Document:

Credit Agreement

 Exhibit 10.1 

EXECUTION COPY 

U.S. $750,000,000 

CREDIT AGREEMENT 

Dated as of August 30, 2004 

among 
 THE GAP,
INC. 
 as Borrower, 

THE SUBSIDIARIES OF THE BORROWER NAMED HEREIN, 

as Subsidiary Borrowers, 

THE SUBSIDIARIES OF THE BORROWER NAMED HEREIN, 

as LC Subsidiaries, 

THE BANKS AND FINANCIAL INSTITUTIONS NAMED HEREIN, 

as Lenders, 

THE BANKS NAMED HEREIN 

as Issuing Banks, 

CITIGROUP GLOBAL MARKETS INC., 

and 
 BANC OF
AMERICA SECURITIES LLC 
 as Joint Lead Arrangers, 

BANK OF AMERICA, N.A., 

HSBC BANK USA, NATIONAL ASSOCIATION 

and 
 JPMORGAN
CHASE BANK 
 as Co-Syndication Agents, 

and 
 CITICORP
USA, INC., 
 as Agent 

for the Issuing Banks and the Lenders from time to time party hereto 

 TABLE OF CONTENTS 

 

			
	 	  	PAGE
	
	ARTICLE I
	DEFINITIONS AND ACCOUNTING TERMS
		
	 SECTION 1.01 Certain Defined Terms
	  	1
		
	 SECTION 1.02 Computation of Time Periods
	  	18
		
	 SECTION 1.03 Accounting Terms
	  	18
	
	ARTICLE II
	AMOUNTS AND TERMS OF THE ADVANCES
		
	 SECTION 2.01 The Advances
	  	19
		
	 SECTION 2.02 Making the Advances
	  	19
		
	 SECTION 2.03 Fees
	  	22
		
	 SECTION 2.04 Reduction and Increase of the Commitments; Reduction and Increase of the Swing Line Commitment; Additional Issuing
Banks
	  	23
		
	 SECTION 2.05 Repayment of Advances
	  	26
		
	 SECTION 2.06 Interest on Advances
	  	26
		
	 SECTION 2.07 Additional Interest on Eurodollar Rate Advances
	  	27
		
	 SECTION 2.08 Interest Rate Determination
	  	27
		
	 SECTION 2.09 Voluntary Conversion of Advances
	  	29
		
	 SECTION 2.10 Prepayments of Advances
	  	29
		
	 SECTION 2.11 Increased Costs
	  	29
		
	 SECTION 2.12 Illegality
	  	30
		
	 SECTION 2.13 Subsidiary Borrowers
	  	31

 ARTICLE III 

AMOUNT AND TERMS OF LETTERS OF CREDIT AND PARTICIPATIONS THEREIN 

 

			
	 SECTION 3.01 Letters of Credit
	  	31
		
	 SECTION 3.02 Limitation on the Issuance of Letters of Credit Denominated in Alternative Currencies
	  	32
		
	 SECTION 3.03 Issuing the Letters of Credit
	  	32
		
	 SECTION 3.04 Reimbursement Obligations
	  	33
		
	 SECTION 3.05 Participations Purchased by the Lenders
	  	33
		
	 SECTION 3.06 Letter of Credit Fees
	  	34
		
	 SECTION 3.07 Indemnification; Nature of the Issuing Banks’ Duties
	  	35
		
	 SECTION 3.08 Increased Costs
	  	36
		
	 SECTION 3.09 Uniform Customs and Practice
	  	37
		
	 SECTION 3.10 Reductions and Increases in Issuing Commitment
	  	37
		
	 SECTION 3.11 Existing Letters of Credit
	  	38
		
	 SECTION 3.12 Currency Provisions
	  	38
		
	 SECTION 3.13 Dollar Payment Obligation
	  	39
		
	 SECTION 3.14 Applications; Survival of Provisions; Cash Collateral
	  	40
		
	 SECTION 3.15 LC Subsidiaries
	  	40
	
	ARTICLE IV
	PAYMENTS, TAXES, EXTENSIONS, ETC.
		
	 SECTION 4.01 Payments and Computations
	  	40
		
	 SECTION 4.02 Taxes
	  	42
		
	 SECTION 4.03 Sharing of Payments, Etc.
	  	46
		
	 SECTION 4.04 Evidence of Debt/Borrowings
	  	46
		
	 SECTION 4.05 Borrower Guaranty
	  	47

			
	ARTICLE V
	CONDITIONS OF LENDING
		
	 SECTION 5.01 Conditions Precedent to Effectiveness of this Agreement
	  	49
		
	 SECTION 5.02 Conditions Precedent to Each Advance/Issuance
	  	51
	
	ARTICLE VI
	REPRESENTATIONS AND WARRANTIES
		
	 SECTION 6.01 Representations and Warranties of the Borrower
	  	51
	
	ARTICLE VII
	COVENANTS OF THE BORROWER
		
	 SECTION 7.01 Affirmative Covenants
	  	54
		
	 SECTION 7.02 Negative Covenants
	  	55
		
	 SECTION 7.03 Financial Covenants
	  	58
		
	 SECTION 7.04 Reporting Requirements
	  	58
	
	ARTICLE VIII
	EVENTS OF DEFAULT
		
	 SECTION 8.01 Events of Default
	  	60
	
	ARTICLE IX
	THE AGENT
		
	 SECTION 9.01 Authorization and Action
	  	62
		
	 SECTION 9.02 Agent’s Reliance, Etc.
	  	63
		
	 SECTION 9.03 CUSA, Citibank and Affiliates
	  	63
		
	 SECTION 9.04 Lender Credit Decision
	  	64

			
	 SECTION 9.05 Indemnification
	  	64
		
	 SECTION 9.06 Successor Agent
	  	65
		
	 SECTION 9.07 Co-Syndication Agents and Joint Lead Arrangers
	  	65
	
	ARTICLE X
	MISCELLANEOUS
		
	 SECTION 10.01 Amendments, Etc.
	  	65
		
	 SECTION 10.02 Notices, Etc.
	  	66
		
	 SECTION 10.03 No Waiver; Remedies
	  	67
		
	 SECTION 10.04 Costs and Expenses
	  	68
		
	 SECTION 10.05 Right of Set-off
	  	69
		
	 SECTION 10.06 Binding Effect
	  	70
		
	 SECTION 10.07 Assignments and Participations
	  	70
		
	 SECTION 10.08 Severability of Provisions
	  	73
		
	 SECTION 10.09 Independence of Provisions
	  	73
		
	 SECTION 10.10 Confidentiality
	  	73
		
	 SECTION 10.11 Headings
	  	74
		
	 SECTION 10.12 Entire Agreement
	  	74
		
	 SECTION 10.13 Execution in Counterparts
	  	74
		
	 SECTION 10.14 Consent to Jurisdiction
	  	74
		
	 SECTION 10.15 GOVERNING LAW
	  	74
		
	 SECTION 10.16 WAIVER OF JURY TRIAL
	  	74

					
	SCHEDULES AND EXHIBITS
			
	SCHEDULES	 		 	
			
	Schedule I-A	 	-	 	Commitment Amounts
	Schedule I-B	 	-	 	List of Applicable Lending Offices
	Schedule II	 	-	 	Existing Liens
	Schedule III	 	-	 	Change of Control
	Schedule IV	 	-	 	Outstanding Balance of Existing Letters of Credit
	Schedule V	 	-	 	LC Subsidiaries
	Schedule VI	 	-	 	Subsidiary Borrowers
	Schedule VII	 	-	 	ERISA Matters
	Schedule VIII	 	-	 	Environmental Matters
	Schedule IX	 	-	 	Existing Debt
			
	EXHIBITS	 		 	
			
	Exhibit A	 	-	 	Notice of Borrowing
	Exhibit B	 	-	 	Form of Promissory Note
	Exhibit C	 	-	 	Form of Assignment and Acceptance
	Exhibit D-1	 	-	 	Form of Opinion of In-House Counsel to the Loan Parties
	Exhibit D-2	 	-	 	Form of Corporate Opinion of Special New York Counsel to the Loan Parties
	Exhibit E	 	-	 	Form of Opinion of Special New York Counsel to the Agent
	Exhibit F	 	-	 	Form of Assumption Agreement

 CREDIT AGREEMENT, dated as of August 30, 2004 (this
“Agreement”), among The Gap, Inc., a Delaware corporation (the “Borrower”), the LC Subsidiaries (as hereinafter defined), the Subsidiary Borrowers (as hereinafter defined), the banks and financial institutions (the
“Lenders”) listed on the signature pages hereof, the Issuing Banks (as hereinafter defined), Citigroup Global Markets Inc. (“CGMI”) and Banc of America Securities LLC as joint lead arrangers and joint book managers
(the “Joint Lead Arrangers”), Bank of America, N.A., HSBC Bank USA, National Association and JPMorgan Chase Bank as co-syndication agents (the “Co-Syndication Agents”), and Citicorp USA, Inc.
(“CUSA”), as agent (the “Agent”) for the Lenders and the Issuing Banks hereunder. 

PRELIMINARY STATEMENTS: 

(1) The Borrower, certain of its subsidiaries, certain banks and financial institutions, and the Agent entered into a
Credit Agreement dated as of June 25, 2003 (the “Existing Credit Agreement”). 
 (2) The
Borrower, the LC Subsidiaries, the Subsidiary Borrowers, the Lenders, the Issuing Banks, the Joint Lead Arrangers, the Co-Syndication Agents and the Agent desire to enter into this Agreement to replace the Existing Credit Agreement and provide other
financing facilities to the Borrower, the LC Subsidiaries and the Subsidiary Borrowers as set forth below. 
 NOW THEREFORE, the
Borrower, the LC Subsidiaries, the Subsidiary Borrowers, the Lenders, the Issuing Banks, the Joint Lead Arrangers, the Co-Syndication Agents and the Agent agree as follows: 

ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 

SECTION 1.01 Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined): 

“Advance” means an advance by Lender to the Borrower as part of a Borrowing and refers to a Base Rate
Advance or a Eurodollar Rate Advance, each of which shall be a “Type” of Advance; and means a Swing Line Advance by a Swing Line Lender to a Subsidiary Borrower as the context may require. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is
controlled by, or is under common control with, such Person. 
 “Alternative Currency” means any
lawful currency other than Dollars which is freely transferable and convertible into Dollars and which an Issuing Bank or Swing Line Lender can obtain in the ordinary course of its business. 

 “Applicable Facility Fee” means, as of any date a
percentage per annum determined by reference to the applicable Performance Level in effect on such date as set forth below: 
  

																			
	 PERFORMANCE LEVEL
	  	LEVEL 1	 	 	LEVEL 2	 	 	LEVEL 3	 	 	LEVEL 4	 	 	LEVEL 5	 	 	LEVEL 6	 
	 Applicable Facility Fee
	  	.100	% 	 	.125	% 	 	.150	% 	 	.200	% 	 	.250	% 	 	.375	% 

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending
Office in the case of a Base Rate Advance, and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance. 

“Applicable Letter of Credit Fee” means as of any date, a percentage per annum determined by reference to
the applicable Performance Level in effect on such date as set forth below: 
  

																			
	 PERFORMANCE LEVEL
	  	LEVEL 1	 	 	LEVEL 2	 	 	LEVEL 3	 	 	LEVEL 4	 	 	LEVEL 5	 	 	LEVEL 6	 
	 Applicable Letter of Credit Fee
	  	.22500	% 	 	.28125	% 	 	.33750	% 	 	.45000	% 	 	.56250	% 	 	.67500	% 

“Applicable Margin” means as of any date, a percentage per annum determined by reference to the
applicable Performance Level in effect on such date as set forth below: 
  

																			
	 PERFORMANCE LEVEL
	  	LEVEL 1	 	 	LEVEL 2	 	 	LEVEL 3	 	 	LEVEL 4	 	 	LEVEL 5	 	 	LEVEL 6	 
	 Base Rate Applicable Margin
	  	.000	% 	 	.000	% 	 	.000	% 	 	.000	% 	 	.000	% 	 	.125	% 
	 Eurodollar Rate Applicable Margin
	  	.275	% 	 	.375	% 	 	.475	% 	 	.550	% 	 	.750	% 	 	.875	% 

“Applicable Utilization Fee” means, as of any date a percentage per annum determined by reference to the
applicable Performance Level in effect on such date as set forth below: 
  

																			
	 PERFORMANCE LEVEL
	  	LEVEL 1	 	 	LEVEL 2	 	 	LEVEL 3	 	 	LEVEL 4	 	 	LEVEL 5	 	 	LEVEL 6	 
	 Applicable Utilization Fee
	  	.125	% 	 	.125	% 	 	.125	% 	 	.250	% 	 	.250	% 	 	.250	% 

“Assignment and Acceptance” means an assignment and acceptance entered into by a Lender and an Eligible
Assignee, and accepted by the Agent (if such acceptance is required by this Agreement), in substantially the form of Exhibit C. 

“Assuming Lender” means an Eligible Assignee acceptable to the Agent and each Issuing Bank and not
previously a Lender that becomes a Lender hereunder pursuant to Section 2.04(c) and which has a Commitment of not less than $10,000,000. 
  

 2 

 “Assumption Agreement” means an agreement, substantially in
the form of Exhibit F, by which an Eligible Assignee agrees to become a Lender hereunder pursuant to Section 2.04(c), agreeing to be bound by all obligations of a Lender hereunder. 

“Base Rate” means, for any period, a fluctuating interest rate per annum as shall be in effect from time
to time which rate per annum shall at all times be equal to the highest of: 
 (a) the rate of interest
announced publicly by Citibank in New York, New York, from time to time, as Citibank’s base rate; 

(b) 1/2% per annum above the latest three-week moving average of secondary market morning offering rates in the
United States for three-month certificates of deposit of major United States money market banks, such three-week moving average being determined weekly on each Monday (or, if any such date is not a Business Day, on the next succeeding Business Day)
for the three-week period ending on the previous Friday by the Agent on the basis of such rates reported by certificate of deposit dealers to and published by the Federal Reserve Bank of New York or, if such publication shall be suspended or
terminated, on the basis of quotations for such rates received by the Agent from three New York certificate of deposit dealers of recognized standing selected by the Agent, in either case adjusted to the nearest 1/4 of one percent or, if there is no
nearest 1/4 of one percent, to the next higher 1/4 of one percent; and 
 (c) 1/2% per annum above the
Federal Funds Rate. 
 “Base Rate Advance” means an Advance which bears interest as provided in
Section 2.06(a). 
 “Borrowing” means a borrowing, consisting of simultaneous Advances of
the same Type made by each of the Lenders pursuant to Section 2.01(a). 
 “Business Day”
means a day of the year on which banks are not required or authorized to close in New York City or San Francisco, California and a day on which wire transfers may be effectuated among member banks of the Federal Reserve System through use of the
fedwire funds transfer system and (i) if the applicable Business Day relates to any Eurodollar Rate Advances, a day on which dealings are carried on in the London interbank market and (ii) if the applicable Business Day relates to any
Swing Line Advance or Letter of Credit denominated in an Alternative Currency, a day on which commercial banks are open for business in the country of issue of such Alternative Currency and on which dealings in such Alternative Currency are carried
on by such commercial banks in such country of issue (if such Alternative Currency is other than the Euro) or if such Alternative Currency is the Euro, a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET)
System is in operation. 
 “Capital Lease” of any Person means any lease of any property
(whether real, personal or mixed) by such Person as lessee, which lease should, in accordance with 
  

 3 

 
GAAP, be required to be accounted for as a capital lease on the balance sheet of such Person. 

“Capital Lease Obligations” means the obligations of any Person to pay rent or other amounts under a
Capital Lease, the amount of which is required to be capitalized on the balance sheet of such Person in accordance with GAAP. 

“CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as
amended (42 U.S.C. § 9601 et seq.), and any regulations promulgated thereunder. 
 “Change of
Control” means the occurrence, after the date of this Agreement, of (i) any Person or two or more Persons acting in concert acquiring beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission
under the Securities Exchange Act of 1934, as amended), directly or indirectly, of securities of the Borrower (or other securities convertible into such securities) representing 50% or more of the combined voting power of all securities of the
Borrower entitled to vote in the election of directors; or (ii) during any period of up to 24 consecutive months, commencing before or after the date of this Agreement, individuals who at the beginning of such 24-month period were directors of
the Borrower ceasing for any reason to constitute a majority of the Board of Directors of the Borrower unless the Persons replacing such individuals were nominated by the Board of Directors of the Borrower; or (iii) any Person or two or more
Persons acting in concert acquiring by contract or otherwise, or entering into a contract or arrangement which upon consummation will result in its or their acquisition of, control over securities of the Borrower (or other securities convertible
into such securities) representing 50% or more of the combined voting power of all securities of the Borrower entitled to vote in the election of directors; provided, that, the Person or group of Persons referred to in clauses
(i) and (iii) of this definition of Change of Control shall not include any Person listed on Schedule III or any group of Persons in which one or more of the Persons listed on Schedule III are members. 

“Citibank” means Citibank, N.A. 

“Commitment” means, as to each Lender, the amount set forth opposite such Lender’s name on Schedule
I-A under the caption “Commitment” or, if such Lender has entered into one or more Assignment and Acceptances, the amount set forth for such Lender with respect thereto in the Register maintained by the Agent pursuant to
Section 10.07, in each case as such amount may be reduced or increased pursuant to Section 2.04. 

“Commitment Percentage” means, with respect to each Lender, the percentage which the then existing
Commitment of such Lender is of the Commitments of all Lenders; provided, however, that with respect to Letters of Credit which expire after the Termination Date has occurred, the Commitment Percentage of each Lender shall be the
percentage which Lender’s Commitment immediately prior to the Termination Date is of the Commitment of all Lenders immediately prior to the Termination Date. 

 

 4 

 “Confidential Information” means certain non-public,
confidential or proprietary information and material disclosed, from time to time, either orally, in writing, electronically or in some other form by the Borrower in connection with the Loan Documents. Confidential Information shall include, but not
be limited to non-public, confidential or proprietary information, trade secrets, know-how, inventions, techniques, processes, algorithms, software programs, documentation, screens, icons, schematics, software programs, source documents and other
MIS related information; contracts, customer lists, financial information, financial forecasts, sales and marketing plans and information and business plans, products and product designs; textile projections and results; ideas, designs and artwork
for all types of marketing, advertising, public relations and commerce (including ideas, designs and artwork related to the World Wide Web and any Web Site of the Borrower or any Subsidiary); textile designs; advertising, strategies, plans and
results; sourcing information; vendor lists, potential product labeling and marking ideas; all materials including, without limitation, documents, drawings, samples, sketches, designs, and any other information concerning, color palette and color
standards furnished to a Recipient by the Borrower or any Subsidiary; customer base(s); and other non-public information relating to the Borrower’s or any Subsidiary’s business. 

“Consolidated” and any derivative thereof each means, with reference to the accounts or financial reports
of any Person, the consolidated accounts or financial reports of such Person and each Subsidiary of such Person determined in accordance with GAAP, including principles of consolidation, consistent with those applied in the preparation of the
Consolidated financial statements of the Borrower referred to in Section 6.01(f). 
 “Constitutive
Documents” means, with respect to any Person, the certificate of incorporation or registration (including, if applicable, certificate of change of name), articles of incorporation or association, memorandum of association, charter, bylaws,
certificate of limited partnership, partnership agreement, trust agreement, joint venture agreement, certificate of formation, articles of organization, limited liability company operating or members agreement, joint venture agreement or one or more
similar agreements, instruments or documents constituting the organization or formation of such Person. 

“Convert,” “Conversion” and “Converted” each refers to a conversion of
Advances of one Type into Advances of another Type pursuant to Section 2.08 or 2.09. 
 “Credit
Extension” means each of the following: (a) an Advance made or to be made to the Borrower or any Subsidiary Borrower; and (b) with respect to any Letter of Credit, any issuance, extension of the expiry date, or increase in the
amount thereof, for the account of the Borrower or any LC Subsidiary. 
 “Debt” of any Person
means, without duplication, (i) all indebtedness of such Person for borrowed money or for the deferred purchase price (excluding any deferred purchase price that constitutes an account payable incurred in the ordinary course of business) of
property or services, (ii) all obligations of such Person in connection with any agreement to purchase, redeem, exchange, convert or otherwise acquire for value any 

 

 5 

 
capital stock of such Person or to purchase, redeem or acquire for value any warrants, rights or options to acquire such capital stock, now or hereafter outstanding, (iii) all obligations of
such Person evidenced by bonds, notes, debentures, convertible debentures or other similar instruments, (iv) all indebtedness created or arising under any conditional sale or other title retention agreement (other than under any such agreement
which constitutes or creates an account payable incurred in the ordinary course of business) with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default,
acceleration, or termination are limited to repossession or sale of such property), (v) all Capital Lease Obligations, (vi) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to
purchase or acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (v) above, (vii) all Debt referred to in clause (i), (ii), (iii),
(iv), (v), or (vi) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any lien, security interest or other charge or encumbrance upon or in property (including, without
limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt and (viii) all mandatorily redeemable preferred stock of such Person, valued at the applicable
redemption price, plus accrued and unpaid dividends payable in respect of such redeemable preferred stock. 

“Default” means an event which would constitute an Event of Default but for the requirement that notice
be given or time elapse, or both. 
 “Dollars,” “dollars” and the sign “$”
each means lawful money of the United States. 
 “Domestic Lending Office” means, with respect
to any Lender, the office of such Lender specified as its “Domestic Lending Office” opposite its name on Schedule I-B or in the Assignment and Acceptance pursuant to which it became Lender, or such other office of such Lender as such
Lender may from time to time specify to the Borrower and the Agent. 
 “Domestic Subsidiary”
means, at any time, any of the direct or indirect Subsidiaries of the Borrower that is incorporated or organized under the laws of any state of the United States of America or the District of Columbia. 

“EBITDA” means, for any period, Net Income plus, to the extent deducted in determining such Net Income,
the sum of (a) Interest Expense, (b) income tax expense, (c) depreciation expense and (d) amortization expense, all determined on a Consolidated basis for the Borrower and its Subsidiaries in accordance with GAAP. 

“Effective Date” has the meaning specified in Section 5.01. 

“Eligible Assignee” means (i) a commercial bank organized under the laws of the United States, or
any State thereof, and having a combined capital and surplus of at least $100,000,000; (ii) a commercial bank organized under the laws of any other country 

 

 6 

 
which is a member of the OECD, or a political subdivision of any such country, and having a combined capital and surplus of at least $100,000,000; provided, that, such bank is
acting through a branch or agency located in the United States; (iii) a Person that is primarily engaged in the business of commercial banking and that is (a) a Subsidiary of a Lender, (b) a Subsidiary of a Person of which a Lender is
a Subsidiary, or (c) a Person of which a Lender is a Subsidiary; (iv) any Lender or Affiliate of a Lender; (v) any other entity which is an “accredited investor” (as defined in Regulation D under the Securities Act of 1933,
as amended) which extends credit or buys loans as one of its businesses, including but not limited to, insurance companies, mutual funds and lease financing companies; and (vi) any other Person acceptable to the Issuing Banks and the Agent and,
provided no Event of Default is continuing, the Borrower. No Loan Party or any Affiliate thereof shall be an Eligible Assignee. 

“Environmental Law” means any Requirement of Law relating to (a) the generation, use, handling,
transportation, treatment, storage, disposal, release or discharge of Hazardous Substances, (b) pollution or the protection of the environment, health, safety or natural resources or (c) occupational safety and health, industrial hygiene,
land use or the protection of human, plant or animal health or welfare, including, without limitation, CERCLA, in each case as amended from time to time, and including the regulations promulgated and the rulings issued from time to time thereunder.

 “ERISA Affiliate” means any trade or business (whether or not incorporated) which is a member
of a controlled group of which the Borrower or any Subsidiary of the Borrower is a member or which is under common control with the Borrower or any Subsidiary of the Borrower within the meaning of Section 414 of the Internal Revenue Code of
1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the
regulations promulgated and rulings issued thereunder. 
 “ERISA Event” means a reportable event
with respect to a Plan within the meaning of §4043 of ERISA. 
 “Eurocurrency Liabilities”
has the meaning assigned to that term in Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Eurodollar Lending Office” means, with respect to any Lender, the office of such Lender specified as its
“Eurodollar Lending Office” opposite its name on Schedule I-B or in the Assignment and Acceptance pursuant to which it became Lender (or, if no such office is specified, its Domestic Lending Office), or such other office of such Lender as
such Lender may from time to time specify to the Borrower and the Agent. 
 “Eurodollar Rate”
means, for any Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing, an interest rate per annum equal to (i) the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) at which

  

 7 

 
deposits in U.S. dollars appear on page 3750 (or any successor page thereto) of the Dow Jones Telerate Screen two Business Days before the first day of such Interest Period and for a term
comparable to such Interest Period, or (ii) if such rate does not so appear on the Dow Jones Telerate Screen on any date of determination, the rate per annum (rounded upwards, if necessary, to the nearest 1/16 of 1%) at which deposits in U.S.
dollars appear on the Reuters Screen LIBO Page two Business Days before the first day of such Interest Period and for a term comparable to such Interest Period, provided, however, that if the Reuters Screen LIBO Page is being used to
determine the Eurodollar Rate at any date of determination and more than one rate is specified thereon as the London interbank offered rate for deposits in U.S. dollars, the applicable rate shall be the average of all such rates (rounded upward, if
necessary, to the nearest whole multiple of 1/16 of 1% per annum), or (iii) if such rate does not so appear on either the Dow Jones Telerate Screen or Reuters Screen LIBO Page on any date of determination, then, the average (rounded upward
to the nearest whole multiple of 1/16 of 1% per annum) of the rates per annum at which deposits in Dollars are offered by the principal office of each of the Reference Banks in London, England, to prime banks in the London interbank market at
11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to such Reference Bank’s Eurodollar Rate Advance comprising part of such Borrowing and for a period equal to such Interest
Period. In such circumstances, the Eurodollar Rate for the Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing shall be determined by the Agent on the basis of the applicable rates given to and received by the
Agent from the Reference Banks two Business Days prior to the first day of such Interest Period, subject, however, to the provisions of Section 2.08. 

“Eurodollar Rate Advance” means an Advance which bears interest as provided in Section 2.06(b).

 “Eurodollar Rate Reserve Percentage” of any Lender for any Interest Period for any Eurodollar
Rate Advance means the reserve percentage applicable during such Interest Period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such Interest Period during which any such
percentage shall be so applicable) under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency,
supplemental or other marginal reserve requirement) for such Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities having a term equal to such Interest Period. 

“Events of Default” has the meaning specified in Section 8.01. 

“Existing Credit Agreement” has the meaning specified in Preliminary Statement (1). 

“Existing Letter of Credit” has the meaning specified in Section 3.11. 

 

 8 

 “Federal Funds Rate” means, for any period, a fluctuating
interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or,
if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such
transactions received by the Agent from three Federal funds brokers of recognized standing selected by it. 

“Fiscal Quarter” means any quarter in any Fiscal Year, the duration of such quarter being defined in
accordance with GAAP applied consistently with that applied in the preparation of the Borrower’s financial statements referred to in Section 6.01 (f). 

“Fiscal Year” means a fiscal year of the Borrower and its Subsidiaries. 

“Fixed Charge Coverage Ratio” means, for any period, the ratio of (a) the amount equal to the sum of
(i) Consolidated EBITDA and (ii) Lease Expense in each case for the Borrower and its Subsidiaries for such period, to (b) the sum of (i) Consolidated Interest Expense and (ii) Lease Expense, in each case for the Borrower and
its Subsidiaries for such period. 
 “Foreign Subsidiary” means, at any time, any direct or
indirect Subsidiary of the Borrower that is not a Domestic Subsidiary. 
 “Funded Debt” means,
as of any date of determination, all indebtedness (including Capital Lease Obligations but excluding all accounts payable incurred in the ordinary course of business) of the Borrower and its Subsidiaries on a Consolidated basis that would (or would
be required to) appear as liabilities for long-term Debt, short-term Debt, current maturities of Debt, and other similar interest-bearing obligations on a Consolidated balance sheet of the Borrower and its Subsidiaries in accordance with GAAP.

 “GAAP” means generally accepted accounting principles in the United States set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a
significant segment of the accounting profession in the United States, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants) with the most recent audited consolidated financial
statements of the Borrower and its Subsidiaries delivered pursuant to Section 7.04. 
 “Governmental
Authority” means any nation or government, any state, province, city, municipal entity or other political subdivision thereof, and any governmental, executive, legislative, judicial, administrative or regulatory agency, department,
authority, instrumentality, commission, board or similar body, whether federal, state, provincial, territorial, local or foreign. 
  

 9 

 “Governmental Authorization” means any authorization,
approval, consent, franchise, license, covenant, order, ruling, permit, certification, exemption, notice, declaration or similar right, undertaking or other action of, to or by, or any filing, qualification or registration with, any Governmental
Authority. 
 “Hazardous Substance” means (i) any hazardous substance or toxic substance as
such terms are presently defined or used in § 101(14) of CERCLA (42 U.S.C. § 9601(14)), in 33 U.S.C. § 1251 et. seq. (Clean Water Act), or 15 U.S.C. § 2601 et. seq. (Toxic Substances Control Act) and (ii) as of
any date of determination, any additional substances or materials which are hereafter incorporated in or added to the definition of “hazardous substance” or “toxic substance” for purposes of CERCLA or any other applicable law.

 “Hedge Agreements” means (a) any and all interest rate swaps, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or
forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swaps, cross-currency rate swaps, currency options, spot contracts or any other
similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions
of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., the International Foreign Exchange
Master Agreement, or any other master agreement, including any such obligations or liabilities under any such agreement. 

“Information Memorandum” means the information memorandum dated August 2004 prepared in connection with
this Agreement. 
 “Interest Expense” of any Person for any period means the aggregate amount of
interest or fees paid, accrued or scheduled to be paid or accrued in respect of any Debt (including the interest portion of rentals under Capital Leases) and all but the principal component of payments in respect of conditional sales, equipment
trust or other title retention agreements paid, accrued or scheduled to be paid or accrued by such Person during such period, net of interest income, determined in accordance with GAAP. 

“Interest Period” means, for each Eurodollar Rate Advance comprising part of the same Borrowing, the
period commencing on the date of such Type of Advance or the date of the Conversion of any Advance into such Type of an Advance and ending on the last day of the period selected by the Borrower pursuant to the provisions below and, thereafter, each
subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by the Borrower pursuant to the provisions below. The duration of each such Interest Period shall be 1, 2, 3,
6, 9 or, if acceptable to the Majority Lenders, 12 months in the case of a Eurodollar Rate Advance, in each case as the Borrower may, upon notice received by the 

 

 10 

 
Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the first day of such Interest Period, select; provided, however, that: 

(i) the Borrower may not select any Interest Period which ends after the Termination Date; 

(ii) Interest Periods commencing on the same date for Advances comprising part of the same Borrowing shall be of the
same duration; 
 (iii) whenever the last day of any Interest Period would otherwise occur on a day other
than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, in the case of any Interest Period for a Eurodollar Rate Advance, that if such extension would cause the last day of
such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and 

(iv) the Borrower may request in a Notice of Borrowing an Interest Period of 12 months for a Eurodollar Rate Advance
and the Interest Period for such Eurodollar Rate Advance shall be 12 months, if, and only if, the Agent determines a Eurodollar Rate for the tenor of such Interest Period and the Majority Lenders do not notify the Agent pursuant to
Section 2.08(b) that the Eurodollar Rate for such Interest Period will not adequately reflect the cost to the Lenders of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest Period; if both of the preceding
conditions are not satisfied with respect to such requested 12 month Interest Period, the duration of the requested Interest Period shall be the alternative specified in the Notice of Borrowing, or, if no alternative Interest Period is selected, 6
months. 
 “Investment” has the meaning specified therefor in Section 7.02(c). 

“Issue” means, with respect to any Letter of Credit, either to issue, or to extend the expiry of, or to
renew, or to increase the amount of, such Letter of Credit, and the term “Issued” or “Issuance” shall have corresponding meanings. 

“Issuing Bank” means Citibank, Bank of America, N.A., HSBC Bank USA, National Association and JPMorgan
Chase Bank, or any other Lender which agrees to become, and is designated as an Issuing Bank under Section 2.04(d) or any Affiliate thereof as agreed to from time to time by the Borrower and such Issuing Bank, that may from time to time Issue
Letters of Credit for the account of the Borrower or for the account of any LC Subsidiary. 
 “Issuing
Commitment” means, as to any Issuing Bank, the amount set forth opposite such Issuing Bank’s name on Schedule I-A under the caption Issuing Commitment, as such amount may be reduced or increased pursuant to Section 2.04 or
3.10. 
 “L/C Collateral Account” has the meaning given in Section 8.01. 

 

 11 

 “LC Subsidiary” means, as of the date hereof, the
Subsidiaries of the Borrower listed on Schedule V and, after the date hereof, any other Subsidiary of the Borrower that may from time to time become a party hereto (with respect to Letters of Credit only) and in connection therewith such other
Subsidiary shall execute such documents as are reasonably requested by the Agent to evidence its agreement to be bound hereunder as an LC Subsidiary, and for whose account an Issuing Bank may from time to time Issue Letters of Credit. 

“Lease Expense” means, with respect to any Person, for any period for such Person and its subsidiaries on
a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP. 

“Lender Party” means any Lender and any Issuing Bank. 

“Lenders” means the Lenders listed on the signature pages hereof as Lenders and as Swing Line Lenders, as
the context may require, and each Eligible Assignee that shall become a party hereto pursuant to Section 10.07. 

“Letter of Credit” means either a Trade Letter of Credit or a Standby Letter of Credit which in either
case is in form satisfactory to the respective Issuing Bank, which is at any time Issued by such Issuing Bank pursuant to Article III, in each case as amended, supplemented or otherwise modified from time to time. 

“Letter of Credit Liability” means, as of any date of determination, all then existing liabilities of the
Borrower and the LC Subsidiaries to the Issuing Banks in respect of the Letters of Credit Issued for the Borrower’s account and for the account of the LC Subsidiaries, whether such liability is contingent or fixed, and shall, in each case,
consist of the sum of (i) the aggregate maximum amount (the determination of such maximum amount to assume compliance with all conditions for drawing) then available to be drawn under such Letters of Credit (including, without limitation,
amounts available under such Letters of Credit for which a draft has been presented but not yet honored) and (ii) the aggregate amount which has then been paid by, and not been reimbursed to, the Issuing Banks under such Letters of Credit. For
the purposes of determining the Letter of Credit Liability, the face amount of Letters of Credit outstanding in an Alternative Currency shall be expressed as the equivalent of such Alternative Currency in Dollars. 

“Leverage Ratio” means, as of any date of determination, the ratio of (a) the amount equal to
Consolidated Funded Debt for the most recently completed four consecutive Fiscal Quarters ending on or prior to such date, to (b) Consolidated EBITDA for the most recently completed four consecutive Fiscal Quarters ending on or prior to such
date, in each case for the Borrower and its Subsidiaries as of such date. 
 “Lien” means any
assignment, chattel mortgage, pledge or other security interest or any mortgage, deed of trust or other lien, or other charge or encumbrance, upon property or rights (including after-acquired property or rights), or any preferential

  

 12 

 
arrangement with respect to property or rights (including after-acquired property or rights) which has the practical effect of constituting a security interest or lien. 

“Loan Documents” means, collectively, this Agreement, any note delivered pursuant to
Section 2.02(g), and each application or agreement and other documents delivered in connection with Letters of Credit pursuant to Section 3.03, in each case as amended, supplemented or otherwise modified hereafter from time to time in
accordance with the terms thereof. 
 “Loan Parties” means, collectively, the Borrower, each of
the LC Subsidiaries and each of the Subsidiary Borrowers. 
 “Majority Lenders” means, at any
time, the Lenders having at least 51% of the aggregate amount of the Commitments, or, if the Commitments have been terminated or are otherwise no longer in effect, then the Lenders holding Credit Extensions representing at least 51% of the aggregate
amount of Credit Extensions. 
 “Margin Stock” has the meaning assigned to such term in
Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time. 

“Material Adverse Change” means any material adverse change in the business, condition (financial or
otherwise), results of operations, or prospects of the Borrower and its Subsidiaries, taken as a whole; provided, that a downgrade of the Borrower’s public debt ratings or a Negative Pronouncement shall not by itself be deemed to be a
material adverse change; provided, further, the occurrence or subsistence of any such material adverse change which has been disclosed (a) by the Borrower in any filing made with the Securities and Exchange Commission prior to the
date of this Agreement, (b) by the Borrower in a public announcement prior to the date of this Agreement, or (c) in the Information Memorandum prior to the date of this of this Agreement, shall not constitute a Material Adverse Change.

 “Material Adverse Effect” means a material adverse effect on the financial condition or
results of operations of the Borrower and its Subsidiaries taken as a whole. 
 “Moody’s”
means Moody’s Investors Service, Inc. 
 “Multiemployer Plan” means a “multiemployer
plan” as defined in Section 4001(a)(3) of ERISA to which the Borrower or any Subsidiary of the Borrower or any ERISA Affiliate is making or accruing an obligation to make contributions or has within any of the preceding five plan years
made or accrued an obligation to make contributions. 
 “Negative Pronouncement” means a public
announcement by either S&P or Moody’s in respect to a possible downgrade of, or negative outlook with respect to, the public debt rating of the Borrower. 

“Net Income” of any Person means, for any period, net income before (i) extraordinary items,
(ii) the results of discontinued operations and (iii) the effect of any cumulative change in accounting principles, determined in accordance with GAAP. 

 

 13 

 “Notice of Borrowing” has the meaning specified in
Section 2.02(a). 
 “Obligation” means, with respect to any Person, any payment,
performance or other obligation of such Person of any kind, including, without limitation, any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated,
unliquidated, fixed, contingent, matured, disputed, undisputed, legal, equitable, secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any proceeding referred to in Section 8.01(e). Without limiting
the generality of the foregoing, the Obligations of the Borrower under the Loan Documents include (a) the obligation to pay principal, interest, commissions, charges, expenses, fees, attorneys’ fees and disbursements, indemnity payments
and other amounts payable by the Borrower under any Loan Document and (b) the obligation of the Borrower to reimburse any amount in respect of any of the foregoing items that any Lender Party, in its sole discretion, may elect to pay or advance
on behalf of such Loan Party. 
 “OECD” means the Organization for Economic Cooperation and
Development. 
 “Other Taxes” has the meaning specified in Section 4.02(b). 

“Payment Office” means the office of the respective Issuing Bank as shall be from time to time selected
by such Issuing Bank and notified by such Issuing Bank to the Borrower, the LC Subsidiaries, and the Lenders. 

“Performance Level” means Performance Level 1, Performance Level 2, Performance Level 3, Performance
Level 4, Performance Level 5, or Performance Level 6, as identified by reference to the Public Debt Rating and Leverage Ratio in effect on such date as set forth below: 

 

			
	 Performance Level
	  	 Public Debt Rating

		
	Level 1	  	Long-Term Senior Unsecured Debt of the Borrower Rated at least A- by S&P or A3 by Moody’s or the Leverage Ratio is less than or equal to
1.25:1.00
		
	Level 2	  	Long-Term Senior Unsecured Debt of the Borrower Rated less than Level I but at least BBB+ by S&P or Baa1 by Moody’s or the Leverage Ratio is
less than or equal to 1.25:1.00
		
	Level 3	  	Long-Term Senior Unsecured Debt of the Borrower Rated less than Level II but at least BBB by S&P or Baa2 by Moody’s or the Leverage Ratio is
less than or equal to 1.25:1.00
		
	Level 4	  	Long-Term Senior Unsecured Debt of the Borrower Rated less than Level III but at least BBB- by S&P or Baa3 by Moody’s or the Leverage Ratio
is less than or equal to 1.50:1.00

  

 14 

			
		
	Level 5	  	Long-Term Senior Unsecured Debt of the Borrower Rated less than Level IV but at least BB+ by S&P or Ba1 by Moody’s or the Leverage Ratio is
less than or equal to 1.75:1.00
		
	Level 6	  	Long-Term Senior Unsecured Debt of the Borrower Rated less than Level 5 or the Leverage Ratio is greater than 1.75:1.00

For purposes of this definition, the Performance Level shall be determined by the applicable public debt rating or Leverage Ratio as follows:
(a) the public debt ratings above shall be determined as follows: (i) the public debt ratings shall be determined by the then-current rating announced by either S&P or Moody’s, as the case may be, for any class of
non-credit-enhanced long-term senior unsecured debt issued by the Borrower, (ii) if only one of S&P and Moody’s shall have in effect a public debt rating, the Performance Level shall be determined by reference to the available rating;
(iii) if neither S&P nor Moody’s shall have in effect a public debt rating, the applicable Performance Level will be Performance Level 6; (iv) if the ratings on the Borrower’s long-term senior unsecured debt established by
S&P and Moody’s shall fall within different levels, the public debt rating will be determined by the higher of the two ratings, provided, that, in the event that the lower of such ratings is more than one level below the
higher of such ratings, the public debt rating will be determined based upon the level that is one level above the lower of such ratings; (v) if any rating established by S&P or Moody’s shall be changed, such change shall be effective
as of the date on which such change is first announced publicly by the rating agency making such change; and (vi) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the public debt rating
announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be; (b) the Leverage Ratio shall be determined on the basis of the most recent certificate of the
Borrower to be delivered pursuant to Section 7.04(c) for the most recently ended Fiscal Quarter or Fiscal Year and any change in the Leverage Ratio shall be effective one Business Day after the date on which the Agent receives such certificate;
provided, that until the Borrower has delivered to the Agent such certificate pursuant to Section 7.04(c) in respect of the second Fiscal Quarter of 2004, the Leverage Ratio shall be deemed to be at Level 4; provided,
further, that for so long as the Borrower has not delivered such certificate when due pursuant to Section 7.04(c), the Leverage Ratio shall be deemed to be at Level 6 until the respective certificate is delivered to the Agent; and
(c) the Performance Level shall be determined in accordance with the Borrower’s respective public debt rating and Leverage Ratio, provided, that, if the Borrower’s public debt rating and the Leverage Ratio shall fall
within different levels, the Performance Level will be determined by the higher of the public debt rating and the Leverage Ratio, provided, further, that, in the event that the lower of the Borrower’s public debt rating and
the Leverage Ratio is more than one level below the higher of the Borrower’s public debt rating and the Leverage Ratio, the Performance Level shall be determined based upon the level that is one level above the lower of the Borrower’s
public debt rating and the Leverage Ratio. 
  

 15 

 “Permitted Lien” means: 

(i) Liens for taxes, assessments or governmental charges or levies to the extent not past due or to the extent contested,
in good faith, by appropriate proceedings and for which adequate reserves have been established; 

(ii) Liens imposed by law, such as materialman’s, mechanic’s, carrier’s, worker’s,
landlord’s and repairman’s Liens and other similar Liens arising in the ordinary course of business which relate to obligations which are not overdue for a period of more than 30 days or which are being contested in good faith, by
appropriate proceedings and for which reserves required by GAAP have been established; 
 (iii) pledges or
deposits in the ordinary course of business to secure obligations (including to secure letters of credit posted in connection therewith) under worker’s compensation or unemployment laws or similar legislation or to secure the performance of
leases or contracts (including insurance contracts issued by insurance companies which are Subsidiaries of the Borrower) entered into in the ordinary course of business or of public or statutory obligations, bids, or appeal bonds; 

(iv) zoning restrictions, easements, licenses, landlord’s Liens or restrictions on the use of property which do
not materially impair the use of such property in the operation of the business of the Borrower or any of its Subsidiaries; 

(v) Liens upon assets subject to a Capital Lease and securing payment of the obligations arising under such Capital
Lease; 
 (vi) Liens of the Borrower and its Subsidiaries not described in the foregoing clauses
(i) through (v) existing on the Effective Date and listed on Schedule II and any extensions, renewals or replacements of such Liens for the same or lesser amount, provided, that, no such extension, renewal or replacement
shall extend to or cover any property not theretofore subject to the Lien being extended, renewed or replaced; 

(vii) judgment Liens in respect of judgments that do not constitute an Event of Default under Section 8.01(f);
and 
 (viii) Liens arising out of or pursuant to this Agreement. 

“Person” means an individual, partnership, limited liability company, corporation (including a business
trust), joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means an employee benefit plan (other than a Multiemployer Plan) maintained by the Borrower, any
Subsidiary of the Borrower or any ERISA Affiliate for its employees and subject to Title IV of ERISA. 

“Recipient” has the meaning specified in Section 10.10. 

 

 16 

 “Reference Banks” means Citibank, Bank of America, N.A.,
HSBC Bank USA, National Association and JPMorgan Chase Bank. 
 “Responsible Officer” means,
with respect to any certificate, report or notice to be delivered or given hereunder, unless the context otherwise requires, the president, chief executive officer, chief financial officer or treasurer of the Borrower or other executive officer of
the Borrower who in the normal performance of his or her operational duties would have knowledge of the subject matter relating to such certificate, report or notice. 

“Register” has the meaning specified in Section 10.07(c). 

“Requirements of Law” means, with respect to any Person, all laws, constitutions, statutes, treaties,
ordinances, rules and regulations, all orders, writs, decrees, injunctions, judgments, determinations and awards of an arbitrator, a court or any other Governmental Authority, and all Governmental Authorizations, binding upon or applicable to such
Person or to any of its properties, assets or businesses. 
 “S&P” means Standard &
Poor’s, a division of The McGraw-Hill Companies, Inc. 
 “Standby Letter of Credit” means a
letter of credit or other credit support instrument issued for the benefit of a Person party to a contractual arrangement with the Borrower or any of its Subsidiaries as credit support for the obligations of the Borrower or such Subsidiary
thereunder. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership,
trust or other Person of which more than 50% of the outstanding capital stock (or similar property right in the case of partnerships and trusts and other Persons) having ordinary voting power to elect a majority of the board of directors of such
corporation (or similar governing body or Person with respect to partnerships and trusts and other Persons) (irrespective of whether or not at the time capital stock of any other class or classes of such corporation shall or might have voting power
upon the occurrence of any contingency) is at the time directly or indirectly owned by such Person, by such Person and one or more other Subsidiaries of such Person, or by one or more other Subsidiaries of such Person. 

“Subsidiary Borrower” means, as of the date hereof, the Subsidiaries of the Borrower listed on Schedule
VI and, after the date hereof, any other Subsidiary of the Borrower that may from time to time become a party hereto (with respect to Swing Line Advances only) and in connection therewith such other Subsidiary shall execute such documents as are
reasonably requested by the Agent to evidence its agreement to be bound hereunder as a Subsidiary Borrower, and to whom the Swing Line Lenders may from time to time make Swing Line Advances. 

“Subsidiary Obligations” has the meaning specified in Section 4.05. 

“Swing Line Advance” means an advance made by a Swing Line Lender pursuant to Section 2.01(b).

  

 17 

 “Swing Line Lender” means each Lender designated as such on
the signature pages hereto and each other Lender which agrees from time to time to act as a Swing Line Lender. 

“Swing Line Commitment” means $3,000,000 on the Effective Date, as such amount may be increased or
reduced from time to time pursuant to Section 2.04(b), provided, that the Swing Line Commitment may not be more than $75,000,000 (or its equivalent in the respective Alternative Currencies). 

“Tangible Net Worth” means the consolidated shareholder’s equity of the Borrower and its
Subsidiaries, determined in accordance with GAAP less goodwill and other intangibles (other than patents, trademarks, licenses, copyrights and other intellectual property and prepaid assets). 

“Taxes” has the meaning specified in Section 4.02(a). 

“Termination Date” means August 30, 2009, or the earlier date of termination in whole of the
Commitments pursuant to Section 2.04(a) or 8.01. 
 “Total Assets” means, as of any date of
determination, the consolidated assets of the Borrower and its Subsidiaries at the end of the Fiscal Quarter immediately preceding such date, determined in accordance with GAAP. 

“Trade Letter of Credit” means a direct-pay trade or documentary letter of credit issued for the benefit
of a vendor in connection with the purchase of goods by the Borrower or any of its Subsidiaries in the ordinary course of business. 

“Type” refers to the distinction among Advances bearing interest at the Base Rate and Advances bearing
interest at the Eurodollar Rate. 
 “UCP” has the meaning specified in Section 3.09.

 “Withdrawal Liability” has the meaning specified in Part I of Subtitle E of Title IV of
ERISA. 
 SECTION 1.02 Computation of Time Periods. In this Agreement in the computation of periods of time from a
specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding”. 

SECTION 1.03 Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP
applied in a consistent manner with that applied in the preparation of the financial statements referred to in Section 6.01(f). 
  

 18 

 ARTICLE II 

AMOUNTS AND TERMS OF THE ADVANCES 

SECTION 2.01 The Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make
Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time outstanding such Lender’s Commitment, provided,
that, the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing, the sum of the then outstanding aggregate amount of all Borrowings, the aggregate Swing Line
Commitment then in effect (computed without giving regard to usage) and the then outstanding aggregate amount of all Letter of Credit Liability shall exceed the aggregate amount of the Commitments in effect from time to time. Each Borrowing shall be
in an aggregate amount not less than (A) $15,000,000, in the case of a Borrowing consisting of Eurodollar Rate Advances and (B) $1,000,000, in the case of a Borrowing consisting of Base Rate Advances, or, in each case, in integral
multiples of $1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Commitment, the Borrower may from
time to time borrow, prepay pursuant to Section 2.10 and reborrow under this Section 2.01. 
 (b)
The Swing Line Advances. A Subsidiary Borrower may request the respective Swing Line Lender to make, and such Swing Line Lender shall on the terms and conditions hereinafter set forth, make Swing Line Advances in Dollars or the respective
Alternative Currency to such Subsidiary Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an amount, when combined with all Swing Line Advances of all Swing Line Lenders, not to
exceed the lesser of (i) the Swing Line Commitment then in effect and (ii) such Swing Line Lender’s Commitment. Each Swing Line Advance shall be in an amount of $100,000 (or its equivalent in the respective Alternative Currency) or an
integral multiple thereof and shall bear interest at a rate to be agreed on by the respective Subsidiary Borrower and the respective Swing Line Lender. Within the limits of the first sentence of this Section 2.01(b), the respective Subsidiary
Borrower may borrow under this Section 2.01(b), repay pursuant to Section 2.05(b), prepay pursuant to Section 2.10(b) and reborrow under this Section 2.01(b). 

SECTION 2.02 Making the Advances. (a) Each Borrowing shall be made on notice given not later than (i) 12:00 noon (New
York City time) on the third Business Day prior to the date of the proposed Borrowing, if such proposed Borrowing consists of Eurodollar Rate Advances and (ii) 10:00 A.M. (New York City time) on the day of such proposed Borrowing, if such
proposed Borrowing consists of Base Rate Advances, by the Borrower to the Agent, which shall give to each Lender prompt notice thereof by telecopier. Each such notice of a Borrowing (a “Notice of Borrowing”) shall be by telecopier
or telephone (and if by telephone, confirmed immediately in writing), in substantially the form of Exhibit A, specifying therein the requested (i) date of such Borrowing, (ii) Type of Advances comprising such Borrowing,
(iii) aggregate amount of such Borrowing and (iv) in the case of a Borrowing comprised of Eurodollar Rate Advances, initial Interest Period for each such Advance. Each Lender shall, before 2:00 p.m.

