Document:

First Amendment to the License Agreement

 Exhibit 10.3 
 FIRST AMENDMENT TO THE LICENSE AGREEMENT 
 This
FIRST AMENDMENT TO THE LICENSE AGREEMENT is made and entered into as of May 25, 2007 (this “Amendment”), by and among Universal Studios, Inc., a Delaware corporation (“USI”), Universal City Studios LLLP, a
Delaware limited liability limited partnership (formerly known as Universal City Studios, Inc., “UCS”), Universal City Property Management Company II LLC, a Delaware limited liability company (formerly known as Universal City
Property Management II, “UniCo”) and Universal City Development Partners, Ltd., a Florida limited partnership (“UCDP Ltd.,” formerly known as Universal City Development Partners, LP (“UCDP LP”)).

 W I T N E S S E T H 
 WHEREAS, the predecessors of USI, UCS, UniCo and UCDP entered into that certain License Agreement, dated as of March 28, 2002 (the “License Agreement”); 
 WHEREAS, the License Agreement was made pursuant to that certain Second Amended and Restated Agreement of Limited Partnership of UCDP
LP, dated as of July 27, 2000, by and between Universal City Florida Holding Co. II, as general partner, and Universal City Florida Holding Co. I, as limited partner (the “Original Partnership Agreement”); 
 WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of April 30, 2002, UCDP LP merged with and into UCDP Ltd. (the
“Merger”); 
 WHEREAS, in connection with the Merger, on June 5, 2002, Universal City Florida
Holding Co. II (“Holding II”). in its capacity as the sole general partner of UCDP Ltd., and Universal City Florida Holding Co. I (“Holding I”), in its capacity as the sole limited partner of UCDP Ltd., among
additional parties, entered into that certain Amended and Restated Agreement of Limited Partnership of UCDP Ltd. (as amended, the “New Partnership Agreement”); 
 WHEREAS, in connection with the Theme Park License Agreement, dated as of the date hereof (the “WB Agreement”), by
and between Warner Bros. Consumer Products Inc. and UCDP Ltd., the parties to the New Partnership Agreement have entered into a First Amendment to the New Partnership Agreement dated as of the date hereof (the “Partnership Agreement
Amendment”); and 
 WHEREAS, the parties hereto desire to amend the License Agreement as set forth herein in
order to incorporate the terms of the New Partnership Agreement, as amended by the Partnership Agreement Amendment. 
 NOW,
THEREFORE, in consideration of the mutual covenants hereinafter set forth, it is agreed by and among the parties hereto as follows: 

 1.        Certain Defined
Terms.  Words and phrases which are introduced initial capitals and which are not otherwise defined in this Amendment shall have the same meaning as in the New Partnership Agreement, as amended by the Partnership Agreement Amendment.

 2.        New Partnership Agreement References.  Each reference to
the “Partnership Agreement” in Section 1 and, as amended hereby, Section 4 of the License Agreement shall mean the New Partnership Agreement, as amended by the Partnership Agreement Amendment. 
 3.        UCDP References.  Each reference to “UCDP LP” in Sections 1 and
4 of the License Agreement shall mean “UCDP Ltd.” 
 4.        Subject Gate
References.  “Universal Orlando” in Section 4 of the License Agreement shall be deleted and replaced with “the Subject Gates and, for purposes of Subsection 8(f) of the Partnership Agreement, the Beyond Gate 2 Area
(each as defined in the Partnership Agreement)”. 
 5.        Otherwise
Unchanged.  This Amendment is limited precisely as written and shall not be deemed to be an amendment to any other term or condition of the License Agreement. Wherever the License Agreement is referred to therein or in any other
agreements, documents or instruments, such reference shall be to the License Agreement, as amended hereby. Except as expressly and specifically amended by this Amendment, the License Agreement shall remain unchanged, and the License Agreement, as
amended hereby, is hereby ratified, approved and confirmed in all respects by parties hereto and shall remain in full force and effect. 
 6.        Governing Law.  This Amendment shall be interpreted and governed by the laws of the State of New York. 
 7.        Counterparts.  This Amendment may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 
 8.        Headings.  The descriptive headings contained in this Amendment are for the convenience of reference only, shall not be deemed to be a part of this Amendment and shall not
affect in any way the meaning, construction or interpretation of this Amendment. 
 [Remainder of page left blank
intentionally] 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have signed this Amendment on the day and year
first above written. 
  

					
		 	UNIVERSAL STUDIOS, INC.
			
		 	By:	 	 

		 		 	Name: Maren Christensen
		 		 	Title: Executive Vice President
		
		 	UNIVERSAL CITY STUDIOS LLLP
			
		 	By:	 	 

		 		 	Name: Maren Christensen
		 		 	Title: Executive Vice President
		
		 	 UNIVERSAL CITY PROPERTY
 MANAGEMENT COMPANY II LLC

			
		 	By:	 	 

		 		 	Name: Thomas L. Williams
		 		 	Title: Chairman and CEO

  

					
		 	 UNIVERSAL CITY DEVELOPMENT
 PARTNERS, LTD.

