Document:

vfcexhibitf6e

                                                     EXECUTION VERSION                                                          FIVE-YEAR REVOLVING CREDIT AGREEMENT                                 dated as of                             December 17, 2018,                                   among                            V.F. CORPORATION,                         VF INVESTMENTS S.À R.L.,                         VF ENTERPRISES S.À R.L.,                            VF EUROPE B.V.B.A.                                    and                         VF INTERNATIONAL SAGL,                                as Borrowers                    the other BORROWING SUBSIDIARIES,                          the LENDERS Party Hereto                                    and                       JPMORGAN CHASE BANK, N.A.,                            as Administrative Agent                                 _________                                  ______                       JPMORGAN CHASE BANK, N.A.,        MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,                           BARCLAYS BANK PLC,                        HSBC SECURITIES (USA) INC.,                     U.S. BANK NATIONAL ASSOCIATION                                    and                      WELLS FARGO SECURITIES, LLC,                   as Joint-Lead Arrangers and Joint Bookrunners                                                               BANK OF AMERICA, N.A.,                           BARCLAYS BANK PLC,                 HSBC BANK USA, NATIONAL ASSOCIATION,                    U.S. BANK NATIONAL ASSOCIATION                                    and                         WELLS FARGO BANK, N.A.,                           as Co-Syndication Agents                                    and                                                                   CITIBANK N.A.,                     ING BANK N.V., DUBLIN BRANCH,                    PNC BANK, NATIONAL ASSOCIATION                                    and                              TD BANK, N.A.,                                                                                 [[3883081]]  

 

                           as Co-Documentation Agents                                                                                                                                                                                                                   [CS&M No.  06702-022]                                                                               [[3883081]]  

 

                                                                                                   TABLE OF CONTENTS                                                                       Page                                  ARTICLE I                                                                   Definitions and Terms   SECTION 1.01.  Definitions ..............................................................................................2  SECTION 1.02.  Classification of Loans and Borrowings ..............................................32  SECTION 1.03.  Rules of Interpretation ..........................................................................32  SECTION 1.04.  Currency Translation ............................................................................34  SECTION 1.05.  Change of Currency ..............................................................................34  SECTION 1.06.  Interest Rates; LIBOR Notification ......................................................35                                 ARTICLE II                                                                      The Credits   SECTION 2.01.  Commitments ........................................................................................35  SECTION 2.02.  Loans and Borrowings ..........................................................................36  SECTION 2.03.  Requests for Borrowings ......................................................................37  SECTION 2.04.  Swing Line Loans .................................................................................38  SECTION 2.05.  Letters of Credit ....................................................................................41  SECTION 2.06.  Funding of Borrowings .........................................................................49  SECTION 2.07.  Interest Elections ..................................................................................50  SECTION 2.08.  Termination, Reduction and Increase of Commitments;                  Redesignation of Commitments ........................................................51  SECTION 2.09.  Repayment of Loans; Evidence of Debt ...............................................54  SECTION 2.10.  Prepayment of Loans ............................................................................55  SECTION 2.11.  Fees .......................................................................................................56  SECTION 2.12.  Interest ..................................................................................................57  SECTION 2.13.  Payments Generally; Pro Rata Treatment; Sharing of Set-offs ............58  SECTION 2.14.  Borrowing Subsidiaries ........................................................................60  SECTION 2.15.  Defaulting Lenders ...............................................................................62  SECTION 2.16.  Extension Offers ...................................................................................64  SECTION 2.17.  Use of Proceeds ....................................................................................66                                 ARTICLE III                                                                 Change in Circumstances   SECTION 3.01.  Increased Cost and Reduced Return .....................................................66  SECTION 3.02.  Limitation on Types of Loans ..............................................................68  SECTION 3.03.  Illegality ................................................................................................70  SECTION 3.04.  Compensation .......................................................................................70  SECTION 3.05.  Taxes .....................................................................................................71                                      i  [[3883081]]  

 

                                                                          SECTION 3.06.  Designation and Change of Lending Offices .......................................73  SECTION 3.07.  Substitution of Lenders .........................................................................74                                 ARTICLE IV                                                    Conditions to Making Loans and Issuing Letters of Credit   SECTION 4.01.  Conditions of Closing ...........................................................................74  SECTION 4.02.  Conditions of Revolving Loans, Letters of Credit and Swing Line                  Loans .................................................................................................76  SECTION 4.03.  Initial Revolving Loans, Letters of Credit and Swing Line Loans                  of each New Borrowing Subsidiary ..................................................77                                 ARTICLE V                                                              Representations and Warranties   SECTION 5.01.  Corporate Existence and Power ............................................................77  SECTION 5.02.  Corporate and Governmental Authorization; No Contravention .........78  SECTION 5.03.  Binding Effect .......................................................................................78  SECTION 5.04.  Financial Information ...........................................................................78  SECTION 5.05.  Litigation ..............................................................................................78  SECTION 5.06.  Compliance with ERISA ......................................................................78  SECTION 5.07.  Environmental Matters .........................................................................79  SECTION 5.08.  Taxes .....................................................................................................79  SECTION 5.09.  Margin Stock ........................................................................................79  SECTION 5.10.  Investment Company ............................................................................79  SECTION 5.11.  Full Disclosure ......................................................................................79  SECTION 5.12.  No Consents, Etc ..................................................................................80  SECTION 5.13.  Anti-Corruption Laws and Sanctions ...................................................80                                 ARTICLE VI                                                                 Affirmative Covenants   SECTION 6.01.  Financial Reports, Etc ...........................................................................81  SECTION 6.02.  Payment of Taxes .................................................................................84  SECTION 6.03.  Maintenance of Properties; Insurance ..................................................84  SECTION 6.04.  Compliance with Laws .........................................................................84  SECTION 6.05.  Books and Records ...............................................................................84  SECTION 6.06.  Existence ...............................................................................................85                                 ARTICLE VII                                                                  Negative Covenants   SECTION 7.01.  Consolidated Indebtedness to Consolidated Capitalization ..................85  SECTION 7.02.  Liens .....................................................................................................85                                      ii  [[3883081]]  

 

                                                                          SECTION 7.03.  Indebtedness of Subsidiaries ................................................................86  SECTION 7.04.  Consolidations, Mergers and Sales of Assets .......................................87  SECTION 7.05.  Use of Proceeds ....................................................................................87                                ARTICLE VIII                                                             Events of Default and Acceleration   SECTION 8.01.  Events of Default ..................................................................................87  SECTION 8.02.  Administrative Agent to Act .................................................................90  SECTION 8.03.  Cumulative Rights ................................................................................91  SECTION 8.04.  No Waiver .............................................................................................91  SECTION 8.05.  Allocation of Proceeds..........................................................................91                                 ARTICLE IX                                                                 The Administrative Agent   SECTION 9.01.  Appointment and Authority ..................................................................92  SECTION 9.02.  Rights as Lenders ..................................................................................92  SECTION 9.03.  Exculpatory Provisions .........................................................................92  SECTION 9.04.  Reliance by Administrative Agent .......................................................93  SECTION 9.05.  Delegation of Duties .............................................................................94  SECTION 9.06.  Resignation of Administrative Agent ...................................................94  SECTION 9.07.  Non-Reliance on Agents and Other Lenders ........................................95  SECTION 9.08.  No Other Duties, Etc ............................................................................95  SECTION 9.09.  Administrative Agent May File Proofs of Claim .................................95  SECTION 9.10.  Certain ERISA Matters .........................................................................96                                 ARTICLE X                                                                       Guarantee   SECTION 10.01.  Guarantee ............................................................................................97  SECTION 10.02.  No Subrogation ...................................................................................98  SECTION 10.03.  Amendments, etc. with respect to the Obligations .............................98  SECTION 10.04.  Guarantee Absolute and Unconditional ..............................................99  SECTION 10.05.  Reinstatement ...................................................................................100  SECTION 10.06.  Payments ...........................................................................................100  SECTION 10.07.  Independent Obligations ...................................................................100                                 ARTICLE XI                                                                      Miscellaneous   SECTION 11.01.  Assignments and Participations ........................................................100  SECTION 11.02.  Notices; Effectiveness; Electronic Communication .........................103  SECTION 11.03.  Right of Set-off; Adjustments ...........................................................107                                      iii  [[3883081]]  

 

                                                                          SECTION 11.04.  Survival .............................................................................................107  SECTION 11.05.  Expenses ...........................................................................................108  SECTION 11.06.  Amendments and Waivers ................................................................108  SECTION 11.07.  Counterparts; Electronic Execution ..................................................110  SECTION 11.08.  Termination ......................................................................................110  SECTION 11.09.  Indemnification; Limitation of Liability ...........................................111  SECTION 11.10.  Severability .......................................................................................112  SECTION 11.11.  Integration .........................................................................................112  SECTION 11.12.  Governing Law; Waiver of Jury Trial ..............................................113  SECTION 11.13.  Confidentiality ..................................................................................115  SECTION 11.14.  “Know Your Customer” Checks; Certain Notices ...........................115  SECTION 11.15.  Conversion of Currencies .................................................................116  SECTION 11.16.  Interest Rate Limitation ....................................................................117  SECTION 11.17.  No Fiduciary Relationship ................................................................117  SECTION 11.18.  Company as Agent of Borrowing Subsidiaries ................................117  SECTION 11.19.  Acknowledgement and Consent to Bail-In of EEA Financial                  Institutions .......................................................................................118  SECTION 11.19.  Waiver of Notice Period in Connection with Termination of                  Existing Credit Agreement ..............................................................120                                               iv  [[3883081]]  

 

                                                                          Schedules:    Schedule 2.01   Commitments  Schedule 2.04   Swing Line Commitments  Schedule 2.05A  Existing Letters of Credit  Schedule 2.05B  L/C Commitments      Exhibits:    Exhibit A      Form of Assignment and Assumption  Exhibit B     Form of Borrowing Notice   Exhibit C-1    Form of Borrowing Subsidiary Agreement  Exhibit C-2    Form of Borrowing Subsidiary Termination  Exhibit D     Form of Interest Election Request  Exhibit E     Form of L/C Issuer Agreement  Exhibit F     Form of Accession Agreement  Exhibit G      Form of Compliance Certificate                                           v  [[3883081]]  

 

                       FIVE-YEAR REVOLVING CREDIT AGREEMENT, dated as of               December  17,  2018,  among  V.F.  CORPORATION,  a  Pennsylvania               corporation  (the  “Company”);  VF  INVESTMENTS  S.À  R.L.,  a               Luxembourg company incorporated under the laws of the Grand Duchy of               Luxembourg  as  a  “société à responsabilité limitée”,  with  its  registered               office at 43, Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of               Luxembourg and registered with the Luxembourg Register of Commerce               and Companies (the “RCS”) under number B79.198  (“VF Investments”);               VF ENTERPRISES S.À R.L., a Luxembourg company incorporated under               the laws of the Grand Duchy of Luxembourg as a “société à responsabilité               limitée”,  with  its  registered  office  at  43,  Avenue  J.F.  Kennedy,  L-1855               Luxembourg, Grand Duchy of Luxembourg and registered with the RCS               under  number  B145.047  (“VF  Enterprises”);  VF  EUROPE  B.V.B.A.,  a               Belgian company incorporated under the laws of Belgium as a “besloten               vennootschap met beperkte aansprakelijkheid/société à responsabilité               limitée”,  with  its  registered  office  at  Fountain  Business  Park,  C.  Van               Kerckhovenstraat 110, B-2880 Bornem, Belgium, and registered with the               Crossroads  Bank  for  Enterprises  under  enterprise  number  0405.039.138               (RPR   Antwerp,   division  Mechelen)  (“VF   Europe”);  VF               INTERNATIONAL  SAGL,  a  limited  liability  company  (società a               garanzia limitata)  incorporated  under  the  laws  of  Switzerland,  with  its               registered  office  at  Via  Laveggio  5,  6855  Stabio,  Switzerland  and               registered with the commercial register under number CHE-111.650.898               (“VF  International”);  the  BORROWING  SUBSIDIARIES  from  time  to               time  party  hereto;  each  LENDER  from  time  to  time  party  hereto; and              JPMORGAN CHASE BANK, N.A., as Administrative Agent.                                 WITNESSETH:               WHEREAS the Borrowers have requested that the Lenders make available   to the Borrowers  multi-currency revolving credit facilities of up to US$2,250,000,000   (which may be increased to US$3,000,000,000), the proceeds of which are to be used for   general  corporate  purposes,  including,  without  limitation,  acquisitions,  repurchases  of   outstanding shares of the Company’s common stock and other lawful corporate purposes,   a  letter  of  credit  facility  of  up  to  US$50,000,000,  and  a  swing  line  facility  of  up  to   US$100,000,000; and                WHEREAS  the  Lenders  are  willing to  make  such  revolving  credit   facilities available to the Borrowers upon the terms and conditions set forth herein.                NOW, THEREFORE, the Borrowers, the Lenders, the L/C Issuers and the  Administrative Agent hereby agree as follows:                                                                                [[3883081]]  

 

                                                                      2                                  ARTICLE I                                                                   Definitions and Terms               SECTION 1.01.  Definitions.   For  the  purposes  of  this  Agreement,  in  addition to the definitions set forth above, the following terms shall have the respective  meanings set forth below:               “ABR”,  when  used  in  reference  to  any  Loan  or  Borrowing,  refers to  whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a  rate determined by reference to the Alternate Base Rate.               “Accession Agreement” has the meaning specified in Section 2.08(d).               “Adjusted LIBO Rate” means, with respect to any LIBOR Borrowing in  US  Dollars  for  any  Interest  Period,  an  interest  rate  per  annum (rounded  upwards,  if  necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period  multiplied by (b) the Statutory Reserve Rate.               “Administrative  Agent”  means  JPMCB,  in  its  capacity  as  administrative  agent for the Lenders hereunder, or any successor appointed in accordance with Section  9.06.   Unless  the  context  requires  otherwise,  the  term  “Administrative  Agent”  shall  include  any  Affiliate  of  JPMCB  through  which  JPMCB  shall  perform  any  of  its  obligations in such capacity hereunder.               “Administrative Questionnaire” means an Administrative Questionnaire in  a form supplied by the Administrative Agent.               “Affiliate” means, as to any Person, any other Person directly or indirectly  controlling, controlled by, or under direct or indirect common control with, such Person.   A Person shall be deemed to be “controlled by” any other Person if such other Person  possesses, directly or indirectly, power to direct or cause the direction of the management  and policies of such Person whether by contract or otherwise.               “Aggregate  Global  Tranche  Revolving  Credit  Exposure”  means,  at any  time,  the  sum  of  the  Global  Tranche  Revolving  Credit  Exposures of  all  the  Global  Tranche  Lenders  at  such  time;  provided,  that  for  purposes  of  this  definition,  in  determining the Global Tranche Revolving Credit Exposure of any Swing Line Lender,  the Global Tranche Swing Line Exposure of such Swing Line Lender shall be deemed to  equal  its  Global  Tranche  Percentage  of  the  aggregate  amount  of the  US  Dollar  Equivalents of the Global Tranche Swing Line Loans outstanding at such time.               “Aggregate Revolving Credit Exposure” means, at any time, the sum  of  the Aggregate Global Tranche Revolving Credit Exposure and the Aggregate US Tranche  Revolving Credit Exposure at such time.               “Aggregate US Tranche Revolving Credit Exposure” means, at any time,  the sum of the US Tranche Revolving Credit Exposures of all the US Tranche Lenders at                                                                                                [[3883081]]  

 

                                                                      3   such time; provided, that for purposes of this definition, in determining the US Tranche  Revolving  Credit  Exposure  of  any  Swing  Line  Lender,  the  US  Tranche  Swing  Line  Exposure of such Swing Line Lender shall be deemed to equal its US Tranche Percentage  of  the  aggregate  amount  of  the  US  Dollar  Equivalents  of  the  US Tranche  Swing  Line  Loans outstanding at such time.               “Agreement”  means  this  Five-Year  Revolving  Credit  Agreement,  as  the  same may hereafter be amended, supplemented or otherwise modified from time to time.               “Alternate Base Rate” means, for any day, a rate per annum equal to the  greatest  of  (a) the  Prime  Rate  in  effect  on  such  day,  (b) the  NYFRB  Rate  in  effect  on  such day plus 1⁄2 of 1.00% per annum and (c) the Adjusted LIBO Rate on such day (or if  such day is not a Business Day, the immediately preceding Business Day) for a deposit in  US Dollars with a maturity of one month plus 1.00% per annum.  For purposes of clause  (c)  above,  the  Adjusted  LIBO  Rate  on  any  day  shall  be  based  on the  Screen  Rate  at  approximately 11:00 a.m., London time, on such day for deposits in US Dollars with a  maturity of one month (or, in the event the Screen Rate for deposits in US Dollars is not  available for such maturity of one month, shall be based on the Interpolated Screen Rate  as of such time).  If the Alternate Base Rate is being used as an alternate rate of interest  pursuant to Section 3.02, then the Alternate Base Rate shall be the greater of clause (a)  and (b) above and shall be determined without reference to clause (c) above; provided  that the Alternate Base Rate shall not be less than 1%.  Any change in the Alternate Base  Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate  shall be effective from and including the effective date of such change in the Prime Rate,  the NYFRB Rate or the Adjusted LIBO Rate, as the case may be.               “Alternative  Currency”  means  Canadian  Dollars,  Euro,  Sterling, Swiss  Francs, Yen and any other currency (other than US Dollars) (a) that is freely transferable  and convertible into US Dollars in the London interbank market, (b) in which dealings in  deposits are carried on in and in respect of which quotations are available in the London  interbank market and (c) that has been approved at the request of the Company by the  Administrative Agent, each Lender and each L/C Issuer as an Alternative Currency.               “Alternative  Currency  Overnight  Rate”  means,  with  respect  to  any  Alternative Currency (other than Euro), a rate per annum equal to the London interbank  offered rate as administered by the ICE Benchmark Administration (or any other Person  that takes over the administration of such rate) for overnight deposits in such Alternative  Currency  as  displayed  on  the  applicable  Reuters  screen  page  (currently  LIBOR01  or  LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on  the appropriate page of such other information service that publishes such rate as shall be  selected by the Administrative Agent from time to time in its reasonable discretion, in  consultation with the Company) at approximately 11:00 a.m., London time, on such day;  provided that if such rate shall be less than zero, such rate shall be deemed to be zero for  all purposes of this Agreement.                                                                                                  [[3883081]]  

 

                                                                       4                “Anti-Corruption  Laws”  means  all  laws,  rules,  and  regulations  of  any   jurisdiction  applicable  to  the  Borrowers  or  any  of  their  Subsidiaries  from  time  to  time   concerning or relating to bribery or corruption.                “Applicable Lending Office” means, as to any Lender, the office or offices   described as such in such Lender’s Administrative Questionnaire, or such other office of   such Lender (or an Affiliate of such Lender) as such Lender may  from  time  to  time   specify to the Administrative Agent and the Company by written notice in accordance   with the terms hereof as the office by which its Loans of each Class and Type are to be   made and maintained.                “Applicable  Rate”  means,  for  any  day  with  respect  to  any  ABR  Loan   (including any Swing Line Loan that is an ABR Loan), LIBOR Loan, EURIBOR Loan,   CDOR  Loan,  Euro  Overnight  Rate  Loan  or  the  Facility  Fee,  as  the  case  may  be,  the   applicable rate per annum set forth under the appropriate caption in the table below, in   each case based upon the ratings by S&P and Moody’s applicable on such  date  to  the   Index Debt:                                LIBOR / EURIBOR /                 Ratings S&P /   CDOR/Euro      Category    Moody’s     Overnight Rate Loans ABR Loans Facility Fee Rate        1         AA- / Aa3       0.580%          0.000%       0.045%        2         A+ / A1         0.695%          0.000%       0.055%        3          A / A2         0.810%          0.000%       0.065%        4          A- / A3        0.910%          0.000%       0.090%        5       ≤ BBB+ / Baa1     1.015%          0.000%       0.110%    For  purposes  of  the  foregoing,  (i) if  either  S&P  or  Moody’s  shall  not  have  in  effect  a   rating for the Index Debt (other than by reason of the circumstances referred to in the last   sentence of this definition), then such rating agency shall be deemed to have established a   rating in Category 5, (ii) if the ratings established or deemed to have been established by  Moody’s  and  S&P  for  the  Index  Debt  shall  fall  within  different Categories,  the   Applicable Rate shall be the applicable rate per annum corresponding to the higher (or   numerically lower) of such Categories unless one of the ratings is two or more Categories   lower than the other, in which case the Applicable Rate shall be determined by reference   to the Category next below that corresponding to the higher of the two ratings and (iii) if   the ratings established or deemed to have been established by S&P and Moody’s for the   Index Debt shall be changed (other than as a result of a change in the rating system of   S&P  or  Moody’s),  such  change  shall  be  effective  as  of  the  date on  which  it  is  first   announced by  the applicable rating  agency.   Each  change in  the Applicable  Rate  shall   apply during the period commencing on the effective date of such change and ending on   the date immediately preceding the effective date of the next such change.  If the rating   system of S&P or Moody’s shall change, or if either such rating agency shall cease to be   in the business of rating corporate debt obligations, the Company and the Lenders shall   negotiate in good faith to amend this definition to reflect such changed rating system or   the  unavailability  of  ratings  from  such  rating  agency  and,  pending the effectiveness  of   any such amendment, the Applicable Rate shall be determined by reference to the ratings   most recently in effect prior to such change or cessation.                                                                                 [[3883081]]  

 

                                                                      5               “Approved  Fund”  means  any  Fund  that  is  administered  or  managed by  (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that  administers or manages a Lender.               “Arrangers”  means  JPMorgan  Chase  Bank,  N.A.,  Merrill  Lynch,  Pierce,  Fenner  &  Smith  Incorporated  (or any  other  registered  broker-dealer  wholly-owned  by  Bank  of  America  Corporation  to  which  all  or  substantially  all  of  Bank  of  America  Corporation’s or any of its subsidiaries’ investment banking, commercial lending services  or related businesses may be transferred following the date of this Agreement), Barclays  Bank  PLC,  HSBC  Securities  (USA)  Inc.,  U.S.  Bank  National  Association  and  Wells  Fargo Securities, LLC, in their capacities as joint lead arrangers and joint bookrunners of  the revolving credit facilities provided for herein.                “Assignment and Assumption” means an Assignment and Assumption in  the  form  of  Exhibit  A  hereto  (with  blanks  appropriately  filled in)  delivered  to  the  Administrative Agent in connection with an assignment of a Lender’s interest under this  Agreement pursuant to Section 11.01.               “Authorized  Representative”  means any  of  the  Chairman  of  the  Board,  President, Vice President-Treasurer, or any other Vice President of the Company, or any  other Person expressly designated by the written authorization of any of the foregoing as  an Authorized Representative.               “Availability  Period”  means  the  period  from  and  including  the  Closing  Date to but excluding the Termination Date.               “Bail-In Action” means the exercise of any Write-Down and Conversion  Powers by the applicable EEA Resolution Authority in respect of any liability of such  EEA Financial Institution.                “Bail-In  Legislation”  means,  with  respect  to  any  EEA  Member  Country  implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the  Council of the European Union, the implementing law for such EEA Member Country  from time to time which is described in the EU Bail-In Legislation Schedule.               “Bankruptcy Event” means, with respect to any Person, that such Person  has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver,  conservator,  trustee,  administrator,  custodian,  assignee  for  the  benefit  of  creditors  or  similar Person charged with the reorganization or liquidation of its business appointed for  it; provided that a Bankruptcy Event shall not result solely by virtue of (a) any ownership  interest, or the acquisition of any ownership interest, in such Person by a Governmental  Authority; provided that such ownership interest does not result in or provide such Person  with  immunity  from  the  jurisdiction  of  courts  within  the  United  States  or  from  the  enforcement of judgments or writs of attachment on its assets or permit such Person (or  such Governmental Authority) to reject, repudiate, disavow or disaffirm any agreements  made by such Person, or (b) any Undisclosed Administration.                                                                                                 [[3883081]]  

 

                                                                       6                “Beneficial  Ownership  Certification”  means  a  certification  regarding   beneficial ownership or control as required by the Beneficial Ownership Regulation.                “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.                “Benefit Arrangement” means at any time an employee benefit plan within   the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and   which is maintained or otherwise contributed to by any member of the ERISA Group.                “Benefit  Plan”  means  (a) an  “employee  benefit  plan”  (as  defined in   ERISA)  that  is  subject  to  Title  I  of  ERISA,  (b) a  “plan”  as  defined  in  and  subject  to   Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA   Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code)   the assets of any such “employee benefit plan” or “plan”.                “Board” means the Board of Governors of the Federal Reserve System (or   any successor body).                “Borrowers” means the Company and each of the Borrowing Subsidiaries.                “Borrowing”  means  (a) Loans  of  the  same  Class,  Type  and  currency   made, converted or continued on the same date and to the same Borrower and, in the case   of LIBOR, EURIBOR or CDOR Loans, as to which a single Interest Period is in effect or  (b) a Swing Line Loan.               “Borrowing Minimum” means (a) in the case of a Borrowing denominated   in  US  Dollars,  US$5,000,000,  (b)  in  the  case  of  a  Borrowing  denominated  in  Euros,   €5,000,000, (c) in the case of a Borrowing denominated in Yen, ¥500,000,000, (d) in the   case of a Borrowing denominated in Sterling, £5,000,000, (e) in the case of a Borrowing  denominated in Swiss Francs, CHF5,000,000, (f) in the case of a Borrowing denominated  in Canadian Dollars, CAD$5,000,000 and (g) in the case of a Borrowing denominated in  any other Alternative Currency, the smallest amount of such Alternative Currency that is  an  integral  multiple  of  1,000,000  units  of  such  currency  and  that has a US Dollar  Equivalent of US$5,000,000 or more.               “Borrowing Multiple” means (a) in the case of a Borrowing denominated   in  US  Dollars,  US$1,000,000,  (b)  in  the  case  of  a  Borrowing  denominated  in  Euros,   €1,000,000, (c) in the case of a Borrowing denominated in Yen, ¥100,000,000, (d) in the   case of a Borrowing denominated in Sterling, £1,000,000, (e) in the case of a Borrowing  denominated in Swiss Francs, CHF1,000,000, (f) in the case of a Borrowing denominated  in Canadian Dollars, CAD$1,000,000 and (g) in the case of a Borrowing denominated in  any other Alternative Currency, 1,000,000 units of such currency.                “Borrowing  Notice”  means  the  notice  delivered  by  an  Authorized   Representative  in  connection  with  a  Borrowing  of  Revolving  Loans  or  a  Swing  Line   Loan, in the form of Exhibit B hereto.                                                                                  [[3883081]]  

 

                                                                      7               “Borrowing  Subsidiary”  means  VF  Investments,  VF  Enterprises,  VF  Europe, VF International and, at any time, each other Subsidiary that has been designated  as a Borrowing Subsidiary by the Company pursuant to Section 2.14, in each case, for so  long  as  such  Person  has  not  ceased  to  be  a  Borrowing  Subsidiary  as  provided  in  such  Section as of such time.               “Borrowing  Subsidiary  Agreement”  means  a  Borrowing  Subsidiary  Agreement substantially in the form of Exhibit C-1.               “Borrowing  Subsidiary  Termination”  means  a  Borrowing  Subsidiary  Termination substantially in the form of Exhibit C-2.               “Business Day” means any day that is not a Saturday, Sunday or other day  on  which  commercial  banks  in  New York  City  are  authorized  or  required  by  law  to  remain  closed;  provided  that  (a) when  used  in  connection  with  a  LIBOR  Loan  in  any  currency,  a  EURIBOR  Loan  or  a  Swing  Line  Loan  denominated  in  Euro,  the  term  “Business Day” shall also exclude any day on which banks are not open for dealings in  deposits in such currency in the London interbank market, (b) when used in connection  with a EURIBOR Loan, the term “Business Day” shall also exclude any day that is not a  TARGET  Operating  Day,  (c)  when  used in connection with a CDOR Loan,  the  term  “Business Day” shall also exclude any day on which banks are not open for dealings in  deposits  of  Canadian  Dollars  in  the  Toronto  interbank  market  and  any  day  on  which  banks are not open for dealings in deposits in Canadian Dollars in the London interbank  market and, (d) when used in connection with a Loan to any Borrower organized in a  jurisdiction other than the United States of America or England, the term “Business Day”  shall also exclude any day on which commercial banks in the jurisdiction of organization  of such Borrower are authorized or required by law to remain closed, and (e) when used  in connection with a Swing Line Loan denominated in Euro, the term “Business Day”  shall include any day that would be a Business Day under the foregoing provisions of this  definition  but  for  the  fact  that  commercial  banks  in  New  York  City are authorized or  required by law to remain closed on such day.               “Canadian Dollars” or “CAD$” means the lawful currency of Canada.               “Capital  Leases”  means  all  leases  which  have  been  capitalized  in  accordance with GAAP as in effect, subject to Section 1.03(a), from time to time.              “CDOR”,  when  used  in  reference  to  any  Loan  or  Borrowing,  refers to  whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a  rate determined by reference to the CDO Rate.               “CDO  Rate”  means,  with  respect  to  any  CDOR  Loan  for  any  Interest  Period, the applicable Screen Rate (rounded if necessary to the nearest 1/100 of 1% (with  0.005% being rounded up)) as of the Specified Time on the Quotation Day.                                                                                                  [[3883081]]  

 

                                                                       8                “Change of Control” means, at any time:                (a) any person or group of persons (within the meaning of Section 13 or 14         of  the  Exchange  Act),  other  than  the  Trust,  shall  have  acquired  beneficial         ownership (within the meaning of Rule 13d-3 of the Exchange Act ) of 35% or         more of the outstanding shares of Voting Securities of the Company; or                (b) as of any date a majority of the Board of Directors of the Company         consists of individuals who were not either (i) directors of the Company as of the         corresponding  date  of  the  previous  year,  (ii)  selected  or  nominated  to  become         directors by the Board of Directors of the Company of which a majority consisted         of  individuals  described  in  clause  (i),  or  (iii)  selected  or  nominated  to  become         directors by the Board of Directors of the Company of which a majority consisted         of individuals described in clauses (i) and (ii).                “Change in Law” means the occurrence, after the date of this Agreement,   of  any  of  the  following:  (a)  the  adoption  or  taking  effect  of  any  applicable  law,  rule,   regulation or treaty, (b) any change in any applicable law, rule, regulation or treaty or in   the  interpretation  or  administration  thereof  by  any  Governmental  Authority  or  (c)  the   making or issuance of any request or directive (whether or not having the force of law) of   any  Governmental  Authority;  provided  that,  notwithstanding  anything  herein  to  the   contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all   requests, rules, guidelines or directives thereunder or issued in connection therewith and  (ii) all requests, rules, guidelines or directives promulgated by the Bank for International  Settlements, the Basel Committee on Banking Supervision (or any successor or similar  authority) or the United States or foreign regulatory authorities, in each case pursuant to   Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date   enacted, adopted, promulgated or issued.                “Claims” has the meaning specified in Section 2.13(c).                “Class”, when used in reference to (a) any Loan or Borrowing, refers to   whether  such  Loan,  or  the  Loans  comprising  such  Borrowing,  are Global  Tranche   Revolving Loans, US Tranche Revolving Loans, Global Tranche Swing Line Loans or   US Tranche Swing Line Loans, (b) any Letter of Credit or L/C Disbursement, refers to   whether such Letter of Credit or L/C Disbursement is a US Tranche Letter of Credit or   US Tranche L/C Disbursement or a Global Tranche Letter of Credit or Global Tranche   L/C  Disbursement,  (c) any  Commitment,  refers  to  whether  such  Commitment  is  a  US   Tranche  Commitment  or  a  Global  Tranche  Commitment,  (d)  any  Revolving  Credit   Exposure,  L/C  Exposure  or  Swing  Line  Exposure,  refers  to  whether  such  Revolving   Credit Exposure, L/C Exposure or Swing Line Exposure is a Global Tranche Revolving   Credit Exposure, Global Tranche L/C Exposure or Global Tranche Swing Line Exposure   or a US Tranche Revolving Credit Exposure, US Tranche L/C Exposure or US Tranche   Swing  Line  Exposure  and  (e)  any  Lenders,  refers  to  whether  such Lenders are Global   Tranche Lenders or US Tranche Lenders.                                                                                  [[3883081]]  

 

                                                                      9               “Closing Date” means the date as of which this Agreement is executed by  the  parties  hereto  and  on  which the  conditions  set  forth  in  Section  4.01  have  been  satisfied or waived.               “Code” means the Internal Revenue Code of 1986, as amended from time  to time, and any regulations promulgated thereunder.               “Commitments”  means  the  Global  Tranche  Commitments  and  the  US  Tranche  Commitments.   The  aggregate  amount  of  the  Commitments  as  of  the  Closing  Date is US$2,250,000,000.               “Communications”  means,  collectively,  any  notice,  demand,  communication, information, document or other material provided by or on behalf of any  Borrower pursuant to any Loan Document or the transactions contemplated therein that is  distributed  by  the  Administrative  Agent,  any  Lender  or  any  L/C Issuer  by  means  of  electronic  communications  in  accordance  with  this  Agreement,  including  through  the  Platform.               “Company” has the meaning specified in the preamble hereto.                “Company Materials” has the meaning specified in Section 6.01.                “Consolidated Capitalization” means, as of any date on which the amount  thereof is to be determined, the sum of Consolidated Indebtedness plus Consolidated Net  Worth.               “Consolidated Indebtedness” means, as of any date on which the amount  thereof is to be determined, all Funded Indebtedness of the Company and its Subsidiaries,  determined on a consolidated basis in accordance with GAAP.               “Consolidated  Net  Worth”  means,  as  of  any  date  on  which  the  amount  thereof is to be determined, the consolidated stockholders’ equity of the Company and its  Subsidiaries, determined on a consolidated basis in accordance with GAAP.               “Debtor Relief Laws” means the Bankruptcy Code of the United States,  and  all  other  liquidation,  conservatorship,  bankruptcy,  assignment  for  the  benefit  of  creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar  debtor relief laws of the United States or other applicable jurisdictions from time to time  in effect and affecting the rights of creditors generally.               “Declining Lender” has the meaning specified in Section 2.16(a).               “Default” means any event or condition which, with the giving or receipt  of notice or lapse of time or both, unless cured or waived, would constitute an Event of  Default hereunder.               “Defaulting  Lender”  means  any  Lender  that  (a)  has  failed,  within  two  Business Days of the date required to be funded or paid, (i) to fund any portion of its                                                                                                 [[3883081]]  

 

                                                                      10    Loans,  (ii) to  fund  any  portion  of  its  participations  in  Letters  of  Credit  or  Swing  Line  Loans or (iii) to pay to the Administrative Agent, any L/C Issuer or any Lender any other  amount required to be paid by it hereunder, unless, in the case of clause (i) above, such  Lender notifies the Administrative Agent in writing that such failure is the result of such  Lender’s  good  faith  determination  that  a  condition  precedent  to  funding  (specifically  identified in such writing, including, if applicable, by reference to a specific Default or  Event  of  Default)  has  not  been  satisfied,  (b) has  notified  the Company  or  the  Administrative Agent in writing, or has made a public statement to the effect, that it does  not intend or expect to comply with any of its funding obligations under this Agreement  (unless  such  writing  or  public  statement  indicates  that  such  position  is  based  on  such  Lender’s  good  faith  determination that  a  condition  precedent  (specifically  identified  in  such  writing,  including,  if  applicable,  by  reference  to  a  specific  Default  or  Event  of  Default) to funding a Loan cannot be satisfied), (c) has failed, within three Business Days  after request by the Administrative Agent, made in good faith, to provide a certification  in  writing  from  an  authorized  officer  of  such  Lender  that  it  will  comply  with  its  obligations  to  fund  prospective  Loans  and  participations  in  then  outstanding  Letters  of  Credit and Swing Line Loans; provided that such Lender shall cease to be a Defaulting   Lender pursuant to this clause (c) upon the receipt by the Administrative Agent of such   certification in form and substance reasonably satisfactory to it, or (d) has become, or has   a Lender Parent that has become, the subject of a Bankruptcy Event or a Bail-In Action.                “Dividing Person” has the meaning assigned to such term in the definition   of “Division”.                “Division” means the division of the assets, liabilities and/or obligations   of  a  Borrowing  Subsidiary  whose  jurisdiction  of  organization  is the state of Delaware   (the  “Dividing  Person”)  among  two  or  more  Persons  (whether  pursuant  to  a  “plan  of   division” or similar arrangement), which may or may not include the Dividing Person and   pursuant to which the Dividing Person may or may not survive.               “Division Successor” means any Person that, upon the consummation of a   Division  of  a  Dividing  Person,  holds  all  or  any  portion  of  the assets,  liabilities  and/or   obligations  previously  held  by  such  Dividing  Person  immediately prior to the   consummation  of  such  Division.   A  Dividing  Person  that  retains any  of  its  assets,   liabilities and/or obligations after a Division shall be deemed a Division Successor upon   the occurrence of such Division.                “Domestic  Subsidiary”  means  a  Subsidiary  that  is  incorporated  or   organized  in  the  United States  of  America  or  any  state  or  other  political  subdivision,   territory or possession thereof.               “EEA Financial Institution” means (a) any credit institution or investment   firm established in any EEA Member Country which is subject to the supervision of an   EEA Resolution Authority, (b) any entity established in an EEA Member Country which   is a parent of an institution described in clause (a) of this definition, or (c) any financial   institution established in an EEA Member Country which is a subsidiary of an institution                                                                                 [[3883081]]  

 

                                                                      11    described in clause (a) or (b) of this definition and is subject to consolidated supervision   with its parent.                 “EEA Member Country” means any member state of the European Union,   Iceland, Liechtenstein and Norway.                 “EEA Resolution Authority” means any public administrative authority or   any person entrusted with public administrative authority of any EEA Member Country   (including  any  delegee)  having responsibility  for  the  resolution of any EEA Financial   Institution.                “Electronic  Signature”  means  an  electronic  signature,  sound,  symbol  or   process attached to, or associated with, a contract or other record and adopted by a Person   with the intent to sign, authenticate or accept such contract or record.                “Eligible Assignee” means (a) a Lender and (b) any other Person (other   than a natural person) approved by (i) the Administrative Agent (which approval shall be   subject to the last sentence of Section 11.01(b) and shall not be unreasonably withheld or   delayed)  and  (ii)  unless  an  Event  of  Default  under  Section 8.01(a),  8.01(b),  8.01(g)  or   8.01(h)  has  occurred  and  is  continuing,  the  Company  (such  approval  not  to  be   unreasonably  withheld  or  delayed);  provided  that,  notwithstanding  the  foregoing,   “Eligible  Assignee”  shall  not  include  the  Company  or  any  of  its  Subsidiaries  or  other  Affiliates.               “EMU Legislation” means (a) the Treaty on European Union (the Treaty   of  Rome  of  March  25,  1957,  as  amended  by  the  Single  European  Act  1986,  the   Maastricht  Treaty  of  1992  and  the  Amsterdam  Treaty  of  1998),  and  (b)  legislative   measures  of  the  European  Council  (including  without  limitation European  Council   regulations) for the introduction of, changeover to or operation of the Euro, in each case   as amended or supplemented from time to time.                “Environmental Laws” means any federal, state, local or foreign statute,   law,  ordinance,  code,  rule,  regulation,  order,  decree,  permit  or  license  by  any   Governmental  Authority  regulating,  relating  to,  or  imposing  liability  or  standards  of   conduct concerning, any environmental matters or conditions or environmental protection   or  conservation,  including  without  limitation,  the  Comprehensive  Environmental   Response,  Compensation,  and  Liability  Act  of  1980,  as  amended; the  Superfund   Amendments and Reauthorization Act of 1986, as amended; the Resource Conservation   and Recovery Act, as amended; the Toxic Substances Control Act, as amended; the Clean   Air  Act,  as  amended;  the  Clean  Water  Act,  as  amended;  together with  all  regulations   promulgated thereunder, and any other “Superfund” or “Superlien” law.                “ERISA” means the Employee Retirement Income Security Act of 1974,   as  amended  from  time  to  time,  and  any  successor  statute  and  all  rules  and  regulations   promulgated thereunder.                “ERISA Group” means the Company, any Subsidiary and all members of   a  controlled  group  of  corporations  and  all  trades  or  businesses  (whether  or  not                                                                                [[3883081]]  

 

                                                                     12   incorporated)  under  common  control  which,  together  with  the  Company  or  any  Subsidiary, are treated as a single employer under Section 414 of the Code.               “EU  Bail-In  Legislation  Schedule”  means  the  EU  Bail-In  Legislation  Schedule  published  by  the  Loan  Market  Association  (or  any  successor  person),  as  in  effect from time to time.                “EURIBO  Rate”  means,  with  respect  to  any  EURIBOR  Loan  for  any  Interest  Period,  the  applicable  Screen  Rate  as  of  the  Specified  Time  on  the  Quotation  Day.               “EURIBOR”, when used in reference to any Loan or Borrowing, refers to  whether such Loan, or the Loans comprising such Borrowing, shall bear interest at a rate  determined by reference to the EURIBO Rate.               “Euro”  or  “€”  means  the  lawful  currency  of  the  Participating  Member  States introduced in accordance with the EMU Legislation.                “Euro  Overnight  Rate”  means  a  rate  per  annum  equal  to  the  London  interbank  offered  rate  as  administered  by  the  ICE  Benchmark  Administration  (or  any  other  Person  that  takes  over  the  administration  of  such  rate)  for  overnight  deposits  in  Euros  as  displayed  on  the  applicable  Reuters  screen  page  (currently  LIBOR01  or  LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on  the appropriate page of such other information service that publishes such rate as shall be  selected by the Administrative Agent from time to time in its reasonable discretion, in  consultation with the Company) at approximately 11:00 a.m., London time, on such day;  provided that if such rate shall be less than zero, such rate shall be deemed to be zero for  all purposes of this Agreement.               “Euro Overnight Rate Loan” means a Swing Line Loan that bears interest  at a rate determined by reference to the Euro Overnight Rate.                “Eurocurrency Rate Loan” means a LIBOR Loan or a EURIBOR Loan.               “Events of Default” has the meaning set forth in Section 8.01.               “Exchange Act” means the Securities Exchange Act of 1934, as amended,  and the regulations promulgated thereunder.               “Exchange Rate” means, on any day, for purposes of determining the US  Dollar Equivalent of any currency other than US Dollars, the rate at which such other  currency may be exchanged into US Dollars at the time of determination on such day as  last  provided  (either  by  publication  or  as  may  otherwise  be  provided  to  the  Administrative Agent) by the applicable Reuters source on the Business Day (determined  based on New York City time) immediately preceding such day of determination.  In the  event that Reuters ceases to provide such rate of exchange or such rate does not appear on  the  applicable  Reuters  source,  the  Exchange  Rate  shall  be  determined  by  reference  to  such other publicly available service for displaying such rate of exchange at such time as                                                                                                [[3883081]]  

