Document:

Security Agreement Dated as of July 30, 2004

 Exhibit 10.2 
  
 EXECUTION COPY 

  
 SECURITY AGREEMENT 
  
 Dated July 30, 2004 
  
 From 
  
 The
Grantors referred to herein 
  
 as Grantors 
  
 to 
  
 CITICORP NORTH AMERICA, INC. 
  
 as Administrative Agent 
  

 Table of Contents 
  

					
	 	 	 	  	Page

	 SECTION 1.
	 	 Grant of Security
	  	2
			
	 SECTION 2.
	 	 Security for Obligations
	  	5
			
	 SECTION 3.
	 	 Grantors Remain Liable
	  	6
			
	 SECTION 4.
	 	 Delivery and Control of Security Collateral; Investment Property
	  	6
			
	 SECTION 5.
	 	 Other Actions
	  	7
			
	 SECTION 6.
	 	 Representations and Warranties
	  	9
			
	 SECTION 7.
	 	 Further Assurances
	  	11
			
	 SECTION 8.
	 	 Post-Closing Changes; Bailees; Collections on Assigned Agreements and Accounts
	  	12
			
	 SECTION 9.
	 	 As to Intellectual Property Collateral
	  	12
			
	 SECTION 10.
	 	 Voting Rights; Dividends; Etc.
	  	14
			
	 SECTION 11.
	 	 Transfers and Other Liens; Additional Shares; LLC/Partnership Interests
	  	15
			
	 SECTION 12.
	 	 Administrative Agent Appointed Attorney-in-Fact
	  	15
			
	 SECTION 13.
	 	 Administrative Agent May Perform
	  	16
			
	 SECTION 14.
	 	 Administrative Agent’s Duties
	  	16
			
	 SECTION 15.
	 	 Remedies
	  	17
			
	 SECTION 16.
	 	 Indemnity and Expenses
	  	18
			
	 SECTION 17.
	 	 Amendments; Waivers; Additional Grantors; Etc.
	  	19
			
	 SECTION 18.
	 	 Notices, Etc.
	  	20
			
	 SECTION 19.
	 	 Continuing Security Interest; Assignments under the Credit Agreement
	  	20
			
	 SECTION 20.
	 	 Release; Termination
	  	20
			
	 SECTION 21.
	 	 Execution in Counterparts
	  	21
			
	 SECTION 22.
	 	 The Mortgages
	  	21
			
	 SECTION 23.
	 	 Governing Law; Jurisdiction; Waiver of Jury Trial, Etc.
	  	21
			
	 SECTION 24.
	 	 Severability
	  	22

  

 i 

					
	 SCHEDULES:
	 	 	    	 
	 Schedule I
	 	 -
	    	Location, Chief Executive Office, Type Of Organization, Jurisdiction Of Organization And Organizational Identification Number
	 Schedule II
	 	 -
	    	 Pledged Equity

	 Schedule III
	 	 -
	    	 Pledged Intercompany Notes

	 Schedule IV
	 	 -
	    	 Intellectual Property

	 Schedule V
	 	 -
	    	 Commercial Tort Claims

	 Schedule VI
	 	 -
	    	 Collateral Description

			
	 EXHIBITS:
	 	 	    	 
			
	 Exhibit A
	 	 -
	    	 Form of Security Agreement Supplement

	 Exhibit B
	 	 -
	    	 Form of Copyright Security Agreement

	 Exhibit C
	 	 -
	    	 Form of Patent Security Agreement

	 Exhibit D
	 	 -
	    	 Form of Trademark Security Agreement

  

 ii 

 SECURITY AGREEMENT 
  
 SECURITY AGREEMENT dated July 30, 2004 made by LCE ACQUISITION CORPORATION (to be merged with and into LOEWS CINEPLEX
ENTERTAINMENT CORPORATION, a Delaware corporation) (the “Company”), LCE HOLDCO, LLC, a Delaware limited liability company (“Holdings”), the other Persons listed on the signature pages hereof and the Additional
Grantors (as hereinafter defined) (the Company, Holdings, the Persons so listed and the Additional Grantors being, collectively, the “Grantors”), to CITICORP NORTH AMERICA, INC., as administrative agent (in such capacity, together
with any successor administrative agent, the “Administrative Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below). 
  
 PRELIMINARY STATEMENTS 
  
 (1) The Company has entered into a Credit Agreement dated of even date herewith (said Agreement, as it may hereafter be amended, amended and restated,
supplemented or otherwise modified from time to time, being the “Credit Agreement”) with Holdings, the other Borrowers party thereto and the Lenders, the L/C Issuer and the Agents party thereto. 
  
 (2) Pursuant to the Credit Agreement, the Grantors are entering into this
Agreement in order to grant to the Administrative Agent for the ratable benefit of the Secured Parties a security interest in the Collateral (as hereinafter defined) to secure their respective Secured Obligations (as hereinafter defined).

  
 (3) It is a condition precedent to the making of Loans and the
issuance of Letters of Credit by the Lenders under the Credit Agreement and the entry into Secured Hedge Agreements by the Hedge Banks from time to time that the Grantors shall have granted the assignment and security interest and made the pledge
and assignment contemplated by this Agreement. 
  
 (4) Each
Grantor will derive substantial direct and indirect benefit from the transactions contemplated by the Loan Documents and the Secured Hedge Agreements (together with all instruments, agreements or other documents evidencing the Cash Management
Obligations, the “Finance Documents”). 
  
 (5)
Terms defined in the Credit Agreement and not otherwise defined in this Agreement are used in this Agreement as defined in the Credit Agreement. Further, unless otherwise defined in this Agreement or in the Credit Agreement, terms defined in Article
8 or 9 of the UCC (as defined below) are used in this Agreement as such terms are defined in such Article 8 or 9 (including Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Commodity Intermediary, Deposit Accounts, Electronic
Chattel Paper, Entitlement Holder, Entitlement Order, Documents, Equipment, Farm Products, Financial Assets, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Proceeds, Securities Accounts,
Securities Intermediary, Security, Supporting Obligations and Uncertificated Security). “UCC” means the “Uniform Commercial Code” as defined in the Credit Agreement. 
  

 NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to make Loans and
participate in Letters of Credit, and the L/C Issuer to issue Letters of Credit under the Credit Agreement and to induce the Hedge Banks to enter into Secured Hedge Agreements from time to time, each Grantor hereby agrees with the Administrative
Agent for the ratable benefit of the Secured Parties as follows: 
  
 SECTION 1. Grant of Security. Each Grantor hereby pledges (where applicable) and hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in such
Grantor’s right, title and interest in and to the following property, in each case, as to each type of property described below, whether now owned or hereafter acquired by such Grantor, wherever located, and whether now or hereafter existing or
arising (collectively, the “Collateral”): 
  
 (a) all Accounts; 
  
 (b) all cash and Cash Equivalents; 
  
 (c) all Chattel Paper; 
  
 (d) all
Commercial Tort Claims (including, without limitation, the Commercial Tort Claims set forth on Schedule V hereto); 
  
 (e) all Deposit Accounts; 
  
 (f) all Documents; 
  
 (g) all Equipment; 
  
 (h) all Farm Products; 
  
 (i) all Fixtures; 
  
 (j) all General Intangibles; 
  
 (k) all Goods; 
  
 (l) all Instruments; 
  
 (m) all Inventory; 
  
 (n) all Letter-of-Credit Rights; 
  
 (o) the following (the “Security Collateral”): 
  
 (i) all indebtedness evidenced by promissory notes or other instruments from time to time owed to such
Grantor (the “Pledged Debt”) including, without limitation, the instruments set forth on Schedule III hereto, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in
respect of or in exchange for any or all of the Pledged Debt; 
  

 2 

 (ii) all Equity Interests in Subsidiaries of Holdings from time to time acquired, owned
or held by such Grantor in any manner (the “Pledged Equity”), including, without limitation, the Equity Interests in Subsidiaries of Holdings held by each Grantor set forth opposite such Grantor’s name on and otherwise
described on Schedule II, and the certificates, if any, representing such Equity Interests or such additional shares or units or other Equity Interests, and all dividends, distributions, return of capital, cash, instruments and other property from
time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares or other Equity Interests and all subscription warrants, rights or options issued thereon or with respect thereto; provided
that no Grantor shall be required to pledge, and the terms “Pledged Equity” and “Security Collateral” used in this Agreement shall not include, any (A) Equity Interests which are direct assets owned by any Foreign
Subsidiary, (B) Equity Interests in any Foreign Subsidiary held of record by such Grantor which, when aggregated with all of the other Equity Interests in such Foreign Subsidiary pledged by the Grantors, would result, directly or indirectly, in more
than 65% of the Equity Interests in such Foreign Subsidiary entitled to vote (within the meaning of Treasury Regulation Section 1.956 2(c)(2) promulgated under the Code) (the “Voting Foreign Stock”) being pledged to the
Administrative Agent, on behalf of the Secured Parties under this Agreement; provided further that all of the shares of stock or units or other Equity Interests in such Foreign Subsidiary not entitled to vote (within the meaning of Treasury
Regulation Section 1.956-2(c)(2) promulgated under the Code) (the “Non-Voting Foreign Stock”) shall be pledged by such Grantor or (C) Equity Interests in any Foreign Subsidiary the assets of which constituted less than 2.5% of
Consolidated Assets and the revenues of which contributed less than 2.5% of Consolidated Revenues, in each case based on the most recently delivered financial statements under Section 6.01(a) or (b) of the Credit Agreement (provided ̧ further,
however, that the Foreign Subsidiaries the pledge of the Equity Interests in which is excluded pursuant to this clause (C) shall not in any event constitute more than 5% of Consolidated Assets or represent more than 5% of Consolidated Revenues (as
so determined)); and 
  
 (iii) all other
Investment Property and all Financial Assets, and all dividends, distributions, return of capital, interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange therefor
and all subscription warrants, rights or options issued thereon or with respect thereto; 
  
 (p) all contracts and agreements between any Grantor and one or more additional Persons (including, without limitation, any Swap
Contracts, licensing agreements and any partnership agreements, joint venture agreements, limited liability company agreements) and the IP Agreements (as hereinafter defined), in each case as such agreements may be amended, amended and restated,
supplemented or otherwise modified from time to time (collectively, the 

  

 3 

 
“Assigned Agreements”), including, without limitation, all rights of such Grantor to receive moneys due and to become due under or pursuant
to the Assigned Agreements (all such Collateral being the “Agreement Collateral”); 
  
 (q) the following (collectively, the “Intellectual Property Collateral”): 
  
 (i) all patents, patent applications, and statutory
invention registrations, all inventions claimed or disclosed therein and all improvements thereto (“Patents”); 
  
 (ii) all trademarks, service marks, domain names, trade dress, logos, designs, slogans, trade names, business names, corporate names and
other source identifiers, whether registered or unregistered, and all common-law rights relating thereto (provided that the Administrative Agent shall not exercise its rights under Section 15 with respect to any United States intent-to-use
trademark applications solely to the extent that, and solely during the period in which, such actions would impair the validity or enforceability of such intent-to-use trademark applications under applicable federal law), together, in each case,
with the goodwill of the business symbolized thereby (“Trademarks”); 
  
 (iii) all copyrights whether registered or unregistered (“Copyrights”), including, without limitation, copyrights in all
Computer Software (as hereinafter defined), internet web sites and the content thereof; 
  
 (iv) all computer software, programs and databases (including, without limitation, source code, object code and all related applications
and data files), firmware and documentation and materials relating thereto, together with any and all maintenance rights, service rights, programming rights, hosting rights, test rights, improvement rights, renewal rights and indemnification rights
and any substitutions, replacements, improvements, error corrections, updates and new versions of any of the foregoing (“Computer Software”); 
  

(v) all confidential and proprietary information, including, without limitation, confidential and proprietary know-how, trade secrets,
manufacturing and production processes and techniques, inventions, research and development information, databases and data, including, without limitation, technical data, financial, marketing and business data, pricing and cost information,
business and marketing plans and customer and supplier lists and information (collectively, “Trade Secrets”), and all other intellectual, industrial and intangible property of such type, including, without limitation, industrial
designs and mask works; 
  
 (vi) all
registrations and applications for registration for any of the foregoing, together with all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations thereof; 
  
 (vii) all rights in the foregoing provided by international
treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 
  

 4 

 (viii) all agreements, permits, consents, orders and franchises relating to the license,
ownership, development, use or disclosure of any of the foregoing to which such Grantor, now or hereafter, is a party or a beneficiary and all rights in any of the foregoing (“IP Agreements”); and 
  
 (ix) any and all claims for damages and injunctive relief
for past, present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, all proceeds and damages
relating thereto; 
  
 (r) all books and records
(including, without limitation, customer lists, credit files, printouts and other computer output materials and records) of such Grantor pertaining to any of the Collateral; 
  
 (s) all other tangible and intangible personal property of whatever nature whether or not covered by Article
9 of the UCC; and 
  
 (t) all Proceeds of,
collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and Supporting Obligations relating to, any and all of the Collateral and, to the extent not otherwise included, all payments under insurance
(whether or not the Administrative Agent is the loss payee thereof), or any indemnity, warranty or guaranty, payable by reason of loss or damage to or otherwise with respect to any of the foregoing Collateral; 
  
 provided that notwithstanding anything to the contrary in this Agreement, this
Agreement shall not constitute a grant of a security interest in (A) motor vehicles the perfection of a security interest in which is excluded from the UCC in the relevant jurisdiction, (B) any Letter-of-Credit Rights to the extent any Grantor is
required by applicable law to apply the Proceeds of such Letter-of-Credit Rights for a specified purpose or (C) any General Intangible, Investment Property or other such rights of a Grantor arising under any contract, lease, instrument, license or
other document if (but only to the extent that) the grant of a security interest therein would (x) constitute a violation of a valid and enforceable restriction in respect of such General Intangible, Investment Property or other such rights in favor
of a third party or under any law, regulation, permit, order or decree of any Governmental Authority, unless and until all required consents shall have been obtained or (y) expressly give any other party in respect of any such contract, lease,
instrument, license or other document, the right to terminate its obligations thereunder; provided however, that the limitation set forth in clause (C) above shall not affect, limit, restrict or impair the grant by a Grantor of a security
interest pursuant to this Agreement in any such Collateral to the extent that an otherwise applicable prohibition or restriction on such grant is rendered ineffective by any applicable law, including the UCC. Each Grantor shall, if requested to do
so by the Administrative Agent, use commercially reasonable efforts to obtain any such required consent that is reasonably obtainable with respect to Collateral which the Administrative Agent reasonably determines to be material. 
  
 SECTION 2. Security for Obligations. This Agreement
secures, in the case of each Grantor, the payment of all Obligations of such Grantor now or hereafter existing, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, 

  

 5 

 
interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise (all such Obligations being the
“Secured Obligations”). 
  
 SECTION 3. Grantors Remain Liable. Anything herein to the contrary notwithstanding, (a) each Grantor shall remain liable under the contracts and agreements included in such Grantor’s Collateral to the extent set forth therein to
perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Administrative Agent of any of the rights hereunder shall not release any Grantor from any of its duties or
obligations under the contracts and agreements included in the Collateral and (c) no Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Agreement or any other Finance
Document, nor shall any Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder. 
  
 SECTION 4. Delivery and Control of Security Collateral;
Investment Property. 
  
 (a) All certificates
representing or evidencing the Pledged Equity and all instruments representing or evidencing the Pledged Debt shall be delivered to and held by or on behalf of the Administrative Agent pursuant hereto and shall be in suitable form for transfer by
delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Administrative Agent. During the continuation of an Event of Default, the Administrative
Agent shall have the right, at any time in its discretion and without notice to any Grantor, to (i) transfer to or to register in the name of the Administrative Agent or any of its nominees any or all of the Security Collateral, (ii) exchange
certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller or larger denominations, and (iii) convert Security Collateral consisting of Financial Assets credited to any Securities Account to
Security Collateral consisting of Financial Assets held directly by the Administrative Agent, and to convert Security Collateral consisting of Financial Assets held directly by the Administrative Agent to Security Collateral consisting of Financial
Assets credited to any Securities Account. 
  
 (b) Except to the extent otherwise provided in Section 1(o)(ii) with respect to Equity Interests (i) in Persons that are not Subsidiaries of Holdings or (ii) that represent Voting Foreign Stock, if any Grantor shall at any time hold or
acquire any certificated securities, such Grantor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Administrative Agent may from
time to time specify. If any securities now or hereafter acquired by any Grantor are uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly notify the Administrative Agent thereof
and, at the Administrative Agent’s request and option, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, either (a) cause the issuer to agree to comply with instructions from the Administrative
Agent as to such securities, without further consent of any Grantor or such nominee, or (b) arrange for the Administrative Agent to become the registered owner of the securities. If any securities, whether certificated or uncertificated, or other
Investment Property now or hereafter acquired by any Grantor are held by such Grantor or its nominee through a Securities Intermediary or Commodity Intermediary, such Grantor shall 

  

 6 

 
promptly notify the Administrative Agent thereof and, at the Administrative Agent’s request and option, pursuant to an agreement in form and substance
reasonably satisfactory to the Administrative Agent, either (a) cause such Securities Intermediary or Commodity Intermediary, as the case may be, to agree to comply with Entitlement Orders or other instructions from the Administrative Agent to such
Securities Intermediary as to such securities or other Investment Property, or (as the case may be) to apply any value distributed on account of any commodity contract as directed by the Administrative Agent to such Commodity Intermediary, in each
case without further consent of any Grantor or such nominee, or (b) in the case of Financial Assets (as governed by Article 8 of the UCC) or other Investment Property held through a Securities Intermediary, arrange for the Administrative Agent to
become the Entitlement Holder with respect to such Investment Property, with the Grantor being permitted, only with the consent of the Administrative Agent, to exercise rights to withdraw or otherwise deal with such Investment Property. The
Administrative Agent agrees with each of the Grantors that the Administrative Agent shall not give any such Entitlement Orders or instructions or directions to any such issuer, Securities Intermediary or Commodity Intermediary, and shall not
withhold its consent to the exercise of any withdrawal or dealing rights by any Grantor, unless an Event of Default has occurred and is continuing, or, after giving effect to any such investment and withdrawal rights an Event of Default would occur.
The provisions of this paragraph shall not apply to any Financial Assets credited to a Securities Account for which the Administrative Agent is the Securities Intermediary. 
  
 SECTION 5. Other Actions. So long as any Loan or any other Obligation of any Loan Party under any
Loan Document shall remain unpaid, any Letter of Credit shall be outstanding or any Lender shall have any Commitment: 
  
 (a) If any Grantor shall at any time hold or acquire any Instruments in excess of $250,000, such Grantor shall forthwith endorse, assign
and deliver the same to the Administrative Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Administrative Agent may from time to time reasonably specify; 
  
 (b) For each Deposit Account that any Grantor at any time
opens or maintains, such Grantor shall, on or prior to the date that is 90 days after the Closing Date (or such later date not more than 180 days after the Closing Date as the Administrative Agent may reasonably agree), either (i) cause the
depositary bank to agree to comply at any time with instructions from the Administrative Agent to such depositary bank directing the disposition of funds from time to time credited to such Deposit Account, without further consent of such Grantor or
any other Person, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, or (ii) arrange for the Administrative Agent to become the customer of the depositary bank with respect to the Deposit Account,
with the Grantor being permitted, only with the consent of the Administrative Agent, to exercise rights to withdraw funds from such Deposit Account. The Administrative Agent agrees with each Grantor that the Administrative Agent shall not give any
such instructions or withhold any withdrawal rights from any Grantor, unless an Event of Default has occurred and is continuing, or, after giving effect to any withdrawal, an Event of Default would occur. The provisions of this paragraph shall not
apply to (A) any Deposit Account for which any Grantor, the depositary bank and the Administrative Agent have entered into a cash collateral agreement specially negotiated among such Grantor, the depositary bank and the Administrative Agent for the
specific purpose set forth therein, (B) Deposit 

  

 7 

 
Accounts for which the Administrative Agent is the depositary, (C) Deposit Accounts of which all or a substantial portion of the funds on deposit are used
for funding (i) payroll, (ii) 401(k) and other retirement plans and employee benefits, (iii) health care benefits or (iv) escrow arrangements (e.g., environmental indemnity accounts) and (D) other Deposit Accounts with an aggregate balance of
all funds in all such other Deposit Accounts for all Grantors not in excess of $3,000,000 as of any date (calculated based on the aggregate balance in all such accounts on the last day of each fiscal quarter ending during the four fiscal quarters
most recently ended on or prior to the date of determination, divided by four (4)); 
  
 (c) If any Grantor at any time holds or acquires an interest in any Electronic Chattel Paper or any “transferable
record,” as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor
shall promptly notify the Administrative Agent thereof and, at the request of the Administrative Agent, shall take such action as the Administrative Agent may request to vest in the Administrative Agent control under New York UCC Section 9-105 of
such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction,
of such transferable record. The Administrative Agent agrees with such Grantor that the Administrative Agent will arrange, pursuant to procedures reasonably satisfactory to the Administrative Agent and so long as such procedures will not result in
the Administrative Agent’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in
Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any
action by such Grantor with respect to such Electronic Chattel Paper or transferable record; 
  
 (d) If any Grantor is at any time a beneficiary under a letter of credit now or hereafter issued in favor of such Grantor with a face
amount in excess of $250,000, such Grantor shall promptly notify the Administrative Agent thereof and, at the request and option of the Administrative Agent, such Grantor shall, pursuant to an agreement in form and substance reasonably satisfactory
to the Administrative Agent, either (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the Administrative Agent of the proceeds of any drawing under the letter of credit or (ii) arrange for the
Administrative Agent to become the transferee beneficiary of the letter of credit, with the Administrative Agent agreeing, in each case, that the proceeds of any drawing under the letter of credit are to be paid to the applicable Grantor unless an
Event of Default has occurred or is continuing; and 
  
 (e) Each Grantor will give prompt notice to the Administrative Agent of any Commercial Tort Claim individually in excess of $2,500,000 that it at any time in the future holds or acquires and will promptly execute or otherwise authenticate a
supplement to this Agreement, and otherwise take all necessary action, to subject such Commercial Tort Claim and the proceeds thereof to the first priority security interest created under this Agreement. 
  

 8 

 SECTION 6. Representations and Warranties. Each Grantor represents and warrants as
follows: 
  
 (a) Such Grantor’s exact legal
name, as defined in Section 9-503(a) of the UCC, is correctly set forth in Schedule I hereto. Such Grantor is located (within the meaning of Section 9-307 of the UCC) in the state or jurisdiction set forth in Schedule I hereto and has its chief
executive office in the state or jurisdiction set forth in Schedule I hereto. The other information set forth in Schedule I hereto with respect to such Grantor is true and accurate. 
  
 (b) All Pledged Equity consisting of Certificated Securities has been delivered to the Administrative Agent
in accordance herewith, and except for restrictions and limitations imposed by the Loan Documents or securities laws generally, the Pledged Equity (other than Pledged Equity representing less than all of the Equity Interests of a Person) is and will
continue to be freely transferable and assignable, and none of the Pledged Equity is or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might
prohibit or impair, delay or otherwise affect in any material respect the pledge of such Pledged Equity hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder;

  
 (c) Such Grantor is the legal and beneficial
owner of the Collateral of such Grantor free and clear of any Lien, claim, option or right of others, except for the security interest created under this Agreement, subject to Liens permitted under Section 7.01 of the Credit Agreement, and has full
power and authority to grant to the Administrative Agent the security interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of
any other person other than any consent or approval that has been obtained. Except with respect to filings related to the Existing Credit Agreements in respect of which appropriate documentation has been delivered to the Administrative Agent on or
prior to the Closing Date providing for the termination and release of the related Liens, none of the Grantors has filed or consented to the filing of (i) any financing statement or analogous document under the UCC or any other applicable laws
covering any Collateral, (ii) any assignment in which any Grantor assigns any Collateral or any security agreement or similar instrument covering any Collateral with the United States Patent and Trademark Office or the United States Copyright Office
or (iii) any assignment in which any Grantor assigns any Collateral or any security agreement or similar instrument covering any Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document,
assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens permitted pursuant to Section 7.01 of the Credit Agreement. As of the Closing Date, none of the Grantors hold any Commercial Tort Claim except
as indicated on the Perfection Certificate. 
  
 (d) The Pledged Equity issued by the Company or any of its Subsidiaries has been duly authorized and validly issued and is fully paid and non assessable or the equivalent under applicable law. 
  
 (e) The Pledged Equity pledged by such Grantor constitutes
the percentage of the issued and outstanding Equity Interests of the issuers thereof indicated on Schedule II hereto. 
  

 9 

 (f) Schedule IV lists all registered Intellectual Property owned by such Grantor in its
own name on the date hereof. 
  
 (g) On the
Closing Date each Grantor has executed and delivered to the Administrative Agent an agreement, in substantially the form set forth in Exhibit D hereto or otherwise in form and substance reasonably satisfactory to the Administrative Agent (a
“Trademark Security Agreement” and, together with each agreement, in substantially the form set forth in Exhibit B hereto or otherwise in form and substance reasonably satisfactory to the Administrative Agent (a “Copyright
Security Agreement”) and each agreement, in substantially the form set forth in Exhibit C hereto or otherwise in form and substance reasonably satisfactory to the Administrative Agent (a “Patent Security Agreement”), in
each case executed and delivered to the Administrative Agent in accordance with Section 9(e), the “Intellectual Property Security Agreements”), for recording the security interest granted hereunder to the Administrative Agent in
such Intellectual Property Collateral with the U.S. Patent and Trademark Office. On the date hereof, no Grantor owns any Patents or registered Copyrights. 
  
 (h) (i) The Perfection Certificate has been duly prepared, completed and executed and the information set forth therein is correct and
complete in all material respects as of the Closing Date; (ii) this Agreement creates in favor of the Administrative Agent for the benefit of the Secured Parties a legal and valid security interest in all the Collateral of each Grantor, securing the
payment of the Secured Obligations of such Grantor, and the security interest created under this Agreement is and shall be prior to any other Lien on any of the Collateral, other than Liens permitted pursuant to Section 7.01 of the Credit Agreement;
(iii) upon the filing of a UCC financing statement in the UCC filing office in the jurisdiction set forth in Schedule I under the heading “Jurisdiction of Organization” with respect to such Grantor, naming such Grantor as the debtor, the
Administrative Agent as the secured party and including the collateral description set forth in Schedule VI, all actions necessary to perfect the security interest in the Collateral of such Grantor created under this Agreement with respect to which
a Lien may be perfected by filing pursuant to the UCC, including without limitation unregistered Copyrights (all such Collateral, “Filing Collateral”) shall have been duly made or taken and be in full force and effect, and the Lien
created under this Agreement in such Grantor’s Filing Collateral shall be perfected; (iv) upon the timely recordation of a Copyright Security Agreement naming such Grantor as the grantor and the Administrative Agent as the secured party with
the U.S. Copyright Office, all actions necessary to perfect the security interest in the Collateral of such Grantor consisting of the registered Copyrights described therein and applicable IP Agreements with respect thereto (“Copyright
Collateral”) shall have been duly made or taken and be in full force and effect, and the Lien created under this Agreement in such Grantor’s Copyright Collateral shall be perfected; and (v) to the extent the filing in subsection (iii)
above is insufficient for perfection, upon the timely recordation of a Patent Security Agreement and Trademark Security Agreement naming such Grantor as the grantor and the Administrative Agent as the secured party with the U.S. Patent and Trademark
Office, all actions necessary to perfect the security interest in the Collateral of such Grantor consisting of the registered Patents and Trademarks (and applications therefor) described therein and applicable IP Agreements with respect thereto
(“Patent Collateral” and “Trademark Collateral,” respectively) shall have been duly made or taken and be in full force and effect, and the Lien created under this Agreement in such Grantor’s Patent Collateral
and Trademark Collateral shall be perfected. 
  