  

 19 

 
(New York City time) on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Agent at its address referred to in Section 10.02, in same day
funds, such Lender’s ratable portion of such Borrowing. After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article V, the Agent will make such funds available to the Borrower at the
Agent’s aforesaid address. 
 (b) (i) Each Swing Line Advance shall be made on such notice and on such
terms (subject to the provisions of Section 2.05 (b)) as are agreed to from time to time between the respective Subsidiary Borrower and the respective Swing Line Lender. Upon fulfillment of the applicable conditions set forth in Article V, the
respective Swing Line Lender will make such funds available to the respective Subsidiary Borrower. No later than 30 days after the end of each calendar quarter, each Swing Line Lender shall deliver to the Agent a report as to the outstanding amount
of Swing Line Advances by such Swing Line Lender as of the end of such quarter and the identity of the respective Subsidiary Borrower. In addition, each Swing Line Lender will provide such information as to the Swing Line Advances made by such Swing
Line Lender as is requested by the Agent from time to time. 
 (ii) Upon demand by the respective Swing Line
Lender, with a copy of such demand to the Agent (which shall give prompt notice thereof to each Lender), each Lender shall purchase from such Swing Line Lender, and such Swing Line Lender shall sell and assign to each such Lender, such Lender’s
ratable share (as determined by reference to such Lender’s Commitment Percentage) of any outstanding Swing Line Advance by such Swing Line Lender as of the date of such demand, by making available to the respective Swing Line Lender, an amount
equal to such ratable share. If such Swing Line Advance is denominated in an Alternative Currency, the payment to be made by the Lenders pursuant to the preceding sentence shall be Converted into Dollars by the Swing Line Lender at a rate determined
by such Swing Line Lender as provided in Section 3.12(a). Each Lender hereby agrees to purchase its ratable share of an outstanding Swing Line Advance on (A) the Business Day on which demand therefor is made by the respective Swing Line
Lender so long as notice of such demand is given not later than one Business Day prior to such Business Day or (B) the first Business Day next succeeding such demand if notice of such demand is given after such time. The respective Subsidiary
Borrower, hereby agrees to each such sale and assignment. Upon any such assignment by the respective Swing Line Lender to any Lender of a portion of a Swing Line Advance, the respective Swing Line Lender represents and warrants to such Lender that
such Swing Line Lender is the legal and beneficial owner of such interest being assigned by it, but makes no other representation or warranty and assumes no responsibility with respect to such Swing Line Advance, the Loan Documents or any Loan
Party. If and to the extent that any Lender shall not have so made its ratable share of any applicable Swing Line Advance available to the respective Swing Line Lender in accordance with the foregoing provisions of this Section 2.02(b)(ii),
such Lender hereby agrees to pay to the respective Swing Line Lender forthwith on demand the amount of its ratable share, together with interest thereon, for each day from the date of demand by such Swing Line Lender

  

 20 

 
therefor until the date such amount is paid to such Swing Line Lender, at the Federal Funds Rate. If such Lender shall pay to such Swing Line Lender the amount of its ratable share on any
Business Day, such amount so paid in respect of principal shall constitute a Swing Line Advance made by such Lender on such Business Day for all purposes of this Agreement, and the outstanding principal amount of the Swing Line Advance made by the
respective Swing Line Lender shall be reduced by such amount on such Business Day. 
 (iii) The obligation of
each Lender to purchase its ratable share of each outstanding Swing Line Advance upon demand by the respective Swing Line Lender therefor pursuant to clause (ii) of this Section 2.02(b) shall be absolute, unconditional and irrevocable, and
shall be made strictly in accordance with the terms of clause (ii) of this Section 2.02(b) under all circumstances, including, without limitation, the following circumstances: 

(A) any lack of validity or enforceability of any Loan Document or any other agreement or instrument relating
thereto; 
 (B) the existence of any claim, set-off, defense or other right that such Lender may have at any
time against the respective Swing Line Lender, the respective Subsidiary Borrower or any other Person, whether in connection with the transactions contemplated by the Loan Documents or any unrelated transaction; 

(C) the occurrence and continuance of any Default or Event of Default; 

(D) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing; or 

(E) the failure of the respective Subsidiary Borrower to comply with the applicable conditions set forth in
Article V. 
 (c) Anything in subsection (a) above to the contrary notwithstanding, the Borrower
may not select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less than $1,000,000 multiplied by the number of Lenders. 

(d) Each Notice of Borrowing shall be irrevocable and binding on the Borrower or the respective Subsidiary Borrower, as
the case may be. In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a
result of any failure to fulfill on or before the date specified in such Notice of Borrowing for such Borrowing the applicable conditions set forth in Article V, including, without limitation, any loss (including loss of anticipated profits), cost
or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Eurodollar Rate Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such
failure, is not made on such date. 
  

 21 

 (e) Unless the Agent shall have received notice from a Lender (i) in
the case of any Borrowing consisting of (A) Eurodollar Rate Advances or (B) Base Rate Advances for which the Notice of Borrowing is given other than on the date thereof, prior to the date of such Borrowing or (ii) in the case of any
Borrowing consisting of Base Rate Advances for which the Notice of Borrowing is given on the date thereof, prior to the time at which such Lender is required to fund such Borrowing, which notice shall in either case state that such Lender will not
make available to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Borrowing in accordance with Section 2.02(a) and the Agent
may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to the Agent, such Lender and the Borrower
severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent at
(x) in the case of the Borrower or the respective Subsidiary Borrower, the interest rate applicable at the time to Advances comprising such Borrowing and (y) in the case of such Lender, the Federal Funds Rate. If such Lender shall repay to
the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Advance as part of such Borrowing for purposes of this Agreement. 

(f) The failure of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve any other
Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing.

 (g) The Borrower shall, if requested by any Lender, execute and deliver a promissory note, in substantially
the form of Exhibit B, payable to the order of such Lender in an original principal amount equal to such Lender’s Commitment, duly executed by the Borrower. 

SECTION 2.03 Fees. (a) Facility Fee. The Borrower agrees to pay to the Agent for the account of each Lender a facility
fee, from the date hereof in the case of each initial Lender and from the effective date specified in the Assumption Agreement or in the Assignment and Acceptance, respectively, pursuant to which it became Lender in the case of each other Lender
until the Termination Date at a rate per annum equal to the Applicable Facility Fee in effect from time to time, (i) on the amount of such Lender’s Commitment (computed without giving effect to any usage of the Commitment of such Lender),
payable quarterly in arrears on the last day of each January, April, July and October and on the Termination Date; and (ii) on the aggregate amount of Letter of Credit Liability under all Letters of Credit that are outstanding beyond the
Termination Date (regardless of the actual or deemed usage thereof) payable in arrears on the last day of each January, April, July and October after the Termination Date and on the first day after the Termination Date on which no Letters of Credit
are outstanding. 
 (b) Utilization Fee. The Borrower agrees to pay to the Agent for the account of each
Lender a utilization fee, accruing, during all periods from and after the Effective 
  

 22 

 
Date when the aggregate amount of outstanding Advances (including any outstanding Swing Line Advances) exceeds 50% of the aggregate Commitments (without regard to any usage thereof), at a rate
per annum equal to the Applicable Utilization Fee in effect from time to time on the aggregate amount of Advances (including any Swing Line Advances) by such Lender outstanding from time to time during such periods, payable quarterly in arrears on
the last day of each January, April, July and October and on the Termination Date. 
 (c) Other Fees. The
Borrower hereby agrees to pay the fees and charges referred to in that certain letter agreement, dated as of the date hereof, among the Borrower, the Issuing Banks and the Agent. 

SECTION 2.04 Reduction and Increase of the Commitments; Reduction and Increase of the Swing Line Commitment; Additional Issuing
Banks. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to irrevocably terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders,
provided, that, after giving effect to such reduction, the Commitments are not less than the sum of the aggregate amount of all Letter of Credit Liability, the aggregate Swing Line Commitment then in effect (computed without giving
regard to usage), and the then outstanding amount of all Borrowings; provided, further, that, each partial reduction shall be in the aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof. 

(b) Not more frequently than four times in any calendar year starting on the Effective Date, the Borrower shall have the
right, upon at least three Business Days’ notice to the Agent and the Swing Line Lenders to reduce in whole or in part the unused portion of the Swing Line Commitment or increase the amount of the Swing Line Commitment; provided,
that, after giving effect to any such reduction, the Swing Line Commitment is not less than the outstanding amount of all Swing Line Advances; provided, further, that, each partial reduction or increase shall be in the
amount of $3,000,000 or an integral multiple of $500,000 in excess thereof (or, in each case, the equivalent amount in the respective Alternative Currency), provided, further, that, the Swing Line Commitment, after giving effect
to any increase thereof proposed herein, shall not exceed $75,000,000 and, together with the then outstanding aggregate amount of all Borrowings and the then outstanding aggregate amount of all Letter of Credit Liability, shall not exceed the
aggregate amount of the Commitments in effect from time to time and at the time of any proposed increase in the Swing Line Commitment and after giving effect thereto, no event has occurred and is continuing which constitutes an Event of Default or
Default and, provided, further, that, the Agent shall record any such increase or decrease in the Swing Line Commitment in the Register. 

(c) Not more frequently than twice in any calendar year, the Borrower shall have the right prior to the Termination Date
to (i) increase the amount of the Commitments of one or more Lenders (subject to the consent of such Lenders in their sole and absolute discretion), (ii) add one or more Assuming Lenders as Lenders (subject to the consent of the Agent and
the Issuing Banks in their sole and absolute discretion) and (iii) increase the Issuing Commitment of an Issuing Bank (subject to the consent of 

 

 23 

 
such Issuing Bank in its sole and absolute discretion) (each such increase under clause (i), (ii) or (iii) being a “Commitment Increase”), on and subject to the
following terms: 
 (i) The aggregate amount of the increase in the Commitments shall not exceed
$250,000,000 after the date hereof; 
 (ii) The amount of each Commitment Increase by any Lender or any
Assuming Lender shall be in a minimum amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. 

(iii) No proposed Commitment Increase shall occur unless each of the following requirements in respect thereof shall have
been satisfied: 
 (A) The Agent shall have received from the Borrower an irrevocable written notice (a
“Commitment Increase Notice”), dated not earlier than 60 days before the proposed Commitment Increase Effective Date (as defined below) therefor and not later than 30 days (or such shorter period agreed to by the Agent) before such
proposed Commitment Increase Effective Date, that (1) specifies (w) (if applicable) the proposed Issuing Commitment increase of each Issuing Bank and/or of the Lenders which are to become Issuing Banks and the amount of each Issuing
Bank’s Issuing Commitment after giving effect thereto, (x) the aggregate amount of the proposed Commitment Increase, (y) the Lenders whose Commitments are to be increased by the proposed Commitment Increase and/or the Assuming Lenders
which are to become Lenders and the amount by which each such Lender’s Commitment is to be so increased and/or the amount of each such Assuming Lender’s Commitment and (z) the date (the “Commitment Increase Effective
Date”) on which the proposed Commitment Increase shall become effective, and (2) has been signed by each Lender whose Commitment is to be increased, evidencing the consent of such Lender to the proposed Commitment Increase and each
Issuing Bank whose Issuing Commitment is to be increased evidencing the consent of such Issuing Bank thereto and/or by each such Assuming Lender; and 

(B) On and as of the Commitment Increase Effective Date of the proposed Commitment Increase (1) the following
statements shall be true (and the giving of the applicable Commitment Increase Notice shall constitute a representation and warranty by the Borrower that on such Commitment Increase Effective Date such statements are true): 

(x) The representations and warranties contained in Section 6.01 are correct on and as of such Commitment
Increase Effective Date before and after giving effect to the proposed Commitment Increase, as though made on and as of such date; and 

(y) No event has occurred and is continuing, or would result from such Commitment Increase, which constitutes an
Event of Default or Default; and 
  

 24 

 (z) the Agent shall have received such other approvals, opinions or
documents as the Agent may reasonably request. 
 (iv) Promptly following its receipt of a Commitment Increase
Notice in proper form, the Agent shall deliver copies thereof to each Lender and Issuing Bank. If, and only if, all of the terms, conditions and requirements specified in paragraphs (i) through (iv) are satisfied in respect of any proposed
Commitment Increase on and as of the proposed Commitment Increase Effective Date thereof and in the case of each such Assuming Lender, an Assumption Agreement, duly executed by such Assuming Lender, the Agent and the Borrower, has been received by
the Agent, then, as of such Commitment Increase Effective Date and from and after such date, (1) the Commitments of the Lenders consenting to such Commitment Increase shall be increased by the respective amounts specified in the Commitment
Increase Notice pertaining thereto, (2) references herein to the amounts of the Lenders’ respective Commitments shall refer to respective amounts giving effect to such Commitment Increase, and (3) each such Assuming Lender shall be a
Lender and Issuing Bank, if applicable, for all purposes hereof, and the Agent shall record all relevant information with respect to such Assuming Lender and its Commitment and, if applicable, with respect to any increased Issuing Commitment of an
Issuing Bank in the Register; 
 (v) It is understood that no Lender or Issuing Bank shall have any
obligation whatsoever to agree to any request made by the Borrower for a Commitment Increase; 
 (vi) As
part of such Commitment Increase, such Lender or Assuming Lender shall purchase assignments in the Advances and Commitments of the other Lenders so that after giving effect thereto, the percentage held by each Lender of the aggregate Commitments is
the same as prior to such Commitment Increase and such Lender or Assuming Lender shall have acquired a ratable participation in all Swing Line Advances as contemplated by Section 2.02(b). In connection therewith, on each Commitment Increase
Effective Date, (A) each Lender whose Commitment has been increased (each such Lender being an “Increasing Lender”) shall, before 2:00 p.m. (New York City time) on such Commitment Increase Effective Date, make available for the
account of its Applicable Lending Office to the Agent at the address specified in Section 10.02, in same day funds, an amount equal to the excess of (1) such Increasing Lender’s ratable portion of the Advances then outstanding
(calculated based on its Commitment as a percentage of the aggregate Commitments of the Lenders (including each such Assuming Lender) outstanding after giving effect to the relevant Commitment Increase) over (2) the aggregate principal amount
of then outstanding Advances made by such Increasing Lender and (B) each such Assuming Lender shall before 2:00 p.m. (New York City time) on such Commitment Increase Effective Date, make available for the account of its Applicable Lending
Office to the Agent at the address specified in Section 10.02 in same day funds, an amount equal to such Assuming Lender’s ratable portion of the Advances then outstanding (calculated based on its Commitment as a

  

 25 

 
percentage of the aggregate Commitments of the Lenders (including each such Assuming Lender) outstanding after giving effect to the relevant Commitment Increase); and 

(vii) After the Agent’s receipt of such funds from each such Increasing Lender and such Assuming Lender, the
Agent will promptly thereafter cause to be distributed like funds to the other Lenders for the account of their respective Applicable Lending Offices in an amount to each other Lender such that the aggregate amount of the outstanding Advances owing
to each Lender (including each such Assuming Lender) after giving effect to such distribution equals such Lender’s ratable portion of the Advances then outstanding (calculated based on its Commitment as a percentage of the aggregate Commitments
of the Lenders outstanding after giving effect to the relevant Commitment Increase). 
 (d) The Borrower may at
any time, upon at least five Business Days’ prior written notice to the Agent and the Lenders or as part of a proposed Commitment Increase pursuant to this Section 2.04, designate (i) as an Issuing Bank any Lender that has agreed in
writing to act as an Issuing Bank and (ii) the Issuing Commitment of such Lender. Thereupon, any Lender so designated as an Issuing Bank shall thenceforth issue Letters of Credit on the terms and subject to the conditions herein, and the Agent
shall record all relevant information with respect to such Lender as such Issuing Bank in the Register. 
 SECTION 2.05
Repayment of Advances. (a) The Borrower shall repay in full the principal amount of each Advance made pursuant to Section 2.01(a) owing to each Lender, together with accrued interest and fees thereon, on the Termination Date.

 (b) Swing Line Advances. The respective Subsidiary Borrower shall repay the respective Swing Line
Lender and each Lender that has made a Swing Line Advance on the earlier of (i) the maturity date for each Swing Line Advance (which maturity shall be no later than 30 days after the date of such Advance) and (ii) the Termination Date, the
principal amount of each such Swing Line Advance made by the Swing Line Lender and each such Lender and outstanding on such date. 

SECTION 2.06 Interest on Advances. The Borrower or the respective Subsidiary Borrower, as the case may be, shall pay interest on
the unpaid principal amount of each Advance made by each Lender from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum: 

(a) Base Rate Advances. If such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum
of (x) the Base Rate in effect from time to time plus (y) the respective Applicable Margin in effect from time to time, payable quarterly on the last day of each April, July, October, and January and on the date such Base Rate Advance
shall be Converted or paid in full; provided, that, any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such
amount is paid in full, payable on demand, at a rate per annum equal at all times to 2% per annum above the rate 

 

 26 

 
per annum required to be paid on such Advance immediately prior to the date on which such principal amount become due. 

(b) Eurodollar Rate Advances. If such Advance is a Eurodollar Rate Advance, a rate per annum equal at all
times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period plus (y) the respective Applicable Margin in effect from time to time, payable on the last day of such Interest Period and,
if such Interest Period has a duration of more than three months, on each day which occurs during such Interest Period every three months from the first day of such Interest Period; provided, that, any amount of principal which is not
paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to 2% per annum
above the rate per annum required to be paid on such Advance (as if such Advance were a Base Rate Advance) immediately prior to the date on which such principal amount became due. 

(c) Swing Line Advances. If such Advance is a Swing Line Advance, a rate per annum as agreed upon by the respective
Swing Line Lender and respective Subsidiary Borrower. 
 SECTION 2.07 Additional Interest on Eurodollar Rate Advances.
The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including
Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times
to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve
Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Agent. 

SECTION 2.08 Interest Rate Determination. (a) Each Reference Bank agrees to furnish to the Agent timely information for the
purpose of determining the Eurodollar Rate. If any one or more of the Reference Banks shall not furnish such timely information to the Agent for the purpose of determining such interest rate, the Agent shall determine such interest rate on the basis
of timely information furnished by the remaining Reference Banks. The Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.06(a) or (b), and the
applicable rate, if any, furnished by each Reference Bank for the purpose of determining the applicable interest rate under Section 2.06(b). 

(b) If, with respect to any Eurodollar Rate Advances, the Majority Lenders notify the Agent that the Eurodollar Rate for
any Interest Period for such Advances will not adequately reflect the cost to such Majority Lenders of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest Period, the Agent shall forthwith so notify the
Borrower and the Lenders, whereupon: 
 (i) each outstanding Eurodollar Rate Advance will automatically, on
the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance, and 
  

 27 

 (ii) the obligation of the Lenders to make, or to Convert Advances into,
Eurodollar Rate Advances shall be suspended until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist. 

(c) If the Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances in
accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the Lenders and such Advances will automatically, on the last day of the then
existing Interest Period therefor, Convert into Base Rate Advances. 
 (d) On the date on which the aggregate
unpaid principal amount of Advances comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $1,000,000 multiplied by the number of Lenders, such Advances shall, if they are Advances of a Type other than Base
Rate Advances, automatically Convert on the last day of the Interest Period with respect to such Advance into Base Rate Advances, and on and after such date the right of the Borrower to Convert such Advances into Advances of a Type other than Base
Rate Advances shall terminate; provided, however, that if and so long as each such Advance shall be of the same Type and have the same Interest Period as Advances comprising another Borrowing or other Borrowings, and the aggregate
unpaid principal amount of all such Advances shall equal or exceed $1,000,000 multiplied by the number of Lenders, the Borrower shall have the right to continue all such Advances as, or to Convert all such Advances into, Advances of such Type having
such Interest Period. 
 (e) Upon the occurrence and during the continuance of any Event of Default,
(i) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, convert into a Base Rate Advance and (ii) the obligations of the Lenders to make, or to convert Advances into, Eurodollar
Rate Advances will be suspended. 
 (f) If fewer than two Reference Banks furnish timely information to the Agent
for determining the Eurodollar Rate for any Eurodollar Rate Advances, 
 (i) the Agent shall forthwith
notify the Borrower and the Lenders that the interest rate cannot be determined for such Eurodollar Rate Advances, 

(ii) each such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert
into a Base Rate Advance (or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance), and 

(iii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended
until the Agent shall notify the 
  

 28 

 
Borrower and the Lenders that the circumstances causing such suspension no longer exist. 

SECTION 2.09 Voluntary Conversion of Advances. The Borrower may on any Business Day, upon notice given to the Agent not later than
12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert all Advances of one Type comprising the same Borrowing into Advances of another
Type; provided, however, that any Conversion of any Eurodollar Rate Advances into Advances of another Type shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances. Each such notice of a Conversion shall,
within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such
Advance. 
 SECTION 2.10 Prepayments of Advances. 

(a) The Borrower may (i) upon at least two Business Days’, in the case of Eurodollar Rate Advances and
(ii) on the same Business Day, in the case of Base Rate Advances, notice to the Agent (to be received by the Agent prior to 12:00 noon (New York City time)) stating the proposed date and aggregate principal amount of the prepayment, and if such
notice is given the Borrower shall, prepay the outstanding principal amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount
prepaid (provided that any prepayment in connection with the termination and refinancing of this Agreement may be conditioned on the closing of such refinancing); provided, however, that (x) each partial prepayment shall be in an
aggregate principal amount not less than $15,000,000 if made with respect to Eurodollar Rate Advances, or $1,000,000, if made with respect to Base Rate Advances, and in each case in $1,000,000 integral multiples in excess thereof and (y) in the
case of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 10.04(b). 

(b) The right of any Subsidiary Borrower to prepay any Swing Line Advance shall be as set forth in an agreement between
the respective Swing Line Lender and the respective Subsidiary Borrower. 
 SECTION 2.11 Increased Costs. (a) If,
due to either (i) the introduction of or any change at any time after the date of this Agreement (other than any change by way of imposition or increase of reserve requirements in the case of Eurodollar Rate Advances, included in the Eurodollar
Rate Reserve Percentage) in or in the interpretation of any law or regulation or (ii) the compliance after the date of this Agreement with any guideline or request from any central bank or other governmental authority (whether or not having the
force of law), there shall be any increase in the cost (other than an increase in taxes, which increase is dealt with exclusively in Article IV) to any Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Advances, then the
Borrower shall from time to time, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost;

  

 29 

 
provided, that, the Borrower shall have no obligation to reimburse any Lender for increased costs incurred more than 60 days prior to the date of such demand. A certificate as to
the amount of such increased cost setting forth the basis for the calculation of such increased costs, submitted to the Borrower and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error. 

(b) If, at any time after the date of this Agreement, any Lender determines that compliance with any law or regulation or
any guideline or request from any central bank or other governmental authority (whether or not having the force of law) affects or would affect the amount of capital required or expected to be maintained by such Lender or any corporation controlling
such Lender and that the amount of such capital is increased by or based upon the existence of such Lender’s commitment to lend hereunder and other commitments of this type, then, upon demand by such Lender (with a copy of such demand to the
Agent), the Borrower shall immediately pay to the Agent for the account of such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances, to
the extent that such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s commitment to lend hereunder; provided, that, the Borrower shall have no obligation to pay such compensatory amounts
that relate to an actual increase in the capital of such Lender undertaken by such Lender more than 60 days prior to the date of such demand. A certificate as to such amounts submitted to the Borrower and the Agent by such Lender and setting forth
the basis for the calculation of such amount shall be conclusive and binding for all purposes, absent manifest error. 

(c) Without affecting its rights under Sections 2.11(a) or 2.11(b) or any other provision of this Agreement, each Lender
agrees that if there is any increase in any cost to or reduction in any amount receivable by such Lender with respect to which the Borrower would be obligated to compensate such Lender pursuant to Sections 2.11(a) or 2.11(b), such Lender shall use
reasonable efforts to select an alternative Applicable Lending Office which would not result in any such increase in any cost to or reduction in any amount receivable by such Lender; provided, however, that no Lender shall be obligated
to select an alternative Applicable Lending Office if such Lender determines that (i) as a result of such selection such Lender would be in violation of any applicable law, regulation, treaty, or guideline, or would incur additional costs or
expenses or (ii) such selection would be inadvisable for regulatory reasons or inconsistent with the interests of such Lender. 

(d) Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and obligations of
the Borrower contained in this Section 2.11 shall survive the payment in full (after the Termination Date) of all Obligations. 

SECTION 2.12 Illegality. (a) Notwithstanding any other provision of this Agreement, if any Lender shall notify the Agent that
the introduction of or any change in or in the interpretation of any law or regulation makes it unlawful or impossible, or any central bank or other governmental authority asserts that it is unlawful, for any Lender or its Eurodollar Lending Office
to perform its obligations hereunder to make Eurodollar Rate Advances or to 
  

 30 

 
fund or maintain Eurodollar Rate Advances hereunder, (i) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Agent shall
notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist and (ii) the Borrower shall forthwith prepay in full all Eurodollar Rate Advances of all Lenders then outstanding, together with interest accrued
thereon, unless the Borrower, within five Business Days of notice from the Agent, Converts all Eurodollar Rate Advances of all Lenders then outstanding into Advances of another Type in accordance with Section 2.09. 

(b) Without affecting its rights under Section 2.12(a) or under any other provision of this Agreement, each Lender
agrees that if it becomes unlawful or impossible for such Lender to make, maintain or fund its Eurodollar Rate Advances as contemplated by this Agreement, such Lender shall use reasonable efforts to select an alternative Applicable Lending Office
from which such Lender may maintain and give effect to its obligations under this Agreement with respect to making, funding and maintaining such Eurodollar Rate Advances; provided, however, that no Lender shall be obligated to select
an alternative Applicable Lending Office if such Lender determines that (i) as a result of such selection such Lender would be in violation of any applicable law, regulation, or treaty, or would incur additional costs or expenses or
(ii) such selection would be inadvisable for regulatory reasons or inconsistent with the interests of such Lender. 

SECTION 2.13 Subsidiary Borrowers. Any Subsidiary of the Borrower not a Subsidiary Borrower on the date hereof may become a
“Subsidiary Borrower” hereunder by delivering to the Agent appropriate authorizations in respect of it entering into this Agreement, an agreement, in form and substance satisfactory to the Agent, wherein such Subsidiary agrees to be bound
by all terms and provisions of this Agreement relating to Swing Line Advances to be made to such Subsidiary Borrower and delivers a written consent of the Borrower assenting to the inclusion of such Subsidiary as a “Subsidiary Borrower”
hereunder. Unless objected to by the Majority Lenders within the 10 day period referred to below, such Subsidiary shall become a “Subsidiary Borrower” hereunder 10 days after the Agent notifies the Borrower that such agreement and consent
are in form and substance satisfactory to it. 
 ARTICLE III 

AMOUNT AND TERMS OF LETTERS OF CREDIT AND PARTICIPATIONS THEREIN 

SECTION 3.01 Letters of Credit. (a) Each Issuing Bank agrees, on the terms and conditions hereinafter set forth, to Issue for
the account of the Borrower or any LC Subsidiary, one or more Letters of Credit (in an aggregate amount not in excess of the Issuing Commitment of such Issuing Bank) from time to time during the period from the date of this Agreement until the
Termination Date in an aggregate undrawn amount not to exceed at any time the Commitments of the Lenders in effect at such time (inclusive of the Dollar equivalent of Letters of Credit Issued in an Alternative Currency), each such Letter of Credit
(except Standby Letter of Credit) upon its Issuance to expire, subject to the following proviso, on or before the date which occurs one year from the date of its Issuance but in any event prior to the Termination Date; provided,
however, that if any Letter of Credit shall have an expiration date beyond the Termination Date, the Borrower or any LC Subsidiary, as applicable, shall, at or prior to the 

 

 31 

 
Termination Date deposit cash in the L/C Collateral Account in an amount equal to the Letter of Credit Liability (less the amount, if any, then on deposit in the L/C Collateral Account) as
collateral security for the Borrower’s or any LC Subsidiary’s, as applicable, reimbursement obligations in connection therewith, such cash to be returned promptly to the Borrower or such LC Subsidiary, as applicable, when the respective
Letter of Credit expires; and provided further, however, that, notwithstanding the foregoing, an Issuing Bank shall not be obligated to, and shall not, Issue any Letter of Credit if: 

(i) after giving effect to the Issuance of such Letter of Credit, the sum of the then outstanding aggregate amount of
all Letter of Credit Liability, the then outstanding principal amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage) shall exceed the aggregate amount of the Commitments in effect
from time to time; 
 (ii) after giving effect to the Issuance of such Letter of Credit, the then
outstanding aggregate amount of all Letter of Credit Liability in respect of Letters of Credit Issued by such Issuing Bank shall exceed the Issuing Commitment of such Issuing Bank; or 

(iii) the Agent or the Majority Lenders shall have notified the Issuing Banks and the Borrower that no further
Letters of Credit are to be Issued by the Issuing Banks due to failure to meet any of the applicable conditions set forth in Article V, and such notice has not been withdrawn. 

(b) Each Issuing Bank shall provide to the Agent in writing, no later than 5 days after the end of each month, a report
with respect to the outstanding Letters of Credit issued by such Issuing Bank, which report shall set forth the undrawn amount and drawn but unreimbursed amount as of the end of each day during that month of all such Letters of Credit. Promptly
after receiving all of such reports, the Agent shall forward copies thereof to each Lender. 
 Within the limits of the obligations of the
Issuing Banks set forth above and in Section 3.02, the Borrower and each LC Subsidiary may request the Issuing Banks to Issue one or more Letters of Credit, reimburse the Issuing Banks for payments made thereunder pursuant to
Section 3.04(a) and request the Issuing Banks to Issue one or more additional Letters of Credit under this Section 3.01. 

SECTION 3.02 Limitation on the Issuance of Letters of Credit Denominated in Alternative Currencies. The Issuing Banks shall not be
obligated to, and shall not, Issue any Letter of Credit denominated in an Alternative Currency if, after giving effect to the Issuance of any Letter of Credit denominated in an Alternative Currency, the then outstanding aggregate amount of all
Letter of Credit Liability with respect to all Letters of Credit denominated in an Alternative Currency equals or exceeds (on a Dollar equivalent basis) $75,000,000. 

SECTION 3.03 Issuing the Letters of Credit. Each Letter of Credit shall be Issued on notice from the Borrower or any LC
Subsidiary, as the case may be, to the respective Issuing Bank as provided in the application and agreement governing such Letter of Credit 

 

 32 

 
specifying the date, amount, currency, expiry and beneficiary thereof and whether such Letter of Credit is a Trade Letter of Credit or Standby Letter of Credit and, if it is a Standby Letter of
Credit, the amount of all Standby Letters of Credit then outstanding, accompanied by such documents as such Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to such Issuing Bank. On
the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01, such Issuing Bank will Issue such Letter of Credit and shall promptly notify
the Agent thereof. 
 SECTION 3.04 Reimbursement Obligations. (a) The Borrower or the appropriate LC Subsidiary, as
the case may be, shall: 
 (i) pay to the respective Issuing Bank an amount equal to, and in reimbursement
for, each amount which such Issuing Bank pays under any Letter of Credit not later than the date which occurs one Business Day after notice from the Issuing Bank to the Borrower or the appropriate LC Subsidiary of payment of such amount by such
Issuing Bank under such Letter of Credit; and 
 (ii) pay to such Issuing Bank interest on any amount paid
by such Issuing Bank under any Letter of Credit from the date on which such Issuing Bank pays such amount under any Letter of Credit until such amount is reimbursed in full to such Issuing Bank pursuant to clause (i) above, payable on demand,
at a fluctuating rate per annum equal to 2% per annum above the rate per annum required to be paid on Base Rate Advances immediately prior to the date on which such Issuing Bank makes such payment under such Letter of Credit. 

(b) All amounts to be reimbursed to an Issuing Bank in accordance with subsection (a) above may, subject to the
limitations set forth in Section 2.01 (inclusive of the minimum borrowing limitations), be paid from the proceeds of Advances. 

SECTION 3.05 Participations Purchased by the Lenders. (a) On the date of Issuance of each Letter of Credit the respective
Issuing Bank shall be deemed irrevocably and unconditionally to have sold and transferred to each Lender without recourse or warranty, and each Lender shall be deemed to have irrevocably and unconditionally purchased and received from such Issuing
Bank, an undivided interest and participation, to the extent of such Lender’s Commitment Percentage in effect from time to time, in such Letter of Credit and all Letter of Credit Liability relating to such Letter of Credit and all documents
securing, guaranteeing, supporting, or otherwise benefiting the payment of such Letter of Credit Liability. The Agent or such Issuing Bank will notify each Lender promptly after the close of each calendar month of all Letters of Credit then
outstanding and of their respective dates of Issue, outstanding amounts (on a Dollar equivalent basis) as at the end of such month, currency, expiry dates and reference numbers. 

(b) In the event that any reimbursement obligation under Section 3.04(a) is not paid when due to the respective
Issuing Bank with respect to any Letter of Credit, such Issuing Bank shall promptly notify the Agent who shall promptly notify the Lenders of the amount of such reimbursement obligation (on a Dollar equivalent basis in the case

  

 33 

 
of Letters of Credit denominated in an Alternative Currency) and each Lender shall pay to such Issuing Bank, in lawful money of the United States and in same day funds, an amount equal to such
Lender’s Commitment Percentage then in effect of the amount of such unpaid reimbursement obligation with such payment to be made on the date of notification to such Lender, if such notification is made prior to 12:00 noon (New York City time)
on a Business Day and if such notification is made after 12:00 noon (New York City time) on a Business Day, such payment to be made on the immediately succeeding Business Day, and in each case with interest at the Federal Funds Rate for each day
after such payment is due until such amount is paid to such Issuing Bank. 
 (c) Promptly after the respective
Issuing Bank receives a payment (including interest payments) on account of a reimbursement obligation with respect to any Letter of Credit, such Issuing Bank shall promptly pay to each Lender which funded its participation therein, in lawful money
of the United States, the Dollar equivalent of funds so received, in an amount equal to such Lender’s Commitment Percentage thereof. 

(d) Upon the request of any Lender, the Agent shall furnish, or cause the respective Issuing Bank to furnish, to such
Lender copies of any outstanding Letter of Credit and any application and agreement for letter of credit as may be reasonably requested by such Lender. 

(e) The obligation of each Lender to make payments under Section 3.05(b) shall be unconditional and irrevocable and
shall remain in effect after the occurrence of the Termination Date with respect to any Letter of Credit that was Issued by the respective Issuing Bank on behalf of the Borrower or any LC Subsidiary on or before the Termination Date and such
payments shall be made under all circumstances, including, without limitation, any of the circumstances referred to in Section 3.07(b) other than in connection with circumstances involving any willful misconduct or gross negligence of such
Issuing Bank in Issuing a Letter of Credit or in determining whether documents presented under a Letter of Credit comply with the terms thereof. 

(f) If any payment received on account of any reimbursement obligation with respect to a Letter of Credit and distributed
to a Lender as a participant under Section 3.05(c) is thereafter recovered from the respective Issuing Bank in connection with any bankruptcy or insolvency proceeding relating to the Borrower or an LC Subsidiary, each Lender which received such
distribution shall, upon demand by such Issuing Bank, repay to such Issuing Bank such Lender’s ratable share of the amount so recovered together with an amount equal to such Lender’s ratable share (according to the proportion of
(i) the amount of such Lender’s required repayment to (ii) the total amount so recovered) of any interest or other amount paid or payable by such Issuing Bank in respect of the total amount so recovered. 

SECTION 3.06 Letter of Credit Fees. 

(a) Letter of Credit Fee. The Borrower hereby agrees to pay to the Agent for the account of each Lender (in
accordance with its Commitment Percentage), a letter of credit fee at a rate per annum equal in the case of Trade Letters of Credit to the 

 

 34 

 
Applicable Letter of Credit Fee in effect from time to time, and in the case of Standby Letters of Credit, to the Applicable Margin applicable to Eurodollar Rate Advances in effect from time to
time, on the maximum amount available to be drawn under each such Letter of Credit from time to time (the determination of such maximum amount to assume compliance with all conditions for drawing) from the date of Issuance of each such Letter of
Credit until the expiry date of each such Letter of Credit, payable in arrears on the last day of each January, April, July and October prior to the expiry date of each such Letter of Credit and on the expiry date of each such Letter of Credit.

 (b) Issuing Bank Fees. The Borrower hereby agrees to pay to each Issuing Bank the fees and charges as
agreed to from time to time by such Issuing Bank and the Borrower. 
 SECTION 3.07 Indemnification; Nature of the Issuing
Banks’ Duties. (a) The Borrower agrees to indemnify and save harmless the Agent, the Issuing Banks and each Lender from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including
reasonable attorneys’ fees) which the Agent, the respective Issuing Bank or such Lender may incur or be subject to as a consequence, direct or indirect, of (i) the Issuance of any Letter of Credit or (ii) any action or proceeding
relating to a court order, injunction, or other process or decree restraining or seeking to restrain an Issuing Bank from paying any amount under any Letter of Credit; provided, that, an Issuing Bank shall not be indemnified for any of
the foregoing caused by its gross negligence or willful misconduct. 
 (b) The obligations of the Borrower and
each LC Subsidiary hereunder with respect to Letters of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms hereof under all circumstances, including, without limitation, any of the following
circumstances: 
 (i) any lack of validity or enforceability of any Letter of Credit or this Agreement or
any agreement or instrument relating thereto; 
 (ii) the existence of any claim, setoff, defense or other
right which the Borrower or any LC Subsidiary may have at any time against the beneficiary, or any transferee, of any Letter of Credit, or the Issuing Banks, any Lender, or any other Person; 

(iii) any draft, certificate, or other document presented under any Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 

(iv) any lack of validity, effectiveness, or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part; 

(v) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any
Letter of Credit or of the proceeds thereof; 
  

 35 

 (vi) any exchange, release or non-perfection of any collateral, or any
release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any guarantee, for all or any of the obligations of the Borrower or an LC Subsidiary in respect of the Letters of Credit; 

(vii) any change in the time, manner or place of payment of, or in any other terms of, all or any of the obligations
of the Borrower or any LC Subsidiary in respect of the Letters of Credit or any other amendment or waiver of or any consent to departure from all or any of this Agreement; 

(viii) any failure of the beneficiary of a Letter of Credit to strictly comply with the conditions required in order
to draw upon any Letter of Credit; 
 (ix) any misapplication by the beneficiary of any Letter of Credit of
the proceeds of any drawing under such Letter of Credit; or 
 (x) any other circumstance or happening
whatsoever, whether or not similar to the foregoing; 
 provided, that, notwithstanding the foregoing, an Issuing Bank shall not
be relieved of any liability it may otherwise have as a result of its gross negligence or willful misconduct. 
 SECTION 3.08
Increased Costs. (a) Change in Law. If, at any time after the date of this Agreement, any change in any law or regulation or in the interpretation thereof by any court or administrative or governmental authority charged with the
administration thereof shall either (i) impose, modify or deem applicable any reserve, special deposit or similar requirement against letters of credit or guarantees issued by, or assets held by or deposits in or for the account of, the Issuing
Banks or any Lender or (ii) impose on the Issuing Banks or any Lender any other condition regarding this Agreement or the Letters of Credit or any collateral thereon, and the result of any event referred to in clause (i) or (ii) above
shall be to increase the cost (other than an increase in taxes, which increase is dealt with exclusively in Article IV) to such Issuing Bank or such Lender of issuing or maintaining, funding or purchasing participations in the Letters of Credit,
then, upon demand by such Issuing Bank or such Lender (with a copy of such demand to the Agent), the Borrower shall pay to the Agent for the account of such Issuing Bank or such Lender, from time to time as specified by such Issuing Bank or such
Lender, additional amounts sufficient to compensate such Issuing Bank or such Lender for such increased cost; provided, that, the Borrower shall have no obligation to reimburse an Issuing Bank or any Lender for increased costs incurred
more than 60 days prior to the date of such demand. A certificate as to the amount of such increased cost setting forth the basis for the calculation of such increased costs, submitted by an Issuing Bank or a Lender to the Borrower, shall be
conclusive and binding for all purposes, absent manifest error. 
 (b) Capital. If, at any time after the
date of this Agreement, an Issuing Bank or any Lender determines that compliance with any law or regulation or any guideline or request from any central bank or other governmental authority (whether or not having the force of law) affects or would
affect the amount of capital required or expected to be maintained by such Issuing Bank or such Lender or any corporation controlling such 

 

 36 

 
Issuing Bank or such Lender and that the amount of such capital is increased by or based upon the existence of such Issuing Bank’s or Lender’s commitment hereunder and other commitments
of this type or the issuance of (or commitment to purchase of participations in) the Letters of Credit (or similar contingent obligations), then, upon written demand by such Issuing Bank or such Lender (with a copy of such demand to the Agent), the
Borrower shall pay to the Agent for the account of such Issuing Bank or such Lender, from time to time as specified by such Issuing Bank or such Lender, additional amounts sufficient to compensate such Issuing Bank or such Lender or such corporation
in the light of such circumstances, to the extent that such Issuing Bank or such Lender reasonably determines such increase in capital to be allocable to the existence of such Issuing Bank’s or such Lender’s commitment hereunder;
provided, that, the Borrower shall have no obligation to pay such compensatory amounts that relate to an actual increase in the capital of such Issuing Bank or such Lender undertaken by such Issuing Bank or such Lender more than 60
days prior to the date of such demand. A certificate as to such amounts setting forth the basis for the calculation of such amount submitted to the Borrower and the Agent by an Issuing Bank or a Lender shall be conclusive and binding for all
purposes, absent manifest error. 
 (c) Without prejudice to the survival of any other agreement of the Borrower
hereunder, the agreements and obligations of the Borrower contained in this Section 3.08 shall survive the payment in full (after the Termination Date) of all Obligations. 

(d) Without affecting its rights under Sections 3.08(a) or 3.08(b) or any other provision of this Agreement, the Issuing
Banks and each Lender agree that if there is any increase in any cost to or reduction in any amount receivable by the respective Issuing Bank or Lender with respect to which the Borrower would be obligated to compensate such Lender pursuant to
Sections 3.08(a) or 3.08(b), the respective Issuing Bank or Lender shall use reasonable efforts to select an alternative issuing office or Applicable Lending Office, as the case may be, which would not result in any such increase in any cost to or
reduction in any amount receivable by such Issuing Bank or such Lender; provided, however, that the Issuing Banks and each Lender shall not be obligated to select an alternative issuing office or Applicable Lending Office if the
respective Issuing Bank or such Lender determines that (i) as a result of such selection such Issuing Bank or such Lender would be in violation of any applicable law, regulation, treaty, or guideline, or would incur additional costs or expenses
or (ii) such selection would be inadvisable for regulatory reasons or inconsistent with the interests of such Issuing Bank or such Lender. 

SECTION 3.09 Uniform Customs and Practice. The Uniform Customs and Practice for Documentary Credits as most recently published by
the International Chamber of Commerce (“UCP”) shall in all respects be deemed a part of this Article III as if incorporated herein and shall apply to the Letters of Credit. 

SECTION 3.10 Reductions and Increases in Issuing Commitment. (a) The Borrower shall have the right, upon at least three
Business Days’ notice to the Issuing Banks and the Agent, to irrevocably reduce in whole or in part an Issuing Bank’s Issuing Commitment, provided, that, each partial reduction shall be in the aggregate amount of $10,000,000 or an integral
multiple of $1,000,000 in excess thereof and no such reduction shall reduce such Issuing 
  

 37 

 
Bank’s Issuing Commitment below the then outstanding aggregate amount of all Letter of Credit Liability in respect of Letters of Credit Issued by such Issuing Bank. 

(b) The Borrower may at any time, upon at least five Business Days’ prior written notice to the respective Issuing
Bank and the Agent, increase the Issuing Commitment of an Issuing Bank and at the same time reduce by an equivalent amount the Issuing Commitment of one or more of the other Issuing Banks; provided, that such notice is consented to by each Issuing
Bank affected by such increase and decrease and provided, further, that the Agent shall record each such increase and decrease of the Issuing Commitment of the respective Issuing Bank in the Register. 

SECTION 3.11 Existing Letters of Credit. There currently are outstanding certain Standby Letters of Credit issued pursuant to the
Existing Credit Agreement (collectively, the “Existing Letters of Credit”), the outstanding balance of each of which is set forth on Schedule IV (as such Schedule may be modified between the date hereof and the fifth Business Day
after the Effective Date). From and after the date hereof and upon fulfillment of the conditions to initial Issuance specified in Section 5.01, each such Existing Letter of Credit shall be deemed and treated for all purposes hereof (including,
without limitation, the calculation of fees payable under Section 3.06, and calculating the usage of the respective Issuing Bank’s commitment under Section 3.01) as a “Letter of Credit” hereunder, any participation
interest existing prior to the date hereof of any Lender in such Existing Letters of Credit shall, without further action on its part, be deemed extinguished in full and each Lender, without further act on its part, shall be deemed to have purchased
a participation in each such Existing Letter of Credit as provided in Section 3.05 in accordance with its Commitment Percentage. 

SECTION 3.12 Currency Provisions. 

(a) Equivalents. For purposes of the provisions of Article II and III, (i) the equivalent in Dollars of any
Alternative Currency shall be determined by using the mean of the bid and offer quoted spot rates at which the respective Issuing Bank’s or Swing Line Lender’s principal office in New York, New York offers to exchange Dollars for such
Alternative Currency in New York, New York at 11:00 A.M. (New York City time) on the Business Day on which such equivalent is to be determined and (ii) the equivalent in any Alternative Currency of Dollars shall be determined by using the mean
of the bid and offer quoted spot rates at which such Issuing Bank’s or Swing Line Lender’s principal office in New York, New York offers to exchange such Alternative Currency for Dollars in New York, New York at 11:00 A.M. (New York City
time) on the Business Day on which such equivalent is to be determined. 
 (b) Issuing Banks’
Commitment/Lenders’ Commitments. For purposes of determining the unused portion of an Issuing Bank’s Issuing Commitment specified in Section 3.01 and of each Lender’s Commitment, the equivalent in Dollars of each Letter of
Credit issued by an Issuing Bank in an Alternative Currency as determined on the date of the Issuance of such Letter of Credit shall be the amount of such Issuing Bank’s Issuing Commitment used in connection with the Issuance of such Letter of
Credit and the resulting proportionate amount of each Lender’s Commitment used, such reduction to be calculated in accordance with its Commitment Percentage. Further adjustments shall 

 

 38 

 
be made with respect to the unused portion of an Issuing Bank’s Issuing Commitment to Issue Letters of Credit and each such Lender’s Commitment based upon fluctuations thereafter in the
value of the Alternative Currency of such Letter of Credit as provided in subsection (c) below. 
 (c)
Mark to Market. If, on any day, the equivalent in Dollars of the aggregate face amount of all Letters of Credit then outstanding (less the aggregate amount of cash collateral held by all the Issuing Banks with respect to outstanding Letters
of Credit) exceeds the total of (x) the Commitments then in effect minus (y) the sum of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to
usage), the Borrower shall, upon demand by the Agent, immediately deposit into the L/C Collateral Account, in Dollars, (i) the Dollar amount of such excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and
(B) 10% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which amount shall be held by the Agent as cash collateral for the Borrowers’ and LC
Subsidiaries’ obligations with respect to outstanding Letters of Credit. Amounts on deposit with the Agent as cash collateral in the L/C Collateral Account shall (so long as no Default has occurred and is continuing) be released to the Borrower
(1) if the Termination Date has not occurred, on the date on which the aggregate of all Letter of Credit Liability does not exceed 99% of the aggregate amount of the Commitments then in effect (without regard to any usage thereof) minus the sum
of the then outstanding aggregate amount of all Borrowings and the aggregate Swing Line Commitment then in effect (computed without giving regard to usage), or (2) if the Termination Date has occurred, in accordance with Section 3.14.

 (d) Monthly Report. Each Issuing Bank, on the last Business Day of each month until the Termination
Date, shall calculate the Letter of Credit Liability on such date (converting any amounts of the Letter of Credit Liability which are denominated in an Alternative Currency to Dollars for purposes of such calculation) and shall promptly send notice
of such Letter of Credit Liability to the Agent, the Borrower and each Lender, and the Agent shall then determine the excess amount, if any, referred to in the first sentence of Section 3.12(c) above and shall promptly inform the Borrower of
such amount and the Borrower shall promptly upon receipt thereof make the payments provided for in Section 3.12(c) above if applicable. 

SECTION 3.13 Dollar Payment Obligation. Notwithstanding any other term or provision hereof to the contrary, if the Borrower or any
LC Subsidiary fails to reimburse the respective Issuing Bank for any payment made by such Issuing Bank under a Letter of Credit denominated in an Alternative Currency by the close of business on the Business Day when due at the Payment Office
specified for such reimbursement payment, then the payment made by such Issuing Bank in such Alternative Currency shall be converted into Dollars (the “Dollar Payment Amount”) by such Issuing Bank as provided for herein, and each of
the Borrower and each LC Subsidiary for whose account such Letter of Credit was Issued agrees that it shall be unconditionally obligated to, and shall immediately, reimburse such Issuing Bank the Dollar Payment Amount at such Issuing Bank’s
then Payment Office for Dollars. 
  

 39 

 SECTION 3.14 Applications; Survival of Provisions; Cash Collateral. This Agreement
shall control over any provision of any application and agreement for Letters of Credit to the contrary, but additive or supplemental provisions of any such application and agreement shall apply to each Letter of Credit Issued pursuant to such
application and agreement. The provisions in this Article shall survive the Termination Date in respect of all Letters of Credit outstanding thereafter. On the Termination Date, the Borrower shall deposit into the L/C Collateral Account cash (in
Dollars) in an amount equal to the Letter of Credit Liability (less the amount, if any, then on deposit in the L/C Collateral Account) as collateral security for the reimbursement of drawings thereunder which shall be used to reimburse the
respective Issuing Bank promptly upon a drawing under its respective Letter of Credit, with the respective portion thereof to be returned promptly to the Borrower when the respective Letter of Credit expires. 

SECTION 3.15 LC Subsidiaries. Any Subsidiary of the Borrower not an LC Subsidiary on the date hereof may become an “LC
Subsidiary” hereunder by delivering to the respective Issuing Bank (which shall promptly forward a copy thereof to each Lender and the Agent) an agreement, in form and substance satisfactory to such Issuing Bank, wherein such Subsidiary agrees
to be bound by all terms and provisions of this Agreement relating to Letters of Credit to be issued for the account of such Subsidiary and delivers a written consent of the Borrower assenting to the inclusion of such Subsidiary as an “LC
Subsidiary” hereunder. Unless objected to by the Majority Lenders within the 10 day period referred to below, such Subsidiary shall become an “LC Subsidiary” hereunder 10 days after such Issuing Bank notifies the Borrower that such
agreement and consent are in form and substance satisfactory to it; provided, that, no Subsidiary shall become an “LC Subsidiary” until such Issuing Bank shall have notified the Borrower in writing that such agreement and
consent are in form and substance satisfactory to such Issuing Bank. 
 ARTICLE IV 

PAYMENTS, TAXES, EXTENSIONS, ETC. 