			
		 	By:	 	 Universal City Florida Holding Co. II,
 General Partner

			
		 	By:	 	Universal City Property Management II LLC
			
		 	By:	 	 

		 		 	Name: Thomas L. Williams
		 		 	Title: Chairman and CEO

 [Signature Page to First Amendment to License Agreement] 

  

									
	By:	 	 Blackstone UTP Offshore Capital Partners
 LLC

			
		 	By:	 	 Blackstone UTP Offshore Capital
 Partners L.P., its sole member

				
		 		 	By:	 	 Blackstone Media Management
 Associates III, L.L.C., its general
 partner

					
		 		 		 	By:	 	 

		 		 		 		 	Name: Michael Chae
		 		 		 		 	Title:

  

									
	By:	 	Blackstone Family Media Partnership III LLC
			
		 	By:	 	 Blackstone Family Media Partnership III
 L.P., its sole member

				
		 		 	By:	 	 Blackstone Media Management
 Associates III, L.L.C., its general
 partner

					
		 		 		 	By:	 	 

		 		 		 		 	Name: Michael Chae
		 		 		 		 	Title:
		
	By:	 	Blackstone UTP Capital Partners LLC
			
		 	By:	 	Blackstone UTP Capital Partners L.P., its sole member
				
		 		 	By:	 	 Blackstone Media Management Associates III, L.L.C., its general
 partner

					
		 		 		 	By:	 	 

		 		 		 		 	Name: Michael Chae
		 		 		 		 	Title:

  
  
  
  
 [Signature Page to First Amendment to License Agreement] 

									
	By:	 	Blackstone UTP Capital Partners A LLC
			
		 	By:	 	 Blackstone UTP Capital Partners A L.P.,
 its sole member

				
		 		 	By:	 	 Blackstone Media Management Associates III, L.L.C., its general
 partner

					
		 		 		 	By:	 	 

		 		 		 	Name:	 	Michael Chae
		 		 		 	Title:	 	

  
  
 [Signature Page to First Amendment to License Agreement]Joinder Agreement

 Exhibit 10.4 
 JOINDER AGREEMENT 
 This JOINDER AGREEMENT is
made and entered into as of January 15, 2010 (this “Agreement”), by and among Universal Studios, Inc., a Delaware corporation (“USI”), Universal City Studios LLLP, a Delaware limited liability limited
partnership (“UCS”), formerly known as Universal City Studios, Inc., Universal City Property Management II LLC, a Delaware limited liability company (“UniCo”), formerly known as Universal City Property Management Company II,
Universal City Development Partners, Ltd., a Florida limited partnership (“UCDP Ltd.”), formerly known as Universal City Development Partners, LP (“UCDP LP”), and USI Asset Transfer LLC, a Delaware limited liability
company (“UAT”). 
 W I T N E S S E T H 
 WHEREAS, the predecessors of USI, UCS, UniCo and UCDP Ltd. entered into that certain License Agreement, dated as of March 28,
2002, which License Agreement was amended by USI, UCS, UniCo and UCDP Ltd. pursuant to that certain First Amendment to the License Agreement, dated as of May 25, 2007 (as amended, the “License Agreement”); 
 WHEREAS, pursuant to that certain Contribution Agreement by and between USI and UAT, dated April 24, 2002 (the
“Contribution Agreement”), USI, as parent of UAT, contributed to UAT certain property, including but not limited to certain intangible rights and intellectual property (the “Contributed Assets”); 
 WHEREAS, certain of the Contributed Assets are the same assets which previously were licensed by USI to UCDP LP and UCDP Ltd.
pursuant to the License Agreement (the “USI Licensed Assets”); 
 WHEREAS, from and after the transfer
from USI to UAT of the Contributed Assets pursuant to the Contribution Agreement, UAT, as an affiliate of USI, UniCo and UCS, has, in fact, licensed to, and/or otherwise made available for use under certain terms and conditions by, UCDP LP and UCDP
Ltd., all of the USI Licensed Assets, and continues to do so; and 
 WHEREAS, the parties hereto now wish to formalize
UAT’s previous and current treatment of the USI Licensed Assets by entering into this Agreement pursuant to which UAT will become a party to the License Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, it is agreed by and among the parties hereto as follows: 
 1. Agreement to be Bound by License Agreement. UAT, as of the date hereof, hereby (a) agrees to be bound by the terms and
conditions of the License Agreement as a licensor as if UAT were a signatory to the License Agreement, (b)