 10 

 (i) On the date hereof, no Equity Interest in any limited liability company or limited
partnership controlled by any Grantor and pledged hereunder (the “Existing LLC/Partnership Interests”) is represented by a Certificated Security. 
  
 SECTION 7. Further Assurances. 
  
 (a) Each Grantor agrees that from time to time, upon the reasonable request of the Administrative Agent and
at the expense of such Grantor, such Grantor will promptly execute and deliver, or otherwise authenticate, all further instruments and documents, and take all further action that may be reasonably necessary or desirable in order to perfect and
protect any pledge or security interest granted or purported to be granted by such Grantor hereunder or to enable the Administrative Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral of such Grantor. Each
Grantor further agrees that it shall, upon the reasonable request of the Administrative Agent and at the expense of such Grantor, take any and all actions necessary to defend title to the Collateral against all Persons and to defend the security
interest created hereunder and the priority thereof against any Lien not permitted pursuant to Section 7.01 of the Credit Agreement. 
  
 (b) Each Grantor hereby authorizes the Administrative Agent to file one or more financing or continuation statements, and amendments
thereto, including, without limitation, one or more financing statements indicating that such financing statements cover all assets or all personal property (or words of similar effect) of such Grantor, in each case without the signature of such
Grantor, and regardless of whether any particular asset described in such financing statements falls within the scope of the UCC or the granting clause of this Agreement. A photocopy or other reproduction of this Agreement or any financing statement
covering the Collateral or any part thereof shall be sufficient as a financing statement where permitted by law. Each Grantor ratifies its authorization for the Administrative Agent to have filed such financing statements, continuation statements or
amendments filed prior to the date hereof. 
  
 (c) In accordance with Section 6.10 of the Credit Agreement, the Administrative Agent and such persons as the Administrative Agent may designate shall have the right, at the Grantors’ own cost and expense, to inspect the Collateral,
all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors’ affairs with the officers of the Grantors and their independent accountants
and to verify under reasonable procedures, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third
person, by contacting Account Debtors (only during the existence of an Event Default) or the third person possessing such Collateral for the purpose of making such a verification. The Administrative Agent shall have the absolute right to share any
information it gains from such inspection or verification with any Secured Party. 
  
 (d) Notwithstanding anything to the contrary in this Agreement or any other Collateral Document, this Agreement shall be subject to the
provisions of Section 6.12(c) of the Credit Agreement. 
  

 11 

 SECTION 8. Post-Closing Changes; Bailees; Collections on Assigned Agreements and
Accounts. 
  
 (a) No Grantor will change its
name, type of organization, jurisdiction of organization, organizational identification number (if any) or location from those set forth in Schedule I hereto without first giving at least 5 days’ (or such lesser period of time as the
Administrative Agent may agree) prior written notice to the Administrative Agent and taking all action reasonably required by the Administrative Agent for the purpose of perfecting or protecting the security interest granted by this Agreement.

  
 (b) During the continuation of an Event of
Default, if any Collateral of any Grantor is at any time in the possession or control of a warehouseman, bailee or agent the Company will promptly notify the Administrative Agent and, upon the request of the Administrative Agent, such Grantor will
(i) notify such warehouseman, bailee or agent of the security interest created hereunder and (ii) instruct such warehouseman, bailee or agent to hold all such Collateral solely for the Administrative Agent’s account subject only to the
Administrative Agent’s instructions. 
  
 (c)
Except as otherwise provided in this subsection (c), each Grantor will continue to collect, at its own expense, all amounts due or to become due such Grantor under the Accounts. In connection with such collections, such Grantor may take (and, at the
Administrative Agent’s direction during the continuation of an Event of Default, shall take) such commercially reasonable actions as such Grantor (or the Administrative Agent) may deem reasonably necessary or advisable to enforce collection
thereof; provided that the Administrative Agent shall have the right, at any time upon the occurrence and during the continuance of an Event of Default and upon written notice to such Grantor of its intention to do so, to notify the obligors
under any Accounts of the assignment of such Accounts to the Administrative Agent and to direct such obligors to make payment of all amounts due or to become due to such Grantor thereunder directly to the Administrative Agent and, upon such
notification and at the expense of such Grantor, to enforce collection of any such Accounts, to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Grantor might have done, and to otherwise
exercise all rights with respect to such Accounts, including, without limitation, those set forth in Section 9-607 of the UCC. After receipt by any Grantor of the notice from the Administrative Agent referred to in the proviso to the preceding
sentence, all amounts and Proceeds (including, without limitation, Instruments) received by such Grantor in respect of the Accounts of such Grantor shall be received in trust for the benefit of the Administrative Agent hereunder, shall be segregated
from other funds of such Grantor and shall be either (A) released to such Grantor to the extent permitted under the terms of the Credit Agreement so long as no Event of Default shall have occurred and be continuing or (B) if any Event of Default
shall have occurred and be continuing, applied as provided in Section 8.04 of the Credit Agreement. 
  
 SECTION 9. As to Intellectual Property Collateral. 
  
 (a) Except to the extent failure to act could not reasonably be expected to have a Material Adverse Effect,
with respect to registration or pending application of each item of its Intellectual Property Collateral for which such Grantor has standing to do so, each Grantor 

  

 12 

 
agrees to take, at its expense, all steps, including, without limitation, in the U.S. Patent and Trademark Office, the U.S. Copyright Office and any other
governmental authority located in the United States, to (i) maintain the validity and enforceability of any registered Intellectual Property Collateral (or applications therefor) and maintain such Intellectual Property Collateral in full force and
effect, and (ii) pursue the registration and maintenance of each Patent, Trademark, or Copyright registration or application, now or hereafter included in such Intellectual Property Collateral of such Grantor, including, without limitation, the
payment of required fees and taxes, the filing of responses to office actions issued by the U.S. Patent and Trademark Office, the U.S. Copyright Office or other governmental authorities, the filing of applications for renewal or extension, the
filing of affidavits under Sections 8 and 15 of the U.S. Trademark Act, the filing of divisional, continuation, continuation-in-part, reissue and renewal applications or extensions, the payment of maintenance fees and the participation in
interference, reexamination, opposition, cancellation, infringement and misappropriation proceedings. 
  
 (b) Except as could not be reasonably expected to have a Material Adverse Effect, no Grantor shall do or permit any act or knowingly omit
to do any act whereby any of its Intellectual Property Collateral may lapse, be terminated, or become invalid or unenforceable or placed in the public domain (or in case of a trade secret, lose its competitive value). 
  
 (c) Except where failure to do so could not reasonably be
expected to cause a Material Adverse Effect, each Grantor shall take all steps to preserve and protect each item of its Intellectual Property Collateral, including, without limitation, maintaining the quality of any and all products or services used
or provided in connection with any of the Trademarks, consistent with the quality of the products and services as of the date hereof, and taking all steps necessary to ensure that all licensed users of any of the Trademarks abide by the applicable
license’s terms with respect to the standards of quality. 
  
 (d) Each Grantor agrees that, should it obtain an ownership or other interest in any Intellectual Property Collateral after the Closing Date (“After-Acquired Intellectual Property”) (i) the provisions
of this Agreement shall automatically apply thereto, and (ii) any such After-Acquired Intellectual Property and, in the case of Trademarks, the goodwill symbolized thereby, shall automatically become part of the Intellectual Property Collateral
subject to the terms and conditions of this Agreement with respect thereto. 
  
 (e) Once every fiscal quarter of the Company, with respect to issued or registered Patents (or published applications therefor), registered Trademarks (or applications therefor) and registered Copyrights, each Grantor
shall sign and deliver to the Administrative Agent an appropriate Intellectual Property Security Agreement (suitable for recording in the U.S. Patent and Trademark Office or the U.S. Copyright Office, as applicable) with respect to all applicable
Intellectual Property owned or exclusively licensed by it as of the last day of such period, to the extent that such Intellectual Property is not covered by any previous Intellectual Property Security Agreement so signed and delivered by it. In each
case, it will promptly cooperate as reasonably necessary to enable the Administrative Agent to make any necessary or reasonably desirable recordations with the U.S. Copyright Office or the U.S. Patent and Trademark Office, as appropriate.

  

 13 

 (f) Upon the occurrence and during the continuance of an Event of Default, each Grantor
shall, at the request of the Administrative Agent, use its reasonable best efforts to obtain all requisite consents or approvals by the licensor of each license agreement or other similar agreement granting such Grantor any right under any
Copyright, Patent or Trademark, to effect the assignment of all such Grantor’s right, title and interest thereunder to the Administrative Agent or its designee. 
  
 (g) Nothing in this Agreement prevents any Grantor from discontinuing the use or maintenance of any of its
Intellectual Property Collateral if such Grantor determines in its reasonable business judgment that such discontinuance is desirable in the conduct of its business. 
  
 SECTION 10. Voting Rights; Dividends; Etc. (a) So long as no Event of Default shall have occurred and
be continuing: 
  
 (i) Each Grantor shall be
entitled to exercise any and all voting and other consensual rights pertaining to the Security Collateral of such Grantor or any part thereof for any purpose; provided that such Grantor will not exercise or refrain from exercising any such
right if such action would have a material adverse effect on the value of the Security Collateral or any part thereof or is of any nature that might prohibit, impair, delay or otherwise affect the pledge of any Security Collateral hereunder, the
sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder in respect thereof. 
  
 (ii) Each Grantor shall be entitled to receive and retain any and all dividends, interest and other distributions paid in respect of the
Security Collateral of such Grantor if and to the extent that the payment thereof is not otherwise prohibited by the terms of the Loan Documents; provided that any and all non-cash dividends, interest and other distributions paid or payable
in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for, any Security Collateral, shall be, and shall be forthwith delivered to the Administrative Agent to hold as, Security
Collateral and shall, if received by such Grantor, be received in trust for the benefit of the Administrative Agent, be segregated from the other property or funds of such Grantor and be forthwith delivered to the Administrative Agent as Security
Collateral in the same form as so received (with any necessary endorsement). 
  
 (iii) The Administrative Agent will execute and deliver (or cause to be executed and delivered) to each Grantor all such proxies and other instruments as such Grantor may reasonably request for the purpose of enabling
such Grantor to exercise the voting and other rights that it is entitled to exercise pursuant to paragraph (i) above and to receive the dividends or interest payments that it is authorized to receive and retain pursuant to paragraph (ii) above.

  

 14 

 (b) Upon the occurrence and during the continuance of an Event of Default: 
  
 (i) All rights of each Grantor (x) to exercise or refrain
from exercising the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to Section 10(a)(i) shall, upon notice to such Grantor by the Administrative Agent, cease and (y) to receive the dividends, interest and
other distributions that it would otherwise be authorized to receive and retain pursuant to Section 10(a)(ii) shall automatically cease, and all such rights shall thereupon become vested in the Administrative Agent, which shall thereupon have the
sole right to exercise or refrain from exercising such voting and other consensual rights and to receive and hold as Security Collateral such dividends, interest and other distributions. 
  
 (ii) All dividends, interest and other distributions that are received by any Grantor contrary to the
provisions of paragraph (i) of this Section 10(b) shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent as Security
Collateral in the same form as so received (with any necessary endorsement). 
  
 SECTION 11. Transfers and Other Liens; Additional Shares; LLC/Partnership Interests. 
  
 (a) Each Grantor agrees that it will not (i) sell, license, exchange, assign or otherwise transfer or dispose of, or grant any rights or
options with respect to, any of the Collateral, except to the extent permitted under the Credit Agreement, or (ii) create or suffer to exist any Lien upon or with respect to any of the Collateral of such Grantor except for the pledge, assignment and
security interest created under this Agreement and other Liens permitted under the Credit Agreement. 
  
 (b) Each Grantor agrees that (i) if any Existing LLC/Partnership Interest controlled by such Grantor shall become represented by a
certificate, it shall cause such certificate to be promptly delivered to the Administrative Agent and shall cause the applicable limited liability company or partnership agreement to be amended so as to treat the Equity Interest represented by such
certificate as a “security” within the meaning of Article 8 of the UCC and to provide that such security shall be governed by Article 8 of the UCC and (ii) each interest in any limited liability company or partnership acquired by such
Grantor after the date hereof shall be represented by a certificate (which shall be promptly delivered to the Administrative Agent after such Grantor’s acquisition thereof), shall be a “security” within the meaning of Article 8 of the
UCC and shall be governed by Article 8 of the UCC. 
  
 SECTION 12. Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney in fact, with full authority in the place and stead of such Grantor and in
the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuance of an Event of Default, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative
Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: 
  
 (a) to obtain and adjust insurance required to be paid to the Administrative Agent, 
  

 15 

 (b) to ask for, demand, collect, sue for, recover, compromise, receive and give
acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, 
  
 (c) to receive, indorse and collect any drafts or other instruments, documents and Chattel Paper, in connection with clause (a) or (b)
above, and 
  
 (d) to file any claims or take any
action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Assigned Agreement or the rights of
the Administrative Agent with respect to any of the Collateral. 
  
 SECTION 13. Administrative Agent May Perform. If any Grantor fails to perform any agreement contained herein, the Administrative Agent may, but without any obligation to do so and without notice, itself
perform, or cause performance of, such agreement. Without limiting the generality of the foregoing, (i) at its option, the Administrative Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances
at any time levied or placed on the Collateral and not permitted pursuant to Section 7.01 of the Credit Agreement, and may pay for the maintenance and preservation of the Collateral to the extent any Grantor fails to do so as required by the Credit
Agreement or this Agreement, and each Grantor jointly and severally agrees to reimburse the Administrative Agent on demand for any payment made or any expense incurred by the Administrative Agent pursuant to the foregoing authorization
(provided, however, that nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Administrative Agent or any Secured Party to cure or perform, any covenants or
other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in the other Loan Documents) and (ii) in the event that any Grantor at any time
or times shall fail to obtain or maintain any of the policies of insurance required under the Credit Agreement or to pay any premium in whole or part relating thereto, the Administrative Agent may, without waiving or releasing any obligation or
liability of the Grantors hereunder or any Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the Administrative Agent deems advisable in
its reasonable judgment. All sums disbursed by the Administrative Agent in connection with this paragraph, including attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to
the Administrative Agent and shall be additional Obligations secured hereby. 
  
 SECTION 14. Administrative Agent’s Duties. The powers conferred on the Administrative Agent hereunder are solely to protect the Secured Parties’ interest in the Collateral and shall not impose
any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Administrative Agent shall have no duty as to any Collateral, as to
ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters 

  

 16 

 
relative to any Collateral, whether or not any Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps
to preserve rights against any parties or any other rights pertaining to any Collateral. The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such
Collateral is accorded treatment substantially equal to that which it accords its own property, and will not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the value thereof, by reason of any act or
omission of any sub-agent or bailee selected by the Administrative Agent in good faith, except to the extent that such liability arises from the Administrative Agent’s gross negligence or willful misconduct. 
  
 SECTION 15. Remedies. If any Event of Default shall
have occurred and be continuing: 
  
 (a) The
Administrative Agent may exercise in respect of the Collateral, in addition to other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party upon default under the UCC (whether or not the
UCC applies to the affected Collateral) and also may: (i) require each Grantor to, and each Grantor hereby agrees that it will at its expense and upon request of the Administrative Agent forthwith, assemble all or part of the Collateral as directed
by the Administrative Agent and make it available to the Administrative Agent at a place and time to be designated by the Administrative Agent that is reasonably convenient to both parties; (ii) without notice except as specified below, sell the
Collateral or any part thereof in one or more parcels at public or private sale, at any of the Administrative Agent’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Administrative Agent may
deem commercially reasonable; (iii) occupy any premises owned or, to the extent lawful and permitted, leased by any of the Grantors where the Collateral or any part thereof is assembled or located in order to effectuate its rights and remedies
hereunder or under law, without obligation to such Grantor in respect of such occupation; and (iv) exercise any and all rights and remedies of any of the Grantors under or in connection with the Collateral, or otherwise in respect of the Collateral,
including, without limitation, (a) any and all rights of such Grantor to demand or otherwise require payment of any amount under, or performance of any provision of, the Assigned Agreements, the Accounts and the other Collateral, (b) withdraw, or
cause or direct the withdrawal, of all funds with respect to the Deposit Accounts and (c) exercise all other rights and remedies with respect to the Assigned Agreements, the Accounts and the other Collateral, including, without limitation, those set
forth in Section 9-607 of the UCC. The Administrative Agent shall give the applicable Grantors at least ten (10) Business Days’ written notice of the time and place of any public sale or the time after which any private sale is to be made and
each Grantor agrees that such notice shall constitute reasonable notification. The Administrative Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Administrative Agent may adjourn any
public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor recognizes that in light of such
applicable restrictions and limitations arising under Federal and state securities laws, the Administrative Agent may, with respect to any sale of the Pledged Equity, limit the purchasers to those who will agree, among other things, to acquire such
Pledged Equity for their own account, for investment, and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of such restrictions and limitations (i) the Administrative Agent, in its sole and
absolute 

  

 17 

 
discretion (x) may proceed to make such a private sale whether or not a registration statement for the purpose of registering such Pledged Equity or part
thereof shall have been filed under the Federal or applicable state securities laws and (y) may approach and negotiate with such number of purchasers as the Administrative Agent determines to be reasonable to effect such sale and (ii) any such sale
might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Administrative Agent shall incur no responsibility or liability for selling all or
any part of the Pledged Equity at a price that the Administrative Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have
been realized if the sale were deferred until after registration as aforesaid or if more than a single purchaser were approached. 
  
 (b) All payments received by any Grantor under or in connection with any Assigned Agreement or otherwise in respect of the Collateral
shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as so received (with any necessary
endorsement). 
  
 (c) The Administrative Agent
may, without notice to any Grantor except as required by law and at any time or from time to time, charge, set off and otherwise apply all or any part of the Secured Obligations against any funds held with respect to any Deposit Account. 

 
 (d) If the Administrative Agent shall determine to
exercise its right to sell all or any of the Security Collateral of any Grantor pursuant to this Section 15, each Grantor agrees that, upon request of the Administrative Agent, such Grantor will, at its own expense, do or cause to be done all such
other acts and things as may be necessary to make such sale of such Security Collateral or any part thereof valid and binding and in compliance with applicable law. 
  
 (e) The Administrative Agent is authorized, in connection with any sale of the Security Collateral pursuant
to this Section 15, to deliver or otherwise disclose to any prospective purchaser of the Security Collateral: (i) any registration statement or prospectus, and all supplements and amendments thereto; (ii) any information and projections; and (iii)
any other information in its possession relating to such Security Collateral. 
  
 (f) Each Grantor acknowledges the impossibility of ascertaining the amount of damages that would be suffered by the Secured Parties by reason of the failure by such Grantor to perform any of the covenants contained in
subsection (d) above and, consequently, agrees that, if such Grantor shall fail to perform any of such covenants, it will pay, as liquidated damages and not as a penalty, an amount equal to the value of the Security Collateral upon demand by the
Administrative Agent of compliance with subsection (d) above. 
  
 SECTION 16. Indemnity and Expenses. 
  
 (a) Each Grantor agrees to indemnify, defend and save and hold harmless each Secured Party and each of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an
“Indemnified Party”) from and against, and shall pay on demand, any and all claims, damages, losses, liabilities and expenses (including, without limitation, 

  

 18 

 
reasonable fees and expenses of counsel that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in
connection with or resulting from this Agreement (including, without limitation, enforcement of this Agreement)), except to the extent such claim, damage, loss, liability or expense has resulted from such Indemnified Party’s gross negligence or
willful misconduct. 
  
 (b) Each Grantor will
upon demand pay to the Administrative Agent the amount of any and all reasonable out-of-pocket expenses, including, without limitation, the reasonable fees and expenses of its counsel and of any experts and agents, that the Administrative Agent may
incur in connection with (i) the administration of this Agreement, or (ii) the custody, preservation, use or operation of, or the sale of, collection from or other realization upon, any of the Collateral of such Grantor. 
  
 (c) Each Grantor will upon demand pay to the Administrative
Agent the amount of any and all out-of-pocket expenses, including, without limitation, the fees, disbursements and other charges of counsel in connection with (i) the exercise or enforcement of any of the rights of the Administrative Agent or the
other Secured Parties hereunder or (ii) the failure by such Grantor to perform or observe any of the provisions hereof. 
  
 (d) Any such amounts payable as provided under this Section 16 shall be additional Obligations secured hereby and by the other Security
Documents. The provisions of this Section 16 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of
any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent or any other Secured Party. All amounts due under
this Section 16 shall be payable on written demand therefor and shall bear interest at the rate specified in Section 2.08(a)(ii) of the Credit Agreement. 
  
 SECTION 17. Amendments; Waivers; Additional Grantors; Etc. 
  
 (a) No amendment or waiver of any provision of this Agreement, and no consent to any departure by any
Grantor herefrom, shall in any event be effective unless the same shall be in writing and signed by each Grantor to which such amendment or waiver is to apply and the Administrative Agent (with the consent of the requisite number of Lenders
specified in the Credit Agreement), and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No failure on the part of the Administrative Agent or any other 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. 
  
 (b) Upon the execution and delivery, or authentication, by
any Person of a security agreement supplement in substantially the form of Exhibit A hereto (each a “Security Agreement Supplement”), (i) such Person shall be referred to as an “Additional Grantor” and shall be and
become a Grantor hereunder, and each reference in this Agreement and the other Loan Documents to “Grantor” shall also mean and be a reference to such Additional Grantor, and each reference in this Agreement and the other Loan Documents to
“Collateral” shall also 

  

 19 

 
mean and be a reference to the Collateral of such Additional Grantor, and (ii) the supplemental schedules I through VI attached to each Security Agreement
Supplement shall be incorporated into and become a part of and supplement Schedules I through VI, respectively, hereto, and the Administrative Agent may attach such supplemental schedules to such Schedules; and each reference to such Schedules shall
mean and be a reference to such Schedules as supplemented pursuant to each Security Agreement Supplement. 
  
 SECTION 18. Notices, Etc. All notices and other communications provided for hereunder shall be in writing (including telegraphic or
telecopy communication or facsimile transmission) and mailed, telegraphed, telecopied, telexed, faxed or delivered to it, if to any Grantor, addressed to it in care of the Company at the Company’s address specified in Schedule 10.02 of the
Credit Agreement, if to the Administrative Agent, at its address specified in Schedule 10.02 of the Credit Agreement. All such notices and other communications shall be deemed to be given or made at such time as shall be set forth in Section 10.02
of the Credit Agreement. Delivery by telecopier of an executed counterpart of any amendment or waiver of any provision of this Agreement or of any Security Agreement Supplement or Schedule hereto shall be effective as delivery of an original
executed counterpart thereof. 
  
 SECTION 19.
Continuing Security Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in
full in cash of the Secured Obligations other than Obligations with respect to Secured Hedge Agreements and Cash Management Obligations not yet due and payable, (ii) the Maturity Date of the Term Loan Facility and (iii) the cash collateralization or
back-stop (on terms reasonably satisfactory to the Administrative Agent), termination or expiration of all Letters of Credit, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the
Administrative Agent hereunder, to the benefit of the Secured Parties and their permitted respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender may assign or otherwise transfer all or
any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Loans owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person
shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise, in each case as provided in Section 10.07 of the Credit Agreement. 
  
 SECTION 20. Release; Termination. 
  
 (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of any Grantor permitted
by, and in accordance with, the terms of the Loan Documents to any Person other than Holdings, the Company or any Domestic Subsidiary that is a Restricted Subsidiary or upon the effectiveness of any consent to the release of the security interest
granted hereby in any Collateral pursuant to Section 9.11 of the Credit Agreement, the Lien created under this Agreement on such Collateral (but not on any Proceeds thereof) shall automatically terminate. Upon the release of any Grantor from its
Guaranty, if any, in accordance with the terms of the Loan Documents, the Lien created under this Agreement on the Collateral of such Grantor shall automatically terminate and such Grantor shall automatically be released from its obligations
hereunder. The Administrative Agent will, at such Grantor’s expense, execute and 

  

 20 

 
deliver to such Grantor such documents as such Grantor shall reasonably request to evidence any release of the Lien created under this Agreement on any
Collateral pursuant to this Section 20(a); provided that such Grantor shall have delivered to the Administrative Agent a written request therefor describing the item of Collateral and the terms of the sale, lease, transfer or other
disposition in reasonable detail, and a certificate of such Grantor to the effect that the transaction is in compliance with the Loan Documents and as to such other matters as the Administrative Agent may request. The Administrative Agent shall be
authorized to rely on any such certificate without independent investigation. 
  
 (b) Upon the latest of (i) the payment in full in cash of the Secured Obligations other than Obligations with respect to Secured Hedge Agreements and Cash Management Obligations not yet due and payable and contingent
indemnification obligations not yet accrued and payable, (ii) the Maturity Date of the Term Loan Facility and (iii) the cash collateralization or back-stop (on terms reasonably satisfactory to the Administrative Agent), termination or expiration of
all Letters of Credit, the Lien on all Collateral created under this Agreement shall terminate and all rights to the Collateral shall revert to the applicable Grantor. Upon any such termination, the Administrative Agent will, at the applicable
Grantor’s expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination. 
  
 SECTION 21. Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by telecopier shall be effective as delivery of an
original executed counterpart of this Agreement. 
  
 SECTION 22. The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of
this Agreement, then with respect to such Collateral, the terms of such Mortgage shall be controlling in the case of Fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and
the terms of this Agreement shall be controlling in the case of all other Collateral. 
  
 SECTION 23. Governing Law; Jurisdiction; Waiver of Jury Trial, Etc. 
  
 (a) This Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York. 
  
 (b) ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT,
EACH GRANTOR CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH GRANTOR IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE
OR BASED ON THE GROUNDS OF FORUM  

  

 21 

 
NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR
OTHER DOCUMENT RELATED THERETO. 
  
