Document:

EX-10.6

 Exhibit 10.6 

ENVIRONMENTAL INDEMNITY AGREEMENT (MEZZANINE LOAN) 

This ENVIRONMENTAL INDEMNITY AGREEMENT (MEZZANINE LOAN) (this “Agreement”) is made as of November 3, 2016, by
TOYS “R” US, INC., a Delaware corporation (together with its successors and assigns, “Sponsor”) and GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company (together with its successors and
assigns, “Borrower”, and, collectively with Sponsor, jointly and severally, the “Indemnitor”) in favor of BRIGADE LEVERAGED CAPITAL STRUCTURES FUND LTD., BRIGADE CREDIT FUND II LTD., BRIGADE STRUCTURED CREDIT
FUND LTD., LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION, BRIGADE DISTRESSED VALUE MASTER FUND LTD., THE COCA-COLA COMPANY MASTER RETIREMENT TRUST, FEDEX CORPORATION EMPLOYEES’ PENSION TRUST, DELTA MASTER TRUST, BRIGADE OPPORTUNISTIC
CREDIT FUND—ICIP, LTD. and BRIGADE OPPORTUNISTIC CREDIT FUND 16 LLC (together with each of their respective successors and permitted assigns, collectively, “Lender”) and the other Indemnified Parties (as defined
below).  
 RECITALS: 

A. WHEREAS, Lender is prepared to make a certain mezzanine loan (the “Loan”) to Borrower, pursuant to a Mezzanine Loan
Agreement of even date herewith between Borrower and Lender (as the same may be amended, restated, replaced, extended, supplemented or otherwise modified from time to time, the “Loan Agreement”; all capitalized terms used herein but
not otherwise defined shall have the respective meanings ascribed to such terms in the Loan Agreement), which Loan shall be evidenced by one or more promissory notes (as the same may be amended, restated, replaced, supplemented or otherwise modified
from time to time, collectively, the “Note”) and secured by among other things, that certain Pledge and Security Agreement (Mezzanine Loan) of even date herewith, given by Borrower to Lender (as the same may be amended, restated,
replaced, supplemented or otherwise modified from time to time, the “Pledge Agreement”) encumbering the Collateral (as defined in the Pledge Agreement) described therein. 

B. WHEREAS, the Loan is being made in connection with a mortgage loan extended by Goldman Sachs Mortgage Company, a New York limited
partnership (“GS”) and Bank of America, N.A., a national banking association (“BOA”; together with GS and each of their respective successors and permitted assigns, collectively, “Mortgage Lender”)
pursuant to the Mortgage Loan Note (as defined in the Loan Agreement), dated of even date herewith, executed by Toys “R” Us Property Company II, LLC, a Delaware limited liability company (“Mortgage Borrower”) under which
Mortgage Borrower has become indebted, and may from time to time be further indebted, to Mortgage Lender with respect to a loan (“Mortgage Loan”) made pursuant to that certain Loan Agreement, of even date herewith between Mortgage
Borrower, and Mortgage Lender (as the same may hereafter be amended, restated, extended, replaced, supplemented, or otherwise modified from time to time, the “Mortgage Loan Agreement”), which Mortgage Loan is secured by the
Mortgages (as defined in the Mortgage Loan Agreement), encumbering certain real property and the leasehold interests in certain real property (individually and/or collectively, as the context may require, the “Property”). 

  
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 C. WHEREAS, Mortgage Borrower is the owner of the Property. 

D. WHEREAS, Borrower is the owner of 100% of the membership interests in Mortgage Borrower. 

E. WHEREAS, the Lender is unwilling to make the Loan unless Indemnitor agrees to provide the indemnification, representations, warranties,
covenants and other matters described in this Agreement for the benefit of the Indemnified Parties. 
 F. WHEREAS, Indemnitor is entering
into this Agreement to induce the Lender to make the Loan. 
 AGREEMENT 

NOW THEREFORE, in consideration of the mutual premises contained herein and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, Indemnitor hereby represents, warrants, covenants and agrees for the benefit of the Indemnified Parties as follows: 

1. Environmental Representations and Warranties. The representations and warranties of Borrower in the Loan Agreement relating to
environmental matters are incorporated herein by this reference as if fully set forth herein and deemed to have been made as of the date hereof by Indemnitor. 

2. Environmental Covenants. Indemnitor covenants that: 

(a) all uses and operations on or of the Property by Borrower, Mortgage Borrower or any Person affiliated with Borrower or Mortgage Borrower
shall be in compliance in all material respects with all applicable Environmental Laws and permits issued pursuant thereto; 
 (b) Borrower
shall cause Mortgage Borrower to use commercially reasonable efforts to ensure that uses and operations by all tenants or other users of the Property are in compliance in all material respects with all applicable Environmental Laws and permits
issued pursuant thereto; 
 (c) Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to ensure that there shall be
no Releases of Hazardous Substances at, in, on, above, under or from the Property that (i) are not in compliance in all material respects with applicable Environmental Law, (ii) are likely to require material Remediation under applicable
Environmental Law, or (iii) are likely to result in the imposition of material Losses under Environmental Law; 
 (d) Borrower shall
cause Mortgage Borrower to ensure that there shall be no Hazardous Substances present at, in, on, above, under or from the Property, except those that are (i) both (A) in material compliance with all applicable Environmental Laws and with
permits issued pursuant thereto, and (B) fully disclosed to Lender in writing or commonly used in the operation and maintenance of, or by tenants in, commercial properties similar to the Property, and (ii) not reasonably likely to result
in a Material Adverse Effect; 

  
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 (e) Borrower shall cause Mortgage Borrower to keep the Property free and clear of all liens and
other encumbrances imposed pursuant to any Environmental Law, whether or not due to any act or omission of Borrower or Mortgage Borrower (the “Environmental Liens”), provided that it shall not be a default under the Loan Documents
if any such Environmental Liens are imposed and Borrower causes Mortgage Borrower to either (i) commences to remove such Environmental Liens within 30 days after written notice thereof and thereafter diligently and expeditiously proceeds to
remove the same, or (ii) after notice to Lender, contests by appropriate legal proceedings, promptly initiated and conducted in good faith and with due diligence, the imposition of such Environmental Liens, so long as (A) no Event of
Default has occurred and is continuing, (B) such proceeding shall suspend the enforcement of such Environmental Liens, (C) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited,
terminated, canceled or lost during the pendency of any such proceeding, and (D) Borrower shall have furnished (or shall have caused Mortgage Borrower to furnish) such security as may be required in the proceeding, or as may be reasonably
requested by Lender, to ensure the payment of any costs or expenses related to removal of the Environmental Lien or the prosecution of the legal proceedings, together with all interest or penalties thereon; 

(f) In the event that Lender reasonably determines that either (i) the Property or any operation thereon is in material violation of
applicable Environmental Law, (ii) Hazardous Substances are present or have been Released at, in, on, above, under or from the Property in material violation of applicable Environmental Law or in a manner that requires material Remediation or
is likely to result in the imposition of material Losses under Environmental Law, or (iii) any other environmental hazard exists at the Property that would reasonably be expected to have a Material Adverse Effect, then Borrower shall cause
Mortgage Borrower to comply with all reasonable requests of Lender to: (x) reasonably effectuate Remediation of such Hazardous Substance or condition as required by Environmental Law; (y) comply in all material respects with any applicable
Environmental Law; and (z) comply with any lawful and binding directive from any applicable Governmental Authority, provided that with respect to (f)(y) and (z) above, after notice to Lender, Borrower may cause Mortgage Borrower to suspend
such compliance and contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the applicability of such Environmental Law, and provided further that (A) no Event of Default has occurred and
is continuing, (B) the Property or any portion thereof or interest therein or the Collateral or any part thereof or interest therein, will not be in danger of being sold, forfeited, terminated, canceled or lost during the pendency of any such
proceeding, and (C) Borrower shall have furnished (or shall have caused Mortgage Borrower to furnish) the security as may be required in the proceeding, or as may be reasonably requested by Lender to ensure the payment of any related costs or
expenses, together with all interest and penalties thereon; 
 (g) Borrower shall not do (and Borrower shall cause Mortgage Borrower to not
do), and Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to prevent any tenant or other user of the Property from doing, any act that is in non-compliance with applicable Environmental Law, is contrary to any reasonable
requirement of any insurer, 

  
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constitutes a public or private nuisance, constitutes physical waste, or violates any covenant, condition, agreement or easement, in each case as is related to any environmental matters
applicable to the Property and that is reasonably likely, in any such case, to result in a Material Adverse Effect; 
 (h) Borrower shall (or
shall cause Mortgage Borrower to) promptly notify Lender as it becomes aware of (i) the presence or Release of Hazardous Substances at, in, on, above, under or from the Property in violation of applicable Environmental Law or in a manner that
requires material Remediation or is likely to result in the imposition of material Losses under Environmental Law, (ii) any material non-compliance with any applicable Environmental Law related in any way to the Property, (iii) any actual
or threatened (in writing) material Environmental Lien, or (iv) any written notice or other communication from any Governmental Authority or any other Person relating to (A) any of the foregoing, (B) reasonably likely material Losses
of any Person pursuant to any Environmental Law in connection with the Property, (D) other material environmental hazard in connection with the Property, or (E) any actual or threatened material administrative or judicial proceedings
pursuant to Environmental Law in connection with the Property; 
 (i) If, at any time, it is determined that asbestos or asbestos-containing
materials are present on the Property, Borrower shall (or shall cause Mortgage Borrower to) retain an environmental consultant reasonably satisfactory to Lender to prepare an operations and maintenance program, and Borrower shall (or shall cause
Mortgage Borrower to) comply with the same. Borrower shall (or shall cause Mortgage Borrower to) deliver a copy of any such program to Lender; and 

(j) Borrower shall (and shall cause Mortgage Borrower to) reasonably cooperate in all activities pursuant to Section 3 of this
Agreement, including but not limited to providing all relevant information and making knowledgeable persons available for interviews. 
 3.
Indemnified Rights/Cooperation and Access. In the event that Lender reasonably believes that either (i) the Property or any operation thereon is in material violation of applicable Environmental Law, (ii) Hazardous Substances are
present or have been Released at, in, on, above, under or from the Property in material violation of applicable Environmental Law or in a manner that requires material Remediation or is reasonably likely to result in the imposition of material
Losses under Environmental Law, or (iii) any other environmental hazard exists at the Property that is reasonably likely to have a Material Adverse Effect or that is likely to materially endanger the health or safety of any tenants or other
occupants of such Property, upon reasonable notice from Lender and subject to the rights of tenants, Indemnitor shall promptly cause an engineer or consultant reasonably satisfactory to Lender to conduct an environmental assessment or audit to
assess any and all aspects of the condition giving rise to such belief (the scope of which shall be reasonably satisfactory to Lender) and take any samples of potentially affected soil, groundwater or other water, air, or building materials or any
other invasive testing reasonably requested by Lender and promptly deliver the results of any such assessment, audit, sampling or other testing to Lender, and Lender and the other Indemnified Parties shall be entitled to rely on such reports and
other results thereof; provided, however, that, if such results are not delivered to Lender within a reasonable period, upon reasonable notice to Indemnitor, Lender and any other Person designated by Lender, including but not limited
to any 

  
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receiver, any representative of a Governmental Authority with relevant jurisdiction and Lender’s environmental consultant, shall have the right, but not the obligation, to enter upon the
potentially affected Property at all reasonable times (subject to the rights of tenants) to assess the relevant aspects of the environmental condition of the Property, including but not limited to, by conducting any environmental assessment or audit
(the scope of which shall be determined in the reasonable discretion of Lender) and taking samples of potentially affected soil, groundwater or other water, air, or building materials, and reasonably conducting other invasive testing. Indemnitor
shall reasonably cooperate with and provide, upon advance notice, Lender and any such Person designated by Lender with such access to the Property. For purposes of this Section 3, Indemnitor and Lender hereby agree that, except in the event of
an emergency (i.e., an unexpected event that threatens imminent harm to persons or property at or adjacent to any of the Properties), “reasonable times” shall not include the period between October 31 and December 31 of the
applicable calendar year. 
 4. Indemnification. Indemnitor covenants and agrees to protect defend, indemnify, release and hold the
Indemnified Parties harmless from and against, any and all Losses and costs of Remediation (whether or not performed voluntarily), reasonable engineers’ fees, environmental consultants’ fees and costs of investigation (including but not
limited to sampling, testing and analysis of soil, water, air, building materials and other materials and substances whether solid, liquid or gas) imposed upon, incurred by or asserted against any of the Indemnified Parties (other than special,
consequential or punitive damages, except to the extent imposed upon the Indemnified Parties by one or more third parties) and directly or indirectly arising out of or in any way relating to any one or more of the following: 