 
accepts and assumes all rights and obligations under the License Agreement, and (c) agrees to perform in accordance with their terms all of the obligations which are required under the
License Agreement to be performed by it as a licensor. 
 2. Representations and Warranties. UAT represents and warrants
to the other parties as follows: 
 (a) It has full power and authority, and has taken all action necessary, to execute and
deliver this Agreement and to fulfill its obligation under, and to consummate the transaction contemplated by, this Agreement, 
 (b) The making and performance of this Agreement do not and will not violate any law or regulation applicable to it, and 
 (c) This Agreement has been duly executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 3. Ratification. UAT hereby acknowledges and affirms that from and after its entry into the Contribution Agreement on
April 24, 2002, it, as an affiliate of USI, UniCo and UCS, has licensed to, and/or otherwise made available for use under certain terms and conditions by, UCDP LP and UCDP Ltd., all of the USI Licensed Assets. By its signature below, UAT hereby
formally enters into the License Agreement and hereby ratifies, approves and confirms all such action taken by it or its officers and/or representatives with respect to licensing or making available to UCDP LP and UCDP Ltd. all of the USI Licensed
Assets from and after April 24, 2002. 
 4. Otherwise Unchanged. This Agreement is limited precisely as written and
shall not be deemed to be an amendment or modification to any other term or condition of the License Agreement other than the joinder of UAT as a party thereto. Wherever the License Agreement is referred to therein or in any other agreements,
documents or instruments, such reference shall be to the License Agreement, as modified hereby to add UAT as a party. Except as expressly and specifically provided in this Agreement, the License Agreement shall remain unchanged, and the License
Agreement, as modified hereby, is hereby ratified, approved and confirmed in all respects by the parties hereto and shall remain in full force and effect. 
 5. Governing Law. This Agreement shall be interpreted and governed by the laws of the State of New York, without regard to its conflicts of laws provisions. 
 6. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which together will constitute one and the same instrument. 

 7. Headings. The descriptive headings contained in this Agreement are for the
convenience of reference only, shall not be deemed to be a part of this Agreement and shall not affect in any way the meaning, construction or interpretation of this Agreement. 
 [Signature pages follow] 

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

													
		 	UNIVERSAL STUDIOS, INC.
				
		 		 	By:	 	    /s/ Gabriela Kornzweig            
		 		 	Name:	 	Gabriela Kornzweig
		 		 	Title:	 	Secretary
		
		 	UNIVERSAL CITY STUDIOS LLLP
				
		 		 	By:	 	    /s/ Gabriela Kornzweig            
		 		 	Name:	 	Gabriela Kornzweig
		 		 	Title:	 	Secretary
		
		 	UNIVERSAL CITY PROPERTY MANAGEMENT II LLC
				
		 		 	By:	 	    /s/ Thomas L. Williams            
		 		 	Name:	 	Thomas L. Williams
		 		 	Title:	 	Chairman and CEO
		
		 	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD.
				
		 		 	By:	 	 UNIVERSAL CITY FLORIDA HOLDING CO. II,
 its General Partner

					
		 		 		 	By:	 	 UNIVERSAL CITY PROPERTY
 MANAGEMENT II LLC

						
		 		 		 		 	By:	 	/s/ Thomas L. Williams
		 		 		 		 	Name:	 	Thomas L. Williams
		 		 		 		 	Title:	 	Chairman and CEO
					
		 		 		 	By:	 	BLACKSTONE UTP CAPITAL LLC
					
		 		 		 	By:	 	 Blackstone UTP Capital Partners L.P.,
 its sole member

						
		 		 		 		 	By:	 	 Blackstone Media Management
 Associates III L.L.C., its general partner

							
		 		 		 		 		 	By:	 	/s/ Michael S. Chae
		 		 		 		 		 	Name:	 	Michael S. Chae
		 		 		 		 		 	Title:	 	 
                                         
       

							
	By:	 	BLACKSTONE UTP CAPITAL A LLC
		
	By:	 	Blackstone UTP Capital Partners A L.P., its sole member
			
		 	By:	 	Blackstone Media Management Associates III L.L.C., its general partner
				
		 		 	By:	 	/s/ Michael S. Chae
		 		 	Name:	 	Michael S. Chae
		 		 	Title:	 	  

		
	By:	 	BLACKSTONE UTP OFFSHORE CAPITAL LLC
		
	By:	 	Blackstone UTP Offshore Capital Partners L.P., its sole member
			
		 	By:	 	Blackstone Media Management Associates III L.L.C., its general partner
				
		 		 	By:	 	/s/ Michael S. Chae
		 		 	Name:	 	Michael S. Chae
		 		 	Title:	 	  

		
	By:	 	BLACKSTONE FAMILY MEDIA III LLC
		
	By:	 	Blackstone Family Media Partnership III L.P., its sole member
			
		 	By:	 	Blackstone Media Management Associates III L.L.C., its general partner
				
		 		 	By:	 	/s/ Michael S. Chae
		 		 	Name:	 	Michael S. Chae
		 		 	Title:	 	  

					
	USI ASSET TRANSFER LLC
			
		 	By:	 	 /s/ Gabriela Kornzweig

		 	Name:	 	Gabriela Kornzweig
		 	Title:	 	Secretary

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