 (c) EACH
GRANTOR HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW ALL RIGHT TO TRIAL BY JURY IN ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN
DOCUMENTS OR THE TRANSACTIONS RELATED THERETO. 
  
 SECTION 24. Severability. If any provision of any Loan Document is invalid or unenforceable in any jurisdiction, then, to the fullest extent permitted by law, (i) the other provisions of the Loan Documents shall remain in full
force and effect in such jurisdiction and shall be liberally construed in favor of the Administrative Agent and the Secured Parties in order to carry out the intentions of the parties thereto as nearly as may be possible and (ii) the invalidity or
unenforceability of such provision in such jurisdiction shall not affect the validity or enforceability thereof in any other jurisdiction. 
  
 [Signature Pages to Follow] 
  

 22 

 IN WITNESS WHEREOF, each Grantor has caused this Agreement to be duly executed and delivered by its
officer thereunto duly authorized as of the date first above written. 
  

			
	 LCE ACQUISITION CORPORATION,

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 

  

			
	 LCE HOLDCO, LLC,

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 

  

					
	 LOEWS CINEPLEX ENTERTAINMENT CORPORATION,

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 
	
	 71ST & 3RD AVE. CORP.

	 BRICK PLAZA CINEMAS, INC.

	 CITYPLACE CINEMAS, INC.

	 CRESCENT ADVERTISING CORPORATION

	 CRESTWOOD CINEMAS, INC.

  

					
	 DOWNTOWN BOSTON CINEMAS, LLC

	 ETON AMUSEMENT CORPORATION

	 FALL RIVER CINEMA, INC.

	 FARMERS CINEMAS, INC.

	 FORTY-SECOND STREET CINEMAS, INC.

	 FOUNTAIN CINEMAS, INC.

	 GATEWAY CINEMAS, LLC

	 HAWTHORNE AMUSEMENT CORPORATION

	 HINSDALE AMUSEMENT CORPORATION

	 ILLINOIS CINEMAS, INC.

	 JERSEY GARDEN CINEMAS, INC.

	 KIPS BAY CINEMAS, INC.

	 LANCE THEATRE CORPORATION

	 LCE ACQUISITIONSUB, INC.

	 LCE MEXICAN HOLDINGS, INC.

	 LEWISVILLE CINEMAS, LLC

	 LIBERTY TREE CINEMA CORP.

	 LOEKS ACQUISITION CORP.

	 LOEKS-STAR PARTNERS

	 LOEWS AKRON CINEMAS, INC.

	 LOEWS ARLINGTON CINEMAS, INC.

	 LOEWS ARLINGTON WEST CINEMAS, INC.

	 LOEWS ASTOR PLAZA, INC.

	 LOEWS BALTIMORE CINEMAS, INC.

	 LOEWS BAY TERRACE CINEMAS, INC.

	 LOEWS BEREA CINEMAS, INC.

	 LOEWS BOULEVARD CINEMAS, INC.

	 LOEWS BRISTOL CINEMAS, INC.

	 LOEWS BROADWAY CINEMAS, INC.

	 LOEW’S CALIFORNIA THEATRES, INC.

	 LOEWS CENTERPARK CINEMAS, INC.

	 LOEWS CENTURY MALL CINEMAS, INC.

	 LOEWS CHERI CINEMAS, INC.

	 LOEWS CHERRY TREE MALL CINEMAS, INC.

	 LOEWS CHICAGO CINEMAS, INC.

	 LOEWS CINEPLEX ENTERTAINMENT GIFT CARD CORPORATION

  

					
	 LOEWS CINEPLEX INTERNATIONAL HOLDINGS, INC.

	 LOEWS CINEPLEX THEATRES INC.

	 LOEWS CINEPLEX THEATRES HOLDCO, INC.

	 LOEWS CINEPLEX US CALLCO, LLC

	 LOEWS CITYWALK THEATRE CORPORATION

	 LOEWS CONNECTICUT CINEMAS, INC.

	 LOEWS CRYSTAL RUN CINEMAS, INC.

	 LOEWS DEAUVILLE NORTH CINEMAS, INC.

	 LOEWS EAST HANOVER CINEMAS, INC.

	 LOEWS EAST VILLAGE CINEMAS, INC.

	 LOEWS ELMWOOD CINEMAS, INC.

	 LOEWS FORT WORTH CINEMAS, INC.

	 LOEWS FREEHOLD MALL CINEMAS, INC.

	 LOEWS FRESH POND CINEMAS, INC.

	 LOEWS GARDEN STATE CINEMAS, LLC

	 LOEWS GREENWOOD CINEMAS, INC.

	 LOEWS HOUSTON CINEMAS, INC.

	 LOEWS LAFAYETTE CINEMAS, INC.

	 LOEWS LEVITTOWN CINEMAS, INC.

	 LOEWS LINCOLN PLAZA CINEMAS, INC.

	 LOEWS LINCOLN THEATRE HOLDING CORP.

	 LOEWS MEADOWLAND CINEMAS 8, INC.

	 LOEWS MEADOWLAND CINEMAS, INC.

	 LOEWS MERRILLVILLE CINEMAS, INC.

	 LOEWS MONTGOMERY CINEMAS, INC.

	 LOEWS MOUNTAINSIDE CINEMAS, INC.

  

					
	 LOEWS NEW JERSEY CINEMAS, INC.

	 LOEWS NEWARK CINEMAS, INC.

	 LOEWS NORTH VERSAILLES CINEMAS, LLC

	 LOEWS ORPHEUM CINEMAS, INC.

	 LOEWS PALISADES CENTER CINEMAS, INC.

	 LOEWS PENTAGON CITY CINEMAS, INC.

	 LOEWS PIPER’S THEATERS, INC.

	 LOEWS PLAINVILLE CINEMAS, LLC

	 LOEWS RICHMOND MALL CINEMAS, INC.

	 LOEWS RIDGEFIELD PARK CINEMAS, INC.

	 LOEWS ROLLING MEADOWS CINEMAS, INC.

	 LOEWS ROOSEVELT FIELD CINEMAS, INC.

	 LOEWS STONYBROOK CINEMAS, INC.

	 LOEWS THEATRE MANAGEMENT CORP.

	 LOEWS THEATRES CLEARING CORP.

	 LOEWS TOMS RIVER CINEMAS, INC.

	 LOEWS TRYLON THEATRE, INC.

	 LOEWS USA CINEMAS INC.

	 LOEWS VESTAL CINEMAS, INC.

	 LOEWS WASHINGTON CINEMAS, INC.

	 LOEWS WEST LONG BRANCH CINEMAS, INC.

	 LOEWS-HARTZ MUSIC MAKERS THEATRES, INC.

	 LTM NEW YORK, INC.

	 LTM NEW YORK, INC. TURKISH HOLDINGS, INC.

	 METHUEN CINEMAS, LLC

	 MID-STATES THEATRES, INC.

	 MUSIC MAKERS THEATRES, INC.

	 NEW BRUNSWICK CINEMAS, INC.

	 NICKELODEON BOSTON, INC.

	 NORTH STAR CINEMAS, INC.

	 OHIO CINEMAS, LLC

  

					
	 PARKCHESTER AMUSEMENT CORPORATION

	 PARSIPPANY THEATRE CORP.

	 PLITT SOUTHERN THEATRES, INC.

	 PLITT THEATRES, INC.

	 POLI-NEW ENGLAND THEATRES, INC.

	 PUTNAM THEATRICAL CORPORATION

	 RED BANK THEATRE CORPORATION

	 RICHMOND MALL CINEMAS, LLC

	 RKO CENTURY WARNER THEATRES, INC.

	 ROSEMONT CINEMAS, INC.

	 S&J THEATRES INC.

	 SACK THEATRES, INC.

	 SKOKIE CINEMAS, INC.

	 SOUTH HOLLAND CINEMAS, INC.

	 SPRINGFIELD CINEMAS, LLC

	 STAR THEATRES OF MICHIGAN, INC.

	 STAR THEATRES, INC.

	 STROUD MALL CINEMAS, INC.

	 TALENT BOOKING AGENCY, INC.

	 THE WALTER READE ORGANIZATION, INC.

	 THEATER HOLDINGS, INC.

	 THIRTY-FOURTH STREET CINEMAS, INC.

	 U.S.A. CINEMAS, INC.

	 WATERFRONT CINEMAS, LLC

	 WEBSTER CHICAGO CINEMAS, INC.

	 WHITE MARSH CINEMAS, INC.

	 WOODFIELD CINEMAS, INC.

	WOODRIDGE CINEMAS, INC.,

  

			
		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 

  

			
	 CITICORP NORTH AMERICA, INC., as Administrative Agent

		
	 	 	 
	 	 	 Name:

	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 

  

  
 Schedule I to the

 Security Agreement 
  
 CHIEF EXECUTIVE OFFICE, TYPE OF ORGANIZATION, JURISDICTION OF 
 ORGANIZATION AND ORGANIZATIONAL IDENTIFICATION NUMBER 
  

									
	 Grantor

	 	 Chief
 Executive
 Office

	 	 Type of
 Organization

	  	Jurisdiction of
Organization

	  	 Organizational
 I.D. No.

  

  
 Schedule II to the

 Security Agreement 
  
 PLEDGED EQUITY 
  

													
	 Grantor

	 	 Issuer

	 	 Class of
 Equity Interest

	  	Par Value (if
applicable)

	  	 Certificate
 No(s)

	  	 Number
 of Shares

	  	 Percentage of
 Outstanding
Shares

	 	 	 	 	 	  	 	  	 	  	 	  	 
	 	 	 	 	 	  	 	  	 	  	 	  	 
	 	 	 	 	 	  	 	  	 	  	 	  	 
	 	 	 	 	 	  	 	  	 	  	 	  	 
	 	 	 	 	 	  	 	  	 	  	 	  	 
	 	 	 	 	 	  	 	  	 	  	 	  	 

  

  
 Schedule III to the

 Security Agreement 
  
 PLEDGED INTERCOMPANY NOTES 
  

									
	 Grantor

	 	 Issuer

	 	 Principal
 Amount

	  	 Date of
 Note

	  	Maturity Date

	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 
	 	 	 	 	 	  	 	  	 

  

  
 Schedule IV to the

 Security Agreement 
  
 INTELLECTUAL PROPERTY 
  

  
 Schedule V to the

 Security Agreement 
  
 COMMERCIAL TORT CLAIMS 
  
 [Describe nature of claim(s)-see Comment 5 to UCC Section 9-108] 
  

  
 Schedule VI to the

 Security Agreement 
  
 COLLATERAL DESCRIPTION 
  
 “All personal property, whether now owned or hereafter acquired or arising.” 
  

  
 Exhibit A to the

 Security Agreement 
  
 FORM OF SECURITY AGREEMENT SUPPLEMENT 
  
 [Date of Security Agreement Supplement] 
  

	Citicorp	North America, Inc. 

 as the Administrative Agent for the

 Secured Parties referred to in the 
 Credit Agreement referred to below 
  
 ______________________ 

______________________ 
 Attn: __________________ 
  
 LOEWS CINEPLEX ENTERTAINMENT CORPORATION 
  
 Ladies and Gentlemen: 
  
 Reference is made to (i) the Credit Agreement dated as of July 30, 2004 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Loews Cineplex Entertainment Corporation, a Delaware corporation (as successor by merger to LCE Acquisition Corporation, a Delaware corporation), Grupo Cinemex,
S.A. de C.V., a Mexican corporation and Cadena Mexicana de Exhibición, S.A. de C.V., a Mexican corporation, LCE Holdco, LLC, a Delaware limited liability company (“Holdings”), the Lenders party thereto, Citicorp North
America, Inc., as the L/C Issuer, the Swing Line Lender and the Administrative Agent (together with any successor administrative agent, the “Administrative Agent”), and the other Agents named therein, and (ii) the Security Agreement
dated as of July 30, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) made by the Grantors from time to time party thereto in favor of the Administrative Agent
for the Secured Parties. Terms defined in the Credit Agreement or the Security Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement. 
  
 Section 1. Grant of Security. The undersigned hereby pledges (if
applicable) to and grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in, all of its right, title and interest in and to all of the Collateral of the undersigned, whether now owned or hereafter
acquired by the undersigned, wherever located and whether now or hereafter existing or arising, including, without limitation, the property and assets of the undersigned set forth on the attached supplemental schedules to the Schedules to the
Security Agreement. 
  
 Section 2. Security for
Obligations. The grant of a security interest in the Collateral by the undersigned under this Security Agreement Supplement and the Security Agreement secures the payment of all Obligations of the undersigned now or hereafter existing 

  

 
under or in respect of the Finance Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations,
interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 
  
 Section 3. Supplements to Security Agreement Schedules. The undersigned has attached hereto supplemental Schedules I through VI to Schedules I
through VI, respectively, to the Security Agreement, and the undersigned hereby certifies, as of the date first above written, that such supplemental schedules have been prepared by the undersigned in substantially the form of the equivalent
Schedules to the Security Agreement and are complete and correct in all material respects. 
  
 Section 4. Representations and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Security Agreement (as supplemented by the attached supplemental schedules)
as of the date hereof. 
  
 Section 5. Obligations Under the
Security Agreement. The undersigned hereby agrees, as of the date first above written, to be bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned
further agrees, as of the date first above written, that each reference in the Security Agreement to an “Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned. 
  
 Section 6. Governing Law. This Security Agreement Supplement shall be
governed by, and construed in accordance with, the laws of the State of New York. 
  

			
	 Very truly yours,

	
	 [NAME OF ADDITIONAL GRANTOR]

		
	 By:
	 	 
	 	 	 Title:

		
	 	 	 Address for Notices:

		
	 	 	 
		
	 	 	 
		
	 	 	 

  

 2 

  
 Exhibit B to the

 Security Agreement 
  
 FORM OF COPYRIGHT SECURITY AGREEMENT 
  
 This Copyright Security Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Copyright Security
Agreement”) dated                     , 20     is made by the Persons listed on the signature pages hereof
(collectively, the “Grantors”) in favor of Citicorp North America, Inc., as administrative agent (the “Administrative Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below).

  
 WHEREAS, LCE Acquisition Corporation, a Delaware corporation
(to be merged with and into Loews Cineplex Entertainment Corporation, a Delaware corporation), has entered into a Credit Agreement dated as of July 30, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) with LCE Holdco, LLC, a Delaware limited liability company (“Holdings”), Grupo Cinemex, S.A. de C.V., a Mexican corporation, Cadena Mexicana de Exhibición, S.A. de C.V., a Mexican
corporation, Citicorp North America, Inc., as the L/C Issuer, the Swing Line Lender and the Administrative Agent, the other Agents named therein and the Lenders party thereto. 
  
 WHEREAS, as a condition precedent to the making of the Loans and the issuance of Letters of Credit by the Lenders under the
Credit Agreement and entry into Secured Hedge Agreements by the Hedge Banks from time to time, each Grantor has executed and delivered that certain Security Agreement dated as of July 30, 2004 made by the Grantors to the Administrative Agent (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”). Terms defined in the Security Agreement and not otherwise defined herein are used herein as defined in the Security
Agreement. 
  
 WHEREAS, under the terms of the Security Agreement,
the Grantors have granted to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in, among other property, certain Copyrights of the Grantors, and have agreed as a condition thereof to execute this Copyright
Security Agreement for recording with the U.S. Copyright Office and any other appropriate governmental authorities. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees as follows:

  
 Section 1. Grant of Security. Each Grantor hereby
grants to the Administrative Agent for the ratable benefit of the Secured Parties a continuing security interest in all of such Grantor’s right, title and interest in and to the following (all of the following items or types of property being
herein collectively referred to as the “Copyright Collateral”), whether now owned or existing or hereafter acquired or arising: 
  
 (i) each Copyright owned by the Grantor, including, without limitation, each Copyright registration and application therefor, referred to
in Schedule 1 hereto; 
  

 (ii) each exclusive Copyright license to which the Grantor is a party, including, without
limitation, each Copyright license referred to in Schedule 1 hereto; 
  
 (iii) all registrations and applications for registration for any of the foregoing; 
  
 (iv) all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world
and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; and 
  
 (v) any and all Proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and
Supporting Obligations relating to, any and all of the foregoing, including, without limitation, all Proceeds of and revenues from any and all claims for damages and injunctive relief for past, present and future infringement, dilution,
misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, all proceeds and damages relating thereto. 
  
 Section 2. No Transfer of Grantor’s Rights. Except to the extent
expressly permitted in the Credit Agreement, each Grantor agrees not to sell, license, exchange, assign, or otherwise transfer or dispose of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Copyright Collateral.

  
 Section 3. Security for Obligations. The grant of
continuing security interest in the Copyright Collateral by each Grantor under this Copyright Security Agreement secures the payment of all Obligations of such Grantor, now or hereafter existing under or in respect of the Finance Documents, whether
direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 
  
 Section 4. Recordation. Each Grantor authorizes and requests that the
Register of Copyrights and any other applicable government officer record this Copyright Security Agreement. 
  
 Section 5. Execution in Counterparts. This Copyright Security Agreement may be executed in any number of counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 Section 6. Grants, Rights and Remedies. This Copyright Security Agreement has been executed and delivered by the Grantors for the purpose of
recording the grant of security interest herein with the U.S. Copyright Office. The security interest granted hereby has been granted to the Administrative Agent in connection with the Security Agreement and is expressly subject to the terms and
conditions thereof and does not modify its terms or conditions or create any additional rights or obligations for any party thereto or hereto. The Security Agreement (and all rights and remedies of the Administrative Agent thereunder) shall remain
in full force and effect in accordance with its terms. 
  
 Section
7. Governing Law. This Copyright Security Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 
  

 2 

 IN WITNESS WHEREOF, each Grantor has caused this Copyright Security Agreement to be duly executed and
delivered by its officer thereunto duly authorized as of the date first above written. 
  

			
	 LOEWS CINEPLEX ENTERTAINMENT CORPORATION

		
	By:	 	 
	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 
	
	 LCE HOLDCO, LLC,

		
	By:	 	 
	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 
	
	 [OTHER GRANTORS]

  

 3 

  
 Schedule 1 

To Copyright 
 Security Agreement

  
 COPYRIGHTS 
  

  
 Exhibit C to the

 Security Agreement 
  
 FORM OF PATENT SECURITY AGREEMENT 
  
 This Patent Security Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Patent Security
Agreement”) dated                     , 20     is made by the Persons listed on the signature pages hereof
(collectively, the “Grantors”) in favor of Citicorp North America, Inc., as administrative agent (the “Administrative Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below).

  
 WHEREAS, LCE Acquisition Corporation, a Delaware corporation
(to be merged with and into Loews Cineplex Entertainment Corporation, a Delaware corporation), has entered into a Credit Agreement dated as of July 30, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) with LCE Holdco, LLC, a Delaware limited liability company (“Holdings”), Grupo Cinemex, S.A. de C.V., a Mexican corporation, Cadena Mexican de Exhibición, S.A. de C.V., a Mexican
corporation, Citicorp North America, Inc., as the L/C Issuer, the Swing Line Lender and the Administrative Agent, the other Agents named therein and the Lenders party thereto. 
  
 WHEREAS, as a condition precedent to the making of the Loans and the issuance of Letters of Credit by the Lenders under the
Credit Agreement and entry into Secured Hedge Agreements by the Hedge Banks from time to time, each Grantor has executed and delivered that certain Security Agreement dated as of July 30, 2004 made by the Grantors to the Administrative Agent (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”). Terms defined in the Security Agreement and not otherwise defined herein are used herein as defined in the Security
Agreement. 
  
 WHEREAS, under the terms of the Security Agreement,
the Grantors have granted to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in, among other property, certain Patents of the Grantors, and have agreed as a condition thereof to execute this Patent
Security Agreement for recording with the U.S. Patent and Trademark Office and any other appropriate governmental authorities. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees as follows:

  
 Section 1. Grant of Security. Each Grantor hereby
grants to the Administrative Agent for the ratable benefit of the Secured Parties a continuing security interest in all of such Grantor’s right, title and interest in and to the following (all of the following items or types of property being
herein collectively referred to as the “Patent Collateral”), whether now owned or existing or hereafter acquired or arising: 
  
 (i) each Patent owned by the Grantor, including, without limitation, each Patent referred to in Schedule 1 hereto; 
  

 (ii) each Patent license to which the Grantor is a party, including, without limitation,
each Patent license referred to in Schedule 2 hereto; 
  
 (iii) all issuances and applications for registration for any of the foregoing, together with all reissues, divisions, continuations, continuations-in-part, extensions and reexaminations thereof; 
  
 (iv) all rights in the foregoing provided by international
treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; and 
  
 (v) any and all Proceeds of, collateral for, income, royalties and other payments now or hereafter due and
payable with respect to, and Supporting Obligations relating to, any and all of the foregoing, including, without limitation, all Proceeds of and revenues from any and all claims for damages and injunctive relief for past, present and future
infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, all proceeds and damages relating thereto. 

 
 Section 2. No Transfer of Grantor’s Rights. Except to the
extent expressly permitted in the Credit Agreement, each Grantor agrees not to sell, license, exchange, assign, or otherwise transfer or dispose of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Patent
Collateral. 
  
 Section 3. Security for Obligations.
The grant of continuing security interest in the Patent Collateral by each Grantor under this Patent Security Agreement secures the payment of all Obligations of such Grantor, now or hereafter existing under or in respect of the Finance Documents,
whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 
  
 Section 4. Recordation. Each Grantor authorizes and requests that the
Commissioner for Patents and any other applicable government officer record this Patent Security Agreement. 
  
 Section 5. Execution in Counterparts. This Patent Security Agreement may be executed in any number of counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 Section 6. Grants, Rights and Remedies. This Patent Security Agreement has been executed and delivered by the Grantors for the purpose of recording
the grant of security interest herein with the U.S. Patent and Trademark Office. The security interest granted hereby has been granted to the Administrative Agent in connection with the Security Agreement and is expressly subject to the terms and
conditions thereof and does not modify its terms or conditions or create any additional rights or obligations for any party thereto or hereto. The Security Agreement (and all rights and remedies of the Administrative Agent thereunder) shall remain
in full force and effect in accordance with its terms. 
  

 2 

 Section 7. Governing Law. This Patent Security Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York. 
  

 3 

 IN WITNESS WHEREOF, each Grantor has caused this Patent Security Agreement to be duly executed and
delivered by its officer thereunto duly authorized as of the date first above written. 
  

			
	 LOEWS CINEPLEX ENTERTAINMENT CORPORATION,

		
	By:	 	 
	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 
	
	 LCE HOLDCO, LLC,

		
	By:	 	 
	 	 	 Title:

	
	 Address for Notices:

	
	 
	
	 
	
	 
	 [OTHER GRANTORS]

  

 4 

  
 Schedule 1 

to Patent 
 Security Agreement

  
 [NAME OF GRANTOR] 
  
 PATENTS AND DESIGN PATENTS 
  

									
	 Patent No.

	 	 Issued

	 	 Expiration

	  	Country

	  	Title

  
 PATENT APPLICATIONS

  

									
	 Case No.

	 	 Serial No.

	 	 Country

	  	Date

	  	Filing Title

  

  
 Schedule 2 

to Patent 
 Security Agreement

  
 PATENT LICENSES 
  

							
	 Name of
Agreement

	 	 Parties
Licensor/Licensee

	 	 Date of
Agreement

	  	Subject
Matter

  

  
 Exhibit D to the

 Security Agreement 
  
 FORM OF TRADEMARK SECURITY AGREEMENT 
  
 This Trademark Security Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Trademark Security
Agreement”) dated                     , 20     is made by the Persons listed on the signature pages hereof
(collectively, the “Grantors”) in favor of Citicorp North America, Inc., as administrative agent (the “Administrative Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below).

  
 WHEREAS, LCE Acquisition Corporation, a Delaware corporation
(to be merged with and into Loews Cineplex Entertainment Corporation), has entered into a Credit Agreement dated as of July 30, 2004 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”) with Grupo Cinemex, S.A. de C.V., a Mexican corporation, Cadena Mexican de Exhibición, S.A. de C.V., a Mexican corporation, LCE Holdco, LLC, a Delaware limited liability company (“Holdings”), Citicorp
North America, Inc., as the L/C Issuer, the Swing Line Lender and the Administrative Agent, the other Agents named therein and the Lenders (including the Overdraft Loan Facility Lender) party thereto. 
  
 WHEREAS, as a condition precedent to the making of the Loans and the issuance
of Letters of Credit by the Lenders under the Credit Agreement and entry into Secured Hedge Agreements by the Hedge Banks from time to time, each Grantor has executed and delivered that certain Security Agreement dated as of July 30, 2004 made by
the Grantors to the Administrative Agent (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”). Terms defined in the Security Agreement and not otherwise defined herein
are used herein as defined in the Security Agreement. 
  
 WHEREAS,
under the terms of the Security Agreement, the Grantors have granted to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in, among other property, certain Trademarks of the Grantors, and have agreed as a
condition thereof to execute this Trademark Security Agreement for recording with the U.S. Patent and Trademark Office and any other appropriate governmental authorities. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each
Grantor agrees as follows: 
  
 Section 1. Grant of
Security. Each Grantor hereby grants to the Administrative Agent for the ratable benefit of the Secured Parties a continuing security interest in all of such Grantor’s right, title and interest in and to the following (all of the following
items or types of property being herein collectively referred to as the “Trademark Collateral”), whether now owned or existing or hereafter acquired or arising: 
  
 (i) each Trademark owned by the Grantor (including, without limitation, each Trademark registration and
application therefor, referred to in Schedule 1 hereto, and all of the goodwill of the business connected with the use of or symbolized by, each Trademark); 
  

 (ii) each Trademark license to which the Grantor is a party, including, without
limitation, each Trademark license referred to in Schedule 2 hereto, and all of the goodwill of the business connected with the use of, or symbolized by, each Trademark licensed pursuant thereto; 
  
 (iii) all registrations and applications for registration
for any of the foregoing, together with all renewals thereof; 
  
 (iv) all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder
or pertaining thereto; and 
  
 (v) any and all
Proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and Supporting Obligations relating to, any and all of the foregoing, including, without limitation, all Proceeds of and revenues
from any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and
collect, or otherwise recover, all proceeds and damages relating thereto. 
  
 Section 2. No Transfer of Grantor’s Rights. Except to the extent expressly permitted in the Credit Agreement, each Grantor agrees not to sell, license, exchange, assign, or otherwise transfer or dispose
of, or grant any rights with respect to, or mortgage or otherwise encumber, any of the Trademark Collateral. 
  
 Section 3. Security for Obligations. The grant of continuing security interest in the Trademark Collateral by each Grantor under this Trademark
Security Agreement secures the payment of all Obligations of such Grantor, now or hereafter existing under or in respect of the Finance Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement
obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 
  
 Section 4. Recordation. Each Grantor authorizes and requests that the Commissioner for Trademarks and any other applicable government officer
record this Trademark Security Agreement. 
  