 

                                                                     13   shall  be  selected  by  the  Administrative  Agent  from  time  to  time  in  its  reasonable  discretion, in consultation with the Company. Notwithstanding the foregoing provisions  of  this  definition,  each  L/C  Issuer  may,  solely  for  purposes  of  computing  the  L/C  Fronting Fees owed to it under Section 2.11(b), compute the US Dollar Equivalent of the  L/C Exposures attributable to Letters of Credit issued by it by reference to exchange rates  determined using any reasonable method customarily employed by it for such purpose.                “Excluded Taxes” means any of the following Taxes imposed on or with  respect to any Lender or the Administrative Agent or required to be withheld or deducted  from a payment to any Lender or the Administrative Agent: (a) Taxes imposed on its net  income (however denominated), and franchise or similar Taxes (including branch profit  Taxes) imposed on it, in each case (1) by the jurisdiction under the laws of which such  Lender or the Administrative Agent is organized or in which its principal office (or in the  case of a Lender, its Applicable Lending Office) is located or any political subdivision  thereof and (2) by reason of any present or former connection between such Lender or the  Administrative  Agent  and  the  jurisdiction  imposing  such  Taxes, other  than  solely  as  a  result of this Agreement or any other Loan Document or any transaction contemplated  hereby, (b) in the case of a Lender, any U.S. federal withholding Tax imposed on such  payment,  but  not  excluding  (1)  any  portion  of  such  Tax  that  exceeds  the  U.S.  federal  withholding Tax that would have been imposed on such a payment to such Lender under  the  laws  in  effect  on  the  date  on  which  such  Lender  first  becomes a party to this  Agreement  or  the  date  on  which  such  Lender  changed  its  lending office  and  (2)  any  portion  of  such  Tax  that  does  not  exceed  the  amount  payable  to the  assignor  of  such  Lender immediately before such Lender became a party to this Agreement or changed its  lending  office,  (c)  any  U.S.  federal  withholding  Tax  imposed  under  FATCA  and  (d)  Taxes attributable to such Lender’s failure to comply with Section 3.05(e).               “Existing  Credit  Agreement”  means  the  Five-Year  Revolving  Credit  Agreement  dated  as  of  April  14,  2015,  among  the  Company,  VF  Investments,  VF  Enterprises, VF Europe, VF International, the lenders party thereto and JPMorgan Chase  Bank, N.A., as Administrative Agent, as amended.               “Existing  Letter  of  Credit”  means  each  letter  of  credit  identified  on  Schedule 2.05A.               “Existing Stated Termination Date” has the meaning specified in Section  2.16(c).               “Extending Lender” has the meaning specified in Section 2.16(a).               “Extension  Agreement”  means  an  Extension  Agreement,  in  form  and  substance reasonably satisfactory to the Administrative Agent, among the Company, the  Administrative  Agent  and  one  or more  Extending  Lenders,  effecting  an  Extension  Permitted  Amendment  and  such  other  amendments  hereto  and  to  the other Loan  Documents as are contemplated by Section 2.16.               “Extension Offer” has the meaning set forth in Section 2.16(a).                                                                                                 [[3883081]]  

 

                                                                      14                “Extension  Permitted  Amendment”  means  an  amendment  to  this   Agreement  and  the  other  Loan  Documents  effected  in  connection  with  an  Extension   Offer  pursuant  to  Section 2.16,  providing  for  a  one  year  extension  of  the  Stated   Termination  Date  applicable  to  the  Loans  and/or  Commitments  of the  applicable   Extension Request Class (such Loans or Commitments being referred to as the “Extended   Loans” or “Extended Commitments”, as applicable), so long as after giving effect to such   extension,  the  Stated  Termination  Date  as  to  the  Extended  Loans  or  Extended   Commitments  shall  not  be  more  than  five  years  after  the  date  of  effectiveness  of  the   applicable Extension Permitted Amendment, and, in connection therewith, if the parties  to such amendment shall so agree, (a) a change in the rate of interest accruing on such  Extended Loans, (b) a change in the fees payable to, or the inclusion of new fees to be  payable to, the Extending Lenders in respect of such Extension Offer or their Extended  Loans  or  Extended  Commitments,  (c)  an  addition  of  any  affirmative  or  negative  covenants  applicable  to  the  Company  and  its  Subsidiaries;  provided  that  any  such   additional  covenant  with  which  the  Company  and  its  Subsidiaries  shall  be  required  to  comply for the benefit of the Extending Lenders shall also be for the benefit of all other  Lenders, and/or (d) any other amendment to this Agreement or the other Loan Documents  to the extent such amendment would otherwise be permitted pursuant to, and is adopted  in accordance with the consent requirements of, Section 11.06 and such amendment and  the related Extension Agreement comply with Section 2.16(b).               “Extension Request Class” has the meaning set forth in Section 2.16(a).                “FATCA” means Sections 1471 through 1474 of the Code, as of the date   of this Agreement (or any amended or successor version that is substantively comparable   and  not  materially  more  onerous  to  comply  with),  any  current  or  future  regulations  or   official interpretations thereof, any agreement entered into pursuant to Section 1471(b)(1)   of  the  Code  and  any  intergovernmental  agreements  between  the  United  States  and   another country that modify the provisions of the foregoing or law or regulation in any   jurisdiction implementing such intergovernmental agreement.                “Facility Fee” has the meaning specified in Section 2.11(a).                “Facility Termination Date” means the date on which all of the following   shall have occurred: (a) all of the Commitments shall have expired or shall have been   terminated and the principal of and interest on each Loan and all fees payable hereunder   shall have been paid in full and all Letters of Credit shall have expired or shall have been   terminated, except for such issued and undrawn Letters of Credit that, with the consent of   the applicable L/C Issuer, have been fully cash collateralized in a manner consistent with   that  set  forth  in  clause  (ii)  of  Section  8.01  or  otherwise  backstopped  in  a  manner   satisfactory  to  the  applicable  L/C  Issuer,  and  all  L/C  Disbursements  shall  have  been   reimbursed  and  (b)  the  Borrowers  shall  have  fully,  finally  and irrevocably  paid  and   satisfied  in  full  all  Obligations  (other  than  Obligations  consisting  of  continuing   indemnities and other contingent Obligations of the Borrowers that may be owing to the   Administrative  Agent,  the  Lenders,  the  L/C  Issuers  or  any  of  the  other  Indemnified  Parties  pursuant  to  the  Loan  Documents  and  expressly  survive  termination  of  this  Agreement).                                                                                 [[3883081]]  

 

                                                                      15                “Federal Funds Effective Rate” means, for any day, the rate calculated by   the NYFRB based on such day’s federal funds transactions by depository institutions (as   determined in such manner as the NYFRB shall set forth on its public website from time   to time) and published on the next succeeding Business Day by the NYFRB as the federal   funds effective rate; provided that if such rate shall be less than zero, such rate shall be   deemed to be zero for all purposes of this Agreement.                 “Foreign Borrowing Subsidiary” means any Borrowing Subsidiary that is   not a Domestic Subsidiary.                “Foreign Lender” means any Lender that is not a US Person.                “Foreign  Subsidiary”  means  any  Subsidiary  other  than  a  Domestic   Subsidiary.                “Fund” means any Person (other than a natural person) that is (or will be)   engaged in making, purchasing, holding or otherwise investing in commercial loans and   similar extensions of credit in the ordinary course of its business.                “Funded  Indebtedness”  means  with  respect  to  any  Person,  without   duplication, (a) all indebtedness in respect of borrowed money, (b) all obligations under   Capital Leases, (c) the deferred purchase price of any property or services that are in the   nature of money borrowed, and (d) indebtedness evidenced by a promissory note, bond,   debenture  or  similar  written  obligation  for  the  payment  of  money  (including  non- contingent, past-due obligations under reimbursement agreements and conditional sales  or similar title retention agreements), other than (i) trade payables and accrued expenses  incurred in the ordinary course of business, and (ii) indebtedness secured by cash deposits  subject to a legal right of set-off and not classified as a liability under GAAP.                “GAAP”  means  generally  accepted  accounting  principles  in  the  United   States, being those principles of accounting set forth in pronouncements of the Financial   Accounting Standards Board, the American Institute of Certified Public Accountants, or   which  have  other  substantial  authoritative  support  and  are  applicable  in  the   circumstances, as in effect, subject to Section 1.03(a), from time to time.                “Global Tranche Borrower” means (a) the Company, (b) VF Investments,   (c) VF Enterprises, (d) VF Europe, (e) VF International and (f) any Borrowing Subsidiary  that has been designated as a Global Tranche Borrower pursuant to Section 2.14.               “Global  Tranche  Commitment”  means,  with  respect  to  each  Lender,  the   commitment,  if  any,  of  such  Lender  to  make  Global  Tranche  Revolving  Loans  and  to   acquire  participations  in  Global Tranche  Letters  of  Credit  and Global  Tranche  Swing   Line  Loans  hereunder,  expressed  as  an  amount  representing  the  maximum  aggregate   amount  of  such  Lender’s  Global  Tranche  Revolving  Credit  Exposure,  as  such   commitment may be reduced or increased from time to time pursuant to Section 2.08 or   assignments by or to such Lender pursuant to Section 11.01.  The initial amount of each   Global Tranche Lender’s Global Tranche Commitment is set forth on Schedule 2.01, or   in the Assignment and Assumption or the Accession Agreement pursuant to which such                                                                                [[3883081]]  

 

                                                                      16    Global Tranche Lender shall have assumed or provided its Global Tranche Commitment,   as  the  case  may  be.   The  aggregate  amount  of  Global  Tranche  Commitments  on  the   Closing Date is US$2,250,000,000.                “Global  Tranche  L/C  Disbursement”  means  an  L/C  Disbursement  in   respect of a Global Tranche Letter of Credit.                “Global Tranche L/C Exposure” means, at any time, the sum of (a) the US   Dollar Equivalents of the undrawn amounts of all outstanding Global Tranche Letters of   Credit at such time plus (b) the sum of the US Dollar Equivalents of the amounts of all   Global Tranche L/C Disbursements that have not yet been reimbursed by or on behalf of   the applicable Borrowers at such time.  The Global Tranche L/C Exposure of any Lender   at any time shall be its Global Tranche Percentage of the aggregate Global Tranche L/C   Exposure at such time.  For purposes of determining the Global Tranche L/C Exposure at   any  time,  the  amount  of  any  Global  Tranche  Letter  of  Credit  that,  by  its  terms  or  the   terms  of  any  letter  of  credit  application  related  thereto,  provides for one or more   automatic  increases  in  the  stated  amount  thereof  shall  be  deemed  to  be  the  maximum   stated amount of such Letter of Credit after giving effect to all such increases, whether or   not such maximum stated amount is in effect at such time.                “Global  Tranche  Lender”  means  a  Lender  with  a  Global  Tranche   Commitment or a Global Tranche Revolving Credit Exposure.                “Global  Tranche  Lending  Office”  means,  with  respect  to  any  Global   Tranche  Lender,  such  office(s)  as  such  Lender  (or  any  Affiliate of such Lender) shall   have specified from time to time as its “Global Tranche Lending Office(s)” by notice to   the Company and the Administrative Agent.  A Global Tranche Lender may designate   different  Global  Tranche  Lending Offices  for  Loans  to  Global  Tranche  Borrowers  in  different jurisdictions.               “Global Tranche Letter of Credit” means a Letter of Credit designated as   such  by  the  Company  in  accordance  with  Section  2.05(b).   Global Tranche Letters of   Credit may be issued in US Dollars or in any Alternative Currency.                “Global Tranche Percentage” means, with respect to any Global Tranche   Lender  at  any  time,  the  percentage  of  the  aggregate  Global  Tranche  Commitments   represented by such Global Tranche Lender’s Global Tranche Commitment at such time;   provided that, in the case of Section 2.15 when a Defaulting Lender shall exist, “Global   Tranche Percentage” shall mean the percentage of the total Global Tranche Commitments   (disregarding any Defaulting Lender’s Global Tranche Commitment) represented by such   Lender’s  Global  Tranche  Commitment.   If  the  Global  Tranche  Commitments  have   expired or been terminated, the Global Tranche Percentages shall be determined on the   basis of the Global Tranche Commitments most recently in effect, giving effect to any   assignments.                “Global Tranche Revolving Credit Exposure” means, with respect to any   Global Tranche Lender at any time, the sum of (a) the aggregate amount of the US Dollar                                                                                 [[3883081]]  

 

                                                                      17    Equivalents  of  such  Global  Tranche  Lender’s  outstanding  Global Tranche  Revolving   Loans,  (b) such  Global  Tranche  Lender’s  Global  Tranche  L/C  Exposure  and  (c) such   Global Tranche Lender’s Global Tranche Swing Line Exposure.                “Global  Tranche  Revolving  Loans”  means  Loans  made  by  the  Global   Tranche  Lenders  pursuant  to  Section  2.01(a).   Each  Global  Tranche  Revolving  Loan  denominated in US Dollars shall be a LIBOR Loan or an ABR Loan.  Each Global  Tranche Revolving Loan denominated in Euros shall be a EURIBOR Loan.  Each Global  Tranche Revolving Loan denominated in Canadian Dollars shall be a CDOR Loan. Each  Global  Tranche  Revolving  Loan  denominated  in  an  Alternative  Currency  other  than  Euros or Canadian Dollars shall be a LIBOR Loan.               “Global Tranche Swing Line Exposure” means, at any time, the aggregate   amount  of  the  US  Dollar  Equivalents  of  the  Global  Tranche  Swing  Line  Loans  outstanding at such time.  The Global Tranche Swing Line Exposure of any Lender at any  time shall be the sum of (a) its Global Tranche Percentage of the aggregate amount of the  US Dollar Equivalents of the Global Tranche Swing Line Loans outstanding at such time  (excluding, in the case of any Lender that is a Swing Line Lender, Global Tranche Swing  Line Loans made by it and outstanding at such time to the extent that the other Global  Tranche Lenders shall not have funded their participations in such Global Tranche Swing  Line Loans), adjusted to give effect to any reallocation under Section 2.15 of the Global  Tranche Swing Line Exposures of Defaulting Lenders in effect at such time, and (b) in  the case of any Lender that is a Swing Line Lender, the aggregate principal amount of all  Global Tranche Swing Line Loans made by such Lender and outstanding at such time to  the  extent  that  the  other  Global  Tranche  Lenders  shall  not  have  funded  their  participations in such Global Tranche Swing Line Loans.               “Global Tranche Swing Line Loan” means a Swing Line Loan designated   as such by the Company in accordance with Section 2.04(b).                “Governmental Authority” means any federal, state, municipal, national or   other governmental department, commission, board, bureau, court, central bank, agency   or  instrumentality  or  political  subdivision  thereof  or  any  entity  or  officer  exercising   executive,  legislative,  judicial,  taxing,  regulatory  or  administrative  functions  of  or   pertaining to any government or any court, in each case whether associated with a state of   the  United  States  of  America,  the  United  States  of  America  or  a  foreign  entity  or   government  (including  any  supra-national  body  exercising  such  powers  or  functions,  such as the European Union or the European Central Bank).               “Guarantee” by any Person means any obligation, contingent or otherwise,   of such Person directly or indirectly guaranteeing any Indebtedness of any other Person   and, without limiting the generality of the foregoing, any obligation, direct or indirect,   contingent  or  otherwise,  of  such  Person  (a)  to  purchase  or  pay (or  advance  or  supply   funds for the purchase or payment of) such Indebtedness (whether arising by virtue of   partnership  arrangements,  by  agreement  to  keep-well,  to  purchase  assets,  goods,   securities  or  services,  to  take-or-pay,  or  to  maintain  financial  statement  conditions  or   otherwise) and the purpose of such contracts is to provide credit support in the nature of a                                                                                 [[3883081]]  

 

                                                                     18   guaranty or (b) entered into for the purpose of assuring in any other manner the holder of  such Indebtedness of 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  deposit  in  the  ordinary  course  of  business.   The  term  “Guarantee” used as a verb has a corresponding meaning.                “Increasing Lenders” has the meaning specified in Section 2.08(d).               “Indebtedness”  means,  as  to  any  Person,  without  duplication,  (a)  all  Funded  Indebtedness  of  such  Person,  (b)  all  Funded  Indebtedness  of  any  other  Person  secured by any Lien on any property or asset owned or held by such Person, regardless of  whether the indebtedness secured thereby shall have been assumed by such Person or is  non-recourse  to  the  credit  of  such  Person,  other  than  indebtedness  secured  by  cash  deposits subject to a legal right of set-off and not classified as a liability under GAAP,  and (c) all Funded Indebtedness of any other Person Guaranteed by such Person.               “Indemnified Liabilities” has the meaning specified in Section 11.09(a).               “Indemnified Party” has the meaning specified in Section 11.09(a).               “Indemnified  Taxes”  means  (a)  Taxes,  other  than  Excluded  Taxes,  imposed on or with respect to any payment made by or on account of any obligation of  any Borrower under this Agreement or any other Loan Document and (b) to the extent  not otherwise described in clause (a) of this definition, Other Taxes.               “Index  Debt”  means  senior,  unsecured,  long-term  Indebtedness  for  borrowed money of the Company that is not guaranteed by any other Person or subject to  any other credit enhancement.                “Information” has the meaning specified in Section 11.13.               “Interest Election Request” means a request by the Company to convert or  continue a Borrowing in accordance with Section 2.07, in the form of Exhibit D hereto.               “Interest Payment Date” means (a) with respect to any ABR Loan (other  than a Swing Line Loan), the last day of each March, June, September and December,  (b) with respect to any LIBOR, EURIBOR or CDOR Loan, the last day of the Interest  Period  applicable  to the  Borrowing of  which  such  Loan is a  part and, in the case of a  LIBOR,  EURIBOR  or  CDOR  Borrowing with  an  Interest  Period  of  more  than  three  months’ duration, each day prior to the last day of such Interest Period that shall occur at  an  interval  of  three  months’  duration  after  the  first  day  of  such  Interest  Period  and  (c) with respect to any Swing Line Loan, the day that such Loan is required to be repaid.               “Interest Period” means with respect to any LIBOR, EURIBOR or CDOR  Borrowing, the period commencing on the date of such Borrowing and ending on (a) the  day that is one week thereafter, if quotations are available for deposits of such duration,  or (b) the numerically corresponding day in the calendar month that is one, two, three or  six months  thereafter  (or,  if  agreed  to  by  each  Lender  participating  therein,  twelve                                                                                                [[3883081]]  

 

                                                                     19   months  thereafter),  in  each  case  as  the  Company  may  elect;  provided  that  (i) if  any  Interest Period would end on a day other than a Business Day, such Interest Period shall  be  extended  to  the  next  succeeding  Business  Day  unless,  in  the case  of  a  LIBOR,  EURIBOR or CDOR Borrowing with an Interest Period of greater than one week, such  next succeeding Business Day would fall in the next calendar month, in which case such  Interest Period shall end on the next preceding Business Day and (ii) any Interest Period  (other than any LIBOR, EURIBOR or CDOR Borrowing with an Interest Period of one  week) that commences on the last Business Day of a calendar month  (or  on  a  day  for  which  there  is  no  numerically  corresponding  day  in  the  last  calendar  month  of  such  Interest  Period)  shall  end  on  the  last  Business  Day  of  the  last  calendar  month  of  such  Interest Period.  For purposes hereof, the date of a Borrowing initially shall be the date on  which  such  Borrowing  is  made  and  thereafter  shall  be  the  effective  date  of  the  most  recent conversion or continuation of such Borrowing.               “Interpolated Screen Rate” means, with respect to any LIBOR, EURIBOR  or CDOR Loan for any Interest Period or clause (c) of the definition of the term Alternate  Base  Rate,  a  rate  per  annum  that  results  from  interpolating  on a  linear  basis  between  (a) the  applicable  Screen  Rate  for  the  longest  maturity  for  which  a  Screen  Rate  is  available that is shorter than the applicable period and (b) the applicable Screen Rate for  the  shortest  maturity  for  which  a  Screen  Rate  is  available  that  is  longer  than  the  applicable period, in each case, as of the time the Interpolated Screen Rate is required to  be determined in accordance with the other provisions hereof; provided that if such rate  would be less than zero, such rate shall be deemed to be zero.               “JPMCB” means JPMorgan Chase Bank, N.A. and its successors.               “L/C  Commitment”  means,  with  respect  to  any  L/C  Issuer,  the  commitment  of  such  L/C  Issuer  to  issue  Letters  of  Credit  hereunder,  expressed  as  an  amount representing the maximum aggregate amount of the L/C Exposure that may be  attributable to Letters of Credit issued by such L/C Issuer.  The initial amount of each  L/C Issuer’s LC Commitment is set forth in Schedule 2.05B or, in the case of any L/C  Issuer that becomes a L/C Issuer hereunder pursuant to Section 2.05(i) or 2.05(k), in its  L/C  Issuer  Agreement.   The  L/C  Commitment  of  any  L/C  Issuer  may  be  increased  or  reduced by written agreement between such L/C Issuer and the Company, provided that a  copy of such written agreement shall have been delivered to the Administrative Agent.               “L/C Disbursement” means a payment made by an L/C Issuer pursuant to  a Letter of Credit.               “L/C Exposure” means, at any time, the sum of the Global Tranche L/C  Exposure  and  the  US  Tranche  L/C  Exposure  at  such  time.   The  L/C  Exposure  of  any  Lender at any time shall be the sum of such Lender’s Global Tranche L/C Exposure and  US Tranche L/C Exposure.               “L/C Fronting Fee” has the meaning specified in Section 2.11(b).                                                                                                   [[3883081]]  

 

                                                                     20               “L/C Issuer” means JPMCB, Bank of America, N.A., Barclays Bank PLC,  HSBC Bank USA, National Association, U.S. Bank National Association, Wells Fargo  Bank, N.A. and such other Lenders as may become L/C Issuers hereunder from time to  time  by  entering  into  L/C  Issuer  Agreements  with  the  Company  pursuant  to  Section  2.05(i) or 2.05(k), each in its capacity as an issuer of Letters of Credit hereunder, other  than any Person that shall have ceased to be an L/C Issuer as provided in Section 2.05(i).   Each L/C Issuer may, in its discretion, arrange for one or more Letters of Credit to be  issued by Affiliates of such L/C Issuer, in which case the term “L/C Issuer” shall include  any  such  Affiliate  with  respect  to  Letters  of  Credit  issued  by such  Affiliate  (it  being  agreed that such L/C Issuer shall cause such Affiliate to comply with the requirements of  Section 2.05 with respect to such Letters of Credit).               “L/C Issuer Agreement” means an L/C Issuer Agreement between an L/C  Issuer, the Administrative Agent and the Company, substantially in the form of Exhibit E.               “L/C Issuer Fee” has the meaning specified in Section 2.11(b).               “L/C Participation Fee” has the meaning specified in Section 2.11(b).               “Lender  Parent”  means,  with  respect  to  any  Lender,  any  Person  as  to  which such Lender is, directly or indirectly, a subsidiary.               “Lenders”  means  the  Persons  listed  on  Schedule 2.01,  any  other Person  that  shall  have  become  a  Lender  pursuant  to  an  Assignment  and  Assumption  or  Section 2.08(d), other than any such Person that shall have ceased to be a party hereto  pursuant to an Assignment and Assumption.  Unless the context otherwise requires, the  term  “Lenders”  includes  each  Swing  Line  Lender.   For  all  purposes  of  Article  III,  the  term “Lender” includes each L/C Issuer.               “Letter of Credit” means a (a) letter of credit issued under this Agreement  and (b) each of the Existing Letters of Credit.               “LIBO Rate” means, with respect to any LIBOR Loan denominated in any  currency for any Interest Period, the applicable Screen Rate as of the Specified Time on  the Quotation Day.               “LIBOR”,  when  used  in  reference  to  any  Loan  or  Borrowing,  refers  to  whether such Loan, or the Loans comprising such Borrowing, shall bear interest at a rate  determined by reference to the LIBO Rate or the Adjusted LIBO Rate.               “Lien” means any interest in property securing any obligation owed to, or  a claim by, a Person other than the owner of the property, whether such interest is based  on  the  common  law,  statute  or  contract,  and  including  but  not  limited  to  the  lien  or  security  interest  arising  from  a  mortgage,  encumbrance,  pledge,  security  agreement,  conditional sale or trust receipt or a lease, consignment or bailment for security purposes.   For the purposes of this Agreement, the Company and any Subsidiary shall be deemed to  be the owner of any property which it has acquired or holds subject to a conditional sale                                                                                                 [[3883081]]  

 

                                                                     21   agreement, financing lease, or other arrangement pursuant to which title to the property  has been retained by or vested in some other Person for security purposes.               “Loan  Documents”  means  this  Agreement,  each  Borrowing  Subsidiary  Agreement,  each  Borrowing  Subsidiary  Termination,  each  Accession  Agreement,  each  Extension  Agreement  and,  other  than  for  purposes  of  Section  11.06,  each  L/C  Issuer  Agreement, each Swing Line Agreement and the Notes.               “Loans” means the loans made by the Lenders to the Borrowers pursuant  to this Agreement.               “Local  Time”  means  (a)  with  respect  to  any  Loan  or  Borrowing  denominated in US Dollars or any Letter of Credit, New York City time, (b) with respect  to  a  Loan  or  Borrowing  denominated  in  Canadian  Dollars,  Toronto  time  and  (c)  with  respect to any Loan or Borrowing denominated in any other currency, London time.                “Margin  Stock”  shall  have  the  meaning  specified  for  such  term  in  Regulation U of the Board.               “Material  Adverse  Effect”  means  a  material  adverse  effect  on  (a)  the  business, financial position or results of operations of the Company and its Subsidiaries,  taken  as  a  whole,  (b)  the  ability  of  the  Company  to  pay  or  perform  its  material  obligations, liabilities and indebtedness under the Loan Documents as such payment or  performance becomes due and payable in accordance with the terms thereof, or (c) the  rights, powers and remedies of the Administrative Agent or any Lender under any Loan  Document or the validity, legality or enforceability thereof.               “Material  Plan”  means,  at  any  time,  a  Plan  or  Plans  having  aggregate  Unfunded Liabilities in excess of US$100,000,000.               “Maximum Amount” has the meaning specified in Section 11.20(a).               “MNPI” means material information concerning the Company or any of  the Subsidiaries or any of its or their respective securities that has not been disseminated  in a manner making it available to investors generally, within the meaning of Regulation  FD  under  the  Exchange  Act.   For  purposes  of  this  definition,  “material  information”  means  information  concerning  the  Company,  the  Subsidiaries  or  any  of  its  or  their  respective securities that could reasonably be expected to be material for purposes of the  United States federal and state securities laws.               “Moody’s” means Moody’s Investors Service, Inc., and any successor to  its rating agency business.               “Multiemployer Plan” means at any time an employee benefit plan within  the meaning of Section 4001(a)(3) of ERISA to which any member of the ERISA Group  is  then  making,  or  is  accruing  an  obligation  to  make,  contributions  or  has  within  the  preceding  five  plan  years  made  contributions,  including  for  these  purposes  any  Person  which ceased to be a member of the ERISA Group during such five-year period.                                                                                                [[3883081]]  

 

                                                                     22               “Non-Defaulting  Lender”  means,  at  any  time,  any  Lender  that  is not  a  Defaulting Lender at such time.               “Notes”  means  the  promissory  notes,  if  any,  executed  and  delivered  pursuant to Section 2.09(e).               “Notice of Objection” has the meaning specified in Section 2.14.               “NYFRB” means the Federal Reserve Bank of New York.                “NYFRB Rate” means, for any day, the greater of (a) the Federal Funds  Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect  on such day (or for any day that is not a Business Day, for the immediately preceding  Business  Day);  provided  that  if  none  of  such  rates  are  published  for  any  day  that  is  a  Business Day, the term “NYFRB Rate” shall mean the rate for a federal funds transaction  quoted at 11:00 a.m., New York City time, on such day received to the Administrative  Agent  from  a  Federal  funds  broker  of  recognized  standing  selected  by  it;  provided,  further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed  to be zero for purposes of this Agreement.                “Obligations”  means  the  obligations,  liabilities  and  Indebtedness  of  the  Company  and  each  other  Borrower  with  respect  to  (a)  the  principal  on  the  Loans  and  reimbursement obligations in respect of the L/C Disbursements, and interest thereon, and  (b) the payment and performance of all other obligations, liabilities and Indebtedness of  the  Borrowers  to  the  Lenders,  the  L/C  Issuers  or  the  Administrative  Agent  hereunder,  under  any  one  or  more  of  the  other  Loan  Documents  or  otherwise with  respect  to  the  Loans or Letters of Credit.               “Organizational Documents” means (a) with respect to any corporation, its  certificate or articles of incorporation or organization and its by-laws, (b) with respect to  any  limited  partnership,  its  certificate  of  limited  partnership  and  its  partnership  agreement, (c) with respect to any general partnership, its partnership agreement, (d) with  respect  to  any  limited  liability  company,  its  articles  of  organization  or  certificate  of  formation and its operating agreement, and (e) with respect to any other form of entity,  such  other  organizational  documents  required  by  local  law  or  customary  under  the  jurisdiction  of  formation  of  such entity  to  document  the  formation  and  governance  principles of such type of entity.               “Other Taxes” has the meaning specified in Section 3.05(b).               “Overnight Bank Funding Rate” means, for any day, the rate comprised of  both  overnight  federal  funds  and  overnight  Eurodollar  borrowings  by  U.S.-managed  banking offices of depository institutions, as such composite rate shall be determined by  the NYFRB as set forth on its public website from time to time, and published on the next  succeeding Business Day by the NYFRB as an overnight bank funding rate (from and  after such date as the NYFRB shall commence to publish such composite rate).                “Participant” has the meaning specified in Section 11.01(d).                                                                                                [[3883081]]  

 

                                                                      23                “Participant Register” has the meaning specified in Section 11.01(g).                “Participating Member State” means each state so described in any EMU   Legislation.                “PBGC” means the Pension Benefit Guaranty Corporation referred to and   defined in ERISA and any successor entity performing similar functions.                “Person”  means  an  individual,  partnership,  corporation,  limited  liability   company,  limited  liability  partnership,  trust,  unincorporated  organization,  association,   joint venture or a Governmental Authority.                “Plan” means at any time an employee pension benefit plan (other than a   Multiemployer Plan) which is covered by Title IV of ERISA or subject to the minimum   funding standards under Section 412 of the Code or Section 302 of ERISA and either (a)   is  sponsored,  maintained,  or  contributed  to,  by  any  member  of  the  ERISA  Group  for   employees  of  any  member  of  the  ERISA  Group  or  (b)  has  at  any  time within the   preceding five years been sponsored, maintained, or contributed to, by any Person which   was at such time a member of the ERISA Group for employees of any Person which was   at such time a member of the ERISA Group.                “Platform” means IntraLinksTM, DebtDomain, SyndTrak, ClearPar or any   other  electronic  platform  chosen  by  the  Administrative  Agent  to  be  its  electronic   transmission system.                “Prime  Rate”  means  the  rate  of  interest  last  quoted  by The Wall Street   Journal as the “Prime Rate” in the United States or, if The Wall Street Journal ceases to  quote such rate, the highest per annum interest rate published by the Board in Federal  Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan”  rate  or,  if  such  rate  is  no  longer  quoted  therein,  any  similar rate  quoted  therein  (as  determined by the Administrative Agent in its reasonable discretion, in consultation with  the Company) or any similar release by the Board (as determined by the Administrative  Agent in its reasonable discretion, in consultation with the Company).  Each change in  the  Prime  Rate  shall  be  effective  from  and  including  the  date  such  change  is  publicly  announced as being effective.                “PTE” means a prohibited transaction class exemption issued by the U.S.   Department of Labor, as any such exemption may be amended from time to time.                “Public Lender” has the meaning specified in Section 6.01.                “Quotation Day” means, in respect of (a) the determination of the LIBO   Rate for any Interest Period for Loans in US Dollars or in any Alternative  Currency   (other  than  Sterling),  the  day  that  is  two  Business  Days  prior to the first day of such   Interest Period, (b) any Interest Period for Loans in Euro, the day which is two TARGET   Operating Days prior to the first day of such Interest Period, and (c) any Interest Period   for Loans in Sterling or Canadian Dollars, the first day of such Interest Period, in each   case  unless  market  practice  changes  for  loans  in  the  applicable  currency  priced  by                                                                                [[3883081]]  

 

                                                                      24    reference to rates quoted in the Relevant Interbank Market, in which case the Quotation   Day for such currency shall be determined by the Administrative Agent (in consultation   with the Company) in accordance with market practice for such loans priced by reference   to rates quoted in the Relevant Interbank Market (and if quotations would normally be   given by leading banks for such loans priced by reference to rates quoted in the Relevant   Interbank  Market  on  more  than  one  day,  the  Quotation  Day  shall be  the  last  of  those   days).                “Refinancing  Indebtedness”  means,  in  respect  of  any  Indebtedness  (the   “Original  Indebtedness”),  any  Indebtedness  that  extends,  renews  or  refinances  such   Original Indebtedness (or any Refinancing Indebtedness in respect thereof); provided that   (a) the principal amount of such Refinancing Indebtedness shall not exceed the principal   amount  of  such  Original  Indebtedness;  (b)  such  Refinancing  Indebtedness  shall  not  constitute an obligation (including pursuant to a Guarantee) of any Subsidiary that shall  not have been (or, in the case of after-acquired Subsidiaries, shall not have been required  pursuant to the terms of the Original Indebtedness to become) an obligor in respect of  such Original Indebtedness; and (c) such Refinancing Indebtedness shall not be secured  by any Lien on any asset other than the assets that secured such Original Indebtedness (or  would  have  been  required  to  secure  such  Original  Indebtedness  pursuant  to  the  terms  thereof).               “Register” has the meaning specified in Section 11.01(c).                “Related  Parties”  means,  with  respect  to  any  specified  Person, such   Person’s Affiliates and the directors, officers, partners, trustees, employees, agents and   advisors of such Person and of such Person’s Affiliates.                “Relevant  Interbank  Market”  means  (a)  with  respect  to  any  currency   (other than Euros or Canadian Dollars), the London interbank market, (b) with respect to   Euros,  the  European  interbank  market  and  (c)  with  respect  to  Canadian  Dollars,  the   Toronto interbank market.                “Required Lenders” means, at any time, Lenders having Revolving Credit   Exposure  and  unused  Commitments  representing  more  than  50%  of  the  Aggregate   Revolving  Credit  Exposure  and  unused  Commitments  at  such  time; provided,  that  for   purposes  of  this  definition,  (a)  in  determining  the  Global  Tranche  Revolving  Credit   Exposure of any Swing Line Lender, the Global Tranche Swing Line Exposure of such   Lender shall be deemed to equal its Global Tranche Percentage of all outstanding Global   Tranche  Swing  Line  Loans,  but  adjusted  to  give  effect  to  any  reallocation  under   Section 2.15(c) of the Global Tranche Swing Line Exposures of Defaulting Lenders in   effect at such time, (b) in determining the US Tranche Revolving Credit Exposure of any   Swing  Line  Lender,  the  US  Tranche  Swing  Line  Exposure  of  such  Lender  shall  be   deemed to equal its US Tranche Percentage of all outstanding US Tranche Swing Line   Loans,  but  adjusted  to  give  effect  to  any  reallocation  under  Section 2.15(c)  of  the  US   Tranche Swing Line Exposures of Defaulting Lenders in effect at such time,  and (c) the   unused  Commitments  of  any  such  Lender  shall  be  determined  in  a manner  consistent   with the preceding clauses (a) and (b).                                                                                 [[3883081]]  

 

                                                                     25               “Restricted Obligations” has the meaning specified in Section 11.20(a).               “Reuters”  means  Thomson  Reuters  Corporation,  a  corporation  incorporated under and governed by the Business Corporations Act (Ontario), Canada, or  a successor thereto.               “Revolving  Borrowing”  means  a  Borrowing  comprised  of  Revolving  Loans.               “Revolving Credit Exposure” means a Global Tranche Revolving Credit  Exposure or a US Tranche Revolving Credit Exposure.               “Revolving  Loan”  means  a  Global  Tranche  Revolving  Loan  or  a  US  Tranche Revolving Loan, as applicable.               “S&P”  means  S&P  Global  Ratings,  a  division  of  S&P  Global  Inc., and  any successor to its rating agency business.               “Sanctioned  Country”  means,  at  any  time,  a  country,  region  or  territory  which is the subject or target of comprehensive territorial Sanctions (at the time of this  Agreement, Crimea, Cuba, Iran, North Korea and Syria).               “Sanctioned  Person”  means,  at  any  time,  (a)  any  Person listed  in  any  Sanctions-related list of designated Persons maintained by the Office of Foreign Assets  Control of the U.S. Department of the Treasury, the U.S. Department of State, the United  Nations  Security  Council,  the  European  Union,  any  European  Union  member  state  to  whose  jurisdiction  the  Company  or  any  Subsidiary  of  the  Company  is  subject  or  Her  Majesty’s Treasury of the United Kingdom, (b) any Person located, organized or resident  in a Sanctioned Country or (c) any Person owned 50% or more by any Person or Persons  described in the foregoing clause (a) and/or, to the knowledge of the Borrowers, clause  (b).               “Sanctions”  means  economic  or  financial  sanctions  or  trade  embargoes  imposed, administered or enforced from time to time by (a) the Office of Foreign Assets  Control of the U.S. Department of the Treasury or the U.S. Department of State or (b) the  United  Nations  Security  Council,  the  European  Union,  any  European  Union  member  state to whose jurisdiction the Company or any Subsidiary of the Company is subject or  Her Majesty’s Treasury of the United Kingdom.                “Screen  Rate”  means  (a)  in  respect  of  the  LIBO  Rate  for  any  Interest  Period, or in respect of any determination of the Alternate Base Rate pursuant to clause  (c) of the definition thereof, a rate per annum equal to the London interbank offered rate  as administered by the ICE Benchmark Administration (or any other  Person  that  takes  over the administration of such rate) for deposits in the applicable currency (for delivery  on the first day of such Interest Period) with a term equivalent to the relevant period as  displayed  on  the  Reuters  screen  page  that  displays  such  rate  (currently  LIBOR01  or  LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on  the appropriate page of such other information service that publishes such rate as shall be                                                                                                [[3883081]]  

 

                                                                     26   selected by the Administrative Agent from time to time in its reasonable discretion, in  consultation  with  the  Company),  (b)  in  respect  of  the  EURIBO  Rate  for  any  Interest  Period, the rate per annum determined by the European Money Market Institute (or any  other Person that takes over the administration of such rate) as the rate at which interbank  deposits in Euro are being offered by one prime bank to another within the EMU zone for  such  Interest  Period,  as  set  forth  on  the  Reuters  screen  page  that  displays  such  rate  (currently  EURIBOR01)  (or,  in  the  event  such  rate  does  not  appear  on  a  page  of  the  Reuters screen, on the appropriate page of such other information service that publishes  such  rate  as  shall  be  selected  by  the  Administrative  Agent  from  time  to  time  in  its  reasonable discretion, in consultation with the Company) and (c) in respect of the CDO  Rate  for  any  Interest  Period,  the  average  rate  for  bankers  acceptances  denominated  in  Canadian Dollars with a term equal to the relevant Interest Period as displayed on the on  the  “Reuters  Screen  CDOR  Page”  as  defined  in  the  International Swap  Dealer  Association, Inc. definitions, as modified and amended from time to time (or, in the event  such rate does not appear on such page or screen, on the appropriate page of such other  information service that publishes such rate, as shall be selected by the Administrative  Agent from time to time in its reasonable discretion, in consultation with the Company);  provided that (i) if, as to any currency, no Screen Rate shall be available for a particular  period  at  such  time  but  Screen  Rates  shall  be  available  for  maturities  both  longer  and  shorter than such period at such time, than the Screen Rate for such period shall be the  Interpolated  Screen  Rate  as  of  such  time  and  (ii)  if  the  Screen  Rate,  determined  as  provided above, would be less than zero, the Screen Rate shall be deemed to be zero for  purposes of this Agreement.               “Significant  Subsidiary”  means  at  any  time  any  Subsidiary,  except  Subsidiaries which at such time have been designated by the Company (by notice to the  Administrative Agent, which may be amended from time to time, which notices shall be  made available by the Administrative Agent to the Lenders upon request) as nonmaterial  and  which,  if  aggregated  and  considered  as  a  single  Subsidiary,  would  not  meet  the  definition of “significant subsidiary” in Regulation S-X of the Securities and Exchange  Commission.                “Specified  Time”  means  (a)  with  respect  to  the  LIBO  Rate,  11:00  a.m.,  London  time,  (b)  with  respect to  the  EURIBO  Rate,  11:00  a.m.,  Brussels time and (c)  with respect to the CDO Rate, 10:15 a.m. Toronto time.               “Stated  Termination  Date”  means  December  17,  2023,  subject  to  the  extension  thereof  pursuant  to  Section  2.16;  provided,  however  that  the  Stated  Termination Date for any Lender that is a Declining Lender in respect of any requested  extension  pursuant  to  Section  2.16  shall  be  the  Stated  Termination  Date  in  effect  immediately prior to the effective date of the applicable Extension Permitted Amendment  for all purposes of this Agreement.               “Statutory Reserve Rate” means a fraction (expressed as a decimal), the  numerator of which is the number one and the denominator of which is the number one  minus  the  aggregate  of  the  maximum  reserve  percentages  (including  any  marginal,  special, emergency or supplemental reserves), expressed as a decimal, established by the                                                                                                 [[3883081]]  