(a) any presence of any Hazardous Substances at, in, on, above, under or from the Property; 

(b) any past, present or threatened Release of Hazardous Substances at, in, on, above, under or from the Property; 

(c) any use, treatment, storage, holding, existence, disposition, generation, production, manufacturing, processing, refining,
control, management, abatement, removal, handling on or at or transfer or transportation to or from the Property of any Hazardous Substances at any time located at, in, on, above, under or from the Property; 

(d) any actual or proposed Remediation of any Hazardous Substances at any time located at, in, on, above, under or from the
Property, whether or not such Remediation is voluntary or pursuant to a judicial or administrative proceeding, action, claim, suit, judgment, award, decree or order; 

(e) any non-compliance with or violations of any applicable Environmental Laws (or permits issued pursuant thereto) in
connection with the Property or operations thereon, including but not limited to any failure by Borrower, Mortgage Borrower or any Person affiliated with Borrower or Mortgage Borrower or any tenant or other user of the Property to comply with any
order or decree of or agreement with any Governmental Authority in connection with any Environmental Laws; 

  
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 (f) the imposition, recording or filing of any Environmental Lien encumbering the
Property; 
 (g) any administrative processes or proceedings or judicial proceedings in any way connected with any matter
addressed in this Agreement; 
 (h) any act of Borrower, Mortgage Borrower, or any Person affiliated with Borrower or
Mortgage Borrower, or any tenant or other user of the Property in arranging for disposal or treatment, or arranging with a transporter for transport, disposal or treatment, of Hazardous Substances relating to the Property, in each case, at any
disposal or treatment facilities, incineration vessels or sites owned or operated by another Person and containing such or any similar Hazardous Substances; 

(i) any act of Borrower, Mortgage Borrower, or any Person affiliated with Borrower or Mortgage Borrower, or any tenant or other
user of the Property in accepting any Hazardous Substances for transport to disposal or treatment facilities, incineration vessels or sites selected by Borrower, Mortgage Borrower or such other users from which there is a Release, or a threatened
Release of any Hazardous Substance that causes the incurrence of costs for Remediation; 
 (j) any personal injury, wrongful
death, or property or other damage related to environmental matters arising under any statutory or common law or tort law theory by reason of the wrongful acts or omissions of Borrower, Mortgage Borrower, or any Person affiliated with Borrower or
Mortgage Borrower, or any tenant or other user of the Property, including but not limited to damages assessed for private or public nuisance or for the conducting of an abnormally dangerous activity on or near the Property; 

(k) any material misrepresentation or inaccuracy in any representation or warranty in this Agreement or material breach or
failure to perform any covenants or other obligations of Borrower or Indemnitor pursuant to this Agreement; and 
 (l) any
presence of toxic mold or toxic mold spores at the Property including the cost and expense of any repair, replacement, removal, cleanup, abatement, disposal, relocation or other remedial actions required at the Property pursuant to Environmental Law
for purposes of addressing any medical or legal concerns resulting therefrom. 
 Notwithstanding any other provision of this Agreement to
the contrary, the indemnity provided by this Section 4 shall not apply to any Losses, costs of Remediation or other liabilities of any Indemnified Party in the circumstances described above to the extent that the Release or other
environmental matter giving rise to same shall either (a) have first occurred on, at or under the Property subsequent to the time that Borrower ceases to be in possession of the Collateral as a result of the exercise by Lender of any remedies
provided in the Loan Documents or (b) was caused or exacerbated by the fraud, criminal conduct, gross negligence or willful misconduct of any Indemnified Party. 

  
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 5. Duty to Defend and Attorneys’ and Other Fees and Expenses. Indemnitor agrees that,
upon request by any Indemnified Party, the Indemnitor shall defend such Indemnified Party against any claim for which Indemnitor is indemnifying the Indemnified Parties pursuant to Section 4 above (if requested by any Indemnified Party,
in the name of such Indemnified Party) by attorneys and other professionals reasonably approved by the Indemnified Parties. Notwithstanding the foregoing, if the defendants in a claim include Borrower or Mortgage Borrower and any Indemnified Party
shall have reasonably concluded that (A) there are legal defenses available to it that are materially different from those available to Indemnitor, or (B) the use of the attorneys engaged by Indemnitor would present such attorneys with a
conflict of interest, such Indemnified Party may, in its sole and absolute discretion, engage its own attorneys and other professionals to assume its legal defenses and to defend or assist it, and, at the option of such Indemnified Party, its
attorneys shall control the resolution of any claim or proceeding against such Indemnified Party, provided that no compromise or settlement shall be entered without the Indemnitor’s consent, which consent shall not be unreasonably withheld.
Indemnitor shall be liable to, and, within ten (10) Business Days following demand, shall pay or, in the sole and absolute discretion of any Indemnified Party, reimburse, such Indemnified Party for the payment of reasonable fees and
disbursements of attorneys, engineers, environmental consultants, laboratories and other professionals in connection therewith. 
 6.
Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 The term “Environmental
Laws” means any and all federal, state and local laws, statutes, ordinances, orders, rules, regulations and the like, as well as principals of common law, and any judicial or administrative orders, decrees or judgments thereunder, ,
relating to (i) the pollution, protection or cleanup of the environment, (ii) the impact of the Use or Release of Hazardous Substances on property, health or safety, (iii) the Use or Release of Hazardous Substances,
(iv) occupational safety and health, industrial hygiene or the protection of human, plant or animal health or welfare (each solely to the extent related to the Use or Release of Hazardous Substances), or (v) the liability for or costs of
other actual or threatened danger to health or the environment. The term “Environmental Law” includes, but is not limited to, the following statutes, as amended, any successors thereto, and any regulations promulgated pursuant
thereto, and any state or local statutes, ordinances, rules, regulations and the like addressing similar issues: the Comprehensive Environmental Response, Compensation, and Liability Act; the Emergency Planning and Community Right-to-Know Act; the
Hazardous Materials Transportation Act; the Resource Conservation and Recovery Act (including but not limited to Subtitle I relating to underground storage tanks); the Clean Water Act; the Clean Air Act; the Toxic Substances Control Act; the Safe
Drinking Water Act; the Occupational Safety and Health Act (to the extent related to exposure to Hazardous Substances); the Federal Water Pollution Control Act; the Federal Insecticide, Fungicide and Rodenticide Act; the Endangered Species Act; the
National Environmental Policy Act; and the River and Harbors Appropriation Act. The term “Environmental Law” also includes, but is not limited to, federal state and local laws, statutes ordinances, rules, regulations and the like,
as well as principals of common law, conditioning transfer of property upon a negative declaration or other approval of a Governmental Authority of the environmental condition of a property; or requiring notification or disclosure of Releases of
Hazardous Substances or other environmental conditions of a property to any Governmental Authority or other Person, whether or not in connection with transfer of title to or interest in property. 

  
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 The term “Hazardous Substances” means any and all substances (whether solid,
liquid or gas) defined, listed, or otherwise classified as hazardous wastes, hazardous substances, hazardous materials, extremely hazardous wastes, toxic substances, toxic pollutants, contaminants, pollutants or words of similar meaning or
regulatory effect under applicable Environmental Laws or the presence of which on, in or under the Property is prohibited or requires investigation or remediation under applicable Environmental Law, including petroleum and petroleum by-products,
asbestos and asbestos-containing materials, toxic mold, polychlorinated biphenyls, lead and radon, and compounds containing them (including gasoline, diesel fuel, oil and lead-based paint), pesticides and radioactive materials, flammables and
explosives and compounds containing them, but excluding, those substances commonly used in the operation and maintenance of properties of kind and nature similar to those of the Properties that are used at the Properties in material compliance with
all Environmental Laws and in a manner that does not result in any material contamination of any Property or in a Material Adverse Effect. 

The term “Indemnified Parties” means Lender and any Person who is or will have been involved in the origination of the Loan,
any Person who is or will have been involved with the servicing of the Loan, Persons who may hold or acquire or will have held a full or partial interest in the Loan, or following a foreclosure or assignment in lieu of foreclosure, the Collateral
(including, but not limited to, custodians, trustees and other fiduciaries who hold or have held a full or partial interest in the Loan or the Collateral for the benefit of third parties) as well as the respective officers, partners, members,
directors, trustees, advisors, employees, agents, sub-agents, affiliates, successors and assigns of any and all of the foregoing; provided, however, that successors and assigns shall not include any third party other than Lender or any affiliate of
Lender who purchases title to the Collateral pursuant to a foreclosure or from Lender (other than any affiliate of Lender) after Lender has acquired title to the Collateral through foreclosure, assignment in lieu of foreclosure or the exercise of
any remedies available to Lender under any of the Loan Documents. 
 The term “Legal Action” means any claim, suit or
proceeding, whether administrative or judicial in nature. 
 The term “Losses” means any actual, documented out-of-pocket
losses, damages (excluding special, consequential or punitive damages, except to the extent imposed upon the Indemnified Parties by one or more third parties), costs, fees (including reasonable fees of attorneys, engineers and environmental
consultants), expenses, claims, suits, judgments, awards, liabilities (including, but not limited, to strict liabilities), obligations, debts, fines, penalties, charges, costs of Remediation (whether or not performed voluntarily), amounts paid in
settlement, litigation costs, and investigation costs, of whatever kind or nature, and whether or not incurred in connection with any judicial or administrative proceedings, actions, claims, suits, judgments or awards. 

The term “Release” means any release, deposit, discharge, emission, leaking, leaching, spilling, seeping, migrating,
injecting, pumping, pouring, emptying, escaping, dumping, or other disposing of Hazardous Substances into the indoor or outdoor environment. 

  
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 The term “Remediation” means any response, remedial removal, or corrective
action (as such terms are defined under applicable Environmental Law); any activity to clean up, detoxify, decontaminate, contain or otherwise remediate any Hazardous Substance (including any inspection, investigation, study, monitoring, assessment,
audit, sampling and testing, laboratory or other analysis, or evaluation relating thereto); any actions to cure or mitigate any Release of any Hazardous Substance; and any action to correct noncompliance with any Environmental Laws or with any
permits issued pursuant thereto. 
 7. Unimpaired Liability. The liability of Indemnitor under this Agreement shall in no way be
limited or impaired by, and Indemnitor hereby consents and agrees to and shall be bound by, any amendment, replacement or modification of the provisions of the Note, the Loan Agreement or any other Loan Document entered into by (x) Borrower or
any Person who succeeds Borrower or any Person as owner of the Collateral or (y) any other Person party to such Loan Document. In addition, the liability of Indemnitor under this Agreement shall in no way be limited or impaired by (i) any
extensions of time for performance required by the Note, the Loan Agreement or any of the other Loan Documents, (ii) any sale or transfer of all or part of the Collateral, except as provided in Section 9(b), (iii) the accuracy or
inaccuracy of the representations and warranties made by Borrower under the Note, the Loan Agreement or any of the other Loan Documents or herein, (iv) the release of Borrower or any other Person from performance or observance of any of the
agreements, covenants, terms or condition contained in any of the other Loan Documents by operation of law, Lender’s voluntary act, or otherwise, or (v) the release or substitution in whole or in part of any security for the Note, in each
case, except as required by this Agreement or the other Loan Documents. Indemnitor agrees that a separate action may be brought to enforce the provisions of this Agreement, including, without limitation, an action in accordance with the provisions
of California Code of Civil Procedure Section 736 (if applicable), which separate action shall in no way be deemed to be an action within the meaning of California Code of Civil Procedure Section 726(a), or constitute a money judgments for
deficiency or a deficiency judgment within the meaning of California Code of Civil Procedure Sections 580a, 580b, 580d, or 726(b). 
 8.
Enforcement. (a) To the extent not prohibited by applicable Legal Requirements, the Indemnified Parties may enforce the obligations of Borrower without first resorting to or exhausting any security or collateral or without first having
recourse to the Note, the Loan Agreement or any other Loan Documents, through foreclosure proceedings or otherwise. Except as expressly set forth herein, it is not necessary for an Event of Default to have occurred pursuant to and as defined in the
Loan Agreement for any Indemnified Party to exercise its rights pursuant to this Agreement. Indemnitor hereby acknowledges and agrees that Indemnitor is fully and personally liable for the obligations thereunder, and any liability hereunder is not
limited to the original or amortized principal balance of the Loan or the value of the Collateral. 
 (b) Notwithstanding anything to the
contrary set forth herein, this Agreement is not and shall not be deemed to be secured by the Pledge Agreement. Without limiting any of the remedies provided in the Loan Documents, Indemnitor acknowledges and agrees that the provisions of this
Agreement are environmental provisions made by Indemnitor relating to the Property (the “Environmental Provisions”). Indemnitor’s breach or a failure to comply with the Environmental Provisions shall constitute a breach of
contract entitling the Indemnified Parties 

  
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to all remedies for the recovery of damages and for the enforcement of the Environmental Provisions. The Indemnified Parties’ actions for recovery of damages or enforcement of the
Environmental Provisions shall not constitute an action nor constitute a money judgment for a deficiency or a deficiency judgment. All remedies provided for by the Loan Documents are separate and distinct causes of action that are not abrogated,
modified, limited or otherwise affected by the remedies provided herein. 
 (c) Notwithstanding any provision of the Loan Documents, the
obligations pursuant to this Agreement are exceptions to any non-recourse or exculpation provisions of the Loan Agreement. Indemnitor is fully and personally liable for all such obligations. 