 Section 5.
Execution in Counterparts. This Trademark Security Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same
agreement. 
  
 Section 6. Grants, Rights and Remedies. This
Trademark Security Agreement has been executed and delivered by the Grantors for the purpose of recording the grant of security interest herein with the U.S. Patent and Trademark Office. The security interest granted hereby has been granted to the
Administrative Agent in connection with the Security Agreement and is expressly subject to the terms and conditions thereof and does not modify its terms or 

  

 2 

 
conditions or create any additional rights or obligations for any party thereto or hereto. The Security Agreement (and all rights and remedies of the
Administrative Agent thereunder) shall remain in full force and effect in accordance with its terms. 
  
 Section 7. Governing Law. This Trademark Security Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York. 
  
 IN WITNESS WHEREOF, each Grantor has caused this
Trademark Security Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written. 
  

			
	LOEWS CINEPLEX ENTERTAINMENT CORPORATION,
		
	 By:
	 	 
	 	 	 Title:

  

			
	 Address for Notices:

	
	 
	
	 

  

			
	LCE HOLDCO, LLC,
		
	By:	 	 
	 	 	 Title:

  

			
	 Address for Notices:

	
	 
	
	 
	
	 [OTHER GRANTORS]

  

 3 

  
 Schedule 1 

to Trademark 
 Security Agreement

  
 U.S. TRADEMARK REGISTRATIONS 
  

					
	 TRADEMARK

	 	 REG. NO.

	 	 REG. DATE

  
 U.S. TRADEMARK
APPLICATIONS 
  

					
	 TRADEMARK

	 	 REG. NO.

	 	 REG. DATE

  

  
 Schedule 2 

to Trademark 
 Security Agreement

  
 TRADEMARK LICENSES 
  

							
	 Name of 
Agreement

	 	 Parties
Licensor/Licensee

	 	 Date of
Agreement

	  	Subject
MatterLoan Agreement Dated as of August 16, 2004

 Exhibit 10.3 
  
 Translation from Spanish 
  
 [SEAL] 
  
 LOAN AGREEMENT 
  
 US$100,000,000.00 
  
 dated as of August 16, 2004

  
 among 
  
 Cadena Mexicana de Exhibición, S.A. de C.V., 
 as Borrower 
  
 Grupo Cinemex, S.A. de C.V., and 
  
 the Subsidiaries listed Herein, as 
  
 Guarantors 
  
 The Banks Listed Herein 
  

  
 Banco Inbursa, S.A., Institución de Banca Múltiple, 
 Grupo Financiero
Inbursa 
 as Administrative Agent, Documentation Agent, Collateral Agent, 
 Bookrunner and Lead Arranger 
  

  
 Scotiabank Inverlat, S.A., Institución de Banca Múltiple,

 Grupo Financiero Scotiabank Inverlat 
 as Syndication Agent 
  

  

 Translation from Spanish 
  
 [SEAL] 
  
 TABLE OF CONTENTS 
  

							
	 	  	Page

	 ARTICLE 1 DEFINITIONS
	  	4
				
	 	  	SECTION 1.01.	  	 Definitions
	  	4
	 	  	SECTION 1.02.	  	 Construction Principles
	  	14
	 	  	SECTION 1.03.	  	 Accounting Terms and Determinations
	  	15
		
	 ARTICLE 2 LOANS
	  	15
				
	 	  	SECTION 2.01.	  	 Commitments to Lend
	  	15
	 	  	SECTION 2.02.	  	 Promissory Notes
	  	16
	 	  	SECTION 2.03.	  	 Repayment
	  	16
	 	  	SECTION 2.04.	  	 Interest Rate
	  	17
	 	  	SECTION 2.05.	  	 Optional Prepayments
	  	17
	 	  	SECTION 2.06.	  	 Mandatory Prepayments
	  	18
	 	  	SECTION 2.07.	  	 Break Funding Costs
	  	18
	 	  	SECTION 2.08.	  	 Calculation of Interests
	  	18
		
	 ARTICLE 3 CONDITIONS
	  	19
				
	 	  	SECTION 3.01.	  	 Closing
	  	19
		
	 ARTICLE 4 REPRESENTATIONS
	  	21
				
	 	  	SECTION 4.01.	  	 Corporate Existence, Powers and Ownership
	  	21
	 	  	SECTION 4.02.	  	 Corporate and Governmental Authorization; No Contravention
	  	21
	 	  	SECTION 4.03.	  	 Binding Effect, Enforceability of Loan Documents; No Default Under Contracts
	  	22
	 	  	SECTION 4.04.	  	 Financial Information; Solvency
	  	22
	 	  	SECTION 4.05.	  	 Compliance with Laws and Licenses
	  	22
	 	  	SECTION 4.06.	  	 Litigation
	  	23
	 	  	SECTION 4.07.	  	 Ownership of Properties
	  	23
	 	  	SECTION 4.08.	  	 Commercial Law; Immunity
	  	23
	 	  	SECTION 4.09.	  	 Taxes
	  	23
	 	  	SECTION 4.10.	  	 Full Disclosure
	  	23
	 	  	SECTION 4.11.	  	 Priority of Obligations
	  	24
	 	  	SECTION 4.12.	  	 True and Correct Representation in the Loan Documents
	  	24
	 	  	SECTION 4.13.	  	 Subsidiaries
	  	24

  

 Translation from Spanish 
  
 [SEAL] 
  

							
	 ARTICLE 5 COVENANTS
	  	24
				
	 	  	SECTION 5.01.	  	 Information
	  	24
	 	  	SECTION 5.02.	  	 Payment of Obligations
	  	26
	 	  	SECTION 5.03.	  	 Maintenance of Property; Insurance
	  	26
	 	  	SECTION 5.04.	  	 Compliance with Laws
	  	26
	 	  	SECTION 5.05.	  	 Conduct of Business and Maintenance of Existence
	  	26
	 	  	SECTION 5.06.	  	 Inspection of Property, Books and Records
	  	26
	 	  	SECTION 5.07.	  	 Mergers and Assets Sales
	  	28
	 	  	SECTION 5.08.	  	 Limitation on Lien
	  	27
	 	  	SECTION 5.09.	  	 Total Net Debt/EBITDA Ratio
	  	30
	 	  	SECTION 5.10.	  	 Total Net Debt/Capital Ratio
	  	30
	 	  	SECTION 5.11.	  	 Interest Coverage Ratio
	  	31
	 	  	SECTION 5.12.	  	 Ture-Lease/ Adjusted Leverage Ratio
	  	31
	 	  	SECTION 5.13.	  	 [Intentionally Omitted]
	  	32
	 	  	SECTION 5.14.	  	 Minimum Consolidated Net Worth
	  	32
	 	  	SECTION 5 15.	  	 Investments
	  	32
	 	  	SECTION 5.16.	  	 Restricted Payments
	  	32
	 	  	SECTION 5.17.	  	 Transactions with Affiliates
	  	32
	 	  	SECTION 5.18.	  	 Contingent Liabilities
	  	33
	 	  	SECTION 5 19.	  	 Use of Proceeds
	  	33
	 	  	SECTION 5.20.	  	 Ranking
	  	33
	 	  	SECTION 5.21.	  	 Debt with Affiliates
	  	33
	 	  	SECTION 5.22.	  	 [Intentionally Omitted]
	  	33
	 	  	SECTION 5.23.	  	 Capital Expenditures
	  	33
	 	  	SECTION 5.24.	  	 Power of Attorney
	  	34
	 	  	SECTION 5.25.	  	 Guarantors
	  	34
		
	 ARTICLE 6 DEFAULTS
	  	34
				
	 	  	SECTION 6.01.	  	 Events of Default
	  	34
		
	 ARTICLE 7 AGENTS
	  	37
				
	 	  	SECTION 7.01.	  	 Authorization and Action
	  	37
	 	  	SECTION 7.02.	  	 Appointment of the Administrative Agent
	  	37
	 	  	SECTION 7 03.	  	 Administrative Agent’s Duties
	  	38
	 	  	SECTION 7.04.	  	 Acceptance of Pledged Property
	  	38
	 	  	SECTION 7.05.	  	 Duties
	  	39
	 	  	SECTION 7.06.	  	 Agents and Affiliates
	  	39
	 	  	SECTION 7.07.	  	 Action by the Agents
	  	39
	 	  	SECTION 7.08.	  	 Consultation with Experts
	  	39
	 	  	SECTION 7.09.	  	 Agents’ Liability
	  	39

  

 ii 

 Translation from Spanish 
  
 [SEAL] 
  

							
	 	  	SECTION 7.10.	  	 Indemnification.
	  	39
	 	  	SECTION 7.11.	  	 Credit Decision
	  	40
	 	  	SECTION 7.12.	  	 Successor Agents; Other Agents
	  	40
	 	  	SECTION 7 13.	  	 Fees
	  	40
		
	 ARTICLE 8 CHANGES IN CIRCUMSTANCES
	  	40
				
	 	  	SECTION 8.01.	  	 Substitute Interest Rate
	  	40
	 	  	SECTION 8.02.	  	 Illegality
	  	41
	 	  	SECTION 8.03.	  	 Increased Cost and Reduced Return
	  	42
	 	  	SECTION 8 04.	  	 Taxes
	  	43
		
	 ARTICLE 9 MISCELLANEOUS
	  	44
				
	 	  	SECTION 9.01.	  	 Notices
	  	44
	 	  	SECTION 9.02.	  	 No Waiver
	  	44
	 	  	SECTION 9.03.	  	 Borrower’s and Guarantors’ Joint and Several Obligations
	  	44
	 	  	SECTION 9.04.	  	 Expenses; Indemnification
	  	44
	 	  	SECTION 9.05.	  	 Sharing of Set-offs
	  	45
	 	  	SECTION 9.06.	  	 Amendments and Waivers; Release of Pledged Property
	  	45
	 	  	SECTION 9.07.	  	 Successors and Assigns
	  	46
	 	  	SECTION 9.08.	  	 [Intentionally Omitted]
	  	47
	 	  	SECTION 9.09.	  	 Governing Law; Jurisdiction
	  	47
	 	  	SECTION 9.10.	  	 Counterparts; Integration; Effectiveness
	  	48
	 	  	SECTION 9.11.	  	 [Intentionally Omitted]
	  	48
	 	  	SECTION 9.12.	  	 Waiver of Immunity
	  	48
	 	  	SECTION 9.13.	  	 Language
	  	48

  

 iii 

 Translation from Spanish 
  
 [SEAL] 
  
 AGREEMENT dated as of August 16, 2004 among Cadena Mexicana de Exhibición, S.A. de C.V. (the “Borrower”); the Subsidiaries listed
on the signature pages ____ and Grupo Cinemex, S.A. de C.V., as guarantors and obligors (together with the Borrower, the “Obligors”); the Banks listed on the signature pages hereof (the “Banks”); Banco Inbursa,
S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa as Administrative Agent, Documentation Agent, Collateral Agent, Bookrunner and Lead Arranger (the “Administrative Agent”), and Scotiabank Inverlat,
S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat, as Syndication Agent (the “Syndication Agent”). 
  
 The parties hereto agree as follows: 
  
 ARTICLE 1 
  
 DEFINITIONS 
  
 SECTION 1.01. Definitions. The following terms, as used herein, shall have the following meanings: 
  
 “Administrative Agent” means Banco Inbursa, S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa in its capacity
as administrative agent, documentation agent, collateral agent, bookrunner and lead arranger for the purposes of this Agreement. 
  
 “Administrative Agent’s Account” means the account number 2277000367, maintained by Banco de México under the name of Banco
Inbursa, S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa. 
  
 “Affiliate” of any Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. As used herein, the term
“Control” means possession, directly or indirectly, of the power to vote 51% or more of any class of voting securities of a Person or the authority to direct or cause the direction of the management or policies of a Person, whether
through the ownership of voting securities, by contract or otherwise. 
  
 “Agents” means, collectively, the Administrative Agent and the Syndication Agent. 
  
 “Applicable Lending Office” means, with respect to any Bank, its offices located at its address set forth on Schedule 1 hereto opposite
its name under the heading “Applicable Lending Office” or in the Assignment and Assumption Agreement pursuant to which it became a Bank, or such other office as such Bank may designate as its Applicable Lending Office by notice to the
Borrower and the Administrative Agent. 
  
 “Assignee” has the meaning set forth in Section 9.07(c). 
  
 “Assignment and Assumption Agreement” means an Assignment and Assumption Agreement entered into by and between a Bank and an Assignee, and accepted by the Administrative Agent and the Syndication
Agent, substantially in the form of Exhibit A hereto. 
  

 Translation from Spanish 
  
 [SEAL] 
  

 “Bank” means each of the Banks and financial institutions listed on the signature
pages hereto and each Assignee which becomes a Bank pursuant to Section 9.07(c) and their respective successors. 
  
 “Borrower” means Cadena Mexicana de Exhibición, S.A. de C.V., a Mexican corporation and its successors. 
  
 “Business Day” means any day except a Saturday, Sunday or
other day on which commercial banks in Mexico City are authorized or required by law to close. 
  
 “Capital Expenditures” has the meaning set forth in Section 5.23. 
  
 “Capital Expenditures Limit” means, for the last four consecutive Fiscal Quarters, the addition of (i) Consolidated EBITDA, (ii) the
amount of cash on hand and Temporary Cash Investments on the first day of such four consecutive Fiscal Quarters, (iii) proceeds received by the Consolidated Borrower in consideration for the issuance by the Consolidated Borrower of equity securities
or capital stock, (iv) the proceeds from the incurrence of additional Debt (provided, that with respect to each incurrence of additional Debt, no Default has occurred and is continuing as of the date on which such Debt is incurred), and (v) the
proceeds from the sale of assets, less the addition of (i) Net Taxes Paid, (ii) Consolidated Debt Service, and (iii) Restricted Payments. 
  
 “CETE Rate” has the meaning set forth in Section 8.01. 
  
 “Closing Date” means the date hereof. 
  
 “Collateral Documents” means the Pledge Agreement and the Subsidiaries’ Agreement, including the
amendments and additions thereto as well as any other document executed and/or delivered pursuant to their terms. 
  
 “Commitment” means, (i) with respect to each Bank listed on Schedule 1 hereto, the amount set forth opposite the name of such Bank under
the heading “Commitment,” and (ii) with respect to any Assignee, the Commitment assigned to such Assignee pursuant to Section 9.07(c). 
  
 “Commitment Documents” means the Fee Letters and the document named Summary of Terms and Conditions dated July 30, 2004, among the
Borrower, Banco Inbursa, S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa and Scotiabank Inverlat, S.A. Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat. 
  
 “Consolidated Borrower” means the Borrower and its
Consolidated Subsidiaries taken as a whole. 
  
 “Consolidated Debt Service” means, with respect to the Consolidated Borrower for any relevant period, the addition of the Consolidated Interest Expense and the amortization during such period of all Debt with a maturity of
one year or longer, determined in accordance with Mexican GAAP, excluding all interest expense generated by the Subordinated Debt. 
  

 5 

 Translation from Spanish 
  
 [SEAL] 
  

 “Consolidated EBITDA” means for any relevant period, EBITDA of the Consolidated
Borrower in accordance with Mexican GAAP for such period plus, to the extent deducted in determining such EBITDA, the aggregate amount of non-cash charges similar to depreciation and amortization. 
  
 “Consolidated Interest Expense” means, for any relevant
period, Consolidated Borrower’s aggregate Interest Expenses. 
  
 “Consolidated Net Profits” means, for any relevant period, the aggregate net profits (or loss) of the Consolidated Borrower for such period, determined in accordance with Mexican GAAP. 
  
 “Consolidated Net Worth” means, at any date, the
consolidated stockholders’ equity of the Consolidated Borrower, computed as accounting assets, less liabilities and excluding convertible debt. Without limiting the generality of the foregoing, such Consolidated Net Worth includes capital,
surplus and undivided profits, as well as common stock, and preferred stock. 
  
 “Consolidated Rental Expense” means, for any period, the aggregate rental expense of the Consolidated Borrower less, to the extent included in the determination thereof, any portion of lease payments
that are (i) calculated as a percentage of Consolidated Borrower’s revenues, (ii) a single lump sum amount agreed to be paid by the Consolidated Borrower at the time a lease is entered into as “key money” or transfer, even if payable
in several instalments or (iii) paid as advance rent or rent deposits, all determined on a consolidated basis for such period; provided however, that “Consolidated Rental Expense” excludes Debt referred to in paragraph (iv) of Debt
definition. 
  
 “Consolidated Stockholders’
Equity” means, at any date, the consolidated stockholder’s equity of the Consolidated Borrower. 
  
 “Consolidated Subsidiary” means, at any date and for any Person, any Subsidiary or other entity the accounts of which would be
consolidated with those of such Person in its consolidated financial statements if such statements were prepared as of such date in accordance with the Mexican GAAP. 
  
 “Debt” of any Person means, at any date, without duplication, (i) all obligations of such Person for
borrowed money, excluding Subordinated Debt, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase price of property or services,
except for trade accounts payable arising in the ordinary course of business, (iv) all obligations of such Person as lessee which are capitalized in accordance with Mexican GAAP, (v) all non-contingent obligations (and, for purposes of Section 5.08
and the definitions of Material Debt, all contingent obligations) of such Person to reimburse any bank or other Person in respect of amounts paid under a letter of credit or similar instrument, (vi) all Debt secured by a Lien on any asset of such
Person, whether or not such Debt is otherwise an obligation of such Person and (vii) all Guarantees by such Person of another Person’s Debt (each such Guarantee shall constitute Debt in an amount equal to the amount of such other Person’s
Debt Guaranteed thereby, except for 

  

 6 

 Translation from Spanish 
  
 [SEAL] 
  

 
Subordinated Debt) and (viii) Revolving Debt; provided, however, that “Debt” excludes Subordinated Debt. 
  
 “Default” means any condition or event which constitutes an
Event of Default or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default. 
  
 “Delinquent Interest Rate” has the meaning set forth in Section 2.04(a). 
  
 “Derivatives Obligations” of any Person means all obligations of such Person in respect of any rate swap
transaction, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction,
collar transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of the foregoing transactions) or any combination of the foregoing
transactions. 
  
 “Disbursement Date” has the
meaning set forth in Section 2.01(b) hereof. 
  
 “Dollar”, “US$” or “Dollars” means the lawful currency of the United States of America. For purposes of obtaining the Peso equivalent of any amount in Dollars, the parties hereto agree to
use the exchange rate published in the Official Gazette of the Federation as the Rate of Exchange to Settle Obligations denominated in Foreign Currency payable in Mexico on the date the conversion is made. 
  
 “EBITDA” means, for any Person, for any period, for such
Person, the addition of the following (without duplication): (a) operating income (calculated before taxes, Interest Expenses, interest revenue, extraordinary and unusual items) for such period plus (b) depreciation and amortization (to the
extent deducted in determining operating income) for such period, plus (c) the Pro-forma EBITDA for such period, all as determined in accordance with Mexican GAAP with the information provided in such Person’s financial statements.

  
 “Effective Date” means the date in which this
Agreement becomes effective in accordance with Section 9.10. 
  
 “Event of Default” has the meaning set forth in Section 6.01. 
  
 “Executive Officer” means the Director General, the executive director, the chief operating officer, the chief financial officer, the general counsel, the general comptroller, or the treasurer of the
Borrower; provided that said officer is duly authorized to perform any obligations hereunder, as evidenced in a certificate substantially in the form of Exhibit “H”. 
  
 “Existing Loan” means the Borrower’s Debt pursuant to the credit agreement entered into by and among
the Borrower, Grupo Cinemex, Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat, as Co-Lead Arranger, and other third parties 

  

 7 

 Translation from Spanish 
  
 [SEAL] 
  

 
and financial institutions parties thereto, for an amount up to P$1,000,000,000.00 (One Billion Pesos 00/100) dated December 26, 2002, as amended and/or
supplemented, as the case may be. 
  
 “Fee
Letter” means the Administrative Agent’s Fee Letter, dated August 13, 2004, between the Borrower and the Administrative Agent, relating to the payment of the fees, costs and other expenses. 
  
 “Fiscal Quarter” means a fiscal quarter of the Borrower
(i.e. January 1st through March 31st; April 1st through June
30th; July 1st through September 30th ; and October 1st through December 31st). 
  
 “Fiscal Year” means, pursuant to the applicable tax laws, the period comprised between January 1st and December 31st of every calendar year of the Borrower. 
  
 “Governmental Authority” means any government or any state, department or other political subdivision
thereof, or any governmental body, agency, authority (including, without limitation, any central bank or taxing authority) or instrumentality (including, without limitation, any court or tribunal) exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government and any corporation, partnership or other entity directly or indirectly owned by or subject to the control of any of the foregoing. 
  
 “Guarantee” granted by any Person means any real and/or
personal obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing any Debt or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent
or otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation or (ii) incurred for the purpose of assuring in any other manner the holder of such Debt or other
obligation the payment thereof or to protect such holder against loss in respect thereof (in whole or in part), provided, that the term “Guarantee” shall not include endorsements for collection or deposits in the ordinary course of
business of such Person. The term “Guarantee” used as a verb has a meaning that corresponds to the granting of a Guarantee. 
  
 “Guarantors” means: (i) Grupo Cinemex; and (ii) each Operating Subsidiary including the Operating Subsidiaries established after the date
hereof (which adhere to this Agreement and/or to the Collateral Documents pursuant to Section 5.25), but excluding Operadora Moliere, S.A. de C.V., Teatro Polanco, S.A. de C.V., Producciones Expreso Astral, S.A. de C.V., Servicios Cinematograficos
Especializados, S.A. de C.V., Serviuno, S.A. de C.V., FICC Ciudad de Mexico, S.A de C.V. and Cinemex Producciones, S.A. de C.V., or any other Subsidiary of the Borrower established for labour and employee benefit purposes or the purpose of which is
other than the operation of one or more movie theatres, as provided in Schedule 2 hereto, unless such excluded Subsidiaries become Operating Subsidiaries, in which case such excluded Subsidiaries shall become Guarantors. 
  
 “Grupo Cinemex” means Grupo Cinemex, S.A. de C.V., a Mexican
corporation. 
  
 “IMSS” means Instituto Mexicano
del Seguro Social. 
  

 8 

 Translation from Spanish 
  
 [SEAL] 
  

 “Indemnified Party” or “Indemnified Parties” has the meaning set
forth in Section ___ 10. 
  
 “Indemnitee” has the
meaning set forth in Section 9.04(b). 
  
 “INFONAVIT” means Instituto del Fondo Nacional para la Vivienda de los Trabajadores. 
  
 “Interest Coverage Ratio” means the ratio of (i) the Borrower’s Consolidated EBITDA divided by (ii) the Borrower’s Consolidated
Interest Expense, calculated on the four most recent consecutive Fiscal Quarters. 
  
 “Interest Expense” means, for any applicable period, the aggregate interest expense of the Consolidated Borrower for such applicable period, determined in accordance with Mexican GAAP, and excluding
all interest expenses generated by the Subordinated Debt; provided that, in the event of acquisitions by the Borrower or any of its Consolidated Subsidiaries that include an interest component, the interests related to such acquisitions shall also
be taken into consideration. 
  
 “Interest
Period” means, with respect to any disbursement made under the Loan, the period commencing on the 26th day
of any calendar month and ending on the 26th day of the immediately following month, provided that the first
Interest Period with respect to any disbursement made under the Loan, shall be irregular, commencing on the relevant Disbursement Date and ending on the 26th day of the immediately following month; provided, however, that: 
  
 (a) any Interest Period which would otherwise end on a date which is not a Business Day shall end on the following Business Day; and 
  
 (b) any Interest Period which would otherwise end after the Expiration Date
shall end on the Expiration Date. 
  
 “Interest
Rate” means, for any day, a rate per annum equal to the TIIE Rate plus the applicable Margin. 
  
 “Investment” means any investment in any Person, whether by means of share purchase, capital contribution, loans, Guarantees, time
deposits or otherwise (but without including any demand deposit). 
  
 “Investor” or “Investors” has the meaning set forth in Section 6.01(n). 
  
 “Lead Arranger” means Banco Inbursa, S.A., Institución de Banca Múltiple, Grupo Financiero Inbursa. 
  
 “Lien” means, with respect to any asset, any mortgage, lien,
pledge, charge, guaranty trust, assignment, security interest or encumbrance of any kind that has the practical effect of creating a security interest, in respect of such asset. For the purposes of this Agreement, the Consolidated Borrower shall be
deemed to possess, subject to a Lien, any asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset. 

 

 9 

 Translation from Spanish 
  
 [SEAL] 
  

 “Loan” has the meaning set forth in Section 2.01. 
  
 “Loan Documents” means this Agreement, the Promissory Notes
and the Collateral Documents, as amended. 
  
 “Loan
Purpose” means (i) the refinancing of the Borrower’s Existing Loan, (ii) capital expenditures and (iii) general corporate expenses. 
  
 “Margin” means (i) for the period of time compounded between the Closing Date and August 26, 2005, inclusive, 150 basis points, (ii) for
the period of time beginning after August 26, 2005, and ending on August 26, 2006, 150 basis points, (iii) for the period of time beginning after August 26, 2006, and ending on August 26, 2007, 175 basis points, (iv) for the period of time beginning
after August 26, 2007, and any moment afterwards, 200 basis points. 
  
 “Material Debt” means Debt (except Debt outstanding hereunder and under the Revolving Loan Agreement) of the Consolidated Borrower, arising in one or more related or unrelated transactions, in an aggregate principal or face
amount exceeding US$8,000,000.00 (Eight Million Dollars 00/100), or its equivalent amount in Pesos, and excluding Subordinated Debt. 
  
 “Material Financial Obligations” means a principal or face amount of Debt (other than the Loan and the Revolving Loan) and/or payment or
collateralization obligations in respect of Derivatives Obligations of the Consolidated Borrower, arising in one or more related or unrelated transactions, exceeding in the aggregate US$8,000,000.00 (Eight Million Dollars 00/100) or its equivalent
amount in Pesos. 
  
 “Material Subsidiary” means,
at any time, a direct or indirect Subsidiary of the Borrower (A) that at any time during the preceding Fiscal Year has consolidated assets equal to or greater than 5% of the consolidated assets of the Consolidated Borrower or (B) whose operating
earnings before interest, income tax expense, depreciation and amortization constitutes 5% or more of the Consolidated EBITDA for the preceding Fiscal Year. 
  
 “Mexican GAAP” has the meaning set forth in Section 1.03. 
  
 “Mexico” means the United Mexican States. 
  