SECTION 4.01 Payments and Computations. (a) Except as otherwise provided in Section 4.02, each Loan Party shall make
each payment hereunder with respect to the Credit Extensions, the Lender Parties and the Agent free and clear of all claims, charges, offsets or deductions whatsoever not later than: 

(i) If such payment relates to Advances, 1:00 P.M. (New York City time) on the day when due in U.S. dollars to the Agent
at its address referred to in Section 10.02 in same day funds; 
 (ii) If such payment relates to Letter of
Credit fees or other amounts due in respect of Letters of Credit (other than reimbursements for payments in an Alternative Currency made under Letters of Credit), 1:00 P.M. (New York City time) on the day when due in Dollars to the respective
Issuing Bank at its address referred to in Section 10.02 in same day funds; and 
  

 40 

 (iii) If such payment relates to reimbursement of a Letter of Credit
denominated in an Alternative Currency, (A) in such Alternative Currency, at the respective Issuing Bank’s Payment Office therefor so long as such payment is made by the close of business on the Business Day when due and
(B) thereafter in Dollars (at the then Dollar equivalent of the amount due on such preceding Business Day), by 1:00 P.M. (New York City time) to the respective Issuing Bank at its address referred to in Section 10.02 in same day funds as
provided in Section 3.13. 
 The Agent or the respective Issuing Bank, as the case may be, will promptly thereafter (if
amounts are owed to the Lenders by the terms hereof) cause to be distributed like funds relating to the payment of principal or interest or reimbursement obligations or Letter of Credit fees or facility or utilization fees ratably (other than
amounts payable pursuant to Sections 2.04(c), 2.07, 2.11, 3.04(a), 3.08 or 4.02) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to such Lender Party
to be distributed to the appropriate Lender or Lenders and applied in accordance with the terms of this Agreement. Upon the Agent’s acceptance of an Assignment and Acceptance and recording of the information contained therein in the Register
pursuant to Section 10.07(d), from and after the effective date specified in such Assignment and Acceptance, the Agent or the respective Issuing Bank, as the case may be, shall make all payments hereunder in respect of the interest assigned
thereby to the Lender assignee thereunder, and the parties to such Assignment and Acceptance shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves. 

(b) Each of the Loan Parties hereby authorizes the Agent and each Lender Party if and to the extent payment owed to the
Agent or such Lender Party (including the immediate repayments of participations purchased and funded by a Lender pursuant to Section 3.05) is not paid when due hereunder to charge from time to time against any or all of such Loan Party’s
accounts with the Agent or such Lender Party any amount so due (it being understood and agreed that, notwithstanding anything in this Agreement or any of the other Loan Documents to the contrary, accounts, deposits, sums, securities or other
property of any Foreign Subsidiary or of any Subsidiary of a Foreign Subsidiary (including any Foreign Subsidiary or any Subsidiary of a Foreign Subsidiary that is a Subsidiary Borrower or LC Subsidiary) will not serve at any time, directly or
indirectly, to collateralize or otherwise offset the Obligations of the Borrower or any Domestic Subsidiary, and, in addition, unless otherwise agreed to by the Borrower, the accounts, deposits, sums, securities or other property of a Foreign
Subsidiary or Subsidiary of a Foreign Subsidiary will only serve to collateralize or offset the Obligations of another Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is a Subsidiary Borrower or LC Subsidiary if such former Foreign
Subsidiary or Subsidiary of a Foreign Subsidiary is owned by such latter Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is a Subsidiary Borrower or LC Subsidiary). 

(c) All computations of interest based on the Base Rate and of facility fees shall be made by the Agent or the respective
Issuing Bank, as the case may be, on the basis of a year of 365 or 366 days, as the case may be, and all computations of interest 

 

 41 

 
relating to utilization fees, or based on the Eurodollar Rate or the Federal Funds Rate shall be made by the Agent, and all computations of interest pursuant to Section 2.07 shall be made by
a Lender and all computations of Letter of Credit fees shall be made by the respective Issuing Bank, in each case on the basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the
period for which such interest or fees are payable. Each determination by the Agent, by an Issuing Bank or, in the case of Section 2.07, by a Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest
error. 
 (d) Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such
payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility, utilization or Letter of Credit fee, as the case may be; provided,
however, if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. 

(e) Unless the Agent or the respective Issuing Bank, as the case may be, shall have received notice from a Loan Party
prior to the date on which any payment is due to the respective Lender Party or Lender Parties hereunder that such Loan Party will not make such payment in full, the Agent or such Issuing Bank may assume that the Loan Party has made such payment in
full to the Agent or such Issuing Bank on such date and the Agent or such Issuing Bank may, in reliance upon such assumption, cause to be distributed to such Lender Party or Lender Parties on such due date an amount equal to the amount then due such
Lender Party or Lender Parties. If and to the extent that the respective Loan Party shall not have so made such payment in full to the Agent or the respective Issuing Bank, as the case may be, each such Lender Party shall repay to the Agent or such
Issuing Bank forthwith on demand such amount distributed to such Lender Party together with interest thereon, for each day from the date such amount is distributed to such Lender Party until the date such Lender Party repays such amount to the Agent
or such Issuing Bank, at the Federal Funds Rate. 
 SECTION 4.02 Taxes. (a) Any and all payments by the Borrower,
each Subsidiary Borrower and each LC Subsidiary hereunder shall be made free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto,
excluding, in the case of each Lender Party and the Agent, taxes imposed on its overall net income, and franchise taxes imposed on such Lender Party or the Agent, by the jurisdiction under the laws of which such Lender Party or the Agent (as
the case may be) is organized or any political subdivision thereof and, in the case of each Lender Party, taxes imposed on its overall net income, and franchise taxes imposed on such Lender Party, by the jurisdiction of such Lender Party’s
Applicable Lending Office or any political subdivision thereof (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”). If the Borrower, any
Subsidiary Borrower or any LC Subsidiary shall be required by applicable Requirements of Law to deduct any Taxes from or in respect of any sum payable under any Loan Document to any Lender Party or the Agent, (i) the sum payable shall be
increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable 

 

 42 

 
under this Section 4.02) such Lender Party or the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the
Borrower, such Subsidiary Borrower or such LC Subsidiary, as the case may be, shall make such deductions, (iii) the Borrower, the respective Subsidiary Borrower or the respective LC Subsidiary, as the case may be, shall pay the full amount
deducted to the relevant taxation authority or other authority in accordance with applicable Requirements of Law and (iv) as soon as practicable after the date of any payment of Taxes, the Borrower, the respective Subsidiary Borrower or the
respective LC Subsidiary, as the case may be, shall furnish to the Agent or the respective Issuing Bank, as the case may be, at its respective address referred to in Schedule I-B, the original or a certified copy of a receipt evidencing payment
thereof, to the extent such a receipt is issued therefore, or other evidence of payment thereof that is reasonably satisfactory to the Agent or such Issuing Bank. 

(b) In addition, the Borrower agrees to pay any present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, performance under or otherwise with respect to, this Agreement or the Letters of Credit (hereinafter referred
to as “Other Taxes”). 
 (c) The Borrower, the respective Subsidiary Borrower or the respective
LC Subsidiary, as the case may be, will indemnify each of the Lender Parties and the Agent for the full amount of Taxes and Other Taxes (including, without limitation, any Taxes of any kind imposed or asserted by any jurisdiction on amounts payable
under this Section 4.02) imposed on or paid by such Lender Party or the Agent (as the case may be) and any liability (including penalties, additions to tax, interest and expenses) arising therefrom or with respect thereto, whether or not such
Taxes or Other Taxes were correctly or legally asserted. A reimbursement shall be made within 30 days from the date such Lender Party or the Agent (as the case may be) makes written demand therefor. The Agent and each Lender Party, as the case may
be, shall give prompt (within 10 Business Days) notice to the Borrower of the payment by the Agent or such Lender Party, as the case may be, of such amounts payable by the Borrower under the indemnity set forth in this subsection (c), and of the
assertion by any governmental or taxing authority that such amounts are due and payable, but the failure to give such notice shall not affect the Borrower’s, any Subsidiary Borrower’s or any LC Subsidiary’s obligations hereunder to
reimburse the Agent and each Lender Party for such Taxes or Other Taxes or Taxes imposed or asserted on amounts payable under this Section 4.02, except that none of the Borrower, any Subsidiary Borrower or any LC Subsidiary shall be liable for
penalties or interest accrued or incurred from the commencement of such 10 Business Day period until 10 Business Days after it receives the notice contemplated above, after which time it shall be liable for interest and penalties accrued or incurred
prior to such 10 Business Day period and accrued or incurred beginning 10 Business Days after such receipt. Neither the Borrower nor any Subsidiary Borrower shall be liable for any penalties, interest, expense or other liability with respect to such
Taxes or Other Taxes after it has reimbursed the amount thereof to the Agent or the appropriate Lender Party. 

(d) Each Lender Party organized under the laws of a jurisdiction outside the United States, on or prior to the date of its
execution and delivery of this Agreement in 
  

 43 

 
the case of each initial Lender Party and on the date of the Assumption Agreement or the Assignment and Acceptance, respectively, pursuant to which it becomes a Lender Party in the case of each
other Lender Party, and from time to time thereafter if requested in writing by the Borrower (but only so long as such Lender Party remains lawfully able to do so), shall provide the Borrower with Internal Revenue Service form W-8BEN or W-8ECI, as
appropriate, or any successor form prescribed by the Internal Revenue Service, certifying that such Lender Party is entitled to benefits under an income tax treaty to which the United States is a party which reduces the rate of withholding tax on
payments of interest payable by the Borrower or certifying that the interest is effectively connected with the conduct of a trade or business in the United States. Similarly, with respect to each Subsidiary Borrower and LC Subsidiary organized under
the laws of a jurisdiction outside of the United States, each Lender Party, on or prior to the date of its execution and delivery of this Agreement in the case of each initial Lender Party and on the date of the Assumption Agreement or the
Assignment and Acceptance, respectively, pursuant to which it becomes a Lender Party in the case of each other Lender Party, and from time to time thereafter if requested in writing by the Borrower, such Subsidiary Borrower or such LC Subsidiary
(but only so long as such Lender Party remains lawfully able to do so), shall provide the Borrower, such Subsidiary Borrower or such LC Subsidiary with appropriate documentation certifying applicable exemptions from withholding tax imposed by any
jurisdiction on payments of interest payable by such Subsidiary Borrower or LC Subsidiary. If the forms provided by a Lender Party at the time such Lender Party first becomes a party to this Agreement indicate a withholding tax (including, without
limitation, United States interest withholding tax) rate in excess of zero, withholding tax at such rate shall be considered excluded from “Taxes” unless and until such Lender Party provides the appropriate forms certifying that a lesser
rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for periods governed by such forms; provided, however, that, if at the date of the Assumption Agreement or the Assignment
and Acceptance, respectively, pursuant to which a Lender Party becomes a party to this Agreement, the Lender Party assignor was entitled to payments under Section 4.02(a) in respect of withholding tax with respect to interest paid at such date,
then, to such extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includible in Taxes) withholding tax, if any, applicable with respect to the Lender Party assignee on
such date. 
 (e) For any period with respect to which a Lender Party has failed to provide the Borrower, any
Subsidiary Borrower or any LC Subsidiary with the appropriate form described in Section 4.02(d) (other than if such failure is due to a change in law occurring subsequent to the date on which a form originally was required to be
provided, or if such form otherwise is not required under the first two sentences of Section 4.02(d)), such Lender Party shall not be entitled to indemnification, and for purposes of clarification, none of the Borrower, any Subsidiary Borrower
or any LC Subsidiary shall be required to increase any amounts payable to such Lender Party under Section 4.02(a) or 4.02(c) with respect to Taxes or Other Taxes imposed by any jurisdiction (including, without limitation, the United States);
provided, however, that should a Lender Party become subject to Taxes or Other Taxes because of its failure to deliver a form required 

 

 44 

 
hereunder, the Borrower shall take such steps as the Lender Party shall reasonably request to assist the Lender Party to recover such Taxes or Other Taxes. 

(f) Without affecting its rights under this Section 4.02 or any provision of this Agreement, each Lender Party agrees
that if any Taxes or Other Taxes are imposed and required by law to be paid or to be withheld from any amount payable to any Lender Party or its Applicable Lending Office with respect to which the Borrower, any Subsidiary Borrower or any LC
Subsidiary would be obligated pursuant to this Section 4.02 to increase any amounts payable to such Lender Party or to pay any such Taxes or Other Taxes, such Lender Party shall use reasonable efforts to select an alternative Applicable Lending
Office which would not result in the imposition of such Taxes or Other Taxes; provided, however, that no Lender Party shall be obligated to select an alternative Applicable Lending Office if such Lender Party determines that as a
result of such selection such Lender Party would be in violation of an applicable law, regulation, or treaty, or would incur unreasonable additional costs or expenses. 

(g) In the event that an additional payment is made under this Section 4.02 for the account of any Lender Party and
such Lender Party, in its sole discretion, determines that it has finally and irrevocably received or been granted a credit against or release or remission for, or repayment of, any tax paid or payable by it in respect of or calculated with
reference to the deduction or withholding giving rise to such payment, such Lender Party shall, to the extent that it determines that it can do so without prejudice to the retention of the amount of such credit, relief, remission or repayment, pay
to the Borrower, Subsidiary Borrower or LC Subsidiary, as the case may be, such amount as such Lender Party shall, in its sole discretion, have determined to be attributable to such deduction or withholding and which will leave such Lender Party
(after such payment) in no worse position than it would have been in if the Borrower, Subsidiary Borrower or LC Subsidiary had not been required to make such deduction or withholding. Nothing herein contained shall interfere with the right of a
Lender Party to arrange its tax affairs in whatever manner it thinks fit nor oblige any Lender Party to claim any tax credit or to disclose any information relating to its tax affairs or any computations in respect thereof or require any Lender
Party to do anything that would prejudice its ability to benefit from any other credits, reliefs, remissions or repayments to which it may be entitled. 

(h) Each Lender Party agrees with the Borrower that it will take all reasonable actions by all usual means (i) to
secure and maintain the benefit of all benefits available to it under the provisions of any applicable double tax treaty concluded by the United States of America to which it may be entitled by reason of the location of such Lender Party’s
Applicable Lending Office or place of incorporation or its status as an enterprise of any jurisdiction having any such applicable double tax treaty, if such benefit would reduce the amount payable by the Borrower, any Subsidiary Borrower or any LC
Subsidiary in accordance with this Section 4.02 and (ii) otherwise to cooperate with the Borrower to minimize the amount payable by the Borrower, any Subsidiary Borrower or any LC Subsidiary pursuant to this Section 4.02;
provided, however, that no Lender Party shall be obliged to disclose to the Borrower, any Subsidiary Borrower or any LC Subsidiary any information regarding its tax affairs or tax computations nor to reorder its tax affairs or tax
planning pursuant thereto. 
  

 45 

 (i) Without prejudice to the survival of any other agreement of the
Borrower, any Subsidiary Borrower or any LC Subsidiary hereunder, the agreements and obligations of the Borrower, the Subsidiary Borrowers and the LC Subsidiaries contained in this Section 4.02 shall survive the payment in full of the
Obligations. 
 SECTION 4.03 Sharing of Payments, Etc.. If any Lender Party shall obtain any payment (whether voluntary,
involuntary, through the exercise of any right of set-off, or otherwise) on account of the Advances made by it or any Letter of Credit Liability of any Loan Party hereunder (other than pursuant to Section 2.07, 2.11, 3.08 or 4.02) in excess of
its Commitment Percentage of any such payments on account of the Advances or such Letter of Credit Liability obtained by all the Lender Parties, such Lender Party shall forthwith purchase from the other Lender Parties such participations in the
Advances made by them or in such other Lender Parties’ participations purchased pursuant to Section 3.05, as the case may be, as shall be necessary to cause such purchasing Lender Party to share the excess payment ratably with each other
Lender Party, provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender Party, such purchase from each other Lender Party shall be rescinded and each such Lender Party
shall repay to the purchasing Lender Party the purchase price to the extent of such recovery together with an amount equal to each such Lender Party’s ratable share (according to the proportion of (i) the amount of such Lender Party’s
required repayment to (ii) the total amount so recovered from the purchasing Lender Party) of any interest or other amount paid or payable by the purchasing Lender Party in respect of the total amount so recovered. Each of the Loan Parties
agrees that any Lender Party so purchasing a participation or sub-participation from another Lender Party pursuant to this Section 4.03 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of
set-off) with respect to such participation or sub-participation as fully as if such Lender Party were the direct creditor of the respective Loan Party in the amount of such participation. 

SECTION 4.04 Evidence of Debt/Borrowings. (a) Each Lender Party shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender Party resulting from each Advance owing to such Lender Party from time to time, including the amounts of principal and interest payable and paid to such Lender Party from
time to time hereunder. 
 (b) The Register maintained by the Agent pursuant to Section 10.07(c) shall
include a control account, and a subsidiary account for each Lender Party, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising such Borrowing and the
Interest Period applicable thereto, (ii) the terms of each Assignment and Acceptance delivered to and accepted by it, (iii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each
Lender Party hereunder, and (iv) the amount of any sum received by the Agent from the Borrower hereunder and each Lender Party’s share thereof. 

(c) The entries made in the Register shall be conclusive and binding for all purposes, absent manifest error. 

 

 46 

 SECTION 4.05 Borrower Guaranty. 

(a) Generally. The Swing Line Lenders and Issuing Banks may, from time to time, make Credit Extensions for the
account of each Subsidiary Borrower and LC Subsidiary as provided herein, provided, that, the repayment, reimbursement and other obligations of each such Subsidiary Borrower or LC Subsidiary in respect of such Credit Extensions are and
remain unconditionally guaranteed by the Borrower pursuant to this Section 4.05. 
 (b) Guaranty. The
Borrower hereby unconditionally and irrevocably guarantees the punctual payment when due, whether at stated maturity, by acceleration or otherwise, of all obligations of the Subsidiary Borrowers and the LC Subsidiaries now or hereafter existing
under this Agreement with respect to the Letter of Credit Liabilities and Credit Extensions issued for the account of any of the Subsidiary Borrowers and LC Subsidiaries, including any extensions, modifications, substitutions, amendments and
renewals thereof, whether for repayment or reimbursement obligations, interest, fees, expenses or otherwise (such obligations being the “Subsidiary Obligations”), and agrees to pay any and all expenses (including reasonable counsel
fees and expenses in accordance with Section 10.04) incurred by the Swing Line Lenders or the Lenders in enforcing any rights hereunder with respect to the Subsidiary Obligations. Without limiting the generality of the foregoing, the
Borrower’s liability shall extend to all amounts which constitute part of the Subsidiary Obligations and would be owed by any Subsidiary Borrower or LC Subsidiary to the Swing Line Lenders, the Issuing Banks or the Lenders hereunder, or under
the Credit Extensions issued for the account of a Subsidiary Borrower or LC Subsidiary, but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such
Subsidiary Borrower or LC Subsidiary. 
 (c) Guaranty Absolute. The Borrower guarantees that the
Subsidiary Obligations will be paid strictly in accordance with their respective terms, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Swing Line Lenders,
the Issuing Banks or the Lenders with respect thereto. The obligations of the Borrower hereunder are independent of the Subsidiary Obligations and a separate action or actions may be brought and prosecuted against the Borrower to enforce the
guaranty contained in this Section 4.05, irrespective of whether any action is brought against any Subsidiary Borrower or LC Subsidiary or whether any Subsidiary Borrower or LC Subsidiary is joined in any such action or actions. The liability
of the Borrower under the guaranty contained in this Section 4.05 shall be absolute and unconditional irrespective of: 

(i) any lack of validity or enforceability of any of the Subsidiary Obligations or any agreement or instrument relating
thereto against any Subsidiary Borrower or any other Person; 
 (ii) any change in the time, manner or place of
payment of, or in any other term of, all or any of the Subsidiary Obligations or any other amendment or waiver of or any consent to departure with respect to Credit Extensions issued for 

 

 47 

 
the account of a Subsidiary Borrower or LC Subsidiary including, without limitation, any increase in the Subsidiary Obligations resulting from the Issuance of Credit Extensions beyond the
aggregate limitation specified in Section 2.01 to any and all Subsidiary Borrowers and LC Subsidiaries or otherwise; 

(iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of
or consent to departure from any other guaranty, for all or any of the Subsidiary Obligations; 
 (iv) any manner
of application of collateral, or proceeds thereof, to all or any of the Subsidiary Obligations, or any manner of sale or other disposition of any collateral for all or any of the Subsidiary Obligations or any other assets of a Subsidiary Borrower or
an LC Subsidiary; 
 (v) any change, restructuring or termination of the corporate structure or existence of a
Subsidiary Borrower or an LC Subsidiary or any Subsidiary Borrower’s or LC Subsidiary’s lack of corporate power or authority; or 

(vi) any other circumstance which might otherwise constitute a defense available to, or a discharge of, a third party
guarantor. 
 The guaranty provided in this Section 4.05 shall continue to be effective or be reinstated, as the case may be, if at any
time any payment of any of the Subsidiary Obligations is rescinded or must otherwise be returned by any Swing Line Lender, any Issuing Bank or any Lender, respectively, upon the insolvency, bankruptcy or reorganization of a Subsidiary Borrower or an
LC Subsidiary or otherwise, all as though such payment had not been made. 
 (d) Waivers. The Borrower
hereby waives, to the extent permitted by applicable law: 
 (i) any requirement that any Swing Line Lender or
Issuing Bank secure or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against any Subsidiary Borrower or LC Subsidiary or any other Person or any collateral; 

(ii) any defense arising by reason of any claim or defense based upon an election of remedies by any Swing Line Lender or
Issuing Bank (including, without limitation, an election to nonjudicially foreclose on any real or personal property collateral) which in any manner impairs, reduces, releases or otherwise adversely affects its subrogation, reimbursement or
contribution rights or other rights to proceed against any Subsidiary Borrower or LC Subsidiary or any other Person or any collateral; 

(iii) any defense arising by reason of the failure of any Subsidiary Borrower or LC Subsidiary to properly execute any
letter of credit application and agreement or otherwise comply with applicable legal formalities; 
  

 48 

 (iv) any defense or benefits that may be derived from California Civil Code
§§ 2808, 2809, 2810, 2819, 2845 or 2850, or California Code of Civil Procedure §§ 580a, 580d or 726, or comparable provisions of the laws of any other jurisdiction and all other suretyship defenses it would otherwise have under
the laws of California or any other jurisdiction; 
 (v) any duty on the part of any Swing Line Lender or
Issuing Bank to disclose to the Borrower any matter, fact or thing relating to the business, operation or condition of any Subsidiary Borrower or LC Subsidiary or its assets now known or hereafter known by any Swing Line Lender or Issuing Bank;

 (vi) all benefits of any statute of limitations affecting the Borrower’s liability under or the
enforcement of the guaranty provided in this Section 4.05 or any of the Subsidiary Obligations or any collateral; 

(vii) all setoffs and counterclaims; 

(viii) promptness, diligence, presentment, demand for performance and protest; 

(ix) notice of nonperformance, default, acceleration, protest or dishonor; 

(x) except for any notice otherwise required by applicable laws that may not be effectively waived by the Borrower, notice
of sale or other disposition of any collateral; and 
 (xi) notice of acceptance of the guaranty provided in this
Section 4.05 and of the existence, creation or incurring of new or additional Subsidiary Obligations. 
 ARTICLE V

 CONDITIONS OF LENDING 

SECTION 5.01 Conditions Precedent to Effectiveness of this Agreement. This Agreement shall become effective on and as of the first
date (the “Effective Date”) on which the following conditions precedent have been satisfied: 

(a) The Agent shall have received the following in form and substance satisfactory to the Agent: 

(i) Executed counterparts of this Agreement, sufficient in number for distribution by the Agent to each of the Lenders and
the Borrower. 
 (ii) The notes to the order of the Lenders to the extent requested by any Lender pursuant to
Section 2.02(g). 
  

 49 

 (iii) Certified copies of the resolutions of the board of directors (or
persons performing similar functions) of each domestic Loan Party approving the Agreement and each of the Loan Documents to which it is or is to be a party. 

(iv) A copy of a certificate of the Secretary of State (or equivalent Governmental Authority) of the jurisdiction of
organization of each domestic Loan Party listing the certificate or articles of incorporation (or similar Constitutive Document) of each such Loan Party and each amendment thereto on file in the office of such Secretary of State (or such
governmental authority) and certifying (A) that such amendments are the only amendments to such Person’s certificate or articles of incorporation (or similar constitutive document) on file in its office, (B) if customarily available
in such jurisdiction, that such Person has paid all franchise taxes (or the equivalent thereof) to the date of such certificate and (C) that such Person is duly organized and is in good standing under the laws of the jurisdiction of its
organization. 
 (v) A certificate of the Secretary or an Assistant Secretary of each domestic Loan Party
certifying the names and true signatures of the officers of such Loan Party authorized to sign each Loan Document to which it is a party and the other documents to be delivered hereunder. 

(vi) A favorable opinion of General Counsel or Associate General Counsel to the Loan Parties, substantially in the form of
Exhibit D-1 and as to such other matters as any Lender through the Agent may reasonably request. 
 (vii) A
favorable opinion of Skadden, Arps, Slate, Meagher & Flom LLP, special New York counsel to the Loan Parties, in substantially the form of Exhibit D-2 and as to such other matters as any Lender through the Agent may reasonably request.

 (viii) A favorable opinion of Shearman & Sterling LLP, special New York counsel to the Agent, in
substantially the form of Exhibit E and as to such other matters as any Lender through the Agent may reasonably request. 

(ix) Evidence that the Borrower has terminated the commitments of the lenders, and has paid in full all debt outstanding,
under the Existing Credit Agreement and each of the Lenders that is a party to the Existing Credit Agreement hereby waives, by execution of this Agreement, the requirement of prior notice under the Existing Credit Agreement relating to the
termination of commitments thereunder. 
 (x) Such other documents as the Agent may reasonably request.

 (b) The Borrower shall have paid all accrued fees and expenses of the Agent and the Lenders (including the
accrued fees and expenses of counsel to the Agent). 
 (c) All amounts owing by the Borrower or any of its
Subsidiaries to the lenders and agents under the Existing Credit Agreement shall have been, or concurrently 
  

 50 

 
with the initial extension of credit made on the Effective Date shall be, paid in full, and all commitments of the lenders under the Existing Credit Agreement (except for the Existing Letters of
Credit issued thereunder) shall have been, or concurrently with the initial extension of credit made on the Effective Date shall be, terminated in accordance with the terms of the Existing Credit Agreement, and all guarantees given, and all security
interests granted, in connection therewith shall have been terminated. 
 SECTION 5.02 Conditions Precedent to Each
Advance/Issuance. The obligation of each Lender to make an Advance (including a Swing Line Advance), including on the occasion of each Borrowing (including the initial Borrowing), and the obligation of each Issuing Bank to Issue each Letter of
Credit (including the initial Letter of Credit) shall be subject to the further conditions precedent that on the date of such Advance or Issuance the following statements shall be true (and each of the giving of the applicable Notice of Borrowing
and the acceptance by the Borrower or the respective Subsidiary Borrower of the proceeds of such Advance and the request for Issuance by the Borrower, a Subsidiary Borrower or an LC Subsidiary shall constitute a representation and warranty by the
Borrower, such Subsidiary Borrower or such LC Subsidiary that on the date of such Borrowing or Issuance such statements are true): 

(a) The representations and warranties contained in Section 6.01 (other than the representations and warranties
contained in Section 6.01(e) and in Section 6.01(g)) are correct on and as of the date of such Borrowing or Issuance, before and after giving effect to such Borrowing or Issuance, and to the application of the proceeds therefrom, as though
made on and as of such date, except to the extent that any such representation or warranty is stated to relate to an earlier date, in which case such representation or warranty shall be true and correct on and as of such earlier date; 

(b) No event has occurred and is continuing, or would result from such Borrowing or from the application of the
proceeds therefrom or from such Issuance, which constitutes an Event of Default or Default; and 
 (c) The
making of such Advance will be in compliance with the respective criteria set forth in Section 2.01(a) and Section 2.01(b)(i) and (ii), as the case may be, or the Issuance of such Letter of Credit will be in compliance with the criteria
set forth in Section 3.01(a)(i) and (ii), as the case may be. 
 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

SECTION 6.01 Representations and Warranties of the Borrower. The Borrower represents and warrants as follows: 

(a) Corporate Status. Each Loan Party is duly organized or formed, validly existing and in good standing under the
laws of its jurisdiction of incorporation or organization and possesses all powers (corporate or otherwise) and all other 
  

 51 

 
authorizations and licenses necessary to carry on its business, except where the failure to so possess would not have a Material Adverse Effect. 

(b) Corporate Authority; Non-Contravention. The execution, delivery and performance by each Loan Party of the Loan
Documents to which it is a party and the consummation of the transactions contemplated thereby are within such Loan Party’s respective powers (corporate or otherwise), have been duly authorized by all necessary action (corporate or otherwise),
and do not (i) contravene such Loan Party’s Constitutive Documents, (ii) violate any Requirements of Law, (iii) conflict with or result in the breach of, or constitute a default or require any payment to be made under, any
material contract, loan agreement, indenture, mortgage, deed of trust, lease or other material instrument binding on or affecting any Loan Party or any of its properties or (iv) result in or require the creation or imposition of any Lien upon
or with respect to any of the properties of any Loan Party. No Loan Party is in violation of any such Requirements of Law or in breach of any such contract, loan agreement, indenture, mortgage, deed of trust, lease or other instrument, the violation
or breach of which would be reasonably likely to have a Material Adverse Effect. 
 (c) Authorization. No
authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by any Loan Party of the Loan Documents to which it is a party.

 (d) Binding Effect. Each Loan Document is the legal, valid and binding obligation of the Loan Party
thereto enforceable against such Loan Party in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general
principles of equity (regardless of whether considered in a proceeding in equity or at law). 
 (e)
Litigation. There is no pending or, to the Borrower’s knowledge, threatened action or proceeding affecting the Borrower or any of its Subsidiaries before any court, governmental agency or arbitrator, (i) which has a reasonable
probability (taking into account the exhaustion of all appeals and the assertion of all defenses) of having a Material Adverse Effect or (ii) which purports to affect the legality, validity or enforceability of any Loan Document. 

(f) Financial Statements. The Consolidated balance sheets of the Borrower and its Subsidiaries as of
January 31, 2004, and the related Consolidated statements of income and retained earnings of the Borrower and its Subsidiaries for the Fiscal Year then ended, certified by Deloitte & Touche LLP, copies of which have been furnished to
each Lender Party, fairly present the Consolidated financial condition of the Borrower and its Subsidiaries as at such date and the results of the operations of the Borrower and its Subsidiaries for the period ended on such date, all in accordance
with GAAP consistently applied. 
  

 52 

 (g) Material Adverse Change. Since January 31, 2004, there has
been no Material Adverse Change. 
 (h) Compliance With Law. Each of Borrower and its Subsidiaries is in
compliance with all Requirements of Law (including, without limitation, all applicable Environmental Laws) applicable to their respective properties, assets and business other than (i) where the failure to so comply would (as to all such
failures to comply in the aggregate) not have a Material Adverse Effect or (ii) as described on Schedule VIII. 

(i) ERISA. Except as provided in Schedule VII: 

(i) Neither the Borrower nor any ERISA Affiliate is a party or subject to, or has any obligation to make payments, or
incur any material Withdrawal Liability, to, any Multiemployer Plan. 
 (ii) Schedule B (Actuarial Information)
to the most recently completed annual report (Form 5500 Series) for each Plan of the Borrower or its Subsidiaries, copies of which have been or will be filed with the Internal Revenue Service, is complete and accurate in all material respects and
fairly presents the funding status of such Plan, and since the date of such Schedule B there has been no material adverse change in such funding status which would reasonably be likely to result in a Material Adverse Effect. 

(iii) No ERISA Event has occurred with respect to any Plan that, when taken together with all other such ERISA Events for
which liability is reasonably expected to occur, would reasonably be likely to result in a Material Adverse Effect. 

(iv) Neither the Borrower nor any ERISA Affiliate has been notified by the sponsor of a Multiemployer Plan that such
Multiemployer Plan is in reorganization or has been terminated, within the meaning of Title IV of ERISA and no Multiemployer Plan is reasonably expected to be in reorganization or to be terminated, within the meaning of Title IV of ERISA.

 (j) Federal Reserve Regulations. The Borrower is not engaged in the business of extending credit for
the purpose of purchasing or carrying Margin Stock, and no proceeds of any Advance or drawing under any Letter of Credit will be used to purchase any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin
Stock. 
 (k) Investment Company. Neither the Borrower nor any of its Subsidiaries is an “investment
company,” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended. 

(l) Disclosure. As of the Effective Date, neither the Information Memorandum nor any other information, exhibit or
report furnished by any Loan Party to the Agent or any Lender Party in connection with the negotiation and syndication of the 
  

 53 

 
Loan Documents or pursuant to the terms of the Loan Documents contained any untrue statement of a material fact or omitted to state a material fact necessary to make the statements made therein
not misleading; provided that all financial projections, if any, that have been or will be prepared by the Borrower and made available to the Joint Lead Arrangers, the Agent, any Lender or any potential Lender, or any other party hereto, have been
or will be prepared in good faith based upon reasonable assumptions, it being understood by the Lenders and all the other parties hereto that such projections are subject to significant uncertainties and contingencies, many of which are beyond the
Borrower’s control, and that no assurances can be given that the projections will be realized. 
 ARTICLE VII 

COVENANTS OF THE BORROWER 

SECTION 7.01 Affirmative Covenants. The Borrower will, unless the Majority Lenders shall otherwise consent in writing: 

(a) Preservation of Existence, Etc. Preserve and maintain, and cause each of its Subsidiaries to preserve and
maintain, its existence (corporate or otherwise), rights (charter and statutory), and franchises except if, in the reasonable business judgment of the Borrower or such Subsidiary, as the case may be, it is in its best economic interest not to
preserve and maintain such rights or franchises and such failure to preserve and maintain such rights or franchises would not materially adversely affect the rights of the Lenders or the Issuing Banks hereunder or the ability of any Loan Party to
perform its obligations under the respective Loan Documents (it being understood that the foregoing shall not prohibit, or be violated as a result of, any transactions by or involving any Loan Party or other Subsidiary otherwise permitted under
Section 7.02). 
 (b) Compliance with Laws, Etc. Comply, and cause each of its Subsidiaries to
comply, in all material respects with all applicable laws (including, without limitation, ERISA and all Environmental Laws), rules, regulations and orders, such compliance to include, without limitation, paying before the same become delinquent all
taxes, assessments and governmental charges imposed upon it or upon its property except to the extent contested in good faith or where the failure to comply would not have a Material Adverse Effect. 

(c) Visitation Rights. Permit, and cause each of its Subsidiaries to permit, the Agent or any other Lender Party,
or any agents or representatives thereof, from time to time, during normal business hours, and upon reasonable prior notice, to examine and make copies of and abstracts from its records and books of account, to visit its properties, and to discuss
the affairs, finances and accounts of the Borrower and its Subsidiaries with any of their respective directors, officers or agents. 

(d) Maintenance of Books and Records. Keep, and cause each of its Subsidiaries to keep, proper books of record and
account, in which full and correct entries 
  

 54 

 
shall be made of all financial transactions and the assets and business of the Borrower and each of its Subsidiaries in accordance with sound business practice. 

(e) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its Subsidiaries to maintain and
preserve, all of its properties which are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted, consistent with sound business practice, except where the failure to so maintain and
preserve would not have a Material Adverse Effect. 
 (f) Maintenance of Insurance. Maintain, and cause
each of its Subsidiaries to maintain, insurance (other than earthquake or terrorism insurance) in amounts, from responsible and reputable insurance companies or associations, with limitations, of types and on terms as is customary for the industry;
provided, that, the Borrower and each of its Subsidiaries may self-insure risks and liabilities in accordance with its practice as of the date hereof and may in addition self-insure risks and liabilities in amounts as are customarily self-insured by
similarly situated Persons in the industry. 
 (g) Use of Proceeds. Use the proceeds of the Advances and
issuances of Letters of Credit solely to repay amounts owing under the Existing Credit Agreement and for general corporate purposes of the Borrower and its Subsidiaries, including, without limitation, commercial paper backup. 

SECTION 7.02 Negative Covenants. The Borrower will not, without the written consent of the Majority Lenders: 

(a) Liens, Etc. Create or suffer to exist, or permit any of its Subsidiaries to create or suffer to exist, any Lien
(including an assignment of any right to receive income), other than: 
 (i) Permitted Liens; 

(ii) Liens securing Debt in an aggregate outstanding principal amount, or securing exposure under Hedge Agreements,
when aggregated (without duplication) with the outstanding principal amount of all Debt incurred under Section 7.02(b)(viii), not in excess at any time of 7.5% of the Consolidated Tangible Net Worth at the end of the immediately preceding
Fiscal Quarter; 
 (iii) Liens upon or in any real property, equipment, fixed asset or capital asset
acquired, constructed, improved or held by the Borrower or any Subsidiary in the ordinary course of business to secure the cost of acquiring, constructing or improving such property, equipment or asset or to secure Debt incurred solely for the
purpose of financing the acquisition of such property, equipment or asset, or Liens existing on such property, equipment or asset at the time of its acquisition (other than any such Liens created in contemplation of such acquisition, construction or
improvement that were not incurred to finance the acquisition, construction or improvement of such property, equipment or asset) or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided, however, that
no such Lien shall extend to or cover any 
  

 55 

 
properties of any character other than the real property, equipment or asset being acquired, constructed or improved, and no such extension, renewal or replacement shall extend to or cover any
properties not theretofore subject to the Lien being extended, renewed or replaced; 
 (iv) Liens upon
existing real property interests of the Borrower or any of its Subsidiaries to secure Debt in an aggregate principal amount not in excess of $600,000,000; 

(v) Liens existing on property prior to the acquisition thereof by the Borrower or any of its Subsidiaries in the
ordinary course of business or on property of a Person existing at the time such Person is merged into or consolidated with the Borrower or any Subsidiary of the Borrower or becomes a Subsidiary of the Borrower; provided that such Liens were not
created in contemplation of such merger, consolidation or acquisition and do not extend to any other assets of the Borrower or such Subsidiary, and the replacement, extension or renewal of any such Lien upon or in the same property subject thereto
or the replacement, extension or renewal (without increase in the amount, shortening the maturity or change in any direct or contingent obligor if such change would be adverse to the Borrower) of the Debt permitted hereunder secured thereby; and

 (vi) Liens securing obligations, in an aggregate amount outstanding at any time not in excess of
$1,600,000,000, arising under or from trade letters of credit issued (and outstanding) for the account of the Borrower or any of its Subsidiaries. 

(b) Subsidiary Debt. Permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Debt, except:

 (i) Debt under the Loan Documents; 

(ii) Debt in respect of the letters of credit referred to in Section 7.02(a)(vi); 

(iii) Debt incurred after the date of this Agreement and secured by Liens expressly permitted under Section 7.02(a)
(iii) hereof in an aggregate principal amount not to exceed, when aggregated with the principal amount of all Debt incurred under clause (iv) of this Section 7.02(b), $100,000,000 at any time outstanding; 

(iv) Capital Leases incurred after the date of this Agreement which, when the principal amount thereof is aggregated
with the principal amount of all Debt incurred under clause (iii) of this Section 7.02(b), do not exceed $100,000,000 at any time outstanding; 

(v) Debt referred to in Section 7.02(a)(iv) in a principal amount not in excess of the amount referred to
therein; 
  

 56 

 (vi) Debt existing on the Effective Date and described on Schedule IX
(“Existing Debt”), and any Debt extending the maturity of, or refunding, refinancing or replacing, in whole or in part, the Existing Debt; provided, that (A) the aggregate principal amount of such extended, refunding, refinancing or
replacement Debt shall not be increased above the principal amount of the Existing Debt and the premium, if any, thereon outstanding immediately prior to such extension, refunding, refinancing or replacement and (B) the direct and contingent
obligors of the Existing Debt shall not be changed as a result of or in connection with such extension, refunding, refinancing or replacement if such change would be adverse to the interests of the Borrower; 

(vii) Debt owed to the Borrower or to any Subsidiary of the Borrower; 

(viii) Debt not otherwise permitted under this Section 7.02(b) in an outstanding principal aggregate amount,
when aggregated (without duplication) with the outstanding principal amount of all Debt secured by Liens permitted under Section 7.02(a)(ii), not in excess at any time of 7.5% of the Consolidated Tangible Net Worth at the end of the immediately
preceding Fiscal Quarter; 
 (ix) Obligations of a Subsidiary of the Borrower under direct or indirect
guaranties in respect of, or obligations (contingent or otherwise) to purchase or acquire, or otherwise to assure a creditor against loss in respect of, Debt of another Subsidiary of the Borrower permitted under clauses (i) through
(viii) of this Section 7.02(b); and 
 (x) Endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business. 
 (c) Investments. Make, or permit
any of its Subsidiaries to make, an investment in any Person that is not a Loan Party or Subsidiary of any Loan Party by way of the purchase of such Person’s capital stock or securities or the making of capital contributions with respect
thereto (an “Investment”) unless, on the date of and after giving pro forma effect to such investment, the Borrower would be in compliance with the financial covenants set forth in Section 7.03. 

(d) Mergers, Etc. Merge or consolidate with or into any Person, or permit any of its Subsidiaries to do so, except
(i) any Subsidiary of the Borrower may merge or consolidate with or into the Borrower or any Subsidiary of the Borrower, (ii) the Borrower may merge with any other Person so long as the Borrower is the surviving corporation and
(iii) in connection with any transaction permitted by Section 7.02(c) or (e). 
 (e) Sale of
Assets. Sell, lease, transfer or otherwise dispose of, or permit any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, any assets, or grant any option or other right to purchase, lease or otherwise acquire any assets, in each
case to any Person that is not a Loan Party or a Subsidiary of any Loan Party, except (i) sales of inventory in the ordinary course of its business; (ii) the Borrower and its Subsidiaries

  

 57 

 
may, directly or indirectly through the Borrower or one or more of its Subsidiaries, sell, lease, transfer or otherwise dispose of any obsolete, damaged or worn-out property or any other property
that is otherwise no longer useful in the conduct of their business; (iii) the Borrower and its Subsidiaries may sell real property interests as part of one or more sale leaseback transactions provided that the value of such real property
interests shall not be in excess of $600,000,000 less, without duplication, the amount of Debt incurred as contemplated by Section 7.02(a)(iv) hereof; (iv) the Borrower and its Subsidiaries may sell cash equivalents and other similar
instruments in which it has invested from time to time; and (v) the Borrower and its Subsidiaries may sell, lease, transfer or otherwise dispose of property and assets so long as the aggregate fair market value of all such property and assets
sold, leased, transferred or otherwise disposed of pursuant to this clause (v) from the Effective Date to the date of determination does not exceed 25% of the Consolidated Total Assets. 

(f) Change in Nature of Business. Make any material change in the nature of the business of the Borrower and its
Subsidiaries as conducted as of the date hereof. 
 SECTION 7.03 Financial Covenants. So long as any Advance or any other
Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding or any Lender Party shall have any Commitment hereunder, the Borrower will, unless it has the written consent of the Majority Lenders
to do otherwise: 
 (a) Leverage Ratio. Maintain a Leverage Ratio as of the last day of each Fiscal
Quarter, determined on the basis of the most recently completed four consecutive Fiscal Quarters ending on such day, of not greater than 2.25:1.00. 

(b) Fixed Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio as of the last day of each Fiscal Quarter,
determined on the basis of the most recently completed four consecutive Fiscal Quarters ending on such day, of not less than 2.00:1.00. 

SECTION 7.04 Reporting Requirements. The Borrower will furnish to the Agent: 

(a) As soon as available and in any event within 45 days after the end of each of the first three Fiscal Quarters,
Consolidated balance sheets of the Borrower and its Subsidiaries as of the end of such Fiscal Quarters and Consolidated statements of income and retained earnings of the Borrower and its Subsidiaries for the period commencing at the end of the
previous Fiscal Year and ending with the end of such Fiscal Quarter, certified by the chief financial officer or treasurer of the Borrower and accompanied by a certificate of said officer stating that such have been prepared in accordance with GAAP.

 (b) As soon as available and in any event within 90 days after the end of each Fiscal Year, a copy of the
annual report for such year for the Borrower and its Subsidiaries, containing Consolidated financial statements of the Borrower and its Subsidiaries for such Fiscal Year certified by Deloitte & Touche LLP or other independent public
accountants reasonably acceptable to the Majority Lenders. 
  

 58 

 (c) Together with the financial statements required by Sections 7.04(a) and
(b), a compliance certificate signed by the chief financial officer or treasurer of the Borrower stating (i) whether or not he or she has knowledge of the occurrence of any Event of Default or Default and, if so, stating in reasonable detail
the facts with respect thereto and (ii) whether or not the Borrower is in compliance with the requirements set forth in Section 7.03 and showing the computations used in determining such compliance or non-compliance. 

(d) As soon as possible and in any event within five days after a Responsible Officer becomes aware of each Event of
Default and Default, a statement of a Responsible Officer of the Borrower setting forth details of such Event of Default or Default and the action which the Borrower has taken and proposes to take with respect thereto. 

(e) Promptly after the sending or filing thereof, copies of all reports which the Borrower sends to any of its security
holders, and copies of all reports and registration statements which the Borrower or any Subsidiary files with the Securities and Exchange Commission (the “SEC”) or any national securities exchange. 

(f) Promptly after the filing or receiving thereof, copies of all reports and notices which the Borrower or any Subsidiary
files under ERISA with the Internal Revenue Service or the Pension Benefit Guaranty Corporation or the U.S. Department of Labor or which the Borrower or any Subsidiary receives from such entities other than immaterial regular periodic notices and
reports and notices and reports of general circulation. 
 (g) Within 120 days after the end of each Fiscal Year,
a summary, prepared by a Responsible Officer of the Borrower, of the Borrower’s (and its Subsidiaries’) major insurance coverages (and the amount of self-insurance) then in effect. 

(h) Such other information respecting the condition or operations, financial or otherwise, of the Borrower or any of its
Subsidiaries as any Lender Party, through the Agent, may from time to time reasonably request. 
 Notwithstanding the foregoing, the financial
statements required to be delivered by the Borrower pursuant to Sections 7.04(a) and (b) and the reports and statements required to be delivered by the Borrower pursuant to Section 7.04(e) shall be deemed to have been delivered (i) on
the date on which the Borrower posts reports containing such financial statements or other materials on the Borrower’s website on the internet at “www.gapinc.com” (or any successor page notified to the Lenders), (ii) when such
reports containing such financial statements or other materials are posted on the SEC’s website on the internet at “www.sec.gov” or (iii) with respect to financial statements required to be delivered under Sections 7.04(a) and
(b), when such reports are delivered in accordance with Section 10.02(b); provided, however, that the Borrower shall deliver paper copies of such financial statements or other materials to any Lender who so requests until the
Borrower receives written notice from such Lender to cease delivering paper copies. 
  

 59 

 ARTICLE VIII 

EVENTS OF DEFAULT 

SECTION 8.01 Events of Default. If any of the following events (“Events of Default”) shall occur and be continuing:

 (a) Non-Payment. Any Loan Party shall fail to pay any principal of any Advance or any
reimbursement obligation under any Letter of Credit when the same becomes due and payable; or shall fail to pay any interest on any Advance, fees or any other amounts hereunder within five days after the same become due and payable by it; or

 (b) Representations and Warranties. Any representation or warranty made by any Loan Party in any
Loan Document (whether made on behalf of itself or otherwise) or by any Loan Party (or any of its officers) in connection with any Loan Document shall prove to have been incorrect in any material respect when made; or 

(c) Specific Covenants and Other Defaults. (i) Any Loan Party shall fail to perform or observe any
covenant contained in Section 7.02 or 7.03, or any material provision of Section 4.05 shall for any reason cease to be valid or binding on or enforceable against the Borrower or the Borrower shall so state in writing; or (ii) any Loan
Party shall fail to perform or observe such other term, covenant or agreement contained in any Loan Document on its part to be performed or observed if the failure to perform or observe such other term, covenant or agreement shall remain unremedied
for 30 days after written notice thereof shall have been given to such Loan Party by any Lender Party; or 

(d) Cross-Default. Any Loan Party shall fail to pay any principal of or premium or interest on any Debt which
is outstanding in a principal amount of at least $50,000,000 in the aggregate (but excluding Debt hereunder) of such Loan Party when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or
otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or any such Debt shall be declared to be due and payable, or required to be prepaid (other than by
a regularly scheduled required prepayment), redeemed, purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case as a result of a default thereunder and prior to the stated maturity
thereof; or 
 (e) Insolvency Proceeding, Etc. Any Loan Party shall generally not pay its debts as
such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against any Loan Party seeking to adjudicate it a
bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or
seeking the entry of an 
  

 60 

 
order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding
instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief
against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or any Loan Party shall take any corporate action to authorize any of the actions set forth
above in this subsection (e); or 
 (f) Judgments. One or more judgments or orders for the payment of
money in excess of $50,000,000 in the aggregate shall be rendered against any Loan Party and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of
forty-five (45) consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not give rise to an
Event of Default under this Section 8.01(f) if and so long as (A) the amount of such judgment or order which remains unsatisfied is covered by a valid and binding policy of insurance between the respective Loan Party and the insurer
covering full payment of such unsatisfied amount and (B) such insurer has been notified, and has not disputed the claim made for payment, of the amount of such judgment or order; or 

(g) Change of Control. A Change of Control shall have occurred; or 

(h) ERISA. Any of the following events or conditions shall have occurred and such event or condition, when
aggregated with any and all other such events or conditions set forth in this subsection (h), has resulted or is reasonably expected to result in liabilities of the Loan Parties and/or the ERISA Affiliates in an aggregate amount that would have a
Material Adverse Effect: 
 (i) any ERISA Event shall have occurred with respect to a Plan; or 

(ii) any of the Loan Parties or any of the ERISA Affiliates shall have been notified by the sponsor of a
Multiemployer Plan that it has incurred Withdrawal Liability to such Multiemployer Plan; or 
 (iii) any of
the Loan Parties or any of the ERISA Affiliates shall have been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization, is insolvent or is being terminated, within the meaning of Title IV of ERISA, and, as
a result of such reorganization, insolvency or termination, the aggregate annual contributions of the Loan Parties and the ERISA Affiliates to all of the Multiemployer Plans that are in reorganization, are insolvent or being terminated at such time
have been or will be increased over the amounts contributed to such Multiemployer Plans for the plan years of such Multiemployer Plans immediately preceding the plan year in which such reorganization, insolvency or termination occurs; or 

 

 61 

 (iv) any “accumulated funding deficiency” (as defined in
Section 302 of ERISA and Section 412 of the Internal Revenue Code), whether or not waived, shall exist with respect to one or more of the Plans; or 

(v) or any Lien shall exist on the property and assets of any of the Loan Parties or any of the ERISA Affiliates in
favor of the PBGC; 
 then, and in any such event, the Agent shall at the request, or may with the consent, of the Majority Lenders, by notice
to the Borrower, (A) declare the obligation of each Lender to make Advances to be terminated, whereupon the same shall forthwith terminate, (B) declare the Advances, all interest thereon and all other amounts payable under this Agreement
to be forthwith due and payable, whereupon the Advances, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly
waived by the Borrower, (C) declare the obligation of the Issuing Banks to issue further Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and/or (D) demand from time to time that the Borrower, and if such
demand is made the Borrower shall, pay to the Agent for the benefit of the Issuing Banks, an amount in immediately available funds equal to the then outstanding Letter of Credit Liability (plus the additional amounts specified by
Section 3.12(c), if applicable) which shall be held by the Agent (or the applicable Issuing Bank) as cash collateral in a cash collateral account under the exclusive control and dominion of the Agent (or applicable Issuing Bank) (an
“L/C Collateral Account”) and applied to the reduction of such Letter of Credit Liability as drawings are made on outstanding Letters of Credit; provided, however, that in the event of an actual or deemed entry of an
order for relief with respect to any Loan Party under the Federal Bankruptcy Code, the obligation of each Lender to make Advances shall automatically be terminated, the then outstanding Advances, all such interest and all such amounts shall
automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Borrower and the obligation of the Issuing Bank to Issue Letters of Credit shall
automatically be terminated. 
 ARTICLE IX 

THE AGENT 

SECTION 9.01 Authorization and Action. Each Lender and each Issuing Bank hereby appoints and authorizes the Agent to take such
action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Agent by the terms hereof, together with such powers as are reasonably incidental thereto. As to any matters not expressly provided for by this
Agreement (including, without limitation, enforcement or collection of the Advances), the Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected
in so acting or refraining from acting) upon the instructions of the Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Agent shall not be required to take any action which exposes
the Agent to personal liability or which is contrary to this Agreement or applicable law. The Agent agrees to give to each Lender prompt notice of each notice given to it by the Borrower pursuant to the terms of this Agreement and any other Loan
Document unless the distribution of such notice is otherwise provided for herein or therein. 
  