9. Survival. Subject to the next sentence of this Section 9, the obligations and liabilities of Indemnitor under this
Agreement shall survive the payment in full of the Indebtedness. Notwithstanding the provisions of this Agreement to the contrary, if, (a) at any time after the fourth (4th) anniversary
of repayment in full of the Indebtedness, whether at maturity, as a result of acceleration, in connection with prepayment or otherwise, (b) with respect to any Release Collateral that is released from the lien of the Pledge Agreement in
accordance with the terms of the Loan Agreement, at any time after the fourth (4th) anniversary of the effective date of the release of such Release Collateral, or (c) in the event
Sponsor is replaced in accordance with the terms of the Loan Agreement, upon the delivery to Indemnitee of a replacement environmental indemnity substantially in the form hereof and otherwise reasonably acceptable to Indemnitee by such Person
acceptable to Indemnitee in its reasonable discretion, at any time after the fourth (4th) anniversary of the effective date of such replacement environmental indemnity, Indemnitee is provided
with an updated Environmental Report of the related Property indicating to Indemnitee’s reasonable satisfaction that there are no Hazardous Substances located on, in, above or under such Property in violation of any applicable Environmental
Laws or constituting a recognized environmental condition (except for Hazardous Substances to the extent specifically identified in the executive summary or conclusions section of the Environmental Report delivered to Lender on the Closing Date),
then the obligations and liabilities of Indemnitor under this Agreement shall cease and terminate with respect to such Property. In addition and notwithstanding anything to the contrary contained in this Agreement, Indemnitor shall have no liability
under this Agreement for (i) any act, event or condition first arising on or after (and not prior to) the earliest to occur of the date: (a) of the transfer of title to one hundred percent (100%) of the Properties to Mortgage Lender
(or any of its affiliates or designees or a purchaser at foreclosure) pursuant to a foreclosure, deed in lieu of foreclosure, exercise of power of sale or otherwise of Lender’s lien under the Loan Documents or (b) of the transfer of title
to one hundred percent (100%) of the Collateral to Lender (or any of its affiliates or designees or a purchaser at foreclosure) pursuant to a foreclosure, assignment-in-lieu of foreclosure, exercise of power of sale or otherwise of
Lender’s lien under the Loan Documents, and (ii) where such act, event or condition referred to in clause (i) was not caused by actions or omissions of Indemnitor, Mortgage Borrower, Master Tenant, or any of their respective
Affiliates. 
 10. Intentionally Omitted. 

  
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 11. Waivers. To the extent not prohibited by applicable Legal Requirements, Indemnitor
hereby waives (a) any right or claim of right to cause a marshaling of its assets or to cause Lender or the other Indemnified Parties to proceed against any of the security for the Loan before proceeding under this Agreement against Borrower;
(b) all rights and remedies accorded by applicable law to indemnitors or guarantors, except any rights of subrogation that Borrower may have, provided that the indemnity provided for hereunder shall neither be contingent upon the existence of
any such rights of subrogation nor subject to any claims or defenses whatsoever that may be asserted in connection with the enforcement or attempted enforcement of such subrogation rights, including any claim that such subrogation rights were
abrogated by any acts of any of the Indemnified Parties; (c) the right to assert a counterclaim, other than a mandatory or compulsory counterclaim, in any action or proceeding brought against or by any of the Indemnified Parties;
(d) notice of acceptance hereof and of any action taken or omitted in reliance hereon; (e) presentment for payment, demand of payment, protest or (unless expressly required hereby) notice of nonpayment or failure to perform or observe, or
other proof, or notice or demand; and (f) all homestead exemption rights against the obligations hereunder and the benefits of any statutes of limitations or repose. Notwithstanding anything to the contrary contained herein, Indemnitor shall
postpone the exercise of any rights of subrogation with respect to any collateral securing the Loan until the Loan shall have been repaid in full. No delay by any Indemnified Party in exercising any right, power or privilege under this Agreement
shall operate as a waiver of any such privilege, power or right. 
 12. Subrogation. Indemnitor shall take any and all reasonable
actions, including institution of legal action against third parties, necessary or appropriate to obtain reimbursement, payment or compensation from such Persons responsible for any liability arising out of the presence of any Hazardous Substances
at, in, on or under the Property or otherwise obligated by law to bear the cost. The Indemnified Parties shall be and hereby are subrogated to all of the rights of Indemnitor now or hereafter in such claims. 

13. Representations and Warranties. Indemnitor jointly and severally represents and warrants as of the date hereof that: 

(a) Indemnitor has the full power and authority to execute and deliver this Agreement and to perform its obligations hereunder; the execution,
delivery and performance of this Agreement by Indemnitor has been duly and validly authorized; and all requisite action has been taken by Indemnitor to make this Agreement valid and binding upon Indemnitor; 

(b) Indemnitor’s execution of, and compliance with, this Agreement will not result in the breach of any term or provision of the
certificate of limited liability company, certificate of incorporation, limited liability company agreement, charter, by-laws, partnership or trust agreement, or other governing instrument of Indemnitor or result in the material breach of any term
or provision of, or conflict with or constitute a default under, or result in the acceleration of any material obligation under, any agreement, indenture or loan or credit agreement or other instrument to which Mortgage Borrower, Borrower, Sponsor,
the Collateral or the Property is subject, or result in the violation of any law, rule, regulation, order, judgment or decree to which Mortgage Borrower, Borrower, the Collateral or the Property is subject; 

  
 11 

 (c) to Indemnitor’s knowledge, there is no action, suit, proceeding or investigation pending
or threatened in writing against Borrower that, either in any one instance or in the aggregate, may result in a Material Adverse Effect, or that would draw into question the validity of this Agreement or of any material action taken or to be taken
in connection with the obligations of Indemnitor contemplated herein, or that would be reasonably likely to impair materially the ability of Borrower to perform under the terms of this Agreement; 

(d) to Indemnitor’s knowledge, no approval, authorization, order, license or consent of, or registration or filing with, any Governmental
Authority or other person, and no approval, authorization or consent of any other party is required in connection with this Agreement other than those obtained prior to the execution hereof; and 

(e) this Agreement constitutes a valid, legal and binding obligation of Indemnitor , subject to principles of equity and bankruptcy, insolvency
and other laws generally applicable to creditors’ rights. 
 14. No Waiver. No delay by any Indemnified Party in exercising any
right, power or privilege under this Agreement shall operate as a waiver of any such privilege, power or right. 
 15. Notice of Legal
Actions. Each party hereto shall, within ten (10) business days of receipt thereof, give notice to the other parties hereto of (i) any written notice, advice or other communication from any Governmental Authority or any source
whatsoever with respect to Hazardous Substances on, from or affecting the Property in violation of Environmental Law, and (ii) any Legal Action brought against such party or related to the Property, with respect to which Borrower may have
liability under this Agreement. Such notice shall comply with the provisions of Section 16 hereof. 
 16. Notices. All
notices, consents, approvals and requests required or permitted hereunder shall be given in writing by expedited prepaid delivery service, either commercial or United States Postal Service, with proof of delivery or attempted delivery, addressed as
follows (or at such other address and person as shall be designated from time to time by any party to this Agreement, as the case may be, in a written notice to the other parties to this Agreement in the manner provided for in this Section). A
notice shall be deemed to have been given when delivered or upon refusal to accept delivery. 
  

			
	If to Lender:	  	Brigade Leveraged Capital Structures Fund Ltd.
		  	Brigade Credit Fund II Ltd.
		  	Brigade Structured Credit Fund Ltd.
		  	Los Angeles County Employees Retirement Association,
		  	Brigade Distressed Value Master Fund Ltd.
		  	The Coca-Cola Company Master Retirement Trust
		  	Fedex Corporation Employees’ Pension Trust
		  	Delta Master Trust
		  	Brigade Opportunistic Credit Fund - ICIP, Ltd.
		  	 Brigade Opportunistic Credit Fund 16 LLC
  

c/o Brigade Capital Management, LP

		  	399 Park Avenue, 16th Floor
		  	New York, NY 10022

  
 12 

 
			
	with a copy to:	  	Milbank, Tweed, Hadley & McCloy LLP
		  	2029 Century Park East, 33rd Floor
		  	Los Angeles, CA 90067
		  	Attention: Eric R. Reimer
		
	If to Indemnitor:	  	Toys “R” Us, Inc.
		  	1 Geoffrey Way
		  	 Wayne, New Jersey 07470
 Attention:
Treasurer

		
	and:	  	Giraffe Junior Holdings, LLC
		  	1 Geoffrey Way
		  	 Wayne, New Jersey 07470
 Attention: General
Counsel

		
	with a copy to:	  	Latham & Watkins LLP
		  	885 Third Avenue
		  	New York, NY 10022-4834
		  	Attention: James I. Hisiger, Esq.

 17. Duplicate Originals; Counterparts; Facsimile Signatures. This Agreement may be executed in
any number of duplicate originals and each duplicate original shall be deemed to be an original. This Agreement may be executed in several counterparts, each of which counterparts shall be deemed an original instrument and all of which together
shall constitute a single Agreement. Any counterpart delivered by facsimile, pdf or other electronic means shall have the same import and effect as original counterparts and shall be valid, enforceable and binding for the purposes of this Agreement.

 18. No Oral Change. This Agreement, and any provisions hereof, may not be modified, amended, waived, extended, changed, discharged
or terminated orally or by any act or failure to act on the part of Borrower or any Indemnified Party, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change,
discharge or termination is sought. 
 19. Headings, Etc. The headings and captions of Sections of this Agreement are for convenience
of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 
 20.
Rules of Construction / Successors and Assigns. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the person or persons referred to may require. All
references to sections, schedules and exhibits are to sections, schedules and exhibits in or to this Agreement unless otherwise specified. Unless otherwise specified: (i) all meanings attributed to defined terms in this Agreement shall be
equally applicable to both the singular and plural forms of the terms so defined, (ii) “including” means “including, but not limited to” and “including, without 

  
 13 

 
limitation” and (iii) the words “hereof,” “herein,” “hereby,” “hereunder” and words of similar import when used in this Agreement shall refer to
this Agreement as a whole and not to any particular provision, article, section or other subdivision of this Agreement. Without limiting the effect of specific references in any provision of this Agreement, the term “Indemnitor” shall be
deemed to refer to each and every Person comprising Indemnitor from time to time, as the sense of a particular provision may require, and to include the successors and assigns of either Indemnitor, all of whom shall be bound by the provisions of
this Agreement, provided that Indemnitor may not assign its obligations hereunder except in accordance with the Loan Agreement. Subject to Section 9, this Agreement shall inure to the benefit of the Indemnified Parties and their respective
successors and assigns forever. 
 21. Release of Liability. Any one or more parties liable upon or in respect of this Agreement may
be released without affecting the liability of any party not so released. 
 22. Rights Cumulative. The rights and remedies herein
provided are cumulative and not exclusive of any rights or remedies that Lender has under the Note, the Loan Agreement or the other Loan Documents or would otherwise have at law or in equity. 