 “Net Cash Proceeds” means, with respect to any asset sale pursuant to Section 5.07 (b) by the Consolidated
Borrower, the aggregate amount of cash received from time to time by or on behalf of such Person in connection with such transaction after deducting therefrom (i) the principal amount and premiums due, if any, received in connection with the sale of
assets securing Debt, provided, however that said proceeds are used to repay such Debt, (ii) reasonable and customary brokerage fees, legal fees, accountants’ fees and other similar fees, expenses and commissions, if any, (iii) the amount of
taxes payable or estimated in good faith to be payable in connection with or as a result of such transaction, and (iv) any reserves for the adjustment with respect to the sale price of such assets or any obligation related to such assets, if any, to
the extent that in all cases the amounts so deducted are payable to a Person that is not an Affiliate and are properly attributable to such transaction or to the asset that is the subject thereof. 
  

 10 

 Translation from Spanish 
  
 [SEAL] 
  

 “Net Taxes Paid” means, for any relevant period, the aggregate Mexican income tax
actually paid by the Consolidated Borrower, net of all Mexican income tax reimbursements compensations or other cash received as a consequence of Mexican income taxes paid by the Consolidated Borrower. 
  
 “Obligors” means the Borrower and the Guarantors, acting as
joint obligors, and “Obligor” means any of the foregoing. 
  
 “Operating Subsidiary” means a direct or indirect subsidiary of the Borrower which operates one or more movie theatres and which contributes to the consolidated revenues or operating income of the Consolidated Borrower. For
information purposes, the current Operating Subsidiaries are included in the list contained in Schedule 2 hereto, which shall be updated every six months. 
  
 “Parent” means, with respect to any Bank, any Person controlling such Bank. 
  
 “Participant” has the meaning set forth in Section 9.07(b). 
  
 “Person” means any individual or legal entity, a trust or
any other entity or organization, including a government or political subdivisions or agencies or instrumentalities thereof. 
  
 “Permitted Holders” means, directly or indirectly, each of (a) of Bain Capital Holdings (Loews) I, L.P. (and its members), Bain Capital
AIV (Loews) II, L.P. (and its members) TC Group L.L.C., Carlyle Partners III Loews, L.P., CP II Coinvestment, L.P., Spectrum Equity Investors IV, L.P., Spectrum Equity Investors Parallel IV, L.P., Spectrum IV Investment Managers’ Fund, L.P.,
and their respective Affiliates or (b) Loews Cineplex Entertainment Corporation or its Subsidiaries or investment funds or other direct or indirect investors of Loews Cineplex Entertainment Corporation. 
  
 “Peso”, “Pesos” or “MXP$”
means, the lawful currency of Mexico. For purposes of obtaining the Peso equivalent of any amount in Dollars, the parties hereto agree to use the exchange rate published in the Official Gazette of the Federation as the Rate of Exchange to Settle
Obligations denominated in Foreign Currency payable in Mexico on the date the conversion is made. 
  
 “Pledge Agreement” means the Stock Pledge Agreement dated as of the date hereof, substantially in the form of Exhibit B hereto, as the
same may be amended or otherwise modified from time to time. 
  
 “Pledged Properties” means the properties pledged under the Pledge Agreement. 
  
 “Pledged Subsidiary” shall have the meaning set forth in Section 5.05(b) herein. 
  
 “Pro-forma EBITDA” means for any relevant period (i) EBITDA
of the Consolidated Subsidiaries in respect of newly opened theatres that have been operating for a period of at least six (6) months, on an annualized basis, provided that the EBITDA in respect of newly opened theatres for the estimated period
shall be calculated by multiplying it times 0.8 and (ii) EBITDA for the relevant period corresponding to any company, entity or operating assets acquired by the 

  

 11 

 Translation from Spanish 
  
 [SEAL] 
  

 
Borrower or any of its Subsidiaries, determined as if such acquisition had occurred on the first day of the relevant period. 
  
 “Promissory Notes” means promissory notes subscribed by the
Borrower and signed by the Guarantors as avales, substantially in the form of Exhibit C hereto, evidencing the obligation of the Borrower to repay each Loan, and “Promissory Note” means any one of such promissory notes issued
hereunder. 
  
 “Replacement Subsidiary” means, as
of the date of determination, a Subsidiary of the Borrower whose attributable portion of Consolidated EBITDA for the four most recently ended Fiscal Quarter period is at least equal to the attributable portion of Consolidated EBITDA (for the same
period) of the applicable Pledged Subsidiary, subject to the occurrence of any of the events described in Section 6.01(m). 
  
 “Required Banks” means at any time Banks having at least 66% (sixty six percent) of the aggregate outstanding amount of the Loans.

  
 “Restricted Payment” means (i) any dividend
or other distribution on any shares representing the Borrower’s capital stock or any of its Consolidated Subsidiaries’ capital stock (except dividends payable solely in shares of its capital stock or dividends paid by the Borrower to Grupo
Cinemex); or (ii) any payment on account of the purchase, redemption, withholding or acquisition of (a) any shares of the Borrower’s or any of its Consolidated Subsidiaries’ capital stock or (b) any option, warrant or other rights to
acquire shares of the Borrower or any of its Consolidated Subsidiaries’ capital stock (but excluding payments of principal, premium (if any) or interest made pursuant to the terms of convertible debt securities prior to conversion); and (iii)
any dividend or other distribution on any shares representing the capital stock of Grupo Cinemex (except for dividends exclusively paid with shares of its capital stock). 
  
 “Revolving Loan Agreement” means the revolving loan agreement entered into simultaneously to this
Agreement, among the Obligors, the Agents and the Banks, their successors and assignees, as the case may be, for an amount in Pesos equal to US$25,000,000.00 (Twenty Five Million Dollars 00/100), as amended and/or supplemented. 
  
 “Revolving Debt” means the Debt under the Revolving Loan
Agreement. 
  
 “Sale and Leaseback Transaction”
means an arrangement by any Person providing for the leasing by such Person of any property or asset acquired by such Person to the Person that sold or transferred such property or assets, not more than 270 days after the acquisition thereof, the
completion of construction or commencement of operations thereof. 
  
 “SAR” means Sistema de Ahorro para el Retiro or the Mexican mandatory retirement fund system. 
  
 “Scheduled Payment” has the meaning set forth in Section 2.03. 
  
 “Solvent” means, with respect to any Person on a particular date, that on such date (a) the fair value of
the property of such Person is greater than the total amount of liabilities, including, 

  

 12 

 Translation from Spanish 
  
 [SEAL] 
  

 
without limitation, contingent liabilities, of such Person and (b) the present fair saleable value of the assets of such Person is not less than the amount
that will be required to pay the liability such Person on its debts as they become due and payable. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances prevailing at
such time, represents the amount that can reasonably be expected to become an actual or matured liability. 
  
 “Subordinated Debt” means the Borrower’s subordinated Debt, with principal and interests payable on any date after the Expiration
Date hereunder and under the Revolving Loan Agreement. 
  
 “Subsidiary” of any Person means any legal entity, joint venture, trust or estate of which (or in which) more than 50% of (a) the voting stock or equity interests of such corporation, (b) the interest in the capital or
profits of such legal entity (partnership, corporation) or joint venture or (c) the beneficial interest in such trust or estate is directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or
by one or more of such Person’s other Subsidiaries. 
  
 “Subsidiaries’ Agreement” means, the Subsidiaries’ Agreement, as the same may be amended or otherwise modified from time to time, substantially in the form of Exhibit D hereto, to be entered into by each
Subsidiary of the Borrower that becomes an Operating Subsidiary, by acquisition or otherwise, if any. 
  
 “Substitute Interest Rate” shall have the meaning set forth in Section 8.01. 
  
 “Substitute Subsidiary” shall have the meaning set forth in
Section 5.05(b) herein. 
  
 “Syndication Agent”
means Scotiabank Inverlat, S.A., Institution de Banca Multiple, Grupo Financiero Scotiabank Inverlat in its capacity as syndication agent for the Banks hereunder and its successors in such capacity. 
  
 “Temporary Cash Investment” means any Investment in (i)(x)
direct obligations of the government of the United States of America or any agency or instrumentality thereof, or obligations Guaranteed by the United States of America or any agency or instrumentality thereof and (y) direct obligations of the
governments of Mexico or any agency or instrumentality thereof, or obligations Guaranteed by Mexico or any agency thereof, (ii) commercial paper rated at least A-l by Standard & Poor’s Ratings Services or P-l by Moody’s Investors
Service, Inc., (iii)(x) time deposits with, including certificates of deposit issued by, any office located in the United States of America of any bank or trust company which is organized under the laws of the United States of America or any state
thereof and has capital, surplus and undivided profits aggregating at least US$1,000,000,000.00 (One Billion Dollars 00/100) and (y) Promissory Notes issued by, or time deposits with BBVA Bancomer, S.A., Institution de Banca Multiple, Grupo
Financiero BBVA Bancomer, Banco Inbursa, S.A., Institution de Banca Multiple Grupo Financiero Inbursa, Banco J.P. Morgan, S.A., Chase Manhattan Bank Mexico, S.A., Scotiabank Inverlat, S.A., Institution de Banca Multiple, Grupo Financiero Scotiabank
Inverlat, Banco National de Mexico, S.A., or any other bank or trust company which is organized under the laws of the United States of America or any state thereof or Mexico and has capital, surplus and 

  

 13 

 Translation from Spanish 
  
 [SEAL] 
  

 
undivided profits aggregating at least US$1,000,000,000.00, (One Billion Dollars 00_______ including certificates of deposit issued by, any office or
Subsidiary of such banks located in Mexico or (iv) repurchase agreements with respect to securities described in clause (i) above entered into with an office of a bank or trust company meeting the criteria specified in clause (iii) above,
provided, in each case that such Investment matures within one year from the date of acquisition thereof by the Consolidated Borrower. 
  
 “Expiration Date” means August 16, 2009 or, if such day is not a Business Day, the immediate preceding Business Day. 
  
 “TIIE Rate” means for each Interest Period, the 28-day
Equilibrium Interbank Interest Rate published by Banco de Mexico in the Official Gazette of the Federation on the first Business Day of each Interest Period. 
  
 “Total Net Debt” means, on any date, the Consolidated Borrower’s Debt minus cash and Temporary Cash Investments. 

 
 “Total Net Debt/ EBITDA Ratio” means, on the last day of
any Fiscal Quarter, the Total Net Debt divided by the Consolidated EBITDA, on such date (based on the last four Fiscal Quarters ending on that date). 
  
 “Total Net Debt/Capital Ratio” means, the Total Net Debt divided by Consolidated Net Worth. 
  
 “True-Lease/Adjusted Leverage Ratio” means, the Total Net
Debt for the last four Fiscal Quarters plus Consolidated Rental Expense for the last four Fiscal Quarters times 8 (eight), divided by the sum resulting from the addition of the Consolidated EBITDA for the last four Fiscal Quarters plus
the Consolidated Rental Expense for the last four Fiscal Quarters. 
  
 “Unrestricted Subsidiary” means any Subsidiary of the Borrower whose shares representing the of capital stock or other ownership interests are not subject to the terms of the Pledge Agreement. 
  
 “Wholly-Owned Subsidiary” means any Subsidiary all of the
shares representing its capital stock or other ownership interests of which (except for shares constituting less than 1% of the voting power and economic interest of any class of capital stock) are at that time directly or indirectly owned by the
Borrower. 
  
 SECTION 1.02. Construction Principles.
Capitalized terms used and defined herein shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neutral forms. All
references in this Agreement to Clauses, sections, paragraphs and exhibits shall be deemed to be references to Clauses, sections paragraphs and exhibits of this Agreement, unless the context otherwise requires. Any and all exhibits attached hereto
shall be deemed an integral part hereof. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, unless such phrase otherwise appears. 
  

 14 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 1.03. Accounting Terms and Determinations. Unless otherwise specified herein, all
accounting terms used herein or in any of the Loan Documents shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with generally
accepts accounting principles in Mexico as in effect from time to time (“Mexican GAAP”). applied on a basis consistent (except for changes concurred by the Borrower’s independent public accountants) with the most recent audited
consolidated financial statements of the Consolidated Borrower, its respective Consolidated Subsidiaries and the Guarantors delivered to the Banks; provided, that if the Borrower notifies the Administrative Agent that the Borrower reasonably
wishes to amend any provision hereof to eliminate the effect of any change in Mexican GAAP (or if the Administrative Agent and the Syndication Agent notify the Borrower that the Required Banks reasonably wish to amend any provision for such
purpose), then the Consolidated Borrower’s compliance with such provision shall be determined on the basis of Mexican GAAP in effect immediately before the relevant change in Mexican GAAP became effective, until either such notice is withdrawn
or such provision is amended in a manner satisfactory to the Borrower and the Required Banks. 
  
 ARTICLE 2 
  
 LOANS

  
 SECTION 2.01. Commitments to Lend. (a) each Bank
severally, and not jointly, agrees, on the terms and conditions set forth in this Agreement, to grant a term Loan (each one, a “Loan”), to the Borrower, in an aggregate principal amount not to exceed the amount of such Bank’s
Commitment, in two disbursements, one equal to the equivalent in Pesos of US$90,000,000.00 (ninety million Dollars 00/100) at the exchange rate published by Banco de Mexico in the Official Gazette of the Federation on the relevant Closing Date and
the second equal to the equivalent in Pesos of US$10,000,000.00 (ten million Dollars 00/100) at the exchange rate published by Banco de Mexico in the Official Gazette of the Federation on the date of the corresponding Disbursement, provided that,
the term to complete the second disbursement shall be the one year anniversary of the Closing Date, in the understanding that there shall be no fee for the second disbursement if it is completed within six months after the Closing Date, and
if such disbursement is completed after such period of time, a 0.20% fee shall be imposed on the amount not disbursed, to be paid on the date such amount is disbursed or at the expiration of the term for disbursement, whatever happens first, which
the Borrower shall exclusively use for the Loan Purpose. When used in this Agreement, the term “Loans” means all the Loans in a collective manner. The Loan does not include interest, fees and expenses to be paid by the Borrower and that
are set forth herein. 
  
 (b) Loan Disbursement. For
purposes of the first disbursement, the Borrower shall deliver to each Bank, through the Administrative Agent, a written disbursement request, under the terms of Exhibit E, on the Closing Date, indicating the disbursement date (the
“Disbursement Date”), and in the case of the second disbursement, the Borrower shall deliver a written disbursement request on the terms provided in Exhibit E to each Bank, through the Administrative Agent, at least 2
(two) Business Days prior to the Disbursement Date proposed. The parties hereto agree that each Bank shall only be required to lend, in proportion to the 

  

 15 

 Translation from Spanish 
  
 [SEAL] 
  

 
Bank’s Commitment and provided that all the Conditions set forth in Section 3 herein have been met. 
  
 (c) Non Revolving Facility; Loan Ratable. Each Bank’s Commitment
is not revolving in nature, and any portion of the Loan repaid or prepaid may not be reborrowed by the Borrower. The Loan shall be made from the several Banks ratably in proportion to their respective Commitment. Each Bank’s Commitment shall
terminate on the Expiration Date in proportion to the amount of such Bank’s Commitment. 
  
 SECTION 2.02. Promissory Notes. Each disbursement made by the Borrower under the Loan shall be evidenced by one or more Promissory Notes, guaranteed by aval by the Guarantors, payable to the order of the
relevant Bank in the account of its Applicable Lending Office, or in the account determined in writing by the Administrative Agent. 
  
 SECTION 2.03. Repayment. The Borrower shall pay the principal amount of each disbursement under the Loan in the maturity date of the relevant
disbursement, provided that such maturity date shall not exceed the Expiration Date. Each payment of any outstanding principal amount made pursuant to each disbursement shall be equal to the amount borrowed by the Borrower under the Loan pursuant to
such disbursement plus the applicable interests (the “Scheduled Payment”), as shown in the following payment calendar: 
  
 FIRST DISBURSEMENT. The equivalent in Pesos of US$90,000,000.00 (ninety million Dollars 00/100) at the exchange rate published by Banco de Mexico in the
Official Gazette of the Federation on the relevant Disbursement Date: 
  

				
	 PAYMENT DATE

	  	PRINCIPAL AMOUNT

	 30th month, February 16, 2007
	  	U.S.$	  9,000,000.00
	 36th month, August 16, 2007
	  	U.S.$	  9,000,000.00
	 42nd month, February 16, 2008
	  	U.S.$	13,500,000.00
	 48th month, August 16, 2008
	  	U.S.$	13,500,000.00
	 54th month, February 16, 2009
	  	U.S.$	18,000,000.00
	 60th month, August 16, 2009
	  	U.S.$	27,000,000.00

  
 SECOND DISBURSEMENT.
The equivalent in Pesos of US$10,000,000.00 (ten million Dollars 00/100) at the exchange rate published by Banco de Mexico in the Official Gazette of the Federation on the relevant Disbursement Date. 
  

 16 

 Translation from Spanish 
  
 [SEAL] 
  

				
	 PAYMENT DATE

	  	PRINCIPAL AMOUNT

	 30th
month, February 16, 2007
	  	U.S.$	l,000,000.00
	 36th
month, August 16, 2007
	  	U.S.$	l,000,000.00
	 42nd
month, February 16, 2008
	  	U.S.$	1,500,000.00
	 48th
month, August 16, 2008
	  	U.S.$	1,500,000.00
	 54th
month, February 16, 2009
	  	U.S.$	2,000,000.00
	 60th
month, August 16, 2009
	  	U.S.$	3,000,000.00

  
 The Borrower shall
make each Scheduled Payment in the account maintained by the Borrower with the Administrative Agent, who shall make the corresponding payments to each Bank from the amounts paid by the Borrower in such account. 
  
 SECTION 2.04. Interest Rates. (a) The outstanding balance of each Loan
disbursement shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate. Such interest shall be payable monthly in arrears on the last Business Day of the applicable Interest Period. Any amount due
hereunder and not paid at maturity (whether on the stated maturity date, upon acceleration or otherwise), shall bear delinquent interests until the date on which payment is made in full, including overdue interests, but only to the extent permitted
by law (after as well as before judgment), on such amounts at a rate per annum equal to 150% of the TIIE Rate that would have been applicable to calculate the Interest Rate corresponding to such payment, plus the applicable Margin (the
“Delinquent Interest Rate”). 
  
 (b) The
Administrative Agent shall determine each Interest Rate applicable to the Loans hereunder. The Administrative Agent shall give prompt notice to the Borrower and the Banks of each Interest Rate so determined. 
  
 (c) If the TIIE Rate may not be used as reference, the provisions of Section
8.01 shall apply. 
  
 SECTION 2.05. Optional Prepayments.
(a) Subject to Section 2.07, the Borrower may, upon at least three Business Day’s notice to the Administrative Agent, prepay any Loan disbursement, at any time, in whole or in part, in amounts exceeding MXP$10,000,000.00 (Ten Million Pesos
00/100) or any larger multiple of MXP$5,000,000.00 (Five Million Pesos 00/100), by paying the principal amount to be prepaid together with any accrued interest thereon until the prepayment date. Each such optional prepayment shall be applied to the
payment of Scheduled Payments in order of their maturity. 
  

 17 

 Translation from Spanish 
  
 [SEAL] 
  

 (b) Upon receipt of a notice of prepayment pursuant to this Section, the Administrative Agent shall
notify each Bank of the contents thereof and of such Bank’s ________ share of such prepayment and such notice shall not thereafter be revoked by the Borrower. 
  
 SECTION 2.06. Mandatory Prepayments. On the date interests are payable and due, the Borrower (i) after the first
anniversary of the date on which the Consolidated Borrower receives the Net Cash Proceeds from the sale of any asset in compliance with Section 5.07(b), exceeding in the aggregate the amount of U.S.$15,000,000.00 (Fifteen Million Dollars 00/100) or
its equivalent in Pesos, for any related individual transaction or series of transactions, 100% of the Net Cash Proceeds from such assets sale shall be applied to the prepayment of the principal amount of the Loan outstanding, unless the Borrower or
its Subsidiaries reinvest or compromise in writing to reinvest, within the following year of such asset sale, the Net Cash Proceeds in assets of any class which are used or can be used in the Borrower’s business or in any of its
Subsidiaries’ business, or (ii) after the date in which the Consolidated Borrower receives the Net Cash Proceeds from any equity public offering, 35% of the Net Cash Proceeds shall be applied to prepay the principal amount of the Loans
outstanding. 
  
 Prepayments made according to
this Section shall be made only on a date on which any Interest Period ends and shall be applied to the payment of Scheduled Payments in the order of their maturity. 
  
 SECTION 2.07. General Provisions as to Payments. (a) The Borrower shall make each payment of principal and interest
on the Loans, not later than 13:00 hours (Mexico City time) on the date when due, in Pesos, in immediately available funds in Mexico City, to the Administrative Agent’s account. The Administrative Agent shall distribute to each Bank its ratable
share from each payment received by the Administrative Agent to be credited to the Ranks. Whenever payments of principal or interest on Loans or other amounts due hereunder shall be paid on a day which is not a Business Day, the payment date thereof
shall be extended to the following Business Day. If the payment date of principal is extended by operation of law or otherwise, interest thereon shall be payable for such period. 
  
 SECTION 2.08. Breaking Funding Cost. If the Borrower makes any payment of principal with respect to any Loan pursuant
to Section 2.05 on any day other than the last day of an Interest Period applicable thereto, or if the Borrower fails to borrow or prepay any Loans after notice has been given to any Bank in accordance with Section 2.05(b) or 3.01(k), the Borrower
shall reimburse each Bank, within 15 days after demand, for any resulting expense incurred by it (or by an existing or prospective Participant in the related Loan), including (without limitation) any loss of margin until the then current Interest
Period ends, which shall be paid only in the event the TIIE Rate published on the pre-payment date or failure to borrow is lower than the TIIE Rate applicable for the relevant Interest Period, in which case the loss of margin shall be calculated as
the difference between such rates, multiplied by the amount of the Loan to be prepaid or which the Borrower failed to borrow, divided by 360 (three hundred and sixty) and further multiplied times the days remaining from the pre-payment date through
the date in which the then applicable Interest Period expires, provided, that such Bank shall have delivered to the Borrower a certificate describing the amount of such loss or expense. 
  

 18 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 2.09. Calculation of Interest. Interest based on the Interest Rate hereunder shall be
computed on the basis of a 360-day year and shall be paid for the actual number of days elapsed (including the first day but excluding the last one). 
  
 ARTICLE 3  
  
 CONDITIONS 
  
 SECTION 3.01. Closing. The execution of this Agreement shall occur on the Closing Date, and the obligation of each Bank to grant the Loans hereunder is subject to the satisfaction of the following conditions (with respect to each
document, dated on the Closing Date, unless otherwise indicated): 
  
 (a) receipt by the Administrative Agent, in the event that any disbursement under the Loan is made on such date, of Promissory Notes duly executed by the Borrower on the account of each Bank, on dated the Disbursement Date and complying
with the provisions of Section 2.02, and substantially in the form and substance of Exhibit C hereto; 
  
 (b) receipt by the Administrative Agent of an opinion issued by Ritch, Heather y Mueller, S.C., Mexican counsel for the Borrower and the Guarantors, in
form and substance reasonably satisfactory to the Administrative Agent and covering such additional matters relating to the transactions contemplated hereby as the Administrative Agent may reasonably request; 
  
 (c) receipt by the Administrative Agent of an opinion issued by Franck,
Galicia y Robles, S.C., in form and substance reasonably satisfactory to the Administrative Agent, covering such additional matters relating to the transactions contemplated hereby as the Administrative Agent may reasonably request; 
  
 (d) receipt by the Administrative Agent of counterparts hereof signed by each
of the parties hereto; 
  
 (e) receipt by the Administrative Agent
of duly executed counterparts of the Pledge Agreement, together with delivery to the Administrative Agent of (i) stock certificates of the Subsidiaries which shares are granted as collateral thereunder, endorsed in guaranty in favour of the
Administrative Agent for the benefit of the Banks; (ii) copies of the stock registry books of the relevant Subsidiary, certified by the Secretary, Assistant Secretary or authorized officer of each such Subsidiary, with respect to the shares granted
as collateral thereunder, evidencing registration of the pledge in the relevant stock registry book; and (iii) such other instruments and documents as are required to be delivered thereunder and such additional evidence as shall be satisfactory to
the Administrative Agent of the creation and perfection of the Liens intended to be created thereby; 
  
 (f) receipt by the Administrative Agent of a certificate, substantially in form of Exhibit F hereto, and any other form of evidence satisfactory to each
of them that all Liens granted in connection with the Existing Loan have been terminated and released; 
  

 19 

 Translation from Spanish 
  
 [SEAL] 
  

 (g) at the Closing Date, the Administrative Agent shall not have received notice from the Required
Banks that such Banks: 
  
 (i) have determined in
their good faith judgment that (x) there has occurred any material adverse change in the condition, financial or otherwise, results of operations, business, assets, debt service capacity, tax position, environmental liability or liabilities, or
operations of the Consolidated Borrower, since the date of the most recent audited financial statements heretofore received by the Banks; or (y) a material adverse change in the ability of any of the Obligors or any of their Consolidated
Subsidiaries to perform their obligations provided for in the Loan Documents; and 
  
 (ii) have determined in their good faith judgment that, since the date hereof, there has been a material disruption or adverse change
either in (A) international financial, banking or capital markets, (B) Mexican financial, economic or political conditions, which in the sole judgment of the Required Banks would make it impractical or inadvisable to proceed with the Loan;

  
 (h) the Administrative Agent shall have received a certificate
of an Executive Officer of the Borrower, substantially in the form of Exhibit G hereto, to the effect that (A) immediately before and after the Closing Date, no Default or event or condition known to the Borrower or its direct or indirect
Subsidiaries, which requires only the giving of notice and/or the lapse of time to become an Event of Default shall have occurred and be continuing; (B) the representations and warranties of such Obligor contained in this Agreement are true and
correct on and as of the Closing Date; (C) the execution, delivery and performance by such Obligor of this Agreement or any Loan Document, have been duly authorized by all necessary corporate action (if necessary) and (D) do not contravene, or
constitute a default under, any provision of applicable law, regulation or decree or such Obligor’s bylaws or of any other agreement, or of any judgment, injunction or order known thereto or that has been notified or communicated to the
Obligors or to the Consolidated Subsidiaries, or other instrument binding on such Obligor; 
  
 (i) receipt by the Agents of payment of the documented fees and expenses payable to the Agents in their own accounts and for the Bank’s several accounts, pursuant to the Commitment Documents (including, without
limitation, any fees and expenses of special counsel for the Agents); 
  
 (j) receipt of all documents the Administrative Agent may reasonably request relating to the existence of each of the Borrower, its Consolidated Subsidiaries and the Guarantors, the validity of and receipt of all filings, consents and
approvals (corporate and/or governmental), if any, required to execute and perform its obligations under this Agreement, the other Loan Documents, the continuing operations in all material respects of the Consolidated Borrower and the Guarantors,
and any other matters relevant hereto, all of them in form and substance satisfactory to the Administrative Agent, including, without limitation, the following: 
  
 (i) photostatic copies of each Obligor’s bylaws in full force and effect in its delivered form on the
Closing Date; 
  

 20 

 Translation from Spanish 
  
 [SEAL] 
  

 (ii) the powers of attorney, certified by a Mexican notary public, authorizing the
relevant officers of each Obligor to execute this Agreement and the other Loan Documents and any other document or certificate to be delivered on or prior to the Closing Date in connection with the transactions contemplated by this Agreement;

  
 (iii) Secretary’s Certificates, as the
case may be, duly completed by each Obligor in form and substance satisfactory to the Administrative Agent; 
  
 (k) that the Administrative Agent receives, (i) in the event that the Borrower requires a disbursement the day immediately after the Closing Date, on the
Closing Date, a disbursement request executed by the Borrower, substantially in the form of Exhibit E hereto and (ii) with at least two days in advance to each disbursement, for the subsequent disbursements; and 
  
 (1) there shall exist no pending litigation, proceedings or investigations,
notified or communicated to the Obligors or to the Consolidated Subsidiaries and which could reasonably be expected to have a material adverse change on the financial condition, operation, assets, business, properties or prospects of the
Consolidated Borrower or the Guarantors, and which exceed, in the aggregate, US$8,000,000.00 (Eight Million Dollars 00/100), or its equivalent amount in Pesos. 
  