 62 

 Each Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit
Issued by it and the documents associated therewith until such time and except for so long as the Agent may elect to act for each Issuing Bank with respect thereto; provided, however, that such Issuing Bank shall have all of the
benefits and immunities (i) provided to the Agent in this Article IX with respect to any acts taken or omissions suffered by such Issuing Bank in connection with Letters of Credit Issued by it or proposed to be Issued by it and the applications
and agreements for letters of credit pertaining to the Letters of Credit as fully as if the term “Agent,” as used in this Article IX, included such Issuing Bank with respect to such acts or omissions, and (ii) as additionally
provided in this Agreement with respect to such Issuing Bank. 
 SECTION 9.02 Agent’s Reliance, Etc. Neither the
Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or omitted to be taken by it or them under or in connection with this Agreement, except for its or their own gross negligence or willful misconduct.
Without limitation of the generality of the foregoing, the Agent: (i) may treat the Lender which made any Advance (or purchased or funded a participation with respect to a Letter of Credit) as the holder and owner of the Debt resulting
therefrom until the Agent receives and accepts an Assignment and Acceptance entered into by such Lender, as assignor, and an Eligible Assignee, as assignee, as provided in Section 10.07; (ii) may consult with legal counsel (including
counsel for the Borrower), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts;
(iii) makes no warranty or representation to any Lender and shall not be responsible to any Lender for any statements, warranties or representations (whether written or oral) made in or in connection with this Agreement; (iv) shall not
have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement on the part of the Borrower or to inspect the property (including the books and records) of the Borrower or
its Subsidiaries; (v) shall not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other instrument or document furnished pursuant hereto; and
(vi) shall incur no liability under or in respect of this Agreement by acting upon any notice, consent, certificate or other instrument or writing (which may be by telecopier) believed by it to be genuine and signed or sent by the proper party
or parties. 
 SECTION 9.03 CUSA, Citibank and Affiliates. With respect to CUSA’s Commitment and the Advances made
by it, and with respect to Citibank as an Issuing Bank, CUSA and Citibank shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Agent or an Issuing Bank, as the case may
be; and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include CUSA and Citibank in their individual capacities. CUSA, Citibank and each of their respective Affiliates (and, as
applicable, any of their respective officers and directors) may accept deposits from, lend money to, act as trustee under indentures of, and generally engage in any kind of business with, the Borrower, any of its Subsidiaries and any Person who may
do business with or own securities of the Borrower or any such Subsidiary, all as if CUSA were not the Agent or Citibank were not an Issuing Bank, as the case may be, and without any duty to account therefor to the Lenders. 

 

 63 

 SECTION 9.04 Lender Credit Decision. Each Lender acknowledges that it has,
independently and without reliance upon the Agent, any Issuing Bank or any other Lender and based on the financial statements referred to in Section 6.01(f) and such other documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agent, any Issuing Bank or any other Lender and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement. 

SECTION 9.05 Indemnification. 

(a) Agent. The Lenders agree to indemnify the Agent (to the extent not reimbursed by the Borrower), ratably,
according to their respective Commitment Percentages, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be
imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent under this Agreement, provided, that, no Lender shall be liable for any portion
of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees
to reimburse the Agent promptly upon demand for its ratable share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the Agent is not reimbursed for such expenses by the
Borrower. In the case of any investigation, litigation or proceeding giving rise to any such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs expenses or disbursements, this Section 9.05(a) applies whether
any such investigation, litigation or proceeding is brought by the Agent, an Issuing Bank, any Lender or a third party. 

(b) Issuing Bank. The Lenders agree to indemnify each Issuing Bank (to the extent not reimbursed by the Borrower),
ratably according to their respective Commitment Percentages, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may
be imposed on, incurred by, or asserted against such Issuing Bank in any way relating to or arising out of this Agreement and the Letters of Credit issued by it or any action taken or omitted by such Issuing Bank under this Agreement or the Letters
of Credit Issued by it, provided, that, no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from such Issuing
Bank’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to reimburse such Issuing Bank promptly upon demand for its ratable share of any out-of-pocket expenses (including reasonable counsel fees)
incurred by such Issuing Bank in connection with the preparation, execution, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or 

 

 64 

 
otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement or the Letters of Credit Issued by it, to the extent that the Issuing Bank is not reimbursed for such
expenses by the Borrower. In the case of any investigation, litigation or proceeding giving rise to any such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs expenses or disbursements, this Section 9.05(b)
applies whether any such investigation, litigation or proceeding is brought by the Issuing Bank, the Agent, any Lender or a third party. 

SECTION 9.06 Successor Agent. The Agent may resign at any time by giving 30 days’ prior written notice thereof to the Lenders
and the Borrower and may be removed at any time with or without cause by the Majority Lenders; provided, that, the Agent may resign without having given such notice if it is required to do so as a matter of law. Upon any such
resignation or removal, the Majority Lenders, after consulting with the Borrower and giving due consideration to any successor agent recommended by the Borrower, shall have the right to appoint a successor Agent with the consent of the Borrower
(which shall not be unreasonably withheld). If no successor Agent shall have been so appointed by the Majority Lenders and consented to by the Borrower, and shall have accepted such appointment, within 30 days after the retiring Agent’s giving
of notice of resignation or the Majority Lenders’ removal of the retiring Agent, then the retiring Agent may, after consulting with the Borrower and giving due consideration to any successor agent recommended by the Borrower, on behalf of the
Lenders, appoint a successor Agent, which shall be a commercial bank organized or licensed to do business under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $100,000,000. Upon
the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be
discharged from its duties and obligations under this Agreement. After any retiring Agent’s resignation or removal hereunder as Agent, the provisions of this Article IX shall inure to its benefit as to any actions taken or omitted to be taken
by it while it was Agent under this Agreement. 
 SECTION 9.07 Co-Syndication Agents and Joint Lead Arrangers. The
financial institutions identified as Co-Syndication Agents and Joint Lead Arrangers herein shall not have any rights, powers, obligations, responsibilities or duties under this Agreement. Without limiting the foregoing, any Lender so identified as
Co-Syndication Agent or Joint Lead Arranger shall not have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the financial institutions so identified as
Co-Syndication Agents or Joint Lead Arrangers in deciding to enter into this Agreement or in taking or not taking action hereunder. 

ARTICLE X 

MISCELLANEOUS 

SECTION 10.01 Amendments, Etc. 

(a) Majority Lenders. Except as is otherwise expressly provided in this Section 10.01, no amendment or waiver
of any provision of this Agreement, nor consent 
  

 65 

 
to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders, provided, however, that no
amendment, waiver or consent by the Majority Lenders shall, unless in writing and signed by all the Lenders, do any of the following: (i) waive any of the conditions specified in Section 5.01 or 5.02, (ii) increase the Commitments of
the Lenders (other than as provided for in Section 2.04(b) and 2.04(c)), (iii) reduce the principal of, or interest on, the Advances made pursuant to Section 2.01(a) or any reimbursement obligation in respect of any Letter of Credit
or any fees or other amounts payable hereunder to the Lenders, (iv) postpone any date fixed for any payment of principal of, or interest on, the Advances made pursuant to Section 2.01(a) or any reimbursement obligation in respect of any
Letter of Credit or any fees or other amounts payable hereunder to the Lenders, (v) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Advances made pursuant to Section 2.01(a) or Letter of Credit
Liability hereunder, or the number of Lenders, which shall be required for the Lenders or any of them to take any action hereunder, or the definition of “Majority Lenders” hereunder (vi) release the Borrower as a guarantor under
Section 4.05, or (vii) amend this Section 10.01(a). 
 (b) Agent and Issuing Banks. No
amendment, waiver or consent given or effected pursuant to this Section 10.01 shall, unless in writing and signed by the Agent or each Issuing Bank, as the case may be, in addition to the Lenders required above to take such action, affect the
rights, obligations or duties of the Agent or such Issuing Bank, as the case may be, under this Agreement. 
 (c)
Limitation of Scope. All waivers and consents granted under this Section 10.01 shall be effective only in the specific instance and for the specific purpose for which given. 

SECTION 10.02 Notices, Etc. (a) All notices and other communications provided for hereunder shall be in writing (including
telecopier or electronic mail) and mailed, sent by overnight courier, telecopied, emailed, or delivered, if to the Borrower or any other Loan Party, at its address at 2 Folsom Street, San Francisco, California, 94105, Attention: Treasurer,
Telecopier: 415-427-4015, email sabrina_simmons@gap.com with a copy to 2 Folsom Street, San Francisco, CA 94105, Attention: General Counsel, Telecopier: 415-427-6982, email lauri_shanahan@gap.com; and to 2 Folsom Street, San Francisco, CA 94105,
Attention: Associate General Counsel, Telecopier: 415-427-7475, email tom_lima@gap.com; if to any Lender, at its Domestic Lending Office specified opposite its name on Schedule I-B; if to any other Lender, at its Domestic Lending Office specified in
the Assignment and Acceptance pursuant to which it became Lender; if to the Agent, at its address at 399 Park Avenue, New York, New York 10043, Attention: Credit Administration, Telecopier: 302-894-6120; and if to an Issuing Bank, at its Domestic
Lending Office specified opposite its name in Schedule I-B; with a copy, in the case of notices to the Agent, to Citicorp North America, Inc., One Sansome Street, San Francisco, California, Attention: Carolyn Wendler, Telecopier: 415-433-0307, email
carolyn.wendler@citigroup.com, or, as to each party, at such other address or to such other person as shall be designated by such party in a written notice to the other parties. All such notices and communications shall, when mailed, be effective
three days after being deposited in the mails, when sent by overnight courier, be effective one day after being sent by overnight 

 

 66 

 
courier, and when telecopied or sent by electronic mail, be effective when received (and, with respect to notices and communications sent by electronic mail, upon confirmation by the recipient of
the receipt of such notice or communication), respectively; and when delivered by hand, be effective upon delivery except that notices and communications to the Agent pursuant to Article II or IX and to an Issuing Bank pursuant to Article III or IX
shall not be effective until received by the Agent or such Issuing Bank, as the case may be. 
 (b) So long as
Citibank or any of its Affiliates is the Agent, materials required to be delivered pursuant to Sections 7.04(a) and (b) shall be delivered to the Agent in an electronic medium in a format reasonably acceptable to the Agent and the Lenders by
email at oploanswebadmin@citigroup.com, provided, that any delay or failure to comply with the requirements of this Section 10.02(b) shall not constitute a Default or an Event of Default hereunder. The Borrower agrees that the Agent may
make such materials, as well as any other written information, documents, instruments and other material relating to the Borrower, any of its Subsidiaries or any other materials or matters relating to this Agreement, the Notes or any of the
transactions contemplated hereby (collectively, the “Communications”) available to the Lenders by posting such notices on Intralinks or a substantially similar electronic system (the “Platform”). The Borrower acknowledges that
(i) the distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution, (ii) the Platform is provided “as is” and “as
available” and (iii) neither the Agent nor any of its Affiliates warrants the accuracy, adequacy or completeness of the Communications or the Platform and each expressly disclaims liability for errors or omissions in the Communications or
the Platform. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code
defects, is made by the Agent or any of its Affiliates in connection with the Platform. 
 (c) Each Lender agrees
that notice to it (as provided in the next sentence) (a “Notice”) specifying that any Communications have been posted to the Platform shall constitute effective delivery of such information, documents or other materials to such Lender for
purposes of this Agreement; provided that if requested by any Lender the Agent shall deliver a copy of the Communications to such Lender by email or telecopier. Each Lender agrees (i) to notify the Agent in writing of such Lender’s email
address to which a Notice may be sent by electronic transmission (including by electronic communication) on or before the date such Lender becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent has on record an
effective email address for such Lender) and (ii) that any Notice may be sent to such email address, delivery of any Notice to such email address being effective upon receipt by the sender of an email receipt of delivery or other email
confirmation of delivery with respect thereto. 
 SECTION 10.03 No Waiver; Remedies. No failure on the part of any
Lender, the Issuing Bank or the Agent to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the
exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
  

 67 

 SECTION 10.04 Costs and Expenses. 

(a) The Borrower agrees to pay on demand all reasonable and documented costs and expenses of the Agent incurred in
connection with the preparation, execution, delivery, modification and amendment of this Agreement, and the other documents to be delivered hereunder, including, without limitation, the reasonable and documented fees and out-of-pocket expenses of
one counsel for the Agent (and appropriate local counsel) with respect thereto and with respect to advising the Agent as to its rights and responsibilities under this Agreement. The Borrower further agrees to pay on demand all costs and expenses of
the Agent, each Issuing Bank, each Swing Line Lender and each other Lender Party (including, without limitation, reasonable and documented fees and expenses of counsel), incurred in connection with the enforcement (whether through negotiations,
legal proceedings or otherwise) of the Loan Documents, the Letters of Credit, the documents delivered in connection with the Swing Line Advances and the other documents to be delivered hereunder and thereunder. 

(b) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made other than on the last day of
the Interest Period for such Advance, as a result of a payment or Conversion pursuant to Sections 2.08(d), 2.10, 2.12, acceleration of the maturity of the Advances pursuant to Section 8.01 or for any other reason, or by an Eligible Assignee to
a Lender other than on the last day of an Interest Period for such Advance upon an assignment of rights and obligations under this Agreement pursuant to Section 10.07 as a result of a demand by the Borrower pursuant to Section 10.07(a), or
if the Borrower fails for any reason to make any payment or prepayment of an Advance for which a notice of prepayment was given or that is otherwise required to be made, whether pursuant to Sections 2.05, 2.10, 8.01 or otherwise, the Borrower shall,
upon demand by any Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses which it may reasonably incur as a
result of such payment or Conversion or such failure to pay or prepay, as the case may be, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of
deposits or other funds acquired by any Lender to fund or maintain such Advance. 
 (c) The Borrower agrees to
indemnify and hold harmless each of the Agent, each Lender, each Issuing Bank, the Joint Lead Arrangers, the Co-Syndication Agents and each of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an
“Indemnified Party”) from and against any and all claims (other than lost profits), damages, liabilities and expenses (including, without limitation, reasonable and documented fees and disbursements of one counsel, absent a conflict
of interest), which may be incurred by or asserted against any Indemnified Party in connection with or arising out of any investigation, litigation, or proceeding (whether or not such Indemnified Party is party thereto) related to any acquisition or
proposed acquisition by the Borrower, or by any Subsidiary of the Borrower, of all or any portion of the stock or substantially all the assets of any Person or any use or proposed use of the Advances or Letters of Credit by any Loan Party, except to
the extent such claim, damage, liability or expense shall have resulted from such Indemnified Party’s gross negligence or willful 

 

 68 

 
misconduct. In the event this indemnity is unenforceable as a matter of law as to a particular matter or consequence referred to herein, it shall be enforceable to the full extent permitted by
law. The indemnification provisions set forth above shall be in addition to any liability the Borrower may otherwise have. Without prejudice to the survival of any other obligation of the Borrower hereunder, the indemnities and obligations of the
Borrower contained in this Section 10.04 shall survive the payment in full of all the Obligations. 
 (d)
The Borrower hereby acknowledges that the funding method by each Lender of its Advances hereunder shall be in the sole discretion of such Lender. The Borrower agrees that for purposes of any determination to be made under Sections 2.07, 2.11 (a),
2.12 or 10.04(b) each Lender shall be deemed to have funded its Eurodollar Rate Advances with proceeds of Dollar deposits in the London interbank market. 

SECTION 10.05 Right of Set-off. Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the
making of the request or the granting of the consent specified by Section 8.01 to authorize the Agent to declare the Advances due and payable pursuant to the provisions of Section 8.01 or to demand payment of (or cash collateralization of)
all then outstanding Letter of Credit Liability, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special,
time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of any Loan Party against any and all of the obligations of such Loan Party now or
hereafter existing under this Agreement to such Lender (including, to the fullest extent permitted by law, obligations indirectly owed to such Lender by virtue of its purchase of a participation or sub-participation of the Letter of Credit Liability
pursuant to Section 3.05), whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured (it being understood and agreed that, notwithstanding anything in this Agreement or any of the
other Loan Documents to the contrary, accounts, deposits, sums, securities or other property of any Foreign Subsidiary or of any Subsidiary of a Foreign Subsidiary (including any Foreign Subsidiary or any Subsidiary of a Foreign Subsidiary that is a
Subsidiary Borrower or LC Subsidiary) will not serve at any time, directly or indirectly, to collateralize or otherwise offset the Obligations of the Borrower or any Domestic Subsidiary, and, in addition, unless otherwise agreed to by the Borrower,
the accounts, deposits, sums, securities or other property of a Foreign Subsidiary or Subsidiary of a Foreign Subsidiary will only serve to collateralize or offset the Obligations of another Foreign Subsidiary or Subsidiary of a Foreign Subsidiary
that is a Subsidiary Borrower or LC Subsidiary if such former Foreign Subsidiary or Subsidiary of a Foreign Subsidiary is owned by such latter Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is a Subsidiary Borrower or LC Subsidiary).
Each Lender agrees promptly to notify the Borrower and the Agent after any such set-off and application made by such Lender or any of its Affiliates, provided, that, the failure to give such notice shall not affect the validity of such
set-off and application. The rights of each Lender and its Affiliates under this Section 10.05 are in addition to other rights and remedies (including, without limitation, other rights of set-off) which such Lender and its Affiliates may have.

  

 69 

 SECTION 10.06 Binding Effect. This Agreement shall become effective when it shall
have been executed by the Borrower, each LC Subsidiary and each Subsidiary Borrower to be a party hereto on the date hereof, each Issuing Bank to be a party hereto on the date hereof, and the Agent and when the Agent shall have been notified by each
Lender that such Lender has executed it and thereafter shall be binding upon and inure to the benefit of the Borrower, each LC Subsidiary, each Subsidiary Borrower, each Issuing Bank, the Agent and each Lender and their respective successors and
assigns, except that the Borrower, each LC Subsidiary and each Subsidiary Borrower shall not have the right to assign its respective rights hereunder or any interest herein without the prior written consent of the Lenders. 

SECTION 10.07 Assignments and Participations. (a) Each Lender may, and if demanded by the Borrower (following a demand by
such Lender pursuant to Section 2.07, 2.11, 3.08 or 4.02, upon at least 10 days’ notice to such Lender and the Agent) will, assign to one or more banks or other entities all or a portion of its rights and obligations under this Agreement
(including, without limitation, all or a portion, respectively, of its Commitment, the Advances owing to it, its Issuing Commitment and participations in Letter of Credit Liability and Swing Line Advances); provided, however, that
(i) each such respective assignment shall be of a percentage of all rights and obligations under this Agreement in respect of the assigning Lender’s Commitment, Advances, its Issuing Commitment and participations in Letter of Credit
Liability and Swing Line Advances, that is constant and not varying over time, (ii) the respective amounts of the rights and obligations under the Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as
of the date of the Assignment and Acceptance with respect to such partial assignment) shall in no event be less than $5,000,000 (or an integral multiple of $500,000 in excess thereof), (iii) except during the continuance of a Default, each such
assignment shall be to an Eligible Assignee consented to by the Borrower (following reasonable advance written notice to the Borrower, which consent shall not be unreasonably withheld); provided, that, the Borrower’s consent need
not be obtained if such assignment is made to another Lender or to an Affiliate of the assigning Lender, provided that any Lender so assigning to any of its Affiliates shall give prompt notice thereof to the Borrower and the Agent, (iv) each
such assignment made as a result of a demand by the Borrower pursuant to this Section 10.07(a) shall be arranged by the Borrower (at its expense, including, without limitation, payment of the processing and recordation fee referred to in
subclause (vii) hereof) after consultation with the Agent and shall be either an assignment of all of the rights and obligations of the assigning Lender under this Agreement or an assignment of a portion of such rights and obligations made
concurrently with another such assignment or other such assignments which together cover all of the rights and obligations of the assigning Lender under this Agreement, (v) no Lender shall be obligated to make any such assignment as a result of
a demand by the Borrower pursuant to this Section 10.07(a) unless and until such Lender shall have received one or more payments from either the Borrower or one or more Eligible Assignees in an aggregate amount at least equal to the aggregate
outstanding principal amount of the Advances owing to such Lender, together with accrued interest thereon to the date of payment of such principal amount and all other amounts payable to such Lender under this Agreement, (vi) each such
assignment shall be consented to by each Issuing Bank and the Agent (which consent of the Agent shall not be unreasonably withheld) and (vii) the parties to each such assignment shall execute and deliver to the Agent, for its acceptance and
recording in the Register, an Assignment and Acceptance, together with a processing and recordation fee of $3,500; provided, that, no such fee shall be payable in connection with an assignment by an assigning Lender to an

  

 70 

 
Affiliate of such assigning Lender. Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Assignment and Acceptance, (x) the assignee
thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and obligations of Lender hereunder and (y) the Lender assignor
thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and, in the case of an
Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). 

(b) By executing and delivering an Assignment and Acceptance, the Lender assignor thereunder and the assignee thereunder
confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to
any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other instrument or document furnished
pursuant hereto; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower, any LC Subsidiary, any Subsidiary Borrower or any other Loan Party or the
performance or observance by the Borrower, any LC Subsidiary, any Subsidiary Borrower or any other Loan Party of any of its obligations under this Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee
confirms that it has received a copy of this Agreement, together with copies of the financial statements referred to in Section 6.01 and such other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently and without reliance upon the Agent, any Issuing Bank, such assigning Lender or any other Lender and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes the
Agent or the respective Issuing Bank to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Agent or such Issuing Bank by the terms hereof, together with such powers as are reasonably
incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it as Lender. 

(c) The Agent shall maintain at its address referred to in Section 10.02 a copy of each Assignment and Acceptance
delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment of, and principal amount of the Advances owing to, each Lender from time to time and the names and addresses and the
Issuing Commitments of each Issuing Bank from time to time (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrower, the Agent and the Lenders may treat
each Person whose name is recorded in the Register as Lender hereunder for all purposes of 
  

 71 

 
this Agreement. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. 

(d) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an assignee representing that it
is an Eligible Assignee, the Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit C, (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the
Register and (iii) give prompt notice thereof to the Borrower and the Issuing Banks. 
 (e) Each Lender may
sell participations to one or more banks or other entities in or to all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its Commitment and the Advances owing to it; provided,
however, that (i) such Lender’s obligations under this Agreement (including, without limitation, its Commitment) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, (iii) such Lender shall remain the owner of any Advance for all purposes of this Agreement, and (iv) the Borrower, the Issuing Banks, the Agent and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Agreement, provided, further, that, to the extent of any such participation (unless otherwise stated therein and subject to the preceding
proviso), the purchaser of such participation shall, to the fullest extent permitted by law, have the same rights and benefits hereunder as it would have if it were Lender hereunder; and provided, further, that each such
participation shall be granted pursuant to an agreement providing that the purchaser thereof shall not have the right to consent or object to any action by the selling Lender (who shall retain such right) other than an action which would
(i) reduce principal of or interest on any Advance, any amount due hereunder with respect to the Letters of Credit or other amounts or fees in which such purchaser has an interest, (ii) postpone any date fixed for payment of principal of
or interest on any such Advance, such amounts due with respect to Letters of Credit or other amounts or such fees, (iii) extend the Termination Date or (iv) release the Borrower as a guarantor under Section 4.05. 

(f) Upon written request of the Borrower to a Lender, such Lender shall, to the extent consistent with the policies of
such Lender, inform the Borrower of the Dollar amount of any Full Term Participation (as hereinafter defined) that such Lender has entered into; provided, however, that no Lender shall be obligated to disclose such information if the
disclosure thereof would constitute a violation of law or regulation or violate any confidentiality agreement to which such Lender is subject. For the purposes of this subsection (f), “Full Term Participation” means a participation
by a Lender to another Person whereby such other Person has purchased (pursuant to a participation agreement) all or a portion of such Lender’s Commitment from the effective date of such participation agreement to the Termination Date.

 (g) Notwithstanding anything herein contained to the contrary, each Lender may assign any of its rights and
obligations under this Agreement to any of its Affiliates without the consent of the Borrower or the Agent, provided that any Lender so assigning 

 

 72 

 
to any of its Affiliates shall give prior notice thereof to the Borrower and the Agent; and each Lender or any of its Affiliates may assign any of its rights (including, without limitation,
rights to payment of principal and/or interest hereunder) under this Agreement to any Federal Reserve Bank without notice to or consent of the Borrower or the Agent. 

(h) If any Lender requests any payment from the Borrower under Section 2.07, 2.11, 3.08 or 4.02, then, subject to
Section 10.07(a) and provided no Default or Event of Default shall have occurred and be continuing, the Borrower may request such Lender to (and, upon such request, such Lender, without any obligation to pay any fees in respect thereof, shall)
assign all of its rights and obligations under this Agreement to one or more Eligible Assignees acceptable to the Agent in accordance with Section 10.07(a) provided that at the time of any such assignment the Borrower has paid to the Lender all
amounts due it hereunder. 
 SECTION 10.08 Severability of Provisions. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of
such provision in any other jurisdiction. 
 SECTION 10.09 Independence of Provisions. All agreements and covenants
hereunder shall be given independent effect such that if a particular action or condition is prohibited by the terms of any such agreement or covenant, the fact that such action or condition would be permitted within the limitations of another
agreement or covenant shall not be construed as allowing such action to be taken or condition to exist. 
 SECTION 10.10
Confidentiality. Each Lender, each Issuing Bank and the Agent (for purposes of this Section 10.10, each a “Recipient”) agrees that it will not disclose to any third party any Confidential Information provided to it by
the Borrower; provided, that, the foregoing will not (i) restrict the ability of the Agent, the Issuing Banks, the Lenders and any loan participants from freely exchanging Confidential Information among themselves (and their
respective Affiliates, employees, attorneys, agents and advisors), (ii) restrict the ability to disclose Confidential Information to a prospective Eligible Assignee or participant, provided, that, such Eligible Assignee or
participant executes a confidentiality agreement with the selling Lender agreeing to be bound by the terms hereof prior to disclosure of Confidential Information to such Eligible Assignee or participant or (iii) prohibit the disclosure of
Confidential Information to the extent: (a) the Confidential Information is or has already become part of the public domain at the time of disclosure, by publication or otherwise, except by breach of this Section 10.10, (b) the
Confidential Information can be established by written evidence to have already been in the lawful possession of the Recipient prior to the time of disclosure; or (c) the Confidential Information is received by the Recipient from a third party
not known to have a similar restriction and without breach of this Section 10.10, or (d) the Confidential Information is required to be disclosed by order of a court of competent jurisdiction, administrative agency or governmental body, or
by subpoena, summons or other legal process, or by law, rule or regulation, or by applicable regulatory or professional standards provided that prior to such disclosure the Borrower and the non-disclosing party are each given reasonable advance
notice of such order and an opportunity to object to such disclosure; provided, that, no such notice or 

 

 73 

 
opportunity shall be required if disclosure is required in connection with an examination by a regulatory authority or is required in such circumstances where the applicable Governmental
Authority does not permit such notice or opportunity (it being understood the Recipient will inform such authority of the confidential nature of the Confidential Information being disclosed). 

SECTION 10.11 Headings. Article and Section headings in this Agreement are included for convenience of reference only and shall
not constitute a part of this Agreement for any other purpose. 
 SECTION 10.12 Entire Agreement. This Agreement sets
forth the entire agreement of the parties with respect to its subject matter and, except for the letter agreements referred to in Sections 2.03(c) and 3.06(b), supersedes all previous understandings, written or oral, in respect thereof. 

SECTION 10.13 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

SECTION 10.14 Consent to Jurisdiction. (a) Each of the parties hereto hereby irrevocably submits to the non-exclusive
jurisdiction of any New York State or Federal court sitting in the County of New York, The City of New York, in any action or proceeding arising out of or relating to the Loan Documents, and each of the parties hereby irrevocably agrees that all
claims in respect of such action or proceeding may be heard and determined in such New York State court or such Federal court. Each of the parties hereby irrevocably agrees, to the fullest extent each may effectively do so, that each will not assert
any defense that such courts do not have subject matter or personal jurisdiction of such action or proceeding or over any party hereto. Each of the parties hereby irrevocably consents to the service of copies of the summons and complaint and any
other process which may be served in any such action or proceeding by certified mail, return receipt requested, or by delivering of a copy of such process to such party at its address specified in Section 10.02 or by any other method permitted
by law. Each of the parties hereby agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or by any other manner provided by law. 

(b) Nothing in this Section 10.14 shall affect the right of any of the parties hereto to serve legal process in any
other manner permitted by law or affect the right of any of the parties to bring any action or proceeding against any of the parties or their property in the courts of other jurisdictions. 

SECTION 10.15 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK, EXCEPT, IN THE CASE OF ARTICLE III, TO THE EXTENT SUCH LAWS ARE INCONSISTENT WITH THE UCP. 
 SECTION 10.16 WAIVER OF
JURY TRIAL. EACH OF THE BORROWER, THE LC SUBSIDIARIES, THE SUBSIDIARY BORROWERS, THE AGENT, THE LENDERS 
  

 74 

 
AND EACH ISSUING BANK HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE ADVANCES OR THE LETTERS OF CREDIT, OR THE ACTIONS OF THE AGENT, ANY LENDER OR THE ISSUING BANK IN CONNECTION WITH THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

 [The remainder of this page intentionally left blank.] 

 

 75 

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

			
	THE BORROWER:
	
	THE GAP, INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	THE LC SUBSIDIARIES:
	
	BANANA REPUBLIC, LLC
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	GPS CONSUMER DIRECT, INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	GAP (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	GAP (FRANCE) S.A.S.
		
	By:	 	  

	Name:	 	Lisa Mertens
	Title:	 	President

			
	GAP (JAPAN) K.K.
		
	By:	 	  

	Name:	 	Thomas J. Lima
	Title:	 	Director 
	
	GAP (NETHERLANDS) B.V.
		
	By:	 	  

	Name:	 	Julie Kanberg
	Title:	 	Director
	
	GPS (GREAT BRITAIN) LIMITED
		
	By:	 	  

	Name:	 	Byron Pollitt
	Title:	 	Director
	
	OLD NAVY (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	SUBSIDIARY BORROWERS:
	
	GAP (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer
	
	GAP (FRANCE) S.A.S.
		
	By:	 	  

	Name:	 	Lisa Mertens
	Title:	 	President

			
	GAP (JAPAN) K.K.
		
	By:	 	  

	Name:	 	Thomas J. Lima
	Title:	 	Director
	
	GAP (NETHERLANDS) B.V.
		
	By:	 	  

	Name:	 	Julie Kanberg
	Title:	 	Director
	
	GPS (GREAT BRITAIN) LIMITED
		
	By:	 	  

	Name:	 	Byron Pollitt
	Title:	 	Director
	
	OLD NAVY (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

			
	 THE AGENT:
  

CITICORP USA, INC.

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 THE CO-SYNDICATION AGENTS:
  

BANK OF AMERICA, N.A.

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	THE SENIOR MANAGING AGENTS:
	
	BANK OF NOVA SCOTIA
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 WILLIAM STREET COMMITMENT

CORPORATION

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	U. S. BANK NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	WELLS FARGO BANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	 THE LENDERS:
  

KEYBANK NATIONAL ASSOCIATION

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 WACHOVIA BANK, NATIONAL

ASSOCIATION

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	THE FIFTH THIRD BANK
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	FIRST NATIONAL BANK OF OMAHA
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	THE ISSUING BANKS:
	
	CITIBANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BANK OF AMERICA, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	THE SWING LINE LENDERS:
	
	CITIBANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BANK OF AMERICA, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BANK OF NOVA SCOTIA
		
	By:	 	  

	Name:	 	
	Title:	 	

					
	SCHEDULES - REVOLVER CREDIT AGREEMENT
			
	Schedule I-A	  	-	  	Commitment Amounts
	Schedule I-B	  	-	  	List of Applicable Lending Offices
	Schedule II	  	-	  	Existing Liens
	Schedule III	  	-	  	Change of Control
	Schedule IV	  	-	  	Outstanding Balance of Existing Letters of Credit
	Schedule V	  	-	  	LC Subsidiaries
	Schedule VI	  		  	Subsidiary Borrowers
	Schedule VII	  	-	  	ERISA Matters
	Schedule VIII	  	-	  	Environmental Matters
	Schedule IX	  	-	  	Existing Debt

 Schedule I-A 

COMMITMENT AMOUNTS 
  

							
	 Entity
	  	Commitment	  	Issuing Commitment
			
	 Citicorp USA, Inc.
	  	$	105,000,000	  	 	N/A
	 Bank of America, N.A.
	  	$	105,000,000	  	$	187,500,000
	 HSBC Bank USA, National Association
	  	$	90,000,000	  	$	187,500,000
	 JPMorgan Chase Bank
	  	$	90,000,000	  	$	187,500,000
	 The Bank of Nova Scotia
	  	$	55,000,000	  	 	N/A
	 William Street Commitment Corporation
	  	$	55,000,000	  	 	N/A
	 U. S. Bank National Association
	  	$	55,000,000	  	 	N/A
	 Wells Fargo Bank, N.A.
	  	$	55,000,000	  	 	N/A
	 KeyBank National Association
	  	$	45,000,000	  	 	N/A
	 Wachovia Bank, National Association
	  	$	35,000,000	  	 	N/A
	 Fifth Third Bank
	  	$	35,000,000	  	 	N/A
	 First National Bank of Omaha
	  	$	25,000,000	  	 	N/A
	 Citibank, N.A.
	  	 	N/A	  	$	187,500,000
		  	 	 	  	 	 
	 TOTAL
	  	$	750,000,000	  	$	750,000,000
		  	 	 	  	 	 

 Schedule I-B 

LIST OF APPLICABLE LENDING OFFICES 
  

					
	 Lender  
	  	 Domestic Lending Office        
	  	 Eurodollar Lending Office        

			
	Citicorp USA Inc./	  	2 Penns Way, Suite 110	  	2 Penns Way, Suite 110
	Citibank, N.A.	  	New Castle, DE 19720	  	New Castle, DE 19720
		  	Attn: Carolyn Figueroa	  	Attn: Carolyn Figueroa
		  	Tel: 302-894-6089	  	Tel: 302-894-6089
		  	Fax: 212-994-0847	  	Fax: 212-994-0847
			
	Bank of America, N.A.	  	1850 Gateway Blvd	  	1850 Gateway Blvd
		  	Concord, CA 94520	  	Concord, CA 94520
		  	Attn: Nina Lemmer	  	Attn: Nina Lemmer
		  	Tel: 925-675-7478	  	Tel: 925-675-7478
		  	Fax: 888-969-9281	  	Fax: 888-969-9281
			
	HSBC Bank USA, National Association	  	452 Fifth Avenue, 5th
Floor	  	452 Fifth Avenue, 5th
Floor
		  	New York, NY 10018	  	New York, NY 10018
		  	Attn: Anne Serewicz	  	Attn: Anne Serewicz
		  	Tel: 212-575-2474	  	Tel: 212-575-2474
		  	Fax: 212-575-2479	  	Fax: 212-575-2479
			
	JPMorgan Chase Bank	  	270 Park Avenue, 4th
Floor	  	270 Park Avenue, 4th
Floor
		  	New York, NY 10017	  	New York, NY 10017
		  	Attn: Barry Bergman	  	Attn: Barry Bergman
		  	Tel: 212-270-0203	  	Tel: 212-270-0203
		  	Fax: 212-270-3279	  	Fax: 212-270-3279
			
	The Bank of Nova Scotia	  	580 California Street, Suite 2100	  	580 California Street, Suite 2100
		  	San Francisco, CA 94104	  	San Francisco, CA 94104
		  	Attn: Mark Sparrow	  	Attn: Mark Sparrow
		  	Tel: 415-616-4108	  	Tel: 415-616-4108
		  	Fax: 415-397-0791	  	Fax: 415-397-0791
			
	William Street Commitment	  	85 Broad Street, 6th
Floor	  	85 Broad Street, 6th
Floor
	Corporation	  	New York, NY 10004	  	New York, NY 10004
		  	Attn: Philip F. Green	  	Attn: Philip F. Green
		  	Tel: 212-357-7570	  	Tel: 212-357-7570
		  	Fax: 212-357-4597	  	Fax: 212-357-4597
			
	U.S. Bank National Association	  	555 S.W. Oak Street, Suite 400	  	555 S.W. Oak Street, Suite 400
		  	Mail Code PD-OR-P4CB	  	Mail Code PD-OR-P4CB
		  	Portland, Oregon 97204	  	Portland, Oregon 97204
		  	Attn: Janet Jordan	  	Attn: Janet Jordan
		  	Tel: 503-275-5871	  	Tel: 503-275-5871
		  	Fax: 503-275-5428	  	Fax: 503-275-5428
			
	Wells Fargo Bank, N.A.	  	201 Third Street	  	201 Third Street
		  	San Francisco, CA 94103	  	San Francisco, CA 94103
		  	Attn: Judy Chan	  	Attn: Judy Chan
		  	Tel: 415-477-5433	  	Tel: 415-477-5433
		  	Fax: 415-979-0675	  	Fax: 415-979-0675
			
	KeyBank National Association	  	127 Public Square	  	127 Public Square
		  	Cleveland, OH 44114	  	Cleveland, OH 44114
		  	Attn: Michael Vegh	  	Attn: Michael Vegh
		  	Tel: 216-689-7759	  	Tel: 216-689-7759
		  	Fax: 216-689-4981	  	Fax: 216-689-4981

					
	 Lender  
	  	 Domestic Lending Office        
	  	 Eurodollar Lending Office        

			
	Wachovia Bank, National Association	  	1339 Chestnut Street, PA 4830	  	1339 Chestnut Street, PA 4830
		  	Philadelphia, PA 14107	  	Philadelphia, PA 14107
		  	Attn: Susan Vitale	  	Attn: Susan Vitale
		  	Tel: 267-321-6712	  	Tel: 267-321-6712
		  	Fax: 267-321-6700	  	Fax: 267-321-6700
			
	Fifth Third Bank	  	38 Fountain Square Plaza	  	38 Fountain Square Plaza
		  	Cincinnati, OH 45202	  	Cincinnati, OH 45202
		  	Attn: Gary Losey	  	Attn: Gary Losey
		  	Tel: 513-534-7757	  	Tel: 513-534-7757
		  	Fax: 513-534-5947	  	Fax: 513-534-5947
			
	First National Bank of Omaha	  	1620 Dodge Street	  	1620 Dodge Street
		  	Omaha, NE 68197	  	Omaha, NE 68197
		  	Attn: Mark Baratta	  	Attn: Mark Baratta
		  	Tel: 402-633-3512	  	Tel: 402-633-3512
		  	Fax: 402-633-3519	  	Fax: 402-633-3519

  

 Schedule II 

EXISTING LIENS 
 Landlord
Liens: 
 Lease Agreement, between Metropolitan Life Insurance Company, on behalf of the Tower Fund, a commingled separate account, as
Landlord and The Gap, Inc., as Tenant for Gateway Business Center, Building #1, City of Grove City, Ohio, dated January 29, 1998 (the Ohio Catalog Center) 

Amended and Restated Industrial Lease Agreement, between Industrial Developments International, Inc., as Landlord and The Gap, Inc., as Tenant for 1200
Worldwide Blvd., Hebron, Kentucky, dated March 10, 1998 (the Gap Outlet Distribution Center) 
 Industrial Lease Agreement, between
Industrial Developments International, Inc., as Landlord, and The Gap, Inc., as Tenant for 1405 Worldwide Blvd., Hebron, Kentucky, dated June 15, 2000 (the Old Navy Outlet Distribution Center) 

 Schedule III 

CHANGE OF CONTROL 
  

	1.	Donald G. Fisher 

  

	2.	Doris F. Fisher 

  

	3.	Any person related by blood or marriage to any of the foregoing persons and any Person (as defined in this Agreement) as to which any of such persons has beneficial
ownership of the assets of such Person. 

  

	4.	The executive officers of The Gap, Inc. as of August 30, 2004. 

 Schedule IV 

OUTSTANDING BALANCE OF EXISTING LETTERS OF CREDIT 
  

												
	 Bank  
	  	LC Ref. No.    	  	 Beneficiary    
	  	 Issued Date  
	  	 Maturity  
	  	Amount (USD)
						
	B of A	  	3046514	  	Washington Intl. Insurance	  	3/4/2002	  	Evergreen	  	$	30,000,000
	B of A	  	3049636	  	Metropolitan Life Insurance Co.	  	7/1/2002	  	Evergreen	  	$	484,200
		  		  		  		  		  	 	 
		  		  		  		  		  	$	30,484,200

 Schedule V 

LC SUBSIDIARIES 
  

	1.	Banana Republic, LLC 

  

	2.	GPS Consumer Direct, Inc. 

  

	3.	Gap (Canada) Inc. 

  

	4.	Gap (France) S.A.S. 

  

	5.	Gap (Japan) K.K. 

  

	6.	Gap (Netherlands) B.V. 

  

	7.	GPS (Great Britain) Limited 

  

	8.	Old Navy (Canada) Inc. 

 Schedule VI 

SUBSIDIARY BORROWERS 
  

	1.	Gap (Canada) Inc. 

  

	2.	Gap (France) S.A.S. 

  

	3.	Gap (Japan) K.K. 

  

	4.	Gap (Netherlands) B.V. 

  

	5.	GPS (Great Britain) Limited 

  

	6.	Old Navy (Canada) Inc. 

 Schedule VII 

ERISA MATTERS 
 None.

 Schedule VIII 

ENVIRONMENTAL MATTERS 
 None.

 Schedule IX 

EXISTING DEBT 
  

							
	 Borrower
	  	 Amount
	  	 Type of Debt
	  	 Date Expires

				
	Gap International BV	  	Euro	  		  	
		  	226,593,000	  	5% 5-Year Notes	  	September 30, 2004
				
	Gap (Japan) K.K.	  	USD	  		  	
		  	50,000,000	  	6.25% 10-Year Notes	  	March 1, 2009
				
	Gap (France) SAS	  	Euro	  	Bank Guarantee for lease payments in	  	Evergreen
		  	2,145,619	  	France Societe Generale	  	
				
	GIS Singapore	  	SGD	  	Bank Guarantee for lease payments in	  	Evergreen
		  	171,749	  	Citibank	  	
				
	GIS Holdings Ltd.	  	HKD	  	Bank Guarantee for lease payments in	  	Evergreen
		  	5,749,506	  	Citibank	  	
				
	GIS Dubai	  	USD	  	Continuing Guarantee for operating	  	Evergreen
		  	164,000	  	expenses in HSBC	  	

 EXHIBIT A 

NOTICE OF BORROWING 
 Citicorp
USA, Inc., as Agent 
   for the Lenders Parties 

  to the Credit Agreement referred to below 

Attention: 
 [Date] 

Ladies and Gentlemen: 
 The
undersigned, The Gap, Inc., refers to the Credit Agreement, dated as of August 30, 2004 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”, the terms defined therein being used
herein as therein defined), among the undersigned, certain of the undersigned’s Subsidiaries, certain Lenders parties thereto, certain Issuing Banks parties thereto, certain Co-Syndication Agents parties thereto, Citigroup Global Markets Inc.
and Banc of America Securities LLC as Joint Lead Arrangers, and Citicorp USA, Inc., as Agent for said Lenders and the Issuing Banks, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned
hereby requests a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Borrowing (the “Proposed Borrowing”) as required by Section 2.02(a) of the Credit Agreement:

 (i) The Business Day of the Proposed Borrowing is
            , 200  . 
 (ii) The Type of
Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurodollar Rate Advances]. 
 (iii) The aggregate amount of
the Proposed Borrowing is $            . 
 (iv) [The Interest
Period for each Eurodollar Rate Advance made as part of the Proposed Borrowing is [    month[s]].] 

The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed
Borrowing: 
 (A) the representations and warranties contained in Section 6.01 of the Credit Agreement (other than, in
the case of any Advance that does not increase the outstanding principal amount of the Advances, the representations and warranties contained in Sections 6.01(e) and 6.01(g) of the Credit Agreement), before and after giving effect to the Proposed
Borrowing and to the application of the proceeds therefrom, as though made on and as of such date; 

 (B) no event has occurred and is continuing, or would result from such Proposed Borrowing or
from the application of the proceeds therefrom, which constitutes an Event of Default or Default; and 
 (C) the making of
the Proposed Borrowing is in compliance with the respective criteria set forth in Section 2.01(a) of the Credit Agreement. 
  

			
	 Very truly yours,
  

THE GAP, INC.

		
	By	 	  

	Name:	 	
	Title:	 	

  

 Exh. A Page 2 

 EXHIBIT B 

FORM OF PROMISSORY NOTE 
  

			
	$                	 	Dated:                        ,
200  

 FOR VALUE RECEIVED, the undersigned, The Gap, Inc., a Delaware corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of [                            ]
(the “Lender”) for the account of its Applicable Lending Office on the Termination Date (as those terms are defined in the Credit Agreement referred to below) or prior thereto as provided in such Credit Agreement the aggregate
principal amount of the Advances (as defined below) owing to the Lender by the Borrower pursuant to the Credit Agreement dated as of August 30, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement,” terms defined therein, unless otherwise defined herein, being used herein as therein defined), among the Borrower, certain subsidiaries of the Borrower, the Lender and certain other banks and financial
institutions party thereto as Lenders, certain Issuing Banks, certain Co-Syndication Agents parties thereto, Citigroup Global Markets Inc. and Banc of America Securities LLC as Joint Lead Arrangers, and Citicorp USA, Inc. (“CUSA”),
as Agent. 
 The Borrower also promises to pay interest on the unpaid principal amount of each Advance from the date of such
Advance until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement. Both principal and interest are payable in lawful money of the United States of America to CUSA, as
Agent, at 399 Park Avenue, New York, New York 10043 (or at such other address as the Agent may specify to the Borrower in writing) in same day funds, free and clear of and without any deduction, with respect to the payee named above, subject to
Section 4.02 of the Credit Agreement, for any and all present and future taxes, deductions, charges or withholdings, and all liabilities with respect thereto. 

The Lender is authorized to record the date of each Advance or Conversion or continuation thereof, each payment or prepayment of
principal with respect thereto and, in the case of Eurodollar Rate Advances, each Interest Period and the interest rate applicable thereto, in the Lender’s internal records and, prior to any transfer hereof, on a schedule annexed hereto and
made a part hereof, and any such notation shall constitute prima facie evidence of the accuracy of the information so recorded. 

This Promissory Note is issued pursuant to Section 2.02(g) of, and is entitled to the benefits of, the Credit Agreement. The Credit
Agreement, among other things, (i) provides for the making of advances (the “Advances”) by the Lender to the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first
above mentioned, the indebtedness of the Borrower resulting from each such Advance being evidenced by this Promissory Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and
also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 

 The Borrower hereby waives presentment, demand, protest and notice of any kind. No failure
to exercise, and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights. 

This Promissory Note incorporates, and the Borrower and Lender hereby are subject to, the provisions set forth in Section 10.14 of
the Credit Agreement. 
 This Promissory Note shall be governed by, and construed in accordance with, the laws of the State of
New York, United States. 
  

			
	THE GAP, INC.
		
	By	 	  

	Name:	 	
	Title:	 	

  

 Exh. B Page 2 

 EXHIBIT C 

FORM OF ASSIGNMENT AND ACCEPTANCE 

Dated              , 200   

Reference is made to the Credit Agreement, dated as of August 30, 2004 (the “Credit Agreement”), among The Gap,
Inc., a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower, as “LC Subsidiaries” and “Subsidiary Borrowers,” as the case may be, the Lenders (as defined in the Credit
Agreement), certain Issuing Banks, certain Co-Syndication Agents parties thereto, Citigroup Global Markets Inc. and Banc of America Securities LLC as Joint Lead Arrangers, and Citicorp USA, Inc., as Agent for the Lenders and Issuing Banks (the
“Agent”). Terms defined in the Credit Agreement are used herein with the same meaning. 