 

                                                                     27   Board to which the Administrative Agent is subject for eurocurrency funding (currently  referred  to  as  “Eurocurrency  Liabilities”  in  Regulation D  of  the  Board).   Such  reserve  percentages shall include those imposed pursuant to such Regulation D.  LIBOR Loans  shall  be  deemed  to  constitute  eurocurrency  funding  and  to  be  subject  to  such  reserve  requirements without benefit of or credit for proration, exemptions or offsets that may be  available from time to time to any Lender under such Regulation D or any comparable  regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the  effective date of any change in any reserve percentage.               “Sterling” or “₤” means the lawful currency of the United Kingdom.                “subsidiary” means, with respect to any Person, any corporation or other  Person in which more than 50% of its outstanding Voting Securities or more than 50% of  all equity interests is owned directly or indirectly by such Person and/or by one or more  of its Subsidiaries.               “Subsidiary” means any subsidiary of the Company.               “Surviving Company” has the meaning specified in Section 7.04.               “Swing Line Agreement” means an instrument executed by the Company,  a  Lender  and  the  Administrative  Agent  under  which  such  Lender  agrees to serve as a  Swing Line Lender and that sets forth the Swing Line Commitment of such Lender.               “Swing  Line  Commitment”  means,  with  respect  to  each  Swing  Line  Lender, the commitment of such Swing Line Lender to make Swing Line Loans pursuant  to Section 2.04, expressed as an amount representing the maximum aggregate amount of  the US Dollar Equivalents of such Swing Line Lender’s outstanding Swing Line Loans  hereunder.  The initial amount of each Swing Line Lender’s Swing Line Commitment is  set forth on Schedule 2.04 or in its Swing Line Agreement. The Swing Line Commitment  of any Swing Line Lender may be increased or reduced by written agreement between  such  Swing  Line  Lender  and  the  Company,  provided  that  a  copy  of  such  written  agreement shall have been delivered to the Administrative Agent.               “Swing Line Exposure” means, at any time, the sum of the Global Tranche  Swing Line Exposure and the US Tranche Swing Line Exposure at such time. The Swing  Line  Exposure  of  any  Lender  at  any  time  shall  be  the  sum  of  such  Lender’s  Global  Tranche Swing Line Exposure and US Tranche Swing Line Exposure.               “Swing Line Lender” means each of JPMCB, in its capacity as a lender of  Swing Line Loans pursuant to Section 2.04, and any other Lender that shall have agreed  to serve in such capacity pursuant to a Swing Line Agreement.  Any Swing Line Lender  may  perform  any  of  its  obligations in its capacity as such through  one  or  more  of  its  Affiliates.               “Swing Line Loan” means a Loan made pursuant to Section 2.04.                                                                                                  [[3883081]]  

 

                                                                      28                “Swiss  Borrower”  means  any  Borrowing  Subsidiary  incorporated  under   the laws of Switzerland.                “Swiss Federal Withholding Tax” means any Taxes levied pursuant to the   Swiss Federal Act on Withholding Tax (Bundesgesetz über die Verrechnungssteuer vom   13. Oktober 1965, SR 642.21), as amended from time to time.                “Swiss Francs” or “CHF” means the lawful currency of Switzerland.                “TARGET”  means  the  Trans-European  Automated  Real-time  Gross   Settlement Express Transfer (TARGET2) payment system (or, if such payment system   ceases  to  be  operative,  such  other  payment  system  (if  any)  determined  by  the   Administrative Agent to be a suitable replacement).                “TARGET  Operating  Day”  means  any  day  on  which  both  (a)  banks  in   London are open for general business and (b) the TARGET is open for the settlement of  payments in Euro.               “Taxes” means any and all present or future taxes, duties, levies, imposts,   duties,  deductions,  withholdings  (including  backup  withholding),  assessments,  fees  or   other  charges,  in  each  case  in  the  nature  of  a  tax,  imposed  by any  Governmental   Authority,  and  all  liabilities  (including  penalties,  interest, and  expenses)  with  respect   thereto.                “Termination Date” means, as to any Lender, the earliest of (a) the Stated   Termination Date applicable to such Lender, (b) the date of termination of the Lenders’   obligations pursuant to Section 9.01 upon the occurrence of an Event of Default or (c) the   date  the  Company  voluntarily  and  permanently  terminates  the  Commitments  in   accordance with Section 2.08.                “Transactions”  means  the  execution,  delivery  and  performance  by  the   Company and each Borrowing Subsidiary of each Loan Document to which it is to be a   party, the borrowing of the Loans and the issuance of the Letters of Credit.               “Trust” means the respective trusts established under those certain deeds   of trust dated August 21, 1951, made by John E. Barbey and under the will of John E.   Barbey, deceased.                “Type”,  when  used  in  reference  to  any  Loan  or  Borrowing,  refers to   whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is   determined by reference to the Adjusted LIBO Rate, the LIBO Rate, the EURIBO Rate,   the  CDO  Rate,  the  Alternate  Base  Rate,  the  Euro  Overnight  Rate or  the  Alternative   Currency Overnight Rate.                “Undisclosed  Administration”  means,  with  respect  to  any  Person,  the   appointment  of  an  administrator, provisional  liquidator,  conservator,  receiver,  trustee,   custodian or other similar official by a supervisory authority or regulator under or based  on the applicable law in the country where such Person is subject to home jurisdiction                                                                                [[3883081]]  

 

                                                                      29    supervision  if  the  applicable  law  require  that  such  appointment  is  not  to  be  publicly   disclosed.                “Unfunded  Liabilities” means,  with  respect  to any  Plan  at any  time,  the   amount  (if  any)  by  which  (a)  the  value  of  all  benefit  liabilities  under  such  Plan,   determined on a plan termination basis using the assumptions prescribed by the PBGC   for  purposes  of  Section  4044  of  ERISA,  exceeds  (b)  the  fair  market  value  of  all  Plan   assets allocable to such liabilities under Title IV of ERISA (excluding any accrued but   unpaid contributions), all determined as of the then most recent valuation date for such   Plan, but only to the extent such excess represents a potential liability of a member of the   ERISA Group to the PBGC or any other Person under Title IV of ERISA.                “USA PATRIOT Act” means the Uniting and Strengthening America by   Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001.                “US Borrower” means any Borrower that is a US Person.                “US  Borrowing  Subsidiary” means  any  Borrowing  Subsidiary  that  is  a   Domestic Subsidiary.                “US  Dollar  Equivalent”  means,  on  any  date  of  determination,  (a) with   respect to any amount in US Dollars, such amount, and (b) with respect to any amount in   any  currency  other  than  US  Dollars,  the  equivalent  in  US  Dollars  of  such  amount,   determined  by  the  Administrative  Agent  pursuant  to  Section 1.04  using  the  Exchange   Rate with respect to such currency  at  the  time  in  effect  under the  provisions  of  such   Section.                “US Dollars” or “US$” means the lawful currency of the United States of   America.                “US Lender” means any Lender that is a US Person.                “US  Person”  means  a  “United  States  person”  as  defined  in  Section   7701(a)(30) of the Code.                 “US  Tranche  Borrower”  means  (a)  the  Company  and  (b)  any  US   Borrowing Subsidiary that has been designated as a US Tranche Borrower pursuant to   Section 2.14.                “US  Tranche  Commitment”  means,  with  respect  to  each  Lender,  the   commitment, if any, of such Lender to make US Tranche Revolving Loans and to acquire   participations  in  US  Tranche  Letters  of  Credit  and  US  Tranche  Swing  Line  Loans   hereunder, expressed as an amount representing the maximum aggregate amount of such   Lender’s US Tranche Revolving Credit Exposure, as such commitment may be reduced   or increased from time to time pursuant to Section 2.08 or assignments by or to such US  Tranche  Lender  pursuant  to  Section 11.01.   The  initial  amount  of  each  US  Tranche  Lender’s US Tranche Commitment is set forth on Schedule 2.01, or in the Assignment  and Assumption or the Accession Agreement pursuant to which such US Tranche Lender                                                                                [[3883081]]  

 

                                                                      30    shall have assumed or provided its US Tranche Commitment, as the case may be.  The   aggregate amount of US Tranche Commitments on the Closing Date is US$0.                “US Tranche L/C Disbursement” means an L/C Disbursement in respect   of a US Tranche Letter of Credit.                “US  Tranche  L/C  Exposure”  means,  at  any  time,  the  sum  of  (a) the  US   Dollar  Equivalents  of  the  undrawn  amounts  of  all  outstanding  US Tranche Letters of   Credit at such time plus (b) the sum of the US Dollar Equivalents of the amounts of all   US Tranche L/C Disbursements that have not yet been reimbursed by or on behalf of the   applicable Borrowers at such time.  The US Tranche L/C Exposure of any Lender at any   time shall be its US Tranche Percentage of the aggregate US Tranche L/C Exposure at   such time.  For purposes of determining the US Tranche L/C Exposure at any time, the   amount of any US Tranche Letter of Credit that, by its terms or the terms of any letter of   credit  application  related  thereto,  provides  for  one  or  more  automatic  increases  in  the   stated amount thereof shall be deemed to be the maximum stated amount of such Letter   of Credit after giving effect to all such increases, whether or not such maximum stated   amount is in effect at such time.                “US Tranche Lender” means a Lender with a US Tranche Commitment or   a US Tranche Revolving Credit Exposure.                “US  Tranche  Lending  Office”  means,  with  respect  to  any  US  Tranche   Lender,  such  office(s)  as  such  Lender  (or  any  Affiliate  of  such  Lender)  shall  have   specified  from  time  to  time  as  its  “US  Tranche  Lending  Office(s)”  by  notice  to  the   Company and the Administrative Agent.                  “US Tranche Letter of Credit” means a Letter of Credit designated as such   by the Company in accordance with Section 2.05(b).  US Tranche Letters of Credit may   be issued in US Dollars or in any Alternative Currency.                “US Tranche Percentage” means, with respect to any US Tranche Lender   at any time, the percentage of the aggregate US Tranche Commitments represented by   such US Tranche Lender’s US Tranche Commitment at such time; provided that, in the   case  of  Section 2.15  when  a  Defaulting  Lender  shall  exist,  “US Tranche  Percentage”   shall  mean  the  percentage  of  the  total  US  Tranche  Commitments  (disregarding  any   Defaulting  Lender’s  US  Tranche  Commitment)  represented  by  such Lender’s  US   Tranche  Commitment.   If  the  US  Tranche  Commitments  have  expired  or  been   terminated,  the  US  Tranche  Percentages  shall  be  determined  on  the basis of the US   Tranche Commitments most recently in effect, giving effect to any assignments.                “US Tranche Revolving Credit Exposure” means, with respect to any US   Tranche  Lender  at  any  time,  the  sum  of  (a) the  aggregate  amount  of  the  US  Dollar   Equivalents  of  such  US  Tranche  Lender’s  outstanding  US  Tranche Revolving  Loans,  (b) such  US  Tranche  Lender’s  US  Tranche  L/C  Exposure  and  (c)  such  US  Tranche  Lender’s US Tranche Swing Line Exposure.                                                                                 [[3883081]]  

 

                                                                      31                “US  Tranche  Revolving  Loans”  means  Loans  made  by  the  US  Tranche   Lenders pursuant to Section 2.01(b).  Each US Tranche Revolving Loan denominated in   US Dollars shall be a LIBOR Loan or an ABR Loan.  Each US Tranche Revolving Loan   denominated  in  Euros  shall  be  a  EURIBOR  Loan.   Each  US  Tranche Revolving Loan   denominated in Canadian Dollars shall be a CDOR Loan. Each US Tranche Revolving   Loan  denominated  in  an  Alternative  Currency  other  than  Euros  and  Canadian  Dollars   shall be a LIBOR Loan.                “US  Tranche  Swing  Line  Exposure” means,  at  any  time,  the  aggregate   amount of the US Dollar Equivalents of the US Tranche Swing Line Loans outstanding at   such time.  The US Tranche Swing Line Exposure of any Lender at any time shall be the   sum  of  (a)  its  US  Tranche  Percentage  of  the  aggregate  amount  of the US Dollar   Equivalents of the US Tranche Swing Line Loans outstanding at such time (excluding, in   the case of any Lender that is a Swing Line Lender, US Tranche Swing Line Loans made   by it and outstanding at such time to the extent that the other US Tranche Lenders shall   not have funded their participations in such US Tranche Swing Line Loans), adjusted to   give  effect  to  any  reallocation  under  Section 2.15  of  the  US  Tranche  Swing  Line   Exposures of Defaulting Lenders in effect at such time, and (b) in the case of any Lender   that is a Swing Line Lender, the aggregate principal amount of all US Tranche Swing   Line Loans made by such Lender and outstanding at such time to the extent that the other   US Tranche Lenders shall not have funded their participations in such US Tranche Swing   Line Loans.                “US Tranche Swing Line Loan” means a Swing Line Loan designated as   such by the Company in accordance with Section 2.04(b).                “VF Enterprises” has the meaning specified in the preamble hereto.                “VF Europe” has the meaning specified in the preamble hereto.                “VF International” has the meaning specified in the preamble hereto.                “VF Investments” has the meaning specified in the preamble hereto.                “Voting Securities” means shares of capital stock issued by a corporation,   or  equivalent  interests  in  any  other  Person,  the  holders  of  which  are  ordinarily,  in  the   absence  of  contingencies,  entitled  to  vote  for  the  election  of directors  (or  persons   performing  similar  functions)  of  such  Person,  even  if  the  right  so  to  vote  has  been   suspended by the happening of such a contingency.                “Wholly  Owned  Subsidiary”  means  any  Subsidiary  all  of  the  shares  of   capital stock or other ownership interests of which (except directors’ qualifying shares  and, in the case of any Subsidiary organized in a jurisdiction outside of the United States,  shares not exceeding 5% of total shares) are at the time directly or indirectly owned by  the Company.               “Write-Down  and  Conversion  Powers”  means,  with  respect  to  any  EEA   Resolution  Authority,  the  write-down  and  conversion  powers  of  such  EEA  Resolution                                                                                [[3883081]]  

 

                                                                      32    Authority  from  time  to  time  under  the  Bail-In  Legislation  for  the  applicable  EEA   Member  Country,  which  write-down and  conversion  powers  are  described  in  the  EU   Bail-In Legislation Schedule.                 “Yen” or “¥” means the lawful currency of Japan.                SECTION 1.02.  Classification of Loans and Borrowings.  For purposes of   this Agreement, Loans may be classified and referred to by Class (e.g., a “Global Tranche   Revolving Loan”) or by Type (e.g., a “LIBOR Revolving Loan”) or by Class and Type   (e.g., a “Global Tranche LIBOR Revolving Loan”).  Borrowings also may be classified   and  referred  to  by  Class  (e.g.,  a “Global  Tranche  Borrowing”)  or  by  Type  (e.g.,  a   “LIBOR  Borrowing”)  or  by  Class  and  Type  (e.g.,  a  “Global  Tranche  LIBOR   Borrowing”).                SECTION 1.03.  Rules  of  Interpretation.   (a)  All  accounting  terms  not   specifically defined herein shall have the meanings assigned to such terms, and shall be   interpreted in accordance with, GAAP as in effect from time to time; provided that if the   Company  notifies  the  Administrative  Agent  that  the  Company  wishes  to  amend  any   covenant in Article VII (including any defined term as used in such Article) to eliminate   the effect of any change in GAAP or in the application thereof on the operation of such   covenant (or if the Administrative Agent notifies the Company that the Required Lenders   wish to amend any covenant in Article VII (including any defined term as used in such  Article) for such purpose), then the Company’s compliance with such covenant shall be  determined  on  the  basis  of  GAAP  as  in  effect  and  applied  immediately  before  the  relevant change in GAAP or in the application thereof became effective, until either such  notice  is  withdrawn  or  such  covenant  is  amended  in  a  manner  satisfactory  to  the  Company  and  the  Required  Lenders.  Notwithstanding  any  other  provision  contained  herein, all terms of an accounting or financial nature used herein shall be construed, and  all, computations of amounts and ratios referred to herein shall be made without giving  effect  to  (i)  any  election  under Accounting  Standards  Codification  825-10-25  (or  any  other  Accounting  Standards  Codification  or  Financial  Accounting  Standard  having  a  similar result or effect) to value any Indebtedness or other liabilities of the Company or  any  Subsidiary  at  “fair value” as  defined  therein,  (ii)  any  treatment  of  Indebtedness  in  respect of convertible debt instruments under Accounting Standards Codification 470-20  (or  any  other  Accounting  Standards  Codification  or  Financial  Accounting  Standard  having  a  similar  result  or  effect)  to  value  any  such  Indebtedness in a reduced or  bifurcated manner as described therein, and such Indebtedness shall at all times be valued  at the full stated principal amount thereof, and (iii) any treatment of any lease (or similar  arrangement conveying the right to use) as a capital lease where such lease (or similar  arrangement) would not have been required to be so treated under GAAP as in effect on  December  31,  2017,  as  a  result  of  the  effectiveness  of  the  Financial  Accounting  Standards  Board  Accounting  Standards  Codification  842  (or  any  other  Accounting  Standards Codification having a similar result or effect) (and related interpretations).               (b)  The headings, subheadings and table of contents used herein or in any  other Loan Document are solely for convenience of reference and shall not constitute a                                                                                 [[3883081]]  

 

                                                                      33    part of any such document or affect the meaning, construction or effect of any provision   thereof.                (c)  Except  as  otherwise  expressly  provided,  references  in  any Loan   Document  to  articles,  sections, paragraphs,  clauses,  annexes,  appendices,  exhibits  and   schedules  are  references  to  articles,  sections,  paragraphs,  clauses,  annexes,  appendices,   exhibits and schedules in or to such Loan Document.                (d)  All definitions set forth herein or in any other Loan Document shall   apply to the singular as well as the plural form of such defined term, and all references to   the masculine gender shall include reference to the feminine or neuter gender, and vice   versa, as the context may require.                (e)  When  used  herein  or  in  any  other  Loan  Document,  words  such as   “hereunder”, “hereto”, “hereof” and “herein” and other words of like import shall, unless   the context clearly indicates to the contrary, refer to the whole of the applicable document   and not to any particular article, section, subsection, paragraph or clause thereof.                (f)  References  to  “including”  mean  including  without  limiting the   generality  of  any  description  preceding  such  term,  and  for  purposes  hereof  the  rule  of   ejusdem generis  shall  not  be  applicable  to  limit  a  general  statement,  followed  by  or   referable  to an  enumeration  of  specific  matters, to  matters  similar  to  those  specifically   mentioned.                (g)  The words “asset” and “property” shall be construed to have the same   meaning  and  effect  and  to  refer  to  any  and  all  tangible  and  intangible  assets  and   properties, including cash, securities, accounts and contract rights. The word “will” shall   be construed to have the same meaning and effect as the word “shall”.                (h)  Whenever interest rates or fees are established in whole or in part by   reference to a numerical percentage expressed as “%”, such arithmetic expression shall   be interpreted in accordance with the convention that 1% = 100 basis points.                (i)  Each  of  the  parties  to  the  Loan  Documents  and  their  counsel  have   reviewed and revised, or requested (or had the opportunity to request) revisions to, the   Loan Documents, and any rule of construction that ambiguities are to be resolved against   the drafting party shall be inapplicable in the construing and interpretation of the Loan  Documents and all exhibits, schedules and appendices thereto.               (j)  Any reference to an officer of any Borrower or any other Person by  reference to the title of such officer shall be deemed to refer to each other officer of such  Person, however titled, exercising the same or substantially similar functions.               (k)  Unless the context otherwise requires, any definition of or reference to  any agreement, instrument or other document herein (including to any Loan Document)  shall be construed as referring to such agreement or other document as from time to time  amended,  restated,  supplemented  or  otherwise  modified  (subject to  any  restrictions  on  such amendments, restatements, supplements or modifications set forth herein).                                                                                [[3883081]]  

 

                                                                      34                (l)  Unless the context otherwise requires, any definition of or reference to   any statute, rule or regulation shall be construed as referring hereto as from time to time   amended, supplemented or otherwise modified (including by succession of comparable   successor laws).                (m)  Unless  the  context  otherwise  requires,  any  reference  herein  to  any   Person shall be construed to include such Person’s successors and assigns (subject to any   restrictions  on  assignment  set  forth  herein)  and,  in  the  case  of  any  Governmental   Authority,  any  other  Governmental  Authority  that  shall  have  succeeded  to  any  or  all  functions thereof.               SECTION 1.04.  Currency  Translation.   The  Administrative  Agent shall   determine the US Dollar Equivalent of any Borrowing denominated in a currency other   than US Dollars (a) as of the date of the commencement of the initial  Interest  Period   therefor (or, in the case of a Swing Line Loan, as of the date on which such Swing Line   Loan is made) and (b) as of the earlier of (i) the last Business Day of each subsequent   calendar  quarter  and  (ii)  the  date  of  the  commencement  of  each subsequent  Interest   Period therefor, in each case using the Exchange Rate for such currency in relation to US   Dollars in effect on the date that is three Business Days prior to the date on which such   calculation shall be made, and each such amount shall be the US Dollar Equivalent of   such Borrowing until the next required calculation thereof pursuant to this sentence.  The   Administrative Agent shall determine the US Dollar Equivalent of any Letter of Credit   denominated in a currency other than US Dollars as of the date such Letter of Credit is   issued,  amended  to  increase  its  face  amount,  extended  or  renewed  and  as  of  the  last   Business Day of each subsequent calendar quarter, in each case using the Exchange Rate   for such currency in relation to US Dollars in effect on the date that is three Business   Days prior to the date on which such Letter of Credit is issued, amended to increase its   face amount, extended or renewed and as of the last Business Day of such subsequent   calendar  quarter,  as  the  case  may  be,  and  each  such  amount  shall  be  the  US  Dollar   Equivalent of such Letter of Credit until the next required calculation thereof pursuant to   this sentence.  The Administrative Agent shall notify the Company and the Lenders of   each calculation of the US Dollar Equivalent of each Borrowing or Letter of Credit.                SECTION 1.05.  Change  of  Currency.   (a)     Each  obligation  of  the   Borrowers to make a payment denominated in the national currency unit of any member   state  of  the  European  Union  that  adopts  the  Euro  as  its  lawful currency  after  the  date   hereof shall be redenominated into Euro at the time of such adoption (in accordance with   the EMU Legislation).  If, in relation to the currency of any such member state, the basis   of  accrual  of  interest  expressed  in  this  Agreement  in  respect  of  that  currency  shall  be   inconsistent  with  any  convention or  practice  in  the  Relevant  Interbank  Market  for  the   basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced   by  such  convention  or  practice  with effect from the date on which  such  member  state  adopts  the  Euro  as  its  lawful  currency;  provided  that  if  any  LIBOR  Borrowing  in  the   currency  of  such  member  state  is outstanding  immediately  prior to  such  date,  such   replacement  shall  take  effect, with  respect  to  such  Borrowing, at  the  end  of  the  then  current Interest Period.                                                                                 [[3883081]]  

 

                                                                      35                (b)  Each provision of this Agreement shall be subject to such reasonable   changes of construction as the Administrative Agent may from time to time specify to be  appropriate  to  reflect  the  adoption  of  the  Euro  by  any  member  state  of  the  European  Union  and  any  relevant  market  conventions  or  practices  relating  to  the  Euro.   Each  provision  of  this  Agreement  also  shall  be  subject  to  such  reasonable  changes  of  construction as the Administrative Agent may from time to time specify to be appropriate  to reflect a change in currency of any other country and any relevant market conventions  or practices relating to the change in currency.               SECTION 1.06.  Interest Rates; LIBOR Notification.  The interest rate on   LIBOR Loans is determined by reference to the LIBO Rate, which is derived from the   London  interbank  offered  rate.   The  London  interbank  offered  rate  is  intended  to   represent  the  rate  at  which  contributing  banks  may  obtain  short-term  borrowings  from   each  other  in  the  London  interbank  market.   In  July  2017,  the  UK  Financial  Conduct   Authority announced that, after the end of 2021, it would no longer persuade or compel   contributing  banks  to  make  rate  submissions  to  the  ICE  Benchmark  Administration   (together  with  any  successor  to  the  ICE  Benchmark  Administrator,  the  “IBA”)  for   purposes of the IBA setting the London interbank offered rate.  As a result, it is possible   that commencing in 2022, the London interbank offered rate may no longer be available   or may no longer be deemed an appropriate reference rate upon which to determine the   interest  rate  on  LIBOR  Loans.   In  light  of  this  eventuality,  public  and  private  sector   industry initiatives are currently underway to identify new or alternative reference rates to   be  used  in  place  of  the  London  interbank  offered  rate.   In  the event  that  the  London   interbank offered rate is no longer available or in certain other circumstances as set forth   in Section 3.02(b), Section 3.02(b) provides a mechanism for determining an alternative   rate of interest.  The Administrative Agent will notify the Company, pursuant to Section   3.02,  in  advance  of  any  change  to the  reference  rate  upon  which  the  interest  rate  on   LIBOR Loans is based.  However, the Administrative Agent does not warrant or accept   any responsibility for, and shall not have any liability with respect to, the administration,   submission or any other matter related to the London interbank offered rate or other rates   in  the  definition  of  Screen  Rate or  with  respect  to  any  alternative  or  successor  rate   thereto,  or  replacement  rate  thereof,  including  without  limitation,  whether  the   composition or characteristics of any such alternative, successor or replacement reference   rate, as it may or may not be adjusted pursuant to Section 3.02(b), will be similar to, or   produce the  same  value  or  economic  equivalence  of,  the  LIBO  Rate  or  have the  same   volume or liquidity as did the London interbank offered rate prior to its discontinuance or   unavailability.                                  ARTICLE II                                                                        The Credits                SECTION 2.01.  Commitments.   (a)  Global  Tranche  Commitments.    Subject to the terms and conditions set forth herein, each Global Tranche Lender agrees   to make Global Tranche Revolving Loans (i) denominated in US Dollars to the Company   or any Borrowing Subsidiary that is a Domestic Subsidiary and (ii) denominated in any                                                                                [[3883081]]  

 

                                                                      36    Alternative  Currency  to  the  Company  or  any  Borrowing  Subsidiary  that  is  a  Foreign   Subsidiary, from time to time during the Availability Period in principal amounts at any  time  outstanding  that  will  not  (after  giving  effect  to  any  prepayment  of  any  Global  Tranche Borrowing made with the proceeds of such Loans on the same Business Day)  result  in  (i) the  Aggregate  Global  Tranche  Revolving  Credit  Exposure  exceeding  the  aggregate  Global  Tranche  Commitments,  (ii) the  Global  Tranche  Revolving  Credit  Exposure of any Global Tranche Lender exceeding its Global Tranche Commitment or   (iii) the  Aggregate  Revolving  Credit  Exposure  exceeding  the  aggregate  Commitments.    Within the foregoing limits and subject to the terms and conditions set forth herein, the   Global Tranche Borrowers may borrow, prepay and reborrow Global Tranche Revolving   Loans.                (b)  US  Tranche  Commitments.   Subject  to  the  terms  and  conditions  set   forth  herein,  each  US  Tranche  Lender  agrees  to  make  US  Tranche Revolving  Loans   denominated in US Dollars or Alternative Currencies to the US Tranche Borrowers from   time to time during the Availability Period in principal amounts at any time outstanding   that will not (after giving effect to any prepayment of any US Tranche Borrowing made   with the proceeds of such Loans on the same Business Day) result in (i) the Aggregate   US  Tranche  Revolving  Credit  Exposure  exceeding  the  aggregate  US  Tranche   Commitments,  (ii)  the  US  Tranche  Revolving  Credit  Exposure  of  any  US  Tranche   Lender exceeding its US Tranche Commitment or (iii) the Aggregate Revolving Credit   Exposure  exceeding  the  aggregate  Commitments.   Within  the  foregoing  limits  and   subject  to  the  terms  and  conditions  set  forth  herein,  the  US  Tranche  Borrowers  may   borrow, prepay and reborrow US Tranche Revolving Loans.                SECTION 2.02.  Loans  and  Borrowings.   (a)  Each  Global  Tranche   Revolving  Loan  shall  be  made  as  part  of  a  Global  Tranche  Borrowing  consisting  of   Global  Tranche  Revolving  Loans  of  the  same  Type  and  currency  made  by  the  Global   Tranche  Lenders  ratably  in  accordance  with  their  respective  Global  Tranche   Commitments.  Each US Tranche Revolving Loan shall be made as part of a US Tranche   Borrowing consisting of US Tranche Revolving Loans of the same Type and currency   made by the US Tranche Lenders ratably in accordance with their respective US Tranche   Commitments.  Each Swing Line Loan shall be made in accordance with the procedures   set  forth in Section 2.04.   The  failure  of  any  Lender  to  make  any  Loan  required  to  be   made by it shall not relieve any other Lender of its obligations hereunder; provided that   the Commitments of the Lenders are several and no Lender shall be responsible for any   other Lender’s failure to make Loans as required.                (b)  Subject  to  Sections 3.02  and  3.03,  (i)  each  Revolving  Borrowing   denominated in US Dollars shall be comprised entirely of (A) LIBOR Loans or (B) ABR   Loans,  (ii) each  Revolving  Borrowing  denominated  in  any  Alternative  Currency  other   than Euros or Canadian Dollars shall be comprised entirely of LIBOR Loans, (iii) each   Revolving  Borrowing  denominated  in  Euros  shall  be  comprised  entirely  of  EURIBOR   Loans,  (iv)  each  Revolving  Borrowing  denominated  in  Canadian  Dollars  shall  be   comprised  entirely  of  CDOR  Loans,  (v)  each  Swing  Line  Loan  denominated  in  US   Dollars shall be an ABR Loan and (vi) each Swing Line Loan denominated in Euro shall   be  an  Euro  Overnight  Rate  Loan.   Each  Lender  at  its  option  may make  any  Loan  by                                                                                 [[3883081]]  

 

                                                                      37    causing any domestic or foreign branch or Affiliate of such Lender to make such Loan;   provided  that  any  exercise  of  such  option  (x)  shall  not  affect the  obligation  of  the   applicable Borrower to repay such Loan in accordance with the terms of this Agreement   and (y) shall be subject to Section 3.06.                (c)  At  the  commencement  of  each  Interest  Period  for  any  LIBOR,   EURIBOR or CDOR Borrowing, such Borrowing shall be in an aggregate amount that is   an integral multiple of the applicable Borrowing Multiple and not less than the applicable   Borrowing Minimum;  provided that any LIBOR, EURIBOR or CDOR Borrowing  that   results  from  a  continuation  of  an  outstanding  Borrowing  of  such  Type  may  be  in  an   aggregate  amount  that  is  equal  to  such  outstanding  Borrowing.  At  the  time  that  each   ABR Borrowing (other than a Swing Line Loan) is made, such Borrowing shall be in an  aggregate  amount  that  is  an  integral  multiple  of  US$1,000,000  and  not  less  than  US$5,000,000.  Each Swing Line Loan denominated in US Dollars shall be in an amount  that is an integral multiple of US$100,000 and not less than US$500,000.  Each Swing  Line  Loan  denominated  in  Euro  shall  be  in  an  amount  that  is  an integral  multiple  of  €$100,000  and  not  less  than  €$500,000.  Notwithstanding  the  foregoing,  an  ABR  Borrowing (including a Swing Line Loan denominated in US Dollars) of any Class may  be in an aggregate amount that is equal to the entire unused balance of the Commitments  of such Class or that is required to finance the reimbursement of an L/C Disbursement as  contemplated by Section 2.05(e).  Borrowings of more than one Type and Class may be  outstanding at the same time; provided that there shall not at any time be more than a   total of 20 LIBOR, EURIBOR and CDOR Borrowings outstanding.               (d)  Notwithstanding any other provision of this Agreement, no Borrower  shall  be  entitled  to  request,  or  to  elect  to  convert  or  continue,  any  Borrowing  if  the  Interest  Period  requested  with  respect  thereto  would  end  after the  Stated  Termination  Date.               SECTION 2.03.  Requests  for  Borrowings.   To  request  a  Revolving   Borrowing for any Borrower, the Company shall submit to the Administrative Agent, by   fax  or  email  (in  .pdf  or  .tif  format),  a  completed  Borrowing  Notice  signed  by  an   Authorized Representative (a) in the case of a LIBOR, EURIBOR or CDOR Borrowing,  not later than 1:00 p.m., Local Time, three Business Days before the date of the proposed  Borrowing  and  (b) in  the  case  of  an  ABR  Borrowing,  not  later  than  12:00  noon,  New  York City time, on the date of the proposed Borrowing.  Each such Borrowing Notice  shall specify the following information in compliance with Section 2.02:               (i) the applicable Borrower in respect of such Borrowing;               (ii) whether such Borrowing is to be a US Tranche Borrowing or a Global         Tranche Borrowing;                (iii) the Type of such Borrowing;                (iv) the currency and the principal amount of such Borrowing;                (v) the date of such Borrowing, which shall be a Business Day;                                                                                [[3883081]]  

 

                                                                      38                (vi) in the case of a LIBOR, EURIBOR or CDOR Borrowing, the initial         Interest Period to be applicable thereto, which shall be a period contemplated by         the definition of the term “Interest Period”;                (vii) the location and number of the relevant Borrower’s account to which         funds  are  to  be  disbursed  or,  in  the  case  of  any  ABR  Revolving Borrowing         requested to finance the reimbursement of an L/C Disbursement as contemplated         by  Section  2.05(e),  the  identity  of  the  L/C  Issuer  that  made  such  L/C         Disbursement; and                (viii) in the case of a Borrowing by a Foreign Borrowing Subsidiary, the         jurisdiction from which payments of the principal and interest on such Borrowing         will be made.                If no election as to the currency of a Revolving Borrowing is specified,   then the requested Borrowing shall be denominated in US Dollars.  If no election as to   the Type of Revolving Borrowing is specified, then the requested Borrowing shall be an   ABR Borrowing if denominated in US Dollars, a EURIBOR Borrowing if denominated   in  Euros,  a  CDOR  Borrowing  if  denominated  in  Canadian  Dollars  or  a  LIBOR   Borrowing  if  denominated  in  an  Alternative  Currency  other  than Euro  or  Canadian   Dollars.  If no election is specified as to the Class of a Revolving Borrowing with respect   to which the applicable Borrower is both a US Tranche Borrower and a Global Tranche   Borrower, then the requested Borrowing shall be a US Tranche Borrowing (to the extent   unused US Tranche Commitments are available in the amount of such Borrowing) and   otherwise a Global Tranche Borrowing.  If no Interest Period is specified with respect to   any  requested  LIBOR,  EURIBOR  or  CDOR  Borrowing,  then  the  applicable  Borrower  shall be deemed to have selected an Interest Period of one month’s duration.  Promptly  following  receipt  of  a  Borrowing  Notice  in  accordance  with  this  Section  (but  in  any  event, if received not later than 3:00 p.m., Local Time, on the same Business Day such  Borrowing  Notice  is  received  by  the  Administrative  Agent),  the Administrative  Agent  shall advise each Lender of the applicable Class of the details thereof and of the amount  of such Lender’s Loan to be made as part of the requested Revolving Borrowing.                SECTION 2.04.  Swing  Line  Loans.   (a)  Subject  to  the  terms  and   conditions  set  forth  herein,  each  Swing  Line  Lender  agrees  to  make  Global  Tranche   Swing Line Loans and US Tranche Swing Line Loans (i) denominated in US Dollars to   the  Company  or  any  Borrowing  Subsidiary  that  is  a  Domestic  Subsidiary  and  (ii)   denominated in Euro to the Company or any Borrowing Subsidiary, from time to time   during the Availability Period, in an aggregate principal amount at any time outstanding   that will not result in (A) the sum of the US Dollar Equivalents of the outstanding Swing   Line Loans exceeding US$100,000,000, (B) the sum of the US Dollar Equivalents of the   outstanding Swing Line Loans made by any Swing Line Lender exceeding its Swing Line  Commitment, (C) the Aggregate Global Tranche Revolving Credit Exposure exceeding  the aggregate Global Tranche Commitments, (D) the Global Tranche Revolving Credit  Exposure of any Lender (including a Swing Line Lender) exceeding its Global Tranche  Commitment, (E) the Aggregate US Tranche Revolving Credit Exposure exceeding the  aggregate US Tranche Commitments, (F) the US Tranche Revolving Credit Exposure of                                                                                 [[3883081]]  

 

                                                                      39    any Lender (including a Swing Line Lender) exceeding its US Tranche Commitment and   (G)  in  the  event  the  Stated  Termination  Date  shall  have  been  extended  as  provided  in   Section 2.16, the Swing Line Exposure of any Class attributable to Swing Line Loans of   such Class maturing after any Existing Stated Termination Date and the L/C Exposure of   such  Class  attributable  to  Letters  of  Credit  of  such  Class  expiring  after  such  Existing   Stated Termination Date exceeding the aggregate Commitments of such Class that shall   have been extended to a date after the latest maturity date of such Swing Line Loans of   such Class and the latest expiration date of such Letters of Credit of such Class; provided   that no Swing Line Lender shall be required to make a Swing Line Loan to refinance an   outstanding Swing Line Loan.  Within the foregoing limits and subject to the terms and   conditions  set  forth  herein,  the  Company  and  the  Borrowing  Subsidiaries may borrow,   prepay and reborrow Swing Line Loans.  The failure of any Swing Line Lender to make   any Swing Line Loan required to be made by it shall not relieve any other Swing Line   Lender of its obligations hereunder; provided that the Swing Line Commitment of each   Swing  Line  Lender  is  several  and  no  Swing  Line  Lender  shall  be responsible  for  any   other Swing Line Lender’s failure to make Swing Line Loans as required.               (b)  To  request  a  Swing  Line  Loan,  the  Company  shall  submit  to the   Administrative  Agent,  by  fax  or email  (in  .pdf  or  .tif  format),  a  completed  Borrowing   Notice signed by an Authorized Representative not later than 2:00 p.m., Local Time, on  the  day  of  such  proposed  Swing  Line  Loan.   Each  such  Borrowing Notice  shall  be  irrevocable and shall specify (i) the requested date (which shall be a Business Day), (ii)  the currency and principal amount of the requested Swing Line Loan, (iii) whether such  Swing Line Loan is to be a Global Tranche Swing Line Loan or a US Tranche Swing   Line Loan, (iv) the applicable Borrower and the applicable Swing Line Lender(s) with   respect to such Swing Line Loan, (v) the location and number of the relevant Borrower’s   account  to  which  funds  are  to  be  disbursed  or,  in  the  case  of  any  Swing  Line  Loan   requested  to  finance  the  reimbursement  of  an  L/C  Disbursement  as  contemplated  by   Section 2.05(e), the identity of the L/C Issuer that made such L/C Disbursement and (vi)   in  the  case  of  a  Swing  Line  Loan  to  be  made  to  a  Foreign  Borrowing  Subsidiary,  the   jurisdiction from which payments of the principal and interest on such Swing Line Loan   will  be  made.   The  Administrative  Agent  will  promptly  advise  each  applicable  Swing   Line Lender of any such notice received by it.  Each applicable Swing Line Lender shall  make  its  Swing  Line  Loan  available  to  the  applicable  Borrower  by  remittance  of  the  amount thereof to the account so designated (or, in the case of a Swing Line Loan made  to finance the reimbursement of an L/C Disbursement as provided in Section 2.05(e), by  remittance to the applicable L/C Issuer) by 3:00 p.m., Local Time, on the requested date  of such Swing Line Loan.               (c)  Each  Swing  Line  Lender  may  by  written  notice  given  to  the  Administrative Agent not later than 12:00 noon, New York City time, on any Business  Day (i) require the Global Tranche Lenders to acquire participations on such Business  Day  in  all  or  a  portion  of  the  Global  Tranche  Swing  Line  Loans outstanding  and  (ii)  require the US Tranche Lenders to acquire participations on such Business Day in all or a  portion of the US Tranche Swing Line Loans outstanding.  Such notice shall specify the  amounts and currencies of the Swing Line Loans in which the Global Tranche Lenders or  US Tranche Lenders, as the case may be, will participate.  Promptly upon receipt of such                                                                                [[3883081]]  

 