ARTICLE 4 
  
 REPRESENTATIONS 
  
 Each Obligor represents to each Bank that: 
  
 SECTION 4.01. Corporate Existence, Powers and Ownership. Each Obligor is a mercantile corporation, duly incorporated and validly existing under the laws of Mexico, and has all corporate powers and all material
governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted. Each Operating Subsidiary acting as a Guarantor is a Wholly-Owned Subsidiary of the Borrower and Borrower owns the shares of the
Wholly-Owned Subsidiaries free and clear of any Liens or restrictions on transfer, except for such Liens derived from the Existing Loan, which are terminated and released on the date hereof and the Liens granted pursuant to the Loan Documents.

  
 SECTION 4.02. Corporate and Governmental Authorization; No
Contravention. The execution, delivery and performance by each Obligor of the Loan Documents to which it is a party, as well as the continuing operations in all material respects of each Obligor are within the corporate powers of such party,
have been duly authorized by all necessary corporate action (if necessary), require no action by or in respect of, or filing with, any Governmental Authority or any other Person (including, without limitation, any action or filing in connection with
pledging of the Pledged Properties and performance of the Collateral Documents) and do not contravene, or constitute a default under, any provision of any applicable law, regulation or decree, or of the bylaws of such party or of any material
agreement, or of any judgment, injunction or order known or that has been notified or communicated to the Obligors or to the Consolidated Subsidiaries, or other instrument binding upon such party or any of its Consolidated Subsidiaries or result in
the creation or imposition of any Lien on any asset of an 

  

 21 

 Translation from Spanish 
  
 [SEAL] 
  

 
Obligor or of any Consolidated Subsidiary, other than the Liens created under the Pledge Agreement. 
  
 SECTION 4.03. Binding Effect; Enforceability of Loan Documents; No Default
Under Contracts. (a) Each Loan Document (other than the Promissory Notes and the Subsidiaries’ Agreement) constitutes a valid and binding agreement of each Obligor thereto, and each Note as well as the Subsidiaries’ Agreement, when
executed and delivered in accordance with this Agreement, will constitute valid and binding obligations of each Obligor party thereto, in each case enforceable in accordance with its terms, except as limited by bankruptcy, insolvency procedures
(“concurso mercantil”) or similar laws
affecting creditors’ rights generally. 
  
 (b) In
addition, each of the Loan Documents is in proper legal form for purposes of enforcement in Mexico by the Administrative Agent, the Syndication Agent or any Bank, as the case may be, of any Obligor’s obligations thereunder, and to ensure the
legality, validity, enforceability or admissibility as evidence of any of the Loan Documents in Mexico, it is not necessary that such Loan Document or any other document be filed or recorded with any court or other authority in Mexico. 

 
 (c) All material leases, contracts and agreements to which any Obligor is
a party are in full force and effect and not subject to any dispute between the parties thereto. No Obligor is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any contract,
indenture, lease or other agreement to which it is a party, which could adversely affect the business, consolidated financial position or consolidated results of operations of each such Obligor. 
  
 SECTION 4.04. Financial Information; Solvency. (a) The balance sheet
of the Consolidated Borrower and Grupo Cinemex as of December 31, 2003 and the related consolidated statements of income, changes in stockholders’ equity and changes in financial position for the Fiscal Year then ended, reported on by
PriceWaterhouseCoopers, S.C, a copy of which has been delivered to each of the Banks, fairly present, in conformity with Mexican GAAP, the consolidated financial position of the Consolidated Borrower and Grupo Cinemex as of such date and their
consolidated results of operations and cash flows for such Fiscal Year. 
  
 (b) Since December 31, 2003 there has been no material adverse change in the business, financial condition, results, assets, properties, operations or prospects of the Consolidated Borrower and Grupo Cinemex. 
  
 (c) Each of the Obligors and each of the Consolidated Subsidiaries is
Solvent, except for Cinemex Masaryk, S.A. de C.V., Cinemex Toluca II, S.A. de C.V., Cinemex San Antonio, S.A. de C.V., Cinemex Tenayuca, S.A. de C.V., Cinemex Jacarandas, S.A. de C.V., Cinemex El Rosario, S.A. de C.V., Cinemex. Coacalco, S.A. de
C.V., FICC Ciudad de México, S.A. de C.V., Cinemex Producciones, S.A. de C.V., Producciones Expreso Astral, S.A. de C.V., Operadora Moliere, S.A. de C.V. and Teatro Polanco, S.A. de C.V. 
  
 SECTION 4.05. Compliance with Laws and Licenses. Limited Liability.
Each of the Obligors and their Consolidated Subsidiaries are in compliance with (i) all applicable 

  

 22 

 Translation from Spanish 
  
 [SEAL] 
  

 
laws, ordinances, rules, regulations and requirements of Governmental Authorities including without limitation, IMSS, INFONAVIT, SAR, environmental laws and
the rules and regulation thereunder), (ii) all terms and conditions of all governmental licenses and authorizations required to carry on their respective business and (iii) all orders, decrees, judgments or other determinations of any arbitrator or
Governmental Authority applicable to them, in each of (i), (ii) and (iii) above, except where the non-compliance therewith could not reasonably be expected to have a material adverse effect on the business, condition (financial or otherwise),
results of operations or prospects of the Obligors and the Consolidated Subsidiaries, taken as a whole. 
  
 SECTION 4.06. Litigation. There is no action, suit, proceeding or investigation pending against, which has been notified or communicated to the
Obligors, (or to the best of each Obligor’s knowledge, threatened) affecting any of the Obligors or any of the Consolidated Subsidiaries before any court or arbitrator or any governmental body, agency or official in which there is a reasonable
possibility of an adverse decision, which could materially adversely affect the business, assets, consolidated financial condition, or consolidated results of operations of the Consolidated Borrower and/or the Guarantors, or which in any manner
draws into question the validity and enforceability of this Agreement or any of the other Loan Documents. 
  
 SECTION 4.07. Ownership of Properties. Except as provided under Schedule 4.07 hereto, each Obligor owns (i) in the case of owned real or personal
property, good and marketable title to, and (ii) in the case of leased real or personal property, valid and enforceable leasehold interests, in both cases, free and clear of all Liens or claims, except for Liens permitted pursuant to Section 5.08.

  
 SECTION 4.08. Commercial Law; Immunity. Under
the laws of Mexico, with respect to the execution, delivery and performance of this Agreement and the other Loan Documents, each Obligor and each Consolidated Subsidiary, is subject to Mexican private commercial law, and neither the Borrower, the
Guarantors, nor any of the Consolidated Subsidiaries or properties of any of them, have any immunity from the jurisdiction of any Mexican court or any legal process in Mexico (whether through service of process, attachment prior to notice,
attachment prior to judgment, attachment in aid of execution, execution or otherwise). 
  
 SECTION 4.09. Taxes. The Obligors and the Consolidated Subsidiaries have filed all income tax returns and all other material tax returns which are required to be filed by them and have paid all taxes due
pursuant to such returns, except where the same are being contested in good faith by appropriate proceedings, provided that the Obligors and the Consolidated Subsidiaries have maintained, in accordance with Mexican GAAP, appropriate reserves and, if
applicable, have guaranteed any actual and potential tax liability. The charges and reserves on the books of the Obligors and the Consolidated Subsidiaries in respect of taxes or other governmental charges are adequate, in the Obligors’
opinion. 
  
 SECTION 4.10. Full Disclosure. All
information furnished or made available by the Obligors to the Administrative Agent, the Syndication Agent or any Bank for purposes of or in connection with the Loan Documents or any transaction contemplated hereby is, and all such information
hereafter furnished by the Obligors to the Administrative Agent, the 

  

 23 

 Translation from Spanish 
  
 [SEAL] 
  

 
Syndication Agent or any Bank will be, true and accurate in all material respects on the__ of which such information is stated or certified and will not fail
to disclose to the Administrative Agent any documents or information that would render any such information misleading. Each Obligor has disclosed to the Banks in writing any and all facts which materially and adversely affect or may affect (to the
extent such Obligor can now reasonably foresee), the business, operations or financial condition of the Obligors or any of the Consolidated Subsidiaries or the ability of the Obligors to perform their obligations under the Loan Documents to which
each of them is a party. 
  
 SECTION 4.11. Priority of
Obligations. Payment of the Obligors’ obligations under the Loan Documents to which each is a party thereto, rank at least pari passu with all other unsubordinated indebtedness of such Obligors existing as of the
Effective Date. 
  
 SECTION 4.12. True and Correct
Representations in the Loan Documents. Each of the representations and warranties of the Obligors contained in the Loan Documents is true and correct and does not omit to state any information that would render any of the representations
or warranties herein or therein misleading. 
  
 SECTION 4.13.
Subsidiaries. Schedule 2 hereof contains a true and correct list of all the Borrower’s Subsidiaries, existing on the date hereof. 
  
 ARTICLE 5 
  
 COVENANTS 
  
 The Borrower, and the Guarantors if and when applicable, as described below, agree to comply with this Article 5 so long as any Bank has any Commitment hereunder or any amount payable hereunder or under any Note remains unpaid; in the
understanding that the determination of Sections 5.07 to 5.14, inclusive, and Section 5.23 shall be delivered to the Administrative Agent together with the certificate referred to in Section 5.01(f). 
  
 SECTION 5.01. Information. The Borrower and the Guarantors
agree, if and when applicable, as described below, to deliver to the Administrative Agent: 
  
 (a) as soon as available and in any event (i) within 120 days after the end of each Fiscal Year, a consolidated balance sheet of the Consolidated Borrower as of the end of such Fiscal Year and the related consolidated
statements of income, stockholders’ equity and changes in financial position for such Fiscal Year, setting forth in each case, in comparative form, the figures for the previous fiscal year, each reported on by PriceWaterhouseCoopers, S.C. or
other independent public accountants of internationally recognized standing; and (ii) simultaneously with the delivery of each set of financial statements referred to in this clause (a) a statement of the firm of independent public accountants which
reported on such statements (x) explaining whether anything has cause them to believe that any Default existed on the date of such statements and (y) confirming the calculations set forth in the officer’s certificate delivered pursuant to Annex
(f) below (but only in respect of the financial statements referred to in this clause (a)); 
  

 24 

 Translation from Spanish 
  
 [SEAL] 
  

 (b) as soon as available and in any event within 60 days after the end of each of the first three
quarters of each Fiscal Year, a consolidated balance sheet of the Consolidated Borrower and the related statements of income and changes in financial position for such quarter and for the portion of the Consolidated Borrower’s previous Fiscal
Year ended at the end of such quarter, compared with the same quarter of the preceding year or in the preceding Fiscal Year, all of them certified by the Borrower’s chief accounting officer (subject to normal year-end adjustments, including the
notes to the financial statements) as to fairness of presentation, Mexican GAAP and consistency; 
  
 (c) as soon as available and in any event within 120 days after the end of each Fiscal Year of Grupo Cinemex, a balance sheet of Grupo Cinemex, as of the
end of such fiscal year setting forth comparative figures of the preceding Fiscal Year, all certified by Grupo Cinemex’s chief financial officer or chief accounting officer, as to fairness of presentation, Mexican GAAP and consistency;

  
 (d) as soon as available and in any event within 150 days
after the end of each Fiscal Year of each Operating Subsidiary, the statements of income and changes in financial position for such Fiscal Year for such Operating Subsidiary, setting forth in each case comparative figures of the preceding Fiscal
Year, all certified by such Operating Subsidiary’s chief financial officer or chief accounting officer, as to fairness of presentation, Mexican GAAP and consistency; 
  
 (e) as soon as available and in any event within 60 days after the end of each of the first three quarters of each Fiscal
Year, an income statement of each Operating Subsidiary, and the portion of such Operating Subsidiary ‘s preceding Fiscal Year, setting forth comparative figures of the corresponding quarter and the corresponding portion of such Operating
Subsidiary’s preceding Fiscal Year where applicable, all certified by such Operating Subsidiary’s chief financial officer or chief accounting officer (subject to normal year-end adjustments, including the notes to the financial statements)
as to fairness of presentation, Mexican GAAP and consistency; 
  
 (f) simultaneously with the delivery of each set of financial statements referred to in clauses (a) to (e) above, a certificate of an Executive Officer of the relevant Obligor (i) setting forth in reasonable detail the calculations required
to establish whether such Obligor and/or its Consolidated Subsidiaries were in compliance with the requirements of Sections 5.07 to 5.14, inclusive, and Section 5.23 on the date of such financial statements and (ii) stating whether any Default
existed on the date of such certificate and, if any Default then exists, setting forth the details thereof and the action which such Obligor has taken or proposes to take with respect thereto; 
  
 (g) within five days after any Obligor obtains knowledge of any Default, and
if such Default is then continuing, a certificate of an Executive Officer of such Obligor setting forth the details thereof and the action which such Obligor has taken or proposes to take with respect thereto; 
  
 (h) as soon as reasonably practicable after any Obligor obtains knowledge of
the commencement of, or of a threat of the commencement of, any material legal action, suit or 

  

 25 

 Translation from Spanish 
  
 [SEAL] 
  

 
proceeding against such Obligor or any of its Consolidated Subsidiaries, before any arbitrator or Governmental Authority, a certificate of an Executive
Officer setting forth the nature of such pending or threatened action, suit or proceeding and such additional information, to the extent available, with respect thereto as may be reasonably requested by the Administrative Agent, at the request of
any Bank; and 
  
 (i) from time to time, such additional
information regarding the financial position or business of any of the Obligors and/or any of the Consolidated Subsidiaries as the Administrative Agent, at the request of any Bank, may reasonably request. 
  
 SECTION 5.02. Payment of Obligations. The Consolidated Borrower, the
Guarantors and the Operating Subsidiaries shall pay and discharge, at or before maturity, all their respective material obligations and liabilities (including, without limitation, tax liabilities and claims of material men, warehousemen and the like
which if unpaid might by law give rise to a Lien), except where the same may be contested in good faith by appropriate proceedings (including administrative proceedings), and shall maintain, and shall cause each of its Consolidated Subsidiaries to
maintain, in accordance with Mexican GAAP, appropriate reserves for the accrual of any of the same and, if necessary, to guarantee any actual and potential tax liability. 
  
 SECTION 5.03. Maintenance of Property; Insurance. (a) Each Obligor shall keep, and shall cause each Consolidated
Subsidiary to keep, all property useful and necessary in their business in good working order and condition, ordinary wear and tear excepted. 
  
 (b) The Obligors and the Consolidated Subsidiaries shall maintain with financially sound and responsible insurance companies, insurance on all their
respective properties in at least such amounts, against at least such risks and with no greater coverage that the currently maintained, insured against or retained, as the case may be, in Mexico by companies of established repute engaged in the same
or a similar business; and at the Administrative Agent’ request, shall provide information to the Banks in reasonable detail as to the insurance so carried. 
  
 SECTION 5.04. Compliance with Laws. Each Obligor shall comply and shall cause each of its Consolidated Subsidiaries
to comply in all material aspects with all applicable laws, ordinances, rules, regulations, and requirements of governmental authorities (including, without limitation, all environmental laws, IMSS, INFONAVIT and SAR and the rules and regulations
thereunder), except where (i) the need to comply therewith is contested in good faith by appropriate proceedings (and, if necessary, guaranteeing any actual and potential tax liability); and (ii) the failure to so comply could not reasonably be
expected to have a material adverse change on the business, consolidated financial position or consolidated results of operations of the Obligors and their Consolidated Subsidiaries or the ability of any Obligor to perform its obligations under the
Loan Documents and or the Revolving Loan. 
  
 SECTION 5.05.
Conduct of Business and Maintenance of Existence. The Borrower shall continue, and shall cause each of its direct and indirect Subsidiaries to continue, to engage in business of the same general type as now conducted by the Borrower and each
of its direct and indirect Subsidiaries, and shall preserve, renew and keep in full force and effect, and shall cause each of its direct and indirect Subsidiaries to preserve, renew and keep in full force 

  

 26 

 Translation from Spanish 
  
 [SEAL] 
  

 
and effect their respective corporate existences and their respective rights, privileges and franchises necessary or desirable in the normal course of
business; provided, that nothing in this Section shall prohibit: 
  
 (a) merger of a Subsidiary of the Borrower into the Borrower or of the Borrower into Grupo Cinemex if, at such time and after giving effect thereto, no Default shall exist or have occurred and be continuing and in the case of a merger of
the Borrower into Grupo Cinemex, the resulting entity assumes all the Borrower’s obligations under the Loan Documents and the requirements of Section 5.07 (a) (A) herein are met; 
  
 (b) merger or consolidation of one or more Subsidiaries of the Borrower with or into another Subsidiary of the Borrower if,
at such time and after giving effect thereto, no Default exists or has occurred or continues; provided, that with respect to a merger permitted by this paragraph (b) which involves a Subsidiary of the Borrower, the capital stock shares of which are
subject to the Pledged Agreement (a “Pledged Subsidiary”), if the surviving entity of such merger is not a Pledged Subsidiary, then prior to or simultaneously with the consummation of such merger, the Borrower shall subject the
capital stock shares of a Substitute Subsidiary to the terms of the Pledge Agreement. For purposes of this paragraph (b), the term “Substitute Subsidiary” means a Subsidiary of the Borrower whose attributable portion of
Consolidated EBITDA for the four Fiscal Quarters most recently ended is at least equal to the attributable portion of Consolidated EBITDA (for the same period) of the Pledged Subsidiary, whose of capital stock shares are no longer subject to the
terms of the Pledge Agreement; 
  
 (c) termination of the
corporate existence of one or more Subsidiaries of the Borrower or the closing of one or more theaters or a theater complex if the Borrower in good faith determines that such termination or closing is in the best interest of the Borrower and such
termination or closing does not affect any Obligor’s ability to perform its obligations under the Loan Documents and/or the Revolving Loan Agreement or the Administrative Agent’s or any Bank’s rights under the Loan Documents and/or
the Revolving Loan Agreement and; provided, that, the corporate existence of a Guarantor or a Subsidiary of the Borrower whose shares are pledged pursuant to the Pledge Agreement shall not be terminated except (x) as permitted by paragraph (b)
above, or (y) if such Subsidiary is replaced with a Substitute Subsidiary; or 
  
 (d) merger of the Borrower pursuant to Section 5.07. 
  
 SECTION 5.06. Inspection of Property, Books and Records. The Obligors shall keep proper books of record and account in which full, true and correct entries shall be made of all dealings and transactions in
relation to its business and activities; and shall permit representatives of any Bank at such Bank’s expense and cost, to visit and inspect any of their respective properties, to examine and make abstracts from any of their respective books and
records (unless prohibited by law) and to discuss their respective affairs, finances and accounts with their respective Executive Officers, employees, counsel and independent public accountants, all at such reasonable times and as often as may
reasonably be requested; provided, that if an Event of Default has occurred and continues, any visits, inspections, examinations and discussions permitted by this Section 5.06 shall be at the Obligors’ cost and expense. 
  

 27 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 5.07. Mergers and Assets Sales (a) The Borrower shall not consolidate, or merge with
or into any other Person; provided, that as long as no Default has occurred and is continuing, (A) the Borrower may merge with or into Grupo Cinemex or any Subsidiary of the Borrower established and existing under the laws of Mexico, (i) if the
surviving entity, is a Person other than the Borrower, such Person assumes all the Borrower’s obligations under the Loan Documents by operation of law or pursuant to an agreement satisfactory to the Required Banks, and (ii) immediately after
giving effect to such merger, no Default shall have occurred and be continuing; (B) except for a merger of a Subsidiary of the Borrower, in which case the provisions of this paragraph (B) shall not apply, a Person may merge with and into the
Borrower as long as (i) within 10 Business Days prior thereto the Borrower notifies the Administrative Agent of such merger, (ii) the Borrower survives such merger, (iii) on a pro forma basis after giving effect to such merger, the Borrower would be
in compliance with Sections 5.09 through 5.14 for the four Fiscal Quarters ending immediately prior to such merger and (iv) immediately after giving effect to such merger, no Default shall have occurred and be continuing and (C) the foregoing
restrictions shall not apply to any merger of Grupo Cinemex with Symphony Subsisting Vehicle, S. de R.L. de C.V. or with any other Affiliate owner of shares issued by Grupo Cinemex. 
  
 (b) Neither the Borrower, the Guarantors, nor the Operating Subsidiaries shall sell, lease, transfer or otherwise dispose of
(including any actions in connection with a Sale and Leaseback Transaction) any of its assets, except for (i) sales and dispositions by the Obligors in the ordinary course of business (including the disposition of recovered assets); (ii)
dispositions by the Obligors of obsolete, worn out or surplus property disposed of in the ordinary course of business, (iii) sales, leases, transfers or other dispositions of assets by a Wholly-Owned Subsidiary of the Borrower to any other
Wholly-Owned Subsidiary of the Borrower, (iv) sales, leases, transfers or other dispositions of assets by any Wholly-Owned Subsidiary of the Borrower to the Borrower, (v) sales, transfers or dispositions of assets by the Borrower or any of its
Consolidated Subsidiaries, provided, that any such sales, transfers or dispositions covered under this clause shall, in the aggregate, during term of this Agreement, include assets with an aggregate fair market value not to exceed US$20,000,000.00
(Twenty Million Dollars 00/100) or its equivalent amount in Pesos; and (vi) transfers or dispositions of assets by the Obligors not otherwise permitted by clauses (i) through (v) above, as long as in exchange for any such transfer or disposition the
Obligors receive cash or assets with a fair market value at least equal to the fair market value of the assets transferred or disposed of by such Obligors. 
  
 SECTION 5.08. Limitation on Liens. Neither the Borrower nor any Consolidated Subsidiary shall create, assume or suffer the existence of any Lien on
any asset now owned or hereafter acquired by it (including any Liens to guarantee third party obligations), except: 
  
 (a) Liens specified on Schedule 5.08; 
  
 (b) any existing Lien on any Person at the time such Person becomes a Subsidiary and not created in contemplation of such event; 
  
 (c) any Lien on any asset securing Debt incurred or assumed for the purpose
of financing all or any part of the cost of acquiring, building or improving such asset, provided, that (i) such Lien attaches to such asset concurrently with or within 270 days after such acquisition, 

  

 28 

 Translation from Spanish 
  
 [SEAL] 
  

 
building or improvement, and (ii) the aggregate amount of such Liens do not exceed, during the term of the agreement, the amount of US$20,000,000.00 (Twenty
Million Dollars 00/100), or its equivalent amount in Pesos; 
  
 (d) any Lien on any asset of any Person existing at the time such Person is merged or consolidated with or into the Borrower or a Subsidiary, under the terms of this Agreement and not created in contemplation of such event; 
  
 (e) any Lien existing on any asset prior to the acquisition thereof by the
Borrower or a Subsidiary and not created in contemplation of such acquisition; 
  
 (f) any Lien arising out of the refinancing, extension, renewal or refunding of any Debt secured by any Lien permitted by any of the foregoing clauses of this Section, provided, that such Debt is not increased
and is not secured by any additional assets; 
  
 (g) Liens (other
than Liens referred to in clause (h) below) arising in the ordinary course of its business which (i) do not secure Debt and (ii) do not secure obligations (or class of obligations having a common cause) in an amount exceeding 20% of the Consolidated
EBITDA of the Borrower and its Consolidated Subsidiaries for the preceding four completed Fiscal Quarter period; 
  
 (h) any Lien securing taxes, assessments and other government changes, the payment of which (i) is not yet due or (ii) is being contested in good faith by
appropriate proceedings, and for which reserves, if required by Mexican GAAP, shall have been created; provided, such contested amount shall not exceed, individually or taken together with all other contested amounts, the amount of
US$4,500,000.00 (Four Million Five Hundred Thousand Dollars 00/100) or its equivalent amount in Pesos; 
  
 (i) Liens created by the Pledge Agreement; 
  
 (j) Liens created by virtue of a judicial authority, in existence less than 30 days after the entry thereof or with respect to which execution has been
stayed or the payment of which is covered in full (subject to a customary deductible) by an insurance or bond; 
  
 (k) as to a particular property, such easements, boundary limits, agreements or rights of way which do not impair the use of such property for the purpose
for which it is held by the owner or lessee thereof; 
  
 (l) Liens
on any or all of the shares representing the capital stock of Unrestricted Subsidiaries to secure Debt, as long as the amount of Debt incurred would not result in any breach to Sections 5.09 and 5.10; 
  
 (m) Liens otherwise not permitted by the foregoing clauses in this Section,
securing Debt in an aggregate principal or face amount at any time outstanding not to exceed US$2,000,000.00 (Two Million Dollars 00/100), or its equivalent amount in Pesos; and 
  
 (n) Liens, deemed as such, arising from securitization or factoring transactions, as long as, the remedy against the
Borrower or the Consolidated Subsidiary, as the case may be, is 

  

 29 

 Translation from Spanish 
  
 [SEAL] 
  

 
limited to accounts receivable transferred under the relevant transaction, and not exceeding U.S.$1,000,000.00 (One Million Dollars 00/100) or its equivalent
amount in Pesos. 
  
 Notwithstanding the foregoing, neither the
Borrower nor any of its Consolidated Subsidiaries shall create, assume or cause the existence of any Lien on any Pledged Property pursuant to the Pledge Agreement, other than Liens described in clause (i) above. 
  
