Document:

Execution Version

 

 

$75,000,000

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

Dated as of August 30, 2013

 

among

 

Francesca’s
Collections, inc., as Borrower

 

Francesca’s
LLC, as Parent

 

THE OTHER GUARANTORS PARTY HERETO,

as Guarantors

 

THE LENDERS PARTY HERETO

 

and

Royal
Bank of Canada,

 

as Administrative Agent, Collateral Agent,

Joint Lead Arranger
and Co-Bookrunner

 

and

 

KeyBank
National Association,

 

as Syndication Agent,

Joint Lead Arranger and Co-Bookrunner

 

 

    	 

    	 

    

 

Table
of Contents

 

	 	 	Page
	 	 
	ARTICLE I DEFINITIONS, INTERPRETATION AND ACCOUNTING TERMS	1
	 	 
	Section 1.1	Defined Terms	1
	Section 1.2	UCC Terms	36
	Section 1.3	Accounting Terms and Principles	36
	Section 1.4	Payments	37
	Section 1.5	Interpretation	37
	 	 
	ARTICLE II THE FACILITY	37
	 	 
	Section 2.1	The Commitments	37
	Section 2.2	Borrowing Procedures	38
	Section 2.3	[Reserved]	39
	Section 2.4	Letters of Credit	39
	Section 2.5	Reduction and Termination of the Commitments	43
	Section 2.6	Repayment of Obligations	43
	Section 2.7	Optional Prepayments	43
	Section 2.8	[Reserved]	43
	Section 2.9	Interest	43
	Section 2.10	Conversion and Continuation Options	44
	Section 2.11	Fees	45
	Section 2.12	Application of Payments	45
	Section 2.13	Payments and Computations	46
	Section 2.14	Evidence of Debt	48
	Section 2.15	Suspension of Eurodollar Rate Option	49
	Section 2.16	Breakage Costs; Increased Costs; Capital Requirements	49
	Section 2.17	Taxes	51
	Section 2.18	Substitution of Lenders	54
	Section 2.19	Defaulting Lenders	54
	Section 2.20	Increase of Commitments and Incremental Term Loans	56
	 	 
	ARTICLE III CONDITIONS TO EFFECTIVENESS AND TO LOANS AND LETTERS OF CREDIT	58
	 	 
	Section 3.1	Conditions to Effectiveness	58
	Section 3.2	Conditions Precedent to Each Loan and Letter of Credit	59
	Section 3.3	Defaulting Lenders	59
	Section 3.4	Determinations of Initial Borrowing Conditions	59
	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES	60
	 	 
	Section 4.1	Corporate Existence; Compliance with Law	60
	Section 4.2	Loans	60
	Section 4.3	Subsidiaries	61
	Section 4.4	Financial Statements	61
	Section 4.5	Material Adverse Effect	61
	Section 4.6	Solvency	62
	Section 4.7	Litigation	62
	Section 4.8	Taxes	62

 

    	i

    	 

    

 

	Section 4.9	Margin Regulations	62
	Section 4.10	No Burdensome Obligations; No Defaults	62
	Section 4.11	Investment Company Act	63
	Section 4.12	Labor Matters	63
	Section 4.13	ERISA	63
	Section 4.14	Environmental Matters	63
	Section 4.15	Intellectual Property	64
	Section 4.16	Title; Real Property	64
	Section 4.17	Full Disclosure	65
	Section 4.18	Permits	65
	Section 4.19	Anti-Terrorism Laws	65
	Section 4.20	Insurance	65
	 	 
	ARTICLE V FINANCIAL COVENANTS	65
	 	 
	Section 5.1	Maximum Consolidated Total Lease Adjusted Leverage Ratio	65
	Section 5.2	Maximum Capital Expenditures	66
	 	 
	ARTICLE VI REPORTING COVENANTS	66
	 	 
	Section 6.1	Financial Statements	66
	Section 6.2	Other Events	68
	Section 6.3	Copies of Notices and Reports	68
	Section 6.4	[Reserved]	69
	Section 6.5	ERISA Matters	69
	Section 6.6	Environmental Matters	69
	Section 6.7	Labor Matters	69
	Section 6.8	Other Information	70
	 	 
	ARTICLE VII AFFIRMATIVE COVENANTS	70
	 	 
	Section 7.1	Maintenance of Corporate Existence	70
	Section 7.2	Compliance with Laws, Etc	70
	Section 7.3	Payment of Obligations	71
	Section 7.4	Maintenance of Property	71
	Section 7.5	Maintenance of Insurance	71
	Section 7.6	Keeping of Books	71
	Section 7.7	Access to Books and Property	72
	Section 7.8	Environmental	72
	Section 7.9	Use of Proceeds	72
	Section 7.10	Additional Collateral and Guaranties	73
	 	 
	ARTICLE VIII NEGATIVE COVENANTS	74
	 	 
	Section 8.1	Indebtedness	74
	Section 8.2	Liens	77
	Section 8.3	Investments	78
	Section 8.4	Asset Sales	80
	Section 8.5	Restricted Payments	81
	Section 8.6	Payment of Subordinated Debt and Certain Other Debt	82
	Section 8.7	Fundamental Changes	83
	Section 8.8	Change in Nature of Business	83
	Section 8.9	Transactions with Affiliates	83

 

    	ii

    	 

    

 

	Section 8.10	Third-Party Restrictions on Indebtedness, Liens, Investments or Restricted
    Payments	86
	Section 8.11	Modification of Certain Documents	86
	Section 8.12	Accounting Changes; Fiscal Year	86
	Section 8.13	Margin Regulations	86
	Section 8.14	Compliance with ERISA	86
	Section 8.15	Hazardous Materials	87
	Section 8.16	Material Contracts	87
	Section 8.17	Anti-Terrorism Laws; Anti-Money Laundering; Embargoed Persons	87
	 	 
	ARTICLE IX EVENTS OF DEFAULT	87
	 	 
	Section 9.1	Definition	87
	Section 9.2	Remedies	89
	Section 9.3	[Reserved]	89
	Section 9.4	Actions in Respect of Letters of Credit	89
	 	 
	ARTICLE X THE AGENTS	89
	 	 
	Section 10.1	Appointment and Authority	89
	Section 10.2	Agents Individually	90
	Section 10.3	Duties of the Agents; Exculpatory Provisions	91
	Section 10.4	Reliance by Agents	92
	Section 10.5	Delegation of Duties	92
	Section 10.6	Notice of Default	92
	Section 10.7	Resignation of Agents	93
	Section 10.8	Resignation of L/C Issuer	93
	Section 10.9	Non-Reliance on Agents and Other Lender Parties	93
	Section 10.10	Release of Collateral or Guarantors	94
	Section 10.11	Additional Secured Parties	95
	Section 10.12	Expenses; Indemnities	95
	Section 10.13	No Other Duties, etc	96
	Section 10.14	Withholding Tax	96
	Section 10.15	Removal of Agents	97
	 	 
	ARTICLE XI MISCELLANEOUS	97
	 	 
	Section 11.1	Amendments, Waivers, Etc	97
	Section 11.2	Assignments and Participations; Binding Effect	99
	Section 11.3	Costs and Expenses	102
	Section 11.4	Indemnities	103
	Section 11.5	Survival	104
	Section 11.6	Limitation of Liability for Certain Damages	104

	Section 11.7	Lender-Creditor Relationship; No Fiduciary Duty	104
	Section 11.8	Right of Setoff	105
	Section 11.9	Sharing of Payments, Etc	105
	Section 11.10	Marshaling; Payments Set Aside	105
	Section 11.11	Notices	106
	Section 11.12	Posting of Approved Electronic Communications	108
	Section 11.13	Confidentiality	109
	Section 11.14	Treatment of Information	110
	Section 11.15	Governing Law	111
	Section 11.16	Jurisdiction	111

 

    	iii

    	 

    

 

	Section 11.17	WAIVER OF JURY TRIAL	112
	Section 11.18	Severability	112
	Section 11.19	Execution in Counterparts	112
	Section 11.20	Entire Agreement	112
	Section 11.21	Use of Name	112
	Section 11.22	Patriot Act Notice	113
	Section 11.23	Borrower Ratification of Loan Documents	113
	Section 11.24	Guarantor Ratification of Loan Documents	113

 

    	iv

    	 

    

 

	SCHEDULES	 	 
	 	 	 
	Schedule I	–	Commitments
	Schedule 4.2	–	Consents
	Schedule 4.3	–	Ownership of Borrower and Subsidiaries
	Schedule 4.12	–	Labor Matters
	Schedule 4.13	–	List of Plans
	Schedule 4.14	–	Environmental Matters
	Schedule 4.16	–	Real Property
	Schedule 4.20	–	Insurance
	Schedule 8.1	–	Existing Indebtedness
	Schedule 8.2	–	Existing Liens
	Schedule 8.3	–	Existing Investments
	Schedule 8.10	–	Existing Third-Party Restrictions
	 	 	 
	EXHIBITS	 	 
	 	 	 
	Exhibit 1.1(1)	–	Form of Assignment
	Exhibit 1.1(2)	–	Form of Compliance Certificate
	Exhibit 1.1(3)	–	Form of Guaranty and Security Agreement
	Exhibit 1.1(4)	–	Form of Perfection Certificate
	Exhibit 2.2(a)	–	Form of Notice of Borrowing
	Exhibit 2.4(b)	–	Form of L/C Request
	Exhibit 2.10(b)	–	Form of Notice of Conversion or Continuation
	Exhibit 2.14(e)	–	Form of Note
	Exhibit 2.17(f)	–	Form of United States Tax Compliance Certificate

 

    	v

    	 

    

 

This SECOND AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of August 30, 2013, is entered into among Francesca’s Collections, inc.,
a Texas corporation (the “Borrower”), Francesca’s llc, a
Delaware limited liability company (“Parent”), the other Guarantors (as defined below), the Lenders (as defined
below), Royal Bank of Canada, as administrative agent (“Royal Bank”,
in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”) and as
collateral agent (in such capacity, and together with its successors and permitted assigns, the “Collateral Agent”)
for the Secured Parties, KEYBANK NATIONAL ASSOCIATION, as syndication agent (“KeyBank”, in such capacity the
“Syndication Agent”) and as L/C Issuer (in such capacity, and together with its successors and permitted assigns,
the “L/C Issuer”), ) and Royal Bank and KeyBank, as joint lead arrangers and co-bookrunners (in such capacities,
“Arrangers”).

 

WHEREAS, the Borrower, certain affiliates
thereof, the lenders party thereto (the “Existing Lenders”), the Administrative Agent and the other financial
institutions named as agents and arrangers therein have entered into that certain Amended and Restated Credit Agreement dated as
of July 27, 2011 (the “Original Credit Agreement”); and

 

WHEREAS, the Borrower and such affiliates
desire to amend and restate the Original Credit Agreement; and

 

WHEREAS, the parties hereto intend that (a)
the Obligations (as defined in the Original Credit Agreement) which remain unpaid and outstanding as of the date hereof shall continue
to exist under this Agreement on the terms set forth herein and (b) the Collateral (as defined in the Original Credit Agreement)
shall continue to secure, support and otherwise benefit the Obligations (as defined herein) of the Loan Parties under this Agreement
and the other Loan Documents.

 

NOW, THEREFORE, the parties
hereto agree as follows:

 

ARTICLE I

  

DEFINITIONS, INTERPRETATION
AND ACCOUNTING TERMS

 

Section
1.1        Defined Terms. As used in this Agreement, the following terms have the
following meanings:

 

“Administrative Agent”
has the meaning specified in the preamble to this Agreement.

 

“Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

“Affected Lender” has
the meaning specified in Section 2.18(a).

 

“Affiliate” means, with
respect to any Person, each officer, director, general partner or joint-venturer of such Person and any other Person that directly
or indirectly controls, is controlled by, or is under common control with, such Person; provided, that no Secured Party
shall be an Affiliate of the Borrower. For purpose of this definition, “control” means the possession of either (a)
the power to vote, or the beneficial ownership of, 10% or more of the Voting Stock of such Person or (b) the power to direct or
cause the direction of the management and policies of such Person, whether by contract or otherwise.

 

“Agency Fee Letter” means
any fee letter evidencing the obligations to pay any agency fee payable pursuant to Section 2.11(c).

 

    	1

    	 

    

 

“Agents” means the Administrative
Agent, the Collateral Agent and the Syndication Agent.

 

“Agent’s Group”
has the meaning specified in Section 10.2(b).

 

“Agreement” means this
Second Amended and Restated Credit Agreement.

 

“Amendment Effective Date”
means August 30, 2013

 

“Anti-Terrorism Laws”
has the meaning specified in Section 4.19.

 

“Applicable Margin” means,
with respect to Loans and the Unused Commitment Fee, the percentage set forth below:

 

	Level	 	Total Secured

Leverage Ratio	 	Base Rate

Loans	 	Eurodollar Rate 

Loans	 	Unused

Commitment Fee
	I	 	< 1.50x	 	0.75%	 	1.75%	 	0.25%
	II	 	> 1.50x < 2.50x	 	1.00%	 	2.00%	 	0.25%
	III	 	> 2.50x	 	1.25%	 	2.25%	 	0.375%

 

Any increase or decrease in the
Applicable Margin resulting from a change in Total Secured Leverage Ratio shall become effective as of the first
Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.1(c); provided
that, on and after the Amendment Effective Date and until delivery of the first Compliance Certificate delivered after
the Amendment Effective Date pursuant to Section 6.1(c), Level I shall apply. If a
Compliance Certificate is not delivered to the Administrative Agent when due, then Level III shall apply as of
the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall
continue to apply until the first Business Day immediately following the date a Compliance Certificate is delivered to the
Agent.

 

“Approved Electronic Communication”
means each Communication that any Loan Party is obligated to, or otherwise chooses to, provide to the Administrative Agent pursuant
to any Loan Document or the transactions contemplated therein, including any financial statement, financial or other report, notice,
request, certificate or other information; provided, however, that, solely with respect to delivery of any such Communication by
any Loan Party to the Administrative Agent and without limiting or otherwise affecting either the Administrative Agent’s
right to effect delivery of such Communication by posting such Communication to the Approved Electronic Platform or the protections
afforded hereby to the Administrative Agent in connection with any such posting, “Approved Electronic Communication”
shall exclude (i) any notice of borrowing, letter of credit request, notice of conversion or continuation, and any other notice,
demand, communication, information, document and other material relating to a request for a new, or a conversion of an existing,
Borrowing, (ii) any notice pursuant to Section 2.7 and any other notice relating to the payment of any principal or
other amount due under any Loan Document prior to the scheduled date therefor, (iii) all notices of any Default or Event of Default
and (iv) any notice, demand, communication, information, document and other material required to be delivered to satisfy any of
the conditions set forth in Article III or any other condition to any Borrowing or other extension of credit hereunder or
any condition precedent to the effectiveness of this Agreement.

 

“Approved Electronic Platform”
has the meaning specified in Section 11.12(a).

 

“Approved Fund” means,
with respect to any Lender, any Person (other than a natural Person) that (a) is or will be engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business, and (b) is
advised or managed by (i) such Lender, (ii) any Affiliate of such Lender or (iii) any Person (other than an individual) or any
Affiliate of any Person (other than an individual) that administers or manages such Lender.

 

    	2

    	 

    

 

“Arrangers” has the meaning
specified in the preamble to this Agreement.

 

“Assignment” means an
assignment agreement entered into by a Lender, as assignor, and any Person, as assignee, pursuant to the terms and provisions of
Section 11.2 (with the consent of any party whose consent is required by Section 11.2), and accepted by
the Administrative Agent, in substantially the form of Exhibit 1.1(1), or any other form approved by the Administrative
Agent.

 

“Available Investment Basket”
means, on any date of determination an amount equal to: (a) $150,000,000; plus (b) additional cash on hand of the Borrower
(in excess of the amount of the Available Investment Basket otherwise available pursuant to this definition without giving effect
to this clause (b)) at the time of any applicable usage of the Available Investment Basket; provided that the proceeds
of Borrowings under the Facility shall not constitute “cash on hand” for purposes of this clause (b); minus
(c) the aggregate amount of all Investments made after the Amendment Effective Date by applying a portion of the Available Investment
Basket pursuant to clause (d) of Section 8.3; minus (d) the aggregate amount of all Investments made after
the Amendment Effective Date by applying a portion of the Available Investment Basket pursuant to clause (p) of Section
8.3; minus (e) the aggregate amount of all dividends made after the Amendment Effective Date by applying a portion of
the Available Investment Basket pursuant to clause (c) of Section 8.5; minus (f) the aggregate amount of all
dividends made after the Amendment Effective Date by applying a portion of the Available Investment Basket pursuant to clause
(e) of Section 8.5; provided that if the proceeds of Borrowings under the Facility are used directly or indirectly
to fund any usage of the Available Investment Basket, then immediately after such usage, the Borrower shall have at least $25,000,000
of availability under the Facility.

 

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

 

(a) the Prime Rate;

 

(b) 1⁄2 of 1% per annum
above the Federal Funds Rate; or

 

(c) the rate per annum equal to the rate
determined by the Administrative Agent to be the offered rate that appears on the Reuters Screen LIBOR01 (or any successor thereto)
that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars for an interest period of
one month as in effect on such day plus 1.00%.

 

“Base Rate Loan” means
any Loan that bears interest based on the Base Rate.

 

“Benefit Plan” means
any employee pension benefit plan as defined in Section 3(2) of ERISA) to which any Group Member incurs or otherwise has any
obligation or liability, contingent or otherwise.

 

“Borrower” has the meaning
specified in the preamble to this Agreement.

 

“Borrowing” means a borrowing
consisting of Loans (other than Loans deemed made pursuant to Section 2.4) on the same day by the Lenders according
to their respective Commitments.

 

“Business” means any
business or business activity conducted by the Borrower and any Subsidiary on the Closing Date and any business or business activities
incidental or related thereto, or any business or activity that is reasonably similar thereto or a reasonable extension, development
or expansion thereof or ancillary thereto.

 

    	3

    	 

    

 

“Business Day” means
any day other than a Saturday, Sunday or other day on which commercial banks are authorized or required to close under the Laws
of, or are in fact closed in, the province or state where the Administrative Agent’s Office is located and in the State of
New York; provided that if such day relates to any interest rate settings as to a Eurodollar Rate Loan, any fundings, disbursements,
settlements and payments in respect of any such Eurodollar Rate Loan, or any other dealings in Dollars to be carried out pursuant
to this Agreement in respect of any such Eurodollar Rate Loan, Business Day also means any such day on which dealings in deposits
in Dollars are conducted by and between banks in the London interbank market.

 

“Capital Expenditure Limitation”
means an annual cap of $30,000,000.

 

“Capital Expenditures”
means, for any Person for any period, the aggregate of all expenditures, whether or not made through the incurrence of Indebtedness,
by such Person and its Subsidiaries during such period for the acquisition, leasing (pursuant to a Capital Lease), construction,
replacement, repair, substitution or improvement of fixed or capital assets or additions to equipment, in each case required to
be capitalized under GAAP on a Consolidated balance sheet of such Person, excluding:

 

(a)        interest capitalized during such period;

 

(b)        any expenditure to the extent, for
purpose of the definition of Permitted Acquisition, such expenditure is part of the aggregate amounts payable in connection with,
or other consideration for, any Permitted Acquisition consummated during or prior to such period;

 

(c)        [reserved];

 

(d)        expenditures of proceeds of insurance
settlements, condemnation awards and other settlements in respect of lost, destroyed, damaged or condemned assets, equipment or
other property, to the extent such expenditures are made to replace or repair such lost, destroyed, damaged or condemned assets,
equipment or other property or otherwise to acquire, maintain, develop, construct, improve, upgrade or repair assets or properties
useful in the business of the Borrower and the Subsidiaries within 12 months of receipt of such proceeds;

 

(e)        expenditures accounted for as capital
expenditures of such Person and that actually are paid for by a third party (excluding Parent, the Borrower or any Subsidiary thereof)
and for which neither Parent, the Borrower nor any Subsidiary thereof has provided or is required to provide or incur, directly
or indirectly, any consideration or obligation to such third party or any other Person (whether before, during or after such period),
and without duplication thereof, expenditures funded through tenants’ improvement allowances;

 

(f)        the book value of any asset owned by
such Person prior to or during such period to the extent that such book value would otherwise be included as a Capital Expenditure
during such period as a result of such Person reusing or beginning to reuse such asset during such period without a corresponding
expenditure actually having been made in such period; provided, that (i) any expenditure necessary in order to permit such
asset to be reused shall be included as a Capital Expenditure during the period that such expenditure actually is made, and (ii)
such book value shall have been included as a Capital Expenditure when such asset was originally acquired;

 

    	4

    	 

    

 

(g)        the purchase price of equipment purchased
during such period to the extent the consideration therefor consists of any combination of (i) used, obsolete, worn out or surplus
equipment traded in at the time of such purchase and (ii) the proceeds of a sale of used, obsolete, worn out or surplus equipment,
in each case, in the ordinary course of business;

 

(h)        [reserved]; and

 

(i)        expenditures to the extent they are
financed with the proceeds of an issuance of Junior Capital permitted by Section 8.1 not later than 120 days after
the receipt of such proceeds by Parent or the Borrower.

 

“Capital Lease” means,
with respect to any Person, any lease of, or other arrangement conveying the right to use, any property (whether real, personal
or mixed) by such Person as lessee that has been or is required to be accounted for as a capital lease on a balance sheet of such
Person prepared in accordance with GAAP; provided, however, that any lease of a type that would be classified as an operating
lease on the date of this Agreement prior to the consummation of the transactions contemplated hereby shall be deemed not to be
a Capital Lease notwithstanding any subsequent change in GAAP.

 

“Capitalized Lease Obligations”
means, at any time, with respect to any Capital Lease, the amount of all obligations of such Person that is capitalized on a balance
sheet of such Person prepared in accordance with GAAP.

 

“Cash Collateral Account”
means a deposit account (other than deposit accounts maintained in the ordinary course of business solely for funding (w) 401(k)
and other retirement plans and employee benefits, including rabbi trusts for deferred compensation, (x) payroll, (y) health
care benefits, and (z) escrow arrangements) or securities account in the name of the Borrower and under the sole control (as defined
in the applicable UCC) of the Collateral Agent and (a) in the case of a deposit account, from which the Borrower may not make withdrawals
except as permitted by the Collateral Agent and (b) in the case of a securities account, with respect to which the Collateral Agent
shall be the entitlement holder and the only Person authorized to give entitlement orders with respect thereto.

 

“Cash Collateralize”
means, in respect of an obligation, provide and pledge (as a first priority perfected security interest) cash collateral in Dollars,
at a location and pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent (and “Cash
Collateralization” has a corresponding meaning).

 

“Cash Equivalents” means
(a) any readily-marketable securities (i) issued by, or directly, unconditionally and fully guaranteed or insured by the United
States federal government or (ii) issued by any agency of the United States federal government the obligations of which are fully
backed by the full faith and credit of the United States federal government, (b) any readily-marketable direct obligations issued
by any other agency of the United States federal government, any state of the United States or any political subdivision of any
such state or any public instrumentality thereof, in each case having a rating of at least “A-1” from S&P or at
least “P-1” from Moody’s, (c) any commercial paper rated at least “A-1” by S&P or “P-1”
by Moody’s and issued by any Person organized under the laws of any state of the United States, (d) any Dollar-denominated
time deposit, insured certificate of deposit, overnight bank deposit or bankers’ acceptance issued or accepted by (i) any
Lender or (ii) any commercial bank that is (A) organized under the laws of the United States, any state thereof or the District
of Columbia, (B) “adequately capitalized” (as defined in the regulations of its primary federal banking regulators)
and (C) has Tier 1 capital (as defined in such regulations) in excess of $250,000,000, (e) shares of any United States money market
fund that (i) has substantially all of its assets invested continuously in the types of investments referred to in clause (a),
(b), (c) or (d) above with maturities as set forth in the proviso below, (ii) has net assets in excess of
$500,000,000 and (iii) has obtained from either S&P or Moody’s the highest rating obtainable for money market funds in
the United States, and (f) repurchase obligations with a term of not more than 180 days for underlying securities of the types
described in clause (a) above entered into with a bank meeting the qualifications described in clause (d)(ii) above;
provided, that the maturities of all obligations specified in any of (x) clauses (a) and (b) above shall not
exceed two years, and (y)  clauses (c) and (d) above shall not exceed 365 days.

 

    	5

    	 

    

 

“Cash Management Bank”
means any Person that, at the time it enters into a Secured Cash Management Agreement, is a Lender or an Affiliate of a Lender,
in its capacity as a party to such Secured Cash Management Agreement.

 

“CERCLA” means the United
States Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. §§ 9601 et seq.).

 

“Change of Control” means
the occurrence of any of the following:

 

(a)        any
person other than the Management Group shall become, directly or indirectly, the legal or beneficial owner of, or shall have acquired,
directly or indirectly pursuant to any Contractual Obligation or otherwise, control over or control over the voting rights of,
at least the greater of (A) 35% of the ordinary voting power represented by the issued and outstanding Voting Stock of Holdings
on a fully diluted basis, or (B) a percentage in excess of the percentage of the ordinary voting power represented by the issued
and outstanding Voting Stock of Holdings of which the Management Group are, directly or indirectly, the beneficial owners, in each
case, on a fully diluted basis; or

 

(b)        continuing
directors shall cease for any reason other than death or disability to constitute a majority of the members of the board of directors
of Holdings then in office;

 

(c)        Holdings shall cease to own and control
legally and beneficially all of the economic and voting rights associated with all classes of the outstanding Stock and Stock Equivalents
of Parent and the Borrower; or

 

(d)        a “change of control”
occurs under any Indebtedness having a principal amount of $3.0 million or more (as defined in the agreement governing such Indebtedness).

 

For the purposes of this definition, the
following terms shall have the following meanings, notwithstanding any other definition for any such term in any other provisions
of this Agreement: (x) “person” means any “person” as such term is used in the United States Securities
Exchange Act of 1934, as amended, including any partnership, limited partnership, syndicate or group of persons that is deemed
to be a “person” for purposes of Sections 13(d) and 14(d)(2) of such Securities Exchange Act; (y) “beneficial
owner” means any “beneficial owner” under and as defined in Rules 13d-3 and 13d-5 of the United States Securities
and Exchange Commission under such Securities Exchange Act; and (z) “continuing director” means, at any date
of determination, each individual member of the board of directors of Parent who (i) has been a member of such board in the period
of twelve successive calendar months last ended prior to such date or (ii) whose nomination for election by the stockholders of
Parent was approved by a vote of at least a majority of the directors who were continuing directors at the time of such nomination.

 

“Closing Date” means
July 27, 2011.

 

“Code” means the United
States Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and published administrative
guidance issued thereunder.

 

    	6

    	 

    

 

“Collateral” means all
property and interests in property and proceeds thereof now owned or hereafter acquired by any Loan Party in or upon which a Lien
is granted or purported to be granted pursuant to any Loan Document.

 

“Collateral Agent” has
the meaning specified in the preamble to this Agreement.

 

“Commitment” means, with
respect to any Lender, the commitment of such Lender to make Loans and acquire interests in L/C Obligations, which commitment is
in the amount set forth opposite such Lender’s name on Schedule I under the caption “Commitment”,
as amended to reflect Assignments and as such amount may be reduced or increased pursuant to this Agreement. The aggregate amount
of the Commitments on the Amendment Effective Date equals $75,000,000.

 

“Communication” means
each notice, demand, communication, information, document or other material provided for hereunder or under any other Loan Document,
or otherwise transmitted between the parties hereto, relating this Agreement, the other Loan Documents, any Loan Party or its Affiliates,
or the transactions contemplated by this Agreement or the other Loan Documents including, without limitation, all Approved Electronic
Communications.

 

“Compliance Certificate”
means a certificate substantially in the form of Exhibit 1.1(2).

 

“Consolidated” means,
with respect to any Person, the accounts of such Person and its Subsidiaries, consolidated in accordance with GAAP.

 

“Consolidated Current Assets”
means, with respect to any Person at any date, the total Consolidated assets of such Person at such date other than (a) cash,
Cash Equivalents and any Indebtedness owing to such Person or any of its Subsidiaries by Affiliates of such Person that would,
in accordance with GAAP, be classified on a Consolidated balance sheet of such Person as current assets at such date, and (b) amounts
related to current or deferred Taxes based on income or profits.

 

“Consolidated Current Liabilities”
means, with respect to any Person at any date, all liabilities of such Person and its Subsidiaries at such date that would, in
accordance with GAAP, be classified as current liabilities on a Consolidated balance sheet of such Person; provided, that
“Consolidated Current Liabilities” shall exclude the principal amount of the Loans then outstanding.

 

“Consolidated EBITDA”
means, with respect to any Person for any period, without duplication, an amount equal to such Person’s Consolidated Net
Income for such period determined in accordance with GAAP, plus (a) to the extent applicable to such Person in such
period, the sum of (without duplication and only to the extent the amounts described in this clause (a) decreased such Consolidated
Net Income for the respective period for which Consolidated EBITDA is being determined) (i) provision for Taxes based on income,
profits or capital of such Person and its Subsidiaries for such period, including, without limitation, state, franchise and similar
taxes, (ii) Consolidated Interest Expense of such Person for such period, (iii) depreciation and amortization expense of such Person
and its Subsidiaries for such period, (iv) business optimization expenses and other restructuring charges of such Person and
its Subsidiaries for such period, provided, that (A) with respect to each business optimization expense or other such
restructuring charge, the Borrower shall have delivered to the Administrative Agent a certificate of a Responsible Officer of the
Borrower specifying and quantifying such expense or charge and stating that such expense or charge is a business optimization expense
or other restructuring charge, as the case may be, and (B) the aggregate amount of cash business optimization expenses and
other cash restructuring charges for purposes of this clause (iv) shall not exceed 5% of Consolidated EBITDA for such period
(as calculated prior to giving effect to the addition of amounts specified in this clause (iv)), (v) any other non-cash charges
of such Person and its Subsidiaries for such period (but excluding (a) any such charges which represent the accrual of, or a cash
reserve for, anticipated cash charges in any future period and (b) any such non-cash charge to the extent that it represents the
amortization of a prepaid cash charge that was paid in a prior period unless such non-cash charge represents an amount that was
not recognized in any prior period), (vi) management, consulting, monitoring, transaction, and advisory fees, and related
expenses of such Person and its Subsidiaries for such period paid to the Permitted Investors (or any accruals related to such fees
and related expenses), provided, that the aggregate amount of such fees and related expenses for purposes of this clause
(vi) shall not exceed in any period of four consecutive Fiscal Quarters, $500,000 as of the date of determination, (vii) any
fees, expenses or charges related to the documentation and closing of this Agreement and (vii) any fees, expenses or charges related
to Specified Stock Repurchases; minus (b) the sum (without duplication and only to the extent the amounts described in this
clause (b) increased such Consolidated Net Income for the respective period for which Consolidated EBITDA is being determined)
of non-cash items increasing Consolidated Net Income of such Person for such period (but excluding any such items (i) in respect
of which cash was received in a prior period or will be received in a future period, or (ii) which represent the reversal of any
accrual of, or cash reserve for, anticipated cash charges in any prior period).

 

    	7

    	 

    

 

“Consolidated EBITDAR”
means Consolidated EBITDA, plus, to the extent applicable to such Person in such period, the amount of (without duplication
and only to the extent that such amounts decreased Consolidated Net Income for the respective period for which Consolidated EBITDA
is being determined) Consolidated Rent Expense for such period.

 

“Consolidated Interest Expense”
means, for any Person for any period, Consolidated total interest expense of such Person and its Subsidiaries for such period and
including, in any event, (i) interest capitalized during such period and net cash costs under Interest Rate Contracts for such
period and (ii) all fees, charges, commissions, discounts and other similar obligations (other than reimbursement obligations)
with respect to letters of credit, bank guarantees, banker’s acceptances, surety bonds and performance bonds (whether or
not matured) payable by such Person and its Subsidiaries during such period.

 

“Consolidated Net Income”
means, with respect to any Person, for any period, the aggregate of the Net Income of such Person and its Subsidiaries attributable
to such Person (after giving effect to non-controlling interests) for such period, on a Consolidated basis; provided, that,
without duplication, (i) any net after-tax (A) extraordinary, (B) nonrecurring, or (C) unusual gains or losses or income or expenses
(less all fees and expenses relating thereto), including any severance expenses, and fees, expenses or charges related to the IPO,
any other offering of the Stock of Holdings, any Investment, acquisition or Indebtedness permitted to be incurred hereunder (in
each case, whether or not successful), including any such fees, expenses, charges or change in control payments related to any
acquisition consummated after the Closing Date, in each case, shall be excluded, (ii) any net after-tax income or loss from discontinued
operations and any net after-tax gain or loss on disposal of discontinued operations shall be excluded, (iii) any net after-tax
gain or loss (less all fees and expenses or charges relating thereto) attributable to business dispositions or asset dispositions
other than in the ordinary course of business (as determined in good faith by the board of directors (or equivalent) of the Borrower)
shall be excluded (other than write downs of current assets in the ordinary course of business), (iv) any net after-tax income
or loss (less all fees and expenses or charges relating thereto) attributable to the early extinguishment of Indebtedness shall
be excluded, (v) Consolidated Net Income for such period shall not include the cumulative effect of a change in accounting
principles during such period, (vi) any increase in amortization or depreciation or any one-time non-cash charges resulting from
purchase accounting in connection with any acquisition that is consummated after the Closing Date shall be excluded, (vii) any
non-cash impairment charges resulting from the application of Statement of Financial Accounting Standards No. 142 and 144, and
the amortization of intangibles arising pursuant to No. 141, shall be excluded, (vii) the effect of mark-to-market accounting for
derivatives contracts under Statement of Financial Accounting Standards No. 157 shall be excluded, (ix) any non-cash compensation
expenses realized from grants of stock appreciation or similar rights, stock options or other rights to officers, directors and
employees of such Person or any of its Subsidiaries shall be excluded, (x) any pre-opening expenses shall be excluded, (xi) to
the extent covered by insurance and actually reimbursed, or, so long as such person has made a determination that there exists
reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (a) not
denied by the applicable carrier in writing within 180 days and (b) in fact reimbursed within 365 days of the date of such evidence
(with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability
or casualty events or business interruption shall be excluded; provided that any proceeds of such reimbursement when received shall
be excluded from the calculation of Consolidated Net Income to the extent the expense reimbursed was previously excluded pursuant
to this clause (xi), and (xii) the net income for such period of any entity (other than a Subsidiary of such Person) in which any
Person other than such Person and its Subsidiaries has an ownership interest shall be excluded, except to the extent that cash
in an amount equal to any such income has actually been received by such Person or any of its Subsidiaries during such period.

 

    	8

    	 

    

 

“Consolidated Rent Expense”
means, for any period, the rental expense attributable to leases of real property that is deducted in determining Consolidated
Net Income for such period, determined on a consolidated basis in accordance with GAAP.

 

“Consolidated Total Assets”
means, as of any date, the total assets of the Borrower and the Consolidated Subsidiaries, determined in accordance with GAAP,
set forth on the Consolidated balance sheet of the Borrower as of such date (for the avoidance of doubt, the Consolidated Total
Assets as of October 31, 2010 is $52,965,111); provided that, in no event shall Consolidated Total Assets include the amount
of goodwill that would be recorded from the acquisition of the Borrower by the Fund and the Fund Affiliates to the extent purchase
accounting treatment was given or is given to such acquisition.

 

“Consolidated Total Debt”
of any Person means on any date (A) (i) all Indebtedness of a type described in clauses (a), (b), (c)(i),
(d), (f) and (g) of the definition thereof, other than letters of credit to the extent undrawn and (ii) all
Guaranty Obligations with respect to any Indebtedness of any other Person of a type described in clause (i) above, in each case
of such Person and its Subsidiaries on a Consolidated basis, less (B) the amount of unrestricted cash and Cash Equivalents
of such Person and its Subsidiaries (reduced, in the case of any Subsidiary that is not a Wholly Owned Subsidiary, to reflect the
extent of the relative aggregate direct and indirect beneficial ownership interest of the Borrower therein) on such date in an
amount not to exceed $7,500,000 less the outstanding principal amount of Loans on such date (provided that such unrestricted cash
and Cash Equivalents that reduces Consolidated Total Debt pursuant to this clause (B) shall be maintained in an account subject
to a Control Agreement (as defined in the Guaranty and Security Agreement)).

 

“Consolidated Total Lease Adjusted
Leverage Ratio” means, with respect to any Person as of any date, the ratio of (i) the sum of Consolidated Total Debt
of such Person outstanding as of such date plus the product of (a) Consolidated Rent Expense of such Person for the most
recent period of four consecutive Fiscal Quarters ending on or before such date, multiplied by (b) 6.00 to (ii) Consolidated EBITDAR
of such Person for the most recent period of four consecutive Fiscal Quarters ending on or before such date; provided, that
Consolidated EBITDAR shall be determined on a Pro Forma Basis.

 

“Constituent Documents”
means, with respect to any Person, collectively and, in each case, together with any modification of any term thereof, (a) the
articles of incorporation, certificate of incorporation, constitution or certificate of formation of such Person, (b) the bylaws,
operating agreement or joint venture agreement of such Person, (c) any other constitutive, organizational or governing document
of such Person, whether or not equivalent, and (d) any other document setting forth the manner of election or duties of the directors,
officers or managing members of such Person or the designation, amount or relative rights, limitations and preferences of any Stock
of such Person.

 

    	9

    	 

    

 

“Contractual Obligation”
means, with respect to any Person, any provision of any Security issued by such Person or of any document or undertaking (other
than a Loan Document) to which such Person is a party or by which it or any of its property is bound or to which any of its property
is subject.

 

“Copyrights” means all
rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to copyrights
and all mask work, database and design rights, whether or not registered or published, all registrations and recordations thereof
and all applications in connection therewith.

 

“Corporate Chart” means
a document setting forth, as of a date set forth therein, for each Person that is a Loan Party, that is subject to Section 7.10
or that is a Subsidiary or Joint Venture of any of them, other than a Foreign Subsidiary that is not a first-tier Foreign Subsidiary,
(a) the full legal name of such Person, (b) the jurisdiction of organization and any organizational number and tax identification
number of such Person, (c) the location of such Person’s chief executive office (or, if applicable, sole place of business)
and (d) the number of shares of each class of Stock of such Person (other than the Borrower) authorized, the number outstanding
and the number and percentage of such outstanding shares for each such class owned, directly or indirectly, by any Loan Party or
any Subsidiary of any of them.

 

“Customary Permitted Liens”
means, with respect to any Person, any of the following:

 

(a)        Liens (i) with respect to the payment
of taxes, assessments or other governmental charges or levies or (ii) of landlords, suppliers, carriers, materialmen, warehousemen,
repairmen, workmen or mechanics and other similar Liens, in each case imposed by law or arising in the ordinary course of business,
and, for each of the Liens in clauses (i) and (ii) above for amounts that are not overdue by more than 30 days or
that are being contested in good faith by appropriate proceedings with respect to which, if applicable, adequate reserves or other
appropriate provisions are maintained on the books of such Person in accordance with GAAP;

 

(b)        (i) Liens arising solely by virtue
of any statutory or common law provision relating to a banker’s liens, rights of set-off or similar rights, including Liens
of a collection bank on items in the course of collection arising under Section 4-208 of the UCC as in effect in the State
of New York or any similar section under any applicable UCC or any similar Requirement of Law of any foreign jurisdiction, and
(ii) Liens that are contractual rights of set-off (x) relating to the establishment of depository relations with banks not given
in connection with the issuance of Indebtedness or (y) relating to pooled deposit or sweep accounts of the Borrower or any Subsidiary
to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or any Subsidiary;

 

(c)        pledges or cash deposits made in the
ordinary course of business (i) in connection with workers’ compensation, unemployment insurance or other types of social
security benefits (other than any Lien imposed by ERISA) and to secure liability to insurance carriers under insurance or self-insurance
arrangement in respect of such obligations, (ii) for reimbursement or indemnification obligations (including obligations in respect
of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance
to the Borrower or any Subsidiary, (iii) to secure the performance of bids, tenders, leases (other than Capital Leases), governmental
contracts, sales contracts, other trade contracts (other than for the repayment of borrowed money), or other obligations of like
nature (including letters of credit in lieu thereof or to support the issuance thereof), including those incurred pursuant to any
Environmental Law, or (iv) made in lieu of, or to secure the performance of, statutory obligations, surety and appeal bonds, customs,
reclamation or performance and return of money bonds (in each case not related to judgments or litigation);

 

    	10

    	 

    

 

(d)        judgment liens (other than for the
payment of taxes, assessments or other governmental charges) securing judgments and other proceedings not constituting an Event
of Default under Section 9.1(e) and pledges or cash deposits made in lieu of, or to secure the performance of, judgment
or appeal bonds in respect of such judgments and proceedings;

 

(e)        Liens (i) arising by reason of zoning
restrictions, survey exceptions and such matters as an accurate survey would disclose, easements, trackage rights, licenses, reservations,
restrictions, declarations, rights-of-way, covenants, conditions, special assessments, rights-of-way, encroachments, defects or
irregularities in title (including leasehold title) and other similar encumbrances on the use or operation of real property, (ii)
consisting of leases, licenses or subleases granted by a lessor, licensor or sublessor on its property (in each case other than
Capital Leases) otherwise permitted under Section 8.4 that, for each of the Liens in clauses (i) and (ii)
above and clause (iii) below, do not, in the aggregate, materially (x) impair the value of such real property or (y) interfere
with the ordinary conduct of the business conducted and proposed to be conducted at such real property or (iii) arising by reason
of servicing agreements, development agreements, site plan agreements and other similar encumbrances incurred in the ordinary course
of business and title defects or irregularities that are of a minor nature and that, in the aggregate, do not interfere in any
material respect with the ordinary conduct of the business of the Borrower or any Subsidiary;

 

(f)        Liens of landlords (i) arising by statute
or under any lease or related Contractual Obligation entered into in the ordinary course of business, (ii) on fixtures and movable
tangible property located on the real property leased or subleased from such landlord, (iii) for amounts not yet due or that are
being contested in good faith by appropriate proceedings diligently conducted and (iv) for which adequate reserves or other appropriate
provisions are maintained on the books of such Person in accordance with GAAP;

 

(g)        Liens on real property disclosed by
the title insurance policies delivered pursuant to Section 7.10 and any replacement, extension or renewal of any such Lien;
provided, that such replacement, extension or renewal Lien shall not cover any property other than the property that was subject
to such Lien prior to such replacement, extension or renewal; provided, further, that such Liens do not secure any Indebtedness,
are of a minor nature and, in the aggregate, do not interfere in any material respect with the ordinary conduct of the business
of the Borrower or any Subsidiary;

 

(h)        Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;

 

(i)        Liens solely on any cash earnest money
deposits made by the Borrower or any of the Subsidiaries in connection with any letter of intent or purchase agreement permitted
hereunder;

 

(j)        the prior rights of consignees and
their lenders under consignment arrangements entered into in the ordinary course of business;

 

(k)        Liens arising from precautionary UCC
financing statements regarding operating leases; and

 

(l)        Liens on securities that are the subject
of repurchase agreements constituting Cash Equivalents under clause (f) of the definition thereof.

 

    	11

    	 

    

 

“Default” means any Event
of Default and any event that, with the passing of time or the giving of notice or both, would become an Event of Default.

 

“Defaulting Lender” means,
at any time, a Lender as to which the Administrative Agent has notified the Borrower that (i) such Lender has failed for three
or more Business Days to comply with its obligations under this Agreement to make a Loan and/or make a payment to the L/C Issuer
in respect of a L/C Request (each a “funding obligation”), (ii) such Lender has notified the Administrative
Agent, or has stated publicly, that it will not comply with any such funding obligation hereunder, or has defaulted on its funding
obligations under any other loan agreement or credit agreement or other financing agreement, (iii) such Lender has, for three or
more Business Days, failed to confirm in writing to the Administrative Agent, in response to a written request of the Administrative
Agent, that it will comply with its funding obligations hereunder, or (iv) a Lender Insolvency Event has occurred and is continuing
with respect to such Lender (provided that neither the reallocation of funding obligations provided for in Section 2.19(a)
as a result of a Lender's being a Defaulting Lender nor the performance by Non-Defaulting Lenders of such reallocated funding obligations
will by themselves cause the relevant Defaulting Lender to become a Non-Defaulting Lender). Any determination that a Lender is
a Defaulting Lender under clauses (i) through (iv) above will be made by the Administrative Agent in its sole discretion acting
in good faith. The Administrative Agent will promptly send to all parties hereto a copy of any notice to the Borrower provided
for in this definition. Notwithstanding anything to the contrary above, a Lender will not be a Defaulting Lender solely by virtue
of the ownership or acquisition of any stock in such Lender or its parent by any Governmental Authority.

 

“Departing Lender” means
any Existing Lender that is not a Lender under this Agreement.

 

“Designated Non-Cash Consideration”
shall mean the fair market value (as determined in good faith by the Borrower) of non-cash consideration received by the Borrower
or one of its Subsidiaries in connection with a Sale of any property that is so designated as Designated Non-Cash Consideration
pursuant to a certificate of a Responsible Officer, setting forth the basis of such valuation, less the amount of cash or cash
equivalents received in connection with a subsequent sale of such Designated Non-Cash Consideration.

 

“Disclosure Documents”
means, collectively, all confidential information memoranda and related written materials prepared by or on behalf of the Loan
Parties in connection with any Loan Document.

 

“Dollars” and the sign
“$” each mean the lawful money of the United States of America.

 

“Domestic Person” means
any “United States person” under and as defined in Section 770l(a)(30) of the Code.

 

“E-Fax” means any system
used to receive or transmit faxes electronically.

 

“Electronic Transmission”
means each document, instruction, authorization, file, information and any other communication transmitted, posted or otherwise
made or communicated by e-mail or E-Fax, or otherwise to or from an E-System or other equivalent service.

 

“Environment” means indoor
air, ambient air, surface water, groundwater, drinking water, soil, surface and subsurface strata and natural resources, such as
flora, fauna and wetlands.

 

    	12

    	 

    

 

“Environmental Laws”
means all Requirements of Law and Permits relating to the regulation and protection of occupational health and safety and the Environment,
including CERCLA, the SWDA, the Hazardous Materials Transportation Act (49 U.S.C. §§ 5101 et seq.), the Federal Insecticide,
Fungicide, and Rodenticide Act (7 U.S.C. §§ 136 et seq.), the Toxic Substances Control Act (15 U.S.C. §§ 2601
et seq.), the Clean Air Act (42 U.S.C. §§ 7401 et seq.), the Federal Water Pollution Control Act (33 U.S.C. §§
1251 et seq.), the Occupational Safety and Health Act (29 U.S.C. §§ 651 et seq.), the Safe Drinking Water Act (42 U.S.C.
§§ 300(f) et seq.) and those relating to the handling, treatment, transport, generation, storage, Release or threat of
Release of Hazardous Materials, all regulations promulgated under any of the foregoing, and any environmental transfer of ownership,
control, notification or approval statutes.

 

“Environmental Liabilities”
means all Liabilities (including costs of Remedial Actions, natural resource damages and costs and expenses of investigation and
feasibility studies) that may be imposed on, incurred by or asserted against any Group Member as a result of, or related to, any
claim, suit, action, investigation, proceeding or demand by any Person, whether based in contract, tort, implied or express warranty,
strict liability, criminal or civil statute or common law or otherwise, arising under any Environmental Law or in connection with
any environmental, occupational health or safety condition or with any Release or threat of Release of Hazardous Materials.

 

“Equity Contribution Basket”
means, on any date of determination, the cumulative amount of (A) cash proceeds from the IPO (which proceeds have been contributed
as common equity to the capital of the Borrower and to the extent have not been used to repay the Obligations under the Original
Credit Agreement) and (B) cash proceeds from the Sale (other than to the Borrower or any Subsidiary) of Qualified Capital Stock
of Parent or Holdings after the Closing Date (which proceeds have been contributed as common equity to the capital of the Borrower),
except, in each case, to the extent such proceeds constitute (x) proceeds of an issuance of Junior Capital that are used to make
an Investment pursuant to clause (n) of Section 8.3 or (y) proceeds of any Stock issued to any employee, officer
or director of Parent, Borrower, any Subsidiary of the Borrower or any direct or indirect parent of Parent; minus (i) the
aggregate amount of all Investments made after the Closing Date pursuant to clause (g)(ii) of Section 8.3; minus
(ii) the aggregate amount of all dividends made after the Closing Date and prior to such date of determination by applying a portion
of the Equity Contribution Basket pursuant to clause (c) of Section 8.5; minus (iii) the aggregate amount
of all prepayments of Subordinated Debt made after the Closing Date by applying a portion of the Equity Contribution Basket pursuant
to clause (c) of Section 8.6; plus (iv) the aggregate amount of any Indebtedness (other than Junior Indebtedness)
of the Borrower or any Subsidiary thereof issued after the Closing Date (other than Indebtedness issued to a Subsidiary), which
has been converted into or exchanged for Stock of the Borrower or any direct or indirect parent of the Borrower; plus (v)
the aggregate amount received by the Borrower or any Subsidiary in cash (and the fair market value (as determined in good faith
by the Borrower) of property other than cash received by the Borrower or any Subsidiary) after the Closing Date from (A) the sale
(other than to the Borrower or any Subsidiary) of the Stock of an Unrestricted Subsidiary, or (B) any dividend or other distribution
by an Unrestricted Subsidiary; plus (vi) in the event any Unrestricted Subsidiary has been redesignated as a Subsidiary
or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the
Borrower or any Subsidiary, the fair market value (as determined in good faith by the Borrower) of the Investments of the Borrower
or any Subsidiary in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets
transferred or conveyed, as applicable).

 

“Equity Issuance” means
any issuance by any Group Member of any equity interest, including pursuant to the exercise of options or warrants or pursuant
to the conversion of any debt to equity.

 

“ERISA” means the United
States Employee Retirement Income Security Act of 1974, as amended from time to time.

 

    	13

    	 

    

 

“ERISA Affiliate” means,
collectively, any Group Member, and any trade or business (whether or not incorporated) treated as a single employer with any Group
Member within the meaning of Section 414(b), (c), (m) or (o) of the Code.

 

“ERISA Event” means the
occurrence of any of the following: (a) a reportable event described in Section 4043(b) of ERISA (or, unless the 30-day notice
requirement has been duly waived under the applicable regulations, Section 4043(c) of ERISA) with respect to a Title IV Plan,
(b) the incurrence by any Group Member of any Liability with respect to the withdrawal of any ERISA Affiliate from a Title IV Plan
subject to Section 4063 of ERISA during a plan year in which it was a substantial employer, as defined in Section 4001(a)(2)
of ERISA, (c) the incurrence by any Group Member of any Liability with respect to the complete or partial withdrawal of any ERISA
Affiliate from any Multiemployer Plan, (d) the incurrence by any Group Member of any Liability with respect to the termination
of a Title IV Plan or Multiemployer Plan, (e) any failure by any Title IV Plan to satisfy the minimum funding standard (within
the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Title IV Plan, whether or not waived
(f) the receipt by any Group Member or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention
to terminate any Title IV Plan or to appoint a trustee to administer any Title IV Plan, (g) the failure of any ERISA Affiliate
to make any required contribution to any Title IV Plan or Multiemployer Plan when due, (h) the imposition of a lien under Section 302
or 4068 of ERISA on any property (or rights to property, whether real or personal) of any ERISA Affiliate, (i) the failure of a
Benefit Plan (other than a Multiemployer Plan) or any trust thereunder intended to qualify for tax exempt status under Section 401
or 501 of the Code to qualify thereunder, except where such failure would not have a Material Adverse Effect, and (j) the receipt
by any Group Member or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Group Member or any
ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is,
or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

 

“E-Signature” means the
process of attaching to or logically associating with an Electronic Transmission an electronic symbol, encryption, digital signature
or process (including the name or an abbreviation of the name of the party transmitting the Electronic Transmission) with the intent
to sign, authenticate or accept such Electronic Transmission.

 

“E-System” means any
electronic system, including SyndtrakTM and any other Internet or extranet-based site, whether such electronic system is owned,
operated or hosted by the Administrative Agent, any of its Related Persons or any other Person, providing for access to data protected
by passcodes or other security system.

 

“Eurodollar Base Rate”
means, for any Interest Period, the highest of:

 

(a) the rate per annum equal to the
rate determined by the Administrative Agent to be the offered rate that appears on the page of the LIBOR01 screen (or any successor
thereto) that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on
the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m.
(London time) two (2) Business Days prior to the first day of such Interest Period, or

 

(b) if the rates referenced in the preceding
subsection (a) are not available, the rate per annum determined by the Administrative Agent as the rate of interest (rounded upward
to the next 1/100th of 1%) at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds
in the approximate amount of the relevant Loan being made, continued or converted and with a term equivalent to such Interest Period
would be offered by the Administrative Agent’s London Branch to major banks in the offshore Dollar market at their request
at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period.

 

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“Eurodollar Rate” means,
for any Interest Period with respect to any Eurodollar Rate Loan:

 

(a) the rate per annum equal to the
rate determined by the Administrative Agent to be the offered rate that appears on the page of the LIBOR01 screen (or any successor
thereto) that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on
the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m.
(London time) two (2) Business Days prior to the first day of such Interest Period, or

 

(b) if the rates referenced in the preceding
subsection (b) are not available, the rate per annum determined by the Administrative Agent as the rate of interest (rounded upward
to the next 1/100th of 1%) at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds
in the approximate amount of the Eurodollar Rate Loan being made, continued or converted by the Administrative Agent and with a
term equivalent to such Interest Period would be offered by the Administrative Agent’s London Branch to major banks in the
offshore Dollar market at their request at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day
of such Interest Period.

 

“Eurodollar Rate Loan”
means any Loan that bears interest at a rate based on the Eurodollar Rate.

 

“Eurodollar Reserve Requirements”
means, with respect to any Interest Period and for any Eurodollar Rate Loan, a rate per annum equal to the aggregate, without duplication,
of the maximum rates (expressed as a decimal number) of reserve requirements in effect 2 Business Days prior to the first day of
such Interest Period (including basic, supplemental, marginal and emergency reserves) under any regulations of the Federal Reserve
Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for
eurocurrency funding (currently referred to as “eurocurrency liabilities” in Regulation D of the Federal Reserve Board)
maintained by a member bank of the United States Federal Reserve System.

 

“Event of Default” has
the meaning specified in Section 9.1.

 

“Excess Cash Flow” means,
for any Excess Cash Flow Period:

 

(a) Consolidated EBITDA of Borrower
for such Excess Cash Flow Period; minus

 

(b) without duplication,

 

(i) any cash principal payment on the
Loans during such Excess Cash Flow Period, to the extent that the Commitments are permanently reduced by the amount of such payment,

 

(ii) any cash principal payment, whether
scheduled or otherwise, and whether mandatory or voluntary, made by the Borrower or any of its Subsidiaries during such Excess
Cash Flow Period on any Capitalized Lease Obligation or other Indebtedness (other than with respect to voluntary payments, any
Subordinated Debt and any unsecured Indebtedness) but only, if such Indebtedness may be reborrowed, to the extent such payment
results in a permanent reduction in commitments thereof,

 

    	15

    	 

    

 

(iii) Capital Expenditures by the Borrower
and the Subsidiaries on a Consolidated basis during such Excess Cash Flow Period that are paid in cash to the extent permitted
hereunder to the extent not financed with the proceeds of Indebtedness other than the Loans,

 

(iv) the aggregate consideration paid
in cash during such Excess Cash Flow Period in respect of Permitted Acquisitions and other Investments permitted hereunder to the
extent not financed with the proceeds of Indebtedness other than the Loans (less any amounts received in respect thereof as a return
of capital or utilizing the Equity Contribution Basket),

 

(v) Capital Expenditures that the Borrower
or any Subsidiary becomes obligated to make, or that are committed to be made by the Borrower or any Subsidiary, during such Excess
Cash Flow Period and that are paid in cash, to the extent permitted hereunder and to the extent not financed with the proceeds
of Indebtedness other than the Loans, during the 180 day period immediately following the last day of such Excess Cash Flow Period
in an aggregate amount not to exceed $5,000,000 for any Excess Cash Flow Period,

 

(vi) the Consolidated Interest Expense
of Borrower for such Excess Cash Flow Period to the extent paid in cash,

 

(vii) the amount of any obligations
for United States federal income taxes or other taxes measured by net income payable with respect to such period,

 

(viii) cash expenditures made in respect
of Hedging Agreements during such Excess Cash Flow Period, to the extent not reflected in the computation of Consolidated EBITDA,

 

(ix) solely to the extent paid with
internally generated cash, dividends or distributions or repurchases of its Stock permitted under this Agreement and paid in cash
by the Borrower during such Excess Cash Flow Period, and dividends permitted under this Agreement and paid by any Subsidiary to
any Person other than Parent, the Borrower or any of the Subsidiaries during such Excess Cash Flow Period, in each case pursuant
to Section 8.5, other than pursuant to clause (c) of Section 8.5,

 

(x) amounts paid in cash during such
Excess Cash Flow Period on account of (A) items that were accounted for as noncash reductions of Consolidated Net Income that increased
Consolidated EBITDA and were included in Excess Cash Flow of the Borrower and its Subsidiaries in a prior Excess Cash Flow Period,
and (B) reserves or accruals established in purchase accounting,

 

(xi) noncash items (A) that increased
Consolidated Net Income, but were not deducted from Consolidated EBITDA pursuant to clause (b) of the definition of “Consolidated
EBITDA”, for such Excess Cash Flow Period (excluding any such items which represent the reversal of any accrual of, or cash
reserve for, anticipated cash charges in any prior period) and (B) in respect of which cash will be received in a future Cash Flow
Period,

 

(xii) [reserved], and

 

(xiii) any increase in the Working Capital
of Borrower during such period (measured as the excess of such Working Capital at the end of such period over such Working Capital
at the beginning of such period); plus

 

    	16

    	 

    

 

(c) without duplication,

 

(i) to the extent included in the calculation
of Consolidated EBITDA pursuant to clause (a)(i) of the definition thereof, any provision for United States federal income
taxes or other taxes measured by net income,

 

(ii) [reserved],

 

(iii) amounts deducted from the calculation
of “Excess Cash Flow” for the immediately preceding Excess Cash Flow Period pursuant to clause (b)(v) above,

 

(iv) cash payments received in respect
of Hedging Agreements during such Excess Cash Flow Period to the extent not included in the computation of Consolidated EBITDA,

 

(v) any decrease in the Working Capital
of Borrower during such Excess Cash Flow Period (measured as the excess of such Working Capital at the beginning of such Excess
Cash Flow Period over such Working Capital at the end thereof), and

 

(vi) amounts received in cash during such
Excess Cash Flow Period on account of items that were accounted for as noncash items that reduced Excess Cash Flow in a prior Excess
Cash Flow Period.

 

“Excess Cash Flow Period”
means each Fiscal Year of the Borrower commencing with Fiscal Year 2011.

 

“Executive Order” has
the meaning specified in Section 4.19.

 

“Existing Lender” has
the meaning set forth in the preamble hereto.

 

“Facility” means the
$75,000,000 revolving credit facility consisting of the Commitments hereunder.

 

“Family Members” shall
mean an individual’s spouse, siblings, children, or other lineal descendants of such individual.

 

“Federal Flood Insurance”
means federally backed Flood Insurance available under the National Flood Insurance Program to owners of real property improvements
located in special flood hazard areas in a community participating in the National Flood Insurance Program.

 

“Federal Funds Rate”
means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with
members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank on
the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for
such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business
Day and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be
the average rate charged to the Administrative Agent on such day on such transactions as determined by the Administrative Agent.

 

“Federal Reserve Board”
means the Board of Governors of the United States Federal Reserve System and any successor thereto.

 

“Fee Letter” means any
fee letter evidencing the obligations to pay any fee payable pursuant to Section 2.11(c).

 

    	17

    	 

    

 

“FEMA” means the Federal
Emergency Management Agency, a component of the U.S. Department of Homeland Security that administers the National Flood Insurance
Program.

 

“Financial Performance Covenants”
means the covenants of the Borrower set forth in Sections 5.1 and 5.2.

 

“Financial Statement”
means each financial statement delivered pursuant to Section 4.4 or 6.1.

 

“FIRREA” means the Financial
Institutions Reform, Recovery and Enforcement Act of 1989, as amended.

 

“Fiscal Quarter” means
each 3 fiscal month period ending on or about April 30, July 31 or October 31 or on the Saturday closest to January 31.

 

“Fiscal Year” means the
twelve fiscal month period ending on the Saturday closest to January 31.

 

“Flood Insurance” means,
for any real property located in a special flood hazard area identified by FEMA, Federal Flood Insurance or private insurance that
meets the requirements set forth by FEMA in its Mandatory Purchase of Flood Insurance Guidelines.

 

“Foreign Subsidiary”
means any Subsidiary that is incorporated or organized under the laws of any jurisdiction other than the United States of America,
any State thereof or the District of Columbia.

 

“Fund” means, collectively,
CCMP Capital Investors II, L.P., CCMP Capital Investors (Cayman) II, L.P. and other affiliated co-investment partnerships.

 

“Fund Affiliate” means
(i) each Affiliate of the Fund and (ii) any individual who is a partner or employee of the management companies with respect to
the Fund.

 

“GAAP” means generally
accepted accounting principles in the United States of America, as in effect from time to time, set forth in the FASB Accounting
Standards Codification as of the date of determination. Subject to Section 1.3, all references to “GAAP”
shall be to GAAP applied consistently with the principles used in the preparation of the Financial Statements described in Section 4.4(a).

 

“Governmental Authority”
means any nation, sovereign or government, any state or other political subdivision thereof, any agency, authority, bureau, commission,
department, body, or instrumentality thereof and any entity or authority exercising executive, legislative, taxing, judicial, regulatory
or administrative functions of or pertaining to government, including any central bank, stock exchange, regulatory body, arbitrator,
public sector entity, supra-national entity (including the European Union and the European Central Bank) and any self-regulatory
organization (including the National Association of Insurance Commissioners).

 

“Group Members” means,
collectively, the Borrower and its Subsidiaries.

 

“Group Members’ Accountants”
means any nationally-recognized independent registered certified public accountants acceptable to the Arrangers.

 

“Guarantor” means (i)
Parent, (ii) the Borrower, (iii) each Wholly Owned Subsidiary of the Borrower on the Closing Date that is not a Foreign
Subsidiary and (iv) each Subsidiary of any Loan Party that has or enters into any Guaranty Obligation with respect to Obligations
of Parent or any other Loan Party.

 

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“Guaranty and Security Agreement”
means a guaranty and security agreement, in substantially the form of Exhibit 1.1(3), among the Collateral Agent, the Administrative
Agent, the Borrower and the Guarantors from time to time party thereto.

 

“Guaranty Obligation”
means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person for any Indebtedness,
lease, dividend or other obligation (the “primary obligation”) of another Person (the “primary obligor”),
if the purpose or intent of such Person in incurring such liability, or the economic effect thereof, is to guarantee such primary
obligation or provide support, assurance or comfort to the holder of such primary obligation or to protect or indemnify such holder
against loss with respect to such primary obligation, including (a) the direct or indirect guaranty, endorsement (other than for
collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person
of any primary obligation, (b) the incurrence of reimbursement obligations with respect to any letter of credit or bank guarantee
in support of any primary obligation, (c) the existence of any Lien, or any right, contingent or otherwise, to receive a Lien,
on the property of such Person securing any part of any primary obligation and (d) any liability of such Person for a primary obligation
through any Contractual Obligation (contingent or otherwise) or other arrangement (i) to purchase, repurchase or otherwise acquire
such primary obligation or any security therefor or to provide funds for the payment or discharge of such primary obligation (whether
in the form of a loan, advance, stock purchase, capital contribution or otherwise), (ii) to maintain the solvency, working capital,
equity capital or any balance sheet item, level of income or cash flow, liquidity or financial condition of any primary obligor
to pay such primary obligation, (iii) to make take-or-pay or similar payments, if required, regardless of non-performance by any
other party to any Contractual Obligation, (iv) to purchase, sell or lease (as lessor or lessee) any property, or to purchase or
sell services, primarily for the purpose of enabling the primary obligor to satisfy such primary obligation or to protect the holder
of such primary obligation against loss or (v) to supply funds to or in any other manner invest in, such primary obligor (including
to pay for property or services irrespective of whether such property is received or such services are rendered); provided,
that “Guaranty Obligations” shall not include (x) endorsements for collection or deposit in the ordinary course
of business, (y) product warranties given in the ordinary course of business, or (z) customary and reasonable indemnity obligations
in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this
Agreement. The outstanding amount of any Guaranty Obligation shall equal the outstanding amount of the primary obligation so guaranteed
or otherwise supported or, if lower, the stated maximum amount for which such Person may be liable under such Guaranty Obligation.

 

“Hazardous Material”
means any chemical, substance, material, waste pollutant, contaminant or constituent in any form, including petroleum or any fraction
thereof, asbestos and asbestos-containing material, toxic mold, polychlorinated biphenyls, radioactive substances, or infectious,
bio-hazardous or other medical waste, regulated or which can give rise to liability under any Environmental Law.

 

“Hedging Agreement” means
any Interest Rate Contract, foreign exchange, swap, option or forward contract, spot, cap, floor or collar transaction, any other
derivative instrument and any other similar speculative or non-speculative transaction and any other similar agreement or arrangement
designed to alter the risks of any Person arising from fluctuations in any underlying variable; provided, that no phantom
stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees
or consultants of Parent, any direct or indirect parent of Parent, the Borrower or any of the Subsidiaries shall be a Hedging Agreement.

 

“Holdings” means Francesca’s
Holdings Corporation, a Delaware corporation.

 

    	19

    	 

    

 

“Immaterial Subsidiary”
means, at any time, a Subsidiary of the Borrower that has total assets that are, together with the total assets of all other Immaterial
Subsidiaries in the aggregate, less than the greater of (a) $7.5 million and (b) an amount equal to (i) $7.5 million multiplied
by (ii) the ratio of (x) the amount of Consolidated Total Assets as of the end of the Fiscal Quarter immediately prior to the
date of determination for which financial statements have been delivered pursuant to Section 6.1 to (y) the amount
of Consolidated Total Assets as of October 30, 2010.

 

“Increased
Amount Date” has the meaning specified in Section 2.20(a).

 

“Incremental
Facility” has the meaning specified in Section 2.20(a).

 

“Incremental
Lenders” has the meaning specified in Section 2.20(c).

 

“Incremental
Loans” means the Incremental Term Loans and the Incremental Revolving Loans.

 

“Incremental
Loan Commitments” has the meaning specified in Section 2.20(a).

 

“Incremental
Revolving Commitments” has the meaning specified in Section 2.20(a).

 

“Incremental
Revolving Facility” has the meaning specified in Section 2.20(b).

 

“Incremental
Revolving Lender” has the meaning specified in Section 2.20(c).

 

“Incremental
Revolving Loans” has the meaning specified in Section 2.20(b).

 

“Incremental
Term Facility” has the meaning specified in Section 2.20(a).

 

“Incremental
Term Lender” has the meaning specified in Section 2.20(c).

 

“Incremental
Term Loans” has the meaning specified in Section 2.20(b).

 

“Incremental Term Loan Commitments”
has the meaning specified in Section 2.20(a).

 

“Indebtedness” of any
Person means, without duplication, any of the following, whether or not matured: (a) all indebtedness for borrowed money; (b) all
obligations evidenced by notes, bonds, debentures or similar instruments, (c) the principal component of all obligations with respect
to (i) letters of credit, bank guarantees or bankers’ acceptances, or (ii) surety, customs, reclamation or performance bonds
(in each case not related to judgments or litigation) other than those entered into in the ordinary course of business, (d) all
obligations to pay the deferred purchase price of property or services (other than current trade liabilities and current intercompany
liabilities (but not any refinancings, extensions, renewals or replacements thereof) incurred in the ordinary course of business
and maturing within 180 days after the incurrence thereof), (e) all obligations created or arising under any conditional sale or
other title retention agreement, regardless of whether the rights and remedies of the seller or lender under such agreement in
the event of default are limited to repossession or sale of such property, (f) all Capitalized Lease Obligations, (g) all obligations,
whether or not contingent, to purchase, redeem, retire, defease or otherwise acquire for value, or pay any dividends or other amounts
with respect to, or converted into or exchange for Indebtedness, any of its own Stock or Stock Equivalents (or any Stock or Stock
Equivalent of a direct or indirect parent entity thereof) prior to the date that is 180 days after the Scheduled Termination Date,
valued at, in the case of redeemable preferred Stock, the greater of the voluntary liquidation preference and the involuntary liquidation
preference of such Stock plus accrued and unpaid dividends, (h) to the extent not already included in Indebtedness, all payments
that are then required to be made (but have not been previously made) in respect of any Hedging Agreement based upon a termination
(including an early termination) occurring on or prior to the date of determination, (i) all Indebtedness secured by any Lien on
any property or asset owned or held by such Person regardless of whether the Indebtedness secured thereby shall have been assumed
by that Person or is nonrecourse to the credit of such Person and (j) all Guaranty Obligations for obligations of any other Person
constituting Indebtedness of such other Person; provided, that the items in each of clauses (a) through (j)
above shall constitute “Indebtedness” of such Person solely to the extent, directly or indirectly, (x) such
Person is liable, directly or indirectly, for any part of any such item, (y) any such item is secured by a Lien on such Person’s
property or (z) any other Person has a right, contingent or otherwise, to cause such Person to become liable for any part of such
item or to grant such a Lien (the amount of such Indebtedness attributable to such Person to be actual amount of such Indebtedness
or, if such Indebtedness is non-recourse as to such Person, the lesser of the amount of such Indebtedness or the fair market value
of the property securing such Indebtedness).

 

    	20

    	 

    

 

“Indemnified Matters”
has the meaning specified in Section 11.4(a).

 

“Indemnitee” has the
meaning specified in Section 11.4(a).

 

“Information” has the
meaning specified in Section 11.13.

 

“Intellectual Property”
means all rights, title and interests in or relating to intellectual property and industrial property arising under any Requirement
of Law and all IP Ancillary Rights relating thereto, including all Copyrights, Patents, Trademarks, Internet Domain Names, Trade
Secrets and IP Licenses.

 

“Interest Period” means,
(a) with respect to any Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is made or converted
to a Eurodollar Rate Loan or, if such Loan is continued, on the last day of the immediately preceding Interest Period therefor
and, in each case, ending 1, 2, 3, or 6 months thereafter (or 9 or 12 months, if at the time of the relevant Eurodollar Rate Loan,
all relevant Lenders provide written consent thereto), as selected by the Borrower pursuant hereto, and (b) with respect to any
Secured Hedging Reimbursement Obligation, the period commencing on the date such Secured Hedging Reimbursement Obligation first
becomes outstanding or, for all successive Interest Periods, on the last day of the immediately preceding Interest Period therefor
and, in each case, ending 1 month thereafter; provided, that (v) if any Interest Period would otherwise end on a day that
is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless the result of such extension
would be to extend such Interest Period into the next calendar month, in which case such Interest Period shall end on the immediately
preceding Business Day, (w) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business
Day of a calendar month, (x) the Borrower may not select any Interest Period ending after the Scheduled Termination Date, (y) the
Borrower may not select any Interest Period in respect of Loans having an aggregate principal amount of less than $1,000,000 and
(z) there shall be outstanding at any one time no more than 3 Interest Periods.

 

“Interest Rate Contracts”
means all interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance.

 

“Internet Domain Names”
means all rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating
to Internet domain names.

 

“Investment” means, with
respect to any Person, directly or indirectly, (a) to own, purchase or otherwise acquire, in each case whether beneficially or
otherwise, any investment in, including any interest in, any Security of any other Person (other than any evidence of any Obligation),
(b) to redeem, retire, purchase, acquire for value from any Person any Stock of such Person, (c) to purchase or otherwise acquire,
whether in one transaction or in a series of transactions, all or a significant part of the property of any other Person or a business
conducted by any other Person or all or substantially all of the assets constituting the business of a division, branch, brand
or other unit operation of any other Person, (d) to incur, or to remain liable under, any Guaranty Obligation for Indebtedness
of any other Person, to assume the Indebtedness of any other Person or to make, hold, purchase or otherwise acquire, in each case
directly or indirectly, any deposit, loan, advance, commitment to lend or advance, or other extension of credit (including by deferring
or extending the date of, in each case outside the ordinary course of business, the payment of the purchase price for Sales of
property or services to any other Person, to the extent such payment obligation constitutes Indebtedness of such other Person),
excluding deposits with financial institutions available for withdrawal on demand, prepaid expenses, accounts receivable and similar
items created in the ordinary course of business or (e) to make, directly or indirectly, any contribution to the capital of
any other Person.

 

    	21

    	 

    

 

“IP Ancillary Rights”
means, with respect to any other Intellectual Property, as applicable, all foreign counterparts to, and all divisionals, reversions,
continuations, continuations-in-part, reissues, reexaminations, renewals and extensions of, such Intellectual Property and all
income, royalties, proceeds and Liabilities at any time due or payable or asserted under or with respect to any of the foregoing
or otherwise with respect to such Intellectual Property, including all rights to sue or recover at law or in equity for any past,
present or future infringement, misappropriation, dilution, violation or other impairment thereof, and, in each case, all rights
to obtain any other IP Ancillary Right.

 

“IP License” means all
Contractual Obligations (and all related IP Ancillary Rights), whether written or oral, granting any right title and interest in
or relating to any Intellectual Property.

 

“IPO” means the underwritten
initial public offering of the common stock of Holdings to be effected substantially concurrently with the Closing Date.

 

“IRS” means the Internal
Revenue Service of the United States and any successor thereto.

 

“Issue” means, with respect
to any Letter of Credit, to issue, extend the expiration date of, renew (including by failure to object to any automatic renewal
on the last day such objection is permitted), increase the face amount of, or reduce or eliminate any scheduled decrease in the
face amount of, such Letter of Credit, or to cause any Person to do any of the foregoing. The terms “Issued”
and “Issuance” have correlative meanings.

 

“Joinder Agreement” has
the meaning assigned to such term in Section 2.20(b).

 

“Joint Venture” means
a single-purpose corporation, partnership, limited liability company, joint venture, or other legal arrangement (whether created
by contract or conducted through a separate legal entity) now or hereafter formed by the Borrower or any of its Subsidiaries with
another Person in order to conduct a common venture or enterprise with such Person.

 

“Junior Capital” means
any Qualified Capital Stock of Parent and any Junior Indebtedness.

 

“Junior Indebtedness”
means Indebtedness of Parent that (a) is unsecured, (b) is expressly subordinated to the prior payment in full in cash of
the Obligations (and the related Guarantees) on terms reasonably satisfactory to the Administrative Agent, (c) provides that
interest in respect of such Indebtedness is payable in kind or, at the option of the holder of such Indebtedness, in cash or Cash
Equivalents, (d) has a final maturity date that is not earlier than the date that is 180 days after the Termination Date and has
no scheduled payments of principal thereon (including pursuant to a sinking fund obligation) or mandatory redemption obligations
prior to such final maturity date, and (e) is not subject to covenants, events of default and remedies that are less favorable
to the Borrower, as the case may be, than the terms of the Senior Debt as reasonably determined by the Administrative Agent.

 

“L/C Cash Collateral Account”
means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and
(b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents
to be placed therein.