23. Inapplicable Provisions. If any term, condition or covenant of this Agreement shall be held to be invalid, illegal or unenforceable
in any respect, this Agreement shall be construed without such provision. 
 24. Governing Law; Waiver of Trial by Jury. (a) THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CHOICE OF LAW RULES (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) TO THE EXTENT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 (b) ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR INDEMNITOR ARISING OUT OF OR
RELATING TO THIS AGREEMENT SHALL BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK. LENDER AND INDEMNITOR HEREBY (i) IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT THEY MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND (ii) IRREVOCABLY SUBMIT TO THE
JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING. EACH INDEMNITOR DOES HEREBY DESIGNATE AND APPOINT: 
 Corporation
Service Company 
 2711 Centerville Road, Suite 400 

Wilmington, DE USA 19808 

  
 14 

 AS ITS RESPECTIVE AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL
PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO SUCH
INDEMNITOR IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON SUCH INDEMNITOR, IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. 

(c) INDEMNITOR AND LENDER, TO THE FULLEST EXTENT THAT IT MAY LAWFULLY DO SO, HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF
RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS AGREEMENT, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT
TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY INDEMNITOR AND LENDER AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. THE INDEMNIFIED PARTIES AND
INDEMNITOR ARE HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY INDEMNITOR AND LENDER. 

25. Miscellaneous. (a) Wherever pursuant to this Agreement (i) Lender exercises any right given to it to approve or
disapprove, (ii) any arrangement or term is to be satisfactory to Lender, or (iii) any other decision or determination is to be made by Lender, the decision of Lender to approve or disapprove, all decisions that arrangements or terms are
satisfactory or not satisfactory and all other decisions and determinations made by Lender, shall be in the sole and absolute discretion of Lender, except as may be otherwise expressly and specifically provided herein. 

(b) Wherever pursuant to this Agreement it is provided that Borrower pay any costs and expenses, such costs and expenses shall include, but not
be limited to, reasonable legal fees and disbursements of Lender’s retained firms. 
 (c) All obligations and liabilities hereunder of
the parties comprising Indemnitor shall be joint and several. 

  
 15 

 26. State Specific Provisions. In the event of any inconsistencies between the terms and
conditions of this Section 26 and the other terms and conditions of this Agreement, the terms and conditions of Section 26 shall control and be binding. 

1. With respect to the foregoing provisions contained in this Agreement, the following shall apply with respect to the State of California:

 a. Waivers. Each Indemnitor hereby waives: 

(1) an election of remedies by any Indemnified Party, even though that election of remedies, such as a non-judicial foreclosure with respect
to any security for the Loan (whether such security is real property or personal property), for a guaranteed obligation, has destroyed the guarantor’s rights of subrogation and reimbursement against the principal by the operation of
Section 580d of the California Code of Civil Procedure or otherwise; 
 (2) any defense based upon any statute or rule of law which
provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; 

(3) WITHOUT LIMITING THE GENERALITY OF THE FOREGOING OR ANY OTHER PROVISION HEREOF, TO THE EXTENT PERMITTED BY LAW, EACH INDEMNITOR EXPRESSLY
WAIVES AND AGREES NOT TO ASSERT ANY AND ALL RIGHTS AND DEFENSES ARISING DIRECTLY OR INDIRECTLY UNDER ANY ONE OR MORE OF CALIFORNIA CIVIL CODE SECTIONS 2787 TO 2855 INCLUSIVE AND CHAPTER 2 OF TITLE 14, 2899 AND 3433 AND UNDER CALIFORNIA CODE OF CIVIL
PROCEDURE SECTIONS 580A, 580B, 580D AND 726; 
 (4) any defense, set off, counterclaim, or claim, of any kind or nature, arising directly or
indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the Indebtedness or any security therefor; or 

(5) the benefit of any statute of limitations affecting such Indemnitor’s liability hereunder or the enforcement thereof, and any act
which shall defer or delay the operation of such statute of limitations applicable to Indemnitor’s liability hereunder. 
 The parties
hereto acknowledge and agree that the obligations of Indemnitor set forth in this Agreement are direct obligations and are not intended to be guaranteed or suretyship obligations. 

b. Loan Amount No Limitation. The amount of the Indemnitor’s liability under this Agreement is unrelated to, and independent of,
the amount of any loss that the Indemnified Parties may suffer by reason of the failure of the Loan to be repaid in full, and shall not be determined by reference to the amount of any Loan loss. No amount paid to any Indemnified Party pursuant to
this Agreement shall be considered to be paid on account of the Loan or any deficiency or loss suffered by the Indemnified Parties by reason of the failure of the Loan to be repaid in full. The enforcement of this Agreement by any Indemnified Party
shall not be construed as an indirect attempt to recover any such Loan loss. The Indemnitor acknowledges that the Indemnitor may have liability under this Agreement even if the Loan is repaid in full by reason of a full credit bid at any foreclosure
sale under the Pledge Agreement, and that the amount of the Indemnitor’s liability hereunder could exceed the entire amount paid by the Indemnitor for the Collateral. 

c. Legal Effect of Agreement. The Indemnitor and the Indemnified Parties agree that: (a) this Agreement is intended as the
Indemnified Parties’ written request for information (and the Indemnitor’s response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.5; and
(b) each provision in this Agreement (together with any indemnity applicable to a breach of any such 

  
 16 

 
provision) with respect to the environmental condition of the real property security is intended by the Indemnified Parties and the Indemnitor to be an “environmental provision” for
purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that the Indemnitor’s duty to indemnify the Indemnified Parties hereunder shall survive but only as to matters arising prior to:
(i) any judicial or non-judicial foreclosure under the Pledge Agreement, or transfer of the Collateral (or any portion thereof) in lieu thereof; (ii) the release and reconveyance or cancellation of the Mortgages; and (iii) the
satisfaction of all of the Indemnitor’s obligations under the Note, the Pledge Agreement, the Loan Agreement and the other Loan Documents. 

d. Inspection Rights. The Indemnified Parties shall have the right to enter and inspect the Property for any Hazardous Materials
pursuant to California Civil Code Section 2929.5, to obtain a court order to enforce that right, and to have a receiver appointed pursuant to California Code of Civil Procedure Section 564 to enforce the Indemnified Parties’ right to
enter and inspect any of the Properties, subject to the rights of tenants in possession. 
 e. Remedies. Upon any breach of this
Agreement, the Indemnified Parties shall have the right to commence and maintain an action or actions in any court of competent jurisdiction for breach of contract pursuant to California Code of Civil Procedure Section 736, whether commenced
prior to foreclosure of the Collateral or after foreclosure of the Collateral, and to seek the recovery of any and all costs, damages, expenses, fees, penalties, fines, judgments, indemnification payments to third parties, and other out of pocket
costs or expenses actually incurred or advanced by the Indemnified Parties (collectively, the “Environmental Costs”) relating to the cleanup, remediation or other response action required by any Environmental Laws or which the
Indemnified Parties reasonably believes necessary to protect the Property. 
 The Indemnitor acknowledges and agrees that notwithstanding
any term or provision contained herein or in the Note, the Pledge Agreement, the Loan Agreement and the other Loan Documents or any other document executed in connection with the Loan, the Environmental Costs shall be exceptions to any non-recourse
or exculpatory provision and the Indemnitor shall be fully and personally liable for the Environmental Costs hereunder and such liability shall not be limited to the original principal amount of the obligations secured by the Pledge Agreement. 

This Agreement is not collateral or security for the Indebtedness of Borrower pursuant to the Loan unless the Indemnified Parties expressly
elects in writing to make this Agreement additional collateral or security for the Indebtedness of Borrower pursuant to the Loan, which the Indemnified Parties is entitled to do in its sole discretion. 

f. Remedies Upon Environmental Impairment. Upon any Event of Default under the Note, the Pledge Agreement, the Loan Agreement or the
other Loan Documents or any other document executed in connection with the Loan, in addition to any other remedies provided therein and applicable law, the Indemnified Parties shall have the right to waive its lien against the Collateral or any
portion thereof, to the extent any related Property is found to be environmentally impaired in accordance with California Code of Civil Procedure Section 726.5 and to exercise any and all rights and remedies of an unsecured creditor against the

  
 17 

 
Indemnitor and all of the Indemnitor’s assets and properties for the recovery of any deficiency, including, but not limited to, seeking an attachment order pursuant to California Code of
Civil Procedure Section 483.010. The Indemnitor acknowledges and agrees that notwithstanding any term or provision contained herein or in the Note, the Pledge Agreement, the Loan Agreement or other Loan Documents or any other document executed
in connection with the Loan, all judgments and awards entered against the Indemnitor under this Section and California Code of Civil Procedure Section 726.5 shall be exceptions to any non recourse or exculpatory provisions of the Note, and the
Indemnitor shall be fully and personally liable for all such judgments and awards entered against the Indemnitor. 
 g. California Code
Sections. This Agreement is intended to be cumulative of any rights of the Indemnified Parties under California Code of Civil Procedure Sections 564, 726.5 and 736 and under California Civil Code Section 2929.5. The Indemnitor hereby agrees
that its liability hereunder shall not be affected by any restrictions or limitations which such statutes may contain. 
 h.
Survival. The indemnity in this Agreement is intended to be operable under 42 U.S.C. 9607(e)(1), and any successor section thereof, and shall survive the foreclosure, release or reconveyance of the Pledge Agreement, whether by payment of the
Loan or any assignment in lieu of foreclosure of the Collateral (or any portion thereof). 
 i. Border Zone Properties. The
Indemnitor represents and warrants to the Indemnified Parties that none of the Properties has been designated as Border Zone Property under the provisions of California Health and Safety Code, Sections 25220 et seq. or any regulation adopted in
accordance therewith. 
 2. With respect to the foregoing provisions contained in this Agreement, the following shall apply with respect to
the State of Connecticut: 
 a. INDEMNITOR HEREBY ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS AGREEMENT IS A PART IS A COMMERCIAL
TRANSACTION, AND HEREBY WAIVE THEIR RIGHT TO NOTICE AND HEARING UNDER CHAPTER 903a OF THE CONNECTICUT GENERAL STATUTES, OR AS OTHERWISE ALLOWED BY ANY STATE OR FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE LENDER OR ITS SUCCESSORS OR
ASSIGNS MAY DESIRE TO USE. 
 3. With respect to the foregoing provisions contained in this Agreement, the following shall apply with respect
to the Commonwealth of Massachusetts: 
 a. For purposes of any of the Properties in the Commonwealth of Massachusetts, the term
“Environmental Law” shall also include the Massachusetts Oil and Hazardous Materials Release, Prevention and Response Act, M.G.L. c. 21E; the Massachusetts Hazardous Waste Management Act, M.G.L. c. 21C; the Massachusetts Clean Waters Act,
M.G.L. c. 21, §§26-53; and the Massachusetts Air Pollution Control Laws, M.G.L. c. 111, §§ 142A-142M, each as amended, any successor thereto, and any regulations promulgated pursuant thereto. 

  
 18 

 4. With respect to the foregoing provisions contained in this Agreement, the following shall
apply with respect to the State of New Jersey: 
 a. For purposes of the Property in the State of New Jersey, the term “Environmental
Law” shall also include the Spill Compensation Control Act, N.J.S.A. 58:10-23.11 et seq.; the Water Pollution Control Act, N.J.S.A. 58:10A-1 et seq.; the Solid Waste Management Act, N.J.S.A. 13:1E-1, et seq.; and the Site Remediation Reform
Act, N.J.S.A. 58:10C-1 et seq. and the Industrial Site Recovery Act, N.J.S.A. 13:1K-6 et seq., and their implementing regulations at N.J.A.C. 7:26B-1.1 et seq.; N.J.A.C. 7:26C-1.1 et seq.; and N.J.A.C. 7:26E-1.1, et seq., each as amended. 