                                                                     40   notice, the Administrative Agent will give notice thereof to each Global Tranche Lender  or  US  Tranche  Lender,  as  the  case  may  be,  specifying  in  such  notice  such  Lender’s  Global  Tranche  Percentage  or  US  Tranche  Percentage  of  such  Swing  Line  Loan  or  Loans.   Each  Lender  of  the  applicable  Class  hereby  unconditionally  and  irrevocably  agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for  the account of such Swing Line Lender, such Lender’s Global Tranche Percentage or US  Tranche Percentage, as the case may be, of each such Swing Line Loan in the currency of  such Loan.  Each Lender acknowledges and agrees that, in making any Swing Line Loan,  such  Swing  Line  Lender  shall  be  entitled  to  rely,  and  shall  not  incur  any  liability  for  relying,  upon  the  representations  of  the  Company  made  in  the  applicable  Borrowing  Notice or deemed made pursuant to Section 4.02, unless, at least one Business Day prior  to the time such Swing Line Loan was made, the Required Lenders shall have notified  such Swing Line Lender (with a copy to the Administrative Agent) in writing that, as a  result of one or more events or circumstances described in such notice, one or more of the  conditions precedent set forth in Section 4.02(b) or 4.02(c) would not be satisfied if such  Swing Line Loan were then made (it being understood and agreed that, in the event such  Swing  Line  Lender  shall  have  received  any  such  notice,  it  shall  have  no  obligation  to  make  any  Swing  Line  Loan  until  and  unless  it  shall  be  satisfied  that  the  events  and  circumstances  described  in  such  notice  shall  have  been  cured  or  otherwise  shall  have  ceased  to  exist).   Each  Lender  of  any  Class  further  acknowledges  and  agrees  that  its  obligation to acquire participations in Swing Line Loans of such Class pursuant to this  paragraph  is  absolute  and  unconditional and shall not be affected by any circumstance  whatsoever, including the occurrence and continuance of a Default or Event of Default or  reduction or termination of the Commitments, and that each such payment shall be made  without any offset, abatement, withholding or reduction whatsoever.  Each Lender shall  comply  with  its  obligations  under  this  paragraph  by  wire  transfer  of  immediately  available funds promptly, in the same manner as provided in Section 2.06 with respect to  Loans  made  by  such  Lender  (and  Section  2.06  shall  apply,  mutatis  mutandis,  to  the  payment obligations of the Lenders pursuant to this paragraph), and the Administrative  Agent shall promptly pay to such Swing Line Lender the amounts so received by them  from the applicable Lenders.  The Administrative Agent shall notify the Company of any  participations in any Swing Line Loan acquired pursuant to this paragraph, and thereafter  payments in respect of such Swing Line Loan shall be made to the Administrative Agent  and not to such Swing Line Lender.  Any amounts received by such Swing Line Lender  from or on behalf of the Company or any Borrowing Subsidiary in respect of a Swing  Line  Loan  after  receipt  by  such  Swing  Line  Lender  of  the  proceeds  of  a  sale  of  participations therein shall be promptly remitted to the Administrative Agent; any such  amounts  received  by  the  Administrative  Agent  shall  be  promptly remitted  by  the  Administrative  Agent  to  the  applicable  Lenders  that  shall  have made  their  payments  pursuant to this paragraph and to such Swing Line Lender, as their interests may appear;  provided that any such payment so remitted shall be repaid to such Swing Line Lender or  to the Administrative Agent, as applicable, if and to the extent such payment is required  to  be  refunded  to  the  Company  or  any  Borrowing  Subsidiary  for  any  reason.   The  purchase  of  participations  in  a  Swing  Line  Loan  pursuant  to  this  paragraph  shall  not  relieve the Company or any Borrowing Subsidiary of any default in the payment thereof.                                                                                                 [[3883081]]  

 

                                                                      41                SECTION 2.05.  Letters of Credit.  (a)  General.  Subject to the terms and   conditions set forth herein, the Company (i) on behalf of itself or any other US Tranche   Borrower,  may  request  the  issuance,  amendment,  renewal  or  extension  of  US  Tranche   Letters of Credit and (ii) on behalf of itself or any other Global Tranche Borrower, may   request  the  issuance,  amendment,  renewal  or  extension  of  Global Tranche Letters of   Credit, in each case for its own account, the account of the applicable Borrower or the   account  of  any  Subsidiary  (provided  that  the  Company  shall  be  a  co-applicant  and   co-obligor with respect to each Letter of Credit issued for the account of any Subsidiary   that is not a Borrower), in a form reasonably acceptable to the Administrative Agent and   the  applicable  L/C  Issuer,  at  any  time  and  from  time  to  time  during  the  Availability   Period.  Notwithstanding anything contained in any letter of credit application furnished   to any L/C Issuer in connection with the issuance of any Letter of Credit, in the event of   any inconsistency between the terms and conditions of this Agreement and the terms and   conditions of any form of letter of credit application or other agreement submitted by a  Borrower to, or entered into by a Borrower with, an L/C Issuer relating to any Letter of  Credit,  the  terms  and  conditions  of  this  Agreement  shall  control.   Existing  Letters  of  Credit will, for all purposes of this Agreement (including paragraphs (d) and (e) of this  Section),  be  deemed  to  have  been  issued  hereunder  on  the  Closing  Date  as  Global  Tranche Letters of Credit, and will, for all purposes of this Agreement, constitute Letters  of Credit.  The Company unconditionally and irrevocably agrees that, in connection with  any Letter of Credit issued for the account of any Subsidiary that is not a Borrower, the  Company  will  be  fully  responsible  for  the  reimbursement  of  L/C Disbursements,  the  payment  of  interest  thereon  and  the  payment  of  fees  due  under  Section 2.11(b)  to  the  same extent as if it were the sole account party in respect of such Letter of Credit (the  Company hereby irrevocably waiving any defenses that might otherwise be available to it  as a guarantor of the obligations of such a Subsidiary that shall be an account party in  respect of any such Letter of Credit).               (b)  Notice  of  Issuance,  Amendment,  Renewal,  Extension;  Certain   Conditions.  (i) To request the issuance of a Letter of Credit or the amendment, renewal   or  extension  of  an  outstanding  Letter  of  Credit  (other  than  an automatic  renewal   permitted pursuant to paragraph (c) of this Section), the Company shall submit, by fax or   email (in .pdf or .tif format), to the applicable L/C Issuer and the Administrative Agent   not later than 11:00 a.m., Local Time, at least three Business Days (or five Business Days   for  Letters  of  Credit  denominated  in  an  Alternative  Currency), in  advance  of  the   requested date of issuance, amendment, renewal or extension or, in either case, such later   time as the applicable L/C Issuer shall agree, a notice requesting the issuance of a Letter   of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and   specifying the Borrower on whose behalf such Letter of Credit is requested, the Class of   such Letter of Credit, the date of issuance, amendment, renewal or extension (which shall   be  a  Business  Day),  the  date  on which  such  Letter  of  Credit  is to  expire  (which  shall  comply  with  paragraph (c)  of  this  Section),  the  amount  of  such Letter  of  Credit,  the  currency in which such Letter of Credit is to be denominated (which shall be US Dollars  or any Alternative Currency), the name and address of the beneficiary thereof and such  other  information  as  shall  be  necessary  to  enable  the  applicable  L/C  Issuer to  prepare,  amend,  renew  or  extend  such  Letter  of  Credit.   If  requested  by such  L/C  Issuer,  the                                                                                 [[3883081]]  

 

                                                                     42   applicable Borrower also shall submit a letter of credit application on such L/C Issuer’s  standard form in connection with any request for a Letter of Credit.               (ii) A US Tranche Letter of Credit shall be issued, amended, renewed or        extended  only  if,  after  giving  effect  to  such  issuance,  amendment,  renewal  or        extension, (A) the L/C Exposure shall not exceed US$50,000,000, (B) the amount        of the L/C Exposure attributable to Letters of Credit issued by an L/C Issuer will        not exceed its L/C Commitment, (C) the Aggregate US Tranche Revolving Credit        Exposure shall not exceed the aggregate US Tranche Commitments, (D) no US        Tranche Lender will have a US Tranche Revolving Credit Exposure greater than        its  US  Tranche  Commitment  and  (E)  in  the  event  the  Stated  Termination  Date        shall have been extended as provided in Section 2.16, the US Tranche Swing Line        Exposure  attributable  to  US  Tranche  Swing  Line  Loans  maturing  after  any        Existing Stated Termination Date and the US Tranche L/C Exposure attributable        to US Tranche Letters of Credit expiring after such Existing Stated Termination        Date will not exceed the aggregate US Tranche Commitments that shall have been        extended to a date after the latest maturity date of such US Tranche Swing Line        Loans and the latest expiration date of such US Tranche Letters of Credit.               (iii) A Global Tranche Letter of Credit shall be issued, amended, renewed        or extended only if, after giving effect to such issuance, amendment, renewal or        extension, after giving effect to such issuance, amendment, renewal or extension,        (A) the L/C Exposure shall not exceed US$50,000,000, (B) the amount of the L/C        Exposure attributable to Letters of Credit issued by an L/C Issuer will not exceed        its  L/C  Commitment,  (C)  the  Aggregate  Global  Tranche  Credit  Revolving        Exposure  shall  not  exceed  the  aggregate  Global  Tranche  Commitments,  (D)  no        Global  Tranche  Lender will  have  a Global  Tranche  Revolving  Credit  Exposure        greater  than  its  Global  Tranche  Commitment  and  (E)  in  the  event the Stated        Termination  Date  shall  have  been  extended  as  provided  in  Section  2.16,  the        Global Tranche Swing Line Exposure attributable to Global Tranche Swing Line        Loans  maturing  after  any  Existing  Stated  Termination  Date  and  the  Global        Tranche L/C Exposure attributable to Global Tranche Letters of Credit expiring        after such Existing Stated Termination Date will not exceed the aggregate Global        Tranche  Commitments  that  shall  have  been  extended  to  a  date  after the latest        maturity date of such Global Tranche Swing Line Loans and the latest expiration        date of such Global Tranche Letters of Credit.               (iv) No L/C Issuer shall be under any obligation to issue (but may issue)        any Letter of Credit if (A) any order, judgment or decree of any Governmental        Authority  or  arbitrator  shall  by  its  terms  purport  to  enjoin  or  restrain  such  L/C        Issuer  from  issuing  such  Letter  of  Credit,  (B)  any  law  applicable to such L/C        Issuer or any request or directive (whether or not having the force of law) from        any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit,        or request that such L/C Issuer refrain from, the issuance of letters  of  credit        generally  or  such  Letter  of  Credit  in  particular  or  shall  impose  upon  such  L/C        Issuer  with  respect  to  such  Letter  of  Credit  any  restriction,  reserve  or  capital        requirement (for which such L/C Issuer is not otherwise compensated hereunder)                                                                                                 [[3883081]]  

 

                                                                      43          not in effect on the Closing Date and which such L/C Issuer in good faith deems         material, (C) shall impose upon such L/C Issuer any unreimbursed loss, cost or         expense which was not applicable on the Closing Date and which such L/C Issuer         in  good  faith  deems  material,  (D)  the  issuance  of  such  Letter  of  Credit  would         violate  one  or  more  policies  of  such  L/C  Issuer  applicable  to  letters  of  credit         generally  or  (E) such  Letter  of  Credit  shall  be  a  trade  or  commercial  Letter  of         Credit.                (c)  Expiration Date.  Each Letter of Credit will expire at or prior to the   close of business on the earlier of (i) the date one year after the date of the issuance of   such Letter of Credit (or, in the case of any renewal or extension thereof, one year after   such renewal or extension) and (ii) the date that is five Business Days prior to the Stated   Termination  Date  (giving  effect  to  any  extensions  thereof  pursuant  to  Section  2.16);   provided that any Letter of Credit may contain customary automatic renewal provisions   agreed  upon  by  the  Company  and  the  applicable  L/C  Issuer  pursuant  to  which  the   expiration date of such Letter of Credit shall automatically be extended for a period of up   to 12 months (but not to a date later than the date set forth in clause (ii) above), subject to   a  right  on  the  part  of  such  L/C Issuer  to  prevent  any  such  renewal from occurring by   giving notice to the beneficiary at least a specified time (as agreed upon by the Company   and the applicable L/C Issuer) in advance of any such renewal.                  (d)  Participations.  (i) By the issuance of a US Tranche Letter of Credit   (or an amendment to a US Tranche Letter of Credit increasing the amount thereof) and   without  any  further  action  on  the part  of  the  applicable  L/C  Issuer  or  the  US  Tranche  Lenders, such L/C Issuer hereby grants to each US Tranche Lender, and each US Tranche  Lender hereby acquires from such L/C Issuer, a participation in such US Tranche Letter  of  Credit  equal  to  such  Lender’s  US  Tranche  Percentage  of  the  aggregate  amount  available to be drawn under such US Tranche Letter of Credit.  In consideration and in  furtherance  of  the  foregoing,  each  US  Tranche  Lender  hereby  absolutely  and  unconditionally  agrees  to  pay  to the  Administrative  Agent,  for the  account  of  the  applicable  L/C  Issuer,  such  Lender’s  US  Tranche  Percentage  of  each  US  Tranche  L/C  Disbursement made by such L/C Issuer and not reimbursed by the applicable Borrower  on  the  date  due  as  provided  in paragraph (e)  of  this  Section,  or  of  any  reimbursement   payment  in  respect  of  a  US  Tranche  L/C  Disbursement  required  to  be  refunded  to  the   applicable Borrower for any reason.                (ii) By  the  issuance  of  a  Global  Tranche  Letter  of  Credit  (or  an         amendment to a Global Tranche Letter of Credit increasing the amount thereof)         and  without  any  further  action  on  the  part  of  the  applicable  L/C  Issuer  or  the         Global Tranche Lenders, such L/C Issuer hereby grants to each Global Tranche         Lender, and each Global Tranche Lender hereby acquires from such L/C Issuer, a         participation  in  such  Global  Tranche  Letter  of  Credit  equal  to such  Lender’s         Global Tranche Percentage of the aggregate amount available to be drawn under        such Global Tranche Letter of Credit.  In consideration and in furtherance of the         foregoing,  each  Global  Tranche  Lender  hereby  absolutely  and  unconditionally         agrees to pay to the Administrative Agent, for the account of the applicable L/C         Issuer,  such  Lender’s  Global  Tranche  Percentage  of  each  Global Tranche  L/C                                                                                 [[3883081]]  

 

                                                                     44         Disbursement  made  by  such  L/C  Issuer  and  not  reimbursed  by  the applicable        Borrower on the date due as provided in paragraph (e) of this Section, or of any        reimbursement  payment  in  respect of  a  Global  Tranche  L/C  Disbursement        required to be refunded to the applicable Borrower for any reason.                 (iii) Any  payment  by  the  US  Tranche  Lenders  or  the  Global  Tranche        Lenders, as applicable, in accordance with the foregoing clauses (i) and (ii) shall        be made in the currency of such L/C Disbursement.                 (iv) Each  Lender  acknowledges  and  agrees  that  its  obligation  to  acquire        participations pursuant to this paragraph (d) in respect of US Tranche Letters of        Credit  or  Global  Tranche  Letters  of  Credit,  as  applicable,  is  absolute  and        unconditional  and  shall  not  be  affected  by  any  circumstance  whatsoever,        including  any  amendment,  renewal  or  extension  of  any  Letter  of Credit,  the        occurrence  and  continuance  of  a  Default  or  Event  of  Default,  any  reduction  or        termination of the Commitments, any fluctuation in currency values or any force       majeure or other event that under any rule of law or uniform practices to which        any Letter of Credit is subject (including Section 3.14 of ISP 98 or any successor        publication of the International Chamber of Commerce) permits a drawing to be        made under such Letter of Credit after the expiration thereof or of the applicable        Commitments,  and  that  each  such  payment  shall  be  made  without  any  offset,        abatement,  withholding  or  reduction  whatsoever;  provided  that  on  the  Facility        Termination Date, the Lenders shall cease to have any participation obligations in        respect of any undrawn Letters of Credit that shall have been cash collateralized        or otherwise backstopped as contemplated by the definition of the term “Facility        Termination  Date”.   Each  Lender  further  acknowledges  and  agrees that, in        issuing, amending, renewing or extending any Letter of Credit, the applicable L/C        Issuer shall be entitled to rely, and shall not incur any liability for relying, upon        the  representation  and  warranty  of  the  applicable  Borrower  deemed  made        pursuant to Section 4.02 unless, at least one Business Day prior to the time such        Letter of Credit is issued, amended, renewed or extended (or, in the case of an        automatic renewal permitted pursuant to paragraph (c) of this Section, at least one        Business Day prior to the time by which the election not to extend must be made        by  the  applicable  L/C  Issuer),  a  majority  in  interest  of  the  Lenders  that  would        acquire participations in such Letter of Credit pursuant to this paragraph (d) shall        have notified the applicable L/C Issuer (with a copy to the Administrative Agent)        in writing that, as a result of one or more events or circumstances described in        such notice, one or more of the conditions precedent set forth in Section 4.02(b)        or  4.02(c)  would  not  be  satisfied  if  such  Letter  of  Credit  were  then  issued,        amended, renewed or extended (it being understood and agreed that, in the event        any L/C Issuer shall have received any such notice, it shall have no obligation to        issue,  amend,  renew  or  extend  any  Letter  of  Credit  until  and  unless  it  shall  be        satisfied  that  the  events  and  circumstances  described  in  such  notice  shall  have        been cured or otherwise shall have ceased to exist).               (e)  Reimbursement.  If an L/C Issuer shall make any L/C Disbursement in  respect  of  a  Letter  of  Credit,  the  applicable  Borrower  shall  reimburse  such  L/C                                                                                                 [[3883081]]  

 

                                                                      45    Disbursement by paying to the Administrative Agent an amount in the currency of such   L/C Disbursement equal to such L/C Disbursement not later than 2:00 p.m., Local Time,  on the Business Day immediately following the day on which the applicable Borrower  shall  have  received  notice  of  such  L/C  Disbursement;  provided  that, if such L/C   Disbursement is denominated in US Dollars and is not less than US$1,000,000, subject to   the conditions to borrowing set forth herein, the Company may request (i) in accordance   with Section 2.03 that such payment be financed with an ABR Revolving Borrowing or   (ii) in accordance with Section 2.04 that such payment be financed with a Swing Line   Loan, in each case of the applicable Class and in an equivalent amount and, to the extent   so financed, such Borrower’s obligation to make such payment shall be discharged and   replaced by the resulting ABR Revolving Borrowing or Swing Line Loan, as applicable.   If the applicable Borrower fails to make any such reimbursement payment when due, the  Administrative Agent shall notify each applicable Lender of such L/C Disbursement, the  amount  of  the  payment  then  due  from  such  Borrower  in  respect  thereof  and  such  Lender’s US Tranche Percentage or Global Tranche Percentage, as applicable, thereof.   Promptly  following  receipt  of  such  notice,  each  applicable  Lender  shall  pay  to  the  Administrative Agent on the date such notice is received its US Tranche Percentage or  Global Tranche Percentage, as applicable, of the applicable L/C Disbursement payment  then due from such Borrower in the currency of such L/C Disbursement and in the same  manner  as  provided  in  Section 2.06 with  respect  to  Loans  made  by  such  Lender  (and  Section 2.06  shall  apply,  mutatis  mutandis,  to  the  payment  obligations  of  the  Lenders   pursuant  to  this  paragraph),  and  the  Administrative  Agent  shall promptly pay to the   applicable  L/C  Issuer  the  amounts  so  received  by  it  from  such  Lenders.   Promptly   following receipt by the Administrative Agent of any payment from a Borrower pursuant  to  this  paragraph,  the  Administrative  Agent  shall  distribute  such  payment  to  the  applicable L/C Issuer or, to the extent that Lenders have made payments pursuant to this  paragraph to reimburse such L/C Issuer, then to such Lenders and such L/C Issuer as their  interests  may  appear.   Any  payment  made  by  a  Lender  pursuant  to  this  paragraph  to  reimburse an L/C Issuer for any L/C Disbursement (other than the funding of an ABR  Revolving Loan or a Swing Line Loan as contemplated above) shall not constitute a Loan  and  shall  not  relieve  the  applicable  Borrower  of  its  obligation  to  reimburse  such  L/C  Disbursement.               (f)  Obligations Absolute.  Each  Borrower’s  obligation  to  reimburse L/C   Disbursements as provided in paragraph (e) of this Section is absolute, unconditional and   irrevocable,  and  shall  be  performed  strictly  in  accordance  with the terms of this   Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of   validity  or  enforceability  of  any Letter  of  Credit,  this  Agreement  or  any  other  Loan   Document, or any term or provision herein or therein, (ii) any draft or other document   presented  under  a  Letter  of  Credit  proving  to  be  forged,  fraudulent  or  invalid  in  any   respect or any statement therein being untrue or inaccurate in any respect, (iii) payment   by  any  L/C  Issuer  under  a  Letter of  Credit  against  presentation of a draft or other   document that does not comply with the terms of such Letter of Credit, (iv) any force   majeure  or  other  event  that  under  any  rule  of  law  or  uniform  practices  to  which  any   Letter of Credit is subject (including Section 3.14 of ISP 98 or any successor publication   of the International Chamber of Commerce) permits a drawing to be made under such   Letter of Credit after the stated expiration date thereof or of the applicable Commitments                                                                                [[3883081]]  

 

                                                                      46    or (v) any other event or circumstance whatsoever, whether or not similar to any of the   foregoing, that might, but for the provisions of this Section, constitute a legal or equitable   discharge of, or provide a right of set-off against, such Borrower’s obligations hereunder.   None of the Administrative Agent, the Lenders, the L/C Issuers or any of their Related  Parties shall have any liability or responsibility by reason of or in connection with the  issuance  or  transfer  of  any  Letter  of  Credit  or  any  payment  or failure  to  make  any  payment thereunder (irrespective of any of the circumstances referred to in the preceding  sentence), or any error, omission, interruption, loss or delay in transmission or delivery of  any  draft,  notice  or  other  communication  under  or  relating  to  any  Letter  of  Credit  (including  any  document  required  to  make  a  drawing  thereunder),  any  error  in  interpretation of technical terms or any consequence arising from any other act, failure to  act or other event or circumstance; provided that the foregoing shall not be construed to   excuse any L/C Issuer from liability to a Borrower to the extent of any direct damages (as   opposed  to  special,  indirect,  consequential  or  punitive  damages,  claims  in  respect  of   which are hereby waived by each Borrower to the fullest extent permitted by applicable   law) suffered by such Borrower that are found in a final, non-appealable judgment by a   court of competent jurisdiction to have resulted from such L/C Issuer’s gross negligence   or willful misconduct.  In furtherance of the foregoing and without limiting the generality   thereof, the parties agree that, with respect to documents presented that appear on their   face to be in substantial compliance with the terms of a Letter of Credit, the applicable   L/C  Issuer  may,  in  its  sole  discretion,  either  accept  and  make payment  upon  such   documents  without  responsibility  for  further  investigation,  regardless  of  any  notice  or   information to the contrary, or refuse to accept and make payment upon such documents   if such documents are not in strict compliance with the terms of such Letter of Credit.                (g)  Disbursement Procedures.  The applicable L/C Issuer shall, promptly   following its receipt thereof, examine all documents purporting to represent a demand for   payment under a Letter of Credit.  The applicable L/C Issuer shall promptly notify the   Administrative  Agent  and  the  applicable  Borrower  by  telephone  (confirmed  by  fax  or   email) of such demand for payment and whether such L/C Issuer has made or will make   an L/C Disbursement thereunder; provided that any failure to give or delay in giving such   notice shall not relieve the applicable Borrower of its obligation to reimburse such L/C  Issuer and the applicable Lenders with respect to any such L/C Disbursement.               (h)  Interim Interest.  If an L/C Issuer shall make any L/C Disbursement,   then, unless the applicable Borrower shall reimburse such L/C Disbursement in full on   the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest,   for  each  day  from  and  including  the  date  such  L/C  Disbursement is  made  to  but   excluding the date that the applicable Borrower reimburses such L/C Disbursement, (i) in   the  case  of  an  L/C  Disbursement  made  in  US  Dollars,  at  the  rate  per  annum  then   applicable  to  ABR  Revolving  Loans,  (ii)  in  the  case  of  an  L/C  Disbursement  made  in   Euro, at the rate per annum then applicable to Euro Overnight Rate Loans and (iii) in the   case of an L/C Disbursement  made in  any  Alternative  Currency  (other than Euro), the   Alternative  Currency  Overnight  Rate  plus  the  Applicable  Rate  applicable  to  LIBOR,   EURIBOR or CDOR Revolving Loans, as the case may be, at such time; provided that, if   the applicable Borrower fails to reimburse any L/C Disbursement when due and payable   pursuant  to  paragraph (e)  of  this  Section,  then  Section 2.12(f)  shall  apply.   Interest                                                                                [[3883081]]  

 

                                                                      47    accrued  pursuant  to  this  paragraph  shall  be  paid  to  the  Administrative  Agent,  for  the   account of the applicable L/C Issuer (except that interest accrued on and after the date of   payment by any applicable Lender pursuant to paragraph (e) of this Section to reimburse   such  L/C  Issuer  shall  be  paid  to  the  Administrative  Agent  for  the  account  of  such   Lender), and shall be payable on the date on which the applicable Borrower is required to   reimburse the applicable L/C Disbursement (and thereafter on demand).                (i)  Replacement of an L/C Issuer.  An L/C Issuer may be replaced at any   time by written agreement among the Company, the Administrative Agent, the replaced   L/C Issuer and the successor L/C Issuer that agrees to act in such capacity in accordance   with  Section 2.05(k).   The  Administrative  Agent  shall  notify  the  Lenders  of  any  such   replacement of an L/C Issuer.  At the time any such replacement shall become effective,   the Borrowers shall pay all unpaid fees accrued for the account of the replaced L/C Issuer   pursuant to Section 2.11(b).  From and after the effective date of any such replacement,   (i) the  successor  L/C  Issuer  shall  have  all  the  rights  and  obligations  of  an  L/C  Issuer   under  this  Agreement  with  respect  to  Letters  of  Credit  to  be  issued  thereafter  and   (ii) references herein to the term “L/C Issuer” shall be deemed to refer to such successor   or to any previous L/C Issuer, or to such successor and all previous L/C Issuers, as the   context shall require.  After the replacement of an L/C Issuer hereunder, the replaced L/C   Issuer shall remain a party hereto and shall continue to have all the rights and obligations   of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior   to such replacement (including the right to receive fees under Section 2.11(b)), but shall   not be required to issue additional Letters of Credit.                (j)  Cash  Collateralization.   If  any  Event  of  Default  shall  occur  and  be   continuing,  on  the  Business  Day  that  the  Company  receives  notice  from  the   Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been   accelerated,  Lenders  with  L/C  Exposures  representing  more  than 50%  of  the  L/C   Exposure)  demanding  the  deposit  of  cash  collateral  pursuant  to this  paragraph,  each   Borrower shall deposit in an account with the Administrative Agent, in the name of the   Administrative Agent and for the benefit of the applicable Lenders and the L/C Issuers,  an amount equal to the portion of the L/C Exposure attributable to each Letter of Credit  issued  for  the  account  of  such  Borrower  as  of  such  date  plus  any  accrued  and  unpaid  interest thereon in cash and in the currency of such Letter of Credit; provided that the   obligation to deposit such cash collateral shall become effective immediately, and such   deposit shall become immediately due and payable, without demand or other notice of   any  kind,  upon  the  occurrence  of  any  Event  of  Default  with  respect  to  any  Borrower   described in Section 8.01(g) or 8.01(h).  The Borrowers shall also deposit cash collateral   in accordance with this paragraph as and to the extent required by Section 2.15.  Such   deposit  shall  be  held  by  the  Administrative  Agent  as  collateral  for  the  payment  and   performance  of  the  Obligations  of  the  applicable  Borrower  in  connection  with  the   applicable Letters of Credit and otherwise as expressly set forth below, and the applicable   Borrower hereby creates in favor of the Administrative Agent a security interest in each   such deposit to secure such Obligations.  The Administrative Agent shall have exclusive   dominion  and  control,  including the  exclusive  right  of  withdrawal,  over  such  account.    Other  than  any  interest  earned  on  the  investment  of  such  deposits,  which  investments   shall be made at the option and sole discretion of the Administrative Agent and at the                                                                                [[3883081]]  

 

                                                                      48    applicable Borrower’s risk and expense, such deposits shall not bear interest.  Interest or   profits,  if  any,  on  such  investments  shall  accumulate  in  such  account.   Moneys  of  a   Borrower  in  such  account  shall,  notwithstanding  anything  to  the  contrary  in   Section 2.13(b), be applied by the Administrative Agent to reimburse the L/C Issuers for   L/C Disbursements in respect of Letters of Credit issued for the  account  of  such   Borrower (or, in the case of moneys deposited by the Company, the other Borrowers) for   which they have not been reimbursed and, to the extent not so applied, shall be held for   the  satisfaction  of  the  reimbursement  obligations  of  such  Borrower  (or,  in  the  case  of  moneys deposited by the Company, the other Borrowers) for the L/C Exposure in respect  of Letters of Credit issued for the account of such Borrower (or, in the case of moneys  deposited by the Company, the other Borrowers) at such time or, if the maturity of the  Loans has been accelerated (but subject to (i) the consent of Lenders with L/C Exposure  representing  more  than  50%  of  the  L/C  Exposure  and  (ii) in  the case  of  any  such  application at a time when any Lender is a Defaulting Lender (but only if, after giving  effect thereto, the remaining cash collateral in respect of the L/C Exposure shall be less  than the aggregate L/C Exposure of all the Defaulting Lenders) the consent of each L/C  Issuer),  be  applied  to  satisfy  other  obligations  of  such  Borrower  (or,  in  the  case  of  moneys  deposited  by  the  Company,  the  other  Borrowers)  under  this  Agreement.   If  a  Borrower is required to provide an amount of cash collateral hereunder as a result of the  occurrence of an Event of Default, such amount (to the extent not applied as aforesaid)  shall be returned to such Borrower within three Business Days after all Events of Default  have been cured or waived.  If any Borrower is required to provide an amount of cash  collateral hereunder pursuant to Section 2.15, such amount (to the extent not applied as  aforesaid) shall be returned to such Borrower as promptly as practicable (and in no event  more than three Business Days) to the extent that, after giving effect to such return, no  L/C Issuer shall have any exposure in respect of any outstanding Letter of Credit that is  not  fully  covered  by  the  Commitments  of  the  Non-Defaulting  Lenders  and/or  the  remaining cash collateral.               (k)  Designation  of  Additional  L/C  Issuers.   From  time  to  time,  the   Company  may  by  notice  to  the  Administrative  Agent  and  the  Lenders  designate  as   additional L/C Issuers one or more Lenders (or Affiliates of Lenders) that agree to serve   in such capacity as provided below.  The acceptance by a Lender (or an Affiliate of a   Lender)  of  any  appointment  as  an  L/C  Issuer  hereunder  shall  be evidenced  by  an  L/C   Issuer  Agreement,  which  shall  set  forth  the  L/C  Commitment  of  such  Lender  (or   Affiliate)  and  be  executed  by  such  Lender  (or  Affiliate),  the  Company  and  the   Administrative Agent and, from and after the effective date of such agreement, (i) such   Lender (or Affiliate) shall have all the rights and obligations of an L/C Issuer under this   Agreement  and  the  other  Loan  Documents  and  (ii)  references  herein  and  in  the  other   Loan Documents to the term “L/C Issuer” shall be deemed to include such Lender in its   capacity as an L/C Issuer.  The L/C Issuer Agreement of any L/C Issuer may limit the   currencies in which and the Borrowers for the accounts of which such L/C Issuer will   issue Letters of Credit, and any such limitations will, as to such L/C Issuer, be deemed to   be incorporated into this Agreement.                (l)  L/C  Issuer  Reports.   Unless  otherwise  agreed  by  the  Administrative   Agent, each L/C Issuer shall report in writing to the Administrative Agent (i) on or prior                                                                                [[3883081]]  

 

                                                                      49    to each Business Day on which such L/C Issuer issues, amends, renews or extends any   Letter  of  Credit,  the  date  of  such  issuance,  amendment,  renewal  or  extension,  and  the   Class,  currency  and  aggregate  face  amount  of  the  Letters  of  Credit  issued,  amended,   renewed  or  extended  by  it  and  outstanding  after  giving  effect  to  such  issuance,   amendment, renewal or extension (and whether the amount thereof shall have changed),   (ii) on each Business Day on which such L/C Issuer makes any L/C Disbursement, the   Class  of  such  L/C  Disbursement  and  the  date,  currency  and  amount  of  such  L/C   Disbursement, (iii) on any Business Day on which a Borrower fails to reimburse an L/C   Disbursement required to be reimbursed to such L/C Issuer on such day, the date of such   failure and the Class, currency and amount of such L/C Disbursement and (iv) on any   other Business Day, such other information as the Administrative Agent shall reasonably   request as to the Letters of Credit issued by such L/C Issuer.                SECTION 2.06.  Funding  of  Borrowings.   (a)  Each  Lender  shall  make   each Loan to be made by it hereunder on the proposed date thereof by wire transfer of   immediately  available  funds  in  the  applicable  currency  by  (i)  in  the  case  of  a  LIBOR   Borrowing, a EURIBOR Borrowing or a CDOR Borrowing, 10:00 a.m., Local Time and   (ii) in the case of an ABR Borrowing, 1:00 p.m., New York City time, in each case to the   account  of  the  Administrative  Agent  most  recently  designated  by  the  Administrative   Agent for such purpose by notice to the applicable Lenders; provided that Swing Line   Loans shall be made as provided in Section 2.04.  The Administrative Agent will make   such  Loan  proceeds  available  to  the  applicable  Borrower  by  promptly  remitting  the   amounts so received, in like funds, to the account designated in the applicable Borrowing   Notice; provided that ABR Revolving Loans made to finance the reimbursement of an   L/C Disbursement as provided in Section 2.05(e) shall be remitted by the Administrative   Agent  to  the  applicable  L/C  Issuer  specified  in  the  applicable Borrowing  Notice.   If  a   Borrowing shall not occur on such date because any condition precedent herein specified   shall not have been met, the Administrative Agent shall return the amounts so received to   the respective Lenders.                  (b)  Unless  the  Administrative  Agent  shall  have  received  notice from a   Lender  prior  to  the  proposed  date  of  any  Borrowing  that  such  Lender  will  not  make   available  to  the  Administrative  Agent  such  Lender’s  share  of  such  Borrowing,  the   Administrative  Agent  may  assume  that  such  Lender  has  made  such share  available  on   such date in accordance with paragraph (a) of this Section and may, in reliance upon such  assumption,  make  available  to  the  applicable  Borrower  on  such  date  a  corresponding  amount in the required currency.  In such event, if a Lender has not in fact made its share  of the applicable Borrowing available to the Administrative Agent, then the applicable  Lender and such Borrower severally agree to pay to the Administrative Agent forthwith  on  demand  such  corresponding  amount  with  interest  thereon,  for each  day  from  and  including the date such amount is made available to such Borrower to but excluding the  date of payment to the Administrative Agent, at (i) in the case of such Lender,  (A) if  denominated in US Dollars, the greater of (x) the Federal Funds Effective Rate and (y) a  rate determined by the Administrative Agent in accordance with banking industry rules  on interbank compensation and (B) if denominated in any other currency, the greater of  (x)  the  rate  reasonably  determined  by  the  Administrative  Agent to  be  the  cost  to  it  of  funding such amount (which determination will be conclusive absent manifest error) and                                                                                [[3883081]]  

 

                                                                     50   (y) a rate determined by the Administrative Agent in accordance with banking industry  rules  on  interbank  compensation  or  (ii) in  the  case  of  such  Borrower,  the  interest  rate  applicable  to  the  subject  Loan  pursuant  to  Section  2.12.  If  such  Borrower  and  such  Lender  shall  both  pay  such  interest  to  the  Administrative  Agent  for  the  same  or  an  overlapping period, the Administrative Agent shall promptly remit to such Borrower the  amount of such interest paid by such Borrower for such period. If such Lender pays such  amount  to  the  Administrative  Agent,  then  such  amount  shall  constitute  such  Lender’s  Loan  included  in  such  Borrowing.  Any  payment  by  any  Borrower  shall  be  without  prejudice to any claim such Borrower may have against a Lender that shall have failed to  make such payment to the Administrative Agent.               SECTION 2.07.  Interest  Elections.   (a)  Each  Revolving  Borrowing  initially shall be of the Class and Type specified in the applicable Borrowing Notice and,  in the case of a LIBOR, EURIBOR or CDOR Borrowing, shall have an initial Interest  Period  as  specified  in  such  Borrowing  Notice.   Thereafter,  the Company  may  elect  to  convert such Borrowing to a different Type or to continue such Borrowing and, in the  case of a LIBOR, EURIBOR or CDOR Borrowing, may elect Interest Periods therefor,  all as provided in this Section and on terms consistent with the other provisions of this  Agreement.  The Company may elect different options with respect to different portions  of the applicable affected Revolving Borrowing, in which case each such portion shall be  allocated ratably among the Lenders holding the Loans comprising such Borrowing and  the Loans comprising each such portion shall be considered a separate Borrowing.  This  Section shall not apply to Swing Line Loans, which may not be converted or continued.   Notwithstanding any other provision of this Section, the Company shall not be permitted  to change the Class or, except as permitted in Sections 3.02 and 3.03, the currency of any  Borrowing or elect an Interest Period for a LIBOR, EURIBOR or CDOR Borrowing that  does not comply with Section 2.02(b).               (b)  To  make  an  election  pursuant  to  this  Section,  the  Company shall  submit to the Administrative Agent, by fax or email (in .pdf or .tif format), a completed  Interest Election Request in a form approved by the Administrative Agent and signed by  an  Authorized  Representative  by  the  time  and  date  that  a  Borrowing  Notice  would  be  required under Section 2.03 if the Company were requesting a Borrowing  of  the  Type  resulting  from  such  election  to  be  made  on  the  effective  date  of  such  election.   Each  Interest  Election  Request  shall  specify  the  following  information  in  compliance  with  Section 2.02:               (i) the Borrowing to which such Interest Election Request applies and, if        different options are being elected with respect to different portions thereof, the        portions thereof  to  be  allocated  to each  resulting  Borrowing  (in  which  case  the        information  to  be  specified  pursuant  to  clauses  (iii)  and  (iv) below  shall  be        specified for each resulting Borrowing);               (ii) the  effective  date  of  the  election  made  pursuant  to  such  Interest        Election Request, which shall be a Business Day;               (iii) the Type of the resulting Borrowing; and                                                                                                 [[3883081]]  

 

                                                                      51                (iv) if  the  resulting  Borrowing  is  to  be  a  LIBOR,  EURIBOR  or  CDOR         Borrowing, the Interest Period to be applicable thereto after giving effect to such        election,  which  shall  be  a  period  contemplated  by  the  definition  of  the  term        “Interest Period”.   If by any such Interest Election Request the Company requests a LIBOR, EURIBOR or  CDOR  Borrowing  but  does  not  specify  an  Interest  Period,  then  the  Company  shall  be  deemed to have selected an Interest Period of one month’s duration.               (c)  Promptly  following  receipt  of  an  Interest  Election  Request,  the  Administrative  Agent  shall  advise  each  Lender  of  the  applicable  Class  of  the  details  thereof and of such Lender’s portion of each resulting Borrowing.               (d)  If the Company fails to deliver a timely Interest Election Request with  respect to a LIBOR, EURIBOR or CDOR Borrowing prior to the end of  the  Interest  Period applicable thereto, then, unless such Borrowing is prepaid in accordance with the  provisions of Section 2.10, at the end of such  Interest Period such Borrowing shall be  continued as a Borrowing of the applicable Type for an Interest Period of one month.               (e)  Notwithstanding any contrary provision hereof, if an Event of Default  has  occurred  and  is  continuing  and  the  Administrative  Agent,  at  the  request  of  the   Required  Lenders,  so  notifies  the  Company,  then,  so  long  as  an Event  of  Default  is   continuing (i) no outstanding Borrowing denominated in US Dollars may be converted to   or  continued  as  a  LIBOR  Borrowing,  (ii)  unless  repaid,  each  LIBOR  Borrowing   denominated in US Dollars shall be converted to an ABR Borrowing at the end of the   Interest  Period  applicable  thereto  and  (iii)  unless  repaid,  each  LIBOR,  EURIBOR  or   CDOR  Borrowing  denominated  in  an Alternative  Currency  shall  be continued  as  a   LIBOR, EURIBOR or CDOR Borrowing, as applicable, with an Interest Period of one   month’s duration.  The foregoing is without prejudice to the other rights and remedies   available hereunder upon an Event of Default.                SECTION 2.08.  Termination,  Reduction  and  Increase  of  Commitments;   Redesignation  of  Commitments.   (a)  Unless  previously  terminated,  the  Commitments   shall terminate on the Stated Termination Date.                (b)  The Company may, upon three Business Days prior written notice to   the Administrative Agent specifying the effective date thereof, terminate, or from time to   time  permanently  reduce,  the  Commitments  of  any  Class;  provided  that  (i) each  such   reduction of the Commitments of any Class shall be in an amount that is not less than the   Borrowing Minimum and an integral multiple of the Borrowing Multiple, in each case for   Borrowings denominated in US Dollars (or, if less, the entire remaining amount of the   Commitments  of  such  Class),  (ii) the  Company  shall  not  terminate  or  reduce  the   Commitments of any Class if after giving effect to such termination or reduction and to   any  concurrent  payment  or  prepayment  of  Loans  or  L/C  Disbursements,  (A)  the   aggregate Revolving Credit Exposure of such Class would exceed the aggregate amount   of  Commitments  of  such  Class,  (B)  the  Aggregate  Revolving  Credit  Exposure  would   exceed the aggregate Commitments or (C) the Revolving Credit Exposure of such Class                                                                                 [[3883081]]  

 

