Document:

Exhibit 10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

BY
AND AMONG

 

lions
gate entertainment corp.

 

AND

 

THE
PERSONS LISTED ON THE

 

SIGNATURE
PAGES HEREOF

 

DATED
AS OF October 21, 2016

 

    	 	 	 

     

    

 

Table
of contents

 

	 		Page
	 	 	 
	ARTICLE I DEFINITIONS	1
	1.1	Defined Terms	1
	1.2	General Interpretive Principles	6
	 	 	 
	ARTICLE II EFFECTIVENESS	6
	2.1	Effectiveness	6
	 	 	 
	ARTICLE III DEMAND REGISTRATION	6
	3.1	Demand Registration	6
	3.2	Effective Registration	7
	3.3	Underwritten Offerings	7
	3.4	Priority on Demand Registrations	8
	3.5	Withdrawal and Cancellation of Registration	8
	3.6	Registration Statement Form	9
	 	 	 
	ARTICLE IV PIGGYBACK REGISTRATIONS	9
	4.1	Holder Piggyback Registration	9
	4.2	Priority on Piggyback Registrations	10
	4.3	Withdrawals	11
	4.4	Underwritten Offerings	12
	 	 	 
	ARTICLE V SHELF REGISTRATION	12
	5.1	Shelf Registration Filing	12
	5.2	Required Period and Shelf Registration Procedures	12
	5.3	Underwritten Shelf Offerings	13
	 	 	 
	ARTICLE VI STANDSTILL AND SUSPENSION PERIODS	14
	6.1	Lionsgate Standstill Period	14
	6.2	Suspension Period	15
	6.3	Holder Standstill Period	16
	 	 	 
	ARTICLE VII REGISTRATION PROCEDURES	17
	7.1	Lionsgate Obligations	17
	7.2	Holder Obligations	21
	7.3	Hedging Transactions	21
	 	 	 
	ARTICLE VIII INDEMNIFICATION	22
	8.1	Indemnification by Lionsgate	22
	8.2	Indemnification by the Holders	23
	8.3	Notice of Claims, Etc.	23
	8.4	Contribution	24
	8.5	Indemnification Payments; Other Remedies; Primacy of Indemnification	25
	 	 	 
	ARTICLE IX REGISTRATION EXPENSES	26

 

    	 	i	 

     

    

 

	ARTICLE X RULE 144	26
	 	 	 
	ARTICLE XI MISCELLANEOUS	27
	11.1	Notice Generally	27
	11.2	Successors and Assigns	28
	11.3	Amendments; Waivers	28
	11.4	AT&T Representative	28
	11.5	Calculations of Beneficial Ownership	29
	11.6	No Third Party Beneficiaries	29
	11.7	Injunctive Relief	29
	11.8	Termination of Registration Rights; Survival	29
	11.9	Attorney’s Fees	29
	11.10	Severability	29
	11.11	Headings	29
	11.12	Governing Law; Jurisdiction	30
	11.13	Counterparts and Facsimile Execution	30
	11.14	Entire Agreement	30
	11.15	Further Assurances	30

 

    	 	ii	 

     

    

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of October 21, 2016, and effective as of the date of the consummation of the Starz Merger (as defined below) (the “Effective
Date”), by and among Lions Gate Entertainment Corp., a corporation organized and existing under the laws of British Columbia
(“Lionsgate”) and the Holders (as hereinafter defined) of Registrable Securities (as hereinafter defined), including
any Additional Holders (as hereinafter defined) who subsequently become parties to this Agreement in accordance with the terms
of this Agreement.

 

WITNESSETH

 

WHEREAS, on June 30, 2016, Lionsgate entered
into an Agreement and Plan of Merger (the “Merger Agreement”) with Starz (“Starz”), a Delaware
corporation, and Orion Arm Acquisition Inc. (“Merger Sub”), a Delaware corporation and an indirect wholly owned
subsidiary of Lionsgate, pursuant to which Merger Sub would merge with and into Starz, with Starz continuing as the surviving corporation
and becoming an indirect wholly owned subsidiary of Lionsgate (such transaction, the “Starz Merger”);

 

WHEREAS, pursuant to the Merger Agreement,
immediately prior to the Starz Merger, Lionsgate will effect a reorganization of the common stock of Lionsgate, no par value per
share (the “Existing Common Shares”), pursuant to which each Existing Common Share will be reclassified into
(a) 0.5 Class A voting shares, without par value (the “Class A voting shares”) and 0.5 Class B non-voting shares,
without par value (the “Class B non-voting shares”) of Lionsgate; and

 

WHEREAS, concurrently with the execution of
this Agreement, AT&T (as hereinafter defined) is entering into a Securities Issuance and Payment Agreement (the “Securities
Issuance Agreement”), dated as of the date hereof, and effective as of the Effective Date, by and among Lionsgate, Lions
Gate Entertainment Inc., a Delaware corporation, and AT&T, pursuant to which Lionsgate, at the option of Lions Gate Entertainment
Inc., will either pay cash or issue Class A voting shares and Class B non-voting shares to AT&T;

 

NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree
as follows:

 

ARTICLE I

 

DEFINITIONS

1.1           Defined
Terms.

 

As used in this Agreement, the following capitalized
terms (in their singular and plural forms, as applicable) have the following meanings:

 

“Action” has the meaning
assigned to such term in Section 8.3 hereof.

 

    	 	 	 

     

    

 

“Additional Holders” means
any (i) Affiliate of any Holder or (ii) Permitted Assignee, in each case who, at any time and from time to time, owns Registrable
Securities, and has agreed to be bound by the terms hereof and thereby has become a Holder for purposes of this Agreement, all
at the relevant time.

 

“Adverse Effect” has the
meaning assigned to such term in Section 3.4 hereof.

 

“Affiliate” of a Person
means any Person that, directly or indirectly, through one or more intermediaries, controls or is controlled by, or is under common
control with, such other Person. For purposes of this definition, the term “control” (including the terms “controlling,”
“controlled by” and “under common control with”) means the possession, direct or indirect,
of the power to cause the direction of the management and policies of a Person, whether through the ownership of voting securities,
by contract or otherwise; provided that in no event shall Lionsgate, Discovery, Liberty, John C. Malone, MHR Fund Management,
LLC (“MHR”) or any of their respective Subsidiaries, controlled Affiliates, portfolio companies or affiliated
investment funds be considered an Affiliate of any Holder or Additional Holder or any of their respective Subsidiaries, Affiliates,
portfolio companies or affiliated investment funds (in each case, other than Lionsgate and its Subsidiaries and controlled Affiliates),
nor shall any Holder or Additional Holder or any of their respective Subsidiaries, Affiliates, portfolio companies or affiliated
investment funds (in each case, other than Lionsgate and its Subsidiaries and controlled Affiliates) be considered to be an Affiliate
of Lionsgate, Discovery, Liberty, John C. Malone, MHR or any of their respective Subsidiaries, controlled Affiliates, portfolio
companies or affiliated investment funds.

 

“Agreement” has the meaning
assigned to such term in the introductory paragraph to this Agreement, as the same may be amended, supplemented or restated from
time to time.

 

“AT&T” means AT&T
Media Holdings, Inc.

 

“AT&T Group” means
AT&T Inc., a Delaware corporation, and its Subsidiaries; provided, however, that for purposes of determining
(A) the AT&T Group’s awareness or knowledge of material adverse information relating to Lionsgate for purposes of Sections
3.5 and 4.3 hereunder and (B) whether the AT&T Group possesses material, non-public information with respect to
Lionsgate for purposes of Section 6.2(c) hereunder, the “AT&T Group” means (x) any director, officer
or employee of AT&T or any of its Subsidiaries who, if in possession of material non-public information regarding Lionsgate,
would restrict AT&T from trading in Lionsgate securities under the United States federal securities law.

 

“AT&T Representative”
means AT&T Media Holdings, Inc. or such other member of the AT&T Group as may be designated at any time and from time to
time by written notice from the Holders to Lionsgate in accordance with Section 11.1.

 

“Bring-Down Suspension Notice”
has the meaning assigned to such term in Section 6.2(a) hereof.

 

“Business Day” means each
Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in the Borough of Manhattan, The
City of New York are authorized or obligated by law or executive order to close.

 

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“Class A voting shares”
has the meaning assigned to such term in the recitals.

 

“Class B non-voting shares”
has the meaning assigned to such term in the recitals.

 

“Commission” means the
United States Securities and Exchange Commission and any successor United States federal agency or governmental authority having
similar powers.

 

“Common Shares” means the
Class A voting shares and the Class B non-voting shares.

 

“Company Indemnified Person”
has the meaning assigned to such term in Section 8.2 hereof.

 

“Demand Registration” has
the meaning assigned to such term in Section 3.1. hereof.

 

“Demand Request” has the
meaning assigned to such term in Section 3.1 hereof.

 

“Discovery” means Discovery
Communications, Inc.

 

“Effective Date” has the
meaning assigned to such term in the introductory paragraph to this Agreement.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations of the Commission thereunder.

 

“Existing Common Shares”
has the meaning assigned to such term in the recitals.

 

“Existing Investors” has
the meaning assigned to the term “Investors” in the Investor Rights Agreement.

 

“Existing Registration Rights Agreements”
has the meaning assigned to the term “Registration Rights Agreements” in the Investor Rights Agreement.

 

“FINRA” has the meaning
assigned to such term in Section 7.1(n) hereof.

 

“Holder” means any Person
who is a member of the AT&T Group (including any Additional Holder) who owns Registrable Securities at the relevant time and
is or has become a party to this Agreement.

 

“Indemnitors” has the meaning
assigned to such term in Section 8.5(c) hereof.

 

“Indemnified Person” has
the meaning assigned to such term in Section 8.1 hereof.

 

“Indemnitee” has the meaning
assigned to such term in Section 8.3 hereof.

 

“Inspectors” has the meaning
assigned to such term in Section 7.1(k) hereof.

 

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“Investor Rights Agreement”
means the Investor Rights Agreement, dated as of November 10, 2015, by and among Lionsgate, MHR Fund Management, LLC, Liberty,
Discovery, Liberty Global Incorporated Limited, Discovery Lightning Investments Ltd. and the affiliated funds of MHR Fund Management,
LLC party thereto.

 

“Liberty” means Liberty
Global plc.

 

“Lionsgate” has the meaning
assigned to such term in the introductory paragraph to this Agreement.

 

“Loss” and “Losses”
have the meanings assigned to such terms in Section 8.1 hereof.

 

“Mammoth Letter Agreement”
has the meaning assigned to the term “Mammoth Letter Agreement” in the Investor Rights Agreement.

 

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

 

“Merger Sub” has the meaning
assigned to such term in the recitals.

 

“Participating Holder”
means any Holder on whose behalf Registrable Securities are registered pursuant to Article III, IV or V hereof.

 

“Permitted Assignee” means
any member of the AT&T Group who receives Registrable Securities from a Holder or a Holder’s Affiliates and who agrees
to be bound by the terms hereof and thereby has become a Holder for purposes of this Agreement.

 

“Person” means any individual,
corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization,
government or any agency or political subdivision thereof or any other entity.

 

“Piggybacking Holders”
has the meaning assigned to such term in Section 4.2 hereof.

 

“Piggyback Registration”
has the meaning assigned to such term in Section 4.1 hereof.

 

“Piggyback Request” has
the meaning assigned to such term in Section 4.1 hereof.

 

“Prospectus” means the
prospectus included in any Registration Statement, all amendments and supplements to such prospectus and all material incorporated
by reference in such prospectus.

 

“Records” has the meaning
assigned to such term in Section 7.1(k) hereof.

 

“register,” “registered”
and “registration” mean a registration effected by preparing and filing with the Commission a Registration Statement
on an appropriate form in

 

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compliance with the Securities Act, and the declaration or order
of the Commission of the effectiveness of such Registration Statement under the Securities Act.

 

“Registrable Securities”
means (i) Common Shares and (ii) any securities that may be issued or distributed or be issuable in respect thereof, including
by way of stock dividend, stock split or other similar distribution, payment in kind with respect to any interest payment, merger,
consolidation, exchange offer, recapitalization or reclassification or similar transaction or exercise or conversion of any of
the foregoing, in the case of each of foregoing clauses (i) and (ii) which are held by any of the Holders now or at any time in
the future; provided, however, that as to any Registrable Securities, such securities shall cease to constitute “Registrable
Securities” for purposes of this Agreement if and when (i) a Registration Statement with respect to the sale of such securities
shall have been declared effective under the Securities Act and such securities shall have been disposed of pursuant such Registration
Statement, (ii) such securities are distributed pursuant to Rule 144, (iii) such securities are otherwise sold or transferred
(other than in a transaction under clause (i) or (ii) above) by a Person in a transaction in which such Person’s rights under
this Agreement are not assigned, (iv) such securities are no longer outstanding or (v) such securities are, in the reasonable determination
of the Holder thereof, otherwise freely transferable by such Holder without any restriction under the Securities Act at the time
such Holder consummates the sale or transfer of such securities.

 

“Registration Statement”
means any registration statement of Lionsgate filed with, or to be filed with, the Commission under the rules and regulations promulgated
under the Securities Act, including the Prospectus, amendments and supplements to such registration statement, including post-effective
amendments, and all exhibits and all material incorporated by reference in such registration statement.

 

“Requesting Holder(s)”
has the meaning assigned to such term in Section 3.1 hereof.

 

“Rule 144” means Rule 144
(or any similar provision then in force) promulgated under the Securities Act.

 

“Securities Act” means
the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations of the Commission thereunder.

 

“Securities Issuance Agreement”
has the meaning assigned to such term in the recitals.

 

“Shelf Registration Statement”
has the meaning assigned to such term in Section 5.1(a) hereof.

 

“Starz” has the meaning
assigned to such term in the recitals.

 

“Starz Merger” has the
meaning assigned to such term in the recitals.

 

“Subsidiary” means, with
respect to any Person, any entity of which securities or other ownership interests having voting power to elect a majority of the
board of directors or other persons performing similar functions are directly or indirectly owned by such Person.

 

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“Suspension Notice” has
the meaning assigned to such term in Section 6.2(b) hereof.

 

“Suspension Period” has
the meaning assigned to such term in Section 6.2(a) hereof.

 

“Ten Percent Holder” means
any Person that beneficially owns, at the relevant time, at least 10% of the then outstanding Common Shares and is a party to a
registration rights agreement with Lionsgate.

 

“Underwritten Offering”
means a registration in which securities of Lionsgate are sold to an underwriter or underwriters on a firm commitment basis for
reoffering to the public.

 

“Voting and Standstill Agreement”
has the meaning assigned to the term “Voting and Standstill Agreement” in the Investor Rights Agreement.

 

1.2           General
Interpretive Principles. Whenever used in this Agreement, except as otherwise expressly provided or unless the context otherwise
requires, any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all genders. The name
assigned to this Agreement and the Section captions used herein are for convenience of reference only and shall not be construed
to affect the meaning, construction or effect hereof. Unless otherwise specified, the terms “hereof,” “herein,”
“hereunder” and similar terms refer to this Agreement as a whole (including the exhibits and schedules hereto),
and references herein to “Sections” refer to Sections of this Agreement. The words “include,” “includes”
and “including,” when used in this Agreement, shall be deemed to be followed by the words “without
limitation.”

 

ARTICLE II

 

EFFECTIVENESS

 

2.1           Effectiveness.
This Agreement shall become effective upon the completion of the Starz Merger. In the event the Starz Merger is not completed,
this Agreement shall have no force or effect.

 

ARTICLE III

 

DEMAND REGISTRATION

 

3.1           Demand
Registration. Subject to the provisions contained in this Section 3.1 and in Sections 6.2 and 6.3 hereof, any Holder or
group of Holders may, from time to time (each, a “Requesting Holder” and collectively, the “Requesting
Holders”), make a request in writing (a “Demand Request”) that Lionsgate effect the registration under
the Securities Act of any specified number of shares of Registrable Securities held by the Requesting Holder(s) (a “Demand
Registration”); provided, however, that Lionsgate shall in no event be required to effect:

 

(a)           more
than two (2) Demand Registrations in the aggregate;

 

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(b)          more
than one (1) Demand Registration in any 12 month period or, in the aggregate, more than one (1) Demand Registration (by the AT&T
Group pursuant to this Agreement) or demand registration by Discovery (pursuant to the registration rights agreement, dated November
10, 2015, between Lionsgate and Discovery) or demand registration by Liberty (pursuant to the registration rights agreement, November
10, 2015, between Lionsgate and Liberty) in any six month period; and

 

(c)          any
Demand Registration if the Shelf Registration Statement is then effective, and such Shelf Registration Statement may be utilized
by the Requesting Holders for the offering and sale of all of their Registrable Securities without a requirement under the Commission’s
rules and regulations for a post-effective amendment thereto.

 

Subject to the provisions contained in this
Section 3.1 and in Sections 6.2 and 6.3 hereof, upon receipt of a Demand Request, Lionsgate shall cause
to be included in a Registration Statement on an appropriate form under the Securities Act, filed with the Commission as promptly
as practicable but in any event not later than 60 days after receiving a Demand Request, such Registrable Securities as may be
requested by such Requesting Holders in their Demand Request. Lionsgate shall use its reasonable efforts to cause any such Registration
Statement to be declared effective under the Securities Act as promptly as possible after such filing.

 

3.2           Effective
Registration. A registration shall not count as a Demand Registration under this Agreement (i) unless the related Registration
Statement has been declared effective under the Securities Act and has remained effective until such time as (x) all of such Registrable
Securities covered thereby have been disposed of in accordance with the intended methods of disposition by the Participating Holders
(but in no event for a period of more than 180 days after such Registration Statement becomes effective not including any Suspension
Periods) or (y) a majority of the Registrable Securities covered thereby held by the Requesting Holders have been withdrawn or
cancelled from such Demand Registration (other than as contemplated by the first sentence of Section 3.5); (ii) if, after
a Registration Statement has become effective, an offering of Registrable Securities pursuant to such Registration Statement is
terminated by any stop order, injunction, or other order of the Commission or other governmental agency or court, unless and until
(x) such stop order or injunction is removed, rescinded or otherwise terminated, (y) any Requesting Holder thereafter elects, in
its sole discretion, to continue the offering and (z) the related Registration Statement remains effective until the time periods
specified in subclauses (x) and (y) of clause (i) above; or (iii) if pursuant to Section 3.4 hereof, the Requesting Holders
are cut back to fewer than 75% of the Registrable Securities requested to be registered in the aggregate and at the time of the
request there was not in effect the Shelf Registration Statement.

 

3.3           Underwritten
Offerings. If any Requesting Holder in the case of an offering pursuant to a Demand Registration so elects, such offering shall
be in the form of an Underwritten Offering; provided that such offering shall cover such aggregate number of Registrable
Securities that have an aggregate anticipated offering price of at least $10,000,000 (based on the market price of the Registrable
Securities as of the date of the Demand Request).

 

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3.4           Priority
on Demand Registrations. With respect to any Demand Registration (including any Underwritten Offering of Registrable Securities
pursuant to a Demand Registration), subject to Article IV, no securities to be sold for the account of any Person (including
Lionsgate) other than the Requesting Holders shall be included in a Demand Registration; provided that securities to be
sold for the account of Lionsgate and any Ten Percent Holder may be included in such Demand Registration if, and only if, the managing
underwriter advises the Requesting Holders and Lionsgate in writing (or, in the case of a Demand Registration not being underwritten,
the Requesting Holders determine in good faith after considering the relevant facts and circumstances at the relevant time) that
the inclusion of such securities shall not adversely affect the price or success of the offering by the Requesting Holders (an
“Adverse Effect”). Furthermore, in the event that the managing underwriter advises the Requesting Holders in
writing (or the Requesting Holders determine, as applicable, in good faith after considering the relevant facts and circumstances
at the relevant time) that the amount of Registrable Securities proposed to be included in such Demand Registration by the Requesting
Holders is sufficiently large (even after exclusion of all securities proposed to be sold for the account of Lionsgate or any Ten
Percent Holder pursuant to the immediately preceding sentence) to cause an Adverse Effect, the number of Registrable Securities
to be included in such Demand Registration shall be allocated among all such Requesting Holders pro rata for each Holder based
on the percentage derived by dividing (i) the number of Registrable Securities that each such Holder requested to be included in
such Demand Registration by (ii) the aggregate number of Registrable Securities that all Requesting Holders requested to be included
in such Demand Registration; provided, however, that if, as a result of such proration, any Requesting Holder shall
not be entitled to include in a registration all Registrable Securities of the class or series that such Holder had requested to
be included, such Holder may elect to withdraw its request to include such Registrable Securities in such registration or may reduce
the number requested to be included; provided, however, that (a) such request must be made in writing prior
to the earlier of the execution of the underwriting agreement, if any, or the execution of the custody agreement with respect to
such registration, if any, and (b) such withdrawal or reduction shall be irrevocable.

 

3.5           Withdrawal
and Cancellation of Registration. Any Participating Holder may withdraw its Registrable Securities from a Demand Registration
at any time and any Requesting Holders shall have the right to cancel a proposed Demand Registration of Registrable Securities
pursuant to this Article III in accordance with the first sentence of Section 4.3 hereof (i) when the request
for cancellation is based upon material adverse information relating to Lionsgate that the AT&T Group was not aware of at the
time of the Demand Request (including, for the avoidance of doubt, material adverse information that is materially different from
the information that the AT&T Group was aware of at the time of the Demand Request), (ii) if a Suspension Period occurs after
a Demand Request but before the Registrable Securities covered by such Demand Request are sold, transferred, exchanged or disposed
of in accordance with such Demand Request, or (iii) if Lionsgate has breached its obligations hereunder with respect to such Demand
Registration and such breach has caused, or would reasonably be expected to cause, an Adverse Effect. Upon such cancellation, Lionsgate
shall cease all efforts to secure registration with respect to Registrable Securities of Participating Holders and such Demand
Registration shall not be counted as a Demand Registration under this Agreement for any purpose; provided, however,
that notwithstanding anything to the contrary in this Agreement, Lionsgate shall be responsible for the expenses of the Participating
Holders incurred in connection with such

 

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cancelled registration through the date that is four (4) Business
Days after the date on which any Participating Holders (X) had a right to cancel pursuant to the foregoing clauses (i) or (ii),
or (Y) became aware of their right to cancel pursuant to the foregoing clause (iii), in each of clauses (X) and (Y) to the
extent such expenses are as described in clauses (i) through (x) of the first sentence of Article IX hereof. Any
expense reimbursement paid pursuant to clause (Y) of the immediately preceding sentence shall be in addition to any other remedy
to which the Participating Holders may be entitled in law or in equity (but, for the avoidance of doubt, the Participating Holders
may not recover the same expense twice).