             (the “Assignor”) and
             (the “Assignee”) agree as follows: 

1. The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, such
respective interests in and to all of the Assignor’s rights and obligations under the Credit Agreement as of the date hereof which represent the respective percentage interests specified on Schedule 1 of all outstanding rights and obligations
under the Credit Agreement in respect of (a) the Assignor’s Commitment and the Advances owing to the Assignor and (b) the Issuing Commitment and participations in Letter of Credit Liability of the Assignor. After giving effect to such
sale and assignment, (i) the Assignee’s Commitment and the amount of the Advances owing to the Assignee and (ii) such Assignee’s Issuing Commitment and participations in Letter of Credit Liability will be as set forth,
respectively, in Section 2 of Schedule 1. 
 2. The Assignor (a) represents and warrants that it is the legal and
beneficial owner of the interests being assigned by it hereunder and that such interests are free and clear of any adverse claim; (b) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties
or representations made in or in connection with the Credit Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document furnished pursuant thereto and
(c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower, any Subsidiary Borrower or any LC Subsidiary or the performance or observance by the Borrower, any Subsidiary
Borrower or any LC Subsidiary of any of its respective obligations under the Credit Agreement or any other instrument or document furnished pursuant thereto. 

3. The Assignee (a) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements
referred to in Section 6.01 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance; (b) agrees that it will, independently and
without reliance upon the Agent, the Issuing Banks, the Assignor or any other Lender and based on such documents and information as it shall deem appropriate at the time, 

 
continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (c) confirms that it is an Eligible Assignee; (d) appoints and authorizes the Agent
and the Issuing Banks to take such action on its behalf and to exercise such powers under the Credit Agreement as are delegated to the Agent and the Issuing Banks by the terms thereof, together with such powers as are reasonably incidental thereto;
(e) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as Lender; [and] (f) specifies as its Domestic Lending Office (and address
for notices) and Eurodollar Lending Office the offices set forth beneath its name on the signature pages hereof [and (g) attaches the forms prescribed by the Internal Revenue Service of the United States certifying as to the Assignee’s
status for purposes of determining exemption from United States withholding taxes with respect to all payments to be made to the Assignee under the Credit Agreement or such other documents as are necessary to indicate that all such payments are
subject to such rates at a rate reduced by an applicable tax treaty].* 
 4. Following the execution of this Assignment and
Acceptance by the Assignor and the Assignee, it will be delivered to the Agent for acceptance and recording by the Agent. The effective date of this Assignment and Acceptance shall be the date of acceptance thereof by the Agent, unless otherwise
specified on Schedule 1 hereto (the “Effective Date”). 
 5. Upon such acceptance and recording by the Agent,
as of the Effective Date, (a) the Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of Lender thereunder and (b) the Assignor shall, to the
extent provided in this Assignment and Acceptance, relinquish its rights and be released from its obligations under the Credit Agreement. 

6. Upon such acceptance and recording by the Agent, from and after the Effective Date, the Agent shall make (and shall direct the Issuing
Banks to make) all payments under the Credit Agreement in respect of the interests assigned hereby (including, without limitation, all payments of principal, interest and utilization fees, facility fees and letter of credit facility fees with
respect thereto) to the Assignee. The Assignor and Assignee shall make all appropriate adjustments in payments under the Credit Agreement for periods prior to the Effective Date directly between themselves. 

7. This Assignment and Acceptance shall be governed by, and construed in accordance with, the laws of the State of New York. 

IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Acceptance to be executed by their respective officers thereunto
duly authorized, as of the date first above written, such execution being made on Schedule 1 hereto. 
  

	*	If the Assignee is organized under the laws of a jurisdiction outside the United States. 

 

 Exh. C - Page 2 

 Schedule 1 to 

Assignment and Acceptance 

Dated             , 200   

 

					
	Section 1.	  			
		
	Percentage Interest in Commitment and Advances:	  	 	            	% 
	Percentage Interest in participations in Letter of Credit Liability:	  	 	            	% 
		
	Section 2.	  			
		
	Assignee’s Commitment:	  	$	            	  
	Issuing Commitment	  	$	            	  
	Aggregate outstanding principal amount of Advances owing to Assignee:	  	$	            	  
	Aggregate outstanding amount of Assignee’s participations in Letter of Credit Liability:	  	$	            	  
		
	Section 3.	  			

 Effective
Date1::        
                 , 200   
  

			
	[NAME OF ASSIGNOR]
		
	By:	 	  

	Name	 	
	Title:	 	
	
	[NAME OF ASSIGNEE]
		
	By:	 	  

	Name	 	
	Title:	 	
	  
 Domestic Lending Office (and address for notices):

         [Address]
  

Eurodollar Lending Office:

        [Address]

 

	1
	 This date should be no earlier than the date of acceptance by the Agent. 

 

 Schedule 1 to Assignment and Acceptance – Page 1 

 Accepted this              day

 of               , 200   

 

			
	CITICORP USA, INC., as Agent
		
	By:	 	  

	Name	 	
	Title:	 	

 [Accepted this              day 

of               , 200   

 

			
	THE GAP, INC.
		
	By:	 	  

	Name	 	
	Title:]2

  

	2
	 If required under Section 10.07 of the Credit Agreement 

 

 Schedule 1 to Assignment and Acceptance – Page 2 

 Exhibit D-1 to the 

Credit Agreement 

[FORM OF OPINION OF IN-HOUSE COUNSEL TO LOAN PARTIES] 

1. The California Subsidiary is authorized to exercise all its powers, rights and privileges and is in good legal standing under the laws
of the State of California, and each of the Company and the Delaware Subsidiary is validly existing and in good standing under the Applicable Law of the State of Delaware. 

2. Each Loan Party has the power and authority to execute, deliver and perform all of its obligations under each of the Transaction
Agreements to which it is a party, and the execution and delivery of each of the Transaction Agreements by each Loan Party which is a party thereto and the consummation by each Loan Party of the transactions contemplated thereby have been duly
authorized by all requisite action on the part of each Loan Party. Each of the Transaction Agreements has been duly executed and delivered by each Loan Party which is a party thereto. 

3. The execution and delivery by each Loan Party of each of the Transaction Agreements to which it is a party and the performance by each
Loan Party of its obligations under each of the Transaction Agreements, each in accordance with its terms, does not (i) conflict with the Constitutive Documents of each of the Loan Parties, (ii) constitute a violation of, or a default under, any
Applicable Contracts or (iii) cause the creation of any security interest or lien upon any of the property of the Loan Parties pursuant to any Applicable Contracts to which it is a party. I call to your attention that certain of the Applicable
Contracts are governed by laws other than those as to which I express my opinion. I express no opinion as to the effect of such other laws on the opinions herein stated. 

4. Neither the execution, delivery nor performance by any Loan Party of the Transaction Agreements to which it is a party will contravene
any provision of any Applicable Law. 
 5. No Governmental Approval, which has not been obtained or taken and is not in full
force and effect, is required to authorize, or is required in connection with, the execution, delivery or performance of any of the Transaction Agreements by any Loan Party. 

6. There is no action, suit or proceeding pending or, to my knowledge, overtly threatened against any Loan Party in or before any court,
Governmental Authority or arbitrator, which has a reasonable probability (taking into account the exhaustion of all appeals and the assertion of all defenses) of having a Material Adverse Effect or which purports to affect the legality, validity or
enforceability of any Loan Document. 

 Exhibit D-2 to the 

Credit Agreement 

[FORM OF CORPORATE OPINION OF SPECIAL NEW YORK COUNSEL TO THE 

LOAN PARTIES] 
  

	1.	Each of the Transaction Agreements constitutes the valid and binding obligation of each Loan Party which is a party thereto, enforceable against each such Loan Party in
accordance with its terms, under the Applicable Laws of the State of New York. 

  

	2.	Neither the execution, delivery or performance by any Loan Party of the Transaction Agreements to which it is a party, nor the compliance by any Loan Parties with the
terms and provisions thereof will contravene any provision of any Applicable Law of the State of New York or any Applicable Law of the United States of America. 

 

	3.	No Governmental Approval, which has not been obtained or taken and is not in full force and effect, is required to authorize, or is required in connection with, the
execution or delivery of any of the Transaction Agreements by any Loan Party or the enforceability of any of the Transaction Agreements against any Loan Party. 

 

	4.	The Loan Parties are not and, solely after giving effect to the transactions contemplated by the Transaction Agreements to which they are a party, will not be an
“investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

  

	5.	Neither the execution, delivery or performance by any Loan Party of the Transaction Agreements to which it is a party nor the compliance by such Loan Party with the
terms and provisions thereof will violate any provision of the Public Utility Holding Company Act of 1935, as amended. 

 Exhibit E to the 

Credit Agreement 

[FORM OF OPINION OF SPECIAL NEW YORK COUNSEL TO THE AGENT] 

We are of the opinion that the Opinion Documents are the legal, valid and binding obligation of each Loan Party thereto, enforceable against each such
Loan Party in accordance with its respective terms. 

 EXHIBIT F 

FORM OF ASSUMPTION AGREEMENT 

Dated:             , 200   

The Gap, Inc. 
 900 Cherry Avenue 

San Bruno, California 94066 
 Attention:
Treasurer 
 Citicorp USA, Inc., 

  as Agent for the Lender Parties 

  to the Credit Agreement referred to below 

[399 Park Avenue 
 New York, New York 10043]

 Attention: Credit Administration 

Ladies and Gentlemen: 

Reference is made to the Credit Agreement, dated as of August 30, 2004 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement,” the terms defined therein being used herein as therein defined), among The Gap, Inc., a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower, certain
Lenders party thereto, certain Issuing Banks, certain Co-Syndication Agents parties thereto, Citigroup Global Markets Inc. and Banc of America Securities LLC as Joint Lead Arrangers, and Citicorp USA, Inc., as Agent for such Lenders and the Issuing
Banks. 
 The undersigned (the “Assuming Lender”) proposes to become an Assuming Lender pursuant to
Section 2.04(c) of the Credit Agreement and, in that connection, hereby agrees that it shall become a Lender for purposes of the Credit Agreement on the applicable Commitment Increase Effective Date and that its Commitment shall as of such date
be $            . 
 The undersigned (a) confirms that it has
received a copy of the Credit Agreement, together with copies of the financial statements referred to in Section 6.01(f) thereof, the most recent financial statements referred to in Section 7.04 thereof and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assumption Agreement; (b) agrees that it will, independently and without reliance upon the Agent or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (c) appoints and authorizes the Agent and the Issuing Banks to take such
action as agent on its behalf and to exercise such powers under the Credit Agreement as are delegated to the Agent and the Issuing Banks by the terms thereof, together with such powers as are reasonably incidental thereto; (d) agrees that it
will perform in accordance with their terms all 

 
of the obligations which by the terms of the Credit Agreement are required to be performed by it as Lender; (e) confirms that it is an Eligible Assignee; (f) specifies as its Applicable
Lending Offices (and address for notices) the offices set forth beneath its name on the signature pages hereof; and (g) attaches the forms prescribed by the Internal Revenue Service of the United States required under Section 4.02 of the
Credit Agreement. 
 The effective date for this Assumption Agreement shall be the applicable Commitment Increase Effective
Date. Upon delivery of this Assumption Agreement to the Borrower and the Agent, and satisfaction of all conditions imposed under Section 2.04 (c) as of [date specified above], the undersigned shall be a party to the Credit Agreement and
have the rights and obligations of a Lender thereunder. As of [date specified above], the Agent shall make all payments under the Credit Agreement in respect of the interest assigned hereby (including, without limitation, all payments of principal,
interest and facility fees) to the Assuming Lender. 
 This Assumption Agreement may be executed in counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart by telecopier shall
be effective as delivery of a manually executed counterpart of this Assumption Agreement. 
  

 Exh. F Page 2 

 This Assumption Agreement shall be governed by, and construed in accordance with, the laws
of the State of New York. 
  

			
	 Very truly yours,
  

[NAME OF ASSUMING LENDER]
  

	By:	 	  

	Name:	 	
	Title:	 	
	  
 Domestic Lending Office (and address for notices):

  
 [Address]

 
 Eurodollar Lending Office

 
 [Address]

 

			
	 Acknowledged and Agreed to:
  

THE GAP, INC.
  

	By:	 	  

	Name:	 	
	Title:	 	
	  
 CITICORP USA, INC.

 

	By:	 	  

	Name:	 	
	Title:	 	

  

 Exh. F Page 33-Year LC Agreement among The Gap, Inc., LC Subsidiaries, and HSBC Bank USA

 Exhibit 10.2 

U.S. $125,000,000 

3-YEAR LETTER OF CREDIT AGREEMENT 

Dated as of May 6, 2005 

among 
 THE GAP,
INC. 
 as Company, 

THE SUBSIDIARIES OF THE COMPANY NAMED HEREIN, 

as LC Subsidiaries, 

and 
 HSBC BANK
USA, NATIONAL ASSOCIATION, 
 as LC Issuer 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
			
		  	ARTICLE I	  	
			
		  	DEFINITIONS AND ACCOUNTING TERMS	  	
			
	SECTION 1.01	  	Certain Defined Terms	  	1
			
	SECTION 1.02	  	Computation of Time Periods	  	14
			
	SECTION 1.03	  	Accounting Terms	  	14
			
		  	ARTICLE II	  	
			
		  	AMOUNTS AND TERMS OF LETTERS OF CREDIT	  	
			
	SECTION 2.01	  	Letters of Credit	  	14
			
	SECTION 2.02	  	Limitation on Obligation to Issue Letters of Credit Denominated in Alternative Currencies	  	15
			
	SECTION 2.03	  	Issuing the Letters of Credit	  	15
			
	SECTION 2.04	  	Reimbursement Obligations	  	15
			
	SECTION 2.05	  	Letter of Credit Facility Fees	  	16
			
	SECTION 2.06	  	Indemnification; Nature of the LC Issuer’s Duties	  	16
			
	SECTION 2.07	  	Increased Costs	  	17
			
	SECTION 2.08	  	Uniform Customs and Practice	  	18
			
	SECTION 2.09	  	Reductions in Facility Amount	  	18
			
	SECTION 2.10	  	Existing Letters of Credit/Deemed Letters of Credit	  	18
			
	SECTION 2.11	  	Currency Provisions.	  	19
			
	SECTION 2.12	  	Company Guaranty.	  	20
			
	SECTION 2.13	  	Dollar Payment Obligation	  	22
			
	SECTION 2.14	  	Applications; Survival of Provisions	  	22
			
	SECTION 2.15	  	Letters of Credit Outstanding on Termination Date	  	23
			
	SECTION 2.16	  	LC Subsidiaries	  	23

  

 i 

					
		  	ARTICLE III	  	
			
		  	PAYMENTS, TAXES, ETC.	  	
			
	SECTION 3.01	  	Payments and Computations	  	23
			
	SECTION 3.02	  	Taxes	  	24
			
		  	ARTICLE IV	  	
			
		  	CONDITIONS OF ISSUANCE	  	
			
	SECTION 4.01	  	Conditions Precedent to Effectiveness of this Agreement	  	28
			
	SECTION 4.02	  	Conditions Precedent to Each Issuance	  	29
			
		  	ARTICLE V	  	
			
		  	REPRESENTATIONS AND WARRANTIES	  	
			
	SECTION 5.01	  	Representations and Warranties of the Company	  	30
			
		  	ARTICLE VI	  	
			
		  	COVENANTS OF THE COMPANY	  	
			
	SECTION 6.01	  	Affirmative Covenants	  	32
			
	SECTION 6.02	  	Negative Covenants	  	33
			
	SECTION 6.03	  	Financial Covenants	  	36
			
	SECTION 6.04	  	Reporting Requirements	  	36
			
		  	ARTICLE VII	  	
			
		  	EVENTS OF DEFAULT	  	
			
	SECTION 7.01	  	Events of Default	  	38
			
		  	ARTICLE VIII	  	
			
		  	MISCELLANEOUS	  	
			
	SECTION 8.01	  	Amendments, Etc.	  	40
			
	SECTION 8.02	  	Notices, Etc	  	41

  

 ii 

					
	SECTION 8.03	  	No Waiver; Remedies	  	41
			
	SECTION 8.04	  	Costs and Expenses.	  	41
			
	SECTION 8.05	  	Right of Set-off	  	42
			
	SECTION 8.06	  	Binding Effect	  	43
			
	SECTION 8.07	  	Assignments and Participations	  	43
			
	SECTION 8.08	  	Severability of Provisions	  	44
			
	SECTION 8.09	  	Independence of Provisions	  	44
			
	SECTION 8.10	  	Confidentiality	  	45
			
	SECTION 8.11	  	Headings	  	45
			
	SECTION 8.12	  	Entire Agreement	  	45
			
	SECTION 8.13	  	Execution in Counterparts	  	45
			
	SECTION 8.14	  	Consent to Jurisdiction	  	45
			
	SECTION 8.15	  	GOVERNING LAW	  	46
			
	SECTION 8.16	  	WAIVER OF JURY TRIAL	  	46

  

 iii 

 SCHEDULES AND EXHIBITS 

 

					
	Schedules	 		 	
			
	Schedule I	 	-	 	Change of Control
	Schedule II	 	-	 	Outstanding Balance of Existing Letters of Credit
	Schedule III	 	-	 	LC Subsidiaries
	Schedule IV	 	-	 	Plans
	Schedule V	 	-	 	ERISA Matters
	Schedule VI	 	-	 	Environmental Matters
	Schedule VII	 	-	 	Existing Debt
	Schedule VIII	 	-	 	Existing Liens
			
	Exhibits	 		 	
			
	Exhibit A-1	 	-	 	Form of Opinion of Counsel to the Account Parties
	Exhibit A-2	 	-	 	Form of Corporate Opinion of Special New York Counsel to the Account Parties
	Exhibit B	 	-	 	Form of Compliance Certificate

  

 iv 

 3-YEAR LETTER OF CREDIT AGREEMENT, dated as of May 6, 2005 (this
“Agreement”), among The Gap, Inc., a Delaware corporation (the “Company”), the LC Subsidiaries (as hereinafter defined) and HSBC Bank USA, National Association (the “LC Issuer”). 

PRELIMINARY STATEMENTS: 

(1) The Company, certain of its subsidiaries, and the LC Issuer entered into a Letter of Credit Agreement dated as of June 25, 2003
(the “Existing Letter of Credit Agreement”). 
 (2) The Company and the LC Subsidiaries are to enter into a
364-day letter of credit agreement on or about the date hereof with the LC Issuer, on substantially similar terms to the terms hereof (the “364-Day Agreement”). 

(3) The Company, the LC Subsidiaries and the LC Issuer desire to enter into this Agreement to provide a trade letter of credit facility
to the Company and the LC Subsidiaries as set forth below and, together with the 364-Day Agreement, to replace the Existing Letter of Credit Agreement. 

NOW THEREFORE, the Company, the LC Subsidiaries and the LC Issuer agree as follows: 

ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 

SECTION 1.01 Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined): 

“Account Parties” means, collectively, the Company and each of the LC Subsidiaries. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is
controlled by, or is under common control with, such Person. 
 “Alternative Currency” means any
lawful currency other than Dollars which is freely transferable and convertible into Dollars and which the LC Issuer can obtain in the ordinary course of its business. 

“Applicable Issuing Office” means the office of the LC Issuer specified as its “Issuing Office”
on the signature page hereto, or such other office of the LC Issuer as the LC Issuer may from time to time specify to the Company. 

“Applicable Margin” means, as of any date, a percentage per annum determined by reference to the
applicable Performance Level in effect on such date as set forth below: 
  

													
	 Performance Level
	  	Level 1	  	Level 2	  	Level 3	  	Level 4	  	Level 5	  	Level 6
	 Percentage Per Annum
	  	0.100	  	0.125	  	0.150	  	0.200	  	0.250	  	0.375

  

 1 

 “Base Rate” means, for any period, a fluctuating interest
rate per annum as shall be in effect from time to time which rate per annum shall at all times be equal to the highest of: 

(a) the rate of interest announced publicly by the LC Issuer in New York, New York, from time to time, as the LC
Issuer’s base rate; 
 (b) 1/2% per annum above the latest three-week moving average of secondary
market morning offering rates in the United States for three-month certificates of deposit of major United States money market banks, such three-week moving average being determined weekly on each Monday (or, if any such date is not a Business Day,
on the next succeeding Business Day) for the three-week period ending on the previous Friday by the LC Issuer on the basis of such rates reported by certificate of deposit dealers to and published by the Federal Reserve Bank of New York or, if such
publication shall be suspended or terminated, on the basis of quotations for such rates received by the LC Issuer from three New York certificate of deposit dealers of recognized standing selected by the LC Issuer, in either case adjusted to the
nearest 1/4 of one percent or, if there is no nearest 1/4 of one percent, to the next higher 1/4 of one percent; and 

(c) 1/2% per annum above the Federal Funds Rate. 

“Business Day” means a day of the year on which banks are not required or authorized to close in New York
City or San Francisco, California and a day on which wire transfers may be effectuated among member banks of the Federal Reserve System through use of the fedwire funds transfer system and if the applicable Business Day relates to any Letter of
Credit denominated in an Alternative Currency, a day on which commercial banks are open for business in the country of issue of such Alternative Currency and on which dealings in such Alternative Currency are carried on by such commercial banks in
such country of issue (if such Alternative Currency is other than the Euro) or if such Alternative Currency is the Euro, a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is in operation.

 “Capital Lease” of any Person means any lease of any property (whether real, personal or
mixed) by such Person as lessee, which lease should, in accordance with GAAP, be required to be accounted for as a capital lease on the balance sheet of such Person. 

“Capital Lease Obligations” means the obligations of any Person to pay rent or other amounts under a
Capital Lease, the amount of which is required to be capitalized on the balance sheet of such Person in accordance with GAAP. 
  

 2 

 “CERCLA” means the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended (42 U.S.C. § 9601 et seq.), and any regulations promulgated thereunder. 

“Change of Control” means the occurrence, after the date of this Agreement, of (i) any Person or two
or more Persons acting in concert acquiring beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended), directly or indirectly, of
securities of the Company (or other securities convertible into such securities) representing 50% or more of the combined voting power of all securities of the Company entitled to vote in the election of directors; or (ii) during any period of
up to 24 consecutive months, commencing before or after the date of this Agreement, individuals who at the beginning of such 24-month period were directors of the Company ceasing for any reason to constitute a majority of the Board of Directors of
the Company unless the Persons replacing such individuals were nominated by the Board of Directors of the Company; or (iii) any Person or two or more Persons acting in concert acquiring by contract or otherwise, or entering into a contract or
arrangement which upon consummation will result in its or their acquisition of, control over securities of the Company (or other securities convertible into such securities) representing 50% or more of the combined voting power of all securities of
the Company entitled to vote in the election of directors; provided, that, the Person or group of Persons referred to in clauses (i) and (iii) of this definition of Change of Control shall not include any Person listed on
Schedule I hereto or any group of Persons in which one or more of the Persons listed on Schedule I are members. 

“Confidential Information” means certain non-public, confidential or proprietary information and material
disclosed, from time to time, either orally, in writing, electronically or in some other form by the Company in connection with the LC Facility Documents. Confidential Information shall include, but not be limited to non-public, confidential or
proprietary information, trade secrets, know-how, inventions, techniques, processes, algorithms, software programs, documentation, screens, icons, schematics, software programs, source documents and other MIS related information; contracts, customer
lists, financial information, financial forecasts, sales and marketing plans and information and business plans, products and product designs; textile projections and results; ideas, designs and artwork for all types of marketing, advertising,
public relations and commerce (including ideas, designs and artwork related to the World Wide Web and any Web Site of the Company or any Subsidiary); textile designs; advertising, strategies, plans and results; sourcing information; vendor lists,
potential product labeling and marking ideas; all materials including, without limitation, documents, drawings, samples, sketches, designs, and any other information concerning, color palette and color standards furnished to the LC Issuer by the
Company or any Subsidiary; customer base(s); and other non-public information relating to the Company’s or any Subsidiary’s business. 

“Consolidated” and any derivative thereof each means, with reference to the accounts or financial reports
of any Person, the consolidated accounts or financial reports of such Person and each Subsidiary of such Person determined in accordance with GAAP, including principles of consolidation, consistent with those applied in the preparation of the
Consolidated financial statements of the Company referred to in Section 5.01(e) hereof. 
  

 3 

 “Constitutive Documents” means, with respect to any Person,
the certificate of incorporation or registration (including, if applicable, certificate of change of name), articles of incorporation or association, memorandum of association, charter, bylaws, certificate of limited partnership, partnership
agreement, trust agreement, joint venture agreement, certificate of formation, articles of organization, limited liability company operating or members agreement, joint venture agreement or one or more similar agreements, instruments or documents
constituting the organization or formation of such Person. 
 “Debt” of any Person means,
without duplication, (i) all indebtedness of such Person for borrowed money or for the deferred purchase price (excluding any deferred purchase price that constitutes an account payable incurred in the ordinary course of business) of property
or services, (ii) all obligations of such Person in connection with any agreement to purchase, redeem, exchange, convert or otherwise acquire for value any capital stock of such Person or to purchase, redeem or acquire for value any warrants,
rights or options to acquire such capital stock, now or hereafter outstanding, (iii) all obligations of such Person evidenced by bonds, notes, debentures, convertible debentures or other similar instruments, (iv) all indebtedness created
or arising under any conditional sale or other title retention agreement (other than under any such agreement which constitutes or creates an account payable incurred in the ordinary course of business) with respect to property acquired by such
Person (even though the rights and remedies of the seller or lender under such agreement in the event of default, acceleration, or termination are limited to repossession or sale of such property), (v) all Capital Lease Obligations,
(vi) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the
kinds referred to in clauses (i) through (v) above, (vii) all Debt referred to in clause (i), (ii), (iii), (iv), (v), or (vi) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise,
to be secured by) any lien, security interest or other charge or encumbrance upon or in property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the
payment of such Debt and (viii) all mandatorily redeemable preferred stock of such Person, valued at the applicable redemption price, plus accrued and unpaid dividends payable in respect of such redeemable preferred stock. 

“Default” means an event which would constitute an Event of Default but for the requirement that notice
be given or time elapse, or both. 
 “Dollars,” “dollars” and the sign
“$” each means lawful money of the United States. 
 “Domestic Subsidiary”
means, at any time, any of the direct or indirect Subsidiaries of the Company that is incorporated or organized under the laws of any state of the United States of America or the District of Columbia. 

 

 4 

 “EBITDA” means, for any period, Net Income plus, to the
extent deducted in determining such Net Income, the sum of (a) Interest Expense, (b) income tax expense, (c) depreciation expense and (d) amortization expense, all determined on a Consolidated basis for the Company and its
Subsidiaries in accordance with GAAP. 
 “Effective Date” has the meaning specified in
Section 4.01 hereof. 
 “Effective Date Rating” means, with respect to the
non-credit-enhanced long-term senior unsecured debt issued by the Company, BBB- by S&P and Baa3 by Moody’s. 

“Eligible Assignee” means (i) a commercial bank organized under the laws of the United States, or
any State thereof, and having a combined capital and surplus of at least $100,000,000; (ii) a commercial bank organized under the laws of any other country which is a member of the OECD, or a political subdivision of any such country, and
having a combined capital and surplus of at least $100,000,000; provided, that, such bank is acting through a branch or agency located in the United States; (iii) a Person that is primarily engaged in the business of commercial
banking and that is (a) a Subsidiary of the LC Issuer, (b) a Subsidiary of a Person of which the LC Issuer is a Subsidiary, or (c) a Person of which the LC Issuer is a Subsidiary; (iv) an Affiliate of the LC Issuer;
(v) except with respect to an assignment of the obligation to Issue Letters of Credit, any other entity which is an “accredited investor” (as defined in Regulation D under the Securities Act of 1933, as amended) which extends credit
or buys loans as one of its businesses, including but not limited to, insurance companies, mutual funds and lease financing companies; and (vi) any other Person acceptable to the LC Issuer and, provided no Event of Default is continuing, the
Company. No Account Party or any Affiliate thereof shall be an Eligible Assignee. 
 “Environmental
Law” means any Requirement of Law relating to (a) the generation, use, handling, transportation, treatment, storage, disposal, release or discharge of Hazardous Substances, (b) pollution or the protection of the environment,
health, safety or natural resources or (c) occupational safety and health, industrial hygiene, land use or the protection of human, plant or animal health or welfare, including, without limitation, CERCLA, in each case as amended from time to
time, and including the regulations promulgated and the rulings issued from time to time thereunder. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) which is a member of a
controlled group of which the Company or any Subsidiary of the Company is a member or which is under common control with the Company or any Subsidiary of the Company within the meaning of Section 414 of the Internal Revenue Code of 1986, as
amended from time to time, and the regulations promulgated and rulings issued thereunder. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the
regulations promulgated and rulings issued thereunder. 
  

 5 

 “ERISA Event” means a reportable event with respect to a
Plan within the meaning of §4043 of ERISA. 
 “Euro” means the single currency of
participating member states of the European Union. 
 “Events of Default” has the meaning
specified in Section 7.01 hereof. 
 “Existing Letter of Credit Agreement” has the meaning
specified in Preliminary Statement (1). 
 “Existing Letters of Credit” has the meaning
specified in Section 2.10 hereof. 
 “Facility Amount” means $125,000,000 as such amount
may be reduced or increased from time to time in accordance with this Agreement. 
 “Federal Funds
Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the
average of the quotations for such day on such transactions received by the LC Issuer from three Federal funds brokers of recognized standing selected by it. 

“Fiscal Quarter” means any quarter in any Fiscal Year, the duration of such quarter being defined in
accordance with GAAP applied consistently with that applied in the preparation of the Company’s financial statements referred to in Section 5.01 (e) hereof. 

“Fiscal Year” means a fiscal year of the Company and its Subsidiaries. 

“Fixed Charge Coverage Ratio” means, for any period, the ratio of (a) the amount equal to the sum of
(i) Consolidated EBITDA and (ii) Lease Expense in each case for the Company and its Subsidiaries for such period, to (b) the sum of (i) Consolidated Interest Expense and (ii) Lease Expense, in each case for the Company and
its Subsidiaries for such period. 
 “Foreign Subsidiary” means, at any time, any direct or
indirect Subsidiary of the Company that is not a Domestic Subsidiary. 
 “Funded Debt” means, as
of any date of determination, all indebtedness (including Capital Lease Obligations but excluding all accounts payable incurred in the ordinary course of business) of the Company and its Subsidiaries on a Consolidated basis that would (or would be
required to) appear as liabilities for long-term Debt, short-term Debt, current maturities of Debt, and other similar interest-bearing obligations on a Consolidated balance sheet of the Company and its Subsidiaries in accordance with GAAP.

  

 6 

 “GAAP” means generally accepted accounting principles in
the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other
principles as may be approved by a significant segment of the accounting profession in the United States, applied on a basis consistent (except for changes concurred in by the Company’s independent public accountants) with the most recent
audited consolidated financial statements of the Company and its Subsidiaries delivered pursuant to Section 6.04. 

“Governmental Authority” means any nation or government, any state, province, city, municipal entity or
other political subdivision thereof, and any governmental, executive, legislative, judicial, administrative or regulatory agency, department, authority, instrumentality, commission, board or similar body, whether federal, state, provincial,
territorial, local or foreign. 
 “Governmental Authorization” means any authorization,
approval, consent, franchise, license, covenant, order, ruling, permit, certification, exemption, notice, declaration or similar right, undertaking or other action of, to or by, or any filing, qualification or registration with, any Governmental
Authority. 
 “Hazardous Substance” means (i) any hazardous substance or toxic substance as
such terms are presently defined or used in § 101(14) of CERCLA (42 U.S.C. § 9601(14)), in 33 U.S.C. § 1251 et. seq. (Clean Water Act), or 15 U.S.C. § 2601 et. seq. (Toxic Substances Control Act) and (ii) as of any date of
determination, any additional substances or materials which are hereafter incorporated in or added to the definition of “hazardous substance” or “toxic substance” for purposes of CERCLA or any other applicable law. 

“Hedge Agreements” means (a) any and all interest rate swaps, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward
bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swaps, cross-currency rate swaps, currency options, spot contracts or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., the International Foreign Exchange Master
Agreement, or any other master agreement, including any such obligations or liabilities under any such agreement. 

“Information Memorandum” means the information memorandum dated August 2004 prepared in connection with
the Revolving Credit Agreement. 
  

 7 

 “Interest Expense” of any Person for any period means the
aggregate amount of interest or fees paid, accrued or scheduled to be paid or accrued in respect of any Debt (including the interest portion of rentals under Capital Leases) and all but the principal component of payments in respect of conditional
sales, equipment trust or other title retention agreements paid, accrued or scheduled to be paid or accrued by such Person during such period, net of interest income, determined in accordance with GAAP. 

“Issue” means, with respect to any Letter of Credit, either to issue, or to extend the expiry of, or to
renew, or to increase the amount of, such Letter of Credit, and the term “Issued” or “Issuance” shall have corresponding meanings. 

“LC Collateral Account” means a deposit account in the name of the Company to be designated by the LC
Issuer from time to time in which cash has been deposited as collateral security for the reimbursement of drawings under any outstanding Letters of Credit in accordance with Sections 2.15 and 7.01. 

“LC Facility Documents” means, collectively, this Agreement, and each application or agreement and other
documents delivered in connection with Letters of Credit pursuant to Section 2.03 hereof, in each case as amended, supplemented or otherwise modified hereafter from time to time in accordance with the terms thereof and Section 8.01 hereof.

 “LC Issuer” means HSBC Bank USA, National Association or any Affiliate thereof as agreed to
from time to time by the Company and the LC Issuer, that may from time to time Issue Letters of Credit for the account of the Company or for the account of any LC Subsidiary. 

“LC Subsidiary” means, as of the date hereof, the Subsidiaries of the Company listed on Schedule III
hereto and, after the date hereof, any other Subsidiary of the Company that may from time to time become a party hereto and in connection therewith such other Subsidiary shall execute such documents as are reasonably requested by the LC Issuer to
evidence its agreement to be bound hereunder as an LC Subsidiary, and for whose account the LC Issuer may from time to time Issue Letters of Credit. 

“Lease Expense” means, with respect to any Person, for any period for such Person and its subsidiaries on
a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP. 

“Letter of Credit” means a Trade Letter of Credit which is in form and substance satisfactory to the LC
Issuer, as amended, supplemented or otherwise modified from time to time. 
 “Letter of Credit
Liability” means, as of any date of determination, all then existing liabilities of the Company and the LC Subsidiaries to the LC Issuer in respect of the Letters of Credit Issued for the Company’s account and for the account of the LC
Subsidiaries, whether such liability is contingent or fixed, and shall, in each case, consist of the sum of (i) the aggregate maximum amount (the determination of such maximum 

 

 8 

 
amount to assume compliance with all conditions for drawing) then available to be drawn under such Letters of Credit (including, without limitation, amounts available under such Letters of Credit
for which a draft has been presented but not yet honored) and (ii) the aggregate amount which has then been paid by, and not been reimbursed to, the LC Issuer under such Letters of Credit. For the purposes of determining the Letter of Credit
Liability, the face amount of Letters of Credit outstanding in an Alternative Currency shall be expressed as the equivalent of such Alternative Currency in Dollars as determined in Section 2.11(a) hereof. 

“Leverage Ratio” means, as of any date of determination, the ratio of (a) the amount equal to
Consolidated Funded Debt for the most recently completed four consecutive Fiscal Quarters ending on or prior to such date, to (b) Consolidated EBITDA for the most recently completed four consecutive Fiscal Quarters ending on or prior to such
date, in each case for the Company and its Subsidiaries as of such date. 
 “Lien” means any
assignment, chattel mortgage, pledge or other security interest or any mortgage, deed of trust or other lien, or other charge or encumbrance, upon property or rights (including after acquired property or rights), or any preferential arrangement with
respect to property or rights (including after acquired property or rights) which has the practical effect of constituting a security interest or lien. 

“Loan Party” has the meaning assigned to such term in the Revolving Credit Agreement. 

“Margin Stock” has the meaning assigned to such term in Regulation U of the Board of Governors of the
Federal Reserve System, as in effect from time to time. 
 “Material Adverse Change” means any
material adverse change in the business, condition (financial or otherwise), results of operations, or prospects of the Company and its Subsidiaries, taken as a whole; provided, that a downgrade of the Company’s public debt
ratings or a Negative Pronouncement shall not by itself be deemed to be a material adverse change; provided, further, the occurrence or subsistence of any such material adverse change which has been disclosed (a) by the Company in
any filing made with the Securities and Exchange Commission prior to the date of this Agreement, (b) by the Company in a public announcement prior to the date of this Agreement, or (c) in the Information Memorandum, shall not constitute a
Material Adverse Change. 
 “Material Adverse Effect” means a material adverse effect on the
financial condition or results of operations of the Company and its Subsidiaries taken as a whole. 

“Material LC Subsidiary” means, at any date of determination, an LC Subsidiary that, either individually
or together with its Subsidiaries, taken as a whole, has assets exceeding      percent (    %) of the consolidated total assets of the Company and its Subsidiaries as at the end of the
immediately preceding fiscal year. 
 “Moody’s” means Moody’s Investors Service, Inc.

  

 9 

 “Multiemployer Plan” means a “multiemployer plan”
as defined in Section 4001(a)(3) of ERISA to which the Company or any Subsidiary of the Company or any ERISA Affiliate is making or accruing an obligation to make contributions or has within any of the preceding five plan years made or accrued
an obligation to make contributions. 
 “Negative Pronouncement” means a public announcement by
either S&P or Moody’s in respect to a possible downgrade of, or negative outlook with respect to, the public debt rating of the Company. 

“Net Income” of any Person means, for any period, net income before (i) extraordinary items,
(ii) the results of discontinued operations and (iii) the effect of any cumulative change in accounting principles, determined in accordance with GAAP. 

“Obligation” means, with respect to any Person, any payment, performance or other obligation of such
Person of any kind, including, without limitation, any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured,
disputed, undisputed, legal, equitable, secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any proceeding referred to in Section 7.01(e) hereof. Without limiting the generality of the foregoing,
the Obligations of the Account Parties under the LC Facility Documents include (a) the obligation to pay any reimbursement amount, interest, commissions, charges, expenses, fees, attorneys’ fees and disbursements, indemnity payments and
other amounts payable by any Account Party under any LC Facility Document and (b) the obligation of any Account Party to reimburse any amount in respect of any of the foregoing items that the LC Issuer, in its sole discretion, may elect to pay
or advance on behalf of such Account Party. 
 “OECD” means the Organization for Economic
Cooperation and Development. 
 “Other LC Facilities” means the letter of credit facilities
entered into on or about the date hereof among the Company, the L/C Subsidiaries and each of Bank of America, N.A., HSBC Bank, National Association and JPMorgan Chase Bank, each on terms substantially similar to the terms hereof and of the 364-Day
Agreement, respectively, as each such agreement may be replaced, amended, supplemented or otherwise modified from time to time. 

“Other Taxes” has the meaning specified in Section 3.02(b) hereof. 

“Payment Office” means the office of the LC Issuer as shall be from time to time selected by the LC
Issuer and notified by the LC Issuer to the Company and the LC Subsidiaries. 
  

 10 

 “Performance Level” means Performance Level 1, Performance
Level 2, Performance Level 3, Performance Level 4, Performance Level 5, or Performance Level 6, as identified by reference to the public debt rating and Leverage Ratio in effect on such date as set forth below: 

 

			
	 Performance Level
	  	 Public Debt Rating

		
	Level 1	  	Long-term senior unsecured Debt of the Company rated at least A- by S&P or A3 by Moody’s or the Leverage Ratio is less than or equal to 1.25:1.00

		
	Level 2	  	Long-term senior unsecured Debt of the Company rated less than Level 1 but at least BBB+ by S&P or Baa1 by Moody’s or the Leverage Ratio is
less than or equal to 1.25:1.00
		
	Level 3	  	Long-term senior unsecured Debt of the Company rated less than Level 2 but at least BBB by S&P or Baa2 by Moody’s or the Leverage Ratio is
less than or equal to 1.25:1.00
		
	Level 4	  	Long-term senior unsecured Debt of the Company rated less than Level 3 but at least BBB- by S&P or Baa3 by Moody’s or the Leverage Ratio is
less than or equal to 1.50:1.00
		
	Level 5	  	Long-term senior unsecured Debt of the Company rated less than Level 4 but at least BB+ by S&P or Ba1 by Moody’s or the Leverage Ratio is
less than or equal to 1.75:1.00
		
	Level 6	  	Long-term senior unsecured Debt of the Company rated less than Level 5 or the Leverage Ratio is greater than 1.75:1.00

For purposes of this definition, the Performance Level shall be determined by the applicable public debt rating or Leverage Ratio as follows:
(a) the public debt ratings above shall be determined as follows: (i) the public debt ratings shall be determined by the then-current rating announced by either S&P or Moody’s, as the case may be, for any class of
non-credit-enhanced long-term senior unsecured debt issued by the Company, (ii) if only one of S&P and Moody’s shall have in effect a public debt rating, the Performance Level shall be determined by reference to the available rating;
(iii) if neither S&P nor Moody’s shall have in effect a public debt rating, the applicable Performance Level will be Performance Level 6; (iv) if the ratings on the Company’s long-term senior unsecured debt established by
S&P and Moody’s shall fall within different levels, the public debt rating will be determined by the higher of the two ratings, provided, that, in the event that the lower of such ratings is more than one level below the
higher of such ratings, the public debt rating will be determined based upon the level that is one level above the lower of such ratings; (v) if any rating established by S&P or Moody’s shall be changed, such change shall be effective
as of the date on which such change is first announced publicly by the rating agency making such change; and (vi) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the public debt rating
announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be; (b) the Leverage Ratio shall be determined on the basis of the most recent certificate of the
Company to be delivered pursuant to Section 6.04(c) for the most recently ended Fiscal Quarter or Fiscal Year and any change in the Leverage Ratio shall be 

 

 11 

 
effective one Business Day after the date on which the LC Issuer receives such certificate; provided, that until the Company has delivered to the LC Issuer such certificate pursuant
to Section 6.04(c) in respect of the first Fiscal Quarter of 2005, the Leverage Ratio shall be deemed to be at Level 3; provided, further, that for so long as the Company has not delivered such certificate when due pursuant to
Section 6.04(c), the Leverage Ratio shall be deemed to be at the level set forth in Level 6 until the respective certificate is delivered to the LC Issuer; and (c) the Performance Level shall be determined in accordance with the
Company’s respective public debt rating and Leverage Ratio, provided, that, if the Company’s public debt rating and the Leverage Ratio shall fall within different levels, the Performance Level will be determined by the higher
of the public debt rating and the Leverage Ratio, provided, further, that, in the event that the lower of the Company’s public debt rating and the Leverage Ratio is more than one level below the higher of the Company’s
public debt rating and the Leverage Ratio, the Performance Level shall be determined based upon the level that is one level above the lower of the Company’s public debt rating and the Leverage Ratio. 

“Permitted Liens” means: 

(i) Liens for taxes, assessments or governmental charges or levies to the extent not past due or to the extent contested,
in good faith, by appropriate proceedings and for which adequate reserves have been established; 

(ii) Liens imposed by law, such as materialman’s, mechanic’s, carrier’s, worker’s,
landlord’s and repairman’s Liens and other similar Liens arising in the ordinary course of business which relate to obligations which are not overdue for a period of more than 30 days or which are being contested in good faith, by
appropriate proceedings and for which reserves required by GAAP have been established; 
 (iii) pledges or
deposits in the ordinary course of business to secure obligations (including to secure letters of credit posted in connection therewith) under worker’s compensation or unemployment laws or similar legislation or to secure the performance of
leases or contracts (including insurance contracts issued by insurance companies which are Subsidiaries of the Company) entered into in the ordinary course of business or of public or statutory obligations, bids, or appeal bonds; 

(iv) zoning restrictions, easements, licenses, landlord’s Liens or restrictions on the use of property which do
not materially impair the use of such property in the operation of the business of the Company or any of its Subsidiaries; 

(v) Liens upon assets subject to a Capital Lease and securing payment of the obligations arising under such Capital
Lease; 
 (vi) Liens of the Company and its Subsidiaries not described in the foregoing clauses
(i) through (v) existing on the Effective Date and listed on Schedule VIII and any extensions, renewals or replacements of such Liens for the same or lesser amount, provided, that, no such extension, renewal or replacement
shall extend to or cover any property not theretofore subject to the Lien being extended, renewed or replaced; 
  

 12 

 (vii) judgment Liens in respect of judgments that do not constitute an Event
of Default under Section 7.01(f); and 
 (viii) Liens arising out of or pursuant to this Agreement and
the Other LC Facilities. 
 “Person” means an individual, partnership, limited liability
company, corporation (including a business trust), joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means an employee benefit plan (other than a Multiemployer Plan) maintained by the Company, any
Subsidiary of the Company or any ERISA Affiliate for its employees and subject to Title IV of ERISA. 

“Requirements of Law” means, with respect to any Person, all laws, constitutions, statutes, treaties,
ordinances, rules and regulations, all orders, writs, decrees, injunctions, judgments, determinations and awards of an arbitrator, a court or any other Governmental Authority, and all Governmental Authorizations, binding upon or applicable to such
Person or to any of its properties, assets or businesses. 
 “Responsible Officer” means, with
respect to any certificate, report or notice to be delivered or given hereunder, unless the context otherwise requires, the president, chief executive officer, chief financial officer or treasurer of the Company or other executive officer of the
Company who in the normal performance of his or her operational duties would have knowledge of the subject matter relating to such certificate, report or notice. 

“Revolving Credit Agreement” means that certain Revolving Credit Agreement dated as of August 30,
2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time. 

“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

 “Subsidiary” means, with respect to any Person, any corporation, partnership, trust or other
Person of which more than 50% of the outstanding capital stock (or similar property right in the case of partnerships and trusts and other Persons) having ordinary voting power to elect a majority of the board of directors of such corporation (or
similar governing body or Person with respect to partnerships and trusts and other Persons) (irrespective of whether or not at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the
occurrence of any contingency) is at the time directly or indirectly owned by such Person, by such Person and one or more other Subsidiaries of such Person, or by one or more other Subsidiaries of such Person. 

“Subsidiary LC Obligations” has the meaning specified in Section 2.12(b) hereof. 

 

 13 

 “Tangible Net Worth” means the consolidated
shareholder’s equity of the Company and its Subsidiaries, determined in accordance with GAAP less goodwill and other intangibles (other than patents, trademarks, licenses, copyrights and other intellectual property and prepaid assets).

 “Taxes” has the meaning specified in Section 3.02(a) hereof. 

“Termination Date” means the third anniversary of the date of this Agreement, or the earlier date of
termination of the obligation of the LC Issuer to issue Letters of Credit pursuant to Section 7.01 hereof. 

“364-Day Agreement” has the meaning set forth in the Preliminary Statements hereto. 

“Total Assets” means, as of any date of determination, the consolidated assets of the Company and its
Subsidiaries at the end of the Fiscal Quarter immediately preceding such date, determined in accordance with GAAP. 

“Trade Letter of Credit” means a direct-pay trade or documentary letter of credit issued for the benefit
of a vendor in connection with the purchase of goods by the Company or any of its Subsidiaries in the ordinary course of business. 

“UCP” has the meaning specified in Section 2.08 hereof. 

“Withdrawal Liability” has the meaning specified in Part I of Subtitle E of Title IV of ERISA.

 SECTION 1.02 Computation of Time Periods. In this Agreement in the computation of periods of time from a specified
date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding”. 

SECTION 1.03 Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP
applied in a consistent manner with that applied in the preparation of the financial statements referred to in Section 5.01 (e) hereof. 

ARTICLE II 

AMOUNTS AND TERMS OF LETTERS OF CREDIT 

SECTION 2.01 Letters of Credit. The LC Issuer agrees, on the terms and conditions hereinafter set forth, to Issue for the account
of the Company or any LC Subsidiary, one or more Letters of Credit from time to time during the period from the date of this Agreement until the day that is five Business Days prior to the Termination Date in an aggregate undrawn amount not to
exceed at any time the Facility Amount in effect at such time (inclusive of the Dollar equivalent of Letters of Credit Issued in Euro, or in any other Alternative Currency if the LC Issuer agrees to issue Letters of Credit in such other Alternative
Currency), each such Letter of Credit upon its Issuance to expire on or before the date which occurs one year from the date of its initial Issuance; provided, however, that the LC Issuer shall not be obligated to, and shall not, Issue any
Letter of Credit if: 
 (a) after giving effect to the Issuance of such Letter of Credit, the then
outstanding aggregate amount of all Letter of Credit Liability shall exceed the Facility Amount then in effect; or 
  

 14 

 (b) the LC Issuer shall have notified the Company that no further Letters of
Credit are to be Issued by the LC Issuer due to failure to meet any of the applicable conditions set forth in Article IV, and such notice has not been withdrawn. 

Within the limits of the obligations of the LC Issuer set forth above and in Section 2.02 hereof, the Company and each LC Subsidiary may request the
LC Issuer to Issue one or more Letters of Credit, reimburse the LC Issuer for payments made thereunder pursuant to Section 2.04(a) hereof and request the LC Issuer to Issue one or more additional Letters of Credit under this Section 2.01.

 SECTION 2.02 Limitation on Obligation to Issue Letters of Credit Denominated in Alternative Currencies. The LC Issuer
agrees to Issue from time to time Letters of Credit denominated in Euro and in its sole discretion upon request agrees to Issue from time to time Letters of Credit denominated in other Alternative Currencies, provided, that the LC Issuer shall not
be obligated to Issue any Letter of Credit denominated in Euro if, after giving effect to the Issuance of any such Letter of Credit denominated in Euro, the then outstanding aggregate amount of all Letter of Credit Liability with respect to all
Letters of Credit denominated in Euro equals or exceeds (on a Dollar equivalent basis) $50,000,000. 
 SECTION 2.03 Issuing
the Letters of Credit. Each Letter of Credit shall be Issued on a Business Day on reasonable prior notice by hand delivery, telecopier or transmitted by electronic communication (if arrangements for doing so have been approved by the LC Issuer)
from the Company or any LC Subsidiary, as the case may be, to the LC Issuer as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such
documents as the LC Issuer may specify to the Company or LC Subsidiary, as the case may be, in form and substance satisfactory to the LC Issuer. On the date specified by the Company or LC Subsidiary, as the case may be, in such notice and upon
fulfillment of the applicable conditions set forth in Section 2.01 hereof, the LC Issuer will Issue such Letter of Credit. 

SECTION 2.04 Reimbursement Obligations. The Company or the appropriate LC Subsidiary, as the case may be, shall: 

(a) pay to the LC Issuer an amount equal to, and in reimbursement for, each amount which the LC Issuer pays under any
Letter of Credit not later than the date which occurs one Business Day after notice from the LC Issuer to the Company of the payment of such amount by the LC Issuer under such Letter of Credit; and 

(b) pay to the LC Issuer interest on each amount which the LC Issuer pays under any Letter of Credit from the date on
which the LC Issuer pays such amount until such amount is reimbursed in full to the LC Issuer pursuant to subclause (i) above, payable on demand, at a fluctuating rate per annum equal to 2% per annum above the Base Rate in effect from time
to time. 
  