 

    	22

    	 

    

 

“L/C Issuer” means (a)
KeyBank or any of its Subsidiaries or Affiliates and (b) each Person that hereafter becomes an L/C Issuer with the approval of,
and pursuant to an agreement with and in form and substance satisfactory to, the Administrative Agent and the Borrower, in each
case in their capacity as an L/C Issuer hereunder and together with their successors.

 

“L/C Obligations” means,
for any Letter of Credit at any time, the sum of (a) the L/C Reimbursement Obligations at such time for such Letter of Credit and
(b) the aggregate maximum undrawn face amount of such Letter of Credit outstanding at such time.

 

“L/C Reimbursement Agreement”
has the meaning specified in Section 2.4(a).

 

“L/C Reimbursement Date”
has the meaning specified in Section 2.4(e).

 

“L/C Reimbursement Obligation”
means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts
drawn under such Letter of Credit.

 

“L/C Request” has the
meaning specified in Section 2.4(b).

 

“L/C Sublimit” means
$10,000,000.

 

“Lender” means, collectively,
any financial institution or other Person that (a) is listed on the signature pages hereof as a “Lender” or
(b) from time to time becomes a party hereto by execution of an Assignment, in each case together with its successors.

 

“Lender Insolvency Event”
means that (i) a Lender or its Parent Company is determined or adjudicated to be insolvent by a Governmental Authority, or is generally
unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a
general assignment for the benefit of its creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy,
insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator
or the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action
indicating its consent to or acquiescence in any such proceeding or appointment.

 

“Lender Party” means
any Lender or the L/C Issuer.

 

“Lender Party Appointment Period”
has the meaning assigned in Section 10.7(a).

 

“Letter of Credit” means
any letter of credit Issued pursuant to Section 2.4.

 

“Liabilities” means all
claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties, sanctions, costs,
fees, taxes, commissions, charges, disbursements and expenses, in each case of any kind or nature (including interest accrued thereon
or as a result thereto and fees, charges and disbursements of financial, legal and other advisors and consultants), whether joint
or several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise.

 

    	23

    	 

    

 

“Lien” means, with respect
to any asset, (a) any mortgage, deed of trust, lien, hypothecation, assignment, easement, pledge, encumbrance, charge or security
interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, Capital Lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to
such asset, and (c) in the case of securities (other than securities representing an interest in a Joint Venture that is not a
Subsidiary), any purchase option, call or similar right of a third party with respect to such securities to the extent that any
such right is intended to have an effect equivalent to that of a security interest in such securities.

 

“Loan” means any loan
made or deemed made by any Lender hereunder.

 

“Loan Documents” means,
collectively, this Agreement, any Notes, the Guaranty and Security Agreement, any intellectual property security agreements, the
Mortgages, the Agency Fee Letter, the Fee Letter, the L/C Reimbursement Agreements, the Secured Hedging Documents, the Secured
Cash Management Agreements, and, when executed, each document executed by a Loan Party and delivered to the Administrative Agent,
the Collateral Agent, any Lender or any L/C Issuer in connection with or pursuant to any of the foregoing or the Obligations, together
with any modification of any term, or any waiver with respect to, any of the foregoing.

 

“Loan Party” means the
Borrower and each Guarantor.

 

“Management Group” means
the group consisting of (i) the directors, executive officers and other management personnel of the Borrower, Parent, any direct
or indirect parent of Parent and their Subsidiaries, as the case may be, on the Closing Date, (ii) any new directors whose election
by such boards of directors or whose nomination for election by the shareholders of the Borrower, Parent or any direct or indirect
parent of Parent, as the case may be, was approved by a vote of a majority of the directors of the Borrower, Parent or any direct
or indirect parent of Parent, as the case may be, then still in office who were either directors on the Closing Date or whose election
or nomination was previously so approved, (iii) executive officers and other management personnel of the Borrower, Parent, any
direct or indirect parent of Parent and their Subsidiaries, as the case may be, hired at a time when the directors on the Closing
Date together with the directors so approved constituted a majority of the directors of the Borrower, Parent or any direct or indirect
parent of Parent, as the case may be and (iv) any Family Member of any Person described in the foregoing clauses (i), (ii) and
(iii) (or a Family Member of any such Person’s spouse, parent or sibling), a company, partnership or a trust established
for the benefit of any of the foregoing or any personal representative, estate or executor under any will of any such Family Member
or pursuant to the laws of intestate succession.

 

“Material Adverse Effect”
means (a) a material adverse effect on the condition (financial or otherwise), business, operations or property of the Group Members,
taken as a whole, (b) material impairment of the ability of any of the Loan Parties to timely perform its or their obligations
under any Loan Document, or (c) material impairment of the legality, binding effect, validity or enforceability of any Loan
Document or the rights and remedies of the Administrative Agent, the Collateral Agent, the Lenders and/or the other Secured Parties
under any Loan Document.

 

“Maximum Lawful Rate”
has the meaning specified in Section 2.9(d).

 

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

 

“Mortgage” means any
mortgage, deed of trust or other document executed or required herein to be executed by any Loan Party and granting a security
interest over owned real property in favor of the Collateral Agent as security for the Obligations, in form and substance reasonably
satisfactory to the Collateral Agent.

 

    	24

    	 

    

 

“Mortgage Supporting Documents”
means, with respect to any Mortgage for a parcel of owned real property, each document (including title policies or marked-up unconditional
insurance binders, in such amounts and containing such endorsements (if available) as shall be reasonably required by the Administrative
Agent, ALTA as-built surveys (in form and as to date that is sufficiently acceptable to the title insurer issuing title insurance
to the Collateral Agent for such title insurer to deliver such endorsements (if available) and removing all survey exceptions to
such title insurance as reasonably requested by the Administrative Agent), environmental assessments and reports, life of loan
flood hazard determinations (with notice to Borrower), certificates, opinions, required consents, approvals or other instrument
or document necessary to consummate the transaction, all in form and substance reasonably acceptable to the Administrative Agent,
and evidence regarding recording and payment of fees, insurance premium and taxes) that the Administrative Agent may reasonably
request, to create, register, perfect, maintain, evidence the existence, substance, form or validity of or enforce a valid lien
on such parcel of owned real property in favor of the Collateral Agent for the benefit of the Secured Parties, subject only to
Customary Permitted Liens and such other Liens as the Administrative Agent and the Collateral Agent may approve.

 

“Multiemployer Plan”
means any multiemployer plan, as defined in Section 400l(a)(3) of ERISA, to which any ERISA Affiliate incurs or otherwise
has any obligation or liability, contingent or otherwise.

 

“National Flood Insurance Program”
means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection
Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover
real property improvements located in special flood hazard areas in participating communities and provides protection to property
owners through a Federal insurance program.

 

“Net Income” means, with
respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP.

 

“Non-Defaulting Lender”
means, at any time, a Lender that is not a Defaulting Lender.

 

“Non-Funding Lender”
has the meaning specified in Section 2.2(c).

 

“Non-U.S. Secured Party”
means each Agent, each Lender, each L/C Issuer, each SPV and each participant, in each case that is not a Domestic Person.

 

“Note” means a promissory
note of the Borrower, in substantially the form of Exhibit 2.14(e), payable to the order of a Lender in a principal amount
equal to the amount of such Lender’s Commitment.

 

“Notice of Borrowing”
has the meaning specified in Section 2.2(a).

 

“Notice of Conversion or Continuation”
has the meaning specified in Section 2.10(b).

 

“Obligations” means,
with respect to any Loan Party, all amounts, obligations, liabilities, covenants and duties of every type and description owing
by such Loan Party to any Agent, any Lender, the L/C Issuer, any Arranger, any other Indemnitee, any participant, any SPV, in the
case of any Secured Hedging Document, any Secured Hedging Counterparty therefor, or, in the case of any Secured Cash Management
Agreement, any Cash Management Bank, in each case arising out of, under, or in connection with, any Loan Document, whether direct
or indirect (regardless of whether acquired by assignment), absolute or contingent, due or to become due, whether liquidated or
not, now existing or hereafter arising and however acquired, and whether or not evidenced by any instrument or for the payment
of money, including (a) if such Loan Party is the Borrower, all Loans and L/C Obligations, (b) all interest, whether or not accruing
after the filing of any petition in bankruptcy or after the commencement of any insolvency, reorganization or similar proceeding,
and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding, (c) Secured Hedging
Reimbursement Obligations, (d) obligations under any Secured Cash Management Agreement, and (e) all other fees, expenses
(including fees, charges and disbursement of counsel), interest, commissions, charges, costs, disbursements, indemnities and reimbursement
of amounts paid and other sums chargeable to such Loan Party under any Loan Document (including those payable to the L/C Issuer
as described in Section 2.11).

 

    	25

    	 

    

 

“Original Credit Agreement”
has the meaning set forth in the preamble hereto.

 

“Other Taxes” has the
meaning specified in Section 2.17(c).

 

“Outstandings” means,
at any time, the sum of, in each case to the extent outstanding at such time, (a) the aggregate principal amount of the Loans and
(b) the L/C Obligations for all Letters of Credit.

 

“Parent” has the meaning
specified in the preamble to this Agreement.

 

“Parent Company” means,
with respect to a Lender, the bank holding company (as defined in Regulation Y of the Federal Reserve Board), if any, of such Lender.

 

“Patents” means all rights,
title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to letters patent
and applications therefor.

 

“Patriot Act” means the
USA Patriot Act of 2001 (31 U.S.C. 5318 et seq.).

 

“PBGC” means the United
States Pension Benefit Guaranty Corporation and any successor thereto.

 

“Perfection Certificate”
means a certificate in the form of Exhibit 1.1(4) or any other form approved by the Collateral Agent.

 

“Permit” means all permits,
licenses, accreditations by Governmental Authority, franchises and other consents and approvals required by any Government Authority
to lawfully operate the Business (including any pending applications for such permits, licenses, authorizations, registrations,
franchises, consents and approvals).

 

“Permitted Acquisition”
means any Proposed Acquisition satisfying each of the following conditions: (a) no Default shall have occurred and be continuing
or would result therefrom; (b) all transactions related thereto shall be consummated in accordance with applicable laws; (c) any
acquired or newly formed Subsidiary shall not be liable for any Indebtedness (except for Indebtedness permitted by Section 8.1);
(d) the Administrative Agent shall have received reasonable advance notice of such Proposed Acquisition including a reasonably
detailed description thereof at least 15 days prior to the consummation of such Proposed Acquisition (or such later date as may
be agreed by the Administrative Agent) and on or prior to the date of such Proposed Acquisition, the Administrative Agent shall
have received copies of the acquisition agreement and related Contractual Obligations and other documents (including financial
information and analysis, environmental assessments and reports, opinions, certificates and lien searches) and information, in
each case to the extent otherwise available and reasonably requested by the Administrative Agent; (e) after giving effect to such
Proposed Acquisition, the Borrower shall be in compliance with the Financial Performance Covenants on a Pro Forma Basis as of the
last day of the last Fiscal Quarter for which Financial Statements have been delivered hereunder, and the Borrower shall have delivered
to the Administrative Agent a certificate of a Responsible Officer of the Borrower to such effect, together with all relevant financial
information for such Permitted Acquisition, (f) in the case of the acquisition of the capital stock of another Person, either by
tender offer or otherwise, the board of directors (or other comparable governing body) of such other Person shall have duly approved
such acquisition at the time of the initial offer thereof, and (g) the Borrower shall satisfy its obligations under Section 7.10
with respect to the Proposed Acquisition Target and its Subsidiaries (and any assets acquired therefrom).

 

    	26

    	 

    

 

“Permitted Indebtedness”
means any Indebtedness of any Group Member that is not prohibited by Section 8.1 or any other provision of any Loan
Document.

 

“Permitted Investment”
means any Investment of any Group Member that is not prohibited by Section 8.3 or any other provision of any Loan Document.

 

“Permitted Investors”
means the Management Group.

 

“Permitted Lien” means
any Lien on or with respect to the property of any Group Member that is not prohibited by Section 8.2 or any other
provision of any Loan Document.

 

“Permitted Payment Restriction”
means any consensual encumbrance or restriction (each, a “restriction”) on the ability of any Subsidiary to pay dividends
or make any other distributions on its equity interest to the Borrower or a Subsidiary, which restriction satisfies all of the
following conditions: (i) such restriction becomes effective only upon the occurrence of (x) specified events under its Constituent
Documents or any joint venture or similar agreements or (y) an “event of default” with respect to Indebtedness (as
defined in the agreement governing such Indebtedness) that was incurred by such Subsidiary in compliance with Section 8.1
and (ii) such restriction would not materially impair the Borrower’s ability to make scheduled payments of cash interest
and to make required principal payments on the Loans, as determined in good faith by the Board of Directors of the Borrower whose
determination shall be conclusive, provided that the Borrower shall reasonably promptly notify the Administrative Agent
and Lenders from time to time after any such determination is made.

 

“Permitted Refinancing”
means Indebtedness constituting a refinancing, extension, renewal, or replacement of Permitted Indebtedness that (a) has an aggregate
outstanding principal amount (or accreted value, if applicable) not greater than the aggregate principal amount (or accreted value,
if applicable) of such Permitted Indebtedness outstanding at the time of such refinancing or extension (plus unpaid accrued interest
and premium thereon and reasonable and customary underwriting discounts, fees, commissions, and expenses), (b) has a weighted average
maturity (measured as of the date of such refinancing or extension) and maturity no shorter than that of such Permitted Indebtedness,
(c) is not secured by any property or any Lien other than those securing such Permitted Indebtedness or on terms less favorable
to the Lenders than those of such Permitted Indebtedness, and (d) if the Permitted Indebtedness being refinanced, extended, renewed,
replaced, defeased or refunded is subordinated in right of payment to the Obligations under this Agreement, such Permitted Refinancing
shall be subordinated in right of payment to such Obligations on terms at least as favorable to the Lenders as those contained
in the documentation governing the Permitted Indebtedness being refinanced, extended, renewed, replaced, defeased or refunded;
provided, that, notwithstanding the foregoing, (x) the terms of such Permitted Indebtedness may be modified as part of such
Permitted Refinancing if such modification would have been permitted pursuant to Section 8.11 and (y) no Guaranty Obligation
for such Indebtedness shall constitute part of such Permitted Refinancing unless similar Guaranty Obligations with respect to such
Permitted Indebtedness existed and constituted Permitted Indebtedness prior to such refinancing or extension.

 

    	27

    	 

    

 

“Permitted Tax Distributions”
means, with respect to any taxable year (or portion thereof), dividends or distributions in amounts required for Parent or any
direct or indirect parent of Parent, if applicable, to pay federal, state, local or foreign income taxes (as the case may be) imposed
directly on Parent or such parent to the extent such income taxes are attributable to the income of the Borrower and its subsidiaries
(including, without limitation, by virtue of Parent or such parent being the common parent of a consolidated or combined tax group
of which the Borrower and/or its subsidiaries are members).

 

“Person” means any individual,
partnership, corporation (including a business trust and a public benefit corporation), joint stock company, estate, association,
firm, enterprise, trust, limited liability company, unincorporated association, joint venture and any other entity or Governmental
Authority.

 

“Pledged Notes” means
any promissory note, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent, issued
to a Loan Party that is pledged to the Collateral Agent under the Guaranty and Security Agreement and is a “Pledged Debt
Instrument” under the Guaranty and Security Agreement.

 

“Pricing Prospectus”
has the meanings set forth in Section 3.1(c).

 

“Prime Rate” means the
rate of interest per annum announced by Royal Bank from time to time as its prime commercial lending rate for United States Dollar
loans in the United States for such day. The Prime Rate is not necessarily the lowest rate that Royal Bank is charging any corporate
customer.

 

“Pro Forma Basis” means,
as to any Person, for any events as described below that occur subsequent to the commencement of a period for which the financial
effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation
as will give pro forma effect to such events as if such events occurred on the first day of the four consecutive Fiscal Quarter
period ended on or before the occurrence of such event (the “Reference Period”): (i) in making any determination
of Consolidated EBITDA, pro forma effect shall be given to any asset disposition (other than dispositions of inventory) or any
Permitted Acquisition involving consideration in excess of $1.0 million per transaction, or any discontinued operation (or any
similar transaction or transactions that require a waiver or consent of the Required Lenders pursuant to Section 8.3,
8.4 or 8.7), in each case that occurred during the Reference Period (or, in the case of determinations made pursuant
to the definition of the term “Permitted Acquisition” or Section 8.3(e)(iii), occurring during the Reference
Period or thereafter and through and including the date upon which the respective Permitted Acquisition is consummated), (ii) in
making any determination on a Pro Forma Basis, (x) all Indebtedness (including Indebtedness incurred or assumed and for which the
financial effect is being calculated, whether incurred under this Agreement or otherwise, but excluding normal fluctuations in
revolving Indebtedness incurred for working capital purposes not to finance any acquisition) incurred or permanently repaid during
the Reference Period (or, in the case of determinations made pursuant to the definition of the term “Permitted Acquisition”
or Section 8.3(e)(iii), occurring during the Reference Period or thereafter and through and including the date upon
which the respective Permitted Acquisition is consummated) shall be deemed to have been incurred or repaid at the beginning of
such period, and (y) Consolidated Interest Expense of such Person attributable to interest on any Indebtedness, for which pro forma
effect is being given as provided in preceding clause (x), bearing floating interest rates shall be computed on a pro forma basis
as if the rates that would have been in effect during the period for which pro forma effect is being given had been actually in
effect during such periods, and (iii) in making any determination on a Pro Forma Basis, effect will be given to the Subsidiary
Redesignation, if any, then being designated as well as any other Subsidiary Redesignation after the first day of the relevant
Reference Period and on or prior to the date of the respective Subsidiary Redesignation then being designated.

 

    	28

    	 

    

 

Pro forma calculations made pursuant to
the definition of the term “Pro Forma Basis” shall be determined in good faith by a Responsible Officer of the Borrower
and, in respect of any asset disposition (other than dispositions of inventory) or any Permitted Acquisition involving consideration
in excess of $1.0 million per transaction, or any discontinued operation (or any similar transaction or transactions that require
a waiver or consent of the Required Lenders pursuant to Sections 8.3, 8.4 or 8.7), without duplication
of the amounts added back to Consolidated EBITDA pursuant to clause (a)(iv) of the definition thereof, for any fiscal period
ending on or prior to the first anniversary of the consummation of such asset acquisition, asset disposition or other similar transaction,
may include adjustments (estimated on a good faith basis by the Borrower) to reflect operating expense reductions, reductions in
force and other synergies reasonably expected to result from such asset acquisition, asset disposition or other similar transaction,
for which substantially all of the steps necessary for the realization thereof have been taken or are reasonably anticipated by
the Borrower to be taken in the next 12 month period following the consummation thereof; provided that the aggregate amount
of the adjustments referred to above shall not exceed 10% of Consolidated EBITDA for such period (as calculated on a Pro Forma
Basis prior to giving effect to the addition of any such amounts). On the date any such asset acquisition, asset disposition or
other similar transaction is consummated, the Borrower shall deliver to the Administrative Agent a certificate of a Responsible
Officer of the Borrower setting forth such demonstrable or additional operating expense reductions and other operating improvements
or synergies and information and calculations supporting them in reasonable detail, based on historical results accounted for in
accordance with GAAP and, to the extent applicable, reasonable assumptions that are specified in detail in the relevant Compliance
Certificate, Financial Statement or other document provided to the Administrative Agent or any Lender in connection herewith.

 

“Projections” means those
three-year financial projections delivered to the Administrative Agent in March, 2011.

 

“Property Loss Event”
means, with respect to any property, any loss of or damage to such property or any taking of such property or condemnation thereof.

 

“Proposed Acquisition”
means (a) any proposed acquisition that is consensual and approved by the board of directors or other similar governing body or
Person(s) with regard to such Proposed Acquisition Target, of all or substantially all of the assets or Stock of any Proposed Acquisition
Target by the Borrower or any Subsidiary of the Borrower (or by Parent to the extent such assets and Stock are transferred to the
Borrower or any Subsidiary of the Borrower contemporaneously with such acquisition) or (b) any proposed merger of any Proposed
Acquisition Target with or into the Borrower or any Subsidiary of the Borrower (and, in the case of a merger with the Borrower,
with the Borrower being the surviving entity).

 

“Proposed Acquisition Target”
means any Person or any brand, line of business, division, branch, operating division or other unit operation of any Person.

 

“Pro Rata Outstandings”
of any Lender at any time, means the sum of (i) the outstanding principal amount of Loans owing to such Lender and (ii) the amount
of the participation of such Lender in the L/C Obligations outstanding with respect to all Letters of Credit.

 

“Pro Rata Share” means,
with respect to any Lender, the percentage obtained by dividing (a) the sum of the Commitments (or, if such Commitments are terminated,
the Pro Rata Outstandings therein) of such Lender then in effect under the Facility by (b) the sum of the Commitments (or, if such
Commitments are terminated, the Pro Rata Outstandings therein) of all Lenders then in effect under the Facility; provided,
that, if there are no Commitments and no Pro Rata Outstandings, such Lender’s Pro Rata Share shall be determined based on
the Pro Rata Share most recently in effect, after giving effect to any subsequent assignment and any subsequent non-pro rata payments
of any Lender pursuant to Section 2.18.

 

    	29

    	 

    

 

“Purchase Money Indebtedness”
means Indebtedness for the purchase price or cost of construction, repair or improvement of any property.

 

“Purchase Money Lien”
means a Lien (x) existing on property at the time of its acquisition, repair or construction by any Person, (y) created on property
contemporaneously with its acquisition or within 120 days of the acquisition or completion of construction, repair or improvement
thereof to secure the purchase price or cost of construction, repair or improvement thereof, or (z)  existing on property
of another Person at the time such other Person is consolidated with or merged into such Person and not created in contemplation
thereof; provided, that such Lien shall attach solely to the property acquired, constructed, repaired or improved, and the
principal amount of the Purchase Money Indebtedness secured by such Lien shall not exceed the purchase price of such property.

 

“Qualified Capital Stock”
means any Stock of any Person that does not by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable or exercisable) or upon the happening of any event (a) provide for scheduled payments of dividends in cash,
(b) mature, require the repurchase thereof, become mandatorily redeemable (other than pursuant to customary provisions relating
to redemption upon a change of control or sale of assets) pursuant to a sinking fund obligation or otherwise or become redeemable
at the option of the holder thereof, in each case prior to the date that is 180 days after the Termination Date, (c) become
convertible or exchangeable at the option of the holder thereof for Indebtedness or Stock that is not Qualified Capital Stock,
or (d) contain any maintenance covenants, other covenants adverse to the Lenders or remedies (other than voting rights and, subject
to clause (a) above, increases in dividends).

 

“Reference Period” has
the meaning provided in the definition of Pro Forma Basis in this Section 1.1.

 

“Register” has the meaning
specified in Section 2.14(b).

 

“Related Person” means,
with respect to any Person, each Affiliate of such Person and each director, officer, employee, agent, partner, trustee, representative,
attorney, accountant and each insurance, environmental, legal, financial and other advisor (including those retained in connection
with the satisfaction or attempted satisfaction of any condition set forth in Article III) and other consultants and agents
of or to such Person or any of its Affiliates, together with, if such Person is an Agent, each other Person or individual designated,
nominated or otherwise mandated by or helping such Agent pursuant to and in accordance with Section 10.5 or any comparable
provision of any Loan Document.

 

“Release” means any release,
threatened release, spill, emission, leaking, pumping, pouring, emitting, emptying, escape, injection, deposit, disposal, discharge,
dispersal, dumping, leaching or migration of Hazardous Material into or through the Environment, or from, into or through any structure
or facility (except for any such structure or facility that is intended to contain or convey such Hazardous Material).

 

“Remedial Action” means
all actions required to (a) clean up, remove, treat or in any other way address any Hazardous Material in the indoor or outdoor
Environment, (b) prevent or minimize any Release so that a Hazardous Material does not migrate or endanger or threaten to endanger
public health or welfare or the indoor or outdoor Environment or (c) perform pre remedial studies and investigations and post-remedial
monitoring and care with respect to any Hazardous Material.

 

    	30

    	 

    

 

“Required Lenders” means,
at any time, Lenders having at such time in excess of 50% of the sum of the aggregate Commitments (or, if such Commitments are
terminated, the Pro Rata Outstandings) then in effect; provided, that, if at any time there are only two Lenders (where
a Lender and its Affiliates or Approved Funds count as one Lender), “Required Lenders” shall mean all Lenders.

 

“Requirements of Law”
means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or international
laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions,
decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and
other determinations, directives, requirements or requests of, any Governmental Authority, in each case whether or not having the
force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its
property is subject.

 

“Responsible Officer”
means, with respect to any Person, any of the president, chief executive officer, chief financial officer, treasurer, assistant
treasurer, controller, managing member or general partner of such Person but, in any event, with respect to financial matters,
any such officer that is responsible for preparing the Financial Statements delivered hereunder and, with respect to the Corporate
Chart and other documents delivered pursuant to Section 6.1(d), documents delivered on the Closing Date or the Amendment
Effective Date and documents delivered pursuant to Section 7.10, the secretary or assistant secretary of such Person
or any other officer responsible for maintaining the corporate and similar records of such Person.

 

“Restricted Payment”
means (a) any dividend, return of capital, distribution or any other payment, whether direct or indirect (including through the
use of Hedging Agreements, the making, repayment, cancellation or forgiveness of Indebtedness and similar Contractual Obligations)
and whether in cash, Securities or other property, in each case on account of any Stock or Stock Equivalent of Parent, the Borrower
or any of its Subsidiaries, in each case now or hereafter outstanding, including with respect to a claim for rescission of a Sale
of such Stock or Stock Equivalent and (b) any redemption, retirement, sinking fund or similar payment, termination, defeasance,
cancellation, purchase or other acquisition for value, whether direct or indirect (including through the use of Hedging Agreements,
the making, repayment, cancellation or forgiveness of Indebtedness and similar Contractual Obligations), of any Stock or Stock
Equivalent of any Group Member or of any direct or indirect parent entity of the Borrower, now or hereafter outstanding.

 

“S&P” means Standard
& Poor’s Rating Services.

 

“Sale and Leaseback Transaction”
means, with respect to any Person (the “obligor”), any Contractual Obligation or other arrangement with any
other Person (the “counterparty”) consisting of a lease by such obligor of any property that, directly or indirectly,
has been or is to be Sold by the obligor to such counterparty or to any other Person to whom funds have been advanced by such counterparty
based on a Lien on, or an assignment of, such property or any obligations of such obligor under such lease.

 

“Scheduled Termination Date”
means the fifth anniversary of the Amendment Effective Date.

 

“Secured Cash Management Agreements”
means, collectively, any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit
card, electronic funds transfer and other cash management arrangements, that is entered into by and between the Borrower and any
Cash Management Bank.

 

“Secured Hedging Counterparty”
means Royal Bank or any other Person (other than any Group Member) that entered into a Hedging Agreement with the Borrower or has
provided a Secured Hedging Support Document at the request of the Borrower at a time when such Person was an Agent, a Lender or
an Affiliate of a Lender.

 

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“Secured Hedging Documents”
means, collectively, (a) any Hedging Agreement that (i) is entered into by the Borrower and any Secured Hedging Counterparty therefor,
(ii) in the case of a Hedging Agreement not entered into with or provided or arranged by the Administrative Agent or an Affiliate
of the Administrative Agent, is expressly identified as being a “Secured Hedging Document” hereunder in a joint
notice from Borrower and such Person delivered to the Administrative Agent reasonably promptly after the execution of such Hedging
Agreement, and (iii) meets the requirements of Section 8.1(f), and (b) any Secured Hedging Support Provision.

 

“Secured Hedging Reimbursement
Obligation” means any obligation of the Borrower to make payments to any Secured Hedging Counterparty with respect to
any Secured Hedging Support Provision.

 

“Secured Hedging Support Documents”
means any document (a) entered into to provide credit enhancements for the benefit of the counterparty to an Interest Rate Contract,
which credit enhancements are provided (i) solely to support the payment obligations of the Borrower under such Interest Rate Contract,
and (ii) by Royal Bank or any other Person at a time when such Person is the Administrative Agent, a Lender or an Affiliate of
a Lender, and (b) is expressly identified as being a “Secured Hedging Support Document” hereunder in a joint
notice from such Loan Party and the Person providing such credit enhancements delivered to the Administrative Agent reasonably
promptly after the execution or issuance of such document, unless such Person is the Administrative Agent or an Affiliate of the
Administrative Agent at the time such credit enhancements are provided.

 

“Secured Hedging Support Provision”
means any provision in any Secured Hedging Support Document, Sections 2.6(c), 2.9(a) and 2.9(c) and any
other provision of this Agreement or any Loan Document to the extent applicable to any Secured Hedging Reimbursement Obligation,
any Secured Hedging Support Document or affecting the rights or duties of, or any payment to, any Secured Hedging Counterparty
with respect to any Secured Hedging Support Document.

 

“Secured Parties” means
the Lenders, the L/C Issuer, each Agent, the Arrangers, any Secured Hedging Counterparty, each other Indemnitee and any other holder
of any Obligation of any Loan Party.

 

“Securitization” means,
with respect to any Lender, a public or private offering by such Lender or any of its Affiliates or their respective successors
and assigns, of Securities that represent an interest in, or that are collateralized, in whole or in part, by, the Loans and the
Loan Documents.

 

“Security” means all
Stock, Stock Equivalents, voting trust certificates, bonds, debentures, instruments and other evidence of Indebtedness, whether
or not secured, convertible or subordinated, all certificates of interest, share or participation in, all certificates for the
acquisition of, and all warrants, options and other rights to acquire, any Security.

 

“Sell” means, with respect
to any property, to sell, convey, transfer, assign, license, lease, exchange or otherwise dispose of, any interest therein or to
permit any Person to acquire any such interest, including, in each case, through a Sale and Leaseback Transaction or through a
sale, factoring at maturity, collection of or other disposal, with or without recourse, of any notes or accounts receivable. Conjugated
forms thereof and the noun “Sale” have correlative meanings.

 

“Senior Debt” of any
Person means Consolidated Total Debt minus Consolidated Total Debt that is Subordinated Debt, in each case of such Person and its
Subsidiaries on a Consolidated basis.

 

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“Solvent” means, with
respect to any Person as of any date of determination, that, as of such date, (a) the value of the assets of such Person (both
at fair value and present fair saleable value) is greater than the total amount of liabilities (including contingent and unliquidated
liabilities) of such Person, (b) such Person is able to pay all liabilities (including contingent and unliquidated liabilities)
of such Person as such liabilities become absolute and matured, (c) such person is generally paying its debts and liabilities as
they become due, including in the usual course of business or affairs of such Person, (d) such Person does not have unreasonably
small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be
conducted following the Closing Date (including such businesses reflected in the Projections and the most recent business plans
and forecasts required to be delivered pursuant to Section 6.1(g)) and (e) in the event of an amendment, modification
or other change in the Bankruptcy Code or any other applicable law relating to fraudulent transfers and conveyances after the Closing
Date, such Person is not “insolvent” within the meaning given that term and similar terms under the Bankruptcy Code
or any other applicable laws relating to fraudulent transfers and conveyances, as so amended, modified or changed. In computing
the amount of contingent or unliquidated liabilities at any time, such liabilities shall be computed at the amount that, in light
of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual
or matured liability (irrespective of whether such contingent or unliquidated liabilities meet the criteria for accrual under Statement
of Financial Accounting Standard No. 5).

 

“Specified Stock Repurchase”
has the meaning assigned in Section 8.5(e).

 

“SPV” means any special
purpose funding vehicle identified as such in a writing by any Lender to the Administrative Agent.

 

“Stock” means all shares
of capital stock (whether denominated as common stock or preferred stock), equity interests, beneficial, partnership or membership
interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how
designated) of or in a Person (other than an individual), whether voting or non-voting.

 

“Stock Equivalents” means
all securities convertible into or exchangeable for Stock or any other Stock Equivalent and all warrants, options or other rights
to purchase, subscribe for or otherwise acquire any Stock or any other Stock Equivalent, whether or not presently convertible,
exchangeable or exercisable.

 

“Subordinated Debt” means
any Indebtedness that is subordinated to the payment in full of the Obligations on terms and conditions reasonably satisfactory
to the Administrative Agent.

 

“Subsidiary”
means, with respect to any Person, any corporation, partnership, joint venture, limited liability company, association or other
entity, the management of which is, directly or indirectly, controlled by, or of which an aggregate of more than 50% of the outstanding
Voting Stock is, at the time, owned or controlled directly or indirectly by, such Person or one or more Subsidiaries of such Person.
Unless otherwise specified “Subsidiary” refers to a Subsidiary of the Borrower.

 

“Subsidiary Redesignation”
has the meaning provided in the definition of Unrestricted Subsidiary in this Section 1.1.

 

“Substitute Lender” has
the meaning specified in Section 2.18(a).

 

“SWDA” means the Solid
Waste Disposal Act (42 U.S.C. §§ 6901 et seq.).

 

“Syndication Agent” has
the meaning specified in the preamble to this Agreement.

 

    	33

    	 

    

 

“Tax Affiliate” means
(a) the Borrower and its Subsidiaries and (b) any Affiliate of the Borrower with which the Borrower or any of its Subsidiaries
files or is eligible to file consolidated, combined or unitary tax returns (or on whose consolidated, combined or unitary tax return
the income of the Borrower or any of its Subsidiaries is included).

 

“Tax Returns” has the
meaning specified in Section 4.8.

 

“Taxes” has the meaning
specified in Section 2.17(a).

 

“Termination Date” shall
mean the earliest of (a) Scheduled Termination Date, (b) the date of termination of the Commitments pursuant to Section 2.5
or 9.2 and (c) the date on which the Obligations become due and payable pursuant to Section 9.2.

 

“Title IV Plan” means
a pension plan subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, other than a Multiemployer
Plan, to which any ERISA Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise.

 

“Total Consideration”
means, with respect to any Permitted Acquisition, all cash and non-cash consideration, including the amount of Indebtedness assumed,
the maximum amount payable in connection with any deferred purchase price obligation (including any earn-out obligation) and the
value of any capital stock issued to the seller or sellers (other than capital stock of Holdings or the net cash proceeds of the
issuance by Holdings of shares of capital stock used to fund such Permitted Acquisition).

 

“Total Secured Debt”
means, at any date, the aggregate principal amount of Consolidated Total Debt outstanding at such date that consists of, without
duplication, (i) Capitalized Lease Obligations and (ii) other Indebtedness (other than Indebtedness in respect of the Facility)
that in each case is then secured by Liens on property or assets of the Borrower or its Subsidiaries (other than property or assets
held in a defeasance or similar trust or arrangement for the benefit of the Indebtedness secured thereby).

 

“Total Secured Leverage Ratio”
means, on any date, the ratio of (a) Total Secured Debt as of such date to (b) Consolidated EBITDA for the period of four consecutive
fiscal quarters of the Borrower most recently most recently ended as of such date, all determined on a Consolidated basis in accordance
with GAAP; provided that Consolidated EBITDA shall be determined on a Pro Forma Basis.

 

“Trademarks” means all
rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to trademarks,
trade names, corporate names, company names, business names, fictitious business names, trade styles, service marks, logos and
other source or business identifiers and, in each case, all goodwill associated therewith, all registrations and recordations thereof
and all applications in connection therewith.

 

“Trade Secrets” means
all right, title and interest (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to trade
secrets.

 

“UCC” means the Uniform
Commercial Code of any applicable jurisdiction and, if the applicable jurisdiction shall not have any Uniform Commercial Code,
the Uniform Commercial Code as in effect in the State of New York.

 

“Unfunded Current Liability”
of any Title IV Plan means the amount, if any, as of the most recent valuation date for the Title IV Plan, by which the present
value of the Title IV Plan’s benefit liabilities, determined in accordance with actuarial assumptions at such time consistent
with those prescribed by Section 412 and 430 of the Code and Section 302 and 303 of ERISA, exceeds the fair market value
of all plan assets allocable to such liabilities under Title IV of ERISA.

 

    	34

    	 

    

 

“United States” means
the United States of America.

 

“Unrestricted Subsidiary”
shall mean any Subsidiary of the Borrower that is acquired or created after the Closing Date and designated by the Borrower as
an Unrestricted Subsidiary hereunder by written notice to the Administrative Agent; provided, that the Borrower shall only
be permitted to so designate a new Unrestricted Subsidiary after the Closing Date and so long as (a) no Default exists or would
result therefrom, (b) the Borrower shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the
last day of the last Fiscal Quarter for which Financial Statements have been delivered hereunder after giving effect to such designation,
(c) at the time of such designation neither the Borrower nor any Subsidiary provides any guarantee or credit support of any kind,
including any undertaking, guarantee, indemnity, agreement or instrument that would constitute Indebtedness, of any Indebtedness
of such Unrestricted Subsidiary or is directly or indirectly liable on such Indebtedness, as a guarantor or otherwise and no Indebtedness
of such Unrestricted Subsidiary contains a default that would permit, upon notice, lapse of time or both, any holder of any Indebtedness
of Borrower or any Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be accelerated
or payable prior to its stated maturity and (d) such Unrestricted Subsidiary shall be capitalized (to the extent capitalized by
the Borrower or any of its Subsidiaries) through Investments as permitted by, and in compliance with, Section 8.3(g),
with any assets owned by such Unrestricted Subsidiary at the time of the initial designation thereof to be treated as Investments
pursuant to Section 8.3(g); and provided, further that at the time of the acquisition or creation of, and the
initial Investment by the Borrower or any of its Subsidiaries in, such Subsidiary, the Borrower shall designate such entity as
an Unrestricted Subsidiary in a written notice to the Administrative Agent. The Borrower may designate any Unrestricted Subsidiary
to be a Subsidiary for purposes of this Agreement (each, a “Subsidiary Redesignation”); provided, that
(i) no Default then exists or would occur as a consequence of any such Subsidiary Redesignation (including, but not limited
to, under Sections 8.1 and 8.2), (ii) calculations are made by the Borrower of compliance with the Financial
Performance Covenants for the relevant Reference Period, on a Pro Forma Basis as if the respective Subsidiary Redesignation (as
well as all other Subsidiary Redesignations theretofore consummated after the first day of such Reference Period) had occurred
on the first day of such Reference Period, and such calculations shall show that such Financial Performance Covenants would have
been complied with if the Subsidiary Redesignation had occurred on the first day of such Reference Period, (iii) based on good
faith projections prepared by the Borrower for the period from the date of the respective Subsidiary Redesignation to the date
that is one year thereafter, the level of financial performance measured by the Financial Performance Covenants shall be better
than or equal to such level as would be required to provide that no Default would exist under the Financial Performance Covenants
through the date that is one year from the date of the respective Subsidiary Redesignation, (iv) at the time of and immediately
after giving effect to such Redesignation, all representations and warranties contained herein and in the other Loan Documents
shall be true and correct in all material respects (provided that if any representation or warranty is by its terms qualified by
concepts of materiality, such representation shall be true and correct in all respects) on and as of such date with the same effect
as though such representations and warranties had been made on and as of such date, except to the extent such representations and
warranties expressly related to an earlier date (in which case such representations and warranties shall have been true and correct
in all material respects (or true and correct in all respects, as applicable) as of such earlier date), (v) the Borrower shall
have delivered to the Administrative Agent an officer’s certificate executed by a Responsible Officer of the Borrower, certifying
to the best of such officer’s knowledge, compliance with the requirements of preceding clauses (i) through (iv), inclusive,
and containing the calculations required by the preceding clauses (ii) and (iii). Except for purposes of Article IV and
Sections 6.2, 6.8, 7.2 and 11.4 and the definition of the term “Unrestricted Subsidiary”
above, an Unrestricted Subsidiary shall not be deemed to be a Subsidiary of the Borrower or any of its Subsidiaries for purposes
of this Agreement.

 

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“Unused Commitment Fee”
has the meaning specified in Section 2.11(a).

 

“U.S. Secured Party”
means each Agent, each Lender, each L/C Issuer, each SPV and each participant, in each case that is a Domestic Person.

 

“Voting Stock” means
Stock of any Person having ordinary power to vote in the election of members of the board of directors, managers, trustees or other
controlling Persons, of such Person (irrespective of whether, at the time, Stock of any other class or classes of such entity shall
have or might have voting power by reason of the occurrence of any contingency).

 

“Wholly Owned Subsidiary”
of any Person means any Subsidiary of such Person, all of the Stock of which (other than nominal holdings and director’s
qualifying shares) is owned by such Person, either directly or through one or more Wholly Owned Subsidiaries of such Person.

 

“Withdrawal Liability”
means, at any time, any liability incurred (whether or not assessed) by any ERISA Affiliate and not yet satisfied or paid in full
at such time with respect to any Multiemployer Plan pursuant to Section 4201 of ERISA.

 

“Working Capital” means,
for any Person at any date, its Consolidated Current Assets at such date minus its Consolidated Current Liabilities at such date;
provided, that for purposes of calculating Excess Cash Flow, increases or decreases in Working Capital shall be calculated
without regard to any changes in Consolidated Current Assets or Consolidated Current Liabilities as a result of (a) any reclassification
in accordance with GAAP of assets or liabilities, as applicable, between current and non-current, (b) the effects of purchase accounting,
or (c) the effect of fluctuations in the amount of accrued or contingent obligations under Hedging Agreements.

 

Section
1.2        UCC Terms. The following terms have the meanings given to them
in the applicable UCC: “deposit account”, “entitlement holder”, “entitlement order”,
“equipment”, “goods”, “instruments”, “inventory” and
“securities account”.

 

Section
1.3        Accounting Terms and Principles. (a) GAAP. All accounting
determinations required to be made pursuant hereto shall, unless expressly otherwise provided herein, be made in accordance with
GAAP. Notwithstanding anything to the contrary in the foregoing or elsewhere in this Agreement, no change in the accounting principles
used in the preparation of any Financial Statement hereafter adopted by Parent or the Borrower shall be given effect if such change
or application would affect a calculation that measures compliance with, or otherwise affect compliance with, any provision of
Article V or VIII unless the Borrower, the Administrative Agent and the Required Lenders agree to modify such provisions
to reflect such changes in GAAP and, unless such provisions are modified, all Financial Statements, Compliance Certificates and
similar documents provided hereunder shall be provided together with a reconciliation between the calculations and amounts set
forth therein before and after giving effect to such change in GAAP.

 

(b) Pro
Forma. All components of financial calculations made to determine compliance with Article V shall be adjusted on a Pro
Forma Basis.

 

    	36

    	 

    

 

Section
1.4        Payments. The Administrative Agent may set up standards and procedures
to determine or redetermine the equivalent in Dollars of any amount expressed in any currency other than Dollars and otherwise
may, but shall not be obligated to, rely on any determination made by any Loan Party or any L/C Issuer. Any such determination
or redetermination by the Administrative Agent shall be conclusive and binding for all purposes, absent manifest error. No determination
or redetermination by any Secured Party or Loan Party and no other currency conversion shall change or release any obligation
of any Loan Party or of any Secured Party (other than the Administrative Agent and its Related Persons) under any Loan Document,
each of which agrees to pay separately for any shortfall remaining after any conversion and payment of the amount as converted.
The Administrative Agent may round up or down, and may set up appropriate mechanisms to round up or down, any amount hereunder
to nearest higher or lower amounts and may determine reasonable de minimis payment thresholds.

 

Section
1.5        Interpretation. (a) Certain Terms. Except as set forth
in any Loan Document, all accounting terms not specifically defined herein shall be construed in accordance with GAAP (except
for the term “property”, which shall be interpreted as broadly as possible, including, in any case, cash, Securities,
other assets, rights under Contractual Obligations and Permits and any right or interest in any property). The terms “herein”,
“hereof” and similar terms refer to this Agreement as a whole. In the computation of periods of time from a
specified date to a later specified date in any Loan Document, the term “from” means “from and including”
and the words “to” and “until” each mean “to but excluding” and the word “through”
means “to and including.” In any other case, the term “including” when used in any Loan Document
means “including without limitation.” The term “documents” means all writings, however evidenced
and whether in physical or electronic form, including all documents, instruments, agreements, notices, demands, certificates,
forms, financial statements, opinions and reports. The term “incur” means incur, create, make, issue, assume
or otherwise become directly or indirectly liable in respect of or responsible for, in each case whether directly or indirectly,
and the terms “incurrence” and “incurred” and similar derivatives shall have correlative meanings.

 

(b) Certain
References. Unless otherwise expressly indicated, references (i) in this Agreement to an Exhibit, Schedule, Article, Section or
clause refer to the appropriate Exhibit or Schedule to, or Article, Section or clause in, this Agreement and (ii) in any Loan
Document, to (A) any agreement shall include, without limitation, all exhibits, schedules, appendixes and annexes to such agreement
and, unless the prior consent of any Secured Party required therefor is not obtained, any modification to any term of such agreement,
(B) any statute shall be to such statute as modified from time to time and to any successor legislation thereto, in each case as
in effect at the time any such reference is operative and (C) any time of day shall be a reference to New York time. Titles of
articles, sections, clauses, exhibits, schedules and annexes contained in any Loan Document are without substantive meaning or
content of any kind whatsoever and are not a part of the agreement between the parties hereto. Unless otherwise expressly indicated,
the meaning of any term defined (including by reference) in any Loan Document shall be equally applicable to both the singular
and plural forms of such term.

 

ARTICLE
II

THE FACILITY

 

Section
2.1        The Commitments. Pursuant to the Original Credit Agreement, the
Lenders, severally and not jointly, provided a commitment for revolving loans and letters of credit and on the date hereof. On
the terms and subject to the conditions contained in this Agreement, each Lender severally, but not jointly, agrees to make loans
in Dollars (each a “Loan”) to the Borrower from time to time on any Business Day during the period from the
date hereof until but excluding the Business Day preceding the Termination Date in an aggregate principal amount at any time outstanding
for all such loans by such Lender not to exceed such Lender’s Commitment; provided, that at no time shall any Lender
be obligated to make a Loan in excess of such Lender’s Pro Rata Share of the amount by which the then effective Commitments
exceeds the aggregate Outstandings at such time. Within the limits set forth in the first sentence of this paragraph, amounts
of Loans repaid may be reborrowed under this Section 2.1.

 

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Section
2.2        Borrowing Procedures. (a) Notice From the Borrower. Each
Borrowing shall be made on notice given by the Borrower to the Administrative Agent not later than (i) 12:00 p.m. on the
Business Day prior to the date of the proposed Borrowing, in the case of a Borrowing of Base Rate Loans and (ii) 12:00 p.m.
on the third Business Day prior to the date of the proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans. Each
such notice may be made in a writing substantially in the form of Exhibit 2.2(a) (a “Notice of Borrowing”)
duly completed or by telephone if confirmed promptly, but in any event within one Business Day and prior to such Borrowing, with
such a Notice of Borrowing. Loans shall be made as Base Rate Loans unless, outside of a suspension period pursuant to Section 2.15,
the Notice of Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. Each Borrowing shall be in an
aggregate amount of not less than $1,000,000 or an integral multiple of $100,000 in excess thereof.

 

(b)  Notice
to Each Lender. The Administrative Agent shall give to each Lender prompt notice of the Administrative Agent’s receipt
of a Notice of Borrowing and, if Eurodollar Rate Loans are properly requested in such Notice of Borrowing, prompt notice of the
applicable interest rate. Each Lender shall, make available to the Administrative Agent at its address referred to in Section 11.11
in immediately available funds not later than 1:00 p.m. on the Business Day specified in the applicable Notice of Borrowing, such
Lender’s Pro Rata Share of such proposed Borrowing. Upon satisfaction (or waiver) (i) on the Amendment Effective Date, of
the applicable conditions set forth in Section 3.1 and (ii) on the Amendment Effective Date and any time thereafter,
of the applicable conditions set forth in Section 3.2, the Administrative Agent shall make all funds so received available
to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the
books of the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance
with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

 

(c)  Non-Funding
Lenders. Unless the Administrative Agent shall have received notice from a Lender prior to the date such Lender is required
to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit that such Lender will not make
such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender
has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with
this Article II and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such
date a corresponding amount. The Borrower agrees to repay to the Administrative Agent on demand such amount (until repaid by such
Lender) with interest thereon for each day from and including the date such amount is made available to the Borrower to but excluding
the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the Obligation that would have been
created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available;
provided, that such payment shall not relieve such Lender of any obligation it may have to the Borrower or any L/C
Issuer. In addition, any Lender that shall not have made available to the Administrative Agent any portion of any payment described
above (any such Lender, a “Non-Funding Lender”) agrees to pay such amount to the Administrative Agent on demand
together with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding
the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate for the first Business Day and thereafter
(i) in the case of a payment in respect of a Loan, at the interest rate applicable at the time to such Loan and (ii) otherwise,
at the interest rate applicable to Base Rate Loans. Such repayment shall then constitute the funding of the corresponding Loan
(including any Loan deemed to have been made hereunder with such payment) or participation. The existence of any Non-Funding Lender
shall not relieve any other Lender of its obligations under any Loan Document, but no other Lender shall be responsible for the
failure of any Non-Funding Lender to make any payment required under any Loan Document.

 

    	38

    	 

    

 

Section
2.3        [Reserved].

 

Section
2.4        Letters of Credit. (a) Commitment and Conditions. On the
terms and subject to the conditions contained herein, each L/C Issuer agrees to Issue, at the request of the Borrower, in accordance
with such L/C Issuer’s usual and customary business practices, and for the account of the Borrower (or, as long as the Borrower
remains responsible for the payment in full of all amounts drawn thereunder and related fees, costs and expenses, for the account
of any Group Member), Letters of Credit (denominated in Dollars) from time to time on any Business Day during the period from
the Closing Date through the earlier of the Termination Date and five Business Days prior to the Scheduled Termination Date, provided
that no L/C Issuer shall be obligated to Issue any Letter of Credit and no Lender shall be obligated to participate in any
Letter of Credit if after giving effect to such Issuance, (x) the aggregate Outstandings would exceed the aggregate Commitments,
(y) the L/C Obligations for all Letters of Credit would exceed the L/C Sublimit, or (z) the Outstandings of any Lender would exceed
such Lender’s Commitment. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s
ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain
Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

 

(b)  An
L/C Issuer shall be under no obligation to Issue any Letter of Credit if:

 

(i)        any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such L/C
Issuer from Issuing such Letter of Credit, or any Law applicable to such L/C Issuer or any directive (whether or not having the
force of law) from any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, or direct that such L/C Issuer
refrain from, the Issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such L/C
Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not
otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss,
cost or expense which was not applicable on the Closing Date (for which such L/C Issuer is not otherwise compensated hereunder);

 

(ii)        the
expiration date of such Letter of Credit is more than one year after the date of Issuance thereof;

 

(iii)        the
expiration date of such Letter of Credit is later than five Business prior to the Scheduled Termination Date;

 

(iv)        the
Issuance of such Letter of Credit would violate any Laws binding upon such L/C Issuer;

 

(v)        the
Letter of Credit is to be denominated in a currency other than Dollars; or

 

(vi)        (A)
any fee due in connection with, and on or prior to, such Issuance has not been paid, (B) such Letter of Credit is requested to
be Issued in a form that is not acceptable to such L/C Issuer or (C) such L/C Issuer shall not have received, each in form and
substance reasonably acceptable to it and duly executed by the Borrower (and, if such Letter of Credit is Issued for the account
of any other Group Member, the Borrower as well as such Group Member), the documents that such L/C Issuer generally uses in the
ordinary course of its business for the Issuance of letters of credit of the type of such Letter of Credit (collectively, the “L/C
Reimbursement Agreement”).

 

    	39

    	 

    

 

(c)  An
L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have no obligation at such time
to Issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does
not accept the proposed amendment to such Letter of Credit.

 

For each such Issuance, the applicable L/C Issuer may, but shall
not be required to, determine that, or take notice whether, the conditions precedent set forth in Section 3.2 have
been satisfied or waived in connection with the Issuance of any Letter of Credit; provided, that no Letter of Credit shall
be Issued during the period starting on the first Business Day after the receipt by such L/C Issuer of notice from the Administrative
Agent or the Required Lenders that any condition precedent contained in Section 3.2 is not satisfied and ending on
the date all such conditions are satisfied or duly waived. If any Lender becomes, and during the period remains, a Defaulting Lender,
if any Letter of Credit is at the time outstanding, the L/C Issuer may (except, in the case of a Defaulting Lender, to the extent
the obligations of such Defaulting Lender in respect of such Letter of Credit have been fully reallocated pursuant to Section 2.19(a)),
by notice to the Borrower and such Defaulting Lender through the Administrative Agent, require the Borrower to Cash Collateralize
the obligations of the Borrower to the L/C Issuer in respect of such Letter of Credit in an amount at least equal to the aggregate
amount of the unreallocated obligations (contingent or otherwise) of such Defaulting Lender in respect thereof.

 

(d)  Procedures
for Issuance; Auto-Renewal Letters of Credit.

 

(i)        The
Borrower shall give the relevant L/C Issuer and the Administrative Agent a notice of any requested issuance or amendment of any
Letter of Credit (an “L/C Request”), which shall be effective only if received by such L/C Issuer and the Administrative
Agent not later than 12:00 noon on the third Business Day prior to the date of such requested issuance; or, such later date
and time as the relevant L/C Issuer may agree in a particular instance in its sole discretion. In the case of a request for an
initial issuance of a Letter of Credit, such L/C Request shall specify in form and detail reasonably satisfactory to the relevant
L/C Issuer: (a) the proposed Issuance date of the requested Letter of Credit (which shall be a Business Day); (b) the amount thereof;
(c) the expiry date thereof; (d) the name and address of the beneficiary thereof; (e) the documents to be presented by such beneficiary
in case of any drawing thereunder; and (f) the full text of any certificate to be presented by such beneficiary in case of any
drawing thereunder. In the case of a request for an amendment of any outstanding Letter of Credit, such L/C Request shall specify
in form and detail reasonably satisfactory to the relevant L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed
date of amendment thereof (which shall be a Business Day); and (3) the nature of the proposed amendment.

 

(ii)        Promptly
after receipt of any such notice, the relevant L/C Issuer will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has received a copy of such notice from the Borrower and, if not, such L/C Issuer will provide the
Administrative Agent with a copy thereof. Upon receipt by the relevant L/C Issuer of confirmation from the Administrative Agent
that the requested Issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions
hereof, such L/C Issuer shall, on the requested date, Issue a Letter of Credit for the account of the Borrower or such Subsidiary,
as the case may be, or enter into the applicable amendment, as the case may be. Immediately upon the Issuance of each Letter of
Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees, to acquire from the relevant L/C Issuer
a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the
amount of such Letter of Credit.

 

    	40

    	 

    

 

(iii)        If
the Borrower so requests in any applicable L/C Request, the relevant L/C Issuer shall agree to Issue a Letter of Credit that has
automatic renewal provisions; provided, that, any such Letter of Credit must permit the relevant L/C Issuer to prevent any such
renewal at least once in each twelve-month period (commencing with the date of Issuance of such Letter of Credit) by giving prior
notice to the beneficiary thereof not later than a day in each such twelve-month period to be agreed upon at the time such Letter
of Credit is Issued. Unless otherwise directed by the relevant L/C Issuer, the Borrower shall not be required to make a specific
request to the relevant L/C Issuer for any such renewal. Once an auto-renewal Letter of Credit has been issued, the applicable
Lenders shall be deemed to have authorized (but may not require) the relevant L/C Issuer to permit the renewal of such Letter of
Credit at any time to an expiry date not later than five Business days prior to the Scheduled Termination Date; provided,
that, the relevant L/C Issuer shall not permit any such renewal if the relevant L/C Issuer has determined that it would have no
obligation at such time to Issue such Letter of Credit in its renewed form under the terms hereof.

 

(e)  Reporting
Obligations of L/C Issuers. Each L/C Issuer agrees to provide the Administrative Agent (which, after receipt, the Administrative
Agent shall provide to each Lender), in form and substance satisfactory to the Administrative Agent, each of the following on the
following dates: (i) (A) on or prior to any Issuance of any Letter of Credit by such L/C Issuer, (B) promptly following any drawing
under any such Letter of Credit or (C) promptly following any payment (or failure to pay when due) by the Borrower of any related
L/C Reimbursement Obligation, notice thereof, which shall contain a reasonably detailed description of such Issuance, drawing or
payment and (ii) upon the request of the Administrative Agent (or any Lender through the Administrative Agent), copies of any Letter
of Credit Issued by such L/C Issuer and any related L/C Reimbursement Agreement and such other documents and information as may
reasonably be requested by the Administrative Agent.

 

(f)  Reimbursement
Obligations of the Borrower. The Borrower agrees to pay to the L/C Issuer of any Letter of Credit each L/C Reimbursement Obligation
owing with respect to such Letter of Credit no later than the first Business Day after the Borrower receives notice from such L/C
Issuer that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the “L/C
Reimbursement Date”) with interest thereon computed as set forth in clause (i) below. In the event that any L/C
Issuer incurs any L/C Reimbursement Obligation not repaid by the Borrower as provided in this clause (e) (or any such payment
by the Borrower is rescinded or set aside for any reason), such L/C Issuer shall promptly notify the Administrative Agent of such
failure (and, upon receipt of such notice, the Administrative Agent shall forward a copy to each Lender) and, irrespective of whether
such notice is given, such L/C Reimbursement Obligation shall be payable on demand by the Borrower with interest thereon computed
(i) from and including the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date but excluding the
date such payment is made in full, at the interest rate applicable during such period to the Loans that are Base Rate Loans, and
(ii) thereafter until payment in full, at the interest rate applicable during such period to past due Loans that are Base Rate
Loans.

 

(g)  Reimbursement
Obligations of the Lenders. Upon receipt of the notice described in clause (e) above from the Administrative Agent,
each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share of such L/C Reimbursement
Obligation. By making such payment (other than during the continuation of an Event of Default under Section 9.1(e)),
such Lender shall be deemed to have made a Loan to the Borrower, which, upon receipt thereof by such L/C Issuer, the Borrower shall
be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Loan shall be
deemed a funding by such Lender of its participation in the applicable Letter of Credit and the L/C Obligation in respect of the
related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any
L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement
Obligation, such L/C Issuer shall promptly pay over to such Lender all payments received by such L/C Issuer with respect to such
portion of such L/C Reimbursement Obligation.

 

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(h)  Obligations
Absolute. The obligation of the Borrower to reimburse the relevant L/C Issuer for each drawing under each Letter of Credit
Issued by it shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following:

 

(i)        any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto;

 

(ii)        the
existence of any claim, counterclaim, setoff, defense or other right that any Loan Party may have at any time against any beneficiary
or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting),
the relevant L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or
by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

 

(iii)        any
draft, demand, certificate or other document presented under such 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; or any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under such Letter of Credit;

 

(iv)        any
payment by the relevant L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly
comply with the terms of such Letter of Credit; or any payment made by the relevant L/C Issuer under such Letter of Credit to any
Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver
or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in
connection with any bankruptcy or insolvency proceeding;

 

(v)        any
exchange, release or nonperfection of any Collateral, or any release or amendment or waiver of or consent to departure from the
Guaranty and Security Agreement or any other guarantee, for all or any of the Obligations of any Loan Party in respect of such
Letter of Credit;

 

(vi)        any
loss or delay, including in the transmission of any document; or

 

(vii)        any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that
might otherwise constitute a defense available to, or a discharge of, any Loan Party;

 

provided, that, the foregoing shall not excuse any L/C Issuer
from liability to the Borrower to the extent of any direct damages (as opposed to consequential, punitive or special damages, claims
in respect of which are waived by the Borrower to the extent permitted by applicable Law) suffered by the Borrower to the extent
such damages are determined by a final non-appealable judgment of a court of competent jurisdiction to have been caused by such
L/C Issuer’s gross negligence, willful misconduct or breach in bad faith of any Loan Document when determining whether drafts
and other documents presented under a Letter of Credit comply with the terms thereof.

 

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(i)  Conflict
with L/C Request. Notwithstanding anything else to the contrary in any L/C Request, in the event of any conflict between the
terms hereof and the terms of any L/C Request, the terms hereof shall control.

 

(j)  Addition
of an L/C Issuer. A Lender (or any of its Subsidiaries or affiliates) may become an additional L/C Issuer hereunder pursuant
to a written agreement among the Borrower, the Administrative Agent and such Lender. The Administrative Agent shall notify the
Lenders of any such additional L/C Issuer.

 

Section
2.5        Reduction and Termination of the Commitments. (a) Optional.
The Borrower may, upon at least two (2) Business Days’ prior notice to the Administrative Agent, terminate in whole or reduce
in part ratably any unused portion of the Commitments; provided, that each partial reduction shall be in an aggregate amount
that is an integral multiple of $1,000,000.

 

(b)  Mandatory.
All outstanding Commitments shall terminate on the Scheduled Termination Date.

 

Section
2.6        Repayment of Obligations. (a) The Borrower shall repay the entire
unpaid principal amount of the Loans on the Scheduled Termination Date.

 

(b)  The
Borrower promises to pay to the Secured Hedging Counterparty under any Secured Hedging Support Document an amount equal to the
amount of any payment made by such Secured Hedging Counterparty under such Secured Hedging Support Document within one Business
Day after the date such payment by such Secured Hedging Counterparty is made.

 

Section
2.7        Optional Prepayments. The Borrower may prepay to the Administrative
Agent, with one Business Day notice, the outstanding principal amount of any Loan in whole or in part at any time (together with
any breakage costs that may be owing pursuant to Section 2.16(a) after giving effect to such prepayment); provided,
that each partial prepayment that is not of the entire outstanding amount under the Facility shall be in an aggregate amount that
is an integral multiple of $1,000,000. Any payments made to the Administrative Agent pursuant to this Section 2.7
shall be applied to the Obligations in accordance with Section 2.12.

 

Section
2.8        [Reserved].

 

Section
2.9        Interest. (a) Rate. All Loans and the outstanding amount of all
other Obligations shall bear interest, in the case of Loans, on the unpaid principal amount thereof from the date such Loans are
made and, in the case of such other Obligations, from the date such other Obligations are due and payable until, in all cases,
paid in full, except as otherwise provided in clause (c) below, as follows: (i) in the case of Base Rate Loans, at a rate
per annum equal to the sum of the Base Rate and the Applicable Margin, each as in effect from time to time, (ii) in the case of
Eurodollar Rate Loans, at a rate per annum equal to the sum of the Eurodollar Rate and the Applicable Margin, each as in effect
for the applicable Interest Period, and (iii) in the case of other Obligations (other than Secured Hedging Reimbursement Obligations
and other Obligations owing under any Secured Hedging Document), at a rate per annum equal to the sum of the Base Rate and the
Applicable Margin for Loans that are Base Rate Loans, each as in effect from time to time.

 

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(b)  Payments.
Interest accrued shall be payable in arrears (i) if accrued on the principal amount of any Loan, (A) at maturity (whether by acceleration
or otherwise), (B)(1) if such Loan is a Base Rate Loan, on the last day of each calendar quarter commencing on the first such day
following the making of such Loan, (2) if such Loan is a Eurodollar Rate Loan, on the last day of each Interest Period applicable
to such Loan, upon any prepayment of such Loan or termination of the applicable Interest Period and, if applicable, on each date
during such Interest Period occurring every 3 months from the first day of such Interest Period, and (ii) if accrued on any other
Obligation, on demand from any applicable counterparty after the time such Obligation is due and payable (whether by acceleration
or otherwise).

 

(c)  Default
Interest. Notwithstanding the rates of interest specified in clause (a) above or elsewhere in any Loan Document, effective
immediately upon (A) the occurrence of any Event of Default under Section 9.1(a) or (e) or (B) the delivery of a notice
by the Required Lenders to the Borrower during the continuance of any other Event of Default and, in each case, for as long as
such Event of Default shall be continuing, the unpaid balance of all Obligations (including any Obligation that bears interest
by reference to the rate applicable to any other Obligation) then outstanding shall bear interest at a rate that is 2% per annum
in excess of the interest rate applicable to such Obligations from time to time, payable on demand or, in the absence of demand,
on the date that would otherwise be applicable.

 

(d)  Savings
Clause. Anything herein to the contrary notwithstanding, the obligations of the Borrower hereunder shall be subject to the
limitation that payments of interest shall not be required, for any period for which interest is computed hereunder, to the extent
(but only to the extent) that contracting for or receiving such payment by the respective Lender would be contrary to the provisions
of any law applicable to such Lender limiting the highest rate of interest which may be lawfully contracted for, charged or received
by such Lender, and in such event the Borrower shall pay such Lender interest at the highest rate permitted by applicable law (“Maximum
Lawful Rate”); provided, however, that if at any time thereafter the rate of interest payable hereunder is less than
the Maximum Lawful Rate, the Borrower shall continue to pay interest hereunder at the Maximum Lawful Rate until such time as the
total interest received by the Administrative Agent, on behalf of Lenders, is equal to the total interest that would have been
received had the interest payable hereunder been (but for the operation of this paragraph) the interest rate payable since the
Amendment Effective Date as otherwise provided in this Agreement.

 

Section
2.10        Conversion and Continuation Options.(a) Option. The Borrower
may elect (i) in the case of any Eurodollar Rate Loan, (A) to continue such Eurodollar Rate Loan or any portion thereof for an
additional Interest Period on the last day of the Interest Period applicable thereto and (B) to convert such Eurodollar Rate Loan
or any portion thereof into a Base Rate Loan at any time on any Business Day, subject to the payment of any breakage costs required
by Section 2.16(a), and (ii) in the case of Base Rate Loans, to convert such Base Rate Loans or any portion thereof
into Eurodollar Rate Loans at any time on any Business Day upon 3 Business Days’ prior notice; provided, that, (x)
for each Interest Period, the aggregate amount of Eurodollar Rate Loans having such Interest Period must be in an aggregate amount
of not less than $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) no conversion in whole or in part of
Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans shall be permitted at
any time at which (1) a Default or an Event of Default shall be continuing or (2) such continuation or conversion would be made
during a suspension imposed by Section 2.15.

 

(b)  Procedure.
Each such election shall be made by giving the Administrative Agent at least 3 Business Days’ prior notice in substantially
the form of Exhibit 2.10(b) (a “Notice of Conversion or Continuation”) duly completed. The Administrative
Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
If the Administrative Agent does not receive a timely Notice of Conversion or Continuation from the Borrower containing a permitted
election to continue or convert any Eurodollar Rate Loan, then, upon the expiration of the applicable Interest Period, such Loan
shall be automatically converted to a Base Rate Loan. Each partial conversion or continuation shall be allocated ratably among
the Lenders in accordance with their Pro Rata Share.

 

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Section
2.11        Fees. (a) Unused Commitment Fee. The Borrower agrees to pay to
each Lender a commitment fee on the actual daily amount by which the Commitment of such Lender exceeds its Pro Rata Share of the
sum of (i) the aggregate outstanding principal amount of Loans and (ii) the outstanding amount of the L/C Obligations for all
Letters of Credit (the “Unused Commitment Fee”) from the date hereof through the Termination Date at a rate
per annum equal to the Applicable Margin, payable in arrears (x) on the last day of each calendar quarter and (y) on the Scheduled
Termination Date (or, if earlier, the date of termination of the Commitments).

 

(b)  Letter
of Credit Fees. The Borrower agrees to pay, with respect to all Letters of Credit issued by any L/C Issuer, (i) to such L/C
Issuer, for its own account, (A) on the last day of each calendar quarter and on the Termination Date, a fronting fee in respect
of each Letter of Credit issued by such L/C Issuer for the period from and including the date of issuance of such Letter of Credit
to and including the termination of such Letter of Credit, computed at a rate equal to 1/4 of 1% per annum of the daily average
stated amount of such Letter of Credit, plus (B) in connection with the issuance, amendment or transfer of any such Letter of Credit
or any payment or disbursement made by an L/C Issuer pursuant to a Letter of Credit, the Borrower shall pay directly to each L/C
Issuer the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such
L/C Issuer, such customary fees and standard costs and charges being due and payable within five (5) Business Days of demand and
are nonrefundable, and (ii) to the Administrative Agent, for the benefit of the Lenders according to their Pro Rata Shares, a fee
accruing at a rate per annum equal to the Applicable Margin for Loans that are Eurodollar Rate Loans on the maximum undrawn face
amount of such Letters of Credit, payable in arrears (A) on the last day of each calendar quarter, ending after the issuance of
such Letter of Credit and (B) on the Termination Date; provided, that the fee payable under this clause (ii) shall
be increased by 2% per annum and shall be payable, in addition to being payable on any date it is otherwise required to be paid
hereunder, on demand effective immediately upon (x) the occurrence of any Event of Default under Section 9.1(a) or (e)
or (y) the delivery of a notice by the Required Lenders to the Borrower during the continuance of any other Event of Default and,
in each case, for as long as such Event of Default shall be continuing.

 

(c)  Additional
Fees. The Borrower has agreed to pay to the Administrative Agent, the Syndication Agent and the Arrangers additional fees as
agreed from time to time in writing.

 

(d)  Anything
herein to the contrary notwithstanding, during such period as a Lender is a Defaulting Lender, such Defaulting Lender will not
be entitled to any fees accruing during such period pursuant to Sections 2.11(a) and 2.11(b) (without prejudice to the rights
of the Lenders other than Defaulting Lenders in respect of such fees), provided that in the case of a Defaulting Lender
that was or is a Lender (x) to the extent that a portion of the obligations of such Defaulting Lender in respect of outstanding
Letters of Credit is reallocated to the Non-Defaulting Lenders pursuant to Section 2.19(a), such fees that would have accrued
for the benefit of such Defaulting Lender will instead accrue for the benefit of and be payable to such Non-Defaulting Lenders,
pro rata in accordance with their respective Commitments, and (y) to the extent any portion of such obligations of
such Defaulting Lender cannot be so reallocated, such fees will instead accrue for the benefit of and be payable to the L/C Issuer
as its interests appear (and the pro rata payment provisions of Section 2.12(d) will automatically be
deemed adjusted to reflect the provisions of this Section 2.11).

 

Section
2.12        Application of Payments. (a) Application of Voluntary Prepayments.
Unless otherwise provided in this Section 2.12 or elsewhere in any Loan Document, all payments and any other amounts
received by the Administrative Agent from or for the benefit of the Borrower (including optional prepayments pursuant to Section 2.7)
shall be applied to repay the Obligations as the Borrower designates.

 

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(b)  Application
of Payments During an Event of Default. Each of Parent and the Borrower hereby irrevocably waives, and agrees to cause each
Loan Party and each other Group Member to waive, the right to direct the application during the continuance of an Event of Default
of any and all payments in respect of any Obligation and any proceeds of Collateral and agrees that, notwithstanding the provisions
of clause (a) above, the Administrative Agent may, and, upon either (A) the direction of the Required Lenders or (B) the
termination of any Commitment or the acceleration of any Obligation pursuant to Section 9.2, shall, apply all payments
in respect of any Obligation, all funds on deposit in any Cash Collateral Account and all other proceeds of Collateral (i) first,
to pay Obligations in respect of any cost or expense reimbursements, fees or indemnities then due to the Administrative Agent
and the Collateral Agent in such capacities, (ii) second, to pay Obligations in respect of any cost or expense reimbursements,
fees or indemnities then due to the Lenders and the L/C Issuer, (iii) third, to pay interest then due and payable in respect
of the Loans and L/C Reimbursement Obligations and interest then due and payable in respect of any amount owing under any Secured
Hedging Document or Secured Cash Management Agreement, (iv) fourth, to repay the outstanding principal amounts of the Loans
and L/C Reimbursement Obligations, to provide cash collateral for Letters of Credit in the manner and to the extent described
in Section 9.4 and to pay amounts, other than interest, owing with respect to Secured Hedging Documents and Secured
Cash Management Agreements, and (v) fifth, to the ratable payment of all other Obligations.

 

(c)  Application
of Payments Generally. All payments that would otherwise be allocated to the Lenders pursuant to this Section 2.12
shall instead be allocated first, to repay interest on any portion of the Loans that the Administrative Agent may have advanced
on behalf of any Lender and on any L/C Reimbursement Obligation for which the Administrative Agent or, as the case may be, the
L/C Issuer has not then been reimbursed by such Lender or the Borrower, second to pay the outstanding principal amount of
the foregoing obligations and third, to repay the Loans. All repayments of any Loans shall be applied first, to repay such
Loans outstanding as Base Rate Loans and then, to repay such Loans outstanding as Eurodollar Rate Loans, with those Eurodollar
Rate Loans having earlier expiring Interest Periods being repaid prior to those having later expiring Interest Periods. If sufficient
amounts are not available to repay all outstanding Obligations described in any priority level set forth in this Section 2.12,
the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion
of the Secured Parties’ interest in such Obligations. Each payment by Borrower of interest in respect of the Loans shall
be applied to the amounts of such obligations owing to the Lenders pro rata according to the respective amounts then
due and owing to the Lenders. Each payment by Borrower on account of principal of the Loans shall be made pro rata
according to the respective outstanding principal amounts of the Loans then held by the Lenders. Any priority level set forth in
this Section 2.12 that includes interest shall include all such interest, whether or not accruing after the filing
of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a
claim for post-filing or post-petition interest is allowed in any such proceeding.

 

Section
2.13        Payments and Computations. (a) Procedure. The Borrower
shall make each payment under any Loan Document not later than 2:00 p.m. on the day when due to the Administrative Agent by wire
transfer to the following account (or at such other account or by such other means to such other address as the Administrative
Agent shall have notified the Borrower in writing within a reasonable time prior to such payment) in immediately available Dollars
without condition or deduction for any counterclaim, defense, recoupment or setoff:

 

    	46

    	 

    

 

ABA No. 021-000021

Account Number: 920-1033363

For further credit to A/C 293-7464, Transit 01269

RBCCM Agency Services, New York

Account Name: Royal Bank of Canada, New York

Reference: Francesca's Collections, Inc

 

The Administrative Agent shall promptly thereafter
cause to be distributed immediately available funds relating to the payment of principal, interest or fees to the Lenders, in accordance
with the application of payments set forth in Section 2.12. The Lenders shall make any payment under any Loan Document
in immediately available Dollars and without setoff or counterclaim. Each Lender shall make each payment for the account of any
L/C Issuer required pursuant to Section 2.4 (A) if the notice or demand therefor was received by such Lender prior
to 2:00 p.m. on any Business Day, on such Business Day and (B) otherwise, on the Business Day following such receipt. Payments
received by the Administrative Agent after 2:00 p.m. shall be deemed to be received on the next Business Day.

 

(b)  Computations
of Interests and Fees. All computations of interest for Base Rate Loans shall be made by on the basis of a year of three hundred
and sixty-five (365) days or three hundred and sixty-six (366) days, as the case may be, and actual days elapsed. All other computations
of fees and interest shall be made on the basis of a three hundred and sixty (360) day year and actual days elapsed. Interest shall
accrue on each Loan for the day on which such Loan is made, and shall not accrue on such Loan, or any portion thereof, for the
day on which such Loan or such portion is paid; provided that any such Loan that is repaid on the same day on which it is made
shall, subject to Section 2.12(a), bear interest for one (1) day. Each determination of an interest rate or the amount of
a fee hereunder shall be made by the Administrative Agent (including determinations of a Eurodollar Rate or Base Rate in accordance
with the definitions of “Eurodollar Rate” and “Base Rate”, respectively) or, if applicable in the case
of the Eurodollar Rate used to determine interest on Secured Hedging Reimbursement Obligations, the applicable Secured Hedging
Counterparty shall be conclusive and binding for all purposes, absent manifest error.