                                                                      52    of  any  Lender  would  exceed  its  Commitment  of  such  Class  and  (iii) if an Event of   Default shall have occurred and be continuing, the Company shall not terminate or reduce  the  Commitments  of  any  Class  unless  it  shall  simultaneously  and  ratably  reduce  the  Commitments of the other Class.               (c)  Promptly  following  receipt  of  notice  from  the  Company  pursuant  to  paragraph (b)  of  this  Section,  the  Administrative  Agent  shall  advise  the  applicable  Lenders of the contents thereof.  Each notice delivered by the Company pursuant to this  Section shall be irrevocable; provided that a notice of termination of the Commitments of   any Class may state that such notice is conditioned upon the effectiveness of other credit   facilities  or  the  completion  of  other  transactions,  in  which  case  such  notice  may  be  revoked or extended by the Company (by notice to the Administrative Agent on or prior  to the specified effective date) if such condition is not satisfied or the satisfaction of such  condition  is  delayed.   Any  termination  or  reduction  of  the  Commitments  of  any  Class  shall  be  permanent.   Each  reduction  of  the  Commitments  of  any  Class  shall  be  made  ratably  among  the  Lenders  of  such  Class  in  accordance  with  their  respective  Commitments of such Class.               (d)  (i)The  Company,  the  Administrative  Agent  and  any  Lender  or  any  other Person qualifying as an Eligible Assignee or any combination of such Lenders and  such Persons (collectively, “Increasing Lenders”), may (in their sole discretion) enter into   one or more amendment agreements substantially in the form of Exhibit F hereto (each an  “Accession  Agreement”)  without  further  approval  of  the  other  Lenders  or  any  other   Borrower, pursuant to which the Increasing Lenders agree to establish or increase, as the   case may be, Global Tranche Commitments or US Tranche Commitments in an aggregate   amount  for  all  Commitments  so  established  or  increased  pursuant  to  this  paragraph   during the term of this Agreement not to exceed US$750,000,000; provided that:                      (A) each  such  increase  shall  be  in  an  amount  equal  to         US$20,000,000 or an integral multiple of US$5,000,000 in excess thereof;                      (B) each Borrower shall execute and deliver to the Administrative         Agent (1) board resolutions of such Borrower certified by its secretary or assistant         secretary authorizing such increase and (2) a legal opinion of either the General         Counsel  of  such  Borrower  or  special  counsel  to  such  Borrower  as  to  the  due         authorization,  execution  and  delivery  of  this  Agreement,  as  modified  by  such         increase,  the  enforceability  thereof  and  the  absence  of  conflicts  with  the         Organizational Documents and material agreements of such Borrower, all in form         and substance substantially similar to such opinions delivered on the Closing Date         in satisfaction of Section 4.01(a)(ii);                       (C) the  Company  shall  deliver  to  the  Administrative  Agent  a         certificate of an Authorized Representative certifying that no Default or Event of         Default then exists or would arise as a result of any such increase; and                      (D) if  such  Increasing  Lender  is  not  already  a  Lender  hereunder,         each  Increasing  Lender  shall  be  subject  to  the  approval  of  the Administrative                                                                                 [[3883081]]  

 

                                                                     53         Agent,  each  L/C  Issuer  and  each  Swing  Line  Lender  (in  each  case,  which        approval shall not be unreasonably withheld, delayed or conditioned).               (ii) Upon  the  execution,  delivery  and  acceptance  of  the  documents        required by this Section 2.08(d), each Increasing Lender shall have all the rights        and  obligations  of  a  Lender  under  this  Agreement.   The  Administrative  Agent        shall provide the Lenders with notice of the revised Commitments of the Lenders,        including the Increasing Lenders.               Upon the effectiveness of an increase provided for in this Section 2.08(d),  if any Loans of a Class affected by such increase are then outstanding, each applicable  Borrower shall prepay to certain Lenders amounts of such Loans outstanding (including  any additional amounts required pursuant to Section 3.04) and borrow from certain other  Lenders  new  Loans  as  necessary  so  that,  after  giving  effect  to such  prepayments  and  borrowings on such date, the percentage of the principal balance of all outstanding Loans  of the applicable Class owing to each Lender is equivalent to each such Lender’s ratable  percentage  (based  on  its  Commitment,  and  the  Commitments  of  the  other  Lenders,  of  such  Class)  of  all  such  outstanding  Loans  of  such  Class  after  giving  effect  to  any  nonratable increase in the Commitments of such Class resulting from the exercise of an  increase pursuant to this Section 2.08(d).               (e)  Notwithstanding anything in this Agreement to the contrary, any US  Tranche  Lender  (a  “Converting  Lender”)  may  elect  to  convert  its  US  Tranche  Commitment, in whole but not in part, to a Global Tranche Commitment with the consent  of the Company and pursuant to an agreement entered into by such US Tranche Lender,  the Administrative Agent and the Company (a “Conversion Agreement”); provided that,  after giving effect to such conversion and to the transactions provided for in this Section  2.08(e),  (i)  the  aggregate  US  Tranche  Revolving  Credit  Exposure  will  not  exceed  the  aggregate US Tranche Commitments and (ii) the US Tranche Revolving Credit Exposure  of any US Tranche Lender will not exceed its US Tranche Commitment.  On the effective  date  of  any  such  conversion  (which  shall  be  the  date  specified in  the  applicable  Conversion  Agreement),  (A)  the  US  Tranche  Commitment  of  such  Converting  Lender  shall become a Global Tranche Commitment, with the result that the aggregate amount of  the Global Tranche Commitments shall be increased and the aggregate amount of the US  Tranche Commitments shall be reduced by the amount of the US Tranche Commitment  so  converted,  and  (B)  such  Converting  Lender  shall,  with  respect  to  its  converted  Commitment,  have  the  rights  and  obligations  of  a  Global  Tranche  Lender.   Upon  the  effectiveness  of  any  such  conversion,  (x)  if  any  Loans  are  then  outstanding,  each  applicable  Borrower  shall  prepay  to  certain  Lenders  the  amounts  of  such  Loans  outstanding, including all outstanding US Tranche Loans of the Converting Lender (and  any additional amounts required pursuant to Section 3.04), and borrow from certain other  Lenders  new  Loans,  as  necessary  so  that,  after  giving  effect  to  such  prepayments  and  borrowings on such date, the percentage of the principal balance of all outstanding Loans  of  each  Class  owing  to  each  Lender  is  equivalent  to  such  Lender’s ratable percentage  (based on its Commitment of such Class, and the Commitments of the other Lenders of  such Class) of all such outstanding Loans of such Class and (y) if any Letters of Credit or  Swing Line Loans are then outstanding, the allocation of the participation exposures with                                                                                                 [[3883081]]  

 

                                                                      54    respect to such then-existing or any subsequent Letters of Credit or Swing Line Loans of   each Class shall be reallocated on a ratable basis (based on each Lender’s Commitment,   and  the  Commitments  of  the  other  Lenders,  of  such  Class)  as  between  the  Lenders  of   such Class after giving effect to any such conversion.                SECTION 2.09.  Repayment  of   Loans;  Evidence   of   Debt.     (a)  Each  Borrower  hereby  unconditionally  promises  to  pay  (i) to  the  Administrative   Agent for the account of each Lender the then unpaid principal amount of each Revolving   Loan made by such Lender to such Borrower on the Termination Date and (ii) to each   Swing Line Lender the then unpaid principal amount of each Swing Line Loan made by   such Swing Line Lender to such Borrower on the earlier of the Termination Date and the   first date after such Swing Line Loan is made that is the 15th day or the last day of a   calendar month and that is at least four Business Days after the day on which such Swing   Line Loan is made; provided that on each date on which a Borrowing denominated in US   Dollars  (including  any  ABR  Borrowing)  is  made  to  the  Company,  the  Company  shall   repay all its Swing Line Loans then outstanding.                (b)  Each  Lender  shall  maintain  in  accordance  with  its  usual  practice  an   account  or  accounts  evidencing  the  Indebtedness  of  each  Borrower  to  such  Lender   resulting from each Loan made by such Lender, including the amounts of principal and   interest payable and paid to such Lender from time to time hereunder.               (c)  The  Administrative  Agent  shall  maintain  accounts  in  which it  shall  record  (i) the  amount  of  each  Loan  made  hereunder,  the  Class  and  Type  of  each  such  Loan  and,  in  the  case  of  any  LIBOR,  EURIBOR  or  CDOR  Loan,  the  Interest  Period  applicable  thereto,  (ii) the  amount  of  any  principal  or  interest  due  and  payable  or  to   become  due  and  payable  from  each  Borrower  to  each  Lender  hereunder  and  (iii) the   amount of any sum received by the Administrative Agent hereunder for the account of   the Lenders or any of them and each Lender’s share thereof.  The information contained   in such accounts will be made available to the Company at reasonable times and upon   reasonable request.                (d)  The entries made in the accounts maintained pursuant to paragraph (b)   or (c) of this Section shall be prima facie evidence of the existence and amounts of the   obligations  recorded  therein;  provided  that  the  failure  of  any Lender  or  the   Administrative  Agent  to  maintain  such  accounts  or  any  error  therein  shall  not  in  any   manner affect the obligation of any Borrower to repay the Loans in accordance with the   terms of this Agreement.                (e)  Any Lender may request that Loans of any Class made by it to any   Borrower  be  evidenced  by  a  promissory  note.   In  such  event,  the  applicable  Borrower   shall  prepare,  execute  and  deliver  to  such  Lender  a  promissory note  payable  to  such   Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in   a form approved by the Company and the Administrative Agent.  Thereafter, the Loans   evidenced by such promissory note and interest thereon shall at all times (including after   assignment pursuant to Section 11.01) be represented by one or more promissory notes in                                                                                 [[3883081]]  

 

                                                                     55   such form payable to the payee named therein (or, if such promissory note is a registered  note, to such payee and its registered assigns).               SECTION 2.10.  Prepayment of Loans.  (a)  Each Borrower shall have the  right at any time and from time to time to prepay any Borrowing of such Borrower in  whole or in part, subject to Section 3.04 (but otherwise without premium or penalty) and  the requirements of this Section.               (b)  If,  on  any  date,  the  Company  shall  have  received  notice  from  the  Administrative Agent that (i) the aggregate Revolving Credit Exposure of any Class shall  exceed the aggregate Commitments of such Class or (ii) the Aggregate Revolving Credit  Exposure  shall  exceed  the  aggregate  Commitments,  then  (A) if  any  ABR  Revolving  Borrowing or Swing Line Loan of the applicable Class (in the case of clause (i)), or of  either Class (in the case of clause (ii)) shall be outstanding, the Borrowers shall, within  three Business Days of receipt of such notice, prepay such ABR Revolving Borrowing or  Swing  Line  Loan  and  (B)  on  the  last  day  of  any  Interest  Period for  any  LIBOR,  EURIBOR or CDOR Borrowing of the applicable Class (in the case of clause (i)), or of  either Class (in the case of clause (ii)), the applicable Borrower shall, if such day is at  least three Business Days after receipt of such notice, prepay such LIBOR, EURIBOR or  CDOR  Borrowing,  in  each  case,  in  an  aggregate  amount  equal  to  the  lesser  of  (x) the  amount necessary to eliminate such excess and (y) the amount of such Borrowing.  If, on  any date, the Company shall have received notice from the Administrative Agent that (1)  the  aggregate  Revolving  Credit  Exposure  of  any  Class  shall  exceed  105%  of  the  aggregate Commitments of such Class or (2) the aggregate Revolving Credit Exposure  shall exceed 105% of the aggregate Commitments, then the Borrowers shall, within three  Business Days of receipt of such notice, prepay one or more Borrowings in an aggregate  principal amount sufficient to eliminate such excess.               (c)  On  the  date  of  any  termination  or  reduction  of  the  Commitments  of  either Class pursuant to Section 2.08, the Company shall pay or prepay (or shall cause a  Borrowing Subsidiary to pay or prepay) so much of the Borrowings of such Class as shall  be necessary in order that (i) the aggregate Revolving Credit Exposure of such Class shall  not  exceed  the  aggregate  Commitments of such Class, (ii) the Aggregate  Revolving  Credit  Exposure  shall  not  exceed  the  aggregate  Commitments  and (iii)  the  Revolving  Credit Exposure of such Class of any Lender shall not exceed its Commitment of such  Class, in each case after giving effect to such termination or reduction.               (d)  Prior  to  any  optional  or  mandatory  prepayment  of  Borrowings  hereunder, the Company shall select the Borrowing or Borrowings to be prepaid and shall  specify such selection in the notice of such prepayment pursuant to paragraph (e) of this  Section.               (e)  The Company shall notify the Administrative Agent (and, in the case  of prepayment of a Swing Line Loan, the Swing Line Lender that made such Swing Line  Loan)  of  any  prepayment  of  a  Borrowing  hereunder  (i) in  the  case  of  a  LIBOR,  EURIBOR  or  CDOR  Borrowing,  not  later  than  1:00  p.m.,  Local  Time,  three Business  Days  before  the  date  of  such  prepayment,  (ii)  in  the  case  of  an  ABR  Revolving                                                                                                 [[3883081]]  

 

                                                                      56    Borrowing,  not  later  than  12:00  noon,  New  York  City  time,  on  the  date  of  such   prepayment and (iii) in the case of prepayment of a Swing Line Loan, not later than 12:00   noon,  Local  Time,  on  the  date  of  prepayment.   Each  such  notice shall  be  irrevocable,   shall be submitted by fax or email (in .pdf or .tif format) and shall specify the prepayment  date  and  the  principal  amount  of  each  Borrowing  or  portion  thereof  to  be  prepaid;  provided that, if a notice of prepayment is given in connection with a conditional notice   of termination of the Commitments as contemplated by Section 2.08, then such notice of   prepayment may be revoked if such notice of termination is revoked in accordance with   Section 2.08.  Promptly following receipt of any such notice relating to a Borrowing, the   Administrative Agent shall advise the applicable Lenders of the contents thereof.  Each   partial prepayment of any Borrowing shall be in an amount that would be permitted in the   case of an advance of a Borrowing of the same Type as provided in Section 2.02.  Each   prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid   Borrowing.  Prepayments shall be accompanied by accrued interest to the extent required   by Section 2.12.                SECTION 2.11.  Fees.   (a)  The  Borrowers  agree  to  pay  to  the   Administrative  Agent,  in  US  Dollars,  for  the  account  of  each  Lender, a facility fee (a   “Facility Fee”), which shall accrue at the Applicable Rate on the daily amount of each   Commitment of such Lender (whether used or unused), in each case during the period   from  and  including  the  Closing  Date  to  but  excluding  the  date  on  which  such   Commitment terminates; provided that, if any Lender continues to have any Revolving   Credit  Exposure  of  any  Class  after  its  Commitment  of  such  Class  terminates,  then  the   Facility  Fee  shall  continue  to  accrue  on  the  daily  amount  of  such  Lender’s  Revolving   Credit Exposure of such Class from and including the date on which such Commitment   terminates to but excluding the date on which such Lender ceases to have any Revolving   Credit Exposure of such Class.  Accrued Facility Fees shall be payable in arrears on the   last day of March, June, September and December of each year, commencing on the first   such date to occur after the date hereof, and, with respect to the Commitments of any   Class, on the date on which the Commitments of such Class shall terminate; provided that   the Facility Fees accruing on the Revolving Credit Exposure of any Class after the date   on  which  the  Commitments  of  such  Class  terminate  shall  be  payable  on  demand.   All   Facility Fees shall be computed on the basis of a year of 360 days and shall be payable   for the actual number of days elapsed (including the first day but excluding the last day).                (b)  The  Company  agrees  to  pay  (or  cause  the  applicable  Borrowing   Subsidiary  to  pay)  (i) to  the  Administrative  Agent  for  the  account  of  each  Lender  a   participation fee (an “L/C Participation Fee”) with respect to its participations in Letters   of Credit, which shall accrue at the Applicable Rate used in determining the interest rate   applicable  to  LIBOR  Revolving  Loans  on  the  daily  amount  of  such  Lender’s  L/C   Exposure  (excluding  any  portion  thereof  attributable  to  unreimbursed  L/C  Disbursements) during the period from and including the Closing Date to but excluding  the  later  of  the  date  on  which  such  Lender’s  Commitments  terminate  and  the  date  on  which  such  Lender  ceases  to  have  any  L/C  Exposure,  and  (ii) to each  L/C  Issuer,  a  fronting fee (an “L/C Fronting Fee”), which shall accrue at the rate of 0.125% per annum   on the average daily undrawn amount of the outstanding Letters of Credit of each Class   issued by such L/C Issuer during the period from and including the Closing Date to but                                                                                [[3883081]]  

 

                                                                      57    excluding the later of the date of termination of the Commitments and the date on which   the last of such Letters of Credit expires, terminates or is drawn in full, as well as such   L/C Issuer’s standard fees (“L/C Issuer Fees”) with respect to the issuance, amendment,   renewal or extension of any Letter of Credit or processing of drawings thereunder.  L/C   Participation Fees and L/C Fronting Fees accrued through and including the last day of   March,  June,  September  and  December  of  each  year  shall  be  payable  on  the  third   Business Day following such last day, commencing on the first such date to occur after   the Closing Date; provided that all such fees shall be payable on the date on which the   Commitments  terminate  and  any  such  fees  accruing  after  the  date  on  which  the   Commitments terminate shall be payable on demand.  Any other fees payable to any L/C   Issuer pursuant to this paragraph shall be payable within 10 days after demand.  All L/C   Participation Fees and L/C Fronting Fees shall be computed on the basis of a year of 360   days and shall be payable for the actual number of days elapsed (including the first day   but excluding the last day).                (c)  The Borrowers agree to pay to the Administrative Agent, for its own  account, fees payable in the amounts and at the times separately agreed upon in writing  between the Company and the Administrative Agent.               (d)  The  Borrowers  agree  to  pay,  through  the  Administrative  Agent,  upfront fees in the amounts heretofore communicated to the Lenders by the Company and  the Administrative Agent.               (e)  All  fees  payable  hereunder  shall  be  paid  on  the  dates  on  which  due  and payable, in immediately available funds, to the Administrative Agent or to any L/C  Issuer (in the case of fees payable to it) for distribution, in the case of Facility Fees, L/C  Participation Fees and upfront fees, to the Lenders entitled thereto.  Fees paid shall not be  refundable under any circumstances, absent manifest error.               SECTION 2.12.  Interest.   (a)  The  Loans   comprising  each   ABR Borrowing (including each Swing Line Loan denominated in US Dollars) shall bear   interest at the Alternate Base Rate plus the Applicable Rate.                (b)  The Loans comprising each LIBOR Borrowing shall bear interest (i)   in  the  case  of  a  LIBOR  Revolving  Loan  denominated  in  US  Dollars,  at  the  Adjusted   LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate   and (ii) in the case of a LIBOR Revolving Loan denominated in a currency other than US   Dollars, at the LIBO Rate for the Interest Period in effect for such Borrowing plus the   Applicable Rate.                (c)  The Loans comprising each EURIBOR Borrowing shall bear interest   at  the  EURIBO  Rate  for  the  Interest  Period  in  effect  for  such  Borrowing  plus  the   Applicable Rate.                (d)  The  Loans  comprising  each  CDOR  Borrowing  shall  bear  interest  at  the CDO Rate for the Interest Period in effect for such Borrowing plus the Applicable   Rate.                                                                                 [[3883081]]  

 

                                                                      58                (e)  Each Swing Line Loan denominated in Euro shall bear interest at the   Euro Overnight Rate plus the Applicable Rate.                (f)  Notwithstanding the foregoing, if any principal of or interest  on  any   Loan, any reimbursement payment owed in respect of an L/C Disbursement or any fee or   other  amount  payable  by  any  Borrower  hereunder  is  not  paid  when  due  and  payable,   whether  at  stated  maturity,  upon acceleration  or  otherwise,  such  overdue  amount  shall   bear  interest,  to  the  fullest  extent  permitted  by  applicable  law, after as well as before   judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan or   any interest on any Loan, 2% per annum plus the rate otherwise applicable to such Loan   as provided in the preceding paragraphs of this Section or (ii) in the case of any  other   amount,  2%  per  annum  plus  the  rate  applicable  to  ABR  Loans  as  provided  in   paragraph (a) of this Section.                (g)  Accrued interest on each Loan of any Class shall be payable in arrears   on  each  Interest  Payment  Date  for  such  Loan  and  upon  the  termination  of  the   Commitments of such Class; provided that (i) interest accrued pursuant to paragraph (f)   of  this  Section  shall  be  payable  on  demand,  (ii) in  the  event  of  any  repayment  or   prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to   the  end  of  the  Availability  Period),  accrued  interest  on  the  principal  amount  repaid  or   prepaid  shall  be  payable  on  the  date  of  such  repayment  or  prepayment  and  (iii) in  the   event of any conversion of any LIBOR, EURIBOR or CDOR Revolving Loan prior to   the  end  of  the  current  Interest  Period  therefor,  accrued  interest  on  such  Loan  shall  be   payable  on  the  effective  date  of  such  conversion.   All  interest  shall  be  payable  in  the   currency in which the applicable Loan is denominated.                (h)  All  interest  hereunder  shall  be  computed  on  the  basis  of  a year of   360 days,  except  that  (i)  interest  on  LIBOR  Borrowings  denominated  in  Sterling,  (ii)   interest on CDOR Borrowings and (iii) interest computed by reference to the Alternate   Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall each be   computed  on  the  basis  of  a  year  of  365 days (or,  in  the  case  of  ABR  Borrowings,   366 days in a leap year), and in each case shall be payable for the actual number of days   elapsed  (including  the  first  day but  excluding  the  last  day).  The  applicable  Alternate   Base  Rate,  Adjusted  LIBO  Rate,  LIBO  Rate,  EURIBO  Rate,  Euro  Overnight  Rate  or   CDO Rate shall be determined by the Administrative Agent, and such determination shall   be conclusive absent manifest error.                SECTION 2.13.  Payments Generally; Pro Rata Treatment; Sharing of Set-  offs.  (a)  Each Borrower shall make each payment required to be made by it hereunder or   under any other Loan Document (whether of principal, interest, fees or reimbursement of   L/C  Disbursements,  or  of  amounts  payable  under  Sections 3.01,  3.04  or  3.05,  or   otherwise) prior to 2:00 p.m., Local Time, at the place of payment, on the date when due,   in immediately available funds, without set-off or counterclaim.  Any amounts received   after  such  time  on  any  date  may  be  deemed,  in  the  discretion  of  the  Administrative   Agent,  to  have  been  received  on  the  next  succeeding  Business  Day  for  purposes  of   calculating interest thereon.  Unless and until otherwise specified, all such payments shall  be made to the Administrative Agent for the account of the applicable Lenders to such                                                                                 [[3883081]]  

 

                                                                      59    account  as  the  Administrative  Agent  shall  from  time  to  time  specify  in  one  or  more   notices delivered to the Company, except that payments to be made directly to an L/C   Issuer  or  a  Swing  Line  Lender  shall  be  so  directly  made  and  payments  to  be  made   pursuant  to  Sections 3.01, 3.04,  3.05,  11.05  and  11.09  shall  be  made  directly  to  the   Persons entitled thereto and payments pursuant to other Loan Documents shall be made   to the Persons specified therein.  Each such payment shall be made in US Dollars, except   that the principal of and interest on any Loan or L/C Disbursement denominated in an   Alternative Currency shall be made in such currency.  The Administrative Agent shall   distribute any such payments received by it for the account of any other Person to the   appropriate recipient promptly following receipt thereof.  If any payment under any Loan   Document shall be due on a day that is not a Business Day, the date for payment shall be   extended to the next succeeding Business Day and, in the case of any payment accruing   interest, interest thereon shall be payable for the period of such extension.  Any payment   required to be made by the Administrative Agent hereunder shall be deemed to have been   made by the time required if the Administrative Agent shall, at or before such time, have   taken the necessary steps to make such payment in accordance with the regulations or   operating  procedures  of  the  clearing  or  settlement  system  used by  the  Administrative   Agent to make such payment.                (b)  If at any time insufficient funds are received by and available to the   Administrative  Agent  to  pay  fully  all  amounts  of  principal,  unreimbursed  L/C   Disbursements,  interest  and  fees  then  due  and  payable  hereunder,  such  funds  shall  be   applied (i) first, towards payment of interest and fees then due  and  payable  hereunder,   ratably among the parties entitled thereto in accordance with the amounts of interest and   fees then due and payable to such parties and (ii) second, towards payment of principal   and unreimbursed L/C Disbursements then due and payable hereunder, ratably among the   parties entitled thereto in accordance with the amounts of principal and unreimbursed L/C   Disbursements then due and payable to such parties.                (c)  If any Lender shall, by exercising any right of set-off or counterclaim   or  otherwise,  obtain  payment  in  respect  of  any  principal  of  or interest  on  any  of  its   Revolving Loans, participations in L/C Disbursements or Swing Line Loans or accrued   interest  on  any  of  the  foregoing (collectively  “Claims”)  resulting  in  such  Lender   receiving payment of a greater proportion of the aggregate amount of its Claims than the   proportion  received  by  any  other  Lender  with  respect  to  its  Claims,  then  the  Lender   receiving such greater proportion shall purchase (for cash at face value) participations in   the  Claims  of  the  other  Lenders  to  the  extent  necessary  so  that the benefit of all such   payments  shall  be  shared  by  the  Lenders  ratably  in  accordance  with  the  aggregate   amounts  of  their  respective  Claims;  provided  that  (i) if  any  such  participations  are   purchased  and  all  or  any  portion of  the  payment  giving  rise  thereto  is recovered,  such  participations  shall  be  rescinded  and  the  purchase  price  restored  to  the  extent  of  such   recovery, without interest, unless the Lender from which such payment is recovered is   required  to  pay  interest  thereon,  in  which  case  each  Lender  returning  funds  to  such   Lender shall pay its pro rata share of such interest and (ii) the provisions of this paragraph   shall not be construed to apply to any payment made by the Company or any Borrowing   Subsidiary pursuant to and in accordance with the express terms of this Agreement (for   the  avoidance  of  doubt,  as  it  may  be  amended  from  time  to  time),  including  the  last                                                                                [[3883081]]  

 

                                                                      60    paragraph of Section 2.08(d), Section 2.08(e) and Section 2.16, or any payment obtained   by a Lender as consideration for the assignment of or sale of a participation in any of its   Claims to any assignee or participant, other than to the Company or any Subsidiary or  Affiliate thereof (as to which the provisions of this paragraph shall apply).  The Company  and each Borrowing Subsidiary consents to the foregoing and agrees, to the extent it may  effectively do so under applicable law, that any Lender acquiring a participation pursuant  to the foregoing arrangements may exercise against it rights of set-off and counterclaim  with respect to such participation as fully as if such Lender were a direct creditor of the  Company or such Borrowing Subsidiary in the amount of such participation.               (d)  Unless the Administrative Agent shall have received notice from the  Company prior to the date on which any payment is due for the account of the Lenders or  the L/C Issuers hereunder that the applicable Borrower will not make such payment, the  Administrative Agent may assume that such Borrower has made such payment on such  date in accordance herewith and may, in reliance upon such assumption, distribute to the  Lenders or the L/C Issuers, as the case may be, the amount due.  In such event, if such  Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuers,  as the case may be, severally agrees to repay to the Administrative Agent forthwith on  demand  the  amount  so  distributed  to  such  Lender  or  such  L/C  Issuer  with  interest  thereon, for each day from and including the date such amount is distributed to it to but  excluding  the  date  of  payment  to  the  Administrative  Agent,  at  the  greater  of  (i) if  denominated in US Dollars, the greater of (x) the Federal Funds Effective Rate and (y) a  rate determined by the Administrative Agent in accordance with banking industry rules  on interbank compensation and (ii) if denominated in any other currency, the greater of  (x) the  rate  reasonably  determined  by  the  Administrative  Agent to  be  the  cost  to  it  of  funding such amount (which determination will be conclusive absent manifest error) and  (y) a rate determined by the Administrative Agent in accordance with banking industry  rules on interbank compensation.               (e)  If any Lender shall fail to make any payment required to be made by it  under this Agreement to or for the account of the Administrative Agent, any L/C Issuer or  any  Swing  Line  Lender,  then  the  Administrative  Agent  may,  in  its  discretion  (notwithstanding  any  contrary  provision  hereof),  (i)  apply  any amounts  thereafter   received by it for the account of such Lender for the benefit of the Administrative Agent,   such Swing Line Lender or such L/C Issuer, as the case may be, to satisfy such Lender’s   obligations to it until all such unsatisfied obligations are fully paid, and/or (ii) hold any   such amounts in a segregated account as cash collateral for, and for application to, any   future  funding  obligations  of  such  Lender,  in  the  case  of  each of clauses (i) and (ii)   above, in any order as determined by the Administrative Agent in its discretion.               SECTION 2.14.  Borrowing Subsidiaries.  On or after the Closing Date,   the Company may at any time and from time to time designate a Subsidiary as a   Borrowing Subsidiary by delivery to the Administrative Agent of a Borrowing Subsidiary   Agreement executed by such Subsidiary and the Company.  As soon as practicable upon   receipt thereof, the Administrative Agent will post a copy of such Borrowing Subsidiary   Agreement to the Lenders.  Each Borrowing Subsidiary Agreement shall become   effective on the date 10 days after it has been posted by the Administrative Agent to the                                                                                 [[3883081]]  

 

                                                                      61    Lenders (subject to the receipt by each Lender, at least five Business Days prior to such   effectiveness, of any information reasonably requested by it under the USA PATRIOT   Act or other “know-your-customer” laws (including the Beneficial Ownership   Regulation) not later than the third Business Day after the posting date of such Borrowing   Subsidiary Agreement), unless, in the case of any Foreign Subsidiary, the Administrative   Agent shall theretofore have received written notice from any Lender (or shall itself have   delivered a notice to the Company) (a) that it is unlawful under Federal or applicable   state or foreign law for such Lender or the Administrative Agent, as the case may be, to  make Loans or otherwise extend credit to or do business with such Subsidiary as   provided herein or (b) that such Lender or the Administrative Agent, as the case may be,   is restricted by operational or administrative procedures or other applicable internal   policies from extending credit under this Agreement to Persons in the jurisdiction in   which such Subsidiary is located (a “Notice of Objection”), in which case such   Borrowing Subsidiary Agreement shall not become effective until such time as such   Lender or the Administrative Agent, as the case may be, (i) withdraws such Notice of   Objection, (ii) in the case of a Lender, ceases to be a Lender hereunder, including   pursuant to Section 3.07, or (iii) in the case of a Lender, has its Global Tranche   Revolving Loans, at the election of the Company, converted to US Tranche Revolving   Loans, on terms and pursuant to procedures to be agreed by the Administrative Agent and   the Company consistent with Section 2.08(e).  Upon the effectiveness of a Borrowing   Subsidiary Agreement as provided in the preceding sentence, the applicable Subsidiary   shall for all purposes of this Agreement be a Borrowing Subsidiary and a party to this   Agreement.  In the event the Company shall have executed and delivered to the   Administrative Agent a Borrowing Subsidiary Termination with respect to any   Borrowing Subsidiary, such Borrowing Subsidiary shall cease to be a Borrowing   Subsidiary and a party to this Agreement; provided that no Borrowing Subsidiary   Termination will become effective as to any Borrowing Subsidiary at a time when any   principal of or interest on any Loan to such Borrowing Subsidiary shall be outstanding   hereunder, any Letters of Credit issued for the account of such Borrowing Subsidiary   shall be outstanding hereunder unless such Letters of Credit have been drawn in full or   have expired or been cash collateralized in accordance with Section 2.05(j) or any   amounts payable by such Borrowing Subsidiary in respect of L/C Disbursements, interest   and/or fees (and, to the extent notified by the Administrative Agent or any Lender, any   other amounts payable by such Borrowing Subsidiary) shall be outstanding hereunder,   provided further that such Borrowing Subsidiary Termination shall be effective to   terminate the right of such Borrowing Subsidiary to make further Borrowings under this   Agreement.  If (x) a Borrowing Subsidiary is to consolidate or merge with or into any   other Person or to consummate a Division and (y) the Person surviving such   consolidation or merger (the “Surviving Subsidiary”) or the Division Successor, as   applicable, will not be (1) a Domestic Subsidiary, (2) located in the same jurisdiction as   the Borrowing Subsidiary effecting such consolidation, merger or Division at the time   such consolidation, merger or Division is effective, or (3) in the case of a Borrowing   Subsidiary that is a Global Tranche Borrower, located in the same jurisdiction as any   other Borrowing Subsidiary, at the time such consolidation, merger or Division is   effective, then, (A) any principal of or interest on any Loan outstanding to such   Borrowing Subsidiary shall be repaid prior to, and a Borrowing Subsidiary Termination                                                                                 [[3883081]]  

 

                                                                      62    will be deemed to become effective as to such Surviving Subsidiary or Division   Successor, as applicable, at the time of such merger, consolidation or Division, and (B) at   the time of such merger, consolidation or Division, the Company shall automatically be   substituted for such Borrowing Subsidiary as the account party on any outstanding Letter   of Credit that shall have been issued for the account of such Borrowing Subsidiary,   unless, in each case, such Surviving Subsidiary satisfies the foregoing provisions of this   Section 2.14.                SECTION 2.15.  Defaulting  Lenders.   Notwithstanding  any  provision  of   this  Agreement  to  the  contrary,  if  any  Lender  becomes  a  Defaulting  Lender,  then  the   following provisions shall apply for so long as such Lender is a Defaulting Lender:                (a) Facility  Fees  shall  continue  to  accrue  on  the  Commitments  of  such   Defaulting Lender pursuant to Section 2.11(a) only to the extent of the Revolving Credit  Exposures of such Defaulting Lender (excluding any portion thereof constituting Swing  Line  Exposure  or  L/C  Exposure  of  such  Defaulting  Lender  that  (i)  is  subject  to  reallocation  under  clause  (c)(i)  below  or  (ii)  is  prepaid  or  cash  collateralized  by  the  applicable Borrowers in accordance with clause (c)(ii) below);               (b) the  Commitments  and  the  Revolving  Credit  Exposures  of  such  Defaulting Lender shall not be included in determining whether the Required Lenders or  any other requisite Lenders have taken or may take any action hereunder or under any  other  Loan  Document  (including  any  consent  to  any  amendment,  waiver  or  other   modification pursuant to Section 11.06); provided that any amendment, waiver or other   modification requiring the consent of all Lenders or all Lenders affected thereby shall,   except  as  otherwise  provided in  Section  11.06,  require  the  consent  of  such  Defaulting  Lender in accordance with the terms hereof;               (c) if any Swing Line Exposure or L/C Exposure of any Class exists at the  time such Lender becomes a Defaulting Lender then:               (i) (A)  first,  the  Swing  Line  Exposure  of  such  Class  of  such  Defaulting         Lender  (other  than  any portion  of  such  Swing  Line  Exposure  (x) referred  to  in         clause  (b)  of  the  definition  of  Global  Tranche  Swing  Line  Exposure  or  US         Tranche Swing Line Exposure, as the case may be, or (y) with respect to which         such  Defaulting  Lender  shall  have  funded  its  participation  as  contemplated  by         Section  2.04(c))  shall  be  reallocated  among  the  Non-Defaulting Lenders  with         Commitments  of  such  Class  ratably  in  accordance  with  their  respective         Commitments of such Class, but only to the extent the sum of all Non-Defaulting         Lenders’  Revolving  Credit  Exposures  of  such  Class  plus  such  Defaulting         Lender’s  Swing  Line  Exposure  of  such  Class  (other  than  any  portion  thereof         referred to in the parenthetical clause above) does not exceed the sum of all Non-        Defaulting  Lenders’  Commitments  of  such  Class;  and  (B)  second, the  L/C         Exposure of such Class of such Defaulting Lender (other than any portion thereof         attributable  to  unreimbursed  L/C Disbursements  with  respect  to which  such         Defaulting Lender shall have funded its participation as contemplated by Sections         2.05(d) and 2.05(e)) shall be reallocated among the Non-Defaulting Lenders with                                                                                 [[3883081]]  

 

                                                                     63         Commitments  of  such  Class  ratably  in  accordance  with  their  respective        Commitments of such Class, but only to the extent the sum of all Non-Defaulting        Lenders’  Revolving  Credit  Exposures  of  such  Class  (including  any  Swing  Line        Exposures  reallocated  pursuant  to  subclause  (A)  of  this  clause (i))  plus  such        Defaulting Lender’s L/C Exposure of such Class (other than any portion thereof        referred to in the parenthetical clause above) does not exceed the sum of all Non-       Defaulting Lenders’ Commitments of such Class;               (ii) if  the  reallocation  described  in  clause  (i)  above  cannot,  or  can  only        partially,  be  effected,  the  applicable  Borrowers  shall  within  one  Business  Day        following notice by the Administrative Agent (A) first, prepay the portion of such        Defaulting Lender’s Swing Line Exposure of the applicable Class (other than any       portion thereof referred to in the first parenthetical in such clause (i)) that has not       been reallocated as set forth in such clause and (B) second, cash collateralize for       the  benefit  of  the  L/C  Issuers  the  portion  of  such  Defaulting  Lender’s  L/C       Exposure of the applicable Class (other than any portion thereof referred to in the       second parenthetical in such clause (i)) that has not been reallocated as set forth in       such clause in accordance with the procedures set forth in Section 2.05(j) for so       long as such L/C Exposure is outstanding;              (iii) if  the  Borrowers  cash  collateralize  any  portion  of  such  Defaulting       Lender’s L/C Exposure pursuant to clause (ii) above, the Borrowers shall not be       required to pay L/C Participation Fees pursuant to Section 2.11(b) with respect to       the  portion  of  such  Defaulting  Lender’s  L/C  Exposure  for  so  long  as  such       Defaulting Lender’s L/C Exposure is cash collateralized;              (iv) if  any  portion  of  the  L/C  Exposure  of  such  Defaulting  Lender  is        reallocated pursuant to clause (i) above, then the fees payable to the applicable        Lenders pursuant to Section 2.11(a) or 2.11(b) shall be adjusted to give effect to        such reallocation;               (v) if all or any portion of such Defaulting Lender’s Swing Line Exposure        that is subject to reallocation pursuant to clause (i) above is neither reallocated nor        reduced pursuant to clause (i) or (ii) above, then, without prejudice to any rights        or remedies of the Swing Line Lender or any other Lender hereunder, all Facility        Fees  that  otherwise  would  have  been  payable  to  such  Defaulting Lender  with        respect to such portion of its Swing Line Exposure shall be payable to the Swing        Line Lender until and to the extent that such Swing Line Exposure is reallocated       and/or reduced to zero; and              (vi) if all or any portion of such Defaulting Lender’s L/C Exposure that is       subject to reallocation pursuant to clause (i) above is neither reallocated nor cash       collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any       rights or remedies of any L/C Issuer or any other Lender hereunder, all Facility       Fees  that  otherwise  would  have  been  payable  to  such  Defaulting Lender  with       respect to such portion of its L/C Exposure, and all L/C Participation Fees payable        under Section 2.11(b) with respect to such portion of its L/C Exposure, shall be                                                                                                 [[3883081]]  

 

                                                                      64          payable  to  the  L/C  Issuers  (and  allocated  among  them  ratably  based  on  the         amount  of  such  portion  of  the  L/C  Exposure  of  such  Defaulting  Lender         attributable to Letters of Credit issued by each L/C Issuer) until and to the extent         that such L/C Exposure is reallocated and/or cash collateralized; and                (d) so long as such Lender is a Defaulting Lender, no Swing Line Lender   shall be required to fund any Swing Line Loan and no L/C Issuer shall be required to   issue, amend, renew or extend any Letter of Credit of an applicable Class unless, in each   case,  it  is  satisfied  that,  after  giving  effect  to  such  funding  or  issuance,  amendment,   renewal  or  extension,  the  Defaulting  Lender’s  Swing  Line  Exposure  (other  than  any   portion thereof referred to in clause (b) of the definition of Global Tranche Swing Line   Exposure or US Tranche Swing Line Exposure, as the case may be) or L/C Exposure of   each  applicable  Class  will  be  fully  covered  by  the  Commitments of  such  Class  of  the   Non-Defaulting Lenders, after giving effect to the reallocation of participating interests in   any such funded Swing Line Loan or in any such issued, amended, renewed or extended   Letter of Credit in accordance with clause (c)(i) above and/or cash collateral in respect of   such  Letter  of  Credit  is  provided  by  the  Borrowers  in  accordance  with  clause  (c)(ii)   above.                In the event that the Administrative Agent, the Company, each Swing Line  Lender and each L/C Issuer each agree that a Defaulting Lender has adequately remedied  all  matters  that  caused  such  Lender  to  be  a  Defaulting  Lender, then  the  Swing  Line  Exposure and L/C Exposure of the Lenders of the applicable Class shall be readjusted to  reflect the inclusion of such Lender’s Commitment of such Class and on such date such  Lender  shall  purchase  at  par  such of  the  Loans  of  the  applicable  Class  of  the  other   Lenders, and such funded participations in Swing Line Loans and L/C Disbursement of   such Class, as the Administrative Agent shall determine may be necessary in order for the   Lenders  to hold  such  Loans  and  funded  participations ratably  in  accordance  with their   Commitment  of  such  Class,  and  such  Lender  shall  thereupon  cease  to  be  a  Defaulting   Lender (but shall not be entitled to receive any fees accrued during the period when it   was a Defaulting Lender, and all amendments, waivers or modifications effected without   its  consent  in  accordance  with  the  provisions  of  Section  11.06 and  this  Section  2.15   during  such  period  shall  be  binding  on  it).   The  rights  and  remedies  against,  and with   respect to, a Defaulting Lender under this Section 2.15 are in addition to, and cumulative   and not in limitation of, all other rights and remedies that the Administrative Agent and   each Lender, each Swing Line Lender, each L/C Issuer, the Company or any Borrowing   Subsidiary may at any time have against, or with respect to, such Defaulting Lender.               SECTION 2.16.  Extension  Offers.   (a)  The  Company  may,  by  written   notice to the Administrative Agent, make offers (collectively, an “Extension Offer”) on   equal  terms  to  all  the  Lenders  of  one  or  more  Classes  (each  Class  subject  to  such  an   Extension  Offer  being  an  “Extension  Request  Class”)  to  enter  into  an  Extension   Permitted Amendment pursuant to procedures reasonably specified by the Administrative   Agent  and  reasonably  acceptable  to  the  Company.   Such  notice  shall  set  forth  (i)  the   terms and conditions of the requested Extension Permitted Amendment and (ii) the date   on which such Extension Permitted Amendment is requested to become effective (which   shall not be fewer than 10 Business Days or more than 30 Business Days after the date of                                                                                 [[3883081]]  

 