 

3.6           Registration
Statement Form. Registrations under this Article III shall be on such appropriate registration form of the Commission
then applicable to Lionsgate (i) as shall be selected by Lionsgate and as shall be reasonably acceptable to the Requesting Holders
and (ii) as shall permit the disposition of the Registrable Securities in accordance with the intended method or methods of
disposition specified in the applicable Holders’ requests for such registration. Notwithstanding the foregoing, if, pursuant
to a Demand Registration, (x) Lionsgate proposes to effect registration by filing a registration statement on Form S-3 (or
any successor or similar short-form registration statement), (y) such registration is in connection with an Underwritten Offering
and (z) the managing underwriter shall advise Lionsgate in writing that, in its or their opinion, the use of another form of registration
statement (or the inclusion, rather than the incorporation by reference, of information in the Prospectus related to a registration
statement on Form S-3 (or other short-form registration statement)) is of material importance to the success of such proposed
offering, then such registration shall be effected on such other form (or such information shall be so included in such Prospectus).

 

ARTICLE IV

 

PIGGYBACK REGISTRATIONS

 

4.1           Holder
Piggyback Registration. If Lionsgate proposes to file a Registration Statement (including, for the avoidance of doubt, a shelf
registration statement or amendment or supplement thereto) with respect to an offering of Common Shares, or securities convertible
into or exchangeable for Common Shares, for its own account or for the account of securityholders (other than the Holders) of Lionsgate
(except pursuant to registrations in connection with any merger, acquisition or other business combination or registrations on
Form S-4 or any successor form, on Form S-8 or any successor form relating solely to securities issued pursuant to any
benefit plan, an offering of securities solely to then existing securityholders of Lionsgate, a dividend reinvestment plan or an
exchange offer) on a form that would permit registration of Registrable Securities for sale to the public under the Securities
Act, then Lionsgate shall give written notice of such proposed filing to the Holders not less than 21 days before the anticipated
filing date, describing in reasonable detail the proposed registration (including the number and class or series of securities
proposed to be registered, the proposed date of filing of such Registration Statement, any proposed means of distribution of such
securities, any proposed managing underwriter of such securities and a good faith estimate by Lionsgate of the proposed maximum
offering price of such securities as such price is proposed to appear on the facing page of such Registration Statement), and offering
such Holders the opportunity to register such number of Registrable Securities of the same class as those being registered by Lionsgate
as each such Holder may request in writing (each a “Piggyback 

 

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Registration”). Subject to Sections 6.2
and 6.3 hereof, upon the written request of any Holder (a “Piggyback Request”), received by Lionsgate
no later than ten (10) Business Days after receipt by such Holder of the notice sent by Lionsgate, to register, on the same terms
and conditions as the same class of securities otherwise being sold pursuant to such registration, any of such Holder’s Registrable
Securities of the same class as those being registered (which request shall state the intended method of disposition thereof if
the securities otherwise being sold are being sold by more than one method of disposition), Lionsgate shall use its reasonable
efforts to cause such Registrable Securities as to which registration shall have been so requested to be included in the Registration
Statement proposed to be filed by Lionsgate on the same terms and conditions as the same class of securities otherwise being sold
pursuant to such registration; provided, however, that notwithstanding the foregoing, Lionsgate may at any time,
in its sole discretion, without the consent of any other Holder, delay or abandon the proposed offering in which any Holder had
requested to participate pursuant to this Section 4.1 or cease the filing (or obtaining or maintaining the effectiveness)
of or withdraw the related Registration Statement or other governmental approvals, registrations or qualifications. In such event,
Lionsgate shall so notify each Holder that had notified Lionsgate in accordance with this Section 4.1 of its intention
to participate in such offering and Lionsgate shall incur no liability for its failure to complete any such offering; provided,
however, that in the event Lionsgate has initiated the offering for its own account, Lionsgate shall pay all expenses incurred
by a Holder in connection with such delayed, abandoned or cancelled registration to the extent such expenses are described in clauses
(i) through (x) of the first sentence of Article IX hereof.

 

4.2           Priority
on Piggyback Registrations. If the managing underwriter for a Piggyback Registration effected by means of an Underwritten Offering
(or in the case of a Piggyback Registration not being underwritten, Lionsgate, in good faith) advises the Holders in writing that
the inclusion of the Registrable Securities and securities proposed to be included by Holders who have elected to participate pursuant
to Section 4.1 and any other Persons, including the Existing Investors, who have elected to participate in such offering
pursuant to written agreements with Lionsgate (in each case, “Piggybacking Holders”) and proposed to be included
by Lionsgate, would cause an Adverse Effect, then Lionsgate shall be obligated to include in such Registration Statement only that
number of Registrable Securities which, in the judgment of the managing underwriter (or Lionsgate in good faith, as applicable),
would not have an Adverse Effect, in the priority listed below:

 

(a)           if
the registration is undertaken for Lionsgate’s account:  (x) first, the securities that Lionsgate desires to include, (y)
second, the securities of any Existing Investor proposed to be included by such Existing Investor and (z) third, any other securities
(or, in the case of a Holder, the Registrable Securities) proposed to be included by the Piggybacking Holders (other than the Existing
Investors). Any reduction in the number of securities to be included in a Registration Statement pursuant to the foregoing clause
(y) shall be effected by allocating the number of securities to be included (after including securities contemplated by clause
(x)) pro rata among all the Existing Investors based for each such Existing Investor on the percentage derived by dividing (i)
the aggregate number of Common Shares that such Existing Investor holds by (ii) the total number of Common Shares that all such
Existing Investors hold in the aggregate. Any reduction in the number of securities to be included in a Registration Statement
pursuant to the foregoing clause (z) shall be effected by allocating the number of securities to be included (after including securities
contemplated by clauses (x) and (y)) pro rata

 

    	 	10	 

     

    

 

among all the Piggybacking Holders (other than the Existing
Investors) based for each such Piggybacking Holder on the percentage derived by dividing (i) the aggregate number of Common Shares
that such Piggybacking Holder holds by (ii) the total number of Common Shares that all such Piggybacking Holders (other than the
Existing Investors) hold in the aggregate; and

 

(b)           if
the registration is undertaken at the demand of a securityholder of Lionsgate (other than the Holders), (x) first, the securities
that the demanding securityholder desires to include, (y) second, the securities of any Existing Investor proposed to be included
by such Existing Investor and by Lionsgate and (z) third, any other securities (or in the case of Holders, the Registrable Securities)
proposed to be included by the Piggybacking Holders (other than the Existing Investors). Any reduction in the number of securities
to be included in a Registration Statement pursuant to the foregoing clause (y) shall be effected by allocating the number of securities
to be included (after including securities contemplated by clause (x)) pro rata among the Existing Investors based for each such
Existing Investor on the percentage derived by dividing (i) the aggregate number of Common Shares that such Existing Investor holds
by (ii) the total number of Common Shares that all such Existing Investors hold in the aggregate; provided, however,
that Lionsgate shall be entitled to participate on a pro rata basis up to the sum of the number of securities allocated to the
Existing Investors pursuant to this sentence, unless the managing underwriter (or in the case of a Piggyback Registration not being
underwritten, Lionsgate, in good faith) determines that inclusion of additional securities by Lionsgate above such amount would
not cause an Adverse Effect. Any reduction in the number of securities to be included in a Registration Statement pursuant to the
foregoing clause (z) shall be effected by allocating the number of securities to be included (after including securities contemplated
by clauses (x) and (y)) pro rata among the Piggybacking Holders (other than the Existing Investors) based for each such Piggybacking
Holder on the percentage derived by dividing (i) the aggregate number of Common Shares that such Piggybacking Holder holds by (ii)
the total number of Common Shares that all such Piggybacking Holders (other than the Existing Investors) hold in the aggregate.

 

4.3           Withdrawals.
Each Holder shall have the right to withdraw its request for inclusion of all or any of its Registrable Securities in any Registration
Statement pursuant to this Article IV by giving written notice to Lionsgate of its request to withdraw; provided,
however, that (i) such request must be made in writing prior to the execution of the underwriting agreement with respect
to such registration or, in the case of a non-underwritten offering, the effective date of the Registration Statement or applicable
prospectus supplement pertaining to such offering and (ii) such withdrawal shall be irrevocable. In the event that a Holder withdraws
and (i) the request for withdrawal is based upon material adverse information relating to Lionsgate that the AT&T Group was
not aware of at the time of the Holder’s Piggyback Request (including, for the avoidance of doubt, material adverse information
that is materially different from the information that the AT&T Group was aware of at the time of the Piggyback Request), (ii)
if a Suspension Period occurs after such Piggyback Request but before the Registrable Securities covered by such Piggyback Request
are sold, transferred, exchanged or disposed of in accordance with such Piggyback Request, or (iii) if Lionsgate has breached its
obligations hereunder with respect to such Piggyback Registration and such breach has caused, or would reasonably be expected to
cause, an Adverse Effect, then Lionsgate shall pay all expenses incurred by a Holder in connection with such cancelled registration
through the date that is four

 

    	 	11	 

     

    

 

(4) Business Days after the date on which any Participating
Holders (X) had a right to withdraw pursuant to the foregoing clauses (i) or (ii), or (Y) became aware of their right to withdraw
pursuant to the foregoing clause (iii), in each of clauses (X) and (Y) to the extent such expenses are as described in clauses
(i) through (x) of the first sentence of Article IX hereof. Any expense reimbursement paid pursuant to clause (Y) of
the immediately preceding sentence shall be in addition to any other remedy to which the Participating Holders may be entitled
in law or in equity (but, for the avoidance of doubt, the Participating Holders may not recover the same expense twice).

 

4.4           Underwritten
Offerings. In connection with the exercise of any registration rights granted to Holders pursuant to this Article IV,
if the registration is to be effected by means of an Underwritten Offering, Lionsgate may condition participation in such registration
by any such Holder upon inclusion of the Registrable Securities being so registered in such underwriting and such Holder’s
entering into an underwriting agreement pursuant to Section 7.2(d) hereof.

 

ARTICLE V

 

SHELF REGISTRATION

 

5.1           Shelf
Registration Filing.

 

(a)           Subject
to Section 5.1(b) and Sections 6.2 and 6.3 hereof, within sixty (60) days following a written request
by a Holder (a “Shelf Request”), Lionsgate shall file with the Commission, and use its reasonable efforts to
have declared effective as soon as practicable, a Registration Statement (the “Shelf Registration Statement”)
relating to the offer and sale of all of the Registrable Securities held by the Holders to the public from time to time, on a delayed
or continuous basis. Subject to Section 5.3(c) hereof, any Shelf Registration Statement may be a universal shelf registration
statement that relates to the offer and sale of Lionsgate securities other than Registrable Securities. Any registration effected
pursuant this Section 5.1(a) shall not be deemed to constitute a Demand Registration. The Shelf Registration Statement
shall specify the intended method of distribution of the subject Registrable Securities substantially in the form of Exhibit
A attached hereto. Lionsgate shall file the Shelf Registration Statement on Form S-3 or, if Lionsgate or the offering
of the Registrable Securities does not satisfy the requirements for use of such form, such other form as may be appropriate; provided,
however, that if the Shelf Registration Statement is not filed on Form S-3, Lionsgate shall, promptly upon meeting
the requirements for use of such form, file an appropriate amendment to the Shelf Registration Statement to convert it to Form S-3.

 

(b)           Any
subsequent Shelf Requests after the initial Shelf Request pursuant to Section 5.1(a) may only be made if such subsequent
Shelf Request covers all of the Registrable Securities then issued to the Holders pursuant to the Securities Issuance Agreement.

 

5.2           Required
Period and Shelf Registration Procedures. Subject to Section 5.1 and to any Suspension Period(s) referred to below,
Lionsgate shall (i) cause the Shelf Registration Statement to include a resale Prospectus intended to permit each Holder to sell,
at such Holder’s election, all or part of the applicable class or series of Registrable Securities held

 

    	 	12	 

     

    

 

by such Holder without restriction under the Securities Act,
(ii) use its reasonable efforts to prepare and file with the Commission such supplements, amendments and post-effective amendments
to such Shelf Registration Statement as may be necessary to keep such Shelf Registration Statement continuously effective for so
long as the securities registered thereunder constitute Registrable Securities, and (iii) use its reasonable efforts to cause the
resale Prospectus to be supplemented by any Prospectus supplement required in order for such Holders to sell their Registrable
Securities without restriction under the Securities Act.

 

5.3           Underwritten
Shelf Offerings.

 

(a)           Subject
to Section 5.3(b), if the Holders who are included in any offering pursuant to a Shelf Registration Statement so elect,
and such Holders have requested to include all Registrable Securities owned by them in such offering, then the Holders may elect
to conduct such offering in the form of an Underwritten Offering and the terms of this Article V shall otherwise apply
with respect to such Underwritten Offering on such Shelf Registration Statement. With respect to any such qualifying Underwritten
Offering, Lionsgate shall select an investment banking firm of national standing to be the managing underwriter for the offering,
which firm shall be reasonably acceptable to the Participating Holders.

 

(b)           Notwithstanding
Sections 5.1 and 5.3(a), subject to Lionsgate’s compliance with its obligations under Article IV
hereof, Lionsgate shall not be obligated to take any action (including, for the avoidance of doubt, filing a Shelf Registration
Statement or amendment thereto) to effect an Underwritten Offering on a Shelf Registration Statement and no Holder shall sell,
or offer to sell, any Registrable Securities in any Underwritten Offering requested pursuant to Section 5.3(a) if,
within the 30-day period prior to any election by a Holder pursuant to Section 5.3(a), Lionsgate has issued a notice
to the Holders pursuant to Section 4.1 hereof of a proposed registered Underwritten Offering of Common Shares for its
own account, continuing while Lionsgate continues in good faith to pursue such registered Underwritten Offering and ending upon
the earliest to occur of: (A) in the case of a Registration Statement on Form S-3 (or any successor or similar short-form
registration statement), forty-five (45) days and in the case of a Registration Statement on Form S-1 (or any successor or
similar long-form registration statement), sixty (60) days, in each case following Lionsgate’s issuance of the notice to
the Holders pursuant to Section 4.1 hereof, unless, on or prior to such date, Lionsgate shall have executed an underwriting
agreement with the managing underwriter with respect to such proposed Underwritten Offering; provided that such forty-five
(45) or sixty (60) day period (as applicable) shall be extended for up to forty-five (45) additional days if the underwriting agreement
has not been executed because there has been a failure to resolve all requirements of the Commission in connection with declaring
such Registration Statement or applicable prospectus supplement effective during such additional 45-day period; (B) the abandonment,
cessation or withdrawal of such Underwritten Offering; (C) 90 days following the effective date of the prospectus supplement pertaining
to such Underwritten Offering; or (D) the date that all of the Common Shares covered thereby have been disposed of in accordance
with the intended methods of disposition. If Lionsgate issues a notice of a proposed Underwritten Offering of Common Shares for
its own account pursuant to Section 4.1 hereof and subsequently abandons, ceases or withdraws such Underwritten Offering,
any notice thereafter issued by Lionsgate of a subsequent proposed Underwritten Offering of Common Shares for its own account pursuant
to Section 4.1 hereof shall not pre-empt Lionsgate’s obligations pursuant to Section 5.1 or 5.3(a)
or

 

    	 	13	 

     

    

 

restrict the Holders’ rights to sell, or offer to sell,
any Registrable Securities in any Underwritten Offering requested pursuant to Section 5.1 or 5.3(a) during the 30-day
period commencing on the day immediately following the date that the AT&T Group receives notice from Lionsgate of such abandonment,
cessation or withdrawal of such Underwritten Offering.

 

(c)           With
respect to any Underwritten Offering of Registrable Securities on a Shelf Registration Statement initiated by the Holders pursuant
to Section 5.3(a) hereof, no securities to be sold for the account of any Person (including Lionsgate) other than the
Holders shall be included in such Underwritten Offering; provided that securities to be sold for the account of Lionsgate
and any Ten Percent Holder may be included in such Shelf Registration Statement if, and only if, the managing underwriter advises
the Holders and Lionsgate in writing that the inclusion of such securities would not have an Adverse Effect on such Underwritten
Offering.

 

ARTICLE VI

 

STANDSTILL AND SUSPENSION PERIODS

 

6.1           Lionsgate
Standstill Period. Subject to Sections 3.4 and 5.3(c), in the event of (i) any Demand Registration pursuant to
Section 3.1 hereof in which the Requesting Holders are registering more than 1,000,000 Registrable Securities (as adjusted
for any stock splits, stock dividends, combinations, reorganizations or similar events) in the aggregate, (ii) any Underwritten
Offering pursuant to Section 3.3 hereof or (iii) any Underwritten Offering on a Shelf Registration Statement pursuant
to Section 5.3(a) hereof, Lionsgate agrees not to, without the prior written consent of the Holders, (x) offer, sell,
contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly,
or file with the Securities and Exchange Commission a registration statement under the Securities Act of 1933, as amended, relating
to, any securities of Lionsgate that are substantially similar to such Registrable Securities, including but not limited to any
options or warrants to purchase Common Shares or any securities that are convertible into or exchangeable for, or that represent
the right to receive, Common Shares or any such substantially similar securities, or publicly disclose the intention to make any
offer, sale, pledge, disposition or filing or (y) enter into any swap or other agreement that transfers, in whole or in part, any
of the economic consequences of ownership of the Common Shares or any such other securities, whether any such transaction described
in clause (x) or (y) above is to be settled by delivery of Common Shares or such other securities, in cash or otherwise (in each
case, other than (A) any securities issued upon the exercise of any option or warrant or the conversion, exchange or redemption
of any security outstanding as of the beginning of the applicable standstill period, (B) any options, restricted stock units or
other equity awards granted to employees, officers or directors pursuant to any of Lionsgate’s employee or director stock
option, incentive or benefit plans existing as of the beginning of the applicable standstill period or assumed by Lionsgate in
connection with any merger, acquisition or other business combination, (C) any securities issued pursuant to Lionsgate’s
employee stock purchase plan or pursuant to equity awards of any kind under any of Lionsgate’s employee or director stock
option, incentive or benefit plans existing as of the beginning of the applicable standstill period or assumed by Lionsgate in
connection with any merger, acquisition or other business combination, (D) the filing of any registration statement on Form S-8
or other appropriate form as required by the Act, and any amendments to such forms, in respect of any

 

    	 	14	 

     

    

 

securities or any other of Lionsgate’s equity based securities
issuable pursuant to any employee benefit plan of Lionsgate existing as of the beginning of the applicable standstill period or
assumed by Lionsgate in connection with any merger, acquisition or other business combination, (E) any Common Shares issuable in
lieu of the payment of cash dividends pursuant to Lionsgate’s quarterly cash dividend policy, (F) any Common Shares or any
other of Lionsgate’s equity securities, in an amount up to an aggregate of 10.0% of Lionsgate’s fully-diluted shares
outstanding as the beginning of the applicable standstill period, issuable in connection with any transaction, including, without
limitation, a merger, acquisition or other business combination, an asset sale or a carve-out, and the filing of any registration
statement in connection therewith, (G) any Common Shares or any other of Lionsgate’s equity securities issuable in connection
with any rescission of purchases of Common Shares under Lionsgate’s 401(k) Plan and (H) any transaction or series of related
transactions involving up to $150,000,000 of Lionsgate’s equity or debt securities), (x) in the case of any Demand Registration
pursuant to Section 3.1 in which the Requesting Holders are registering more than 1,000,000 Registrable Securities
(as adjusted for any stock splits, stock dividends, combinations, reorganizations or similar events) in the aggregate or any Underwritten
Offering pursuant to Section 3.4, during the ninety (90) day period (not including any Suspension Periods) commencing
on the effective date of the Registration Statement relating to such Registrable Securities or, if earlier, the date that all of
such Registrable Securities covered thereby have been disposed of in accordance with the intended methods of disposition by the
Participating Holders or the abandonment, cessation or withdrawal of such offering by all the Requesting Holders, and (y) in the
case of an Underwritten Offering on a Shelf Registration Statement pursuant to Section 5.3(a) hereof, during the ninety
(90) day period (not including any Suspension Periods) commencing on the effective date of the prospectus supplement pertaining
to such Underwritten Offering or, if earlier, the date that all of such Registrable Securities covered thereby have been disposed
of in accordance with the intended methods of disposition by the Participating Holders or the abandonment, cessation or withdrawal
of such Underwritten Offering by all the Requesting Holders.

 

6.2           Suspension
Period.

 

(a)           Lionsgate
shall not be required to use reasonable efforts to cause a Registration Statement to be filed pursuant to this Agreement or to
be declared effective, or to keep current any Registration Statement or file any prospectus supplement or amendment (other than
as required by the periodic report and proxy statement disclosure requirements of the Securities Exchange Act of 1934, including
Sections 13 or 15(d) thereof and Forms 10-K, 10-Q, 8-K or 14A thereunder), or permit Holders to sell or transfer securities thereunder,
if Lionsgate possesses material non-public information and determines in good faith that it need not otherwise make such disclosure
or filing; provided that at all times Lionsgate continues in good faith to make public disclosures so as to continue and
comply with its past practice with respect to the non-disclosure of material non-public information. In furtherance of and pursuant
to the last proviso of the preceding sentence and following public disclosure by Lionsgate, at such time as Lionsgate no longer
possesses material non-public information regarding Lionsgate, the Suspension Period (as defined below) shall immediately terminate.
Any period during which the Holders are prohibited from effecting sales or Lionsgate exercises its rights in each case pursuant
to this Section 6.2(a) shall constitute a “Suspension Period.”

 

    	 	15	 

     

    

 

(b)           Each
Holder agrees that, upon receipt of a written notice from Lionsgate of a Suspension Period (a “Suspension Notice”),
such Holder shall forthwith discontinue any disposition of Registrable Securities pursuant to any Registration Statement until
such Holder’s receipt of a notice from Lionsgate to the effect that such Suspension Period has terminated. On the last day
of any thirty (30) day period following delivery of the Suspension Notice during which the Suspension Period remains in effect,
Lionsgate shall deliver a written notice to the AT&T Representative that the Suspension Period remains in effect (a “Bring-Down
Suspension Notice”). Any Suspension Notice or Bring-Down Suspension Notice shall (i) be signed by the Chief Executive
Officer, Chief Financial Officer, General Counsel, President or any Vice President of Lionsgate and (ii) provide that, as of the
date of such Suspension Notice or Bring-Down Suspension Notice, as the case may be, Lionsgate (a) possesses material non-public
information, (b) has determined in good faith that it need not publicly disclose such material non-public information and (c) has
continued in good faith to make public disclosures so as to continue and comply with its past practice with respect to the non-disclosure
of material non-public information. If so directed by Lionsgate, such Holder shall deliver to Lionsgate (at Lionsgate’s expense)
all copies, other than permanent file copies, then in such Holder’s possession, of the most recent Prospectus covering such
Registrable Securities at the time of receipt of such Suspension Notice. Lionsgate covenants and agrees that it shall not deliver
a Suspension Notice with respect to a Suspension Period unless all Lionsgate employees, officers and directors who are subject
to Lionsgate’s Insider Trading Compliance Policy, and who are prohibited by the terms thereof from effecting any public sales
of securities of Lionsgate beneficially owned by them, are so prohibited for the duration of such Suspension Period. In the event
of a Suspension Notice, Lionsgate shall, promptly after such time as it no longer possesses material non-public information that
it has determined in good faith need not otherwise be disclosed, provide notice to all Holders that the Suspension Period has ended,
and take any and all actions necessary or desirable to give effect to any Holders’ rights under this Agreement that may have
been affected by such notice, including the Holders’ Demand Registration rights and rights with respect to the Shelf Registration
Statement.