 

(c)  Payment
Dates. Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, the due date for such payment
shall be extended to the next succeeding Business Day without any increase in such payment as a result of additional interest or
fees; provided, that such interest and fees shall continue accruing as a result of such extension of time.

 

(d)  Advancing
Payments. Unless the Administrative Agent shall have received notice from the Borrower to the Lenders prior to the date on
which any payment is due hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that
the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance
upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender.
If and to the extent that the Borrower shall not have made such payment in full to the Administrative Agent, each Lender shall
repay to the Administrative Agent on demand such amount distributed to such Lender together with interest thereon (at the Federal
Funds Rate for the first Business Day and thereafter, at the rate applicable to Base Rate Loans) for each day from the date such
amount is distributed to such Lender until the date such Lender repays such amount to the Administrative Agent.

 

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Section
2.14        Evidence of Debt. (a) Records of Lenders. Each Lender
shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender resulting
from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender
from time to time under this Agreement (the “Participant Register”). In addition, each Lender having sold a
participation in any of its Obligations or having identified an SPV as such to the Administrative Agent, acting as a non-fiduciary
agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred
to in Section 11.11 (or at such other address as such Lender shall notify the Borrower) a record of ownership, in
which such Lender shall register by book entry (A) the name and address of each such participant and SPV (and each change thereto,
whether by assignment or otherwise) and (B) the principal amounts (and related interest amounts), rights, interest or obligation
of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder. Each
Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary.

 

(b)  The
Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at its address referred to in
Section 11.11 a copy of each Assignment delivered to it and a register for the recordation of the names and addressed
of the Lenders and the Commitments of, and principal amounts (and related interest amounts) of the Loans, L/C Reimbursement Obligations
(specifying the Unreimbursed Amounts), owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive, absent manifest error, and the Borrowers, the Agents and the Lenders shall treat
each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers, any Agent and
any Lender, at any reasonable time and from time to time upon reasonable prior notice (but no Lender shall be entitled to view
any information in the Register except such information contained therein with respect to the of Obligations owing to such Lender).

 

(c)  Registered
Obligations. Notwithstanding anything to the contrary contained in this Agreement, the Loans (including any Notes evidencing
such Loans and the corresponding obligations to participate in L/C Obligations) and the L/C Reimbursement Obligations are registered
obligations, the right, title and interest of the Lenders and the L/C Issuer and their assignees in and to such Loans or L/C Reimbursement
Obligations, as the case may be, shall be transferable only upon notation of such transfer in the Register and no assignment thereof
shall be effective until recorded therein. This Section 2.14 and Section 11.2 shall be construed so that
the Loans and L/C Reimbursement Obligations are at all times maintained in “registered form” within the meaning of
Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any successor provisions).

 

(d)  Standard
of Evidence. The entries made in the Register and in the accounts maintained pursuant to clauses (a) and (b)
above shall, to the extent permitted by applicable Requirements of Law, be conclusive (absent manifest error) of the existence
and amounts of the obligations recorded therein; provided, that no error or omission in such account and no failure of any
Lender or the Administrative Agent to maintain any such account shall affect the obligations of any Loan Party to repay the Loans
in accordance with their terms and no Lender or Administrative Agent shall be liable for any such errors or omissions. In addition,
the Loan Parties, the Administrative Agent, the Lenders and the L/C Issuer shall treat each Person whose name is recorded in the
Register as a Lender or L/C Issuer, as applicable, for all purposes of this Agreement notwithstanding notice to the contrary. Information
contained in the Register with respect to any Lender or any L/C Issuer shall be available for access by the Borrower, the Administrative
Agent, such Lender or such L/C Issuer at any reasonable time and from time to time upon reasonable prior notice. No Lender or L/C
Issuer shall, in such capacity, have access to or be otherwise permitted to review any information in the Register other than information
with respect to such Lender or L/C Issuer unless otherwise agreed by the Administrative Agent.

 

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(e)  Notes.
Upon any Lender’s request, the Borrower shall promptly execute and deliver Notes to such Lender evidencing the Loans of such
Lender and substantially in the form of Exhibit 2.14(e); provided, that only one Note shall be issued to each Lender,
except (i) to an existing Lender exchanging existing Notes to reflect changes in the Register relating to such Lender, in which
case the new Notes delivered to such Lender shall be dated the date of the original Notes and (ii) in the case of loss, destruction
or mutilation of existing Notes and similar circumstances. Each Note, if issued, shall only be issued as means to evidence the
right, title or interest of a Lender or a registered assignee in and to the related Loan, as set forth in the Register, and in
no event shall any Note be considered a bearer instrument or obligation.

 

Section
2.15        Suspension of Eurodollar Rate Option. Notwithstanding any provision
to the contrary in this Article II, the following shall apply:

 

(a)  Interest
Rate Unascertainable or Inadequate. In the event that (A) the Administrative Agent determines that adequate and reasonable
means do not exist for ascertaining the applicable interest rates by reference to which the Eurodollar Rate is determined or (B)
the Required Lenders notify the Administrative Agent that the Eurodollar Rate for any Interest Period will not adequately reflect
the cost to the Lenders of making or maintaining such Loans for such Interest Period, the Administrative Agent shall promptly so
notify the Borrower and the Lenders, whereupon the obligation of each Lender to make or to continue Eurodollar Rate Loans shall
be suspended as provided in clause (c) below until the Administrative Agent shall notify the Borrower that the Required
Lenders have determined that the circumstances causing such suspension no longer exist.

 

(b)  Illegality.
If any Lender determines that the introduction of, or any change in or in the interpretation of, any Requirement of Law after the
date of this Agreement shall make it unlawful, or any Governmental Authority shall assert that it is unlawful, for any Lender or
its applicable lending office to make Eurodollar Rate Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on
notice thereof and demand therefor by such Lender to the Borrower through the Administrative Agent, the obligation of such Lender
to make or to continue Eurodollar Rate Loans shall be suspended as provided in clause (c) below until such Lender shall,
through the Administrative Agent, notify the Borrower that it has determined that it may lawfully make Eurodollar Rate Loans.

 

(c)  Effect
of Suspension. If the obligation of any Lender to make or to continue Eurodollar Rate Loans is suspended, (A) the obligation
of such Lender to convert Base Rate Loans into Eurodollar Rate Loans shall be suspended, (B) such Lender shall make a Base Rate
Loan at any time such Lender would otherwise be obligated to make a Eurodollar Rate Loan, (C) the Borrower may revoke any pending
Notice of Borrowing or Notice of Conversion or Continuation to make or continue any Eurodollar Rate Loan or to convert any Base
Rate Loan into a Eurodollar Rate Loan and (D) each Eurodollar Rate Loan of such Lender shall automatically and immediately (or,
in the case of any suspension pursuant to clause (a) above, on the last day of the current Interest Period thereof) be converted
into a Base Rate Loan.

 

Section
2.16        Breakage Costs; Increased Costs; Capital Requirements. (a) Breakage
Costs. The Borrower shall compensate each Lender, upon demand from such Lender to such Borrower (with copy to the Administrative
Agent), for all Liabilities (including, in each case, those incurred by reason of the liquidation or reemployment of deposits
or other funds acquired by such Lender to prepare to fund, to fund or to maintain the Eurodollar Rate Loans of such Lender to
the Borrower but excluding any loss of the Applicable Margin on the relevant Loans) that such Lender may incur (A) to the extent,
for any reason other than solely by reason of such Lender being a Defaulting Lender, a proposed Borrowing, conversion into or
continuation of Eurodollar Rate Loans does not occur on a date specified therefor in a Notice of Borrowing or a Notice of Conversion
or Continuation or in a similar request made by telephone by the Borrower, (B) to the extent any Eurodollar Rate Loan is paid
(whether through a scheduled or optional prepayment) or converted to a Base Rate Loan (including because of Section 2.15)
on a date that is not the last day of the applicable Interest Period or (C) as a consequence of any failure by the Borrower to
repay Eurodollar Rate Loans when required by the terms hereof. For purposes of this clause (a), each Lender shall be deemed
to have funded each Eurodollar Rate Loan made by it using a matching deposit or other borrowing in the London interbank market.

 

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(b)  Increased
Costs. If at any time any Lender or L/C Issuer determines that, after the date hereof, the adoption of, or any change in or
in the interpretation, application or administration of, or compliance with, any Requirement of Law (other than any imposition
or increase of Eurodollar Reserve Requirements) from any Governmental Authority shall have the effect of (i) increasing the cost
to such Lender of making, funding or maintaining any Eurodollar Rate Loan or to agree to do so or of participating, or agreeing
to participate, in extensions of credit, (ii) increasing the cost to such L/C Issuer of Issuing or maintaining any Letter of Credit
or of agreeing to do so or (iii) imposing any other cost to such Lender or L/C Issuer with respect to compliance with its obligations
under any Loan Document, (other than, in each case, with respect to all taxes (including Indemnified Taxes and Other Taxes) which
shall be governed by Section 2.17), then, upon demand by such Lender or L/C Issuer (with copy to the Administrative
Agent), the Borrower shall pay to the Administrative Agent for the account of such Lender or L/C Issuer amounts sufficient to compensate
such Lender or L/C Issuer for such increased cost.

 

(c)  Increased
Capital Requirements. If at any time any Lender or L/C Issuer determines that, after the date hereof, the adoption of, or any
change in or in the interpretation, application or administration of, or compliance with, any Requirement of Law (other than any
imposition or increase of Eurodollar Reserve Requirements) from any Governmental Authority regarding capital adequacy, reserves,
special deposits, compulsory loans, insurance charges against property of, deposits with or for the account of, Obligations owing
to, or other credit extended or participated in by, any Lender or L/C Issuer or any similar requirement (in each case other than
any imposition or increase of Eurodollar Reserve Requirements) shall have the effect of reducing the rate of return on the capital
of such Lender or L/C Issuer (or any corporation controlling such Lender or L/C Issuer) as a consequence of its obligations under
or with respect to any Loan Document or Letter of Credit to a level below that which, taking into account the capital adequacy
policies of such Lender, L/C Issuer or corporation, such Lender, L/C Issuer or corporation could have achieved but for such adoption
or change, then, upon demand from time to time by such Lender or L/C Issuer (with a copy of such demand to the Administrative Agent),
the Borrower shall pay to the Administrative Agent for the account of such Lender or L/C Issuer amounts sufficient to compensate
such Lender or L/C Issuer for such reduction.

 

(d)  Compensation
Certificate. Each demand for compensation under this Section 2.16 shall be accompanied by a certificate of the
Lender or L/C Issuer claiming such compensation, setting forth the amounts to be paid hereunder, which certificate shall be conclusive,
binding and final for all purposes, absent manifest error. In determining such amount, such Lender or L/C Issuer may use any reasonable
averaging and attribution methods.

 

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Section
2.17        Taxes. (a) Payments Free and Clear of Taxes. Each payment
to any Secured Party by or on account of any obligation of any Loan Party hereunder or under any Loan Document shall be made free
and clear of all present or future taxes, levies, imposts, duties, deductions, assessments, withholdings or other charges imposed
by any Governmental Authority and all interest. additions to tax or penalties with respect thereto (and without deduction for
any of them) (collectively, the “Taxes”) other than for (i) Taxes measured by net income (including branch
profits taxes and other similar taxes) and franchise taxes imposed in lieu of net income taxes, in each case imposed on any Secured
Party by the United States or as a result of a present or former connection between such Secured Party and the jurisdiction of
the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than such
connection arising solely from such recipient having executed, delivered, become a party to, performed its obligations or received
a payment under, received or perfected a security interest under, engaged in any other transaction pursuant to, or enforced, any
Loan Document or any Secured Hedging Support Document), (ii) Taxes that are directly attributable to the failure by any Secured
Party to deliver the documentation required to be delivered pursuant to clause (f) below, or (iii) in the case of a Secured
Party making a Loan to the Borrower, any withholding tax (including any backup withholding tax) that is imposed by the United
States federal government (or a jurisdiction as a result of such Secured Party being organized or having its principal office
or its applicable lending office in such jurisdiction or as a result of such Secured Party engaging in a trade or business in
such jurisdiction for tax purposes, other than a trade or business deemed to arise by virtue of entering into this Agreement,
any other Loan Document or any of the transactions contemplated under such documents) and is imposed pursuant to any Requirement
of Law in effect at the time such Secured Party acquires the applicable interest in such Loan (or designates a new lending office),
except to the extent that such Secured Party (or its assignor, if any) was entitled, at the time of designation of a new lending
office (or assignment), to receive additional amounts from a Secured Party with respect to such withholding tax pursuant to this
Section 2.17(a) or Section 2.17(d) (all such non-excluded Taxes being hereinafter referred to as “Indemnified
Taxes”).

 

(b)  Gross-Up.
If any Indemnified Taxes or Other Taxes shall be required by law to be deducted by any Secured Party or other applicable withholding
agent from or in respect of any amount payable under any Loan Document to any Secured Party (i) such amount shall be increased
by the applicable Loan Party as necessary to ensure that, after all required deductions for Indemnified Taxes or Other Taxes are
made (including deductions applicable to any increases to any amount under this Section 2.17), such Secured Party receives
the amount it would have received had no such deductions been made, (ii) the applicable withholding agent shall make such deductions,
(iii) the applicable withholding agent shall timely pay the full amount deducted to the relevant taxing authority or other authority
in accordance with applicable Requirements of Law and (iv) if a Loan Party is the applicable withholding agent, as soon as practicable
after such payment is made, such Loan Party shall deliver to the Administrative Agent an original or certified copy of a receipt
evidencing such payment.

 

(c)  Other
Taxes. In addition, the Borrower agrees to pay, and authorizes the Administrative Agent to pay on behalf of the Borrower, any
present or future stamp, documentary, excise or property or similar Taxes imposed by any applicable Requirement of Law or Governmental
Authority (including by reason of any delay in payment thereof), in each case arising from any payment made hereunder or under
any other Loan Document or from the execution, delivery, registration of, or enforcement of, or otherwise with respect to, this
Agreement or any other Loan Document or any transaction contemplated therein (collectively, “Other Taxes”).
As soon as practicable after the date of any payment of Other Taxes by any Loan Party, the Borrower shall furnish to the Administrative
Agent, at its address referred to in Section 11.11, the original or a certified copy of a receipt evidencing payment
thereof.

 

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(d)  Indemnification.
The Borrower shall indemnify and hold harmless, within 30 days after receipt of demand therefor (with a copy to the Administrative
Agent), each Secured Party for all Indemnified Taxes and Other Taxes (including any Indemnified Taxes and Other Taxes imposed by
any jurisdiction on amounts payable under this Section 2.17) paid by such Secured Party and any Liabilities arising
therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally asserted by the
relevant Governmental Authority. A certificate of the Secured Party (or of the Administrative Agent on behalf of such Secured Party)
claiming any compensation under this Section 2.17(d), setting forth the amounts to be paid thereunder, together with
reasonable supporting documentation of the imposition of such Indemnified Tax or Other Tax, shall be delivered to the Borrower
with copy to the Administrative Agent, and shall be conclusive absent manifest error. In determining such amount, the Administrative
Agent and such Secured Party may use any reasonable averaging and attribution methods. If the Borrower reasonably believes that
any such Indemnified Taxes or Other Taxes have been incorrectly imposed, the Borrower may request that the relevant Secured Party
contest such imposition by the relevant Governmental Authority at the Borrower’s expense (so long as such efforts would not,
in the sole determination of such Secured Party, result in any unreimbursed costs or expenses or be otherwise materially disadvantageous
to it) and, if such Secured Party successfully contests such imposition and receives a refund therefor, such Secured Party shall
use such refund to reimburse the Borrower for the amount of such Indemnified Taxes or Other Taxes paid by the Borrower to the extent
provided by Section 2.17(g); provided, that the Borrower shall not be relieved from its reimbursement and indemnification
obligations under this Section 2.17(d) during any such contest. Any amounts payable under this Section 2.17(d)
shall be paid within 10 business days after written demand is made by a Secured Party.

 

(e)  Mitigation.
Any Lender claiming any additional amounts payable pursuant to this Section 2.17 shall use its reasonable efforts (consistent
with its internal policies and Requirements of Law) to change the jurisdiction of its applicable lending office if such a change
would reduce any such additional amounts (or any similar amount that may thereafter accrue) and would not, in the reasonable determination
of such Lender, result in any unreimbursed costs or expenses or be otherwise materially disadvantageous to such Lender.

 

(f)  Tax
Forms. Each Secured Party shall, at such times as are reasonably requested by Borrower or the Administrative Agent, provide
Borrower and the Administrative Agent with any documentation prescribed by law, or reasonably requested by Borrower or the Administrative
Agent, certifying as to any entitlement of such Secured Party to an exemption from, or reduction in, any withholding Tax with respect
to any payments to be made to such Secured Party under the Loan Documents. Unless the Borrower and the Administrative Agent have
received forms or other documents satisfactory to it indicating that payments under any Loan Document to or for a Secured Party
are not subject to withholding tax or are subject to such Tax at a rate reduced by an applicable tax treaty, the Borrower, Administrative
Agent or other applicable withholding agent shall withhold amounts required to be withheld by applicable law from such payments
at the applicable statutory rate.

 

Without limiting the generality of the foregoing:

 

(i)        Each
Secured Party that is a United States person (as defined in Section 7701(a)(30) of the Code) shall deliver to Borrower and
the Administrative Agent on or before the date on which it becomes a party to this Agreement two properly completed and duly signed
original copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Secured Party is exempt from
U.S. federal backup withholding.

 

(ii)        Each
Lender that is not a United States person (as defined in Section 7701(a)(30) of the Code) shall deliver to Borrower and the
Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time thereafter when
required by law or upon the reasonable request of Borrower or the Administrative Agent) whichever of the following is applicable:

 

(I)         two duly completed copies
of Internal Revenue Service Form W-8BEN (or any successor forms) claiming eligibility for benefits of an income tax treaty to which
the United States of America is a party,

 

(II)        two duly completed copies
of Internal Revenue Service Form W-8ECI (or any successor forms),

 

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(iii)        (III)        in
the case of a Secured Party claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate, in substantially the form of Exhibit 2.17(f) (any such certificate a “United States Tax Compliance
Certificate”), or any other form approved by the Administrative Agent, to the effect that such Secured Party is not (A)
a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of
Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code, and that no payments in connection with the Loan Documents are effectively connected
with such Secured Party’s conduct of a U.S. trade or business and (y) two duly completed copies of Internal Revenue Service
Form W-8BEN (or any successor forms),

 

(iv)        (IV)        to
the extent a Secured Party is not the beneficial owner (for example, where the Secured Party is a partnership, or is a Secured
Party that has granted a participation), Internal Revenue Service Form W-8IMY (or any successor forms) of the Secured Party, accompanied
by a Form W-8ECI, W-8BEN, United States Tax Compliance Certificate, Form W-9, Form W-8IMY (or other successor forms) or any other
required information from each beneficial owner, as applicable (provided that, if the Secured Party is a partnership (and
not a participating Secured Party) and one or more beneficial owners are claiming the portfolio interest exemption, the United
States Tax Compliance Certificate shall be provided by such Secured Party on behalf of such beneficial owner(s)), or

 

(V)        any other form prescribed
by applicable requirements of U.S. federal income tax law as a basis for claiming exemption from or a reduction in U.S. federal
withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable requirements of
law to permit Borrower and the Administrative Agent to determine the withholding or deduction required to be made.

 

Each Secured Party shall, from time to time after the initial
delivery by such Secured Party of the forms described above, whenever a lapse in time, change in such Secured Party’s circumstances
or change in applicable law renders such forms, certificates or other evidence so delivered expired, invalid, obsolete or inaccurate,
promptly (1) deliver to Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient)
renewals, amendments or additional or successor forms, properly completed and duly executed by such Secured Party, together with
any other certificate or statement of exemption required in order to confirm or establish such Secured Party’s status or
that such Secured Party is entitled to an exemption from or reduction in U.S. federal withholding tax or (2) notify Administrative
Agent and Borrower of its inability to deliver any such forms, certificates or other evidence.

 

Notwithstanding any other provision of this clause (f), a Secured
Party shall not be required to deliver any form that such Secured Party is not legally eligible to deliver.

 

(g)  [Reserved].

 

(h)  For
the avoidance of doubt, any payments made by the Administrative Agent to any Lender shall be treated as payments made by the applicable
Loan Party.

 

(i)   Solely
for purposes of this Section 2.17, the term “Loan Documents” shall not include the Secured Hedging Support
Documents, the tax gross-up and tax indemnity obligations for which (if any) shall be addressed in such documents.

 

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Section
2.18        Substitution of Lenders. (a) Substitution Right. In the
event that any Lender that is not an Affiliate of the Administrative Agent (an “Affected Lender”), (i) makes
a claim under clause (b) (Increased Costs) or (c) (Increased Capital Requirements) of Section 2.16,
(ii) notifies the Borrower pursuant to Section 2.15(b) (Illegality) that it becomes illegal for such Lender
to continue to fund or make any Eurodollar Rate Loan, (iii) makes a claim for payment pursuant to Section 2.17(b)
or (d), (iv) becomes a Defaulting Lender, or (v) does not consent to any amendment, waiver or consent to any Loan Document
for which the consent of the Required Lenders has been obtained but that requires the consent of other Lenders, the Borrower may
substitute for such Affected Lender any Lender or any Affiliate or Approved Fund of any Lender or any other Person acceptable
(which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent and L/C Issuer (in each case, a “Substitute
Lender”); provided that in the case of any such substitution resulting from a claim for compensation under Section 2.16
(b) or (c) or payments required to be made pursuant to Section 2.17 (b) or (d), such substitution
is reasonably expected to result in a reduction in such compensation or payments. Notwithstanding the foregoing, with respect
to a Lender that is a Defaulting Lender, the Borrower may obtain a Substitute Lender and execute an Assignment on behalf of such
Defaulting Lender at any time and without prior notice to such Defaulting Lender and cause its Loans and Commitments to be sold
and assigned at par.

 

(b)  Procedure.
To substitute such Affected Lender, the Borrower shall deliver a notice to the Administrative Agent and such Affected Lender. The
effectiveness of such substitution shall be subject to the delivery to the Administrative Agent by the Borrower (or, as may be
applicable, by the Substitute Lender) of (i) payment for the account of such Affected Lender, of, to the extent accrued through,
and outstanding on, the effective date for such substitution, all Obligations owing to such Affected Lender (including those that
will be owed because of such payment and all Obligations that would be owed to such Lender if it was solely a Lender in the Facility),
(ii) in the case of a payment in full of the Obligations owing to such Affected Lender in the Facility, payment of any amount that,
after giving effect to the termination of the Commitment of such Affected Lender, is required to be paid pursuant to Section 2.11
(as if such date was the Termination Date), and (iii) (A) payment of the assignment fee set forth in Section 11.2(c),
and (B) an assumption agreement in form and substance satisfactory to the Administrative Agent whereby the Substitute Lender shall,
among other things, agree to be bound by the terms of the Loan Documents and assume the Commitment of the Affected Lender.

 

(c)  Effectiveness.
Upon satisfaction of the conditions set forth in clause (b) above, the Administrative Agent shall record such substitution
or payment in the Register, whereupon (i) in the case of any payment in full in the Facility, such Affected Lender’s Commitments
in the Facility shall be terminated and (ii) in the case of any substitution in the Facility, (A) the Affected Lender shall sell
and be relieved of, and the Substitute Lender shall purchase and assume, all rights and claims of such Affected Lender under the
Loan Documents with respect to the Facility, except that the Affected Lender shall retain such rights expressly providing that
they survive the repayment of the Obligations and the termination of the Commitments, (B) the Substitute Lender shall become a
“Lender” hereunder having a Commitment in the Facility in the amount of such Affected Lender’s Commitment in
the Facility and (C) the Affected Lender shall execute and deliver to the Administrative Agent an Assignment to evidence such substitution
and deliver any Note in its possession with respect to the Facility; provided, that the failure of any Affected Lender to
execute any such Assignment or deliver any such Note shall not render such sale and purchase (or the corresponding assignment)
invalid.

 

Section
2.19        Defaulting Lenders.

 

(a)  Reallocation
of Defaulting Lender Commitment, Etc. If a Lender becomes, and during the period it remains, a Defaulting Lender, the following
provisions shall apply with respect to any obligations of such Defaulting Lender in respect of outstanding Letters of Credit:

 

(i)        the
obligations of such Defaulting Lender in respect of outstanding Letters of Credit will, subject to the limitation in the proviso
below, automatically be reallocated (effective on the day such Lender becomes a Defaulting Lender) among the Non-Defaulting Lenders
pro rata in accordance with their respective Commitments; provided that (a) no Default or Event of Default
shall be continuing at the time of such reallocation, (b) the sum of each Non-Defaulting Lender’s total obligations in respect
of outstanding Loans and Letters of Credit may not in any event exceed the Commitment of such Non-Defaulting Lender as in effect
at the time of such reallocation and (c) neither such reallocation nor any payment by a Non-Defaulting Lender pursuant thereto
will constitute a waiver or release of any claim the Borrower, the Administrative Agent, the L/C Issuer or any other Lender may
have against such Defaulting Lender or cause such Defaulting Lender to be a Non-Defaulting Lender;

 

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(ii)        to
the extent that any portion (the “unreallocated portion”) of the Defaulting Lender’s obligations in respect
of outstanding Letters of Credit cannot be so reallocated, by reason of the proviso in clause (i) above, the Borrower will, not
later than five Business Days after demand by the Administrative Agent (at the direction of the L/C Issuer), Cash Collateralize
the obligations of the Borrower to the L/C Issuer in respect of such Letters of Credit in an amount at least equal to the aggregate
amount of the unreallocated portion of such Defaulting Lender’s obligations in respect thereof; and

 

(iii)        any
amount paid by the Borrower for the account of a Defaulting Lender under this Agreement (whether on account of principal, interest,
fees, indemnity payments or other amounts) will not be paid or distributed to such Defaulting Lender, but will instead be retained
by the Administrative Agent in a segregated non-interest bearing account until (subject to Section 2.19(d)) the termination
of the Commitments and payment in full of all obligations of the Borrower hereunder and will be applied by the Administrative Agent,
to the fullest extent permitted by law, to the making of payments from time to time in the following order of priority: first
to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent under this Agreement, second to
the payment of any amounts owing by such Defaulting Lender to the L/C Issuer under this Agreement, third to the payment
of post-default interest and then current interest due and payable to the Lenders hereunder other than Defaulting Lenders, ratably
among them in accordance with the amounts of such interest then due and payable to them, fourth to the payment of fees then
due and payable to the Non-Defaulting Lenders hereunder, ratably among them in accordance with the amounts of such fees then due
and payable to them, fifth to pay principal and unreimbursed Letter of Credit participations funded by, and then due and
payable to, the Non-Defaulting Lenders hereunder ratably in accordance with the amounts thereof then due and payable to them, sixth
to the ratable payment of other amounts then due and payable to the Non-Defaulting Lenders, and seventh after the termination
of the Commitments and payment in full of all obligations of the Borrower hereunder, to pay amounts owing under this Agreement
to such Defaulting Lender or as a court of competent jurisdiction may otherwise direct.

 

(b)        Right
to Give Drawdown Notices. In furtherance of the foregoing, if any Lender becomes, and during the period it remains, a Defaulting
Lender, the L/C Issuer is hereby authorized by the Borrower (which authorization is irrevocable and coupled with an interest) to
give, in its discretion, through the Administrative Agent, Notices of Borrowing pursuant to Section 2.2 in such amounts
and in such times as may be required to (i) reimburse an outstanding L/C Reimbursement Obligation and/or (ii) Cash Collateralize
the obligations of the Borrowers in respect of outstanding Letters of Credit in an amount at least equal to the aggregate amount
of the obligations (contingent or otherwise) of such Defaulting Lender in respect of such Letter of Credit.

 

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(c)  Termination
of Defaulting Lender Commitment. The Borrower may terminate the unused amount of the Commitment of a Defaulting Lender upon
not less than three Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof),
and in such event the provisions of Section 2.19(a)(iii) will apply to all amounts thereafter paid by the Borrower
for the account of such Defaulting Lender that is a Lender under this Agreement (in each case whether on account of principal,
interest, fees, indemnity or other amounts), provided that such termination will not be deemed to be a waiver or release
of any claim the Borrower, the Administrative Agent, the L/C Issuer or any Lender may have against such Defaulting Lender.

 

(d)  Cure.
If the Borrower, the Administrative Agent and the L/C Issuer agree in writing in their discretion that a Lender that is a Defaulting
Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon
as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements
with respect to any amounts then held in the segregated account referred to in Section 2.19(a)), such Lender will,
to the extent applicable, purchase such portion of outstanding Loans of the other Lenders and/or make such other adjustments as
the Administrative Agent may determine to be necessary to cause each Lender’s obligations in respect of outstanding Loans
and Letters of Credit to be on a pro rata basis in accordance with their respective Commitments, whereupon such Lender
will cease to be a Defaulting Lender and will be a Non-Defaulting Lender; provided that no adjustments will be made retroactively
with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and provided
further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender’s
having been a Defaulting Lender.

 

Section
2.20         Increase of Commitments and Incremental Term Loans.
(a) On or before the Termination Date, the Borrower may by written
notice to the Administrative Agent elect to request the establishment of (i) incremental term loan facilities (each, an “Incremental
Term Facility”, and the commitments thereunder the “Incremental Term Loan Commitments”) and/or (ii)
incremental revolving credit commitments (each, an “Incremental Revolving Facility” and, together with the Incremental
Term Facilities, the “Incremental Facilities”; and the commitments thereunder, the “Incremental Revolving
Commitments” and, together with the Incremental Term Loan Commitments, collectively, the “Incremental Loan Commitments”).
Subject to the terms and conditions set forth in this Section 2.20 and to the conditions precedent to each Loan set forth
in Section 3.2 hereto, the Incremental Facilities shall be, in the case of any Incremental Term Facility, funded, or in
the case of any Incremental Revolving Facility, available on the relevant Increased Amount Date; provided that (x) the aggregate
amount of all Incremental Facilities shall not exceed the aggregate principal amount of $25,000,000 minus the aggregate
amount of Indebtedness incurred pursuant to Section 8.1(s) in excess of $125,00,000 outstanding on the respective Incremental
Amount Date and (y) each Incremental Facility shall be in an amount equal to at least $5,000,000. Each such notice shall specify
the date (each, an “Increased Amount Date”) on which the Borrower proposes that the Incremental Loan Commitments
shall be effective, which shall be a date not less than five (5) Business Days after the date on which such notice is delivered
to the Administrative Agent; provided that any Lender offered or approached to provide all or a portion of any Incremental
Loan Commitments may elect or decline, in its sole discretion, to provide such Incremental Loan Commitments.

 

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(b)          Such
Incremental Loan Commitments shall become effective as of the applicable Increased Amount Date; provided that (i) no Default
or Event of Default shall exist on such Increased Amount Date before or after giving effect to such Incremental Loan Commitments
and any Borrowings on such date; (ii) after giving effect to such Incremental Loan Commitments and any Borrowings on such date
each of the conditions set forth in Section 3.2 shall be satisfied; (iii) the Consolidated Total Lease Adjusted Leverage
Ratio after giving effect to such Incremental Loan Commitments, any Borrowings and use of proceeds thereof on such date on a Pro
Forma Basis shall not exceed 3.50:1.00; provided, that, for purposes of the calculations set forth in clause (iii), such
calculations with respect to Incremental Revolving Credit Commitments (the Loans thereunder, “Incremental Revolving Loans”)
shall assume a borrowing of the maximum amount of Loans available under such Incremental Revolving Credit Commitment and any other
Incremental Revolving Credit Commitments previously made pursuant to this Section 2.20); (iv) the Incremental Loans shall
share ratably in the Collateral; (v) except to the extent that the applicable Joinder Agreement otherwise provides, the Incremental
Loans that are term loans (“Incremental Term Loans”) shall share ratably in any mandatory prepayments of any
existing Term Loans; (vi) the maturity date of any Loan under such Incremental Facility shall not be earlier than the Termination
Date; (vii) the Weighted Average Life to Maturity applicable to any Incremental Term Facility shall be equal to or greater than
Weighted Average Life to Maturity of any existing Term Loan Facility; (viii) in the case of any increase in revolving commitments
and loans, the terms and provisions thereof shall be identical to those of the existing Commitments and Loans, respectively; (ix)
in the case of any increase in term loans, all terms and documentation with respect to any Incremental Term Facility (A) shall
be reasonably acceptable to the Administrative Agent, (B) will be as agreed between the Borrower and the Incremental Term Lenders
providing such Incremental Loans and (C) all other terms (other than initial borrowing conditions, amortization prior to maturity,
pricing and upfront fees and other economic terms) shall be substantially identical to the Facility (in the reasonable discretion
of the Administrative Agent) or otherwise reasonably acceptable to the Administrative Agent; (x) such Incremental Loans or Incremental
Loan Commitments shall be effected pursuant to one or more joinder agreements executed and delivered by the Borrower, the Administrative
Agent and one or more Incremental Lenders and setting forth the terms applicable to such Incremental Loans and Incremental Loan
Commitments (each, a “Joinder Agreement”); (xi) the Incremental Loans shall rank pari passu in right
of payment and security to the Facility; (xii) the Borrower shall deliver or cause to be delivered any customary legal opinions
or other documents reasonably requested by the Administrative Agent in connection with any such transaction, including any supplements
or amendments to the Security Documents providing for such Incremental Loans to be secured thereby and, if applicable, a Notice
of Borrowing; and (xiii) if the interest rate applicable to the Incremental Loans under any Incremental Facility shall be higher
than the corresponding interest rate on the Facility by 0.50% or more, then the interest rate applicable to the Facility shall
be increased to a level that is not less than 0.50% below such Incremental Facility (in each case, calculated for both the Incremental
Loans and the Facility, in each case, inclusive of any original issue discount and upfront fees (with original issue discount being
equated to interest based on an assumed four-year life to maturity with respect to the Facility and, if the relevant Incremental
Facility will have a maturity of less than four years, then based on the actual maturity for such Incremental Facility)); provided
that in determining interest rates applicable to the existing Loans or the applicable Incremental Facility, (x) customary
arrangement or commitment fees payable in connection with the Facility or to one or more arrangers (or their affiliates) of the
applicable Incremental Facility shall be excluded and (y) if the Eurodollar Rate in respect of such Incremental Facility includes
a floor, such increased amount shall be equated to interest margin for purposes of determining any increase to the applicable interest
margin under the Facility. For the avoidance of doubt, the rate of interest and the amortization schedule (if applicable) of any
Incremental Loan Commitments shall be determined by the Borrower and the applicable Incremental Lenders and shall be set forth
in the applicable Joinder Agreement.

 

(c)          On
any Increased Amount Date on which any Incremental Revolving Commitment or Incremental Term Loan Commitment becomes effective,
subject to the foregoing terms and conditions, each lender with an Incremental Revolving Commitment (each, an “Incremental
Revolving Lender”) or an Incremental Term Loan Commitment (each, an “Incremental Term Lender” and
together with the Incremental Revolving Lenders, collectively, the “Incremental Lenders”), to the extent not
already a Lender, shall become a Lender hereunder with respect to such Incremental Loan Commitment; provided that any financial
institution that becomes an Incremental Lender that is not already a Lender hereunder shall be reasonably satisfactory to the Administrative
Agent and the Borrower and, with respect to any Incremental Revolving Lender , to the L/C Issuer.

 

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(d)          Each
of the parties hereto hereby agrees that the Administrative Agent may take any and all action as may be reasonably necessary to
ensure that, upon the effectiveness of any Incremental Revolving Commitments, (i) all Loans made under such Incremental Revolving
Commitments are included in each Borrowing of outstanding Loans on a pro rata basis and (ii) the Lender providing such Incremental
Revolving Commitment shares ratably in the aggregate pro rata Outstandings under the Facility.

 

ARTICLE
III

CONDITIONS TO EFFECTIVENESS AND TO LOANS AND LETTERS OF CREDIT

 

Section
3.1           Conditions to Effectiveness. This Second Amended
and Restated Credit Agreement shall become effective as of the Amendment Effective Date if, on or before the Amendment Effective
Date, the following conditions have been satisfied:

 

(a) the
Administrative Agent shall have received:

 

(i)          counterparts
of this Agreement executed by the Lenders, the Borrower and each Guarantor;

 

(ii)         a
certificate of the secretary, assistant secretary, or other similar officer of each Loan Party certifying (A) as to the names and
signatures of each officer of such Loan Party authorized to execute and deliver any Loan Document, (B) that the Constituent Documents
of such Loan Party attached to such certificate are complete and correct copies of such Constituent Documents as in effect on the
date of such certification and (C) as to the resolutions of such Loan Party’s board of directors or other appropriate governing
body approving and authorizing the execution, delivery and performance of this Agreement and each Loan Document to which such Loan
Party is a party;

 

(iii)        duly
executed favorable opinions of counsel to the Loan Parties in New York, Delaware and Texas, each addressed to the Agents, the Arrangers,
the L/C Issuer and the Lenders and addressing such matters as the Administrative Agent may reasonably request and in form and substance
reasonably satisfactory to the Administrative Agent;

 

(iv)        a
certificate, dated as of the Amendment Effective Date, of the secretary, assistant secretary, or other similar officer of each
Loan Party certifying compliance with the conditions precedent set forth in Sections 3.2(b) and (c); and

 

(v)         evidence
that the Loan Parties shall have taken or caused to be taken such actions, including with respect to filings or recordings, reasonably
requested by the Administrative Agent in connection with this Agreement;

 

(b) Since
December 31, 2012, there shall not have occurred any Material Adverse Effect;

 

(c) substantially
concurrently with the Amendment Effective Date, the Borrower shall have paid, in full, all amounts of principal, interest and fees
owing to each Departing Lender under, and in compliance with the terms of, the Original Credit Agreement;

 

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(d) the
Borrower shall have paid, in full, all amounts of fees owing to each Lender in respect of the Revolving Credit Facility (as defined
in the Original Credit Agreement) in compliance with the terms of the Original Credit Agreement; and

 

(e)  There
shall have been paid to the Administrative Agent, for the respective accounts of the Agents, the Arrangers, the L/C Issuer and
the Lenders, as the case may be, all fees and all reimbursements of costs or expenses, in each case due and payable under any Loan
Document on or before the Amendment Effective Date, with such invoices received subsequent to the Amendment Effective Date to be
paid reasonably promptly.

 

Section
3.2           Conditions Precedent to Each Loan and Letter of
Credit. The obligation of each Lender on any date (including the Amendment Effective Date) to make any Loan and of the L/C
Issuer on any date (including the Amendment Effective Date) to Issue any Letter of Credit is subject to the satisfaction of each
of the following conditions precedent:

 

(a)  Request.
The Administrative Agent (and, in the case of any Issuance, the relevant L/C Issuer) shall have received, to the extent required
by Article II, a written, timely and duly executed and completed Notice of Borrowing or L/C Request, as applicable.

 

(b)  Representations
and Warranties. At the time of and immediately after giving effect to such Loan or, as applicable, such Issuance, the representations
and warranties set forth in Article IV and in the other Loan Documents shall be true and correct in all material respects (provided
that if any representation or warranty is by its terms qualified by concepts of materiality, such representation shall be true
and correct in all respects) on and as of such date with the same effect as though made on such date, except to the extent such
representations and warranties expressly related to an earlier date (in which case such representations and warranties shall have
been true and correct in all material respects (provided that if any representation or warranty is by its terms qualified by concepts
of materiality, such representation shall be true and correct in all respects) as of such earlier date).

 

(c)  No
Defaults. At the time of and immediately after giving effect to such Loan or, as applicable such Issuance, no Default shall
be continuing.

 

The representations and warranties set forth in any Notice of
Borrowing or L/C Request (or any certificate delivered in connection therewith) shall be deemed to be made again on and as of the
date of the relevant Loan or Issuance and the acceptance of the proceeds thereof or of the delivery of the relevant Letter of Credit.

 

Section
3.3           Defaulting Lenders. In addition to the other
conditions precedent herein set forth, if any Lender becomes, and during the period it remains, a Defaulting Lender, the L/C Issuer
will not be required to issue any Letter of Credit or to amend any outstanding Letter of Credit unless the L/C Issuer is satisfied
that any exposure that would result therefrom is eliminated or fully covered by the Commitments of the Non-Defaulting Lenders or
by Cash Collateralization or a combination thereof satisfactory to the L/C Issuer.

 

Section
3.4           Determinations of Initial Borrowing Conditions.
For purposes of determining compliance with the conditions specified in Section 3.1, each Lender shall be deemed to
be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Amendment
Effective Date, the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender
has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Amendment Effective Date.

 

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ARTICLE
IV

REPRESENTATIONS AND WARRANTIES

 

To induce the Lenders, the L/C Issuer and
each Agent to enter into the Loan Documents, each of Parent and the Borrower (and, to the extent set forth in any other Loan Document,
each other Loan Party) represents and warrants to each of them each of the following on and as of the Amendment Effective Date,
the date of each Borrowing and the date of each Issuance of a Letter of Credit:

 

Section
4.1           Corporate Existence; Compliance with Law. Each
Group Member (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization,
(b) is duly qualified to do business as a foreign entity and in good standing under the laws of each jurisdiction where such qualification
is necessary, except where the failure to be so qualified or in good standing would not, in the aggregate, reasonably be expected
to have a Material Adverse Effect, (c) has all requisite power and authority to own, pledge, mortgage and operate its property,
to lease or sublease any property it operates under lease or sublease and to conduct its business as now or currently proposed
to be conducted, except where the failure to have such power or authority would not reasonably be expected to have a Material Adverse
Effect, (d) is in compliance with its Constituent Documents, (e) is in compliance with all applicable Requirements of Law (other
than Environmental Laws, which are subject to Section 4.14), except where the failure to be in compliance would not
reasonably be expected to have a Material Adverse Effect and (f) has made all necessary registrations and filings with, and has
given all necessary notices to, each Governmental Authority having jurisdiction, to the extent required for such ownership, lease,
sublease, operation, occupation or conduct of business, including reimbursement by each Governmental Authority, except where the
failure to make such filings or give such notices would not, in the aggregate, reasonably be expected to have a Material Adverse
Effect.

 

Section
4.2           Loans. (a) Power and Authority. 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 therein (i) are within such Loan Party’s corporate or similar powers and, at the time of execution thereof,
have been duly authorized by all necessary corporate and similar action (including, if applicable, consent of holders of its Securities),
(ii) do not (A) contravene such Loan Party’s Constituent Documents, (B) violate any applicable Requirement of Law, (C) conflict
with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any Contractual
Obligation of any Loan Party or any of its Subsidiaries (including other Loan Documents) or any order, judgment or decree of any
Governmental Authority, other than those that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect
or (D) result in the imposition of any Lien (other than a Permitted Lien) upon any property of any Loan Party or any of its Subsidiaries
and (iii) do not require any Permit of, or filing with, any Governmental Authority or any consent of, or notice to, any Person,
other than (A) the filing of UCC financing statements, (B) filings with the United States Copyright Office and comparable offices
in foreign jurisdictions and equivalent filings in foreign jurisdictions, (C) recordation of the Mortgages, if any, (D) such as
have been made or obtained and are in full force and effect, (E) those as to which the failure to be obtained or made would not,
in the aggregate, reasonably be expected to have a Material Adverse Effect, and (F) filings or other actions listed on Schedule
4.2.

 

(b)  Due
Execution and Delivery. From and after its delivery to the Administrative Agent, each Loan Document has been duly executed
and delivered to the other parties thereto by each Loan Party party thereto, is the legal, valid and binding obligation of such
Loan Party and is enforceable against such Loan Party in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency,
moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) any
implied covenants of good faith and fair dealing.

 

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Section
4.3           Subsidiaries. (a) Set forth on Schedule 4.3
is a complete and accurate list showing, as of the Amendment Effective Date, for each Group Member and each joint venture of any
of them, its jurisdiction of organization, the number of shares of each class of Stock authorized (if applicable), the number outstanding
on the Amendment Effective Date and the number and percentage of the outstanding shares of each such class owned (directly or indirectly)
by Parent. All outstanding Stock of each of them has been validly issued, is fully paid and non-assessable (to the extent applicable)
and is owned beneficially and of record by a Group Member (or, in the case of the Borrower, Parent) free and clear of all Liens
other than the security interests created by the Loan Documents and, in the case of joint ventures, Permitted Liens. There are
no Stock Equivalents with respect to the Stock of any Group Member or any Subsidiary of any Group Member or any joint venture of
any of them, as of the Amendment Effective Date, except as set forth on Schedule 4.3.

 

(b)          As
of the Amendment Effective Date, there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or
commitments (other than stock options in Parent or any direct or indirect parent of Parent granted to employees or directors and
directors’ qualifying shares in Parent or any direct or indirect parent of Parent) of any nature relating to any Stock of
Parent, the Borrower or any of the Subsidiaries, except as set forth on Schedule 4.3.

 

Section
4.4           Financial Statements. (a) Each of (i) the audited
Consolidated balance sheet of the Borrower as at January 31, 2013 and the related Consolidated statements of income and cash flows
of the Borrower for the Fiscal Year then ended, certified by BDO Seidman, LLP and (ii) subject to the absence of footnote disclosure
and normal recurring year-end audit adjustments, the unaudited Consolidated balance sheets of the Borrower as at April 30, 2013
and the related Consolidated statements of income and cash flows of the Borrower for the six months then ended, copies of each
of which have been furnished to the Administrative Agent, fairly present in all material respects the Consolidated financial position,
results of operations and cash flow of the Borrower as at the dates indicated and for the periods indicated in accordance with
GAAP.

 

(b) None
of the Borrower or its Subsidiaries has any material liability or other obligation (including Guaranty Obligations), contingent
liabilities and liabilities for taxes, or any long-term leases or unusual forward or long-term commitments that are not reflected
in the financial statements referred to in clause (a)(i). During the period from December 31, 2012 to and including the Amendment
Effective Date there has been no disposition or acquisition by the Borrower or any of the Subsidiaries of any material part of
its business or property that is not reflected in the financial statements referred to in clause (a)(i) above.

 

(c) The
unaudited pro forma Consolidated balance sheet of the Borrower delivered to the Administrative Agent on or prior to the Amendment
Effective Date has been prepared as of April 30, 2013, the Consolidated financial condition of the Borrower, and the assumptions
expressed therein are reasonable based on the information available to the Borrower at such date and on the Amendment Effective
Date(it being understood that such assumptions are based on good faith estimates of certain items and the actual amount of such
items on the Amendment Effective Date is subject to change).

 

Section
4.5           Material Adverse Effect. Since January 31, 2013,
there have been no events, circumstances, or developments that would, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

 

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Section
4.6           Solvency. Both immediately before and immediately
after giving effect to (a) the Loans and Letters of Credit made or Issued on or prior to the date this representation and warranty
is made, (b) the disbursement and use of the proceeds of such Loans and (c) the payment and accrual of all transaction costs in
connection with the foregoing, both the Loan Parties taken as a whole and each Loan Party (other than any Immaterial Subsidiary)
individually are Solvent.

 

Section
4.7           Litigation. There are no pending (or, to the
knowledge of Parent and any Group Member, threatened in writing) actions, investigations, suits, proceedings or arbitrations, affecting
Parent or any of its Subsidiaries or any property of Parent or any of its Subsidiaries at law or at equity, or with, by or before
any Governmental Authority that involve the Obligations, the Loan Documents, the Letters of Credit and the other transactions contemplated
therein, or that would reasonably be expected to have, in the aggregate, a Material Adverse Effect. No Group Member is subject
to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal,
state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that,
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

Section
4.8           Taxes. Except as would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect, all federal, state, local and foreign income and other
tax returns, reports and statements (collectively, the “Tax Returns”) required to be filed by each Tax Affiliate
have been timely filed with the appropriate Governmental Authorities in all jurisdictions in which such Tax Returns are required
to be filed, all such Tax Returns are true and correct in all respects, and each Tax Affiliate has timely paid all taxes reflected
therein or otherwise due and payable (including in its capacity as a withholding agent) except for those taxes which are being
contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are maintained on the books
of the appropriate Tax Affiliate in accordance with GAAP. Except as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, no Tax Return filed by any Tax Affiliate is under audit or examination by any Governmental
Authority and no notice of such an audit or examination or any assertion of any claim for Taxes has been given or made by any Governmental
Authority to any Tax Affiliate.

 

Section
4.9           Margin Regulations. Neither Parent nor any Group
Member (i) owns, and no proceeds of any Loan or other extensions of credit hereunder will be used for the purpose of buying or
carrying, margin stock (within the meaning of Regulation U of the Federal Reserve Board) or (ii) is engaged principally, or as
one of its important activities, in the business of extending credit to others for the purpose of purchasing or carrying any such
margin stock in contravention of the provisions of the regulations of the Federal Reserve Board, including Regulation U or X of
the Federal Reserve Board. No Group Member owns any margin stock.

 

Section
4.10         No Burdensome Obligations; No Defaults. Neither Parent
nor any Group Member is a party to any Contractual Obligation, nor does any Group Member have Constituent Documents containing
obligations, and, to the knowledge of any Group Member, there are no applicable Requirements of Law, in each case the compliance
with which would reasonably be expected to have, in the aggregate, a Material Adverse Effect. No Group Member (and, to the knowledge
of each Group Member, no other party thereto) is in default under or with respect to any Contractual Obligation of any Group Member,
other than those that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

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Section
4.11         Investment Company Act. No Group Member (i) is a “registered
investment company” or a company “controlled” by a “registered investment company” or a “principal
underwriter” of a “registered investment company” as such terms are defined in, or subject to regulation under,
the Investment Company Act of 1940 or (ii) is subject to regulation under the Federal Power Act or under any other federal or state
statute or regulation which may limit its ability to incur Indebtedness or which may otherwise render all or any portion of the
Obligations unenforceable.

 

Section
4.12         Labor Matters. There are no strikes, work stoppages, slowdowns
or lockouts existing, pending (or, to the knowledge of any Group Member, threatened) against or involving any Group Member, except
for those that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule
4.12, as of the Amendment Effective Date, (a) there is no collective bargaining or similar agreement with any union, labor
organization, works council or similar representative covering any employee of any Group Member, (b) no petition for certification
or election of any such representative is existing or pending with respect to any employee of any Group Member and (c) no such
representative has sought certification or recognition with respect to any employee of any Group Member.

 

Section
4.13         ERISA. Schedule 4.13 sets forth, as of the Amendment
Effective Date, a complete and correct list of, and that separately identifies, (a) all Title IV Plans, (b) all Multiemployer Plans
and (c) all material Benefit Plans. Except for those that would not, in the aggregate, reasonably be expected to have a Material
Adverse Effect, (i) each Benefit Plan is in compliance with applicable provisions of ERISA, the Code and other Requirements of
Law, (ii) there are no existing or pending (or to the knowledge of any Group Member, threatened) claims (other than routine claims
for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or investigations involving any Benefit Plan
to which any Group Member incurs or otherwise has or would be reasonably likely to have an obligation or any Liability, (iii) no
ERISA Event has occurred or, to the knowledge of any Group Member, is reasonably expected to occur, (iv) as of the Amendment
Effective Date, no ERISA Event has occurred in connection with which obligations and liabilities (contingent or otherwise) of any
ERISA Affiliate remain outstanding, (v) no Title IV Plan has an Unfunded Current Liability in excess of $1,000,000 million, and
(vi) no ERISA Affiliate would have any Withdrawal Liability as a result of a complete withdrawal from any Multiemployer Plan
on the date this representation is made.

 

Section
4.14         Environmental Matters. Except as set forth on Schedule
4.14, (a) the operations, property and facilities of each Group Member are and have been in compliance with all applicable
Environmental Laws, including obtaining, maintaining and complying with all Permits required by any applicable Environmental Law,
other than non-compliances that, in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (b) no Group
Member is party to, and no Group Member and no property or facility currently (or to the knowledge of any Group Member previously)
owned, leased, operated, controlled or otherwise occupied by or for any Group Member is subject to or the subject of, any Contractual
Obligation or any pending (or, to the knowledge of any Group Member, threatened) order, action, investigation, suit, proceeding,
audit, claim, demand, dispute or notice of violation or of potential liability or similar written notice under or pursuant to any
Environmental Law other than those that, in the aggregate, would not reasonably be expected to have a Material Adverse Effect,
(c) no Lien in favor of any Governmental Authority securing, in whole or in part, Environmental Liabilities has attached to any
asset currently owned by any Group Member and, to the knowledge of any Group Member, no facts, circumstances or conditions exist
that would reasonably be expected to result in any such Lien attaching to any such assets, (d) no Group Member has caused or suffered
to occur a Release or threat of Release of Hazardous Materials at, on, under or from any property or facility currently owned,
leased, operated or controlled by any Group Member and each such property and facility is free of contamination by any Hazardous
Materials except for such Release or contamination that could not reasonably be expected to have, in the aggregate, a Material
Adverse Effect, (e) each Group Member has made available to the Administrative Agent copies of all existing material environmental
reports, reviews and audits and all material documents pertaining to actual or potential material Environmental Liabilities, in
each case to the extent such reports, reviews, audits and documents are in its possession, custody or control, and (f) no Group
Member has caused the Release of any Hazardous Materials or is otherwise liable for any Remedial Action at any property owned or
operated by any third-party, except for such Release or Remedial Action that could not reasonably be expected to have, in the aggregate,
a Material Adverse Effect.

 

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Section
4.15         Intellectual Property. Each Group Member owns or possesses,
or is licensed to use, all Intellectual Property necessary for the present conduct of its business, without any conflict (of which
the Borrower has been notified in writing) with the rights of others, and free from any burdensome restrictions on the present
conduct of the Business, except where such conflicts and restrictions would not reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect.

 

Section
4.16         Title; Real Property. (a) Each Group Member has good and
marketable fee simple title to or valid leasehold interests in, or easements or other limited property interests in, all its real
properties (including all owned real property subject to a Mortgage) except, with regards to owned real property, for defects in
title that do not materially (x) interfere with its ability to conduct its business as currently conducted or to utilize such properties
and assets for their intended purposes or (y) impair the value of such properties and assets and owns all personal property that
is purported to be owned by it, and except where the failure to have such title would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect, and none of such properties is subject to any Liens, except for Permitted Liens.
Each Group Member has valid title to, or leases or other rights to use, its personal property, except for such failures as would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except for the Lien granted to
the Collateral Agent pursuant to the Loan Documents and other Permitted Liens, each Group Member owns their respective personal
property free and clear of any and all Liens of others.

 

(b) No
Casualty Event. Neither the Borrower nor any of its Subsidiaries has received any notice of, nor has any knowledge of, the
occurrence or pendency of any Property Loss Event affecting all or any portion of its property. No Mortgage encumbers improved
real property that is located in an area that has been identified by the Secretary of Housing and Urban Development as an area
having special flood hazards within the meaning of the National Flood Insurance Act of 1968 unless flood insurance available under
such Act has been obtained in accordance (and to the extent required by) with Section 7.5.

 

(c) Mortgages.
Each Mortgage is effective to create, in favor of the Collateral Agent, for its benefit and the benefit of the Secured Parties,
a legal, valid and enforceable first priority Lien on, and security interest in, all of the applicable Loan Party’s right,
title and interest in and to the owned real property encumbered by such Mortgage and the proceeds thereof, subject only to Permitted
Liens or other Liens acceptable to the Administrative Agent and the Collateral Agent, and when the Mortgages are filed in the applicable
offices specified on Schedule 6 to the Perfection Certificate (or, in the case of any Mortgage executed and delivered after the
date hereof in accordance with the provisions of Section 7.10, when such Mortgage is filed in the offices specified
in the local counsel opinion delivered with respect thereto in accordance with the provisions of Section 7.10), such
Mortgage shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Party
in the real property encumbered by a Mortgage and the proceeds thereof, in each case prior and superior in right to any other person,
other than Liens permitted by such Mortgage.

 

(d) Set
forth on Schedule 4.16 is, as of the Amendment Effective Date, (i) a complete and accurate list of all real property owned
in fee simple by any Group Member or in which any Group Member owns a leasehold interest setting forth, for each such real property,
the current street address (including, where applicable, county, state and other relevant jurisdictions), the record owner thereof
(for any such owned real property) and (ii) for each such owned real property that the Administrative Agent has requested be subject
to a Mortgage or that is otherwise material to the business of any Group Member, each Contractual Obligation by any Group Member,
whether contingent or otherwise, to Sell such real property.

 

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Section
4.17         Full Disclosure. The information (other than projections,
estimates and information of a general economic nature) prepared or furnished by or on behalf of any Group Member in connection
with any Loan Document (including the information contained in any Financial Statement or Disclosure Document) or the consummation
of any other transaction contemplated therein, when taken as a whole as of the Amendment Effective Date (or the Closing Date with
respect to the Projections), does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements contained therein, in light of the circumstances when made, not misleading. The Projections and estimates
and information of a general economic nature prepared by or on behalf of any Group Member or any of its representatives and that
have been made available to any Lenders or any Agent in connection with any Loan Document (i) have been prepared in good faith
based upon assumptions believed by the Borrower to be reasonable as of the date thereof for the periods set forth therein (it being
understood that actual results may vary materially from the Projections), (ii) as of the date such Projections, estimates and information
were furnished to the Lenders and as of the Closing Date, reflect the contemplated related estimates by the Borrower of the future
Consolidated financial performance of the Borrower and the other information projected therein for the periods set forth therein
and (iii) as of the Amendment Effective Date, have not been modified in any material respect by the Borrower.

 

Section
4.18         Permits. The Group Members hold all Permits required to
conduct the Business as it is now being conducted. All Permits are valid, in force and effect, and unimpaired, except for such
Permits, the absence of which would not reasonably be expected to have a Material Adverse Effect.

 

Section
4.19         Anti-Terrorism Laws. No Loan Party or any of its Affiliates
or principals is in violation of any Requirement of Law relating to terrorism, sanctions or money laundering (collectively, “Anti-Terrorism
Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive
Order”), and the Patriot Act. No part of the proceeds of the Loans will be used, directly or indirectly, for any payments
to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone
else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation
of the United States Foreign Corrupt Practices Act of 1977, as amended.

 

Section
4.20         Insurance. Set forth on Schedule 4.20 is, as of
the Amendment Effective Date, a complete and accurate, in all material respects, list of all material insurance policies maintained
by each Loan Party, as well as a listing of the deductibles, coverage limits and term of each such policy.

 

ARTICLE
V

FINANCIAL COVENANTS

 

As of the dates and during the periods set
forth below, the Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) agrees with the Lenders,
the L/C Issuer and each Agent to each of the following, as long as any Obligation or any Commitment remains outstanding:

 

Section
5.1           Maximum Consolidated Total Lease Adjusted Leverage
Ratio. The Borrower shall not have, on the last day of any Fiscal Quarter, a Consolidated Total Lease Adjusted Leverage Ratio
greater than 4.25 to 1.00.

 

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Section
5.2           Maximum Capital Expenditures. The Borrower shall
not permit Capital Expenditures for the Group Members to exceed the Capital Expenditure Limitation for any Fiscal Year; provided,
that, in the event the Borrower does not expend the entire Capital Expenditure Limitation in any Fiscal Year, the Borrower may
carry forward for expenditure during the next succeeding two Fiscal Years an amount equal to the lesser of (x) such unexpended
portion of the Capital Expenditure Limitation for such Fiscal Year and (y) 50% of the Capital Expenditure Limitation for such Fiscal
Year.

 

ARTICLE
VI

REPORTING COVENANTS

 

The Borrower (and, to the extent set forth
in any other Loan Document, each other Loan Party) agrees with the Lenders, the L/C Issuer and each Agent to each of the following,
as long as any Obligation or any Commitment remains outstanding:

 

Section
6.1           Financial Statements. The Borrower shall deliver
to the Administrative Agent each of the following:

 

(a) Quarterly
Reports. As soon as available, and in any event within 50 days after the end of each of the first three Fiscal Quarters of
each Fiscal Year, commencing with the Fiscal Quarter ending July 31, 2011, the Consolidated unaudited balance sheet of the Borrower
as of the close of such Fiscal Quarter and related Consolidated statements of income and cash flow for such Fiscal Quarter and
that portion of the Fiscal Year ending as of the close of such Fiscal Quarter, setting forth in comparative form the figures for
the corresponding period in the prior Fiscal Year and the corresponding portion of the previous Fiscal Year, all in reasonable
detail, in each case certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the Consolidated
financial position, results of operations and cash flow of the Borrower as at the dates indicated and for the periods indicated
in accordance with GAAP (subject to the absence of footnote disclosure and normal year-end audit adjustments) (it being understood
that the delivery by the Borrower of quarterly reports on Form 10-Q of Holdings and its consolidated subsidiaries shall satisfy
the requirements of this Section 6.1(a) to the extent such quarterly reports include the information specified therein).

 

(b) Annual
Reports. As soon as available, and in any event within 100 days after the end of each Fiscal Year, the Consolidated balance
sheet of the Borrower as of the end of such year and related Consolidated statements of income, stockholders’ equity and
cash flow for such Fiscal Year, each prepared in accordance with GAAP, together with the following: (i) an opinion by the
Group Members’ Accountants that (x) such Consolidated Financial Statements fairly present in all material respects the Consolidated
financial position, results of operations and cash flow of the Borrower as at the dates indicated and for the periods indicated
therein in accordance with GAAP without qualification with respect to going concern or scope of audit or any like qualifications,
and (y) in the course of the regular audit of the businesses of the Borrower and its Subsidiaries, which audit was conducted in
accordance with the standards of the United States’ Public Company Accounting Oversight Board (or any successor entity),
such Group Members’ Accountants have obtained no knowledge that a Default in respect of the Financial Performance Covenants
is continuing or, if in the opinion of such Group Members’ Accountants such a Default is continuing, a statement as to the
nature thereof (which statement may be limited to accounting matters and may disclaim responsibility for legal interpretations);
and (ii) a summary of such financial statements setting forth in comparative form the corresponding figures for the prior
Fiscal Year, certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the Consolidated
financial position, results of operations and cash flow of the Borrower for such Fiscal Year in accordance with GAAP (it being
understood that the delivery by the Borrower of annual reports on Form 10-K of Holdings and its consolidated subsidiaries shall
satisfy the requirements of this Section 6.1(b) to the extent such annual reports include the information specified therein).

 

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(c) Compliance
Certificate. Together with each delivery of any Financial Statements pursuant to clause (a) or (b) above, a Compliance
Certificate duly executed by a Responsible Officer of the Borrower that, among other things, (i) for each Fiscal Quarter, shows
in reasonable detail the calculations used in determining the Consolidated Total Lease Adjusted Leverage Ratio, (ii) shows in reasonable
detail the calculation of the ratio of (x) the amount of Consolidated Total Assets at the end of the applicable Fiscal Quarter
to (y) the amount of Consolidated Total Assets as of October 30, 2010, and (iii) states that no Default is continuing as of the
date of delivery of such Compliance Certificate or, if a Default is continuing, states the nature thereof and the action that the
Borrower proposes to take with respect thereto.

 

(d) Corporate
Chart and Other Collateral Updates. As part of the Compliance Certificate delivered pursuant to clause (c) above for
Financial Statements delivered pursuant to clause (b) above, each in form and substance satisfactory to the Administrative
Agent, a certificate by a Responsible Officer of the Borrower that (i) the Corporate Chart attached thereto (or the last Corporate
Chart delivered pursuant to this clause (d)) is correct and complete as of the date of such Compliance Certificate, (ii)
the Loan Parties have delivered all documents (including updated schedules as to the acquisition of Intellectual Property or real
property) they are required to deliver pursuant to any Loan Document on or prior to the date of delivery of such Compliance Certificate
and (iii) complete and correct copies of all documents modifying any term of any Constituent Document of any Group Member or Joint
Venture thereof on or prior to the date of delivery of such Compliance Certificate have been delivered to the Administrative Agent
or are attached to such certificate.

 

(e) Intercompany
Loan Balances. Together with each delivery of any Compliance Certificate pursuant to clause (c) above, a summary of
the outstanding balances of all intercompany Indebtedness as of the last day of the Fiscal Quarter covered by such Financial Statement,
certified as complete and correct by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in connection
with such Financial Statements.

 

(f)  Audit
Reports, Management Letters, Etc. Together with each delivery of any Financial Statement for any Fiscal Year pursuant to clause
(b) above, copies of each final management letter, audit report or similar letter or report from any independent registered
certified public accountant (including the Group Members’ Accountants) in connection with such Financial Statements or any
audit thereof (excluding any reports the delivery of which to the Administrative Agent is prohibited by such certified public accountants)
and submitted to any Group Member (or such Group Member’s board of directors), each certified to be complete and correct
copies by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in connection with such Financial
Statements.

 

(g) Additional
Projections. As soon as available, and in any event not later than 30 days after the end of each Fiscal Year, (i) the annual
business plan of the Group Members for the Fiscal Year next succeeding such Fiscal Year and (ii) forecasts prepared by management
of the Borrower (A) for each Fiscal Quarter in such next succeeding Fiscal Year and (B) for each other succeeding Fiscal Year through
the Fiscal Year containing the Scheduled Termination Date, in each case including in such forecasts (x) a projected year-end Consolidated
balance sheet, income statement and statement of cash flows, (y) a statement of all of the material assumptions on which such forecasts
are based and (z) substantially the same type of financial information as that contained in the Projections, accompanied by the
statement of a Responsible Officer of the Borrower to the effect that such forecasts have been prepared in good faith based upon
assumptions believed by the Borrower to be reasonable as of the date thereof for the periods set forth therein, (it being understood
that actual results may vary materially from the Projections) and, promptly when available, any significant revisions of such business
plan or forecasts.

 

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(h) Management
Discussion and Analysis. Together with each delivery of any Compliance Certificate pursuant to clause (c) above, a summary
narrative discussion and analysis of the financial condition and results of operations of the Group Members for the Fiscal Year
(or the portion of the Fiscal Year then elapsed) and the previous Fiscal Year (or the corresponding period in the previous Fiscal
Year) (it being understood that the delivery by the Borrower of quarterly reports on Form 10-Q or annual reports on Form 10-K,
as applicable, of Holdings and its consolidated subsidiaries shall satisfy the requirements of this Section 6.1(h) to the extent
such reports include the information specified therein).

 

(i)  Insurance.
Together with each delivery of any Financial Statements for any Fiscal Year pursuant to clause (b) above, certified as complete
and correct by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in connection with such Financial
Statements, a report summarizing the insurance coverage (specifying type, amount and carrier) in effect for the Borrower and each
Loan Party and its Subsidiaries and containing such additional information as the Administrative Agent may reasonably specify.

 

(j)  Statements
of Reconciliation after Change in Accounting Principles. If, as a result of any change in accounting principles and policies
from those used in the preparation of the financial statements delivered pursuant to Section 3.1(d) of the Original
Credit Agreement, the consolidated financial statements of Parent and its Subsidiaries delivered pursuant to Section 6.1(a)
or 6.1(b) will differ in any material respect from the consolidated financial statements that would have been delivered
pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first
delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial
statements in form and substance satisfactory to Administrative Agent.

 

Section
6.2           Other Events. The Borrower shall give the Administrative
Agent notice of each of the following (which may be made by telephone if promptly confirmed in writing) promptly after any Responsible
Officer of the Borrower obtains actual knowledge of it: (a)(i) any Default and (ii) any event that would reasonably be expected
to have a Material Adverse Effect, specifying, in each case, the nature and anticipated effect thereof and any action proposed
to be taken in connection therewith, (b) the commencement of, or any material developments in, any action, investigation, suit,
proceeding, audit, claim, demand, order or dispute with, by or before any Governmental Authority affecting any Group Member or
any property of any Group Member which (i) if adversely determined would reasonably be expected to have a Material Adverse Effect
or (ii) seeks to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the
transactions contemplated by this Agreement, (c) the acquisition of any material real property by any Loan Party, and (d) any notice
of any loss of any material permit, accreditation, approval, authorization, license or franchise.

 

Section
6.3           Copies of Notices and Reports. The Borrower
shall promptly deliver to the Administrative Agent copies of each of the following: (a) all reports that the Borrower transmits
to its security holders generally, (b) all periodic reports, proxy statements and other documents that Holdings or any Loan Party
files with the Securities and Exchange Commission, the Financial Industry Regulatory Authority, any securities exchange or any
Governmental Authority exercising similar functions, (c) all press releases not made available directly to the general public and
(d) any material document transmitted or received pursuant to, or in connection with, any Contractual Obligation governing Indebtedness
in an aggregate principal amount in excess of $3.0 million of any Group Member.

 

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Section 6.4           [Reserved].

 

Section
6.5           ERISA Matters. The Borrower shall give the Administrative
Agent promptly, and in any event within 10 days, after any Responsible Officer of any Group Member knows (a) of any filing by any
Group Member or ERISA Affiliate of any notice of intent to terminate any Title IV Plan, if such termination would require material
additional contributions to be considered a standard termination under Section 4041(b) of ERISA, a copy of such notice, (b)
that a request for a minimum funding standard waiver under Section 412 of the Code or Section 302 of ERISA has been filed
with respect to any Title IV Plan or Multiemployer Plan (x) maintained or contributed to by any Group Member, or (y) maintained
or contributed to by any other ERISA Affiliate if the aggregate underfunding of such plan would be reasonably likely to result
in a material liability of any Group Member, or (c) that an ERISA Event has occurred that would reasonably be expected to result
in material liability to a Group Member, in any such case, a notice (which may be made by telephone if promptly confirmed in writing)
describing such ERISA Event or notice, waiver request and any action that such Group Member or ERISA Affiliate proposes to take
with respect thereto, together with a copy of any notice filed by such Group Member or ERISA Affiliate with the PBGC or the IRS
pertaining thereto.

 

Section
6.6           Environmental Matters. (a) The Borrower shall
provide the Administrative Agent notice of each of the following (which may be made by telephone if promptly confirmed by the Borrower
in writing) promptly after any Responsible Officer of any Group Member knows or has reason to know of it (and, upon reasonable
request of the Administrative Agent, documents and information in connection therewith): (i)(A) unpermitted material Releases,
(B) the receipt by any Group Member of any notice of violation of or potential liability or similar notice under, or the existence
of any condition that would reasonably be expected to result in violations of or liabilities under, any Environmental Law or (C)
the commencement of, or any material change to, any action, investigation, suit, proceeding, audit, claim, demand, dispute alleging
a violation of or liability under any Environmental Law, that, for each of clauses (A), (B) and (C) above
(and, in the case of clause (C), if adversely determined), in the aggregate for each such clause, would reasonably be expected
to result in Environmental Liabilities in excess of $500,000, (ii) the receipt by any Group Member of notification that any property
of any Group Member is subject to any Lien in favor of any Governmental Authority securing, in whole or in part, Environmental
Liabilities and (iii) any proposed acquisition or lease of real property (except as part of any Permitted Acquisition) if such
acquisition or lease would have a reasonable likelihood of resulting in aggregate Environmental Liabilities in excess of $500,000.

 

(b) Upon
request of the Administrative Agent, the Borrower shall provide the Administrative Agent a report containing an update as to the
status of any material environmental, health or safety compliance, hazard or liability issue identified in any document delivered
to any Secured Party pursuant to any Loan Document or as to any condition reasonably believed by the Administrative Agent to result
in material Environmental Liabilities.

 

Section
6.7           Labor Matters. The Borrower shall give the Administrative
Agent notice of (i) each of the following (which may be made by telephone if promptly confirmed by the Borrower in writing) promptly
after, and in any event within 30 days after any Responsible Officer of any Group Member knows or has reason to know of it: any
strikes, work stoppages, slowdowns, lockouts or other labor disputes existing, pending (or, to the knowledge of any Group Member,
threatened) against or involving any Group Member, except for those that would not, in the aggregate, reasonably be expected to
have a Material Adverse Effect and (ii) if not set forth on Schedule 4.12, (a) any collective bargaining or similar agreement
with any union, labor organization, works council or similar representative covering any employee of any Group Member, (b) any
petition for certification or election of any such representative existing or pending with respect to any employee of any Group
Member and (c) any such representative seeking certification or recognition with respect to any employee of any Group Member.

 

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Section
6.8           Other Information. (a) The Borrower shall provide
the Administrative Agent with such other documents and information with respect to the business, property, condition (financial
or otherwise), legal, financial or corporate or similar affairs or operations of any Group Member as the Administrative Agent (or
any Lender or the Collateral Agent through the Administrative Agent) may from time to time reasonably request (including with respect
to the reasons for any significant variations from the Projections for any period for which Financial Statements are delivered
pursuant to clauses (a) and (b) of Section 6.1).

 

(b) Borrower
will furnish to the Collateral Agent prompt written notice of any change (i) in any Loan Party’s corporate name, (ii) in
any Loan Party’s identity or corporate structure, (iii) in any Loan Party’s jurisdiction of organization or (iv) in
any Loan Party’s Federal Taxpayer Identification Number or state organizational identification number. Borrower agrees not
to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC or otherwise
that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected
security interest in all the Collateral as contemplated in the Loan Documents. Borrower also agrees promptly to notify the Collateral
Agent if any material portion of the Collateral is damaged or destroyed.

 

(c) Each
year, at the time of delivery of annual financial statements with respect to the preceding Fiscal Year pursuant to Section 6.1(b),
Borrower shall deliver to the Collateral Agent a certificate of its Responsible Officer (i) either confirming that there has been
no change in such information since the date of the Perfection Certificate delivered on the Closing Date or the date of the most
recent certificate delivered pursuant to this Section and/or identifying such changes and (ii) certifying that all UCC financing
statements (including fixture filings, as applicable) and all supplemental intellectual property security agreements or other appropriate
filings, recordings or registrations, have been filed of record in each governmental, municipal or other appropriate office in
each jurisdiction identified pursuant to clause (i) above (or in such Perfection Certificate) to the extent necessary to effect,
protect and perfect the security interests under the Loan Documents for a period of not less than 18 months after the date of such
certificate (except as noted therein with respect to any continuation statements to be filed within such period).

 

ARTICLE
VII

AFFIRMATIVE COVENANTS

 

The Borrower (and, to the extent set forth
in any other Loan Document, each other Loan Party) agrees with the Lenders, the L/C Issuer and each Agent to each of the following,
as long as any Obligation or any Commitment remains outstanding:

 

Section
7.1           Maintenance of Corporate Existence. The Borrower
shall cause each Group Member to (a) preserve and maintain its legal existence, except in the consummation of transactions expressly
permitted by Sections 8.4 and 8.7 and (b) preserve and maintain its rights (charter and statutory), privileges,
franchises and Permits necessary or desirable in the conduct of its business, except in the case of this clause (b), where
the failure to do so would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

 

Section
7.2           Compliance with Laws, Etc. The Borrower shall
cause each Group Member to comply with all applicable Requirements of Law, Contractual Obligations, and Permits, except for such
failures to comply that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. The Borrower shall
cause each Group Member to maintain or obtain all qualifications and Permits now held or hereafter required to be held by such
Group Member the loss, suspension or revocation of which, or failure to obtain or renew which, would reasonably be expected to
have, either individually or in the aggregate, a Material Adverse Effect.