                                                                      65    such  notice,  unless  otherwise  agreed  to  by  the  Administrative  Agent).   Extension   Permitted  Amendments  shall  become  effective  (A)  only  with  respect  to  the  Loans and   Commitments of the Lenders of the Extension Request Class that accept the applicable   Extension Offer (such acceptance being in the sole and individual discretion of each such   Lender and such Lenders being called “Extending Lenders”, and Lenders of such Class   that do not accept such Extension Offer being called “Declining Lenders”), (B) only if   Lenders (including any replacement Lenders referred to in the last sentence of paragraph   (c) below) representing at least a majority of the Commitments of the Extension Request   Class  accept  such  Extension  Offer  and  such  Commitments,  together  with  any   Commitments of any other Class or Classes that are simultaneously extended pursuant to   this Section, represent a majority in principal amount of the aggregate Commitments and   (C) in the case of any Extending Lender, only with respect to such Lender’s Loans and   Commitments of the Extension Request Class as to which such Lender’s acceptance has   been made.                (b)  An Extension Permitted Amendment shall be effected pursuant to an   Extension  Agreement  executed  and  delivered  by  the  Company,  each  applicable   Extending Lender and the Administrative Agent; provided that no Extension Permitted   Amendment shall become effective unless (i) the Company shall have delivered to the   Administrative Agent a certificate of an Authorized Representative certifying that (A) no  Default  or  Event  of  Default  shall  have  occurred  and  be  continuing  on  the  date  of  effectiveness  thereof,  (B) on  the  date  of  effectiveness  thereof,  the  representations  and  warranties of each Borrower set forth in the Loan Documents shall be true and correct in  all material respects on and as of such date, except in the case of any such representation  and warranty that specifically relates to an earlier date, in which case such representation  and warranty shall be so true and correct in all material respects on and as of such earlier  date and except that the financial statements referred to in Section 5.05 shall be deemed  to be those financial statements most recently delivered to the Administrative Agent and  the Lenders pursuant to Section 6.01, and (ii) the Borrowers shall have delivered to the  Administrative Agent such legal opinions, evidence of authority, officer’s certificates and  other documents as shall reasonably have been requested by the Administrative Agent in   connection therewith.  The Administrative Agent shall promptly notify each Lender of   the  effectiveness  of  each  Extension  Agreement.   Each  Extension Agreement  may,   without the consent  of any  Lender other  than  the  applicable  Extending Lenders, effect   such amendments to this Agreement and the other Loan Documents, including provisions   hereof or thereof that would otherwise require the consent of all the Lenders, as may be  necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the  provisions  of  this  Section,  including  any  amendments  necessary to  treat  the  applicable  Loans and/or Commitments of the applicable Extending Lenders as a new Class of loans  and/or  commitments  hereunder  and  as  the  Company  and  the  applicable  Extending  Lenders may agree to the extent such amendment would otherwise be permitted pursuant  to,  and  is  adopted  in  accordance  with  the  consent  requirements of,  Section  11.06;  provided  that  (i)  no  such  Extension  Agreement  shall  effect  any amendment  or  waiver   referred  to  in  Section 11.06(a)(ii)(A),  (B)  or  (C)  without  the consent  of  each  Lender   affected thereby and (ii) except as otherwise agreed by each L/C Issuer and each Swing   Line Lender, as applicable, (A) the allocation of the participation exposures with respect   to  any  then-existing  or  subsequent  Letters  of  Credit  or  Swing  Line  Loans  of  the                                                                                [[3883081]]  

 

                                                                      66    Extension Request Class shall be made on a ratable basis as between the new Class of   Commitments and the remaining Commitments of the Extension Request Class and (B)   the  Availability  Period  and  the  Stated  Termination  Date,  as  such  terms  are  used  in   reference  to  Letters  of  Credit  or  Swing  Line  Loans,  may  not  be extended  without  the   prior written consent of each L/C Issuer and each Swing Line Lender, as applicable.                  (c)  The  applicable  Commitment  of  each  Declining  Lender  under  the   Extension Request Class shall terminate on the Stated Termination Date in effect as to   such Lender prior to the effectiveness of any such Extension Permitted Amendment (the   “Existing  Stated  Termination  Date”).   The  principal  amount  of  any  outstanding   Revolving Loans of the Extension Request Class made by Declining Lenders, together   with any accrued interest thereon and any accrued fees and other amounts payable to or   for  the  accounts  of  such  Declining  Lenders,  shall  be  due  and  payable  on  the  Existing  Stated  Termination  Date,  and  on  such  date  the  Borrowers  shall  also  make  such  other  prepayments  of  Loans  as  shall  be required in order that, after giving  effect  to  the  termination of the Commitments of, and all payments to, Declining Lenders pursuant to  this sentence, the aggregate Revolving Credit Exposure of the Extension Request Class  (or any separate Class comprising the Extending Lenders of such Class) will not exceed  the aggregate Commitments of such Class.  Notwithstanding the foregoing provisions of  this  paragraph,  the  Company  shall  have  the  right,  pursuant  to  and  in  accordance  with  Section 3.07 and such procedures as the Administrative Agent may reasonably specify, at  any  time  prior  to  the  Existing  Stated  Termination  Date,  to  replace  a  Declining  Lender  with  a  Lender  or  other  financial  institution  that  will  agree  to  the  Extension  Permitted  Amendment,  and  any  such  replacement  Lender  shall  for  all  purposes constitute an  Extending Lender.               SECTION 2.17.  Use  of  Proceeds.   The  proceeds  of  the  Loans  made   hereunder  shall  be  used  by  the  Company  and  the  Borrowing  Subsidiaries  for  general   working capital needs and other lawful corporate purposes, including, without limitation,   the making of acquisitions and, subject to Section 5.10, repurchases of outstanding shares   of the Company’s common stock.                                  ARTICLE III                                                                   Change in Circumstances                SECTION 3.01.  Increased Cost and Reduced Return.  (a)  If any Change   in Law:                (i) shall impose, modify, or deem applicable any reserve, special deposit,         assessment, compulsory loan, insurance charge or similar requirement (other than         any  reserve  requirement  taken  into  account  in  determining  the  Adjusted  LIBO         Rate) relating to any extensions of credit or other assets of, or any deposits with or         other  liabilities  or  commitments  of,  any  Lender  (or  its  Applicable  Lending         Office), including each Commitment of such Lender hereunder;                                                                                  [[3883081]]  

 

                                                                      67                (ii) shall impose on any Lender (or its Applicable Lending Office) or on        the London or European interbank market any other condition (other than Taxes)        affecting this Agreement or any Note or any Loans made by such Lender or any        Letter of Credit or participation therein;               (iii) shall  subject  any  Lender  (or  its  Applicable  Lending  Office)  to any        Taxes  (other  than  (A) Indemnified  Taxes,  (B) Excluded  Taxes,  (C) reserve,        special  deposit,  assessment  compulsory  loan,  insurance  charge  or  similar        requirements, the compensation for which is governed solely by Section 3.01(a)(i)        or (D) capital adequacy or liquidity requirements, the compensation for which is        governed solely by Section 3.01(b)) on its loans, letters of credit, participations or        commitments,  or  on  its  assets,  deposits,  reserves,  liabilities or  capital,  in  each        case, attributable thereto;   and  the  result  of  any  of  the  foregoing  is  to  increase  the  cost to  such  Lender  (or  its  Applicable  Lending  Office)  of  making,  converting  into,  continuing  or  maintaining  any  Loan (or of maintaining its Commitment to make Loans) or issuing or participating in  any Letters of Credit (or of maintaining its obligation to issue or participate in any Letter  of Credit) or to reduce any sum received or receivable by such Lender (or its Applicable  Lending Office) under this Agreement or any Note with respect to any Loan or Letter of  Credit,  then  the  Borrowers  shall  pay  to  such  Lender  within  15  days  of  demand  such  amount or amounts as will compensate such Lender for such increased cost or reduction.   If  any  Lender  requests  compensation  under  this  paragraph  (a),  the  Company  may,  by  notice to such Lender (with a copy to the Administrative Agent), suspend the obligation  of  such  Lender  to  make  or  continue  Loans  of  the  Type  with  respect  to  which  such  compensation  is  requested,  or  to  convert  Loans  of  any  other  Type  into  Loans  of  such  Type,  until  the  event  or  condition  giving  rise  to  such  request ceases  to  be  in  effect;  provided  that  such  suspension  shall  not  affect  the  right  of  such  Lender  to  receive  the   compensation so requested.                (b)  If  any  Lender  shall  have  determined  that  any  Change  in  Law   regarding capital adequacy or liquidity has or would have the effect of reducing the rate   of  return  on  the  capital of  such  Lender  or  its  Lender  Parent  as  a  consequence  of  such   Lender’s  obligations  hereunder  to  a  level  below  that  which  such  Lender  or  its  Lender   Parent  could  have  achieved  but  for  such  Change  in  Law  (taking  into  consideration  its   policies with respect to capital adequacy and liquidity), then from time to time within 15   days  after  demand  by  such  Lender  (with  a  copy  to  the  Administrative  Agent)  the   Borrowers  shall  pay  to  such  Lender  such  additional  amount  or  amounts  as  will   compensate such Lender or its Lender Parent for such reduction.                (c)  Each  Lender  shall  promptly  notify  the  Company  and  the   Administrative  Agent  of  any  event  of  which  it  has  knowledge  which  will  entitle  such   Lender  to  compensation  pursuant  to  this  Section  3.01  and  will  designate a different   Applicable  Lending  Office  if  such  designation  will  avoid  the  need  for,  or  reduce  the   amount of, such compensation and will not, in the judgment of such Lender, be otherwise   disadvantageous to it.  Any Lender claiming compensation under this Section 3.01 shall   furnish  to  the  Company  and  the  Administrative  Agent  a  statement  setting  forth  the                                                                                 [[3883081]]  

 

                                                                     68   additional amount or amounts to be paid to it hereunder and the calculation thereof in  reasonable  detail,  which  shall  be  conclusive  in  the  absence  of manifest  error.   In  determining such amount, such Lender may use any reasonable averaging and attribution  methods.               (d)  Failure or delay on the part of any Lender to demand compensation  for  any  increased  costs  or  reduction  in  amounts  received  or  receivable  or  reduction  in  return  on  capital  shall  not  constitute  a  waiver  of  such  Lender’s  right  to  demand  such  compensation;  provided  that  the  Borrowers  shall  not  be  under  any  obligation  to  compensate any Lender under paragraph (a) or (b) above with respect to increased costs  or reduction in return on capital with respect to any period prior to the date that is three  months  prior  to  such  request  if such  Lender  knew  or  could  reasonably  have  been  expected  to  be  aware  of  the  circumstances  giving  rise  to  such  increased costs or  reductions in return on capital and of the fact that such circumstances would in fact result  in a claim for increased compensation by reason of such increased costs or reductions in  capital;  provided  further  that  the  foregoing  limitation  shall  not  apply  to  any  increased  costs or reductions in return on capital arising out of the retroactive application of any  Change in Law as aforesaid within such three month period.               (e)    Notwithstanding the foregoing provisions of this Section, no Lender  shall be entitled to request compensation under this Section for any costs referred to in  paragraph (a)(iii) above or any costs imposed on such Lender under the Dodd-Frank Wall  Street  Reform  and  Consumer  Protection  Act  or Basel  III  unless  it  shall be  the  general  policy or practice of such Lender to seek compensation under comparable credit facilities  the documents for which contain provisions comparable to this Section 3.01.               SECTION 3.02.  Limitation on Types of Loans.  (a) If on or prior to the  first day of any Interest Period for any Eurocurrency Rate Loan or any CDOR Loan:                     (i)  the  Administrative  Agent  determines  (which  determination        shall  be  conclusive)  that  by  reason  of  circumstances  affecting the  Relevant        Interbank Market, adequate and reasonable means do not exist for ascertaining the        Adjusted LIBO Rate, the LIBO Rate, the EURIBO Rate or the CDO Rate, as the        case may be, for Loans in the applicable currency for such Interest Period; or                     (ii)  the Required Lenders determine (which determination shall be        conclusive) and notify the Administrative Agent that the Adjusted LIBO Rate, the        LIBO Rate, the EURIBO Rate or the CDO Rate, as the case may be, for Loans in        the  applicable  currency  will  not  adequately  and  fairly  reflect the  cost  to  the        Lenders of funding or maintaining Eurocurrency Rate Loans or CDOR Loans in        such  currency  for  such  Interest  Period  (any  currency  being  affected  by  the        circumstances  described  in  clause  (i)  or  this  clause  (ii)  being referred to as an        “Affected Currency”);   then  the  Administrative  Agent  shall  give  the  Company  and  the  Lenders  prompt  notice  thereof,  specifying  the  affected  amounts,  periods  or  currencies,  and  until  the  Administrative  Agent  notifies  the  Company  and  the  Lenders  that the  circumstances                                                                                                 [[3883081]]  

 

                                                                      69    giving  rise  to  such  notice  no  longer  exist,  (1)  such  Loans  in  any  Affected  Currency   requested to be made on the first day of such Interest Period (A) in the case of Loans in  US Dollars will be made as ABR Loans and (B) in the case of Loans in any Alternative  Currency,  will  not  be  made,  (2)  any  outstanding  Loans  in  an  Affected  Currency  shall  continue to bear interest at the rates applicable under Section 2.12 and shall (A) in the  case of Loans in US Dollars, be converted into ABR Loans on the last day of the then- current  Interest  Period  with  respect  thereto  and  (B)  in  the  case  of  Loans  in  any  Alternative Currency, at the option of the Company, either (x) be paid on the last day of  the  then-current  Interest  Period  with  respect  thereto  or  (y)  be  converted  into  ABR   Revolving Loans denominated in US Dollars on the last day of the then-current Interest   Period with respect thereto, at the Exchange Rate in effect on such day (it being agreed   that at the request of any affected Lender (with a copy to the Administrative Agent), the   applicable  Borrower  will  pay  to  such  Lender  any  additional  amount  required  to   compensate  such  Lender  for  any  actual  losses  sustained  by  it  as a result of such   conversion  of  the  currency  of  any  Loan)  and  (3)  no  further  Loans  in  an  Affected   Currency that is an Alternative Currency shall be made or continued as such.                (b)  If  at  any  time  the  Administrative  Agent  determines  (which   determination  shall  be  conclusive  absent  manifest  error)  that  (i) the  circumstances  set   forth  in  paragraph  (a)(i)  of  this  Section  have  arisen  (including  because  the  applicable   Screen Rate is not available or published on a current basis) and such circumstances are   unlikely  to  be  temporary  or  (ii)  the  circumstances  set  forth  in  paragraph (a)(i)  of  this   Section  have  not  arisen  but  (A)  the  supervisor  for  the  administrator  of  the  applicable   Screen Rate has made a public statement that the administrator of the applicable Screen   Rate is insolvent (and there is no successor administrator that will continue publication of   the applicable Screen Rate), (B) the supervisor for the administrator or the administrator   of the applicable Screen Rate has made a public statement identifying a specific date after  which the applicable Screen Rate will permanently or indefinitely cease to be published  or  (C)  the  supervisor  for  the  administrator  of  the  applicable  Screen  Rate  or  a   Governmental Authority having jurisdiction over the Administrative Agent has made a   public statement identifying a specific date after which the applicable Screen Rate may   no longer be used for determining interest rates for loans denominated in the applicable   currency, then the Administrative Agent and the Company shall endeavor in good faith to   establish an alternate rate of interest to the applicable Screen Rate for such currency that   gives due consideration to the then prevailing market convention in the United States for   determining a rate of interest for syndicated loans denominated in the applicable currency  at  such  time,  and  the  Administrative  Agent  and  the  Company  shall  enter  into  an  amendment  to  this  Agreement  to  reflect  such  alternate  rate  of  interest  and  such  other  related changes to this Agreement as may be applicable (it being understood that such  amendment shall not reduce the Applicable Rate); provided that if such alternate rate of   interest shall be less than zero, such rate shall be deemed to be zero for the purposes of   this  Agreement.   Notwithstanding  anything  to  the  contrary  in  Section  11.06,  such   amendment  shall  become  effective  without  any  further  action  or consent  of  any  other   party  to  this  Agreement  so  long  as  the  Administrative  Agent  shall  not  have  received,   within  five  Business  Days  of  the  date  a  copy  of  such  amendment is  provided  to  the   Lenders, a written notice from the Required Lenders stating that the Required Lenders   object  to  such  amendment.   Until  an  alternate  rate  of  interest shall  be  determined  in                                                                                [[3883081]]  

 

                                                                      70    accordance  with  this  paragraph  (b)  (but,  in  the  case  of  the  circumstances  described  in   clause (ii)(A) or (ii)(B) of the first sentence of this paragraph (b), only to the extent the  applicable Screen Rate for such Interest Period is not available or published at such time  on  a  current  basis),  clauses  (1),  (2)  and  (3)  of  paragraph  (a) of  this  Section  shall  be  applicable.               SECTION 3.03.  Illegality.   Notwithstanding  any  other  provision  of  this   Agreement,  in  the  event  that  it  becomes  unlawful  for  any  Lender  or  its  Applicable   Lending  Office  to  make,  maintain,  or  fund  Eurocurrency  Rate  Loans  in  one  or  more   currencies,  or  to  make  Loans  of  any  Type  to  Borrowers  in  one  or  more  jurisdictions,   hereunder,  then  such  Lender  shall  promptly  notify  the  Company  thereof  and  such   Lender’s obligation to make or continue any Eurocurrency Rate Loans in such currencies,   to convert other Types of Loans into any Eurocurrency Rate Loans in such currencies or   to  make  Loans  to  Borrowers  in  such  jurisdictions  shall  be  suspended  until  the   circumstances giving rise to suspension no longer exist (in which case such Lender shall   again make, maintain, and fund Eurocurrency Rate Loans in such currencies and Loans to   Borrowers in such jurisdictions), and each such Eurocurrency Rate Loan in an affected   currency then outstanding shall (a) in the case of Loans in US Dollars, be converted into   ABR Loans on the last day of the then-current Interest Period with respect thereto and (b)   in the case of Loans in any Alternative Currency, at the option of the Company, either (x)   be paid on the last day of the then-current Interest Period with respect thereto or (y) be   converted into ABR Loans denominated in US Dollars on the last day of the then-current   Interest Period with respect thereto, at the Exchange Rate in effect on such day.                SECTION 3.04.  Compensation.  Upon the request of any Lender (with a   copy to the Administrative Agent), the applicable Borrowers shall promptly pay to such   Lender such amount or amounts as shall be sufficient (in the reasonable opinion of such   Lender) to compensate it for any loss, cost and expense incurred by it as a result of:                (a)  any payment, prepayment, or conversion of a Eurocurrency Rate Loan  or CDOR Loan for any reason (except as set forth in the first sentence of Section 2.07(b))  including, without limitation, the acceleration of the Loans pursuant to Section 8.01, on a  date other than the last day of the Interest Period for such Loan; or               (b)  any  failure  by  a  Borrower  for  any  reason  (including,  without   limitation, the failure of any condition precedent specified in Article IV to be satisfied) to   borrow, convert, continue, or prepay a Eurocurrency Rate Loan or CDOR Loan on the   date  for  such  borrowing,  conversion,  continuation,  or  prepayment  specified  in  the   relevant Borrowing Notice, Interest Election Request or notice of prepayment under this   Agreement.    Such amount payable to any Lender shall equal an amount determined by such Lender to   be  the  excess,  if  any,  of  (i)  the  amount  of  interest  that  would  have  accrued  on  the   principal  amount  of  such  Eurocurrency  Rate  Loan  or  CDOR  Loan  had  such  event  not   occurred, at the Adjusted LIBO Rate, LIBO Rate, EURIBO Rate or CDO Rate that would   have been applicable to such Loan (excluding the Applicable Rate that would have been   added  thereto),  for  the  period  from  the  date  of  such  event  to  the  last  day  of  the  then                                                                                 [[3883081]]  

 

                                                                      71    current Interest Period therefor (or, in the case of a failure to borrow, convert or continue,   for  the  period  that  would  have  been  the  Interest  Period  for  such  Loan),  over  (ii)  the   amount  of  interest  that  would  accrue  on  such  principal  amount  for  such  period  at  the   interest  rate  such  Lender  would  bid,  if  it  were  to  bid,  at  the commencement  of  such   period  for  deposits  in  the  applicable  currency  of  a  comparable amount  and  for  a   comparable period from other banks in the Relevant Interbank Market.                SECTION 3.05.  Taxes.  (a)  Any and all payments by any Borrower to or   for the account of any Lender or the Administrative Agent hereunder or under any other   Loan Document shall be made free and clear of and without deduction  for  any  Taxes,   other than as required by applicable law.  If  any Borrower shall be required by applicable   law to deduct or withhold any Taxes from or in respect of any sum payable under this   Agreement  or  any  other  Loan  Document  to  any  Lender  or  the  Administrative  Agent,   (i) such  Borrower  shall  make  such  deductions,  (ii) such  Borrower  shall  pay  the  full  amount deducted to the relevant taxation authority or other authority in accordance with  applicable  law,  (iii) if  such  Tax  is  an  Indemnified  Tax,  then  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  3.05) such  Lender  or  the  Administrative Agent receives an amount equal to the sum it would have received had no  such  deductions  been  made  and  (iv) within  thirty  days  after  the  date  of  such  payment,  such  Borrower  shall  furnish  to  the  Administrative  Agent,  at  its  address  referred  to  in  Section 11.02, the original or a certified copy of a receipt evidencing payment thereof or,  if such receipt is not legally available, any other document evidencing payment thereof  that is reasonably satisfactory to such Lender or the Administrative Agent (as the case  may be).               (b)  In addition, the Borrowers agree to pay any and all present or future  stamp  or  documentary  Taxes  and  any  other  excise  or  property  Taxes  (other  than  any  Luxembourg  stamp  duties  or  similar  Taxes  payable  as  a  result  of  a  registration,  submission  or  filing  not  required  by  law,  but  not  excluding  any  such  duties  or  Taxes  imposed  in  connection  with  a  registration,  submission  or  filing  required  to  enforce  or  exercise the rights and remedies of a Lender or the Administrative Agent following an  Event of Default) which arise from any payment made under this Agreement or any other  Loan Document or from the execution or delivery of, or otherwise with respect to, this  Agreement  or  any  other  Loan  Document  (hereinafter  referred  to  as  “Other  Taxes”);   provided that, where such Other Taxes arise from a Loan made or Letter of Credit issued   to the Company, the Borrowers shall pay only such Other Taxes as shall be imposed by   the United States or any political subdivision thereof.                (c)  The  Borrowers  agree  to  indemnify  each  Lender  and  the   Administrative Agent for the full amount of any Indemnified Taxes (including, without   limitation,  any  Indemnified  Taxes  imposed  or  asserted  by  any  jurisdiction  on  amounts   payable under this Section 3.05) payable or paid by such Lender or the Administrative   Agent (as the case may be).  Indemnification shall be made within 15 days of the date of   demand therefor.                                                                                  [[3883081]]  

 

                                                                      72                (d)  Each Lender severally agrees to indemnify the Administrative Agent   for the full amount of (i) Indemnified Taxes attributable to such Lender (but only to the   extent that any Borrower has not already indemnified the Administrative Agent for such   Indemnified Taxes and without limiting the obligation of the Borrowers to do so), (ii) any   Taxes  attributable  to  such  Lender’s  failure  to  comply  with  the provisions  of  Section   11.01(g)  relating  to  the  maintenance  of  a  Participant  Register and  (iii)  any  Excluded   Taxes  attributable  to  such  Lender,  in  each  case,  that  are  payable  or  paid  by  the   Administrative  Agent  hereunder or  in  connection  with  any  Loan  Document.    Indemnification shall be made whether or not such Taxes described in clause (i) through   (iii) of this paragraph (d) were correctly or legally imposed or asserted by the relevant   Governmental  Authority  and  shall  be  made  within  15  days  of  the date  of  demand   therefor.  A certificate as to the amount of such payment or liability delivered to a Lender   by the Administrative Agent shall be conclusive absent manifest error.                (e)  Each  Lender  that  is  entitled  to  an  exemption  from  or  reduction  of   withholding  Tax  with  respect  to  payments  under  this  Agreement  or  any  other  Loan   Document shall, at the reasonable request of the Company or the Administrative Agent,   deliver to the Company (with a copy to the Administrative Agent), at such time or times   prescribed  by  applicable  law,  such  properly  completed  and  executed  documentation  prescribed by applicable law (if any) as is required to permit such payments to be made  without withholding or at a reduced rate.                 (f)  Without limiting the foregoing, in the case of a US Borrower, (i) any  US Lender shall provide upon executing this Agreement (and from time to time thereafter  upon any reasonable request of such US Borrower or the Administrative Agent) a duly  executed Internal Revenue Service Form W-9 and (ii) any Foreign Lender shall, to the  extent it is legally entitled to do so, provide upon executing this Agreement (and from  time  to  time  thereafter  upon  any  reasonable  request  of  such  US Borrower  or  the  Administrative Agent) a duly executed applicable Internal Revenue Service Form  W-8  (or in the case of a Foreign Lender that is not a bank, other customary documentation  reasonably satisfactory to the Borrower establishing eligibility for the portfolio interest  exemption).               (g)  If a payment made to a Lender under any Loan Document would be  subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail  to  comply  with  the  applicable  reporting  requirements  of  FATCA  (including  those  contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall  deliver to the Company and the Administrative Agent at the time or times prescribed by  law and at such time or times reasonably requested by the Borrower or the Administrative  Agent  such  documentation  prescribed  by  applicable  law  (including  as  prescribed  by  Section  1471(b)(3)(C)(i)  of  the Code)  and  such  additional  documentation  reasonably  requested  by  the  Company  or  the  Administrative  Agent  as  may  be necessary  for  the  Company and the Administrative Agent to comply with their obligations under FATCA  and  to  determine  that  such  Lender  has  complied  with  such  Lender’s  obligations  under  FATCA or to determine the amount to deduct and withhold from such payment. Solely  for the purposes of this Section 3.05(f), “FATCA” shall include any amendments made to  FATCA after the date of this Agreement.                                                                                 [[3883081]]  

 

                                                                      73                (h)  If  any  Lender  receives  a  refund  or  credit  from  a  taxation authority   (such  credit  to  include  any  increase  in  any  foreign  tax  credit)  in  respect  of  any   Indemnified Taxes for which it has been indemnified by any Borrower or with respect to   which any Borrower has paid additional amounts hereunder, it shall within 30 days from   the  date  of  such  receipt  pay over  the  amount  of  such  refund,  credit  or  other  reduction   (including any interest paid or credited by the relevant taxing authority or Governmental   Authority  with  respect  to  such  refund,  credit  or  other  reduction)  to  the  applicable   Borrower  (but  only  to  the  extent  of  indemnity  payments  made,  or  additional  amounts   paid, by such Borrower with respect to the Indemnified Taxes giving rise to such refund   or credit), net of all reasonable out-of-pocket third party expenses of such Lender related   to  claiming  such  refund  or  credit  and  without  interest  (other  than  interest  paid  by  the   relevant taxation authority with respect to such refund or credit); provided, however, that   such Borrower agrees to repay, upon the request of such Lender, the amount paid over to   such Borrower (plus penalties, interest or other charges) to such Lender in the event such   Lender is required to repay such refund or credit to such taxation authority.                (i)  Notwithstanding  anything  to  the  contrary  in  this  Section  3.05,  if  the   Internal Revenue Service determines that a Lender is participating in a conduit financing   arrangement as defined in Section 7701(l) of the Code and the regulations thereunder (a   “Conduit  Financing  Arrangement”),  then  (i)  any  Taxes  that  a  Borrower  is  required  to   withhold  from  payments  to  the  Lender  participating  in  the  Conduit  Financing   Arrangement shall be excluded from the additional amounts to be paid under paragraphs   (a) or (c) of this Section 3.05 and (ii) such Lender shall indemnify any Borrower in full   for any and all Taxes for which a Borrower is held liable under Section 1461 of the Code   by virtue of such Conduit Financing Arrangement.                SECTION 3.06.  Designation  and  Change  of  Lending  Offices.   (a)  Each   Lender and each L/C Issuer agrees that it will endeavor in good faith to designate as the   office or offices from which it makes Loans or from which it issues Letters of Credit, as   applicable, one or more of its existing offices not known to it to be subject to costs or   other  requirements  for  which  it would  be  entitled  to  seek  compensation  under   Section 3.01, 3.02(a)(ii), 3.03 or 3.05 (or, where such costs cannot be avoided, that will   minimize such costs), insofar as such designation would not result, in the sole judgment   of  such  Lender,  in  economic,  legal  or  regulatory  disadvantages to  such  Lender  or  any   such lending office, and subject to overall policy considerations of such Lender.               (b)  Each Lender agrees that, upon the occurrence of any event giving rise   to the operation of Section 3.01, 3.02(a)(ii), 3.03 or 3.05 with respect to such Lender, it   will,  if  requested  by  the  Company,  use  reasonable  efforts  (subject  to  overall  policy   considerations of such Lender) to designate another lending office for any Loans affected  by such event with the object of avoiding the consequences of such event; provided, that   such designation is made on terms that, in the sole judgment of such Lender, cause such   Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage,   and provided, further, that nothing in this Section 3.06 shall affect or postpone any of the   obligations of any Borrower or the rights of any Lender pursuant to Section 3.01, 3.02(a),   3.03 or 3.05.                                                                                 [[3883081]]  

 

                                                                     74               SECTION 3.07.  Substitution of Lenders.  Upon the receipt by a Borrower  from any Lender (an “Affected Lender”) of a claim under Section 3.01, 3.02(a)(ii), 3.03  or 3.05, or if any Lender shall (x) become a Defaulting Lender or a Declining Lender or  (y) deliver a Notice of Objection pursuant to Section 2.14, the Company may: (a) request  one  or  more  of  the  other  Lenders  to  acquire  and  assume  all  or  part  of  such  Affected  Lender’s  Loans  and  Commitments  or  (b) replace  such  Affected  Lender  by  designating  another Lender or a financial institution that is willing to acquire such Loans and assume  such  Commitments;  provided  that  (i)  such  replacement  does  not  conflict  with  any  requirement of law, (ii) the applicable Borrower shall repay (or the replacement bank or  financial institution shall purchase, at par) all Loans, accrued interest and other amounts  owing  to  such  replaced  Lender  prior  to  the  date  of  replacement, (iii) the applicable  Borrowers shall be liable to such replaced Lender under Section 3.04 if any Eurocurrency  Rate Loan or CDOR Loan owing to such replaced Lender shall be prepaid (or purchased)  other than on the last day of the Interest Period relating thereto, (iv) the replacement bank  or institution, if not already a Lender, shall otherwise qualify as an Eligible Assignee, (v)  the replaced Lender shall be obligated to make such replacement in accordance with the  provisions  of  Section  11.01  (provided  that  the  applicable  Borrowers  or  replacement  Lender  shall  be  obligated  to  pay  the  registration  and  processing  fee)  and  (vi)  the  applicable  Borrowers  shall  pay  all  additional  amounts  (if  any) required  pursuant  to  Section  3.01,  3.02(b),  3.03  or  3.05,  as  the  case  may  be,  to  the  extent  such  additional  amounts were incurred on or prior to the consummation of such replacement.                                 ARTICLE IV                                                    Conditions to Making Loans and Issuing Letters of Credit               SECTION 4.01.  Conditions of Closing.  The obligations of the Lenders to  make Revolving Loans, of the Swing Line Lenders to make Swing Line Loans and of the  L/C Issuers to issue Letters of Credit are subject to the conditions precedent that:               (a)  the Administrative Agent shall have received on the Closing Date the  following:               (i) from  each  party  hereto  either  (A) a  counterpart  of  this  Agreement        signed  on  behalf  of  such  party  or  (B) written  evidence  satisfactory  to  the        Administrative  Agent  (which  may include  fax  or  electronic  transmission  of  a        signed signature page of this Agreement) that such party has signed a counterpart        of this Agreement;               (ii) the  written  opinion  or  opinions  with  respect  to  the  Loan  Documents        and  the  transactions  contemplated  thereby  of  (A)  Laura  C.  Meagher,  General        Counsel  of  the  Company,  (B)  Davis  Polk  &  Wardwell,  special  counsel  to  the        Company,  (C)  Ballard  Spahr  LLP,  Pennsylvania  counsel  for  the  Company,  (D)        Norton Rose Fulbright Luxembourg SCS, Luxembourg counsel for the Company,        (E) Baker McKenzie Brussels, Belgian counsel for the Company, and (F) Baker        McKenzie  Zurich,  Swiss  counsel  for  the  Company,  in  each  case,  dated  the                                                                                                 [[3883081]]  

 

                                                                     75         Closing  Date,  addressed  to  the  Administrative  Agent  and  the  Lenders  and        satisfactory to the Administrative Agent;               (iii) resolutions  of  the  board  of  directors  or  other  appropriate  governing        body (or of the appropriate committee thereof) of each Borrower certified by its        secretary or assistant secretary or any Authorized Representative as of the Closing        Date,  approving  and  adopting  the  Loan  Documents  to  be  executed by  such        Borrower and authorizing the execution and delivery thereof;               (iv) specimen  signatures  of  officers  or other appropriate  representatives        executing  the  Loan  Documents  on  behalf  of  each  Borrower,  certified  by  its        secretary or assistant secretary or any Authorized Representative;               (v) the  Organizational  Documents  of  each  Borrower  certified  as  of  the        Closing Date as true and correct by its secretary or assistant secretary  or  any        Authorized Representative;               (vi) to  the  extent  applicable  and  available  in  the  relevant  jurisdiction,  a        certificate issued as of a recent date by the Secretary of State or other appropriate        Governmental Authority of the jurisdiction of formation of each Borrower as to        the due existence and good standing of such Borrower;               (vii) notice of appointment of the initial Authorized Representative(s);               (viii) a  certificate  of  the  Company  certifying  that  (A)  as  of  the  Closing        Date, each of the representations and warranties set forth in Article V is true and        correct in all material respects, (B) after giving effect to the Closing Date and all        Loans  to  be  made  on  the  Closing  Date,  there  will  be  no  Default or  Event  of        Default  under  this  Agreement,  and (C)  except  as  disclosed  in  any  reports  or        financial statements publicly filed with the Securities and Exchange Commission        prior to the Closing Date, as of the Closing Date there shall not have occurred a        material  adverse  change  since  December  30,  2017,  in  the  business,  financial        position or results of operations of the Company and its Subsidiaries, taken as a        whole;               (ix) evidence that the Existing Credit Agreement has been, or concurrently        with the Closing Date is being, terminated (and each of the Lenders that is a party        to the Existing Credit Agreement hereby waives any requirement of prior notice        for  such  termination),  and  that  all  amounts  outstanding  or  accrued  for  the        accounts  of  the  lenders  thereunder  have  been,  or  concurrently  with  the  Closing        Date are being, paid; and               (x) such  other  documents,  instruments,  certificates  and  opinions  as  the        Administrative Agent or the Required Lenders may reasonably request on or prior        to  the  Closing  Date  in  connection  with  the  consummation  of  the transactions        contemplated hereby;                                                                                                 [[3883081]]  

 

                                                                      76                (b)  any  fees  and  expenses  required  to  be  paid  on  or  before  the  Closing   Date shall have been paid, including, to the extent invoiced at least one Business Day   prior  to  the  Closing  Date,  all  fees,  charges  and  disbursements of  counsel  to  the   Administrative Agent; and                (c)  the  Lenders  shall  have  received  all  documentation  and  other  information  required  by  bank  regulatory  authorities  under  applicable  “know  your  customer”  and  anti-money  laundering  rules  and  regulations,  including  the  USA  PATRIOT Act and the Beneficial Ownership Regulation, to the extent requested by the  Lenders at least three Business Days prior to the Closing Date.    Without  limiting  the  generality  of  the  provisions  of  Article  IX,  for  purposes  of   determining satisfaction of the conditions specified in this Section 4.01, each Lender that   has signed this Agreement shall be deemed to have consented to, approved or accepted,   or to be satisfied with, each document or other matter required hereunder to be consented   to  or  approved  by  or  acceptable  or  satisfactory  to  a  Lender  unless  the  Administrative   Agent shall have received notice from such Lender prior to the proposed Closing Date   specifying its objection thereto.                SECTION 4.02.  Conditions  of  Revolving  Loans,  Letters  of  Credit  and   Swing Line Loans.  The obligations of the Lenders to make any Revolving Loans, the   obligation of each Swing Line Lender to make any Swing Line Loan and the obligation   of each L/C Issuer to issue, renew or extend any Letter of Credit or to amend any Letter   of Credit to increase the stated amount thereof hereunder on or subsequent to the Closing  Date are subject to the satisfaction of the following conditions:                (a) (i) the Administrative Agent, in the case of a Revolving Loan, or the         applicable  Swing  Line  Lender,  in  the  case  of  a  Swing  Line  Loan,  shall  have         received a Borrowing Notice as required by Article II or (ii) the applicable L/C         Issuer, in the case of any issuance, renewal or extension or such amendment of a         Letter  of  Credit,  shall  have  received  a  request  for  such  issuance,  renewal  or         extension or such amendment as required by Article II;                (b) the  representations  and  warranties  set  forth  in  Article V  (other  than         those set forth in Section 5.05) shall be true and correct in all material respects         on  and  as  of  the  date  of  each  such  Loan  or  the  date  of  issuance,  renewal  or         extension or such amendment of each such Letter of Credit, as applicable, with         the same effect as though such representations and warranties had been made on         and as of such date, except to the extent that such representations and warranties         expressly  relate  to  an  earlier  date  and  except  that  the  financial  statements         referred to in Section 5.04 shall be deemed to be those financial statements most         recently  delivered  to  the  Administrative  Agent  and  the  Lenders pursuant  to         Section  6.01  from  the  date  such  financial  statements  are  delivered  to  the         Administrative Agent and the Lenders in accordance with such Section; and                 (c) at the time of and after giving effect to each such Loan or the date of          issuance, renewal or extension or such amendment of each such Letter of Credit,                                                                                 [[3883081]]  

 

                                                                     77          as  applicable,  no  Default  or  Event  of  Default  shall  have  occurred  and  be         continuing.   At the time of each Borrowing, each issuance, renewal or extension of a Letter of Credit  and each amendment of a Letter of Credit that increases the stated amount thereof, the  Company  and  each  applicable  Borrower  shall  be  deemed  to  represent  that  each  of  the  conditions set forth in this Section 4.02 has been satisfied.               SECTION 4.03.  Initial  Revolving  Loans,  Letters  of  Credit  and  Swing  Line Loans of each New Borrowing Subsidiary.  Without limiting the conditions set forth  in  Section  4.02,  the  obligation  of  each  Lender  and  L/C  Issuer  to  make  Loans  or  issue  Letters  of  Credit  for  the  account  of  any  Borrowing  Subsidiary  designated  pursuant  to  Section 2.14 is subject to the satisfaction of the following conditions:               (a) The  Administrative  Agent  shall have  received  such  Borrowing        Subsidiary’s  Borrowing  Subsidiary  Agreement,  duly  executed  by  all  parties        thereto.               (b) The  Administrative  Agent  shall have  received  a  written  opinion of        counsel  for  such  Borrowing  Subsidiary  covering  such  matters  relating  to  such        Borrowing  Subsidiary  or  its  Borrowing  Subsidiary  Agreement  as  the        Administrative Agent shall reasonably request.               (c) The  Administrative  Agent  shall  have  received  such  documents  and        certificates  as  the  Administrative  Agent  may  reasonably  request  relating  to  the        organization,  existence  and  good  standing  of  such  Borrowing  Subsidiary,  the        authorization  of  the  Transactions  insofar  as  they  relate  to  such  Borrowing        Subsidiary and any other legal matters relating to such Borrowing Subsidiary, its        Borrowing Subsidiary Agreement or such Transactions, all in form and substance        satisfactory to the Administrative Agent.                                 ARTICLE V                                                               Representations and Warranties               The  Company  represents  and  warrants  with  respect  to  itself  and its  Subsidiaries that:               SECTION 5.01.  Corporate Existence and Power.  The Company and each  other  Borrower  is  duly  organized,  validly  existing  and,  to  the extent  applicable  in  the  relevant  jurisdiction,  in  good  standing  under  the  laws  of  the  jurisdiction  of  its  organization,  and  has  all  the  corporate  or  other  requisite  powers  and  all  material  governmental  licenses,  authorizations,  consents  and  approvals  required  to  carry  on  its  business as now conducted, except to the extent that the failure to have any such licenses,  authorizations,  consents  and  approvals  could  not  reasonably  be expected  to  result  in  a  Material Adverse Effect.                                                                                                 [[3883081]]  

 