 

(c)           During
any time that the AT&T Group possesses material, non-public information with respect to Lionsgate, no Holder may effect any
sales under any Registration Statement of Lionsgate; provided, however, that the AT&T Group shall not be in breach
of this Section 6.2(c) if Lionsgate (x) was aware of the material non-public information in the AT&T Group’s
possession at the time of the Holder’s sale (including, for the avoidance of doubt, non-public information in the AT&T
Group’s possession at the time of the Holder’s sale that is reasonably required in order to determine the materiality
of such non-public information) and (y) did not issue a Suspension Notice with respect thereto prior to such sale.

 

6.3           Holder
Standstill Period. Each Holder of Registrable Securities (whether or not such Registrable Securities are covered by the Shelf
Registration Statement or by a Registration Statement filed pursuant to Section 3.1 or 4.1 hereof) agrees to
enter into a customary lock-up agreement with the managing underwriter for any Underwritten Offering of Lionsgate’s securities
for its own account with respect to the same class or series of securities being registered pursuant to such Registration Statement,
containing terms reasonably acceptable to such managing underwriter (with an exception for transfers pursuant to hedging transactions
entered into prior to the time that AT&T had notice of such Underwritten Offering), covering the period commencing 15 days
prior to the effective date of the Registration Statement or, if

 

    	 	16	 

     

    

 

applicable, the prospectus supplement, pertaining to such Underwritten
Offering relating to such securities of Lionsgate and ending on the 90th day after such effective date (or such shorter period
as shall have been agreed to by Lionsgate’s executive officers and directors in their respective lock-up agreements); provided,
however, that the obligations of each Holder under this Section 6.3 shall apply only: (i) if such Holder shall
be afforded the right (whether or not exercised by the Holder) to include Registrable Securities in such Underwritten Offering
in accordance with and subject to the provisions of Article IV hereof; and (ii) if the aggregate restriction periods
in such Holder’s lock-up agreements entered into pursuant to this Section 6.3 shall not exceed an aggregate of
180 days during any 365-day period.

 

ARTICLE VII

 

REGISTRATION PROCEDURES

 

7.1           Lionsgate
Obligations. Whenever Lionsgate is required pursuant to this Agreement to register Registrable Securities, it shall (it being
understood and agreed that except as otherwise expressly set forth in this Article VII, if any other provision of this
Agreement is more favorable to the Holders than the provisions of this Article VII, such other provision shall apply):

 

(a)           provide
the Participating Holders and their respective counsel with a reasonable opportunity to review, and comment on, any Registration
Statement to be prepared and filed pursuant to this Agreement prior to the filing thereof with the Commission, and make all changes
thereto as any Participating Holder may reasonably request in writing to the extent such changes are required, in the reasonable
judgment of Lionsgate’s counsel, by the Securities Act and, except in the case of a registration under Article IV, not
file any Registration Statement or Prospectus or amendments or supplements thereto, which registers Registrable Securities held
by Holders, to which the Holders of a majority of the class or series of Registrable Securities covered by the same or the underwriter
or underwriters, if any, shall reasonably object;

 

(b)           cause
any such Registration Statement and the related Prospectus and any amendment or supplement thereto, as of the effective date of
such Registration Statement, amendment or supplement, (i) to comply in all material respects with the applicable requirements of
the Securities Act and the rules and regulations of the Commission promulgated thereunder and (ii) not to contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading (except that this clause (ii) shall not apply to statements
made or statements omitted by Lionsgate in reliance upon and in conformity with written information furnished to Lionsgate by any
Holder solely with respect to such Holder and specifically for inclusion in the Registration Statement or any amendment or supplement
thereto), or, if for any other reason it shall be necessary to amend or supplement such Registration Statement or Prospectus in
order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file
with the Commission an amendment or supplement to such Registration Statement or Prospectus which will correct such statement or
omission or effect such compliance;

 

    	 	17	 

     

    

 

(c)           furnish,
at its expense, to the Participating Holders such number of conformed copies of such Registration Statement and of each such amendment
thereto (in each case including all exhibits thereto, except that Lionsgate shall not be obligated to furnish to any such Participating
Holder more than two (2) copies of such exhibits), such number of copies of the Prospectus included in such Registration Statement
(including each preliminary Prospectus and each supplement thereto), and such number of the documents, if any, incorporated by
reference in such Registration Statement or Prospectus, as the Participating Holders reasonably may request; provided that
Lionsgate shall have no obligation to provide any document pursuant to this clause that is available on the Commission’s
EDGAR or IDEA system;

 

(d)           use
its reasonable efforts to register or qualify the Registrable Securities covered by such Registration Statement under such securities
or “blue sky” laws of the states of the United States as the Participating Holders reasonably shall request, to keep
such registration or qualification in effect for so long as such Registration Statement remains in effect, and to do any and all
other acts and things that may be necessary or advisable to enable the Participating Holders to consummate the disposition in such
jurisdictions of the Registrable Securities covered by such Registration Statement, except that Lionsgate shall not, for any such
purpose, be required to qualify generally to do business as a foreign corporation in any jurisdiction in which it is not obligated
to be so qualified, or to subject itself to material taxation in any such jurisdiction, or to consent to general service of process
in any such jurisdiction; and use its reasonable efforts to obtain all other approvals, consents, exemptions or authorizations
from such securities regulatory authorities or governmental agencies as may be necessary to enable such Participating Holders to
consummate the disposition of such Registrable Securities;

 

(e)           promptly
notify the Participating Holders, at any time when a Prospectus or Prospectus supplement relating thereto is required to be delivered
under the Securities Act, upon discovery that, or upon the occurrence of any event as a result of which, the Prospectus included
in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading, which untrue statement or omission requires amendment of the Registration Statement or supplementing
of the Prospectus, and, as promptly as practicable (subject to Section 6.2 hereof), prepare and furnish, at its expense,
to the Participating Holders a reasonable number of copies of a supplement to such Prospectus as may be necessary so that, as thereafter
delivered to the purchasers of such Registrable Securities, such Prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided, however, that with respect to Registrable
Securities registered pursuant to such Registration Statement, each Holder agrees that it shall not enter into any transaction
for the sale of any Registrable Securities pursuant to such Registration Statement during the time after the furnishing of Lionsgate’s
notice that Lionsgate is preparing a supplement to or an amendment of such Prospectus or Registration Statement and until the filing
and effectiveness thereof;

 

(f)           use
its reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to holders of
its securities, as soon as practicable, an earnings statement covering the period of at least 12 months, but not more than 18

 

    	 	18	 

     

    

 

months, beginning with the first month of the first fiscal quarter
after the effective date of such Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a)
of the Securities Act and Rule 158 thereunder;

 

(g)           provide,
and cause to be maintained, a transfer agent and registrar for the Registrable Securities covered by such Registration Statement
(which transfer agent and registrar shall, at Lionsgate’s option, be Lionsgate’s existing transfer agent and registrar)
from and after a date not later than the effective date of such Registration Statement;

 

(h)           notify
the Participating Holders and the managing underwriter, if any, promptly, and (if requested by any such Person) confirm such notice
in writing, (i) when a Registration Statement, Prospectus, Prospectus supplement or post-effective amendment related to such Registration
Statement has been filed, and, with respect to such Registration Statement or any post-effective amendment thereto, when the same
has become effective, (ii) of any request by the Commission or any other federal or state governmental authority for amendments
or supplements to such Registration Statement or related Prospectus, (iii) of the issuance by the Commission or any other federal
or state governmental authority of any stop order suspending the effectiveness of such Registration Statement or the initiation
of any proceedings for that purpose and (iv) of the receipt by Lionsgate of any notification with respect to the suspension of
the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose;

 

(i)           use
its reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Registration Statement, or the
lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale
in any jurisdiction, as soon as practicable;

 

(j)           in
the event of an Underwritten Offering of Registrable Securities pursuant to Section 3.3 or 5.3 hereof, enter
into customary agreements (including underwriting agreements in customary form, which may include, in the case of an Underwritten
Offering on a firm commitment basis, “lock-up” obligations substantially similar to Section 6.1 hereof)
and take such other actions (including using its reasonable efforts to make such road show presentations and otherwise engaging
in such reasonable marketing support in connection with any such Underwritten Offering, including the obligation to make its executive
officers available for such purpose if so requested by the managing underwriter for such offering) as are reasonably requested
by the managing underwriter in order to expedite or facilitate the sale of such Registrable Securities;

 

(k)           make
available for inspection by each Participating Holder, any underwriter participating in any disposition pursuant to such registration,
and any attorney, accountant or other agent retained by such Participating Holder or any such underwriter (collectively, the “Inspectors”),
all financial and other records, pertinent corporate documents and properties of Lionsgate and any of its subsidiaries (collectively,
the “Records”) as shall be reasonably necessary to enable them to exercise their due diligence responsibility,
and cause the officers, directors and employees of Lionsgate to supply all information reasonably requested by any such Inspector
in connection with such registration, provided, however, that (i) in connection with any such inspection, any such
Inspectors shall cooperate to the extent reasonably practicable

 

    	 	19	 

     

    

 

to minimize any disruption to the operation by Lionsgate of
its business and shall comply with all Lionsgate site safety rules, (ii) Records and information obtained hereunder shall be used
by such Inspectors only to exercise their due diligence responsibility and (iii) Records or information furnished or made available
hereunder shall be kept confidential and shall not be disclosed by such Participating Holder, underwriter or Inspectors unless
(A) the disclosing party advises the other party that the disclosure of such Records or information is necessary to avoid
or correct a misstatement or omission in a Registration Statement or is otherwise required by law, (B) the release of such
Records or information is ordered pursuant to a subpoena or other order from a court or governmental authority of competent jurisdiction
(provided, however, that such Person shall use its reasonable efforts to provide Lionsgate with prior written notice
of such requirement to afford Lionsgate with an opportunity to seek a protective order or other appropriate remedy in response)
or (C) such Records or information otherwise become generally available to the public other than through disclosure by such
Participating Holder, underwriter or Inspector in breach hereof or by any Person in breach of any other confidentiality arrangement;

 

(l)            in
connection with any registration of an Underwritten Offering of Registrable Securities hereunder, use all reasonable efforts to
furnish to each Participating Holder and to the managing underwriter, if any, a signed counterpart, addressed to such Participating
Holder and the managing underwriter, if any, of (i) an opinion or opinions of counsel to Lionsgate and (ii) a comfort letter or
comfort letters from Lionsgate’s independent public accountants pursuant to Statement on Auditing Standards No. 72 (or any
successor thereto), each in customary form and covering such matters of the type customarily covered by opinions or comfort letters,
as the case may be, as each such Participating Holder and the managing underwriter, if any, reasonably requests;

 

(m)          in
connection with any registration of an Underwritten Offering of Registrable Securities hereunder, provide officers’ certificates
and other customary closing documents;

 

(n)           reasonably
cooperate with each seller of Registrable Securities and any underwriter in the disposition of such Registrable Securities and
with underwriters’ counsel, if any, in connection with any filings required to be made with the Financial Industry Regulatory
Authority (“FINRA”);

 

(o)           use
its reasonable efforts to cause all such Registrable Securities to be listed on each securities exchange on which securities of
the same class or series issued by Lionsgate are then listed;

 

(p)           cooperate
with the Participating Holders and the managing underwriter, underwriters or agent, if any, to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and

 

(q)           use
its reasonable efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with
or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the
underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities.

 

    	 	20	 

     

    

 

7.2           Holder
Obligations. Each Holder agrees:

 

(a)           that
it shall furnish to Lionsgate such information regarding such Holder and the plan and method of distribution of Registrable Securities
intended by such Holder (i) as Lionsgate may, from time to time, reasonably request in writing and (ii) as shall be required by
law or by the Commission in connection therewith;

 

(b)           that
information obtained by it or by its Inspectors shall be deemed confidential and shall not be used by it as the basis for any market
transactions in the securities of Lionsgate or its Affiliates unless and until such information is made generally available to
the public;

 

(c)           to
use its reasonable efforts, prior to making any disclosure allowed by Section 7.1(k)(iii)(A) or (B) hereof,
to inform Lionsgate that such disclosure is necessary to avoid or correct a misstatement or omission in the Registration Statement
or ordered pursuant to a subpoena or other order from a court or governmental authority of competent jurisdiction or otherwise
required by law;

 

(d)           in
the case of an Underwritten Offering of Registrable Securities pursuant to this Agreement, if requested by the managing underwriter,
to enter into an underwriting agreement with the underwriters for such offering containing such representations and warranties
by each Holder and such other terms and provisions as are customarily contained in such underwriting agreements, including customary
indemnity and contribution provisions and “lock-up” obligations substantially similar to Section 6.3 hereof;
and

 

(e)           to
notify Lionsgate as soon as practicable if it becomes aware of the occurrence of any event, development or fact as a result of
which a Registration Statement or any Prospectus or supplement, as then in effect, contains an untrue statement of a material fact
with respect to such Holder or omits to state any material fact with respect to such Holder required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however,
that the Holder shall not be required to notify Liongate, or may limit such notification, as the case may be, solely to the extent
necessary, as determined in good faith by such Holder on the advice of counsel, in order not to be in violation of or default under
any applicable law, regulation, rule, stock exchange requirement, self-regulatory body, supervisory authority, legal process or
fiduciary duty.

 

7.3           Hedging
Transactions. The parties agree that the provisions of this agreement relating to the registration, offer and sale of Registrable
Securities apply also to any transaction which transfers some or all of the economic risk of ownership of Registrable Securities,
including any forward contract, equity swap, put or call, put or call equivalent position, collar, margin loan, sale of exchangeable
security or similar transaction (including the registration, offer and sale under the Securities Act of Registrable Securities
pledged to the counterparty to such transaction or of securities of the same class as the underlying Registrable Securities by
the counterparty to such transaction in connection therewith), and that the counterparty to such transaction shall be selected
in the sole discretion of the Holders.

 

    	 	21	 

     

    

 

ARTICLE VIII

 

INDEMNIFICATION

 

8.1           Indemnification
by Lionsgate. In the event of any registration of any Registrable Securities under the Securities Act pursuant to this Agreement,
Lionsgate shall indemnify and hold harmless to the full extent permitted by law (i) each Holder, such Holder’s Affiliates
and their respective officers, directors, managers, partners, stockholders, employees, advisors, agents and other representatives
of the foregoing, and each of their respective successors and assigns, and each Person who controls any of the foregoing within
the meaning of the Securities Act and the Exchange Act, and (ii) any selling agent selected by the Holders or their Affiliates
with respect to such Registrable Securities (each such Person being sometimes referred to as an “Indemnified Person”),
against any and all losses, claims, damages, liabilities (or actions or proceedings in respect thereof, whether or not such Indemnified
Person is a party thereto) and expenses (including reasonable costs of investigations and legal expenses), joint or several (each
a “Loss” and collectively “Losses”), to which such Indemnified Person may become subject,
to the extent that such Losses (or related actions or proceedings) arise out of or are based upon (A) any untrue statement or alleged
untrue statement of any material fact contained in any Registration Statement in which such Registrable Securities were included
for registration under the Securities Act, including any preliminary or summary Prospectus or any final Prospectus included in
such Registration Statement (or any amendment or supplement to such Registration Statement or Prospectus) or any document incorporated
by reference therein, or (B) any omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein (in the case of the Prospectus and any preliminary Prospectus in light of the circumstances
under which they were made) not misleading; and Lionsgate agrees to reimburse such Indemnified Person for any legal or other expenses
reasonably incurred by it in connection with investigating or defending any such action or claim as such expenses are incurred;
provided, however, that Lionsgate shall have no obligation to provide any indemnification or reimbursement hereunder
(i) to the extent that any such Losses (or actions or proceedings in respect thereof) arise out of or are based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in such Registration Statement, preliminary Prospectus,
final Prospectus, amendment or supplement, in reliance upon and in conformity with written information furnished to Lionsgate by
the Holder, or on the Holder’s behalf, specifically for inclusion, respectively, in such Registration Statement, preliminary
Prospectus, final Prospectus, amendment or supplement, or (ii) in the case of a sale directly by a Holder of Registrable Securities
(including a sale of such Registrable Securities through any underwriter retained by such Holder engaging in a distribution solely
on behalf of Holders), to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was
contained in a preliminary Prospectus and corrected in a final, amended or supplemented Prospectus provided to such Holder prior
to the confirmation of the sale of the Registrable Securities to the Person asserting any such Loss, and such Holder failed to
deliver a copy of the final, amended or supplemented Prospectus at or prior to such confirmation of sale in any case in which such
delivery is required by the Securities Act, or (iii) in the case of a sale directly by a Holder of Registrable Securities (including
a sale of such Registrable Securities through any underwriter retained by such Holder engaging in a distribution solely on behalf
of Holders), to the extent that such untrue statement or alleged untrue statement or omission or

 

    	 	22	 

     

    

 

alleged omission was contained in a final Prospectus but was
corrected in an amended or supplemented final Prospectus provided to such Holder prior to the confirmation of the sale of the Registrable
Securities to the Person asserting any such Loss, and such Holder failed to deliver a copy of the amended or supplemented final
Prospectus at or prior to such confirmation of sale in any case in which such delivery is required by the Securities Act. The indemnity
provided in this Section 8.1 shall remain in full force and effect regardless of any investigation made by or on behalf
of such Holder or any Indemnified Person and shall survive the transfer or disposal of the Registrable Securities by the Holder
or any such other Persons. Lionsgate will also indemnify, if applicable and if requested, underwriters, selling brokers, dealer
managers and similar securities industry professionals participating in any distribution pursuant hereto, their officers and directors
and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as
provided above with respect to the indemnification of the Indemnified Persons. This indemnity shall be in addition to any liability
Lionsgate may otherwise have.

 

8.2           Indemnification
by the Holders. In the event of any registration of any Registrable Securities under the Securities Act pursuant to this Agreement,
each Holder shall, severally and not jointly, indemnify and hold harmless (in the same manner and to the same extent as set forth
in Section 8.1 hereof) Lionsgate, each director and officer of Lionsgate and each other Person, if any, who controls
Lionsgate within the meaning of the Securities Act and the Exchange Act (each such Person being sometimes referred to as a “Company
Indemnified Person”), against Losses to which Lionsgate or any such Persons may become subject under the Securities Act
or otherwise, to the extent that such Losses (or related actions or proceedings) arise out of or are based upon (A) any untrue
statement or alleged untrue statement of any material fact contained in any Registration Statement in which Registrable Securities
were included for registration under the Securities Act, or any preliminary Prospectus or any final Prospectus included in such
Registration Statement (or any amendment or supplement to such Registration Statement or Prospectus), or (B) any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein, (in the case
of the Prospectus and any preliminary Prospectus in light of the circumstances under which they were made) not misleading, in each
case, only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in such
Registration Statement, preliminary Prospectus, final Prospectus, amendment or supplement in reliance upon and in conformity with
written information furnished to Lionsgate by such Holder, or on such Holder’s behalf, specifically for inclusion, respectively,
in such Registration Statement, preliminary Prospectus, final Prospectus, amendment or supplement; and each Holder agrees to reimburse
such Company Indemnified Person for any legal or other expenses reasonably incurred by it in connection with investigating or defending
any such action or claim as such expenses are incurred; provided, however, that a Holder’s aggregate liability
under this Agreement shall be limited to an amount equal to the net proceeds (after deducting the underwriter’s discount
and expenses) received by such Holder from the sale of such Holder’s Registrable Securities pursuant to such registration.

 

8.3           Notice
of Claims, Etc. Promptly after receipt by any Person entitled to indemnity under Section 8.1 or 8.2
hereof (an “Indemnitee”) of notice of the commencement of any action or proceeding (an “Action”)
involving a claim referred to in such Sections, such Indemnitee shall, if indemnification is sought against an indemnifying party,
give written notice

 

    	 	23	 

     

    

 

to such indemnifying party of the commencement of such Action;
provided, however, that the failure of any Indemnitee to give said notice shall not relieve the indemnifying party
of its obligations under Section 8.1 or 8.2 hereof, except to the extent that the indemnifying party is actually
prejudiced by such failure. In case an Action is brought against any Indemnitee, and such Indemnitee notifies the indemnifying
party of the commencement thereof, each indemnifying party shall be entitled to participate therein and, to the extent it elects
to do so by written notice delivered to the Indemnitee promptly after receiving the aforesaid notice, to assume the defense thereof
with counsel selected by such Indemnitee and reasonably satisfactory to such indemnifying party. Notwithstanding the foregoing,
the Indemnitee shall have the right to employ its own counsel in any such case, but the fees and expenses of such counsel shall
be at the expense of such Indemnitee, unless (i) the employment of such counsel shall have been authorized in writing by the indemnifying
party, (ii) the indemnifying party shall not have employed counsel to take charge of the defense of such Action, reasonably promptly
after notice of the commencement thereof or (iii) such Indemnitee reasonably shall have concluded that there may be defenses available
to it which are different from or additional to those available to the indemnifying party which, if the indemnifying party and
the Indemnitee were to be represented by the same counsel, could result in a conflict of interest for such counsel or materially
prejudice the prosecution of the defenses available to such Indemnitee. If any of the events specified in clauses (i), (ii) or
(iii) of the preceding sentence shall have occurred or otherwise shall be applicable, then the fees and expenses of counsel for
the Indemnitee shall be borne by the indemnifying party; it being understood, however, that the indemnifying party shall not, in
connection with any one such claim or proceeding, or separate but substantially similar or related claims or proceedings arising
out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys
(together with appropriate local counsel) at any time for all Indemnitees hereunder, or for fees and expenses that are not reasonable.
Anything in this Section 8.3 to the contrary notwithstanding, an indemnifying party shall not be liable for the settlement
of any action effected without its prior written consent (which consent shall not unreasonably be withheld or delayed), but if
settled with the prior written consent of the indemnifying party, or if there shall be a final judgment adverse to the Indemnitee,
the indemnifying party agrees to indemnify the Indemnitee from and against any loss or liability by reason of such settlement or
judgment. No indemnifying party shall, without the prior consent of the Indemnitee (which consent shall not be unreasonably withheld
or delayed), consent to entry of any judgment or enter into any settlement or compromise, with respect to any pending or threatened
action or claim in respect of which the Indemnitee would be entitled to indemnification or contribution hereunder (whether or not
the Indemnitee is an actual party to such action or claim), which (i) does not include as a term thereof the unconditional release
of the Indemnitee from all liability in respect of such action or claim or (ii) includes an admission of fault, culpability or
a failure to act by or on behalf of the Indemnitee.