 

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Section
7.3           Payment of Obligations. Parent shall, and the
Borrower shall cause each Group Member to, (i) pay or discharge before they become delinquent (a) all material claims, Taxes, assessments,
charges and levies imposed by any Governmental Authority and (b) all other lawful claims that if unpaid would, by the operation
of applicable Requirements of Law, become a Lien upon any property of any Group Member, except, in each case, for those whose amount
or validity is being contested in good faith by proper proceedings diligently conducted and for which adequate reserves are maintained
on the books of such Group Member in accordance with GAAP, (ii) perform all obligations under any Contractual Obligation by which
Parent or such Group Member or any of its Subsidiaries is bound, or to which it or any of its properties is subject, except where
the failure to perform would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect
and (iii) except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, timely
file all tax returns.

 

Section
7.4           Maintenance of Property. The Borrower shall
cause each Group Member to maintain and preserve (a) in good working order and condition all of its property necessary in the conduct
of its business and (b) all rights, permits, licenses, approvals and privileges (including all Permits) necessary, used or useful,
whether because of its ownership, lease, sublease or other operation or occupation of property or other conduct of its business,
and shall make all necessary or appropriate filings with, and give all required notices to, Government Authorities, except for
such failures to maintain and preserve the items set forth in clauses (a) and (b) above that would not, in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

Section
7.5           Maintenance of Insurance. The Borrower shall
cause each Group Member to (a) maintain or cause to be maintained in full force and effect all policies of insurance of any kind
with respect to the property and businesses of such Group Member (including, if applicable, policies of life, fire, theft, product
liability, public liability, Flood Insurance, property damage, other casualty, employee fidelity, workers’ compensation,
business interruption and employee health and welfare insurance) with financially sound and reputable insurance companies or associations
(in each case that are not Affiliates of the Borrower) of a nature and providing such coverage and deductibles (including replacement
value casualty insurance) as is customarily carried by businesses of the size and character of the business of such Group Members
and operating in the same or similar locations as the Group Members, (b) maintain or cause to be maintained in full force and effect
Flood Insurance with financially sound and reputable insurance companies or associations (in each case that are not Affiliates
of the Borrower) and (c) cause all such insurance relating to any property or business of any Loan Party to name the Administrative
Agent and the Collateral Agent on behalf of the Secured Parties as additional insured or loss payee, as appropriate, in form and
substance reasonably acceptable to Administrative Agent and, to the extent available, to provide that no cancellation, material
addition in amount or material change in coverage shall be effective until after 10 days’ notice thereof to the Administrative
Agent and the Collateral Agent. Notwithstanding the requirement in subsection (a) above, except to the extent required by any Requirement
of Law, Federal Flood Insurance shall not be required for (x) real property not located in a special flood hazard area, or (y)
real property located in a special flood hazard area in a community that does not participate in the National Flood Insurance Program.

 

Section
7.6           Keeping of Books. The Borrower shall cause each
Group Member to keep proper books of record and account, in which full, true and correct entries shall be made in accordance with
GAAP and all other applicable Requirements of Law of all financial transactions and the assets and business of such Group Member.

 

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Section
7.7           Access to Books and Property. The Borrower shall
cause each Group Member to permit the Administrative Agent, any Arranger and any Related Person of the Administrative Agent or
any Arranger and, upon the occurrence of an Event of Default, the Lenders, as often as reasonably requested, at any reasonable
time during normal business hours and with reasonable advance notice (except that, during the continuance of an Event of Default,
no such notice shall be required) to (a) visit and inspect the property of such Group Member and examine and make copies of and
abstracts from, the corporate (and similar), financial, operating and other books and records of such Group Member, (b) discuss
the affairs, finances and accounts of such Group Member with any officer or director of such Group Member, and (c) communicate
directly with any registered certified public accountants of such Group Member (subject to reasonable and customary requirements
of confidentiality, including requirements imposed by law and reasonable and customary requirements imposed by contract). The Borrower
shall cause each Group Member to authorize its respective registered certified public accountants to communicate directly with
the Administrative Agent, the Arrangers, the Lenders and their Related Persons and to disclose to the Administrative Agent, the
Arrangers, the Lenders and their Related Persons all financial statements and other documents and information as they might have
and the Administrative Agent, any Arranger or any Lender reasonably requests with respect to such Group Member. Prior to the occurrence
of an Event of Default, the Borrower shall only be obligated to pay or reimburse the reasonable fees, costs and expenses of the
Administrative Agent and Arrangers associated with one annual visit and inspection.

 

Section
7.8           Environmental. The Borrower shall cause each
Group Member to comply with, and maintain its property and facilities, whether owned, leased, subleased, operated, occupied or
otherwise controlled, in compliance with, all applicable Environmental Laws (including by implementing any Remedial Action necessary
to achieve such compliance or that is required by any Governmental Authority) except for failures to comply that would not, in
the aggregate, reasonably be expected to have a Material Adverse Effect. Without limiting the foregoing, if an Event of Default
is continuing or if the Administrative Agent at any time has a reasonable basis to believe that there exist violations of Environmental
Laws by any Group Member or that there exist any Environmental Liabilities, in each case, that would reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect, then the Borrower shall cause each Group Member to, promptly
upon receipt of a request from the Administrative Agent, cause the performance of, and allow the Administrative Agent and its Related
Persons access to any property or facility which is the subject of such Event of Default or belief for the purpose of conducting,
such environmental audits and assessments, including sampling of soil, surface water, groundwater or other environmental media,
and cause the preparation of such reports, in each case as the Administrative Agent may from time to time reasonably request. Such
audits, assessments and reports, to the extent not conducted by the Administrative Agent or any of its Related Persons, shall be
conducted and prepared by reputable environmental consulting firms reasonably acceptable to the Administrative Agent and shall
be in form and substance reasonably acceptable to the Administrative Agent.

 

Section
7.9           Use of Proceeds. The proceeds of the Loans shall
be used by the Borrower (and, to the extent distributed to them by the Borrower, each other Group Member) solely (i) for working
capital and general corporate purposes, (ii) to refinance existing indebtedness, (iii) to make Permitted Investments (including
Permitted Acquisitions) and capital expenditures and (iv) to make permitted Restricted Payments in connection with the Specified
Stock Repurchase. No portion of the proceeds of any Loan shall be used in any manner that causes or might cause such Loan or application
of such proceeds to violate Regulation T, Regulation U or Regulation X of the Federal Reserve Board of any other regulation thereof.

 

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Section
7.10         Additional Collateral and Guaranties. To the extent not
delivered to the Administrative Agent on or before the Closing Date (including in respect of after-acquired property and Persons
that become Subsidiaries of any Loan Party after the Closing Date), the Borrower shall cause each Group Member to promptly (and
in any event within 30 days of acquisition or formation thereof) do each of the following, unless otherwise agreed by the Administrative
Agent:

 

(a) deliver
to the Administrative Agent such modifications to the terms of the Loan Documents (or, to the extent applicable as determined by
the Administrative Agent or the Collateral Agent, such other documents), in each case in form and substance reasonably satisfactory
to the Administrative Agent and as the Administrative Agent deems necessary or advisable in order to ensure the following:

 

(i)          each
Wholly Owned Subsidiary of any Loan Party that is not a Foreign Subsidiary shall guaranty, as primary obligor and not as surety,
the payment of the Obligations of the Borrower;

 

(ii)         each
Subsidiary of any Loan Party that has or enters into any Guaranty Obligation with respect to Indebtedness of any Loan Party shall
guaranty, as primary obligor and not as surety, the payment of the Obligations of the Borrower;

 

(iii)        so
long as the relevant Permitted Acquisition shall occur, each Proposed Acquisition Target with regard to such Permitted Acquisition
and each Subsidiary thereof shall guaranty, as primary obligor and not as surety, the payment of the Obligations of the Borrower;
and

 

(iv)        each
Loan Party (including any Person required to become a Guarantor pursuant to clause (i), (ii) or (iii) above)
shall effectively grant to the Collateral Agent, for the benefit of the Secured Parties, a valid and enforceable security interest
in all of its owned property constituting Collateral as security for the Obligations of such Loan Party;

 

provided, that, unless the Borrower and the Administrative
Agent otherwise agree, in no event shall (x) the Loan Parties, individually or collectively, be required to pledge in excess of
66% of the outstanding Voting Stock of any Foreign Subsidiary, or (y) a security interest be required to be granted in any property
of any Foreign Subsidiary as security for any Obligation;

 

(b) deliver
to the Collateral Agent all documents representing all Stock, Stock Equivalents and other Securities pledged pursuant to the documents
delivered pursuant to clause (a) above, together with undated powers or endorsements duly executed in blank;

 

(c) deliver
to the Administrative Agent (x) upon its request an appraisal complying with FIRREA (so long as it is reasonably determined by
the Administrative Agent in consultation with the Borrower that such an appraisal is required pursuant to the terms of FIRREA),
(y) within 30 days of receipt of notice from the Collateral Agent that any fee interest in real property of the Loan Parties is
located in a Special Flood Hazard Area, evidence, which may be in the form of a flood insurance certificate, of Federal Flood Insurance
as required by Section 7.5, and (z) upon request of the Administrative Agent, deliver to it within 60 days of such
request (or such longer period as the Administrative Agent may agree to) a Mortgage on any owned real property with a value at
the time of acquisition in excess of $2.0 million, located in the United States, and owned by any Loan Party, together with all
Mortgage Supporting Documents relating thereto;

 

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(d) take
all other actions necessary to ensure the validity or continuing validity of any guaranty for any Obligation or any Lien securing
any Obligation, to perfect, maintain, evidence or enforce any Lien securing any Obligation or to ensure such Liens have the same
priority as that of the Liens on similar Collateral set forth in the Loan Documents executed on the Closing Date, including the
filing of UCC financing statements in such jurisdictions as may be required by the Loan Documents or applicable Requirements of
Law or as the Administrative Agent or the Collateral Agent may otherwise reasonably request; and

 

(e) deliver
to the Administrative Agent, the Collateral Agent and the Lender Parties (i) an updated Perfection Certificate with respect to
any new Guarantor, (ii) all documents set forth in Sections 3.1(a)(iv) and (v) as applicable with respect to each new Guarantor
and (iii) if requested by the Administrative Agent, legal opinions relating to the matters described in clauses (a) and
(b) of this Section 7.10 and the Mortgages described in clause (c) of this Section 7.10,
which opinions shall be as reasonably required by, and in form and substance and from counsel reasonably satisfactory to, the Administrative
Agent.

 

The requirements of this Section 7.10:
(i) need not be satisfied with respect to any real property held by the Borrower or any of its Subsidiaries as a lessee under
a lease; (ii) do not apply to any Stock (other than Stock of any domestic Wholly Owned Subsidiary) acquired after the Closing
Date in accordance with this Agreement if, and to the extent that, and for so long as, (A) doing so would violate applicable law
or a Contractual Obligation binding on such Stock, and (B) such law or Contractual Obligation existed at the time of the acquisition
thereof and was not created or made binding on such Stock in contemplation of or in connection with the acquisition of such Subsidiary,
(iii) do not apply to any assets acquired after the Closing Date, to the extent that, and for so long as, taking such actions would
violate a Contractual Obligation binding on such assets that existed at the time of the acquisition thereof and was not created
or made binding on such assets in contemplation or in connection with the acquisition of such assets (except in the case of assets
acquired with Indebtedness permitted pursuant to Section 8.1(c) that is secured by a Lien permitted pursuant to Section 8.2(d));
provided, that, in the case of clauses (ii) and (iii), upon the reasonable request of the Administrative Agent or the Collateral
Agent, the Borrower shall, and shall cause any applicable Subsidiary to, use commercially reasonable efforts to have waived or
eliminated any such Contractual Obligation (other than a Contractual Obligation of the type described in such clauses (ii) and
(iii) in respect of the Stock or assets of a Joint Venture) and (iv) with respect to clause (a)(iii) above only, do not
apply to any Foreign Subsidiary acquired after the Closing Date by any Loan Party.

 

ARTICLE
VIII

NEGATIVE COVENANTS

 

The Borrower (and, to the extent set forth
in any other Loan Document, each other Loan Party) agrees with the Lenders, the L/C Issuer and each Agent to each of the following,
as long as any Obligation or any Commitment remains outstanding:

 

Section
8.1           Indebtedness. The Borrower shall cause each
Group Member not to directly or indirectly incur or otherwise remain liable with respect to or responsible for any Indebtedness
except for the following:

 

(a) the
Obligations;

 

(b) Indebtedness
existing on the date hereof and set forth on Schedule 8.1, together with any Permitted Refinancing of any Indebtedness permitted
hereunder in reliance upon this clause (b);

 

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(c) Indebtedness
consisting of Capitalized Lease Obligations (other than with respect to a lease entered into as part of a Sale and Leaseback Transaction)
and Purchase Money Indebtedness, in each case incurred by any Group Member to finance the acquisition, repair, lease, improvement
or construction of fixed or capital assets of such Group Member, together with any Permitted Refinancing of any Indebtedness permitted
hereunder in reliance upon this clause (c); provided, that (i) the aggregate outstanding principal amount of all
such Indebtedness incurred under this clause (c) shall not exceed the greater of (A) $10.0 million and (B) an amount equal
to (1) $10.0 million multiplied by (2) the ratio of (x) the amount of Consolidated Total Assets as of the end of the Fiscal
Quarter immediately prior to the date of such incurrence for which financial statements have been delivered pursuant to Section 6.1
to (y) the amount of Consolidated Total Assets as of October 30, 2010 and (ii) such Indebtedness is incurred prior to or within
120 days after the acquisition, lease, repair, improvement, or construction of the respective asset;

 

(d) Capitalized
Lease Obligations arising under Sale and Leaseback Transactions permitted hereunder in reliance upon Section 8.4(b)(ii);

 

(e) Indebtedness
of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary, provided, that (i) Indebtedness
of any Subsidiary that is not a Loan Party to any Loan Party shall be subject to Section 8.3(e) (including, without
limitation, the requirement that such Indebtedness be evidenced by Pledged Notes pledged by such Loan Party as Collateral pursuant
to the Guaranty and Security Agreement), and (ii) Indebtedness of the Borrower to any Subsidiary and Indebtedness of any other
Loan Party to any Subsidiary that is not a Loan Party shall be subordinated to the Obligations on terms reasonably satisfactory
to the Administrative Agent;

 

(f)  obligations
under Hedging Agreements and Secured Hedging Documents entered into for the sole purpose of hedging in the normal course of business
and consistent with industry practices, and customary obligations entered into in connection with accelerated stock repurchase
programs otherwise permitted hereunder;

 

(g) (i)
Guaranty Obligations of any Group Member that is a Loan Party with respect to Indebtedness permitted hereunder of any other Group
Member that is a Loan Party and (ii) Guaranty Obligations of any Group Member that is not a Loan Party with respect to Indebtedness
permitted hereunder of any other Group Member;

 

(h) [reserved];

 

(i)  Indebtedness
owed to (including obligations in respect of letters of credit or bank guarantees or similar instruments for the benefit of) any
Person providing workers’ compensation, health, disability or other employee benefits or property, casualty or liability
insurance to the Borrower or any Subsidiary, pursuant to reimbursement or indemnification obligations to such Person (in each case
other than for an obligation for money borrowed), provided that upon the incurrence of Indebtedness with respect to reimbursement
obligations regarding workers’ compensation claims, such obligations are reimbursed not later than 30 days following such
incurrence;

 

(j)  Indebtedness
in respect of performance bonds, bid bonds, appeal bonds, surety bonds, financial assurances and completion guarantees and similar
obligations, in each case provided in the ordinary course of business (in each case other than for an obligation for money borrowed),
including those incurred to secure health, safety and environmental obligations in the ordinary course of business;

 

(k) Indebtedness
arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient
funds in the ordinary course of business or other cash management services in the ordinary course of business, provided,
that (x) such Indebtedness (other than credit or purchase cards) is extinguished within ten Business Days of its incurrence, and
(y) such Indebtedness in respect of credit or purchase cards is extinguished within 60 days from its incurrence;

 

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(l)  (i)
Indebtedness of a Subsidiary acquired after the Amendment Effective Date or a Person merged into or consolidated with the Borrower
or any Subsidiary after the Amendment Effective Date and Indebtedness assumed in connection with the acquisition of assets, which
Indebtedness in each case, exists at the time of such acquisition, merger or consolidation and is not created in contemplation
of such event, and where such acquisition, merger or consolidation is permitted by this Agreement, and (ii) any Permitted Refinancing
incurred to refinance such Indebtedness; provided, that (x) the aggregate outstanding principal amount of such Indebtedness
incurred under this clause (l) at the time of, and after giving effect to, such acquisition, merger or consolidation, such
assumption, or such incurrence, as applicable, shall not exceed the greater of (A) $10.0 million and (B) an amount equal to (1)
$10.0 million multiplied by (2) the ratio of (I) the amount of Consolidated Total Assets as of the end of the Fiscal Quarter
immediately prior to the date of such acquisition, merger or consolidation, such assumption or such incurrence, as applicable,
for which financial statements have been delivered pursuant to Section 6.1 to (II) the amount of Consolidated Total
Assets as of October 30, 2010 and (y) the Borrower shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants
as of the last day of the last Fiscal Quarter for which Financial Statements have been delivered hereunder after giving effect
to such Indebtedness;

 

(m)  other
Indebtedness of the Borrower or any Subsidiary, in an aggregate outstanding principal amount that at the time of, and after giving
effect to, the incurrence thereof, would not exceed $15,000,000;

 

(n) Indebtedness
arising from agreements of the Borrower or any Subsidiary providing for indemnification, adjustment of purchase or acquisition
price or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a
Subsidiary otherwise permitted under this Agreement, other than Guaranty Obligations with respect to Indebtedness incurred by any
Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition;

 

(o) Indebtedness
consisting of the financing of insurance premiums in the ordinary course of business and other than for an obligation for money
borrowed;

 

(p) all
premium (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on
obligations described in and permitted by clauses (a) through (n) above;

 

(q) Indebtedness
consisting of Junior Capital; provided, that after giving effect to the incurrence thereof, the Borrower shall be in compliance
on a Pro Forma Basis with the Financial Performance Covenants as of the last day of the last Fiscal Quarter for which Financial
Statements have been delivered hereunder after giving effect to such Indebtedness;

 

(r)  Unsecured
Indebtedness; provided, that after giving effect to the incurrence thereof, the Borrower shall have a Consolidated Total
Lease Adjusted Leverage Ratio not exceeding 4.00:1.00 calculated on a Pro Forma Basis; and

 

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(s) Secured
Indebtedness in an aggregate outstanding principal amount not in excess of $150,000,000 minus the aggregate amount of Incremental
Facilities incurred pursuant to Section 2.20, which may be secured on a pari passu basis to the Facility subject
to intercreditor documentation customary for pari passu facilities and reasonably acceptable to the Administrative Agent;
provided, that (i) after giving effect to the incurrence thereof, the Borrower shall have a Consolidated Total Lease Adjusted
Leverage Ratio not exceeding 3.50:1.00 calculated on a Pro Forma Basis, (ii) no Default or Event of Default shall exist before
or after the incurrence of such Indebtedness; (iii) the maturity date of such Indebtedness shall not be earlier than the Termination
Date; (iv) such Indebtedness shall not require scheduled amortization greater than 1% per annum of the original principal
amount of such Indebtedness and (v) the restrictive covenants and events of default under such Indebtedness shall not be more restrictive
to the Loan Parties in any material respect, than the terms of the Facility unless the Lenders under the Facility also receive
the benefit of the more restrictive terms.

 

Section
8.2           Liens. No Group Member shall incur, maintain
or otherwise suffer to exist any Lien upon or with respect to any of its property, whether now owned or hereafter acquired, or
assign any right to receive income or profits, except for the following:

 

(a) Liens
created pursuant to any Loan Document;

 

(b) Customary
Permitted Liens of Group Members;

 

(c) Liens
existing on the date hereof and either set forth on Schedule 8.2 or, to the extent not listed in Schedule 8.2, where
such Liens secure obligations not exceeding $150,000 in the aggregate; provided, that such Liens shall secure only those
obligations that they secure on the Amendment Effective Date (and extensions, renewals and refinancings of such obligations permitted
by Section 8.1(b)) and shall not subsequently apply to any other property or assets of the Borrower or any Subsidiary;

 

(d) Purchase
Money Liens on the property of the Borrower or any of its Subsidiaries securing Indebtedness permitted hereunder in reliance upon
Section 8.1(c); provided, that (i) such Liens exist prior to the acquisition of, or attach substantially simultaneously
with, or within 120 days after, the acquisition, repair, improvement or construction of, such property financed, whether directly
or through a Permitted Refinancing, by such Indebtedness, and (ii) such Liens do not extend to any property of any Group Member
other than the property (and proceeds thereof) acquired or built, or the improvements or repairs, financed, whether directly or
through a Permitted Refinancing, by such Indebtedness (other than to accessions to such equipment or other property or improvements
but not to other parts of the property to which any such improvements are made); and provided, further, that individual
financings of equipment provided by a single lender may be cross-collateralized to other financings of equipment provided solely
by such lender;

 

(e) Liens
on the property of the Borrower or any of its Subsidiaries securing the Permitted Refinancing of any Indebtedness secured by any
Lien on such property permitted hereunder in reliance upon clause (c) or (d) above or this clause (e) without
any change in the property subject to such Liens; provided, that (i) if the Indebtedness subject to such Permitted Refinancing
is secured by any collateral (whether equally and ratably with, or junior to, the Secured Parties or otherwise), such Permitted
Refinancing may be secured by such collateral (including in respect of Indebtedness of any Group Member (other than a Loan Party)
that is otherwise permitted under this Agreement, any collateral owned by such Group Member pursuant to after-acquired property
clauses contained in the agreement governing such Indebtedness being refinanced as in effect at the time of the incurrence of such
Indebtedness, to the extent any such collateral secured such Indebtedness) on terms no less favorable to the Secured Parties than
those contained in the documentation governing the Indebtedness being Refinanced and (ii) if the Lien securing such Indebtedness
subject to such Permitted Refinancing is subordinated to the Lien securing the Obligations under this Agreement, such Lien shall
be subordinated to the Liens securing the Obligations on terms at least as favorable to the Lenders as those contained in the documentation
governing the Lien securing such Indebtedness subject to such Permitted Refinancing;

 

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(f)  any
Lien on any property or asset of the Borrower or any Subsidiary securing Indebtedness or Permitted Refinancing Indebtedness permitted
by clause (l) of Section 8.1, provided, that such Lien (i) does not apply to any other property or assets
of the Borrower or any of the Subsidiaries not securing such Indebtedness at the date of the acquisition of such property or asset
(other than after acquired property subjected to a Lien securing Indebtedness and other obligations incurred prior to such date
and which Indebtedness and other obligations are permitted hereunder that require a pledge of after acquired property, it being
understood that such requirement shall not be permitted to apply to any property to which such requirement would not have applied
but for such acquisition), (ii) such Lien is not created in contemplation of or in connection with such acquisition, and (iii)
in the case of a Lien securing Permitted Refinancing, if the Indebtedness being refinanced is secured by any collateral (whether
equally and ratably with, or junior to, the Secured Parties or otherwise), such Permitted Refinancing may be secured by such collateral
(including in respect of Indebtedness of any Group Member (other than a Loan Party) that is otherwise permitted under this Agreement
only, any collateral owned by such Group Member pursuant to after-acquired property clauses contained in the agreement governing
such Indebtedness being refinanced as in effect at the time of the incurrence of such Indebtedness, to the extent any such collateral
secured such Indebtedness) on terms no less favorable to the Secured Parties than those contained in the documentation governing
the Indebtedness being Refinanced;

 

(g) Liens
on any property of the Borrower or any of its Subsidiaries securing any of their Indebtedness or their other liabilities; provided,
that (i) such property shall not have an aggregate value of more than $1.0 million at any time, (ii) the aggregate outstanding
principal amount of all such Indebtedness and other liabilities shall not exceed $1.0 million at any time and (iii) such Liens
shall be subordinated to the Liens securing the Obligations on customary terms pursuant to an intercreditor agreement reasonably
satisfactory to the Administrative Agent;

 

(h) Liens
arising out of capitalized lease transactions permitted under Section 8.4(b)(ii) securing Indebtedness permitted hereunder
in reliance upon Section 8.1(d), so long as such Liens attach only to the property sold and being leased in such transaction
and any accessions thereto or proceeds thereof and related property; and

 

(i)  Liens
securing Indebtedness permitted under Section 8.1(s).

 

Section
8.3           Investments. The Borrower shall cause each Group
Member not to make or maintain, directly or indirectly, any Investment except for the following:

 

(a) Investments
existing on the date hereof and set forth on Schedule 8.3;

 

(b) Investments
in cash and Cash Equivalents;

 

(c) (i)
endorsements for collection or deposit in the ordinary course of business consistent with past practice, (ii) extensions of trade
credit arising or acquired in the ordinary course of business and (iii) Investments received in settlements in the ordinary course
of business of such extensions of trade credit;

 

(d) Investments
made as part of a Permitted Acquisition;

 

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(e) Investments
by (i) any Loan Party (other than Parent) in any other Loan Party (other than Parent), (ii) [reserved], or (iii) (x) any Loan Party
in any Group Member that is not a Loan Party or (y) any Group Member in any Joint Venture; provided, that (A) any Investment
consisting of loans or advances to any Loan Party above shall be subordinated in full to the payment of the Obligations of such
Loan Party on terms and conditions satisfactory to the Administrative Agent, (B) any Investments consisting of loans or advances
by any Loan Party pursuant to clause (iii) above shall be evidenced by Pledged Notes pledged by such Loan Party as
Collateral pursuant to the Guaranty and Security Agreement; and (C) in the case of any Investment pursuant to clause (iii)
above, (I) before and after giving effect to such Investment, no Default or Event of Default be continuing and (II) the Borrower
shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the last day of the most recent Fiscal
Quarter for which Financial Statements have been delivered hereunder after giving effect to such Investment; and provided,
further that any Investments pursuant to clause (iii) shall not exceed the greater of (A) $10.0 million and (B) an amount
equal to (1) $10.0 million multiplied by (2) the ratio of (x) the amount of Consolidated Total Assets as of the end of the
Fiscal Quarter immediately prior to the date of such incurrence for which financial statements have been delivered pursuant to
Section 6.1 to (y) the amount of Consolidated Total Assets as of October 30, 2010, in the aggregate outstanding at
any time;

 

(f)  loans
or advances to employees of the Borrower or any of its Subsidiaries to finance travel, entertainment and relocation expenses and
other ordinary business purposes in the ordinary course of business as presently conducted; provided, that the aggregate
outstanding principal amount of all loans and advances permitted pursuant to this clause (f) shall not exceed $250,000 at
any time;

 

(g) any
Investment by the Borrower or any of its Subsidiaries; provided, that the aggregate outstanding amount of all such Investments
(valued at the time of the making thereof, and without giving effect to any write-downs or write-offs thereof) shall not exceed
(i) (x) $5 million, so long as before and after giving effect to such Investment, no Default or Event of Default shall be continuing
or (y) $500,000 (in each case, plus any returns of capital actually received by the respective investor in respect of any Investment
theretofore made by it pursuant to this clause (g), in each case, in an amount not to exceed the original amount of such
Investment) plus (ii) the portion, if any, of the Equity Contribution Basket on the date of such election that the Borrower
elects to apply this clause (g)(ii), provided, that with respect to any Investment made in reliance of this clause
(g)(ii), no Default or Event of Default shall be continuing before or after giving effect to such Investment;

 

(h) [reserved];

 

(i)  Investments
arising out of the receipt by the Borrower or any Subsidiary of noncash consideration for the sale of assets permitted under Section 8.4;

 

(j)  Investments
resulting from pledges and deposits referred to in clause (c) of the definition of Customary Permitted Liens and any Investments
customarily incurred in connection with accelerated stock repurchase programs otherwise permitted hereunder;

 

(k) Investments
received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with or judgments
against, customers and suppliers, in each case in the ordinary course of business;

 

(l)  Investments
of a Subsidiary acquired after the Closing Date or of a Person merged into the Borrower or merged into or consolidated with a Subsidiary
in accordance with Section 8.7 after the Closing Date to the extent that such Investments were not made in contemplation
of or in connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger
or consolidation;

 

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(m) acquisitions
by the Borrower of obligations in an aggregate amount not to exceed $250,000 in any Fiscal Year of one or more officers or other
employees of Parent, any direct or indirect parent of Parent, the Borrower or its Subsidiaries in connection with such officer’s
or employee’s acquisition of Stock of Parent or any direct or indirect parent of Parent, so long as (A) to the extent any
party paid cash for such Stock in connection with such acquisition, Parent or such direct or indirect parent of Parent, as the
case may be, received such cash and (B) no cash is actually advanced by the Borrower or any of the Subsidiaries to such officers
or employees in connection with the acquisition of any such obligations;

 

(n) Investments
by the Borrower or any Subsidiary to the extent they are financed with the proceeds of an issuance of Junior Capital permitted
by Section 8.1 not later than 120 days after the receipt of such proceeds by Parent or the Borrower so long as at the
time of such Investment no Default or Event of Default shall be continuing;

 

(o) 
the purchase and sale of inventory in the ordinary course of business by the Borrower or any Subsidiary; and

 

(p) any
Investment by the Borrower or any of its Subsidiaries; provided, that (x) the aggregate outstanding amount of all such Investments
(valued at the time of the making thereof, and without giving effect to any write-downs or write-offs thereof) shall not exceed
the portion of the Available Investment Basket on the date of such election that the Borrower elects to apply to this clause (p),
(y) the Borrower shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the last day of the
last Fiscal Quarter for which Financial Statements have been delivered hereunder after giving effect to such Investment and (z)
at the time of such Investment, no Default or Event of Default shall be continuing.

 

Section
8.4           Asset Sales. The Borrower shall cause each Group
Member not to Sell any of its property (other than cash), including Stock held by it, or issue shares of its own Stock, except
for the following:

 

(a) in
each case to the extent entered into in the ordinary course of business for fair market value and made to a Person that is not
an Affiliate of the Borrower, (i) Sales of Cash Equivalents or inventory, (ii) Sales of surplus, obsolete or worn out property,
and (iii) licenses of Intellectual Property;

 

(b) (i)
a true lease or sublease of real property that is no longer necessary or desirable to the business of the Group Members and that
does not interfere with the ordinary course business of the Group Members, and (ii) a Sale of property pursuant to a Sale and Leaseback
Transaction not to exceed property having a fair market value in the aggregate in excess of $500,000; provided, in the case
of this clause (ii), that the consideration received in such Sale and Leaseback Transaction is at least equal to the fair market
value of the property sold and the Borrower shall have delivered to the Administrative Agent a certificate of a Responsible Officer
of the Borrower to such effect;

 

(c)  (i)
any Sale of any property (other than its own Stock or Stock Equivalents) by any Group Member to any other Group Member to the extent
any resulting Investment constitutes a Permitted Investment allowed under Section 8.3(e), and (ii) any Restricted Payment
by any Group Member permitted pursuant to Section 8.5;

 

(d)  (i)
any Sale or issuance by the Borrower of its own Stock to Parent, (ii) any Sale or issuance by any Subsidiary of the Borrower
of its own Stock to any Group Member, provided, that the proportion of such Stock and of each class of such Stock (both
on an outstanding and fully-diluted basis) held by the Loan Parties (other than Parent), taken as a whole, does not change as a
result of such Sale or issuance and (iii) to the extent necessary to satisfy any Requirement of Law in the jurisdiction of incorporation
of any Subsidiary of the Borrower, any Sale or issuance by such Subsidiary of its own Stock constituting directors’ qualifying
shares or nominal holdings;

 

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(e)  as
long as no Default is continuing or would result therefrom, any Sale of property (other than as part of a Sale and Leaseback Transaction)
of, or Sale or issuance of its own Stock by, any Group Member for fair market value; provided, that (i) the aggregate
consideration received during any Fiscal Year of the Borrower for all such Sales of property shall not exceed the greater of $5.0
million as of the end of the Fiscal Quarter immediately prior to the date of such sale for which financial statements have been
delivered pursuant to Section 6.1, (ii) any note or other instrument received in consideration for such sale of assets
shall be pledged and delivered to the Collateral Agent pursuant to Section 7.10, (iii) Borrower may not Sell or issue
any Stock to any Person other than Parent and any Wholly-Owned Subsidiary shall not Sell or issue any Stock to any Person that
is not a Loan Party and (iv) at least 75% of the consideration received in connection with any transaction permitted by this clause
(e) shall be paid in cash; provided, that for purposes of clause (iv), (1) the amount of any liabilities (as shown on the
Borrower’s or any Subsidiary’s most recent balance sheet or in the notes thereto) of the Borrower or any Subsidiary
of the Borrower (other than liabilities that are by their terms subordinated to the Obligations) that are assumed by the transferee
of any such assets, (2) any notes or other obligations or other securities or assets received by the Borrower or such Subsidiary
of the Borrower from such transferee that are converted by the Borrower or such Subsidiary of the Borrower into cash within 180
days of the receipt thereof (to the extent of the cash received), (3) any Designated Non-Cash Consideration received by the Borrower
or any of its Subsidiaries in such Sale having an aggregate fair market value (as determined in good faith by the Borrower), taken
together with all other Designated Non-Cash Consideration received pursuant to this paragraph (3) that is at that time outstanding,
not to exceed $1 million (with the fair market value of each item of Designated Non-Cash Consideration being measured at the time
received and without giving effect to subsequent changes in value) and (4) with respect to any lease of assets by the Borrower
or a Subsidiary that constitutes a disposition, receipt of lease payments over time on market terms (as determined in good faith
by the Borrower) where the payment consideration is at least 75% cash consideration shall, in each case, be deemed to be cash;
and

 

(f)  the
sale for cash of defaulted receivables in the ordinary course of business and not as part of an accounts receivable financing transaction.

 

Section
8.5           Restricted Payments. The Borrower shall cause
each Group Member not to directly or indirectly, declare, order, pay, make or set apart any sum for any Restricted Payment except
for the following (and Parent shall not use the proceeds of any Restricted Payment made in reliance on clause (e) below other than
as set forth in such clause (e)):

 

(a) (i)
Restricted Payments by (A) any Group Member that is a Loan Party to any Loan Party other than Parent and (B) any Group Member that
is not a Loan Party to any Group Member and (ii) dividends and distributions by any Subsidiary of the Borrower that is not a Loan
Party to any holder of its Stock, to the extent made to all such holders ratably according to their ownership interests in such
Stock;

 

(b) dividends
and distributions declared and paid on the common Stock of the Borrower or its Subsidiaries ratably to the holders of such common
Stock and payable only in common Stock of such Group Member;

 

(c) dividends
made by the Borrower in an aggregate amount not to exceed the amount, if any, of the Available Investment Basket then available
for such dividends; provided, that (i)  after giving effect to such dividends on a Pro Forma Basis, the Borrower’s
Total Secured Leverage Ratio shall be no more than 2.00 to 1.00, (ii) prior to the payment of such dividends, the Borrower
shall deliver to Administrative Agent a certificate of a Responsible Officer demonstrating compliance with clause (i) above
and (iii) no Default or Event of Default shall be continuing;

 

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(d) cash
dividends on the Stock of the Borrower to Parent or any direct or indirect parent of Parent paid and declared solely for the purpose
of funding the following:

 

(i)          Permitted
Tax Distributions;

 

(ii)         the
redemption, purchase or other acquisition or retirement for value by Parent or any direct or, to the extent allocable to Parent
or Borrower, indirect parent of Parent of its common Stock (or Stock Equivalents with respect to its common Stock) from or with
respect to any present or former employee, consultant, director or officer (or the assigns, estate, heirs or current or former
spouses thereof) of any Group Member, Parent or any direct or indirect parent of Parent upon the death, disability or termination
of employment of such employee, director or officer, provided, that, no Default or Event of Default shall be continuing
and the amount of such cash dividends paid in any Fiscal Year in reliance on this clause (ii) shall not exceed $250,000
in the aggregate (any unused portion of which for any Fiscal Year may be carried over to and paid as additional dividends in the
next two Fiscal Years (but only the next two Fiscal Years));

 

(iii)        in
each case, to the extent allocable to the Borrower, and in any event not to exceed $1.0 million in any Fiscal Year, (A) overhead,
legal, accounting and other professional fees and expenses of any Group Member, Parent or any direct or indirect parent of Parent,
(B) out-of-pocket fees and expenses related to any offering, investment or acquisition permitted hereunder (whether or not successful),
and (C) other fees and expenses in connection with the maintenance of the existence of Parent or any direct or indirect parent
of Parent, Parent’s ownership of the Borrower and such parent’s ownership of Parent, as the case may be, and in order
to permit Parent to make payments permitted by Section 8.9; and

 

(iv)        to
the extent allocable to the Borrower, fees and expenses in connection with any initial public offering of any direct or indirect
parent of the Borrower (whether or not consummated);

 

(e) dividends
by any Loan Party to any direct or indirect parent of a Loan Party which shall apply such dividends for the repurchase of the common
stock of Francesca’s Holdings Corporation (the “Specified Stock Repurchase”) in an aggregate amount not
to exceed the amount of the Available Investment Basket then available for such dividends; and

 

(f)  noncash
repurchases of Stock deemed to occur upon exercise of stock options if such Stock represents a portion of the exercise price of
such options.

 

Section
8.6           Payment of Subordinated Debt and Certain Other Debt.
The Borrower shall cause each Group Member not to (x) prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled
maturity thereof any Subordinated Debt or Junior Indebtedness, or pay any interest on or with respect thereto, (y) set apart any
property for such purpose, whether directly or indirectly and whether to a sinking fund, a similar fund or otherwise, or (z) make
any payment in violation of any subordination terms of any Subordinated Debt or Junior Indebtedness; provided, that each
Group Member may, to the extent otherwise permitted by the Loan Documents and to the extent not in violation of the applicable
subordination terms, do each of the following:

 

(a) prepay,
redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof (or set apart any property for such purpose)
any Indebtedness owing to any Loan Party;

 

(b) so
long as no Default or Event of Default shall be continuing, make regularly scheduled or otherwise required repayments or redemptions
of Subordinated Debt;

 

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(c) so
long as no Default or Event of Default shall be continuing, make prepayments of Subordinated Debt not to exceed $20,000,000 in
the aggregate; and

 

(d) so
long as no Default or Event of Default shall be continuing, make regularly scheduled payments of interest when due.

 

Section
8.7           Fundamental Changes. Parent shall not and the
Borrower shall cause each Group Member not to (a) merge, consolidate or amalgamate with any Person, (b) acquire all or substantially
all of the Stock or Stock Equivalents of any Person, (c) acquire any brand or all or substantially all of the assets of any Person
or all or substantially all of the assets constituting any line of business, division, branch, operating division or other unit
operation of any Person, or (d) liquidate or dissolve any Group Member or Subsidiary of the Borrower, in each case except for the
following: (i) to consummate any Permitted Acquisition, (ii) the merger, consolidation or amalgamation of any Subsidiary of the
Borrower into any Loan Party, (iii) the merger, consolidation or amalgamation of any Group Member that is not a Loan Party with
any other Group Member that is not a Loan Party, and (iv) the liquidation or dissolution or change in form of entity of any
Foreign Subsidiary if the Borrower determines in good faith that such liquidation, dissolution, or change in form is in the best
interests of the Borrower and is not materially disadvantageous to the Lenders; provided, that (A) in the case of any merger,
consolidation or amalgamation involving the Borrower, the Borrower shall be the surviving Person, and (B) in the case of any merger,
consolidation or amalgamation involving any other Loan Party, a Loan Party shall be the surviving corporation, and (C) all
actions required to maintain the perfection of the Lien of the Collateral Agent on the Stock or property of the Borrower or such
Loan Party shall have been made.

 

Section
8.8           Change in Nature of Business.

 

(a) The
Borrower shall cause each Group Member not to carry on any business, operations or activities (whether directly, through a Joint
Venture, in connection with a Permitted Acquisition or otherwise) substantially different from those carried on by the Borrower
and its Subsidiaries at the date hereof and business, operations and activities reasonably related thereto or any business or activity
that is reasonably similar thereto or a reasonable extension, development or expansion thereof or ancillary thereto.

 

(b) Parent
shall not engage in any business, operations or activity, or hold any property, incur or otherwise become liable on any Indebtedness,
make or own any Investment, incur, maintain or suffer to exist any Lien or assign any right to receive income or profits other
than (i) holding Stock and Stock Equivalents of the Borrower together with activities directly related thereto, (ii) issuing, selling
and redeeming its own Stock, (iii) paying dividends and taxes, (iv) holding directors’ and shareholders’ meetings,
preparing corporate and similar records and other activities required to maintain its existence and separate corporate or other
legal structure, (v) preparing reports to, and preparing and making notices to and filings with, Governmental Authorities and to
its holders of Stock and Stock Equivalents, (vi) receiving, and holding proceeds of, Restricted Payments from the Borrower and
its Subsidiaries and distributing the proceeds thereof to the extent permitted in Section 8.5, (vii) as necessary
to consummate any Permitted Acquisition, (viii) performance of its obligations under and in connection with the Loan Documents,
and the other agreements contemplated hereby and thereby, and (ix) activities incidental to its maintenance and continuance, and
to the foregoing activities.

 

Section
8.9           Transactions with Affiliates. (a) The Borrower
shall cause each Group Member not to, except as otherwise expressly permitted herein, enter into any other transaction directly
or indirectly with, or for the benefit of, Parent or any Affiliate of the Borrower that is not a Loan Party (including Guaranty
Obligations with respect to any obligation of any such Affiliate), except for:

 

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(i)          to
the extent made on a basis no less favorable to such Loan Party than would be obtained in an arm’s-length transaction with
a Person that is not an Affiliate of the Borrower, Indebtedness permitted by the provisions of Section 8.1(b), (e),
(g) or (m);

 

(ii)         transactions
on a basis no less favorable to such Group Member than would be obtained in an arm’s length transaction with a Person not
an Affiliate of the Borrower; provided, that this clause (ii) shall not apply to (x) the payment to the Permitted Investors
of the monitoring and management fees referred to in Section 8.9(b) or fees payable on the Closing Date, or (y) the
indemnification of directors of the Borrower and the Subsidiaries in accordance with customary practice;

 

(iii)        [reserved];

 

(iv)        any
issuance of securities, or other reasonable payments, awards or grants in cash, securities or otherwise pursuant to, or the funding
of, employment arrangements, employee stock options and employee stock ownership plans approved by the board of directors of such
Group Member;

 

(v)         (A)
Investments permitted by the provisions of Section 8.3(e) and (m) and (B) loans or advances to employees or
consultants of the Borrower or any of the Subsidiaries in accordance with Section 8.3(f);

 

(vi)        to
the extent made on a basis no less favorable to such Loan Party than would be obtained in an arm’s-length transaction with
a Person that is not an Affiliate of the Borrower, transactions among the Borrower and the other Group Members and transactions
among the Group Members (other than the Borrower), in each case, otherwise permitted by this Agreement;

 

(vii)       the
payment of reasonable and customary fees and indemnities to directors, officers, consultants and employees of Parent, any direct
or indirect parent of Parent, the Borrower and the Subsidiaries in the ordinary course of business (limited, in the case of Parent
or any direct or indirect parent of Parent, to the portion of such fees and indemnities that are allocable to the Borrower and
its Subsidiaries);

 

(viii)      [reserved];

 

(ix)         (A)
any employment agreements entered into by the Borrower or any of the Subsidiaries in the ordinary course of business, (B) any subscription
agreement or similar agreement pertaining to the repurchase of Stock pursuant to put/call rights or similar rights with employees,
officers or directors permitted under Section 8.5, and (C) any reasonable employee compensation, benefit plan
or arrangement, any reasonable health, disability or similar insurance plan which covers employees, and any reasonable employment
contract and transactions pursuant thereto;

 

(x)          Restricted
Payments permitted by the provisions of Section 8.5; provided, that the proceeds of Restricted Payments permitted
by Section 8.5(d) shall, if received by the Fund, be used as required by Section 8.5(d);

 

(xi)         any
purchase by Parent of, or contributions to, the equity capital of the Borrower; provided, that any Stock of the Borrower
purchased by Parent shall be pledged to the Collateral Agent on behalf of the Lenders pursuant to the Guaranty and Security Agreement;

 

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(xii)        payments
permitted under paragraph (b) below;

 

(xiii)       to
the extent made on a basis no less favorable to such Loan Party than would be obtained in an arm’s-length transaction with
a Person that is not an Affiliate of the Borrower, transactions with Wholly Owned Subsidiaries for the purchase or sale of goods,
products, parts and services entered into in the ordinary course of business;

 

(xiv)      any
transaction otherwise permitted under this Agreement in respect of which the Borrower delivers to the Administrative Agent (for
delivery to the Lenders) a letter addressed to the board of directors of the Borrower from an accounting, appraisal or investment
banking firm, in each case of nationally recognized standing that is (A) in the good faith determination of the Borrower qualified
to render such letter, and (B) reasonably satisfactory to the Administrative Agent, which letter states that such transaction is
on terms that are no less favorable to the Borrower or such Subsidiary, as applicable, than would be obtained in a comparable arm’s-length
transaction with a Person that is not an Affiliate of the Borrower;

 

(xv)       [reserved];
and

 

(xvi)      transactions
with Joint Ventures for the purchase or sale of goods, equipment and services entered into in the ordinary course of business;
provided that (a) no Affiliate of the Borrower (other than the Borrower or a Group Member) has a beneficial interest in
such Person and (b) such transaction is no less favorable to the Borrower or applicable Group Member than would be obtained in
a comparable arm’s length transaction with a Person not an Affiliate of the Borrower.

 

(b) The
Borrower shall cause each Group Member not to make payments of or on account of management, consulting, monitoring, transaction
and advisory fees or similar fees payable to the Funds or the Fund Affiliates (i) in an aggregate amount in any Fiscal Year in
excess of $500,000 (provided that unused amounts may be carried forward to one or more future periods ), (ii) following
the occurrence and during the continuance of a Default or Event of Default or (iii) if, after giving effect to such payments, the
Borrower is not in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the last day of the last Fiscal
Quarter for which Financial Statements have been delivered hereunder; provided that reimbursement of expenses and indemnification
payments may be made whether or not a Default or Event of Default has occurred and whether or not the Borrower is so in compliance.

 

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Section
8.10         Third-Party Restrictions on Indebtedness, Liens, Investments
or Restricted Payments. Parent shall not and the Borrower shall cause each Group Member not to incur or otherwise suffer to
exist or become effective or remain liable on or responsible for any Contractual Obligation limiting the ability of (a) any Subsidiary
of the Borrower to make Restricted Payments to, or Investments in, or repay Indebtedness or otherwise Sell property to, any Group
Member, or (b) any Group Member to incur or suffer to exist any Lien upon any property of any Group Member, whether now owned
or hereafter acquired, securing any of its Obligations (including any “equal and ratable” clause and any similar Contractual
Obligation requiring, when a Lien is granted on any property, another Lien to be granted on such property or any other property),
except, for each of clauses (a) and (b) above: (i) restrictions imposed by applicable law; (ii) (A) contractual
encumbrances or restrictions in effect on the Amendment Effective Date and set forth on Schedule 8.10 and (B) contractual
encumbrances or restrictions in effect on the Amendment Effective Date under Indebtedness existing on the Amendment Effective Date
and permitted by Section 8.1(b) or any agreements related to any permitted renewal, extension or refinancing of any
such Indebtedness that does not expand the scope of any such encumbrance or restriction; (iii) any restriction on a Subsidiary
imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all the Stock or assets of a
Subsidiary permitted under Section 8.4 pending the closing of such sale or disposition; (iv) customary provisions
in Joint Venture agreements and other similar agreements applicable to Joint Ventures permitted under this Agreement; (v) customary
provisions contained in leases or licenses of intellectual property and other similar agreements entered into in the ordinary course
of business; (vi) customary provisions restricting subletting or assignment of any lease governing a leasehold interest; (vii)
customary provisions restricting assignment of any agreement entered into in the ordinary course of business; (viii) customary
restrictions and conditions contained in any agreement relating to the sale of any asset permitted under Section 8.4
pending the consummation of such sale; (ix) customary restrictions and conditions contained in the document relating to any Lien,
so long as (A) such Lien is permitted under Section 8.2 and such restrictions or conditions relate only to the specific
asset subject to such Lien, and (B) such restrictions and conditions are not created for the purpose of avoiding the restrictions
imposed by this Section 8.10; (x) customary net worth provisions contained in real property leases entered into by
Subsidiaries of the Borrower, so long as the Borrower has determined in good faith that such net worth provisions could not reasonably
be expected to impair the ability of the Borrower and its Subsidiaries to meet their ongoing obligations; (xi) any agreement
in effect at the time any Subsidiary becomes a Subsidiary, so long as such agreement was not entered into in contemplation of such
Person becoming a Subsidiary; (xii) Permitted Payment Restrictions contained in any documents evidencing or governing Indebtedness
permitted hereunder of any Group Member that is not a Loan Party (provided that such restrictions are not applicable to any Loan
Party or the properties of any Loan Party); and (xiii) customary restrictions or encumbrances under Indebtedness incurred pursuant
to Sections 8.1(r) or (s) to the extent not more restrictive than the comparable restrictions or encumbrances contained under this
Agreement.

 

Section
8.11         Modification of Certain Documents. Parent shall not and
the Borrower shall cause each Group Member not to do any of the following:

 

(a) waive
or otherwise modify any term of, or provide any consent under, any Constituent Document of, or otherwise change the capital structure
of, any Group Member (including the terms of any of its outstanding Stock or Stock Equivalents), in each case except for those
modifications, consents and waivers that (x) do not elect, or permit the election, to treat the Stock or Stock Equivalents of any
limited liability company (or similar entity) as certificated and (y) do not materially and adversely affect the interests of any
Secured Party under the Loan Documents or in the Collateral; or

 

(b) waive
or otherwise modify any term of, or provide any consent under, any Subordinated Debt and Junior Indebtedness, except for those
modifications, consents and waivers that (x) do not materially and adversely affect the interest of any Secured Party and (y) do
not affect the subordination provisions thereof in a manner adverse to the Secured Parties.

 

Section
8.12         Accounting Changes; Fiscal Year. Parent shall not and the
Borrower shall cause each Group Member not to change its fiscal year or its method for determining fiscal quarters or fiscal months,
unless such change is necessary in order to conform the fiscal year of a Group Member to the Borrower’s fiscal year.

 

Section
8.13         Margin Regulations. Parent shall not and the Borrower shall
cause each Group Member not to use all or any portion of the proceeds of any credit extended hereunder to purchase or carry margin
stock (within the meaning of Regulation U of the Federal Reserve Board) in contravention of Regulation U of the Federal Reserve
Board.

 

Section
8.14         Compliance with ERISA. The Borrower shall not cause or
suffer to exist any ERISA Event that would, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

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Section
8.15         Hazardous Materials. The Borrower shall cause each Group
Member not to cause or suffer to exist any Release of any Hazardous Material at, to or from any real property owned, leased, subleased
or otherwise operated or occupied by any Group Member that would violate any Environmental Law, form the basis for any Environmental
Liabilities or otherwise adversely affect the value or marketability of any real property (whether or not owned by any Group Member),
other than such violations, Environmental Liabilities and effects that would not, in the aggregate, reasonably be expected to have
a Material Adverse Effect.

 

Section
8.16         Material Contracts. The Borrower shall cause each Group
Member not to change or amend the terms of any material contract if such change could reasonably be expected to have a Material
Adverse Effect.

 

Section
8.17         Anti-Terrorism Laws; Anti-Money Laundering; Embargoed Persons.
The Borrower shall cause each Group Member not to (i) knowingly deal in, or otherwise engage in any transaction relating to, any
property or interests in property blocked pursuant to the Executive Order or any other Anti-Terrorism Law, (ii) knowingly engage
in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate,
any of the prohibitions set forth in any Anti-Terrorism Law, or (iii) cause or permit any of the funds of any Group Member that
are used to repay the Loans to be derived from any unlawful activity with the result that the making of any of the Loans would
be in violation of any Requirement of Law.

 

ARTICLE
IX

EVENTS OF DEFAULT

 

Section
9.1           Definition. Each of the following shall be an
Event of Default:

 

(a)  the
Borrower shall fail to pay (i) any principal of any Loan or any L/C Reimbursement Obligation when the same becomes due and payable
or (ii) any interest on any Loan, any fee under any Loan Document or any other Obligation (other than those set forth in clause
(i) above) and, in the case of this clause (ii), such non-payment continues for a period of 5 Business Days after
the due date therefor; or

 

(b)  any
representation, warranty or certification made or deemed made by or on behalf of any Loan Party in any Loan Document or by or on
behalf of any Loan Party (or any Responsible Officer thereof) in connection with any Loan Document (including in any document delivered
in connection with any Loan Document) shall prove to have been incorrect in any material respect (or in the case of any representation,
warranty or certification that is by its terms qualified by concepts of materiality, shall prove to have been incorrect in any
respect) when made or deemed made; or

 

(c)  any
Loan Party shall fail to comply with (i) any provision of Section 2.19(a)(ii) (Reallocation of Defaulting Lender
Commitment, Etc.), Article V (Financial Covenants), Sections 6.1 (Financial Statements), 6.2(a)(i)
or (ii) (Other Events), 7.1 (Maintenance of Corporate Existence), 7.9 (Use of Proceeds)
or 7.10 (Additional Collateral and Guaranties) or Article VIII (Negative Covenants), or (ii) any other
provision of any Loan Document if, in the case of this clause (ii), such failure shall remain unremedied for 30 days after
the earlier of the date on which (x) notice thereof shall have been given to the Borrower by the Administrative Agent or the Required
Lenders and (y) a Responsible Officer of Parent or the Borrower has actual knowledge of such failure; or

 

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(d)  (i)
any event or condition occurs that (A) results in any Indebtedness of any Group Member having a principal amount of $5.0 million
or more becoming due prior to its stated maturity, or (B) enables or permits (with all applicable grace periods having expired)
the holder or holders of any such Indebtedness or any trustee or agent on its or their behalf to cause such Indebtedness to become
due, or to require the prepayment, repurchase, redemption, or defeasance thereof (or permits the early termination and requires
the repayment thereof), prior to its scheduled maturity, or (ii) any Group Member shall fail to pay the principal of any such Indebtedness
at the stated final maturity thereof; provided, that this clause (d) shall not apply to secured Indebtedness
that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness if such sale
or transfer is permitted hereunder and under the documents providing for such Indebtedness; or

 

(e)  (i)
Parent or any Group Member shall generally not pay its debts as such debts become due, admit in writing its inability to pay its
debts generally or shall make a general assignment for the benefit of creditors, (ii) any proceeding shall be instituted by or
against any Parent or any Group Member seeking to adjudicate it a bankrupt or insolvent or seeking liquidation, winding up, reorganization,
arrangement, adjustment, protection, relief, composition of it or its debts or any similar order, in each case under any Requirement
of 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 custodian, receiver, trustee, conservator, liquidating agent, liquidator, other similar official or other
official with similar powers, in each case for it or for any substantial part of its property and, in the case of any such proceedings
instituted against (but not by or with the consent of) Parent or any Group Member, either such proceedings shall remain undismissed
or unstayed for a period of 60 days or more or any action sought in such proceedings shall occur or (iii) Parent or any Group Member
shall take any corporate or similar action or any other action to authorize any action described in clause (i) or (ii)
above; or

 

(f)  one
or more judgments, orders or decrees (or other similar process) shall be rendered against Parent or any Group Member (i)(A) in
the case of money judgments, orders and decrees, involving an aggregate amount (excluding amounts adequately covered by insurance
payable to any Group Member, to the extent an unaffiliated and solvent insurer has not denied or contested coverage therefor, provided
that, for the avoidance of doubt, a reservation of rights by an insurance company would not in and of itself constitute contested
coverage) in excess of $5.0 million, or (B) otherwise, that would reasonably be expected to have, in the aggregate, a Material
Adverse Effect, and (ii)(A) enforcement proceedings shall have been commenced by any creditor upon any such judgment, order or
decree, or (B) such judgment, order or decree shall not have been vacated, discharged or unstayed for a period of 60 consecutive
days;

 

(g) except
pursuant to a valid, binding and enforceable termination or release permitted under the Loan Documents and executed by the Administrative
Agent or as otherwise expressly permitted under any Loan Document, (i) any provision of any Loan Document shall, at any time after
the delivery of such Loan Document, fail to be, or be asserted in writing by Parent or any Group Member not to be valid and binding
on, or enforceable against, any Loan Party party thereto, or (ii) any Loan Document purporting to grant a Lien to secure any Obligation
shall, at any time after the delivery of such Loan Document, fail to create a valid and enforceable Lien on any material portion
of the Collateral and purported to be covered thereby or such Lien shall fail or cease to be a perfected Lien with the priority
required in the relevant Loan Document, or Parent or any Group Member shall state in writing that any of the events described in
clause (i) or (ii) above shall have occurred;

 

(h) there
shall occur any Change of Control;

 

(i)  an
ERISA Event occurs which has resulted in liability of a Group Member in an aggregate amount that would reasonably be expected to
have a Material Adverse Effect; or

 

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(j)   the
subordination provisions applicable to any Subordinated Debt or Junior Indebtedness having a principal amount of $5.0 million or
more shall cease to be in full force.

 

Section
9.2           Remedies. During the continuance of any Event
of Default, the Administrative Agent may, and, at the request of the Required Lenders, shall, in each case by notice to the Borrower
and in addition to any other right or remedy provided under any Loan Document or by any applicable Requirement of Law, do each
of the following: (a) declare all or any portion of the Commitments terminated, whereupon the Commitments shall immediately be
reduced by such portion or, in the case of a termination in whole, shall terminate together with any obligation any Lender may
have hereunder to make any Loan and any L/C Issuer may have hereunder to Issue any Letter of Credit or (b) declare immediately
due and payable all or part of any Obligation (including any accrued but unpaid interest thereon), whereupon the same shall become
immediately due and payable, without presentment, demand, protest or further notice or other requirements of any kind, all of which
are hereby expressly waived by Parent and the Borrower (and, to the extent provided in any other Loan Document, other Loan Parties);
provided, that, effective immediately upon the occurrence of the Events of Default specified in Section 9.1(e)(ii),
(x) the Commitments of each Lender to make Loans and the commitment of each L/C Issuer to Issue Letters of Credit shall each automatically
be terminated and (y) each Obligation (including in each case any accrued all accrued but unpaid interest thereon) shall automatically
become and be due and payable, without presentment, demand, protest or further notice or other requirement of any kind, all of
which are hereby expressly waived by Parent and the Borrower (and, to the extent provided in any other Loan Document, any other
Loan Party).

 

Section 9.3           [Reserved].

 

Section
9.4           Actions in Respect of Letters of Credit. At
any time (i) upon the Termination Date, (ii) after the Termination Date when the aggregate funds on deposit in L/C Cash Collateral
Accounts shall be less than 105% of the L/C Obligations for all Letters of Credit at such time and (iii) as required by Section 2.12,
the Borrower shall pay to the Administrative Agent in immediately available funds at the Administrative Agent’s office referred
to in Section 11.11, for deposit in a L/C Cash Collateral Account, the amount required so that, after such payment,
the aggregate funds on deposit in the L/C Cash Collateral Accounts equals or exceeds 105% of the L/C Obligations for all Letters
of Credit at such time (not to exceed, in the case of clause (iii) above, the payment to be applied pursuant to Section 2.12
to provide cash collateral for Letters of Credit).

 

ARTICLE
X

THE AGENTS

 

Section
10.1         Appointment and Authority. (a) Each Lender Party hereby
irrevocably appoints Royal Bank to act on its behalf as the Administrative Agent and as the Collateral Agent hereunder and under
the other Loan Documents and authorizes the Agents to take such actions on its behalf and to exercise such powers as are delegated
to the Agents by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Each
Lender Party hereby irrevocably appoints KeyBank National Association as Syndication Agent hereunder. Notwithstanding any provision
to the contrary contained in this Agreement or in any other Loan Document, the Administrative Agent shall have no duties or responsibilities,
except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to have any fiduciary relationship
with any Lender or Participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall
be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. Without limiting the
generality of the foregoing sentence, the use of the term “agent” herein and in the other Loan Documents with reference
to any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of
any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an
administrative relationship between independent contracting parties The provisions of this Article X are solely for the
benefit of the Agents, the Arrangers and the Lender Parties, and neither the Borrower nor any other Loan Party shall have rights
as a third party beneficiary of any of such provisions.

 

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(b)  Each
L/C Issuer shall have all of the benefits and immunities (i) provided to the Agents in this Article X with respect to any acts
taken or omissions suffered by such L/C Issuer 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 such Letters of Credit as fully as if the term “Agent”
as used in this Article X included such L/C Issuer with respect to such acts or omissions, and (ii) as additionally provided herein
with respect to such L/C Issuer.

 

Section
10.2         Agents Individually. (a) Each Person serving as an Agent
or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may
exercise the same as though it were not an Agent or an Arranger and the term “Lender Party” or “Lender Parties”
shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Person serving as an Agent or
an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as
the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any
Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account
therefor to the Lender Parties.

 

(b)  Each
Lender Party understands that each Person serving as an Agent or an Arranger, in each case, acting in its individual capacity,
and its Affiliates (collectively, such “Agent’s Group”) are engaged in a wide range of financial services
and businesses (including investment management, financing, securities trading, corporate and investment banking and research)
(such services and businesses are collectively referred to in this Section 10.2 as “Activities”)
and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore,
each Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment
businesses for its own account or on behalf of others (including the Loan Parties and their Affiliates and including holding, for
its own account or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or their respective
Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products
of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities,
each Agent’s Group may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including
information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan
Documents) which information may not be available to any of the Lender Parties that are not members of such Agent’s Group.
No Agent or Arranger nor any member of such Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf
of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived
from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial
and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or to account for any revenue or
profits obtained in connection with the Activities, except that each Agent shall deliver or otherwise make available to each Lender
Party such documents as are expressly required by any Loan Document to be transmitted by such Agent to the Lender Parties.

 

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(c) Each
Lender Party further understands that there may be situations where members of each Agent’s Group or their respective customers
(including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may
conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and
under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group is or shall be required to
restrict its activities as a result of each Person serving as an Agent or an Arranger being a member of such Agent’s Group,
and that each member of such Agent’s Group may undertake any Activities without further consultation with or notification
to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group of information
(including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan
Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall
give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing
by any Agent or Arranger or any member of such Agent’s Group to any Lender Party including any such duty that would prevent
or restrict such Agent’s Group from acting on behalf of customers (including the Loan Parties or their Affiliates) or for
its own account.

 

Section
10.3         Duties of the Agents; Exculpatory Provisions. (a) Each
Agent’s duties hereunder and under the other Loan Documents are solely ministerial and administrative in nature and no Agent
shall have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting
the generality of the foregoing, no Agent shall have any duty to take any discretionary action or exercise any discretionary powers,
but shall be required to act or refrain from acting (and shall be fully protected in so acting or refraining from acting) upon
the written direction of the Required Lenders or the Administrative Agent in the case of the Collateral Agent (or such other number
or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that no
Agent shall be required to take any action that, in its opinion or the opinion of its counsel, may expose such Agent or any of
its Affiliates to liability or that is contrary to any Loan Document or applicable law.

 

(b) No
Agent shall be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders or
the Administrative Agent in the case of the Collateral Agent (or such other number or percentage of the Lenders as shall be necessary,
or as such Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 9.2 or 11.1)
or (ii) in the absence of its own gross negligence or willful misconduct, as determined by a court of competent jurisdiction in
a final non-appealable judgment or order. No Agent shall be deemed to have knowledge of any Default or the event or events that
give or may give rise to any Default unless and until the Borrower or any Lender Party shall have given notice to such Agent describing
such Default and such event or events.

 

(c) No
Agent or Arranger nor any member of such Agent’s Group shall be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty, representation or other information made or supplied in or in connection with this Agreement,
any other Loan Document or the Disclosure Documents, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy and/or completeness of the information
contained therein, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set
forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness
of this Agreement, any other Loan Document or any other agreement, instrument or document or the perfection or priority of any
Lien or security interest created or purported to be created by any Loan Document, (v) the value or the sufficiency of any Collateral
or (vi) the satisfaction of any condition set forth in Article III or elsewhere herein, other than (in the case of
the Agent, but subject to the foregoing clause (ii)) to confirm receipt of items expressly required to be delivered to such Agent.

 

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(d) Nothing
in this Agreement or any other Loan Document shall require any Agent, Arranger or any of their respective Related Persons to carry
out any “know your customer” or other checks in relation to any Person on behalf of any Lender Party and each Lender
Party confirms to each Agent and each Arranger that it is solely responsible for any such checks it is required to carry out and
that it may not rely on any statement in relation to such checks made by such Agent, such Arranger or any of their respective Related
Persons.

 

Section
10.4         Reliance by Agents. Each Agent shall be entitled to rely
upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document
or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it
to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any
statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance
of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender Party, the Administrative Agent may
presume that such condition is satisfactory to such Lender Party unless an officer of the Administrative Agent responsible for
the transactions contemplated hereby shall have received notice to the contrary from such Lender Party prior to the making of such
Loan or the issuance of such Letter of Credit, and in the case of a Borrowing, such Lender Party shall not have made available
to the Administrative Agent such Lender Party’s ratable portion of such Borrowing. Each Agent may consult with legal counsel
(who may be counsel for the Borrower or any other Loan Party), independent accountants and other experts selected by it, and shall
not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

 

Section
10.5         Delegation of Duties. Each Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any Affiliates, agents,
employees or attorneys-in-fact, such sub-agents as shall be deemed necessary by such Agent, and shall be entitled to advice of
counsel, both internal and external, and other consultants or experts concerning all matters pertaining to such duties. Each Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Related Persons. Each such sub-agent and the Related Persons of such Agent and each such sub-agent shall be entitled to the benefits
of all provisions of this Article X (as though such sub-agents were the “Administrative Agent,” “Collateral
Agent” or such other “Agent” under the Loan Documents) as if set forth in full herein with respect thereto. No
Agent shall be responsible for the negligence or misconduct of any agent or sub-agent or attorney-in-fact that it selects in the
absence of gross negligence or willful misconduct.

 

Section
10.6         Notice of Default. The Administrative Agent shall not be
deemed to have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment of principal,
interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent
shall have received written notice from a Lender or the Borrowers referring to this Agreement, describing such Default and stating
that such notice is a “notice of default”. The Administrative Agent will promptly notify the Lenders of its receipt
of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be directed by
the Required Lenders in accordance with Article IX; provided that unless and until the Administrative Agent has received any such
direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with
respect to such Event of Default as it shall deem advisable or in the best interest of the Lenders.

 

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Section
10.7         Resignation of Agents. (a) The Administrative Agent and
the Collateral Agent may at any time give notice of its resignation to the Lender Parties and the Borrower. Upon receipt of any
such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor,
which shall be a bank with an office in New York City, or an Affiliate of any such financial institution with an office in New
York City. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within
30 days after the retiring Agent gives notice of its resignation (such 30-day period, the “Lender Party Appointment
Period”), then the retiring Agent may on behalf of the Lender Parties, appoint a successor Agent meeting the qualifications
set forth above. In addition and without any obligation on the part of the retiring Agent to appoint, on behalf of the Lender Parties,
a successor Agent, the retiring Agent may at any time upon or after the end of the Lender Party Appointment Period notify the Borrower
and the Lender Parties that no qualifying Person has accepted appointment as successor Agent and the effective date of such retiring
Agent’s resignation. Upon the resignation effective date established in such notice and regardless of whether a successor
Agent has been appointed and accepted such appointment, the retiring Agent’s resignation shall nonetheless become effective
and (i) the retiring Agent shall be discharged from its duties and obligations as Agent hereunder and under the other Loan
Documents and (ii) all payments, communications and determinations provided to be made by, to or through such Agent shall
instead be made by or to each Lender Party directly, until such time as the Required Lenders appoint a successor Agent as provided
for above in this paragraph and all Collateral held by the Collateral Agent shall be surrendered to a Lender Party selected by
the Required Lenders. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to
and become vested with all of the rights, powers, privileges and duties as Agent of the retiring (or retired) Agent, and the retiring
Agent shall be discharged from all of its duties and obligations as Agent hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this paragraph). The fees payable by the Borrower to a successor Agent shall be the same
as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Agent’s
resignation hereunder and under the other Loan Documents, the provisions of this Article X shall continue in effect for the benefit
of such retiring Agent, its sub-agents and their respective Related Persons in respect of any actions taken or omitted to be taken
by any of them while the retiring Agent was acting as Agent.

 

(b) Any
resignation pursuant to this Section by a Person acting as Administrative Agent shall, unless such Person shall notify the
Borrower and the Lender Parties otherwise, also act to relieve such Person and its Affiliates of any obligation to advance or issue
new, or extend existing, Letters of Credit where such advance, issuance or extension is to occur on or after the effective date
of such resignation.

 

Section
10.8         Resignation of L/C Issuer. In addition to the foregoing,
if a Lender becomes, and during the period it remains, a Defaulting Lender, the L/C Issuer may, upon prior written notice to the
Borrower and the Administrative Agent, resign as L/C Issuer effective at the close of business New York time on a date specified
in such notice; provided that such resignation by the L/C Issuer will have no effect on the validity or enforceability of
any Letter of Credit then outstanding or on the obligations of the Borrower or any Lender under this Agreement with respect to
any such outstanding Letter of Credit or otherwise to the L/C Issuer.

 

Section
10.9         Non-Reliance on Agents and Other Lender Parties. (a) Each
Lender Party confirms to each Agent, each Arranger, each other Lender Party and each of their respective Related Persons that it
(i) possesses (individually or through its Related Persons) such knowledge and experience in financial and business matters that
it is capable, without reliance on any Agent, any Arranger, any other Lender Party or any of their respective Related Persons,
of evaluating the merits and risks (including tax, legal, regulatory, credit, accounting and other financial matters) of (x) entering
into this Agreement, (y) making Loans and other extensions of credit hereunder and under the other Loan Documents and (z) in taking
or not taking actions hereunder and thereunder, (ii) is financially able to bear such risks and (iii) has determined that entering
into this Agreement and making Loans and other extensions of credit hereunder and under the other Loan Documents is suitable and
appropriate for it.

 

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(b) Each
Lender Party acknowledges that (i) it is solely responsible for making its own independent appraisal and investigation of all risks
arising under or in connection with this Agreement and the other Loan Documents, (ii) that it has, independently and without reliance
upon any Agent, any Arranger, any other Lender Party or any of their respective Related Persons, made its own appraisal and investigation
of all risks associated with, and its own credit analysis and decision to enter into, this Agreement based on such documents and
information, as it has deemed appropriate and (iii) it will, independently and without reliance upon any Agent, any Arranger, any
other Lender Party or any of their respective Related Persons, continue to be solely responsible for making its own appraisal and
investigation of all risks arising under or in connection with, and its own credit analysis and decision to take or not take action
under, this Agreement and the other Loan Documents based on such documents and information as it shall from time to time deem appropriate,
which may include, in each case:

 

(i)          the
financial condition, status and capitalization of the Borrower and each other Loan Party;

 

(ii)         the
legality, validity, effectiveness, adequacy or enforceability of this Agreement and each other Loan Document and any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in connection with any Loan Document;

 

(iii)        determining
compliance or non-compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit and the
form and substance of all evidence delivered in connection with establishing the satisfaction of each such condition; and

 

(iv)        the
adequacy, accuracy and/or completeness of the Disclosure Documents and any other information delivered by any Agent, any Arranger,
any other Lender Party or by any of their respective Related Persons under or in connection with this Agreement or any other Loan
Document, the transactions contemplated hereby and thereby or any other agreement, arrangement or document entered into, made or
executed in anticipation of, under or in connection with any Loan Document.

 

Section
10.10         Release of Collateral or Guarantors. Each Lender Party
hereby consents to the release and hereby directs the Collateral Agent to release or subordinate any Lien held by the Collateral
Agent for the benefit of the Secured Parties against (i) any Collateral that is Sold by a Loan Party in a Sale (other than a Sale
to another Loan Party) permitted by the Loan Documents (including pursuant to a valid waiver or consent), to the extent all Liens
required to be granted in such Collateral pursuant to Section 7.10 after giving effect to such Sale have been granted, (ii)
any property subject to a Lien permitted hereunder to the extent such property constitutes “Excluded Property” (as
defined in the Guaranty and Security Agreement) and (iii) all of the Collateral and all Loan Parties, upon (A) termination of the
Commitments and all Secured Hedging Support Documents, (B) payment and satisfaction in full of all Loans, all L/C Reimbursement
Obligations and all other Obligations that the Administrative Agent and the Collateral Agent have been notified in writing are
then due and payable and (C) deposit of cash collateral with respect to all L/C Obligations (or a back-up letter of credit has
been issued), in an amount equal to 105% of such L/C Obligation and with parties satisfactory to the Administrative Agent and the
applicable L/C Issuer.

 

Each Lender Party hereby directs the Collateral Agent, and the
Collateral Agent hereby agrees at the Borrower’s expense, upon receipt of reasonable advance notice from the Borrower, to
execute and deliver or file such documents and to perform other actions reasonably necessary to release the guaranties and Liens
when and as directed in this Section 10.10.

 

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Section
10.11         Additional Secured Parties. The benefit of the provisions
of the Loan Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any
Secured Party that is not a Lender Party so long as, by accepting such benefits, such Secured Party agrees, as among the Agents
and all other Secured Parties, that such Secured Party agrees to and is bound by (and, if requested by the Administrative Agent,
shall confirm such agreement in a writing in form and substance acceptable to the Administrative Agent) this Article X,
Section 11.8 (Right of Setoff), Section 11.9 (Sharing of Payments, Etc.) and Section 11.20
(Confidentiality) and the decisions and actions of the Agents and the Required Lenders (or, where expressly required by
the terms of this Agreement, a greater proportion of the Lenders) to the same extent a Lender is bound; provided, that,
notwithstanding the foregoing, (a) such Secured Party shall be bound by Section 10.12 only to the extent of Liabilities,
costs and expenses with respect to or otherwise relating to the Collateral held for the benefit of such Secured Party, in which
case the obligations of such Secured Party thereunder shall be such Secured Party’s pro rata share (based on the amount of
Obligations owing to such Secured Party relative to the aggregate amount of all Obligations) of such liabilities, costs and expenses,
and (b) except as set forth herein specifically for such Secured Party, (i) each of the Agents and the Lender Parties shall be
entitled to act at its sole discretion, without regard to the interest of such Secured Party, regardless of whether any Obligation
to such Secured Party thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise
affected or put in jeopardy thereby, and without any duty or liability to such Secured Party or any such Obligation, and (ii) such
Secured Party shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken
or omitted in respect of the Collateral or under any Loan Document. The Borrower hereby authorizes each Secured Hedging Counterparty
party to a Secured Hedging Support Document to receive confidential and other information from the counterparty to the Hedging
Agreement supported by such Secured Hedging Support Document in respect of such Hedging Agreement, Secured Hedging Support Document,
or otherwise in respect of the Borrower and its Affiliates. Each party hereto that is a Secured Hedging Counterparty party to any
Secured Hedging Support Document or whose Affiliate is such a Secured Hedging Counterparty shall not, and shall not cause such
Affiliate to, revoke, cancel or otherwise terminate such Secured Hedging Support Document prior to the earlier of (w) the scheduled
expiration or maturity of such Secured Hedging Support Document, (x) the occurrence or continuation of any Event of Default, (y)
any breach of the terms of such Secured Hedging Support Document constituting a termination event or otherwise permitting such
termination, and (z) the Scheduled Termination Date.