                                                                      78                SECTION 5.02.  Corporate  and  Governmental  Authorization;  No   Contravention.  The execution, delivery and performance by the Company and each other   Borrower  of  this  Agreement  and  the  other  Loan  Documents  to  which  it  is  a  party  are   within  its  corporate  or  other  applicable  powers,  have  been  duly  authorized  by  all   necessary corporate or other applicable action, require no action by or in respect of, or   filing with, any Governmental Authority and do not contravene, or constitute a default   under, any provision of applicable law or regulation or of its Organizational Documents   or, except to the extent that any such contravention or defaults could not reasonably be   expected to result in a Material  Adverse Effect, of any agreement, judgment, injunction,   order, decree or other instrument binding upon the Company or any of its Subsidiaries or   result in the creation or imposition of any Lien on any asset of the Company or any of its   Subsidiaries.                SECTION 5.03.  Binding Effect.  This Agreement constitutes a valid and   binding  agreement  of  the  Company  and  each  other  Borrower,  and  each  other  Loan   Document,  when  executed  and  delivered  by  any  Borrower,  will  constitute  a  valid  and   binding  agreement  of  such  Borrower,  in  each  case  enforceable  in  accordance  with  its   terms.                SECTION 5.04.  Financial  Information.   The  consolidated  balance  sheet   of  the  Company  and  its  Subsidiaries  as  of  December  30,  2017,  and  the  related   consolidated  statements  of  income,  retained  earnings  and  cash  flow  for  the  fiscal  year   then ended, reported on by PricewaterhouseCoopers LLP and set forth in the Company’s   Form 10-K for the fiscal year then ended, fairly present, in conformity with GAAP, the   consolidated financial position of the Company and its Subsidiaries as of such date and   their consolidated results of operations and cash flows for such fiscal year.                SECTION 5.05.  Litigation.   There  is  no  action,  suit  or  proceeding   pending against, or, to the knowledge of the Company, threatened against or affecting,   the  Company  or  any  of  its  Subsidiaries  before  any  court  or  arbitrator  or  any   Governmental  Authority  which  could  reasonably  be  expected  to  result  in  a  Material   Adverse  Effect,  or  which  in  any  manner  draws  into  question  the validity  of  this   Agreement or the other Loan Documents.                SECTION 5.06.  Compliance  with  ERISA.   Except  to  the  extent  the   failure to do so could not reasonably be expected to result in a Material Adverse Effect,  each  member  of  the  ERISA  Group  has  fulfilled  its  obligations  under  the  minimum  funding standards of ERISA and the Code with respect to each Plan and is in compliance  in all material respects with the presently applicable provisions of ERISA and the Code  with respect to each Plan.  No member of the ERISA Group has (a) sought a waiver of  the minimum funding standard under Section 412 of the Code in respect of any Plan or  Multiemployer  Plan,  (b)  failed  to  make  any  contribution  or  payment  to  any  Plan  or  Multiemployer Plan or in respect of any Benefit Arrangement, or made any amendment  to any Plan or Benefit Arrangement, which has resulted or could result in the imposition  of  a  Lien  or  the  posting  of  a  bond  or  other  security  under  ERISA or the Code or  (c) incurred any liability under Title IV of ERISA other than a liability to the PBGC for                                                                                 [[3883081]]  

 

                                                                      79    premiums under Section 4007 of ERISA, in each case that could reasonably be expected   to have a Material Adverse Effect.                SECTION 5.07.  Environmental  Matters.   In  the  ordinary  course  of  its   business,  the  Company  conducts  periodic  reviews,  which  it  considers  prudent  and   reasonable in light of the nature of the business, of the effect of Environmental Laws on   the business, operations and properties of the Company and its Subsidiaries, in the course   of  which  it  identifies  and  evaluates  associated  liabilities  and  costs  (including,  without   limitation,  any  capital  or  operating  expenditures  required  for clean-up  or  closure  of   properties presently or previously owned, any capital or operating expenditures required   to achieve or maintain compliance with environmental protection standards imposed by   law  or  as  a  condition  of  any  license,  permit  or  contract,  any  related  constraints  on   operating  activities,  including  any  periodic  or  permanent  shutdown  of  any  facility  or   reduction in the level of or change in the nature of operations conducted thereat and any   actual or potential liabilities to third parties, including employees, and any related costs   and expenses).  On the basis of this review, the Company has reasonably concluded that   Environmental Laws are unlikely to have a Material Adverse Effect.                SECTION 5.08.  Taxes.   The  Company  and  its  Significant  Subsidiaries   have filed all United States Federal income tax returns and all other material tax returns   required  to  be  filed  by  them  and  have  paid  all  taxes  due  pursuant  to  such  returns  or   pursuant  to  any  assessment  received  by  the  Company  or  any  Significant  Subsidiary,   except (a) for such amounts as may be contested in good faith by appropriate proceedings   or  (b)  to  the  extent  that  any  failure  to  file  or  pay  could  not reasonably  be  expected  to   result in a Material Adverse Effect.  The charges, accruals and reserves on the books of   the Company and its Subsidiaries in respect of Taxes or other governmental charges are,   in the reasonable opinion of the Company, adequate.                SECTION 5.09.  Margin  Stock.   The  proceeds  of  the  borrowings  made   hereunder  will  be  used  by  the  Company  only  for  the  purposes  expressly  authorized   herein.   None  of  such  proceeds  will  be  used,  directly  or  indirectly,  for  the  purpose  of   purchasing or carrying any Margin Stock or for the purpose of reducing or retiring any   Indebtedness which was originally incurred to purchase or carry Margin Stock or for any  other  purpose  which  might  constitute  any  of  the  Loans  a  “purpose”  credit  within  the  meaning of Regulation U or Regulation X (12 C.F.R. Part 221) of the Board; provided,   however, that the Company may purchase (i) its own stock and (ii) Margin Stock so long   as, following the application of the proceeds of each borrowing hereunder, not more than   25%  of  the  value  of  the  assets  of  the  Company  and  its  Subsidiaries  on  a  consolidated   basis will be Margin Stock.                SECTION 5.10.  Investment  Company.   Neither  the  Company  nor  any   Borrowing  Subsidiary  is  required  to  register  as  an  “investment company”  within  the   meaning of the Investment Company Act of 1940, as amended.                SECTION 5.11.  Full  Disclosure.   All  information  concerning  the   Company,  the  Subsidiaries  and  the  transactions  contemplated  hereby,  other  than  any   forward-looking statements, taken as a whole, that has been or will be made available by                                                                                 [[3883081]]  

 

                                                                      80    the Company to the Administrative Agent or any Lender is or will be, when furnished,   complete and correct in all material respects and does not or will not, when furnished,   contain any untrue statement of a material fact or omit to state a material fact necessary in  order to make the statements contained therein not materially misleading in light of the  circumstances  under  which  such  statements  are  made,  and  any  forward-looking  statements  that  have  been  or  will  be  made  available  by  the  Company  to  the  Administrative  Agent  or  any  Lender  are  or  will  be,  when  furnished,  based  upon  assumptions that the Company’s management believes to be reasonable at the time such  statements are made.               SECTION 5.12.  No Consents, Etc.  Neither the respective businesses or   properties of the Company or any Subsidiary, nor any relationship among the Company   or  any  Subsidiary  and  any  other  Person,  nor  any  circumstance  in  connection  with  the   execution,  delivery  and  performance  of  the  Loan  Documents  and  the  transactions   contemplated  thereby,  is  such  as  to  require  a  consent,  approval  or  authorization  of,  or   filing, registration or qualification with, any Governmental Authority on the part of the   Company  or  any  Borrowing  Subsidiary  as  a  condition  to  the  consummation  of  the   Transactions, which, if not obtained or effected, could reasonably be expected to have a   Material  Adverse  Effect,  or  if  so,  such  consent,  approval,  authorization,  filing,  registration or qualification has been duly obtained or effected, as the case may be, except  that under Luxembourg law, registration with the Administration de l’Enregistrement, des  Domaines et de la TVA may become necessary and registration duty (nominal or an ad  valorem duty) may be payable where any of the Loan Documents (i) is appended to a  document  (annexé à un acte)  that  must  itself  be  legally  registered  or  deposited  in  the  minutes  of  a  notary  (déposé au rang des minutes d’un notaire)  or  (ii)  must  be  legally  registered within a certain deadline (délai de rigueur) and is used (directly or by way of  reference) (A) in legal proceedings before Luxembourg courts, (B) before a Luxembourg  notary or a Luxembourg bailiff or (C) in another public act (acte public).               SECTION 5.13.  Anti-Corruption  Laws  and  Sanctions.   The  Borrowers   have implemented and maintain in effect policies and procedures reasonably designed to   promote compliance by the Borrowers, their Subsidiaries and their respective directors,   officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and   the Borrowers, their Subsidiaries and, to the knowledge of the Borrowers, their respective   officers,  employees,  directors  and  agents,  acting  in  their  capacity  as  such,  are  in   compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.    None of (a) the Borrowers, any Subsidiary or, to the knowledge of the Borrowers, any of   their  respective  directors,  officers  or  employees,  or  (b)  to  the  knowledge  of  the   Borrowers, any agent of the Borrowers or any Subsidiary that will act in any capacity in   connection  with  or  benefit  from  the  credit  facility  established  hereby,  is  a  Sanctioned   Person.                                                                                  [[3883081]]  

 

                                                                     81                                 ARTICLE VI                                                                  Affirmative Covenants               Until  the  Facility  Termination  Date,  unless  the  Required  Lenders  shall  otherwise consent in writing:               SECTION 6.01.  Financial Reports, Etc.  The Company will deliver to the  Administrative Agent, on behalf of the Lenders:                (a) as soon as available and in any event within 90 days after the end of         each fiscal year of the Company, a consolidated balance sheet of the Company         and its Subsidiaries as of the end of such fiscal year and the related consolidated         statements  of  income,  retained  earnings  and  cash  flows  for  such  fiscal  year,         setting forth in each case in comparative form the figures for the previous fiscal         year,  all  prepared  in  accordance  with  GAAP  and  containing  opinions  of         PricewaterhouseCoopers LLP or other independent certified public accountants         of nationally recognized standing, which are unqualified as to the scope of the         audit performed and as to the “going concern” status of the Company;                (b) as soon as available and in any event within 45 days after the end of         each of the first three quarters of each fiscal year of the Company, a consolidated         balance sheet of the Company and its Subsidiaries as of the end of such quarter         and the related consolidated statements of income for such quarter and of income         and cash flows for the portion of the Company’s fiscal year ended at the end of         such quarter, setting forth in each case in comparative form the figures for the         corresponding quarter and the corresponding portion of the Company’s previous         fiscal year, all certified (subject to normal year-end adjustments) as to fairness of         presentation and conformity with GAAP by an Authorized Representative;                (c) simultaneously  with  the  delivery  of  each  set  of  financial  statements         referred  to  in  clauses  (a)  and  (b)  above,  a  certificate  of  an  Authorized         Representative substantially in the form of Exhibit G hereto (i) setting forth in         reasonable detail the calculations required to establish whether the Company was         in compliance with the requirements of Sections 7.01, 7.02(j) and 7.03(f) as of         the last day of the applicable fiscal year or quarter and (ii) stating whether there         exists on the date of such certificate any Default or Event of Default and, if any         Default or Event of Default then exists, setting forth the details thereof and the         action which the Company is taking or proposes to take with respect thereto;                (d) simultaneously with the delivery of each set of financial statements         referred  to  in  clause  (a)  above,  a  statement  of  the  firm  of  independent  public         accountants which reported on such statements (i) advising whether anything has         come to their attention to cause them to believe that there existed on the date of         such  statements  any  Default  or  Event  of  Default  and  (ii)  confirming  the         calculations  set  forth  in  the  Authorized  Representative’s  certificate  delivered         simultaneously  therewith  pursuant  to  clause  (c)  above,  provided that such                                                                                                 [[3883081]]  

 

                                                                     82          statement need not be provided if it is the general practice and policy of such         firm not to provide such statements;                (e) forthwith upon the occurrence of any Default or Event of Default, a        certificate of an Authorized Representative setting forth the details thereof and         the action which the Company is taking or proposes to take with respect thereto;                (f) promptly  upon  the  mailing  thereof  to  the  shareholders  of  the         Company  generally,  copies  of  all financial  statements,  reports and  proxy         statements so mailed;                (g) promptly upon the filing thereof, copies of all registration statements         (other than the exhibits thereto and any registration statements on Form S-8 or         its equivalent) and reports on Forms 10-K, 10-Q and 8-K (or their equivalents)         which  the  Company  shall  have  filed  with  the  Securities  and  Exchange         Commission;                (h) if and when any member of the ERISA Group (i) gives or is required         to give notice to the PBGC of any “reportable event” (as defined in Section 4043         of  ERISA)  with  respect  to  any  Plan  which  might  constitute  grounds  for  a         termination  of  such  Plan  under  Title  IV  of  ERISA,  or  knows  that the plan         administrator  of  any  Plan  has  given  or  is  required  to  give  notice of any such         reportable event, a copy of the notice of such reportable event given or required         to  be  given  to  the  PBGC;  (ii)  receives  notice  that  it  has  incurred  complete  or         partial  withdrawal  liability  under  Title  IV  of  ERISA  or  notice that  any         Multiemployer Plan is insolvent, has been terminated or is in “endangered” or         “critical” status (within the meaning of Section 432 of the Code or Section 305         of  ERISA),  a  copy  of  such  notice;  (iii)  receives  notice  from  the  PBGC  under         Title  IV  of  ERISA  of  an  intent  to  terminate,  impose  liability  (other  than  for         premiums under Section 4007 of ERISA) in respect of, or appoint a trustee to         administer,  any  Plan,  a  copy  of  such  notice;  (iv)  applies  for  a  waiver  of  the         minimum  funding  standard  under  Section  412  of  the  Code,  a  copy of  such         application; (v) gives notice of intent to terminate any Plan under Section 404l(c)         of ERISA, a copy of such notice and other information filed with the PBGC; (vi)         gives notice of withdrawal from any Plan pursuant to Section 4063 of ERISA, a         copy of such notice; or (vii) fails to make any payment or contribution to any         Plan or Multiemployer Plan or in respect of any Benefit Arrangement or makes         any amendment to any Plan or Benefit Arrangement which has resulted or could         result in the imposition of a Lien or the posting of a bond or other security, a         certificate  of  an  Authorized  Representative  setting  forth  details as to such         occurrence and the action, if any, which the Company or applicable member of         the ERISA Group is required or proposes to take with respect thereto; provided         that  no  such  delivery  referred  to  in  clauses  (i)  through  (vii) above  shall  be         required unless the event described in the applicable clause could reasonably be         expected to result in a Material Adverse Effect;                                                                                                   [[3883081]]  

 

                                                                     83                (i) promptly  following  a  request  therefor,  any  documentation  or  other         information  that  a  Lender  reasonably  requests  in  order  to  comply  with  its         ongoing  obligations  under  applicable  “know  your  customer”  and  anti-money         laundering  rules  and  regulations, including  the  USA  PATRIOT  Act  and  the         Beneficial Ownership Regulation; and                (j) from time to time such additional information regarding the financial         position or business of the Company and its Subsidiaries as the Administrative         Agent or any Lender may reasonably request.   Documents required to be delivered pursuant to clauses (a), (b), (f) or (g) of this Section  may  be  delivered  electronically  and,  if  so  delivered,  shall  be deemed  to  have  been  delivered on the date on which such documents are posted (or a link thereto is provided)  (i) on  the  Company’s  website  on  the  Internet  at www.vfc.com  (or  such  other  URL  as  shall  have  been  specified  by  the  Company  to  the  Administrative Agent  in  a  written  notice),  (ii) at www.sec.gov  or  (iii) on  the  Platform,  in  each  case  so  long  as  such  documents are generally available without charge to the Administrative Agent and each  of  the  Lenders  at  such  locations;  provided  that:  (x)  the  Company  shall  deliver  paper  copies of such documents to the Administrative Agent or any Lender that requests the  Company to deliver such paper copies until a written request to cease delivering paper  copies is given by the Administrative Agent or such Lender and (y) the Company shall  notify (which may be by facsimile or electronic mail) the Administrative Agent of the  posting of any such documents and, upon request, provide to the Administrative Agent by  electronic  mail  electronic  versions  (i.e.,  soft  copies)  of  such  documents.   The  Administrative  Agent  shall  have  no  obligation  to  request  the  delivery  or  to  maintain  copies of the documents referred to above, and in any event shall have no responsibility  to  monitor  compliance  by  the  Company  with  any  such  request  for delivery,  and  each  Lender shall be solely responsible for requesting delivery to it or maintaining its copies of  such documents.   The  Company  hereby  acknowledges  that  (a)  the  Administrative  Agent  will  make  available to the Lenders and the L/C Issuers materials and/or information provided by or  on  behalf  of  the  Company  or  any  Borrowing  Subsidiary  hereunder (collectively,  the  “Company Materials”) by posting the Company Materials on the Platform and (b) certain  of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive  MNPI and who may be engaged in investment and other market-related activities with  respect to securities of the Company or any of its Subsidiaries.  The Company hereby  agrees that (w) all Company Materials that are to be made available to Public Lenders  shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean  that  the  word  “PUBLIC”  shall  appear  prominently  on  the  first  page  thereof;  (x)  by  marking  Company  Materials  “PUBLIC”,  the  Company  shall  be  deemed  to  have  authorized  the  Administrative  Agent,  the  L/C  Issuers  and  the  Lenders to treat such  Company Materials as not containing any MNPI (provided, however, that to the extent  such  Company  Materials  constitute  Information,  they  shall  be  treated  as  set  forth  in  Section 11.13); (y) all Company Materials marked “PUBLIC” are permitted to be made  available  through  a  portion  of  the  Platform  designated  “Public Investor”;  and  (z)  the  Administrative  Agent  shall  be  entitled  to  treat  any  Company  Materials  that  are  not                                                                                                 [[3883081]]  

 

                                                                      84    marked “PUBLIC” as being suitable only for posting on a portion  of  the  Platform  not   designated  “Public  Investor”.   Notwithstanding  the  foregoing,  the  Company  shall  be   under no obligation to mark any Company Materials “PUBLIC”.               SECTION 6.02.  Payment  of  Taxes.   The  Company  will  pay,  and  will   cause each Significant Subsidiary to pay, all its Tax liabilities, except (a) where the same   may be contested in good faith by appropriate proceedings or (b) where the failure to do   so  could  not  reasonably  be  expected  to  result  in  a  Material  Adverse  Effect,  and  the   Company will maintain, and will cause each Significant Subsidiary to maintain, to the   extent  required  under  GAAP  (or,  in  the  case  of  a  foreign  Significant  Subsidiary,  the   accounting standards applicable thereto), appropriate reserves for the accrual of the same.               SECTION 6.03.  Maintenance  of  Properties;  Insurance.   Except  to  the   extent that the failure to do so could not reasonably be expected to result in a Material   Adverse Effect, the Company will (a) keep, and will cause each Significant Subsidiary to   keep, all material property useful and necessary in its business in good working order and   condition,  ordinary  wear  and  tear  excepted,  and  (b)  maintain,  and  will  cause  each   Significant  Subsidiary  to  maintain  (either  in  the  name  of  the  Company  or  in  such   Significant  Subsidiary’s  own  name)  with  financially  sound  and  reputable  insurance   companies, insurance on all their property in at least such amounts and against at least   such  risks  as  are  usually  insured  against  in  the  same  general  area  by  companies  of   established repute engaged in the same or a similar business; provided that the Company   shall have the right to self-insure or use a captive insurer in order to meet such insurance   requirements so long as the Company or such captive insurer provides the Administrative   Agent and the Lenders with reasonable proof of financial responsibility.  The Company   will furnish to the Administrative Agent and the Lenders, upon written request from the   Administrative Agent, full information as to the insurance carried.                SECTION 6.04.  Compliance with Laws.  The Company will comply, and   will cause each Subsidiary to comply, in all material respects with all applicable laws,   ordinances, rules, regulations, and requirements of Governmental Authorities (including,   without limitation, Environmental Laws, ERISA, the Trading with the Enemy Act  and   each of the foreign assets control regulations of the United States Treasury Department   (31  CFR,  Subtitle  B,  Chapter  V),  the  USA  PATRIOT  Act,  the  United  States  Foreign   Corrupt Practices Act of 1977 and, in each case, the rules and regulations thereunder and   any other enabling legislation or executive orders relating thereto), except where (a) the   necessity of compliance therewith is contested in good faith by appropriate proceedings   or (b) failure to comply therewith could not reasonably be expected to result in a Material   Adverse Effect.  The Company will maintain in effect policies and procedures reasonably  designed to promote compliance by the Company, the Subsidiaries and their respective  directors,  officers,  employees  and  agents  with  Anti-Corruption Laws  and  applicable  Sanctions.               SECTION 6.05.  Books and Records.  The Company will maintain proper   books  of  record  and  account  in  which  full,  true  and  correct  entries in  conformity  with   GAAP  consistently  applied  shall  be  made  of  all  financial  transactions  and  matters   involving  the  assets  and  business  of  the  Company.   The  Company will  cause  the                                                                                 [[3883081]]  

 

                                                                      85    Subsidiaries  to  maintain  books  of  record  and  account  of  all  financial  transactions  and  matters involving the assets and business of the Subsidiaries, from which the Company  may  prepare  consolidated  financial  statements  in  conformity  with  GAAP  consistently  applied.               SECTION 6.06.  Existence.   The  Company  will,  and  will  cause  each   Borrowing Subsidiary (for so long as it shall be a Borrowing Subsidiary) to, do or cause   to be done all things reasonably necessary to preserve, renew and keep in full force and   effect  its  legal  existence;  provided  that  the  foregoing  shall  not  prohibit  any  merger,   consolidation or other transaction permitted under Section 7.04.                                  ARTICLE VII                                                                     Negative Covenants                Until  the  Facility  Termination  Date,  unless  the  Required  Lenders  shall   otherwise consent in writing:                SECTION 7.01.  Consolidated  Indebtedness  to    Consolidated   Capitalization.  The Company will not permit the ratio of Consolidated Indebtedness to   Consolidated Capitalization to be greater than 0.60 to 1.00 at any time.               SECTION 7.02.  Liens.  The Company will not, and will not permit any   Subsidiary to, incur, create or permit to exist any Lien with respect to any property or   assets now owned or hereafter acquired by the Company or any Subsidiary, other than:                (a)  Liens  existing  on  the  date  of  this  Agreement  securing  Indebtedness  outstanding  on  the  date  of  this  Agreement  in  an  aggregate  principal  amount  not  exceeding US$50,000,000;               (b)  any Lien existing on any asset of any Person at the time such Person  becomes  a  Subsidiary  (other  than  as  a  result  of  a  Division)  and not created in  contemplation of such event;               (c)  any Lien on any asset of any Person existing at the time such Person is  merged or consolidated with or into the Company or a Subsidiary and not created in  contemplation of such event;               (d)  any Lien existing on any asset prior to the acquisition thereof by the  Company or a Subsidiary and not created in contemplation of such acquisition;               (e)  any Lien on any asset securing Indebtedness incurred or assumed for  the purpose of financing all or any part of the cost of acquiring such asset, provided that   such Lien attaches to such asset concurrently with or within 180 days after the acquisition   thereof;                                                                                 [[3883081]]  

 

                                                                      86                (f)  any  Lien  arising  out  of  the refinancing,  extension,  renewal  or   refunding of any Indebtedness secured by any Lien permitted by clauses (a) through (e)   above,  provided  that  such  Indebtedness  is  not  increased  and  is not  secured  by  any   additional assets;                (g)  Liens  arising  in  the  ordinary  course  of  business  which  (i)  do  not   secure  Indebtedness,  (ii)  do  not  secure  any  obligation  in  an  amount  exceeding   US$50,000,000  and  (iii)  do  not  otherwise  in  the  aggregate  materially  detract  from  the  value of the assets subject thereto or materially impair the use thereof in the operations of  its business;               (h)  Liens  on  assets  of  a  Subsidiary  securing  Indebtedness  owed to the  Company or a Wholly Owned Subsidiary;               (i)  Liens  imposed  by  law  for  Taxes  that  are  not  yet  due  or  are  being   contested as described in Section 6.02; and                (j)  Liens  not  otherwise  permitted  by  the  foregoing  clauses  securing   Indebtedness in an aggregate principal amount at any time outstanding not to exceed 15%   of Consolidated Net Worth; provided that the sum of the aggregate principal amount of   Indebtedness  permitted  to  be  secured  by  this  clause  (j)  plus  the  aggregate  principal   amount  of  Indebtedness  incurred  in  accordance  with  Section 7.03(f)  at  any  time   outstanding shall not exceed 20% of Consolidated Net Worth.                SECTION 7.03.  Indebtedness  of  Subsidiaries.   The  Company  will not   permit  any  Subsidiary  to  incur,  create,  assume  or  permit  to  exist  any  Indebtedness,   howsoever evidenced, except:                (a)  Indebtedness  of  any  Person  outstanding  at  the  time  such  Person   becomes  a  Subsidiary  (other  than  as  a  result  of  a  Division)  and not created in   contemplation of such event;                (b)   Indebtedness  of  any  Person  outstanding  at  the  time  such  Person  is   merged  or  consolidated  with  or  into  a  Subsidiary  and  not  created  in  contemplation  of   such event;                (c)   Indebtedness secured by a Lien permitted by Section 7.02 hereof;                (d)   Indebtedness owing to the Company or a Wholly Owned Subsidiary;                (e)  Refinancing  Indebtedness  in  respect  of  Indebtedness  permitted  by   clause (a), (b) or (c) above (other than, in the case of clause (c), Refinancing Indebtedness   in respect of (i) Indebtedness referred to in Section 7.02(j) or (ii) Indebtedness referred to   in Section 7.02(h) insofar as such Refinancing Indebtedness would be owed to a Person   other than the Company or a Wholly Owned Subsidiary); and                (f)  Indebtedness not otherwise permitted by the foregoing clauses of this   Section  in  an  aggregate  outstanding  principal  amount  for  all  Subsidiaries  at  no  time                                                                                 [[3883081]]  

 

                                                                     87   exceeding  15%  of  Consolidated  Net  Worth;  provided  that  the  sum of  the  aggregate  principal  amount  of  Indebtedness  incurred  in  accordance  with  this  clause  (f)  plus  the  aggregate principal amount of Indebtedness  permitted to be secured in accordance with  Section 7.02(j) at any time outstanding shall not exceed 20% of Consolidated Net Worth.   The foregoing is subject to the further limitation that for purposes of this Section, any  preferred stock of a Subsidiary held by a Person other than the Company or a Wholly  Owned  Subsidiary  shall  be  included,  at  the  higher  of  its  voluntary  or  involuntary  liquidation value, in the Indebtedness of such Subsidiary.               SECTION 7.04.  Consolidations,  Mergers  and  Sales  of  Assets.   The  Company will not (a) consolidate with or merge with or into any other Person; provided  that the Company may consolidate with or merge with or into another Person if (i) (A)  the Company is the corporation surviving such merger and is not a subsidiary of another  Person or (B) the Person surviving such merger (the “Surviving Company”) is organized  in the United States or a jurisdiction thereof, is not a subsidiary of another Person and  assumes all of the obligations and liabilities of the Company under and in respect of this  Agreement and each other Loan Document, (ii) immediately after giving effect to such  merger, no Default or Event of Default shall have occurred and be continuing and (iii) in  the  case  of  clause  (i)(B)  above, the  Administrative  Agent  shall  have  been  given  reasonable advance notice of such transaction and shall have received such documents  and  certificates  as  the  Administrative  Agent  or  its  counsel  shall  reasonably  have  requested  relating  to  the  organization,  existence  and  good  standing  of  the  Surviving  Company  and  the  authorization  by  the  Surviving  Company  of  such assumption  of  obligations  and  liabilities,  all  in  form  and  substance  reasonably  satisfactory  to  the  Administrative Agent and its counsel; or (b) sell, lease or otherwise transfer, directly or  indirectly, all or substantially all of its assets to any other Person, except for sales, leases  and other transfers to a Wholly Owned Subsidiary.               SECTION 7.05.  Use  of  Proceeds.   The  Borrowers  will  not  request  any  Borrowing or Letter of Credit, and the Borrowers shall not directly or, to the knowledge  of the Borrowers, indirectly, use the proceeds of any Borrowing or Letter of Credit (a) in  furtherance  of  an  offer,  payment,  promise  to  pay,  or  authorization  of  the  payment  or  giving  of  money,  or  anything  else  of  value,  to  any  Person  in  violation  of  any  Anti- Corruption Laws or (b) for the purpose of funding, financing or facilitating any activities,  business or transaction of or with any Sanctioned Person, or in any Sanctioned Country,  except  to  the  extent  licensed  by  the  Office  of  Foreign  Assets  Control  of  the  U.S.  Department of the Treasury or otherwise authorized under U.S. law.                                ARTICLE VIII                                                             Events of Default and Acceleration               SECTION 8.01.  Events of Default.  If any one or more of the following  events  (herein  called  “Events  of  Default”)  shall  occur  for  any reason  whatsoever  (and  whether such occurrence shall be voluntary or involuntary or come about or be effected                                                                                                 [[3883081]]  

 

                                                                     88   by operation of law or pursuant to or in compliance with any judgment, decree or order of  any court or any order, rule or regulation of any Governmental Authority), that is to say:                (a) if  default  shall  be  made  in  the  due  and  punctual  payment  of  the         principal of any Loan when and as the same shall be due and payable, whether         pursuant to any provision of Article II or Article III, at maturity, by acceleration         or otherwise; or                (b) if  default  shall  be  made  in  the  due  and  punctual  payment  of  any         reimbursement obligation in respect of any L/C Disbursement or any amount of         interest on any Loan or other Obligation or of any fees or other amounts payable         to any of the Lenders, L/C Issuers or the Administrative Agent within five days         of the date on which the same shall be due and payable; or                (c) if  default  shall  be  made  in  the  performance  or  observance  of  the         covenants set forth in (i) Section 6.01(e) with respect to an Event of Default, (ii)         Section  6.06  with  respect  to  the legal  existence  of  the  Company  or  (iii)         Article VII; or                (d) if  a  default  shall  be  made  in  the  performance  or  observance  of, or         shall  occur  under,  any  covenant, agreement  or  provision  contained  in  this         Agreement or any other Loan Document (other than as described in clauses (a),         (b) or (c) above) and such default shall continue for 30 or more days after receipt         of  notice  of  such  default  by  an Authorized  Representative  from the         Administrative Agent or the Required Lenders; or                (e) if there shall occur (i) a default, which is not waived or cured within         any applicable period of grace, in the payment of any principal with respect to         any  Indebtedness  (other  than  the Loans  and  other  Obligations  and  other  than         Indebtedness owed to the Company or any Subsidiary) of the Company or any         Subsidiary  in  an  amount  not  less  than  US$100,000,000  in  the  aggregate         outstanding, or (ii) any event or condition, including any default in the payment         of  interest,  fees  or  other  amounts,  specified  in  any  agreement or  instrument         under  or  pursuant  to  which  any  such  Indebtedness  may  have  been issued,         created,  assumed,  guaranteed  or  secured,  and  such  event  or  condition  shall         continue for more than the period of grace, if any, therein specified, and such         event or condition shall permit the holder of any such Indebtedness (or any agent         or  trustee  acting  on  behalf  of  one  or  more  holders)  to  accelerate  the  maturity         thereof; or                 (f) if any representation or warranty contained in any Loan Document, or         any  representation,  warranty  or  statement  of  fact  in  any  writing,  certificate,         report  or  statement  at  any  time  furnished  to  the  Administrative  Agent  or  any         Lender  by  or  on  behalf  of  the  Company  or  any  Subsidiary  pursuant  to  or  in         connection  with  any  Loan  Document,  shall  be  false  or  misleading  in  any         material respect when given; or                                                                                                 [[3883081]]  

 

                                                                     89                (g) if the Company or any Significant Subsidiary shall be unable to pay         its debts generally as they become due; file a petition to take advantage of any         insolvency  statute;  make  an  assignment  for  the  benefit  of  its  creditors;         commence  a  proceeding  for  the  appointment  of  a  custodian,  receiver,  trustee,         liquidator or conservator of itself or of the whole or any substantial part of its         property;  or  file  a  petition  or  answer  seeking  liquidation,  reorganization,         arrangement or similar relief any Debtor Relief Laws; or                (h) if a court of competent jurisdiction shall enter an order, judgment or         decree appointing a custodian, receiver, trustee, liquidator or conservator of the         Company or any Significant Subsidiary or of the whole or any substantial part of         its  properties  and  such  order, judgment  or  decree  continues  unstayed  and  in         effect  for  a  period  of  60  days,  or  shall  approve  a  petition  filed against the         Company  or  any  Significant  Subsidiary  seeking  liquidation,  reorganization  or         arrangement  or  similar  relief  under  any  Debtor  Relief  Laws,  which  petition  is         not dismissed within 60 days; or if, under the provisions of any Debtor Relief         Laws, a court of competent jurisdiction shall assume custody or control of the         Company or any Significant Subsidiary or of the whole or any substantial part of         its  properties,  which  control  is  not  relinquished  within  60  days; or if there is         commenced against the Company or any Significant Subsidiary any proceeding         or  petition  seeking  liquidation, reorganization,  arrangement  or  similar  relief         under  any  Debtor  Relief  Laws,  which  proceeding  or  petition  remains         undismissed  for  a  period  of  60  days;  or  if  the  Company  or  any  Significant         Subsidiary  takes  any  action  to  indicate  its  consent  to  or  approval  of  any  such         proceeding or petition; or                (i) if  (i)  any  judgment  or  order  where  the  amount  not  covered  by         insurance (or the amount as to which the insurer denies liability) is in excess of         US$100,000,000 is rendered against the Company or any Subsidiary, or (ii) there         is any attachment, injunction or execution against any of the Company’s or the         Subsidiaries’ properties for any amount in excess of US$100,000,000, and such         judgment,  attachment,  injunction  or  execution  remains  unpaid,  unstayed,         undischarged, unbonded or undismissed for a period of thirty (30) days; or                (j) if  any  member  of  the  ERISA  Group  shall  fail  to  pay  when  due  an         amount or amounts aggregating in excess of US$100,000,000 which it shall have         become liable to pay under Title IV of ERISA; or notice of intent to terminate a         Material  Plan  shall  be  filed  under  Title  IV  or  ERISA  by  any  member  of  the         ERISA Group, any plan administrator or any combination of the foregoing; or         the PBGC shall institute proceedings under Title IV of ERISA to terminate, to         impose  liability  (other  than  for  premiums  under  Section 4007  of ERISA) in         respect of, or to cause a trustee to be appointed to administer any Material Plan;         or  a  condition  shall  exist  by  reason  of  which  the  PBGC  would  be  entitled  to         obtain a decree adjudicating that any Material Plan must be terminated; or there         shall  occur  a  complete  or  partial  withdrawal  from,  or  a  default,  within  the         meaning  of  Section 4219(c)(5)  of  ERISA,  with  respect  to,  one  or more         Multiemployer Plans which could reasonably be expected to cause one or more                                                                                                 [[3883081]]  

 

                                                                     90          members  of  the  ERISA  Group  to  incur  a  payment  obligation  in  excess  of         US$100,000,000; or                (k) if a Change of Control shall occur;   then,  and  in  any  such  event  and  at  any  time  thereafter  during  the  continuance  of  such  event, if such Event of Default or any other Event of Default shall have not been waived,                     (i)  either  or  both  of  the  following  actions  may  be  taken:  the        Administrative Agent may with the consent of the Required Lenders, and at the        direction of the Required Lenders shall, (A) declare any obligation of the Lenders        to make further Loans, and of the L/C Issuers to issue, renew, extend or amend        Letters of Credit, terminated, whereupon the obligation of each Lender to make        further Loans hereunder, and of the L/C Issuers to issue, renew, extend or amend        Letters  of  Credit  hereunder,  shall  terminate  immediately,  and  (B)  declare  by        notice to the Company any or all of the Obligations to be immediately due and        payable,  and  the  same,  including  all  interest  accrued  thereon  and  all  other        obligations of the Company and each Borrowing Subsidiary to the Administrative        Agent, the Lenders and the L/C Issuers, shall forthwith become immediately due        and  payable  without  presentment,  demand,  protest,  notice  or  other  formality  of        any kind, all of which are hereby expressly waived, anything contained herein or        in  any  instrument  evidencing  the  Obligations  to  the  contrary  notwithstanding;        provided, however, that notwithstanding the above, if there shall occur an Event        of  Default  under  clause  (g)  or  (h)  above  with  respect  to  a  Borrower,  then  the        obligation  of  the  Lenders  to  make  Loans  hereunder,  and  of  the  L/C Issuers to        issue,  renew,  extend  or  amend  Letters  of  Credit  hereunder,  shall  automatically        terminate and any and all of the Obligations shall be immediately due and payable        without the necessity of any action by the Administrative Agent or the Required        Lenders or notice to the Administrative Agent or the Lenders; and                     (ii)  the  Administrative  Agent  may  with  the  consent  of  the        Required Lenders, and at the direction of the Required Lenders shall, require that        the Borrowers cash collateralize all L/C Exposure (in an amount equal to the then        outstanding L/C Exposure) plus the Letter of Credit fees payable under Section        2.11(b) with respect to each then outstanding Letter of Credit (calculated at the        rate then in effect for the period from the date of such cash collateralization until        the expiry date of each such Letter of Credit) in accordance with the procedures        set forth in Section 2.05(j); and                     (iii)  the  Administrative  Agent  and  each  of  the  Lenders  and  L/C        Issuers  shall  have  all  of  the  rights  and  remedies  available  under  the  Loan        Documents or under any applicable law.               SECTION 8.02.  Administrative Agent to Act.  In case any one or more  Events of Default shall occur and not have been waived, the Administrative Agent may,  and at the direction of the Required Lenders shall, proceed to protect and enforce their  rights or remedies either by suit in equity or by action at law, or both, whether for the                                                                                                 [[3883081]]  

 

                                                                      91    specific performance of any covenant, agreement or other provision contained herein or   in any other Loan Document, or to enforce the payment of the Obligations or any other   legal or equitable right or remedy.                SECTION 8.03.  Cumulative Rights.  No right or remedy herein conferred   upon the Lenders, the L/C Issuers or the Administrative Agent is intended to be exclusive   of  any  other  rights  or  remedies  contained  herein  or  in  any  other  Loan  Document,  and  every such right or remedy shall be cumulative and shall be in addition to every other  such right or remedy contained herein and therein or now or hereafter existing at law or  in equity or by statute, or otherwise.               SECTION 8.04.  No Waiver.  No course of dealing between the Company   or any Borrowing Subsidiary, on the one hand, and any Lender, any L/C Issuer or the   Administrative  Agent,  on  the  other  hand,  or  any  failure  or  delay  on  the  part  of  any   Lender, any L/C Issuer or the Administrative Agent in exercising any rights or remedies   under any Loan Document or otherwise available to it, shall operate as a waiver of any   rights  or  remedies,  and  no  single  or  partial  exercise  of  any  rights  or  remedies  shall   operate as a waiver or preclude the exercise of any other rights or remedies hereunder or   of the same right or remedy on a future occasion.                SECTION 8.05.  Allocation  of  Proceeds.   If  an  Event  of  Default has   occurred  and  not  been  waived,  and  the  maturity  of  the  Loans  has  been  accelerated   pursuant  to  this  Article VIII,  all  payments  received  by  the  Administrative  Agent   hereunder  in  respect  of  any  principal  of  or  interest  on  the  Obligations,  or  any  other   amounts  payable  by  the  Company  or  the  Borrowing  Subsidiaries  hereunder,  shall  be   applied by the Administrative Agent in the following order:                (a)  amounts  due  to  the  Administrative  Agent,  the  Lenders  and  the  L/C   Issuers pursuant to Section 2.11 and Section 11.05;                (b)  payments of interest on Loans and interest on L/C Disbursements to   be applied for the ratable benefit of the Lenders (based on the amounts accrued for the   account of each Lender at such time) and the L/C Issuers;                (c)  payments  of  principal  of  Loans  and  reimbursement  of  L/C   Disbursements, to be applied for the ratable benefit of the Lenders (based on the amounts   owing to each Lender at such time) and the L/C Issuers;                (d)  amounts  due  to  the  Administrative  Agent,  the  L/C  Issuers  and  the   Lenders pursuant to Section 11.09;                (e)  payments of all other amounts due under any of the Loan Documents,   if any, to be applied for the ratable benefit of the parties entitled thereto;                (f)  any surplus remaining after application as provided for herein, to the   applicable Borrowers or otherwise as may be required by applicable law.                                                                                  [[3883081]]  

 

                                                                     92                                 ARTICLE IX                                                                 The Administrative Agent               SECTION 9.01.  Appointment  and  Authority.   Each  of  the  Lenders and  the  L/C  Issuers  hereby  irrevocably  appoints  JPMCB  to  act  on  its  behalf  as  the  Administrative Agent hereunder and under the other Loan Documents and authorizes the  Administrative Agent to take such actions on its behalf and to exercise such powers as  are delegated to the Administrative Agent by the terms hereof and thereof, together with  such  actions  and  powers  as  are  reasonably  incidental  thereto.  Except  as  expressly  set  forth  in  Section  9.06,  the  provisions  of  this  Article  are  solely  for  the  benefit  of  the  Administrative Agent, the Lenders and the L/C Issuers, and the Borrowers shall have no  rights as third party beneficiaries of any of such provisions.               SECTION 9.02.  Rights  as  Lenders.   The  Person  serving  as  the  Administrative Agent hereunder shall, if it shall be a Lender or an L/C Issuer, have the  same rights and powers in its capacity as a Lender or an L/C Issuer as any other Lender  or L/C Issuer and may exercise the same as though it were not the Administrative Agent  and  the  term  “Lender”  or  “L/C  Issuer”  shall,  unless  otherwise  expressly  indicated  or  unless the context otherwise requires, include the Person serving as the Administrative  Agent  hereunder  in  its  individual capacity.  Such Person and its  Affiliates  may  accept  deposits  from,  lend  money  to,  act  as  the  financial  advisor  or  in  any  other  advisory  capacity  for  and  generally  engage  in  any  kind  of  business  with the  Company  or  any  Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent  hereunder and without any duty to account therefor to the Lenders or the L/C Issuers.               SECTION 9.03.  Exculpatory Provisions.  The Administrative Agent shall  not have any duties or obligations except those expressly set forth herein and in the other  Loan  Documents.  Without  limiting  the  generality  of  the  foregoing,  the  Administrative  Agent:                (a) shall  not  be  subject  to  any  fiduciary  or  other  implied  duties,         regardless of whether a Default or  Event  of  Default  has  occurred  and  is         continuing  (and  it  is  understood  and  agreed  that  the  use  of  the  term  “agent”         herein  or  in  any  other  Loan  Documents  (or  any  other  similar  term)  with         reference to the Administrative Agent is not intended to connote any fiduciary or         other  implied  (or  express)  obligations  arising  under  agency  doctrine  of  any         applicable law, and that such term is used as a matter of market custom and is         intended  to  create  or  reflect  only  an  administrative  relationship  between         contracting parties);                (b) shall not have any duty to take any discretionary action or exercise         any  discretionary  powers,  except  discretionary  rights  and  powers  expressly         contemplated  hereby  or  by  the  other  Loan  Documents  that  the  Administrative         Agent is required to exercise as directed in writing by the Required Lenders (or         such other number or percentage of the Lenders as shall be expressly provided         for  herein  or  in  the  other  Loan  Documents),  provided  that  the  Administrative                                                                                                 [[3883081]]  