 15 

 SECTION 2.05 Letter of Credit Facility Fees. The Company hereby agrees to pay to the
LC Issuer a letter of credit facility fee, accruing from the date hereof until the Termination Date, at a rate per annum equal to the Applicable Margin in effect from time to time (i) on the Facility Amount in effect from time to time from and
after such date (regardless of the actual or deemed usage thereof), payable quarterly in arrears on the last day of each January, April, July and October and on the Termination Date and (ii) on the aggregate amount of Letter of Credit Liability
under all Letters of Credit that are outstanding beyond the Termination Date payable in arrears on the last day of each January, April, July and October after the Termination Date and on the first day after the Termination Date on which no Letters
of Credit are outstanding. 
 SECTION 2.06 Indemnification; Nature of the LC Issuer’s Duties. (a) The Company
agrees to indemnify and save harmless the LC Issuer from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable attorneys’ fees) which the LC Issuer may incur or be subject to as
a consequence, direct or indirect, of (i) the Issuance of any Letter of Credit or (ii) any action or proceeding relating to a court order, injunction, or other process or decree restraining or seeking to restrain the LC Issuer from paying
any amount under any Letter of Credit; provided, that, the LC Issuer shall not be indemnified for any of the foregoing caused by its gross negligence or willful misconduct. 

(b) The obligations of the Company and each LC Subsidiary hereunder with respect to Letters of Credit shall be
unconditional and irrevocable, and shall be paid strictly in accordance with the terms hereof under all circumstances, including, without limitation, any of the following circumstances: 

(a) any lack of validity or enforceability of any Letter of Credit or this Agreement or any agreement or instrument
relating thereto; 
 (b) the existence of any claim, setoff, defense or other right which the Company or any
LC Subsidiary may have at any time against the beneficiary, or any transferee, of any Letter of Credit, the LC Issuer, or any other Person; 

(c) any draft, certificate, or other document presented under any Letter of Credit proving to be forged, fraudulent,
invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 

(d) any lack of validity, effectiveness, or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part; 

(e) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any
Letter of Credit or of the proceeds thereof; 
  

 16 

 (f) any exchange, release or non-perfection of any collateral, or any
release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any guarantee, for all or any of the obligations of the Company or an LC Subsidiary in respect of the Letters of Credit; 

(g) any change in the time, manner or place of payment of, or in any other terms of, all or any of the obligations of
the Company or any LC Subsidiary in respect of the Letters of Credit or any other amendment or waiver of or any consent to departure from all or any of this Agreement; 

(h) any failure of the beneficiary of a Letter of Credit to strictly comply with the conditions required in order to
draw upon any Letter of Credit; 
 (i) any misapplication by the beneficiary of any Letter of Credit of the
proceeds of any drawing under such Letter of Credit; or 
 (j) any other circumstance or happening
whatsoever, whether or not similar to the foregoing; provided, that, notwithstanding the foregoing, the LC Issuer shall not be relieved of any liability it may otherwise have as a result of its gross negligence or willful misconduct. 

SECTION 2.07 Increased Costs. (a) Change in Law. If, at any time after the date of this Agreement, any change in any
law or regulation or in the interpretation thereof by any court or administrative or governmental authority charged with the administration thereof shall either (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against letters of credit or guarantees issued by, or assets held by or deposits in or for the account of, the LC Issuer or (ii) impose on the LC Issuer any other condition regarding this Agreement or the Letters of Credit or any
collateral thereon, and the result of any event referred to in clause (i) or (ii) above shall be to increase the cost (other than an increase in taxes, which increase is dealt with exclusively in Article III) to the LC Issuer of issuing,
maintaining or funding the Letters of Credit, then, upon demand by the LC Issuer, the Company shall pay to the LC Issuer, from time to time as specified by the LC Issuer, additional amounts sufficient to compensate the LC Issuer for such increased
cost; provided, that, the Company shall have no obligation to reimburse the LC Issuer for increased costs incurred more than 60 days prior to the date of such demand. A certificate as to the amount of such increased cost setting forth
the basis for the calculation of such increased costs, submitted by the LC Issuer to the Company, shall be conclusive and binding for all purposes, absent manifest error. 

(b) Capital. If, at any time after the date of this Agreement, the LC Issuer determines that compliance with any
law or regulation or any guideline or request from any central bank or other governmental authority (whether or not having the force of law) affects or would affect the amount of capital required or expected to be maintained by the LC Issuer or any
corporation controlling the LC Issuer and that the amount of such capital is increased by or based upon the existence of the LC Issuer’s commitment hereunder and other commitments of this type or the issuance of the Letters of Credit (or
similar contingent obligations), then, upon written demand by the LC Issuer, the 
  

 17 

 
Company shall pay to the LC Issuer, from time to time as specified by the LC Issuer, additional amounts sufficient to compensate the LC Issuer or such corporation in the light of such
circumstances, to the extent that the LC Issuer reasonably determines such increase in capital to be allocable to the existence of the LC Issuer’s commitment hereunder; provided, that, the Company shall have no obligation to pay
such compensatory amounts that relate to an actual increase in the capital of the LC Issuer undertaken by the LC Issuer more than 60 days prior to the date of such demand. A certificate as to such amounts setting forth the basis for the calculation
of such amount submitted to the Company by the LC Issuer shall be conclusive and binding for all purposes, absent manifest error. 

(c) Without prejudice to the survival of any other agreement of the Company hereunder, the agreements and obligations of
the Company contained in this Section 2.07 shall survive the payment in full (after the Termination Date) of all Obligations. 

(d) Without affecting its rights under Sections 2.07(a) or 2.07(b) hereof or any other provision of this Agreement, the LC
Issuer agrees that if there is any increase in any cost to or reduction in any amount receivable by the LC Issuer with respect to which the Company would be obligated to compensate the LC Issuer pursuant to Sections 2.07(a) or 2.07(b) hereof, the LC
Issuer shall use reasonable efforts to select an alternative Applicable Issuing Office, which would not result in any such increase in any cost to or reduction in any amount receivable by the LC Issuer; provided, however, that the LC
Issuer shall not be obligated to select an alternative Applicable Issuing Office if the LC Issuer determines that (i) as a result of such selection the LC Issuer would be in violation of any applicable law, regulation, treaty, or guideline, or
would incur additional costs or expenses or (ii) such selection would be inadvisable for regulatory reasons or inconsistent with the interests of the LC Issuer. 

SECTION 2.08 Uniform Customs and Practice. The Uniform Customs and Practice for Documentary Credits as most recently published by
the International Chamber of Commerce (“UCP”) shall in all respects be deemed a part of this Article II as if incorporated herein and shall apply to the Letters of Credit. 

SECTION 2.09 Reductions in Facility Amount. The Company shall have the right, upon at least three Business Days’ notice to
the LC Issuer, to reduce in whole or in part the Facility Amount, provided, that, each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $5,000,000 in excess thereof and no such reduction shall reduce the
Facility Amount below the then outstanding aggregate amount of all Letter of Credit Liability. 
 SECTION 2.10 Existing
Letters of Credit/Deemed Letters of Credit. (a) Existing Letters of Credit. There currently are outstanding certain Trade Letters of Credit issued by the LC Issuer under the Existing Letter of Credit Agreement the outstanding balance
of each of which is set forth on Schedule II hereto (as such Schedule may be modified between the date hereof and the fifth Business Day after the Effective Date) (collectively, the “Existing Letters of Credit”). From and after the
date hereof and upon fulfillment of the conditions to initial Issuance specified in Section 4.01 hereof, each such Existing Letter of Credit shall be deemed and treated 

 

 18 

 
for all purposes hereof (including, without limitation, the calculation of fees payable under Section 2.05 hereof, and calculating the usage of the Facility Amount under Section 2.01
hereof) as a “Letter of Credit” hereunder, any participation interest existing prior to the date hereof of the LC Issuer in such Existing Letters of Credit shall, without further action on its part, be deemed extinguished in full and the
LC Issuer, without further act on its part, shall be deemed to have Issued each such Existing Letter of Credit as provided in Section 2.01 hereof. 

(b) Deemed Letters of Credit. The Company may, not less than 30 days prior to the date upon which the 364-Day
Agreement will terminate (the “364-Day Termination Date”) deliver a notice to the LC Issuer (the “Notice of Election”), notifying the LC Issuer that the Company is electing to treat certain letters of credit issued
under the 364-Day Agreement as issued under this Agreement. On the 364-Day Termination Date, and upon fulfillment of the conditions to Issuance set forth in Section 4.02 hereof, any letter of credit issued pursuant to the terms of the 364-Day
Agreement and identified by the Company not less than five days prior to the 364-Day Termination Date in a written notice to the LC Issuer as being the subject of this Section 2.10(b) shall be deemed and treated for all purposes hereof
(including, without limitation, calculating the usage of the Facility Amount under Section 2.01 hereof) as a “Letter of Credit” hereunder and the LC Issuer, without further act on its part, shall be deemed to have Issued each such
letter of credit as provided in Section 2.01 hereof; provided, however, that the LC Issuer shall not be obligated to, and shall not, treat any such letter of credit as having been Issued hereunder if, after giving effect to the deemed
Issuance of such Letter of Credit, the then outstanding aggregate amount of all Letter of Credit Liability shall exceed the Facility Amount then in effect. 

SECTION 2.11 Currency Provisions. 

(a) Equivalents. For purposes of the provisions of Article II, (i) the equivalent in Dollars of any
Alternative Currency shall be determined by using the mean of the bid and offer quoted spot rates at which the LC Issuer’s principal office in New York, New York offers to exchange Dollars for such Alternative Currency in New York, New York at
11:00 A.M. (New York City time) on the Business Day on which such equivalent is to be determined and (ii) the equivalent in any Alternative Currency of Dollars shall be determined by using the mean of the bid and offer quoted spot rates at
which the LC Issuer’s principal office in New York, New York offers to exchange such Alternative Currency for Dollars in New York, New York at 11:00 A.M. (New York City time) on the Business Day on which such equivalent is to be determined.

 (b) Commitment. For purposes of determining the unused portion of the Facility Amount of the LC Issuer
specified in Section 2.01 hereof, the equivalent in Dollars of each Letter of Credit issued by the LC Issuer in an Alternative Currency as determined on the date of the Issuance of such Letter of Credit shall be the amount of the Facility
Amount of the LC Issuer used in connection with the Issuance of such Letter of Credit. Further adjustments shall be made with respect to the unused portion of the Facility Amount of the LC Issuer to Issue Letters of Credit based upon fluctuations
thereafter in the value of the Alternative Currency of such Letter of Credit as provided in subsection (c) below. 
  

 19 

 (c) Mark to Market. If, on any day, the equivalent in Dollars of the
aggregate face amount of all Letters of Credit then outstanding exceeds the Facility Amount then in effect, the Company shall, upon demand by the LC Issuer, immediately deposit with the LC Issuer, in Dollars, (i) the Dollar amount of such
excess plus (ii) a Dollar amount equal to the lesser of (A) $1,000,000 and (B) 5% of the Dollar equivalent of all then existing Letter of Credit Liability relating to Letters of Credit denominated in Alternative Currencies, which
amount shall be held by the LC Issuer as collateral for the Company’s and LC Subsidiaries’ obligations with respect to outstanding Letters of Credit. 

SECTION 2.12 Company Guaranty. 

(a) Generally. The LC Issuer may, from time to time, Issue Letters of Credit for the account of each LC Subsidiary
provided, that, the reimbursement and other obligations of each such LC Subsidiary are and remain unconditionally guaranteed by the Company pursuant to this Section 2.12. 

(b) Guaranty. The Company hereby unconditionally and irrevocably guarantees the punctual payment when due, whether
at stated maturity, by acceleration or otherwise, of all obligations of the LC Subsidiaries now or hereafter existing under this Agreement with respect to Letters of Credit issued for the account of any of the LC Subsidiaries, including any
extensions, modifications, substitutions, amendments and renewals thereof, whether for reimbursement obligations, interest, fees, expenses or otherwise (such obligations being the “Subsidiary LC Obligations”), and agrees to pay any
and all expenses (including reasonable counsel fees and expenses in accordance with Section 8.04 hereof) incurred by the LC Issuer in enforcing any rights hereunder with respect to the Subsidiary LC Obligations. Without limiting the generality
of the foregoing, the Company’s liability shall extend to all amounts which constitute part of the Subsidiary LC Obligations and would be owed by any LC Subsidiary to the LC Issuer hereunder, or under the Letters of Credit issued for the
account of an LC Subsidiary, but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such LC Subsidiary. 

(c) Guaranty Absolute. The Company guarantees that the Subsidiary LC Obligations will be paid strictly in
accordance with the terms hereof regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the LC Issuer with respect thereto. The obligations of the Company hereunder are
independent of the Subsidiary LC Obligations and a separate action or actions may be brought and prosecuted against the Company to enforce the guaranty contained in this Section 2.12, irrespective of whether any action is brought against any LC
Subsidiary or whether any LC Subsidiary is joined in any such action or actions. The liability of the Company under the guaranty contained in this Section 2.12 shall be absolute and unconditional irrespective of: 

(a) any lack of validity or enforceability of any of the Subsidiary LC Obligations or any agreement or instrument
relating thereto against any LC Subsidiary or any other Person; 
  

 20 

 (b) any change in the time, manner or place of payment of, or in any other
term of, all or any of the Subsidiary LC Obligations, or any other amendment or waiver of or any consent to departure herefrom with respect to Letters of Credit issued for the account of an LC Subsidiary including, without limitation, any increase
in the Subsidiary LC Obligations resulting from the Issuance of Letters of Credit beyond the aggregate limitation specified in Section 2.01 hereof to any and all LC Subsidiaries or otherwise; 

(c) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver
of or consent to departure from any other guaranty, for all or any of the Subsidiary LC Obligations; 

(d) any manner of application of collateral, or proceeds thereof, to all or any of the Subsidiary LC Obligations, or
any manner of sale or other disposition of any collateral for all or any of the Subsidiary LC Obligations or any other assets of an LC Subsidiary; 

(e) any change, restructuring or termination of the corporate structure or existence of an LC Subsidiary or any LC
Subsidiary’s lack of corporate power or authority; or 
 (f) any other circumstance which might
otherwise constitute a defense available to, or a discharge of, a third party guarantor. 
 The guaranty provided in this Section 2.12
shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Subsidiary LC Obligations is rescinded or must otherwise be returned by the LC Issuer upon the insolvency, bankruptcy or reorganization of
an LC Subsidiary or otherwise, all as though such payment had not been made. 
 (d) Waivers. The Company
hereby waives, to the extent permitted by applicable law: 
 (a) any requirement that the LC Issuer secure or
insure any security interest or lien or any property subject thereto or exhaust any right or take any action against any LC Subsidiary or any other Person or any collateral; 

(b) any defense arising by reason of any claim or defense based upon an election of remedies by the LC Issuer
(including, without limitation, an election to nonjudicially foreclose on any real or personal property collateral) which in any manner impairs, reduces, releases or otherwise adversely affects its subrogation, reimbursement or contribution rights
or other rights to proceed against any LC Subsidiary or any other Person or any collateral; 
  

 21 

 (c) any defense arising by reason of the failure of any LC Subsidiary to
properly execute any letter of credit application and agreement or otherwise comply with applicable legal formalities; 

(d) any defense or benefits that may be derived from California Civil Code §§ 2808, 2809, 2810, 2819, 2845 or
2850, or California Code of Civil Procedure §§ 580a, 580d or 726, or comparable provisions of the laws of any other jurisdiction and all other suretyship defenses it would otherwise have under the laws of California or any other
jurisdiction; 
 (e) any duty on the part of the LC Issuer to disclose to the Company any matter, fact or
thing relating to the business, operation or condition of any LC Subsidiary and its respective assets now known or hereafter known by the LC Issuer; 

(f) all benefits of any statute of limitations affecting the Company’s liability under or the enforcement of the
guaranty provided in this Section 2.12 or any of the Subsidiary LC Obligations or any collateral; 

(g) all setoffs and counterclaims; 

(h) promptness, diligence, presentment, demand for performance and protest; 

(i) notice of nonperformance, default, acceleration, protest or dishonor; 

(j) except for any notice otherwise required by applicable laws that may not be effectively waived by the Company,
notice of sale or other disposition of any collateral; and 
 (k) notice of acceptance of the guaranty
provided in this Section 2.12 and of the existence, creation or incurring of new or additional Subsidiary LC Obligations. 

SECTION 2.13 Dollar Payment Obligation. Notwithstanding any other term or provision hereof to the contrary, if the Company or any
LC Subsidiary fails to reimburse the LC Issuer for any payment made by the LC Issuer under a Letter of Credit denominated in an Alternative Currency by the close of business on the Business Day when due at the Payment Office specified for such
reimbursement payment, then the payment made by the LC Issuer in such Alternative Currency shall be converted into Dollars (the “Dollar Payment Amount”) by the LC Issuer as provided for herein, and each of the Company and each LC
Subsidiary for whose account such Letter of Credit was Issued agrees that it shall be unconditionally obligated to, and shall immediately, reimburse the LC Issuer the Dollar Payment Amount at the LC Issuer’s then Payment Office for Dollars.

 SECTION 2.14 Applications; Survival of Provisions. This Agreement shall control over any provision of any application
and agreement for Letters of Credit to the contrary, but additive or supplemental provisions of any such application and agreement shall apply to 

 

 22 

 
each Letter of Credit Issued pursuant to such application and agreement. The provisions in this Article shall survive the Termination Date in respect of all Letters of Credit outstanding
thereafter. 
 SECTION 2.15 Letters of Credit Outstanding on Termination Date. On the Termination Date, the Company or
the LC Subsidiaries, as the case may be, in respect of all Letters of Credit then issued and outstanding shall either: 

(a) Deposit into the LC Collateral Account held by the LC Issuer cash (in Dollars) in an amount equal to the undrawn
amount of such Letters of Credit on such date as security for the reimbursement of drawings thereunder which shall be used to reimburse the LC Issuer promptly upon a drawing under any such Letter of Credit, with the respective portion thereof to be
returned to the Company when the respective Letter of Credit expires or is returned to the LC Issuer, and in connection therewith the Company shall execute all documents reasonably required by the LC Issuer; or 

(b) Elect that such Letters of Credit be deemed issued pursuant to the terms of the Revolving Credit Agreement or any
other agreement under which letters of credit may be issued and the LC Issuer is an issuing bank (in each case to the extent permitted by the terms of such agreement), following which election such Letters of Credit shall be deemed terminated
according to the provisions of this Agreement and issued pursuant to the terms of the Revolving Credit Agreement or such other letter of credit agreement, as the case may be; provided, that in each case sufficient availability exists at such time
under the terms of the Revolving Credit Agreement or such other letter of credit agreement, as the case may be, to permit the relevant Letters of Credit to be deemed issued thereunder. 

SECTION 2.16 LC Subsidiaries. Any Subsidiary of the Company not an LC Subsidiary on the date hereof may become an “LC
Subsidiary” hereunder by delivering to the LC Issuer appropriate authorizations in respect of it entering into this Agreement, a letter of credit agreement supplement in substantially the form of Exhibit D hereto (each a “Letter of
Credit Agreement Supplement”), wherein such Subsidiary agrees to be bound by all terms and provisions of this Agreement relating to Letters of Credit to be issued for the account of such Subsidiary and delivers a written consent of the
Company assenting to the inclusion of such Subsidiary as an “LC Subsidiary” hereunder, provided, that, no Subsidiary shall become an “LC Subsidiary” until the LC Issuer shall have notified the Company in writing
that such Letter of Credit Agreement Supplement and consent are in form and substance satisfactory to the LC Issuer. 

ARTICLE III 

PAYMENTS, TAXES, ETC. 

SECTION 3.01 Payments and Computations. (a) Except as otherwise provided in Section 3.02 hereof, the Company and each LC
Subsidiary, as the case may be, shall make each payment with respect to the Letters of Credit and the LC Issuer free and clear of all claims, charges, offsets or deductions whatsoever not later than (i) if such payment relates to

  

 23 

 
letter of credit facility fees or amounts (other than reimbursements for payments in an Alternative Currency made under Letters of Credit) or if such payment relates to a Letter of Credit
denominated in Dollars, 1:00 P.M. (New York City time) on the day when due in Dollars to the LC Issuer at its address referred to in Section 8.02 hereof in same day funds and (ii) if such payment relates to reimbursement of a Letter of
Credit denominated in an Alternative Currency, (A) in such Alternative Currency, at the LC Issuer’s Payment Office therefor so long as such payment is made by the close of business on the Business Day when due and (B) thereafter in
Dollars (at the then Dollar equivalent of the amount due on such preceding Business Day), by 1:00 P.M. (New York City time) to the LC Issuer at its address referred to in Section 8.02 hereof in same day funds as provided in Section 2.13
above. 
 (b) The Company and each LC Subsidiary hereby authorize the LC Issuer, if and to the extent payment
owed to the LC Issuer is not paid when due hereunder to charge from time to time against any or all of the Company’s or such LC Subsidiary’s accounts with the LC Issuer any amount so due (it being understood and agreed that,
notwithstanding anything in this Agreement or any of the other LC Facility Documents to the contrary, accounts, deposits, sums, securities or other property of any Foreign Subsidiary or of any Subsidiary of a Foreign Subsidiary (including any
Foreign Subsidiary or any Subsidiary of a Foreign Subsidiary that is an LC Subsidiary) will not serve at any time, directly or indirectly, to collateralize or otherwise offset the Obligations of the Company or any Domestic Subsidiary, and, in
addition, unless otherwise agreed to by the Company, the accounts, deposits, sums, securities or other property of a Foreign Subsidiary or Subsidiary of a Foreign Subsidiary will only serve to collateralize or offset the Obligations of another
Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is an LC Subsidiary if such former Foreign Subsidiary or Subsidiary of a Foreign Subsidiary is owned by such latter Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is an LC
Subsidiary). 
 (c) All computations of interest based on the Base Rate and of letter of credit facility fees
shall be made by the LC Issuer on the basis of a year of 365 or 366 days, as the case may be, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or letter
of credit facility fees are payable. Each determination by the LC Issuer of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 

(d) Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be
made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or letter of credit facility fee, as the case may be. 

SECTION 3.02 Taxes. (a) Any and all payments by the Company and each LC Subsidiary hereunder shall be made free and clear of
and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding taxes imposed on the overall net income of the LC Issuer, and franchise
taxes imposed on the LC Issuer, by the jurisdiction under the laws of which the LC Issuer is organized or any political subdivision thereof and taxes imposed on the overall net income of the LC Issuer, and franchise taxes imposed on the LC Issuer,
by the jurisdiction of the 
  

 24 

 
LC Issuer’s Applicable Issuing Office or any political subdivision thereof (all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter
referred to as “Taxes”). If the Company or any LC Subsidiary shall be required by applicable Requirements of Law to deduct any Taxes from or in respect of any sum payable under any LC Facility Document to the LC Issuer, (i) the
sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 3.02) the LC Issuer receives an amount equal to the sum it would have
received had no such deductions been made, (ii) the Company or such LC Subsidiary shall make such deductions, (iii) the Company or respective LC Subsidiary shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable Requirements of Law and (iv) as soon as practicable after the date of any payment of Taxes, the Company or respective LC Subsidiary shall furnish to the LC Issuer, at its address referred to on the
signature page hereto, the original or a certified copy of a receipt evidencing payment thereof, to the extent such a receipt is issued therefore, or other evidence of payment thereof that is reasonably satisfactory to the LC Issuer. 

(b) In addition, the Company agrees to pay any present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, performance under or otherwise with respect to, this Agreement or the Letters of Credit (hereinafter referred
to as “Other Taxes”). 
 (c) The Company or the respective LC Subsidiary will indemnify the LC
Issuer for the full amount of Taxes and Other Taxes (including, without limitation, any Taxes of any kind imposed or asserted by any jurisdiction on amounts payable under this Section 3.02) imposed on or paid by the LC Issuer and any liability
(including penalties, additions to tax, interest and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted. A reimbursement shall be made within 30 days from the date the LC
Issuer makes written demand therefor. The LC Issuer shall give prompt (within 10 Business Days) notice to the Company of the payment by the LC Issuer of such amounts payable by the Company under the indemnity set forth in this subsection (c), and of
the assertion by any governmental or taxing authority that such amounts are due and payable, but the failure to give such notice shall not affect the Company’s or any LC Subsidiary’s obligations hereunder to reimburse the LC Issuer for
such Taxes or Other Taxes or Taxes imposed or asserted on amounts payable under this Section 3.02, except that neither the Company nor any LC Subsidiary shall be liable for penalties or interest accrued or incurred from the commencement of such
10 Business Day period until 10 Business Days after it receives the notice contemplated above, after which time it shall be liable for interest and penalties accrued or incurred prior to such 10 Business Day period and accrued or incurred beginning
10 Business Days after such receipt. Neither the Company nor any LC Subsidiary shall be liable for any penalties, interest, expense or other liability with respect to such Taxes or Other Taxes after it has reimbursed the amount thereof to the LC
Issuer. 
 (d) If the LC Issuer is organized under the laws of a jurisdiction outside the United States, on or
prior to the date of its execution and delivery of this Agreement and from time to time thereafter if requested in writing by the Company (but only so long as 

 

 25 

 
the LC Issuer remains lawfully able to do so), it shall provide the Company with Internal Revenue Service form W-8BEN or W-8ECI, as appropriate, or any successor form prescribed by the Internal
Revenue Service, certifying that the LC Issuer is entitled to benefits under an income tax treaty to which the United States is a party which reduces the rate of withholding tax on payments of interest payable by the Company or certifying that the
interest is effectively connected with the conduct of a trade or business in the United States. Similarly, with respect to each LC Subsidiary organized under the laws of a jurisdiction outside the United States, the LC Issuer, on or prior to the
date of its execution and delivery of this Agreement and from time to time thereafter if requested in writing by the Company or such LC Subsidiary (but only so long as the LC Issuer remains lawfully able to do so), shall provide the Company or such
LC Subsidiary with appropriate documentation certifying applicable exemptions from withholding tax imposed by any jurisdiction on payments of interest payable by such LC Subsidiary. If the forms provided by the LC Issuer at the time the LC Issuer
first becomes a party to this Agreement indicate a withholding tax (including, without limitation, United States interest withholding) tax rate in excess of zero, withholding tax at such rate shall be considered excluded from “Taxes”
unless and until the LC Issuer provides the appropriate forms certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for periods governed by such forms; provided
however, that, if at the date of any assignment pursuant to Section 8.07 hereof, the LC Issuer assignor was entitled to payments under subsection (a) of this Section 3.02 in respect of withholding tax with respect to interest
paid at such date, then, to such extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includible in Taxes) withholding tax, if any, applicable with respect to the
assignee on such date. 
 (e) For any period with respect to which the LC Issuer has failed to provide the
Company or any LC Subsidiary with the appropriate form described in Section 3.02(d) hereof (other than if such failure is due to a change in law occurring subsequent to the date on which a form originally was required to be
provided, or if such form otherwise is not required under the first two sentences of subsection (d) above), the LC Issuer shall not be entitled to indemnification, and for purposes of clarification, neither the Company nor any LC Subsidiary
shall be required to increase any amounts payable to the LC Issuer under Sections 3.02(a) or 3.02(c) hereof with respect to Taxes or Other Taxes imposed by any jurisdiction (including, without limitation, the United States); provided,
however, that should the LC Issuer become subject to Taxes or Other Taxes because of its failure to deliver a form required hereunder, the Company shall take such steps as the LC Issuer shall reasonably request to assist the LC Issuer to
recover such Taxes or Other Taxes. 
 (f) Without affecting its rights under this Section 3.02 or any
provision of this Agreement, the LC Issuer agrees that if any Taxes or Other Taxes are imposed and required by law to be paid or to be withheld from any amount payable to the LC Issuer or its Applicable Issuing Office with respect to which the
Company or any LC Subsidiary would be obligated pursuant to this Section 3.02 to increase any amounts payable to the LC Issuer or to pay any such Taxes or Other Taxes, the LC Issuer shall use reasonable efforts to select an alternative
Applicable Issuing Office which would not result in the imposition of such Taxes or Other Taxes; provided, however, that no LC Issuer shall be 

 

 26 

 
obligated to select an alternative Applicable Issuing Office if the LC Issuer determines that as a result of such selection the LC Issuer would be in violation of an applicable law, regulation,
or treaty, or would incur unreasonable additional costs or expenses. 
 (g) In the event that an additional
payment is made under this Section 3.02 for the account of the LC Issuer and the LC Issuer, in its sole discretion, determines that it has finally and irrevocably received or been granted a credit against or release or remission for, or
repayment of, any tax paid or payable by it in respect of or calculated with reference to the deduction or withholding giving rise to such payment, the LC Issuer shall, to the extent that it determines that it can do so without prejudice to the
retention of the amount of such credit, relief, remission or repayment, pay to the Company or LC Subsidiary, as the case may be, such amount as the LC Issuer shall, in its sole discretion, have determined to be attributable to such deduction or
withholding and which will leave the LC Issuer (after such payment) in no worse position than it would have been in if the Company or LC Subsidiary had not been required to make such deduction or withholding. Nothing herein contained shall interfere
with the right of the LC Issuer to arrange its tax affairs in whatever manner it thinks fit nor oblige the LC Issuer to claim any tax credit or to disclose any information relating to its tax affairs or any computations in respect thereof or require
the LC Issuer to do anything that would prejudice its ability to benefit from any other credits, reliefs, remissions or repayments to which it may be entitled. 

(h) The LC Issuer agrees with the Company that it will take all reasonable actions by all usual means (i) to secure
and maintain the benefit of all benefits available to it under the provisions of any applicable double tax treaty concluded by the United States of America to which it may be entitled by reason of the location of the LC Issuer’s Applicable
Issuing Office or place of incorporation or its status as an enterprise of any jurisdiction having any such applicable double tax treaty, if such benefit would reduce the amount payable by the Company or any LC Subsidiary in accordance with this
Section 3.02 and (ii) otherwise to cooperate with the Company to minimize the amount payable by the Company or any LC Subsidiary pursuant to this Section 3.02; provided, however, that the LC Issuer shall not be obliged
to disclose to the Company or any LC Subsidiary any information regarding its tax affairs or tax computations nor to reorder its tax affairs or tax planning pursuant hereto. 

(i) Without prejudice to the survival of any other agreement of the Company or any LC Subsidiary hereunder, the agreements
and obligations of the Company and the LC Subsidiaries contained in this Section 3.02 shall survive the payment in full of the Obligations. 
  

 27 

 ARTICLE IV 

CONDITIONS OF ISSUANCE 

SECTION 4.01 Conditions Precedent to Effectiveness of this Agreement. This Agreement shall become effective on and as of the first
date (the “Effective Date”) on which the following conditions precedent have been satisfied: 

(a) All governmental and third party consents and approvals necessary in connection with the transactions
contemplated hereby shall have been obtained (without the imposition of any conditions that are not acceptable to the LC Issuer) and shall remain in effect, and no law or regulation shall be applicable in the reasonable judgment of the LC Issuer
that restrains, prevents or imposes materially adverse conditions upon the transactions contemplated hereby. 

(b) The LC Issuer shall have received the following in form and substance satisfactory to the LC Issuer: 

(a) Certified copies of the resolutions of the board of directors (or persons performing similar functions) of the Company
approving the Agreement and each of the LC Facility Documents to which it is or is to be a party, and of all documents evidencing other necessary Governmental Authorizations, or other necessary consents, approvals, authorizations, notices, filings
or actions, with respect to this Agreement and any of the LC Facility Documents to which it is or is to be a party. 

(b) A copy of a certificate of the Secretary of State (or equivalent Governmental Authority) of the jurisdiction of
organization of each domestic Account Party listing the certificate or articles of incorporation (or similar Constitutive Document) of each such Account Party and each amendment thereto on file in the office of such Secretary of State (or such
governmental authority) and certifying (A) that such amendments are the only amendments to such Person’s certificate or articles of incorporation (or similar constitutive document) on file in its office, (B) if customarily available
in such jurisdiction, that such Person has paid all franchise taxes (or the equivalent thereof) to the date of such certificate and (C) that such Person is duly organized and is in good standing under the laws of the jurisdiction of its
organization. 
 (c) A certificate of the Secretary or an Assistant Secretary of each domestic Account Party
certifying the names and true signatures of the officers of such Account Party authorized to sign each LC Facility Document to which it is a party and the other documents to be delivered hereunder. 

(d) A favorable opinion of General Counsel or Associate General Counsel to the Account Parties, substantially in the form
of Exhibit A-1 hereto and as to such other matters as the LC Issuer may reasonably request. 
 (e) A favorable
opinion of Orrick, Herrington & Sutcliffe LLP, special New York counsel to the Account Parties, in substantially the form of Exhibit A-2 hereto and as to such other matters as the LC Issuer may reasonably request. 

(f) Such other approvals, opinions or documents as the LC Issuer may reasonably request. 

(g) Evidence that the 364-Day Agreement and each of the Other LC Facilities has been entered into and all conditions
precedent to the effectiveness of the 364-Day Agreement and each of the Other LC Facilities (except the entry into and effectiveness of this Agreement) have been satisfied or waived. 

 

 28 

 (h) Evidence that the security interests granted to each of Bank of America,
N.A., HSBC Bank, National Association and JPMorgan Chase Bank in respect of those certain letter of credit agreements between each of such parties and the Company and dated as of June 25, 2003 have been terminated and all liens thereunder have
been released. 
 (c) The Company shall have paid all accrued fees and expenses of the LC Issuer in connection
with this Agreement. 
 (d) All amounts owing by the Company or any of its Subsidiaries to the lenders and
agents under the Existing Letter of Credit Agreement shall have been, paid in full, and all commitments of the lenders under the Existing Letter of Credit Agreement (except for the letters of credit issued thereunder which are to be deemed issued
under this Agreement or the 364-Day Agreement) shall have been, or concurrently with the initial extension of credit made on the Effective Date shall be, terminated in accordance with the terms of the Existing Letter of Credit Agreement and all
guarantees given, and security interests granted, in connection therewith shall have been terminated. 
 SECTION 4.02
Conditions Precedent to Each Issuance. The obligation of the LC Issuer to Issue each Letter of Credit (including the initial Letter of Credit) shall be subject to the further conditions precedent that on the date of such Issuance the
following statements shall be true (and each request for Issuance by the Company or an LC Subsidiary shall constitute a representation and warranty by the Company or such LC Subsidiary that on the date of such Issuance such statements are true):

 (a) The representations and warranties contained in Section 5.01 hereof (except the representations
and warranties contained in Sections 5.01(f) and 5.01(g) hereof) are true and correct in all material respects on and as of the date of such Issuance, before and after giving effect to such Issuance, and to the application of the proceeds therefrom,
as though made on and as of such date, except to the extent that any such representation or warranty is stated to relate to an earlier date, in which case such representation or warranty shall be true and correct in all material respects on and as
of such earlier date; 
 (b) No event has occurred and is continuing, or would result from such Issuance or
from the application of the proceeds therefrom or from such Issuance, which constitutes an Event of Default or Default; and 

(c) The Issuance of such Letter of Credit will be in compliance with the criteria set forth in Section 2.01(a)
and (b) and Section 2.10(b) hereof, as the case may be. 
  

 29 

 ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

SECTION 5.01 Representations and Warranties of the Company. The Company represents and warrants as follows: 

(a) The Company is a corporation duly organized, validly existing and in good standing under the laws of Delaware;
each LC Subsidiary is duly organized or formed, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization. The Company and each of its Subsidiaries possess all powers (corporate or otherwise) and all
other authorizations and licenses necessary to engage in their respective businesses, except where the failure to so possess would not have a Material Adverse Effect. 

(b) The execution, delivery and performance by each Account Party of the LC Facility Documents to which it is a party and
the consummation of the transactions contemplated thereby are within such Account Party’s respective powers (corporate or otherwise), have been duly authorized by all necessary action (corporate or otherwise), and do not (i) contravene
such Account Party’s Constitutive Documents, (ii) violate any Requirements of Law, (iii) conflict with or result in the breach of, or constitute a default or require any payment to be made under, any material contract, loan agreement,
indenture, mortgage, deed of trust, lease or other material instrument binding on or affecting any Account Party or any of its properties or (iv) except for the Liens created under the LC Facility Documents, result in or require the creation or
imposition of any Lien upon or with respect to any of the properties of any Account Party. No Account Party is in violation of any such Requirements of Law or in breach of any such contract, loan agreement, indenture, mortgage, deed of trust, lease
or other instrument, the violation or breach of which would be reasonably likely to have a Material Adverse Effect. 

(c) No authorization or approval or other action by, and no notice to or filing with, any governmental authority or
regulatory body is required for the due execution, delivery and performance by any Account Party of the LC Facility Documents to which it is a party. 

(d) Each LC Facility Document is the legal, valid and binding obligation of the Account Party thereto enforceable against
such Account Party in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity
(regardless of whether considered in a proceeding in equity or at law). 
 (e) The Consolidated balance sheets of
the Company and its Subsidiaries as of January 29, 2005, and the related Consolidated statements of income and retained earnings of the Company and its Subsidiaries for the Fiscal Year then ended, certified by Deloitte & Touche LLP or
other independent public accountants reasonably acceptable to 
  

 30 

 
the LC Issuer, copies of which have been furnished to the LC Issuer, when taken as a whole fairly present the Consolidated financial condition of the Company and its Subsidiaries as at such date
and the results of the operations of the Company and its Subsidiaries for the period ended on such date, all in accordance with GAAP. 

(f) Since January 29, 2005, there has been no Material Adverse Change. 

(g) There is no pending or, to the Company’s knowledge, threatened action or proceeding affecting the Company or any
of its Subsidiaries before any court, governmental agency or arbitrator, (i) which is reasonably likely to be adversely determined and if adversely determined would have a Material Adverse Effect or (ii) which purports to affect the
legality, validity or enforceability of any LC Facility Document. 
 (h) The Company is not engaged in the
business of extending credit for the purpose of purchasing or carrying Margin Stock. 
 (i) Neither the Company
nor any of its Subsidiaries is an “investment company,” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company,” as such terms are defined in the
Investment Company Act of 1940, as amended. 
 (j) Set forth on Schedule IV hereto is a complete and accurate
list, as of the date hereof, of all Plans of the Company and its Subsidiaries. Neither the Company nor any ERISA Affiliate is a party or subject to, or has any obligation to make payments, or incur any material Withdrawal Liability, to, any
Multiemployer Plan. 
 (k) Except as provided in Schedule V, no ERISA Event has occurred with respect to any Plan
that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur would reasonably be likely to result in a Material Adverse Effect. 

(l) Except as provided in Schedule V, Schedule B (Actuarial Information) to the most recently completed annual report
(Form 5500 Series) for each Plan of the Company or its Subsidiaries, copies of which have been or will be filed with the Internal Revenue Service, is complete and accurate in all material respects and fairly presents the funding status of such Plan,
and since the date of such Schedule B there has been no material adverse change in such funding status which would reasonably be likely to result in a Material Adverse Effect. 

(m) Except as provided in Schedule V, neither the Company nor any ERISA Affiliate has been notified by the sponsor of a
Multiemployer Plan that such Multiemployer Plan is in reorganization or has been terminated, within the meaning of Title IV of ERISA and no Multiemployer Plan is reasonably expected to be in reorganization or to be terminated, within the meaning of
Title IV of ERISA. 
 (n) Each of the Company and its Subsidiaries is in compliance with all Requirements of Law
(including, without limitation, all applicable Environmental Laws) 
  

 31 

 
applicable to their respective properties, assets and business other than (i) where the failure to so comply would (as to all such failures to comply in the aggregate) not have a Material
Adverse Effect or (ii) as described on Schedule VI. 
 (o) As of the Effective Date, no information, exhibit
or report furnished by any Account Party to the LC Issuer in connection with the negotiation of the LC Facility Documents or pursuant to the terms of the LC Facility Documents contained any untrue statement of a material fact or omitted to state a
material fact necessary to make the statements made therein not misleading; provided that all financial projections, if any, that have been or will be prepared by the Company and made available to the LC Issuer have been or will be prepared in good
faith based upon reasonable assumptions, it being understood by the LC Issuer and all the other parties hereto that such projections are subject to significant uncertainties and contingencies, many of which are beyond the Company’s control, and
that no assurances can be given that the projections will be realized. 
 ARTICLE VI 

COVENANTS OF THE COMPANY 

SECTION 6.01 Affirmative Covenants. The Company will, unless the LC Issuer shall otherwise consent in writing: 

(a) Preservation of Existence, Etc. Preserve and maintain, and cause each of its Subsidiaries to preserve and
maintain, its existence (corporate or otherwise), rights (charter and statutory), and franchises except if, in the reasonable business judgment of the Company or such LC Subsidiary, as the case may be, it is in its best economic interest not to
preserve and maintain such rights or franchises and such failure to preserve and maintain such rights or franchises would not materially adversely affect the rights of the LC Issuer hereunder or the ability of the Company or any of the LC
Subsidiaries to perform its obligations under the respective LC Facility Documents (it being understood that the foregoing shall not prohibit, or be violated as a result of, any transactions by or involving the Company or any of the LC Subsidiaries
otherwise permitted under Section 6.02). 
 (b) Compliance with Laws, Etc. Comply, and cause each of
its Subsidiaries to comply, in all material respects with all applicable laws (including, without limitation, ERISA and all Environmental Laws), rules, regulations and orders, such compliance to include, without limitation, paying before the same
become delinquent all taxes, assessments and governmental charges imposed upon it or upon its property except to the extent contested in good faith or where the failure to comply would not have a Material Adverse Effect. 

(c) Visitation Rights. Permit, and cause each of the LC Subsidiaries to permit, the LC Issuer, or any agents or
representatives thereof, from time to time, during normal business hours, and upon reasonable prior notice, to examine and make copies of and abstracts from its records and books of account, to visit its properties, and to discuss the affairs,
finances and accounts of the Company and the LC Subsidiaries with any of their respective directors, officers or agents. 
  

 32 

 (d) Maintenance of Books and Records. Keep, and cause each of the LC
Subsidiaries to keep, proper books of record and account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each of the LC Subsidiaries in accordance with sound business
practice. 
 (e) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its Subsidiaries
to maintain and preserve, all of its properties which are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted, consistent with sound business practice, except where the failure to so
maintain and preserve would not have a Material Adverse Effect. 
 (f) Maintenance of Insurance. Maintain,
and cause each of the LC Subsidiaries to maintain, insurance (other than earthquake or terrorism insurance) in amounts, from responsible and reputable insurance companies or associations, with limitations, of types and on terms as is customary for
the industry; provided, that, the Company and each of the LC Subsidiaries may self-insure risks and liabilities in accordance with its practice as of the date hereof and may in addition self-insure risks and liabilities in amounts as
are customarily self-insured by similarly situated Persons in the industry. 
 (g) Use of Proceeds. Use
the issuances of Trade Letters of Credit solely for general corporate purposes of the Company and the LC Subsidiaries. 

(h) Post-Closing Actions. Within 90 days following the Effective Date, deliver certified copies of the resolutions
of the board of directors (or persons performing similar functions) of each Account Party (other than the Company) approving the Agreement and each of the LC Facility Documents to which it is or is to be a party and ratifying the execution of each
of the LC Facility Documents, together with legal opinions delivered by legal counsel to each such Account Party, in form and substance satisfactory to the LC Issuer. 

SECTION 6.02 Negative Covenants. The Company will not, without the written consent of the LC Issuer: 

(a) Liens, Etc. Create or suffer to exist, or permit any of its Subsidiaries to create or suffer to exist, any Lien
(including an assignment of any right to receive income), other than: 
 (a) Permitted Liens; 

(b) Liens securing Debt in an aggregate outstanding principal amount, or securing exposure under Hedge Agreements,
when aggregated (without duplication) with the outstanding principal amount of all Debt incurred under Section 6.02(b)(viii), not in excess at any time of 7.5% of the Consolidated Tangible Net Worth at the end of the immediately preceding
Fiscal Quarter; 
  

 33 

 (c) Liens upon or in any real property, equipment, fixed asset or capital
asset acquired, constructed, improved or held by the Company or any Subsidiary in the ordinary course of business to secure the cost of acquiring, constructing or improving such property, equipment or asset or to secure Debt incurred solely for the
purpose of financing the acquisition of such property, equipment or asset, or Liens existing on such property, equipment or asset at the time of its acquisition (other than any such Liens created in contemplation of such acquisition, construction or
improvement that were not incurred to finance the acquisition, construction or improvement of such property, equipment or asset) or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided,
however, that no such Lien shall extend to or cover any properties of any character other than the real property, equipment or asset being acquired, constructed or improved, and no such extension, renewal or replacement shall extend to or
cover any properties not theretofore subject to the Lien being extended, renewed or replaced; 
 (d) Liens
upon existing real property interests of the Company or any of its Subsidiaries to secure Debt in an aggregate principal amount not in excess of $600,000,000; and 

(e) Liens existing on property prior to the acquisition thereof by the Company or any of its Subsidiaries in the
ordinary course of business or on property of a Person existing at the time such Person is merged into or consolidated with the Company or any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Liens were not
created in contemplation of such merger, consolidation or acquisition and do not extend to any other assets of the Company or such Subsidiary, and the replacement, extension or renewal of any such Lien upon or in the same property subject thereto or
the replacement, extension or renewal (without increase in the amount, shortening the maturity or change in any direct or contingent obligor if such change would be adverse to the Company) of the Debt permitted hereunder secured thereby. 

(b) Subsidiary Debt. Permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Debt, except:

 (a) Debt under (A) this Agreement, (B) the 364-Day Agreement, (C) the Other LC Facilities, and
(D) the Revolving Credit Agreement; 
 (b) Debt incurred after the date of this Agreement and secured
by Liens expressly permitted under Section 6.02(a)(iii) hereof in an aggregate principal amount not to exceed, when aggregated with the principal amount of all Debt incurred under clause (iii) of this Section 6.02(b), $100,000,000 at
any time outstanding; 
 (c) Capital Leases incurred after the date of this Agreement which, when the
principal amount thereof is aggregated with the principal amount of all Debt incurred under clause (ii) of this Section 6.02(b), do not exceed $100,000,000 at any time outstanding; 

 

 34 

 (d) Debt referred to in Section 6.02(a)(iv) in a principal amount not
in excess of the amount referred to therein; 
 (e) Debt existing on the Effective Date and described on
Schedule VII (“Existing Debt”), and any Debt extending the maturity of, or refunding, refinancing or replacing, in whole or in part, the Existing Debt; provided, that (A) the aggregate principal amount of such extended,
refunding, refinancing or replacement Debt shall not be increased above the principal amount of the Existing Debt and the premium, if any, thereon outstanding immediately prior to such extension, refunding, refinancing or replacement and
(B) the direct and contingent obligors of the Existing Debt shall not be changed as a result of or in connection with such extension, refunding, refinancing or replacement if such change would be adverse to the interests of the Company;

 (f) Debt owed to the Company or to any Subsidiary of the Company; 

(g) Debt not otherwise permitted under this Section 6.02(b) in an outstanding principal aggregate amount, when
aggregated (without duplication) with the outstanding principal amount of all Debt secured by Liens permitted under Section 6.02(a)(ii), not in excess at any time of 7.5% of the Consolidated Tangible Net Worth at the end of the immediately
preceding Fiscal Quarter; 
 (h) Obligations of a Subsidiary of the Company under direct or indirect
guaranties in respect of, or obligations (contingent or otherwise) to purchase or acquire, or otherwise to assure a creditor against loss in respect of, Debt of another Subsidiary of the Company permitted under clauses (i) through
(viii) of this Section 6.02(b); and 
 (i) Endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business. 
 (c) Investments. Make, or permit
any of its Subsidiaries to make, an investment in any Person that is not a Loan Party or a Subsidiary of a Loan Party by way of the purchase of such Person’s capital stock or securities or the making of capital contributions with respect
thereto (an “Investment”) unless, on the date of and after giving pro forma effect to such investment, the Company would be in compliance with the financial covenants set forth in Section 6.03. 

(d) Mergers, Etc. Merge or consolidate with or into any Person, or permit any of its Subsidiaries to do so, except
(i) any Subsidiary of the Company may merge or consolidate with or into the Company or any Subsidiary of the Company, (ii) the Company may merge with any other Person so long as the Company is the surviving corporation and (iii) in
connection with any transaction permitted by Section 6.02(c) or (e). 
  

 35 

 (e) Sale of Assets. Sell, lease, transfer or otherwise dispose of, or
permit any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, any assets, or grant any option or other right to purchase, lease or otherwise acquire any assets, in each case to any Person that is not a Loan Party or a Subsidiary
of a Loan Party, except (i) sales of inventory in the ordinary course of its business; (ii) the Company and its Subsidiaries may, directly or indirectly through the Company or one or more of its Subsidiaries, sell, lease, transfer or
otherwise dispose of any obsolete, damaged or worn-out property or any other property that is otherwise no longer useful in the conduct of their business; (iii) the Company and its Subsidiaries may sell real property interests as part of one or
more sale leaseback transactions provided that the value of such real property interests shall not be in excess of $600,000,000 less, without duplication, the amount of Debt incurred as contemplated by Section 6.02(a)(iv) hereof; (iv) the
Company and its Subsidiaries may sell cash equivalents and other similar instruments in which it has invested from time to time; and (v) the Company and its Subsidiaries may sell, lease, transfer or otherwise dispose of property and assets so
long as the aggregate fair market value of all such property and assets sold, leased, transferred or otherwise disposed of pursuant to this clause (v) from the Effective Date to the date of determination does not exceed 25% of the Consolidated
Total Assets. 
 (f) Change in Nature of Business. Make any material change in the nature of the business
of the Company and its Subsidiaries as conducted as of the date hereof. 
 SECTION 6.03 Financial Covenants. So long as
any Letter of Credit shall be outstanding or the LC Issuer shall have any Commitment hereunder, the Company will, unless it has the written consent of the LC Issuer to do otherwise: 

(a) Leverage Ratio. Maintain a Leverage Ratio as of the last day of each Fiscal Quarter, determined on the
basis of the most recently completed four consecutive Fiscal Quarters ending on such day, of not greater than 2.25:1.00. 

(b) Fixed Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio as of the last day of each Fiscal Quarter,
determined on the basis of the most recently completed four consecutive Fiscal Quarters ending on such day, of not less than 2.00:1.00. 

SECTION 6.04 Reporting Requirements. The Company will furnish to the LC Issuer: 

(a) As soon as available and in any event within 45 days after the end of each of the first three Fiscal Quarters,
Consolidated balance sheets of the Company and its Subsidiaries as of the end of such Fiscal Quarters and Consolidated statements of income and retained earnings of the Company and its Subsidiaries for the period commencing at the end of the
previous Fiscal Year and ending with the end of such Fiscal Quarter, certified by the chief financial officer or treasurer of the Company and accompanied by a certificate of said officer stating that such have been prepared in accordance with GAAP.