 

Section
10.12         Expenses; Indemnities. (a) Each Lender agrees to reimburse
each Agent, each Arranger and each of their respective Related Persons (to the extent not reimbursed by any Loan Party) promptly
upon demand for such Lender’s Pro Rata Share of any costs and expenses (including fees, charges and disbursements of financial,
legal and other advisors paid in the name of, or on behalf of, any Loan Party) that may be incurred by such Agent, such Arranger
or any of their respective Related Persons in connection with the preparation, syndication, execution, delivery, administration,
modification, consent, waiver or enforcement (whether through negotiations, through any work-out, bankruptcy, restructuring or
other legal or other proceeding or otherwise) of, or legal advice in respect of its rights or responsibilities under, any Loan
Document.

 

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(b)          EACH
LENDER FURTHER AGREES TO INDEMNIFY EACH AGENT, EACH ARRANGER AND EACH OF THEIR RESPECTIVE RELATED PERSONS (TO THE EXTENT NOT REIMBURSED
BY ANY LOAN PARTY), FROM AND AGAINST SUCH LENDER’S AGGREGATE PRO RATA SHARE OF ANY LIABILITIES THAT MAY BE IMPOSED ON, INCURRED
BY OR ASSERTED AGAINST SUCH AGENT, SUCH ARRANGER OR ANY OF THEIR RESPECTIVE RELATED PERSONS AND IN ANY MATTER RELATING TO OR ARISING
OUT OF, IN CONNECTION WITH OR AS A RESULT OF ANY LOAN DOCUMENT OR ANY OTHER ACT, EVENT OR TRANSACTION RELATED, CONTEMPLATED IN
OR ATTENDANT TO ANY SUCH DOCUMENT, OR, IN EACH CASE, ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY SUCH AGENT, SUCH ARRANGER OR ANY
OF THEIR RESPECTIVE RELATED PERSONS UNDER OR WITH RESPECT TO ANY OF THE FOREGOING (IN EACH CASE, WHETHER OR NOT CAUSED OR ARISING,
IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE ORDINARY NEGLIGENCE OF ANY AGENT, ANY ARRANGER OR THEIR RESPECTIVE
RELATED PERSONS; PROVIDED, THAT NO LENDER SHALL BE LIABLE TO ANY AGENT, ANY ARRANGER OR ANY OF THEIR RESPECTIVE RELATED PERSONS
TO THE EXTENT SUCH LIABILITY HAS RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH AGENT, SUCH ARRANGER OR, AS THE
CASE MAY BE, SUCH RELATED PERSON, AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL NON-APPEALABLE JUDGMENT OR ORDER.
THE AGREEMENTS IN THIS SECTION 10.12 SHALL SURVIVE THE RESIGNATION AND/OR REPLACEMENT OF THE ADMINISTRATIVE AGENT OR COLLATERAL
AGENT, AS APPLICABLE, ANY ASSIGNMENT OF RIGHTS BY, OR THE REPLACEMENT OF, A LENDER PARTY, THE TERMINATION OF THIS AGREEMENT AND
THE REPAYMENT, SATISFACTION OR DISCHARGE OF ALL OTHER OBLIGATIONS.

 

Section
10.13         No Other Duties, etc. Anything herein to the contrary
notwithstanding, none of the Persons acting as Syndication Agent or Arrangers listed on the cover page hereof shall have any powers,
duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the
Administrative Agent, Collateral Agent or as a Lender Party hereunder; provided that the Syndication Agent and Arrangers
shall be entitled to all benefits of this Article X.

 

Section
10.14         Withholding Tax. To the extent required by any applicable
law, the Administrative Agent may deduct or withhold from any payment to any Secured Party an amount equivalent to any applicable
withholding tax. If the Internal Revenue Service or any authority of the United States or other jurisdiction asserts a claim that
the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Secured Party (because the
appropriate form was not delivered or was not properly executed, or because such Secured Party failed to notify the Administrative
Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding tax ineffective, or for any other
reason), such Secured Party shall indemnify and hold harmless the Administrative Agent (to the extent that the Administrative Agent
has not already been reimbursed by any Loan Party pursuant to Sections 2.16 and 2.17 and without increasing
or limiting the obligation of any Loan Party to do so) fully for all amounts paid, directly or indirectly, by the Administrative
Agent as Tax or otherwise, together with all expenses incurred, including legal expenses, allocated staff costs and any out-of-pocket
expenses, whether or not such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate
as to the amount of such payment or liability delivered to any Secured Party by the Administrative Agent shall be conclusive absent
manifest error. Each Secured Party hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time
owing to such Secured Party under this Agreement or any other Loan Document against any amount due to the Administrative Agent
under this Section 10.14. The agreements in this Section 10.14 shall survive the resignation and/or replacement
of the Administrative Agent, any assignment of rights by, or the replacement of, a Secured Party, the termination of this Agreement
and the repayment, satisfaction or discharge of all other Obligations.

 

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Section
10.15         Removal of Agents. Anything herein to the contrary notwithstanding,
if at any time the Required Lenders determine that the Person serving as Administrative Agent or Collateral Agent is (without taking
into account any provision in the definition of “Defaulting Lender” requiring notice from the Administrative Agent
or any other party) a Defaulting Lender, the Required Lenders (determined after giving effect to Section 11.1(c)) may
by notice to the Borrower and such Person remove such Person as Administrative Agent or Collateral Agent and appoint a replacement
Administrative Agent or Collateral Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective
on the earlier of (i) the date a replacement Administrative Agent or Collateral Agent is appointed and (ii) the date 20 Business
Days after the giving of such notice by the Required Lenders (regardless of whether a replacement Administrative Agent or Collateral
Agent has been appointed) and, in the case of the Collateral Agent, the Collateral held by the Collateral Agent shall be surrendered
to a Lender Party selected by the Required Lenders.

 

ARTICLE
XI

MISCELLANEOUS

 

Section
11.1         Amendments, Waivers, Etc. (a) No amendment or waiver of
any provision of any Loan Document (other than the Agency Fee Letter or the Fee Letter) and no consent to any departure by any
Loan Party therefrom shall be effective unless the same shall be in writing and signed (1) in the case of an amendment, consent
or waiver to (A) cure any ambiguity, omission, defect or inconsistency, by the Administrative Agent and the Borrower or (B) grant
a new Lien for the benefit of the Secured Parties or extend an existing Lien over additional property, by the Collateral Agent
and the Borrower and (2) in the case of any other amendment, waiver or consent by the Required Lenders (or by the Administrative
Agent with the consent of the Required Lenders) and the Borrower; provided, that no amendment, consent or waiver described
in clause (2) above shall, unless in writing and signed by each Lender directly affected thereby (or by the Administrative
Agent with the consent of such Lender), in addition to any other Person the signature of which is otherwise required pursuant to
any Loan Document, be effective to do any of the following:

 

(i)          waive
any condition specified in Section 3.1, except any condition referring to any other provision of any Loan Document;

 

(ii)         increase
the Commitment of such Lender or subject such Lender to any additional obligation;

 

(iii)        reduce
(including through release, forgiveness, assignment or otherwise) (A) the principal amount of, the interest rate on, or any obligation
of the Borrower to repay (whether or not on a fixed date), any outstanding Loan owing to such Lender, (B) any fee or accrued interest
payable to such Lender or (C) any L/C Reimbursement Obligation or any obligation of the Borrower to repay (whether or not on a
fixed date) any L/C Reimbursement Obligation; provided, that this clause (iii) does not apply to (x) any change to
any provision increasing any interest rate or fee during the continuance of an Event of Default or to any payment of any such increase
or (y) any modification to any financial covenant set forth in Article V or in any definition set forth therein or principally
used therein;

 

(iv)        extend,
waive or postpone any scheduled maturity date or other scheduled date fixed for the payment, in whole or in part, of principal
of or interest on any Loan or fee owing to such Lender or for the reduction of such Lender’s Commitment or the stated expiration
date of any Letter of Credit beyond the Scheduled Termination Date; provided, that this clause (iv) does not apply
to the application of any payment, including as set forth in Section 2.12;

 

(v)         waive
or amend any provision of Section 2.12(c) (Application of Payments during an Event of Default) or Section 2.12(d) (Application
of Payments Generally);

 

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(vi)        except
as provided in Section 10.10, release all or substantially all of the Collateral or any Guarantor from its guaranty
of any Obligation of the Borrower;

 

(vii)       reduce
or increase the proportion of Lenders required for the Lenders (or any subset thereof) to take any action hereunder or change the
definition of the terms “Required Lenders”, “Pro Rata Share” or “Pro Rata Outstandings”;

 

(viii)      amend
Section 10.10 (Release of Collateral or Guarantors) if the effect of such amendment is a release described in clause
(vi) above, Section 11.9 (Sharing of Payments) or this Section 11.1;

 

(ix)         waive
any condition set forth in Section 3.2 as to any Borrowing , directly or indirectly (including by waiving any Default or Event
of Default or amending or modifying Section 3.2 or Section 9.1 if the effect thereof is to permit such Borrowing), without
the written consent of the Required Lenders; or

 

(x)          consent
to the assignment by any Loan Party of any of its rights and obligations under any Loan Document.

 

(xi)         and
provided, further, that (x) any change to the definition of the term “Required Lender” shall require the consent
of all of the Lenders, (y) no amendment, waiver or consent shall affect the rights or duties under any Loan Document of, or any
payment to, any Agent (or otherwise modify any provision of Article X or the application thereof), any L/C Issuer or any
SPV that has been granted an option pursuant to Section 11.2(f) unless in writing and signed by such Agent, such L/C
Issuer or, as the case may be, such SPV in addition to any signature otherwise required and (z) the consent of the Borrower shall
not be required to change any order of priority set forth in Section 2.12.

 

(b) Each
waiver or consent under any Loan Document shall be effective only in the specific instance and for the specific purpose for which
it was given. No notice to or demand on any Loan Party shall entitle any Loan Party to any notice or demand in the same, similar
or other circumstances. No failure on the part of any Secured Party 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. In the case of any waiver, the Borrower, the Lenders, the Administrative Agent and
the Collateral Agent shall be restored to their former positions and rights hereunder and under the other Loan Documents, and any
Default or Event of Default waived shall be deemed to be cured and not continuing, it being understood that no such waiver shall
extend to any subsequent or other Default or Event of Default or impair any right consequent thereon (or reduce the amount of any
increased interest or fee payments as a consequence of any such Default or Event of Default).

 

(c) Anything
herein to the contrary notwithstanding, during such period as a Lender is a Defaulting Lender, to the fullest extent permitted
by applicable law, such Lender will not be entitled to vote in respect of amendments and waivers hereunder and the Commitment and
the outstanding Loans or other extensions of credit of such Lender hereunder will not be taken into account in determining whether
the Required Lender or all of the Lenders, as required, have approved any such amendment or waiver (and the definition of “Required
Lenders” will automatically be deemed modified accordingly for the duration of such period); provided, that any such
amendment or waiver that would increase or extend the term of the Commitment of such Defaulting Lender, extend the date fixed for
the payment of principal or interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation owing
to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Lender
or of any fee payable to such Defaulting Lender hereunder, or alter the terms of this proviso, will require the consent of such
Defaulting Lender.

 

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Section
11.2         Assignments and Participations; Binding Effect. (a) Binding
Effect. This Agreement shall become effective when it shall have been executed by Parent, the Borrower, the Guarantors and
the Agents and when the Administrative Agent shall have been notified by each Lender and L/C Issuer that such Lender or L/C Issuer
has executed it. Thereafter, it shall be binding upon and inure to the benefit of Parent, the Borrower (in each case except for
Article X), each Agent, each Lender and L/C Issuer and, to the extent provided in Section 10.12, each other
Indemnitee and Secured Party and, in each case, their respective successors and permitted assigns. None of Parent, the Borrower,
any L/C Issuer or any Agent (except to a successor Agent named pursuant to Section 10.7 or otherwise to facilitate
a transaction contemplated by such Section 10.7) shall have the right to assign any rights or obligations hereunder
or any interest herein; provided, that each Secured Hedging Counterparty may assign its rights and interests in, but not
its obligations under, Secured Hedging Support Provisions.

 

(b) Right
to Assign.

 

(i)          Each
Lender may sell, transfer, negotiate or assign all or a portion of its rights and obligations hereunder (including all or a portion
of its Commitments and its rights and obligations with respect to Loans and Letters of Credit) to (i) any existing Lender, (ii)
any Affiliate or Approved Fund of any existing Lender, (iii) any Person that is simultaneously purchasing all or substantially
all of such Lender’s loan portfolio, or (iv) any other Person reasonably acceptable (which acceptance shall not be unreasonably
withheld or delayed) to the Administrative Agent and the L/C Issuer and, as long as no Event of Default is continuing, the Borrower;
provided, that (w) no Lender may sell, transfer, negotiate or assign any rights or obligations hereunder to any Permitted
Investor, Parent, the Borrower or any Affiliate or Subsidiary of any of the foregoing, except as permitted by clause (ii) below,
(x) such Sales must be ratable among the obligations owing to and owed by such Lender, (y) the aggregate outstanding principal
amount (determined as of the effective date of the applicable Assignment) of the Loans, Commitments and L/C Obligations subject
to any such Sale shall be an integral multiple of $2,500,000 and (z) the Borrower shall exercise commercially reasonable efforts
to respond to a request for consent to an Assignment within ten Business Days after having received notice of such Assignment (provided,
that for the avoidance of doubt, failure to respond to such request shall be deemed to be consent). Notwithstanding the foregoing,
any such Sales by Defaulting Lenders shall be subject to the Administrative Agent’s prior written consent in all instances.

 

(ii)         Notwithstanding
the foregoing, Assignments to any Permitted Investor, Parent, the Borrower or any Affiliate or Subsidiary of any Permitted Investor,
Parent or the Borrower shall be permitted only so long as the acquired Loans and Commitments shall be immediately cancelled upon
the effectiveness of the Assignment thereof.

 

(c) Procedure.
The parties to each Sale made in reliance on clause (b) above (other than those described in clause (e) or (f)
below) shall execute and deliver to the Administrative Agent (which shall keep a copy thereof) an Assignment evidencing such Sale
(including via an electronic settlement system if so designated by the Administrative Agent), together with any existing Note subject
to such Sale (or any affidavit of loss therefor acceptable to the Administrative Agent), any tax forms required to be delivered
pursuant to Section 2.17(f) and payment by the assignee of an assignment fee in the amount of $3,500; provided,
that (i) no assignment or other fee shall be payable in connection with an assignment by an existing Lender to another existing
Lender or an Affiliate of such existing Lender, and (ii) only one assignment fee shall be payable with respect to multiple,
simultaneous assignments to an Approved Fund and its Affiliates. Upon receipt of all the foregoing, and conditioned upon such receipt
and upon the Administrative Agent and the Borrower, as applicable, consenting to such Assignment, from and after the effective
date specified in such Assignment, the Administrative Agent shall record or cause to be recorded in the Register the information
contained in such Assignment.

 

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(d) Effectiveness.
Effective upon the recording of an Assignment by the Administrative Agent in the Register, (i) the assignee thereunder shall become
a party hereto and, to the extent that rights and obligations under the Loan Documents have been assigned to such assignee pursuant
to such Assignment, shall have the rights and obligations of a Lender, (ii) any applicable Note shall be transferred to such assignee
through such entry and (iii) the assignor thereunder shall, to the extent that rights and obligations under this Agreement have
been assigned by it pursuant to such Assignment, relinquish its rights (except for those surviving the termination of the Commitments
and the payment in full of the Obligations) and be released from its obligations under the Loan Documents, other than those relating
to events or circumstances occurring prior to such assignment and, in the case of an Assignment covering all or the remaining portion
of an assigning Lender’s rights and obligations under the Loan Documents, such Lender shall cease to be a party hereto except
that (i) each Lender agrees to remain bound by Article X, Section 11.8 (Right of Setoff) and Section 11.9
(Sharing of Payments) to the extent provided in Section 10.11 (Additional Secured Parties) and (ii) each
Lender shall continue to be entitled to the benefits of Section 2.16 (Breakage Costs; Increased Costs; Capital Requirements)
and Section 2.17 (Taxes) hereto with respect to facts and circumstances occurring prior to the effective date
of such assignment.

 

(e) Grant
of Security Interests. In addition to the other rights provided in this Section 11.2, each Lender may, without
the consent of the Borrower or the Administrative Agent, grant a security interest in, or otherwise assign as collateral, any of
its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest
on the Loans), to (A) any federal reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to the Administrative
Agent or (B) any holder of, or trustee for the benefit of the holders of, such Lender’s Securities, by notice to the Administrative
Agent; provided, that no such holder, trustee or other Person, whether because of such grant or assignment or any foreclosure
thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above), shall be entitled to any rights
of such Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder.

 

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(f)  Participants
and SPVs. In addition to the other rights provided in this Section 11.2, each Lender may, (x) with notice to the
Administrative Agent, grant to an SPV the option to make all or any part of any Loan that such Lender would otherwise be required
to make hereunder (and the exercise of such option by such SPV and the making of Loans pursuant thereto shall satisfy the obligation
of such Lender to make such Loans hereunder) and such SPV may assign to such Lender the right to receive payment with respect to
any Obligation and (y) without notice to or consent from the Administrative Agent or the Borrower, sell participations to one or
more Persons in or to all or a portion of its rights and obligations under the Loan Documents (including all its rights and obligations
with respect to the Loans and Letters of Credit); provided, that, whether as a result of any term of any Loan Document or
of such grant or participation, (i) no such SPV or participant shall have a commitment, or be deemed to have made an offer to commit,
to make Loans hereunder, and, except as provided in the applicable option agreement, none shall be liable for any obligation of
such Lender hereunder, (ii) such Lender’s rights and obligations, and the rights and obligations of the Loan Parties and
the Secured Parties towards such Lender, under any Loan Document shall remain unchanged and each other party hereto shall continue
to deal solely with such Lender, which shall remain the holder of the Obligations in the Register, except that (A) each such participant
and SPV shall be entitled to the benefit of Sections 2.16 (Breakage Costs; Increased Costs; Capital Requirements)
and 2.17 (Taxes) (subject to the requirements and limitations of such Sections), but only to the extent of any amount
to which such Lender would be entitled in the absence of any such grant or participation, unless the sale of the participation
or grant to an SPV is made with the Borrower’s prior written consent (not to be unreasonably withheld or delayed), and (B)
each such SPV may receive other payments that would otherwise be made to such Lender with respect to Loans funded by such SPV to
the extent provided in the applicable option agreement and set forth in a notice provided to the Administrative Agent by such SPV
and such Lender, provided, that in no case (including pursuant to clause (A) or (B) above) shall an SPV or
participant have the right to enforce any of the terms of any Loan Document, and (iii) the consent of such SPV or participant shall
not be required (either directly, as a restraint on such Lender’s ability to consent hereunder or otherwise) for any amendments,
waivers or consents with respect to any Loan Document or to exercise or refrain from exercising any powers or rights such Lender
may have under or in respect of the Loan Documents (including the right to enforce or direct enforcement of the Obligations), except
for those described in clauses (iii) and (iv) of Section 11.1(a) with respect to amounts, or dates fixed
for payment of amounts, to which such participant or SPV would otherwise be entitled and, in the case of participants, except for
those described in Section 11.1(a)(v) (or amendments, consents and waivers with respect to Section 10.10
to release all or substantially all of the Collateral), for amendments that would increase the amount of any participant’s
participation over the amount then in effect and consents to any assignments or transfers described in Section 11.1(a)(x).
No party hereto shall institute (and each of the Borrower and Parent shall cause each other Loan Party not to institute) against
any SPV grantee of an option pursuant to this clause (f) any bankruptcy, reorganization, insolvency, liquidation or similar
proceeding, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper of such
SPV; provided, that each Lender having designated an SPV as such agrees to indemnify each Indemnitee against any Liability
that may be incurred by, or asserted against, such Indemnitee as a result of failing to institute such proceeding (including a
failure to get reimbursed by such SPV for any such Liability). The agreement in the preceding sentence shall survive the termination
of the Commitments and the payment in full of the Obligations.

 

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Section
11.3         Costs and Expenses. Any action taken by any Loan Party
under or with respect to any Loan Document, even if required under any Loan Document or at the request of any Secured Party, shall
be at the expense of such Loan Party, and no Secured Party shall be required under any Loan Document to reimburse any Loan Party
or Group Member therefor. In addition, the Borrower agrees to pay or reimburse upon demand (a) the Agents, the Arrangers and their
Related Persons for all reasonable out-of-pocket costs and expenses (including fees and premiums in connection with any title insurance
or surveys, search, filing or recording fees) incurred in connection with the investigation, development, preparation, negotiation,
syndication, execution, interpretation or administration of, any modification of any term of or termination of, any Loan Document,
any commitment or proposal letter therefor, any other document prepared in connection therewith or the consummation and administration
of any transaction contemplated therein (including periodic audits in connection therewith and environmental audits and assessments),
in each case including the reasonable fees, charges and disbursements of one legal counsel (and one local counsel in each relevant
jurisdiction, or two in the case of a conflict preventing the use of only one local counsel) to the Agents, the Arrangers, the
Syndication Agent and their Related Persons, fees, costs and expenses incurred in connection with SyndtrakÔ
or any other E-System and allocated by the Administrative Agent in its sole discretion and fees, charges and disbursements of the
auditors, appraisers, printers and other of their Related Persons retained by or on behalf of any of them or any of their Related
Persons, (b) the Agents, the Arrangers and their Related Persons for all reasonable costs and expenses incurred in connection with
internal audit reviews, field examinations and Collateral examinations (which shall be reimbursed, in addition to the out-of-pocket
costs and expenses of such examiners, at the per diem rate per individual charged by the Collateral Agent for its examiners) and
(c) the Arrangers, the Agents, the Lenders and the L/C Issuer and their Related Persons for all costs and expenses incurred in
connection with (i) any refinancing or restructuring of the credit arrangements provided hereunder in the nature of a “work-out”,
(ii) the enforcement or preservation of any right or remedy under any Loan Document, any Obligation, with respect to the Collateral
or any other related right or remedy or (iii) the commencement, defense, conduct of, intervention in, or the taking of any other
action with respect to, any proceeding (including any bankruptcy or insolvency proceeding) related to Parent or any Group Member,
Loan Document or Obligation (or the response to and preparation for any subpoena or request for document production relating thereto),
including fees and disbursements of counsel (including allocated costs of internal counsel).

 

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Section
11.4         Indemnities. (a) THE BORROWER AGREES TO INDEMNIFY, HOLD
HARMLESS AND DEFEND EACH AGENT, THE ARRANGERS, EACH LENDER, EACH L/C ISSUER, EACH FORMER LENDER OR L/C ISSUER PARTY TO A SECURED
HEDGING DOCUMENT, EACH PERSON THAT EACH L/C ISSUER CAUSES TO ISSUE LETTERS OF CREDIT HEREUNDER AND EACH OF THEIR RESPECTIVE RELATED
PERSONS (EACH SUCH PERSON BEING AN “INDEMNITEE”) FROM AND AGAINST ALL LIABILITIES (INCLUDING BROKERAGE COMMISSIONS,
FEES AND OTHER COMPENSATION) THAT MAY BE IMPOSED ON, INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE AND IN ANY MATTER RELATING
TO OR ARISING OUT OF, IN CONNECTION WITH OR AS A RESULT OF (I) ANY LOAN DOCUMENT, ANY DISCLOSURE DOCUMENT, OR ANY OBLIGATION (OR
THE REPAYMENT THEREOF), ANY LETTER OF CREDIT, THE USE OR INTENDED USE OF THE PROCEEDS OF ANY LOAN OR THE USE OF ANY LETTER OF CREDIT,
OR ANY SECURITIES FILING OF, OR WITH RESPECT TO, ANY GROUP MEMBER, (II) ANY COMMITMENT LETTER, PROPOSAL LETTER OR TERM SHEET WITH
ANY PERSON OR ANY CONTRACTUAL OBLIGATION, SYNDICATION OF THE CREDIT FACILITY PROVIDED HEREBY, ANY ENFORCEMENT OF ANY LOAN DOCUMENTS
(INCLUDING ANY SALES OF, COLLECTION FROM, OR OTHER REALIZATION UPON ANY OF THE COLLATERAL OR THE ENFORCEMENT OF ANY GUARANTY) ARRANGEMENT
OR UNDERSTANDING WITH ANY BROKER, FINDER OR CONSULTANT, IN EACH CASE ENTERED INTO BY OR ON BEHALF OF ANY GROUP MEMBER OR ANY AFFILIATE
OF ANY OF THEM IN CONNECTION WITH ANY OF THE FOREGOING AND ANY CONTRACTUAL OBLIGATION ENTERED INTO IN CONNECTION WITH ANY E-SYSTEMS
OR OTHER ELECTRONIC TRANSMISSIONS, (III) ANY ACTUAL OR PROSPECTIVE INVESTIGATION, LITIGATION OR OTHER PROCEEDING, WHETHER OR NOT
BROUGHT BY ANY SUCH INDEMNITEE OR ANY OF ITS RELATED PERSONS, ANY HOLDERS OF SECURITIES OR CREDITORS (AND INCLUDING ATTORNEYS’
FEES IN ANY CASE), WHETHER OR NOT ANY SUCH INDEMNITEE, RELATED PERSON, HOLDER OR CREDITOR IS A PARTY THERETO, AND WHETHER OR NOT
BASED ON ANY SECURITIES OR COMMERCIAL LAW OR REGULATION OR ANY OTHER REQUIREMENT OF LAW OR THEORY THEREOF, INCLUDING COMMON LAW,
EQUITY, CONTRACT, TORT OR OTHERWISE, OR (IV) ANY OTHER ACT, EVENT OR TRANSACTION RELATED, CONTEMPLATED IN OR ATTENDANT TO ANY OF
THE FOREGOING (COLLECTIVELY, THE “INDEMNIFIED MATTERS”); PROVIDED, THAT THE BORROWER SHALL NOT HAVE ANY LIABILITY UNDER
THIS SECTION 11.4 TO AN INDEMNITEE WITH RESPECT TO, AND NO INDEMNITEE SHALL HAVE ANY LIABILITY HEREUNDER OTHER THAN (TO THE EXTENT
OTHERWISE LIABLE) FOR, ANY INDEMNIFIED MATTER TO THE EXTENT SUCH LIABILITY HAS RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT
OF SUCH INDEMNITEE, AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL NON-APPEALABLE JUDGMENT OR ORDER. THE FOREGOING
INDEMNIFICATION SHALL APPLY WHETHER OR NOT SUCH INDEMNIFIED LIABILITIES ARE IN ANY WAY OR TO ANY EXTENT OWED, IN WHOLE OR IN PART,
UNDER ANY CLAIM OR THEORY OF STRICT LIABILITY, OR ARE CAUSED, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE
NEGLIGENCE OF ANY INDEMNITEE. FURTHERMORE, EACH OF PARENT AND THE BORROWER WAIVES AND AGREES NOT TO ASSERT AGAINST ANY INDEMNITEE,
AND SHALL CAUSE EACH OTHER LOAN PARTY TO WAIVE AND NOT ASSERT AGAINST ANY INDEMNITEE, ANY RIGHT OF CONTRIBUTION WITH RESPECT TO
ANY LIABILITIES THAT MAY BE IMPOSED ON, INCURRED BY, OR ASSERTED AGAINST ANY RELATED PERSON.

 

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(b) Without
limiting the foregoing, “Indemnified Matters” includes all Environmental Liabilities, including those arising
from, or otherwise involving, any property of any Group Member or any actual, alleged or prospective damage to property or natural
resources or harm or injury alleged to have resulted from any Release of Hazardous Materials on, upon or into such property or
natural resource or any property on or contiguous to any real property of any Group Member, whether or not, with respect to any
such Environmental Liabilities, any Indemnitee is a mortgagee in possession, the successor-in-interest to any Group Member or the
owner, lessee or operator of any property or facility of any Group Member through any foreclosure action, in each case except to
the extent such Environmental Liabilities (i) are incurred solely following foreclosure by any Secured Party or following any Secured
Party having become the successor-in-interest to any Loan Party and (ii) are attributable solely to acts of such Indemnitee.

 

Section
11.5         Survival. Any indemnification or other protection provided
to any Indemnitee pursuant to any Loan Document or the provisions of Section 2.17 (Taxes), Section 2.16
(Breakage Costs; Increased Costs; Capital Requirements), Article X (The Agents), Section 11.3
(Costs and Expenses), Section 11.4 (Indemnities), this Section 11.5, Section 11.8
(Right of Setoff), and Section 11.9 (Sharing of Payments, Etc.) and all representations and warranties
made in any Loan Document shall (A) survive the termination of the Commitments and the payment in full of other Obligations and
(B) inure to the benefit of any Person that at any time held a right thereunder (as an Indemnitee or otherwise) and, thereafter,
its successors and permitted assigns.

 

Section
11.6         Limitation of Liability for Certain Damages. IN NO EVENT
SHALL ANY INDEMNITEE BE LIABLE ON ANY THEORY OF LIABILITY FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING
ANY LOSS OF PROFITS, BUSINESS OR ANTICIPATED SAVINGS). EACH OF PARENT AND THE BORROWER HEREBY WAIVES, RELEASES AND AGREES (AND
SHALL CAUSE EACH OTHER LOAN PARTY TO WAIVE, RELEASE AND AGREE) NOT TO SUE UPON ANY SUCH CLAIM FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL
OR PUNITIVE DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR.

 

Section
11.7         Lender-Creditor Relationship; No Fiduciary Duty. The relationship
between the Lenders, the L/C Issuer and the Agents, on the one hand, and the Loan Parties, on the other hand, is solely that of
lender and creditor. Each of the Secured Parties may have economic interests that conflict with those of the Borrower, its stockholders
and/or its Affiliates. The Borrower agrees that no Secured Party has any fiduciary or advisory relationship or duty to any Loan
Party arising out of or in connection with, and there is no agency, tenancy or joint venture relationship between the Secured Parties
and the Loan Parties by virtue of, any Loan Document or any transaction contemplated therein. The Borrower agrees that it will
not claim that any Secured Party has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to
the Borrower, in connection with the transaction contemplated hereby or the process leading thereto.

 

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Section
11.8         Right of Setoff. Each Agent, Lender and L/C Issuer and
each Affiliate (including each branch office thereof) of any of them is hereby authorized, without notice or demand (each of which
is hereby waived by Parent and the Borrower), at any time and from time to time during the continuance of any Event of Default
and to the fullest extent permitted by law, to set off and apply any and all deposits (whether general or special, time or demand,
provisional or final) at any time held and other Indebtedness, claims or other obligations at any time owing by such Agent, such
Lender, such L/C Issuer or any of their respective Affiliates to or for the credit or the account of Parent or the Borrower against
any Obligation of any Loan Party now or hereafter existing, whether or not any demand was made under any Loan Document with respect
to such Obligation and even though such Obligation may be unmatured. Each Agent, Lender and L/C Issuer agrees promptly to notify
the Borrower and the Administrative Agent after any such setoff and application made by such Lender or its Affiliates; provided,
that the failure to give such notice shall not affect the validity of such setoff and application. The rights under this Section 11.8
are in addition to any other rights and remedies (including other rights of setoff) that the Agents, the Arrangers, the Syndication
Agent, the Lenders and the L/C Issuer and their Affiliates and other Secured Parties may have.

 

Section
11.9         Sharing of Payments, Etc. If any Lender, directly or through
an Affiliate or branch office thereof, obtains any payment of any Obligation of any Loan Party (whether voluntary, involuntary
or through the exercise of any right of setoff or the receipt of any Collateral or “proceeds” (as defined under
the applicable UCC) of Collateral) other than pursuant to Sections 2.16 (Breakage Costs; Increased Costs; Capital
Requirements), 2.17 (Taxes) and 2.18 (Substitution of Lenders) and such payment exceeds the amount
such Lender would have been entitled to receive if all payments had gone to, and been distributed by, the Administrative Agent
in accordance with the provisions of the Loan Documents, such Lender shall purchase for cash from other Secured Parties such participations
in their Obligations as necessary for such Lender to share such excess payment with such Secured Parties to ensure such payment
is applied as though it had been received by the Administrative Agent and applied in accordance with this Agreement (or, if such
application would then be at the discretion of the Borrower, applied to repay the Obligations in accordance herewith); provided,
that (a) the provisions of this Section 11.9 shall not be construed to apply to any payment made by the Borrower pursuant
to and in accordance with the express terms of this Agreement, any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Loans or participations in Letters of Credit to any assignee or participant or any
payment made as a consent fee for an amendment or waiver to the extent such fee is paid only to consenting Lenders, (b) if such
payment is rescinded or otherwise recovered from such Lender or L/C Issuer in whole or in part, such purchase shall be rescinded
and the purchase price therefor shall be returned to such Lender or L/C Issuer without interest and (c) such Lender shall, to the
fullest extent permitted by applicable Requirements of Law, be able to exercise all its rights of payment (including the right
of setoff) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount
of such participation. If a Defaulting Lender receives any such payment as described in the previous sentence, such Lender shall
turn over such payments to the Administrative Agent in an amount that would satisfy the cash collateral requirements set forth
in Sections 2.4 and 9.4.

 

Section
11.10          Marshaling; Payments Set Aside. No Secured Party shall
be under any obligation to marshal any property in favor of any Loan Party or any other party or against or in payment of any Obligation.
To the extent that any Secured Party receives a payment from the Borrower, from the proceeds of the Collateral, from the exercise
of its rights of setoff, any enforcement action or otherwise, and such payment is subsequently, in whole or in part, invalidated,
declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party, then to
the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies
therefor, shall be revived and continued in full force and effect as if such payment had not occurred.

 

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Section
11.11          Notices. (a) Addresses. All notices, demands,
requests, consents and other communications provided for in this Agreement shall be given in writing, or by any telecommunication
device capable of creating a written record (including electronic mail), and addressed to the party to be notified as follows:

 

(A)         If
to Administrative Agent, at

 

Royal Bank of Canada

200 Bay Street, 12th Floor,

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J 2W7

Attention: Manager, Agency

Fax: (416) 842-4023

 

Forward loan requests, interest rate sets, payments
and fees to:

 

Royal Bank of Canada

200 Bay Street, 12th Floor,

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J 2W7

Attention: Manager, Agency

Fax: (416) 842-4023

 

(B)         If
to Borrower or any Guarantor, at

 

Francesca’s Collections, Inc.

3480 W. 12th Street

Houston, Texas 77008

Attention: Kal Malik, Executive Vice President and
General Counsel

Number: 713.864.1358 x128

Email: KMalik@francescas.net

 

With copies to:

 

O’Melveny &
Myers LLP

Attention: Sung Pak,
Esq.

Times Square Tower

7 Times Square

New York, NY 10036

Number: (212) 326-2000

Fax: (212) 326-2061

Email: spak@omm.com

 

(C)         If
to KeyBank National Association as the L/C Issuer, at

 

Keybank National
Association

Standby Letter of Credit Services

4910 Tiedeman, 4th floor

Mailcode: OH-01-51-0531

Cleveland, Ohio 44144

Fax: (216) 813-3719

 

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(D)         If to the Collateral Agent,
at

 

Royal Bank of Canada

200 Bay Street, 12th Floor,

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J 2W7

Attention: Manager, Agency

Fax: (416) 842-4023

 

(F)         If
to any other Lender Party, to it at its address (or telecopier number) set forth in its Administrative Questionnaire, or (G) at
such other address as shall be notified in writing (x) in the case of the Borrower, to the Administrative Agent, (y) in the
case of the Administrative Agent, to the other parties hereto and (z) in the case of all other parties, to the Borrower and
the Administrative Agent.

 

(b) Effectiveness.
All notices, demands, requests, consents and other communications described in clause (a) shall be effective (i) if delivered
by hand, including any overnight courier service, upon personal delivery, (ii) if delivered by mail, when deposited in the
mails, (iii) if delivered by posting to an Approved Electronic Platform, an Internet website or a similar telecommunication
device requiring that a user have prior access to such Approved Electronic Platform, website or other device (to the extent permitted
by Section 11.12 to be delivered thereunder), when such notice, demand, request, consent and other communication
shall have been made generally available on such Approved Electronic Platform, Internet website or similar device to the class
of Person being notified (regardless of whether any such Person must accomplish, and whether or not any such Person shall have
accomplished, any action prior to obtaining access to such items, including registration, disclosure of contact information, compliance
with a standard user agreement or undertaking a duty of confidentiality) and such Person has been notified in respect of such posting
that a communication has been posted to the Approved Electronic Platform and (iv) if delivered by electronic mail or any other
telecommunications device, when transmitted to an electronic mail address (or by another means of electronic delivery) as provided
in clause (a); provided, however, that notices and communications to the Administrative Agent pursuant to Article II
or Article X shall not be effective until received in writing by the Administrative Agent.

 

(c) Notwithstanding
clauses (a) and (b) (unless the Administrative Agent requests that the provisions of clause (a) and (b) be followed)
and any other provision in this Agreement or any other Loan Document providing for the delivery of any Approved Electronic Communication
by any other means, the Loan Parties shall deliver all Approved Electronic Communications to the Administrative Agent by properly
transmitting such Approved Electronic Communications in an electronic/soft medium in a format acceptable to the Administrative
Agent to chandran.panicker@rbccm.com or such other electronic
mail address (or similar means of electronic delivery) as the Administrative Agent may notify to the Borrower. Nothing in this
clause (c) shall prejudice the right of the Administrative Agent or any Lender Party to deliver any Approved Electronic Communication
to any Loan Party in any manner authorized in this Agreement or to request that the Borrower effect delivery in such manner.

 

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Section
11.12         Posting of Approved Electronic Communications. (a) Each
of the Lender Parties and each Loan Party agree that the Administrative Agent may, but shall not be obligated to, make the Approved
Electronic Communications available to the Lender Parties by posting such Approved Electronic Communications on SyndtrakTM
or a substantially similar electronic platform chosen by the Administrative Agent to be its electronic transmission system (the
“Approved Electronic Platform”).

 

(b) Although
the Approved Electronic Platform and its primary web portal are secured with generally-applicable security procedures and policies
implemented or modified by the Administrative Agent from time to time (including, as of the Closing Date, a dual firewall and a
User ID/Password Authorization System) and the Approved Electronic Platform is secured through a single-user-per-deal authorization
method whereby each user may access the Approved Electronic Platform only on a deal-by-deal basis, each of the Lender Parties and
each Loan Party acknowledges and agrees that the distribution of material through an electronic medium is not necessarily secure
and that there are confidentiality and other risks associated with such distribution. In consideration for the convenience and
other benefits afforded by such distribution and for the other consideration provided hereunder, the receipt and sufficiency of
which is hereby acknowledged, each of the Lender Parties and each Loan Party hereby approves distribution of the Approved Electronic
Communications through the Approved Electronic Platform and understands and assumes the risks of such distribution.

 

(c) THE
APPROVED ELECTRONIC PLATFORM AND THE APPROVED ELECTRONIC COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE”.
NONE OF THE ADMINISTRATIVE AGENT NOR ANY OTHER MEMBER OF SUCH AGENT’S GROUP WARRANT THE ACCURACY, ADEQUACY OR COMPLETENESS
OF THE APPROVED ELECTRONIC COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM AND EACH EXPRESSLY DISCLAIMS ANY LIABILITY FOR ERRORS
OR OMISSIONS IN THE APPROVED ELECTRONIC COMMUNICATIONS OR THE APPROVED ELECTRONIC 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 PARTIES IN CONNECTION WITH THE APPROVED
ELECTRONIC COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES
OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES HAVE ANY LIABILITY TO ANY BORROWER,
ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL
OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE BORROWER’S OR THE
ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY AGENT
PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT
PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

 

(d) Each
of the Lender Parties and each Loan Party agrees that the Administrative Agent may, but (except as may be required by applicable
law) shall not be obligated to, store the Approved Electronic Communications on the Approved Electronic Platform in accordance
with the Administrative Agent’s generally-applicable document retention procedures and policies.

 

    	108

    	 

    

 

Section
11.13         Confidentiality. Each of the Agent and the Lender Parties
agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to
its Related Persons or to any Person that any L/C Issuer causes to Issue Letters of Credit hereunder (it being understood that
the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep
such Information confidential), (b) to the extent requested by any regulatory authority purporting to have jurisdiction over
it or its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners) or
any similar organization, any examiner or any nationally recognized rating agency or otherwise to the extent consisting of general
portfolio information, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal or
judicial process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under
any other Loan Document, any action or proceeding relating to this Agreement or any other Loan Document, the enforcement of rights
hereunder or thereunder or any litigation or proceeding to which any Agent, any Lender Party or any of their respective Affiliates
may be a party, (f) subject to an agreement no less restrictive than this Section 11.13, to (i) any assignee
of or participant in, or any prospective assignee of or participant in, any of its rights or obligations under this Agreement,
(ii) to current or prospective grantees of any option described in Section 11.2(f), direct or indirect counterparties
to any Secured Hedging Document or any Hedging Agreement permitted hereunder and to their respective Related Persons, (iii) any
actual or prospective party (or its managers, administrators, trustees, partners, directors, officers, employees, agents, advisors
and other representatives), surety, reinsurer, guarantor or credit liquidity enhancer (or their advisors) to or in connection with
any swap, derivative or other similar transaction under which payments are to be made by reference to the Obligations or to the
Borrower and its obligations or to this Agreement or payments hereunder, (iv) to a trustee, collateral manager, servicer, backup
servicer, noteholder, or secured party in a Securitization in connection with the administration, servicing and reporting on the
assets serving as collateral for such Securitization, (v) to any rating agency when required by it or (vi) the CUSIP Service Bureau
or any similar organization, (g) with the consent of the Borrower, (h) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section 11.13 or (ii) becomes available to any Agent,
any Lender Party or any of their respective Affiliates on a nonconfidential basis from a source other than a Loan Party or (i)
to the extent necessary or customary for inclusion in league table measurements or in any tombstone or other advertising materials
(and the Loan Parties consent to the publication of such tombstone or other advertising materials by any Agent, Lender, the L/C
Issuer or any of their Related Persons). For purposes of this Section 11.13, “Information” means
all information received from a Loan Party or any of its Subsidiaries relating to a Loan Party or any of its Subsidiaries or any
of their respective businesses, other than any such information that is available to the Administrative Agent, the Collateral Agent
or any Lender Party on a nonconfidential basis prior to disclosure by any Loan Party or any of its Subsidiaries, provided
that, in the case of information received from a Loan Party or any of its Subsidiaries, such information has been or is clearly
identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided
in this Section 11.13 shall be considered to have complied with its obligation to do so if such Person has (i) exercised
the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information or (ii) treated such Information in accordance with such Person’s customary procedures for handling confidential
information of such nature. In addition, each Agent and each Lender may disclose the existence of this Agreement and the information
about this Agreement to market data collectors, similar services providers to the lending industry, and service providers to the
Agents and the Lenders in connection with the administration and management of this Agreement and the other Loan Documents, in
each case in accordance with customary market practice.

 

    	109

    	 

    

 

 

Section
11.14         Treatment of Information.

 

(a)  Certain
of the Lenders may enter into this Agreement and take or not take action hereunder or under the other Loan Documents on the basis
of information that does not contain material non-public information with respect to any of the Loan Parties (“Restricting
Information”). Other Lenders may enter into this Agreement and take or not take action hereunder or under the other Loan
Documents on the basis of information that may contain Restricting Information. Neither any Agent nor any of its Related Persons
shall, by making any Communications (including Restricting Information) available to a Lender Party, by participating in any conversations
or other interactions with a Lender Party or otherwise, make or be deemed to make any statement with regard to or otherwise warrant
that any such information or Communication does or does not contain Restricting Information nor shall any Agent or any of its Related
Persons be responsible or liable in any way for any decision a Lender Party may make to limit or to not limit its access to Restricting
Information. In particular, no Agent nor any of its Related Persons (i) shall have, and each Agent, on behalf of itself and each
of its Related Persons, hereby disclaims, any duty to ascertain or inquire as to whether or not a Lender Party has or has not limited
its access to Restricting Information, such Lender Party’s policies or procedures regarding the safeguarding of material,
nonpublic information or such Lender Party’s compliance with applicable laws related thereto or (ii) shall have, or incur,
any liability to any Loan Party or Lender Party or any of their respective Related Persons arising out of or relating to any Agent
or any of its Related Persons providing or not providing Restricting Information to any Lender Party.

 

(b) Each
Loan Party agrees that (i) all Communications it provides to any Agent intended for delivery to the Lender Parties whether by posting
to the Approved Electronic Platform or otherwise shall be clearly and conspicuously marked “PUBLIC” if such Communications
do not contain Restricting Information which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently
on the first page thereof, (ii) by marking Communications “PUBLIC,” each Loan Party shall be deemed to have authorized
the Agents and the Lender Parties to treat such Communications as either publicly available information or not material information
(although, in this latter case, such Communications may contain sensitive business information and, therefore, remain subject to
the confidentiality undertakings of Section 11.13) with respect to such Loan Party for purposes of United States Federal
and state securities laws, (iii) all Communications marked “PUBLIC” may be delivered to all Lender Parties and may
be made available through a portion of the Approved Electronic Platform designated “Public Side Information,” and (iv)
the Agents shall be entitled to treat any Communications that are not marked “PUBLIC” as Restricting Information and
may post such Communications to a portion of the Approved Electronic Platform not designated “Public Side Information.”
No Agent nor any of their Affiliates shall be responsible for any statement or other designation by a Loan Party regarding whether
a Communication contains or does not contain material non-public information with respect to any of the Loan Parties nor shall
any Agent or any of its Affiliates incur any liability to any Loan Party, any Lender Party or any other Person for any action taken
by such Agent or any of its Affiliates based upon such statement or designation, including any action as a result of which Restricting
Information is provided to a Lender Party that may decide not to take access to Restricting Information. Nothing in this Section 11.14
shall modify or limit a Lender Party’s obligations under Section 11.13 with regard to Communications and the
maintenance of the confidentiality of or other treatment of Information.

 

(c) Each
Lender Party acknowledges that circumstances may arise that require it to refer to Communications that might contain Restricting
Information. Accordingly, each Lender Party agrees that it will nominate at least one designee to receive Communications (including
Restricting Information) on its behalf and identify such designee (including such designee’s contact information) on such
Lender Party’s Administrative Questionnaire. Each Lender Party agrees to notify the Administrative Agent from time to time
of such Lender Party’s designee’s e-mail address to which notice of the availability of Restricting Information may
be sent by electronic transmission.

 

(d) Each
Lender Party acknowledges that Communications delivered hereunder and under the other Loan Documents may contain Restricting Information
and that such Communications are available to all Lender Parties generally. Each Lender Party that elects not to take access to
Restricting Information does so voluntarily and, by such election, acknowledges and agrees that the Agents and other Lender Parties
may have access to Restricting Information that is not available to such electing Lender Party. No Agent nor any Lender Party with
access to Restricting Information shall have any duty to disclose such Restricting Information to such electing Lender Party or
to use such Restricting Information on behalf of such electing Lender Party, and shall not be liable for the failure to so disclose
or use, such Restricting Information.

 

    	110

    	 

    

 

(e) The
provisions of the foregoing clauses of this Section 11.14 are designed to assist the Agents, the Lender Parties and
the Loan Parties, in complying with their respective contractual obligations and applicable law in circumstances where certain
Lender Parties express a desire not to receive Restricting Information notwithstanding that certain Communications hereunder or
under the other Loan Documents or other information provided to the Lender Parties hereunder or thereunder may contain Restricting
Information. No Agent nor any of its Related Persons warrants or makes any other statement with respect to the adequacy of such
provisions to achieve such purpose nor does any Agent or any of its Related Persons warrant or make any other statement to the
effect that a Loan Party’s or Lender Party’s adherence to such provisions will be sufficient to ensure compliance by
such Loan Party or Lender Party with its contractual obligations or its duties under applicable law in respect of Restricting Information
and each of the Lender Parties and each Loan Party assumes the risks associated therewith.

 

Section
11.15         Governing Law. This Agreement, each other Loan Document
that does not expressly set forth its applicable law, and the rights and obligations of the parties hereto and thereto shall be
governed by, and construed and interpreted in accordance with, the law of the State of New York.

 

Section
11.16         Jurisdiction. (a) Submission to Jurisdiction. Any
legal action or proceeding with respect to any Loan Document shall be brought exclusively in the courts of the State of New York
located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York
and, by execution and delivery of this Agreement, each of Parent and the Borrower hereby accepts for itself and in respect of its
property, generally and unconditionally, the jurisdiction of the aforesaid courts; provided that nothing in this Agreement
shall limit the right of the Administrative Agent or the Collateral Agent to commence any proceeding in the federal or state courts
of any other jurisdiction to the extent the Administrative Agent or the Collateral Agent determines that such action is necessary
or appropriate to exercise its rights or remedies under the Loan Documents. The parties hereto (and, to the extent set forth in
any other Loan Document, each other Loan Party) hereby irrevocably waive any objection, including any objection to the laying of
venue or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action
or proceeding in such jurisdictions.

 

(b) Service
of Process. Each of Parent and Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) hereby
irrevocably waives personal service of any and all legal process, summons, notices and other documents and other service of process
of any kind and consents to such service in any suit, action or proceeding brought in the United States of America with respect
to or otherwise arising out of or in connection with any Loan Document by any means permitted by applicable Requirements of Law,
including by the mailing thereof (by registered or certified mail, postage prepaid) to the address of Borrower specified in Section 11.11
(and shall be effective when such mailing shall be effective, as provided therein). Each of Parent and Borrower (and, to the extent
set forth in any other Loan Document, each other Loan Party) agrees that a final judgment in any such action or proceeding shall
be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

 

(c) Additional
Service of Process. Nothing contained in this Section 11.16 shall affect the right of the Administrative Agent,
the Collateral Agent or any Lender or the L/C Issuer to serve process in any other manner permitted by applicable Requirements
of Law or commence legal proceedings or otherwise proceed against any Loan Party in any other jurisdiction.

 

    	111

    	 

    

 

Section
11.17    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY
WAIVES TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING (INCLUDING ANY COUNTERCLAIM) WITH RESPECT TO, OR DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH, ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREIN OR RELATED THERETO (WHETHER
FOUNDED IN CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO OTHER PARTY AND NO RELATED PERSON OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THE LOAN DOCUMENTS,
AS APPLICABLE, BY THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.17.

 

Section
11.18    Severability. Any provision of any Loan Document being
held illegal, invalid or unenforceable in any jurisdiction shall not affect any part of such provision not held illegal, invalid
or unenforceable, any other provision of any Loan Document or any part of such provision in any other jurisdiction.

 

Section
11.19    Execution in Counterparts. This Agreement may be executed
in any number of counterparts and by different parties 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. Signature pages may be detached
from multiple separate counterparts and attached to a single counterpart. Delivery of an executed signature page of this Agreement
by facsimile transmission or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof.

 

Section
11.20    Entire Agreement.
THE LOAN DOCUMENTS EMBODY THE ENTIRE AGREEMENT OF THE PARTIES AND SUPERSEDE ALL PRIOR AGREEMENTS AND UNDERSTANDINGS RELATING TO
THE SUBJECT MATTER THEREOF AND ANY PRIOR LETTER OF INTEREST, COMMITMENT LETTER, FEE LETTER, AGENCY FEE LETTER, CONFIDENTIALITY
AND SIMILAR AGREEMENTS INVOLVING ANY LOAN PARTY AND ANY OF THE AGENTS, ANY LENDER OR ANY L/C ISSUER OR ANY OF THEIR RESPECTIVE
AFFILIATES RELATING TO A FINANCING OF SUBSTANTIALLY SIMILAR FORM, PURPOSE OR EFFECT. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS
OF THIS AGREEMENT AND ANY OTHER LOAN DOCUMENT, THE TERMS OF THIS AGREEMENT SHALL GOVERN (UNLESS SUCH TERMS OF SUCH OTHER LOAN DOCUMENTS
ARE NECESSARY TO COMPLY WITH APPLICABLE REQUIREMENTS OF LAW, IN WHICH CASE SUCH TERMS SHALL GOVERN TO THE EXTENT NECESSARY TO COMPLY
THEREWITH).

 

Section
11.21    Use of Name. Each of Parent and Borrower agrees, and shall
cause each other Loan Party to agree, that it shall not, and none of its Affiliates shall, issue any press release or other public
disclosure (other than any document filed with any Governmental Authority relating to a public offering of the Securities of any
Loan Party) using the name, logo or otherwise referring to any Agent, Arranger, Syndication Agent or of any of their respective
Affiliates, the Loan Documents or any transaction contemplated therein to which the Secured Parties are party without at least
2 Business Days’ prior notice to such Agent, Syndication Agent or Arranger, and without the prior consent of such Agent,
Syndication Agent or Arranger except to the extent required to do so under applicable Requirements of Law and then, only after
consulting with such Agent, Syndication Agent or Arranger prior thereto.

 

    	112

    	 

    

 

Section
11.22    Patriot Act Notice. Each Lender subject to the Patriot
Act hereby notifies Parent, the Borrower and each Loan Party that, pursuant to Section 326 thereof, it is required to obtain,
verify and record information that identifies such Person, including the name and address of such Person and other information
allowing such Lender to identify such Person in accordance with such act.

 

Section
11.23    Borrower Ratification of Loan Documents. The Borrower
hereby consents to the amendment and restatement of the Original Credit Agreement effected hereby and confirms and agrees that
(a) notwithstanding the effectiveness of this Agreement, the Guaranty and Security Agreement and Trademark Security Agreement
are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects and (b) the
security documents to which the Borrower is a party and all of the Collateral described therein do, and shall continue to, secure
the payment of all of the Guaranteed Obligations (as defined in the Guaranty and Security Agreement). For greater certainty and
without limiting the foregoing, the Borrower hereby confirms that the existing security interests granted by the Borrower in favor
of the Secured Parties pursuant to the Loan Documents in the Collateral described therein shall continue to secure the obligations
of the Borrower under this Agreement and the other Loan Documents

 

Section
11.24    Guarantor Ratification of Loan Documents. Each Guarantor
hereby consents to the amendment and restatement of the Original Credit Agreement effected hereby and confirms and agrees that
(a) notwithstanding the effectiveness of this Agreement, the Guaranty and Security Agreement and Trademark Security Agreement
are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects and (b) the
security documents to which such Guarantor is a party and all of the Collateral described therein do, and shall continue to, secure
the payment of all of the Guaranteed Obligations (as defined in the Guaranty and Security Agreement). For greater certainty and
without limiting the foregoing, each Guarantor hereby confirms that the existing security interests granted by such Guarantor in
favor of the Secured Parties pursuant to the Loan Documents in the Collateral described therein shall continue to secure the obligations
of such Guarantor under this Agreement and the other Loan Documents.

 

[SIGNATURE PAGES FOLLOW]

 

    	113

    	 

    

 

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.

 

	 	FrANcesca’s Collections, Inc.
	 	as Borrower
	 	 
	 	By:	/s/ Kal Malik
	 	Name: Kal Malik
	 	Title: Executive Vice President, Chief Administrative

Officer, General Counsel
    and Corporate Secretary
	 	 	 
	 	Francesca’s LLC,
	 	as Parent
	 	 
	 	By:	/s/ Kal Malik
	 	Name: Kal Malik
	 	Title: Executive Vice President, Chief Administrative

Officer, General Counsel
    and Corporate Secretary

 

Signature Page to

Second Amended and Restated Credit Agreement

 

    	 

    	 

    

 

	 	ROYAL BANK OF CANADA,
	 	as Administrative Agent
	 	 	 
	 	By:	/s/ Rodica Dutka
	 	 	Name: Rodica Dutka
	 	 	Title: Manager, Agency
	 	 	 
	 	ROYAL BANK OF CANADA,
	 	as Collateral Agent
	 	 	 
	 	By:	/s/ Rodica Dutka
	 	 	Name: Rodica Dutka
	 	 	Title: Manager, Agency

 

Signature Page to

Second Amended and Restated Credit Agreement

 

    	 

    	 

    

 

	 	ROYAL BANK OF CANADA,
	 	as a Lender
	 	 	 
	 	By:	/s/ Gordan MacArthur
	 	 	Name: Gordan MacArthur
	 	 	Title: Authorized Signatory

 

Signature Page to

Second Amended and Restated Credit Agreement

 

    	 

    	 

    

 

	 	KEYBANK NATIONAL ASSOCIATION,
	 	as L/C Issuer
	 	 	 
	 	By:	/s/ Marianne T. Meil
	 	 	Name: Marianne T. Meil
	 	 	Title: Sr. Vice President

 

Signature Page to

Second Amended and Restated Credit Agreement

 

    	 

    	 

    

 

	 	KEYBANK NATIONAL ASSOCIATION,
	 	as a Lender
	 	 	 
	 	By:	/s/ Marianne T. Meil
	 	 	Name: Marianne T. Meil
	 	 	Title: Sr. Vice President

 

Signature Page to

Second Amended and Restated Credit Agreement

 

    	 

    

 

SCHEDULE
I

 

Commitments

 

	Lender	 	Commitments	 
	Royal Bank of Canada	 	$	37,500,000	.00
	KeyBank National Association	 	$	37,500,000	.00
	Total	 	$	75,000,000	.00

 

    	1

    	 

    

 

Schedule
4.2

 

Consents

 

None.

 

    	2

    	 

    

 

Schedule
4.3

 

Ownership of Borrower and Subsidiaries

 

	Name of Subsidiary	 	Direct Owner	 	Number of
 Shares
 Authorized	 	 	Number of
 Shares
 Outstanding	 	 	Ownership
 Percentage	 	 	Jurisdiction
 of
 Organization	 
	Francesca’s Collections, Inc.	 	Francesca’s LLC	 	 	1,000	 	 	 	1,000	 	 	 	100	%	 	 	Texas	 

 

    	3

    	 

    

 

Schedule
4.12

 

Labor Matters

 

None.

 

    	4

    	 

    

 

Schedule
4.13

 

List of Plans

 

Francesca’s Collections, Inc. 401(k) Retirement Plan,
effective on October 1, 2009.

 

    	5

    	 

    

 

Schedule
4.14

 

Environmental Matters

 

 

None.

 

    	6

    	 

    

 

Schedule
4.16

 

Real Property

 

Owned Real Property

 

None.

 

Leased Real Property

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	CORP	 	TX	 	New Corporate Office	 	8760 Clay Rd., Suite 100	 	Houston	 	TX	 	77080	 	 
	CORP	 	CA	 	California Buying Office	 	777 E 10th Street, Unit #403	 	Los Angeles	 	CA	 	90015	 	 
	001	 	TX	 	Woodway Village	 	6514 Woodway	 	Houston	 	TX	 	77057	 	 713-722-0754
	002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	003	 	TX	 	Champion Forest Plaza	 	5468 W. FM 1960	 	Houston	 	TX	 	77069	 	 832-249-6534
	004	 	TX	 	Mockingbird Station	 	5307 E Mockingbird Ln #105	 	Dallas	 	TX	 	75206	 	 214-370-3646
	005	 	TX	 	Preston Oaks	 	10720 Preston Rd. #1005	 	Dallas	 	TX	 	75230	 	 214-891-9866
	006	 	TX	 	Uptown Park	 	1141-08 Uptown Park Blvd.	 	Houston	 	TX	 	77056	 	 713-622-1254
	007	 	TX	 	University Park	 	1600 S. University #604	 	Fort Worth	 	TX	 	76107	 	 817-882-8077
	008	 	CA	 	Montana	 	1230 Montana Ave. #106	 	Santa Monica	 	CA	 	90403	 	 310-255-1988
	009	 	TX	 	Plano	 	1900 Preston #320	 	Plano	 	TX	 	75093	 	 214-473-8133
	010	 	LA	 	Canal Place	 	333 Canal St. #219	 	New Orleans	 	LA	 	70130	 	 504.581.4402
	011	 	IL	 	Geneva Commons	 	1520 Commons Dr.	 	Geneva	 	IL	 	60134	 	 630-262-9470
	012	 	IL	 	Church Street Plaza	 	1706 Maple Ave.	 	Evanston	 	IL	 	60201	 	 847-328-5459
	013	 	CA	 	Manhattan Village	 	3200 N. Sepulveda #D10	 	Manhattan Beach	 	CA	 	90266	 	 310-546-4700
	014	 	TX	 	Alamo Quarry Market	 	255 E. Basse Rd. #420	 	San Antonio	 	TX	 	78209	 	 210-822-1598
	015	 	TX	 	Westbank	 	3300 Bee Cave Rd. #420	 	Austin	 	TX	 	78746	 	 512-347-7508
	016	 	TX	 	Highland Village	 	4022 Westheimer	 	Houston	 	TX	 	77027	 	 713-961-3399
	017	 	TX	 	Arboretum	 	10000 Research Blvd #122 C-01	 	Austin	 	TX	 	78759	 	 512-795-9840
	018	 	IL	 	Lincoln Park	 	2012 N. Halsted Ave.	 	Chicago	 	IL	 	60614	 	 773-244-4075
	019	 	CA	 	La Jolla	 	1025 Prospect St. #160	 	La Jolla	 	CA	 	92037	 	 858-729-0350
	020	 	TX	 	Southlake	 	214 State St.	 	Southlake	 	TX	 	76092	 	 817-424-5353
	021	 	CA	 	Carlsbad	 	1923 Calle Barcelona #146	 	Carlsbad	 	CA	 	92024	 	 760-943-8644
	022	 	NV	 	Green Valley	 	2260 Village Walk, Suite 112	 	Henderson	 	NV	 	89052	 	 702-435-3288
	023	 	TX	 	Central Park	 	4001 N. Lamar, Suite 490	 	Austin	 	TX	 	78756	 	 512-323-2499
	025	 	CA	 	Long Beach	 	5257 E. 2nd St.	 	Long Beach	 	CA	 	90803	 	 562-856-3257
	026	 	CA	 	Rancho Cucamonga	 	7839 Kew Ave. Suite 5620	 	Rancho Cucamonga	 	CA	 	91739	 	 909-899-5751
	027	 	OK	 	Edmond	 	1470 S Bryant Ave	 	Edmond	 	OK	 	73034	 	 405-359-7576
	028	 	IL	 	Rennaisance Place	 	1850 2nd St #106	 	Highland Park	 	IL	 	60035	 	 847-926-8278
	029	 	TN	 	Saddle Creek	 	7615 W. Farmington Blvd. Ste. 33	 	Germantown	 	TN	 	38138	 	 901-753-6847
	030	 	LA	 	Bellemead	 	6535 Youree Dr. Suite 501	 	Shreveport	 	LA	 	71105	 	 318-798-8484
	031	 	NE	 	Village Pointe	 	17151 Davenport #113	 	Omaha	 	NE	 	68118	 	 402-359-1312
	032	 	MN	 	Arbor Lake	 	12121 Elm Creek Blvd.	 	Maple Grove	 	MN	 	55369	 	 763-425-3252
	033	 	CT 	 	The Shoppes at Buckland Hills	 	194 Buckland Hills Dr. Suite 1056	 	Manchester	 	CT	 	6042	 	 
	034	 	AL	 	Summit	 	200 Summit Blvd. Ste #600	 	Birmingham	 	AL	 	35243	 	 205-969-2432
	035	 	IL	 	Deer Park	 	20530 N. Rand Rd. Ste #344	 	Deer Park	 	IL	 	60010	 	 847-726-2363
	036	 	WI	 	Greenway Lakes	 	1650 Deming Way Ste #108	 	Middleton	 	WI	 	53562	 	 608-831-6630
	037	 	MN	 	Woodbury Lake	 	9020 Hudson Rd Ste 412	 	Woodbury	 	MN	 	55125	 	 651-730-0608
	038	 	TN	 	Carriage Crossing	 	4610  Merchant's Park Cir.#557	 	Collierville	 	TN.	 	38017	 	 901-861-3287
	039	 	IL	 	Orland Park	 	14215 La Grange Rd. Space 124	 	Orland Park	 	IL	 	60462	 	 708-349-8490
	040	 	OH	 	Easton Town Center	 	108 Easton Town Center	 	Columbus	 	OH.	 	43219	 	 614-476-6410
	041	 	KY	 	Crestview Hills Town Center	 	2868 Town Center Blvd. St.7055	 	Crestview Hills	 	KY.	 	41017	 	 859-341-4426
	043	 	AL	 	Shoppes at Eastchase	 	6830 Eastchase Pkwy	 	Montgomery	 	AL.	 	36117	 	 334-271-2110

 

    	7

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	044	 	NE	 	Southpoint Pavillions	 	2910 Pine Lake Road Suite L	 	Lincoln	 	NE.	 	68516	 	 402-421-1589
	045	 	CO	 	Promenade Shops at Centerra	 	5855 Sky Pond Dr. Ste. # F124	 	Loveland	 	CO.	 	80538	 	 970-663-9004
	046	 	OK	 	Brookhaven Village Plaza	 	3720 West Robinson Suite 128	 	Oklahoma City	 	OK	 	73072	 	 405-360-2891
	047	 	OH	 	Levis Common	 	3195 Levis Commons Blv.#285	 	Perrysburg	 	OH.	 	43551	 	 419-874-3580
	048	 	TN	 	Hamilton Corner	 	2115 Gunbarrel Rd. #C	 	Chattanoga	 	TN.	 	37421	 	 423-893-8978
	049	 	TN	 	The Pinnacle at Turkey Creek	 	11347 Parkside Drive	 	Knoxville	 	TN	 	37934	 	 865-675-6361
	050	 	AR	 	Turtle Creek	 	3000 E. Highland Dr. Ste#413	 	Jonesboro	 	AR	 	72401	 	 870 336-2674
	051	 	AL	 	Eastern Shore Center	 	30500 State Hwy 181 Ste# 313	 	Spanish Fort	 	AL	 	36527	 	 251-621-5740
	052	 	FL	 	The Avenue	 	2261 Town Center Ave. Suite 105	 	Viera	 	FL	 	32940	 	 321-639-3200
	053	 	GA	 	The Avenue Webb Gin	 	1350 Scenic Highway, Spc 316	 	Snellville	 	GA	 	30078	 	 678 344 0112
	054	 	TX	 	Woodlands Market Street	 	9595 Six Pines Dr. Ste 870	 	The Woodlands	 	TX	 	77380	 	 281-419-3750
	055	 	MO	 	Branson Landing	 	319 Branson Landing	 	Branson	 	MO	 	65616	 	 417-335-4342
	056	 	OH	 	Beachcliff Market	 	19344 Detriot Rd Spc #A-112 	 	Rocky River	 	OH	 	44116	 	 440-333-3418
	057	 	OH	 	Legacy Village	 	24639 Cedar Rd.	 	Lyndhurst	 	OH	 	44124	 	 216-381-5390
	058	 	GA	 	West Cobb	 	3625 Dallas Hwy SW Spc #850	 	Marietta	 	GA	 	30064	 	 770-218-9351
	059	 	NC	 	Friendly Center	 	3326 W. Friendly Ste# 118	 	Greensboro	 	NC	 	27410	 	 336-856-1934
	060	 	CA	 	Galleria at Tyler	 	1299 Galleria at Tyler #G109	 	Riverside 	 	CA	 	92503	 	951-353-9513
	061	 	CO	 	Boulder	 	1850 29TH St Ste# 1012	 	Boulder	 	CO	 	80301	 	 303-442-1722
	062	 	CO	 	Southland Shopping Center	 	6235 S. Main St. Ste#108	 	Aurora	 	CO	 	80016	 	 720-274-5338
	063	 	PA	 	Saucon Valley	 	2960 Center Valley Parkway  #733	 	Center Valley	 	PA	 	18034	 	 610-798-9901
	064	 	AR	 	Little Rock Ark	 	207 N. University Ave.  #180	 	Little Rock	 	AR	 	72205	 	 501-660-4203
	065	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	066	 	TX	 	Inwood Village	 	5330 West Lover's Lane  #112	 	Dallas	 	TX.	 	75209	 	 214-351-0649
	067	 	GA	 	Abercorn Walk Shopping Center	 	5525 Abercorn St. Suite#55	 	Savannah	 	GA	 	31405	 	 912-355-7181
	068	 	FL	 	Bell Tower	 	13499 US 41 SE #119 Space C-304	 	Fort Myers	 	FL	 	33907	 	 239-267-5050
	069	 	SC	 	Mount Pleasant Town Center	 	1237 Belk Drive Suite S-2	 	Mt. Pleasant	 	SC	 	29464	 	 843 884 3958
	070	 	NC	 	Blakeney Center	 	9830 Rea Road Suite C	 	Charlotte	 	NC	 	28277	 	 704-544-3104
	071	 	TX	 	Arlington Highlands	 	3900 Arlington Highlands Blvd. #177	 	Arlington	 	TX	 	76018	 	 817-419-0371
	072	 	TX	 	La Palmera	 	5488 S. Padre Island Dr. #1430	 	Corpus Christi	 	TX 	 	78411	 	 
	073	 	TX	 	Shops at Highland Village	 	1400 Shoal Creek, Suite 170	 	Highland Village	 	TX	 	75077	 	 972-966-0400
	074	 	TX	 	Stone Oak	 	22702 US 281, Suite 110	 	San Antonio	 	TX	 	78259	 	 210-481-1382
	075	 	KS	 	Town Center Plaza	 	5000 W. 119th Street, Suite 200	 	Leawood	 	KS	 	66209	 	 913-696-1272
	076	 	TN	 	Hill Center	 	4017 Hillsboro Pike, Suite 308	 	Nashville	 	TN	 	37215	 	 615-783-0960
	077	 	TN	 	The Avenue	 	2615 Medical Center Pkwy Suite 1430	 	Murfreesboro	 	TN	 	37129	 	 615-893-7217
	078	 	IL	 	Southport Row	 	3539 N. Southport	 	Chicago	 	IL	 	60657	 	 773-248-4558
	079	 	NC	 	Mayfaire Town Center	 	6823 Main Street	 	Wilmington	 	NC	 	28405	 	 910-509-0083
	080	 	SC	 	King's Street Charleston	 	338 King Street Unit A	 	Charleston	 	SC	 	29401	 	 843-577-6848
	081	 	TX	 	Hill Country Galleria	 	12821 Hill Country Blvd., Suite C2-115	 	Bee Cave	 	TX	 	78738	 	 512-263-1993
	082	 	FL	 	Pembroke Gardens	 	505 SW 145th Terrace	 	Pembroke Pines	 	FL	 	33027	 	 954-885-5051
	083	 	LA	 	Perkins Rowe	 	10156 Perkins Rowe, Suite 120	 	Baton Rouge	 	LA	 	70810	 	 225-766-0275
	084	 	AZ	 	Parke West	 	9828 Northern Ave., Suite 1750	 	Peoria	 	AZ	 	85345	 	 623-772-0428
	085	 	AL	 	Bridge Street Town Center	 	340 The Bridge Street, Suite 140	 	Huntsville	 	AL	 	35806	 	 256-327-8595
	086	 	TN	 	Indian Lake Speciality Center	 	300 Indian Lake Blvd. Bldg. A Ste 160	 	Hendersonville	 	TN	 	37075	 	 615-822-1266
	087	 	GA	 	Vinings Jubilee	 	4300 Paces Ferry, Ste 257	 	Atlanta	 	GA	 	30339	 	770-431-7672

 

    	8

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	088	 	AZ	 	Kierland-Scottsdale	 	15211 N Kierland Blvd Suite 140	 	Scottsdale	 	AZ	 	85254	 	480-991-9481
	089	 	AZ	 	Arrowhead-Glendale	 	20022 North 67th Ave, Suite 122	 	Glendale	 	AZ	 	85308	 	623-376-2555
	090	 	IL	 	Bucktown	 	1920 W. North Ave	 	Chicago	 	IL	 	60622	 	773-486-0293
	091	 	AL	 	Zelda Place	 	2920-F Zelda Road	 	Montgomery	 	AL.	 	36106	 	344-277-9094
	092	 	LA	 	Magazaine Street	 	3333 Magazine Street	 	New Orleans	 	LA	 	70115	 	504-899-2118
	093	 	TX	 	Watter Creek	 	843 Market Street	 	Allen	 	TX	 	75013	 	214-383-2954
	094	 	MS	 	Dogwood Festival	 	110 Dogwood Blvd., suite G 3B	 	Flowood	 	MS	 	39232	 	601-992-9119
	095	 	MS	 	Rennisance Place	 	1000 Highland Colony Pkwy. Ste 1012	 	Ridgeland	 	MS	 	39157	 	601-856-2266
	096	 	NC	 	Birkdale	 	16845-B Birkdale Commons Pkwy.	 	Huntersville	 	NC	 	28078	 	704-896-9644
	097	 	AL	 	Legacy Village	 	9 DuRhu Dr. Suite 350	 	Mobile	 	AL	 	36608	 	251-342-1959
	098	 	AZ	 	Village Square @ Dana Park	 	1660 S. Val Vista Dr. Ste. 116	 	Mesa	 	AZ	 	85204	 	480-545-2685
	099	 	NC	 	Collumbia Cameron Village	 	424 Woodburn Ave. 	 	Raleigh	 	NC	 	27605	 	919-829-8250
	100	 	CO	 	Aspen Grove	 	7301 S. Santa Fe Dr. Unit 420 B	 	Littleton	 	CO	 	80120	 	303-794-4783
	101	 	NJ	 	Promenade at Sagemore	 	500 Route 73 South, Suite C-1	 	Marlton	 	NJ	 	8053	 	856-983-2400
	102	 	FL	 	Mizner Park	 	322 Plaza Real	 	Boca Raton	 	FL	 	33432	 	561-544-6892
	103	 	AZ	 	Casa Paloma	 	7131 West Ray Road, suite 26	 	Chandler	 	AZ	 	85226	 	480-753-3511
	104	 	SC	 	Market Common	 	3323 Reed Ave., Space A6-700	 	Myrtle Beach	 	SC	 	29577	 	843-238-9320
	105	 	GA	 	The Avenue Forsythe	 	410 Peachtree Pkwy, Bldg. #100, Suite  136	 	Cumming	 	GA	 	30041	 	 
	106	 	TX	 	Memorial City Mall	 	707 Memorial City Mall (Space 707A)	 	Houston	 	TX	 	77024	 	 
	107	 	IL	 		 	100 West Higgins Road, Suite F-35	 	South Barrington	 	IL	 	60010	 	 
	108	 	NE	 	Regency Center	 	120 Regency Parkway, Suite 152	 	Omaha	 	NE	 	68114	 	 
	109	 	NC	 	Crabtree Valley Mall	 	2840 Plaza Place, Ste 1084	 	Raleigh	 	NC	 	27615	 	 
	110	 	AR	 	Pinnacle Hills Promenade	 	2203 Promenade Blvd. Ste 2112	 	Rogers	 	AR	 	72758	 	 
	111	 	NC	 	 	 	284 South Stratford Rd.	 	Winston Salem	 	NC	 	27103	 	 
	112	 	FL	 	Promenade Lyons @ Coconut Creek	 	4425 Lyons Rd. Ste F-104	 	Coconut Creek	 	FL	 	33073	 	 
	113	 	TX	 	LaCantera	 	15300 LaCantera Pkwy, Ste 20100	 	San Antonio	 	TX	 	78256	 	 
	114	 	DE	 	Greenville Center - Unit E236	 	3801 Kennett Pike	 	Greenville	 	DE	 	19807	 	 
	115	 	FL	 	City Place 	 	701 Rosemary Ave, Suite 157	 	West Palm Beach	 	FL	 	33401	 	 
	116	 	AZ	 	La Encantada	 	2905 East Skyline Drive #143	 	Tuscan	 	AZ	 	85718	 	 
	117	 	IL	 	Wheaton	 	55 East Loop Road #107	 	Wheaton	 	IL	 	60187	 	 
	118	 	TX	 	Baybrook Mall 	 	500 Baybrook Mall, Suite 1198	 	Friendswood	 	TX	 	77546	 	 
	119	 	FL	 	Open Feb 09	 	4300 Legendary Dr., Suite B 104	 	Destin	 	FL	 	32541	 	 
	120	 	OK	 	Penn Square Mall	 	1901 NW Expressway, Suite 1009A	 	Oklahoma City	 	OK	 	73118	 	 
	121	 	FL	 	The Falls	 	888 SW 136st. , Suite 368	 	Miami	 	FL	 	33176	 	 
	122	 	MO	 	Saint Louis Galleria	 	1162 Saint Louis Galleria, Space #1162	 	St. Louis	 	MO	 	63117	 	 
	123	 	GA	 	The Forum	 	5165 Peachtree Pkwy, Suite 235	 	Norcross	 	GA	 	30092	 	 
	124	 	MO	 	Country Club Plaza	 	4724 Broadway	 	Kansas City	 	MO	 	64112	 	 
	125	 	NC	 	Southpark Mall	 	4400 Sharon Rd., Suite E07B	 	Charlotte	 	NC	 	28211	 	 
	126	 	OK	 	Woodland Hills Mall	 	7021 South Memorial Dr., Suite #184	 	Tulsa	 	OK	 	74133	 	 
	127	 	KS	 	Oak Park Mall	 	11445 W. 95th St.	 	Overland Park	 	KS	 	66214	 	 
	128	 	NY	 	Eastview Mall	 	180 Eastview Mall, Space B12	 	Victor	 	NY	 	14564	 	 
	129	 	KY	 	Walnut Street	 	5426 Walnut Street	 	Pittsburgh	 	PA	 	15232	 	 
	130	 	PA	 	Oxmoor Mall	 	7900 Shelbyville Raod #D06	 	Louisville	 	KY	 	40222	 	 
	131	 	NJ	 	Bridgewater	 	400 Commons Way #250	 	Bridgewater	 	NJ	 	0887	 	 