 

8.4           Contribution.
If the indemnification provided for in this Article VIII is unavailable or insufficient to hold harmless an Indemnitee
in respect of any Losses, then each indemnifying party shall, in lieu of indemnifying such Indemnitee, contribute to the amount
paid or payable by such Indemnitee as a result of such Losses in such proportion as appropriate to reflect the relative fault of
the indemnifying party, on the one hand, and the Indemnitee, on the other hand, which relative fault shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state
a material fact relates to information supplied by such Indemnitee or indemnifying party, and

 

    	 	24	 

     

    

 

such parties’ relative intent, knowledge, access to information
and opportunity to correct or mitigate the damage in respect of or prevent the untrue statement or omission giving rise to such
indemnification obligation; provided, however, that a Holder’s aggregate liability under this Section 8.4
shall be limited to an amount equal to the net proceeds (after deducting the underwriter’s discount but before deducting
expenses) received by such Holder from the sale of such Holder’s Registrable Securities pursuant to such registration. The
parties hereto agree that it would not be just and equitable if contributions pursuant to this Section 8.4 were determined
solely by pro rata allocation or by any other method of allocation which did not take account of the equitable considerations referred
to above. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

 

8.5           Indemnification
Payments; Other Remedies; Primacy of Indemnification.

 

(a)           Periodic
payments of amounts required to be paid pursuant to this Article VIII shall be made during the course of the investigation
or defense, as and when reasonably itemized bills therefor are delivered to the indemnifying party in respect of any particular
Loss as incurred.

 

(b)           The
remedies provided in this Article VIII are not exclusive and shall not limit any rights or remedies that may otherwise
be available to an Indemnitee at law or in equity.

 

(c)           Primacy
of Indemnification. Lionsgate hereby acknowledges that certain of the Indemnified Persons have certain rights to indemnification,
advancement of expenses and/or insurance provided by AT&T and/or certain of its Affiliates (collectively, the “Indemnitors”).
Lionsgate hereby agrees that (i) it is the indemnitor of first resort (i.e., its obligations to the Indemnified Persons are primary
and any obligation of the Indemnitors to advance expenses or to provide indemnification for the same Losses incurred by any of
the Indemnified Persons are secondary to any such obligation of Lionsgate), (ii) that it shall be liable for the full amount of
all Losses to the extent legally permitted and as required by the terms of this Agreement and the articles and other organizational
documents of Lionsgate (or any other agreement between Lionsgate and the relevant Indemnified Person), without regard to any rights
any Indemnified Person may have against the Indemnitors, and (iii) it irrevocably waives, relinquishes and releases the Indemnitors
from any and all claims (x) against the Indemnitors for contribution, indemnification, subrogation or any other recovery of any
kind in respect thereof and (y) that any Indemnified Person must seek indemnification from any Indemnitor before Lionsgate must
perform its indemnification obligations under this Agreement. No advancement or payment by the Indemnitors on behalf of any Indemnified
Person with respect to any claim for which such Indemnified Person has sought indemnification from Lionsgate hereunder shall affect
the foregoing. The Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment
to all of the rights of recovery which any Indemnified Person would have had against Lionsgate if the Indemnitors had not advanced
or paid any amount to or on behalf of such Indemnified Person. Lionsgate and the Indemnified Persons agree that the Indemnitors
are express third party beneficiaries of this Article VIII.

 

    	 	25	 

     

    

 

ARTICLE IX

 

REGISTRATION EXPENSES

 

In connection with any offerings pursuant to a Registration
Statement hereunder, Lionsgate shall pay (i) all registration and filing fees, (ii) all fees and expenses of compliance with state
securities or “blue sky” laws (including reasonable fees and disbursements of counsel in connection with “blue
sky” laws qualifications of the Registrable Securities), (iii) printing and duplicating expenses, (iv) internal expenses
of Lionsgate (including all salaries and expenses of its officers and employees performing legal or accounting duties), (v) fees
and disbursements of counsel for Lionsgate and fees and expenses of independent certified public accountants retained by Lionsgate
(including the expenses of any comfort letters or costs associated with the delivery by independent certified public accountants
of a comfort letter or comfort letters or with any required special audits), (vi) the reasonable fees and expenses of any special
experts retained by Lionsgate, (vii) fees and expenses in connection with any review of underwriting arrangements by FINRA, (viii)
reasonable fees and expenses of not more than one counsel for the Participating Holders (as a group), (ix) fees and expenses in
connection with listing, if applicable, the Registrable Securities on a securities exchange, and (x) all duplicating, distribution
and delivery expenses. In connection any offerings pursuant to a Registration Statement, each Participating Holder shall pay (a)
any underwriting fees, discounts or commissions attributable to the sale of Registrable Securities by such Participating Holder
in connection with an Underwritten Offering; (b) any out-of-pocket expenses of such Participating Holder including any fees and
expenses of brokers or counsel to such Participating Holder (other than as set forth in clause (viii) of the immediately preceding
sentence); and (c) any applicable transfer taxes.

 

ARTICLE X

 

RULE 144

 

With a view to making available to the Holders the benefits
of Rule 144 and any other similar rule or regulation of the Commission that may at any time permit a Holder to sell Registrable
Securities of Lionsgate to the public without registration or pursuant to a registration on Form S-3, Lionsgate covenants
that, from and after the time that and for so long as it is subject to Section 13 or 15(d) of the Exchange Act thereafter,
it shall use its reasonable efforts to file in a timely manner all reports required to be filed by it under the Exchange Act, and
that it shall comply with the requirements of Rule 144(c), as such Rule may be amended from time to time (or any similar rule or
regulation hereafter adopted by the Commission), regarding the availability of current public information to the extent required
to enable any Holder to sell Registrable Securities without registration under the Securities Act pursuant to the resale provisions
of Rule 144 (or any similar rule or regulation). Upon the request of any Holder, Lionsgate shall promptly deliver to such Holder
a written statement as to whether it has complied with such requirements and, upon such Holder’s compliance with the applicable
provisions of Rule 144 and its delivery of such documents and certificates as Lionsgate’s transfer agent may reasonably request
in connection therewith, shall take such reasonable action as may be required (including using its reasonable efforts to cause
legal counsel to issue an appropriate opinion) to cause its transfer agent to effectuate any transfer of Registrable Securities
properly requested by such Holder, in accordance with the terms and conditions of Rule 144.

 

    	 	26	 

     

    

 

ARTICLE XI

 

MISCELLANEOUS

 

11.1         Notice
Generally. Any notice, demand, request, consent, approval, declaration, delivery or other communication hereunder to be made
pursuant to the provisions of this Agreement shall be deemed sufficiently given or made if in writing and signed by the party making
the same, and either delivered in person with receipt acknowledged or sent by registered or certified mail, return receipt requested,
postage prepaid, or by telecopy and confirmed by telecopy answerback, addressed as follows:

 

if to any Holder or the AT&T Representative,
at:

 

AT&T Media Holdings, Inc.

2260 E. Imperial Highway

El Segundo, CA 90245

Attn: Dan York, Chief Content Officer

with a copy to:

 

AT&T Media Holdings, Inc.

2260 E. Imperial Highway

El Segundo, CA 90245

Attn: Jim Meza, General Counsel

 

and if to Lionsgate, at:

 

Lions Gate Entertainment Corp.

2700 Colorado Avenue, Suite 200

Santa Monica, California 90404

Attn: General Counsel

Telephone: (310) 255-3700

Facsimile: (310) 255-3870

 

with copies to:

 

Wachtell, Lipton, Rosen & Katz

51 W. 52nd Street

New York, NY 10019

Attn:    David E. Shapiro

             Gordon
S. Moodie

Telephone: (212) 403-1000

Facsimile: (212) 403-2000

 

or at such other address as may be substituted by notice given
as herein provided. The giving of any notice required hereunder may be waived in writing by the party entitled to receive such
notice. Every notice, demand, request, consent, approval, declaration, delivery or other

 

    	 	27	 

     

    

 

communication hereunder shall be deemed to have been duly given
or served and received on the date on which personally delivered, with receipt acknowledged, telecopied and confirmed by telecopy
answerback or three (3) Business Days after the same shall have been deposited in the United States mail (by registered or certified
mail, return receipt requested, postage prepaid), whichever is earlier. Each Holder as of the date hereof acknowledges and agrees
that, as of the date hereof, it holds the number of Registrable Securities set forth next to its name on Schedule I attached
hereto. Any member of the AT&T Group that desires to become an Additional Holder in accordance with the terms of this Agreement
shall provide written notice to Lionsgate setting forth its address and the number of Registrable Securities held by such Person
and agreeing to be bound by the terms hereof, and upon receipt of such notice Lionsgate shall amend Schedule I attached
hereto to reflect such Additional Holder, its address and the number of Registrable Securities held thereby without any further
action or consent required from the parties to this Agreement. From time to time and promptly following a written request by Lionsgate,
each such Holder and Additional Holder shall provide written notice to Lionsgate of any increase or decrease in the number of Registrable
Securities held by such Person, and upon receipt of any such notice, Lionsgate shall amend Schedule I attached hereto
to reflect such increase or decrease in the number of Registrable Securities held by such Person without any further action or
consent required from the parties to this Agreement; provided that if any such Holder or Additional Holder discloses such
increase or decrease in the number of Registrable Securities held by such person in any filing made pursuant to Section 13
or 16 of the Exchange Act, such Holder or Additional Holder, as the case may be, shall be deemed to have provided notice to Lionsgate
as provided in this sentence. Solely for purposes of this Agreement, in determining the number of Registrable Securities outstanding
at any time and the Holders thereof, Lionsgate shall be entitled to rely conclusively on Schedule I attached hereto
(as so amended in accordance with the terms of this Agreement to reflect all such written notices received by Lionsgate from time
to time).

 

11.2         Successors
and Assigns. This Agreement may not be assigned by any Holder other than to a Permitted Assignee (provided, however,
that such Permitted Assignee agrees in writing to be bound by the terms of this Agreement), whereupon such Permitted Assignee shall
be deemed to be a Holder for all purposes of this Agreement. Subject to the preceding sentence, this Agreement shall be binding
upon and inure to the benefit of the parties hereto and all successors to Lionsgate and the Holders.

 

11.3         Amendments;
Waivers. Subject to Section 11.4, (a) any provision of this Agreement affecting a party may be amended or modified only
by a written agreement signed by each such affected party and (b) no provision of this Agreement affecting a party may be waived
except pursuant to a writing signed by each such affected party.

 

11.4         AT&T
Representative. Lionsgate shall be entitled to rely upon the written communications of the AT&T Representative, acting
on behalf of any Holder, relating to matters addressed in this Agreement as communications of the Holders, including, without limitation,
elections by Holders to exercise registration rights and any amendments, waivers or consents made pursuant to this Agreement. Any
notice or communication delivered to the AT&T Representative shall be deemed to have been delivered to each Holder for all
purposes hereof. Each of the Holders shall use their reasonable efforts to conduct all written communications to Lionsgate pursuant
to this Agreement through the AT&T Representative.

 

    	 	28	 

     

    

 

11.5         Calculations
of Beneficial Ownership. All calculations of beneficial ownership for purposes of this Agreement shall be calculated in accordance
with Rule 13(d) of the Exchange Act, as amended from time to time.

 

11.6         No
Third Party Beneficiaries. This Agreement is not intended to and shall not confer any rights or remedies on any persons that
are not party hereto other than as expressly set forth in Section 8.5(c), Article VIII and 11.4.

 

11.7         Injunctive
Relief. It is hereby agreed and acknowledged that it will be impossible to measure in money the damages that would be suffered
if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an
aggrieved Person will be irreparably damaged and will not have an adequate remedy at law. Any such Person shall, therefore, be
entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including, without
limitation, specific performance, to enforce such obligations, and if any action should be brought in equity to enforce any of
the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law.

 

11.8         Termination
of Registration Rights; Survival. All rights granted to Holders under this Agreement shall terminate on the one year anniversary
of the date that the AT&T Group beneficially owns in the aggregate less than 60% of the Common Shares issued to the AT&T
Group pursuant to the Securities Issuance Agreement; provided, that in no event shall such termination occur prior to the
one year anniversary of the third Payment Date (as such term is defined in the Securities Issuance Agreement).

 

11.9         Non-Conflict.
The parties agree that this Agreement is not intended to be and is not inconsistent with the provisions of, and does not and will
not have the effect of denying or reducing the rights of any party to, the Investor Rights Agreement, the Mammoth Letter Agreement,
the Voting and Standstill Agreement or the Existing Registration Rights Agreements (including by reducing the number of securities
that the Existing Investors are otherwise entitled to include in a registration pursuant to the Existing Registration Rights Agreements)
and the parties agree that this Agreement shall be interpreted in all cases accordingly.

 

11.10       Attorney’s
Fees. In any action or proceeding brought to enforce any provision of this Agreement or where any provision hereof is validly
asserted as a defense, the successful party shall, to the extent permitted by applicable law, be entitled to recover reasonable
attorneys’ fees in addition to any other available remedy.

 

11.11       Severability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions
of this Agreement.

 

11.12       Headings.
The headings used in this Agreement are for the convenience of reference only and shall not, for any purpose, be deemed a part
of this Agreement.

 

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11.13       Governing
Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED EXCLUSIVELY BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. Each party to this Agreement hereby irrevocably agrees that any legal action or proceeding arising out of
or relating to this Agreement or any agreements or transactions contemplated hereby may be brought in the courts of the State of
New York or of the United States of America for the Southern District of New York and hereby expressly submits to the personal
jurisdiction and venue of such courts for the purposes thereof and expressly waives any claim of improper venue and any claim that
such courts are an inconvenient forum. Each party hereby irrevocably consents to the service of process of any of the aforementioned
courts in any such suit, action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid,
to the address set forth in Section 11.1 hereof, such service to become effective ten (10) days after such mailing.

 

11.14       Counterparts
and Facsimile Execution. This Agreement may be executed in any number of counterparts and each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. This
Agreement may be executed by facsimile signatures.

 

11.15       Entire
Agreement. This Agreement (i) embodies the entire agreement and understanding between Lionsgate and the Holders in respect
of the subject matter contained herein and (ii) supersedes all prior agreements and understandings between the parties with respect
to the subject matter of this Agreement.

 

11.16       Further
Assurances. Each of the parties hereto shall execute such documents and perform such further acts as may be reasonably required
or desirable to carry out or to perform the provisions of this Agreement.

 

[Remainder of page intentionally left blank.]

 

    	 	30	 

     

    

  

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

 

	 	Lions Gate Entertainment Corp.
	 	 	 
	 	By: 	 /s/ Wayne Levin
	 	Name:	 Wayne Levin
	 	Title:	 General Counsel and Chief Strategic Officer
	 	 	 
	 	AT&T Media Holdings, Inc.
	 	 	 
	 	By:	 /s/ Daniel J. Fete
	 	Name:	 Daniel J. Fete
	 	Title:	 SVP - Corporate Development

  

Signature Page to Registration Rights Agreement

 

    	 	 	 

     

    

 

EXHIBIT
A

 

PLAN
OF DISTRIBUTION

 

The selling securityholders, or their pledgees, donees, transferees,
or any of their successors in interest selling shares received from a named selling securityholder as a gift, partnership distribution
or other non-sale-related transfer after the date of this prospectus (all of whom may be selling securityholders), may sell the
securities from time to time on any stock exchange or automated interdealer quotation system on which the securities are listed,
in the over-the-counter market, in privately negotiated transactions or otherwise, at fixed prices that may be changed, at market
prices prevailing at the time of sale, at prices related to prevailing market prices or at prices otherwise negotiated. The selling
securityholders may sell the securities by one or more of the following methods, without limitation:

 

		(a)	block trades in which the broker or dealer so engaged
shall attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the
transaction;

 

		(b)	purchases by a broker or dealer as principal and resale
by the broker or dealer for its own account pursuant to this prospectus;

 

		(c)	an exchange distribution in accordance with the rules of
any stock exchange on which the securities are listed;

 

		(d)	ordinary brokerage transactions and transactions in which
the broker solicits purchases;

 

		(e)	privately negotiated transactions;

 

		(f)	short sales;

 

		(g)	through the writing of options on the securities, whether
or not the options are listed on an options exchange;

 

		(h)	through the distribution of the securities by any selling
securityholder to its partners, members or stockholders;

 

		(i)	one or more underwritten offerings on a firm commitment
or best efforts basis; and

 

		(j)	any combination of any of these methods of sale.

 

The selling securityholders may also transfer the securities
by gift. The issuer does not know of any arrangements by the selling securityholders for the sale of any of the securities.

 

The selling securityholders may engage brokers and dealers,
and any brokers or dealers may arrange for other brokers or dealers to participate in effecting sales of the securities. These
brokers, dealers or underwriters may act as principals, or as an agent of a selling securityholder.

 

    	 	 	 

     

    

 

Broker-dealers may agree with a selling securityholder to sell
a specified number of the securities at a stipulated price per security. If the broker-dealer is unable to sell securities acting
as agent for a selling securityholder, it may purchase as principal any unsold securities at the stipulated price. Broker-dealers
who acquire securities as principals may thereafter resell the securities from time to time in transactions on any stock exchange
or automated interdealer quotation system on which the securities are then listed, at prices and on terms then prevailing at the
time of sale, at prices related to the then-current market price or in negotiated transactions. Broker-dealers may use block transactions
and sales to and through broker-dealers, including transactions of the nature described above. The selling securityholders may
also sell the securities in accordance with Rule 144 under the Securities Act of 1933, as amended, rather than pursuant to this
prospectus, regardless of whether the securities are covered by this prospectus.

 

From time to time, one or more of the selling securityholders
may pledge, hypothecate or grant a security interest in some or all of the securities owned by them. The pledgees, secured parties
or persons to whom the securities have been hypothecated shall, upon foreclosure in the event of default, be deemed to be selling
securityholders. As and when a selling securityholder takes such actions, the number of securities offered under this prospectus
on behalf of such selling securityholder shall decrease. The plan of distribution for that selling securityholder’s securities
shall otherwise remain unchanged. In addition, a selling securityholder may, from time to time, sell the securities short, and,
in those instances, this prospectus may be delivered in connection with the short sales and the securities offered under this prospectus
may be used to cover short sales.

 

To the extent required under the Securities Act of 1933, as
amended, the aggregate amount of selling securityholders’ securities being offered and the terms of the offering, the names
of any agents, brokers, dealers or underwriters and any applicable commission with respect to a particular offer shall be set forth
in an accompanying prospectus supplement. Any underwriters, dealers, brokers or agents participating in the distribution of the
securities may receive compensation in the form of underwriting discounts, concessions, commissions or fees from a selling securityholder
and/or purchasers of selling securityholders’ securities for whom they may act (which compensation as to a particular broker-dealer
might be in excess of customary commissions).

 

The selling securityholders and any underwriters, brokers, dealers
or agents that participate in the distribution of the securities may be deemed to be “underwriters” within the meaning
of the Securities Act of 1933, as amended, and any discounts, concessions, commissions or fees received by them and any profit
on the resale of the securities sold by them may be deemed to be underwriting discounts and commissions.

 

A selling securityholder may enter into hedging transactions
with broker-dealers and the broker-dealers may engage in short sales of the securities in the course of hedging the positions they
assume with that selling securityholder, including, without limitation, in connection with distributions of the securities by those
broker-dealers. A selling securityholder may enter into option or other transactions with broker-dealers that involve the delivery
of the securities offered hereby to the broker-dealers, who may then resell or otherwise transfer those securities. A selling securityholder
may also loan or pledge the securities offered hereby to a broker-dealer

 

    	 	2	 

     

    

 

and the broker-dealer may sell the securities offered hereby
so loaned or upon a default may sell or otherwise transfer the pledged securities offered hereby.

 

A selling securityholder may enter into derivative transactions
with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If
the applicable prospectus supplement indicates, in connection with those derivatives, the third parties may sell securities covered
by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use
securities pledged by the selling securityholder or borrowed from the selling securityholder or others to settle those sales or
to close out any related open borrowings of stock, and may use securities received from the selling securityholder in settlement
of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions shall be an underwriter
and, if not identified in this prospectus, shall be identified in the applicable prospectus supplement (or a post-effective amendment).

 

The selling securityholders and other persons participating
in the sale or distribution of the securities shall be subject to applicable provisions of the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder, including Regulation M. This regulation may limit the timing of purchases
and sales of any of the securities by the selling securityholders and any other person. The anti-manipulation rules under the Securities
Exchange Act of 1934 may apply to sales of securities in the market and to the activities of the selling securityholders and their
affiliates. Furthermore, Regulation M may restrict the ability of any person engaged in the distribution of the securities to engage
in market-making activities with respect to the particular securities being distributed for a period of up to five business days
before the distribution. These restrictions may affect the marketability of the securities and the ability of any person or entity
to engage in market-making activities with respect to the securities.

 

The issuer has agreed to indemnify in certain circumstances
the selling securityholders and any brokers, dealers and agents (who may be deemed to be underwriters), if any, of the securities
covered by the registration statement, against certain liabilities, including liabilities under the Securities Act of 1933, as
amended. The selling securityholders have agreed to indemnify the issuer in certain circumstances against certain liabilities,
including liabilities under the Securities Act of 1933, as amended.

 

The issuer agreed to register the securities under the Securities
Act of 1933, as amended, and to keep the registration statement of which this prospectus is a part effective for a specified period
of time. The issuer has generally agreed to pay all expenses in connection with this offering, including the fees and expenses
of counsel of the selling securityholders, but not including any underwriting discounts, concessions, commissions or fees of the
selling securityholders or any applicable transfer taxes.

 

The issuer shall not receive any proceeds from sales of any
securities by the selling securityholders.

 

The issuer cannot assure you that the selling securityholders
shall sell all or any portion of the securities offered hereby.

 

    	 	3	 

     

    

 

SCHEDULE I

 

	Name of Holder/Additional

    Holder	 	Address of Holder/Additional

    Holder	 	Number of Registrable

    Securities Held
	AT&T Media Holdings, Inc.	 	
        2260 E. Imperial Highway

        El Segundo, CA 90245
	 	0Exhibit

1

EXHIBIT 10.1

	
							
	CONTRATO DE APERTURA DE CREDITO EN CUENTA CORRIENTE QUE CELEBRAN:
	 
	CHECKING ACCOUNT LOAN OPENING 
CONTRACT ENTERED INTO BY:

	 
	 
	 
	 
	 
	 
	 

	I.
	BBVA BANCOMER, SOCIEDAD ANONIMA, INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BBVA BANCOMER, COMO ACREDITANTE, A QUIEN EN LO SUCESIVO SE DESIGNARA COMO "BANCOMER", REPRESENTADA EN ESTE ACTO POR JOSÉ FRANCISCO ZUÑIGA CHAVEZ Y HÚGO ALEJANDRO GUTIÉRREZ MARTÍNEZ;
	 
	I.
	BBVA BANCOMER, SOCIEDAD ANONIMA, INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BBVA BANCOMER, AS THE LENDER, HEREINAFTER DESIGNATED AS "BANCOMER", REPRESENTED HEREIN BY JOSÉ FRANCISCO ZUÑIGA CHAVEZ AND HÚGO ALEJANDRO GUTIÉRREZ MARTÍNEZ;

	 
	 
	 
	 
	 
	 
	 

	II.
	"AVICOLA PILGRIM'S PRIDE DE MEXICO", SOCIEDAD ANONIMA DE CAPITAL VARIABLE, COMO ACREDITADA, A QUIEN SE DESIGNARA COMO "EL CLIENTE", REPRESENTADA EN ESTE ACTO POR HÉCTOR RENÉ DURÁN MANTILLA, Y CONJUNTAMENTE CON "BANCOMER" SE LES DENOMINARA COMO "LAS PARTES";
	 
	II.
	"AVICOLA PILGRIM'S PRIDE DE MEXICO", SOCIEDAD ANONIMA DE CAPITAL VARIABLE, AS THE BORROWER, HEREINAFTER DESIGNATED AS THE "CUSTOMER," REPRESENTED HEREIN BY HÉCTOR RENÉ DURÁN MANTILLA, AND JOINTLY WITH "BANCOMER" TO BE CALLED THE "PARTIES";

	 
	 
	 
	 
	 
	 
	 

	III.
	CON LA COMPARECENCIA DE "PILGRIM'S PRIDE", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, Y "COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, AMBAS REPRESENTADAS EN ESTE ACTO POR HÉCTOR RENÉ DURÁN MANTILLA, A QUIENES EN LO SUCESIVO SE LES DENOMINARA COMO "LOS FIADORES" Y CONJUNTAMENTE CON "BANCOMER" Y "EL CLIENTE" COMO "LAS PARTES".
	 