  

 36 

 (b) As soon as available and in any event within 90 days after the end of
each Fiscal Year, a copy of the annual report for such year for the Company and its Subsidiaries, containing Consolidated financial statements of the Company and its Subsidiaries for such Fiscal Year certified by Deloitte & Touche LLP or
other independent public accountants reasonably acceptable to the LC Issuer. 
 (c) Together with the financial
statements required by Sections 6.04(a) and (b), a compliance certificate, in substantially the form of Exhibit B hereto, signed by the chief financial officer or treasurer of the Company stating (i) whether or not he or she has knowledge of
the occurrence of any Event of Default or Default and, if so, stating in reasonable detail the facts with respect thereto and (ii) whether or not the Company is in compliance with the requirements set forth in Section 6.03 and showing the
computations used in determining such compliance or non-compliance. 
 (d) As soon as possible and in any event
within five days after a Responsible Officer becomes aware of each Event of Default and Default, a statement of a Responsible Officer of the Company setting forth details of such Event of Default or Default and the action which the Company has taken
and proposes to take with respect thereto. 
 (e) Promptly after the sending or filing thereof, copies of all
reports which the Company sends to any of its security holders, and copies of all reports and registration statements which the Company or any Subsidiary files with the Securities and Exchange Commission (the “SEC”) or any national
securities exchange. 
 (f) Promptly after the filing or receiving thereof, copies of all reports and notices
which the Company or any Subsidiary files under ERISA with the Internal Revenue Service or the Pension Benefit Guaranty Corporation or the U.S. Department of Labor or which the Company or any Subsidiary receives from such entities other than
immaterial regular periodic notices and reports and notices and reports of general circulation. 
 (g) Within 120
days after the end of each Fiscal Year, a summary, prepared by a Responsible Officer of the Company, of the Company’s (and its Subsidiaries’) major insurance coverages (and the amount of self-insurance) then in effect. 

(h) Such other information respecting the condition or operations, financial or otherwise, of the Company or any of its
Subsidiaries as the LC Issuer may from time to time reasonably request. 
 Notwithstanding the foregoing, the financial statements required to
be delivered by the Company pursuant to Sections 6.04(a) and (b) and the reports and statements required to be delivered by the Company pursuant to Section 6.04(e) shall be deemed to have been delivered (i) on the date on which the
Company posts reports containing such financial statements or other materials on the Company’s website on the internet at “www.gapinc.com” (or any successor page notified to the LC Issuer) or (ii) when such reports containing
such financial statements or other materials are posted on the SEC’s website on the internet at “www.sec.gov”. 
  

 37 

 ARTICLE VII 

EVENTS OF DEFAULT 

SECTION 7.01 Events of Default. If any of the following events (“Events of Default”) shall occur and be continuing:

 (a) Any Account Party shall fail to pay any reimbursement obligation under any Letter of Credit when the
same becomes due and payable; or shall fail to pay any interest payable with respect to any Letter of Credit, or any fees or any other amounts hereunder within five days after the same become due and payable by it; or 

(b) Any representation or warranty made by any Account Party in any LC Facility Document (whether made on behalf of
itself or otherwise) or by any Account Party (or any of its officers) in connection with any LC Facility Document shall prove to have been incorrect in any material respect when made; or 

(c) Any Account Party shall fail to perform or observe (i) any covenant or agreement contained in
Section 6.02 or 6.03 hereof; or (ii) such other term, covenant or agreement contained in any LC Facility Document on its part to be performed or observed if the failure to perform or observe such other term, covenant or agreement shall
remain unremedied for 30 days after written notice thereof shall have been given to such Account Party by the LC Issuer; or 

(d) The Company or any of its LC Subsidiaries shall fail to pay any principal of or premium or interest on any Debt
which is outstanding in a principal amount of at least $50,000,000 in the aggregate (but excluding Debt hereunder) of the Company or such LC Subsidiary when the same becomes due and payable (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or any such Debt shall be declared to be due and payable, or required to
be prepaid (other than by a regularly scheduled required prepayment), redeemed, purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case as a result of a default thereunder and
prior to the stated maturity thereof; or 
 (e) The Company or any of the Material LC Subsidiaries shall
generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the
Company or any of the Material LC Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law
relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property
and, in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or 

 

 38 

 
any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar
official for, it or for any substantial part of its property) shall occur; or the Company or any of the Material LC Subsidiaries shall take any corporate action to authorize any of the actions set forth above in this subsection (e); or 

(f) One or more judgments or orders for the payment of money in excess of $50,000,000 in the aggregate shall be
rendered against the Company or any of the LC Subsidiaries and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of forty-five (45) consecutive
days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not give rise to an Event of Default under
this Section 7.01(f) if and so long as (A) the amount of such judgment or order which remains unsatisfied is covered by a valid and binding policy of insurance between the respective Account Party and the insurer covering full payment of
such unsatisfied amount and (B) such insurer has been notified, and has not disputed the claim made for payment, of the amount of such judgment or order; or 

(g) A Change of Control shall have occurred; or 

(h) Any material provision of any of the LC Facility Documents after delivery thereof pursuant to Section 4.01
hereof shall for any reason (other than pursuant to the terms thereof) cease to be valid and binding on or enforceable against any of the Account Parties intended to be a party to it, or any such Account Party shall so state in writing; or

 (i) Any of the following events or conditions shall have occurred and such event or condition, when
aggregated with any and all other such events or conditions set forth in this subsection (j), has resulted or is reasonably expected to result in liabilities of the Account Parties and/or the ERISA Affiliates in an aggregate amount that would have a
Material Adverse Effect: 
 (a) any ERISA Event shall have occurred with respect to a Plan; or 

(b) any of the Account Parties or any of the ERISA Affiliates shall have been notified by the sponsor of a
Multiemployer Plan that it has incurred Withdrawal Liability to such Multiemployer Plan; or 
 (c) any of
the Account Parties or any of the ERISA Affiliates shall have been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization, is insolvent or is being terminated, within the meaning of Title IV of ERISA, and,
as a result of such reorganization, insolvency or termination, the aggregate annual contributions of the Account Parties and the ERISA Affiliates to all of the Multiemployer Plans that are in reorganization, are insolvent or being terminated at such
time have been or will be increased over the amounts contributed to such Multiemployer Plans for the plan years of such Multiemployer Plans immediately preceding the plan year in which such reorganization, insolvency or termination occurs; or

  

 39 

 (d) any “accumulated funding deficiency” (as defined in
Section 302 of ERISA and Section 412 of the Internal Revenue Code), whether or not waived, shall exist with respect to one or more of the Plans; or 

(e) or any Lien shall exist on the property and assets of any of the Account Parties or any of the ERISA Affiliates
in favor of the PBGC, 
 then, and in any such event, the LC Issuer may, by notice to the Company, (A) declare the
obligation of the LC Issuer to issue further Letters of Credit to be terminated, whereupon the same shall forthwith terminate, (B) declare amounts payable under this Agreement to be forthwith due and payable, whereupon all such amounts shall
become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by each Account Party and/or (C) demand from time to time that the Company, and if such demand
is made the Company shall, pay to the LC Issuer, an amount in immediately available funds equal to the then outstanding Letter of Credit Liability (plus the additional amounts specified by Section 2.11(c), if applicable) which shall be held by
the LC Issuer as cash collateral in the LC Collateral Account and applied to the reduction of such Letter of Credit Liability as drawings are made on outstanding Letters of Credit provided, however, that in the event of an actual or
deemed entry of an order for relief with respect to the Company or any of the LC Subsidiaries under the Federal Bankruptcy Code, the obligation of the LC Issuer to issue Letters of Credit shall automatically be terminated and all such amounts due
under this Agreement shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by each Account Party. 

ARTICLE VIII 

MISCELLANEOUS 

SECTION 8.01 Amendments, Etc. (a) No amendment or waiver of any provision of this Agreement or any other LC Facility
Document, nor consent to any departure by the Company or any LC Subsidiary therefrom, shall in any event be effective unless the same shall be in writing and signed by the LC Issuer, provided, however, that, except for amendments that
are contemplated to give effect to the terms hereof (including, without limitation, Section 2.09 hereof and any amendment required to give effect to any assignment permitted hereunder), no such amendment, waiver or consent in relation to any
material provision of this Agreement (including, without limitation, the Termination Date and any fees or other amounts payable hereunder) shall be effective unless the respective letter of credit issuing banks under each of the Other LC Facilities
shall also have given their prior written consent thereto. All waivers and consents granted under this Section 8.01 shall be effective only in the specific instance and for the specific purpose for which given. 

 

 40 

 (b) In the event of any amendment or modification to the terms of any
covenant set forth in the Revolving Credit 
 Agreement, the LC Issuer and the Account Parties agree that an
equivalent amendment or modification shall be deemed made in respect of the terms of the covenants set forth in this Agreement (with immediate effect upon the effectiveness of the amendment or modification under the Revolving Credit Agreement), so
that the terms of the covenants in this Agreement and the Revolving Credit Agreement shall, at all times, be the same; provided, that if the LC Issuer is not a “Lender” under the Revolving Credit Agreement, this Section 8.01(b) shall
be of no further force and effect. The LC Issuer shall provide the Company and the LC Subsidiaries with written notice of any such deemed amendment or modification as provided in Section 8.02, whereupon such deemed amendment or modification
shall become effective. 
 SECTION 8.02 Notices, Etc. All notices and other communications provided for hereunder shall
be in writing (including telecopier or electronic mail) and mailed, sent by overnight courier, telecopied, emailed, or delivered, if to the Company or any other Account Party, at its address at 2 Folsom Street, San Francisco, CA 94105, Attention:
Treasurer, Telecopier: 415-427-4015, email: sabrina_simmons@gap.com; with a copy to 2 Folsom Street, San Francisco, CA 94105, Attention: General Counsel, Telecopier: 415-427-6982, email: lauri_shanahan@gap.com; and to 2 Folsom Street, San Francisco,
CA 94105, Attention: Associate General Counsel, Telecopier: 415-427-7475, email: tom_lima@gap.com; if to the LC Issuer, at its address at
                                        ,
Attention:
                                        ,
Telecopier:
                                        
or, as to each party, at such other address or to such other person as shall be designated by such party in a written notice to the other parties. All such notices and communications shall, when mailed, be effective three days after being deposited
in the mails, when sent by overnight courier, be effective one day after being sent by overnight courier, and when telecopied or sent by electronic mail, be effective when received (and, with respect to notices and communications sent by electronic
mail, upon confirmation by the recipient of the receipt of such notice or communication), respectively; and when delivered by hand, be effective upon delivery except that notices and communications to the LC Issuer pursuant to Article II shall not
be effective until received by the LC Issuer. 
 SECTION 8.03 No Waiver; Remedies. No failure on the part of the LC
Issuer to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The
remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
 SECTION 8.04 Costs and
Expenses. 
 (a) The Company agrees to pay within 30 days after presentation of a statement of account all
reasonable costs and expenses of the LC Issuer incurred in connection with the preparation, execution, delivery, modification and amendment of this Agreement, and the other documents to be delivered hereunder, including, without limitation, the
reasonable fees and out-of-pocket expenses of one counsel (which shall be the same counsel, without duplication, for the Agent under the Revolving Credit Agreement) for the LC Issuer (and appropriate local counsel) with respect thereto and with
respect to advising the LC Issuer as to its rights and responsibilities under this Agreement. The 
  

 41 

 
Company further agrees to pay within 30 days after presentation of a statement of account all costs and expenses of the LC Issuer (including, without limitation, reasonable and documented fees
and expenses of counsel), incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of the LC Facility Documents, the Letters of Credit, and the other documents to be delivered hereunder and
thereunder. 
 (b) The Company agrees to indemnify and hold harmless the LC Issuer and its Affiliates and their
respective officers, directors, employees, agents and advisors (each, an “Indemnified Party”) from and against any and all claims (other than lost profits), damages, liabilities and expenses (including, without limitation,
reasonable and documented fees and disbursements of one counsel, absent a conflict of interest), which may be incurred by or asserted against any Indemnified Party in connection with or arising out of any investigation, litigation, or proceeding
(whether or not such Indemnified Party is party thereto) related to any acquisition or proposed acquisition by the Company, or by any Subsidiary of the Company, of all or any portion of the stock or substantially all the assets of any Person or any
use or proposed use of the Letters of Credit by any Account Party, except to the extent such claim, damage, liability or expense shall have resulted from such Indemnified Party’s gross negligence or willful misconduct. In the event this
indemnity is unenforceable as a matter of law as to a particular matter or consequence referred to herein, it shall be enforceable to the full extent permitted by law. The indemnification provisions set forth above shall be in addition to any
liability the Company may otherwise have. Without prejudice to the survival of any other obligation of the Company hereunder, the indemnities and obligations of the Company contained in this Section 8.04 shall survive the payment in full of all
the Obligations of the Account Parties. 
 SECTION 8.05 Right of Set-off. Upon the occurrence and during the continuance
of any Event of Default, the LC Issuer and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other indebtedness at any time owing by the LC Issuer or such Affiliate to or for the credit or the account of any Account Party against any and all of the obligations of such Account Party now or hereafter
existing under this Agreement to the LC Issuer, whether or not the LC Issuer shall have made any demand under this Agreement and although such obligations may be unmatured (it being understood and agreed that, notwithstanding anything in this
Agreement or any of the other LC Facility Documents to the contrary, accounts, deposits, sums, securities or other property of any Foreign Subsidiary or of any Subsidiary of a Foreign Subsidiary (including any Foreign Subsidiary or any Subsidiary of
a Foreign Subsidiary that is an LC Subsidiary) will not serve at any time, directly or indirectly, to collateralize or otherwise offset the Obligations of the Company or any Domestic Subsidiary, and, in addition, unless otherwise agreed to by the
Company, the accounts, deposits, sums, securities or other property of a Foreign Subsidiary or Subsidiary of a Foreign Subsidiary will only serve to collateralize or offset the Obligations of another Foreign Subsidiary or Subsidiary of a Foreign
Subsidiary that is an LC Subsidiary if such former Foreign Subsidiary or Subsidiary of a Foreign Subsidiary is owned by such latter Foreign Subsidiary or Subsidiary of a Foreign Subsidiary that is an LC Subsidiary). The LC Issuer agrees promptly to
notify the Company after any such set-off and application made by the 
  

 42 

 
LC Issuer or any of its Affiliates, provided, that, the failure to give such notice shall not affect the validity of such set-off and application. The rights of the LC Issuer and
its Affiliates under this Section 8.05 are in addition to other rights and remedies (including, without limitation, other rights of set-off) which the LC Issuer and its Affiliates may have. 

SECTION 8.06 Binding Effect. This Agreement shall become effective when it shall have been executed by the Company and each LC
Subsidiary to be a party hereto on the date hereof, and the LC Issuer and thereafter shall be binding upon and inure to the benefit of the Company, each LC Subsidiary, and the LC Issuer and their respective successors and assigns, except that the
Company and each LC Subsidiary shall not have the right to assign its respective rights hereunder or any interest herein without the prior written consent of the LC Issuer. 

SECTION 8.07 Assignments and Participations. (a) The LC Issuer may, and if demanded by the Company (following a demand by the
LC Issuer pursuant to Section 2.07 or 3.02 hereof, upon at least 10 days’ notice to the LC Issuer) will, assign to one or more banks or other entities all or a portion of its rights and obligations under this Agreement (including, without
limitation, all or a portion, respectively, of the Facility Amount); provided, however, that (i) the respective amounts of the rights and obligations in relation to the Facility Amount being assigned pursuant to each such
assignment (determined as of the date of such assignment with respect to such partial assignment) shall in no event be less than $50,000,000 (or an integral multiple of $25,000,000 in excess thereof), (ii) except during the continuance of a
Default, each such assignment shall be (a) to an Affiliate or (b) to an Eligible Assignee consented to by the Company (following reasonable advance written notice to the Company, which consent shall not, in the case of any assignment to
any “LC Issuer” party to the Other LC Facilities only, be unreasonably withheld), (iii) each such assignment made as a result of a demand by the Company pursuant to this Section 8.07(a) shall be arranged by the Company (at its
expense) after consultation with the LC Issuer and shall be either an assignment of all of the rights and obligations of the LC Issuer under this Agreement or an assignment of a portion of such rights and obligations made concurrently with another
such assignment or other such assignments which together cover all of the rights and obligations of the LC Issuer under this Agreement, (iv) the LC Issuer shall not be obligated to make any such assignment as a result of a demand by the Company
pursuant to this Section 8.07(a) unless and until the LC Issuer shall have received one or more payments from either the Company or one or more Eligible Assignees in an aggregate amount at least equal to all reimbursement amounts and other
amounts payable to the LC Issuer under this Agreement, and (v) such assignee and the LC Issuer shall enter into such agreement as they deem appropriate and (vi) such assignee, the Company and the LC Subsidiaries shall enter into a letter
of credit agreement and related documents substantially similar to the LC Facility Documents with respect to such assignment and the Facility Amount shall be reduced by the amount of such assignment (but not reduced to an amount less than the
aggregate amount of all Letter of Credit Liability). 
 (b) The LC Issuer may sell participations to one or more
banks or other entities in or to all or a portion of its rights and obligations under this Agreement (including, without limitation, all or a portion of its commitment with respect to the Facility Amount); provided, however, that
(i) the LC Issuer’s obligations under this Agreement (including, without limitation, its commitment with respect to the Facility Amount) shall 

 

 43 

 
remain unchanged, (ii) the LC Issuer shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Company and the LC Issuer shall
continue to deal solely and directly with the LC Issuer in connection with the LC Issuer’s rights and obligations under this Agreement, provided, further, that, to the extent of any such participation (unless otherwise stated
therein and subject to the preceding proviso), the purchaser of such participation shall, to the fullest extent permitted by law, have the same rights and benefits hereunder as it would have if it were the LC Issuer; and provided,
further, that each such participation shall be granted pursuant to an agreement providing that the purchaser thereof shall not have the right to consent or object to any action by the selling LC Issuer (who shall retain such right) other than
an action which would (i) reduce any amount due hereunder with respect to the Letters of Credit or other amounts or fees in which such purchaser has an interest, (ii) postpone any date fixed for payment of such amounts due with respect to
Letters of Credit or other amount or such fees, or (iii) extend the Termination Date. 
 (c) Upon written
request of the Company to the LC Issuer, the LC Issuer shall, to the extent consistent with the policies of the LC Issuer, inform the Company of the Dollar amount of any Full Term Participation (as hereinafter defined) that the LC Issuer has entered
into; provided, however, that the LC Issuer shall not be obligated to disclose such information if the disclosure thereof would constitute a violation of law or regulation or violate any confidentiality agreement to which the LC Issuer
is subject. For the purposes of this subsection (d), “Full Term Participation” means a participation by the LC Issuer to another Person whereby such other Person has purchased (pursuant to a participation agreement) all or a portion
of the LC Issuer’s commitment with respect to the Facility Amount from the effective date of such participation agreement to the Termination Date. 

(d) Notwithstanding anything herein contained to the contrary, the LC Issuer or any of its Affiliates may assign any of
its rights under this Agreement to any Federal Reserve Bank without notice to or consent of the Company. 
 (e)
If the LC Issuer requests any payment from the Company under Section 2.07 or 3.02 hereof, then, subject to Section 8.07(a) hereof and provided no Default or Event of Default shall have occurred and be continuing, the Company may request
the LC Issuer to (and, upon such request, the LC Issuer, without any obligation to pay any fees in respect thereof, shall) assign all of its rights and obligations under this Agreement to one or more Eligible Assignees in accordance with
Section 8.07(a) hereof provided that at the time of any such assignment the Company has paid to the LC Issuer all amounts due it hereunder. 

SECTION 8.08 Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.

 SECTION 8.09 Independence of Provisions. All agreements and covenants hereunder shall be given independent effect such
that if a particular action or condition is 
  

 44 

 
prohibited by the terms of any such agreement or covenant, the fact that such action or condition would be permitted within the limitations of another agreement or covenant shall not be construed
as allowing such action to be taken or condition to exist. 
 SECTION 8.10 Confidentiality. The LC Issuer agrees that it
will not disclose to any third party any Confidential Information provided to it by the Company; provided, that, the foregoing will not (a) restrict the ability of the LC Issuer and any letter of credit participants from freely
exchanging Confidential Information among themselves (and its Affiliates, employees, attorneys, agents and advisors), (b) restrict the ability to disclose Confidential Information to a prospective Eligible Assignee or participant,
provided, that, such Eligible Assignee or participant executes a confidentiality agreement with the LC Issuer agreeing to be bound by the terms hereof prior to disclosure of Confidential Information to such Eligible Assignee or
participant or (c) prohibit the disclosure of Confidential Information to the extent: (i) the Confidential Information is or has already become part of the public domain at the time of disclosure, by publication or otherwise, except by
breach of this Section 8.10, (ii) the Confidential Information can be established by written evidence to have already been in the lawful possession of the LC Issuer prior to the time of disclosure; or (iii) the Confidential
Information is received by the LC Issuer from a third party not known to have a similar restriction and without breach of this Section 8.10, or (iv) the Confidential Information is required to be disclosed by order of a court of competent
jurisdiction, administrative agency or governmental body, or by subpoena, summons or other legal process, or by law, rule or regulation, or by applicable regulatory or professional standards provided that prior to such disclosure the Company and the
non-disclosing party are each given reasonable advance notice of such order and an opportunity to object to such disclosure; provided, that, no such notice or opportunity shall be required if disclosure is required in connection with
an examination by a regulatory authority or is required in such circumstances where the applicable Governmental Authority does not permit such notice or opportunity (it being understood the LC Issuer will inform such authority of the confidential
nature of the Confidential Information being disclosed). 
 SECTION 8.11 Headings. Article and Section headings in this
Agreement are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. 

SECTION 8.12 Entire Agreement. This Agreement sets forth the entire agreement of the parties with respect to its subject matter
and supersedes all previous understandings, written or oral, in respect thereof. 
 SECTION 8.13 Execution in
Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. 
 SECTION 8.14 Consent to Jurisdiction. (a) Each of the parties hereto
hereby irrevocably submits to the non-exclusive jurisdiction of any New York State or Federal court sitting in the County of New York, The City of New York, in any action or proceeding arising out of or relating to this Agreement or any other LC
Facility Document or the Letters of Credit, and each of the parties hereby irrevocably agrees that all claims in respect of such action 

 

 45 

 
or proceeding may be heard and determined in such New York State court or such Federal court. Each of the parties hereby irrevocably agrees, to the fullest extent each may effectively do so, that
each will not assert any defense that such courts do not have subject matter or personal jurisdiction of such action or proceeding or over any party hereto. Each of the parties hereby irrevocably consents to the service of copies of the summons and
complaint and any other process which may be served in any such action or proceeding by certified mail, return receipt requested, or by delivering of a copy of such process to such party at its address specified in Section 8.02 hereof or by any
other method permitted by law. Each of the parties hereby agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or by any other manner provided by law.

 (b) Nothing in this Section 8.14 shall affect the right of any of the parties hereto to serve legal
process in any other manner permitted by law or affect the right of any of the parties to bring any action or proceeding against any of the parties or their property in the courts of other jurisdictions. 

SECTION 8.15 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK, EXCEPT, IN THE CASE OF ARTICLE II, TO THE EXTENT SUCH LAWS ARE INCONSISTENT WITH THE UCP. 
 SECTION 8.16 WAIVER OF
JURY TRIAL. EACH OF THE COMPANY, THE LC SUBSIDIARIES, AND THE LC ISSUER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LC FACILITY DOCUMENT OR THE LETTERS OF CREDIT, OR THE ACTIONS OF THE LC ISSUER IN CONNECTION WITH THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF. 

[The remainder of this page intentionally left blank.] 

 

 46 

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

			
	THE COMPANY:
	
	THE GAP, INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

			
	THE LC SUBSIDIARIES
	
	BANANA REPUBLIC, LLC
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

			
	GAP (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

			
	GAP (FRANCE) S.A.S.
		
	By:	 	  

	Name:	 	Lisa D. Mertens
	Title:	 	President

  

			
	 GAP (JAPAN) K.K.

		
	By:	 	  

	Name:	 	Thomas J. Lima
	Title:	 	Director

  

 47 

			
	GAP (NETHERLANDS) B.V.
		
	By:	 	  

	Name:	 	Julie H. Kanberg
	Title:	 	Managing Director

  

			
	GPS CONSUMER DIRECT, INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

			
	GPS (GREAT BRITAIN) LIMITED
		
	By:	 	  

	Name:	 	Byron H. Pollitt, Jr.
	Title:	 	Director

  

			
	OLD NAVY (CANADA) INC.
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

			
	FORTH & TOWNE LLC
		
	By:	 	  

	Name:	 	Sabrina Simmons
	Title:	 	Senior Vice President and Treasurer

  

 48 

			
	THE LC ISSUER:
	
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title	 	

  

	
	 Issuing Office:
  

Robert Corder, Senior Vice President
 HSBC Bank
USA, National Association
 452 Fifth Avenue,
5th Floor

New York, NY 10018
  

Phone: 212-525-2602
 Fax: 212-525-2479

 
 Email: robert.corder@us.hsbc.com

 

 49 

					
	SCHEDULES	  		    	
			
	Schedule I	  	-	    	Change of Control
	Schedule II	  	-	    	Outstanding Balance of Existing Letters of Credit
	Schedule III	  	-	    	LC Subsidiaries
	Schedule IV	  	-	    	Plans
	Schedule V	  	-	    	ERISA Matters
	Schedule VI	  	-	    	Environmental Matters
	Schedule VII	  	-	    	Existing Debt
	Schedule VIII	  	-	    	Existing Liens

 Schedule I 

CHANGE OF CONTROL 
  

	1.	Donald G. Fisher 

  

	2.	Doris F. Fisher 

  

	3.	Any person related by blood or marriage to any of the foregoing persons and any Person (as defined in this Agreement) as to which any of such persons has beneficial
ownership of the assets of such Person. 

  

	4.	The executive officers of The Gap, Inc. as of May 6, 2005. 

 Schedule II 

 

 

 GAP DC Outstanding as at 6 May 2005 

 

																	
	 Beneficiary
	  	 Applicant
	  	 DC No.
	  	 	  	 Issue Date
	  	 	  	 DC Amount
	  	 Expiry Date
	  	 
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580277	  	20050315	  	USD	  	5,265.55	  	20050505	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580278	  	20050315	  	USD	  	124.20	  	20050512	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580327	  	20050329	  	USD	  	(2,289.40)	  	20050512	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580349	  	20050411	  	USD	  	(16,464.10)	  	20050526	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580387	  	20050422	  	USD	  	53,826.50	  	20050609	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580388	  	20050422	  	USD	  	7,493.20	  	20050609	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580426	  	20050504	  	USD	  	2,248.40	  	20050616	  	
	 AITKEN SPENCE GARMENTS LTD
	  		  	DCBOCB	  	580427	  	20050504	  	USD	  	15,510.00	  	20050616	  	
	 AITKEN SPENCE GARMENTS LTD Total
	  		  		  		  		  		  	65,714.35	  		  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580279	  	20050315	  	USD	  	15,925.10	  	20050512	  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580280	  	20050315	  	USD	  	1,634.00	  	20050505	  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580350	  	20050411	  	USD	  	12,440.00	  	20050602	  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580389	  	20050422	  	USD	  	144,857.05	  	20050609	  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580390	  	20050422	  	USD	  	7,880.70	  	20050609	  	
	 AMRITA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580428	  	20050504	  	USD	  	74,000.00	  	20050616	  	
	 AMRITA APPARELS (PVT) LTD Total
	  		  		  		  		  		  	256,736.85	  		  	
	 ANUPAMA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580281	  	20050315	  	USD	  	1,286.81	  	20050505	  	
	 ANUPAMA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580328	  	20050329	  	USD	  	98,461.80	  	20050519	  	
	 ANUPAMA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580351	  	20050411	  	USD	  	220,680.28	  	20050602	  	
	 ANUPAMA APPARELS (PVT) LTD
	  		  	DCBOCB	  	580391	  	20050422	  	USD	  	11,250.00	  	20050609	  	
	 ANUPAMA APPARELS (PVT) LTD Total
	  		  		  		  		  		  	331,678.89	  		  	
	 BIN BIN KNITWEAR MFG SDN BHD
	  		  	DCBOCB	  	580283	  	20050315	  	USD	  	(871.20)	  	20050507	  	
	 BIN BIN KNITWEAR MFG SDN BHD
	  		  	DCBOCB	  	580392	  	20050422	  	USD	  	78,000.00	  	20050611	  	
	 BIN BIN KNITWEAR MFG SDN BHD
	  		  	DCBOCB	  	580393	  	20050422	  	USD	  	6,245.00	  	20050611	  	
	 BIN BIN KNITWEAR MFG SDN BHD Total
	  		  		  		  		  		  	83,373.80	  		  	
	 D.H. DE MEL COMPANY
	  		  	DCBOCB	  	580284	  	20050315	  	USD	  	(622.75)	  	20050505	  	
	 D.H. DE MEL COMPANY
	  		  	DCBOCB	  	580352	  	20050411	  	USD	  	2,905.80	  	20050602	  	
	 D.H. DE MEL COMPANY Total
	  		  		  		  		  		  	2,283.05	  		  	
	 DSL LANKA (PVT) LTD
	  		  	DCBOCB	  	580286	  	20050315	  	USD	  	(752.72)	  	20050505	  	
	 DSL LANKA (PVT) LTD Total
	  		  		  		  		  		  	(752.72)	  		  	
	 FAR EAST KNITTING CO LTD
	  		  	DCBOCB	  	580394	  	20050422	  	USD	  	3,918.24	  	20050605	  	
	 FAR EAST KNITTING CO LTD Total
	  		  		  		  		  		  	3,918.24	  		  	
	 FASHIONLINE SAIGON LTD
	  		  	DCBOCB	  	580287	  	20050315	  	USD	  	39,261.72	  	20050508	  	
	 FASHIONLINE SAIGON LTD
	  		  	DCBOCB	  	580329	  	20050329	  	USD	  	6,715.80	  	20050522	  	
	 FASHIONLINE SAIGON LTD
	  		  	DCBOCB	  	580353	  	20050411	  	USD	  	349,462.00	  	20050529	  	
	 FASHIONLINE SAIGON LTD
	  		  	DCBOCB	  	580354	  	20050411	  	USD	  	90,000.00	  	20050602	  	
	 FASHIONLINE SAIGON LTD Total
	  		  		  		  		  		  	485,439.52	  		  	
	 FAVOURITE HANWELLA (PVT) LTD
	  		  	DCBOCB	  	580288	  	20050315	  	USD	  	(1,140.15)	  	20050505	  	
	 FAVOURITE HANWELLA (PVT) LTD
	  		  	DCBOCB	  	580355	  	20050411	  	USD	  	74,100.00	  	20050602	  	
	 FAVOURITE HANWELLA (PVT) LTD Total
	  		  		  		  		  		  	72,959.85	  		  	
	 FS SWEATERS LIMITED
	  		  	DCBOCB	  	580080	  	20050126	  	USD	  	321,000.00	  	20050527	  	
	 FS SWEATERS LIMITED
	  		  	DCBOCB	  	580142	  	20050204	  	USD	  	266,000.00	  	20050624	  	
	 FS SWEATERS LIMITED
	  		  	DCBOCB	  	580143	  	20050204	  	USD	  	115,000.00	  	20050708	  	
	 FS SWEATERS LIMITED
	  		  	DCBOCB	  	580289	  	20050315	  	USD	  	232,000.00	  	20050722	  	
	 FS SWEATERS LIMITED
	  		  	DCBOCB	  	580290	  	20050315	  	USD	  	35,400.00	  	20050708	  	
	 FS SWEATERS LIMITED Total
	  		  		  		  		  		  	969,400.00	  		  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580291	  	20050315	  	USD	  	(19,073.92)	  	20050505	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580292	  	20050315	  	USD	  	(1,883.95)	  	20050512	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580330	  	20050329	  	USD	  	(34.00)	  	20050519	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580331	  	20050329	  	USD	  	(3,856.42)	  	20050512	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580356	  	20050411	  	USD	  	13,718.00	  	20050526	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580381	  	20050411	  	USD	  	587,049.00	  	20050602	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580420	  	20050422	  	USD	  	716,731.00	  	20050609	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580425	  	20050503	  	USD	  	106,000.00	  	20050623	  	
	 GROWTH LANKA PVT LTD
	  		  	DCBOCB	  	580429	  	20050504	  	USD	  	18,736.50	  	20050616	  	
	 GROWTH LANKA PVT LTD Total
	  		  		  		  		  		  	1,417,386.21	  		  	
	 HIGHNOON TEXTILES PVT LIMITED
	  		  	DCBOCB	  	580293	  	20050315	  	USD	  	2,777.04	  	20050505	  	
	 HIGHNOON TEXTILES PVT LIMITED
	  		  	DCBOCB	  	580357	  	20050411	  	USD	  	63,240.00	  	20050602	  	
	 HIGHNOON TEXTILES PVT LIMITED
	  		  	DCBOCB	  	580430	  	20050504	  	USD	  	62,260.00	  	20050616	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 HIGHNOON TEXTILES PVT LIMITED Total
	  		  		  		  		  		  	128,277.04	  		  	
	 L.A SOURCING (M) SDN BHD
	  		  	DCBOCB	  	580358	  	20050411	  	USD	  	90,585.00	  	20050530	  	
	 L.A SOURCING (M) SDN BHD Total
	  		  		  		  		  		  	90,585.00	  		  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580295	  	20050315	  	USD	  	(5,087.25)	  	20050504	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580296	  	20050315	  	USD	  	50.57	  	20050503	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580333	  	20050329	  	USD	  	468.80	  	20050524	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580359	  	20050411	  	USD	  	124,527.54	  	20050601	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580395	  	20050422	  	USD	  	377,520.00	  	20050608	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580396	  	20050422	  	USD	  	62,755.00	  	20050607	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580431	  	20050504	  	USD	  	57,940.00	  	20050615	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580432	  	20050504	  	USD	  	13,408.75	  	20050615	  	
	 LEE YIN KNITTING FTY PTE LTD
	  		  	DCBOCB	  	580433	  	20050504	  	USD	  	17,920.00	  	20050614	  	
	 LEE YIN KNITTING FTY PTE LTD Total
	  		  		  		  		  		  	649,503.41	  		  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580334	  	20050329	  	USD	  	90,689.95	  	20050523	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580335	  	20050329	  	USD	  	4,485.00	  	20050523	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580345	  	20050329	  	USD	  	813,361.09	  	20050523	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580346	  	20050329	  	USD	  	23,324.00	  	20050511	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580347	  	20050329	  	USD	  	27,883.50	  	20050507	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580397	  	20050422	  	USD	  	51,610.00	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580398	  	20050422	  	USD	  	25,484.00	  	20050706	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580399	  	20050422	  	USD	  	2,749.92	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580400	  	20050422	  	USD	  	141,097.44	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580401	  	20050422	  	USD	  	37,140.50	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580402	  	20050422	  	USD	  	14,930.00	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580403	  	20050422	  	USD	  	55,741.36	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580421	  	20050422	  	USD	  	1,425,060.63	  	20050613	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580434	  	20050504	  	USD	  	8,631.70	  	20050618	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580435	  	20050504	  	USD	  	13,400.00	  	20050620	  	
	 OCEAN SKY INTERNATIONAL LTD
	  		  	DCBOCB	  	580442	  	20050505	  	USD	  	1,000,716.28	  	20050620	  	
	 OCEAN SKY INTERNATIONAL LTD Total
	  		  		  		  		  		  	3,736,305.37	  		  	
	 PONIE INTERNATIONAL PTE LTD
	  		  	DCBOCB	  	580297	  	20050315	  	USD	  	971.75	  	20050505	  	
	 PONIE INTERNATIONAL PTE LTD Total
	  		  		  		  		  		  	971.75	  		  	
	 PT BINACITRA KHARISMA LESTARI
	  		  	DCBOCB	  	580299	  	20050315	  	USD	  	14,073.60	  	20050504	  	
	 PT BINACITRA KHARISMA LESTARI
	  		  	DCBOCB	  	580360	  	20050411	  	USD	  	210,380.00	  	20050601	  	
	 PT BINACITRA KHARISMA LESTARI
	  		  	DCBOCB	  	580361	  	20050411	  	USD	  	11,263.00	  	20050601	  	
	 PT BINACITRA KHARISMA LESTARI
	  		  	DCBOCB	  	580362	  	20050411	  	USD	  	32,615.00	  	20050531	  	
	 PT BINACITRA KHARISMA LESTARI
	  		  	DCBOCB	  	580404	  	20050422	  	USD	  	11,928.00	  	20050608	  	
	 PT BINACITRA KHARISMA LESTARI Total
	  		  		  		  		  		  	280,259.60	  		  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580302	  	20050315	  	USD	  	(374.40)	  	20050511	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580336	  	20050329	  	USD	  	4,422.00	  	20050524	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580337	  	20050329	  	USD	  	(1,187.70)	  	20050524	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580338	  	20050329	  	USD	  	15,676.29	  	20050502	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580363	  	20050411	  	USD	  	286,831.22	  	20050615	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580405	  	20050421	  	USD	  	155,776.00	  	20050607	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580406	  	20050421	  	USD	  	42,172.24	  	20050608	  	
	 PT ERATEX DJAJA TBK
	  		  	DCBOCB	  	580436	  	20050504	  	USD	  	253,729.41	  	20050621	  	
	 PT ERATEX DJAJA TBK Total
	  		  		  		  		  		  	757,045.06	  		  	
	 PT INSPIRAN ADITAMA
	  		  	DCBOCB	  	580303	  	20050315	  	USD	  	(1,328.80)	  	20050511	  	
	 PT INSPIRAN ADITAMA
	  		  	DCBOCB	  	580364	  	20050411	  	USD	  	274,249.00	  	20050608	  	
	 PT INSPIRAN ADITAMA
	  		  	DCBOCB	  	580365	  	20050411	  	USD	  	31,310.00	  	20050615	  	
	 PT INSPIRAN ADITAMA
	  		  	DCBOCB	  	580366	  	20050411	  	USD	  	1,817.70	  	20050524	  	
	 PT INSPIRAN ADITAMA
	  		  	DCBOCB	  	580407	  	20050422	  	USD	  	25,410.00	  	20050608	  	
	 PT INSPIRAN ADITAMA Total
	  		  		  		  		  		  	331,457.90	  		  	
	 PT ISTANA MAGNOLIATAMA
	  		  	DCBOCB	  	580304	  	20050315	  	USD	  	(85.25)	  	20050504	  	
	 PT ISTANA MAGNOLIATAMA
	  		  	DCBOCB	  	580305	  	20050315	  	USD	  	(11.40)	  	20050504	  	
	 PT ISTANA MAGNOLIATAMA
	  		  	DCBOCB	  	580367	  	20050411	  	USD	  	87,620.39	  	20050601	  	
	 PT ISTANA MAGNOLIATAMA
	  		  	DCBOCB	  	580408	  	20050422	  	USD	  	25,666.00	  	20050608	  	
	 PT ISTANA MAGNOLIATAMA Total
	  		  		  		  		  		  	113,189.74	  		  	
	 PT PREFASH WEARS CEMERLANG BONDED
	  		  	DCBOCB	  	580306	  	20050315	  	USD	  	1,859.91	  	20050504	  	
	 PT PREFASH WEARS CEMERLANG BONDED
	  		  	DCBOCB	  	580340	  	20050329	  	USD	  	69,429.60	  	20050524	  	
	 PT PREFASH WEARS CEMERLANG BONDED
	  		  	DCBOCB	  	580368	  	20050411	  	USD	  	16,400.00	  	20050607	  	
	 PT PREFASH WEARS CEMERLANG BONDED
	  		  	DCBOCB	  	580409	  	20050422	  	USD	  	17,630.00	  	20050607	  	
	 PT PREFASH WEARS CEMERLANG BONDED
	  		  	DCBOCB	  	580437	  	20050504	  	USD	  	129,006.00	  	20050621	  	
	 PT PREFASH WEARS CEMERLANG BONDED Total
	  		  		  		  		  		  	234,325.51	  		  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580309	  	20050315	  	USD	  	1,246.96	  	20050510	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580323	  	20050317	  	USD	  	(4,452.43)	  	20050509	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580341	  	20050329	  	USD	  	6,205.20	  	20050524	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580348	  	20050329	  	USD	  	169,209.15	  	20050518	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580369	  	20050411	  	USD	  	95.80	  	20050524	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580382	  	20050411	  	USD	  	42,663.88	  	20050530	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580383	  	20050411	  	USD	  	532,073.40	  	20050601	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580410	  	20050422	  	USD	  	62,690.00	  	20050615	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580411	  	20050422	  	USD	  	46,740.00	  	20050614	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580422	  	20050422	  	USD	  	761,340.95	  	20050615	  	
	 PT SAN SAN SAUDARATEX JAYA
	  		  	DCBOCB	  	580438	  	20050504	  	USD	  	122,715.00	  	20050615	  	
	 PT SAN SAN SAUDARATEX JAYA Total
	  		  		  		  		  		  	1,740,527.91	  		  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580310	  	20050315	  	USD	  	3,601.90	  	20050504	  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580342	  	20050329	  	USD	  	226,925.60	  	20050511	  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580343	  	20050329	  	USD	  	(4.40)	  	20050504	  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580412	  	20050422	  	USD	  	40,040.00	  	20050608	  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580413	  	20050422	  	USD	  	20,920.00	  	20050615	  	
	 PT SANDANG INDO PRATAMA
	  		  	DCBOCB	  	580423	  	20050422	  	USD	  	616,000.00	  	20050615	  	
	 PT SANDANG INDO PRATAMA Total
	  		  		  		  		  		  	907,483.10	  		  	
	 PT TRINUNGGAL KOMARA
	  		  	DCBOCB	  	580370	  	20050411	  	USD	  	7,793.10	  	20050601	  	
	 PT TRINUNGGAL KOMARA
	  		  	DCBOCB	  	580371	  	20050411	  	USD	  	241,135.00	  	20050531	  	
	 PT TRINUNGGAL KOMARA
	  		  	DCBOCB	  	580384	  	20050411	  	USD	  	744,478.18	  	20050601	  	
	 PT TRINUNGGAL KOMARA
	  		  	DCBOCB	  	580414	  	20050422	  	USD	  	185,000.00	  	20050608	  	
	 PT TRINUNGGAL KOMARA
	  		  	DCBOCB	  	580415	  	20050422	  	USD	  	13,910.00	  	20050608	  	
	 PT TRINUNGGAL KOMARA Total
	  		  		  		  		  		  	1,192,316.28	  		  	
	 READYWEAR INDUSTRIES LTD
	  		  	DCBOCB	  	580311	  	20050315	  	USD	  	6,652.42	  	20050505	  	
	 READYWEAR INDUSTRIES LTD Total
	  		  		  		  		  		  	6,652.42	  		  	
	 RUSIRUMAL (PTE) LTD
	  		  	DCBOCB	  	580312	  	20050315	  	USD	  	(2,092.09)	  	20050505	  	
	 RUSIRUMAL (PTE) LTD
	  		  	DCBOCB	  	580372	  	20050411	  	USD	  	42,560.00	  	20050602	  	
	 RUSIRUMAL (PTE) LTD
	  		  	DCBOCB	  	580416	  	20050422	  	USD	  	51,995.00	  	20050609	  	
	 RUSIRUMAL (PTE) LTD
	  		  	DCBOCB	  	580417	  	20050422	  	USD	  	3,010.50	  	20050609	  	
	 RUSIRUMAL (PTE) LTD Total
	  		  		  		  		  		  	95,473.41	  		  	
	 SHAHKAM INDUSTRIES PVT LTD
	  		  	DCBOCB	  	580324	  	20050317	  	USD	  	(9,011.80)	  	20050506	  	
	 SHAHKAM INDUSTRIES PVT LTD
	  		  	DCBOCB	  	580373	  	20050411	  	USD	  	222,300.00	  	20050603	  	
	 SHAHKAM INDUSTRIES PVT LTD
	  		  	DCBOCB	  	580374	  	20050411	  	USD	  	8,646.00	  	20050526	  	
	 SHAHKAM INDUSTRIES PVT LTD
	  		  	DCBOCB	  	580424	  	20050422	  	USD	  	1,154,900.00	  	20050616	  	
	 SHAHKAM INDUSTRIES PVT LTD Total
	  		  		  		  		  		  	1,376,834.20	  		  	
	 SOUTHERN FASHIONS PVT LTD
	  		  	DCBOCB	  	580313	  	20050315	  	USD	  	(2,147.98)	  	20050505	  	
	 SOUTHERN FASHIONS PVT LTD
	  		  	DCBOCB	  	580375	  	20050411	  	USD	  	470,800.00	  	20050602	  	
	 SOUTHERN FASHIONS PVT LTD
	  		  	DCBOCB	  	580418	  	20050422	  	USD	  	85,150.00	  	20050609	  	
	 SOUTHERN FASHIONS PVT LTD Total
	  		  		  		  		  		  	553,802.02	  		  	
	 STARLINES CORPORATION LTD
	  		  	DCBOCB	  	580376	  	20050411	  	USD	  	2,348.50	  	20050601	  	
	 STARLINES CORPORATION LTD
	  		  	DCBOCB	  	580419	  	20050422	  	USD	  	221,000.00	  	20050615	  	
	 STARLINES CORPORATION LTD Total
	  		  		  		  		  		  	223,348.50	  		  	
	 SUNSHINE TRADING (HK) CO. LTD
	  		  	DCBOCB	  	580316	  	20050315	  	USD	  	(4,770.46)	  	20050509	  	
	 SUNSHINE TRADING (HK) CO. LTD
	  		  	DCBOCB	  	580325	  	20050317	  	USD	  	(23,358.30)	  	20050509	  	
	 SUNSHINE TRADING (HK) CO. LTD
	  		  	DCBOCB	  	580377	  	20050411	  	USD	  	288,387.25	  	20050530	  	
	 SUNSHINE TRADING (HK) CO. LTD Total
	  		  		  		  		  		  	260,258.49	  		  	
	 TEXWOOD INDUSTRIES LTD
	  		  	DCBOCB	  	580319	  	20050315	  	USD	  	260.40	  	20050505	  	
	 TEXWOOD INDUSTRIES LTD
	  		  	DCBOCB	  	580344	  	20050329	  	USD	  	346.56	  	20050512	  	
	 TEXWOOD INDUSTRIES LTD
	  		  	DCBOCB	  	580378	  	20050411	  	USD	  	97,020.00	  	20050602	  	
	 TEXWOOD INDUSTRIES LTD Total
	  		  		  		  		  		  	97,626.96	  		  	
	 TROPICA GMTS LTD
	  		  	DCBOCB	  	580072	  	20050117	  	USD	  	82,702.16	  	20050603	  	
	 TROPICA GMTS LTD Total
	  		  		  		  		  		  	82,702.16	  		  	
	 W W SYNERGY CLOTHING (PVT) LTD
	  		  	DCBOCB	  	580320	  	20050315	  	USD	  	(3,088.88)	  	20050505	  	
	 W W SYNERGY CLOTHING (PVT) LTD Total
	  		  		  		  		  		  	(3,088.88)	  		  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580321	  	20050315	  	USD	  	4,915.50	  	20050502	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580322	  	20050315	  	USD	  	6,567.00	  	20050502	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580326	  	20050317	  	USD	  	761,923.11	  	20050507	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580379	  	20050411	  	USD	  	33,120.00	  	20050530	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580380	  	20050411	  	USD	  	29,060.00	  	20050530	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580385	  	20050411	  	USD	  	523,477.30	  	20050613	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580386	  	20050411	  	USD	  	48,319.80	  	20050514	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580439	  	20050504	  	USD	  	260,815.50	  	20050620	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580440	  	20050504	  	USD	  	15,000.00	  	20050613	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD
	  		  	DCBOCB	  	580441	  	20050504	  	USD	  	37,578.84	  	20050618	  	
	 YUNG WAH INDUSTRIAL CO PTE LTD Total
	  		  		  		  		  		  	1,720,777.05	  		  	
	 Processed by HSBC Singapore
	  	 Total (GAP Singapore)
	  		  		  		  		  	18,264,772.04	  		  	
	 CRISMINA GARMENTS INC
	  	 BANANA REPUBLIC LLC
	  	HKH 670574	  		  	20050314	  	USD	  	29,546.22	  	20050510	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	29,546.22	  		  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994746	  		  	20050408	  	USD	  	8,976.00	  	20050601	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994753	  		  	20050414	  	USD	  	16,361.32	  	20050608	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994759	  		  	20050419	  	USD	  	18,072.00	  	20050706	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994777	  		  	20050428	  	USD	  	2,418.00	  	20050622	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994780	  		  	20050503	  	USD	  	3,104.00	  	20050601	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	48,931.32	  		  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992326	  		  	20050408	  	USD	  	187,579.60	  	20050607	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992342	  		  	20050414	  	USD	  	307,450.00	  	20050608	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992223	  		  	20050304	  	USD	  	101,986.34	  	20050510	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992248	  		  	20050314	  	USD	  	67,754.52	  	20050510	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992352	  		  	20050419	  	USD	  	363,434.20	  	20050615	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992384	  		  	20050428	  	USD	  	246,828.60	  	20050712	  	
	 GLOBALTEX MACAO COMMERCIAL OFFSHORE
	  	 THE GAP INC.
	  	HKH 992385	  		  	20050428	  	USD	  	110,000.00	  	20050607	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,385,033.26	  		  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670575	  		  	20050314	  	USD	  	348.36	  	20050503	  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670583	  		  	20050323	  	USD	  	239.03	  	20050517	  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670590	  		  	20050408	  	USD	  	25,004.00	  	20050529	  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670591	  		  	20050408	  	USD	  	5,112.13	  	20050531	  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670594	  		  	20050414	  	USD	  	31,920.40	  	20050605	  	
	 LAWS FALCON APPAREL CO LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670599	  		  	20050428	  	USD	  	1,880.00	  	20050619	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	64,503.92	  		  	
	 LAWS FALCON APPAREL CO LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994667	  		  	20050208	  	USD	  	1,200.12	  	20050503	  	
	 LAWS FALCON APPAREL CO LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994747	  		  	20050408	  	USD	  	5,400.12	  	20050601	  	
	 LAWS FALCON APPAREL CO LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994755	  		  	20050414	  	USD	  	7,575.00	  	20050608	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	14,175.24	  		  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992251	  		  	20050314	  	USD	  	2,556.58	  	20050510	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992327	  		  	20050408	  	USD	  	145,634.19	  	20050531	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992332	  		  	20050408	  	USD	  	248,323.57	  	20050614	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992343	  		  	20050414	  	USD	  	173,940.00	  	20050608	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992353	  		  	20050419	  	USD	  	26,344.00	  	20050612	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992354	  		  	20050419	  	USD	  	83,850.96	  	20050615	  	
	 LAWS FALCON APPAREL CO LTD
	  	 THE GAP INC.
	  	HKH 992386	  		  	20050428	  	USD	  	81,250.00	  	20050619	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	761,899.30	  		  	
	 LITA LIMITED.
	  	 BANANA REPUBLIC LLC
	  	HKH 670579	  		  	20050321	  	USD	  	225.00	  	20050511	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	225.00	  		  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994778	  		  	20050428	  	USD	  	10,000.00	  	20050622	  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994781	  		  	20050503	  	USD	  	6,270.00	  	20050628	  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994748	  		  	20050408	  	USD	  	34,044.50	  	20050608	  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994749	  		  	20050408	  	USD	  	5,400.00	  	20050601	  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994754	  		  	20050414	  	USD	  	16,243.50	  	20050615	  	
	 LITA LIMITED.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994783	  		  	20050503	  	USD	  	27,154.50	  	20050629	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	99,112.50	  		  	
	 LITA LIMITED.
	  	 THE GAP INC.
	  	HKH 992328	  		  	20050408	  	USD	  	110,100.00	  	20050607	  	
	 LITA LIMITED.
	  	 THE GAP INC.
	  	HKH 992344	  		  	20050414	  	USD	  	219,640.05	  	20050615	  	
	 LITA LIMITED.
	  	 THE GAP INC.
	  	HKH 992392	  		  	20050503	  	USD	  	1,291,044.25	  	20050629	  	
	 LITA LIMITED.
	  	 THE GAP INC.
	  	HKH 992393	  		  	20050503	  	USD	  	192,700.00	  	20050629	  	
	 MERCANTILE GARMENT CO LTD
	  	 THE GAP INC.
	  	HKH 992345	  		  	20050414	  	USD	  	322,728.00	  	20050607	  	
	 MERCANTILE GARMENT CO LTD
	  	 THE GAP INC.
	  	HKH 992355	  		  	20050419	  	USD	  	729,408.00	  	20050614	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	2,865,620.30	  		  	
	 RUN WIDE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994728	  		  	20050323	  	USD	  	3,040.00	  	20050517	  	
	 RUN WIDE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994756	  		  	20050414	  	USD	  	3,168.00	  	20050607	  	
	 RUN WIDE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994760	  		  	20050419	  	USD	  	25,454.60	  	20050612	  	
	 RUN WIDE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994779	  		  	20050428	  	USD	  	58,373.35	  	20050712	  	
	 RUN WIDE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994782	  		  	20050503	  	USD	  	5,400.00	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	95,435.95	  		  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992279	  		  	20050323	  	USD	  	1,107.75	  	20050508	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992329	  		  	20050408	  	USD	  	300,262.48	  	20050607	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992346	  		  	20050414	  	USD	  	103,549.95	  	20050619	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992347	  		  	20050414	  	USD	  	20,400.00	  	20050619	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992356	  		  	20050419	  	USD	  	325,871.78	  	20050614	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992387	  		  	20050428	  	USD	  	387,496.55	  	20050710	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992388	  		  	20050428	  	USD	  	207,874.25	  	20050619	  	
	 RUN WIDE LTD
	  	 THE GAP INC.
	  	HKH 992394	  		  	20050503	  	USD	  	46,800.00	  	20050628	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,393,362.76	  		  	
	 Processed by HSBC Hong Kong
	  	 Total (GAP Hong Kong)
	  		  		  		  		  	6,757,845.77	  		  	
									