 

    	9

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	132	 	KS	 	Bradley Fair 	 	200 North Rock Rd, 3134	 	Witchita	 	KS	 	37206	 	 
	133	 	NM	 	ABQ Uptown	 	2261 Q Street NE, Suite 2F	 	Albuquerque	 	NM	 	87110	 	 
	134	 	FL	 	Merrick Park	 	370 San Lorenxo Ave, Ste 2430	 	Coral Gables	 	FL	 	33146	 	 
	135	 	MN	 	Rosedale Mall	 	111 Rosedale Center Space 195	 	Minneapolis	 	MN	 	55113	 	 
	136	 	WI	 	Bayshore 	 	5709 N Centerpark Way	 	Milwaukee	 	WI	 	53217	 	 
	137	 	FL	 	The Avenues-Jacksonville	 	10300 southside Blvd, Sute 1490B	 	Jacksonville	 	FL	 	32256	 	 
	138	 	GA	 	North Point Mall	 	1190 North Point Circle Ste 1190	 	Alpharetta	 	GA	 	30022	 	 
	139	 	FL	 	West Shore Plaza	 	286 West Shore Plaza, Ste B,6,A	 	Tampa	 	FL	 	33609	 	 
	140	 	MO	 	West County Mall	 	80 West County Center #1194	 	St. Louis	 	MO	 	63131	 	 
	141	 	IN	 	Castleton Mall	 	6020East 82nd St. Suite 878	 	Indianapolis	 	IN	 	46250	 	 
	142	 	PA	 	Park City Center	 	214 Park City Center	 	Lancaster	 	PA	 	17601	 	 
	143	 	WI	 	West Towne Mall	 	42 West Towne Mall, A10	 	Madison	 	WI	 	53719	 	 
	144	 	MA	 	Derby Street	 	92 Derby St #113	 	Hingham	 	MA	 	02043	 	 
	145	 	FL	 	The Galleria at Fort Lauderdale	 	2414 E. sunrise blvd room 2089	 	Ft. Lauderdale	 	FL	 	33304	 	 
	146	 	NC	 	Southpointe Mall	 	6910  Fayetteville Rd, Space #1155	 	Durham	 	NC	 	27713	 	 
	147	 	CT	 	Danbury Faire Mall	 	7 Backus Ave, Space G-109	 	Danbury	 	CT	 	06810	 	 
	148	 	NJ	 	Paramus Park	 	1105 Paramus Park	 	Paramus	 	NJ	 	07652	 	 
	149	 	RI	 	Providence Place	 	One Providence Place #3080	 	Providence 	 	RI	 	02903	 	 
	150	 	KY	 	The Summit Louisville KY	 	4262 summit Plaza Dr. C-9	 	Louisville	 	KY	 	40241	 	 
	151	 	MI	 	Village at Rochester Hills	 	160 N Adams Road	 	Rochester 	 	MI	 	48309	 	 
	152	 	AZ	 	Scottsdale Fashion	 	7014 E. Camelback rd# b-156	 	Scottsdale	 	AZ	 	85251	 	 
	153	 	MA	 	Cambridge Side Galleria	 	100 Cambridge Place #W-324	 	Boston	 	MA	 	02141	 	 
	154	 	IN	 	Clay Terrace	 	14395 Clay Terrace Blvd. #140	 	Carmel 	 	IN	 	46032	 	 
	155	 	NV	 	Town Square at Las Vegas	 	6593 Las Vegas Blvd #201	 	Las Vegas 	 	NV	 	89119	 	 
	156	 	IL	 	Northbrook Court	 	2171 Northbrook Ct. #2056	 	Northbrook 	 	IL	 	60062	 	 
	157	 	CT	 	Shops at Somerset Square	 	140 Glastonbury Blvd.	 	Glastonbury	 	CT	 	06033	 	 
	158	 	GA	 	The Avenue East Cobb	 	4475 Roswell Rd. #1520	 	Marietta 	 	GA	 	30062	 	 
	159	 	OH	 	Polaris Town Center	 	Polaris Fashion Place #1042	 	Columbus	 	OH	 	43240	 	 
	160	 	VA	 	Short Pump Town Center	 	11800 W. Broad St. #1044	 	Richmond 	 	VA	 	23233	 	 
	161	 	NJ	 	Rockaway Town Square	 	301 Mt Hope Aven #1018	 	Rockaway	 	NJ	 	07866	 	 
	162	 	MA	 	Shoppes at Legacy Place	 	640 Legacy Place 	 	Dedham 	 	MA	 	02026	 	 
	163	 	MD	 	Annapolis Mall	 	2002 Annapolis Mall #1484	 	Annapolis 	 	MD	 	21401	 	 
	164	 	SC	 	Columbiana Centre	 	100 Columbiana Cir. #1214	 	Columbiana	 	SC	 	29212	 	 
	165	 	AZ	 	Park Place Mall	 	5870 East Broadway Blvd #416	 	Tuscon	 	AZ	 	85711	 	 
	166	 	WI 	 	Brookfield Mall	 	95 N Moorland Rd. #D22	 	Brookfield	 	WI 	 	53005	 	 
	167	 	NJ	 	The Grove at Shrewsbury	 	597 Route 35	 	Shrewsbury	 	NJ	 	07702	 	 
	168	 	SC	 	Haywood Mall	 	106 Haywood Rd #1018	 	Greeenville	 	SC	 	29607	 	 
	169	 	NJ	 	Menlo Park Mall	 	100 Menlo Park #2425	 	Edison 	 	NJ	 	08837	 	 
	170	 	MA	 	South Shore Plaza	 	250 Granite St.	 	Braintree	 	MA	 	02184	 	 
	171	 	MN	 	Mall of America	 	60 East Broadway #S116	 	Bloomington	 	MN	 	55425	 	 
	172	 	MO	 	Independence Center	 	1704 Independence Center #2024	 	Independence	 	MO	 	64057	 	 
	173	 	VA	 	Barracks Road	 	1117 Emmet St.	 	Charlottesville	 	VA	 	22903	 	 
	174	 	IL	 	Old Orchard	 	4999 Old Orchard Center Sp. E 45	 	Skokie	 	IL	 	60077	 	 
	175	 	CA	 	Bay Street 	 	5659 Bat St.	 	Emeryville	 	CA	 	94608	 	 

 

    	10

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	176	 	IL	 	Oakbrook Center	 	100 Oakbrook Center #32	 	Oakbrook 	 	IL	 	60523	 	 
	177	 	MA	 	Natick Collection	 	1245 Worcester St	 	Natick 	 	MA	 	01760	 	 
	178	 	LA	 	Lakeside Mall	 	3301 Veterans Blvd #89	 	Metairie	 	LA	 	70002	 	 
	179	 	MI	 	Rivertown Crossing	 	4700 Canal Ave. SW #1050	 	Grandville	 	MI	 	49418	 	 
	180	 	RI	 	Garden City Center	 	100 Midway Rd. #9015	 	Cranston	 	RI	 	02920	 	 
	181	 	FL	 	Waterford Lakes 	 	413 N Alafaya Trail #105	 	Orlando	 	FL	 	32828	 	 
	182	 	NJ 	 	Newport Center	 	30 Mall Dr. West, Suite BO9A	 	Jersey City	 	NJ	 	7310	 	 
	183	 	OH	 	The Greene Town Center	 	73 Plum St. #G-118	 	Beaver Creek	 	OH	 	45440	 	 
	184	 	CA	 	Old Towne	 	29 University Center #E29	 	Los Gatos 	 	CA	 	95030	 	 
	185	 	SF	 	Stonestown	 	3251 20th Ave.  #118	 	San Francisco	 	CA	 	94132	 	 
	186	 	TN	 	Cool Springs Galleria	 	1800 Galleria Blvd. #1515	 	Franklin	 	TN	 	37067	 	 
	187 	 	OH	 	Kenwood Town Center	 	7875 Montgomery Rd. #R61	 	Cincinnati 	 	OH	 	45236	 	 
	188	 	AL	 	Riverchase Galleria	 	3000 Riverchase Galleria	 	Birmingham	 	AL	 	35244	 	 
	189	 	IA	 	Jordan Creek	 	101 Jordan Creek Pkwy, Suite #11172	 	West Des Moines	 	IA	 	50266	 	 
	190	 	CA	 	Oakridge Mall	 	925 Blossom Hill Rd	 	San Jose 	 	CA 	 	95123	 	 
	191	 	ME	 	Maine Mall	 	364 Maine Mall	 	South Portland	 	ME	 	4106	 	 
	192	 	CA 	 	Horton Plaza	 	324 Horton Plaza #151	 	San Diego 	 	CA	 	92101	 	 
	193	 	IL	 	Water Tower Place	 	835 N Michigan Ave.  Space #6020	 	Chicago	 	IL	 	60611	 	 
	194	 	FL	 	Altamonte Mall	 	451 East Altamonte Dr. #2333	 	Altamonte Springs	 	FL	 	32701	 	 
	195	 	WA	 	Alderwood Mall	 	3000 184th St. SW #494	 	Lynwood 	 	WA	 	90037	 	 
	196	 	CA	 	Glendale Galleria	 	1155 Glendale Galleria Space C006	 	Glendale	 	CA	 	91210	 	 
	197	 	NJ	 	Cherry Hill Mall	 	2000 Rt. 38 Space #514	 	Cherry Hill	 	NJ	 	08002	 	 
	198	 	OH	 	Crocker Park	 	161 Main Street	 	Westlake	 	OH	 	44145	 	 
	199	 	CA	 	North County Mall	 	272 E Via Rancho Pkwy	 	Escondido 	 	CA	 	92025	 	 
	200	 	TX	 	Deerbrook Mall	 	20131 Hwy 59 N.  Space 2328	 	Humble 	 	TX	 	77338	 	 
	201	 	WA	 	Pacific Place 	 	600 Pine St. #253	 	Seattle 	 	WA	 	98101	 	 
	202	 	VA	 	Lynnhaven Mall	 	701 Lynnhaven Parkway Suite #1068	 	Virginia Beach 	 	VA	 	23452	 	 
	203	 	TN	 	West Town Mall 	 	7600 Kingston Pike 1544A	 	Knoxville	 	TN	 	37919	 	 
	204	 	IA	 	Coral Ridge Mall	 	1451 Coral Ridge Ave. Space #402	 	Coralville 	 	IA	 	52241	 	 
	205	 	CA	 	Del Monte Shopping Center	 	690 Del Monte Center #18A	 	Monterrey 	 	CA 	 	93940	 	 
	206	 	MI	 	Twelve Oaks Mall	 	27500 Novi Road	 	Novi	 	MI	 	48377	 	 
	207	 	FL	 	The Oaks 	 	6419 Newberry Rd #A0013	 	Gainsville 	 	FL	 	32605	 	 
	208	 	CA	 	Galleria at Roseville	 	1151 Galleria Blvd. #148	 	Roseville	 	CA	 	95678	 	 
	209	 	WA	 	Southcenter 	 	611 Southcenter, #572	 	Seattle 	 	WA	 	98188	 	 
	210	 	CA	 	Village at Corte Madera	 	1618 Redwood Highway	 	Corte Madera	 	CA	 	94925	 	 
	211	 	CA	 	Valencia Town Center	 	24201 Valencia Blvd. #3537	 	Valencia	 	CA	 	91355	 	 
	212	 	CA	 	Fashion Valley 	 	7007 Friars Rd Suite#583	 	San Diego 	 	CA	 	92108	 	 
	213	 	TX	 	First Colony Mall  	 	16535 Southwest Freeway #275	 	Sugarland	 	TX	 	77479	 	 
	214	 	CA	 	Burlingame Avenue 	 	1235 Burlingame Ave	 	Burlingame	 	CA	 	94010	 	 
	215	 	CA	 	Arden Fair 	 	1689 Arden Way Suite #1167	 	Sacramento	 	CA	 	95815	 	 
	216	 	NV	 	Meadowood Mall	 	5000 Meadwood Mall Cir Space #D122	 	Reno 	 	NV	 	89502	 	 
	217	 	MD	 	Bethesda Row	 	7115 Arlington Rd., Space #14 	 	Bethesda	 	MD	 	20814	 	 
	218	 	FL	 	Miami Int. Mall 	 	1455 N.W. 107th Ave #596	 	Miami	 	FL	 	33172	 	 
	219	 	CT	 	Shoppes at Farmington Valley	 	110 Albany Turnpike Suite 711	 	Canton	 	CT	 	06019	 	 

 

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	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	220	 	NV	 	Rampart Commons	 	1037 S Rampart Blvd	 	Summerlin	 	NV	 	89117	 	 
	221	 	GA	 	Cumberland Mall	 	1000 Cumberland Dr. Space 1208	 	Atlanta	 	GA	 	30339	 	 
	222	 	NJ	 	Quarter at Tropicana	 	2801 Pacific Ave #2228	 	Atlantic City	 	NJ	 	08401	 	 
	223	 	IN	 	Circle Center 	 	49 W Maryland St Space E-16	 	Indianapolis	 	IN	 	46204	 	 
	224	 	NY	 	Carousel Center 	 	9090 Carousel Center Space F-206	 	Syracuse 	 	NY	 	13290	 	 
	225	 	NY	 	Walt Whitman 	 	 160 Walt Whitman Rd, Ste#1003a 	 	Huntington	 	NY	 	11746	 	 
	226	 	CA	 	The Oaks 	 	 548 W. Hilcrest Dr 	 	Thousand Oaks	 	CA	 	91360	 	 
	227	 	MD	 	Gallery at Harborplace	 	200 E Pratt St. #1010	 	Baltimore 	 	MD	 	21202	 	 
	228	 	CA	 	Del Amo 	 	3525 Carson St Suite 175	 	Torrance 	 	CA	 	90503	 	 
	229	 	SC	 	Barefoot Landing 	 	4816 Hwy 17 South	 	N.Myrtle Beach	 	SC	 	29582	 	 
	230	 	TX	 	La Plaza 	 	2200 10th Street SuiteE02A	 	McAllen	 	TX	 	78503	 	 
	231	 	MI	 	Mall At Partridge Creek	 	17360 Hall Road Space #179	 	Clinton Township	 	MI	 	48038	 	 
	232	 	NY	 	The Orchard 	 	4005 N Buffalo Road Suite #150	 	Orchard Park	 	NY	 	14128	 	 
	233	 	CT	 	Connecticut Post Mall	 	1201 Boston Post Rd Suite 2016	 	Milford	 	CT	 	06460	 	 
	234	 	MN	 	Ridgedale Mall	 	12323 Wayzata Blvd.	 	Minnetonka	 	MN	 	55305	 	 
	235	 	TX	 	Northeast Mall 	 	1101 Melbourne St Suite 3052	 	Hurst	 	TX	 	76053	 	 
	236	 	NY	 	Staten Island Mall	 	2655 Richmond Ave 	 	Staten Island	 	NY	 	10314	 	 
	237	 	WI	 	Fox River Mall 	 	4301 W Wisconsion Ave Suite 120	 	Appleton	 	WI	 	54913	 	 
	238	 	CA	 	Irvine Spectrum 	 	83 Fortune Dr Suite 237	 	Irvine	 	CA	 	92618	 	 
	239	 	NJ	 	Freehold Mall	 	3710 Rt.9  Suite	 	Freehold	 	NJ	 	07728	 	 
	240	 	MD	 	Towson Town Center	 	825 Dulaney Valley Rd 4090	 	Towson	 	MD	 	21204	 	 
	241	 	MA	 	Cape Cod Mall 	 	769 Lyannough Road Suite S184	 	Hyannis	 	MA	 	02601	 	 
	242	 	NJ	 	Ocean County Mall 	 	1201  Hooper Ave Suite 1081	 	Toms River	 	NJ	 	08753	 	 
	243	 	NY	 	Mall at Smith Haven	 	313 Smith Haven Mall #L20	 	Lake Grove	 	NY	 	11755	 	 
	244	 	VA	 	Reston Town Center 	 	11936 Market St	 	Reston	 	VA	 	20190	 	 
	245	 	VA	 	Fashion Center at Pentagon	 	1100 S. Hayes St. #Q-7	 	Arlington	 	VA	 	22202	 	 
	246	 	FL	 	Citrus Park Mall 	 	7949 Citrus Park Center	 	Tampa	 	FL	 	33625	 	 
	247	 	FL	 	Coral Square Mall 	 	9469 W. Atlantic Blvd Suite 9097A	 	Coral Springs	 	FL	 	33071	 	 
	248	 	MA	 	Mall at Solomon Pond  	 	601 Donald Lynch Blvd., Suite N 247	 	Malborough	 	MA	 	01752	 	 
	249	 	GA	 	Perimeter Mall 	 	4400 Ashford Dunwoody Road Ste. 2370	 	Atlanta	 	GA	 	30346	 	 
	250	 	IN	 	Glenbrook Square 	 	4201 Coldwater Blvd. Unit C03	 	Fort Wayne	 	IN	 	46805	 	 
	251	 	WI	 	Mayfair Mall   	 	2500 N. Mayfair Rd.  Space 264	 	Milwaukee	 	WI	 	53226	 	 
	252	 	OH	 	Mall at Summit 	 	3265 W. Market St. #556	 	Akron	 	OH	 	44333	 	 
	253	 	CA	 	Valley Plaza Mall	 	2701 Ming Ave .#253	 	Bakersfield	 	CA	 	93304	 	 
	254	 	KY	 	Fayette Mall 	 	3401 Nicholasville Rd. Suite 418	 	Lexington	 	KY	 	40503	 	 
	255	 	LA	 	Acadiana Mall	 	5725 Johnson Street, S[ace B-114	 	Lafayette	 	LA	 	70503	 	 
	256	 	MO	 	Battlefield Mall 	 	2825 S. Glenstone #U03A	 	Springfield	 	MO	 	65804	 	 
	257	 	TX	 	Westgate Mall 	 	7791 W. Interstate 40  Suite 320	 	Amarillo	 	TX	 	79121	 	 
	258	 	WA	 	Tacoma Mall 	 	4502 S. Steele St. #670	 	Tacoma	 	WA	 	98409	 	 
	259	 	NJ	 	Willowbrook Mall 	 	1505 Willowbrook Mall	 	Wayne	 	NJ	 	07470	 	 
	260	 	RI	 	Long Wharf Shops 	 	Thames & Long Wharf #F1	 	Newport	 	RI	 	02840	 	 
	261	 	FL	 	Coastland Mall 	 	1766 Tamiami Trail	 	Naples 	 	FL	 	34102	 	 
	262	 	CA	 	Shops at Mission Viejo	 	906 Shoppes at Mission Viejo	 	Mission Viejo 	 	CA	 	95691	 	 
	263	 	FL	 	Florida Mall	 	8001 S. Orange Blosson Trail	 	Orlando	 	FL	 	32809	 	 

 

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	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	264	 	NH	 	Pheasant Lane Mall	 	310 Daniel Webster Hwy #W227	 	Nashua	 	NH	 	03060	 	 
	265	 	VA	 	Chesterfield Town Center	 	11500 Midlothian Turnpike	 	Richmond 	 	VA	 	23235	 	 
	266	 	VA	 	Tyson's Corner 	 	7965 Tyson's Corner Center	 	McLean 	 	VA	 	22102	 	 
	267	 	CA	 	Blackhawk Plaza	 	3400 Blackhawk Plaza Circle, Space D12-6	 	Danville	 	CA	 	94506	 	 
	268	 	NJ	 	Shops at Riverside	 	One Riverside Square #240	 	Riverside 	 	NJ	 	07601	 	 
	269	 	NH	 	Mall at Rockingham Park	 	99 Rockingham Park Blvd. #E135	 	Salem	 	NH	 	03079	 	 
	270	 	IN	 	Hamilton Town Center	 	13170 Harrell Pkwy #400	 	Nobelsville	 	IN	 	46060	 	 
	271	 	PA	 	Ross Park Mall	 	1000 Ross Park Mall Dr. #H25	 	Pittsburgh	 	PA	 	15237	 	 
	272	 	MD	 	White Marsh Mall 	 	8200 Perry Hall Blvd #1125	 	Baltimore	 	MA	 	21236	 	 
	273	 	CA	 	Topanga 	 	6600 Topanga Canyon Blvd, #2074	 	Conoga Park	 	CA	 	91303	 	 
	274	 	ID	 	Boise Town Square	 	350 N. Milwaukee #1105	 	Boise 	 	ID	 	83704	 	 
	275	 	FL	 	Town Center at Boca Raton	 	6000 Galdes Road Suite 200	 	Boca Raton	 	FL	 	33431	 	 
	276	 	PA	 	Shoppes at Sesquehanna	 	2617 Brindle Drive #C2	 	Harrisburg	 	PA	 	17110	 	 
	277	 	MI	 	Woodland Mall 	 	3195  28th St. SE	 	Grand Rapids	 	MI	 	49512	 	 
	278	 	MO	 	The Meadows at Lake St.Louis	 	10 Meadows Circle Dr. #108	 	St. Louis	 	MO	 	63367	 	 
	279	 	MA	 	Longmeadow Shops	 	704 Bliss Road	 	Longmeadow	 	MA	 	01106	 	 
	280	 	IL	 	St. Clair Square	 	151 St. Clair Square	 	Fairview Heights	 	IL	 	62208	 	 
	281	 	CA	 	The Gardens at El Paseo	 	73-585 El Paseo #1102	 	Palm Desert	 	CA	 	92260	 	 
	282	 	OR 	 	Bridgeport Village	 	7351 SW Bridgeport Rd. 	 	Tigard	 	OR	 	97224	 	 
	283	 	CA	 	Universal City Walk	 	1000 Universal Studios Blvd. 	 	Hollywood	 	CA	 	91608	 	 
	284	 	CA	 	Fashion Island	 	100 Innovation Dr.	 	Newport Beach	 	CA	 	92660	 	 
	285	 	NJ	 	Garden State	 	1 Garden State Plaza #2131	 	Paramus	 	NJ	 	07652	 	 
	286	 	IL	 	#39RL Orland Square Mall 	 	288 Orland Square	 	Orland Park	 	IL	 	60462	 	 
	287	 	CA	 	Main Place	 	2800 N. Main St #348	 	Santa Ana	 	CA	 	92705	 	 
	288	 	AZ	 	San Tan Village	 	2218 E Willians Field Rd. Suite 632	 	Gilbert	 	 AZ	 	85295	 	 
	289	 	FL	 	Coconut Point 	 	23161 Fashion Drive Suite 121	 	Estero	 	FL	 	33928	 	 
	290	 	AR	 	Promenade at Chenal 	 	17711 Chenal Parkway Suite C-108	 	Little Rock	 	AR	 	72223	 	 
	291	 	CA	 	Santa Anita 	 	400 Baldwin Ave Suite 372-L	 	Arcadia	 	CA	 	91007	 	 
	292	 	MD	 	Washingtonian Center 	 	19 Grand Corner Avenue	 	Gaithersburg	 	MD	 	20878	 	 
	293	 	GA	 	The Shoppes at River Crossing 	 	5080 Riverside Drive Suite 429	 	Macon	 	GA	 	31210	 	 
	294	 	MD	 	Festival at Woodholme 	 	1809 Reistertown Road, Suite 114	 	Baltimore	 	MD	 	21208	 	 
	295	 	FL	 	Cordova Mall 	 	5100 North 9th Ave Suite D431	 	Pensacola	 	FL	 	32504	 	 
	296	 	NY	 	Poughkeepsie Galleria 	 	2001 South Road Space B - 202	 	Poughkeepsie	 	NY	 	12601	 	 
	297	 	NJ	 	Deptford Mall 	 	1750 Deptford Center Rd Space 2029	 	Deptford	 	NJ	 	08096	 	 
	298	 	SC	 	Coligny Plaza	 	1 N. Forest Beach Dr. Building M Space 5	 	Hilton Head Island	 	SC	 	29928	 	 
	299	 	TX	 	Kingsgate Center 	 	8201 Quaker Ave, Suite 139	 	 Lubbock	 	TX	 	79429	 	 
	300	 	FL	 	Pier Park Mall 	 	600 Pier Park Drive Suite
    125	 	 Panama City	 	FL	 	32413	 	 
	301	 	NJ	 	Woodbridge Mall 	 	216 Woodbridge Center Drive 	 	Woodbridge	 	NJ	 	07095	 	 
	302	 	FL	 	Treasure Coast Mall 	 	3194 N.W. Federal Hwy.	 	Jensen Beach	 	FL	 	34957	 	 
	303	 	NY	 	Ridge Hill 	 	1Ridge Hill Boulevard Suite 1330	 	Yonkers	 	NY	 	10710	 	 
	304	 	NY	 	Crossgates Mall 	 	One Crossgates Mall Rd. Space
    B 232	 	Albany	 	NY	 	12203	 	 
	305	 	CA	 	Stoneridge Mall 	 	1336 Stoneridge Mall D-120	 	Pleasanton	 	CA	 	94588	 	 
	306	 	AZ	 	Chandler Fashion Square 	 	3111 W. Chandler Blvd Space 1196	 	Chandler	 	AZ	 	85226	 	 
	307	 	NC	 	Carolina Place 	 	11025 Carolina Place Parkway
    Space A-20	 	Pineville	 	NC	 	28134	 	 
	308	 	GA	 	Mall of Georgia 	 	3333 Buford Drive Suite 2015	 	Atlanta	 	GA	 	30519	 	 

 

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	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	309	 	GA	 	Town Center at Cobb  	 	400 Ernest Barrett Pkwy Suite 170	 	Kennesaw	 	GA	 	30144	 	 
	310	 	PA	 	South Hills Mall 	 	301 South Hills Village Suite 1070 A	 	Pittsburgh	 	PA	 	15241	 	 
	311	 	UT	 	Fashion Place	 	6191 South State Street #236	 	Salt Lake  City 	 	UT	 	84107	 	 
	312	 	UT	 	University Mall 	 	575 E. University Parkway Suite C55	 	Provo	 	UT	 	84097	 	 
	313	 	VT	 	Burlington Town Center 	 	49 Church St Burlington Space #1026	 	Burlington	 	VT	 	05401	 	 
	314	 	MN	 	Crossroads Mall 	 	4101 West Division Street Suite B0027	 	St. Cloud	 	MN	 	56301	 	 
	315	 	CT	 	Trumbull Mall 	 	5065 Main Street Suite 2075	 	Trumbull 	 	CT	 	06611	 	 
	316	 	MN	 	Apache Mall 	 	333 Apache Mall Space 409	 	Rochester	 	MN	 	55902	 	 
	317	 	MO	 	Columbia Mall 	 	2300 Bernadette Drive Space #508	 	Columbia	 	MO	 	65203	 	 
	318	 	UT	 	The Gateway 	 	50 South Rio Grande St Suite 1085	 	Salt Lake City	 	UT	 	84101	 	 
	319	 	CA	 	Paseo Nuevo 	 	727 State Street 	 	Santa Barbara	 	CA	 	93101	 	 
	320	 	IL	 	Marketplace Mall 	 	2000 N Neil Street Space 370 	 	Champagne	 	IL	 	61820	 	 
	321	 	PA	 	Suburban Square	 	33 Coulter Ave 	 	Ardmore	 	PA	 	19003	 	 
	322	 	MO	 	Chesterfield Mall 	 	291 Cesterfield Mall, space 616	 	Chesterfield 	 	MO	 	63017	 	 
	323	 	IL	 	White Oaks Mall 	 	2501 Wabash Ave Space H05B	 	Springfiled	 	IL	 	 62704	 	 
	324	 	MN	 	Miller Hill Mall 	 	1600 Miller Trunk Highway Space L06  	 	Duluth 	 	MN	 	55811	 	 
	325	 	AR	 	Northwest Arkansas Mall 	 	4201 N. Shiloh Dr Space 1665 	 	Fayetteville	 	AR	 	72703	 	 
	326	 	AR	 	Central Mall	 	5111 Rodgers Avenue Suite 160 	 	Fort Smith 	 	AR	 	 72903	 	 
	327	 	IN	 	Greenwood Park Mall 	 	1251 US Highway 31 N Space #D11B 	 	Greenwood	 	IN	 	46142	 	 
	328	 	TX	 	Shops at Legacy	 	7201 Bishop Road Ste E-9 	 	Plano	 	TX	 	75024	 	 
	329	 	IN	 	University Park Mall 	 	6501 North Grape Space 108 Mishawaka	 	Mishawaka	 	IN	 	46545	 	 
	330	 	PA	 	Monroeville Mall 	 	225A Monroeville Mall Monroeville	 	Monroeville	 	PA	 	15146	 	 
	331	 	MI	 	Briarwood Mall 	 	264 Briarwood Circle,G-106, Ann Arbor	 	Ann Arbor	 	MI	 	48108	 	 
	332	 	MN	 	Southdale  Center	 	10 Southdale Center Suite 1750  Edina	 	Edina	 	MN	 	55435	 	 
	333	 	WI	 	Bay Park Square 	 	2401 South Oneida St. Space 645 Square Green
    Bay	 	Green Bay	 	WI	 	54304	 	 
	334	 	CA	 	Promenade at Peninsula	 	550 Deep Valley Dr Suite 266 Rolling Hills
    Estates	 	Rolling Hills	 	CA	 	 90274	 	 
	335	 	CT	 	Waterford Commons  	 	915 Hartford Turnpike, space# 29, waterford,
    CT 	 	Waterford	 	CT	 	06385	 	 
	336	 	MO	 	South County Mall 	 	18 south county centerway, suite 301, St.
    Louis, MO	 	St. Louis	 	MO	 	 63129	 	 
	337	 	PA	 	Shops at Montage	 	2451 Shoppes Blvd 	 	Moosic	 	PA	 	18507	 	 
	338	 	PA	 	Millcreek Mall 	 	654 Millcreek Mall Unit 420	 	 Erie	 	PA	 	16565	 	 
	339	 	OH	 	Southpark Mall 	 	500 South Park Center  Space AL-152	 	 Strongsville	 	OH	 	44136	 	 
	340	 	VA	 	MacArthur Mall 	 	300 Monticello Ave. Suite #285 	 	Norfolk	 	VA	 	23510	 	 
	341	 	VA	 	Fair Oaks Mall  	 	11750 FAIR OAKS MALL, SPACE K-113	 	Fairfax	 	VA	 	 22033	 	 
	342	 	NY	 	Palisades Center 	 	2671 Palisades Center Drive 	 	West Nyack	 	NY	 	10994 	 	 
	343	 	MI	 	Laurel Park Place 	 	37562 W. 6 Mile Road Suite G-510 	 	Livonia	 	MI	 	48152	 	 
	344	 	CA	 	San Francisco Center 	 	865 MARKET STREET suite 212	 	San Francisco	 	CA	 	 94103	 	 
	345	 	OH	 	Deerfield Town Center	 	5615 Deerfield Blvd. Space 3100 	 	Mason	 	OH	 	45040	 	 
	346	 	MD	 	Mall in Columbia 	 	10300 LITTLE PATUXENT PARKWAY, SPACE 2800,	 	Columbia	 	MD	 	21044	 	 
	347	 	OH	 	Mall at Tuttle Crossing 	 	5043 Tuttle Crossing Blvd Suite 162 	 	Dublin	 	OH	 	43016	 	 
	348	 	CA	 	Hillsdale Shopping Center	 	158 HILLSDALE SHOPPING CENTER, SUITE 1350	 	San Mateo	 	CA	 	94403	 	 
	349	 	LA	 	Pecanland Mall 	 	4700 MILLHAVEN RD, SUITE 1042	 	Monroe 	 	LA	 	71203	 	 
	350	 	PA	 	Willow Grove Mall	 	2500 Moreland Road Suite 2069 	 	Willow Grove	 	PA	 	19090	 	 
	2001	 	TX	 	Houston Premium Outlets	 	29300 Hempstead Rd Suite 300	 	Cypress	 	TX	 	77433	 	 
	351	 	CA	 	Otay Ranch	 	2015 Birch Road Suite 903 	 	Chula Vista	 	CA	 	91915	 	 
	352	 	IL	 	Hawthorne	 	122 Hawthorn Center Space 405 	 	Vernon Hills 	 	IL	 	 60061	 	 
	353	 	MI	 	The Crossroads	 	6650 South Westnedge Ave., Suite 216 	 	Portage	 	MI	 	49024	 	 

 

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	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	354	 	GA	 	Augusta Mall 	 	3450 WRIGHTSBORO RD, SUITE 2090	 	Augusta	 	GA	 	30909	 	 
	355	 	WV	 	Charleston Town Center	 	3000 CHARELSTON TOWN CENTER, SUITE 1019	 	Charleston	 	WV	 	 25389	 	 
	356	 	OR	 	NW 23rd Street	 	940 NW 23rd, Suite 103 	 	Portland	 	OR	 	97210	 	 
	357	 	GA	 	Avenue at Peachtree City 	 	239 CITY CIRCLE, SUITE 900	 	Peachtree City	 	GA	 	30069	 	 
	358	 	IL	 	25 W. Jefferson	 	25 W. JEFFERSON	 	NAPIERVILLE	 	IL	 	60540	 	 
	359	 	OK	 	Quail Springs Mall	 	2501 West Memorial Road, Suite 149 	 	Oklahoma City	 	OK	 	73134	 	 
	360	 	CA	 	Visalia Mall	 	2201 S. Mooney Blvd Visalia	 	Visalia	 	CA	 	93277	 	 
	361	 	FL	 	Hyde Park	 	712 S. Village Circle F6 Tampa	 	Tampa	 	FL	 	33606	 	 
	362	 	IN	 	Eastland Mall	 	800 N. Green River Rd Space 72 Evansville	 	Evansville	 	IN	 	47715	 	 
	363	 	MN	 	Calhoun Square	 	3001 Hennepin Ave S. Suite 301A Minneapolis	 	Minneapolis	 	MN	 	55408	 	 
	364	 	NV	 	Fashion Show	 	3200 Las Vegas Blvd South Space 2500
    	 	Las Vegas	 	NV	 	89109	 	 
	365	 	TX	 	Post Oak Mall	 	1500 Harvey Road, Suite 5012	 	College Station	 	TX	 	77840	 	 
	366	 	PA	 	Neshaminy Mall	 	636 Neshaminy Mall Bensalem	 	Bensalem	 	PA	 	19020	 	 
	367	 	KS	 	742 Massachusettes	 	742 Massachussettes St	 	Lawrence	 	PA	 	66044	 	 
	368	 	OR	 	Lake View Village	 	355 1st street, Suite 121	 	Lake Oswego	 	OR	 	97034	 	 
	369	 	MA	 	Wareham Crossing	 	2421 Cranberry Highway, Suite 432	 	Wareham	 	MA	 	02571	 	 
	370	 	TX	 	Pearland Town Center	 	11200 Broadway Street, Suite 1365,	 	Pearland	 	TX	 	76132	 	 
	371	 	VA	 	Boonesboro Shopping Center	 	4925 Boonsboro Rd 	 	Lynchburg	 	VA	 	24503	 	 
	372	 	TX	 	Hulen Mall	 	4800 S. Hulen Street Suite 137a	 	Fort Worth	 	TX	 	76132	 	 
	373	 	NV	 	Miracle Mile Shops	 	3663 Las Vegas Blvd South, Space D34	 	Las Vegas	 	NV	 	89109-1969	 	 
	374	 	TX	 	Firewheel Town Center	 	265 Cedar Sage Drive	 	Garland	 	TX	 	75040	 	 
	375	 	CO	 	Promenade at Briargate	 	1645 Briargate Parkway, Suite 209	 	Colorado Springs	 	CO	 	80920	 	 
	376	 	VA	 	Peninsula Town Center	 	1661 Merchant Lane Suite D-106	 	Hampton	 	VA	 	23666	 	 
	377	 	AL	 	Midtown Village	 	1800 McFarland Blvd Suite 217	 	Tuscaloosa	 	AL	 	35404	 	 
	378	 	TX	 	2nd Street Austin	 	241 W 2nd Street	 	Austin 	 	TX	 	78701	 	 
	379	 	CA	 	Clocktower	 	3569 A&B Mt Diabli Blvd	 	Lafayette	 	CA	 	94549	 	 
	380	 	LA	 	Oakwood Center	 	197 Westbank Expressway Suite 1085	 	Gretna	 	LA	 	70053	 	 
	381	 	PA	 	Glen Eagle Sqaure	 	477 Wilmington West Chester Pike #D26	 	Glen Mills	 	PA	 	19342	 	 
	382	 	AL	 	Parkway Place	 	2801 Memorial Parkway South Space #166	 	Huntsville	 	AL	 	35801	 	 
	383	 	GA	 	Emory Point	 	855 Emory Point Drive, Suite C-155	 	Atlanta	 	GA	 	30329	 	 
	384	 	MA	 	Mansfield Crossing	 	112 Eisenhower Parkway Space #1014	 	Mansfield	 	MA	 	07039	 	 
	385	 	IN	 	College Mall	 	894 E. Third St  #C07E	 	Bloomington 	 	IN	 	47401	 	 
	386	 	IN	 	Tippecanoe Mall	 	2415 Sagamore Parkway S. #D20	 	Lafayette	 	IN	 	47905	 	 
	387	 	KY	 	Greenwood Mall	 	2625 Scottsville RD, Space 120	 	Bowling Green	 	KY	 	42104	 	 
	388	 	MA	 	Emerald Sqaure	 	999 South Washington Sreet Space E345
    	 	North Attleboro	 	MA	 	02760	 	 
	389	 	OR	 	Old Mill District	 	520 SW Powerhouse Drive #60	 	Bend	 	OR	 	97702	 	 
	390	 	PA	 	Oxford Valley	 	2300 E Lincoln Hwy Suite 1071B	 	Langhorne	 	PA	 	19047	 	 
	391	 	MS	 	Barnes Crossing	 	1001 Barnes Crossing Road Suite 205 	 	Tupelo	 	MS	 	38804	 	 
	392	 	NY	 	Boulevard Mall	 	730 Alberta Drive, Suite 341	 	Amherst	 	NY	 	14226	 	 
	393	 	NJ	 	161 E. Broad Street	 	161 East Broad Street	 	Westfield	 	NJ	 	07090	 	 
	394	 	NJ	 	Shoppes at Union Hill	 	3056 State Route 10 West, Suite T	 	Denville	 	NJ	 	07834	 	 
	395	 	FL	 	Delray Marketplace	 	9025 W Atlantic Ave	 	Delray Beach	 	FL	 	33446	 	 
	396	 	FL	 	Shops at Wiregrass	 	28211 Paseo Dr, Suite 215	 	Wesley Chappel	 	FL	 	33543	 	 
	397	 	MD	 	Hunt Valley Town Center	 	118 swawan road, suite 118	 	Hunt Valley	 	MD	 	21030	 	 
	398	 	PA	 	Exton Square Mall	 	260 Exton Square Parkway Unit 2700	 	Exton	 	PA	 	19341	 	 
	399	 	PA	 	Montgomery Mall	 	230 Montgomery Mall, Room 2033B	 	North Wales	 	PA	 	19454	 	 

 

    	15

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	2002	 	TX	 	Galveston Premium	 	5885 Gulf Freeway Space #375	 	Texas City	 	TX 	 	77591	 	 
	2003	 	TX	 	San Marcos Premium 	 	3939 IH-35 South Suite #185 	 	San Marcos	 	TX	 	78666	 	 
	400	 	CO	 	Park Meadows	 	8505 Park Meadows Center Dr Space 2553	 	Lone Tree	 	CO	 	80124	 	 
	401	 	MI	 	Eastwood Town Center	 	3034 Towne Centre Blvd Space 42	 	Lansing	 	MI	 	48912	 	 
	402	 	WV	 	Morgantown Mall	 	9707 Mall Road Morgantown, space 707	 	Morgantown	 	WV	 	26501	 	 
	403	 	WA	 	Bellis Fair	 	1 Bellis Fair Parkway Suite 406	 	Bellingham	 	WA	 	98226	 	 
	404	 	MD	 	Bowie Town Center	 	15606 Emerald Way, Unit B01	 	Bowie	 	MD	 	20716	 	 
	405	 	VA	 	631 King Street	 	631 King street, suite 201	 	Alexandria 	 	VA	 	22314	 	 
	406	 	LA	 	The Village at Pelican Point	 	2885 Highway 190, Building C Suite A 	 	Mandeville	 	LA	 	70471	 	 
	407	 	MI	 	115 S. Old Woodward	 	115. South Old Woodward	 	Birmingham	 	MI	 	48009	 	 
	408	 	TX	 	Midland Park Mall	 	4511 N Mikiff Dr. Space #F-10	 	Midland	 	TX	 	78705	 	 
	409	 	NM	 	Mall of New Hampshire	 	1500 South Willow Street, E109	 	Manchester	 	NM	 	3103	 	 
	410	 	NJ	 	Livingston Mall	 	112 Eisenhower Parkway Space #1014	 	Livingston	 	NJ	 	07039	 	 
	411	 	OH	 	Great Lakes Mall	 	7850 Mentor Ave, 327A	 	Mentor	 	OH	 	44060	 	 
	412	 	WA	 	Spokane Valley	 	14700 E. Indiana Ave Space #1150 	 	Spokane	 	WA	 	99216	 	 
	413	 	TN	 	Old Hickory Mall	 	2021 North Highland Avenue Suite #A6  	 	Jackson	 	TN	 	38305	 	 
	414	 	MN	 	River Hills Mall	 	1850 Adams Street , Space 0218	 	Mankato	 	MN	 	56001	 	 
	130RL	 	KY	 	Oxmoor Valley Mall	 	7900 Shelbyville Rd, Suite E04	 	Louisville	 	KY	 	40222	 	 
	415	 	OR	 	Oakway Center	 	20 Oakway Center 	 	Eugene	 	OR	 	97401	 	 
	416	 	WA	 	Capital Mall	 	625 Black Lake Blvd, E15	 	Olympia	 	WA	 	98502	 	 
	417	 	WA	 	Vancouver Mall	 	8700 NE Vancouver Mall Drive Suite 134
    	 	Vancouver	 	WA	 	98662	 	 
	418	 	NY	 	Roosevelt Field	 	630 Old Country Rd, Room 2029B	 	Garden City	 	NY	 	11530	 	 
	419	 	MN	 	Eden Prairie Mall	 	8251 Flying Cloud Drive,  Space
    1056	 	Eden Prairie	 	MN	 	55344	 	 
	420	 	NY	 	Woodbury Commons	 	8285 Jericho Turnpike 	 	Woodbury	 	NY	 	11797	 	 
	421	 	NM	 	CottonWood Mall	 	10000 Coors Blvd BYP NW, #C03B	 	Albuquerque	 	NM	 	87114	 	 
	422	 	CO	 	E. 2nd Street 	 	2800 E. 2nd Ave, Suite 106	 	Denver	 	CO	 	80206	 	 
	423	 	TX	 	Cielo Vista	 	8401 Gateway Blvd, West, space A01C	 	El Paso	 	TX	 	79925	 	 
	424	 	VA	 	Dulles Town Center	 	21100 Dulles Town Circle Suite 177 	 	Dulles	 	VA	 	20166	 	 
	425	 	IL	 	Shops at Grand Prairie	 	5201 W. War Memorial Drive, Suite 445	 	Peoria	 	IL	 	61615	 	 
	426	 	IL	 	Shops at College Hill	 	307 Veteran's Parkway, Suite 515	 	Normal	 	IL	 	61761	 	 
	427	 	AR	 	McCain Mall	 	3929 McCain BLVD. F05A	 	N. Little Rock	 	AR	 	72116	 	 
	428	 	TX	 	Galleria Dallas	 	13350 dallas Parkway # 2415	 	Dallas	 	TX	 	75240	 	 
	429	 	OH	 	Franklin Park	 	5001 Monroe Street, suite 1594	 	Toledo	 	OH	 	43623	 	 
	430	 	OH	 	Rookwood Commons	 	2687 Edmandson Rd	 	Cinncinnati	 	OH	 	45209	 	 
	431	 	CA	 	Fresno Fashion Fair	 	685 E. Shaw Avenue	 	Fresno	 	CA	 	93710	 	 
	432	 	CA	 	Shops at Vintage Oaks	 	208 Vintage Way, Suite K107	 	Novato	 	CA	 	94945	 	 
	433	 	MO	 	Summit Fair	 	860 NW Blue Parkway, space D-116	 	Lee's Summit	 	MO	 	64086	 	 
	434	 	NY	 	Jefferson Valley Mall 	 	650 Lee Blvd Yorktown Heights	 	Yorktown	 	NY	 	10598	 	 
	435	 	DC	 	Union Station	 	40 Massachusette Ave. NE-2W Suite Z207	 	Washington	 	DC	 	20002	 	 
	437	 	OH	 	Shops at Bradley Park	 	6301 Whitesville Rd, Suite 200	 	Columbus	 	OH	 	31904	 	 
	436	 	IL	 	Roosevelt Collection	 	1127 S. Delano Court East, D11	 	Chicago	 	IL	 	60605	 	 
	438	 	LA	 	Prien Lake	 	496 West Prien Lake Road, G13	 	Lake Charles	 	LA	 	70601	 	 
	439	 	NY	 	2345 Broadway	 	2345 Broadway	 	New York	 	NY	 	10024	 	 
	440	 	WI	 	Southridge Mall	 	5300 S 76th St #1550 	 	Milwaukee	 	WI	 	53129	 	 
	441	 	TN	 	Wolfchase Galleria	 	2760 N German Parkway, Space 1485	 	Memphis	 	TN	 	38133	 	 
	442	 	MA	 	Marketstreet at Lynnfield	 	427 Walnut St., Suite 1320	 	Lynnfield	 	MA	 	01940	 	 
	443	 	CA	 	522 Hartz Avenue	 	522 Hartz Ave. Suite A	 	Danville	 	CA	 	94526	 	 

 

    	16

    	 

    

 

	Store

    No.	 	State	 	Center
    Name	 	Address	 	City	 	State	 	Zip	 	Phone
    #
	444	 	MA	 	Northshore Mall	 	210 Andover St W141 Peabody	 	Peabody	 	MA	 	01960	 	 
	445	 	CA	 	Town and Country SC	 	855 El Camino Real, Suite 10,	 	Palo Alto	 	CA	 	94306	 	 
	446	 	MD	 	Montgomery	 	7101 Democracy Blvd. #1030 	 	Bethesda	 	MD	 	20817	 	 
	447	 	ND	 	West Acres Mall	 	3902 13th Ave S Suite 4305 	 	Fargo	 	ND	 	58103	 	 
	448	 	MA	 	Chestnut Hill Square	 	Boylston Street (Rte9), suite B103	 	Chesnut Hill	 	MA	 	02467	 	 
	 	 	MN	 	West End	 	1621 West End Blvd. 'Suite 3220	 	St Louis Park	 	MN	 	55416	 	 
	 	 	MI	 	Southland Mall	 	23000 Eureka Road, 'Space 1585	 	Taylor	 	MI	 	48180	 	 
	 	 	NC	 	Cross Creek Mall	 	418 Cross Creek Mall 'Space 7	 	Fayetteville	 	NC	 	28303	 	 
	 	 	OH	 	Southern Park Mall	 	7401 Market Street, 'Space 265	 	Youngstown	 	OH	 	44512	 	 
	 	 	WI	 	Oakwood Mall	 	 4800 Gulf Road, Space 332	 	Eau Claire	 	WI	 	54701	 	 
	 	 	FL	 	Miracle Plaza	 	1815 Thomasville Road 'Suite E	 	Tallahassee	 	FL	 	32303	 	 
	 	 	KY	 	Lexington Green	 	161 lexington Green Circle	 	Lexington	 	KY	 	40503	 	 
	 	 	ID	 	Village at Meridian	 	N Eagle @ E. Fairview, space J-150	 	Meridian	 	ID	 	83642	 	 
	 	 	TX	 	Longview Mall	 	3500 McCann Road Suite H07B	 	longview	 	TX	 	75605	 	 
	 	 	IA	 	Northpark Mall	 	320 W. Kimberly Rd. Suite 0032	 	Davenport	 	IA	 	52806	 	 
	 	 	KS	 	Manhattan Town Center	 	100 Manhattan center, 'Suite 225	 	Manhattan	 	KS	 	66502	 	 
	 	 	DE	 	Dover Mall	 	1365 N DuPOnt HWY, suite 3036A	 	Dover	 	DE	 	19901	 	 
	 	 	FL	 	Seminole Town Center	 	200 Towne center Circle, 'B11B	 	Seminole	 	FL	 	32771	 	 
	 	 	FL	 	Southgate	 	3501 S. Tamiami Trail, 'Space 1048	 	Sarasota	 	FL	 	34239	 	 
	 	 	ND	 	Dakota Square	 	2400 10th street, SW Suite 403 & 402A	 	Minot	 	ND	 	58701	 	 
	 	 	SC	 	Trenholm Plaza	 	4840 Forest Drive, 'Suite 60	 	Columbia	 	SC	 	29206	 	 
	 	 	ND	 	Kirkwood	 	744 Kirkwood Mall, Suite 300	 	Bismarck	 	ND	 	58504	 	 
	 	 	MA	 	Square One Mall	 	1201 Broadway, Suite E237	 	Suagus	 	MA	 	01906	 	 
	 	 	DE	 	Christiana Mall	 	513 Christiana Mall	 	Newark	 	DE	 	19702	 	 
	 	 	SD	 	Rushmore Mall	 	220 N Maple Ave, Suite 0416	 	Rapid City 	 	SD	 	57701	 	 
	 	 	IA	 	Southern Hills Mall	 	4400 Sergeant Rd, Suite 310	 	Sioux City	 	IA	 	51106	 	 
	 	 	NY	 	Wilton Mall	 	3065 Route 50, suite 25	 	Saratoga Springs	 	NY	 	12866	 	 
	 	 	VA	 	Promenade at Va Gateway	 	Linton Hall Rd, Space G-4	 	Gainsville 	 	VA	 	20155	 	 
	 	 	PA	 	Lehigh Valley	 	250 Lehgh Valley Dr, space 1069A	 	Whithall	 	PA	 	10852	 	 
	 	 	MN	 	Burnsville Center	 	1178 Burnsville center, Space 1034	 	Burnsville	 	MN	 	55306	 	 
	 	 	MN	 	Maplewood Square	 	3001 White Bear Ave, Suite 1010c	 	St Paul	 	MN 	 	55109	 	 
	 	 	TX	 	Broadway Square	 	4601 S. Boradway, Suite F08	 	Tyler	 	TX 	 	75703	 	 

 

    	17

    	 

    

 

Schedule
4.20

 

Insurance

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 
	WC 012055090	 	Workers’	 	10/05/12-13	 	Workers’ Compensation – Statutory	 	New Hampshire
	 	 	Compensation – All 	 	 	 	Employer’s Liability	 	Insurance Company
	 	 	Other States	 	 	 	$	1,000,000	 	 	Bodily Injury by Accident – Each
    Accident	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Each Employee Bodily Injury by Disease	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Policy Limit Bodily Injury by Disease	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Stop Gap	 	 	 	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Bodily Injury by Accident – Each
    Accident	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Each Employee Bodily Injury by Disease	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Policy Limit Bodily Injury by Disease	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	WC 012055091	 	Workers’	 	10/05/12-13	 	Workers’ Compensation – Statutory	 	The Insurance 
	 	 	Compensation –	 	 	 	 	 	 	 	 	 	Company of the State
	 	 	California	 	 	 	Employer’s Liability	 	of Pennsylvania 
	 	 	 	 	 	 	$	1,000,000	 	 	Bodily Injury by Accident – Each
    Accident	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Each Employee Bodily Injury by Disease	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Policy Limit Bodily Injury by Disease	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	GL 5076596	 	Commercial General	 	10/05/12-13	 	$	1,000,000	 	 	Each Occurrence Limit	 	The Insurance
	 	 	Liability	 	 	 	$	1,000,000	 	 	Personal & Advertising Injury Limit (Any One Person
    or Organization)	 	Company of the State
	 	 	 	 	 	 	$	2,000,000	 	 	General Aggregate Limit	 	of Pennsylvania
	 	 	 	 	 	 	$	5,000,000	 	 	General Aggregate Limit: Per Location	 	 
	 	 	 	 	 	 	$	2,000,000	 	 	Products-Completed Operations Aggregate
    Limit	 	 
	 	 	 	 	 	 	$	300,000	 	 	Damage to Premises Rented to You (any one
    premise)	 	 
	 	 	 	 	 	 	$	10,000	 	 	Medical Expense Limit (any one person)	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Employee Benefits Liability	 	 

 

    	18

    	 

    

 

FRANCESCA’S
COLLECTIONS

2012 COVERAGE
SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy
    Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 
	CA 3447461	 	Business Auto	 	10/05/12-10/01/13	 	$	1,000,000	 	 	Liability, Symbol 1	 	The Insurance
	 	 	Liability	 	 	 	Basic Benefits by State, Personal Injury Protection – Per
    Insured’s Selection, Symbol 5	 	Company of the State 

    of Pennsylvania
	 	 	 	 	 	 	$	1,000,000	 	 	Uninsured Motorists/Underinsured Motorists – Per
    Insured’s Selection, Symbol 2	 	
	 	 	 	 	 	 	$	50,000	 	 	Hired Car Physical Damage	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Physical Damage	 	 
	 	 	 	 	 	 	Limit – Except for Hired or Borrowed
    Autos: Actual Cash Value or Cost to Repair, whichever is less, Minus a Comprehensive / Collision Deductible for each covered
    auto of: $1,000, Symbol 2, 8	 	 
	 	 	 	 	 	 	If Symbol 8 is included above, Limit – for
    Hired or Borrowed Autos: Actual Cash Value or Cost to Repair, whichever is less, minus a Comprehensive / Collision Deductible
    for each covered auto of: $1,000, Symbol 8	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	BE 018715278	 	Umbrella Liability	 	10/05/12-10/01/13	 	$	10,000,000	 	 	Each Occurrence	 	Commerce & Industry
	 	 	 	 	 	 	$	10,000,000	 	 	General Aggregate in accordance with Section IV, Limits of Insurance	 	Insurance Company
	 	 	 	 	 	 	$	10,000,000	 	 	Products/Completed Operations Aggregate in accordance with Section
    IV, Limits of Insurance	 	 
	 	 	 	 	 	 	$	250,000	 	 	CrisisResponse Limit of Insurance	 	 
	 	 	 	 	 	 	$	50,000	 	 	Excess Casualty CrisisFund Limit of Insurance	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	SIR:	 	 	 	 	 	 
	 	 	 	 	 	 	$	10,000	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	WS11003053	 	International Package	 	10/05/12-10/01/13	 	Foreign Commercial General Liability	 	Insurance Company of
	 	 	 	 	 	 	$	2,000,000	 	 	Master Control Program Aggregate Limit	 	the State of
	 	 	 	 	 	 	$	1,000,000	 	 	General Aggregate Limit	 	Pennsylvania
	 	 	 	 	 	 	$	1,000,000	 	 	Products-Completed Operations Aggregate Limit	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Personal & Advertising Injury Limit	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Each Occurrence Limit	 	 
	 	 	 	 	 	 	$	100,000	 	 	Damage to Premises Rented to You Limit	 	 
	 	 	 	 	 	 	$	10,000	 	 	Medical Expense Limit	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Foreign Business Auto Liability	 	 
	 	 	 	 	 	 	$	1,000,000	 	 	Coverage A: Liability Coverage Limit (any one accident)	 	 
	 	 	 	 	 	 	$	20,000	 	 	Coverage B: Medical Expense Coverage (each accident limit)	 	 
	 	 	 	 	 	 	$	25,000	 	 	Hired Autos, Limit Each Auto	 	 
	 	 	 	 	 	 	$	25,000	 	 	Hired Autos, Each Loss Limit	 	 

 

    	19

    	 

    

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy
    Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Deductible	 	 	 	 
	 	 	 	 	 	 	$	1,000	 	Each Auto	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Foreign Voluntary Compensation and Employers Liability	 	 
	 	 	 	 	 	 	$	500,000	 	Limit of Liability for Part One – Supplemental Repatriation
    Expense Per Person	 	 
	 	 	 	 	 	 	$	1,000,000	 	Limits of Liability for Part Two – Employers Liability
    Injury by Accident Each Accident	 	 
	 	 	 	 	 	 	$	1,000,000	 	Limits of Liability for Part Two – Employers Liability
    Injury by Disease Coverage Part
    Limit	 	 
	 	 	 	 	 	 	$	1,000,000	 	Limits of Liability for Part Two – Employers Liability
    Injury by Disease Each Employee	 	 
	 	 	 	 	 	 	Foreign Travel Accident and Sickness	 	 
	 	 	 	 	 	 	Coverage A-B Accidental Death and Dismemberment – 24
    Hour Protection	 	 
	 	 	 	 	 	 	$	250,000	 	Principal Sum Insured, each Insured person or five (5) times the
    insured person’s annual salary whichever is the lower	 	 
	 	 	 	 	 	 	$	2,500,000	 	Aggregate Limit any one accident for all insured persons	 	 
	 	 	 	 	 	 	Coverage C – Accidental and Sickness
    Medical Expense	 	 
	 	 	 	 	 	 	$	25,000	 	Covered Medical Expense, Each Insured Person Injury or Sickness	 	 
	 	 	 	 	 	 	$	500	 	Deductible per Insured Person, per each Injury or Sickness	 	 
	 	 	 	 	 	 	Coverage D – Emergency Medical Evacuation	 	 
	 	 	 	 	 	 	$	100,000	 	Covered Expenses, each Insured person each Serious Injury or
    Sickness	 	 
	 	 	 	 	 	 	Coverage E – Emergency Family Travel	 	 
	 	 	 	 	 	 	$	10,000	 	Covered Expenses, Each Insured Person	 	 
	 	 	 	 	 	 	$	25,000	 	Maximum for all Insured person(s0 any one Accident or Sickness	 	 
	 	 	 	 	 	 	Coverage F – Repatriation of Remains	 	 
	 	 	 	 	 	 	$	25,000	 	Covered Expense, Each Insured Person	 	 
	 	 	 	 	 	 	$	100,000	 	Maximum for all Insured Person(s) any one Accident or Sickness	 	 
	 	 	 	 	 	 	Corporate Kidnap and Ransom/Extortion	 	 
	 	 	 	 	 	 	$	5,000,000	 	Each Insured Event Limit	 	 
	 	 	 	 	 	 	$	10,000,000	 	Coverage Part Aggregate Limit	 	 
	 	 	 	 	 	 	Each Loss Component Limit:	 	 
	 	 	 	 	 	 	$	1,000,000	 	Ransom Monies	 	 
	 	 	 	 	 	 	$	1,000,000	 	In-Transit/Delivery	 	 
	 	 	 	 	 	 	$	1,000,000	 	Expenses	 	 
	 	 	 	 	 	 	$	1,000,000	 	Consultants Expenses	 	 
	 	 	 	 	 	 	$	1,000,000	 	Judgments, Settlements and Defense Costs	 	 
	 	 	 	 	 	 	$	100,000	 	Death or Dismemberment, any one person &	 	 
	 	 	 	 	 	 	$	1,000,000	 	Death or Dismemberment, Each Insured Event	 	 

 

    	20

    	 

    

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy
    Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	Liberty Mutual Fire
	YU2-Z91-457770-012	 	Commercial Property	 	10/05/12-10/01/13	 	$	88,255,000	 	Blanket Personal Property	 	Insurance Company
	 	 	 	 	 	 	$	6,265,552	 	Blanket Loss of Business Income	 	 
	 	 	 	 	 	 	$	500,000	 	Blanket Extra Expense	 	 
	 	 	 	 	 	 	$	250,000	 	Interruption of Services Coverage	 	 
	 	 	 	 	 	 	$	1,000,000	 	Earth movement covered only in New Madrid, per occurrence/annualaggregate(excluding
    Alaska, California, Hawaii, Nevada, Puget Sound& Puerto Rico)	 	 
	 	 	 	 	 	 	$	2,500,000	 	Earth Movement Coverage (any covered property situated in or at
    any other location(s) not specified above, per occurrence/annual aggregate	 	 
	 	 	 	 	 	 	$	5,000,000	 	Flood Coverage per occurrence/annual aggregate (Except $2,500,000
    for Group 1 and $250,000 for Group 2);	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Deductibles:	 	 	 	 
	 	 	 	 	 	 	$	2,500	 	Policy Deductible	 	 
	 	 	 	 	 	 	See policy details for specific deductibles	 	 
	MCN761831/01/20	 	Directors and	 	7/22/13-7/22/14	 	$	10,000,000	 	Aggregate Limit	 	Axis
	13	 	Officers Liability	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Retention	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	$	0 / $250,000 / $500,000	 	 
	 	 	 	 	 	 	 	 	 	 
	0306-8454	 	Excess Directors	 	7/22/13-7/22/14	 	$	10,000,000	 	Aggregate Limit	 	AWAC
	 	 	and Officers	 	 	 	 	 	 	 	 	 
	 	 	Liability	 	 	 	Attachment	 	 	 	 
	 	 	 	 	 	 	$	10,000,000	 	 	 	 

 

    	21

    	 

    

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy
    Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 
	105968619	 	Excess Directors	 	7/22/13-7/22/14	 	$	10,000,000
                                                                                                               Aggregate Limit	 	 	Travelers
	 	 	and Officers	 	 	 	 	 	 	 	 
	 	 	Liability	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Attachment	 	 	 
	 	 	 	 	 	 	$	20,000,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	CUG 36046	 	Excess Directors	 	7/22/13-7/22/14	 	$10,000,000 Aggregate Limit	 	 	Old Republic
	 	 	and Officers	 	 	 	 	 	 	 	 
	 	 	Liability	 	 	 	Attachment	 	 	 
	 	 		 	 	 	$	30,000,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	DO3HAAFHMH002	 	Excess Directors	 	7/22/13-7/22/14	 	$10,000,000 Aggregate Limit	 	 	Liberty
	 	 	and Officers	 	 	 	 	 	 	 	 
	 	 	Liability	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Attachment	 	 	 
	 	 	 	 	 	 	$	40,000,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	596348556	 	Excess Directors	 	7/22/13-7/22/14	 	$10,000,000 Aggregate Limit	 	 	CNA
	 	 	and Officers	 	 	 	 	 	 	 	 
	 	 	Liability	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Attachment	 	 	 
	 	 	 	 	 	 	$	50,000,000	 	 	 

 

    	22

    	 

    

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy No.	 	Coverage	 	Policy Term	 	 	Limits
                                                                                                              of Insurance	 	 	Carrier
	 	 	 	 	 	 	 	 	 	 	 
	DOX G25592815	 	Excess Side A DIC	 	7/22/13-7/22/14	 	$10,000,000 Aggregate Limit	 	 	Ace
	002	 	 	 	 	 	 	 	 	 	 
	 	 	Directors and

    Officers Liability	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Attachment	 	 	 
	 	 	 	 	 	 	$	60,000,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	596353577	 	Fiduciary Liability	 	7/31/13-10/1/15	 	$1,000,000 Aggregate Limit	 	 	CNA
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Retention	 	 	 
	 	 	 	 	 	 	$	5,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	TBD	 	Employment	 	7/31/13-10/1/14	 	$5,000,000 Aggregate Limit	 	 	Beazley
		 	Practices Liability	 		 		 	 	
	 	 	 	 	 	 	Retention	 	 	 
	 	 	 	 	 	 	$50,000 / $100,000	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	105356696	 	ERISA Compliance Bond	 	10/01/09-10/01/15	 	$15,000 Per Occurrence	 	 	Travelers
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Retention	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	$	0	 	 	 

 

    	23

    	 

    

 

FRANCESCA’S COLLECTIONS

2012 COVERAGE SUMMARY

 

	Policy
    No.	 	Coverage	 	Policy
    Term	 	Limits
    of Insurance	 	Carrier
	 	 	 	 	 	 	 	 	 	 	 	 
	W12E45120101	 	Cyber Liability	 	9/01/1-10/01/13	 	$	3,000,000	 	Policy Aggregate Limit	 	Beazley Syndicate
	 	 	 	 	 	 	$	3,000,000	 	Information Security, Privacy and Media Content Liability Limit	 	2623/623 at Lloyd’s
	 	 	 	 	 	 	$	3,000,000	 	Cyber Extortion Loss Limit	 	 
	 	 	 	 	 	 	$	3,000,000	 	Data Protection Loss and Business Interruption Loss Limit	 	 
	 	 	 	 	 	 	 	 	 	See policy details for BI sublimits	 	 
	 	 	 	 	 	 	$	1,000,000	 	Privacy Regulatory Defense & Penalties Sub-Limit	 	 
	 	 	 	 	 	 	$	100,000	 	Crisis Management & Public Relations Sub-Limit	 	 
	 	 	 	 	 	 	$	250,000	 	PCI Fines & Costs Sub-Limit	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Breach Response Services (Outside the Policy Limit)	 	 
	 	 	 	 	 	 	 	2,000,000	 	Notified Individuals in the Aggregate	 	 
	 	 	 	 	 	 	$	250,000	 	Legal and Forensic Expenses	 	 
	 	 	 	 	 	 	 	20,000	 	Fraud Resolution Cases in the Aggregate	 	 
	 	 	 	 	 	 	$	250,000	 	Foreign Notification	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Retentions:	 	 	 	 
	 	 	 	 	 	 	$	75,000	 	Information Security & Privacy Liability and Regulatory	 	 
	 	 	 	 	 	 	$	75,000	 	Media Content Liability	 	 
	 	 	 	 	 	 	$	75,000	 	PCI Fines and Costs	 	 
	 	 	 	 	 	 	$	75,000	 	Cyber Extortion	 	 
	 	 	 	 	 	 	$	75,000	 	Data Protection Loss and Income Loss	 	 
	 	 	 	 	 	 	$	50,000	 	Extra Expense	 	 
	 	 	 	 	 	 	 	12 hours	 	Business Interruption waiting period	 	 
	 	 	 	 	 	 	$	10,000	 	Crisis Management/Public Relations Expenses	 	 
	 	 	 	 	 	 	$	10,000	 	Legal, Forensics and Notification Expenses	 	 
	 	 	 	 	 	 	 	100 individuals	 	Call Center Services & Credit Monitoring Program	 	 

 

    	24

    	 

    

 

Schedule
8.1

 

Existing Indebtedness

  

None.

 

    	25

    	 

    

  

Schedule
8.2

 

Existing Liens

 

		1.	Liens granted pursuant to the Terms of Service, effective as of July 5, 2008, by and among Francesca’s Collections, Elavon
(f/k/a NOVA Information System, Inc.) and Wachovia Bank, National Association.

 

		2.	Liens granted pursuant to the Select Merchant Payment Instrument Processing Agreement, effective as of March 30, 2012, by and
among Francesca’s Collections, Inc., Paymentech, LLC and JPMorgan Chase Bank, N.A..

 

		3.	Equipment lien in favor of Toyota Motor Credit Corporation pursuant to UCC financing statement no. 12-0027750589 filed with
the Texas Secretary of State on August 31, 2012, naming Francesca’s LLC as debtor.

 

		4.	Equipment lien in favor of Toyota Motor Credit Corporation
pursuant to UCC financing statement no. 12-0027877488 filed with the Texas Secretary of State on September 4, 2012, naming Francesca’s
Collections. Inc. as debtor, as amended by UCC financing statement no. 12-00285717 filed with the Texas Secretary of State on
September 10, 2012, changing the debtor’s name to Francesca’s Collections, Inc.

 

    	26

    	 

    

 

Schedule
8.3

 

Existing Investments

 

None.

 

    	27

    	 

    

 

SCHEDULE 8.10

 

Existing Third-Party Restrictions

 

None.

  

    	28

    

 

EXHIBIT 1.1(1)

 

[FORM OF]

ASSIGNMENT AND ACCEPTANCE

 

This Assignment and Acceptance
(the “Assignment and Acceptance”) is dated as of the Effective Date set forth below and is entered into by and
between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Second Amended and Restated Credit Agreement
identified below (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment
and Acceptance as if set forth herein in full.

 

For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity
as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related
to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under
the respective facilities identified below (including participations in any Letters of Credit included in such facilities) and
(ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way
based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i)
above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively
as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly
provided in this Assignment and Acceptance, without representation or warranty by the Assignor.

 

	1.	Assignor:	 	 
	 	 	 
	2.	Assignee:	 	 
	 	 	[and is an Affiliate/Approved Fund of [identify Lender]1]
	 	 	 
	3.	Borrower:	Francesca’s Collections, Inc.
	 	 	 
	4.	Administrative Agent:	Royal Bank of Canada, as administrative agent under the Credit Agreement.

 

	

 

		1	Select as applicable.

 

    	1

    	 

    

 

	5.	Credit Agreement:	Second Amended and Restated Credit Agreement, dated as of August 30, 2013, among Francesca’s Collections, Inc., as borrower (the “Borrower”), Francesca’s LLC, as parent (the “Parent”), the other Guarantors from time to time party thereto, the Lenders from time to time party thereto, the L/C Issuer, Royal Bank of Canada, as Administrative Agent (in such capacity, the “Administrative Agent”), Royal Bank of Canada, as Collateral Agent for the Secured Parties, and the other parties party thereto
	 	 	 
	6.	Assigned Interest:	 

 

	Aggregate
 Amount of
 Commitment/
 Loans for all
 Lenders	 	 	Amount of
 Commitment/
 Loans Assigned	 	 	Percentage
 Assigned of
 Commitment/
 Loans2	 
	$		 	 	$		 	 	 		%

 

Effective Date: _____________ ___, 20___
[TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR].3

 

The terms set forth in this Assignment and
Acceptance are hereby agreed to:

 

	 	ASSIGNOR
	 	 	 
	 	 	[nAME OF ASSIGNOR]
	 	 	By:
	 	 	 	 
	 	 	 	Name:
	 	 	 	Title:

 

	 	ASSIGNEE
	 	 	 
	 	 	[nAME OF ASSIGNEE]
	 	 	By:
	 	 	 	 
	 	 	 	Name:
	 	 	 	Title:

 

	

 

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

		3	This date may not be fewer than 5 Business Days after the date of assignment unless the Administrative
Agent otherwise agrees.

 

    	2

    	 

    

 

 

[Consented to and]4 Accepted:

 

	Royal Bank of Canada, as Administrative Agent 	 
	 	 
	 	By:	 	 
	 	 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

[Consented to:]5

 

	[FRANCESCA’S COLLECTIONS, INC.]	 
	 	 
	 	By:	 	 
	 	 	 	 
	 	 	Name:	 
	 	 	Title:	 

  

[Consented to:]6

 

	[____________, as L/C Issuer] 	 
	 	 
	 	By:	 	 
	 	 	 	 
	 	 	Name:	 
	 	 	Title:	 

 

	

 

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

		5	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.

		6	Consent of the L/C Issuer is required for an assignment of Revolving Credit Commitments.

 

    	3

    	 

    

 

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ACCEPTANCE

 

1.          Representations
and Warranties Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the
transactions contemplated hereby, and (b) assumes no responsibility with respect to (i) any statements, warranties or representations
made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of Parent,
the Borrower, any of their Subsidiaries or Affiliates or any other person obligated in respect of any Loan Document or (iv) the
performance or observance by Parent, the Borrower, any of their Subsidiaries or Affiliates
or any other person of any of their respective obligations under any Loan Document.

 

2          Assignee.
The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute
and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement, (ii) subject to receipt of such consents as may be required under the Credit Agreement, it satisfies the
requirements specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest,
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and,
to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect
to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion
in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a
copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.1
thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Acceptance and to purchase the Assigned Interest on the basis of which it has made such
analysis and decision independently and without reliance on the Administrative Agent or any other Lender, (vi) if it is not already
a Lender under the Credit Agreement, attached to this Assignment and Acceptance is an Administrative Questionnaire in the form
supplied by the Administrative Agent, (vii) the Administrative Agent has received a processing and recordation fee of $3,500 as
of the Effective Date and (viii) attached to this Assignment and Acceptance is any documentation required to be delivered by it
pursuant to Section 2.17(f) of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i)
it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender and, based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of
the Loan Documents are required to be performed by it as a Lender.

 

3.          Payments.
From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including
payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

 

4.          General
Provisions

 

This Assignment and Acceptance shall be
binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and
Acceptance may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Acceptance by telecopy or other electronic delivery shall be effective as
delivery of a manually executed counterpart of this Assignment and Acceptance. This Assignment and Acceptance shall be governed
by, and construed in accordance with, the law of the State of New York.