	III.
	WITH THE APPEARANCE OF "PILGRIM'S PRIDE", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, AND "COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, BOTH REPRESENTED HEREIN BY HÉCTOR RENÉ DURÁN MANTILLA, WHO WILL HEREINAFTER BE CALLED THE "GUARANTORS," AND JOINTLY WITH "BANCOMER" AND THE "CUSTOMER," THE "PARTIES."

	 
	 
	 
	 
	 
	 
	 

	"LAS PARTES" SE SUJETAN AL TENOR DE LAS SIGUIENTES DECLARACIONES Y CLAUSULAS.
	 
	THE PARTIES HEREBY SUBMIT THEMSELVES TO THE FOLLOWING RECITALS AND CLAUSES.

	 
	 
	 
	 
	 
	 
	 

	DECLARACIONES
	 
	RECITALS

	 
	 
	 
	 
	 
	 
	 

	I.
	Declara "EL CLIENTE" a través de su representante, en su case, bajo protesta de decir verdad y bien entendido de lo dispuesto por el articulo 112 (CIENTO DOCE) de Ia Ley de lnstítuciones de Crédito que:
	 
	I.
	The CUSTOMER, through its representative, as the case may be, hereby swears to tell the truth and that it understands the contents of Article 112 of the Law on Credit Institutions as follows:

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Su representante cuenta con las  facultades suficientes y necesarias para acudir en su nombre y representación a Ia celebración y ejecución del presente contrato, mismas que no les han sido revocadas ni en forma alguna modificadas.
	 
	 
	1.
	Its representative has sufficient powers as necessary to enter into this contract in its name and to represent it, which have not been revoked or modified in any way.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	Es una sociedad debidamente constituida de acuerdo con las leyes del país, que conforme a su objeto social esta contemplada Ia posibilidad de celebrar el tipo de operación que se consigna en este contrato, según lo acredita con sus estatutos sociales vigentes, par Ia que el presente contrato no viola ninguna de sus disposiciones estatutarias.
	 
	 
	2.
	It is a company that has been properly created based on the country's laws and that, based on the company's purpose, it has the power to enter into the type of operation set forth in this contract, as substantiated by its current articles of incorporation such that this contract does not violate any of said articles of incorporation.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

2

	
							
	 
	3.
	La empresa y los bienes que Ia forman se encuentran al corriente en el page de todos los adeudos. obligaciones, impuestos y derechos a su cargo.
	 
	 
	3.
	The company and the company's assets are current with paying any of the debts, obligations, taxes, and fees for which it is responsible.

	 
	 
	 
	 
	 
	 
	 

	 
	4.
	No se encuentra pendiente, ni se amenaza presentar en su contra, alguna acción o procedimiento que pueda afectar Ia legalidad del presente contrato.
	 
	 
	4.
	There is no action or proceeding outstanding, nor is there any threat of an action or proceeding being filed, that may affect the legality of this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	5.
	Los estados financieros que ha entregado a "BANCOMER", presentan adecuadamente Ia situación financiera a Ia fecha, así como los resultados de sus operaciones por el periodo determinado en los mismos, de conformidad con las normas de información financiera generalmente aceptadas y aplicadas consistentemente, y que no ha habido cambia de importancia en su condición financiera.
	 
	 
	5.
	The financial statements that it has provided to BANCOMER properly demonstrate the financial situation to date, as well as the results of its operations for the period of time determined therein in conformity with the generally accepted financial reporting regulations as applied consistently and there has been no important change in its financial status.

	 
	 
	 
	 
	 
	 
	 

	 
	6.
	Tiene celebrado con "BANCOMER" un contrato de depósito bancario de dinero a Ia vista, en pesos, moneda nacional, en virtud del cual es titular de Ia Cuenta de Cheques (en adelante Ia "CUENTA DE CHEQUES"), identificada con el número [información confidencial retenido]. 
	 
	 
	6.
	It has entered into an on-demand money deposit banking contract with BANCOMER in pesos, the national currency, by virtue of which it is the owner of the Checking Account (hereinafter the "CHECKING ACCOUNT") identified as number [confidential information withheld].

	 
	 
	 
	 
	 
	 
	 

	 
	7.
	Su domicilio social se ubica en Querétaro, Querétaro, con oficinas en Privada de los Industriales número 115, Jurica, Código Postal 76100, y con Registro Federal de Contribuyentes No. [información confidencial retenida].
	 
	 
	7.
	The company domicile is located in Querétaro, Querétaro, and it has offices at Privada de los Industriales número 115, Jurica, Zip Code 76100; its Federal Taxpayer Number is [confidential information withheld].

	 
	 
	 
	 
	 
	 
	 

	 
	8.
	Conoce el sistema (según se define más adelante) que "BANCOMER" tiene en función y que opera mediante medios electrónicos, y que conoce y acepta que a través de él, "EL CLIENTE" expresará su consentimiento respecto de las disposiciones que realice al amparo del presente contrato, mediante el empleo de claves y contraseñas (según dichos términos se definen más adelante) previamente convenidas, mismas que Ia identifican y vinculan, e intercambiará instrucciones, archivos y mensajes de datos (según se define más adelante) con "BANCOMER".
	 
	 
	8.
	It understands the system (as defined hereafter) that BANCOMER has in operation using electronic media and it understands and accepts that, via said system, the CUSTOMER will express its consent in relation to the instructions to be carried out under the auspices of this contract by using user names and passwords (as those terms are defined hereafter) as stipulated previously, which will be used to identify and bind the CUSTOMER and it will exchange instructions, files, and data messages (as defined hereafter) with BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	9.
	Tiene celebrado con "BANCOMER" un contrato de servicio de banca electrónica (Banca en línea), por el que a través de claves y contraseñas previamente convenidas, que Ia identifican y vinculan, tiene acceso a los sistemas de cómputo de "BANCOMER" para realizar diversas operaciones, entre las cuales puede realizar consultas de su línea de Crédito y disposiciones.
	 
	 
	9.
	It has entered into an electronic banking (on­line banking) service contract with BANCOMER that uses previously stipulated user names and passwords to identify and bind the CUSTOMER. The CUSTOMER has access to the BANCOMER computer system to carry out diverse operations, including making queries into its line of credit and the provisions related thereto.

	 
	 
	 
	 
	 
	 
	 

	 
	10.
	Los recursos que utilizará para pagar el presenta "CREDITO" no son ni serán de procedencia ilícita.
	 
	 
	10.
	The resources that the CUSTOMER will use to pay this "LOAN" have not been, nor will they be, gained illicitly.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

3

	
							
	 
	11.
	Que cumple con el ordenamiento ecológico, Ia preservación, restauración y mejoramiento del ambiente, así como Ia protección de las áreas naturales, Ia flora y fauna silvestre y acuáticas, el aprovechamiento racional de los elementos naturales, Ia previsión y el control de Ia contaminación del aire, agua y suelo y en general todas y cada una de las disposiciones previstas en Ia Ley General de Equilibrio Ecológico y Protección del Ambiente.
	 
	 
	11.
	Compliant with any laws related to the ecology and to the preservation, restoration and improvement of the environment as well as any laws related to protecting natural areas, flora and fauna in the wild and water resources, the rational use of natural elements, preventing and controlling air, water, and soil pollution and in general any and all of the provisions found in the General Law on Protecting the Environment and Ecological Balance.

	 
	 
	 
	 
	 
	 
	 

	II.
	Declaran "LOS FIADORES", a través de su representante:
	 
	II.
	The GUARANTORS state the following through their representative:

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Conforme a su objeto social esta contemplada Ia posibilidad de celebrar el tipo de operación que se consigna en este contrato, según lo acredita con sus estatutos sociales vigentes, por lo que el presente contrato no viola ninguna de sus disposiciones estatutarias. Que su(s) representante(s) cuenta(n) con las facultades suficientes y necesarias para acudir en su nombre y representación a Ia celebración y ejecución del presente contrato, mismas que no les han sido revocadas ni en forma alguna modificadas.
	 
	 
	1.
	Based on their companies' purposes, they have the power to enter into the type of operation set forth in this contract, as substantiated by their current articles of incorporation such that this contract does not violate any of said articles of incorporation. Its representative(s) has (have) sufficient powers as necessary to enter into this contract in their name and to represent them, which have not been revoked or modified in any way.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	En virtud de las relaciones corporativas, financieras, administrativas y jurídicas que tienen con "EL CLIENTE", es de su interés comparecer en el presente contrato con el objeto de obligarse conjunta y  solidariamente con ésta última frente a "BANCOMER", en el cumplimiento de todas las obligaciones que se desprenden a su cargo del presente contrato y, por tanto, es su intención constituirse en FIADORES.
	 
	 
	2.
	By virtue of the corporate, financial, administrative, and legal relations that they have with the CUSTOMER, they are interested in becoming a party to this contract to be jointly and severally bound to the CUSTOMER in relation to BANCOMER to comply with all the obligations that are derived from their position in this contract and, therefore, it is their intention to become GUARANTORS.

	 
	 
	 
	 
	 
	 
	 

	III.
	Declara "BANCOMER" a través de sus representantes:
	 
	III.
	The GUARANTORS state the following through their representative:

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Es una sociedad anónima debidamente constituida conforme a las leyes mexicanas y autorizada para operar como institución de banca múltiple, por lo que cuenta con las facultades necesarias para. Ia celebración y cumplimiento de este contrato.
	 
	 
	1.
	It is a company that has been properly created in conformity with Mexican law and it is authorized to operate as a multiple banking institution so it has the powers needed to enter into and perform this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	Sus representantes cuentan con las facultades suficientes para acudir en su nombre y representación a Ia celebración y ejecución del presente contrato, mismas que no les han sido revocadas ni en forma alguna modificadas.
	 
	 
	2.
	Its representatives have sufficient powers as necessary to enter into this contract in its name and to represent it, which have not been revoked or modified in any way.

	 
	 
	 
	 
	 
	 
	 

	 
	3.
	Tiene contemplada Ia utilización de equipos y sistemas automatizados de cómputo para Ia atención y control electrónico de alguna de las operaciones y servicios a que se refiere el presente contrato (en adelante el "SISTEMA"), que le permite intercambiar instrucciones, archivos y mensajes de datos.
	 
	 
	3.
	It has considered using automated computer equipment and systems to carry out and track some of its operations and services electronically as referenced in this contract (hereinafter the "SYSTEM"), that make it possible to exchange instructions, files and data messages.

	 
	 
	 
	 
	 
	 
	 

	 
	4.
	Considerando las declaraciones de "EL CUENTE", está dispuesto a abrirle un "CREDITO".
	 
	 
	4.
	Considering the statements made by the CUSTOMER, it is willing to provide the CUSTOMER with a "LOAN."

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

4

	
							
	 
	Por lo anterior, "LAS PARTES" se sujetan a Ia que estipulan las siguientes:
	 
	 
	Therefore, the PARTIES hereby subject themselves to the following stipulations:

	 
	 
	 
	 
	 
	 
	 

	 
	CAPITULO PRIMERO CREDITO EN 
CUENTA CORRIENTE
	 
	 
	CHAPTER ONE CHECKING 
ACCOUNT LOAN

	 
	 
	 
	 
	 
	 
	 

	 
	CLAUSULAS
	 
	 
	CLAUSES

	 
	PRIMERA.- IMPORTE. Por virtud del presente contrato "BANCOMER" abre a "EL CLIENTE" un "CREDITO" en cuenta corriente, hasta por Ia cantidad de $1’500ʼ000,000.00 (MIL QUINIENTOS MILLONES DE PESOS 00/100 MONEDA   NACIONAL), en Io sucesivo el "CREDITO".
	 
	 
	1.  AMOUNT. By virtue of this contract, BANCOMER is hereby granting a LOAN to the CUSTOMER, to be deposited into the CUSTOMER's checking account, in the amount of $1,500,000,000.00 (THOUSAND FIVE HUNDRED MILLION AND N0/100  MEXICAN PESOS), hereinafter referred to as the "LOAN."

	 
	 
	 
	 
	 
	 
	 

	 
	Dentro del límite del "CREDITO" no quedan comprendidos los intereses, intereses moratorios, comisiones, accesorios y demás gastos que deba cubrir "EL CLIENTE" en favor de "BANCOMER" conforme al presente contrato.
	 
	 
	The LOAN amount does not include any interest, late fees, commissions, accessory amounts and other expenses that the CUSTOMER must pay BANCOMER in conformity with this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" hará usa del "CREDITO" en Ia forma, términos y bajo las condiciones convenidas en este contrato.
	 
	 
	The CUSTOMER will use the LOAN in the fashion and based on the terms and conditions stipulated in this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	El "CREDITO" se otorga de conformidad a Io dispuesto en Ia Ley General de Títulos y Operaciones de Crédito, en forma de apertura de Crédito en Cuenta Corriente.
	 
	 
	The LOAN is granted in conformity with the provisions in the General Credit Operations and Securities Law by depositing the LOAN into the CUSTOMER's CHECKING ACCOUNT.

	 
	 
	 
	 
	 
	 
	 

	 
	SEGUNDA.- DESTINO. "EL CLIENTE" se obliga a destinar el importe del "CREDITO" precisamente para capital de trabajo.
	 
	 
	2. USE. The CUSTOMER must use the LOAN precisely for working capital.

	 
	 
	 
	 
	 
	 
	 

	 
	TERCERA.- VIGENCIA. La vigencia de este contrato es de 3 (tres) años contados a partir de Ia fecha de firma del presente contrato, esto es, terminará precisamente el día 27 (veintisiete) de septiembre del año 2019 (dos mil diecinueve), en Ia sucesivo "FECHA DE PAGO FINAL".
	 
	 
	3. EFFECTIVE PERIOD. This contract will be effective for a period of three (3) years starting on the date that this contract is signed, i.e., it will end exactly on the 27 day of September 2019, hereinafter to be referred to as the "FINAL PAYMENT DATE."

	 
	 
	 
	 
	 
	 
	 

	 
	No obstante su terminación, este contrato producirá todos sus efectos legales hasta que "EL CLIENTE" haya liquidado en su totalidad todas las cantidades a su cargo bajo el presente contrato.
	 
	 
	Despite the fact that the contract will end, it will remain in full force and effect for legal purposes until the CUSTOMER has paid off all of the amounts for which the CUSTOMER is under this Agreement liable.

	 
	 
	 
	 
	 
	 
	 

	 
	CUARTA.- DISPOSICIONES DEL "CREDITO". Durante Ia vigencia del presente contrato "EL CLIENTE" podrá disponer, total o parcialmente del "CREDITO", a través del "SISTEMA" y sujeto a Io siguiente:
	 
	 
	4. LOAN PROVISIONS. During the effective period of this contract, the CUSTOMER may access the LOAN in full or in part through the SYSTEM and subject to the following:

	 
	 
	 
	 
	 
	 
	 

	 
	Que no exista por parte de "EL CLIENTE" ningún hecho o motive que sea considerado como un incumplimiento a sus obligaciones establecidas en el presente instrumento, o con cualquier otro que tenga con "BANCOMER".
	 
	 
	The CUSTOMER in no way is in breach of the CUSTOMER's obligations set forth in this instrument or of any other obligation that the CUSTOMER may have with BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	Las disposiciones del "CREDITO" que "EL CLIENTE" efectúe al amparo del presente contrato serán abonadas a Ia "CUENTA DE CHEQUES" que "BANCOMER" le tiene establecida.
	 
	 
	The amounts related to the LOAN that the CUSTOMER receives under the auspices of this contract will be paid into the CHECKING ACCOUNT that BANCOMER has established.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

5

	
							
	 
	En cada ocasión en que "EL CLIENTE" pretenda disponer parte o Ia totalidad del "CREDITO", éste último deberá convenir con "BANCOMER" las fechas de pagos parciales de capital, en lo sucesivo "FECHA DE PAGO PARCIAL", que no podrán ser superiores hasta 180 (ciento ochenta) días, ni en su caso, superiores a Ia "FECHA DE PAGO FINAL". Las "FECHAS DE PAGOS PARCIALES" así convenidas se harán constar en el "SISTEMA" y en  su caso, en los avisos disposición, en adelanta  "AVISOS DE DISPOSICION", que por cada disposición realice "EL CLIENTE".
	 
	 
	Every time that the CUSTOMER would like to take out all or part of the LOAN, the CUSTOMER must reach an agreement with BANCOMER about the partial principal payment dates, hereinafter the "PARTIAL PAYMENT DATE," which may not be more than up to one hundred eighty (180) days or after the FINAL PAYMENT DATE. The PARTIAL PAYMENT DATE thus stipulated will be recorded in the SYSTEM and, as the case may be, in the application notices, hereinafter the "APPLICATION NOTICES," that the CUSTOMER must produce for each payment.

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" podrá hacer remesas, antes de Ia fecha fijada para su liquidación parcial o total de las disposiciones que hubiere hecho, quedando facultado, mientras el presente contrato no concluya, para disponer en Ia forma pactada del saldo que resulte a su favor.
	 
	 
	The CUSTOMER may make remittances prior to the date set for full or partial payments and is authorized, until this contract ends, to access the balance that is left available to the CUSTOMER as stipulated.

	 
	 
	 
	 
	 
	 
	 

	 
	QUINTA.- PAGO DEL PRINCIPAL. Durante Ia vigencia del presente contrato, "EL CLIENTE" se obliga a pagar en favor de "BANCOMER", las cantidades de que haya dispuesto, efectuando pagos a "BANCOMER" por concepto de Ia suerte principal,  precisamente en cada "FECHA DE PAGO PARCIAL".
	 
	 
	5. PRINCIPAL PAYMENT. During the period that this contract is in effect, the CUSTOMER must repay BANCOMER for the amounts that the CUSTOMER has taken out by making payments to the principal on each PARTIAL PAYMENT DATE.

	 
	 
	 
	 
	 
	 
	 

	 
	En caso de que cualquier "FECHA DE PAGO PARCIAL" fuese un día que no sea "DIA HABIL", el pago se realizara el "DIA HABIL" inmediato siguiente.
	 
	 
	If a PARTIAL PAYMENT DATE is not a BUSINESS DAY, the payment will be made on the immediately following BUSINESS DAY.

	 
	 
	 
	 
	 
	 
	 

	 
	No obstante lo señalado con anterioridad, "LAS PARTES" convienen que "EL  CLIENTE" podrá optar  durante Ia vigencia del presente contrato, por  diferir cualquier pago de principal, para lo cual, a través del "SISTEMA", podrá previo a cada "FECHA DE PAGO PARCIAL" o precisamente en Ia "FECHA DE PAGO PARCIAL" y respecto de alguna disposición del "CREDITO", recalendarizar su pago correspondiente en el nuevo plaza que elija, siempre y cuando:
	 
	 
	Notwithstanding the foregoing, the PARTIES agree that the CUSTOMER may, during the period that this contract is in effect, defer the principal payment amount such that the CUSTOMER may use the SYSTEM to reschedule the payment based on the new repayment period that the CUSTOMER chooses. Any such deferment must be made prior to each PARTIAL PAYMENT DATE or  on the PARTIAL PAYMENT DATE itself, and will be subject to the following provisions:

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" liquide los intereses ordinarios devengados a esa fecha, Ia recalendarización no se  haga sobre una disposición vencida, y no tenga sobregiros, retenciones o bloqueos en Ia "CUENTA DE CHEQUES".
	 
	 
	The CUSTOMER must pay the regular interest earned on that date; the rescheduling may not be effected for an overdue payment; and there may not be any overdrafts, withholdings or blocks on the CHECKING ACCOUNT.

	 
	 
	 
	 
	 
	 
	 

	 
	La recalendarización puede ser de Ia siguiente manera:
	 
	 
	The payment may be rescheduled as follows:

	 
	 
	 
	 
	 
	 
	 

	 
	Ÿ
	Por el mismo importe o por un importe menor al de Ia disposición por vencer.
	 
	 
	Ÿ
	For the same amount or for an amount that is lower than the payment that is coming due.

	 
	 
	 
	 
	 
	 
	 

	 
	Ÿ
	Al nuevo vencimiento le aplicará Ia tasa de interés conforme a Ia cláusula SEXTA, derivado de cada recalendarización.
	 
	 
	Ÿ
	When the next payment comes due, the interest rate per section 6 will be applied as derived from each rescheduling.

	 
	 
	 
	 
	 
	 
	 

	 
	Ÿ
	Ninguna recalendarización podrá exceder el plazo máximo de hasta 180 (ciento ochenta)  días.
	 
	 
	Ÿ
	No rescheduling may exceed the maximum period of time, which is one hundred eighty (180) days.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

6

	
							
	 
	Ÿ
	Ninguna recalendarización podrá exceder del vencimiento del contrato.
	 
	 
	Ÿ
	No payment may be rescheduled for after the contract expiration date.

	 
	 
	 
	 
	 
	 
	 

	 
	Ÿ
	Aplica únicamente para pago de principal y en "FECHAS DE PAGO PARCIAL", por lo que en Ia "FECHA DE PAGO PARCIAL" "EL CLIENTE" se obliga a mantener fondos suficientes en Ia "CUENTA DE CHEQUES" para pagar los intereses.
	 
	 
	Ÿ
	This is applicable only to the principal payment and the PARTIAL PAYMENT DATE such that, on the PARTIAL PAYMENT DATE, the CUSTOMER must have sufficient funds in the CHECKING ACCOUNT to pay the interest.

	 
	 
	 
	 
	 
	 
	 

	 
	La recalendarización de pagos no implica prórroga a Ia vigencia del contrato.
	 
	 
	Rescheduling a payment does not imply that the contract expiration date has been extended.

	 
	 
	 
	 
	 
	 
	 

	 
	SEXTA.-  INTERESES ORDINARIOS. "EL CLIENTE" se obliga a pagar a "BANCOMER", durante Ia  vigencia del presente contrato, intereses ordinarios sobre Ia suerte principal insoluta del "CREDITO", que se calcularan a una tasa anualizada que será el equivalente a Ia Tasa TIlE (según se define más  adelante) más 0.95 (cero punto noventa y cinco) puntos porcentuales.
	 