5. With respect to the foregoing provisions contained in this Agreement, the following shall apply with respect to the State of Oregon: 

a. For purposes of the Property in the State of Oregon, the term “Environmental Law” shall include the Solid Waste Management Act
(ORC Chapter 459), the Refuse and Recycling Act (ORC Chapter 459A), the Hazardous Waste and Hazardous Materials I Act (ORC Chapter 465), the Hazardous Waste and Hazardous Materials II Act (ORC Chapter 466), the Noise Control Act (ORC Chapter 467),
the Environmental Quality Generally (ORC Chapter 468), the Air Quality Act (ORC Chapter 468A), the Water Quality Act (ORC Chapter 468B), the Illegal Drug Cleanup Act (ORC Chapter 475), the Wildlife Act (ORC Chapter 496), the Wildlife Protection
Measures Act (ORC Chapter 498) and the amendments, regulations, orders, decrees, permits, licenses, guidance documents or deeds now or hereafter promulgated thereunder, as applicable, all as amended from time to time. 

b. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY LENDER CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR
PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY INDEMNITOR’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF BORROWER TO BE ENFORCEABLE. 

c. Time is of the essence in this Agreement. 

d. This Agreement is not secured by the Pledge Agreement. 

6. With respect to the foregoing provisions contained in this Agreement, the following shall apply with respect to the Commonwealth of
Pennsylvania: 
 a. For purposes of the Property in the Commonwealth of Pennsylvania, the term “Environmental Law” shall also
include, without limitation, the Pennsylvania Hazardous Sites Cleanup Act, 35 P.S. 6020.101 et seq.; the Pennsylvania Solid Waste Management Act, 35 P.S. 6018.101 et seq.; the Pennsylvania Clean Streams Law, 35 P.S. 691.1 et seq.; the Pennsylvania
Storage Tank and Spill Prevention Act, 35 P.S. 6021.101 et seq.; the Pennsylvania Sewage Facilities Act, 35 P.S. 750.1 et seq.; and the Pennsylvania Dam Safety and Encroachments Act, 32 P.S. 693.1 et seq. 

  
 19 

 7. With respect to the foregoing provisions contained in this Agreement, the following shall
apply with respect to the State of South Carolina: 
 a. For purposes of the Property in the State of South Carolina, the term
“Environmental Law” shall also include the South Carolina Pollution Control Act, S.C. Code Ann. Section 48-1-10 et seq. 
 b.
EACH INDEMNITOR HEREBY WAIVES AND RELINQUISHES ANY AND ALL STATUTORY APPRAISAL RIGHTS WHICH MEANS THE HIGH BID AT THE JUDICIAL FORECLOSURE SALE WILL BE APPLIED TO THE INDEBTEDNESS REGARDLESS OF ANY APPRAISED VALUED OF THE INDIVIDUAL PROPERTY AND/OR
PROPERTIES. 
 c. EACH INDEMNITOR ACKNOWLEDGES AND AFFIRMS THAT IT RECEIVED WRITTEN NOTIFICATION BEFORE THE TRANSACTION THAT A WAIVER OF
STATUTORY APPRAISAL RIGHTS WAS REQUIRED IN ACCORDANCE WITH THE PROVISIONS OF S.C. CODE ANN. SECTION 29-3-680. 
 8. With respect to the
foregoing provisions contained in this Agreement, the following shall apply with respect to the State of Texas: 
 a. For purposes of the
Property located in the State of Texas, the term “Environmental Law” shall include and any corresponding state laws or ordinances including but not limited to the Texas Water Code § 26.001 et seq.; Texas Health & Safety Code
§ 361.001 et seq.; and Texas Solid Waste Disposal Act, Tex. Rev. Civ. Stat. Ann. art. 4477-7. 
 9. With respect to the foregoing
provisions contained in this Agreement, the following shall apply with respect to the State of Wisconsin: 
 For purposes of the Property in
the State of Wisconsin, the term “Environmental Law” shall also include Chapter 23, Chapter 30, Chapter 160, Chapter 254 and Chapters 280 to 299 of the Wisconsin Statutes, Chapters NR 100 to 800 of the Wisconsin Administrative Code, and
all other state, county, municipal, local or other law, ordinance or regulation which may relate to or deal with human health or the environment in the State of Wisconsin, and the amendments, regulations, orders, decrees, permits, licenses, guidance
documents or deeds now or hereafter promulgated thereunder, as applicable, all as amended from time to time. 
 [Signatures on following
page] 

  
 20 

 IN WITNESS WHEREOF, this Agreement has been executed by Indemnitor and is effective as of the day
and year first above written. 
  

			
	 BORROWER:
  

GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company

		
	By:	 	 /s/ James M. Young

		 	Name: James M. Young
		 	 Title:  Vice President – Corporate Counsel and Assistant Secretary

	
	 SPONSOR: 
  

TOYS “R” US, INC., a Delaware corporation

		
	By:	 	 /s/ Chetan Bhandari

		 	Name: Chetan Bhandari
		 	 Title:  Senior Vice President – Corporate Finance and TreasurerEX-10.7

 Exhibit 10.7 

PLEDGE AND SECURITY AGREEMENT 

(Mezzanine Loan) 
 THIS
PLEDGE AND SECURITY AGREEMENT (Mezzanine Loan) (this “Agreement”) is made as of November 3, 2016, by GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company (“Borrower”), in favor of
BRIGADE LEVERAGED CAPITAL STRUCTURES FUND LTD., BRIGADE CREDIT FUND II LTD., BRIGADE STRUCTURED CREDIT FUND LTD., LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION, BRIGADE DISTRESSED VALUE MASTER FUND LTD., THE COCA-COLA COMPANY MASTER
RETIREMENT TRUST, FEDEX CORPORATION EMPLOYEES’ PENSION TRUST, DELTA MASTER TRUST, BRIGADE OPPORTUNISTIC CREDIT FUND—ICIP, LTD. and BRIGADE OPPORTUNISTIC CREDIT FUND 16 LLC (together with each of their respective successors and
assigns, collectively, “Lender”). 
 RECITALS 

A. WHEREAS, on the date hereof, Lender has made a loan to Borrower in the amount of $88,000,000.00 (the “Loan”) pursuant to
the terms of that certain Mezzanine Loan Agreement of even date herewith by and between Lender and Borrower (as amended, modified, supplemented or replaced from time to time, the “Loan Agreement”). 

B. WHEREAS, Toys “R” Us Property Company II, LLC, a Delaware limited liability company (“Issuer”), is the owner
and/or leasehold owner of certain parcels of real property more particularly described in the Loan Agreement. 
 C. WHEREAS, Issuer was
formed as a Delaware limited liability company and is governed by the terms and provisions of that certain Third Amended and Restated Limited Liability Company Agreement of Issuer, dated as of the date hereof (as amended, modified, supplemented or
restated in accordance with the terms of the Loan Agreement, the “Formation Agreement”). 
 D. WHEREAS, Borrower is the
legal and beneficial owner of 100% of the issued and outstanding membership interests in Issuer. 
 F. WHEREAS, Lender is unwilling to make
the Loan unless Borrower enters into this Agreement. 
 NOW, THEREFORE, for Ten Dollars ($10.00) and in consideration of the mutual
covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. Capitalized Terms. All capitalized terms used but not defined herein shall have the respective meanings ascribed thereto
in the Loan Agreement and, for the purposes of this Agreement, the following capitalized terms shall have the following meanings: 

 “Article 8 Matter” means any action, decision, determination or election by
Issuer or its member(s), shareholders or partners, as applicable, that its membership interests, partnership interests, stock or other equity interests, as applicable, be, or cease to be, a “security” as defined in and governed by
Article 8 of the Uniform Commercial Code, and all other matters related to any such action, decision, determination or election. 

“Bankruptcy Code” means Title 11 of the United States Code, as amended, modified, succeeded or replaced, from time to time.

 “Distributions” means all distributions (whether in cash or in kind) and all interest in respect of, and all proceeds
of, any instrument or interest constituting part of the Pledged Collateral, of whatever kind or description, real or personal, whether in the ordinary course or in partial or total liquidation or dissolution, or any recapitalization,
reclassification of capital, or reorganization or reduction of capital, or otherwise. 
 “Equity Interests” means all
limited liability company membership interests or other equity interests of, and all other right, title and interest of, Borrower in and to Issuer, including the interests described on Schedule 1 attached hereto. 

“Event of Default” shall have the meaning ascribed thereto in the Loan Agreement. 

“General Intangibles” shall have the meaning ascribed thereto in Article 9 of the UCC. 

“No-Action Letters” means various No-Action
Letters issued by the SEC staff as described in Section 14(b) below. 
 “Obligations” means Borrower’s
obligations provided in the Loan Agreement, the Note and the other Loan Documents to pay the Indebtedness payable to Lender in respect of the Loan thereunder, and to perform and observe all of the terms, covenants and provisions of each of the Loan
Documents, including the payment of interest that, but for the commencement of a case under the Bankruptcy Code, would accrue on such Indebtedness. 

“Pledged Collateral” means all of Borrower’s right, title and interest, whether now owned or hereafter acquired, in,
under and to (i) the Formation Agreement and the Equity Interests, including, without limitation, Borrower’s share of the profits, losses and capital of Issuer, and all Voting Rights, claims, powers, privileges, benefits, options or rights
of any nature whatsoever which currently exist or may be issued or granted by Issuer to Borrower, and all instruments, whether heretofore or hereafter acquired, evidencing such rights and interests, (ii) the Account Collateral, (iii) all
Distributions, (iv) all General Intangibles relating to the foregoing, (v) the proceeds (including claims against third parties), products and accessions of the foregoing, (vi) all replacements and substitutions of the foregoing,
(vii) all other rights appurtenant to the property described in foregoing clauses (i) through (vi), and (viii) any stock certificates, share certificates, limited liability company certificates, partnership certificates or other
certificates or instruments evidencing the foregoing. 

  
 2 

 “SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as it may be amended from time to time. 

“Security Interest” shall have the meaning ascribed thereto in Section 2 hereof. 

“Securities Laws” means the Securities Act and applicable state securities laws. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York. 

“Voting Rights” means all of Borrower’s rights under the Formation Agreement to vote and give approvals, consents,
decisions and directions and exercise any other similar right with respect to the Pledged Collateral. 
 Section 2. Pledge.
Borrower hereby grants, pledges, hypothecates, transfers and assigns to Lender a first priority perfected, continuing security interest in and lien on the Pledged Collateral and in all proceeds thereof (the “Security Interest”) as
collateral security for the prompt and complete repayment and performance when due (whether at the stated maturity or otherwise) of the Obligations. No filing or other action is or will be necessary to perfect such first priority security interest
of Lender in the Equity Interests that are represented by a certificate and that constitute certificated securities within the meaning of Article 8 of the UCC, except for delivery to Lender of the certificates evidencing the Equity Interests
endorsed or accompanied by appropriate powers duly endorsed in blank. The first priority security interest of Lender in any of the Pledged Collateral that is not represented by a certificate or that is otherwise not a “security” within the
meaning of Article 8 of the UCC, if any, shall be perfected by the filing of a financing statement or statements as hereinafter provided. 

Section 3. Distributions. Except during the continuance of an Event of Default or as otherwise set forth in the Loan Documents to
the contrary, Borrower shall have the right to receive Distributions, profits, losses, income, surplus, return on capital and all other proceeds paid in respect of the Pledged Collateral. Borrower hereby irrevocably authorizes and directs Issuer,
upon the occurrence and during the continuance of an Event of Default under the Loan Agreement, to distribute, transfer, pay and deliver directly to Lender, and not to Borrower, any and all Distributions at such time and in such manner as such
Distributions would otherwise be distributed, transferred, paid and delivered to Borrower, for application in accordance with the Loan Agreement. If, during the continuance of an Event of Default under the Loan Agreement or otherwise in
contravention of the Loan Documents, Borrower receives any Distributions, Borrower shall accept the same as Lender’s agent and hold the same in trust on behalf of and for the benefit of Lender and shall promptly deliver the same forthwith to
Lender for application in accordance with the Loan Agreement, together with appropriate forms of assignment, UCC financing statements, and other appropriate instruments, if necessary, indicating the Security Interests of Lender in and to such
Distribution. Borrower authorizes and directs Lender to apply any Distributions received by Lender in the manner described in the Loan Agreement. 