 

    	1

    	 

    

 

EXHIBIT
1.1(2)

 

[FORM OF]

COMPLIANCE CERTIFICATE

 

Reference is made to
the Second Amended and Restated Credit Agreement, dated as of August 30, 2013 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Francesca’s Collections, Inc., as
borrower (the “Borrower”), Francesca’s LLC, the other Guarantors
from time to time party thereto, the Lenders from time to time party thereto, the L/C Issuer, Royal Bank of Canada, as Administrative
Agent (in such capacity, the “Administrative Agent”), Royal Bank of Canada, as Collateral Agent, and the other
parties party thereto. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit
Agreement. Pursuant to Section 6.1(c) of the Credit Agreement, the undersigned, in his/her capacity as a Responsible
Officer of the Borrower, certifies as follows:

 

[Attached
hereto as Exhibit A is the Consolidated balance sheet of the Borrower as of [______], 20[ ] and related Consolidated statements
of income, stockholders' equity and cash flow for the Fiscal Year then ended, each prepared in accordance with GAAP, audited and
accompanied by (a) a complete and correct copy of [______]1,
(b) an opinion2 of Group Members’ Accountants
and (c) a summary of such financial statements setting forth in comparative form the corresponding figures for the prior Fiscal
Year. These Financial Statements fairly present in all material respect the Consolidated financial position, results of operations
and cash flow of the Borrower for such Fiscal Year in accordance with GAAP.]3

 

[Attached
hereto as Exhibit A is the Consolidated unaudited balance sheet of the Borrower as of [_____], 20[ ] and the related Consolidated
statements of income and cash flow for such Fiscal Quarter and for the portion of the Fiscal Year then ended, setting forth in
comparative form the figures for the corresponding period in the prior Fiscal Year and the corresponding portion of the previous
Fiscal Year, all in reasonable detail. These Financial Statements fairly present in all material respects the Consolidated financial
condition, results of operations and cash flow of the Borrower as at the dates indicated and for the periods indicated in accordance
with GAAP, subject to normal year-end audit adjustments and the absence of footnote disclosure.]4

 

	

 

		1	To include each final management letter, audit report or similar letter or report from any independent
registered certified public accountant (including the Group Members’ Accountants) in connection with such Financial Statements
or any audit thereof and submitted to any Group Member (or such Group Member’s board of directors).

		2	Such opinion is to indicate that: (x) such Consolidated Financial Statements fairly present in
all material respects the Consolidated financial position, results of operations and cash flow of the Borrower as at the dates
indicated and for the periods indicated therein in accordance with GAAP without qualification with respect to going concern or
scope of audit or any like qualifications, and (y) in the course of the regular audit of the businesses of the Borrower and its
Subsidiaries, which audit was conducted in accordance with the standards of the United States’ Public Company Accounting
Oversight Board (or any successor entity), such Group Members’ Accountants have obtained no knowledge that a Default in respect
of the Financial Performance Covenants is continuing or, if in the opinion of the Group Members’ Accountants such a Default
is continuing, a statement as to the nature thereof (which statement may be limited to accounting matters and may disclaim responsibility
for legal interpretations).

		3	To be included if accompanying annual financial statements only (it being understood that the delivery
by the Borrower of annual reports on Form 10-K of Holdings and its consolidated subsidiaries shall satisfy the requirements of
Section 6.1(b) of the Credit Agreement to the extent such annual reports include the information specified therein.

		4	To be included if accompanying quarterly financial statements only (it being understood that the
delivery by the Borrower of quarterly reports on Form 10-Q of Holdings and its consolidated subsidiaries shall satisfy the requirements
of Section 6.1(a) of the Credit Agreement to the extent such quarterly reports include the information specified therein).

 

    	1

    	 

    

 

[Attached
hereto as Exhibit B is a summary narrative discussion and analysis of the financial condition and results of operations
of the Group Members for [the portion of] the Fiscal Year ended [          ]
and [the corresponding period in] the previous Fiscal Year.]5

 

No Default has occurred and is continuing
as of the date hereof. [If unable to provide the foregoing certification, fully describe the nature of any such Default and the
action that the Borrower proposes to take with respect thereto on Annex A attached hereto.]

 

[Attached hereto as Annex [B] is
a complete and correct report6 summarizing the insurance coverage in effect for the Borrower and each Loan Party and
its Subsidiaries.] 7

 

The following represent true and accurate
calculations, as of [              ], to be used to determine
compliance with the covenants set forth in Article 5 of the Credit Agreement:

 

	Maximum Consolidated Total Lease Adjusted Leverage Ratio:	 	 
	 	 	 
	Sum of Consolidated Total Debt plus the product of (a) Consolidated Rent Expense multiplied by (b) 6.00=	 	[             ]
	Consolidated EBITDAR=	 	[             ]
	Actual Ratio=	 	[             ] to 1.0
	Required Ratio=	 	No more than 4.25 to 1.00
	Borrower in compliance with Financial Performance Covenant:	 	[Yes / No]

 

Supporting detail showing the calculation
of the Consolidated Total Lease Adjusted Leverage Ratio is attached hereto as Schedule 1.8

 

 

		4	To be included if accompanying quarterly financial statements only (it being understood that the
delivery by the Borrower of quarterly reports on Form 10-Q of Holdings and its consolidated subsidiaries shall satisfy the requirements
of Section 6.1(a) of the Credit Agreement to the extent such quarterly reports include the information specified therein).

		5	To be included unless delivery by the Borrower of quarterly reports on Form 10-Q or annual reports
on Form 10-K, as applicable, of Holdings and its consolidated subsidiaries satisfy the requirements of Section 6.1(h) of the Credit
Agreement.

		6	Such report to specify type, amount and carrier of insurance and to contain such additional information
as the Administrative Agent may reasonably specify.

		7	To be included if accompanying annual financial statements only.

		8	Which calculations shall be in reasonable detail.

 

    	2

    	 

    

 

Attached hereto as Schedule 2 are
calculations setting forth the ratio of (x) the amount of Consolidated Total Assets at the end of the applicable Fiscal Quarter
to (y) the amount of Consolidated Total Assets as of October 30, 2010.

 

Attached hereto as Schedule 3 is
a summary of the outstanding balances of all intercompany Indebtedness as of the last day of the last Fiscal Quarter included in
the Financial Statements attached hereto, which summary is complete and correct.

 

[[The Corporate Chart previously delivered
on [              ], 20[ ], pursuant to Section 6.1(d)
of the Credit Agreement, is correct and complete as of the date hereof.] [Attached hereto as Exhibit C is a Corporate Chart,
which Corporate Chart is correct and complete as of the date hereof.]]9

 

[The Loan Parties have delivered to the
Administrative Agent (i) all documents (including updated schedules as to the acquisition of Intellectual Property or real property)
they are required to deliver pursuant to any Loan Document on or prior to the date hereof and (ii) complete and correct copies
of all documents modifying any term of any Constituent Document of any Group Member or Joint Venture thereof on or prior to the
date hereof. [Any such documents not previously delivered prior to the date hereof are attached hereto as Exhibit [D].]
10

 

	

 

		9	To be included only in annual Compliance Certificate.

		10	To be included only in annual Compliance Certificate.

 

    	3

    	 

    

 

IN WITNESS WHEREOF, the undersigned, in
his/her capacity as a Responsible Officer of the Borrower, has executed this certificate for and on behalf of the Borrower and
has caused this certificate to be delivered this ____ day of _____________.

 

	 	 	FRANCESCA’S COLLECTIONS, INC.
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

 

    	4

    	 

    

 

SCHEDULE 1

 

Calculation of Covenant Compliance

 

	Consolidated Total Lease Adjusted Leverage Ratio: (i) Sum of Consolidated Total Debt plus the product of (a) Consolidated Rent Expense multiplied by (b) 6.00 to (ii) Consolidated EBITDAR
	 	 	 
	(1)       Consolidated Total Debt of the Borrower as of [          ], 20[ ]:	 	 
	 	 	 
	(a)      the sum of all Indebtedness of a type described in clauses (i) through (vi) below of the Borrower and its Subsidiaries on a Consolidated basis:	 	 
	 	 	 
	(i)       all indebtedness for borrowed money	 	 
	 	 	 
	(ii)      all obligations evidenced by notes, bonds, debentures or similar instruments,	 	 
	 	 	 
	(iii)     the principal component of all obligations with respect to letters of credit (other than to the extent undrawn), bank guarantees or bankers’ acceptances,	 	 
	 	 	 
	(iv)     all obligations to pay the deferred purchase price of property or services 1,	 	 
	 	 	 
	(v)      all Capitalized Lease Obligations, and	 	 
	 	 	 
	(vi)     all obligations, whether or not contingent, to purchase, redeem, retire, defease or otherwise acquire for value, or pay any dividends or other amounts with respect to, or convert into or exchange for Indebtedness, any of the Stock or Stock Equivalents of Borrower and its Subsidiaries (or any Stock or Stock Equivalent of a direct or indirect parent entity thereof) prior to the date that is 180 days after the Scheduled Termination Date, valued at, in the case of redeemable preferred Stock, the greater of the voluntary liquidation preference and the involuntary liquidation preference of such Stock plus accrued and unpaid dividends,	 	 
	 	 	 
	(b)       plus, all Guaranty Obligations of the Borrower and its Subsidiaries on a Consolidated basis with respect to any Indebtedness of any other Person of a type described in clause (a) above,	 	 

 

	

 

		1	Other than current trade liabilities and current intercompany liabilities (but not any refinancings,
extensions, renewals or replacements thereof) incurred in the ordinary course of business and maturing within 180 days after the
incurrence thereof.

 

    	1

    	 

    

 

	(c)       minus, unrestricted cash and Cash Equivalents of the Borrower and its Subsidiaries (reduced, in the case of any Subsidiary that is not a Wholly Owned Subsidiary, to reflect the extent of the relative aggregate direct and indirect beneficial ownership interest of the Borrower therein) on such date in an amount not to exceed $7,500,000 less the outstanding principal amount of Loans on such date.2	 	 
	 	 	 
	Consolidated Total Debt	 	 
	 	 	 
	(2) Consolidated Rent Expense of the Borrower for the period of four consecutive Fiscal Quarters ending [         ], 20[ ]:	 	 
	 	 	 
	(a)       Rental expense attributable to leases of real property that is deducted in determining Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP.	 	 
	 	 	 
	Consolidated Rent Expense	 	 
	 	 	 
	(3) Consolidated EBITDAR of the Borrower for the period of four consecutive Fiscal Quarters ending [          ], 20[ ]3:	 	 
	 	 	 
	(a)      Consolidated EBITDA:	 	 
	 	 	 
	(i)    Consolidated Net Income of the Borrower for such period determined in accordance with GAAP: the aggregate of the Net Income of the Borrower and its Subsidiaries attributable to the Borrower (after giving effect to non-controlling interests) for such period, on a Consolidated basis	 	 
	 	 	 
	excluding, without duplication:	 	 
	 	 	 
	A.   any net after-tax
extraordinary, nonrecurring, or unusual gains or losses or income or expenses (less all fees and expenses relating thereto), including
any severance expenses, and fees, expenses or charges related to the IPO, any other offering of the Stock of Parent,
any Investment, acquisition or Indebtedness permitted to be incurred under the Credit Agreement (in each case, whether or not
successful), including any such fees, expenses, charges or change in control payments related to any acquisition consummated after
the Closing Date,	 	 

 

	

 

		2	Such unrestricted cash and Cash Equivalents that reduce Consolidated Total Debt pursuant to this
clause (c) shall be maintained in an account subject to a Control Agreement (as defined in the Guaranty and Security Agreement).

		3	Determined on a Pro Forma Basis.

 

    	2

    	 

    

 

	B.   any net after-tax income or loss from discontinued operations and any net after-tax gain or loss on disposal of discontinued operations,	 	 
	 	 	 
	C.   any net after-tax gain or loss (less all fees and expenses or charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the board of directors (or equivalent) of the Borrower), other than write downs of current assets in the ordinary course of business,	 	 
	 	 	 
	D.   any net after-tax income or loss (less all fees and expenses or charges relating thereto) attributable to the early extinguishment of Indebtedness,	 	 
	 	 	 
	E.   the cumulative effect of a change in accounting principles during such period,	 	 
	 	 	 
	F.   any increase in amortization or depreciation or any one-time non-cash charges resulting from purchase accounting in connection with any acquisition that is consummated after the Closing Date,	 	 
	 	 	 
	G.   any non-cash impairment charges resulting from the application of Statement of Financial Accounting Standards No. 142 and 144, and the amortization of intangibles arising pursuant to No. 141,	 	 
	 	 	 
	H.   the effect of mark-to-market accounting for derivatives contracts under Statement of Financial Accounting Standards No. 157,	 	 
	 	 	 
	I.    any non-cash compensation expenses realized from grants of stock appreciation or similar rights, stock options or other rights to officers, directors and employees of the Borrower or any of its Subsidiaries,	 	 
	 	 	 
	J.    any pre-opening expenses,	 	 
	 	 	 
	K.   to the extent covered by insurance and actually reimbursed, or, so long as such person has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (a) not denied by the applicable carrier in writing within 180 days and (b) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption shall be excluded; provided that any proceeds of such reimbursement when received shall be excluded from the calculation of Consolidated Net Income to the extent the expense reimbursed was previously excluded pursuant to this clause K, and	 	 

 

 

    	3

    	 

    

 

	L.   the net income for such period of any entity (other than a Subsidiary of the Borrower) in which any Person other than the Borrower and its Subsidiaries has an ownership interest, except to the extent that cash in an amount equal to any such income has actually been received by the Borrower or its Subsidiaries during such period,	 	 
	 	 	 
	Consolidated Net Income	 	 
	 	 	 
	(ii)   plus, to the extent applicable to the Borrower in such period, the sum of the following (without duplication and only to the extent the amounts described in clauses (A) through (F) below decreased such Consolidated Net Income for such period):	 	 
	 	 	 
	A.   provision for Taxes based on income, profits or capital of the Borrower and its Subsidiaries for such period, including, without limitation, state, franchise and similar taxes,	 	 
	 	 	 
	B.   Consolidated Interest Expense of the Borrower for such period,	 	 
	 	 	 
	C.   depreciation and amortization expense of the Borrower and its Subsidiaries for such period,	 	 
	 	 	 
	D.   business optimization expenses and other restructuring charges of the Borrower and its Subsidiaries for such period4,	 	 
	 	 	 
	E.   any other non-cash charges of the Borrower and its Subsidiaries for such period (but excluding (a) any such charges which represent the accrual of, or a cash reserve for, anticipated cash charges in any future period and (b) any such non-cash charge to the extent that it represents the amortization of a prepaid cash charge that was paid in a prior period unless such non-cash charge represents an amount that was not recognized in any prior period),	 	 
	 	 	 
	F.   management, consulting, monitoring, transaction, and advisory fees and related expenses for the Borrower and its Subsidiaries for such period paid to the Permitted Investors (or any accruals related to such fees and related expenses), 5	 	 
	 	 	 

 

	

 

		4	(A) With respect to each business optimization expense or other such restructuring charge, the
Borrower shall have delivered to the Administrative Agent a certificate of a Responsible Officer of the Borrower specifying and
quantifying such expense or charge and stating that such expense or charge is a business optimization expense or other restructuring
charge, as the case may be, and (B) the aggregate amount of cash business optimization expenses and other cash restructuring charges
for purposes of this clause (D) shall not exceed 5% of Consolidated EBITDA for such period (as calculated prior to giving effect
to the addition of amounts specified in this clause (D)).

		5	The aggregate amount of such fees and related expenses for purposes of this clause (F) shall not
exceed in any period of four consecutive Fiscal Quarters $500,000 as of the date of determination.

 

 

    	4

    	 

    

 

	G.   any fees, expenses or charges related to the documentation and closing of the Second Amended and Restated Credit Agreement,	 	 
	 	 	 
	H.   any fees, expenses or charges related to Specified Stock Repurchases, 	 	 
	 	 	 
	(iii)  minus, the sum (without duplication and only to the extent the amounts described in this clause (iii) increased such Consolidated Net Income for such period) of non-cash items increasing Consolidated Net Income of the Borrower for such period (but excluding any such items (a) in respect of which cash was received in a prior period or will be received in a future period, or (b) which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period)	 	 
	 	 	 
	Consolidated EBITDA	 	 
	 	 	 
	Consolidated EBITDAR (sum of Consolidated EBITDA (Item A(3)(a)) plus (without duplication and only to the extent that such amounts decreased Consolidated Net Income for the respective period for which Consolidated EBITDA is being determined) Consolidated Rent Expense (Item A(2))	 	 
	 	 	 
	Consolidated Total Debt plus the product of Consolidated Rent Expense multiplied by 6.00 to Consolidated EBITDAR	 	[   ]:1.00
	 	 	 
	Covenant Requirement	 	No more than 4.25:1.00

  

    	5

    	 

    

 

SCHEDULE 2

 

Change in Consolidated Total Assets

 

Ratio of (x) the amount of Consolidated
Total Assets at the end of applicable Fiscal Quarter to (y) the amount of Consolidated Total Assets as of October 30, 2010

 

	(1)	 	Consolidated Total Assets1 at the end of Fiscal Quarter ending [     ], 20[  ]	 	 	 	 
	 	 	 	 	 	 	 
	(2)	 	Consolidated Total Assets as of October 30, 2010	 	$	52,965,111	 
	 	 	 	 	 	 	 
	 	 	Ratio of (1) to (2)	 	 	 	 

 

 

1 Consolidated
Total Assets means, as of any date, the total assets of the Borrower and the Consolidated Subsidiaries, determined in accordance
with GAAP, set forth on the Consolidated balance sheet of the Borrower as of such date. In no event shall Consolidated Total Assets
include the amount of goodwill that would be recorded from the acquisition of the Borrower by the Fund and the Fund Affiliates
to the extent purchase accounting treatment was given or is given to such acquisition.

 

    	1

    	 

    

 

SCHEDULE 3

 

Summary of Intercompany Indebtedness

 

[To set forth a summary of the outstanding
balances of all intercompany Indebtedness.]

 

    	2

    	 

    

 

EXHIBIT A

 

Financial Statements

 

Attached.

 

    	3

    	 

    

 

EXHIBIT B

 

Management’s Summary Narrative
Discussion and Analysis

 

Attached.

 

    	4

    	 

    

 

EXHIBIT C

 

Corporate Chart

 

Attached.

 

    	5

    	 

    

 

EXHIBIT D

 

Documents

 

Attached.

 

    	6

    	 

    

 

EXHIBIT
1.1(3)

 

[FORM OF]

GUARANTY AND SECURITY AGREEMENT

 

 

 

GUARANTY AND SECURITY AGREEMENT

 

Dated as of November 17, 2010

 

by and among

 

Francesca’s
Collections, inc.

and

Each Other Grantor

From Time to Time Party Hereto

 

and

 

royal
bank of canada, 

as Collateral Agent

 

and

 

Royal
Bank of Canada,

as Administrative Agent

 

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article I	Defined Terms	1
	 	 	 
	Section 1.1	Definitions	1
	Section 1.2	Certain Other Terms	4
	 	 	 
	Article II	GUARANTY	4
	 	 	 
	Section 2.1	Guaranty	4
	Section 2.2	Limitation of Guaranty	4
	Section 2.3	Contribution	5
	Section 2.4	Authorization; Other Agreements	5
	Section 2.5	Guaranty Absolute and Unconditional	5
	Section 2.6	Waivers	6
	Section 2.7	Reliance	6
	 	 	 
	Article III	Grant of Security Interest	7
	 	 	 
	Section 3.1	Collateral	7
	Section 3.2	Grant of Security Interest in Collateral	7
	Section 3.3	Continuing Liability Under Collateral	7
	 	 	 
	Article IV	Representations and Warranties	8
	 	 	 
	Section 4.1	Title; No Other Liens	8
	Section 4.2	Perfection and Priority	8
	Section 4.3	Jurisdiction of Organization; Chief Executive Office	8
	Section 4.4	Locations of Inventory, Equipment and Books and Records	9
	Section 4.5	Pledged Collateral	9
	Section 4.6	Instruments and Tangible Chattel Paper Formerly Accounts	9
	Section 4.7	Intellectual Property	9
	Section 4.8	Commercial Tort Claims	10
	Section 4.9	Specific Collateral	10
	Section 4.10	Enforcement	10
	Section 4.11	Representations and Warranties of the Credit Agreement	10
	 	 	 
	Article V	Covenants	10
	 	 	 
	Section 5.1	Maintenance of Perfected Security Interest; Further Documentation and Consents	10
	Section 5.2	Reserved	11
	Section 5.3	Pledged Collateral	11
	Section 5.4	Accounts	12
	Section 5.5	Delivery of Instruments and Tangible Chattel Paper, Letter-of-Credit Rights and Electronic Chattel Paper	12
	Section 5.6	Intellectual Property	13
	Section 5.7	Notices	14
	Section 5.8	Notice of Commercial Tort Claims	14
	Section 5.9	Compliance with Credit Agreement	14
	Section 5.10	Controlled Securities Account	14
	Section 5.11	Cash Management Systems	14
	 	 	 	 

 

    	i

    	 

    

 

	Article VI	Remedial Provisions	14
	 	 	 
	Section 6.1	Code and Other Remedies	14
	Section 6.2	Accounts and Payments in Respect of General Intangibles	17
	Section 6.3	Pledged Collateral	18
	Section 6.4	Proceeds to be Turned over to and Held by Collateral Agent	19
	Section 6.5	Registration Rights	19
	Section 6.6	Deficiency	19
	 	 	 
	Article VII	The Collateral Agent	20
	 	 	 
	Section 7.1	Collateral Agent’s Appointment as Attorney-in-Fact	20
	Section 7.2	Authorization to File Financing Statements	21
	Section 7.3	Authority of Collateral Agent	21
	Section 7.4	Duty; Obligations and Liabilities	22
	Section 7.5	Replacement of Collateral Agent	24
	 	 	 
	Article VIII	Miscellaneous	24
	 	 	 
	Section 8.1	Reinstatement	24
	Section 8.2	Release of Collateral	25
	Section 8.3	Independent Obligations	25
	Section 8.4	No Waiver by Course of Conduct	25
	Section 8.5	Amendments in Writing	25
	Section 8.6	Additional Grantors; Additional Pledged Collateral	25
	Section 8.7	Notices	26
	Section 8.8	Successors and Assigns	26
	Section 8.9	Counterparts	26
	Section 8.10	Severability	26
	Section 8.11	Governing Law	26
	Section 8.12	Waiver of Jury Trial	26
	Section 8.13	Indemnities	27
	 	 	 	 

ANNEXES AND SCHEDULES

	 	Annex 1	Form of Pledge Amendment
	 	Annex 2	Form of Joinder Agreement
	 	Annex 3	Form of Intellectual Property Security Agreement
	 	 	 
	 	Schedule 1	Commercial Tort Claims
	 	Schedule 2	UCC Filings
	 	Schedule 3	Jurisdiction of Organization; Chief Executive Office
	 	Schedule 4	Locations of Inventory and Equipment
	 	Schedule 5	Pledged Collateral
	 	Schedule 6	Intellectual Property

 

    	 

    	 

    

 

Guaranty
and Security Agreement, dated as of November 17, 2010, by and among FRANCESCA’S COLLECTIONS, INC.
(the “Borrower”), each of the other entities listed on the signature pages hereof or that becomes a party
hereto pursuant to Section 8.6 (together with the Borrower, the “Grantors”), Royal Bank of Canada,
as administrative agent (in such capacity, together with its successors and permitted assigns, the “Administrative Agent”),
and Royal Bank of Canada, as collateral agent (in such capacity, together with its successors and permitted assigns, the “Collateral
Agent”) for the Lenders, the L/C Issuer and each other Secured Party (each as defined in the Credit Agreement referred
to below).

 

Witnesseth:

 

Whereas,
pursuant to the Credit Agreement dated as of the date hereof (as the same may be amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”) among the Borrower, Francesca’s LLC (“Parent”),
the other Guarantors from time to time party thereto, the Lenders from time to time party thereto, the Administrative Agent, the
Collateral Agent and the other parties thereto, the Lenders and the L/C Issuer have severally agreed to make extensions of credit
to the Borrower upon the terms and subject to the conditions set forth therein;

 

Whereas,
each Grantor (other than the Borrower) has agreed to guaranty the Obligations (as defined in the Credit Agreement) of the Borrower;

 

WHEREAS, each Grantor
will derive substantial direct and indirect benefits from the making of the extensions of credit under the Credit Agreement; and

 

Whereas,
it is a condition precedent to the obligation of the Lenders and the L/C Issuer to make their respective extensions of credit to
the Borrower under the Credit Agreement that the Grantors shall have executed and delivered this Agreement to the Administrative
Agent and the Collateral Agent.

 

Now,
therefore, in consideration of the premises and to induce the Lenders, the L/C Issuer, the Administrative Agent and the
Collateral Agent to enter into the Credit Agreement and to induce the Lenders and the L/C Issuer to make their respective extensions
of credit to the Borrower thereunder, each Grantor hereby agrees with the Administrative Agent and the Collateral Agent as follows:

 

Article I

Defined Terms

 

Section 1.1           Definitions.
(a) Capital terms used herein without definition are used as defined in the Credit Agreement.

 

(b)          Terms
used herein without definition that are defined in the UCC have the meanings given to them in the UCC (such meanings to be equally
applicable to both the singular and plural forms of the terms defined and, if defined in more than one Article of the UCC, shall
have the meaning specified in Article 9 thereof).

 

(c)          The
following terms shall have the following meanings:

 

“Agreement”
means this Guaranty and Security Agreement, as the same may be amended, amended and restated, supplemented or otherwise modified
from time to time.

 

    	1

    	 

    

 

“Applicable
IP Office” means the United States Patent and Trademark Office, the United States Copyright Office or any similar office
or agency within or outside the United States.

 

“Collateral”
has the meaning specified in Section 3.1.

 

“Control Agreement”
means, with respect to any deposit account, securities account, commodity account, securities entitlement or commodity contract,
an agreement among the Collateral Agent, the financial institution or other Person at which such account is maintained or with
which such entitlement or contract is carried, and the Loan Party maintaining such account effective to grant “control”
(as defined under the applicable UCC) over such account to the Collateral Agent in form and substance reasonably satisfactory to
the Collateral Agent.

 

“Excluded Equity”
means (a) Voting Stock in excess of 66% of the outstanding Voting Stock of any Foreign Subsidiary and (b) any Stock to the extent
that, and for so long as, the requirements of Section 7.10 of the Credit Agreement do not apply thereto by reason of
clause (ii) of the final paragraph of such Section.

 

“Excluded Property”
means, collectively: (i) Vehicles; (ii) Excluded Equity; (iii) any permit or license or any Contractual Obligation entered
into by any Grantor (A) that prohibits, terminates or permits termination by any Person other than the Borrower and its Affiliates
of such permit, license or Contractual Obligation upon, or requires the consent of any Person other than the Borrower and its Affiliates
as a condition to, the creation by such Grantor of a Lien on any right, title or interest in such permit, license or Contractual
Obligation or any Stock or Stock Equivalent related thereto or (B) to the extent that any Requirement of Law applicable thereto
prohibits the creation of a Lien thereon, but only, with respect to the prohibition in (A) and (B), to the extent, and for as long
as, such prohibition, termination provision or requirement for consent is not terminated or rendered unenforceable or otherwise
deemed ineffective by the UCC or any other Requirement of Law or required consent is not obtained (and immediately upon the lapse,
termination, unenforceability or ineffectiveness of any such prohibition, termination provision or requirement for consent or grant
of such required consent, the Collateral shall include, and the Grantors shall be deemed to have automatically granted a security
interest in, all such permits, licenses, Contractual Obligations or Stock or Stock Equivalents no longer subject to such prohibition
or termination provision or required consent); (iv) fixed or capital assets owned by any Grantor that are subject to a purchase
money Lien or a Capital Lease permitted under the Credit Agreement if the Contractual Obligation pursuant to which such Lien is
granted (or in the document providing for such Capital Lease) prohibits or requires the consent of any Person other than the Borrower
and its Affiliates (which consent has not been obtained) as a condition to the creation of any other Lien on such equipment; (v)
any “intent to use” Trademark applications for which a statement of use has not been filed with and accepted by the
Applicable IP Office (but only until such statement is filed and accepted); and (vi) any assets to the extent that, and for so
long as, the requirements of Section 7.10 of the Credit Agreement do not apply thereto by reason of clause (iii) of
the final paragraph of such Section; provided, that “Excluded Property” shall not include any proceeds,
products, substitutions or replacements of Excluded Property (unless such proceeds, products, substitutions or replacements would
otherwise constitute Excluded Property).

 

“Guaranteed
Obligations” has the meaning set forth in Section 2.1.

 

“Guarantor”
means each Grantor other than the Borrower.

 

“Guaranty”
means the guaranty of the Guaranteed Obligations made by the Guarantors as set forth in this Agreement.

 

    	2

    	 

    

 

“Material Intellectual
Property” means Intellectual Property that is owned by or licensed to a Grantor and material to the conduct of any Grantor’s
business.

 

“Pledged Certificated
Stock” means all certificated securities and any other Stock or Stock Equivalent of any Person evidenced by a certificate,
instrument or similar document (as defined in the UCC), in each case owned by any Grantor, and any distribution of property made
on, in respect of, or in exchange for the foregoing from time to time, including all Stock and Stock Equivalents listed on Schedule 5.
Pledged Certificated Stock excludes any Excluded Property and any Cash Equivalents that are not held in securities accounts that
are subject to Control Agreements to the extent permitted by Section 5.10 hereof.

 

“Pledged Collateral”
means, collectively, the Pledged Stock and the Pledged Debt Instruments.

 

“Pledged Debt
Instruments” means all right, title and interest of any Grantor in instruments evidencing any Indebtedness owed to such
Grantor or other obligations owed to such Grantor, and any distribution of property made on, in respect of or in exchange for the
foregoing from time to time, including all such instruments described on Schedule 5, issued by the obligors named therein.
Pledged Debt Instruments excludes any Cash Equivalents that are not held in securities accounts that are subject to Control Agreements
to the extent permitted by Section 5.10 hereof.

 

“Pledged Investment
Property” means any investment property of any Grantor, and any distribution of property made on, in respect of or in
exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments. Pledged Investment Property
excludes any Cash Equivalents that are not held in securities accounts that are subject to Control Agreements to the extent permitted
by Section 5.10 hereof.

 

“Pledged Stock”
means all Pledged Certificated Stock and all Pledged Uncertificated Stock.

 

“Pledged Uncertificated
Stock” means any Stock or Stock Equivalent of any Person that is not Pledged Certificated Stock, including all right,
title and interest of any Grantor as a limited or general partner in any partnership not constituting Pledged Certificated Stock
or as a member of any limited liability company, all right, title and interest of any Grantor in, to and under any Constituent
Document of any partnership or limited liability company to which it is a party, and any distribution of property made on, in respect
of or in exchange for the foregoing from time to time, including in each case those interests set forth on Schedule 5,
to the extent such interests are not certificated. Pledged Uncertificated Stock excludes any Excluded Property and any Cash Equivalents
that are not held in securities accounts that are subject to Control Agreements to the extent permitted by Section 5.10
hereof.

 

“Secured Obligations”
has the meaning specified in Section 3.2.

 

“Security Cash
Collateral Account” means a Cash Collateral Account that is not a L/C Cash Collateral Account.

 

“Software”
means (a) all computer programs, including source code and object code versions, (b) all data, databases and compilations of data,
whether machine readable or otherwise, and (c) all documentation, training materials and configurations related to any of the foregoing.

 

“Subsidiary
Guarantor” means any Guarantor that is a Subsidiary of the Borrower.

 

    	3

    	 

    

 

“UCC”
means the Uniform Commercial Code as from time to time in effect in the State of New York; provided, that, in the event
that, by reason of mandatory provisions of any applicable Requirement of Law, any of the attachment, perfection or priority of
the Collateral Agent’s or any other Secured Party’s security interest in any Collateral is governed by the Uniform
Commercial Code of a jurisdiction other than the State of New York, “UCC” shall mean the Uniform Commercial
Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or priority
and for purposes of the definitions related to or otherwise used in such provisions.

 

“Vehicles”
means all vehicles covered by a certificate of title law of any state.

 

Section 1.2           Certain
Other Terms. (a) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms
of such terms. The terms “herein”, “hereof” and similar terms refer to this Agreement as
a whole and not to any particular Article, Section or clause in this Agreement. References herein to an Annex, Schedule, Article,
Section or clause refer to the appropriate Annex or Schedule to, or Article, Section or clause in this Agreement. Where the context
requires, provisions relating to any Collateral when used in relation to a Grantor shall refer to such Grantor’s Collateral
or any relevant part thereof.

 

(b)          Section
1.5 (Interpretation) of the Credit Agreement is applicable to this Agreement as and to the extent set forth therein.

 

Article II

GUARANTY

 

Section 2.1           Guaranty.
To induce the Lenders to make the Loans and the L/C Issuer to Issue Letters of Credit, each Guarantor hereby, jointly and
severally, absolutely, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, to the Administrative
Agent, the Collateral Agent, the Lenders, the L/C Issuer and the other Secured Parties the full and punctual payment when due,
whether at stated maturity or earlier, by reason of acceleration, mandatory prepayment or otherwise in accordance with any Loan
Document, of all the Obligations of the Borrower whether existing on the date hereof or hereinafter incurred or created (the “Guaranteed
Obligations”). This Guaranty by each Guarantor hereunder constitutes a guaranty of payment and not of collection.

 

Section 2.2           Limitation
of Guaranty. Any term or provision of this Guaranty or any other Loan Document to the contrary notwithstanding, the maximum
aggregate amount for which any Subsidiary Guarantor shall be liable hereunder shall not exceed the maximum amount for which such
Subsidiary Guarantor can be liable without rendering this Guaranty or any other Loan Document, as it relates to such Subsidiary
Guarantor, subject to avoidance under applicable Requirements of Law relating to fraudulent conveyance or fraudulent transfer
(including the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act and Section 548 of title 11 of the
United States Code or any applicable provisions of comparable Requirements of Law) (collectively, “Fraudulent Transfer
Laws”). Any analysis of the provisions of this Guaranty
for purposes of Fraudulent Transfer Laws shall take into account the right of contribution established in Section 2.3
and, for purposes of such analysis, give effect to any discharge of intercompany debt as a result of any payment made under
the Guaranty.

 

    	4

    	 

    

 

Section 2.3           Contribution.
To the extent that any Subsidiary Guarantor shall be required hereunder to pay any portion of any Guaranteed Obligation exceeding
the greater of (a) the amount of the economic benefit actually received by such Subsidiary Guarantor and its Subsidiaries
from the Loans and other Obligations, and (b) the amount such Subsidiary Guarantor would otherwise have paid if such Subsidiary
Guarantor had paid the aggregate amount of the Guaranteed Obligations (excluding the amount thereof repaid by the Borrower and
Parent) in the same proportion as such Subsidiary Guarantor’s net worth on the date enforcement is sought hereunder bears
to the aggregate net worth of all the Subsidiary Guarantors on such date, then such Guarantor shall be reimbursed by such other
Subsidiary Guarantors for the amount of such excess, pro rata, based on the respective net worth of such other Subsidiary Guarantors
on such date.

 

Section 2.4           Authorization;
Other Agreements. The Secured Parties are hereby authorized, without notice to or demand upon any Guarantor and without discharging
or otherwise affecting the obligations of any Guarantor hereunder and without incurring any liability hereunder, from time to
time, to do each of the following:

 

(a)          (i)
modify, amend, supplement or otherwise change, (ii) accelerate or otherwise change the time of payment or (iii) waive or otherwise
consent to noncompliance with, any Guaranteed Obligation or any Loan Document;

 

(b)          apply
to the Guaranteed Obligations any sums by whomever paid or however realized to any Guaranteed Obligation in such order as provided
in the Loan Documents;

 

(c)          refund
at any time any payment received by any Secured Party in respect of any Guaranteed Obligation;

 

(d)          (i)
Sell, exchange, enforce, waive, substitute, liquidate, terminate, release, abandon, fail to perfect, subordinate, accept, substitute,
surrender, exchange, affect, impair or otherwise alter or release any Collateral for any Guaranteed Obligation or any other guaranty
therefor in any manner, (ii) receive, take and hold additional Collateral to secure any Guaranteed Obligation, (iii) add, release
or substitute any one or more other Guarantors, makers or endorsers of any Guaranteed Obligation or any part thereof and (iv) otherwise
deal in any manner with the Borrower and any other Guarantor, maker or endorser of any Guaranteed Obligation or any part thereof;
and

 

(e)          settle,
release, compromise, collect or otherwise liquidate the Guaranteed Obligations.

 

Section 2.5           Guaranty
Absolute and Unconditional. Each Guarantor hereby waives and agrees not to assert any defense, whether arising in connection
with or in respect of any of the following or otherwise, and hereby agrees that its obligations under this Guaranty are irrevocable,
absolute and unconditional and shall not be discharged as a result of or otherwise affected by any of the following (which may
not be pleaded and evidence of which may not be introduced in any proceeding with respect to this Guaranty, in each case except
as otherwise agreed in writing by the Collateral Agent):

 

(a)          the
invalidity or unenforceability of any obligation of the Borrower or any other Guarantor under any Loan Document or any other agreement
or instrument relating thereto (including any amendment, consent or waiver thereto), or any security for, or other guaranty of,
any Guaranteed Obligation or any part thereof, or the lack of perfection or continuing perfection or failure of priority of any
security for the Guaranteed Obligations or any part thereof;

 

(b)          the
absence of (i) any attempt to collect any Guaranteed Obligation or any part thereof from the Borrower or any other Guarantor or
other action to enforce the same or (ii) any action to enforce any Loan Document or any Lien thereunder;

 

(c)          the
failure by any Person to take any steps to perfect and maintain any Lien on, or to preserve any rights with respect to, any Collateral;

 

    	5

    	 

    

 

(d)          any
workout, insolvency, bankruptcy proceeding, reorganization, arrangement, liquidation or dissolution by or against the Borrower,
any other Guarantor or any of the Borrower’s other Subsidiaries or any procedure, agreement, order, stipulation, election,
action or omission thereunder, including any discharge or disallowance of, or bar or stay against collecting, any Guaranteed Obligation
(or any interest thereon) in or as a result of any such proceeding;

 

(e)          any
foreclosure, whether or not through judicial sale, and any other Sale of any Collateral or any election following the occurrence
of an Event of Default by any Secured Party to proceed separately against any Collateral in accordance with such Secured Party’s
rights under any applicable Requirement of Law; or

 

(f)          any
other defense, setoff, counterclaim or any other circumstance that might otherwise constitute a legal or equitable discharge of
the Borrower, any other Guarantor or any of the Borrower’s other Subsidiaries, in each case other than the payment in full
of the Guaranteed Obligations.

 

Section 2.6           Waivers.
Each Guarantor hereby unconditionally and irrevocably waives and agrees not to assert any claim, defense, setoff or counterclaim
based on diligence, promptness, presentment, requirements for any demand or notice hereunder including any of the following:
(a) any demand for payment or performance and protest and notice of protest, (b) any notice of acceptance, (c) any presentment,
demand, protest or further notice or other requirements of any kind with respect to any Guaranteed Obligation (including any accrued
but unpaid interest thereon) becoming immediately due and payable, (d) any rights and defenses arising out of an election of remedies
by Collateral Agent or any Secured Party, even if such election has destroyed such Grantor’s rights of subrogation and reimbursement
against the Borrower or any other Guarantor, and (e) any other notice in respect of any Guaranteed Obligation or any part thereof,
and any defense arising by reason of any disability or other defense of the Borrower or any other Guarantor. Each Guarantor further
unconditionally and irrevocably agrees not to (x) enforce or otherwise exercise any right of subrogation or any right of reimbursement
or contribution or similar right against the Borrower or any other Guarantor by reason of any Loan Document or any payment made
thereunder or (y) assert any claim, defense, setoff or counterclaim it may have against any other Loan Party or set off any of
its obligations to such other Loan Party against obligations of such Loan Party to such Guarantor. No obligation of any Guarantor
hereunder shall be discharged other than by complete performance.

 

Section 2.7           Reliance.
Each Guarantor hereby assumes responsibility for keeping itself informed of the financial condition of the Borrower, each other
Guarantor and any other guarantor, maker or endorser of any Guaranteed Obligation or any part thereof, and of all other circumstances
bearing upon the risk of nonpayment of any Guaranteed Obligation or any part thereof that diligent inquiry would reveal, and each
Guarantor hereby agrees that no Secured Party shall have any duty to advise any Guarantor of information known to it regarding
such condition or any such circumstances. In the event any Secured Party, in its sole discretion, undertakes at any time or from
time to time to provide any such information to any Guarantor, such Secured Party shall be under no obligation to (a) undertake
any investigation, (b) disclose any information that such Secured Party, pursuant to accepted or reasonable commercial finance
or banking practices, wishes to maintain confidential or (c) make any future disclosures of such information or any other
information to any Guarantor.

 

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Article III

Grant of Security Interest

 

Section 3.1           Collateral.
For the purposes of this Agreement, all of the following property now owned or at any time hereafter acquired by a Grantor or
in which a Grantor now has or at any time in the future may acquire any right, title or interest is collectively referred to as
the “Collateral”:

 

(a)          all
accounts, chattel paper, deposit accounts, documents (as defined in the UCC), equipment, general intangibles, instruments, inventory,
investment property, letter-of-credit rights and any supporting obligations related to any of the foregoing;

 

(b)          the
commercial tort claims described on Schedule 1 and on any supplement thereto received by the Collateral Agent pursuant
to Section 5.8;

 

(c)          all
books and records pertaining to the other property described in this Section 3.1;

 

(d)          all
property of such Grantor held by any Secured Party, including all property of every description, in the custody of or in transit
to such Secured Party for any purpose, including safekeeping, collection or pledge, for the account of such Grantor or as to which
such Grantor may have any right or power, including but not limited to cash;

 

(e)          all
other goods (including but not limited to fixtures) and personal property of such Grantor, whether tangible or intangible and wherever
located; and

 

(f)          to
the extent not otherwise included, all proceeds of the foregoing;

 

provided, that “Collateral”
shall not include any Excluded Property; and provided, further, that if and when any property shall cease to be Excluded
Property, such property shall be deemed at all times from and after the date thereof to constitute Collateral.

 

Section 3.2           Grant
of Security Interest in Collateral. Each Grantor, as collateral security for the prompt and complete payment and performance
when due (whether at stated maturity, by acceleration or otherwise) of the Obligations of such Grantor (the “Secured
Obligations”), hereby mortgages, pledges and hypothecates to the Collateral Agent for the benefit of the Secured Parties,
and grants to the Collateral Agent for the benefit of the Secured Parties a Lien on and security interest in, all of its right,
title and interest in, to and under the Collateral of such Grantor.

 

Section 3.3           Continuing
Liability Under Collateral. Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for
all obligations under the Collateral and nothing contained herein is intended to be or shall be a delegation of duties to the
Collateral Agent or any other Secured Party, (ii) each Grantor shall remain liable under each of the agreements included in the
Collateral, including, without limitation, any agreements relating to pledged partnership interests or pledged limited liability
company interests, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms
and provisions thereof and neither the Collateral Agent nor any Secured Party shall have any obligation or liability under any
of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the Collateral
Agent nor any Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by
it or have any obligation to take any action to collect or enforce any rights under any agreement included in the Collateral,
including, without limitation, any agreements relating to pledged partnership interests or pledged limited liability company interests,
and (iii) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties
or obligations under the contracts and agreements included in the Collateral.

 

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Article IV

Representations and Warranties

 

To induce the Lenders,
the L/C Issuer, the Administrative Agent and the Collateral Agent to enter into the Loan Documents, each Grantor hereby represents
and warrants each of the following to the Administrative Agent, the Collateral Agent, the Lenders, the L/C Issuer and the other
Secured Parties:

 

Section 4.1           Title;
No Other Liens. Except for the Lien granted to the Collateral Agent pursuant to this Agreement and other Permitted Liens,
such Grantor owns each item of the Collateral free and clear of any and all Liens or claims of others. Such Grantor (a) is the
record and beneficial owner of the Collateral pledged by it hereunder constituting instruments or certificates and (b) has rights
in or the power to transfer each other item of Collateral in which a Lien is granted by it hereunder, free and clear of any other
Lien.

 

Section 4.2           Perfection
and Priority. The security interest granted pursuant to this Agreement constitutes a valid and continuing perfected security
interest in favor of the Collateral Agent for the benefit of the Secured Parties in all Collateral subject, for the following
Collateral, to the occurrence of the following: (i) in the case of all Collateral in which a security interest may be perfected
by filing a financing statement under the UCC, the completion of the filings specified on Schedule 2 (which, in the
case of all filings referred to on such schedule, have been duly authorized by each Grantor and delivered to the Collateral Agent
in completed form), (ii) with respect to any deposit account, the execution of a Control Agreement, (iii) in the case of all Copyrights,
Trademarks and Patents for which UCC filings are insufficient, all appropriate filings having been made with the Applicable IP
Office, (iv) in the case of letter-of-credit rights that are not supporting obligations of Collateral, the execution of a Contractual
Obligation granting control to the Collateral Agent over such letter-of-credit rights, and (v) in the case of electronic chattel
paper, the completion of all steps necessary to grant control to the Collateral Agent over such electronic chattel paper. Such
security interest shall be prior to all other Liens on the Collateral except for Customary Permitted Liens having priority over
the Collateral Agent’s Lien by operation of law or permitted pursuant to clause (c), (e) or (j) of
the definition of “Customary Permitted Liens” in the Credit Agreement or subsection 8.2(c), 8.2(d),
8.2(e), 8.2(f) or 8.2(h) of the Credit Agreement upon (i) in the case of all Pledged Certificated Stock,
Pledged Debt Instruments and Pledged Investment Property, the delivery thereof to the Collateral Agent of such Pledged Certificated
Stock, Pledged Debt Instruments and Pledged Investment Property consisting of instruments and certificates, in each case properly
endorsed for transfer to the Collateral Agent or in blank, (ii) in the case of all Pledged Investment Property not in certificated
form, the execution of a Control Agreement with respect to such investment property, and (iii) in the case of all other instruments
and tangible chattel paper that are not Pledged Certificated Stock, Pledged Debt Instruments or Pledged Investment Property, the
delivery to the Collateral Agent of such instruments and tangible chattel paper. Except as set forth in this Section 4.2,
all actions by each Grantor necessary to perfect the Lien granted hereunder on the Collateral have been duly taken.

 

Section 4.3           Jurisdiction
of Organization; Chief Executive Office. Such Grantor’s jurisdiction of organization, legal name and organizational
identification number, if any, and the location of such Grantor’s chief executive office or sole place of business, in each
case as of the date hereof, is specified on Schedule 3 and such Schedule 3 also lists all jurisdictions
of incorporation, legal names and locations of such Grantor’s chief executive office or sole place of business for the five
years preceding the date hereof.

 

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Section 4.4           Locations
of Inventory, Equipment and Books and Records. On the date hereof, such Grantor’s inventory and equipment (other than
inventory or equipment in transit) and books and records concerning the Collateral are kept at the locations listed on Schedule 4
and such Schedule 4 also lists the locations of such inventory, equipment and books and records for the five years
preceding the date hereof.

 

Section 4.5           Pledged
Collateral. (a) The Pledged Stock of all Subsidiaries pledged by such Grantor hereunder and all other Pledged Stock in excess
of $500,000 individually or $1,000,000 in the aggregate (i) is, as of the Closing Date, listed on Schedule 5 and,
as of the Closing Date, constitutes that percentage of the issued and outstanding equity of all classes of each issuer thereof
as set forth on Schedule 5, (ii) has been duly authorized, validly issued and is fully paid and nonassessable (other
than Pledged Stock in limited liability companies and partnerships), (iii) constitutes the legal, valid and binding obligation
of the obligor with respect thereto, enforceable in accordance with its terms and (iv) in the case of Pledged Certificated Stock,
has been delivered to the Collateral Agent in accordance with Section 5.3(a) as of the Closing Date.

 

(b)          As
of the Closing Date, all Pledged Collateral (other than Pledged Stock) in excess of $500,000 individually or $1,000,000 in the
aggregate, all Pledged Debt Instruments required to be pledged hereunder pursuant to Section 8.1(e) or 8.3(e) of
the Credit Agreement, and all Pledged Investment Property consisting of instruments and certificates in excess of $500,000 individually
or $1,000,000 in the aggregate, in each case has been delivered to the Collateral Agent in accordance with Section 5.3(a).

 

(c)          Upon
the occurrence and during the continuance of an Event of Default, the Collateral Agent, at the direction of the Administrative
Agent, shall be entitled to exercise all of the rights of the Grantor granting the security interest in any Pledged Stock, and
a transferee or assignee of such Pledged Stock shall become a holder of such Pledged Stock to the same extent as such Grantor and
be entitled to participate in the management of the issuer of such Pledged Stock and, upon the transfer of the entire interest
of such Grantor, such Grantor shall, by operation of law, cease to be a holder of such Pledged Stock.

 

Section 4.6           Instruments
and Tangible Chattel Paper Formerly Accounts. No amount payable to such Grantor under or in connection with any Collateral
is evidenced by any instruments or tangible chattel paper in excess of $500,000 individually or $1,000,000 in the aggregate that
has not been delivered to the Collateral Agent, properly endorsed for transfer, to the extent delivery is required by Section 5.5(a).

 

Section 4.7           Intellectual
Property. (a) As of the Closing Date, Schedule 6 sets forth a true and complete list of the following Intellectual
Property such Grantor owns (or, in the case of Material Intellectual Property, licenses): (i) Intellectual Property that is registered
or subject to applications for registration, including for each of the foregoing items (1) the owner, (2) the title, (3) the jurisdiction
in which such item has been registered or otherwise arises or in which an application for registration has been filed, and (4)
as applicable, the registration or application number and registration or application date, (ii) Internet Domain Names and (iii)
Material Intellectual Property.

 

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(b)          On
the Closing Date, all Material Intellectual Property owned by such Grantor is in full force and effect, subsisting, unexpired and,
to such Grantor’s knowledge, valid and enforceable, and no Material Intellectual Property has been abandoned. The consummation
of the transactions contemplated by the Loan Documents shall not limit or impair the ownership, use, validity or enforceability
of, or any rights of such Grantor in, any Material Intellectual Property. There are no pending (or, to the knowledge of such Grantor,
threatened) actions, investigations, suits, proceedings, audits, claims, demands, orders or disputes challenging the ownership,
use, validity, enforceability of, or such Grantor’s rights in, any Material Intellectual Property owned by such Grantor.
To such Grantor’s knowledge, no Person has been or is infringing, misappropriating, diluting, violating or otherwise impairing
any Material Intellectual Property owned by such Grantor. Such Grantor and, to such Grantor’s knowledge, each other party
thereto is not in material breach or default of any material IP License.

 

Section 4.8           Commercial
Tort Claims. The only commercial tort claims of any Grantor existing on the date hereof (regardless of whether the amount,
defendant or other material facts can be definitively determined and regardless of whether such commercial tort claim has been
asserted, threatened or has otherwise been made known to the obligee thereof or whether litigation has been commenced for such
claims) in excess of $500,000 individually or $1,000,000 in the aggregate are those listed on Schedule 1, which sets
forth such information separately for each Grantor.

 

Section 4.9           Specific
Collateral. As of the Closing Date, none of the Collateral is or is proceeds or products of farm products, “as-extracted
collateral” (as defined in the UCC), health care insurance receivables or timber to be cut.

 

Section 4.10         Enforcement.
No Permit, notice to or filing with any Governmental Authority or any other Person or any consent from any Person is required
for the exercise by the Collateral Agent of its rights (including voting rights) provided for in this Agreement or the enforcement
of remedies in respect of the Collateral pursuant to this Agreement, including the transfer of any Collateral, except as may be
required in connection with the disposition of any portion of the Pledged Collateral by laws affecting the offering and sale of
securities generally or any approvals that may be required to be obtained from any bailees or landlords to collect the Collateral.

 

Section 4.11         Representations
and Warranties of the Credit Agreement. The representations and warranties as to such Grantor and its Subsidiaries made by
the Borrower in Article IV (Representations and Warranties) of the Credit Agreement are true and correct on each
date as required by Section 3.2(b) of the Credit Agreement.

 

Article V

Covenants

 

Each Grantor agrees with
the Administrative Agent and the Collateral Agent to the following, as long as any Obligation or Commitment remains outstanding
and, in each case, unless the Required Lenders otherwise consent in writing:

 

Section 5.1           Maintenance
of Perfected Security Interest; Further Documentation and Consents. (a) Generally. Such Grantor shall (i) not
use or permit any Collateral to be used unlawfully or in violation of any provision of any Loan Document, any Requirement of Law
or any policy of insurance covering the Collateral and (ii) not enter into any Contractual Obligation or undertaking restricting
the right or ability of such Grantor or the Collateral Agent to Sell any Collateral if such restriction could, either individually
or in the aggregate, have a Material Adverse Effect.

 

(b)          Such
Grantor shall maintain the security interest created by this Agreement as a perfected security interest having at least the priority
described in Section 4.2 and shall defend such security interest and such priority against the claims and demands of
all Persons.

 

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(c)          Such
Grantor shall furnish to the Administrative Agent and the Collateral Agent from time to time statements and schedules further identifying
and describing the Collateral and such other documents in connection with the Collateral as the Administrative Agent and the Collateral
Agent may reasonably request, all in reasonable detail and in form and substance satisfactory to the Administrative Agent and the
Collateral Agent.

 

(d)          At
any time and from time to time, upon the reasonable written request of the Collateral Agent (as so directed by the Administrative
Agent), such Grantor shall, for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and
powers herein granted, (i) promptly and duly execute and deliver, and have recorded, such further documents, including an
authorization to file (or, as applicable, the filing of) any financing statement or amendment under the UCC (or other filings under
similar Requirements of Law) in effect in any jurisdiction with respect to the security interest created hereby and (ii) take such
further action as the Administrative Agent or the Collateral Agent may reasonably request.

 

(e)          To
ensure that a Lien and security interest is granted on any of the Excluded Property set forth in clause (ii) of the definition
of “Excluded Property”, such Grantor shall use its commercially reasonable efforts to obtain any required consents
from any Person other than the Borrower and its Affiliates with respect to any permit or license or any Contractual Obligation
with such Person entered into by such Grantor that requires such consent as a condition to the creation by such Grantor of a Lien
on any right, title or interest in such permit, license or Contractual Obligation or any Stock or Stock Equivalent related thereto.

 

Section 5.2           [Reserved].

 

Section 5.3           Pledged
Collateral. (a) Delivery of Pledged Collateral. Such Grantor shall, within 30 days of the acquisition or formation
thereof, (i) deliver to the Collateral Agent, in suitable form for transfer and in form and substance satisfactory to the Administrative
Agent, (A) all Pledged Certificated Stock of Subsidiaries, (B) all other Pledged Certificated Stock, (C) all Pledged Debt Instruments
and (D) all certificates and instruments evidencing Pledged Investment Property, in each case of clauses (B), (C), and (D) in
excess of $500,000 individually or $1,000,000 in the aggregate; provided that Pledged Certificated Stock of Subsidiaries
and Pledged Debt Instruments required to be pledged hereunder pursuant to Section 8.1(e) or 8.3(e) of the Credit
Agreement shall be delivered regardless of their value and (ii) maintain all other Pledged Investment Property in a securities
account subject to a Control Agreement.

 

(b)          Event
of Default. During the continuance of an Event of Default, the Collateral Agent shall have the right, at any time at the direction
of the Administrative Agent (in the Administrative Agent’s discretion) and without notice to the Grantor, to (i) transfer
to or to register in its name or in the name of its nominees any Pledged Collateral or any Pledged Investment Property and (ii)
exchange any certificate or instrument representing or evidencing any Pledged Collateral or any Pledged Investment Property for
certificates or instruments of smaller or larger denominations.

 

(c)          Cash
Distributions with respect to Pledged Collateral. Except as provided in Article VI, such Grantor shall be entitled
to receive all cash distributions paid in respect of the Pledged Collateral.

 

(d)          Voting
Rights. Except as provided in Article VI, such Grantor shall be entitled to exercise all voting, consent and corporate,
partnership, limited liability company and similar rights with respect to the Pledged Collateral; provided, that no vote
shall be cast, consent given or right exercised or other action taken by such Grantor that would impair the Collateral or be inconsistent
with or result in any violation of any provision of any Loan Document. The Collateral Agent shall have no duty or obligation to
exercise or monitor such voting rights.

 

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Section 5.4           Accounts.
Such Grantor shall not, other than in the ordinary course of business, (i) grant any extension of the time of payment of any account,
(ii) compromise or settle any account for less than the full amount thereof, (iii) release, wholly or partially, any Person
liable for the payment of any account, (iv) allow any credit or discount on any account or (v) amend, supplement or modify any
account in any manner that could adversely affect the value thereof.

 

Section 5.5           Delivery
of Instruments and Tangible Chattel Paper, Letter-of-Credit Rights and Electronic Chattel Paper. (a) If any amounts in excess
of $500,000 individually or $1,000,000 in the aggregate payable under or in connection with any Collateral owned by such Grantor
shall be or become evidenced by an instrument or tangible chattel paper other than such instrument delivered in accordance with
Section 5.3(a) and in the possession of the Collateral Agent, such Grantor shall mark all such instruments and tangible
chattel paper with the following legend: “This writing and the obligations evidenced or secured hereby are subject to the
security interest of Royal Bank of Canada, as Collateral Agent”, shall promptly (and in any event within 30 days) provide
a notice of acquisition of such instrument or chattel paper to the Collateral Agent, and, at the request of the Administrative
Agent, shall immediately deliver such instrument or tangible chattel paper to the Collateral Agent, duly indorsed in a manner
satisfactory to the Administrative Agent.

 

(b)          Such
Grantor shall not grant “control” (within the meaning of such term under Article 9-106 of the UCC) over any investment
property to any Person other than the Collateral Agent.

 

(c)          If
such Grantor is or becomes the beneficiary of a letter or letters of credit that is (i) not a supporting obligation of any
Collateral and (ii) in excess of $500,000 individually or $1,000,000 in the aggregate, then such Grantor shall promptly, and in
any event within 2 Business Days after becoming a beneficiary, notify the Collateral Agent thereof. Such Grantor shall use commercially
reasonable efforts to enter into a Contractual Obligation with the Collateral Agent, the issuer of such letter of credit or any
nominated person with respect to the letter-of-credit rights under such letter of credit. Such Contractual Obligation shall assign
proceeds of such letters of credit to the Collateral Agent in a manner sufficient to grant control for the purposes of Section
9-107 of the UCC (or any similar section under any equivalent UCC). Such Contractual Obligation shall also direct all payments
thereunder to a Cash Collateral Account. The provisions of such Contractual Obligation shall be in form and substance reasonably
satisfactory to the Administrative Agent.

 

(d)          If
any amounts in excess of $500,000 individually or $1,000,000 in the aggregate payable under or in connection with any Collateral
owned by such Grantor shall be or become evidenced by electronic chattel paper, such Grantor shall take all steps necessary to
grant the Collateral Agent control of all such electronic chattel paper for the purposes of Section 9-105 of the UCC (or any similar
section under any equivalent UCC) and all “transferable records” as defined in each of the Uniform Electronic Transactions
Act and the Electronic Signatures in Global and National Commerce Act related to such electronic chattel paper.

 

Section 5.6           Intellectual
Property. (a) Within 60 days after any change to Schedule 6 for such Grantor, such Grantor shall provide the Collateral
Agent notification thereof and the short-form intellectual property agreements and assignments as described in this Section 5.6
and other documents that the Administrative Agent reasonably requests with respect thereto.

 

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(b)          Such
Grantor shall (and shall exercise commercially reasonable efforts to cause all of its licensees to), to the extent the applicable
Intellectual Property remains, in the reasonable judgment of such Grantor, necessary for or useful in the conduct of such Grantor’s
business: (i) (1) continue to use each Trademark included in the Material Intellectual Property in order to maintain such
Trademark in full force and effect with respect to each class of goods for which such Trademark is currently used, free from any
claim of abandonment for non-use, (2) maintain at least the same standards of quality of products and services offered under such
Trademark as are currently maintained, (3) use such Trademark, where commercially practicable, with the appropriate notice
of registration and all other notices and legends required by applicable Requirements of Law, and (4) not adopt or use any other
Trademark that is confusingly similar or a colorable imitation of such Trademark unless the Collateral Agent shall obtain a perfected
security interest in such other Trademark pursuant to this Agreement; and (ii) not do any act or omit to do any act whereby (w)
any Trademark included in the Material Intellectual Property (or any goodwill associated therewith) may become destroyed, invalidated,
impaired or harmed in any way, (x) any Patent included in the Material Intellectual Property may become forfeited, misused, unenforceable,
abandoned or dedicated to the public, (y) any Copyrights included in the Material Intellectual Property may become invalidated,
otherwise impaired or fall into the public domain, or (z) any Trade Secret that is Material Intellectual Property may be disclosed
to an unauthorized third party or become publicly available or otherwise unprotectable.

 

(c)          Such
Grantor shall notify the Collateral Agent immediately if it knows, or has reason to know, that any application or registration
relating to any Material Intellectual Property may become forfeited, misused, unenforceable, abandoned or dedicated to the public,
or of any adverse determination or development regarding the validity or enforceability or such Grantor’s ownership of, interest
in, right to use, register, own or maintain any Material Intellectual Property (including the institution of, or any such determination
or development in, any proceeding relating to the foregoing in any Applicable IP Office). Such Grantor shall take all actions that
are necessary or reasonably requested by the Administrative Agent to maintain and pursue each application (and to obtain the relevant
registration or recordation) and to maintain each registration and recordation included in the Material Intellectual Property.

 

(d)          Such
Grantor shall not do any act or omit to do any act to infringe, misappropriate, dilute, violate or otherwise impair the Intellectual
Property of any other Person, except for any such action or omission as would not be expected to have a Material Adverse Effect.
In the event that any Material Intellectual Property of such Grantor is or has been infringed, misappropriated, violated, diluted
or otherwise impaired by a third party, such Grantor shall take such action, if any, as it reasonably deems appropriate under the
circumstances in response thereto, including promptly bringing suit and recovering all damages therefor.

 

(e)          Such
Grantor shall execute and deliver to the Collateral Agent in form and substance reasonably acceptable to the Administrative Agent
and suitable for (i) filing in the Applicable IP Office the short-form intellectual property security agreements in the form
attached hereto as Annex 3 for all Copyrights, Trademarks, Patents and IP Licenses of such Grantor, and (ii) if
requested by the Collateral Agent at the direction of the Administrative Agent during the continuation of an Event of Default,
recording with the appropriate Internet domain name registrar, a duly executed form of assignment for all Internet Domain Names
of such Grantor, in each case, together with appropriate supporting documentation as may be requested by the Collateral Agent.

 

Section 5.7           Notices.
Such Grantor shall promptly (and in any event within 30 days of the acquisition thereof) notify the Collateral Agent in writing
of its acquisition of any interest hereafter in property that is of a type where a security interest or lien must be or may be
registered, recorded or filed under, or notice thereof given under, any federal statute or regulation.

 

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Section 5.8           Notice
of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claims in excess
of $500,000 individually or $1,000,000 in the aggregate (whether from another Person or because such commercial tort claim shall
have come into existence), (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral Agent, in each
case in form and substance satisfactory to the Administrative Agent, a notice of the existence and nature of such commercial tort
claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1
shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the Collateral Agent, in each case
in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative
Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf of the Lenders, a perfected security
interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to
Schedule 1 delivered pursuant to this Section 5.8 shall, after the receipt thereof by the Collateral Agent,
become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior
to the date of such receipt.

 

Section 5.9           Compliance
with Credit Agreement. Such Grantor agrees to comply with all covenants and other provisions applicable to it under the Credit
Agreement, including Sections 2.17 (Taxes) and 11.3 (Costs and Expenses) of the Credit Agreement,
and agrees to the same submission to jurisdiction as that agreed to by the Borrower in the Credit Agreement.

 

Section 5.10         Controlled
Securities Account. Each Grantor shall deposit all of its Cash Equivalents in securities accounts that are subject to Control
Agreements except for (i) Cash Equivalents the value of which does not exceed $500,000 individually or $1,000,000 in the aggregate
and (ii) Cash Equivalents which are deposited in accounts that are the subject of Section 5.11.

 

Section 5.11         Cash
Management Systems. Each Grantor shall enter into, and cause each depository, securities intermediary or commodities intermediary
to enter into, Control Agreements with respect to each deposit, securities, commodity or similar account maintained by such Person
(other than any payroll account, withholding tax and fiduciary accounts and other accounts containing less than $500,000 individually
or $1,000,000 in the aggregate) as of or after the Closing Date.

 

Article VI

Remedial Provisions

 

Section 6.1           Code
and Other Remedies. (a) UCC Remedies. During the continuance of an Event of Default, the Collateral Agent may exercise,
in addition to all other rights and remedies granted to it in this Agreement and in any other instrument or agreement securing,
evidencing or relating to any Secured Obligation, all rights and remedies of a secured party under the UCC or any other applicable
law.

 

(b)          Disposition
of Collateral. Without limiting the generality of the foregoing, the Collateral Agent may at the written direction of the Administrative
Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice
required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements
and notices are hereby waived), during the continuance of any Event of Default (personally or through its agents or attorneys),
(i) enter upon the premises where any Collateral is located, without any obligation to pay rent, through self-help, without judicial
process, without first obtaining a final judgment or giving any Grantor or any other Person notice or opportunity for a hearing
on the Collateral Agent’s claim or action, (ii) collect, receive, appropriate and realize upon any Collateral and (iii) Sell,
grant an option or options to purchase and deliver any Collateral (enter into Contractual Obligations to do any of the foregoing),
in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of any Secured Party
or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit
or for future delivery without assumption of any credit risk. The Collateral Agent shall have the right, upon any such public sale
or sales and, to the extent permitted by the UCC and other applicable Requirements of Law, upon any such private sale, to purchase
the whole or any part of the Collateral so sold, free of any right or equity of redemption of any Grantor, which right or equity
is hereby waived and released.

 

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(c)          Management
of the Collateral. Each Grantor further agrees that, during the continuance of any Event of Default, (i) at the Administrative
Agent’s request, it shall assemble the Collateral and make it available to the Collateral Agent at places that the Collateral
Agent shall reasonably select, whether at such Grantor’s premises or elsewhere, (ii) without limiting the foregoing, the
Collateral Agent also has the right to require that each Grantor store and keep any Collateral pending further action by the Collateral
Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary to
protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able
to Sell any Collateral, the Collateral Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate
for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent and
(iv) the Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral
and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment
without prior notice or hearing as to such appointment. The Collateral Agent shall not have any obligation to any Grantor to maintain
or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral is in the possession
of the Collateral Agent.

 

(d)          Application
of Proceeds. The Collateral Agent shall apply the cash proceeds of any action taken by it pursuant to this Section 6.1,
after deducting all of its reasonable costs and expenses of every kind incurred in connection therewith or incidental to the care
or safekeeping of any Collateral or in any way relating to the Collateral or the rights of the Collateral Agent and any other Secured
Party hereunder, including, but not limited to, the reasonable fees and disbursements of any third party agent and reasonable attorneys’
fees and disbursements, to the payment in whole or in part of the Secured Obligations, as set forth in the Credit Agreement, and
only after such application and after the payment by the Collateral Agent of any other amount required by any Requirement of Law,
need the Collateral Agent account for the surplus, if any, to any Grantor.

 

(e)          Direct
Obligation. Neither the Collateral Agent nor any other Secured Party shall be required to make any demand upon, or pursue or
exhaust any right or remedy against, any Grantor, any other Loan Party or any other Person with respect to the payment of the Obligations
or to pursue or exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect guaranty thereof.
All of the rights and remedies of the Collateral Agent and any other Secured Party under any Loan Document shall be cumulative,
may be exercised individually or concurrently and not exclusive of any other rights or remedies provided by any Requirement of
Law. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage
of, and covenants not to assert against the Collateral Agent or any other Secured Party, any valuation, stay, appraisement, extension,
redemption or similar laws and any and all rights or defenses it may have as a surety, now or hereafter existing, arising out of
the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be
required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.

 

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(f)          Commercially
Reasonable. To the extent that applicable Requirements of Law impose duties on the Collateral Agent to exercise remedies in
a commercially reasonable manner, each Grantor acknowledges and agrees that it is commercially reasonable for the Collateral Agent
to do any of the following:

 

(i)          fail
to incur significant costs, expenses or other Liabilities reasonably deemed as such by the Collateral Agent to prepare any Collateral
for disposition or otherwise to complete raw material or work in process into finished goods or other finished products for disposition;

 

(ii)         fail
to obtain Permits, or other consents, for access to any Collateral to Sell or for the collection or Sale of any Collateral, or,
if not required by other Requirements of Law, fail to obtain Permits or other consents for the collection or disposition of any
Collateral;

 

(iii)        fail
to exercise remedies against account debtors or other Persons obligated on any Collateral or to remove Liens on any Collateral
or to remove any adverse claims against any Collateral;

 

(iv)        advertise
dispositions of any Collateral through publications or media of general circulation, whether or not such Collateral is of a specialized
nature or to contact other Persons, whether or not in the same business as any Grantor, for expressions of interest in acquiring
any such Collateral;

 

(v)         exercise
collection remedies against account debtors and other Persons obligated on any Collateral, directly or through the use of collection
agencies or other collection specialists, hire one or more professional auctioneers to assist in the disposition of any Collateral,
whether or not such Collateral is of a specialized nature or, to the extent deemed appropriate by the Collateral Agent, obtain
the services of other brokers, investment bankers, consultants and other professionals to assist the Collateral Agent in the collection
or disposition of any Collateral, or utilize Internet sites that provide for the auction of assets of the types included in the
Collateral or that have the reasonable capacity of doing so, or that match buyers and sellers of assets to dispose of any Collateral;

 

(vi)        dispose
of assets in wholesale rather than retail markets;

 

(vii)       disclaim
disposition warranties, such as title, possession or quiet enjoyment; or

 

(viii)      purchase
insurance or credit enhancements to insure the Collateral Agent against risks of loss, collection or disposition of any Collateral
or to provide to the Collateral Agent a guaranteed return from the collection or disposition of any Collateral.

 

Each Grantor acknowledges that the purpose
of this Section 6.1 is to provide a non-exhaustive list of actions or omissions that are commercially reasonable when
exercising remedies against any Collateral and that other actions or omissions by the Secured Parties shall not be deemed commercially
unreasonable solely on account of not being indicated in this Section 6.1. Without limitation upon the foregoing, nothing
contained in this Section 6.1 shall be construed to grant any rights to any Grantor or to impose any duties on the
Collateral Agent that would not have been granted or imposed by this Agreement or by applicable Requirements of Law in the absence
of this Section 6.1.

 

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(g)          IP
Licenses. For the purpose of enabling the Collateral Agent (at the direction of the Administrative Agent) to exercise rights
and remedies under this Section 6.1 (including in order to take possession of, collect, receive, assemble, process,
appropriate, remove, realize upon, Sell or grant options to purchase any Collateral) at such time as the Collateral Agent shall
be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Collateral Agent, for the benefit
of the Secured Parties, (i) an irrevocable, nonexclusive, worldwide license (exercisable without payment of royalty or other
compensation to such Grantor), including in such license the right to sublicense, use and practice any Intellectual Property now
owned or hereafter acquired by such Grantor and access to all media in which any of the licensed items may be recorded or stored
and to all Software and programs used for the compilation or printout thereof and (ii) an irrevocable license (without payment
of rent or other compensation to such Grantor) to use, operate and occupy all Real Property owned, operated, leased, subleased
or otherwise occupied by such Grantor.

 

Section 6.2           Accounts
and Payments in Respect of General Intangibles. (a) In addition to, and not in substitution for, any similar requirement in
the Credit Agreement, if required by the Collateral Agent at any time during the continuance of (A) an Event of Default under clause
(a) or clause (e)(ii) of Section 9.1 of the Credit Agreement or (B) any other Event of Default in connection
with the exercise of remedies by the Administrative Agent pursuant to Section 9.2 of the Credit Agreement, (i) any payment
of accounts or payment in respect of general intangibles, when collected by any Grantor, shall be promptly (and, in any event,
within 2 Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral Agent,
in a Security Cash Collateral Account, subject to withdrawal by the Collateral Agent as provided in Section 6.4, and
(ii) until so turned over, such payment shall be held by such Grantor in trust for the Collateral Agent, segregated from other
funds of such Grantor. Each such deposit of proceeds of accounts and payments in respect of general intangibles shall be accompanied
by a report identifying in reasonable detail the nature and source of the payments included in the deposit.

 

(b)          At
any time during the continuance of (A) an Event of Default under clause (a) or clause (e)(ii) of Section 9.1
of the Credit Agreement or (B) any other Event of Default in connection with the exercise of remedies by the Administrative Agent
pursuant to Section 9.2 of the Credit Agreement:

 

(i)          each
Grantor shall, upon the Collateral Agent’s request, deliver to the Collateral Agent all original and other documents evidencing,
and relating to, the Contractual Obligations and transactions that gave rise to any account or any payment in respect of general
intangibles, including all original orders, invoices and shipping receipts and notify account debtors that the accounts or general
intangibles have been collaterally assigned to the Collateral Agent and that payments in respect thereof shall be made directly
to the Collateral Agent; and

 

(ii)         the
Collateral Agent may, without notice, limit or terminate the authority of a Grantor to collect its accounts or amounts due under
general intangibles or any thereof and, in its own name or in the name of others, communicate with account debtors to verify with
them to the Collateral Agent’s satisfaction the existence, amount and terms of any account or amounts due under any general
intangible. In addition, the Collateral Agent may (at the direction of the Administrative Agent) at any time enforce such Grantor’s
rights against such account debtors and obligors of general intangibles.

 

(c)          At
any time during the continuance of an Event of Default, each Grantor shall take all actions, deliver all documents and provide
all information necessary or reasonably requested by the Collateral Agent (at the direction of the Administrative Agent) to ensure
any Internet Domain Name is registered.

 

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(d)          Anything
herein to the contrary notwithstanding, each Grantor shall remain liable under each account and each payment in respect of general
intangibles to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance
with the terms of any agreement giving rise thereto. No Secured Party shall have any obligation or liability under any agreement
giving rise to an account or a payment in respect of a general intangible by reason of or arising out of any Loan Document or the
receipt by any Secured Party of any payment relating thereto, nor shall any Secured Party be obligated in any manner to perform
any obligation of any Grantor under or pursuant to any agreement giving rise to an account or a payment in respect of a general
intangible, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to
the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance
or to collect the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.

 

Section 6.3           Pledged
Collateral. (a) Voting Rights. During the continuance of an Event of Default, upon notice by the Collateral Agent to
the relevant Grantor or Grantors, the Collateral Agent or its nominee may exercise (at the direction of the Administrative
Agent) (A) any voting, consent, corporate and other right pertaining to the Pledged Collateral at any meeting of shareholders,
partners or members, as the case may be, of the relevant issuer or issuers of Pledged Collateral or otherwise and (B) any right
of conversion, exchange and subscription and any other right, privilege or option pertaining to the Pledged Collateral as if it
were the absolute owner thereof (including the right to exchange at its discretion any Pledged Collateral upon the merger, amalgamation,
consolidation, reorganization, recapitalization or other fundamental change in the corporate or equivalent structure of any issuer
of Pledged Stock, the right to deposit and deliver any Pledged Collateral with any committee, depositary, transfer agent, registrar
or other designated agency upon such terms and conditions as the Collateral Agent may determine), all without liability except
to account for property actually received by it; provided, that the Collateral Agent shall have no duty to any Grantor to
exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing.

 

(b)          Proxies.
In order to permit the Collateral Agent to exercise the voting and other consensual rights that it may be entitled to exercise
pursuant hereto and to receive all dividends and other distributions that it may be entitled to receive hereunder, (i) each Grantor
shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Agent all such proxies, dividend payment
orders and other instruments as the Collateral Agent may from time to time reasonably request and (ii) without limiting the effect
of clause (i) above, such Grantor hereby grants to the Collateral Agent an irrevocable proxy to vote all or any part
of the Pledged Collateral and to exercise all other rights, powers, privileges and remedies to which a holder of the Pledged Collateral
would be entitled (including giving or withholding written consents of shareholders, partners or members, as the case may be, calling
special meetings of shareholders, partners or members, as the case may be, and voting at such meetings), which proxy shall be effective,
automatically and without the necessity of any action (including any transfer of any Pledged Collateral on the record books of
the issuer thereof) by any other person (including the issuer of such Pledged Collateral or any officer or agent thereof) during
the continuance of an Event of Default and which proxy shall only terminate upon the payment in full of the Secured Obligations.