	 
	6. ORDINARY INTEREST. During the period that this contract is in effect, the CUSTOMER must pay BANCOMER ordinary interest on the outstanding principal for the LOAN. The interest will be calculated based on an annualized rate that is the equivalent of the TIlE Rate (as defined hereafter), plus 0.95 (zero point nine five) percentage points.

	 
	 
	 
	 
	 
	 
	 

	 
	Los intereses se devengarán a partir de Ia fecha de disposición parcial o total del "CREDITO" y deberán ser pagados a "BANCOMER" en cada "FECHA DE PAGO DE INTERESES" (según éste término se define más adelante).
	 
	 
	The interest will be earned as of the date that the LOAN is used partially or in full and must be paid to BANCOMER on each "INTEREST PAYMENT DATE" (as that term is defined hereafter).

	 
	 
	 
	 
	 
	 
	 

	 
	En el supuesto de que cualquier "FECHA DE PAGO DE INTERESES" fuese un día que no sea "DIA HABIL" (según dicho término se define a continuación), dicho pago se hará en el "DIA HABIL"  inmediato siguiente, con el correspondiente recalculo de intereses.
	 
	 
	Should any INTEREST PAYMENT DATE fall on a day that is not a BUSINESS DAY (as that term is defined hereafter), the payment will be made on the immediately following BUSINESS DAY, and the interest will be recalculated as pertinent.

	 
	 
	 
	 
	 
	 
	 

	 
	Para efectos del presente contrato:
	 
	 
	For the intents and purposes of this contract:

	 
	 
	 
	 
	 
	 
	 

	 
	"DIA HABIL" significa, excepto sábados, domingos o días festivos, cualquier día en el cual las oficinas principales de las lnstítuciones de Crédito del país en Ia Ciudad de México, Distrito Federal, estén abiertas al público para Ia realización de operaciones bancarias.
	 
	 
	"BUSINESS DAY" means any date when the main offices of credit institutions in Mexico City, the Federal District, are open to the public to engage in banking transactions except for Saturdays, Sundays, and holidays.

	 
	 
	 
	 
	 
	 
	 

	 
	"FECHA DE PAGO DE INTERESES" significa, el último día de cada Periodo de lntereses.
	 
	 
	"INTEREST PAYMENT DATE" means the last day of each Interest Period.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

7

	
							
	 
	"PERIODO DE INTERESES" significa, cada periodo de un mes calendario, al cual se pueden adicionar los días necesario para completar el periodo correspondiente, con base en el cual se calcularán los intereses que cause el saldo insoluto del "CREDITO" en Ia inteligencia de que (i) el primer "PERIODO DE INTERESES" comenzará en Ia fecha de Ia disposición parcial o total del "CREDITO" y terminará precisamente el último día del mismo mes en que se haga Ia disposición, en el caso de que este sea "DIA INHABIL", el periodo terminará el "DIA HABIL" inmediato siguiente, (ii) los "PERIODOS DE INTERESES" subsecuentes comenzarán el día siguiente al último día del "PERIODO DE INTERESES" inmediato anterior y terminará el último día del mismo mes, en el caso de que este sea "DIA INHABIL", el periodo terminará el "DIA HABIL" inmediato siguiente, y (iii) cualquier "PERIODO DE  INTERESES" que esté vigente en Ia "FECHA DE PAGO FINAL", terminará precisamente en dicha fecha.
	 
	 
	"INTEREST PERIOD" means each period in a calendar month to which the days needed to complete the pertinent period may be added to be used to calculate the interest on the outstanding LOAN balance. This concept is understood as follows: (i) the first INTEREST PERIOD will begin on the date when the LOAN is accessed in full or in part and will end exactly on the last day of the same month when the payment is made -- should that day be a NON-BUSINESS DAY, the period will end on the immediately following BUSINESS DAY, (ii) the subsequent INTEREST PERIODS will begin on the day following the last day in the immediately preceding INTEREST PERIOD and will end on the last day of that month--  should that day be a NON-BUSINESS DAY, the period will end on the immediately following BUSINESS DAY, and (iii) any INTEREST PERIOD that is in effect on the FINAL PAYMENT DATE will end exactly on that date.

	 
	 
	 
	 
	 
	 
	 

	 
	"TASA TIlE" significa, Ia tasa de interés interbancaria de equilibrio a plaza de 28 (VEINTIOCHO) días, o en caso de caer en día inhábil el término de dicho plaza, de 26 (VEINTISEIS), 27 (VEINTISIETE) o 29 (VEINTINUEVE) días, determinada por el Banco de México y publicada en el Diario Oficial de Ia Federación, el "DIA HABIL" inmediato anterior a Ia fecha de inicio de cada "PERIODO DE INTERESES".
	 
	 
	"TIlE RATE" means the equilibrium interbank interest rate for a period of TWENTY-EIGHT (28) days or, if the date falls on a date that is not a business day on the end of said period, TWENTY-SIX (26), TWENTY-SEVEN (27) or TWENTY-NINE (29) days, as determined by the Bank of Mexico and published in the Official Journal of the Federation, on the BUSINESS DAY immediately preceding the date that each INTEREST PERIOD begins.

	 
	 
	 
	 
	 
	 
	 

	 
	Para el caso de que en cualquiera de cada uno de los "PERIODOS DE INTERESES" en que se devengarán los intereses no se llegare a contar con Ia determinación por parte do Banco de México de Ia "TASA TIlE", se aplicará al presente contrato Ia tasa de interés que sustituya a dicha "TASA TIlE" y que así Io haya dado a conocer el propio Banco de México, aplicándose como margen los mismos  puntos porcentuales señalados para Ia "TASA TIlE", mismos que están señalados anteriormente y el mismo sistema para su cálculo.
	 
	 
	If, in any of the INTEREST PERIODS during which interest is earned, the "TIlE RATE" is not set by the Bank of Mexico, the interest rate that replaces said "TIlE RATE" as announced by the Bank of Mexico itself will be applied to this contract. The same percentage points indicated for the "TIlE RATE" will be applied as a margin as indicated previously and the same system will be used to calculate it.

	 
	 
	 
	 
	 
	 
	 

	 
	En caso de que el Banco de México no dé a conocer tasa de intereses sustituta de Ia "TASA TIlE", se aplicara al "CREDITO", como tasa sustituta Ia "TASA CETES" (según se define más adelante)  más los mismos puntos porcentuales que de común acuerdo "LAS PARTES" pacten en ese memento.
	 
	 
	If the Bank of Mexico does not announce the interest rate that replaces the TIlE RATE, the "CETES RATE" (as defined hereafter) will be applied to the LOAN as the replacement rate, plus the same percentage points that the PARTIES agree to mutually at that time.

	 
	 
	 
	 
	 
	 
	 

	 
	Para los efectos del presente contrato, "TASA CETES" significa Ia última tasa anual de interés de rendimiento equivalente a Ia de descuento, de los Certificados de Ia Tesorería de Ia Federación a plaza de 28 (VEINTIOCHO) días o, en caso de caer en día inhábil el término de dicho plazo, de 26 (VEINTISEIS), 27 (VEINTISIETE) o 29 (VEINTINUEVE) días, en colocación primaria que semanalmente dé a conocer el Gobierno Federal por conducto de Ia Secretaría de Hacienda y Crédito Público mediante avisos en los periódicos de mayor circulación en el país, siendo aplicable al presente "CREDITO" Ia última "TASA CETES" que se haya dado a conocer de manera previa al inicio de cada "PERIODO DE INTERESES".
	 
	 
	For the purposes of this contract, the "CETES RATE" means the last annual interest rate with a yield equivalent to the discount rate for the Treasury Certificates of the Federation for a term of TWENTY-EIGHT (28) days, or if that date falls on a non-business day, TWENTY-SIX (26), TWENTY-SEVEN (27) or TWENTY-NINE (29) days, in primary placement as announced each week by the Federal Government through the Secretary of Finance and Public Credit by means of notifications in the newspapers with major circulation in the country. The last "CETES RATE" announced prior to the beginning of each INTEREST PERIOD will be applied to this LOAN.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

8

	
							
	 
	En caso de que no se publique ninguna de las tasas anteriormente señaladas, "LAS PARTES" están de acuerdo en celebrar un convenio modificatorio al presente contrato, que tenga por propósito establecer Ia tasa de interés aplicable al mismo. Lo anterior, dentro de un plazo que no podrá ser superior a un plazo de 20 (VEINTE) días naturales, a Ia fecha en que "BANCOMER" le notifique a "EL CLIENTE" de dicha circunstancia. Durante el mencionado plaza regirá Ia ultima tasa de interés aplicada.
	 
	 
	If none of the previously indicated rates are published, the PARTIES agree to enter into an agreement to modify this contract whose purpose is to establish the interest rate applicable to this contract. The foregoing will occur within a period that may not exceed TWENTY (20) calendar days after the date when BANCOMER notifies the CUSTOMER of said circumstance. The last interest rate applied will remain in place during the aforementioned period.

	 
	 
	 
	 
	 
	 
	 

	 
	Será causa de vencimiento anticipado del presente  contrato, el que "LAS PARTES" no lleguen a un acuerdo respecto a Ia tasa sustituta aplicable dentro del plazo arriba pactado, caso en el cual "EL CLIENTE" deberá pagar a "BANCOMER" el saldo insoluto del "CREDITO" y sus demás accesorios, en Ia fecha del citado vencimiento, toda vez que en caso contrario el saldo insoluto devengará intereses moratorios conforme a Ia pactado en el presente instrumento, tomando como base Ia última tasa ordinaria aplicable al presente "CREDITO".
	 
	 
	This contract may be terminated in advance if the PARTIES do not reach an agreement about the applicable replacement rate within the period stipulated above. In such a case, the CUSTOMER must repay BANCOMER for the outstanding balance of the LOAN and any associated payments on the date of the aforementioned expiration, since otherwise the outstanding balance will have late fees applied as set forth in this instrument, using as a basis the last ordinary rate applicable to this LOAN.

	 
	 
	 
	 
	 
	 
	 

	 
	Para calcular los intereses ordinarios de cada "PERIODO DE INTERESES", Ia tasa anualizada de interés aplicable se dividirá entre 360 (TRESCIENTOS SESENTA) y el resultado se multiplicará por el número de los días naturales que integren el "PERIODO DE INTERESES" de que se trate. La tasa resultante se multiplicará por el saldo insoluto del "CREDITO" y el producto será Ia cantidad que por concepto de intereses deberá pagar "EL CLIENTE" a "BANCOMER" en cada "FECHA DE PAGO DE INTERESES".
	 
	 
	To calculate ordinary interest for each INTEREST PERIOD, the applicable annualized interest rate will be divided by THREE HUNDRED SIXTY (360) and the result will be multiplied by the number of calendar days making up the pertinent INTEREST PERIOD. The resulting rate will be multiplied by the LOAN's outstanding balance and the product will be the amount to be paid by the CUSTOMER as interest to BANCOMER on each INTEREST PAYMENT DATE.

	 
	 
	 
	 
	 
	 
	 

	 
	SEPTIMA.- INTERESES MORATORIOS. En caso de que "EL CLIENTE" no pague puntualmente alguna cantidad que deba cubrir en favor de "BANCOMER" conforme al presente contrato, exceptuando intereses, dicha cantidad devengará intereses moratorios desde Ia fecha de su vencimiento hasta que se pague totalmente, intereses que se devengarán diariamente, que se pagarán a Ia vista y conforme a una tasa anualizada igual al resultado de multiplicar Ia tasa de intereses ordinaria por 2 (DOS).
	 
	 
	7. LATE FEES. Should the CUSTOMER make a late payment for any amount owed to BANCOMER based on this contract, with the exception of interest, that amount will have late fees applicable from the due date until it is paid in full. The fees will be applied each day and will be paid on demand based on the annualized rate that is equal to the result of multiplying the ordinary interest rate by TWO (2).

	 
	 
	 
	 
	 
	 
	 

	 
	Para calcular los intereses moratorios, Ia tasa anualizada de interés moratoria aplicable se dividirá entre 360 (TRESCIENTOS SESENTA) y el cociente se aplicará a los saldos insolutos y vencidos, resultando así el interés moratoria de cada día, que se ha obligado a pagar "EL CLIENTE" en términos de este contrato.
	 
	 
	To calculate late fees, the annual late fee rate will be divided by THREE HUNDRED SIXTY (360) and the result will be applied to the outstanding, overdue balance as the late fees for each day that the CUSTOMER must pay under the terms of this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	OCTAVA.- COMISIÓN. "EL CLIENTE" se obliga a pagar a "BANCOMER" comisión por Ia cantidad de $1’500’000.00 (UN MILLON QUINIENTOS MIL PESOS 00/100 M.N.), que será cobrada al momento que "BANCOMER" realice el alta del "CREDITO" en el "SISTEMA".
	 
	 
	8. FEES. The CUSTOMER must pay BANCOMER a fee for opening the LOAN in the amount of $1,500,000.00 (ONE MILLION FIVE HUNDRED THOUSAND PESOS IN THE NATIONAL CURRENCY), which will be collected at the time that BANCOMER releases the LOAN in the SYSTEM.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

9

	
							
	 
	NOVENA.-  LUGAR Y FORMA DE PAGO.  Todos los pagos que deba efectuar "EL CLIENTE" en favor de "BANCOMER" al amparo de este contrato, por capital, intereses, comisiones y demás consecuencias legales, los hará en las fechas convenidas en días y horas hábiles, sin necesidad de previa requerimiento. Dichos pagos serán efectuados a través del "SISTEMA" o en cualquier sucursal de "BANCOMER", ubicada en Ia misma plaza correspondiente al domicilio estipulado por "BANCOMER", o bien, podrán hacerse en cualquier otro lugar que al efecto "BANCOMER" notifique a "EL CLIENTE" con por Ia menos 10 (DIEZ) días de anticipación a Ia fecha de pago respectivo.
	 
	 
	9. PLACE AND METHOD OF PAYMENT.  All the payments to be made by the CUSTOMER to BANCOMER under the auspices of this contract for principal, interest, fees, and other legal consequences will be made on the stipulated dates during normal business hours without the need for any notification to be sent to the CUSTOMER first. The payments will be made using the SYSTEM or at any BANCOMER branch located in the same location as the domicile stipulated by BANCOMER or may be made anywhere else, that BANCOMER reports to the CUSTOMER for said purpose at least TEN (10) days prior to the pertinent payment due date.

	 
	 
	 
	 
	 
	 
	 

	 
	"BANCOMER" estará obligada a recibir cheques y órdenes de transferencias de fondos para el pago de principal, intereses, comisiones y gastos del "CREDITO".
	 
	 
	BANCOMER must accept checks and funds transfer orders to pay the principal, interest, fees, and expenses associated with the LOAN.

	 
	 
	 
	 
	 
	 
	 

	 
	Las órdenes de transferencia de fondos podrán ser enviadas a solicitud de "EL CLIENTE" o por un tercero y Ia institución emisora podrá ser otra Institución de Crédito. Asimismo, los cheques podrán ser librados por "EL CLIENTE" o por un tercero, incluyendo aquellos que hayan sido expedidos a cargo de otra Institución de Crédito. Lo anterior siempre y cuando quienes libren los cheques o soliciten órdenes de transferencias de fondos respectivos, tengan en las cuentas que correspondan recursos suficientes.
	 
	 
	The funds transfer orders may be sent at the CUSTOMER's request or by a third party; the issuing institution may be another credit institution. Likewise, the checks may be drawn by the CUSTOMER or by a third party, including any checks that may have been issued by another credit institution. The foregoing is applicable provided that the parties issuing the checks or requesting funds transfers have sufficient funds in the pertinent accounts.

	 
	 
	 
	 
	 
	 
	 

	 
	El pago del "CREDITO" se acreditara de acuerdo al media de pago que utilice "EL CLIENTE", de Ia manera siguiente:
	 
	 
	The LOAN payment will be credited based on the payment method used by the CUSTOMER as follows:

	
							
	 
	MEDIOS DE PAGO
	FECHAS DE ACREDITAMIENTO DEL PAGO
	 
	 
	PAYMENT MEDIA
	PAYMENT APPLICATION DATE

	 
	Efectivo
	Se acreditará el mismo día.
	 
	 
	Cash
	Cash will be credited the same day.

	 
	Cheque del
mismo
“BANCOMER”
	Se acreditará el mismo día.
	 
	 
	Check from BANCOMER
	The check will be credited the same day.

	 
	Cheque de 
otro banco
	Si se deposita antes de las 16:00 horas, se acreditará a más tardar el “DIA HABIL” siguiente.

Si se deposita después de las 16:00 horas, se acreditará a más tardar el segundo “DIA HABIL” siguiente.
	 
	 
	Check from 
another bank
	If the check is deposited prior to 4:00 p.m., it will be credited on the next business day by the latest.

If the check is deposited after 4:00 p.m., it will be credited on the second business day after the deposit by the latest.

	 
	Domiciliación
	Se acreditará:

a)  En la fecha que “BANCOMER” acuerde con “EL CLIENTE”, o
b)  En la fecha límite de pago del “CREDITO”, préstamo o financiamiento.
	 
	 
	Direct Debit
	The payment will be credited:

c)  On the date that BANCOMER agrees with the CUSTOMER, or
d)  On the LOAN or financing payment due date.

	 
	Transferencias
electrónicos
de fondos
	a)  A través del “SISTEMA” de Pagos Electrónicos Interbancarios (SPEI) o mediante cargos y abonos a cuentas en el mismo “BANCOMER”, se acreditará mismo “DIA HABIL” en que se ordene la transferencia.

b)  A través del Sistema de Pagos Electrónicos, se acreditará a más tardar el “DIA HABIL” siguiente al que se ordene la transferencia.
	 
	 
	Electronic 
funds 
transfers
	c)  Payments made through the Interbank Electronic Payment System (SPEI) or by means of charges or payments to accounts at BANCOMER will be credited the same BUSINESS DAY on which the transfer is ordered.

d)  Payments made through the Electronic Payment System will be credited on the BUSINESS DAY following the day the transfer is ordered by the latest.

	
							
	 
	No obstante lo convenido anteriormente, "EL CLIENTE" instruye expresa e irrevocablemente a "BANCOMER" para que este último cargue a Ia "CUENTA DE CHEQUES", el importe de principal, intereses ordinarias, y en su caso, intereses moratorios, comisiones, gastos y demás accesorios del "CREDITO", acreditándose en el mismo día en que se efectúe el pago.
	 
	 
	Despite what was previously agreed, the CUSTOMER hereby expressly and irrevocably instructs BANCOMER to charge the payments for principal, ordinary interest, late fees, other fees, expenses and items associated with the LOAN to the CUSTOMER's CHECKING ACCOUNT, to be applied on the same date that the payment is made.

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" se obliga a mantener Ia provisión de fondos suficientes en Ia "CUENTA DE CHEQUES" aludida.
	 
	 
	The CUSTOMER must keep sufficient funds in the aforementioned CHECKING ACCOUNT.

/s/ JFZC
/s/ HAGM
/s/ HRDM

10

	
							
	 
	 
	 
	 
	 
	 
	 

	 
	"LAS PARTES" acuerdan que "EL CLIENTE" podrá solicitar su estado de cuenta del "CREDITO" en cualquiera de las sucursales de "BANCOMER". En el estado de cuenta podrá conocer su saldo del "CREDITO", los cargos y abonos efectuados.
	 
	 
	The PARTIES agree that the CUSTOMER may ask for an account statement for the LOAN at any of the BANCOMER branches. The account statement will; show the LOAN balances, charges, and payments made.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA.- PAGOS ANTICIPADOS. "EL CLIENTE" podrá pagar antes de su vencimiento, parcial o totalmente, el importe de las sumas dispuestas sin costo alguno, siempre y cuando este pago se haga en Ia "FECHA DE PAGO DE INTERESES". El importe de los pagos anticipados será aplicado primeramente al pago de intereses generados no vencidos y por último al capital.
	 
	 
	10. PRE-PAYMENTS.  The CUSTOMER may make the loan payments, whether in full or in part, prior to the payment due date without charge, provided such payment is made in the "INTEREST PAYMENT DATE".  The pre-payment amounts will be applied first to any earned interest payment that is not overdue and then to principal.

	 
	 
	 
	 
	 
	 
	 

	 
	En él supuesto que el pago anticipado se realice fuera de Ia "FECHA DE PAGO DE INTERESES" y cause algún costo a "BANCOMER", esta costa será cubierto por "EL CLIENTE", en Ia misma fecha en que se realice dicho pago.
	 
	 
	Should the pre-payment take place outside of the "INTEREST PAYMENT DATE" and entail any cost for BANCOMER, the cost will be paid by the CUSTOMER on the same date that the payment is made.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA PRIMERA.- OBLIGACIONES ESPECIALES.  "EL CLIENTE" está obligado a cumplir durante Ia vigencia de este contrato y mientras exista saldo derivado del mismo, las obligaciones siguientes:
	 
	 
	11. SPECIAL OBLIGATIONS. The CUSTOMER must comply with the following obligations while this contract is in effect and while there is any outstanding balance: 

	 
	 
	 
	 
	 
	 
	 

	 
	A.
	OBLIGACIONES DE HACER.
	 
	 
	B.
	OBLIGATIONS.

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Entregar a "BANCOMER" sus estados financieros anuales dictaminados, cuándo exista Ia obligación fiscal de hacerlo, dentro de los 210 (DOSCIENTOS DIEZ) días naturales, posteriores al cierre de su ejercicio social, de las empresas: Avícola Pilgrim's Pride de México, S.A. de C.V. y subsidiarias, en forma individual y consolidada, Pilgrim's Pride, S. de R.L. de C.V., Comercializadora de Carnes de México, S. de R.L. de C.V., Pilgrim's Pride Co., y JBS, S.A., de manera enunciativa más no limitativa.
	 
	 
	1.
	Provide BANCOMER with annual official financial statements, when there is any tax payment due, within TWO HUNDRED TEN (210) calendar days after the close of the company's fiscal period, of the companies: Avícola Pilgrim's Pride de México, S.A. de C.V.  and subsidiaries, individually and consolidated, Pilgrim's Pride, S. de R.L. de C.V., Comercializadora de Carnes de México, S. de R.L. de C.V., Pilgrim's Pride Co., and JBS, S.A., that as enunciated most without limitation.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	Entregar a "BANCOMER" dentro de los 90 (NOVENTA) días naturales siguientes al cierre de cada semestre, los estados financieros internes y/o relación patrimonial de bienes (según sea el caso), que incluyan balance, estado de resultados y relaciones analíticas de sus principales cuentas de activo y pasivo, de las empresas señaladas en el punto 1 anterior.
	 
	 
	2.
	Provide BANCOMER internal financial statements and/or financial condition statements (as the case may be) to BANCOMER within NINETY (90) calendar days after the close of the semester annual fiscal period. They  must include the balance sheet, the profit and loss statements and analytical ratios between the CUSTOMER's main asset and liability accounts, of the companies mentioned in point 1 above.