 SECTION 5.09. Total Net Debt/EBITDA Ratio. On the last day of each
Fiscal Quarter during the term of this Agreement, determined on a four quarter rolling basis, the Total Net Debt/EBITDA Ratio of the Consolidated Borrower shall not exceed the ratio set forth opposite such period: 
  

			
	 Period

	  	Ratio

	 From the Closing Date through and including August 26, 2005
	  	3.50
	 From August 26, 2005 through July 26, 2006
	  	3.50
	 From August 26, 2006 through July 26, 2007
	  	3.25
	 From August 26, 2007 through July 26, 2008
	  	3.00
	 From August 26, 2008 through July 26, 2009
	  	3.00

  
 SECTION 5.10. Total
Net Debt/Capital Ratio. On the last day of each Fiscal Quarter during the term of this Agreement, the Total Net Debt/Consolidated Net Worth Ratio of the Consolidated Borrower, considering the last four quarters, shall not exceed the ratio set
forth opposite such period: 
  

 30 

 Translation from Spanish 
  
 [SEAL] 
  

			
	 Period

	  	Ratio

	 From the Closing Date through and including August 26, 2005
	  	2.00
	 From August 26, 2005 through July 26, 2006
	  	2.00
	 From August 26, 2006 through July 26, 2007
	  	2.00
	 From August 26, 2007 through July 26, 2008
	  	1.75
	 From August 26, 2008 through July 26, 2009
	  	1.75

  
 SECTION 5.11.
Interest Coverage Ratio. On the last day of each Fiscal Quarter, considering the last four quarters, the Interest Coverage Ratio shall not be lower than the ratio set forth opposite such period: 
  

			
	 Period

	  	Ratio

	 From the Closing Date through and including August 26, 2005
	  	3.00
	 From August 26, 2005 through July 26, 2006
	  	3.00
	 From August 26, 2006 through July 26, 2007
	  	3.00
	 From August 26, 2007 through July 26, 2008
	  	3.25
	 From August 26, 2008 through July 26, 2009
	  	3.25

  
 SECTION 5.12.
True-Lease /Adjusted Leverage Ratio. On the last day of each Fiscal Quarter during the term of this Agreement, the True-Lease/ Adjusted Leverage Ratio of the Consolidated Borrower, considering the last four quarters, shall not be equal to or
exceed 5.00. 
  

 31 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 5.13. [Intentionally Omitted] 
  
 SECTION 5.14. Minimum Consolidated Net Worth. Consolidated Net Worth during the term of this Agreement shall at no
time be less than MXN$750,000,000.00 (Seven Hundred Fifty Million Pesos 00/100) plus an amount equal to 50% of the Consolidated Net Profits for the immediately preceding Fiscal Year. 
  
 SECTION 5.15. Investments. (a) Neither the Borrower, nor its direct or indirect Subsidiaries nor Grupo Cinemex shall
make or hold any Investment in any Person, and shall not make any acquisition, other than: 
  
 (i) Temporary Cash Investments, 
  
 (ii) Investments in Persons which (1) are Subsidiaries on the date hereof, (2) are Guarantors, or (3) otherwise are or will become
Subsidiaries as a result of such Investment, or (4) business is related to the Borrower’s line of business, and 
  
 (iii) any Investments not otherwise permitted by the foregoing clauses of this Section if, immediately after such Investment is made or
acquired, the amount of all Investments made pursuant to this clause (iii) during the term of this Agreement does not exceed an amount equal to 6% of the Consolidated EBITDA of the Borrower and its Consolidated Subsidiaries for the preceding
completed four Fiscal Quarter period; and 
  
 (iv) loans to its Affiliates, other than the one mentioned in the preceding clause (ii), on an arms length basis, provided that all the covenants set forth in Section 5 have been complied. The loans referred to in this clause (iv) may only
be carried completed following the conclusion of month 36 (thirty six), computed as of the date of execution of this Agreement. 
  
 (b) Restrictions in paragraph (a) above shall only apply to Grupo Cinemex in respect of funds received by it as distributions or dividends by Borrower or
its direct or indirect Subsidiaries. 
  
 SECTION 5.16.
Restricted Payments. Neither the Borrower nor Grupo Cinemex nor any Subsidiary may enter into or declare or make any Restricted Payment, except for (1) Restricted Payments after December 31, 2005, as long as no Event of Default exists,
provided that in the event an Event of Default exists, the Borrower may only pay to Grupo Cinemex dividends in an amount not to exceed US$30,000,000.00 (thirty million Dollars 00/100) as long as such Event of Default continues; (2) Restricted
Payments by any Subsidiary to the Borrower; and (3) payments to the employees of Grupo Cinemex or the Borrower under stock option plans for such employees, provided, further that, during the Loan term, such payments, in the aggregate, shall not
exceed 10% of the outstanding capital stock of the Borrower or Grupo Cinemex, as the case may be, on the date the payment or delivery of the relevant shares occurs, and provided, further that any shares included in such stock option
plans shall be recently issued shares and not previously existing shares. 
  
 SECTION 5.17. Transactions with Affiliates. The Consolidated Borrower shall not directly or indirectly pay any funds to or on account of, make any Investment in, lease, sell, 

  

 32 

 Translation from Spanish 
  
 [SEAL] 
  

 
transfer or otherwise dispose in any way whatsoever of any of its assets, tangible or intangible, __ participate in, or effect any transaction with any
Affiliate, unless on an arm’s-length basis on terms at least as favourable for the Consolidated Borrower as could have been obtained from a third party or as otherwise permitted hereunder; provided, that the foregoing provisions of this
Section shall not prohibit any Subsidiary from making any Restricted Payments permitted by clause (2) of Section 5.16. 
  
 SECTION 5.18. Contingent Liabilities. The Consolidated Borrower shall not, directly or indirectly, incur in any contingent obligation or contingent
liability, exceeding an aggregate amount of US$8,000,000.00 (Eight Million Dollars 00/100), or its equivalent amount in Pesos; provided however, that the aforementioned restriction shall not apply to (i) contingent liabilities related to advance
payments in respect of suppliers’ exclusivity and/or advertising rights and (ii) ) liabilities resulting from derivatives transactions executed with hedging purposes. Notwithstanding the foregoing, the Obligors shall in no event guarantee or
secure any existing or future obligation of any third party to this Agreement or the shareholders thereof. 
  
 SECTION 5.19. Use of Proceeds. Loans granted under this Agreement shall be used by the Borrower exclusively for the Loan Purpose. 
  
 SECTION 5.20. Ranking. The Obligors shall ensure that at all times the
Obligors’ obligations under the Loan Documents, except as otherwise provided under Section 5, rank at least pari passu with respect to any secured and unsubordinated obligations of the Obligors existing as of the execution date of this
Agreement. 
  
 SECTION 5.21. Debt with Affiliates. The
Borrower shall not enter into any Debt with the Affiliates, except for (i) the Subordinated Debt; (ii) Debt or fees owed by the Borrower, the Guarantors and/or their Subsidiaries, in favour of each other or among them; (iii) trade debt and all
payments to be made in the ordinary course of business; and (iv) in addition to paragraphs (i), (ii) and (iii) any Debt by the Borrower with its Affiliates, on an arms length basis and provided that Guarantees granted with respect to Debt described
in this section (iv) shall not be senior to the Guarantees granted in connection with this Agreement and the Revolving Loan and such Debt shall not exceed U.S.$30,000,000.00 (Thirty Million Dollars 00/100). 
  
 SECTION 5.22. [Intentionally Omitted]. 
  
 SECTION 5.23. Capital Expenditures. The Consolidated Borrower shall
not incur during any four consecutive Fiscal Quarters, considering the last four quarters, in expenditures or commitments for expenditures for fixed and other non-current assets, or for replacements, substitutions or additions thereto (other than
repairs thereto) (“Capital Expenditures”), in excess of the Capital Expenditures Limit, at the time in which such Capital Expenditures are incurred. Notwithstanding the foregoing, the Consolidated Borrower shall not incur in
Capital Expenditures in the event an Event of Default occurs and is continuing. For purposes of the above, Capital Expenditures shall not include the Investments made by the Consolidated Borrower in the acquisition of companies that operate movie
theatres or in the acquisition of movie theatres. 
  

 33 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 5.24. Powers of Attorney. The Borrower shall deliver Administrative Agent, on the
Closing Date, a certificate of incumbency, substantially in Exhibit H hereto, certifying that the relevant officers of each Obligor have all powers of attorney or authorizations necessary to execute this Agreement and the other Loan Documents.

  
 SECTION 5.25. Guarantors. (a) The Borrower shall
inform the Administrative Agent of the incorporation of any future Operating Subsidiary, within the following six months of the relevant incorporation. The Borrower shall cause each Subsidiary that is or becomes a new Operating Subsidiary, whether
by acquisition, incorporation or otherwise, after the Effective Date to: (i) execute and deliver to the Administrative Agent a Subsidiaries’ Agreement substantially in the form of Exhibit D hereto and sign the Promissory Notes “por
aval” (to become a “Guarantor”, and an “Obligor” hereunder); and (ii) deliver such proof of corporate or other action, as the case may be, incumbency of officers, legal opinions and other documents as is reasonable and
consistent with those delivered by each Obligor pursuant to Article 3 on the Closing Date or as the Administrative Agent reasonable request. The Borrower agrees that all actions required to comply with its commitments under this Section, shall be
completed as soon as possible, but in no event later than 45 days after such action is requested to be taken by the Agents and/or the Banks. 
  
 (b) During the term of this Agreement and until each and all obligations of the Obligors under the Loan Documents are satisfied, the assets and EBITDA of
the Operating Subsidiaries which are Guarantors hereunder shall not represent less than 90% of the total assets and EBITDA of the Consolidated Borrower. 
  
 ARTICLE 6 
  
 DEFAULTS 
  
 SECTION 6.01. Events of Default. If one or more of the following events (“Events of Default”) shall have occurred and be continuing: 
  
 (a) the Obligors, fail to pay any principal when due, or any interest, fees or any other amounts payable under the Loan
Documents and the Revolving Loan Agreement within three Business Days following the payment due of any of such amounts; 
  
 (b) any Obligor fails to observe or perform any covenant contained in Sections 5.07 through 5.23 hereof, inclusive, or if an Event of Default occurs as
stated in the Pledge Agreement and/or the Revolving Loan Agreement; 
  
 (c) any Obligor fails to observe or perform any covenant or agreement contained in this Agreement (other than those covered by clause 6.01(a) or 6.01(b) above) or any other Loan Document and/or the Revolving Loan Agreement for 30 days after
the Borrower became aware thereof; 
  
 (d) any representation,
warranty or certification made by any Obligor in any Loan Document and/or the Revolving Loan Agreement or in any certificate, financial statement or other document delivered pursuant to any Loan Document and/or the Revolving Loan 

  

 34 

 Translation from Spanish 
  
 [SEAL] 
  

 
Agreement proves to have been untrue or misleading in any material respect when made (or deemed made); 
  
 (e) the Borrower, its Consolidated Subsidiaries and/or the Guarantors, fail
to make one or more payments in respect of Material Financial Obligations when due or after any applicable grace period; 
  
 (f) any event or condition occurs which results in the acceleration of the maturity of any Material Debt or enables (or, with the giving of notice), would
enable the holder of such Debt or any Person acting on such holder’s behalf to accelerate the maturity thereof or enables any Person to terminate its commitment to provide financing to the Borrower or any Consolidated Subsidiary which would
constitute Material Debt; 
  
 (g) the Borrower, the Guarantor or
any Material Subsidiary commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency procedure (“concurso mercantil”) or
other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar officer of it or any substantial part of its property, or consents to any such relief or to the appointment of or
taking possession by any such official in an involuntary case or other proceeding commenced against it, or makes a general assignment for the benefit of creditors, or fails generally to pay its debts as they become due, or takes any corporate action
to authorize any of the foregoing; 
  
 (h) an involuntary case or
other proceeding is commenced, against the Borrower or any Guarantor or the Material Subsidiaries seeking liquidation, dissolution, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency procedure
(“concurso mercantil”) or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar officer of it or any substantial part of its property, and such
involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 days; or an order for relief shall be entered against such Borrower, Guarantor or Material Subsidiary under any applicable procedure pursuant to the
bankruptcy or insolvency (“concurso mercantil”) laws or any other similar laws as now or hereafter in effect; 
  
 (i) judgments or orders for the payment of money shall be rendered against the Borrower, any Guarantor or any Consolidated Subsidiary, in excess of
US$2,500,000.00 (Two Million Five Hundred Thousand Dollars 00/100), or its equivalent amount in Pesos, individually or in the aggregate, and such judgments or orders continue unsatisfied and unstayed for a period of 60 days in the aggregate;

  
 (j) any of the Borrower, the Guarantor or Material Subsidiary
fails to pay when due any amount that individually exceeds US$500,000.00 (Five Hundred Thousands Dollars 00/100), or its equivalent amount in Pesos, payable as quotas or other payments with respect to IMSS, INFONAVIT or SAR or a higher amount up to
US$1,000,000.00 (One Million Dollars 00/100), or its equivalent amount in Pesos, provided that the relevant Obligor has made the adequate reserves, in accordance with Mexican GAAP,; 
  

 35 

 Translation from Spanish 
  
 [SEAL] 
  

 (k) at any time any obligation of any Obligor under any Loan Document and or the Revolving Loan
Agreement for any reason ceases to be in full force and effect, or any Obligor so asserts in writing; 
  
 (l) any Lien created by the Pledge Agreement at any time fails to constitute a valid, perfected and first priority Lien on all of the Pledged Property or
securing the obligations purported to be secured thereby; 
  
 (m)
any Governmental Authority has condemned or otherwise expropriated all or any substantial part of the property or other assets of the Borrower, the Guarantors or any Material Subsidiary or of the Borrower’s, the Guarantors’ or Material
Subsidiaries’ shares representing the capital stock, or has assumed custody or control of any substantial part of the property or other assets or of the business or operations of any of the Borrower, the Guarantors or Material Subsidiaries or
any action that would prevent any of the Borrower, the Guarantors or Material Subsidiaries or any of their respective officers from carrying on its business or operations or a substantial part thereof; provided that if any of the foregoing occurs
with respect to any Pledged Subsidiary, then the occurrence of such event shall constitute an Event of Default, unless simultaneously with or prior to the occurrence of such event the Borrower has granted a pledge on the shares representing the
capital stock of a Replacement Subsidiary to the Administrative Agent under the Pledge Agreement; 
  
 (n) (i) the Permitted Holders (each, an “Investor”, and collectively, the “Investors”) fail to retain directly or
indirectly, collectively or individually, at least 51% of the outstanding voting shares of Grupo Cinemex (or the resulting entity after the merger of Grupo Cinemex with Symphony Subsisting Vehicle, S. de R.L. de C.V. or with any other affiliate
owner of shares issued by Grupo Cinemex, as permitted under this Agreement) or of the Borrower, and such failure continues for 90 days, unless (A) such failure results from a public offering of shares of Grupo Cinemex or the Borrower, (B) after such
public offering, any of the Investors or the Investors as a group, remain as holders of at least 30% of the outstanding shares of Grupo Cinemex or the Borrower, as the case may be, and (C) no other Person holds more than 20% of the outstanding
shares of Grupo Cinemex or the Borrower, as the case may be; or (ii) Grupo Cinemex (or the resulting entity after the merger of Grupo Cinemex with Symphony Subsisting Vehicle, S. de R.L. de C.V. or with any other affiliate owner of shares issued by
Grupo Cinemex, as permitted under this Agreement) and/or any of their Affiliates ceases to own, directly or indirectly, the voting shares of the Borrower it owns on the Effective Date, except as a result of a merger of the Borrower with or into
Grupo Cinemex permitted pursuant to this Agreement. 
  
 Then, and
in every such event, if requested by the Required Banks, the Administrative Agent shall notify the Borrower that the Loans (together with accrued interest thereon) are declared, and the Loans shall thereupon become, immediately due and payable
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; provided, that in the case of any of the Events of Default specified in Sections 6.01(g) or 6.0 l(h) above with respect to any
Obligor, and without any notice to the Borrower or any other act by the Administrative Agent or the Banks, all the Loans (together with accrued interest thereon) shall become immediately due and payable without presentment, demand, protest or other
notice of any kind, all of which are hereby waived by the Borrower and each Guarantor. 
  

 36 

 Translation from Spanish 
  
 [SEAL] 
  

 ARTICLE 7 
  
 AGENTS 
  
 SECTION 7.01. Authorization and Action. Each Bank hereby appoints and authorizes the Agents, to take such action as their agent and
to exercise such powers under this Agreement and the other Loan Documents as are delegated by the terms hereof and thereof, together with such powers as are reasonably incidental thereto; provided that no Agent shall have any duty or
obligation under any Loan Document to which it is not a party. As to any matters not expressly provided for by the Loan Documents (including, without limitation, enforcement or collection of the Promissory Notes), the Agents shall not be required to
exercise any action, but refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Banks, and such instructions shall be binding upon all Banks and all holders of Promissory
Notes; provided, however, that the Agents shall not be required to take any action which exposes them to personal liability or which is contrary to this Agreement or the applicable law. The Agents agree to give to each Bank prompt
notice of each notice or other reports given to them by the Obligors pursuant to the terms of this Agreement or any other Loan Document. 
  
 SECTION 7.02. Appointment of the Administrative Agent. Each of the Banks hereby authorizes and appoints as agent under the terms of
Articles 273 and 274 of the Mexican Commerce Code the Administrative Agent to execute, deliver and perform the Pledge Agreement, the Subsidiary Guaranty and any other Loan Document to which such Administrative Agent is a party, as well as any other
document, agreement or instrument necessary or convenient for the delivery, perfection, execution and foreclosure of the Collateral Documents and any other collateral or security granted in connection with this Agreement. In addition, the
Administrative Agent, is hereby authorized and instructed by the Banks and Agents to: 
  
 (a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy (concurso mercantil), reorganization, arrangement, adjustment, composition or other similar judicial proceeding relative to
the Obligors or the Pledged Property, the Administrative Agent, (irrespective of whether any of the obligations derived from this Agreement shall then be due and payable) shall be entitled and empowered (but not obligated), by its intervention in
such proceeding or otherwise, (a) to file and prove a claim for the whole amount of the obligations owing and unpaid in favour of the Banks and to file such other papers or documents as may be necessary or advisable in order to have the claims of
the Administrative Agent (including any claim for the reasonable compensation, disbursements and advances of the Administrative Agent, its agents and counsel) and of Banks and Agents allowed in such judicial proceeding and (b) to collect and receive
any moneys or other property payable or deliverable on any such claims and to distribute the same; 
  
 (b) All rights of action and claims under this Agreement may be prosecuted and enforced by the Administrative Agent, in its own name as Administrative
Agent; provided, however, that the Administrative Agent is also hereby appointed as agent for the Banks for this and the other purposes of this Agreement, and the Administrative Agent, may, if necessary under applicable laws, take such
action solely as agent for the Banks and the Agents. Any recovery by 

  

 37 

 Translation from Spanish 
  
 [SEAL] 
  

 
virtue of a judgment by the Administrative Agent, as the case may be, shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Administrative Agent, (including previously outstanding amounts in respect thereof), its agents and counsel, be for the benefit of the Banks. 
  
 SECTION 7.03. Administrative Agent’s Duties: (a) The powers conferred on the Administrative Agent hereunder and
under the Pledge Agreement are solely to protect the Banks’ interest in connection with the Pledged Property and shall not impose any duty upon it to exercise any such powers. 
  
 (b) Except for the safe custody of any Collateral in its possession and the accounting for moneys received by it hereunder
or under the Pledge Agreement or under the Collateral Documents, the Administrative Agent shall not have any duty as to any Pledged Property, or as to the taking of any necessary steps to preserve rights against any parties or any other rights
pertaining to any Pledged Property. The Administrative Agent shall be deemed to have exercised appropriate and due care in the custody and preservation of the Pledged Property in its possession if such Pledged Property is accorded treatment
substantially equal to that which it accords its own property. 
  
 (c) The Administrative Agent and the Banks hereby acknowledge and agree that Articles 279 and 303, of the Mexican Commerce Code shall not apply to the Administrative Agent. 
  
 (d) Subject to the receipt by the Administrative Agent, of security or indemnity reasonably satisfactory to it and subject
to the terms and conditions of this Agreement, the Required Banks, upon written notice thereof, shall have the right: 
  
 (i) to require the Administrative Agent, to enforce this Agreement in accordance with applicable laws, either by judicial proceedings to
demand payment of any and all obligations due to the Banks or the Agents pursuant to this Agreement and the enforcement of the security interests created under this Agreement and any other Loan Document, the sale of the Pledged Property or any part
thereof or otherwise; and 
  
 (ii) to direct the
time, method and place of conducting any proceeding for any remedy available to the Administrative Agent, as the case may be, or to exercise any power conferred upon the Administrative Agent, hereunder or under any other Loan Document to which it is
a party; provided that (i) such direction shall not be in conflict with applicable laws, this Agreement or any other Loan Document and (ii) the Administrative Agent, as the case may be, may take any other action incidental to carrying out any
direction received pursuant to this Article 7. 
  
 SECTION 7.04.
Acceptance of Pledged Properties. The Administrative Agent agrees to accept the Pledged Property to be received or held by it, pursuant to the terms of this Agreement or any other Loan Document. The Administrative Agent shall
hold and safeguard any Pledged Property delivered to it during the term of this Agreement or any other Loan Document, as specified herein or therein and shall hold such Pledged Property in accordance with the provisions of this Agreement or such
other Loan Document, as the case may be. 
  

 38 

 Translation from Spanish 
  
 [SEAL] 
  

 SECTION 7.05. Duties. The duties of the Agents shall be mechanical and
administrative in nature, and the Administrative Agent shall not have by reason of this Agreement or other Loan Document a fiduciary relationship in respect of any Bank. 
  
 SECTION 7.06. Agents and Affiliates. Banco Inbursa, S.A., Institución de Banca Múltiple, Grupo
Financiero Inbursa, and Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat shall have the same rights and powers under the Loan Documents as any other Bank and may exercise or refrain from
exercising the same as though they were not the Agents or an Affiliate of the Agents, and they and their Affiliates may accept deposits from, lend money to, and generally engage in any kind of business with the Borrower, any of its Consolidated
Subsidiaries or Affiliate of the Borrower, including Grupo Cinemex, as if they were not the Agents hereunder. 
  
 SECTION 7.07. Action by the Agents. The obligations of the Agents hereunder are only those expressly set forth herein. Without limiting the
generality of the foregoing, the Agents shall not be required to take any action with respect to any Default, except as expressly provided in Article 6. 
  
 SECTION 7.08. Consultation with Experts. The Agents may consult with legal counsel (who may be counsel for any Obligor), independent public
accountants and other experts selected by them and shall not be liable for any action taken or omitted to be taken by them in good faith in accordance with the advice of such counsel, accountants or experts. 
  
 SECTION 7.09. Agents Liability. Neither the Agents nor any of their
Affiliates or any of their respective directors, officers, agents, advisors or employees shall be liable for any action taken or not taken by them in connection herewith (i) with the consent or at the request of the Required Banks or (ii) in the
absence of their own gross negligence or wilful misconduct. Neither the Agents nor any of their Affiliates or any of their respective directors, officers, agents, advisors or employees shall be responsible for or have any duty to ascertain, inquire
into or verify (i) any statement, warranty or representation made in connection with the Loan Documents or any borrowing hereunder; (ii) the performance or observance of any of the covenants or agreements of any Obligor; (iii) the satisfaction of
any condition specified in Article 3; or (iv) the validity, effectiveness or genuineness of any Loan Document or any other written instrument or document furnished in connection herewith or therewith. The Agents shall not incur any liability by
acting in reliance upon any notice, consent, certificate, statement, or other written document (which may be a bank wire, telex, facsimile transmission or similar writing) believed by such Agents to be genuine or to be signed by the proper party or
parties. 
  
 SECTION 7.10. Indemnification. Each Bank
shall, ratably in accordance with the respective portion of the principal amount of the Loan then owing to them (or if the Loan is not outstanding, ratably according to the respective amount of their Commitments), indemnify the Agents, their
Affiliates and their respective directors, officers, agents and employees (collectively, the “Indemnified Parties”, and individually, an “Indemnified Party”) (to the extent not reimbursed by any Obligor) against any
and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against any Indemnified Party in any way
relating to or arising from the Loan Documents, or any action taken or omitted by each 

  

 39 

 Translation from Spanish 
  
 [SEAL] 
  

 
Agent under the Loan Documents, provided, that no Bank shall be liable for any portion of such liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements resulting from any Indemnified Party’s gross negligence or wilful misconduct. Without limitating the foregoing, each Bank agrees to reimburse the Agents promptly upon demand for their
ratable share of unpaid fees owing to the Agents and any out-of-pocket expenses (including counsel fees) incurred by each of such Agents and their Affiliates, in connection with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under any Loan Document, to the extent that the Agents are not paid such fees, or the Agents or any
such Affiliate is not reimbursed for such expenses, by the Borrower. 
  
 SECTION 7.11. Credit Decision. Each Bank acknowledges that it has, independently and without reliance upon the Agents or other Banks, and based on such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Bank also acknowledges that it will, independently and without reliance upon the Agents or other Banks, 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 any action under the Loan Documents. 
  
 SECTION 7.12. Successor Agents; Other Agents. The Agents may resign at any time by giving notice thereof to the Banks and the Borrower. Upon
any such resignation, the Required Banks shall have the right to appoint a successor to the Agents with the Borrower’s consent, which consent shall not be unreasonably withheld. If no successor to the Agents shall have been so appointed by the
Required Banks, and the successor has not accepted such appointment, within 30 days after the retiring Agent gives notice of resignation, then the retiring Agent may, on behalf of the Banks, appoint a successor, which shall be a commercial bank
organized or licensed under the laws of Mexico, and having a combined capital and surplus of at least MXP$l,000,000,000.00 (One Billion Pesos 00/100). Upon the acceptance of its appointment as Agent hereunder by a successor Agent, such successor
Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After any retiring Agent’s resignation hereunder, the
provisions of this Article shall inure to its benefit as to any actions taken or omitted to be taken by it while it was an Agent. 
  
 SECTION 7.13. Fees. The Borrower shall pay to the Agents for their own account fees in the amounts and at the times set forth in the Fee
Letters. 
  
 ARTICLE 8 
  
 CHANGE IN CIRCUMSTANCES 
  
 SECTION 8.01. Substitute Interest Rate. In the event, and to
the extent, that on the determination date of the Interest Rate or the Delinquent Interest Rate, the TIIE Rate is not published, may not be determined by any reason, whatsoever, or if such rate ceases to exist, the 

  

 40 

 Translation from Spanish 
  
 [SEAL] 
  

 
rate published by Banco de Mexico as a substitute rate for the TIIE Rate shall apply substitution of the TIIE Rate (the “Substitute Interest
Rate”), provided that when the inability to determine the applicable TIIE Rate is temporary, the Substitute Interest Rate shall only apply to the period or periods in which such TIIE Rate may not be determined. 
  