 

(c)          Authorization
of Issuers. Each Grantor hereby expressly and irrevocably authorizes and instructs, without any further instructions from such
Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by
it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with
the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor
in so complying and (ii) unless otherwise expressly permitted hereby, pay any dividend or make any other payment with respect
to the Pledged Collateral directly to the Collateral Agent.

 

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Section 6.4           Proceeds
to be Turned over to and Held by Collateral Agent. Unless otherwise expressly provided in the Credit Agreement or this Agreement,
during the continuance of an Event of Default, all proceeds of any Collateral received by any Grantor hereunder in cash or Cash
Equivalents shall be held by such Grantor in trust for the Collateral Agent and the other Secured Parties, segregated from other
funds of such Grantor, and shall, promptly upon receipt by any Grantor, be turned over to the Collateral Agent in the exact form
received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral received by
the Collateral Agent in cash or Cash Equivalents shall be held by the Collateral Agent in a Security Cash Collateral Account. All
proceeds being held by the Collateral Agent in a Security Cash Collateral Account (or by such Grantor in trust for the Collateral
Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until
applied as provided in the Credit Agreement.

 

Section 6.5           Registration
Rights. (a) If, in the opinion of the Administrative Agent, it is necessary or advisable to Sell any portion of the Pledged
Collateral by registering such Pledged Collateral under the Securities Act of 1933 (the “Securities Act”), each
relevant Grantor shall cause the issuer thereof to do or cause to be done all acts as may be, in the opinion of the Collateral
Agent, necessary or advisable to register such Pledged Collateral or that portion thereof to be Sold under the provisions of the
Securities Act, all as directed by the Administrative Agent in conformity with the requirements of the Securities Act and the rules
and regulations of the Securities and Exchange Commission applicable thereto and in compliance with the securities or “Blue
Sky” laws of any jurisdiction that the Administrative Agent shall designate.

 

(b)          Each
Grantor recognizes that the Collateral Agent may be unable to effect a public sale of any Pledged Collateral by reason of certain
prohibitions contained in the Securities Act and applicable state or foreign securities laws or otherwise or may determine that
a public sale is impracticable, not desirable or not commercially reasonable and, accordingly, may resort to one or more private
sales thereof to a restricted group of purchasers that shall be obliged to agree, among other things, to acquire such securities
for their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees
that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding
such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The
Collateral Agent shall be under no obligation to delay a sale of any Pledged Collateral for the period of time necessary to permit
the issuer thereof to register such securities for public sale under the Securities Act or under applicable state securities laws
even if such issuer would agree to do so.

 

(c)          Each
Grantor agrees to use its best efforts to do or cause to be done all such other acts as may be necessary to make such sale or sales
of any portion of the Pledged Collateral pursuant to Section 6.1 and this Section 6.5 valid and binding and
in compliance with all applicable Requirements of Law. Each Grantor further agrees that a breach of any covenant contained in Section
6.1 and this Section 6.5 will cause irreparable injury to the Collateral Agent and other Secured Parties, that
the Collateral Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence,
that each and every covenant contained in Section 6.1 and this Section 6.5 shall be specifically enforceable
against such Grantor, and such Grantor hereby waives and agrees not to assert any defense against an action for specific performance
of such covenants except for a defense that no Event of Default has occurred under the Credit Agreement. Each Grantor waives any
and all rights of contribution or subrogation upon the sale or disposition of all or any portion of the Pledged Collateral by the
Collateral Agent.

 

Section 6.6           Deficiency.
Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of any Collateral are insufficient
to pay the Secured Obligations and the fees and disbursements of any attorney employed by the Collateral Agent or any other Secured
Party to collect such deficiency.

 

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Article VII

The Collateral Agent

 

Section 7.1           Collateral
Agent’s Appointment as Attorney-in-Fact. (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral
Agent and any Related Person thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable
power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose
of carrying out the terms of the Loan Documents, to, upon the occurrence of and during the continuation of an Event of Default,
take any appropriate action and to execute any document or instrument that may be necessary or desirable to accomplish the purposes
of the Loan Documents, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent (as
so directed by the Administrative Agent) and its Related Persons the power and right, on behalf of such Grantor, without notice
to or assent by such Grantor, to do any of the following, in all cases solely, when an Event of Default shall be continuing:

 

(i)          in
the name of such Grantor, in its own name or otherwise, take possession of and indorse and collect any check, draft, note, acceptance
or other instrument for the payment of moneys due under any account or general intangible or with respect to any other Collateral
and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the
Collateral Agent for the purpose of collecting any such moneys due under any account or general intangible or with respect to any
other Collateral whenever payable;

 

(ii)         in
the case of any Intellectual Property owned by or licensed to the Grantors, execute, deliver and have recorded any document that
the Collateral Agent may request to evidence, effect, publicize or record the Collateral Agent’s security interest in such
Intellectual Property and the goodwill and general intangibles of such Grantor relating thereto or represented thereby;

 

(iii)        pay
or discharge taxes and Liens levied or placed on or threatened against any Collateral, effect any repair or pay any insurance called
for by the terms of the Credit Agreement (including all or any part of the premiums therefor and the costs thereof);

 

(iv)        execute,
in connection with any sale provided for in Section 6.1 or Section 6.5, any document to effect or otherwise
necessary or appropriate in relation to evidence the Sale of any Collateral; or

 

(v)         (A)
direct any party liable for any payment under any Collateral to make payment of any moneys due or to become due thereunder directly
to the Collateral Agent or as the Collateral Agent shall direct, (B) ask or demand for, and collect and receive payment of and
receipt for, any moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral,
(C) sign and indorse any invoice, freight or express bill, bill of lading, storage or warehouse receipt, draft against debtors,
assignment, verification, notice and other document in connection with any Collateral, (D) commence and prosecute any suit, action
or proceeding at law or in equity in any court of competent jurisdiction to collect any Collateral and to enforce any other right
in respect of any Collateral, (E) defend any actions, suits, proceedings, audits, claims, demands, orders or disputes brought against
such Grantor with respect to any Collateral, (F) settle, compromise or adjust any such actions, suits, proceedings, audits, claims,
demands, orders or disputes and, in connection therewith, give such discharges or releases as the Collateral Agent may deem appropriate,
(G) assign any Intellectual Property owned by the Grantors or any IP Licenses of the Grantors throughout the world on such terms
and conditions and in such manner as the Administrative Agent shall in its sole discretion determine, including the execution and
filing by the Collateral Agent (at the direction of the Administrative Agent) of any document necessary to effectuate or record
such assignment and (H) generally, Sell, grant a Lien on, make any Contractual Obligation with respect to and otherwise deal
with, any Collateral as fully and completely as though the Collateral Agent were the absolute owner thereof for all purposes and
do, at the Administrative Agent’s option, at any time or from time to time, all acts and things that the Administrative Agent
deems necessary to protect, preserve or realize upon any Collateral and the Secured Parties’ security interests therein and
to effect the intent of the Loan Documents, all as fully and effectively as such Grantor might do.

 

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(b)          If
any Grantor fails to perform or comply with any Contractual Obligation contained herein, the Collateral Agent, at its option, but
without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such Contractual Obligation.

 

(c)          The
expenses of the Collateral Agent incurred in connection with actions undertaken as provided in this Section 7.1, together
with interest thereon at a rate set forth in Section 2.9 (Interest) of the Credit Agreement, from the date of payment
by the Collateral Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Collateral Agent
on demand.

 

(d)          Each
Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue of this Section 7.1.
All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this
Agreement is terminated and the security interests created hereby are released.

 

Section 7.2           Authorization
to File Financing Statements. Each Grantor authorizes the Collateral Agent and its Related Persons, at any time and from time
to time, to file or record financing statements, amendments thereto, and other filing or recording documents or instruments with
respect to any Collateral in such form and in such offices as the Administrative Agent reasonably determines appropriate to perfect
the security interests of the Collateral Agent under this Agreement, and such financing statements and amendments may describe
the Collateral covered thereby as “all assets of the debtor” or words of similar effect. A photographic or other reproduction
of this Agreement shall be sufficient as a financing statement or other filing or recording document or instrument for filing or
recording in any jurisdiction. Such Grantor also hereby ratifies its authorization for the Collateral Agent to have filed any initial
financing statement or amendment thereto under the UCC (or other similar laws) in effect in any jurisdiction if filed prior to
the date hereof.

 

Section 7.3           
(a)          Authority of Collateral Agent. Each Grantor acknowledges
that the rights and responsibilities of the Collateral Agent under this Agreement with respect to any action taken by the Collateral
Agent or the exercise or non-exercise by the Collateral Agent of any option, voting right, request, judgment or other right or
remedy provided for herein or resulting or arising out of this Agreement shall, as between the Collateral Agent and the other Secured
Parties, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among
them, but, as between the Collateral Agent and the Grantors, the Collateral Agent shall be conclusively presumed to be acting as
agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any
obligation or entitlement to make any inquiry respecting such authority.

 

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(b)          Reliance
by Collateral Agent. Whenever reference is made in this Agreement to any action by, consent, designation, specification, requirement
or approval of, notice, request or other communication from, or other direction given or action to be undertaken or to be (or not
to be) suffered or omitted by the Collateral Agent or to any election, decision, opinion, acceptance, use of judgment, expression
of satisfaction or other exercise of discretion, rights or remedies to be made (or not to be made) by the Collateral Agent, it
is understood that in all cases the Collateral Agent shall be fully justified in failing or refusing to take any such action under
this Agreement if it shall not have received such advice or concurrence of the Administrative Agent as it deems appropriate. This
provision is intended solely for the benefit of the Collateral Agent and its successors and permitted assigns and is not intended
to and will not entitle the other parties hereto to any defense, claim or counterclaim, or confer any rights or benefits on any
party hereto.

 

Section 7.4           Duty;
Obligations and Liabilities. (a) Duty of Collateral Agent. The Collateral Agent’s sole duty with respect to the
custody, safekeeping and physical preservation of the Collateral in its possession shall be to deal with it in the same manner
as the Collateral Agent deals with similar property for its own account. The powers conferred on the Collateral Agent hereunder
are solely to protect the Collateral Agent’s interest in the Collateral and shall not impose any duty upon the Collateral
Agent to exercise any such powers. The Collateral Agent shall be accountable only for amounts that it receives as a result of the
exercise of such powers, and neither it nor any of its Related Persons shall be responsible to any Grantor or Secured Party for
any act or failure to act hereunder, except for their own gross negligence or willful misconduct as finally determined by a court
of competent jurisdiction. In addition,
the Collateral Agent shall not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the
value thereof, by reason of the act or omission of any warehousemen, carrier, forwarding agency, consignee or other bailee if such
Person has been selected by the Collateral Agent in good faith.

 

(b)          Obligations
and Liabilities with respect to Collateral. No Secured Party and no Related Person thereof shall be liable for failure to demand,
collect or realize upon any Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose
of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to any
Collateral. The powers conferred on the Collateral Agent hereunder shall not impose any duty upon any other Secured Party to exercise
any such powers. The other Secured Parties shall be accountable only for amounts that they actually receive as a result of the
exercise of such powers, and neither they nor any of their respective officers, directors, employees or agents shall be responsible
to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct as finally
determined by a court of competent jurisdiction.

 

(c)          The
Collateral Agent shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility
hereunder by reason of any occurrence beyond the control of the Collateral Agent (including but not limited to any act or provision
of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance
or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire facility or other wire or communication
facility).

 

(d)          The
Borrower shall pay to the Collateral Agent from time to time such compensation as is agreed to in writing by the Collateral Agent
and the Borrower for the services hereunder.

 

(e)          Each
Grantor irrevocably authorizes the Administrative Agent and the Collateral Agent to take such action on such Grantor's behalf and
to exercise such powers hereunder and under the other Loan Documents and under the other instruments and agreements referred to
herein and therein as are specifically delegated to it by the terms hereof and thereof, together with such powers as are reasonably
incidental thereto. Each of the Administrative Agent and the Collateral Agent shall have only those duties and responsibilities
which are expressly specified in this Agreement and the other Loan Documents and it may perform such duties by or through its agents
or employees.

 

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(f)          The
Collateral Agent shall not be responsible to any Grantor for the execution, effectiveness, genuineness, validity, enforceability,
collectability or sufficiency of this Agreement or any of the other Loan Documents, or for any Lien or guarantee granted by, or
purported to be granted by, any of the Loan Documents, or for any representations, warranties, recitals or statements made herein
or therein or made in any written or oral statement or in any financial or other statements, instruments, reports, certificates
or any other documents in connection herewith or therewith furnished or made by the Collateral Agent to any Grantor or by or on
behalf of the Borrower to the Administrative Agent, the Collateral Agent or any Grantor, or be required to ascertain or inquire
as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained herein or therein
or as to the use of the proceeds of the Loans or the existence or possible existence of any Default or Event of Default.

 

(g)          Neither
the Collateral Agent nor any of its officers, directors, employees, agents, investigators, consultants, attorneys-in-fact or affiliates
shall be liable to any Lender for any action taken or omitted hereunder, under any of the other Loan Documents or in connection
herewith or therewith unless caused by its or their gross negligence or willful misconduct. If the Collateral Agent shall request
instructions from the Administrative Agent with respect to any act or action (including the failure to take an action) in connection
with this Agreement or any of the other Loan Documents, the Collateral Agent shall be entitled to refrain from such act or taking
such action unless and until it shall have received instructions from the Administrative Agent. Without prejudice to the generality
of the foregoing, (i) the Collateral Agent shall be entitled to conclusively rely, and shall be fully protected in relying, upon
any communication, instrument or document believed by it to be genuine and correct and to have been signed or sent by the proper
Person or Persons, and shall be entitled to conclusively rely and shall be protected in relying on opinions and judgments of attorneys
(who may be attorneys for the Borrower or its Affiliates), accountants, experts and other professional advisors selected by it;
and (ii) no Lender shall have any right of action whatsoever against the Collateral Agent as a result of the Collateral Agent acting
or (where so instructed) refraining from acting under this Agreement or the other instruments and agreements referred to herein
in accordance with the instructions of the Administrative Agent. The Collateral Agent shall be entitled to refrain from exercising
any power, discretion or authority vested in it under this Agreement or the other Loan Documents or the other instruments and agreements
referred to herein or therein unless and until it has obtained the instructions of the Administrative Agent or it shall first be
indemnified to its satisfaction by the Lenders against any and all liability and expenses which may be incurred by it by reason
of taking or continuing to take such action. The Collateral Agent shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement and the other Loan Documents in accordance with a request of the Administrative Agent, and such
request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

 

(h)          The
agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon,
the Administrative Agent or the Collateral Agent in its individual capacity as a Lender hereunder. With respect to its participation
in the Loans, each of the Administrative Agent and the Collateral Agent shall have the same rights and powers hereunder as any
other Lender and may exercise the same as though it were not performing the duties and functions of delegated to it hereunder,
and the term “Lender” or “Lenders” or any similar term shall, unless the context clearly otherwise indicates,
include the Administrative Agent or the Collateral Agent in its individual capacity. Each of the Administrative Agent and the Collateral
Agent and their respective Affiliates may accept deposits from, lend money and to generally engage in any kind of banking, trust,
financial advisory or other business with the Borrower or its Affiliates as if it were not performing the duties specified herein,
and may accept fees and other consideration from the Borrower or any Affiliates thereof for services in connection with this Agreement
and the other Loan Documents, including transactions contemplated hereby or thereby, and otherwise without having to account for
the same to the Lenders.

 

    	23

    	 

    

 

(i)          Without
limiting the foregoing, neither the Administrative Agent nor the Collateral Agent shall be under any obligation to any Lender to
ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement
or any of the other Loan Documents, or to inspect the properties, books or records of the Borrower.

 

(j)          Without
limiting the foregoing, each of the Administrative Agent and the Collateral Agent may deem and treat the payee of any Loan as the
owner thereof for all purposes unless and until an Assignment with respect thereto shall have been filed with, and recorded by,
the Administrative Agent. Any request, authority or consent of any Person or entity who, at the time of making such request or
giving such authority or consent, is a Lender shall be conclusive and binding on any subsequent transferee or assign of that Lender.

 

(k)          In
no event shall the Collateral Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder
directly or indirectly caused by events beyond its control, including general labor disputes, acts of war or terrorism, civil or
military disturbances, nuclear or natural catastrophes or acts of God, or interruptions, losses or malfunctions of utilities, communications
or computer (software and hardware) services, provided, that lack of funds or other financial circumstances and labor disputes
only by the personnel of the affected party shall not constitute an event beyond its control hereunder and provided, further,
that the Collateral Agent, as the case may be, shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performances as soon as practicable under the circumstances.

 

Section 7.5           Replacement
of Collateral Agent. The Collateral Agent may resign from the performance of all its functions and duties hereunder and under
the other Loan Documents in accordance with Section 10.6 of the Credit Agreement.

 

Article VIII

Miscellaneous

 

Section 8.1           Reinstatement.
Each Grantor agrees that, if any payment made by any Loan Party or other Person and applied to the Secured Obligations is at any
time annulled, avoided, set aside, rescinded, invalidated, declared to be fraudulent or preferential or otherwise required to be
refunded or repaid, or the proceeds of any Collateral are required to be returned by any Secured Party to such Loan Party, its
estate, trustee, receiver or any other party, including any Grantor, under any bankruptcy law, state or federal law, common law
or equitable cause, then, to the extent of such payment or repayment, any Lien or other Collateral securing such liability shall
be and remain in full force and effect, as fully as if such payment had never been made. If, prior to any of the foregoing, (a)
any Lien or other Collateral securing such Grantor’s liability hereunder shall have been released or terminated by virtue
of the foregoing or (b) any provision of the Guaranty hereunder shall have been terminated, cancelled or surrendered, such Lien,
other Collateral or provision shall be reinstated in full force and effect and such prior release, termination, cancellation or
surrender shall not diminish, release, discharge, impair or otherwise affect the obligations of any such Grantor in respect of
any Lien or other Collateral securing such obligation or the amount of such payment.

 

    	24

    	 

    

 

Section 8.2           Release
of Collateral. (a) At the time provided in clause (iii) of Section 10.9 (Release of Collateral or
Guarantors) of the Credit Agreement, the Collateral shall be released from the Lien created hereby and this Agreement and all
obligations (other than those expressly stated to survive such termination) of the Collateral Agent and each Grantor hereunder
shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral
shall revert to the Grantors. Each Grantor is hereby authorized to file UCC amendments at such time evidencing the termination
of the Liens so released. At the request of any Grantor following any such termination, the Collateral Agent shall deliver to such
Grantor any Collateral of such Grantor held by the Collateral Agent hereunder and execute and deliver to such Grantor such documents
as such Grantor shall reasonably request to evidence such termination.

 

(b)          If
the Collateral Agent shall be directed or permitted pursuant to clause (i) or (ii) of Section 10.9
of the Credit Agreement to release any Lien or any Collateral, such Collateral shall be released from the Lien created hereby to
the extent provided under, and subject to the terms and conditions set forth in, such clauses (i) and (ii). In connection
therewith, the Collateral Agent, at the request of any Grantor, shall execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence such release.

 

Section 8.3           Independent
Obligations. The obligations of each Grantor hereunder are independent of and separate from the Secured Obligations and the
Guaranteed Obligations. If any Secured Obligation or Guaranteed Obligation is not paid when due, or upon any Event of Default,
the Collateral Agent may, at its sole election, proceed directly and at once, without notice, against any Grantor and any Collateral
to collect and recover the full amount of any Secured Obligation or Guaranteed Obligation then due, without first proceeding against
any other Grantor, any other Loan Party or any other Collateral and without first joining any other Grantor or any other Loan Party
in any proceeding.

 

Section 8.4           No
Waiver by Course of Conduct. No Secured Party shall by any act (except by a written instrument pursuant to Section 8.5),
delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default
or Event of Default. No failure to exercise, nor any delay in exercising, on the part of any Secured Party, any right, power or
privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder
shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by any Secured
Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy that such Secured
Party would otherwise have on any future occasion.

 

Section 8.5           Amendments
in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except
in accordance with Section 11.1 of the Credit Agreement; provided, that schedules to this Agreement may be supplemented
(but no existing provisions may be modified and no Collateral may be released) in accordance with Section 5.6 and 5.8
and through Pledge Amendments and Joinder Agreements, in substantially the form of Annex 1 and Annex 2,
respectively, in accordance with Section 8.6 hereof.

 

Section 8.6           Additional
Grantors; Additional Pledged Collateral. (a) Joinder Agreements. If, at the option of the Borrower or as required pursuant
to Section 7.10 of the Credit Agreement, the Borrower shall cause any Subsidiary that is not a Grantor to become a
Grantor hereunder, such Subsidiary shall execute and deliver to the Collateral Agent a joinder agreement substantially in the form
of Annex 2 (each, a “Joinder Agreement”) and shall thereafter for all purposes be a party hereto
and have the same rights, benefits and obligations as a Grantor party hereto on the Closing Date.

 

    	25

    	 

    

 

(b)          Pledge
Amendments. To the extent any Pledged Collateral has not been delivered as of the Closing Date, such Grantor shall deliver
a pledge amendment duly executed by the Grantor in substantially the form of Annex 1 (each, a “Pledge Amendment”).
Such Grantor authorizes the Collateral Agent to attach each Pledge Amendment to this Agreement.

 

Section 8.7           Notices.
All notices, requests and demands to or upon the Collateral Agent or any Grantor hereunder shall be effected in the manner provided
for in Section 11.11 of the Credit Agreement; provided, that any such notice, request or demand to or upon any
Grantor shall be addressed to the Borrower’s notice address set forth in such Section 11.11.

 

Section 8.8           Successors
and Assigns. This Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the benefit
of each Secured Party and their successors and assigns; provided, that no Grantor may assign, transfer or delegate any of
its rights or obligations under this Agreement without the prior written consent of the Administrative Agent and the Collateral
Agent and in accordance with the terms of the Credit Agreement.

 

Section 8.9           Counterparts.
This Agreement may be executed in any number of counterparts and by different parties 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. Signature
pages may be detached from multiple separate counterparts and attached to a single counterpart. Delivery of an executed signature
page of this Agreement by facsimile transmission or by Electronic Transmission shall be as effective as delivery of a manually
executed counterpart hereof.

 

Section 8.10         Severability.
Any provision of this Agreement being held illegal, invalid or unenforceable in any jurisdiction shall not affect any part of
such provision not held illegal, invalid or unenforceable, any other provision of this Agreement or any part of such provision
in any other jurisdiction.

 

Section 8.11         Governing
Law. This Agreement and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted
in accordance with, the law of the State of New York.

 

Section 8.12         Waiver
of Jury Trial. Each party hereto hereby irrevocably waives trial by jury in any suit, action or proceeding with respect to,
or directly or indirectly arising out of, under or in connection with, any loan document or the transactions contemplated therein
or related thereto (whether founded in contract, tort or any other theory). Each party hereto (A) certifies that no other party
and no Related Person of any other party has represented, expressly or otherwise, that such other party would not, in the event
of litigation, seek to enforce the foregoing waiver and (B) acknowledges that it and the other parties hereto have been induced
to enter into this agreement by the mutual waivers and certifications in this Section 8.12.

 

    	26

    	 

    

 

Section 8.13         Indemnities.
(a) THE BORROWER AGREES TO INDEMNIFY, HOLD HARMLESS AND DEFEND EACH AGENT, THE ARRANGERS, EACH LENDER, EACH L/C ISSUER, EACH FORMER
LENDER OR L/C ISSUER PARTY TO A SECURED HEDGING DOCUMENT, EACH PERSON THAT EACH L/C ISSUER CAUSES TO ISSUE LETTERS OF CREDIT UNDER
THE CREDIT AGREEMENT AND EACH OF THEIR RESPECTIVE RELATED PERSONS (EACH SUCH PERSON BEING AN “INDEMNITEE”) FROM AND
AGAINST ALL LIABILITIES (INCLUDING BROKERAGE COMMISSIONS, FEES AND OTHER COMPENSATION) THAT MAY BE IMPOSED ON, INCURRED BY OR ASSERTED
AGAINST ANY SUCH INDEMNITEE AND IN ANY MATTER RELATING TO OR ARISING OUT OF, IN CONNECTION WITH OR AS A RESULT OF (I) ANY LOAN
DOCUMENT, ANY DISCLOSURE DOCUMENT, OR ANY OBLIGATION (OR THE REPAYMENT THEREOF), ANY LETTER OF CREDIT, THE USE OR INTENDED USE
OF THE PROCEEDS OF ANY LOAN OR THE USE OF ANY LETTER OF CREDIT, OR ANY SECURITIES FILING OF, OR WITH RESPECT TO, ANY GROUP MEMBER,
(II) ANY COMMITMENT LETTER, PROPOSAL LETTER OR TERM SHEET WITH ANY PERSON OR ANY CONTRACTUAL OBLIGATION, SYNDICATION OF THE CREDIT
FACILITIES PROVIDED BY THE CREDIT AGREEMENT, ANY ENFORCEMENT OF ANY LOAN DOCUMENTS (INCLUDING ANY SALES OF, COLLECTION FROM, OR
OTHER REALIZATION UPON ANY OF THE COLLATERAL OR THE ENFORCEMENT OF ANY GUARANTY) ARRANGEMENT OR UNDERSTANDING WITH ANY BROKER,
FINDER OR CONSULTANT, IN EACH CASE ENTERED INTO BY OR ON BEHALF OF ANY GROUP MEMBER OR ANY AFFILIATE OF ANY OF THEM IN CONNECTION
WITH ANY OF THE FOREGOING AND ANY CONTRACTUAL OBLIGATION ENTERED INTO IN CONNECTION WITH ANY E-SYSTEMS OR OTHER ELECTRONIC TRANSMISSIONS,
(III) ANY ACTUAL OR PROSPECTIVE INVESTIGATION, LITIGATION OR OTHER PROCEEDING, WHETHER OR NOT BROUGHT BY ANY SUCH INDEMNITEE OR
ANY OF ITS RELATED PERSONS, ANY HOLDERS OF SECURITIES OR CREDITORS (AND INCLUDING ATTORNEYS’ FEES IN ANY CASE), WHETHER OR
NOT ANY SUCH INDEMNITEE, RELATED PERSON, HOLDER OR CREDITOR IS A PARTY THERETO, AND WHETHER OR NOT BASED ON ANY SECURITIES OR COMMERCIAL
LAW OR REGULATION OR ANY OTHER REQUIREMENT OF LAW OR THEORY THEREOF, INCLUDING COMMON LAW, EQUITY, CONTRACT, TORT OR OTHERWISE,
OR (IV) ANY OTHER ACT, EVENT OR TRANSACTION RELATED, CONTEMPLATED IN OR ATTENDANT TO ANY OF THE FOREGOING (COLLECTIVELY, THE “INDEMNIFIED
MATTERS”); PROVIDED, THAT THE BORROWER SHALL NOT HAVE ANY LIABILITY UNDER THIS SECTION 8.13 TO AN INDEMNITEE WITH RESPECT
TO, AND NO INDEMNITEE SHALL HAVE ANY LIABILITY HEREUNDER OTHER THAN (TO THE EXTENT OTHERWISE LIABLE) FOR, ANY INDEMNIFIED MATTER
TO THE EXTENT SUCH LIABILITY HAS RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE, AS DETERMINED BY
A COURT OF COMPETENT JURISDICTION IN A FINAL NON-APPEALABLE JUDGMENT OR ORDER. THE FOREGOING INDEMNIFICATION SHALL APPLY WHETHER
OR NOT SUCH INDEMNIFIED LIABILITIES ARE IN ANY WAY OR TO ANY EXTENT OWED, IN WHOLE OR IN PART, UNDER ANY CLAIM OR THEORY OF STRICT
LIABILITY, OR ARE CAUSED, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF ANY INDEMNITEE. FURTHERMORE,
EACH OF PARENT AND THE BORROWER WAIVES AND AGREES NOT TO ASSERT AGAINST ANY INDEMNITEE, AND SHALL CAUSE EACH OTHER LOAN PARTY TO
WAIVE AND NOT ASSERT AGAINST ANY INDEMNITEE, ANY RIGHT OF CONTRIBUTION WITH RESPECT TO ANY LIABILITIES THAT MAY BE IMPOSED ON,
INCURRED BY, OR ASSERTED AGAINST ANY RELATED PERSON. 

 

    	27

    	 

    

 

(b)          Without
limiting the foregoing, “Indemnified Matters” includes all Environmental Liabilities, including those arising from,
or otherwise involving, any property of any Group Member or any actual, alleged or prospective damage to property or natural resources
or harm or injury alleged to have resulted from any Release of Hazardous Materials on, upon or into such property or natural resource
or any property on or contiguous to any real property of any Group Member, whether or not, with respect to any such Environmental
Liabilities, any Indemnitee is a mortgagee in possession, the successor-in-interest to any Group Member or the owner, lessee or
operator of any property or facility of any Group Member through any foreclosure action, in each case except to the extent such
Environmental Liabilities (i) are incurred solely following foreclosure by any Secured Party or following any Secured Party having
become the successor-in-interest to any Loan Party and (ii) are attributable solely to acts of such Indemnitee.

 

[Signature
Pages Follow]

 

    	28

    	 

    

 

In
witness whereof, each of the undersigned has caused this Guaranty and Security Agreement to be duly executed and delivered
as of the date first above written.

 

	 	francesca’s collections, inc.,
	 	 	as Grantor
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	francesca’s LLC, 
	 	 	as Grantor
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Guaranty and Security Agreement]

 

    	 

    	 

    

 

	ROYAL BANK OF CANADA,	 
	 	as Collateral Agent and Administrative Agent	 
	 	 	 
	By:	 	 
	 	Name:  	 
	 	Title:	 

 

[Signature
Page to Guaranty and Security Agreement]

 

    	 

    	 

    

 

ANNEX 1

TO

GUARANTY AND
SECURITY AGREEMENT1

 

Form of Pledge
Amendment

 

This Pledge
Amendment, dated as of __________ __, 20__, is delivered pursuant to Section 8.6 of the Guaranty and Security
Agreement, dated as of November 17, 2010, by and among Francesca’s Collections, Inc. (the “Borrower”),
the undersigned Grantor and the other Affiliates of the Borrower from time to time party thereto as Grantors, Royal Bank of Canada,
as administrative agent, and Royal Bank of Canada, as collateral agent for the Secured Parties referred to therein (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Guaranty and Security Agreement”).
Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement.

 

The undersigned hereby
agrees that this Pledge Amendment may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed
on Annex 1-A to this Pledge Amendment shall be and become part of the Collateral referred to in the Guaranty and Security
Agreement and shall secure all of the Obligations of the undersigned.

 

The undersigned hereby
represents and warrants that each of the representations and warranties contained in Sections 4.1, 4.2, 4.5
and 4.10 of the Guaranty and Security Agreement is true and correct on and as of the date hereof as if made on and as of
such date.

 

	 	[Grantor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Acknowledged and Agreed	 
	as of the date first above written:	 
	 	 
	ROYAL BANK OF CANADA,	 
	 	as Collateral Agent and Administrative Agent	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

To be used for pledge of Additional
Pledged Collateral by existing Grantor.

 

    	A1-1

    	 

    

 

Annex 1-A

 

 

PLEDGED STOCK

  

	
        Issuer
	
	
        Class
	
	
        Certificate

        No(s).
	
	
        Par Value
	
	
        Number of

        Shares, Units or

        Interests

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

PLEDGED DEBT INSTRUMENTS 

 

	
        Issuer
	
	
        Description of Debt
	
	
        Certificate

        No(s).
	
	
        Final

        Maturity
	
	
        Principal Amount

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

    	A1-2

    	 

    

 

ANNEX 2

TO

GUARANTY AND
SECURITY AGREEMENT

 

Form of Joinder
Agreement

 

This Joinder
Agreement, dated as of _________ __, 20__, is delivered pursuant to Section 8.6 of the Guaranty and Security
Agreement, dated as of November 17, 2010, by and among Francesca’s Collections, Inc. (the “Borrower”),
the undersigned Grantor and the other Affiliates of the Borrower from time to time party thereto as Grantors, Royal Bank of Canada,
as administrative agent, and Royal Bank of Canada, as collateral agent for the Secured Parties referred to therein (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Guaranty and Security Agreement”).
Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement.

 

By executing and delivering
this Joinder Agreement, the undersigned, as provided in Section 8.6 of the Guaranty and Security Agreement, hereby
becomes a party to the Guaranty and Security Agreement as a Grantor thereunder with the same force and effect as if originally
named as a Grantor therein and, without limiting the generality of the foregoing, the undersigned (i) as collateral security for
the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Secured
Obligations of the undersigned, hereby mortgages, pledges and hypothecates to the Collateral Agent for the benefit of the Secured
Parties, and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in, all of its
right, title and interest in, to and under the Collateral of the undersigned and expressly assumes all obligations and liabilities
of a Grantor thereunder and (ii) hereby unconditionally and irrevocably guarantees, as primary obligor and not merely as surety,
the full and punctual payment when due, whether at stated maturity or earlier, by reason of acceleration, mandatory prepayment
or otherwise in accordance with any Loan Document, of all the Guaranteed Obligations on the terms set forth in the Guaranty and
Security Agreement. The undersigned hereby agrees to be bound as a Grantor for the purposes of the Guaranty and Security Agreement.

 

The information set forth
in Annex A to this Joinder Agreement is hereby added to the information set forth in Schedules 1 through 6
to the Guaranty and Security Agreement. By acknowledging and agreeing to this Joinder Agreement, the undersigned hereby agree that
this Joinder Agreement may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed on Annex A
to this Joinder Amendment shall be and become part of the Collateral referred to in the Guaranty and Security Agreement and shall
secure all Secured Obligations of the undersigned.

 

The undersigned hereby
represents and warrants that each of the representations and warranties contained in Article IV of the Guaranty and
Security Agreement applicable to it is true and correct on and as of the date hereof as if made on and as of such date.

 

In
witness whereof, the undersigned has caused this Joinder Agreement to be duly executed and delivered as of the date first
above written.

 

	 	[Additional Grantor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	A2-1

    	 

    

 

	Acknowledged and Agreed	 
	as of the date first above written:	 
	 	 
	[EACH GRANTOR PLEDGING 	 
	ADDITIONAL COLLATERAL]	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	ROYAL BANK OF CANADA,	 
	 	as Collateral Agent and Administrative Agent	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	A2-2

    	 

    

 

ANNEX 3

TO

GUARANTY AND SECURITY AGREEMENT

Form of Intellectual
Property Security Agreement

 

THIS
[Copyright] [Patent] [Trademark] Security Agreement, dated as of _________ __, 20__, is entered into by and among each of
the entities listed on the signature pages hereof (each a “Grantor” and, collectively, the “Grantors”),
Royal Bank of Canada, as administrative agent (“Administrative Agent”), and Royal Bank of Canada, as collateral
agent (in such capacity, together with its successors and permitted assigns, the “Collateral Agent”) for the
Lenders, the L/C Issuer and each other Secured Party (as defined in the Credit Agreement referred to below).

 

WITNESSETH:

 

Whereas,
pursuant to the Credit Agreement, dated as of November 17, 2010 (as the same may be amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Parent, the other Guarantors
from time to time party thereto, the Lenders from time to time party thereto, the Collateral Agent and the other parties thereto,
the Lenders and the L/C Issuer have severally agreed to make extensions of credit to the Borrower upon the terms and subject to
the conditions set forth therein;

 

Whereas,
each undersigned Grantor has agreed, pursuant to the Guaranty and Security Agreement, dated as of November 17, 2010, by and among
the Borrower, the undersigned Grantor(s) and the other Affiliates of the Borrower from time to time party thereto as grantors,
Administrative Agent and Collateral Agent (the “Guaranty and Security Agreement”), to guarantee the Obligations
(as defined in the Credit Agreement) of the Borrower; and

 

Whereas,
all of the Grantors are party to the Guaranty and Security Agreement pursuant to which the Grantors are required to execute and
deliver this [Copyright] [Patent] [Trademark] Security Agreement;

 

Now,
Therefore, in consideration of the premises and to induce the Lenders, the L/C Issuer, the Administrative Agent and the
Collateral Agent to enter into the Credit Agreement and to induce the Lenders and the L/C Issuer to make their respective extensions
of credit to the Borrower thereunder, each Grantor hereby agrees with the Collateral Agent as follows:

 

Section 1.          Defined
Terms. Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement.

 

Section 2.          Grant
of Security Interest in [Copyright] [Trademark] [Patent] Collateral. Each Grantor, as collateral security for the prompt and
complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations
of such Grantor, hereby mortgages, pledges and hypothecates to the Collateral Agent for the benefit of the Secured Parties, and
grants to the Collateral Agent for the benefit of the Secured Parties a Lien on and security interest in, all of its right, title
and interest in, to and under the following Collateral of such Grantor (the “[Copyright] [Patent] [Trademark] Collateral”):

 

(a)       [all
of its Copyrights and all IP Licenses providing for the grant by or to such Grantor of any right under any Copyright, including,
without limitation, those Copyright registrations, applications for registration and IP Licenses referred to on Schedule 1
hereto;

 

(b)      all
renewals, reversions and extensions of the foregoing; and

 

    	A3-1

    	 

    

 

(c)       all
income, royalties, proceeds and Liabilities at any time due or payable or asserted under and with respect to any of the foregoing,
including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement,
misappropriation, dilution, violation or other impairment thereof.]

 

or

 

(a)       [all
of its Patents and all IP Licenses providing for the grant by or to such Grantor of any right under any Patent, including, without
limitation, those referred to on Schedule 1 hereto;

 

(b)       all
reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of the foregoing; and

 

(c)       all
income, royalties, proceeds and Liabilities at any time due or payable or asserted under and with respect to any of the foregoing,
including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement,
misappropriation, dilution, violation or other impairment thereof.]

 

or

 

(d)       [all
of its Trademarks and all IP Licenses providing for the grant by or to such Grantor of any right under any Trademark, including,
without limitation, those Trademark registrations, applications for registration and IP Licenses referred to on Schedule 1
hereto;

 

(e)       all
renewals and extensions of the foregoing;

 

(f)        all
goodwill of the business connected with the use of, and symbolized by, each such Trademark; and

 

(g)       all
income, royalties, proceeds and Liabilities at any time due or payable or asserted under and with respect to any of the foregoing,
including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement,
misappropriation, dilution, violation or other impairment thereof.]

 

Section 3.          Guaranty
and Security Agreement. The security interest granted pursuant to this [Copyright] [Patent] [Trademark] Security Agreement
is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Guaranty and Security Agreement
and each Grantor hereby acknowledges and agrees that the rights and remedies of the Collateral Agent with respect to the security
interest in the [Copyright] [Patent] [Trademark] Collateral made and granted hereby are more fully set forth in the Guaranty and
Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein.

 

Section 4.         Grantor
Remains Liable. Each Grantor hereby agrees that, anything herein to the contrary notwithstanding, such Grantor shall assume
full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in connection
with their [Copyrights] [Patents] [Trademarks] and IP Licenses subject to a security interest hereunder.

 

Section 5.          Counterparts.
This [Copyright] [Patent] [Trademark] Security Agreement may be executed in any number of counterparts and by different parties
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. Signature pages may be detached from multiple separate counterparts and attached to a single
counterpart.

 

    	A3-2

    	 

    

 

Section 6.          Governing
Law. This [Copyright] [Patent] [Trademark] Security Agreement and the rights and obligations of the parties hereto shall be
governed by, and construed and interpreted in accordance with, the law of the State of New York.

 

[Signature
Pages Follow]

 

    	A3-3

    	 

    

 

In
witness whereof, each Grantor has caused this [Copyright] [Patent] [Trademark] Security Agreement to be executed and delivered
by its duly authorized officer as of the date first set forth above.

 

	 	Very truly yours,
	 	 
	 	[Grantor],
	 	 	as Grantor
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Royal Bank of Canada, 	 
	 	as Collateral Agent and Administrative Agent	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

[SIGNATURE PAGE TO [COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT]

  

    	A3-4

    	 

    

 

Schedule I

to

[Copyright] [Patent] [Trademark] Security Agreement

 

[Copyright] [Patent] [Trademark] Registrations

 

REGISTERED [COPYRIGHTS] [PATENTS]
[TRADEMARKS]

 

[Include Registration Number
and Date]

 

[COPYRIGHT] [PATENT] [TRADEMARK]
APPLICATIONS

 

[Include Application Number and
Date]

 

IP LICENSES

 

[Include complete legal description
of agreement (name of agreement, parties and date)]

 

    	A3-5

    	 

    

  

EXHIBIT
1.1(4)

 

[FORM OF]

 PERFECTION CERTIFICATE

  

In connection with that certain Credit Agreement,
dated as of November 17, 2010 (as it may be amended, amended and restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein
defined), by and among Francesca’s Collections, Inc., as borrower (the “Borrower”), Francesca’s
LLC, the other Guarantors from time to time party thereto, the Lenders from time party thereto, the L/C Issuer, Royal Bank of Canada
as Administrative Agent, Royal Bank of Canada as Collateral Agent for the Secured Parties, and the other parties party thereto,
the Borrower hereby certifies on behalf of itself and the Guarantors as follows:

 

I.           CURRENT
INFORMATION

 

A.           Legal
Names, Organizations, Jurisdictions of Organization and Organizational Identification Numbers. The full and exact legal
name1 (as it appears in each respective certificate
or articles of incorporation, limited liability membership agreement or similar organizational documents, in each case as amended
to date), the type of organization (or if the Borrower or a particular Guarantor is an individual, please indicate so), the jurisdiction
of organization (or formation, as applicable), and the organizational identification number2
(not tax i.d. number) of the Borrower and each other Guarantor are as follows:

 

	Name of Borrower/Guarantor	 	Type of Organization (e.g.

corporation, limited

liability company, limited

partnership)	 	Jurisdiction of

Organization/

Formation	 	Organizational

Identification

Number3
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	 

    	 

    

 

B.           Chief
Executive Offices and Mailing Addresses. The chief executive office address (or the principal residence if the Borrower
or a particular Guarantor is a natural person) and the preferred mailing address (if different than chief executive office or residence)
of the Borrower and each other Guarantor are as follows:

 

	Name of

Borrower/Guarantor	 	Address of Chief Executive Office

(or for natural persons, residence)	 	Mailing Address (if different than

CEO or residence)
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

C.           Special
Borrowers. Except as specifically identified below none of the Guarantors is a: (i) transmitting utility (as defined in
Section 9-102(a)(80)), (ii) primarily engaged in farming operations (as defined in Section 9-102(a)(35)), (iii) a trust, (iv) a
foreign air carrier within the meaning of the federal aviation act of 1958, as amended or (v) a branch or agency of a bank which
bank is not organized under the law of the United States or any state thereof.

 

	Name of

Borrower/Guarantor	 	Type of Special Guarantor
	 	 	 
	 	 	 
	 	 	 

 

D.           Trade
Names/Assumed Names.

 

Current Trade Names. Set forth below
is each trade name or assumed name currently used by the Borrower or any other Guarantor or by which the Borrower or any Guarantor
is known or is transacting any business:

 

	Borrower/Guarantor	 	Trade/Assumed Name
	 	 	 
	 	 	 
	 	 	 

 

    	 

    	 

    

 

E.           Changes
in Names, Jurisdiction of Organization or Corporate Structure. 

 

Except as set forth below, neither the Borrower
nor any other Guarantor has changed its name, jurisdiction of organization or its corporate structure in any way (e.g. by merger,
consolidation, change in corporate form, change in jurisdiction of organization or otherwise) within the past five (5) years:

 

	Borrower/Guarantor	 	Date of Change	 	Description of Change
	 	 	 	 	 
	 	 	 	 	 

 

F.           Prior
Addresses.

 

Except as set forth below, neither the Borrower
nor any other Guarantor has changed its chief executive office, or principal residence if the Borrower or a particular Guarantor
is a natural person, within the past five (5) years:

 

	Borrower/Guarantor	 	Prior Address/City/State/Zip Code
	 	 	 
	 	 	 

 

G.           Acquisitions
of Equity Interests or Assets. 

 

Except as set forth below, neither the Borrower
nor any Guarantor has acquired the equity interests of another entity or substantially all the assets of another entity within
the past five (5) years:

 

	Borrower/Guarantor	 	Date of Acquisition	 	Description of Acquisition
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

H.           Corporate
Ownership and Organizational Structure.

 

Attached as Exhibit H hereto is a true and
correct chart showing the ownership relationship of the Borrower and all of its affiliates.

 

    	 

    	 

    

 

II.          INFORMATION
REGARDING CERTAIN COLLATERAL

 

A.           Investment
Related Property

 

1.          Equity
Interests. Set forth below is a list of all equity interests owned by the Borrower and each Guarantor together with the
type of organization which issued such equity interests (e.g. corporation, limited liability company, partnership or trust):

 

	Borrower/Guarantor	 	Issuer	 	Type of

Organization	 	# of

Shares

Owned	 	Total Shares

Outstanding	 	% of

Interest

Pledged	 	Certificate
No.

(if uncertificated,

please indicate so)	 	Par Value
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

2.          Securities Accounts.
Set forth below is a list of all securities accounts in which the Borrower or any other Guarantor customarily maintains securities
or other assets having an aggregate value in excess of $10,000:

 

	Borrower/Guarantor	 	Type of Account	 	Name
    & Address of

Financial Institutions
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 		 	 	 

 

    	 

    	 

    

 

3.          Deposit Accounts.
Set forth below is a list of all bank accounts (checking, savings, money market or the like) in which the Borrower or any other
Guarantor customarily maintains in excess of $10,000:

 

	Borrower/Guarantor	 	Type of Account	 	Name & Address of 

Financial Institutions
	 	 	 	 	 
	 		 	 	 

 

4.          Debt Securities &
Instruments. Set forth below is a list of all debt securities and instruments owed to the Borrower or any other Guarantor
in the principal amount of greater than $10,000:

 

	Borrower/Guarantor	 	Issuer of Instrument	 	Principal Amount of Instrument	 	Maturity Date
	 	 	 	 	 	 	 
	 		 		 	 	 

 

B.           Intellectual
Property. Set forth below is a list of all copyrights, patents,
and trademark, all applications and licenses thereof and other intellectual property owned or used, or hereafter adopted, held
or used, by the Borrower and each other Guarantor:

 

1.          Copyrights,
Copyright Applications and Copyright Licenses

 

	Borrower/Guarantor	 	Title	 	Filing Date/Issued Date	 	Status	 	Application/

Registration No.
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

2.          Patents,
Patent Applications and Patent Licenses

 

	Borrower/Guarantor	 	Title	 	Filing Date/Issued Date	 	Status	 	Application/

Registration No.
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	 

    	 

    

 

3.          Trademarks,
Trademark Applications and Trademark Licenses

 

	Borrower/Guarantor	 	Title	 	Filing Date/Issued Date	 	Status	 	Application/

Registration No.
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

C.           Tangible
Personal Property in Possession of Warehousemen, Bailees and Other Third Parties. Except as set forth below, no persons
(including, without limitation, warehousemen and bailees) other than the Borrower or any other Guarantor have possession of any
material amount (fair market value of $10,000 or more) of tangible personal property of the Borrower or any other Guarantor:

 

	Borrower/Guarantor	 	Address/City/State/Zip Code	 	County	 	Description of

Assets and Value
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

D.           Tangible
Personal Property in Former Article 9 Jurisdictions and Canada. Set forth below are all the locations within the
Commonwealth of Puerto Rico and any Province of Canada where the Borrower or any other Guarantor currently maintains or has maintained
any material amount (fair market value of $10,000 or more) of its tangible personal property (including goods, inventory and equipment)
of such Borrower or any other Guarantor (whether or not in the possession of such Borrower or any other Guarantor) within the past
five (5) years:

 

	Borrower/Guarantor	 	Address/City/Province or

Commonwealth
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

E.           Real
Estate Related UCC Collateral

 

1.           Fixtures.
Set forth below are all the locations where the Borrower or any other Guarantor owns or leases any real property:

 

	Borrower/Guarantor	 	Address/City/State/Zip Code	 	County	 	Owned or

Leased
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	 

    	 

    

 

2.          “As Extracted”
Collateral. Set forth below are all the locations where the Borrower or any other Guarantor owns, leases or has an interest
in any wellhead or minehead:

 

	Borrower/Guarantor	 	Address/City/State/Zip Code	 	County
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

3.          Timber to be Cut.
Set forth below are all locations where the Borrower or any other Guarantor owns goods that are timber to be cut:

 

	Borrower/Guarantor	 	Address/City/State/Zip Code	 	County
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 

    	 

    

 

III.         AUTHORITY
TO FILE FINANCING STATEMENTS

 

The undersigned, on behalf of the Borrower
and each Guarantor, hereby authorizes the Collateral Agent to file financing or continuation statements, and amendments
thereto, in all jurisdictions and with all filing offices as the Collateral Agent may determine, in its sole discretion, are necessary
or advisable to perfect the security interest granted or to be granted to the Collateral Agent under the Guaranty and Security
Agreement. Such financing statements may describe the collateral in the same manner as described in the Guaranty and Security Agreement
or may contain an indication or description of collateral that describes such property in any other manner as the Collateral Agent
may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in
the collateral granted to the Collateral Agent, including, without limitation, describing such property as “all assets”
or “all personal property.”

 

IN WITNESS WHEREOF, the
undersigned hereto has caused this Perfection Certificate to be executed as of this ___ day of ____________, 20__ by its
officer thereunto duly authorized.

 

	 	FRANCESCA’S COLLECTIONS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	FRANCESCA’S LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 

    	 

    

 

End Notes

 
 1.             It
is crucial that the full and exact name of each Grantor is given. Even seemingly minor errors such as substituting “n.a.”
for “national association” or “inc.” for “incorporated” may be seriously misleading in some
states.

 

2.             Please
note that the organizational identification number is not the same as the federal employer’s tax identification number. The
organizational identification number is customarily issued by the Secretary of State or State Corporations Department in the State
under which the particular entity had been organized or formed and may be found on its organizational documents.

 

3.             If
a Grantor does not have an organizational identification number, please indicate “none.” Additionally, organizational
identification numbers are not required for entities organized under the laws of New York, Delaware, Connecticut, Georgia or Ohio
for financing statements filed in such states. Such organizational identification numbers nevertheless may be required for financing
statements filed in respect of entities organized under the foregoing states but filed in other states, e.g. in respect of fixtures.

 

    	 

    	 

    

  

EXHIBIT 2.2(a)

 

[FORM OF]

NOTICE OF BORROWING

 

Royal Bank of Canada,

as Administrative Agent for

the Lenders referred to below

200 Bay Street, 12th Floor

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J2W7

Attention: Manager, Agency

 

[Date]1

 

Ladies and Gentlemen:

 

Reference is made to
the Second Amended and Restated Credit Agreement, dated as of August 30, 2013 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Francesca’s Collections, Inc., as
borrower (the “Borrower”), Francesca’s LLC, the other Guarantors from time to time party thereto, the
Lenders from time to time party thereto, the L/C Issuer, Royal Bank of Canada, as Administrative Agent, Royal Bank of Canada, as
Collateral Agent for the Secured Parties, and the other parties party thereto. Capitalized terms used but not defined herein shall
have the meanings assigned to such terms in the Credit Agreement.

 

The Borrower hereby gives
you notice pursuant to Section 2.2 of the Credit Agreement that it requests a Borrowing under the Credit Agreement,
and in that connection sets forth below the terms on which such Borrowing is requested to be made:

 

	(A)	Date of Borrowing 

(which is a Business Day):	 
	 	 	 
	(B)	Principal Amount of Borrowing:	 
	 	 	 
	(C)	Type of Borrowing2:	 
	 	 	 
	(D)	Interest Period and the last day thereof3 

(in the case of a Eurodollar Borrowing):	 
	 	 	 
	(E)	Account Number and Location:	 

 

	

 

		1	Notice must be received prior to (i) 12:00 p.m. on the Business Day prior to the date of the proposed
Borrowing, in the case of a Borrowing of Base Rate Loans and (ii) 12:00 p.m. on the third Business Day prior to the date of the
proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans.

		2	Specify a Eurodollar Rate Borrowing or a Base Rate Borrowing.

		3	Subject to the definition of “Interest Period” in the Credit Agreement.

 

    	1

    	 

    

 

The Borrower hereby
represents and warrants that the conditions to lending specified in Sections 3.2(b) and (c) of the Credit Agreement
are satisfied as of the date hereof.

 

[Signature page follows]

 

    	2

    	 

    

 

	 	FRANCESCA’S COLLECTIONS, INC.
	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:

 

    	3

    	 

    

 

EXHIBIT 2.4(b)

 

[FORM OF]

L/C REQUEST

 

Royal Bank of Canada,

as Administrative Agent for

the Lenders referred to below

200 Bay Street, 12th Floor

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J2W7

Attention: Manager, Agency

 

KeyBank National Association,

as L/C Issuer

127 Public Square

Cleveland, OH 44114

Attention: [____________]

 

[Date]26

 

Ladies and Gentlemen:

 

Reference is made to the Second Amended
and Restated Credit Agreement, dated as of August 30, 2013 (as amended, amended and restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among Francesca’s Collections, Inc., as borrower (the “Borrower”),
Francesca’s LLC, the other Guarantors from time to time party thereto, the Lenders from time to time party thereto, the L/C
Issuer, Royal Bank of Canada, as Administrative Agent, Royal Bank of Canada, as Collateral Agent for the Secured Parties, and the
other parties party thereto. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the
Credit Agreement.

 

Pursuant to Section 2.4 of the Credit
Agreement, the Borrower hereby requests that [__________], as L/C Issuer, issue a Letter of Credit for the account of the undersigned,
as follows:

 

	(A)	Date of Issuance:	 
	 	 	 
	(B)	Aggregate Amount of Letter of Credit:	 
	 	 	 
	(C)	Beneficiary:27	 
	 	 	 
	(D)	Supported Transaction:28	 
	 	 	 
	(E)	Stated Termination Date:	 

  

	

 

		26	Notice must be received no later than 12:00 p.m. on the third Business Day prior to the date of
the requested Issuance.

		27	Insert name and address of beneficiary.

		28	Insert description of obligation or commercial transaction to which Letter of Credit relates and
include description of the documents to be presented by such beneficiary in case of any drawing thereunder and the full text of
any certificate to be presented by such beneficiary in case of any drawing thereunder.

 

    	 

    	 

    

 

The Borrower hereby
represents and warrants that the conditions to Issuance specified in Sections 3.2(b) and (c) of the Credit Agreement
are satisfied as of the date hereof.

  

[Signature page follows]

 

    	 

    	 

    

 

	 	Very truly yours,
	 	 
	 	FRANCESCA’S COLLECTIONS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 

    	 

    

 

EXHIBIT 2.10(b)

 

[FORM OF]

NOTICE OF CONVERSION OR CONTINUATION

 

Royal Bank of Canada,

as Administrative Agent for

the Lenders referred to below

200 Bay Street, 12th Floor

South Tower, Royal Bank Plaza

Toronto, Ontario

M5J2W7

Attention: Manager, Agency

 

[Date]1

 

Ladies and Gentlemen:

 

Reference is made to
the Second Amended and Restated Credit Agreement, dated as of August 30, 2013 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Francesca’s Collections, Inc., as
borrower (the “Borrower”), Francesca’s LLC, the other Guarantors from time to time party thereto, the
Lenders from time to time party thereto, the L/C Issuer, Royal Bank of Canada, as Administrative Agent, Royal Bank of Canada, as
Collateral Agent for the Secured Parties, and the other parties party thereto. Capitalized terms used but not defined herein shall
have the meanings assigned to such terms in the Credit Agreement.

 

The Borrower hereby gives
you notice pursuant to Section 2.10 of the Credit Agreement that it elects to (a) continue a Eurodollar Rate Loan or
a portion thereof under the Credit Agreement; (b) convert a Eurodollar Rate Loan or a portion thereof into a Base Rate Loan; or
(c) convert a Base Rate Loans or a portion thereof into Eurodollar Rate Loans, and in that connection sets forth below the terms
on which such conversion or continuation is requested to be made:

 

	(A)	Date of proposed conversion or continuation 

(which is a Business Day):	 
	 	 	 
	(B)	Aggregate amount of Eurodollar Loans or Base Rate Loans to be converted or continued2:	 
	 	 	 
	(C)	Nature of the proposed conversion or continuation (including identification of Loans to be converted or continued) :	 
	 	 	 
	(E)	Interest Period and the last day thereof3 

(if the Loans are to be converted into or continued as Eurodollar Loans):	 

 

	

 

		1	Notice must be provided upon 3 Business Days’ prior notice in the case of any Base Rate Loans
or any portion thereof to be converted into Eurodollar Rate Loans.

		2	For each Interest Period, the aggregate amount of Eurodollar Rate Loans having such Interest Period
must be $1,000,000 or an integral multiple of $100,000 in excess thereof.

		3	Subject to the definition of “Interest Period” in the Credit Agreement.

 

    	1

    	 

    

 

[The Borrower hereby
certifies that the following statements are true on the date hereof, and will be true on the date of the proposed conversion or
continuation, both before and after giving effect thereto:

 

(a)          the
foregoing conversion or continuation complies with the terms and conditions of the Credit Agreement (including, without limitation,
Section 2.10 of the Credit Agreement);

 

(b)          no
Default or Event of Default has occurred and is continuing, or would result from such proposed conversion or continuation.]4

 

[Signature page follows]

 

	

 

		4	Include if the Loans are to be converted into or continued as Eurodollar Loans.

 

    	2

    	 

    

 

	 	FRANCESCA’S COLLECTIONS, INC.
	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:

 

    	3

    	 

    

 

EXHIBIT 2.14(e)

 

[FORM OF]

NOTE

 

	Lender: [NAME OF LENDER]	 	New York, New York
	Principal Amount: [$              ]	 	[_______], 2013

 

 

FOR VALUE RECEIVED, the undersigned,
FRANCESCA’S COLLECTIONS, INC., a Texas corporation (the “Company”), hereby promises to pay the Lender
set forth above (the “Lender”), the Principal Amount set forth above, or, if less, the then aggregate unpaid
principal amount of all Loans made by the Lender pursuant to the Second Amended and Restated Credit Agreement, dated as of August
30, 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Company, Francesca’s LLC, the other Guarantors from time to time party thereto, the Lenders from time to time party
thereto, the L/C Issuer, Royal Bank of Canada, as administrative agent, Royal Bank of Canada, as collateral agent for the Secured
Parties, and the other parties thereto. Capitalized terms used but not defined herein shall have the meanings assigned to such
terms in the Credit Agreement.

 

The Company also promises to pay interest
on the unpaid principal amount of such Loan from the date made until such principal amount is paid in full, at such interest rates,
and payable at such times, as are specified in the Credit Agreement.

 

This Note is one of the Notes referred
to in the Credit Agreement and is subject to the terms and entitled to the benefits of thereof and of the other Loan Documents.
This Note is secured and guaranteed as provided in the Guaranty and Security Agreement and by the other security documents. This
Note is subject to voluntary prepayment prior to the Scheduled Termination Date, in whole or in part, as provided in the Credit
Agreement.

 

If an Event of Default shall occur, the
principal of and accrued interest on this Note may become or be declared to be due and payable in the manner and with the effect
provided in the Credit Agreement.

 

All parties now and hereafter liable with
respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive presentment, demand, protest
and all other notices of any kind in connection with this Note.

 

THIS NOTE MAY NOT BE TRANSFERRED OR
AMENDED EXCEPT IN COMPLIANCE WITH THE TERMS OF THE CREDIT AGREEMENT.

 

THIS NOTE, AND THE RIGHTS AND OBLIGATIONS
OF THE COMPANY AND THE LENDER HEREUNDER, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Note to be executed and delivered by its duly authorized officer as of the day and year and at the place set forth above.

 

	 	
        FRANCESCA’S COLLECTIONS, INC.

         

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT 2.17(f)

 

[FORM OF]

 UNITED STATES TAX COMPLIANCE
CERTIFICATE

 

Reference is made to
the Second Amended and Restated Credit Agreement, dated as of August 30, 2013 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), by and among Francesca’s Collections, Inc.,
a Texas corporation, as the borrower (the “Borrower”), Francesca’s LLC, a Delaware limited liability company,
the other Guarantors from time to time party thereto, the Lenders from time to time party thereto, the L/C Issuer, Royal Bank of
Canada, as Administrative Agent, Royal Bank of Canada, as Collateral Agent, and the other parties thereto. Capitalized terms
used herein that are not defined herein shall have the meanings ascribed to them in the Credit Agreement. [______________________]
(the “Non-U.S. Lender Party”) is providing this certificate pursuant to subsection 2.17(f)(ii)(III) of
the Credit Agreement. The Non-U.S. Lender Party hereby represents and warrants that:

 

1.          The
Non-U.S. Lender Party is the sole record and beneficial owner of the Loans or the obligations evidenced by Note(s) in respect of
which it is providing this certificate.

 

2.          The
Non-U.S. Lender Party is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code. In this regard, the Non-U.S.
Lender Party further represents and warrants that:

 

(a)         the
Non-U.S. Lender Party is not subject to regulatory or other legal requirements as a bank in any jurisdiction; and

 

(b)         the Non-U.S. Lender Party has
not been treated as a bank for purposes of any tax, securities law or other filing or submission made to any Governmental Authority,
any application made to a rating agency or qualification for any exemption from tax, securities law or other legal requirements.

 

3.          The
Non-U.S. Lender Party is not a 10-percent shareholder of the Borrower, within the meaning of Section 881(c)(3)(B) of the Code.

 

4.          The
Non-U.S. Lender Party is not a controlled foreign corporation described in Section 881(c)(3)(C) of the Code.

 

5.          No
payments in connection with the Loan Documents are effectively connected with the Non-U.S. Lender Party’s conduct of a U.S.
trade or business.

 

[Signature page follows]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned has
duly executed this certificate.

 

	 	[NAME OF NON-U.S. LENDER PARTY]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 

Date: ____________________Exhibit 10.1

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

  

This Amended and Restated
Employment Agreement (this “Agreement”) is between Roomlinx Inc., a Nevada corporation (“Employer” or “Company”)
and Michael S. Wasik (“Employee”), and shall be effective as of August 29, 2013 (the “Effective Date”).
This Agreement amends and restates the Employment Agreement dated June 5, 2009 between Employer and Employee in its entirety.

 

1.      Appointment.  Employer hereby employs Employee and Employee agrees to serve as Employer’s Chief Executive
Officer or in such additional or alternative position(s) as Employer’s Chairman of the Board (the “Chairman”)
or Board of Directors (the “Board”) shall in their sole discretion designate from time to time, whether for Employer
and/or any subsidiary, affiliate or corporate parent. Employee may terminate his employment with Employer for Good Reason if Employer
fails to remedy substantially, within 30 days of receiving written notice from Employee of the existence of Good Reason, the conditions
underlying or giving rise to Good Reason. For purposes of this paragraph, “Good Reason” shall exist if, without Employee’s
consent: (i) Employer materially reduces Employee’s compensation during the term of this Agreement, other than as part of
an across-the board salary and/or benefits reduction that applies generally to all of Employer senior executives; (ii) Employer
relocates Employee’s principal work site to a site outside the greater Denver metropolitan area; or (iii) Employer materially
reduces Employee’s reporting relationship or day-to-day duties and responsibilities. If Employee terminates his employment
for Good Reason as specified in this paragraph, the termination shall for all purposes be treated as a termination by Employer
without cause pursuant to paragraph 10(b) below. Employee shall at all times faithfully and to the best of his abilities and experience,
and in accordance with the standards and ethics of the business in which Employer is engaged, perform all duties that may be required
of him by this Agreement, Employer policies and procedures, and the directives of the Board and the Chairman of Employer and/or
any subsidiary, affiliate or corporate parent. Employer acknowledges and approves the Employee to act as a Director for other Corporations
and non-profit entities so long as Employee is not in breach of paragraph 8 of this Agreement.

 

2.      Salary,
Stock Options and Bonuses.

 

a.      Base
Salary and Performance Bonus. Employee’s starting base salary shall be $200,000 per year, payable in equal
installments in accordance with Employer’s standard payroll practice, less customary or legally required withholdings
and any setoffs necessary to satisfy any debt owed by Employee to Employer. Employer may, in its sole discretion, increase
Employee’s base salary, as and when Employer deems appropriate. Employer’s Compensation Committee shall, no less
frequently than annually, consider Employee’s eligibility for payment of a bonus based on Employee’s performance,
as, when, and in an amount determined by the Compensation Committee and/or Board in its sole discretion. Both parties agree
that, assuming his full achievement of all relevant performance criteria and any milestones established by the Compensation
Committee and/or Board and agreed to by Employee, Employee shall have a target bonus of at least 100% of his base salary
specified above and 100,000 Incentive options and that the Compensation Committee shall consider this target bonus when
determining the amount of Employee’s bonus per year.

 

    	1

    	 

    

  

b.      Stock
Options. Employer previously granted to Employee qualified options to purchase shares of Employer’s common stock (the
“Options”), and Employer may elect to grant additional Options in the future to Employee in Employer’s discretion.
The Options shall be subject to the terms and conditions of the Stock Option Agreements and the Employer Stock Option and Incentive
Plan (the “Plan”), the terms of which shall take precedence over any conflicting term of this Agreement unless such
term is specifically incorporated by reference into the Plan or the Stock Option Agreements.

 

c.      Bonus
Upon Sale of the Company. Contemporaneously with Employer’s consummation of a Sale of the Company (as defined in paragraph 10(b)
of this Agreement), Employer shall pay Employee a bonus equal to twelve months of Employee’s then current base salary in
one lump sum. For purposes of this Agreement, the term “Sale of the Company” means any transaction or related series
or combination of transactions whereby, directly or indirectly, control of a majority (defined as greater than 50% of the outstanding
voting capital stock of Employer) of the equity interests of Employer (or any direct or indirect parent of Employer), or the majority
of Employer’s business or assets is acquired, leased or licensed by a third party in a sale or exchange of stock, merger
or consolidation, sale, lease or license of assets or joint venture (regardless of whether Employer has control of said joint
venture or is a minority owner), including by way of an exchange or tender offer, a leveraged buyout, a recapitalization, restructuring
or reorganization of Employer.

 

3.      Fringe
benefits.

 

a.      Insurance.  Employee
and his dependents shall be eligible for coverage under the group insurance plans made available from time to time to Employer’s
executive employees. The premiums for the coverage of Employee and his dependents under that plan shall be paid in full by the
Company.

 

b.      Expenses.  Subject
to Employer’s policies and procedures for the reimbursement of business expenses incurred by its executive employees, Employer
shall reimburse Employee for all reasonable and necessary expenses incurred by Employee in connection with the performance of
his duties under this Agreement.

 

c.      Miscellaneous benefits.  Employee shall receive all material fringe benefits that Employer may from time to time offer
generally to its other executive employees.

 

d.      Liability
Insurance.  Employer shall provide Employee with insurance relating to the performance
of his duties for Employer (such as Directors & Officers Liability Insurance) to the
same extent such insurance is provided to Employer’s other executive officers.

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4.      Paid Leave.

 

a.      Vacation.  Employee
shall be entitled to at least 20 days of vacation per calendar year. Upon termination of Employee’s employment, Employer
shall pay Employee the cash value of the prorated portion of his vacation entitlement during the year of termination, less the
value of the vacation time used during that year. Paid vacation is a benefit of time, not money; therefore, Employee shall not
be entitled to payment in lieu of taking earned vacation time, except on termination of Employee’s employment with Employer.

 

b.      Sick
leave and Holidays.  Employee shall receive paid sick leave and holidays under the guidelines for such leave applicable
from time to time to Employer’s executive employees.

 

5.      Source
of Payments.  All payments to be made to Employee under this Agreement shall be paid from Employer’s general
funds. No special or separate fund shall be established and no other segregation of assets shall be made to assure payment. Neither
this Agreement nor any action taken hereunder shall be construed to create a trust of any kind. To the extent that any person
has any right to receive payments from Employer under this Agreement, that right shall be no greater that the right of any unsecured
creditor of Employer.

 

8.      Unfair Competition.

 

a.      Covenants. During Employee’s
employment with Employer and for a period of one year after termination of that employment (the “Noncompetition Period”),
so long as Employee is being paid a severance for the duration of the Noncompetition Period equal to or greater than the salary
specified in paragraph 2 of this Agreement, Employee shall not, directly or indirectly, as an officer, director, employee, consultant,
owner, shareholder, adviser, joint venturer, or otherwise, compete with Employer anywhere in the United States of America (the
“Protected Region”) in any line of business in which Employer was engaged at any time during Employee’s employment
with Employer. This covenant shall not prohibit Employee from owning less than two percent of the securities of any competitor
of Employer, if such securities are publicly traded on a nationally recognized stock exchange or over-the-counter market.

 

b.      Acknowledgments.  Employee acknowledges that the foregoing geographic restriction on competition is fair and reasonable, given the nature and geographic
scope of Employer’s business operations and the nature of Employee’s position with Employer. Employee also acknowledges
that while employed by Employer, Employee will have access to information that would be valuable or useful to Employer’s
competitors, and therefore acknowledges that the foregoing restrictions on Employee’s future employment and business activities
are fair and reasonable.

 

c.      Survival.  Employee’s obligations under this paragraph 8 shall survive the termination of Employee’s employment with Employer
and shall thereafter be enforceable whether or not such termination is claimed or found to be wrongful or to constitute or result
in a breach of any contract or of any other duty owed or claimed to be owed to Employee by Employer or any employee, agent or
contractor of Employer.

 

    	3

    	 

    

 

d.     Remedies.  Employee acknowledges and agrees that any violation of this paragraph 8 by Employee may cause harm to Employer.

 

9.       Relationship Between this
Agreement and Other Employer Publications. In the event of any conflict between any term of this Agreement and any Employer
contract, policy, procedure, guideline or other publication, the terms of this Agreement shall control.

 

10.       Term
and Termination.

 

a.      Term.  Employee’s
employment shall at all times be at will. Employee or Employer may terminate Employee’s employment at any time, with or
without cause, and with or without prior notice, procedure or formality.

 

b.      Termination
by Employer Without Cause.  Employer may in its sole discretion terminate Employee’s employment at any time without cause.
If Employer does so, following Employee’s execution of a legal release in a form satisfactory to Employer in its sole discretion
and drafted so as to ensure a final, complete and enforceable release of all claims that Employee has or may have against Employer
relating to or arising in any way from Employee’s employment with Employer and/or the termination thereof, and complete
and continuing confidentiality of Employer’s proprietary information and trade secrets, the circumstances of Employee’s
separation from Employer, and compensation received by Employee in connection with that separation, Employer shall pay Employee
severance compensation equal to twelve months of Employee’s then current base salary.

 

Severance compensation
pursuant to this paragraph 10(b) shall be payable in accordance with Employer’s customary pay schedules in equal bi-monthly
installments, less customary or legally required withholdings, beginning in the month following the termination date. If Employer
terminates this Agreement at any time without cause under this paragraph 10(b), pays Employee all salary and vacation compensation
earned and unpaid as of the termination date, and offers to pay Employee severance compensation in the amount and on the terms
specified above, Employer’s acts in doing so shall be in complete accord and satisfaction of any claim that Employee has
or may at any time have for compensation or payments of any kind from Employer arising from or relating in whole or part to Employee’s
employment with Employer and/or this Agreement.

 

c.      Termination
by Employer for Cause.  Employer may terminate Employee’s employment effective immediately, with Employer’s
only obligation being the payment of salary and accrued, unused vacation compensation earned as of the date of termination and
without liability for severance compensation of any kind, if Employee is convicted of any felony involving dishonesty; discriminatory
or harassing behavior that directly impacts Employee’s duties under this Agreement.

 

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d.      Termination Upon Employee’s
Death.  This Agreement and Employee’s employment with Employer shall terminate upon Employee’s death. All stock
options held by the Employee shall become fully vested. Thereafter, Employer shall pay to Employee’s estate all compensation,
fully earned, and benefits vested, including severance as outlined in paragraph 10(b) of this Agreement.

 

11.       Successors and Assigns.  Employer, its successors and assigns may in their sole discretion
assign this Agreement, with or without Employee’s consent, to any person or entity in connection with a change of control
or other sale or disposition of all or substantially all of the stock or assets of Employer or any parent company thereof. This
Agreement thereafter shall bind, and inure to the benefit of, Employer’s successor or assign. Employee shall not assign either
this Agreement or any right or obligation arising thereunder.

 

12.       
Miscellaneous.

 

a.      Governing
Law.  This Agreement, and all other disputes or issues arising from or relating in any way to Employer relationship
with Employee, shall be governed by the internal laws of the State of Colorado, irrespective of the choice of law rules of any
jurisdiction.

 

b.      Severability. If any court of competent jurisdiction declares any provision of this Agreement invalid or unenforceable,
the remainder of the agreement shall remain fully enforceable. To the extent that any court concludes that any provision of this
Agreement is void or voidable, the court shall reform such provision(s) to render the provision(s) enforceable, but only to the
extent absolutely necessary to render the provision(s) enforceable.

 

c.      Integration. This Agreement constitutes the entire agreement of the parties and a complete merger of prior negotiations
and agreements and, except as provided in the preceding subparagraph, shall not be modified by word or deed, except in a writing
signed by Employee and Employer’s Chairman of the Board.

 

d.      Waiver.
 No provision of this Agreement shall be deemed waived, nor shall there be an estoppel against the enforcement of any such provision,
except by a writing signed by the party charged with the waiver or estoppel. No waiver shall be deemed continuing unless
specifically stated therein, and the written waiver shall operate only as to the specific term or condition waived, and not for
the future or as to any act other than that specifically waived.

 

e.      Construction.

 Headings in this Agreement are for convenience only and shall not control the meaning of this Agreement. Whenever applicable,
masculine and neutral pronouns shall equally apply to the feminine genders; the singular shall include the plural and the plural
shall include the singular. The parties have reviewed and understand this Agreement, and each has had a full opportunity to negotiate
the agreement’s terms and to consult with counsel of their own choosing. Therefore, the parties expressly waive all applicable
common law and statutory rules of construction that any provision of this Agreement should be construed against the agreement’s
drafter, and agree that this Agreement and all amendments thereto shall be construed as a whole, according to the fair meaning
of the language used.

 

 

    	5

    	

    

 

f.      Disputes.  Any action arising from or relating any way to this Agreement, or otherwise arising from or relating to Employee’s
employment with Employer, shall be tried only in the state or federal courts situated in Denver, Colorado. The parties consent
to jurisdiction and venue in those courts to the greatest extent possible under law.

 

 

[signature page follows]

 

 

 

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IN WITNESS WHEREOF,
the parties have executed this Agreement to be effective as of the date first above written.

 

Employee:

 

 

 

	 	 
	Michael S. Wasik	 

 

 

Employer:

 

Roomlinx Inc.

 

	By:	 	 
	 	Carl Vertuca (Director)	 
	 	 	 
	 	 	 
	By:	 	 
	 	Erin Lydon-Hart (Director)

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