  
 3 

 Section 4. Voting Rights. 

(a) Borrower hereby collaterally assigns the Voting Rights to Lender, subject to the terms and provisions of this Agreement and the other Loan
Documents, provided that Lender may not exercise any such Voting Rights unless an Event of Default has occurred and is continuing. 
 (b)
Except during the continuance of an Event of Default, Borrower may exercise the Voting Rights, provided that Borrower shall not exercise the Voting Rights in a manner which would result in a violation of any provision of this Agreement, the Loan
Agreement or any other Loan Document. Upon the occurrence and during the continuance of an Event of Default, all rights of Borrower to exercise the Voting Rights shall cease and Lender shall have the right to exercise, in person or by its nominees
or proxies, all Voting Rights assigned to it hereunder and Lender shall exercise such Voting Rights in such manner as Lender in its sole discretion shall deem to be in Lender’s best interests (subject to the terms of this Agreement and the
other Loan Documents). Upon the occurrence and during the continuance of an Event of Default, Borrower shall effect the directions of Lender in connection with any such exercise in accordance with this Agreement. 

(c) In connection with Lender’s exercise of the Voting Rights, Borrower shall cause Issuer to rely on a notice from Lender stating that an
Event of Default has occurred and is continuing under the Loan Agreement or any other Loan Document, in which event no further direction from Borrower shall be required to effect the assignment of Voting Rights hereunder from Borrower to Lender, and
Issuer shall immediately permit Lender to exercise all of the Voting Rights in respect of the business and affairs of Issuer. If the applicable Event of Default is no longer continuing, Borrower shall again automatically have all of the rights to
exercise the Voting Rights and Lender shall so notify Issuer. 
 (d) Borrower acknowledges that, except for this Agreement and the other Loan
Documents, it has not entered into, and it is not bound by the terms of, any agreement or understanding, whether oral or written, with respect to the purchase, sale, transfer or voting of any Voting Rights. 

Section 5. Termination of Agreement. Immediately upon payment in full of all of the Obligations in accordance with the terms of
the Loan Agreement and the other Loan Documents, this Agreement (including, without limitation, any power-of-attorney or proxy given hereunder or in connection herewith) shall immediately cease, terminate and be of no further force or effect.
Thereafter, upon the request of Borrower and at Borrower’s sole cost and expense, Lender shall deliver to Borrower, without any representations, warranties or recourse of any kind whatsoever, such of the Pledged Collateral (including any
certificate or certificates evidencing the Equity Interests, if any, along with the partnership, membership or stock powers, as applicable, endorsed in blank, if any) as then may be held or controlled by Lender hereunder or under the other Loan
Documents, and execute and deliver to Borrower such documents as Borrower may reasonably request to evidence such termination, including, without limitation, UCC termination statements or similar documents to release Lender’s lien on the
Pledged Collateral; provided that if Lender has misplaced or is otherwise unable to deliver the Pledged Collateral (including any certificate or certificates evidencing the Equity Interests, along with the membership powers endorsed in blank),
Lender shall execute and deliver to Borrower a lost certificate affidavit and indemnity with respect to the Pledged Collateral containing 

  
 4 

 
commercially reasonable terms agreed upon by Lender and Borrower. Any Pledged Collateral released from the Lien of this Agreement, the Loan Agreement and the other Loan Documents in accordance
therewith pursuant to this Section 5 shall, effective upon such release, no longer be deemed “Pledged Collateral” for any purpose under this Agreement or the other Loan Documents. Lender agrees, at the request and sole cost and
expense of Borrower, to notify Issuer and any other third party reasonably requested by Borrower of such termination; provided that, if Borrower shall arrange for repayment of the Obligations in their entirety by a third party, at Borrower’s
request and at its sole cost and expense, Lender shall assign the Note, this Agreement and any other Loan Documents (to the extent requested by Borrower) to such third party, without recourse, representation or warranty. 

Section 6. Liability. The trustees, officers, directors, employees and agents of Lender shall have no personal liability under
this Agreement, except to the extent found by a final, non-appealable judgment of a court of competent jurisdiction to have arisen from Lender’s gross negligence or willful misconduct, and any obligation of Lender under this Agreement to
Borrower or Issuer shall be satisfied solely from the assets of Lender. 
 Section 7. Rights of Lender. 

(a) Lender shall not be liable for failure to collect or realize upon the Obligations or any collateral security or guarantee therefor, or any
part thereof, or for any delay in so doing nor be under any obligation to take any action whatsoever with regard thereto. Subject to the other provisions of this Agreement, the Loan Agreement and the other Loan Documents, any part or all of the
Pledged Collateral held by Lender may, without notice, but only during the existence of an Event of Default, be transferred into the name of Lender or its nominee and Lender or its nominee may thereafter without notice, exercise all Voting Rights
and other rights in respect of the Pledged Collateral, including the exercise of any and all rights of conversion, exchange, subscription or any other rights, privileges or options in respect of the Pledged Collateral, as if it were the absolute
owner thereof, all without liability except to account for property actually received by Lender or its nominee; provided, however, that Lender or its nominee shall have no duty to exercise any of the foregoing actions, or any liability for failure
to do so or delay in so doing. 
 (b) Lender shall not be liable for the consequence of any Voting Rights cast or given by Lender in
accordance with this Agreement, except for any such liability found by a final, non-appealable judgment of a court of competent jurisdiction to have resulted from Lender’s gross negligence, bad faith or willful misconduct. 

(c) Except as otherwise expressly set forth in this Agreement, and except to the extent found by a final, non-appealable judgment of a court of
competent jurisdiction to have been caused by Lender’s gross negligence, bad faith or willful misconduct, Lender shall have no liability to Borrower with respect to the receipt and application by Lender of Distributions, the holding by Lender
of any Pledged Collateral pursuant to and in accordance with this Agreement and the other Loan Documents, or Lender’s taking, or failure to take, any action (including the obtaining of insurance) with respect to any Pledged Collateral. 

  
 5 

 (d) Borrower hereby authorizes Lender in its absolute discretion, prior to the termination of
this Agreement pursuant to Section 5 hereof, (i) to file any and all financing and continuation statements in any jurisdiction or jurisdictions that Lender deems appropriate (including, without limitation, all initial financing
statements and continuation statements), naming Borrower as debtor, with respect to any of the Pledged Collateral (including such as may be necessary to renew, extend and continue the perfection of the Security Interest of Lender) without consent of
or authentication by Borrower and consents to a photocopy or other reproduction of this Agreement or of a financing statement being sufficient as a financing statement; and (ii) to file UCC financing statements indicating that the collateral
covered by such financing statements is “all assets in which Borrower now or hereafter has rights” or “all assets.” 

Section 8. Remedies. Upon the occurrence and during the continuance of an Event of Default, Lender, without demand of performance
or other demand, advertisement or notice of any kind (except as specified in the Loan Agreement, the other Loan Documents or as specified below or required by law) to or upon Borrower or any other Person (all and each of which demands,
advertisements and/or notices is hereby expressly waived to the extent permitted by applicable law), may, without obligation to resort to other security, and in addition to and not in limitation of any and all other remedies reserved to Lender
hereunder or at law or in equity, forthwith collect, receive, appropriate and realize upon the Pledged Collateral, or any part thereof, and/or may forthwith sell, assign, give an option or options to purchase, contract to sell or otherwise dispose
of and deliver said Pledged Collateral, or any part thereof, in one or more parcels at public or private sale or sales, at any exchange, broker’s board or at Lender’s offices or elsewhere upon such terms and conditions as it may reasonably
deem advisable and at such prices as it may deem best with respect to its own interests, for cash or on credit or for future delivery without assumption of any credit risk, with the right to Lender upon any such sale or sales, public or private, to
purchase the whole or any part of the Pledged Collateral so sold, free of any right or equity of redemption in Borrower, which right or equity is hereby expressly waived and released to the extent permitted by law. Upon the occurrence and during the
continuance of an Event of Default, Lender shall have the right to proceed against the Pledged Collateral of Borrower as it shall determine in its sole discretion. Lender shall not be obligated to make any sale of the Pledged Collateral if it shall
determine not to do so, regardless of the fact that notice of sale of the Pledged Collateral may have been given. Lender may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by
announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case the sale of all or any part of the Pledged Collateral is made on credit or for
future delivery, the Pledged Collateral so sold shall be retained by Lender until the sale price is paid by the purchaser or purchasers thereof, Lender shall not incur any liability in case any such purchaser or purchasers shall fail to take and pay
for the Pledged Collateral so sold and, in case of any such failure, such Pledged Collateral may be sold again upon like notice. To the extent permitted by law, Borrower hereby waives all rights of marshaling the Pledged Collateral and any other
security at any time held by Lender and any right of valuation or appraisal. Lender shall apply the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after deducting all reasonable out-of-pocket costs and
expenses of every kind incurred therein or incidental to the care, safekeeping or otherwise of any and all of the Pledged Collateral or in any way relating to the rights of Lender hereunder, including reasonable out-of-pocket attorney’s fees
and legal 

  
 6 

 
expenses, to the payment in whole or in part, of the Obligations together with interest thereon at the Default Rate under the Loan Agreement, and only after so applying such net proceeds and
after the payment by Lender of any other amount required by any provision of law, including, without limitation, the UCC and any version of the Uniform Commercial Code in effect in any applicable jurisdiction, need Lender account for the surplus, if
any, to Borrower. Borrower agrees that Lender need not give more than 10 Business Days’ notice of the time and place of any public sale or of the time and place if any private sale or other intended disposition is to take place notwithstanding
Section 9-612(b) of the UCC and that such notice is commercially reasonable notification of such matters. No notification need be given to Borrower if it has, after default, signed a statement renouncing or modifying any right to notification
of sale or other intended disposition. Lender’s rights and remedies hereunder are cumulative, at law or in equity, with any and all of Lender’s other rights in connection with the Loan, and Lender may exercise any of such rights or
remedies in any order. In addition to the rights and remedies granted to it in this Agreement and any other instrument securing, evidencing or relating to any of the Obligations, Lender shall have all the rights and remedies of a secured party under
the UCC, as if such rights and remedies were fully set forth herein, and any rights and remedies of a secured party under any version of the Uniform Commercial Code in effect in any applicable jurisdiction in which such rights or remedies are sought
to be enforced. 
 Section 9. Right to Become Member, Shareholder or Partner. (a) In addition to the remedies set forth in
Section 8 hereof, upon the occurrence and during the continuance of an Event of Default, Lender may, by delivering written notice to Issuer and Borrower, after having acquired the right, title and interest of Borrower’s Equity
Interests, succeed, or designate one or more nominees(s) to succeed, to all right, title and interest of Borrower (including, without limitation, the right, if any, to vote on or take any action with respect to Issuer) as a member, shareholder or
partner of Issuer, as applicable, relating to the Equity Interests acquired. Borrower hereby irrevocably authorizes and directs Issuer on receipt of any such notice (i) to deem and treat Lender or its nominee in all respects as a member,
shareholder or partner, as applicable (and not merely an assignee of a member, shareholder or partner, as applicable), of Issuer entitled to exercise all the rights, powers and privileges (including the right to vote on or take any action with
respect to any and all membership, shareholder or partnership matters, as applicable, pursuant to the Formation Agreement) to receive all Distributions, to be credited with the capital account and to have all other rights, powers and privileges
appertaining to such membership, shareholder or partnership interests, as applicable, to which Borrower would have been entitled had Borrower’s membership, shareholder or partnership interests, as applicable, not been transferred to Lender or
such nominee, (ii) to execute amendments to the Formation Agreement admitting Lender or such nominee as a member, shareholder or partner, as applicable, in place of Borrower and (iii) to issue the membership, shareholder or partnership
certificate(s), as applicable, in the name of Lender or its nominee, with respect to each of the Equity Interests represented by a certificate or certificates. 

(b) Notwithstanding anything to the contrary contained herein, upon acquisition of any portion of the Pledged Collateral by Lender or any other
Person through foreclosure or assignment in lieu of foreclosure, Borrower shall not be required to make additional contributions or other payments to Issuer. 

