of Credit 

  

	 	1.	 On [            ], 201     (the “Effective
Date”)7. 

 

	 	2.	With an expiration date of [            ]. 

 

	 	3.	In the amount of $             . 

 

	 	4.	The name and address of the beneficiary is: [            ]. 

 

	 	[5.	 The identification number of the Letter of Credit is [            ].]8 

The Borrower hereby certifies to the Administrative Agent and the Lenders that as of the [Borrowing Date][Effective Date] and after
giving effect to the requested [Borrowing][issuance, amendment, renewal or extension]: 
 (a) The representations and
warranties of the Borrower set forth in the Credit Agreement are true and correct in all material respects on and as of the [Borrowing Date][Effective Date] (except to the extent that any such representation and warranty expressly relates to an
earlier date, in which case such representation and warranty is true and correct in all material respects as of such earlier date); and 
 (b) No Default or Event of Default has occurred and is continuing. 
 If notice of
the requested Borrowing was previously given by telephone, this notice is to be considered the written confirmation of such telephone notice required by Section 2.03 of the Credit Agreement. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGE TO FOLLOW] 

 

	5 	 The Borrowing Date must be a Business Day. 

	6 	 Any Borrowing of Swingline Loans must be in a minimum principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess of that amount.

	7 	 The Effective Date must be a Business Day. 

	8 	 Line 6 to be included only for an amendment to, or a renewal or extension of, an issued and outstanding Letter of Credit. 

  
 Exhibit E-2

 
			
	 Borrower
  

BRIXMOR OPERATING PARTNERSHIP LP,
 a
Delaware limited partnership

		
	By:	 	 
	 Name:

Title:

  
 Exhibit E-3

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