	 
	 
	 
	 
	 
	 
	 

	 
	3.
	lnformar a "BANCOMER" dentro de los 45 (CUARENTA Y CINCO) días hábiles siguientes a su acontecimiento, de cualquier evento que pudiera  afectar, afecte o menoscabe Ia situaci6n financiera actual de su negocio que ponga en riesgo el cumplimiento de sus obligaciones de pago estipuladas en este contrato o incurra en alguna de las causa  de vencimiento anticipado previstas en este contrato informando además, las acciones y medida que se vayan a tomar al respecto.
	 
	 
	3.
	Report to BANCOMER within FORTY FIVE (45) business days after the occurrence of any event that may affect or endanger the current financial situation of its business that endangers the fulfillment of its payment obligations stipulated in this contract or after incurring any of the causes for early termination provided in this contract. The CUSTOMER must also report any actions and measures that will be taken to BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	B.
	OBLIGACIONES DE NO HAGER.
	 
	 
	B.
	OTHER OBLIGATIONS.

/s/ JFZC
/s/ HAGM
/s/ HRDM

11

	
							
	 
	Sin previa autorización por escrito de "BANCOMER", "EL CLIENTE" no podrá:
	 
	 
	Without previous written authorization from BANCOMER, the CUSTOMER may not:

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Contratar pasivos con costo financiero, cuyos montos y garantías, pudieran afectar las obligaciones de pago establecidas en el presente contrato.
	 
	 
	1.
	Take out liabilities with any financial cost whose amounts and collateral may affect the payment obligations set forth in this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	Otorgar préstamos y/o garantías a terceros o empresas filiales que pudieran afectar las obligaciones de pago establecidas en el presente contrato.
	 
	 
	2.
	Issue loans and/or guarantees to third parties or associated companies that may affect the payment obligations set forth in this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA SEGUNDA.- GASTOS. Todos los gastos, así como en su caso los honorarios del Fedatario Público y derechos de Registro, derivados de este contrato, deberán ser cubiertos por "EL CLIENTE".
	 
	 
	12. EXPENSES. Any expenses including professional fees for notaries public and registration fees derived from this contract are to be paid by the CUSTOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	Para el caso de que "EL CLIENTE" en un plaza de 10 (DIEZ) días naturales contados a partir de Ia fecha de firma del presente contrato, no haya efectuado el pago pre aprobado que por gastos, honorarios y derechos que el presente contrato origine, autoriza expresa e irrevocablemente a "BANCOMER" para que le sean cargadas en su "CUENTA DE CHEQUES", en el entendido, que si no cuenta con fondos suficientes en Ia misma, "BANCOMER" realizará el pago, obligándose a resarcir a "BANCOMER" de estas cantidades, en un plaza de 10 (DIEZ) días naturales contados a partir de que "BANCOMER" haya efectuado el page, obligándose, además, a pagar los intereses moratorios pactados en el presente instrumento per cada día de mora en el page de estos conceptos, tomando como base, Ia última tasa ordinaria aplicable al "CREDITO".
	 
	 
	If, within a period of TEN (10) calendar days after the date that this contract is signed, the CUSTOMER has not made the preapproved payment for any expenses, professional fees, and other fees arising from this contract, the CUSTOMER expressly and irrevocably authorizes BANCOMER such that said expenses and fees may be charged to the CUSTOMER's CHECKING ACCOUNT with the understanding that if the CHECKING ACCOUNT has insufficient funds, BANCOMER will make the payment and that BANCOMER is to be reimbursed for said amounts within a period of TEN (10) calendar days after the date when BANCOMER made the payment. In addition, the CUSTOMER must pay for any late fees stipulated in this instrument for every day that payment for these items is in arrears, using as a basis the last ordinary rate applicable to the LOAN.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA TERCERA.- IMPUESTOS.  "EL CLIENTE" pagará a "BANCOMER" todas las sumas de principal, intereses y otras sumas pagaderas conforme al presente contrato, libres, exentas y sin deducción, carga o cualquier otra responsabilidad fiscal que grave dichas cantidades en Ia actualidad o en el futuro, pagaderos en cualquier jurisdicción en México.
	 
	 
	13. TAXES.  The CUSTOMER will pay any amounts related to principal, interest and other amounts payable based on this contract to BANCOMER free and clear of any deduction, charge or any other tax liability applied to said amounts currently or in the future that may be payable in any jurisdiction in Mexico.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA CUARTA.- CAUSAS DE VENCIMIENTO ANTICIPADO.  El plazo para el pago del "CREDITO" y sus accesorios se podrá dar por vencido anticipadamente, sin necesidad de declaración judicial previa, en caso de que acontezca cualquiera de las siguientes causas:
	 
	 
	14. CAUSES FOR EARLY TERMINATION. The deadline to pay off the LOAN and any associated amounts may be moved forward without the need for any legal ruling to do so, in case any of the following causes occurs:

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Si "EL CLIENTE" no pagase puntual e íntegramente a su vencimiento el capital, o los intereses devengados, o comisiones o gastos que se causen en virtud del presente instrumento y en relación con el "CREDITO" (cada uno de dichos eventos constituirá una "CAUSA DE VENCIMIENTO ANTICIPADO").
	 
	 
	1.
	If the CUSTOMER does not make a full payment on time for any principal or earned interest due or for fees or expenses that are due that are caused by virtue of this instrument or in relation to the LOAN (each of said events will constitute a "CAUSE FOR EARLY TERMINATION").

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

12

	
							
	 
	2.
	Si "EL CLIENTE" después de 10 (diez) días de recibir notificación per escrito de "BANCOMER" faltare al cumplimiento de cualquiera de sus obligaciones bajo el presente instrumento, incluyendo sin limitar las obligaciones de hacer y de no hacer estipuladas en el presente instrumento, si incumple otros contratos u obligaciones que tenga contraídas con "BANCOMER" o que contraiga con él en lo futuro.
	 
	 
	2.
	If the CUSTOMER after TEN (10) days of receiving written notice from "BANCOMER" fails to comply with any of its obligations as set forth in this instrument, including without limitation all of the obligations stipulated in Sections 11.A and 11.8 of this instrument, or if it is in breach of any other contracts or obligations that the CUSTOMER has with BANCOMER or that the CUSTOMER may enter into with BANCOMER in the future.

	 
	 
	 
	 
	 
	 
	 

	 
	lndependientemente de lo anterior, el "CREDITO" se extinguirá en los cases previstos per el Articulo trescientos uno de Ia Ley General de Títulos y Operaciones de Crédito.
	 
	 
	Notwithstanding the foregoing, the LOAN will be extinguished in the cases provided in Article 301 of the General Credit Operations and Securities Law.

	 
	 
	 
	 
	 
	 
	 

	 
	En caso de ocurrir alguna de las causas de vencimiento anticipado antes previstas o las que se derivan de Ia ley, "BANCOMER" podrá declarar de  manera inmediata el importe total de dicho "CREDITO" y todas las demás sumas que se adeuden bajo el presente contrato; en caso contrario "EL CLIENTE" se obliga a pagar intereses  moratorios conforme a lo pactado en el presente instrumento, tomando como base Ia última tasa ordinaria aplicable al presente "CREDITO".
	 
	 
	Should any of the causes for early termination provided above occur or should any of the causes derived from the law occur, BANCOMER may declare that the deadline stipulated for the payment of the LOAN and other associated payments set forth in this instrument has ended. In such a case, the CUSTOMER must immediately pay BANCOMER for the full LOAN amount, including any other sums owed under this contract. Otherwise, the CUSTOMER must pay late fees as set forth in this instrument, using the last ordinary interest rate applicable to this LOAN as a basis.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA QUINTA.- COMPENSACION. En el supuesto de que en cualquier fecha en que "EL CLIENTE" deba pagar a "BANCOMER" cualquier cantidad conforme a este instrumento y ''EL CLIENTE" incumpliere con esa obligación de pago, este último en la medida permitida por Ia ley, autoriza y faculta irrevocablemente "BANCOMER" para que cargue contra cualquier depósito y o cuenta que "EL CLIENTE" mantenga con "BANCOMER" (incluyendo, sin limitar depósitos y o cuentas a Ia vista, de ahorro, a plazo, provisionales o definitivas, cuentas de inversión cualesquiera que estas sean) y compense contra cualquier adeudo que "BANCOMER" pueda tener a su cargo y a favor de "EL CLIENTE" por cualquier concepto, precisamente hasta una cantidad igual al monto de Ia cantidad no pagada a "BANCOMER", sin necesidad de requerimiento, aviso o demanda alguna.
	 
	 
	15. COMPENSATION. Should the CUSTOMER fail to make a payment that it owes to BANCOMER on the due date based on this instrument, the CUSTOMER, to the degree allowed by law, hereby irrevocably authorizes and empowers BANCOMER to charge said payment against any deposit or account that the CUSTOMER has with BANCOMER (including, without limitation, deposits and/or on-demand accounts, savings accounts, term, provisional or definitive accounts, and investment accounts, whatever they may be) and to compensate BANCOMER for any amount owed by the CUSTOMER for any item, precisely up to an amount equal to the amount that went unpaid to BANCOMER, with no need for any notification, warning, or lawsuit to be filed first.

	 
	 
	 
	 
	 
	 
	 

	 
	"BANCOMER" notificará a "EL CLIENTE", tan pronto como le sea posible, de cualquier cargo o compensación que haya efectuado conforme a lo permitido en ésta cláusula, en el entendido de que a falta de dicha notificación no afectará en forma alguna Ia validez del mencionado cargo o compensación.
	 
	 
	BANCOMER will notify the CUSTOMER, as soon as possible, of any charge or compensation that it has processed, as allowed in this clause with the understanding that failure to provide any such notification will not in any way affect the validity of said charge or compensation.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

13

	
							
	 
	DECIMA SEXTA.- CESION DEL CREDITO.  Este contrato surtirá sus efectos una vez que haya sido suscrito por "EL CLIENTE" y "BANCOMER" y posteriormente obligará y beneficiará a "EL CLIENTE" y a "BANCOMER" y a sus respectivos sucesores y cesionarios según sea el caso, "EL CUENTE" no podrá ceder sus derechos u obligaciones conforme a este contrato, ni interés en el mismo sin el consentimiento previa y por escrito de "BANCOMER". "BANCOMER" por su parte, podrá transmitir, ceder o negociar este "CREDITO" sin limitación alguna si "EL CLIENTE" faltare al cumplimiento de cualquiera de sus obligaciones bajo el presente contrato, y con el consentimiento por escrito de "EL CLIENTE" sólo para el caso de que se encuentre al corriente en el cumplimiento de las obligaciones bajo el presente contrato, al cesionario le corresponderán en contra de "EL CLIENTE" los mismos derechos y beneficios que tendría si fuera "BANCOMER" en este contrato.
	 
	 
	16. LOAN TRANSFER. This contract will take effect once it has been signed by the CUSTOMER and BANCOMER. At that point, it will be binding on and to the benefit of the CUSTOMER and BANCOMER and their different successors and assigns, as the case may be. The CUSTOMER may not transfer its rights or obligations as set forth in this contract, nor may the CUSTOMER transfer any interest herein without first obtaining written consent from BANCOMER. For its part, BANCOMER may transfer, convey, or trade this LOAN without limitation if the CUSTOMER fails to comply with any of its obligations as set forth in this contract, and with the written consent of the CUSTOMER just in case that is current on compliance with the obligations as set forth in this contract. The recipient of said transfer, conveyance or trade will have the same rights and benefits in relation to the CUSTOMER as though said recipient were BANCOMER in this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA SEPTIMA. RESTRICCION Y DENUNCIA. En términos del artículo doscientos noventa y cuatro de Ia Ley General de Títulos y Operaciones de "BANCOMER" se reserva el derecho de denunciar o restringir el presente contrato si "EL CLIENTE" faltare al cumplimiento de cualquiera de sus obligaciones de conformidad con Ia cláusula décima cuarta, en cualquier momento y mediante aviso por escrito que entregue a "EL CLIENTE".
	 
	 
	17. RESTRICTION AND WAIVER. Under the terms of Article 294 of the General Credit Operations and Securities Law, it is hereby expressly stipulated that BANCOMER reserves the right to waive or restrict this contract if the CUSTOMER fails to comply with any of its obligations as provided by clause 14 at any time by means of a written notice served on the CUSTOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	En caso de denuncia de este contrato, el "CREDITO" se extinguirá en Ia parte en que "EL CLIENTE" no hubiere dispuesto, se darán por vencidos anticipadamente los plazas pactados y "EL CUENTE" deberá pagar a "BANCOMER" de inmediato, el importe de las sumas de que haya dispuesto, más las que le adeude por cualquier otro concepto.
	 
	 
	Should this contract be waived, any amounts of the LOAN that the CUSTOMER has not accessed will be extinguished. The amounts of the LOAN that the CUSTOMER has already used will be called due and the CUSTOMER must immediately pay back the amounts of the loan that the CUSTOMER has used, plus what is owed by the CUSTOMER to BANCOMER for any other item.

	 
	 
	 
	 
	 
	 
	 

	 
	CAPITULO SEGUNDO
MEDIOS ELECTRONICOS
	 
	 
	CHAPTER TWO
ELECTRONIC MEDIA

	 
	 
	 
	 
	 
	 
	 

	 
	TITULO I
USO DE MEDIOS ELECTRONICOS
	 
	 
	TITLE I
USING ELECTRONIC MEDIA

	 
	 
	 
	 
	 
	 
	 

	 
	DECIMA OCTAVA.- CONSENTIMIENTO POR MEDIOS ELECTRONICOS.  "EL CLIENTE" conoce y acepta que Ia manifestación de su consentimiento, respecto de los aetas convenidos en este contrato, lo expresaran a través: (i) de información generada, enviada, recibida, archivada o comunicada, a través de medias electrónicos, ópticos o de cualquier otra tecnología (en lo sucesivo "MENSAJE DE DATOS") (ii) del usa de claves y contraseñas previamente convenidas entre "LAS PARTES"; y (iii) del uso de equipos de cómputo y sistemas automatizados conforme a lo establecido en este contrato y en el(los) contrato(s) que "EL CLIENTE" tiene celebrado con "BANCOMER" para el uso y operación del "SISTEMA" referido en las declaraciones de este instrumento.
	 
	 
	18. CONSENT TO THE USE OF ELECTRONIC MEDIA. The CUSTOMER is aware of and accepts that the manifestation of its consent in relation to the actions stipulated in this contract will be expressed through: (i) the information that is generated, sent, received, filed or communicated through electronic, optical or any other media (hereinafter the "DATA MESSAGE"), (ii) by using user names and passwords previously agreed to by the PARTIES; and (iii) by using computer equipment and; automated systems as set forth in this contract and in any contract(s) that the CUSTOMER may have  entered into  with BANCOMER to use and operate the SYSTEM referenced in the recitals in this instrument.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

14

	
							
	 
	DECIMA NOVENA.- SUSTITUCION DE LA FIRMA AUTOGRAFA. En virtud a lo estipulado en Ia cláusula anterior, "BANCOMER" y "EL CLIENTE" convienen en términos de lo establecido en las legislaciones aplicables, que el uso de los medios de identificación electrónicos previstos en este instrumento y las operaciones realizadas mediante la transmisión de "MENSAJES DE DATOS" a través del empleo de las claves y contraseñas en el "SISTEMA", sustituirán Ia firma autógrafa, tendrán plena valor probatorio y fuerza legal para acreditar la(s) disposiciones del "CREDITO", el importe de la(s) misma(s), las tasas de intereses y producirán los mismos efectos que las leyes otorgan a los documentos correspondientes y, en consecuencia, tendrán el mismo valor probatorio.
	 
	 
	19. MANUAL SIGNATURE REPLACEMENT. By virtue of the stipulations in the previous clause, BANCOMER and the CUSTOMER agree, under the terms of the contents of the applicable laws, that using the electronic identification media provided in this instrument and the operations carried out by transmitting DATA MESSAGES by using user names and passwords in the SYSTEM will replace the manual signature,  and will have full evidentiary value and legal force and will produce the same effect that the laws grant to the pertinent documents and, as a consequence, will have the same value to be used as evidence.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA.- AUTORIZACION PARA LA REALIZACION DE DISPOSICION POR MEDIOS ELECTRONICOS. Asimismo y para todos los efectos legales a que haya lugar, "EL CLIENTE" conviene con “BANLCOMER” en que se entenderán autorizadas y facultadas por cuenta y arden de "EL CLIENTE" a todas y cada una de las personas que realicen las operaciones por medios electrónicos materia de este instrumento proporcionando los datos de las claves contraseñas que con "BANCOMER" tiene establecidas, liberando a "BANCOMER" de cualquier responsabilidad derivada del uso indebido de dichos medios.
	 
	 
	20. AUTHORIZATION TO MAKE ELECTRONIC MEDIA AVAILABLE. Likewise, and for all legal intents and purposes, the CUSTOMER agrees with BANCOMER that any of the parties that the CUSTOMER authorizes and should this contract be waived, any amounts of the LOAN that the CUSTOMER has not accessed will be extinguished. The amounts of the LOAN that the CUSTOMER has already used will be called due and the CUSTOMER must immediately pay back the amounts of the loan that the CUSTOMER has used, plus what is owed by the CUSTOMER to BANCOMER for any other item.

	 
	 
	 
	 
	 
	 
	 

	 
	Ambas partes convienen en que el uso de las claves y contraseñas sirven de medios de autentificación, identificación y expresión del consentimiento de "EL CLIENTE" en el "SISTEMA" y que éstas serán utilizadas en sustitución del nombre y Ia firma autógrafa de "EL CLIENTE". "BANCOMER" se basará en ellos de Ia misma manera y para los mismos propósitos y alcances.
	 
	 
	Both parties agree that user names and passwords will be used as a means of authentication, identification, and as an expression of the CUSTOMER's consent in the SYSTEM and that they will be used as a replacement for the CUSTOMER's name and manual signature. BANCOMER will use the user names and passwords the same way and for the same purposes and with the same scope as the CUSTOMER's name and manual signature.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA PRIMERA.- MODIFICACIONES A LOS MEDIOS ELECTRONICOS.  "BANCOMER" podrá en todo momento mejorar Ia calidad de sus servicios estableciendo modificaciones a las reglas del "SISTEMA" y/o a los procedimientos de acceso e identificación, con previa aviso a "EL CLIENTE" ya sea par escrito, mediante el "SISTEMA" o por cualquier otro media, con 7 (SIETE) días hábiles de anticipación a Ia fecha de entrada en vigor de las mismas, de quien se entenderá su aceptación mediante Ia utilización que haga de dicho "SISTEMA" después de que estas hayan entrada en vigor.
	 
	 
	21. MODIFICATIONS TO ELECTRONIC MEDIA.  BANCOMER may at any time improve the quality of its services by making modifications to the SYSTEM's rules and/or the access and identification procedures after notifying the CUSTOMER either in writing, through the SYSTEM or by any other means SEVEN (7) days in advance of the date that the modifications will take effect. When the SYSTEM has been used by the CUSTOMER after the modifications have been made, it will signify the CUSTOMER's acceptance of the modifications.

	 
	 
	 
	 
	 
	 
	 

	 
	Asimismo ambas partes convienen que "BANCOMER" podrá fijar libremente las bases, requisitos y condiciones de operación del "SISTEMA", así como los días y el horario de su operación.
	 
	 
	Likewise, both parties agree that BANCOMER may set the bases, requirements and conditions for operating the SYSTEM as well as the days and schedule when the SYSTEM may be used.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

15

	
							
	 
	VIGESIMA SEGUNDA.- CONSULTA DEL CREDITO. La información que "BANCOMER" proporcione a "EL CLIENTE", a través del "SISTEMA", corresponderá a Ia que en sus registros y sistemas aparezca a esa fecha. En los estados de cuenta de Ia "CUENTA DE CHEQUES" que se envíen a "EL CLIENTE", se hará constar e identificarán las operaciones realizadas al amparo de este servicio, mediante los cargos y abonos correspondientes.
	 
	 
	22. LOAN QUERY. The Information that BANCOMER provides the CUSTOMER through the SYSTEM will be the information that BANCOMER has in its records and systems as of that date.  The CHECKING ACCOUNT statements that are sent to the CUSTOMER will show a record of and identify the operations carried out by using this service, with the pertinent charges and payments.

	 
	 
	 
	 
	 
	 
	 

	 
	Las observaciones al estado de cuenta las formulará "EL CLIENTE" en Ia forma y los términos establecidos en el contrato que rige dicha operación.
	 
	 
	Any comments that the CUSTOMER makes about the account statement will be formulated by the CUSTOMER in the form and under the terms set forth in the contract that governs said operation.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA TERCERA.- LIBERACION DE RESPONSABILIDAD. En ningún caso "BANCOMER" será responsable de algún daño, incluyendo sin límite, daños, pérdidas, gastos directos, indirectos, inherentes o consecuentes que surjan en relación con el sitio web, Ia página de internet, el "SISTEMA" o cualquier medio convenido par "LAS PARTES" por el uso o imposibilidad de uso por alguna de "LAS PARTES", o en relación con cualquier falla en el rendimiento, error, omisi6n, interrupci6n, defecto, demora en Ia operación o transmisión, virus de computadora o falla de sistema o línea. En caso de falla atribuible a BANCOMER notificará al cliente las medidas contingentes mencionadas en Ia cláusula vigésima octava de este contrato.
	 
	 
	23. RELEASE OF LIABILITY.  In no case will BANCOMER be liable for any damage, including without limitation, damages, losses, direct or indirect expenses or expenses that are inherent to or consequential to using the web site, the Internet page, the SYSTEM or to using any medium stipulated by the PARTIES due to using the SYSTEM or the inability to use the SYSTEM by any of the PARTIES or in relation to any failure to perform, error, omission, interruption, defect, delay in operations or transmissions, computer virus or system or line failure. In case of failure attributable to BANCOMER notify the CUSTOMER contingent measures mentioned in the twenty­ eighth clause of this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA CUARTA.- REGULACION EN LAS OPERACIONES REALIZADAS POR MEDIOS ELECTRONICOS.  Las operaciones que se llevan a cabo conforme a lo señalado en el presente título, se regirán siempre y sin excepción alguna, por los términos y condiciones generales establecidos en éste instrumento y por Ia legislación aplicable a este tipo de operaciones.
	 
	 
	24. REGULATION FOR OPERATIONS CARRIED OUT USING ELECTRONIC MEDIA.  Any operations carried out based on the contents of this title will always be governed, without exception, by the general terms and conditions established in this instrument and by the legislation that is applicable to this type of operation.

	 
	 
	 
	 
	 
	 
	 

	 
	TITULO II
FORMA DE LA OPERACION EN EL SISTEMA
	 
	 
	TITLE II
HOW TO OPERATE THE SYSTEM

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA QUINTA. DE LA MECANICA OPERATIVA.  Para efecto de lo señalado en el presente título, "BANCOMER" y "EL CLIENTE" convienen lo siguiente:
	 
	 
	25. OPERATIONAL MECHANICS. For the purposes set forth in this section, BANCOMER and the CUSTOMER agree to the following:

	 
	 
	 
	 
	 
	 
	 

	 
	A.
	PARA EL SERVICIO DE BANCA EN LINEA.
	 
	 
	A. 
	THE BANKING ON LINE SERVICE.

	 
	 
	 
	 
	 
	 
	 

	 
	1.
	Al momento de ingresar al "SISTEMA", "EL CLIENTE" deberá de apegarse al procedimiento descrito en el contrato de banca electrónica que tiene celebrado con "BANCOMER".
	 