  
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 Section 10. Certain Understandings of Parties; Certificated Securities. The parties
acknowledge and agree that all of the Equity Interests have been “certificated”, are “securities” governed by Article 8 of the UCC and, during the terms of this Agreement the Equity Interests are and will be deemed
securities under Article 8 and Article 9 of the UCC, including without limitation, Section 8-103(c) of the UCC. Notwithstanding the foregoing, to better assure the perfection of the security interest of Lender in the Equity
Interests concurrently with the execution and delivery of this Agreement, and subsequently from time to time upon Lender’s written request following Lender’s transfer of all or any portion of the Loan, Borrower shall send written
instructions in the form of Exhibit A hereto to the Issuer. Borrower shall promptly deliver to Lender, or cause Issuer or any other entity issuing the Equity Interests to deliver directly to Lender, share certificates or other instruments
representing any Equity Interests acquired or received after the date of this Agreement with a stock or bond power duly executed in blank by Borrower in the form reasonably acceptable to Lender. If at any time Lender notifies Borrower that it
requires additional stock or bond powers endorsed in blank, Borrower shall promptly execute in blank and deliver the requested stock or bond power to the requesting party. 

Section 11. Representations, Warranties and Covenants of Borrower. Borrower hereby represents and warrants to and covenants and
agrees with Lender with respect to itself and the Pledged Collateral that: 
 (a) Borrower is, and at all times will maintain its existence
as, a limited liability company organized solely under the laws of the State of Delaware, has all requisite power and authority to execute, deliver and perform this Agreement and the Formation Agreement and to consummate the transactions
contemplated hereby. 
 (b) This Agreement has been duly authorized, executed and delivered by Borrower, is the legal, valid and binding
obligation of Borrower, and is enforceable as to Borrower in accordance with its terms, subject, however, to bankruptcy, insolvency and other rights of creditors generally and to general principles of equity. 

(c) The execution, delivery, observance and performance by Borrower of this Agreement and the transactions contemplated hereby will not result
in any violation of the Formation Agreement or, to Borrower’s knowledge, of any constitutional provision, law, statute, ordinance, rule or regulation applicable to it; or of any judgment, decree or order applicable to it and will not conflict
with, or cause a breach of, or default under, any such term or, except for the liens created or contemplated hereby, result in the creation of any mortgage lien, pledge, charge or encumbrance upon any of its properties or assets pursuant to any such
term. 
 (d) It is not necessary for Borrower to obtain or make any (i) governmental consent, approval or authorization, registration or
filing from or with any governmental authorities or (ii) consent, approval, waiver or notification of partners, creditors, lessors or other nongovernmental persons, in each case, in connection with the execution and delivery of this Agreement
or the consummation of the transactions herein presently contemplated which has not been filed or obtained. 

  
 8 

 (e) Borrower is as of the date hereof (i) the sole economic, managing and voting member of
Issuer, (ii) the owner of 100% of the membership interests in Issuer and (iii) the sole owner of all direct beneficial interests in the Pledged Collateral. Borrower owns the Pledged Collateral, and the Pledged Collateral is and shall
remain, free and clear of any lien, mortgage, encumbrance, charge, pledge, security interest, or claim of any kind (including, without limitation, any unconditional sale or other title retention agreement) other than as created by this Agreement or
as permitted by the Loan Agreement. 
 (f) The Equity Interests are, and Borrower covenants and agrees that it will ensure at all times that
such Equity Interests remain, “securities” within the meaning of the UCC and, in particular, with respect to the Equity Interests that are represented by a certificate or certificates, are “certificated securities” within the
meaning of Section 8-102(a)(4) of the UCC, and Borrower has taken all steps necessary to afford Lender “control” of such Equity Interests within the meaning of the UCC. 

(g) Borrower covenants and agrees to take commercially reasonable efforts to defend, at its sole cost and expense, Lender’s right, title
and Security Interest in and to the Pledged Collateral and the proceeds thereof, created pursuant hereto, against the claims and demands of all Persons whomsoever. 

(h) The Equity Interests have been duly authorized and validly issued and are fully paid and nonassessable. 

(i) The Equity Interests constitute 100% of the interests in capital, profits, distribution, management and voting rights in Issuer. 

(j) Upon Lender obtaining and maintaining possession of the “security certificates” (as defined in Section 8-102(a)(16) of the
UCC) identified on Schedule 1 and the timely filing of a UCC financing statement adequately describing the Pledged Collateral in the office of the Secretary of State of the State of Delaware, all steps necessary to create and perfect the
security interest created by this Agreement as a valid and continuing first priority lien on, and first priority perfected (subject to possession of the certificates and filing of the financing statements referenced above) security interest in, the
Pledged Collateral, in favor of Lender, prior to all other liens, security interests and other claims of any sort whatsoever, have been taken. Borrower has not granted a security interest in the Pledged Collateral to any other party, and the
security interest granted pursuant to this Agreement in the Pledged Collateral constitutes a valid, perfected first priority security interest in the Pledged Collateral subject to Permitted Encumbrances. 

(k) Borrower has not changed its name, or used, adopted or discontinued the use of any trade name, fictitious name or other trade name or trade
style. 
 (l) Borrower will not change its name in any manner which could make any financing or continuation statement filed hereunder
seriously misleading within the meaning of Section 9-507(c) of the UCC (or any other then-applicable provision of the UCC) unless Borrower shall have given Lender at least 10 Business Days’ prior notice thereof and shall have taken all
action (or made arrangements to take such action substantially simultaneously with such change, if it is impossible to take such action in advance) necessary or reasonably requested by Lender to amend such financing statement or continuation
statement so that it is not seriously misleading. 

  
 9 

 (m) Borrower shall perform all of its obligations under the Formation Agreement and shall not
amend the Formation Agreement in contravention of the Loan Agreement or in any manner that would reduce or impede Lender’s rights or remedies hereunder. 

Section 12. Certain Covenants. 

(a) No Disposition. Borrower agrees that, except to the extent permitted under the Loan Agreement, it will not directly or indirectly
sell, assign, transfer, exchange, encumber or otherwise dispose of, or grant any option with respect to, the Pledged Collateral, nor will it create, incur or permit to exist any security interest with respect to any of the Pledged Collateral or any
proceeds thereof, except for the Security Interest provided for by this Agreement. 
 (b) Delivery of Certificates and Instruments.
Any and all certificates or instruments at any time representing or evidencing any Pledged Collateral shall be immediately delivered to and held by or on behalf of Lender pursuant hereto, and shall be in suitable form for transfer by delivery, or
shall be accompanied by instruments of transfer or assignment, duly executed in blank, all in form and substance reasonably satisfactory to Lender. Lender shall have the right, at any time, after the occurrence and during the continuance of an Event
of Default, to transfer to or to register in the name of Lender or its nominee any Pledged Collateral. In addition, Lender shall have the right at any time to exchange certificates or instruments representing or evidencing Pledged Collateral for
certificates or instruments of smaller or larger denominations. 
 (c) Other Units. Borrower has not and shall not permit the issuance
of any units of membership interest, stock or partnership interest, as applicable, or other securities in addition to or in substitution for the Equity Interests. 

Section 13. Other Partners, Shareholders and/or Members Shall Join. Every member, shareholder or partner, as applicable,
hereinafter admitted to Issuer as a successor or additional member, shareholder or partner (to the extent permitted under the Loan Documents) shall at Lender’s request and as a condition thereto, join in this Agreement and agree to be bound by
the terms and provisions hereof, pursuant to a written joinder and assumption agreement in form and substance reasonably satisfactory to Lender, and execute and deliver appropriate forms of assignment and other appropriate instruments indicating the
Security Interest of Lender in the member’s Pledged Collateral. The failure of any new member, shareholder or partner, as applicable, to execute and deliver the same prior to or contemporaneously with its admission as a member, shareholder or
partner in Issuer, if such failure shall continue for 10 days after request by Lender, shall constitute an Event of Default hereunder and under the terms and provisions of the Loan Documents. 

  
 10 

 Section 14. Foreclosure Sales of Securities. 

(a) No Obligation to Register. In exercising its remedies hereunder, Lender may be unable to sell Equity Interests publicly pursuant to
this Agreement without registering them under the Securities Laws, which would likely be an expensive and time-consuming undertaking and, in fact, one which might be impossible to accomplish even if Lender
were willing to invest the necessary time and money. Even though Lender may be able to register Equity Interests under the Securities Laws, it may nonetheless regard such registration as too expensive or too
time-consuming (such determination to be made in Lender’s sole discretion). If Lender sells Equity Interests without registration, Lender may be required to sell them only in private sales to a restricted
group of offerees and purchasers who fulfill certain suitability standards and who will be obliged to agree, among other things, to acquire the Equity Interests for their own account for investment and not with a view to distributing or reselling
them. Borrower acknowledges that such a private sale may result in less favorable prices and other terms than a public sale. Borrower agrees that a private sale, even under these restrictive conditions, will not be considered commercially
unreasonable solely by virtue of the fact that Lender has not registered or sought to register the Equity Interests under the Securities Laws, even if Borrower or Issuer agrees to pay all costs of the registration process. 

(b) Right of Lender to Purchase at No-Action Public Sale. Borrower is aware that Section 9-610 of the UCC states that Lender is able to purchase the Equity Interests only if they are sold at a public sale. Borrower is also aware that SEC staff personnel have, over a period of years, issued
various No-Action Letters that describe procedures which, in the view of the SEC staff, permit a foreclosure sale of securities to occur in a manner that is public for purposes of Part 6 of Article 9 of
the UCC, yet not public for purposes of Section 4(2) of the Securities Act. Borrower is also aware that Lender may wish to purchase the Equity Interests that are sold at a foreclosure sale, and Borrower believes that such purchases would be
appropriate in circumstances in which the Equity Interests are sold in conformity with the principles set forth in the No-Action Letters. Borrower specifically agrees that a foreclosure sale conducted in
conformity with the principles set forth in the No-Action Letters (i) shall be considered to be a “public” sale for purposes of Section 9-610 of the UCC; (ii) will not be considered
commercially unreasonable solely by virtue of the fact that Lender has not registered or sought to register the Equity Interests under the Securities Laws, even if Borrower agrees or Issuer agrees to pay all costs of the registration process; and
(iii) shall be considered to be commercially reasonable even if Lender purchases Equity Interests at such a sale. 
 (c)
Intercreditor Agreement. Borrower acknowledges that Mortgage Lender has imposed certain restrictions on Lender’s ability to foreclose under this Agreement, including that Lender shall have obtained a Rating Agency Confirmation prior to
its commencement of any foreclosure under this Agreement unless the proposed transferee meets certain financial requirements and certain other conditions are satisfied. Borrower specifically agrees that a foreclosure sale conducted in conformity
with such requirements (i) shall be considered to be a “public” sale for purposes of Section 9-610 of the UCC; (ii) will not be considered commercially unreasonable solely by virtue of the fact that such restrictions are
imposed; and (iii) shall be considered to be commercially reasonable even if Lender purchases Equity Interests at such a sale. 

  
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 (d) General Standards Applicable to Foreclosure Sales. Borrower agrees that Lender shall
have no general duty or obligation to make any effort to obtain or pay any particular price for any Equity Interests sold by Lender pursuant to this Agreement (including sales made to Lender). Lender may, in its discretion, among other things,
accept the first offer received, or decide to approach or not to approach any potential purchasers. Borrower specifically agrees that a foreclosure sale conducted in conformity with this Section 14 will be considered commercially
reasonable. 
 (e) Further Assurances. Borrower shall use all reasonable efforts to do or cause to be done all such other acts and
things (except that Borrower shall not be obligated to register any Equity Interests under the Securities Laws) as may be reasonably necessary to make any sale or sales of Equity Interests valid and binding and in compliance with applicable laws,
regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign, having jurisdiction over any such sale or sales, all at Borrower’s expense. 

(f) Equitable Remedy. Borrower agrees that a breach of any of the covenants contained in this Section 14 shall cause
irreparable injury to Lender, and that Lender will have no adequate remedy at law in respect of such breach. As a consequence, Borrower agrees that each and every covenant contained in this Section 14 shall be specifically enforceable
against Borrower. 
 Section 15. Reimbursement of Lender. 