 If no rate is published by Banco de Mexico as a substitute rate for the TIIE
Rate, then the Substitute Interest Rate shall be the rate equivalent to: (A) in case of the Interest Rate, the sum of (i) the rate of the 28-day Treasury Bills (CETES), published the following day by Banco de Mexico in its official website (the
“CETE Rate”); plus (ii) 2 percentage points; plus (iii) the applicable Margin, and (B) in case of the Delinquent Interest Rate, the sum of (i) 150% of the CETE Rate plus 2 percentage points; plus (ii) the Margin. 
  
 In the event that Banco de Mexico, does not publish either a substitute rate
for the TIIE Rate or a CETE Rate, the Administrative Agent, shall agree, in good faith, in writing, with the Borrower, the applicable Substitute Interest Rate; provided however that: (i) from the date in which the TIIE Rate or the CETE Rate, as the
case may be, ceases to be published until the date in which the relevant substitute rate is published, the TIIE Rate is re-published or the parties agree on the applicable substitute interest rate, the Substitute Interest Rate shall be the interest
rate applicable to the immediate preceding Interest Period; (ii) if the TIIE Rate cases to be published for a period exceeding 30 days, and in such period Banco de Mexico does not publish a substitute interest rate or the CETE Rate, and the Borrower
and the Administrative Agent have not reached an agreement as to the applicable substitute interest rate, then the applicable interest rate shall be the highest market interest rate in effect, authorized to the Administrative Agent by Banco de
Mexico or the competent authority replacing Banco de Mexico, which shall be promptly notified to the Borrower by the Agent; and (iii) any interest rate determined pursuant to (i) and (ii) above, shall cease to apply when Banco de Mexico publishes
again the TIIE Rate, its substitute rate or the CETE Rate. 
  
 SECTION 8.02. Illegality. If, after the date of this Agreement, the adoption of any applicable law, rule or regulation, or any change in any applicable law, rule or regulation, or any change in the interpretation or
administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or
not having the force of law) of any such authority, central bank or comparable agency, shall make it unlawful or impossible for any Bank (or its Applicable Lending Office) to make, maintain or fund its Loans, each Bank shall use reasonable efforts
consistent with its internal policy and legal and regulatory restrictions and as long as such efforts would not be disadvantageous to it, as reasonably determined in its sole discretion, to designate a different Applicable Lending Office if the
making of such a designation would permit such Bank to maintain or fund its Loans. In case that the Bank’s efforts, as provided herein, do not permit it to make, maintain or fund its Loan and such requirement of law or such interpretation or
application thereof by a competent Governmental Authority shall so mandate, such Bank shall so notify the Agents describing in reasonable detail the relevant provisions of such requirement of law or such interpretation or application thereof by a
competent Governmental Authority, and such Loan shall be prepaid by the Borrower on or before the twentieth Business Day after the date of receipt by the Borrower of such notice, together with all accrued interest thereon and any amounts applicable
to such prepayment (unless actions taken pursuant to this paragraph shall make such 

  

 41 

 Translation from Spanish 
  
 [SEAL] 
  

 
prepayment unnecessary); provided, however, that if it is lawful for such Bank to maintain ____ Loan through the last day of the applicable Interest Period,
such payment shall be made on such date. Any payment under this Section 8.02 shall be applied in strict order of maturity to the following Scheduled Payment. 
  
 SECTION 8.03. Increased Cost and Reduced Return. (a) If, after the date hereof, the adoption of any applicable law, rule or regulation, or
any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or
compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency, shall: (i) impose, modify or deem applicable any reserve,
special deposit, insurance assessment or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Bank (or the Applicable Lending Office) or any other acquisition of funds by, the Applicable Lending
Office of such Bank, or (ii) impose on such Bank any other condition, and the result of any of the foregoing is to increase the cost to such Bank, by an amount which such Bank reasonably deems to be material, of making or maintaining its Loan or to
reduce any amount receivable under this Agreement or under its corresponding Promissory Note; then, in any such case, within 15 days after demand by such Bank (with a copy to the Administrative Agent), the Borrower or any Guarantor shall pay to such
Bank such additional amount or amounts to compensate such Bank for such increased cost or reduction. 
  
 (b) If after the date hereof, the adoption of any applicable law, rule or regulation or any change in any such law, rule or regulation, or any change in
the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or the compliance by any Bank or the Applicable Lending Office) of any request
or directive of any such authority, central bank or comparable agency (whether or not having the force of law), has or would have the effect of reducing the rate of return on capital of such Bank as a consequence of such Bank’s obligations
hereunder to a level below that which such Bank could have achieved but for such adoption, change, request or directive (taking into consideration its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then,
within 15 days after demand by such Bank (with a copy to the Administrative Agent), the Borrower or any Guarantor shall pay to such Bank such additional amounts to compensate such Bank for such reduction. 
  
 (c) Each Bank shall promptly notify the Borrower and the Administrative Agent
of any event of which it has knowledge, occurring after the date hereof, which entitles such Bank to compensation pursuant to this Section and shall designate a different Applicable Lending Office if such designation avoids the need for, or reduce
the amount of, such compensation and shall not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. In determining such amount, such Bank may use any reasonable averaging and attribution methods. 
  
 In any of the events set forth in paragraphs (a), (b) and (c) above, the
Borrower may prepay the Loan, in which case Section 2.05 and Section 2.08 herein shall not apply, provided that in case such prepayment is made after the legal provision becomes effective and/or any of the terms granted for its fulfillment, the
Borrower shall pay the additional amount to which this Section refers to, for the period comprised from the date in which the legal provision becomes 

  

 42 

 Translation from Spanish 
  
 [SEAL] 
  

 
effective and/or any of the terms granted for its fulfillment, until the corresponding payment is received. 
  
 SECTION 8.04. Taxes. (a) For the purposes of this
Section 8.04, the following terms shall have the following meanings: 
  
 “Taxes” means any and all present or future taxes, duties, levies, imposts, deductions, charges or withholdings with respect to any payment by the Obligors pursuant to this Agreement or under any other Loan Document, and
all liabilities with respect thereto (including interest, penalties and expenses), but excluding withholding tax retentions. 
  
 “Other Taxes” means any present or future taxes or similar charges or levies, which arise from any payment made pursuant to this
Agreement or under any other Loan Document or from the execution or delivery, registration or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, but excluding withholding tax retentions. 
  
 (b) The Borrower and Guarantors agree that any and all payments by any
Obligor to or for the account of any Bank or the Administrative Agent hereunder or under any other Loan Document is made without deduction of any Taxes or Other Taxes; provided, that if such Obligor shall be required by law to deduct any
Taxes or Other Taxes from any such payments, (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 8.04) such Bank or the
Administrative Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Obligor shall make such deductions, (iii) such Obligor shall pay the full amount deducted to the
relevant taxation authority or other authority in accordance with applicable law and (iv) such Obligor shall furnish to the Administrative Agent, at its address referred to in Section 9.01, the original or a certified copy thereof evidencing
payment, within 45 days of the payment. 
  
 (c) The Borrower
agrees to indemnify each Agent for the full amount of Taxes and Other Taxes (including, without limitation, any Taxes or Other Taxes imposed or asserted by any Mexican jurisdiction on amounts payable under this Section 8.04) paid by such Bank or
Agent (as the case may be) and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto. This indemnification shall be paid within 15 days after such Bank or Agent (as the case may be) makes demand
therefore. 
  
 (d) Without prejudice to the survival of any other
agreement of the Borrower hereunder, the agreements and obligations of the Borrower in this Section 8.04 shall survive the payment in full of principal and interest hereunder and under the Promissory Notes until the expiration of the statute of
limitations applicable to the payment of Taxes under this Section 8.04. 
  
 (e) No Bank shall be under the obligation to pass on to the Borrower any of the benefits that may accrue to it pursuant to this Section 8.04. 
  
 (f) This Section 8.04 does not include in any case, withholding taxes payable by the Banks on their taxable income. 
  

 43 

 Translation from Spanish 
  
 [SEAL] 
  

 ARTICLE 9 
  
 MISCELLANEOUS 
  
 SECTION 9.01. Notices. All notices, requests and other communications to any party hereunder shall be in writing (including bank
wire, facsimile transmission or similar writing) and shall be given to such party: (a) in the case of the Obligors and the Agents, at their address or facsimile number set forth on the signature pages hereof; (b) in case of any new Operating
Subsidiary that becomes a Guarantor, at the address or facsimile number set forth on the relevant Subsidiaries’ Agreement; (c) in the case of any Bank, at its address or facsimile number set forth on Schedule 1 hereto; or (d) in the case of any
party at such other address or facsimile number as such party may hereafter specify for the purpose by notice to the Administrative Agent and the Borrower. Each such notice, request or other communication shall be effective (i) if given by
facsimile, when transmitted to the facsimile number specified on Schedule 1 and confirmation of receipt is received or (ii) if given by any other means, when delivered at the address specified in Schedule 1; provided, that notices to the
Agents under Article 2, Article 6 or Article 8 shall not be effective until received. 
  
 SECTION 9.02. No Waiver. No failure or delay by the Agents or any Bank in exercising any right, power or privilege hereunder or under any Loan Documents shall operate as a waiver thereof nor shall
any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law. 
  
 SECTION 9.03. Borrower’s and
Guarantors’ Joint and Several Obligations. The Borrower’s and Guarantors’ obligations under this Agreement and all other Loan Documents are joint and several obligations of such parties as primary Obligors for all
obligations in full, including but not limited to, all payment obligations hereunder (regardless of any reference to a specific payor in respect of a given obligation). The Borrower and the Guarantors hereby irrevocably and unconditionally waive any
right they may now or hereafter have under any laws now or hereafter existing (i) to have the Banks and/or the Agents undertake collection against them in any particular order, (ii) to any diligence, presentment, protest, demand or judicial demand
for payment and notice of default or non-payment to or upon the Borrower and the Guarantors, and (iii) to any deferment, stay or release with regard to the obligations under this Agreement and all other Loan Documents by virtue of any deferment,
stay or release granted in connection therewith to any party hereto. 
  
 The Guarantors hereby represent and acknowledge that based on the business, corporate, legal and financial relations they maintain with the Borrower, it is in their best interest to enter into this Agreement as joint and several obligors of
the Borrower regarding all of the Borrower’s obligations hereunder and to subscribe as avales any Promissory Notes derived from this Agreement. 
  
 SECTION 9.04. Expenses; Indemnification. (a) The Borrower and/or Guarantors shall pay (i) all reasonable and documented out-of-pocket
expenses of the Agents, including reasonable and documented fees and disbursements of special counsel for the Agents, in connection with the preparation and administration of the Loan Documents, any waiver or 

  

 44 

 Translation from Spanish 
  
 [SEAL] 
  

 
consent thereunder all according with and subject to the amount limitations set forth in the Commitment Documents, or any amendment thereof or any Default or
alleged Default thereunder and (ii) if an Event of Default occurs, all reasonable and documented out-of-pocket expenses incurred by the Agents and each Bank including (without duplication) the reasonable and documented fees and disbursements of
outside counsel and the allocated cost of inside counsel, in connection with such Event of Default and collection, bankruptcy, insolvency procedure, (“concurso mercantil”) and other enforcement proceedings resulting therefrom.

  
 (b) The Borrower and/or Guarantors agree to indemnify the
Agents and each Bank, their respective Affiliates and the respective directors, officers, agents and employees of the foregoing (each an “Indemnitee”) and hold each Indemnitee harmless from and against any and all liabilities,
losses, damages, costs and expenses of any kind, including, without limitation, settlement costs and the reasonable and documented fees and disbursements of counsel, which may be incurred by such Indemnitee in connection with any investigative,
administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) brought or threatened, relating to or arising from the Loan Documents, the syndication activities of the Indemnitees or any actual or proposed
use of proceeds of Loans hereunder; provided, that no Indemnitee shall have the right to be indemnified hereunder for such Indemnitee’s own gross negligence or wilful misconduct as determined by a court of competent jurisdiction.

  
 SECTION 9.05. Sharing of Set-offs. Each
Bank agrees that if it shall, by exercising any right of set-off or counterclaim or otherwise, receive payment of a proportion of the outstanding amount of principal and interest then due with respect to the portion of its Loan which is greater than
the proportion received by any other Bank in respect of the aggregate amount of principal and interest then due with respect to the portion of the Loans held by such other Bank, the Bank receiving such proportionately greater payment shall purchase
such participations in the portion of the Loan held by the other Banks, and such other adjustments shall be made, as may be required so that all such payments of principal and interest with respect to the portion of the Loan held by the Banks shall
be shared by the Banks pro rata; provided, that nothing in this Section shall impair the right of any Bank to exercise any right of set-off or counterclaim it may have and to apply the amount subject to such exercise to the payment of
indebtedness of the Borrower and/or Guarantors other than its indebtedness in respect of the Loan. The Borrower and Guarantors agree, to the fullest extent they may effectively do so under applicable law, that any Bank or holder of a participation
in the Loan, whether or not acquired pursuant to the foregoing arrangements, may exercise rights of set-off or counterclaim and other rights with respect to its Loan or participation, as fully as if such Bank or holder of a Loan or participation
were a direct creditor of the Borrower and/or Guarantors in the amount of such participation. 
  
 SECTION 9.06. Amendments and Waivers; Release of Pledged Properties. Any provision of this Agreement or the Promissory Notes may be amended or waived if, but only if, such amendment or waiver is
made in writing and is signed by the Borrower, the Guarantors, and the Required Banks (and, if the rights or duties of the Agents are affected thereby, by the Agents); provided, that no such amendment or waiver shall, unless signed by all the
Banks, (i) increase or decrease the Commitment of any Bank (except for a ratable decrease in the Commitments of all Banks) or subject any Bank to any additional obligation, (ii) reduce the principal of or rate of interest on the Loan, or any fees
hereunder, (iii) postpone the Expiration 

  

 45 

 Translation from Spanish 
  
 [SEAL] 
  

 
Date or the date fixed for any payment of principal of or interest on the Loan or any fees hereunder, or for any reduction or termination of any Commitment,
or (iv) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Loan, or the number of Banks, which shall be required for the Banks or any of them, to take any action under this Section or any other provision of
this Agreement. Any provision of the Collateral Documents may be amended or waived if, but only if, such amendment or waiver is made in writing and is signed by the relevant Obligor, the Administrative Agent and the Syndication Agent with the
Required Banks’ consent; provided, that, except as otherwise provided in the Pledge Agreement (pursuant to which no consent of the Required Banks shall be required), no such amendment or waiver shall, unless signed by all the Banks,
effect or permit a release of all or substantially all Pledged Property or release any Guarantor from its obligations under the Subsidiaries’ Agreement; provided, further, that no such amendment or waiver shall, unless signed by
the Required Banks, waive the occurrence of the Event of Default set forth in Section 6.01(n) hereof or amend Section 6.01(n) hereof. 
  
 SECTION 9.07. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, it being understood that neither the Borrower nor the Guarantors may assign or otherwise transfer any of their rights under this Agreement without the prior written consent of all Banks.

  
 (b) Any Bank may at any time grant to one or more Banks or
other institutions (each a “Participant”) participating interests in its Commitment or any or all of its Loans; provided, that the relevant participation does not imply additional costs to the Borrower. If a Bank grants any
such participating interest to a Participant, whether or not upon notice to the Borrower and the Administrative Agent, such Bank shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Agents shall
continue to deal solely and directly with such Bank in connection with such Bank’s rights and obligations under this Agreement. Any agreement pursuant to which any Bank grants such a participating interest shall provide that such Bank shall
retain the sole right and responsibility to enforce the obligations of the Borrower hereunder including, without limitation, the right to approve any amendment, modification or waiver of any provision of this Agreement; provided, that such
participation agreement may provide that such Bank shall not agree to any modification, amendment or waiver of this Agreement relating to changes in any fees hereunder, or the principal of or term of or rate of interest on any Loan, without the
Participant’s prior consent. The Borrower agrees that each Participant shall, to the extent provided in its participation agreement, be entitled to the benefits of Article 8 with respect to its participating interest. An assignment or other
transfer which is not permitted by Section 9.07(c) or (d) below shall be given effect for purposes of this Agreement only to the extent of a participating interest granted in accordance with this Section 9.07(b). 
  
 (c) Any Bank may at any time assign to one or more banks or other
institutions (each an “Assignee”) (provided, that the relevant assignment does not imply additional costs to the Borrower) all, or a proportionate part (such portion to comprise an aggregate outstanding amount not less than
the equivalent amount of MXP$10,000,000.00 (Ten Million Pesos 00/100), and shall be an integral multiple of the equivalent amount of MXP$5,000,000.00 (Five Million Pesos 00/100), in excess thereof) of its rights and obligations under this Agreement
and the other Loan Documents including the Promissory Notes, and such Assignee shall assume such rights and 

  

 46 

 Translation from Spanish 
  
 [SEAL] 
  

 
obligations, pursuant to an Assignment and Assumption Agreement executed by such Assignee and such transferor Bank, in such case, upon the consummation of
any assignment pursuant to this Section 9.07(c), the transferor Bank, the Administrative Agent, the Syndication Agent and the Borrower shall make appropriate arrangements so that, promptly upon such Assignee’s request and subject to exchange of
the relevant assignor’s Promissory Note, a new Promissory Note be issued to the Assignee with an appropriately adjusted principal amount, and dated the effective date of the applicable assignment (together with a “por aval”
guarantee executed and delivered by the Guarantors), in each instance evidencing such Bank’s Loans, in substantially the form of Exhibit C. Provided, however, that (i) if an Assignee is an Affiliate of such transferor Bank or
was a Bank immediately prior to such assignment or (ii) such assignment is mandatory by operation of law, no such consent signed by the Borrower shall be required. Upon execution and delivery of such instrument and payment by such Assignee to such
transferor Bank of an amount equal to the purchase price agreed between such transferor Bank and such Assignee, such Assignee shall be a Bank party to this Agreement and shall have all the rights and obligations of a Bank, to the extent that rights
and obligations hereunder have been assigned to it, and the transferor Bank shall be released from its obligations hereunder to a corresponding extent, and no further consent or action by any party shall be required. In connection with any such
assignment, the transferor Bank shall pay to the Administrative Agent an administrative fee for processing such assignment. 
  
 (d) Notwithstanding Section (c) above, any Bank may at any time assign all or any portion of its rights under this Agreement and its Promissory Note
without Borrower’s approval or consent but prior written notice to the Borrower at least 5 Business Days prior to such assignment, in case that a Default occurs and is continuing, provided that: (i) such assignment is made to another financial
institution that is willing to represent, and represents, to the assignor, to the Bank and to the Borrower, that in respect of the relevant assignment it is not acting on behalf of any company or entity, directly or indirectly 30% (thirty per cent)
or more of the revenues of which are derived from the motion picture exhibition business, or mandated by such entity to purchase the Loan, and (ii) that no additional costs to the Borrower shall result from such assignment. In such case, the
Borrower shall, at the Administrative Agent’s request, execute and deliver to any bank that becomes a Bank by assignment after the Effective Date, promptly upon such Assignee’s request and subject to exchange of the relevant
assignor’s Promissory Note for a new Promissory Note with an appropriately adjusted principal amount, a single Promissory Note dated the effective date of the applicable Assignment and Assumption Agreement (together with a “por
aval” guarantee executed and delivered by the Guarantors), in each case evidencing the Loans of such Bank, in substantially the form of Exhibit C. 
  
 (e) No Assignee, Participant or other transferee of any Bank’s rights shall be entitled to receive any greater payment under Section 8.03 or 8.04
than such Bank would have been entitled to receive with respect to the rights transferred, unless such transfer is an assignment made with the Borrower’s prior written consent. 
  
 SECTION 9.08. [Intentionally Omitted]. 
  
 SECTION 9.09. Governing Law; Jurisdiction. (a) This Agreement and each Promissory Note shall be
governed by and construed in accordance with the laws of Mexico. 
  

 47 

 Translation from Spanish 
  
 [SEAL] 
  

 (b) Each of the parties hereto irrevocably submits to the jurisdiction of the competent courts of
Mexico City, for purposes of all legal proceedings arising out of or relating to the Loan Documents. Each party hereto irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the
venue of any such suit, action or proceeding brought in any such court and any claim that any such proceeding brought in such court has been brought in an inconvenient forum. 
  
 SECTION 9.10. Counterparts; Integration; Effectiveness. This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire agreement and understanding among the parties hereto and supersedes
any and all prior agreements and understandings, oral or written, relating to the subject matter hereof. This Agreement shall become effective upon receipt by the Administrative Agent of counterparts hereof signed by each of the parties hereto (or,
in the case of any party as to which an executed counterpart shall not have been received, receipt by the Administrative Agent in form satisfactory to them of telegraphic, telex, facsimile or other written confirmation from such party of execution
of a counterpart hereof by such party). 
  
 SECTION 9.11.
[Intentionally Omitted] 
  
 SECTION 9.12. Waiver of
Immunity. To the extent that any of the Obligors has or hereafter may be entitled to claim or may acquire, any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior
to judgment, attachment in aid of execution, or otherwise) with respect to itself or its property, the Obligors hereby irrevocably waive such immunity in respect of their obligations hereunder and under other Loan Documents to the extent permitted
by applicable law and, without limiting the generality of the foregoing, agree that the waivers set forth in this Section shall be effective to the fullest extent now or hereafter permitted. 
  
 SECTION 9.13. Language. The Loan Documents shall be
delivered and executed in Spanish language. 
  
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 
  

 48 

 Translation from Spanish 
  
 [SEAL] 
  

 IN WITNESS WHEREOF, the parties hereto execute this Agreement through ___ respective authorized officers as of the day and year first above written. 
  
 Cadena Mexicana de Exhibitión, S.A. de C.V. 
  

			
	 By:
	  	 Miguel Ángel Dávila Guzmán

	 Title:
	  	 Attorney-in Fact

	 Address:
	  	 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16

	 	  	 Col. Lomas de Chapultepec

	 	  	 11000 México, D.F.

	 Attention:
	  	 Miguel Ángel Dávila Guzmán

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

		
	 By:
	  	 Luis Gabriel Hernández Artigas

	 Title:
	  	 Attorney-in Fact

	 Address:
	  	 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16

	 	  	 Col. Lomas de Chapultepec

	 	  	 11000 México, D.F.

	 Attention:
	  	 Luis Gabriel Hernández Artigas

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

  

 49 

 Translation from Spanish 
  
 [SEAL] 
  

 Cinemex Altavista, S.A. de C.V.; Cinemex Polanco, S.A. de C.V.; Cinemex Santa Fe, S.A. de C.V.; Cinemex Loreto, S.A.
de C.V.; Cinemex Los Reyes, S.A. de C.V.; Cinemex Masary__ S.A. de C.V., Cinemex Manacar, S.A. de C.V.; Cinemex Perinorte, S.A. de C.V.; Cinemex ______ S.A. de C.V.; Cinemex Galerías, S.A. de C.V.; Cinemex Ecatepec, S.A. de C.V.; Cinemex
__________ Mateo, S.A. de C.V.; Arrendadora Inmobiliaria Cinematográfica, S.A. de C.V.; Cinemex Universidad, S.A. de C.V.; Cinemex Coapa, S.A. de C.V.; Cinemex Cuicuilco, S.A. de C.V.; Cinemex Palacio Chino, S.A. de C.V., Cinemex Real, S.A.
de C.V., Cinemex Ticomán, S.A. de C.V.; Cinemex Mundo E, S.A. de C.V.; Cinemex Legaria, S.A. de C.V; Cinemex WTC, S.A. de C.V.; Cinemex Diana, S.A. de C.V.; Cinemex Palomas, S.A. de C.V.; Cinemex Plaza Sur, S.A. de C.V.; Cinemex Zaragoza,
S.A. de C.V.; Cinemex Plaza Insurgentes, S.A. de C.V.; Cinemex Iztapalapa, S.A. de C.V.; Cinemex Cuahutémoc, S.A. de C.V.; Cinemex Toluca II, S.A. de C.V.; Cinemex Coacalco, S.A. de C.V.; Cinemex Misterios, S.A. de C.V.; Cinemex San Antonio,
S.A. de C.V. y Cinemex Aragón, S.A. de C.V. 
  

			
	 By:
 Title:
 Address:
	  	 Miguel Ángel Dávila Guzmán
 Attorney-in Fact
 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16
 Col. Lomas de Chapultepec
 11000 México, D.F.

	 Attention:
	  	 Miguel Ángel Dávila Guzmán

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

		
	 By:
	  	 Adolfo Fastlicht Kurián

	 Title:
	  	 Attorney-in Fact

	 Address:
	  	 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16

	 	  	 Col. Lomas de Chapultepec

	 	  	 11000 México, D.F.

	 Attention:
	  	 Adolfo Fastlicht Kurián

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

  

 50 

 Translation from Spanish 
  
 [SEAL] 
  

 Grupo Cinemex, S.A. de C.V. 
  

			
	 By:
	  	 Miguel Ángel Dávila Guzmán

	 Title:
	  	 Attorney-in Fact

	 Address:
	  	 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16

	 	  	 Col. Lomas de Chapultepec

	 	  	 11000 México, D.F.

	 Attention:
	  	 Miguel Ángel Dávila Guzmán

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

		
	 By:
	  	 Luis Gabriel Hernández Artigas

	 Title:
	  	 Attorney-in Fact

	 Address:
	  	 Boulevard Manuel Ávila Camacho

	 	  	 No. 40, piso 16

	 	  	 Col. Lomas de Chapultepec

	 	  	 11000 México, D.F.

	 Attention:
	  	 Luis Gabriel Hernández Artigas

	 Facsimile:
	  	 5201 5813

	 Telephone:
	  	 5201 5800

  

 51 

 Translation from Spanish 
  
 [SEAL] 
  

 Banco Inbursa, S.A., Institutión de Banca Múltiple, Grupo Financiero Inbursa as Administrative Agent,
Documentation Agent, Collateral Agent, Bookrunner and Lead Arranger 
  

			
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 Attorney-in Fact

  
 Scotiabank Inverlat, S.A.,
Institutión de Banca Multiple, Grupo Financiero Scotiabank Inverlat, as Syndication Agent. 
  

			
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 Attorney-in Fact

	 Address:
	 	 Boulevard Manuel Ávila Camacho
 No. 1, 11560 México, D.F

	 Attention:
	 	 
	 Facsimile:
	 	 5229 2337

	 Telephone:
	 	 5229 2053

	
	 Banco Nacional de México, S.A.,

	 Integrante del Grupo Financiero Banamex

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 Attorney-in Fact

	 Address:
	 	Acturario Roberto Medellin No. 800, Cuarto Piso Sur
	 	 	 01210 Mexico D.F.

  
 The undersigned, Maria Catalina
Quintanilla Ramos, expert translator, appointed as expert translator by the Superior Court of Justice of the Federal District, do hereby certify that the within and foregoing is a true translation of the document in Spanish. Mexico City, Mexico,
September 21st., 2004. 
  

[SEAL] 
  

 52

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]