	 ABU DHABI GARMENT FACTORY
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994785	  		  	20050504	  	USD	  	45,052.50	  	20050629	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	45,052.50	  		  	
	 ABU DHABI GARMENT FACTORY
	  	 THE GAP INC.
	  	HKH 992373	  		  	20050426	  	USD	  	1,391,415.00	  	20050615	  	
	 ABU DHABI GARMENT FACTORY
	  	 THE GAP INC.
	  	HKH 992375	  		  	20050421	  	USD	  	676,690.00	  	20050615	  	
	 ABU DHABI GARMENT FACTORY
	  	 THE GAP INC.
	  	HKH 992396	  		  	20050504	  	USD	  	112,505.00	  	20050629	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	2,180,610.00	  		  	
	 AMBATTUR CLOTHING INTL WLL
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994732	  		  	20050330	  	USD	  	73,706.16	  	20050522	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994761	  		  	20050421	  	USD	  	38,699.80	  	20050612	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994795	  		  	20050506	  	USD	  	76,702.80	  	20050703	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	189,108.76	  		  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992302	  		  	20050330	  	USD	  	1,278,855.09	  	20050529	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992319	  		  	20050407	  	USD	  	441,028.01	  	20050605	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992357	  		  	20050421	  	USD	  	339,610.55	  	20050619	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992389	  		  	20050429	  	USD	  	219,703.48	  	20050626	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992399	  		  	20050504	  	USD	  	262,190.66	  	20050703	  	
	 AMBATTUR CLOTHING INTL WLL
	  	 THE GAP INC.
	  	HKH 992429	  		  	20050506	  	USD	  	1,252,013.75	  	20050703	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	3,793,401.54	  		  	
	 AMBATTUR CLOTHING LIMITED
	  	 BANANA REPUBLIC LLC
	  	HKH 670595	  		  	20050414	  	USD	  	53,783.30	  	20050608	  	
	 AMBATTUR CLOTHING LIMITED
	  	 BANANA REPUBLIC LLC
	  	HKH 670597	  		  	20050414	  	USD	  	877,419.30	  	20050610	  	
	 AMBATTUR CLOTHING LIMITED
	  	 BANANA REPUBLIC LLC
	  	HKH 670598	  		  	20050414	  	USD	  	790,822.14	  	20050610	  	
	 AMBATTUR CLOTHING LIMITED
	  	 BANANA REPUBLIC LLC
	  	HKH 670600	  		  	20050504	  	USD	  	164,366.67	  	20050709	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	1,886,391.41	  		  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994709	  		  	20050310	  	USD	  	10,846.00	  	20050524	  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994720	  		  	20050316	  	USD	  	5,377.20	  	20050513	  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994745	  		  	20050407	  	USD	  	22,763.60	  	20050531	  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994757	  		  	20050414	  	USD	  	148,925.50	  	20050607	  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994758	  		  	20050414	  	USD	  	29,372.60	  	20050614	  	
	 AMBATTUR CLOTHING LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994784	  		  	20050504	  	USD	  	28,318.00	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	245,602.90	  		  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992056	  		  	20050126	  	USD	  	22,600.53	  	20050505	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992198	  		  	20050224	  	USD	  	24,897.62	  	20050513	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992239	  		  	20050310	  	USD	  	126,929.26	  	20050522	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992240	  		  	20050310	  	USD	  	13,692.69	  	20050526	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992256	  		  	20050316	  	USD	  	10,404.61	  	20050523	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992262	  		  	20050316	  	USD	  	214,594.13	  	20050524	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992280	  		  	20050324	  	USD	  	283,743.55	  	20050531	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992294	  		  	20050330	  	USD	  	29,673.32	  	20050524	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992325	  		  	20050407	  	USD	  	1,114,196.58	  	20050614	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992348	  		  	20050414	  	USD	  	200,533.04	  	20050618	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992358	  		  	20050421	  	USD	  	130,414.00	  	20050618	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992374	  		  	20050421	  	USD	  	875,727.52	  	20050617	  	
	 AMBATTUR CLOTHING LIMITED
	  	 THE GAP INC.
	  	HKH 992422	  		  	20050504	  	USD	  	601,220.27	  	20050705	  	
	 AMEX LIMITED
	  	 THE GAP INC.
	  	HKH 991908	  		  	20041229	  	USD	  	1,084.00	  	20050520	  	
	 AMEX LIMITED
	  	 THE GAP INC.
	  	HKH 992120	  		  	20050207	  	USD	  	542,000.00	  	20050624	  	
	 AMEX LIMITED
	  	 THE GAP INC.
	  	HKH 992304	  		  	20050331	  	USD	  	65,040.00	  	20050819	  	
	 AMEX LIMITED
	  	 THE GAP INC.
	  	HKH 992334	  		  	20050413	  	USD	  	108,400.00	  	20050819	  	
	 AMEX LIMITED
	  	 THE GAP INC.
	  	HKH 992362	  		  	20050421	  	USD	  	108,400.00	  	20050916	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 991982	  		  	20050112	  	USD	  	503,944.00	  	20050527	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992027	  		  	20050124	  	USD	  	11,600.00	  	20050610	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992028	  		  	20050124	  	USD	  	31,356.00	  	20050617	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992071	  		  	20050127	  	USD	  	55,350.00	  	20050610	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992150	  		  	20050218	  	USD	  	18,114.74	  	20050429	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992121	  		  	20050207	  	USD	  	88,673.24	  	20050624	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992149	  		  	20050218	  	USD	  	28,136.16	  	20050701	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992172	  		  	20050223	  	USD	  	20,888.47	  	20050708	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992173	  		  	20050223	  	USD	  	453,837.60	  	20050715	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992227	  		  	20050310	  	USD	  	31,360.00	  	20050520	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992263	  		  	20050317	  	USD	  	7,980.00	  	20050701	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992305	  		  	20050331	  	USD	  	119,140.00	  	20050708	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992397	  		  	20050504	  	USD	  	41,248.20	  	20050916	  	
	 ANANTA SPORTSWEAR LTD
	  	 THE GAP INC.
	  	HKH 992401	  		  	20050504	  	USD	  	231,816.00	  	20050923	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	6,116,995.53	  		  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994638	  		  	20050127	  	USD	  	11,422.60	  	20050610	  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994671	  		  	20050218	  	USD	  	4,933.50	  	20050602	  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994705	  		  	20050304	  	USD	  	13,790.80	  	20050429	  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994684	  		  	20050224	  	USD	  	17,257.50	  	20050715	  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994722	  		  	20050317	  	USD	  	2,925.00	  	20050729	  	
	 ARMANA FASHIONS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994771	  		  	20050427	  	USD	  	15,680.00	  	20050617	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	66,009.40	  		  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 991909	  		  	20041229	  	USD	  	14,725.00	  	20050520	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 991865	  		  	20041215	  	USD	  	30,780.00	  	20050429	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 991970	  		  	20050112	  	USD	  	8,500.00	  	20050603	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992029	  		  	20050124	  	USD	  	1,178.00	  	20050610	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992072	  		  	20050127	  	USD	  	349,600.00	  	20050624	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992128	  		  	20050207	  	USD	  	216,720.00	  	20050513	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992151	  		  	20050218	  	USD	  	15,480.00	  	20050603	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992170	  		  	20050218	  	USD	  	1,244,526.70	  	20050624	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992174	  		  	20050224	  	USD	  	70,805.00	  	20050715	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992202	  		  	20050223	  	USD	  	493,755.70	  	20050715	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992224	  		  	20050310	  	USD	  	171,888.48	  	20050708	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992225	  		  	20050310	  	USD	  	11,305.00	  	20050729	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992264	  		  	20050317	  	USD	  	131,001.15	  	20050805	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992281	  		  	20050324	  	USD	  	16,500.00	  	20050715	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992306	  		  	20050331	  	USD	  	49,500.00	  	20050819	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992310	  		  	20050407	  	USD	  	51,441.25	  	20050819	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992333	  		  	20050413	  	USD	  	15,687.31	  	20050902	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992359	  		  	20050421	  	USD	  	21,612.50	  	20050909	  	
	 ARMANA FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992400	  		  	20050504	  	USD	  	57,750.00	  	20050923	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992218	  		  	20050304	  	USD	  	212,998.24	  	20050503	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992283	  		  	20050324	  	USD	  	130,367.08	  	20050531	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992296	  		  	20050330	  	USD	  	25,240.80	  	20050524	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992314	  		  	20050407	  	USD	  	78,288.00	  	20050531	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992360	  		  	20050421	  	USD	  	25,070.00	  	20050618	  	
	 ARVIND MILLS LTD
	  	 THE GAP INC.
	  	HKH 992403	  		  	20050504	  	USD	  	77,792.83	  	20050705	  	
	 AZMAT FASHIONS LIMITED
	  	 THE GAP INC.
	  	HKH 992176	  		  	20050224	  	USD	  	2,040.00	  	20050715	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	3,524,553.04	  		  	
	 B.J EXPO PRIVATE LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994734	  		  	20050330	  	USD	  	26,425.00	  	20050524	  	
	 B.J EXPO PRIVATE LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994750	  		  	20050413	  	USD	  	26,450.00	  	20050607	  	
	 B.J EXPO PRIVATE LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994762	  		  	20050421	  	USD	  	10,500.00	  	20050614	  	
	 B.J EXPO PRIVATE LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994772	  		  	20050427	  	USD	  	57,815.00	  	20050621	  	
	 B.J EXPO PRIVATE LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994786	  		  	20050504	  	USD	  	33,975.00	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	155,165.00	  		  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992282	  		  	20050324	  	USD	  	26,652.20	  	20050520	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992303	  		  	20050330	  	USD	  	545,985.80	  	20050531	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992315	  		  	20050407	  	USD	  	48,320.00	  	20050528	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992321	  		  	20050407	  	USD	  	519,400.00	  	20050614	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992361	  		  	20050421	  	USD	  	37,100.00	  	20050611	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992382	  		  	20050427	  	USD	  	721,025.00	  	20050719	  	
	 B.J EXPO PRIVATE LIMITED
	  	 THE GAP INC.
	  	HKH 992402	  		  	20050504	  	USD	  	52,095.00	  	20050702	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,950,578.00	  		  	
	 CHOICE GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994673	  		  	20050218	  	USD	  	42,679.40	  	20050701	  	
	 CHOICE GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994774	  		  	20050427	  	USD	  	25,311.00	  	20050610	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	67,990.40	  		  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992033	  		  	20050124	  	USD	  	34,972.00	  	20050610	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992074	  		  	20050127	  	USD	  	15,907.00	  	20050610	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992077	  		  	20050127	  	USD	  	16,400.00	  	20050610	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992088	  		  	20050127	  	USD	  	960,835.60	  	20050603	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992122	  		  	20050207	  	USD	  	21,060.00	  	20050610	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992132	  		  	20050207	  	USD	  	578,000.00	  	20050701	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992154	  		  	20050217	  	USD	  	314,540.00	  	20050527	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992155	  		  	20050218	  	USD	  	75,266.00	  	20050701	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992178	  		  	20050224	  	USD	  	27,696.00	  	20050715	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992226	  		  	20050310	  	USD	  	295,200.00	  	20050729	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992228	  		  	20050310	  	USD	  	24,140.00	  	20050805	  	
	 CHOICE GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992405	  		  	20050504	  	USD	  	43,728.00	  	20050916	  	
	 COLUMBIA APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992395	  		  	20050504	  	USD	  	61,061.50	  	20050923	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	2,468,806.10	  		  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994621	  		  	20050124	  	USD	  	14,720.00	  	20050610	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994639	  		  	20050127	  	USD	  	2,618.00	  	20050527	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994658	  		  	20050207	  	USD	  	6,241.20	  	20050624	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994672	  		  	20050218	  	USD	  	7,384.00	  	20050520	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994686	  		  	20050224	  	USD	  	4,021.10	  	20050520	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994687	  		  	20050224	  	USD	  	7,574.00	  	20050715	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994738	  		  	20050331	  	USD	  	27,965.00	  	20050610	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994773	  		  	20050427	  	USD	  	3,955.50	  	20050826	  	
	 COLUMBIA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994787	  		  	20050504	  	USD	  	4,832.00	  	20050819	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	79,310.80	  		  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991868	  		  	20041215	  	USD	  	5,047.47	  	20050506	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991913	  		  	20041231	  	USD	  	2,708.54	  	20050520	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991959	  		  	20050107	  	USD	  	8,700.00	  	20050603	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991968	  		  	20050107	  	USD	  	262,986.59	  	20050603	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991971	  		  	20050112	  	USD	  	34,190.00	  	20050527	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992031	  		  	20050124	  	USD	  	135,660.00	  	20050603	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992032	  		  	20050124	  	USD	  	26,612.00	  	20050617	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992047	  		  	20050124	  	USD	  	820,372.00	  	20050617	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992048	  		  	20050124	  	USD	  	566,960.40	  	20050610	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992075	  		  	20050127	  	USD	  	54,621.00	  	20050617	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992078	  		  	20050127	  	USD	  	249,073.78	  	20050624	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992123	  		  	20050207	  	USD	  	190,006.42	  	20050624	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992158	  		  	20050218	  	USD	  	99,433.20	  	20050701	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992179	  		  	20050224	  	USD	  	384,661.18	  	20050708	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992180	  		  	20050224	  	USD	  	11,923.92	  	20050708	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992181	  		  	20050224	  	USD	  	10,086.00	  	20050715	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992230	  		  	20050310	  	USD	  	9,108.00	  	20050701	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992232	  		  	20050310	  	USD	  	8,737.97	  	20050805	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992265	  		  	20050317	  	USD	  	31,270.00	  	20050805	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992284	  		  	20050324	  	USD	  	86,400.00	  	20050624	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992307	  		  	20050331	  	USD	  	310,200.00	  	20050729	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992308	  		  	20050331	  	USD	  	16,920.00	  	20050729	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992311	  		  	20050407	  	USD	  	11,558.50	  	20050826	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992381	  		  	20050427	  	USD	  	38,352.60	  	20050916	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992404	  		  	20050504	  	USD	  	406,699.12	  	20050923	  	
	 COLUMBIA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992406	  		  	20050504	  	USD	  	6,552.00	  	20050819	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	3,788,840.69	  		  	
	 DELTA FASHIONS LTD.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994640	  		  	20050127	  	USD	  	19,210.00	  	20050520	  	
	 DELTA FASHIONS LTD.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994690	  		  	20050223	  	USD	  	3,990.00	  	20050624	  	
	 DELTA FASHIONS LTD.
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994729	  		  	20050324	  	USD	  	1,900.00	  	20050624	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	25,100.00	  		  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 991930	  		  	20041229	  	USD	  	9,009.00	  	20050513	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 991973	  		  	20050112	  	USD	  	390,000.00	  	20050513	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992076	  		  	20050127	  	USD	  	52,236.00	  	20050520	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992092	  		  	20050127	  	USD	  	509,146.82	  	20050513	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992182	  		  	20050224	  	USD	  	328,700.00	  	20050617	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992266	  		  	20050317	  	USD	  	34,722.00	  	20050729	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992267	  		  	20050317	  	USD	  	135,500.00	  	20050722	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992274	  		  	20050317	  	USD	  	557,550.00	  	20050715	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992363	  		  	20050421	  	USD	  	37,056.00	  	20050701	  	
	 DELTA FASHIONS LTD.
	  	 THE GAP INC.
	  	HKH 992423	  		  	20050504	  	USD	  	653,600.00	  	20050902	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
		  	 THE GAP INC. Total
	  		  		  		  		  	2,707,519.82	  		  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994710	  		  	20050310	  	USD	  	66,767.55	  	20050506	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994711	  		  	20050310	  	USD	  	1,781.54	  	20050506	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994735	  		  	20050330	  	USD	  	18,157.20	  	20050525	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994743	  		  	20050407	  	USD	  	71,850.00	  	20050603	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994763	  		  	20050421	  	USD	  	13,277.50	  	20050615	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994788	  		  	20050504	  	USD	  	93,003.00	  	20050629	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994790	  		  	20050504	  	USD	  	56,458.25	  	20050630	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	321,295.04	  		  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992241	  		  	20050310	  	USD	  	614,517.73	  	20050513	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992257	  		  	20050316	  	USD	  	19,317.90	  	20050506	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992258	  		  	20050316	  	USD	  	441,912.28	  	20050520	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992259	  		  	20050316	  	USD	  	35,775.03	  	20050527	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992285	  		  	20050324	  	USD	  	192,125.00	  	20050518	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992231	  		  	20050310	  	USD	  	27,582.24	  	20050429	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992295	  		  	20050330	  	USD	  	479,303.31	  	20050608	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992260	  		  	20050316	  	USD	  	1,135.20	  	20050429	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992320	  		  	20050407	  	USD	  	27,157.00	  	20050603	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992323	  		  	20050407	  	USD	  	881,221.92	  	20050701	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992365	  		  	20050421	  	USD	  	375,996.20	  	20050618	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992390	  		  	20050429	  	USD	  	53,272.80	  	20050608	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992411	  		  	20050504	  	USD	  	74,750.00	  	20050629	  	
	 EMBEE READYMADE GMTS IND LTD
	  	 THE GAP INC.
	  	HKH 992424	  		  	20050504	  	USD	  	592,873.20	  	20050706	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	3,816,939.81	  		  	
	 GAURAV INTERNATIONAL
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994764	  		  	20050421	  	USD	  	11,667.60	  	20050618	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	11,667.60	  		  	
	 GAURAV INTERNATIONAL
	  	 THE GAP INC.
	  	HKH 992364	  		  	20050421	  	USD	  	195,515.97	  	20050702	  	
	 GAURAV INTERNATIONAL
	  	 THE GAP INC.
	  	HKH 992412	  		  	20050504	  	USD	  	64,120.10	  	20050624	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	259,636.07	  		  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994712	  		  	20050310	  	USD	  	45,700.00	  	20050729	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994723	  		  	20050317	  	USD	  	50,880.00	  	20050729	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994739	  		  	20050407	  	USD	  	4,700.00	  	20050610	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	101,280.00	  		  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 992035	  		  	20050124	  	USD	  	240,000.00	  	20050513	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 992037	  		  	20050124	  	USD	  	29,952.00	  	20050610	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 991870	  		  	20041215	  	USD	  	66,742.25	  	20050429	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 992080	  		  	20050127	  	USD	  	25,344.00	  	20050610	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 992124	  		  	20050207	  	USD	  	317,760.00	  	20050610	  	
	 GLOBAL APPAREL SOLUTIONS LTD
	  	 THE GAP INC.
	  	HKH 992413	  		  	20050504	  	USD	  	425,316.00	  	20050916	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,105,114.25	  		  	
	 GOKALDAS EXPORTS
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994794	  		  	20050504	  	USD	  	47,177.00	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	47,177.00	  		  	
	 GOKALDAS EXPORTS
	  	 THE GAP INC.
	  	HKH 992376	  		  	20050421	  	USD	  	1,025,640.00	  	20050705	  	
	 GOKALDAS EXPORTS
	  	 THE GAP INC.
	  	HKH 992408	  		  	20050504	  	USD	  	225,937.00	  	20050702	  	
	 GOKALDAS EXPORTS
	  	 THE GAP INC.
	  	HKH 992425	  		  	20050504	  	USD	  	1,460,930.00	  	20050802	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	2,712,507.00	  		  	
	 GOKALDAS INDIA
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994765	  		  	20050421	  	USD	  	12,080.00	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	12,080.00	  		  	
	 GOKALDAS INDIA
	  	 THE GAP INC.
	  	HKH 992349	  		  	20050414	  	USD	  	181,807.62	  	20050610	  	
	 GOKALDAS INDIA
	  	 THE GAP INC.
	  	HKH 992350	  		  	20050414	  	USD	  	81,828.00	  	20050607	  	
	 GOKALDAS INDIA
	  	 THE GAP INC.
	  	HKH 992366	  		  	20050421	  	USD	  	108,185.60	  	20050625	  	
	 GOKALDAS INDIA
	  	 THE GAP INC.
	  	HKH 992421	  		  	20050504	  	USD	  	45,580.00	  	20050702	  	
	 GOKALDAS INDIA
	  	 THE GAP INC.
	  	HKH 992428	  		  	20050504	  	USD	  	1,357,631.79	  	20050705	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,775,033.01	  		  	
	 GULF BARAKA APPAREL W.L.L
	  	 BANANA REPUBLIC LLC
	  	HKH 670602	  		  	20050504	  	USD	  	70,324.80	  	20050619	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	70,324.80	  		  	
	 GULF BARAKA APPAREL W.L.L
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994713	  		  	20050310	  	USD	  	10,282.80	  	20050501	  	
	 GULF BARAKA APPAREL W.L.L
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994721	  		  	20050316	  	USD	  	16,371.00	  	20050508	  	
	 GULF BARAKA APPAREL W.L.L
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994736	  		  	20050330	  	USD	  	19,521.90	  	20050522	  	
	 GULF BARAKA APPAREL W.L.L
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994766	  		  	20050421	  	USD	  	100,549.70	  	20050626	  	
	 GULF BARAKA APPAREL W.L.L
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994796	  		  	20050506	  	USD	  	79,594.80	  	20050703	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	226,320.20	  		  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992169	  		  	20050218	  	USD	  	442,713.00	  	20050503	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992234	  		  	20050310	  	USD	  	90,774.00	  	20050504	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992243	  		  	20050310	  	USD	  	258,968.93	  	20050501	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992261	  		  	20050316	  	USD	  	5,184.14	  	20050504	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992286	  		  	20050324	  	USD	  	215,396.16	  	20050517	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992297	  		  	20050330	  	USD	  	321,244.21	  	20050529	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992312	  		  	20050407	  	USD	  	438,623.50	  	20050703	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992351	  		  	20050414	  	USD	  	137,641.36	  	20050605	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992367	  		  	20050421	  	USD	  	159,743.55	  	20050619	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992391	  		  	20050429	  	USD	  	44,636.16	  	20050619	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992407	  		  	20050504	  	USD	  	164,029.83	  	20050801	  	
	 GULF BARAKA APPAREL W.L.L
	  	 THE GAP INC.
	  	HKH 992430	  		  	20050506	  	USD	  	1,136,603.33	  	20050807	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	3,415,558.17	  		  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670585	  		  	20050324	  	USD	  	167,601.50	  	20050628	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670588	  		  	20050330	  	USD	  	60,148.00	  	20050628	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670589	  		  	20050407	  	USD	  	234,045.76	  	20050617	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670596	  		  	20050414	  	USD	  	188,639.00	  	20050610	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670601	  		  	20050504	  	USD	  	430,196.59	  	20050628	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 BANANA REPUBLIC LLC
	  	HKH 670603	  		  	20050504	  	USD	  	121,585.04	  	20050709	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	1,202,215.89	  		  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994737	  		  	20050330	  	USD	  	11,116.80	  	20050524	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994744	  		  	20050407	  	USD	  	7,727.95	  	20050531	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994789	  		  	20050504	  	USD	  	75,940.40	  	20050628	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	94,785.15	  		  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992292	  		  	20050324	  	USD	  	338,815.95	  	20050531	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992298	  		  	20050330	  	USD	  	52,920.00	  	20050524	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992324	  		  	20050407	  	USD	  	562,932.00	  	20050607	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992335	  		  	20050413	  	USD	  	19,278.00	  	20050617	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992398	  		  	20050421	  	USD	  	276,040.97	  	20050701	  	
	 K. MOHAN AND COMPANY (EXPORTS)
	  	 THE GAP INC.
	  	HKH 992426	  		  	20050504	  	USD	  	619,295.38	  	20050730	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,869,282.30	  		  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670586	  		  	20050324	  	USD	  	288,090.00	  	20050628	  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670587	  		  	20050330	  	USD	  	324,366.97	  	20050524	  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670592	  		  	20050413	  	USD	  	254,142.97	  	20050610	  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670593	  		  	20050413	  	USD	  	180,532.80	  	20050604	  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670604	  		  	20050504	  	USD	  	462,710.69	  	20050628	  	
	 LEELA SCOTTISH LACE LTD
	  	 BANANA REPUBLIC LLC
	  	HKH 670605	  		  	20050504	  	USD	  	79,771.14	  	20050701	  	
		  	 BANANA REPUBLIC LLC Total
	  		  		  		  		  	1,589,614.57	  		  	
	 LEELA SCOTTISH LACE LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994741	  		  	20050407	  	USD	  	15,366.00	  	20050531	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	15,366.00	  		  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992299	  		  	20050330	  	USD	  	46,200.00	  	20050524	  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992313	  		  	20050407	  	USD	  	72,555.00	  	20050524	  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992336	  		  	20050413	  	USD	  	59,160.00	  	20050607	  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992369	  		  	20050421	  	USD	  	14,060.00	  	20050614	  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992409	  		  	20050504	  	USD	  	49,800.00	  	20050705	  	
	 LEELA SCOTTISH LACE LTD
	  	 THE GAP INC.
	  	HKH 992410	  		  	20050504	  	USD	  	85,940.00	  	20050628	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	327,715.00	  		  	
	 LIGHT STYLE GARMENT
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994767	  		  	20050421	  	USD	  	7,371.00	  	20050619	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	7,371.00	  		  	
	 LIGHT STYLE GARMENT
	  	 THE GAP INC.
	  	HKH 992337	  		  	20050413	  	USD	  	98,091.00	  	20050605	  	
	 LIGHT STYLE GARMENT
	  	 THE GAP INC.
	  	HKH 992370	  		  	20050421	  	USD	  	108,297.00	  	20050612	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	206,388.00	  		  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994627	  		  	20050124	  	USD	  	1,465.00	  	20050520	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994641	  		  	20050127	  	USD	  	5,200.00	  	20050520	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994674	  		  	20050218	  	USD	  	24,751.40	  	20050610	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994714	  		  	20050310	  	USD	  	20,304.00	  	20050722	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994724	  		  	20050317	  	USD	  	12,130.00	  	20050729	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994740	  		  	20050407	  	USD	  	4,968.00	  	20050722	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994776	  		  	20050427	  	USD	  	5,460.00	  	20050909	  	
	 NKK KNITWEAR LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994791	  		  	20050504	  	USD	  	34,168.00	  	20050902	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	108,446.40	  		  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 991975	  		  	20050112	  	USD	  	34,505.00	  	20050603	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 991983	  		  	20050112	  	USD	  	650,123.80	  	20050513	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992081	  		  	20050127	  	USD	  	22,100.00	  	20050520	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992089	  		  	20050127	  	USD	  	589,784.96	  	20050527	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992093	  		  	20050127	  	USD	  	839,140.65	  	20050603	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992125	  		  	20050207	  	USD	  	243,288.00	  	20050603	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992038	  		  	20050124	  	USD	  	8,954.06	  	20050520	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992159	  		  	20050218	  	USD	  	78,539.65	  	20050624	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992188	  		  	20050224	  	USD	  	25,130.00	  	20050624	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992189	  		  	20050224	  	USD	  	59,360.00	  	20050715	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992204	  		  	20050224	  	USD	  	582,048.00	  	20050617	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992236	  		  	20050310	  	USD	  	58,889.00	  	20050722	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992244	  		  	20050310	  	USD	  	1,351,742.00	  	20050722	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992268	  		  	20050317	  	USD	  	334,725.00	  	20050809	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992269	  		  	20050317	  	USD	  	103,800.00	  	20050729	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992316	  		  	20050407	  	USD	  	481,450.00	  	20050819	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992317	  		  	20050407	  	USD	  	17,376.00	  	20050729	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992377	  		  	20050421	  	USD	  	617,790.00	  	20050826	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992414	  		  	20050504	  	USD	  	24,180.00	  	20050916	  	
	 NKK KNITWEAR LTD
	  	 THE GAP INC.
	  	HKH 992415	  		  	20050504	  	USD	  	454,350.00	  	20050916	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	6,577,276.12	  		  	
	 OCEAN GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994675	  		  	20050218	  	USD	  	3,055.00	  	20050530	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	3,055.00	  		  	
	 OCEAN GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992090	  		  	20050127	  	USD	  	107,823.17	  	20050530	  	
	 OCEAN GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992126	  		  	20050207	  	USD	  	37,900.00	  	20050530	  	
	 OCEAN GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992131	  		  	20050207	  	USD	  	535,000.00	  	20050530	  	
	 OCEAN GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992160	  		  	20050218	  	USD	  	51,568.00	  	20050704	  	
	 OCEAN GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992162	  		  	20050215	  	USD	  	430,470.00	  	20050704	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,162,761.17	  		  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994642	  		  	20050127	  	USD	  	91,692.00	  	20050610	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994659	  		  	20050207	  	USD	  	17,640.00	  	20050610	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994697	  		  	20050224	  	USD	  	4,425.00	  	20050708	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994699	  		  	20050224	  	USD	  	8,395.20	  	20050624	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994715	  		  	20050310	  	USD	  	11,234.40	  	20050729	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994725	  		  	20050317	  	USD	  	15,297.00	  	20050805	  	
	 PACIFIC JEANS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994726	  		  	20050317	  	USD	  	10,460.00	  	20050527	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	159,143.60	  		  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 991976	  		  	20050112	  	USD	  	30,291.00	  	20050527	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992040	  		  	20050124	  	USD	  	48,694.00	  	20050527	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992041	  		  	20050124	  	USD	  	12,517.12	  	20050527	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992082	  		  	20050127	  	USD	  	222,177.00	  	20050610	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992091	  		  	20050127	  	USD	  	1,000,775.00	  	20050624	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992094	  		  	20050127	  	USD	  	1,256,637.10	  	20050513	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992171	  		  	20050216	  	USD	  	755,786.80	  	20050701	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992190	  		  	20050224	  	USD	  	69,553.00	  	20050708	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992205	  		  	20050224	  	USD	  	1,369,345.00	  	20050715	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992206	  		  	20050222	  	USD	  	1,383,630.00	  	20050715	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992235	  		  	20050310	  	USD	  	147,921.00	  	20050805	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992237	  		  	20050310	  	USD	  	21,750.00	  	20050805	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992245	  		  	20050310	  	USD	  	728,469.00	  	20050729	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992270	  		  	20050317	  	USD	  	74,976.00	  	20050805	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992275	  		  	20050317	  	USD	  	633,822.00	  	20050729	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992287	  		  	20050324	  	USD	  	359,247.28	  	20050805	  	
	 PACIFIC JEANS LTD
	  	 THE GAP INC.
	  	HKH 992289	  		  	20050324	  	USD	  	18,615.00	  	20050624	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	8,134,206.30	  		  	
	 PEE EMPRO EXPORTS PVT LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994768	  		  	20050421	  	USD	  	29,700.00	  	20050618	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	29,700.00	  		  	
	 PEE EMPRO EXPORTS PVT LTD
	  	 THE GAP INC.
	  	HKH 992371	  		  	20050421	  	USD	  	53,256.00	  	20050618	  	
	 PEE EMPRO EXPORTS PVT LTD
	  	 THE GAP INC.
	  	HKH 992378	  		  	20050421	  	USD	  	639,836.00	  	20050624	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	693,092.00	  		  	
	 PENINSULA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994677	  		  	20050218	  	USD	  	3,055.00	  	20050624	  	
	 PENINSULA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994751	  		  	20050413	  	USD	  	3,055.00	  	20050722	  	
	 PENINSULA GARMENTS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994769	  		  	20050421	  	USD	  	7,875.00	  	20050819	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	13,985.00	  		  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992043	  		  	20050124	  	USD	  	120,020.00	  	20050603	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992095	  		  	20050127	  	USD	  	611,957.99	  	20050701	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992127	  		  	20050207	  	USD	  	32,639.16	  	20050527	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992161	  		  	20050218	  	USD	  	40,950.00	  	20050624	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 991858	  		  	20041208	  	USD	  	69,504.00	  	20050429	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992165	  		  	20050218	  	USD	  	12,220.00	  	20050624	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992309	  		  	20050331	  	USD	  	276,315.00	  	20050610	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992372	  		  	20050421	  	USD	  	11,550.00	  	20050819	  	
	 PENINSULA GARMENTS LTD
	  	 THE GAP INC.
	  	HKH 992383	  		  	20050428	  	USD	  	155,400.00	  	20050812	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,330,556.15	  		  	
	 REFAT GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994752	  		  	20050413	  	USD	  	8,576.00	  	20050715	  	
	 REFAT GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994775	  		  	20050427	  	USD	  	23,276.00	  	20050624	  	
	 REFAT GARMENTS LIMITED
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994792	  		  	20050504	  	USD	  	17,162.00	  	20050902	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	49,014.00	  		  	
	 REFAT GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992338	  		  	20050413	  	USD	  	218,400.00	  	20050708	  	
	 REFAT GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992340	  		  	20050413	  	USD	  	16,800.00	  	20050902	  	
	 REFAT GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992416	  		  	20050504	  	USD	  	391,300.68	  	20050923	  	
	 REFAT GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992417	  		  	20050504	  	USD	  	19,034.40	  	20050916	  	
	 REFAT GARMENTS LIMITED
	  	 THE GAP INC.
	  	HKH 992420	  		  	20050504	  	USD	  	41,360.00	  	20050916	  	
	 RICHA GLOBAL
	  	 THE GAP INC.
	  	HKH 992300	  		  	20050330	  	USD	  	10.80	  	20050513	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	686,905.88	  		  	
	 SAJID APPARELS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994643	  		  	20050127	  	USD	  	445.00	  	20050520	  	
	 SAJID APPARELS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994678	  		  	20050218	  	USD	  	5,452.00	  	20050624	  	
	 SAJID APPARELS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994679	  		  	20050218	  	USD	  	31,095.00	  	20050701	  	
	 SAJID APPARELS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994716	  		  	20050310	  	USD	  	10,140.00	  	20050805	  	
	 SAJID APPARELS LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994730	  		  	20050324	  	USD	  	7,942.00	  	20050722	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	55,074.00	  		  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992163	  		  	20050218	  	USD	  	28,739.00	  	20050624	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 991859	  		  	20041208	  	USD	  	36,560.00	  	20050429	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992164	  		  	20050218	  	USD	  	50,550.00	  	20050701	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992166	  		  	20050218	  	USD	  	62,806.56	  	20050617	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	178,655.56	  		  	
	 Processed by HSBC Hong Kong
	  	Total (GAP India)	  		  		  		  		  	67,660,577.93	  		  	
		  	Total	  		  		  		  		  	92,683,195.74	  		  	
	 Under USD125m 3 year facility
	  	Total DC Outstanding: USD92,683,195.74	  		  		  		  		  		  		  	
		  	Total Bill Outstanding: USD32,304,655.05	  		  		  		  		  		  		  	
		  	 Grand Total

USD124,987,850.79
	  		  		  		  		  		  		  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 991977	  		  	20050112	  	USD	  	14,760.00	  	20050527	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992085	  		  	20050127	  	USD	  	81,470.00	  	20050617	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992084	  		  	20050127	  	USD	  	13,290.00	  	20050610	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992096	  		  	20050127	  	USD	  	776,064.80	  	20050624	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992191	  		  	20050223	  	USD	  	144,000.00	  	20050715	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992192	  		  	20050223	  	USD	  	8,550.00	  	20050624	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992194	  		  	20050223	  	USD	  	81,290.00	  	20050715	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992238	  		  	20050310	  	USD	  	257,229.24	  	20050729	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992271	  		  	20050317	  	USD	  	47,580.00	  	20050624	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992272	  		  	20050317	  	USD	  	14,400.00	  	20050701	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992273	  		  	20050317	  	USD	  	45,472.00	  	20050805	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992288	  		  	20050324	  	USD	  	34,027.00	  	20050729	  	
	 SAJID APPARELS LTD
	  	 THE GAP INC.
	  	HKH 992290	  		  	20050324	  	USD	  	344,135.63	  	20050819	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	1,862,268.67	  		  	
	 SHAHI EXPORT HOUSE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994742	  		  	20050407	  	USD	  	91,923.00	  	20050618	  	
	 SHAHI EXPORT HOUSE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994770	  		  	20050421	  	USD	  	41,414.00	  	20050618	  	
	 SHAHI EXPORT HOUSE
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994793	  		  	20050504	  	USD	  	15,970.00	  	20050705	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	149,307.00	  		  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992291	  		  	20050324	  	USD	  	488.56	  	20050430	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992293	  		  	20050324	  	USD	  	1,243,968.20	  	20050531	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992301	  		  	20050330	  	USD	  	212,000.00	  	20050531	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992318	  		  	20050407	  	USD	  	256,140.00	  	20050618	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992322	  		  	20050407	  	USD	  	1,228,732.00	  	20050603	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992339	  		  	20050413	  	USD	  	88,902.00	  	20050607	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992341	  		  	20050413	  	USD	  	1,428,305.00	  	20050624	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992379	  		  	20050421	  	USD	  	861,175.00	  	20050712	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992380	  		  	20050421	  	USD	  	579,327.20	  	20050702	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992418	  		  	20050504	  	USD	  	457,810.00	  	20050712	  	

																	
	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992419	  		  	20050504	  	USD	  	86,875.00	  	20050709	  	
	 SHAHI EXPORT HOUSE
	  	 THE GAP INC.
	  	HKH 992427	  		  	20050504	  	USD	  	766,030.00	  	20050712	  	
		  	 THE GAP INC. Total
	  		  		  		  		  	7,209,752.96	  		  	9,509,294.00
	 Z3 DRESSES LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994660	  		  	20050207	  	USD	  	7,130.00	  	20050527	  	
	 Z3 DRESSES LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994680	  		  	20050218	  	USD	  	4,108.00	  	20050527	  	
	 Z3 DRESSES LTD
	  	 GPS CONSUMER DIRECT, INC.
	  	HKH 994700	  		  	20050224	  	USD	  	10,935.00	  	20050715	  	
		  	 GPS CONSUMER DIRECT, INC. Total
	  		  		  		  		  	22,173.00	  		  	
	 Z3 DRESSES LTD
	  	 THE GAP INC.
	  	HKH 992167	  		  	20050218	  	USD	  	79,854.32	  	20050520	  	
	 Z3 DRESSES LTD
	  	 THE GAP INC.
	  	HKH 992168	  		  	20050218	  	USD	  	9,867.00	  	20050527	  	
	 Z3 DRESSES LTD
	  	 THE GAP INC.
	  	HKH 992195	  		  	20050224	  	USD	  	162,199.05	  	20050708	  	
	 Z3 DRESSES LTD
	  	 THE GAP INC.
	  	HKH 992196	  		  	20050224	  	USD	  	13,872.00	  	20050715	  	
	 THE GAP INC. Total
	  		  		  		  		  		  	265,792.37	  		  	
	 Processed by HSBC Hong Kong
	  	Total (GAP India)	  		  		  		  		  	9,509,294.00	  		  	
	 Under USD100m 364 day facility
	  		  	Grand Total	  		  		  	USD	  	9,509,294.00	  		  	

 Schedule III 

LC SUBSIDIARIES 
  

	1.	Banana Republic, LLC 

  

	2.	Gap (Canada) Inc. 

  

	3.	Gap (France) S.A.S. 

  

	4.	Gap (Japan) K.K. 

  

	5.	Gap (Netherlands) B.V. 

  

	6.	GPS Consumer Direct, Inc. 

  

	7.	GPS (Great Britain) Limited 

  

	8.	Old Navy (Canada) Inc. 

  

	9.	Forth & Towne LLC 

 Schedule IV 

PLANS 
 None 

 Schedule V 

ERISA MATTERS 
 None 

 Schedule VI 

ENVIRONMENTAL MATTERS 
 None

 Schedule VII 

EXISTING DEBT 
  

							
	 Borrower
	  	Amount	  	 Type of Debt
	  	Date Expires
				
	 Gap (Japan) K.K.
	  	USD 50,000,000	  	6.25% 10-Year Notes	  	March 1, 2009
	 Gap (France) SAS
	  	Euro 2,145,619	  	Bank Guarantee for lease payments in France Societe Generale	  	Evergreen
	 GIS Singapore
	  	SGD 200,000	  	Bank Guarantee for lease payments in Citibank	  	Evergreen
	 GIS Holdings Ltd.
	  	HKD 5,000,000	  	Bank Guarantee for lease payments in Citibank	  	Evergreen
	 GIS Dubai
	  	USD 164,000	  	Continuing Guarantee for operating expenses in HSBC	  	Evergreen

 Schedule VIII 

EXISTING LIENS 
 Landlord
Liens: 
 Lease Agreement, between Metropolitan Life Insurance Company, on behalf of the Tower Fund, a commingled separate account, as
Landlord and The Gap, Inc., as Tenant for Gateway Business Center, Building #1, City of Grove City, Ohio, dated January 29, 1998 (the Ohio Catalog Center) 

Amended and Restated Industrial Lease Agreement, between Industrial Developments International, Inc., as Landlord and The Gap, Inc., as Tenant for 1200
Worldwide Blvd., Hebron, Kentucky, dated March 10, 1998 (the Gap Outlet Distribution Center) 
 Industrial Lease Agreement, between
Industrial Developments International, Inc., as Landlord, and The Gap, Inc., as Tenant for 1405 Worldwide Blvd., Hebron, Kentucky, dated June 15, 2000 (the Old Navy Outlet Distribution Center) 

 Exhibit A-1 to the 

Letter of Credit Agreement 

[FORM OF OPINION OF COUNSEL TO THE ACCOUNT PARTIES] 

1. The California Subsidiary is authorized to exercise all its powers, rights and privileges and is in good legal standing under the laws
of the State of California, and each of the Company and the Delaware Subsidiaries is validly existing and in good standing under the Applicable Law of the State of Delaware. 

2. Each Loan Party has the power and authority to execute, deliver and perform all of its obligations under each of the Letter of Credit
Agreements to which it is a party, and the execution and delivery of each of the Letter of Credit Agreements by each Loan Party which is a party thereto and the consummation by each Loan Party of the transactions contemplated thereby have been duly
authorized by all requisite action on the part of each Loan Party. Each of the Letter of Credit Agreements has been duly executed and delivered by each Loan Party, which is a party thereto. 

3. The execution and delivery by each Loan Party of each of the Letter of Credit Agreements to which it is a party and the performance by
each Loan Party of its obligations under each of the Letter of Credit Agreements, each in accordance with its terms, does not (i) conflict with the Constitutive Documents of such Loan Party, (ii) constitute a violation of, or a default under, any
Applicable Contracts or (iii) cause the creation of any security interest or lien upon any of the property of such Loan Party pursuant to any Applicable Contracts to which it is a party. I call to your attention that certain of the Applicable
Contracts are governed by laws other than those as to which I express my opinion. I express no opinion as to the effect of such other laws on the opinions herein stated. 

4. Neither the execution, delivery nor performance by any Loan Party of the Letter of Credit Agreements to which it is a party will
contravene any provision of any Applicable Law. 
 5. No Governmental Approval, which has not been obtained or taken and is not
in full force and effect, is required to authorize, or is required in connection with, the execution, delivery or performance of any of the Letter of Credit Agreements by any Loan Party. 

6. There is no action, suit or proceeding pending or, to my knowledge, overtly threatened against any Loan Party in or before any court,
Governmental Authority or arbitrator, which has a reasonable probability (taking into account the exhaustion of all appeals and the assertion of all defenses) of having a Material Adverse Effect or which purports to affect the legality, validity or
enforceability of any Loan Document. 

 Exhibit A-2 to the 

Letter of Credit Agreement 

[FORM OF CORPORATE OPINION OF SPECIAL NEW YORK COUNSEL TO THE 

ACCOUNT PARTIES] 

1. Each of the Letter of Credit Agreements constitutes the legal, valid and binding obligation of each Loan Party, enforceable against
such Loan Party in accordance with its terms. 
 2. The execution, delivery or performance by each Loan Party of the Letter of
Credit Agreements will not contravene any provision of any Applicable Law of the State of New York or any Applicable Law of the United States of America. 

3. No Governmental Approval, which has not been obtained or made, is required to be obtained or made by a Loan Party in connection with
the execution or delivery of any of the Letter of Credit Agreements by any Loan Party or the enforceability of the Letter of Credit Agreements against any Loan Party. 

4. None of the Loan Parties is and, solely after giving effect to the transactions contemplated by the Letter of Credit Agreements, will
be an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

 Exhibit B to the 

Letter of Credit Agreement 

FORM OF COMPLIANCE CERTIFICATE 
  

 Exh B - 1 

 COMPLIANCE CERTIFICATE 

THE UNDERSIGNED HEREBY CERTIFIES THAT: 

(1) I am the duly elected Senior Vice President and Treasurer of The Gap, Inc., a Delaware corporation (the “Company”);

 (2) I have reviewed the terms of that certain 3-Year Letter of Credit Agreement dated as of May 6, 2005, as
amended, supplemented or otherwise modified to the date hereof (said Letter of Credit Agreement, as so amended, supplemented or otherwise modified, being the “Credit Agreement”, the terms defined therein and not otherwise defined in
this Certificate (including Attachment No. 1 annexed hereto and made a part hereof) being used in this Certificate as therein defined), by and among the Company, certain subsidiaries thereof, and HSBC Bank USA, National Association, as LC
Issuer, and the terms of the other LC Facility Documents, and I have made, or have caused to be made under my supervision, a review in reasonable detail of the transactions and condition of Company and its Subsidiaries during the accounting period
covered by the attached financial statements; and 
 (3) The examination described in paragraph (2) above did not
disclose, and I have no knowledge of, the existence of any condition or event which constitutes an Event of Default or Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this
Certificate, except as set forth below. 
 Set forth below are all exceptions to paragraph (3) above listing, in detail,
the nature of the condition or event, the period during which it has existed and the action which Company has taken, is taking or proposes to take with respect to each such condition or event: 

[        ] 

 

 1 

 The foregoing certifications, together with the computations set forth in Attachment
No. 1 annexed hereto and made a part hereof and the financial statements delivered with this Certificate in support hereof, are made and delivered this
                     day of
                    , 200   pursuant to Section 6.04(c) of the Credit Agreement. 

 

			
	THE GAP, INC.
		
	By	 	  

		 	Name:
		 	Title:

  

 Exh. C Page 2 

 ATTACHMENT NO. 1 

TO COMPLIANCE CERTIFICATE 

This Attachment No. 1 is attached to and made a part of a Compliance Certificate dated as of
                    , 200   and pertains to the period from
                    , 200   to
                    , 200  . Subsection references herein relate to subsections of the Credit Agreement. 

 

								
	A.	  	Leverage Ratio	  		
		  	( for the four-Fiscal Quarter period ending
                    , 200  )	  		
				
		  	1.	  	Funded Debt	  	$	            
				
		  	2.	  	Consolidated Net Income	  	$	            
				
		  	3.	  	Consolidated Interest Expense	  	$	            
				
		  	4.	  	Provisions for Taxes based on Income	  	$	            
				
		  	5.	  	Total Depreciation Expense	  	$	            
				
		  	6.	  	Total Amortization Expense	  	$	            
				
		  	7.	  	Consolidated EBITDA (2+3+4+5+6)	  	$	            
				
		  	8.	  	Leverage Ratio (1:7)	  	 	         :1.00
				
		  	9.	  	Minimum ratio required under § 6.03	  	 	2.25 : 1.00
			
	B.	  	Fixed Charge Coverage Ratio	  		
		  	(for the four-Fiscal Quarter period ending
                    , 200  )	  		
				
		  	1.	  	Consolidated Net Income	  	$	            
				
		  	2.	  	Consolidated Interest Expense	  	$	            
				
		  	3.	  	Provisions for Taxes based on Income	  	$	            
				
		  	4.	  	Total Depreciation Expense	  	$	            
				
		  	5.	  	Total Amortization Expense	  	$	            
				
		  	6.	  	Consolidated EBITDA (1+2+3+4+5)	  	$	            
				
		  	7.	  	Lease Expense	  	$	            
				
		  	8.	  	Consolidated Interest Expense	  	$	            
				
		  	9.	  	Fixed Charge Coverage Ratio (6 + 7) : (7+8))	  	 	         :1.00
				
		  	10.	  	Minimum ratio required under § 6.03	  	 	2.00 :1.00

  

 Attachment No. 1 to Compliance Certificate - Page 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]