(a) Borrower hereby covenants and agrees to reimburse Lender promptly upon receipt of written notice from Lender for all reasonable
out-of-pocket costs and expenses payable to third parties incurred by Lender in connection with (A) enforcing or preserving any rights, in response to third party claims or the prosecuting or defending of any action or proceeding or other
litigation, in each case against, under or affecting Borrower or this Agreement (except to the extent found by a final non-appealable judgment of a court of competent jurisdiction to have resulted from Lender’s gross negligence or willful
misconduct), and (B) enforcing any obligations of or collecting any payments due from Borrower under this Agreement. 
 (b) In no event
shall Lender be liable to Borrower for any matter or thing in connection with this Agreement other than to account for moneys actually received by Lender in accordance with the terms hereof and any state of facts determined by a final non-appealable
judgment of a court of competent jurisdiction to be caused by Lender’s gross negligence or willful misconduct in connection therewith. 

Section 16. No Waiver of Rights by Lender. Nothing herein shall be deemed (a) to be a waiver of any right which Lender may
have under the Bankruptcy Code or the bankruptcy laws of any state to file a claim for the then outstanding amount of the Loan or to require that all of the Pledged Collateral shall continue to secure all of the Obligations; (b) to impair the
validity of the Loan, the Loan Agreement, the Note, the other Loan Documents or any other document or instrument delivered to Lender in connection therewith; or (c) to impair the 

  
 12 

 
right of Lender to commence an action to foreclose any lien or security interest in connection with the exercise of its remedies hereunder. Nothing herein shall be deemed to be a waiver of any
right which Lender may have under Section 506(a), 506(b), 1111(b) or any other provisions of the Bankruptcy Code to file a claim for the full amount of the indebtedness of the Loan and other amounts due under this Agreement, the Loan Agreement,
the Note, or the other Loan Documents or to require that all of the Pledged Collateral shall continue to secure the Obligations. 

Section 17. Irrevocable Proxy. Solely with respect to Article 8 Matters, Borrower hereby irrevocably grants and appoints
Lender, from the date of this Agreement until the termination of this Agreement in accordance with its terms, as Borrower’s true and lawful proxy, for and in Borrower’s name, place and stead to vote the Equity Interests, whether directly
or indirectly, beneficially or of record, now owned or hereafter acquired, with respect to such Article 8 Matters. The proxy granted and appointed in this Section 17 shall include the right to sign Borrower’s name (as a member,
shareholder or partner of Issuer, as applicable) to any consent, certificate or other document relating to an Article 8 Matter and the Equity Interests that applicable law may permit or require, to cause the Equity Interest to be voted in
accordance with the preceding sentence. Borrower hereby represents and warrants that there are no other proxies and powers of attorney with respect to an Article 8 Matter and the Equity Interests that Borrower may have granted or appointed.
Borrower will not give a subsequent proxy or power of attorney or enter into any other voting agreement with respect to the Equity Interests with respect to any Article 8 Matter and any attempt to do so with respect to an Article 8 Matter
shall be void and of no effect. The proxies and powers granted by the Borrower pursuant to this Agreement are coupled with an interest and are given to secure the performance of the Borrower’s obligations. 

Section 18. Miscellaneous. 

(a) Successors. Except as otherwise provided in this Agreement, whenever in this Agreement any of the parties hereto is referred to,
such reference shall be deemed to include the successors and permitted assigns of such party, provided that Borrower may not assign its obligations hereunder except as may be provided in, and in accordance with, the Loan Agreement. All covenants and
promises and agreements in this Agreement contained, by or on behalf of Borrower, shall inure to the benefit of Lender and its successors and assigns. 

(b) Governing Law. 
 (1)
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 (2) ANY LEGAL SUIT, ACTION OR
PROCEEDING AGAINST BORROWER ARISING OUT OF OR RELATING TO THIS AGREEMENT MAY BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW. BORROWER HEREBY (I) IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH

  
 13 

 
PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM, AND (II) IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING.
BORROWER DOES HEREBY DESIGNATE AND APPOINT: 
 Corporation Service Company 

2711 Centerville Road, Suite 400 

Wilmington, DE USA 19808 
 AS ITS
AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID
AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO MORTGAGOR IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON MORTGAGOR, IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE
OF NEW YORK. 
 (c) Modification, Waiver in Writing. This Agreement may not be amended or waived, nor shall any consent or approval of
Lender be granted hereunder, unless such amendment, waiver, consent or approval is in writing signed by Lender and (in the case of amendments) Borrower. 

(d) Notices. The provisions of Section 9.4 of the Loan Agreement are hereby incorporated into this Agreement by this reference to
the fullest extent as if the text of such provisions were set forth in their entirety herein. 
 (e) Trial by Jury. The provisions of
Section 9.5 of the Loan Agreement (as it relates to the waiver of jury trial by Borrower and Lender) are hereby incorporated into this Agreement by this reference to the fullest extent as if the text of such provisions were set forth in their
entirety herein. 
 (f) Principles of Construction. The provisions of paragraph (b) of the “Definitions” section of the
Loan Agreement are hereby incorporated into this Agreement by this reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 

(g) Severability. The provisions of Section 9.8 of the Loan Agreement are hereby incorporated into this Agreement by this reference
to the fullest extent as if the text of such provisions were set forth in their entirety herein. 
 (h) Offsets, Counterclaims and
Defenses. All payments made by Borrower hereunder shall be made irrespective of, and without any deduction for, any setoffs or counterclaims. Borrower waives the right to assert a counterclaim, other than a mandatory or compulsory counterclaim,
in any action or proceeding brought against it by Lender arising out of or in any way connected with this Agreement or the Obligations. 

  
 14 

 (i) No Joint Venture. The provisions of Section 9.12 of the Loan Agreement are hereby
incorporated into this Agreement by this reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 

(j) Counterparts. The provisions of Section 9.15 of the Loan Agreement are hereby incorporated into this Agreement by this
reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 
 (k) No Third-Party
Beneficiaries. This Agreement is solely for the benefit of Lender and Borrower, and nothing contained in this Agreement shall be deemed to confer upon anyone other than Lender and Borrower any right to insist upon or to enforce the performance
or observance of any of the obligations contained herein or therein. 
 (l) Limitation on Liability of Borrower; Exculpation. The
provisions of Section 9.19 of the Loan Agreement are hereby incorporated into this Agreement by this reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 

(m) Right of Set-Off. The provisions of Section 9.20 of the Loan Agreement are hereby incorporated into this Agreement by this
reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 
 (n) Servicer. The
provisions of Section 9.22 of the Loan Agreement are hereby incorporated into this Agreement by this reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 

(o) Prior Agreements. The provisions of Section 9.27 of the Loan Agreement are hereby incorporated into this Agreement by this
reference to the fullest extent as if the text of such provisions were set forth in their entirety herein. 
 (p) Further Assurances.
Borrower shall from time to time, at its expense, promptly execute and deliver (and/or cause to be executed and delivered) all further instruments and agreements, and take all further actions, that may be necessary or appropriate, or that Lender may
reasonably request, in order to perfect or protect any assignment, pledge or security interest granted or purported to be granted hereby or to enable Lender to exercise or enforce its rights and remedies hereunder. 

[Signature appears on the following page] 

  
 15 

 IN WITNESS WHEREOF, Borrower has executed and delivered this Agreement as of the date first above
written. 
  

			
	BORROWER:
	
	GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company
		
	By:	 	 /s/ James M. Young

		 	Name: James M. Young
		 	 Title:   Vice President – Corporate Counsel and

            Assistant Secretary

 Schedule 1 

LIST OF EQUITY INTERESTS 
  

											
	 Issuer
	  	Class of Interest	  	Certificate No.	 	  	Percentage of Class
Represented by
Equity Interest	 
	 Toys “R” Us Property Company II, LLC
	  	limited liability
 company
	  	 	2	  	  	 	100	% 

 Exhibit A 

FORM OF INSTRUCTION TO REGISTER PLEDGE 

FOR ISSUER 
 November 3,
2016 
  

	To:	Toys “R” Us Property Company II, LLC 

 1 Geoffrey Way 

Wayne, New Jersey 07470 
 Attn:
General Counsel 
 In accordance with the requirements of that certain Pledge and Security Agreement (Mezzanine Loan), dated as the date
hereof (as amended, supplemented or otherwise modified from time to time, the “Pledge Agreement”), between BRIGADE LEVERAGED CAPITAL STRUCTURES FUND LTD., BRIGADE CREDIT FUND II LTD., BRIGADE STRUCTURED CREDIT FUND LTD., LOS
ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION, BRIGADE DISTRESSED VALUE MASTER FUND LTD., THE COCA-COLA COMPANY MASTER RETIREMENT TRUST, FEDEX CORPORATION EMPLOYEES’ PENSION TRUST, DELTA MASTER TRUST, BRIGADE OPPORTUNISTIC CREDIT FUND - ICIP,
LTD. and BRIGADE OPPORTUNISTIC CREDIT FUND 16 LLC (together with each of their respective successors and assigns, collectively, “Lender”) and GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company (the
“Borrower”) (defined terms used herein as therein defined), you are hereby instructed, notwithstanding your and our understanding that the limited liability company interests, partnership interests and shares of stock described
below are a “security” under the Uniform Commercial Code, as in effect from time to time in the State of New York (the “UCC”) as a precaution in the event that such interest was nevertheless held not to be a security and
to better assure the perfection of the security interest of Lender in such interests, to register the pledge of the following interests in the name of Lender as follows: 

The 100% limited liability company interests of the undersigned in the issuer (the “Issuer”) as listed on Schedule 1 to the
Pledge Agreement including without limitation all of Borrower’s right, title and interest, whether now owned or hereafter acquired, in, under and to (collectively, the “Pledged Collateral”): 

(i) the Formation Agreement and the Equity Interests, including, without limitation, Borrower’s share of the profits, losses and capital
of Issuer, and all Voting Rights, claims, powers, privileges, benefits, options or rights of any nature whatsoever which currently exist or may be issued or granted by Issuer to Borrower, and all instruments, whether heretofore or hereafter
acquired, evidencing such rights and interests, 
 (ii) the Account Collateral (as defined in that certain Mezzanine Loan Agreement, dated
the date hereof, by and between Lender and Borrower); 

 (iii) all distributions (whether in cash or in kind) and all interest in respect of, and all
proceeds of, any instrument or interest constituting part of the Pledged Collateral, of whatever kind or description, real or personal, whether in the ordinary course or in partial or total liquidation or dissolution, or any recapitalization,
reclassification of capital, or reorganization or reduction of capital, or otherwise, 
 (iv) all General Intangibles (as defined in Article
9 of the UCC) relating to the foregoing, 
 (v) the proceeds (including claims against third parties), products and accessions of the
foregoing, 
 (vi) all replacements and substitutions of the foregoing, 

(vii) all other rights appurtenant to the property described in foregoing clauses (i) through (vi), and 

(viii) any stock certificates, share certificates, limited liability company certificates, partnership certificates or other certificates or
instruments evidencing the foregoing. 
 [SIGNATURES COMMENCE ON THE FOLLOWING PAGE] 

 
			
	Very truly yours,
	
	GIRAFFE JUNIOR HOLDINGS, LLC, a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

 LENDER: 

BRIGADE LEVERAGED CAPITAL STRUCTURES FUND LTD., 
 BRIGADE CREDIT
FUND II LTD., 
 BRIGADE STRUCTURED CREDIT FUND LTD., 
 LOS
ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION, 
 BRIGADE DISTRESSED VALUE MASTER FUND LTD., 

THE COCA-COLA COMPANY MASTER RETIREMENT TRUST, 
 FEDEX CORPORATION
EMPLOYEES’ PENSION TRUST, 
 DELTA MASTER TRUST, 
 BRIGADE
OPPORTUNISTIC CREDIT FUND - ICIP, LTD., and 
 BRIGADE OPPORTUNISTIC CREDIT FUND 16 LLC 

By: Brigade Capital Management, LP, as Investment Advisor 
  

			
	        By:	 	  

		 	Name: Patrick Criscillo
		 	Title: Chief Financial Officer

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