	 
	1.
	When the CUSTOMER enters the SYSTEM, it should follow the procedure described in the electronic banking contract that was entered into with BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	"EL CLIENTE" invariablemente para realizar cualesquiera de los operaciones estipuladas en este contrato, deberá proporcionar un número de identificación (en lo sucesivo "CLAVE DE OPERACION").
	 
	 
	2.
	To carry out any of the operations stipulated in this contract, the CUSTOMER must always provide an identification number (hereinafter the "PASSWORD").

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

16

	
							
	 
	3.
	"EL CLIENTE" reconoce y acepta el carácter personal y confidencial de las "CLAVES DE ACCESO" y "CLAVE DE OPERACION".
	 
	 
	3.
	The CUSTOMER acknowledges and accepts that the "USER NAMES" and "PASSWORDS" are personal and confidential.

	 
	 
	 
	 
	 
	 
	 

	 
	4.
	Cada vez que "EL CLIENTE" realice disposiciones del "CREDITO" por medio del "SISTEMA", lo ratificará identificándose con su "CLAVE DE OPERACION", hacienda constar en su "MENSAJE DE DATOS" Ia leyenda siguiente:
	 
	 
	4.
	Each time that the CUSTOMER uses the SYSTEM to access the LOAN, the CUSTOMER must enter the PASSWORD as identification to record the following text in the DATA MESSAGE:

	 
	 
	 
	 
	 
	 
	 

	 
	CONSENTIMIENTO DE LA DISPOSICION
	 
	 
	CONSENT TO LOAN APPLICATION

	 
	 
	 
	 
	 
	 
	 

	 
	AI oprimir el botón de "DISPONER" usted manifiesta su voluntad de disponer y efectivamente dispone de Ia cantidad indicada bajo las condiciones que establece esta pantalla y el contrato de crédito que usted celebró previamente con BBVA Bancomer, S.A. lnstitución de Banca Múltiple, Grupo Financiero BBVA Bancomer.
	 
	 
	When the "APPLY" button is clicked, you are stating that you are willing to access the indicated amount under the conditions shown on the screen and in the loan contract that you entered into previously with BBVA Bancomer, S.A. lnstitución de Banca Múltiple, Grupo Financiero BBVA Bancomer. 

	 
	 
	 
	 
	 
	 
	 

	 
	5.
	Posteriormente aparecerá Ia siguiente leyenda:
	 
	 
	5.
	Next, the following text will appear:

	 
	 
	 
	 
	 
	 
	 

	 
	CONFIRMACION DE LA DISPOSICION
	 
	 
	APPLICATION CONFIRMATION

	 
	 
	 
	 
	 
	 
	 

	 
	Confirmamos que usted realizó una disposición en los términos y bajo las condiciones que señala esta pantalla y el contrato de crédito que usted celebró previamente con BBVA Bancomer, S.A. lnstitución de Banca Múltiple, Grupo Financiero BBVA Bancomer.
	 
	 
	We are confirming that you applied the amount under the terms and conditions indicated on this screen and in the loan contract that you entered into previously with BBVA Bancomer, S.A. lnstitución de Banca Múltiple, Grupo Financiero BBVA Bancomer.

	 
	 
	 
	 
	 
	 
	 

	 
	6.
	Si Ia "CLAVE DE OPERACIÓN es correcta, "BANCOMER" por conducto del "SISTEMA", depositará a "EL CLIENTE" en Ia "CUENTA DE CHEQUES", el monte del "CREDITO" solicitado.
	 
	 
	6.
	If the PASSWORD is correct, BANCOMER will use the SYSTEM to deposit the LOAN amount requested into the CUSTOMER’S CHECKING ACCOUNT.

	 
	 
	 
	 
	 
	 
	 

	 
	Asimismo "LAS PARTES" convienen, para todos los efectos legales a que haya lugar, en que los MENSAJES DE DATOS en que consten las disposiciones del "CREDITO" que "EL CLIENTE" realice al amparo del presente contrato a través del "SISTEMA", se tendrán por expedidos y recibidos en Ia Ciudad de México, Distrito Federal, lugar en donde se encuentra "EL SISTEMA", en términos de Ia legislación federal aplicable.
	 
	 
	Likewise, the PARTIES agree that, for all legal intents and purposes, the DATA MESSAGES that show the amounts of the LOAN that the CUSTOMER is applying under the auspices of this contract through the SYSTEM, will be issued and received in Mexico City, the Federal District, which is where the SYSTEM is located, under the terms of the applicable federal legislation.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA SEXTA. OPERACIONES REALIZADAS POR MEDICS ELECTRONICOS. "BANCOMER" registrara en el "SISTEMA" las disposiciones que  "EL CLIENTE" realice del "CREDITO", así como de los pagos que realice.
	 
	 
	26. OPERATIONS CARRIED OUT USING ELECTRONIC MEDIA.  BANCOMER will record the LOAN amounts that the CUSTOMER applies in the system, as well as any payments made.

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA SEPTIMA.  INFORMACION  SOBRE LA LINEA DE CREDITO. Durante toda Ia vigencia del presento contrato y, en su case, de sus prórrogas,  "EL CLIENTE" podrá consultar por medio del "SISTEMA", Ia información que "BANCOMER" mantendrá registrada en los mismos, respecto de su línea de "CREDITO", debiendo sujetarse "EL CLIENTE" en dichas consultas a los procedimientos, plazos y estipulaciones aplicables a dichos medios de cómputo.
	 
	 
	27. INFORMATION ABOUT THE LINE OF CREDIT.  During the effective period of this contract and, as the case may be, any extensions hereto, the CUSTOMER may use the SYSTEM to look up the information that BANCOMER will have recorded about the CUSTOMER's line of credit. The CUSTOMER must be subject to the procedures, deadlines, and stipulations applicable to said computer media while looking up said information.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

17

	
							
	 
	CAPITULO TERCERO
PROCEDIMIENTO EXCEPCIONAL DE
DISPOSICION
	 
	 
	CHAPTER THREE
EXCEPTIONAL APPLICATION PROCEDURE

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA OCTAVA.- "AVISOS DE DISPOSICION". "BANCOMER" y "EL CLIENTE" convienen que de manera excepcional y/o en caso de falla del "SISTEMA", "EL CLIENTE" podrá disponer del "CREDITO" mediante Ia firma de "AVISOS DE DISPOSICION", cuyos vencimientos se ajustarán a lo dispuesto en Ia cláusula cuarta del presente instrumento.
	 
	 
	28. "AVAILABILITY NOTIFICATIONS." BANCOMER and the CUSTOMER agree that, as an exception and/or in case the SYSTEM is non-functional, the CUSTOMER may access the LOAN by signing the AVAILABILITY NOTIFICATIONS, whose ending dates will match the contents of clause 4 in this instrument.

	 
	 
	 
	 
	 
	 
	 

	 
	CAPITULO CUARTO
DISPOSICIONES GENERALES
	 
	 
	CHAPTER FOUR
GENERAL PROVISIONS

	 
	 
	 
	 
	 
	 
	 

	 
	VIGESIMA NOVENA.- FIANZA. En garantía del puntual y oportuno pago del "CREDITO", intereses, intereses moratorios y demás accesorios establecidos en el presente contrato, "LOS  FIADORES" las sociedades denominadas "PILGRIM'S PRIDE", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, y "COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSABILIDAD  LIMITADA DE CAPITAL VARIABLE, ambas representadas en este acto por HÉCTOR RENÉ DURÁN MANTILLA, se obligan conjunta y   solidariamente con "EL CLIENTE" y se constituyen fiadores lisos y llanos pagadores a favor de "BANCOMER".
	 
	 
	29. GUARANTEES. To guarantee that the LOAN payments, interest, late fees, and other payments set forth in the contract are made on time, the GUARANTORS, the companies called "PILGRIM'S PRIDE", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, and "COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE, both represented herein by HÉCTOR RENÉ DURÁN MANTILLA, are jointly and severally liable with the CUSTOMER and they are guarantors who are liable for making payments to BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	"LOS FIADORES" están conscientes que Ia tasa aplicable para calcular los intereses ordinarios será Ia que se determina en Ia cláusula SEXTA de este contrato.
	 
	 
	The GUARANTORS are aware that the rate applicable to calculate the ordinary interest will be determined in the clause SIX of this contract.

	 
	 
	 
	 
	 
	 
	 

	 
	"LOS FIADORES" expresamente aceptan que todas y cada una de las obligaciones contenidas en el  presente contrato, a cargo de "EL CLIENTE", son existentes y válidas conforme a derecho, por lo que "LOS FIADORES" se obligan a pagar a favor de "BANCOMER" las cantidades derivadas por dichas obligaciones, sin necesidad de mayor trámite o procedimiento alguno y sin que puedan oponer excepción alguna al pago que como fiadores   deberán hacer a favor de "BANCOMER".
	 
	 
	The GUARANTORS expressly accept that any and all of the obligations contained in this contract that apply to the CUSTOMER are existing and valid based on the law such that the GUARANTORS must pay any amounts to BANCOMER that arise from said obligations, with no further ado or legal procedure. The GUARANTORS also accept the fact that they may not file an objection to the payment that, as the GUARANTORS, they must make to BANCOMER.

	 
	 
	 
	 
	 
	 
	 

	 
	"LOS FIADORES" renuncian expresamente en este acto a los beneficios de orden, excusión y división,  en su case, contenidos en los artículos 2814 (DOS   MIL OCHOCIENTOS CATORCE), 2815 (DOS MIL OCHOCIENTOS QUINCE) y 2837 (DOS MIL  OCHOCIENTOS TREINTA Y SIETE) del Código Civil Federal y las disposiciones correlativas de los Códigos del Distrito Federal y de los Estados de Ia   República Mexicana, vigentes a Ia fecha de firma del presente instrumento.
	 
	 
	The GUARANTORS hereby expressly waive the right to require prior exhaustion of remedies against the principal debtor, as the case may be, contained in Article 2814, 2815, and 2847 of the Federal Civil Code and the corollary provisions in the Codes of the Federal District and the States of the Mexican Republic in place on the date that this instrument is signed.

	 
	 
	 
	 
	 
	 
	 

	 
	La fianza objeto del presente contrato subsistirá hasta que "BANCOMER" haya recibido el pago de todo cuanto se adeudare por concepto de las obligaciones contraídas por "EL CLIENTE" en el presente contrato, así como sus accesorios y demás consecuencias legales, aun cuando:
	 
	 
	Until BANCOMER has received  payment for any amount owed due to the obligations assumed by the CUSTOMER in this contract, the bond underlying this contract will serve as a replacement, including any associated payments and other legal consequences, even when:

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

18

	
							
	 
	1.
	Se conceda prórroga o espera a "EL CLIENTE" sin consentimiento de "LOS FIADORES".
	 
	 
	1.
	An extension is granted to or awaits the CUSTOMER without the GUARANTORS’ consent.

	 
	 
	 
	 
	 
	 
	 

	 
	2.
	"BANCOMER" haga quita a "EL CLIENTE" y/o Ia obligación de pago del "CREDITO" quede sujeta a nuevas gravámenes o condiciones.
	 
	 
	2.
	BANCOMER may agree to reduce the amount that the CUSTOMER owes and/or the LOAN payment obligation is reduced subject to new liens or conditions.

	 
	 
	 
	 
	 
	 
	 

	 
	3.
	"LOS FIADORES'' no puedan subrogarse en los derechos o privilegios de "BANCOMER", por cualquier causa.
	 
	 
	3.
	The GUARANTORS may not subrogate BANCOMER's rights or privileges for any reason.

	 
	 
	 
	 
	 
	 
	 

	 
	4.
	AI volverse exigible Ia deuda derivada del "CREDITO", "LOS FIADORES" pidan a "BANCOMER" que éste último promueva judicialmente dentro de un mes siguiente al del incumplimiento de dicha obligación y "BANCOMER" no ejercite sus derechos dentro del plaza mencionado, o si ya iniciado el juicio dejare "BANCOMER" de promover sin causa justificada par más de tres meses.
	 
	 
	4.
	When the debt derived from the LOAN is called due, the GUARANTORS ask BANCOMER to go to court within the month after the month when the obligation was breached and BANCOMER will not exercise its rights within the aforementioned period of time or, if a lawsuit has already been filed, BANCOMER stops the lawsuit without just cause for more than three months.

	 
	 
	 
	 
	 
	 
	 

	 
	Como consecuencia del pacto de subsistencia de Ia fianza que antes se contienen, "LOS FIADORES" renuncian al contenido de los artículos 2845 (DOS MIL OCHOCIENTOS CUARENTA Y CINCO), 2846 (DOS MIL OCHOCIENTOS CUARENTA Y SEIS), 2847 (DOS MIL OCHOCIENTOS CUARENTA Y SIETE), 2848 (DOS MIL OCHOCIENTOS CUARENTA Y OCHO) y 2849 (DOS MIL OCHOCIENTOS CUARENTA Y NUEVE) del Código Civil Federal y las disposiciones correlativas de los Códigos del Distrito Federal y de los Estados de Ia República Mexicana.
	 
	 
	As a consequence of the agreement to maintain the bond as mentioned previously, the GUARANTORS hereby waive the contents of Articles 2845, 2846, 2847, and 2849 of the Federal Civil Code and the corollary provisions in the Codes of the Federal District and the States of the Mexican Republic.

	 
	 
	 
	 
	 
	 
	 

	 
	TRIGESIMA.- DOMICILIOS. "LAS PARTES" señalan como domicilio para todos los efectos de este contrato, los siguientes:
	 
	 
	30. DOMICILES. For all legal intents and purposes, the parties hereto indicate the following as their domiciles:

	 
	 
	 
	 
	 
	 
	 

	 
	"BANCOMER" el ubicado en:  Avenida Universidad 1200 (MIL DOSCIENTOS), Colonia Xoco, México, D.F., C.P. 03339.
	 
	 
	BANCOMER is located at:  Avenida Universidad 1200 (MIL DOSCIENTOS), Colonia Xoco, México, D.F., C.P. 03339.

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" el ubicado en:  Privada de los Industriales número 115, Jurica, Código Postal 76100 en Querétaro, Querétaro.
	 
	 
	THE CUSTOMER is located at:  Privada de los Industriales número 115, Jurica, Zip Code 76100, Querétaro, Querétaro.

	 
	 
	 
	 
	 
	 
	 

	 
	"LOS FIADORES" en: Privada de los Industriales número 115, Jurica, Código Postal 76100 en Querétaro, Querétaro.
	 
	 
	THE GUARANTORS:  Privada  de los Industriales número 115, Jurica,  Zip Code 76100, Querétaro, Querétaro.

	 
	 
	 
	 
	 
	 
	 

	 
	"EL CLIENTE" y/o "LOS FIADORES" deberán informar a "BANCOMER" del cambio en su domicilio, con cuando menos 10 (DIEZ) días hábiles de anticipación. En caso de no hacerlo, todos los avisos,  notificaciones y demás diligencias judiciales o  extrajudiciales que se hagan en el domicilio indicado por las mismas, en esta cláusula, surtirán plenamente sus efectos.
	 
	 
	The CUSTOMER and/or the GUARANTORS must report any change of domicile to BANCOMER at least TEN (10) business days in advance. If the change in domicile is not reported, all the reports, notifications, and other legal or other communications that are served at the domiciles indicated by the CUSTOMER and/or the GUARANTORS in this clause will be held to have been legally served.

	 
	 
	 
	 
	 
	 
	 

/s/ JFZC
/s/ HAGM
/s/ HRDM

19

	
							
	 
	TRIGESIMA PRIMERA.- IDIOMA. El presente contrato se suscribe en versiones español e inglés.  En case de cualquier conflicto entre "LAS PARTES" o en caso de duda en cuanto a Ia correcta interpretación de este contrato, Ia versión en español prevalecerá y Ia versión en inglés será considerada   para propósitos informativos entre las partes.
	 
	 
	31. LANGUAGE. This contract is to be signed in Spanish and English versions.  If there is any conflict between the PARTIES or if there is any question about how to correctly interpret this contract, the version in Spanish will prevail over the version in English and the version in English will be held to be solely for informational purposes for the PARTIES.

	 
	 
	 
	 
	 
	 
	 

	 
	TRIGESIMA  SEGUNDA.- TITULO  EJECUTIVO.  El presente contrato conjuntamente con el estado de cuenta certificado por el Contador de "BANCOMER" será título ejecutivo, de conformidad con lo dispuesto por el Artículo 68 (SESENTA Y OCHO) de Ia Ley de lnstítuciones de Crédito.
	 
	 
	32. ENFORCEMENT. This contract, along with the account statement certified by the BANCOMER Accountant will be enforceable based on the provisions in Article 68 of the Law on Credit Institutions.

	 
	 
	 
	 
	 
	 
	 

	 
	TRIGESIMA TERCERA.- LEYES Y TRIBUNALES. Este contrato se rige de acuerdo a las Leyes de los Estados Unidos Mexicanos, particularmente por lo previsto en Ia Ley de lnstítuciones de Crédito, Ia Ley General de Títulos y Operaciones de Crédito y sus  Leyes Supletorias.
	 
	 
	33. LAWS AND COURTS OF LAW. This contract is governed by the Laws of the United Mexican States, particularly the provisions in the Law on Credit Institutions, the General Credit Operations and Securities Law, and any supplementary laws.

	 
	 
	 
	 
	 
	 
	 

	 
	Asimismo para todo lo relativo a Ia interpretación, ejecución y cumplimiento del presente contrato, "LAS PARTES" se someten a Ia jurisdicción de los Tribunales competentes de Ia Ciudad de México, Distrito Federal, renunciando expresamente al fuero de su domicilio presente o futuro.
	 
	 
	Likewise, for anything related to interpreting, executing and complying with this contract, the PARTIES submit themselves to the jurisdiction of the competent courts of law in Mexico City, the Federal District, and hereby expressly waive any other venue related to their present or future domicile.

	 
	 
	 
	 
	 
	 
	 

	El presente contrato se firma por "LAS PARTES" en  Ia Ciudad de Querétaro, Querétaro, el día 27 (veintisiete) de septiembre del año 2016 (dos mil dieceséis).
	 
	IN WITNESS WHEREOF, the PARTIES to this instrument have set their hands hereunto in the City of Querétaro, Querétaro, on the 27 day of September, 2016.

	 
	 
	 
	 
	 
	 
	 

	"BANCOMER"
BBVA BANCOMER, SOCIEDAD ANONIMA,
INSTITUCION DE BANCA MULTIPLE, GRUPO
FINANCIERO BBVA BANCOMER
	 
	"BANCOMER"
BBVA BANCOMER, SOCIEDAD ANONIMA,
INSTITUCION DE BANCA MULTIPLE, GRUPO
FINANCIERO BBVA BANCOMER

	 
	 
	 
	 
	 
	 
	 

	/s/ José Francisco Zuñiga Chavez
/s/ Húgo Alejandro Gutiérrez Martínez
	 
	/s/ José Francisco Zuñiga Chavez
/s/ Húgo Alejandro Gutiérrez Martínez

	 
	 
	 
	 
	 
	 
	 

	REPRESENTADO POR LOS SENORES JOSÉ FRANCISCO ZUÑIGA CHAVEZ  Y HÚGO ALEJANDRO GUTIÉRREZ MARTÍNEZ.
	 
	REPRESENTED BY MESSRS. JOSÉ FRANCISCO ZUÑIGA CHAVEZ  Y HÚGO ALEJANDRO GUTIÉRREZ MARTÍNEZ .

	 
	 
	 
	 
	 
	 
	 

	“EL CLIENTE”
	 
	THE CUSTOMER

	 
	 
	 
	 
	 
	 
	 

	/s/ Héctor René Durán Mantilla
	 
	/s/ Héctor René Durán Mantilla

	 
	 
	 
	 
	 
	 
	 

	"AVICOLA DE MEXICO", SOCIEDAD ANONIMA DE CAPITAL VARIABLE, REPRESENTADO POR EL SEÑOR HÉCTOR RENÉ DURÁN MANTILLA.
	 
	"AVICOLA DE MEXICO", SOCIEDAD ANONIMA DE CAPITAL VARIABLE, REPRESENTED BY MR. HÉCTOR RENÉ DURÁN MANTILLA.

20

	
							
	“LOS FIADORES”
	 
	THE GUARANTORS

	 
	 
	 
	 
	 
	 
	 

	/s/ Héctor René Durán Mantilla
	 
	/s/ Héctor René Durán Mantilla

	 
	 
	 
	 
	 
	 
	 

	"PILGRIM’S PRIDE", SOCIEDAD DE RESPONSIBILIDAD LIMITIDA DE CAPITAL VARIABLE, REPRESENTADA POR EL SEÑOR HÉCTOR RENÉ DURÁN MANTILLA.
	 
	"PILGRIM’S PRIDE", SOCIEDAD DE RESPONSIBILIDAD LIMITIDA DE CAPITAL VARIABLE, REPRESENTED BY MR. HÉCTOR RENÉ DURÁN MANTILLA.

	 
	 
	 
	 
	 
	 
	 

	/s/ Héctor René Durán Mantilla
	 
	/s/ Héctor René Durán Mantilla

	 
	 
	 
	 
	 
	 
	 

	"COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSIBILIDAD LIMITIDA DE CAPITAL VARIABLE, REPRESENTADA POR EL SEÑOR HÉCTOR RENÉ DURÁN MANTILLA.
	 
	"COMERCIALIZADORA DE CARNES DE MEXICO", SOCIEDAD DE RESPONSIBILIDAD LIMITIDA DE CAPITAL VARIABLE, REPRESENTED BY HÉCTOR RENÉ DURÁN MANTILLA.

	 
	 
	 
	 
	 
	 
	 

	ESTA HOJA DE FIRMAS CORRESPONDE AL CONTRATO DE APERTURA DE CREDITO EN CUENTA CORRIENTE CELEBRADO ENTRE BBVA BANCOMER, SOCIEDAD ANONIMA, INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BBVA  BANCOMER, COMO ACREDITANTE, Y AVICOLA PILGRIM'S PRIDE DE MEXICO, SOCIEDAD ANONIMA DE CAPITAL VARIABLE, COMO ACREDITADA, CON FECHA 27 DE SEPTIMEBRE DEL AÑO 2016.
	 
	THIS SIGNATURE PAGE TO APPLICABLE CHECKING ACCOUNT LOAN OPENING CONTRACT BETWEEN BBVA BANCOMER, SOCIEDAD ANONIMA, INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BBVA BANCOMER, AS THE LENDER, AND AVICOLA PILGRIM'S PRIDE DE MEXICO, SOCIEDAD ANONIMA DE CAPITAL VARIABLE, AS THE BORROWER, ON THE 27 DAY OF SEPTEMBER, 2016.

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