 

                                                                      93           Agent shall not be required to take any action that, in its opinion or the opinion          of  its  counsel,  may  expose  it  to  liability  or  that  is  contrary to  any  Loan          Document or applicable law; and                 (c) shall not, except as expressly set forth herein and in the other Loan          Documents, have any duty to disclose, and shall not be liable for the failure to          disclose, any information relating to the Company or any of its Affiliates that is          communicated to or obtained by the Person serving as the Administrative Agent          or any of its Affiliates in any capacity.                The Administrative Agent shall not be liable for any action taken or not   taken by it (i) with the consent or at the request of the Required Lenders (or such other   number  or  percentage  of  the  Lenders  as  shall  be  necessary,  or  as  the  Administrative   Agent shall believe in good faith to be necessary, under the circumstances as provided in   Sections 8.01 and 11.06) or (ii) in the absence of a court of competent jurisdiction having   determined,  in  a  final  and  non-appealable  judgment,  that  the  Administrative  Agent’s   action or inaction constituted gross negligence or willful misconduct on the part of the   Administrative Agent.  The Administrative Agent shall be deemed not to have knowledge   of  any  Default  or  Event  of  Default  unless  and  until  notice  (stating  it  is  a  “notice  of   default”)  describing  such  Default  or  Event  of  Default  is  given to  the  Administrative   Agent by a Borrower, a Lender or an L/C Issuer.                The Administrative Agent shall not be responsible for or have any duty to   ascertain  or  inquire  into  (i)  any statement,  warranty  or  representation  made  in  or  in   connection  with  this  Agreement  or  any  other  Loan  Document,  (ii) the contents of any   certificate, report or other document delivered hereunder or thereunder or in connection   herewith  or  therewith,  (iii)  the  performance  or  observance  of  any  of  the  covenants,   agreements or other terms or conditions set forth herein or therein or the occurrence of   any  Default  or  Event  of  Default,  (iv)  the  sufficiency,  validity,  enforceability,   effectiveness or genuineness of this Agreement, any other Loan Document or any other   agreement, instrument or document or (v) the satisfaction of any condition set forth in   Article IV or elsewhere herein, other than to confirm receipt of items expressly required   to be delivered to the Administrative Agent.                SECTION 9.04.  Reliance by Administrative Agent.  The Administrative   Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any   notice,  request,  certificate,  consent,  statement,  instrument,  document  or  other  writing   (including  any  e-mail  transmission  of  a  .pdf  or  similar  electronic  copy  of  any  such   document or other writing or any electronic message, Internet or intranet website posting  or  other  distribution)  believed by  it  to  be  genuine  and  to  have  been  signed,  sent  or  otherwise authenticated by the proper Person.  The Administrative Agent also may rely  upon  any  statement  made  to  it  orally  or  by  telephone  and  believed  by  it  to  have  been  made  by  the  proper  Person,  and  shall  not  incur  any  liability  for  relying  thereon.   In  determining compliance with any condition hereunder to the making of a Loan, or the  issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a  Lender  or  L/C  Issuer,  the  Administrative  Agent  may  presume  that  such  condition  is  satisfactory  to  such  Lender  or  L/C  Issuer  unless  the  Administrative  Agent  shall  have                                                                                 [[3883081]]  

 

                                                                      94    received notice to the contrary from such Lender or L/C Issuer prior to the making of   such  Loan  or  the  issuance  of  such  Letter  of  Credit.   The  Administrative  Agent  may   consult  with  legal  counsel  (who  may  be  counsel  for  a  Borrower),  independent   accountants and other experts selected by it, and shall not be liable for any action taken or   not taken by it in accordance with the advice of any such counsel, accountants or experts.                SECTION 9.05.  Delegation  of  Duties.   The  Administrative  Agent may   perform any and all of its duties and exercise its rights and powers hereunder or under   any other Loan Document by or through any one or more sub-agents appointed by the   Administrative Agent.  The Administrative Agent and any such sub-agent may perform   any and all of its duties and exercise its rights and powers by or through their respective   Related Parties.  The exculpatory provisions of this Article shall apply to any such sub-  agent and to the Related Parties of the Administrative Agent and any such sub-agent, and   shall  apply  to  the  respective  activities  of  all  such  Persons  in  connection  with  the   syndication  of  the  credit  facilities  provided  for  herein  as  well  as  activities  as  the   Administrative Agent.                SECTION 9.06.  Resignation  of Administrative  Agent.   The   Administrative Agent may at any time give notice of its resignation to the Lenders, the   L/C  Issuers  and  the  Company.   Upon  receipt  of  any  such  notice  of  resignation,  the   Required  Lenders  shall  have  the  right,  with  the  consent  of  the Company,  to  appoint  a   successor, which shall be a bank with an office in the United States, or an Affiliate of any   such bank with an office in the United States.  If no such successor shall have been so   appointed by the Required Lenders and shall have accepted such appointment within 30   days  after  the  retiring  Administrative  Agent  gives  notice  of  its  resignation,  then  the   retiring Administrative Agent may on behalf of the Lenders and the L/C Issuers, and with   the  consent  of  the  Company,  appoint  a  successor  Administrative Agent  meeting  the   qualifications  set  forth  above;  provided  that  if  the  retiring  Administrative  Agent  shall   notify  the  Company  and  the  Lenders  that  no  qualifying  Person  has  accepted  such   appointment, then such resignation shall nonetheless become effective in accordance with  such notice and (1) the retiring Administrative Agent shall be discharged from its duties   and  obligations  hereunder  and  under  the  other  Loan  Documents  and  (2)  all  payments,   communications and determinations provided to be made by, to or through the retiring   Administrative Agent shall instead be made by or to each Lender and L/C Issuer directly,   until  such  time  as  the  Required  Lenders  appoint  a  successor  Administrative  Agent  as   provided for above in this Section.  Upon the acceptance of a successor’s appointment as   Administrative Agent hereunder, such successor shall succeed to and become vested with   all of the rights, powers, privileges and duties of the retiring (or retired) Administrative   Agent, and the retiring Administrative Agent shall be discharged from all of its duties and   obligations  hereunder  or  under  the  other  Loan  Documents  (if  not  already  discharged   therefrom  as  provided  above  in  this  Section).   The  fees  payable  by  the  Company  to  a   successor  Administrative  Agent  shall  be  the  same  as  those  payable  to  its  predecessor   unless  otherwise  agreed  between  the  Company  and  such  successor.   After  the  retiring   Administrative Agent’s resignation hereunder and under the other Loan Documents, the   provisions of this Article and Sections 11.05 and 11.09 shall continue in effect for the   benefit of the retiring Administrative Agent, its sub-agents and their respective Related                                                                                 [[3883081]]  

 

                                                                      95    Parties in respect of any actions taken or omitted to be taken by any of them while the   retiring Administrative Agent was acting as the retiring Administrative Agent.                If  the  Person  serving  as  the  Administrative  Agent  has  become,  or  any   Person as to which the Administrative Agent is, directly or indirectly, a subsidiary has   become,  the  subject  of  a  Bankruptcy  Event,  the  Required  Lenders may, to the extent   permitted  by  applicable  laws,  by  notice  in  writing  to  the  Company  and  such  Person,   remove  such  Person  as  Administrative  Agent  and,  with  the  consent  of  the  Company,   appoint  a  successor,  which  shall  be  a  bank  with  an  office  in  the  United  States,  or  an   Affiliate of any such bank with an office in the United States.  If no such successor shall   have been appointed by the Required Lenders and shall have accepted such appointment   within  30 days  (or  such  earlier  day  as  shall  be  agreed  by  the  Required  Lenders)  (the   “Removal  Effective  Date”),  then  such  removal  shall  nonetheless become  effective  in   accordance with such notice on the Removal Effective Date.                SECTION 9.07.  Non-Reliance  on  Agents  and  Other  Lenders.   Each   Lender and L/C Issuer acknowledges that it has, independently and without reliance upon   the  Administrative  Agent,  any  Arranger  or  any  other  Lender  or  any  of  their  Related   Parties 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 Lender and L/C   Issuer  also  acknowledges  that  it  will,  independently  and  without  reliance  upon  the   Administrative Agent, any Arranger or any other Lender or any of their Related Parties  and  based  on  such  documents  and  information  as  it  shall  from  time  to  time  deem  appropriate, continue to make its own decisions in taking or not taking action under or  based upon this Agreement, any other Loan Document or any related agreement or any  document furnished hereunder or thereunder.               SECTION 9.08.  No  Other  Duties,  Etc.   Anything  herein  to  the  contrary   notwithstanding,  none  of  the  Arrangers,  bookrunners,  syndication  agents  or   documentation agents listed on the cover page hereof shall have any powers, duties or   responsibilities under this Agreement or any of the other Loan Documents, except in its   capacity, as applicable, as Administrative Agent, a Lender, a Swing Line Lender or an   L/C Issuer hereunder.                SECTION 9.09.  Administrative Agent May File Proofs of Claim.  In case   of the pendency of any proceeding under any Debtor Relief Law or any other judicial   proceeding relative to any Borrower, the Administrative Agent (irrespective of whether   the principal of any Loan or L/C Disbursement shall then be due and payable as herein   expressed or by declaration or otherwise and irrespective of whether the Administrative   Agent shall have made any demand on such Borrower) shall be entitled and empowered,   by intervention in such proceeding or otherwise                  (a) to file and prove a claim for the whole amount of the principal and         interest  owing  and  unpaid  in  respect  of  the  Loans,  L/C  Disbursements  and  all         other Obligations that are owing and unpaid and to file such other documents as         may be necessary or advisable in order to have the claims of the Lenders, the         L/C  Issuers  and  the  Administrative  Agent  (including  any  claim  for  the                                                                                 [[3883081]]  

 

                                                                      96           reasonable compensation, expenses, disbursements and advances of the Lenders,          the  L/C  Issuers  and  the  Administrative  Agent  and  their  respective  agents  and          counsel  and  all  other  amounts  due  the  Lenders,  the  L/C  Issuers and  the          Administrative Agent hereunder) allowed in such judicial proceeding; and                 (b) to  collect  and  receive  any  monies  or  other  property  payable  or         deliverable on any such claims and to distribute the same;   and  any  custodian,  receiver,  assignee,  trustee,  liquidator,  sequestrator  or  other  similar  official in any such proceeding is hereby authorized by each Lender and L/C Issuer to  make  such  payments  to  the  Administrative  Agent  and,  in  the  event  that  the  Administrative  Agent  shall  consent  to  the  making  of  such  payments  directly  to  the  Lenders and the L/C Issuers, to pay to the Administrative Agent any amount due for the  reasonable  compensation,  expenses,  disbursements  and  advances  of  the  Administrative  Agent and their agents and counsel, and any other amounts due the Administrative Agent  hereunder.               Nothing contained herein shall be deemed to authorize the Administrative  Agent to authorize or consent to or accept or adopt on behalf of any Lender or L/C Issuer  any  plan  of  reorganization,  arrangement,  adjustment  or  composition  affecting  the  Obligations  or  the  rights  of  any  Lender  or  L/C  Issuer  to  authorize  the  Administrative  Agent to vote in respect of the claim of any Lender or L/C Issuer in any such proceeding.               SECTION 9.10.  Certain ERISA Matters.                (a)  Each Lender (x) represents and warrants, as of the date such Person   became a Lender party hereto, to, and (y) covenants, from the date such Person became a   Lender party hereto to the date such Person ceases being a Lender party hereto, for the   benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the   benefit of any Borrower, that at least one of the following is and will be true:                 (i) such Lender is not using “plan assets” (within the meaning of Section         3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such         Lender’s entrance into, participation in, administration of and performance of the         Loans, the Letters of Credit, the Commitments or this Agreement,                 (ii) the transaction exemption set forth in one or more PTEs, such as PTE         84-14  (a  class  exemption  for  certain  transactions  determined  by  independent         qualified professional asset managers), PTE 95-60 (a class exemption for certain         transactions  involving  insurance  company  general  accounts),  PTE  90-1  (a  class         exemption for certain transactions involving insurance company pooled separate         accounts), PTE 91-38 (a class exemption for certain transactions involving bank         collective  investment  funds)  or  PTE  96-23  (a  class  exemption  for  certain         transactions determined by in-house asset managers), is applicable with respect to         such Lender’s entrance into, participation in, administration of and performance         of the Loans, the Letters of Credit, the Commitments and this Agreement,                                                                                  [[3883081]]  

 

                                                                      97                (iii) (A)  such  Lender  is  an  investment  fund  managed  by  a  “Qualified         Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B)         such  Qualified  Professional  Asset Manager  made  the  investment  decision  on        behalf  of  such  Lender  to  enter  into,  participate  in,  administer  and  perform  the        Loans,  the  Letters  of  Credit,  the  Commitments  and  this  Agreement,  (C)  the        entrance  into,  participation  in,  administration  of  and  performance  of  the  Loans,        the  Letters  of  Credit,  the  Commitments  and  this  Agreement  satisfies  the        requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the        best  knowledge  of  such  Lender,  the  requirements  of  subsection  (a) of Part I of        PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation        in,  administration  of  and  performance  of  the  Loans,  the  Letters of Credit, the        Commitments and this Agreement, or                (iv) such other representation, warranty and covenant as may be agreed in        writing between the Administrative Agent, in its sole discretion, and such Lender.                (b)  In  addition,  unless  either  (1)  sub-clause  (i)  in  paragraph (a) of this  Section  is  true  with  respect  to  a  Lender  or  (2)  a  Lender  has  provided  another  representation, warranty and covenant in accordance with sub-clause (iv) in paragraph (a)  of  this  Section,  such  Lender  further  (x)  represents  and  warrants, as of the date such  Person became a Lender party hereto, to, and (y) covenants, from the date such Person   became a Lender party hereto to the date such Person ceases being a Lender party hereto,   for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for   the benefit of any Borrower, that the Administrative Agent is not a fiduciary with respect   to  the  assets  of  such  Lender  involved  in  such  Lender’s  entrance  into,  participation  in,   administration of and performance of the Loans, the Letters of Credit, the Commitments   and this Agreement (including in connection with the reservation or exercise of any rights   by  the  Administrative  Agent  under  this  Agreement,  any  Loan  Document  or  any   documents related hereto or thereto).                                   ARTICLE X                                                                         Guarantee                SECTION 10.01.  Guarantee.   (a)  To  induce  the  Lenders  and  the L/C   Issuers  to  execute  and deliver  this  Agreement  and  to  make  the  Loans  and  to  issue  the   Letters  of  Credit  hereunder,  and  in  consideration  thereof,  the Company  hereby   unconditionally and irrevocably guarantees to the Administrative Agent, for the ratable   benefit  of  the  Administrative  Agent,  the  Lenders,  the  L/C  Issuers  and  their  respective   successors,  indorsees  and  assigns,  the  prompt  and  complete  payment  and  performance   when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations   of the Borrowing Subsidiaries.                (b)  The  guarantee  contained  in  this  Article X  shall  remain  in full  force   and  effect  and  be  binding  in  accordance  with  and  to  the  extent of  its  terms  upon  the   Company  and  the  successors  and  assigns  thereof,  and  shall  inure  to  the  benefit  of  the                                                                                 [[3883081]]  

 

                                                                      98    Administrative  Agent,  the  Lenders,  the  L/C  Issuers  and  their  successors  and  permitted   assigns, until all the Obligations of the Borrowing Subsidiaries shall have been satisfied   by payment in full and the Commitments shall be terminated, notwithstanding that from   time to time during the term of this Agreement the Borrowing Subsidiaries may be free   from any Obligations.                (c)  The  Company  further  agrees  that  the  guarantee  contained  in this   Article X constitutes a guarantee of payment when due and not of collection, and waives   any right to require that any resort be had by the Administrative Agent, any Lender or   any L/C Issuer to any security held for payment of the Obligations or to any balance of   any deposit account or credit on the books of the Administrative Agent, any Lender or   any L/C Issuer in favor of any Borrower or any other Person.                SECTION 10.02.  No  Subrogation.   Notwithstanding  any  payment  made   by the Company hereunder or any set-off or application of funds of the Company by the   Administrative Agent, any L/C Issuer or any Lender, the Company shall not be entitled to   be subrogated to any of the rights of the Administrative Agent, any L/C Issuer or any   Lender against any Borrowing Subsidiary or any collateral security or guarantee or right   of offset held by the Administrative Agent, any L/C Issuer or any Lender for the payment   of  the  Obligations  of  the  Borrowing  Subsidiaries,  nor  shall  the  Company  seek  or  be   entitled  to  seek  any  contribution  or  reimbursement  from  any  Borrowing  Subsidiary  in   respect  of  payments  made  by  the  Company  hereunder,  until  all  amounts  owing  to  the   Administrative Agent, the L/C Issuers and the Lenders by any Borrowing Subsidiary on  account  of  the  Obligations  of  the  Borrowing  Subsidiaries  are  paid  in  full  and  the  Commitments are terminated. If any amount shall be paid to the Company on account of  such  subrogation  rights  at  any  time  when  all  of  the  Obligations  of  the  Borrowing  Subsidiaries  shall  not  have  been  paid  in  full  or  the  Commitments  shall  not  have  been  terminated,  such  amount  shall  be  held  by  the  Company  in  trust  for  the  Administrative  Agent,  the  L/C  Issuers  and  the  Lenders  and  shall,  forthwith  upon  receipt  by  the  Company, be turned over to the Administrative Agent in the exact form received by the  Company (duly indorsed by the Company to the Administrative Agent, if required), to be  applied  against  the  Obligations  of  the  Borrowing  Subsidiaries, whether  matured  or  unmatured, in such order as the Administrative Agent may determine.               SECTION 10.03.  Amendments, etc. with respect to the Obligations.  The   Company shall remain obligated hereunder notwithstanding that, without any reservation  of rights against the Company and without notice to or further assent by the Company,  any demand for payment of any of the Obligations of any Borrowing Subsidiary made by  the  Administrative  Agent,  any  L/C  Issuer  or  any  Lender  may  be  rescinded  by  the  Administrative Agent, such L/C Issuer or such Lender and any of the Obligations of any  Borrowing  Subsidiary  continued,  and  the  Obligations  of  any  Borrowing  Subsidiary,  or  the liability of any other Person upon or for any part thereof, or any collateral security or  guarantee therefor or right of offset with respect thereto, may, from time to time, in whole  or in part, be renewed, extended, amended, modified, accelerated, compromised, waived,  surrendered or released by the Administrative Agent, any L/C Issuer or any Lender, and  this Agreement and any other documents executed and delivered in connection therewith  may be amended, modified, supplemented or terminated, in whole or in part, including                                                                                 [[3883081]]  

 

                                                                      99    with  respect  to  any  condition  precedent,  as  the  Administrative Agent  (or  the  Required   Lenders or all of the Lenders and the L/C Issuers, as the case may  be)  may  deem   advisable from time to time, and any collateral security, guarantee or right of offset at any   time held by the Administrative Agent, any L/C Issuer or any Lender for the payment of   the  Obligations  of  any  Borrowing  Subsidiary  may  be  sold,  exchanged,  waived,   surrendered  or  released.   None  of  the  Administrative  Agent,  the L/C Issuers or the   Lenders  shall  have  any obligation to  protect,  secure,  perfect  or  insure  any  Lien  at  any   time  held  by  it  as  security  for  the  Obligations of  any  Borrowing  Subsidiary  or  for  the   guarantee contained in this Article X or any property subject thereto.                SECTION 10.04.  Guarantee  Absolute  and  Unconditional.   Except  as   otherwise  required  by  this  Agreement,  the  Company  waives  any  and  all  notice  of  the   creation,  renewal,  extension  or  accrual  of  any  of  the  Obligations  of  any  Borrowing   Subsidiary and notice of or proof of reliance by the Administrative Agent, any L/C Issuer   or  any  Lender  upon  the  guarantee  contained  in  this  Article X  or  acceptance  of  the   guarantee contained in this Article X; the Obligations of any Borrowing Subsidiary, and   any of them, shall conclusively be deemed to have been created, contracted or incurred,   or renewed, extended, amended or waived, in reliance upon the guarantee contained in   this Article X; and all dealings between the Borrowing Subsidiaries and the Company, on   the one hand, and the Administrative Agent, the L/C Issuers and the Lenders, on the other   hand,  likewise  shall  be  conclusively  presumed  to  have  been  had or  consummated  in   reliance upon the guarantee contained in this Article X. To the fullest extent permitted by   applicable law, the Company waives diligence, presentment, protest, demand for payment   and  notice  of  default  or  nonpayment  to  or  upon  any  Borrowing  Subsidiary  or  the   Company  with  respect  to  the  Obligations  of  any  Borrowing  Subsidiary.  The  Company   understands and agrees that the guarantee contained in this Article X shall be construed   as  a  continuing,  absolute  and  unconditional  guarantee  of  payment  without  regard  to   (a) the validity or enforceability of the obligations of the Borrowing Subsidiaries under   this Agreement, any of the Obligations of any of the Borrowing Subsidiaries or any other   collateral security therefor or guarantee or right of offset with respect thereto at any time   or from time to time held by the Administrative Agent, any L/C Issuer or any Lender,   (b) any defense, set-off or counterclaim (other than a defense of payment or performance)   which may at any time be available to or be asserted by any Borrowing Subsidiary or any   other Person against the Administrative Agent, any L/C Issuer or any Lender, (c) any law   or regulation of any jurisdiction, or any other event, affecting any material term of any   Obligation of the Borrowing Subsidiaries or (d) any other circumstance whatsoever (with   or without notice to or knowledge of the Borrowing Subsidiaries or the Company) which   constitutes,  or  might  be  construed  to  constitute,  an  equitable or  legal  discharge  of  the   Company  or  the  Borrowing  Subsidiaries  for  the  Obligations  of  any  Borrowing   Subsidiary,  or  of  the  Company  under  the  guarantee  contained  in this  Article X,  in   bankruptcy or in any other instance.  When making any demand hereunder or otherwise   pursuing  its  rights  and  remedies  hereunder  against  the  Company,  the  Administrative  Agent, any L/C Issuer or any Lender may, but shall be under no obligation to, make a  similar demand on or otherwise pursue such rights and remedies as it may have against  any  Borrowing  Subsidiary  or  any  other  Person  or  against  any  collateral  security  or  guarantee  for  the  Obligations  of  any  Borrowing  Subsidiary  or  any  right  of  offset  with  respect  thereto,  and  any  failure  by  the  Administrative  Agent,  any  L/C  Issuer  or  any                                                                                [[3883081]]  

 

                                                                     100    Lender to make any such demand, to pursue such other rights or remedies or to collect   any payments from the Borrowing Subsidiaries or any other Person or to realize upon any   such collateral security or guarantee or to exercise any such right of offset, or any release   of  any  Borrowing  Subsidiary  or any  other  Person  or  any  such  collateral  security,  guarantee or right of offset, shall not relieve the Company of any obligation or liability  hereunder,  and  shall  not  impair  or  affect  the  rights  and  remedies,  whether  express,  implied or available as a matter of law, of the Administrative Agent, any L/C Issuer or  any Lender against the Company.  For the purposes hereof “demand” shall include the  commencement and continuance of any legal proceedings.               SECTION 10.05.  Reinstatement.   The  guarantee  contained  in  this   Article X shall continue to be effective, or be reinstated, as the case may be, if at any time   payment, or any part thereof, of any of the Obligations of any Borrowing Subsidiary is   rescinded or must otherwise be restored or returned by the Administrative Agent, any L/C   Issuer  or  any  Lender  upon  the  insolvency,  bankruptcy,  dissolution,  liquidation  or   reorganization of any Borrowing Subsidiary, or upon or as a result of the appointment of  a receiver, intervenor or conservator of, or trustee or similar officer for, any Borrowing  Subsidiary  or  any  substantial  part  of  its  property,  or  otherwise,  all  as  though  such  payments had not been made.               SECTION 10.06.  Payments.   The  Company  hereby  guarantees  that   payments  hereunder  will  be  paid  to  the  Administrative  Agent  without  set-off  or   counterclaim in the applicable currency at the office of the Administrative Agent set forth   in Section 11.02.                SECTION 10.07.  Independent  Obligations.   The  obligations  of  the   Company  under  the  guarantee  contained  in  this  Article X  are  independent  of  the   obligations  of  the  Borrowing  Subsidiaries,  and  a  separate  action  or  actions  may  be   brought and prosecuted against the Company whether or not any Borrowing Subsidiary is   joined in any such action or actions. The Company waives, to the fullest extent permitted   by  law,  the  benefit  of  any  statute  of  limitations  affecting  its  liability  hereunder  or  the   enforcement thereof.                                  ARTICLE XI                                                                        Miscellaneous                SECTION 11.01.  Assignments and Participations.  (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 permitted hereby (including any Affiliate of any   L/C Issuer that issues any Letter of Credit), except that (i) other than, in the case of any   Borrowing Subsidiary, as expressly provided in the last sentence of Section 2.14 or, in   the  case  of  the  Company,  pursuant  to  a  consolidation  or  merger not  prohibited  under   Section  7.04,  no  Borrower  may  assign  or  otherwise  transfer  any of  its  rights  or   obligations hereunder without the prior written consent of the Administrative Agent and   each  Lender,  and  (ii)  no  Lender  may  assign  or  otherwise  transfer  any  of  its  rights  or                                                                                 [[3883081]]  

 

                                                                     101    obligations  hereunder  except  (A) to  an  Eligible  Assignee  in  accordance  with  the   provisions  of  subsection  (b)  of  this Section, (B)  by  way  of  participation  in  accordance   with  the  provisions  of  subsection  (d)  of  this  Section,  or  (C)  by  way  of  pledge  or   assignment of a security interest subject to the restrictions of subsection (f) of this Section  (and  any  other  attempted  assignment  or  transfer  by  any  party  hereto  shall  be  null  and  void).   Nothing  in  this  Agreement,  expressed  or  implied,  shall be  construed  to  confer  upon  any  Person  (other  than  the  parties  hereto,  their  respective  successors  and  assigns  permitted  hereby  (including  any  Affiliate  of  any  L/C  Issuer  that  issues  any  Letter  of  Credit), Participants to the extent provided in subsection (e) of this Section and, to the  extent  expressly  contemplated  hereby,  the  sub-agents  of  the  Administrative  Agent  and  each of the Indemnified Parties) any legal or equitable right, remedy or claim under or by  reason of this Agreement.               (b)  Any Lender may at any time assign to one or more Eligible Assignees  all  or  a  portion  of  its  rights and  obligations  under  this  Agreement  (including  all  or  a  portion of its Commitments and the Loans and other amounts (including for purposes of  this subsection (b), participations in L/C Exposures and in Swing Line Loans) at the time  owing to it); provided that (i) except in the case of an assignment of the entire remaining   amount of the assigning Lender’s Commitment of any Class and the Loans of such Class   at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a   Lender  or  an  Approved  Fund  with  respect  to  a  Lender,  the  aggregate  amount  of  the   Commitment  of  any  Class  (which  for  this  purpose  includes  Loans of  such  Class   outstanding thereunder) subject to each such assignment, determined as of the date the   Assignment  and  Assumption  with  respect  to  such  assignment  is  delivered  to  the   Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption,   as  of  the  Trade  Date,  shall  not  be  less  than  US$10,000,000  or  an  integral  multiple  of   US$5,000,000 in excess thereof, unless each of the Administrative Agent and, so long as   no Event of Default under Section 8.01(a), (b), (g) or (h) has occurred and is continuing,   the Company otherwise consents (each such consent not to be unreasonably withheld or   delayed); (ii) each partial assignment shall be made as an assignment of a proportionate   part  of  all  the  assigning  Lender’s  rights  and  obligations  under  this  Agreement  with   respect to the Loans of a Class (including its participation interests in L/C Exposures and   Swing Line Loans of such Class) and the Commitment of such Class assigned, provided   that this clause (ii) shall not apply to Swing Line Loans in the event of any assignment by   a Swing Line Lender; (iii) any assignment of a Commitment must be approved (which   approval  shall  not  be  unreasonably  withheld  or  delayed)  by  the Administrative  Agent,   each  L/C  Issuer  and  each  Swing  Line  Lender  (whether  or  not  the proposed  assignee   would  otherwise  qualify  as  an  Eligible  Assignee);  (vi)  the  parties  to  each  assignment   shall execute and deliver to the Administrative Agent an Assignment and Assumption,   together with a processing and recordation fee of US$3,500; and (iv) the assignee shall   deliver to the Administrative Agent a completed Administrative Questionnaire (unless the   assignee  shall  already  be  a  Lender  hereunder).   Subject  to  acceptance  and  recording   thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and   after  the  effective  date  specified  in  each  Assignment  and  Assumption,  the  assignee   thereunder shall be a party to this Agreement and, to the extent of the interest assigned by   such Assignment and Assumption, have the rights and obligations of a Lender under this   Agreement,  and  the  assigning  Lender  thereunder  shall,  to  the  extent  of  the  interest                                                                                [[3883081]]  

 

                                                                     102    assigned by such Assignment and Assumption, be released from its obligations under this   Agreement  (and,  in  the  case  of  an  Assignment  and  Assumption  covering  all  of  the   assigning Lender’s rights and obligations under this Agreement, such Lender shall cease   to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04,   3.05,  11.05  and  11.09  with  respect  to  facts  and  circumstances  occurring  prior  to  the   effective date of such assignment).  Any assignment or transfer by a Lender of rights or   obligations  under  this  Agreement  that  does  not  comply  with  this  subsection  shall  be   treated for purposes of this Agreement as a sale by such Lender of a participation in such   rights and obligations in accordance with subsection (d) of this Section.  Notwithstanding   the  foregoing,  the  Administrative Agent  shall  not  be  obligated to  consent  to  an  assignment hereunder until it is satisfied it has complied with all necessary “know your  customer” or other similar checks under all applicable laws and regulations in relation to  the assignment to such assignee Lender.               (c)  The  Administrative  Agent,  acting  solely  for  this  purpose  as  a  non- fiduciary  agent  of  the  Borrowers,  shall  maintain  at  one  of  its offices  a  copy  of  each  Assignment  and  Assumption  delivered  to  it  and  a  register  for  the  recordation  of  the  names and addresses of the Lenders, and the Commitments of, and principal amounts of  the  Loans  owing  to,  each  Lender  pursuant  to  the  terms  hereof  from  time  to  time  (the  “Register”).  The entries in the Register shall be conclusive, absent manifest error, and   the Borrowers, the Administrative Agent, the L/C Issuers and the Lenders may treat each   Person whose name is recorded in the Register pursuant to the terms hereof as a Lender   hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  The  Register shall be available for inspection by the Borrowers and, as to entries pertaining to  it,  any  L/C  Issuer  or  Lender,  at  any  reasonable  time  and  from  time  to  time  upon  reasonable prior notice.               (d)  Any Lender may at any time, without the consent of, or (except as set  forth below in this subsection (d)) notice to, any Borrower, any L/C Issuer, any Swing  Line Lender or the Administrative Agent, sell participations to any Person (other than a  natural  person  or  any  Borrower  or  any  Borrower’s  Affiliates  or Subsidiaries)  (each,  a  “Participant”)  in  all  or  a  portion  of  such  Lender’s  rights  and/or  obligations  under  this   Agreement (including all or a portion of its Commitments and the Loans (including such   Lender’s  participations  in  L/C  Exposures  and/or  Swing  Line  Loans)  owing  to  it);   provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,   (ii)  such  Lender  shall  remain  solely  responsible  to  the  other  parties  hereto  for  the   performance of such obligations and (iii) the Borrowers, the Administrative Agent, the  L/C  Issuers  and  the  other  Lenders  shall  continue  to  deal  solely and directly with such  Lender  in  connection  with  such  Lender’s  rights  and  obligations under this  Agreement.   Each  Lender  selling  a  participation  shall  notify  the  Company  of  the  identity  of  the   Participant and the amount of the participation, provided that the failure of any Lender to   give such notice shall not affect the validity of such sale or the rights of the Participant   hereunder.   Any  agreement  or  instrument  pursuant  to  which  a  Lender  sells  such  a   participation  shall  provide  that  such  Lender  shall  retain  the  sole  right  to  enforce  this   Agreement and to approve any amendment, modification or waiver of any provision of   this  Agreement;  provided  that  such  agreement  or  instrument  may provide  that  such   Lender will not, without the consent of the Participant, agree to any amendment, waiver                                                                                [[3883081]]  

 

                                                                     103    or other modification described in clause (ii) of the first proviso to Section 11.06(a) that   directly affects such Participant.  Subject to subsection (e) of this Section, the Borrowers   agree that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05   to  the  same  extent  as  if  it  were  a  Lender  and  had  acquired  its interest  by  assignment   pursuant  to  subsection  (b)  of  this  Section.   To  the  extent  permitted  by  law,  each   Participant  also  shall  be  entitled  to  the  benefits  of  Section  11.03  as  though  it  were  a   Lender,  provided  such  Participant  agrees  to  be  subject  to  Section  2.13(c)  as  though  it   were a Lender.                (e)  A  Participant  shall  not  be  entitled  to  receive  any  greater  payment   under  Sections  3.01  or  3.04  than  the  applicable  Lender  would  have  been  entitled  to   receive with respect to the participation sold to such Participant, unless the sale of the   participation to such Participant is made with the Company’s prior written consent.  No   Participant shall be entitled to the benefits of Section 3.05 unless the Company is notified   of the participation sold to such Participant and such Participant agrees, for the benefit of   the Borrower, to provide such forms, certificates or other evidence, if any, with respect to  withholding Tax matters as required under Section 3.05 and otherwise complies with the  requirements of Section 3.05 as though it were a Lender.               (f)  Any Lender may at any time pledge or assign a security interest in all  or any portion of its rights under this Agreement (including under any Note) to secure  obligations of such Lender, including any pledge or assignment to secure obligations to a  Federal  Reserve  Bank  or  any  other  central  bank;  provided  that  no such pledge or   assignment shall release such Lender from any of its obligations hereunder or substitute  any such pledgee or assignee for such Lender as a party hereto.               (g)  Each  Lender  that  sells  a  participation  shall,  acting  solely  for  this  purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters  the name and address of each Participant and the principal amounts (and stated interest)  of each Participant’s interest in the Loans or other obligations under the Loan Documents  (the  “Participant  Register”);  provided  that,  except  as  set  forth  in  paragraph  (d)  of  this   Section,  no  Lender  shall  have  any  obligation  to  disclose  all  or  any  portion  of  the   Participant Register (including the identity of any Participant or any information relating   to  a  Participant’s  interest  in  any  Commitments,  Loans,  Letters of  Credit  or  its  other   obligations  under  any  Loan  Document)  to  any  Person  except  to  the  extent  that  such   disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other   obligation is in registered form under Section 5f.103-1(c) of the United States Treasury   Regulations. The entries in the Participant Register shall be conclusive absent manifest   error, and such Lender shall treat each Person whose name is recorded in the Participant   Register  as  the  owner  of  such  participation  for  all  purposes  of  this  Agreement   notwithstanding  any  notice  to  the  contrary.   For  the  avoidance of  doubt,  the   Administrative  Agent  (in  its  capacity  as  such)  shall  not  have  any  responsibility  for   maintaining a Participant Register.                SECTION 11.02.  Notices;  Effectiveness;  Electronic  Communication.    (a)  General.  Except in the case of notices and other communications expressly permitted   to be given by telephone (and except as provided in subsection (b) below), all notices and                                                                                 [[3883081]]  

 

                                                                    104   other communications provided for herein shall be in writing and shall be delivered by  hand or overnight courier service, mailed by certified or registered mail or sent by fax or  e-mail,  and  all  notices  and  other  communications  expressly  permitted  hereunder  to  be  given by telephone shall be made to the applicable telephone number, as follows:               (i) if to the Company or any Borrowing Subsidiary, to V.F. Corporation,        105  Corporate  Center  Boulevard,  Greensboro,  North  Carolina  27408,  Attn:        Omorlie Harris, Vice President-Treasurer (Telephone: (336) 424-6040 Fax: (336)       424-7630; e-mail address: omorlie_harris@vfc.com);              (ii) if to the Administrative Agent, as follows: (A) if such notice relates to       a  Loan  or  Borrowing  denominated  in  US  Dollars,  or  does  not  relate  to  any       particular Loan, Borrowing or Letter of Credit, to JPMorgan Chase Bank, N.A.,       Loan and Agency Services Group, 10 South Dearborn Street, Floor L2S, Chicago,       Illinois  60603,  Attention  of  Julius  C.  Williams  (Fax  No.  844-490-5663;  e-mail       address:              julius.c.williams@jpmorgan.com            and       JPM.Agency.Servicing.1@JPMorgan.com),  with  a  copy  to  JPMorgan  Chase       Bank, N.A., 712 Main Street, 5th Floor North, Houston, Texas 77002, Attention       of   Antje  B.   Focke   (Fax   No.  713-216-6710;  e-mail  address:       antje.b.focke@jpmorgan.com); (B) if such notice relates to a Loan or Borrowing       denominated  in  Canadian  Dollars,  to  JPMorgan  Chase  Bank,  N.A., Loan  and       Agency Services Group, 10 South Dearborn Street, Floor L2S, Chicago, Illinois       60603, Attention of Julius C. Williams (Fax No. 844-490-5663; e-mail address:       julius.c.williams@jpmorgan.com and JPM.Agency.Servicing.1@JPMorgan.com),       with a copy to JPMorgan Chase Bank, N.A., 712 Main Street, 5th Floor North,       Houston, Texas 77002, Attention of Antje B. Focke  (Fax No. 713-216-6710; e-      mail address: antje.b.focke@jpmorgan.com); (C) if such notice relates to a Loan       or  Borrowing  denominated  in  an  Alternative  Currency  other  than Canadian       Dollars, to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 10       South Dearborn Street, Floor L2S, Chicago, Illinois 60603, Attention of Julius C.       Williams      (Fax     No.      844-490-5663;    e-mail     address:       julius.c.williams@jpmorgan.com and JPM.Agency.Servicing.1@JPMorgan.com),       with a copy to JPMorgan Chase Bank, N.A., 712 Main Street, 5th Floor North,       Houston, Texas 77002, Attention of Antje B. Focke  (Fax No. 713-216-6710; e-      mail  address:  antje.b.focke@jpmorgan.com);  and  (D)  if  such  notice  relates  to  a       Letter  of  Credit,  to  JPMorgan  Chase  Bank,  N.A.,  10  South  Dearborn  Street,       Chicago,  Illinois  60603,  Attention  of  Chicago  LC  Agency  (Fax  No.  214-307-      6874; e-mail address: Chicago.LC.Agency.Activity.Team@JPMChase.com), with       a  copy  to  JPMorgan  Chase  Bank,  N.A.,  712  Main  Street,  5th  Floor  North,       Houston, Texas 77002, Attention of Antje B. Focke  (Fax No. 713-216-6710; e-      mail address: antje.b.focke@jpmorgan.com);              (iii) if to JPMCB as a Swing Line Lender, to JPMorgan Chase Bank, N.A.,       Loan and Agency Services Group, 10 South Dearborn Street, Floor L2S, Chicago,       Illinois  60603,  Attention  of  Julius  C.  Williams  (Fax  No.  844-490-5663;  e-mail       address:              julius.c.williams@jpmorgan.com            and       JPM.Agency.Servicing.1@JPMorgan.com),  with  a  copy  to  JPMorgan  Chase                                                                                                 [[3883081]]  

 

                                                                     105          Bank, N.A., 712 Main Street, 5th Floor North, Houston, Texas 77002, Attention        of   Antje  B.   Focke   (Fax   No.  713-216-6710;  e-mail  address:        antje.b.focke@jpmorgan.com);               (iv) if  to  JPMCB  as  an  L/C  Issuer,  to  JPMorgan  Chase  Bank,  N.A.,  10         South Dearborn Street, Chicago, Illinois 60603, Attention of Chicago LC Agency         (Fax        No.         214-307-6874;        e-mail        address:         Chicago.LC.Agency.Activity.Team@JPMChase.com),  with  a  copy  to  JPMorgan         Chase  Bank,  N.A.,  712  Main  Street,  5th  Floor  North,  Houston,  Texas  77002,         Attention  of  Antje  B.  Focke  (Fax  No.  713-216-6710;  e-mail  address:         antje.b.focke@jpmorgan.com);                 (v) if to any other Swing Line Lender or L/C Issuer, to it at its address (or         fax  number)  most  recently  specified  by  it  in  a  notice  delivered to the         Administrative Agent and the Company (or, in the absence of any such notice, to         the address (or fax number) set forth in the Administrative Questionnaire of the         Lender that is serving as such Swing Line Lender or L/C Issuer or is an Affiliate        thereof); and               (vi) if to any other Lender, to it at its address (or fax number) set forth in        its Administrative Questionnaire.   Notices  sent  by  hand  or  overnight  courier  service,  or  mailed  by  certified  or  registered  mail,  shall  be  deemed  to  have  been  given  when  received;  notices  sent  by  fax  shall  be  deemed to have been given when sent, where the proper transmission of such notice is  either  acknowledged  by  the  recipient  or  electronically  confirmed  by  the  transmitting  device (except that, if not given during normal business hours for the recipient, shall be  deemed to have been given at the opening of business on the next business day for the  recipient).  Notices delivered through e-mail or other electronic communications to the  extent provided in subsection (b) below, shall be effective as provided in such subsection  (b).               (b)  Electronic  Communications.   Notices  and  other  communications  to   the Lenders and the L/C Issuers hereunder may be delivered or furnished by electronic   communication (including e-mail and the Platform) pursuant to procedures approved by   the  Administrative  Agent,  provided that  the  foregoing  shall not  apply  to  notices  under   Article II to any Lender or L/C Issuer if such Lender or L/C Issuer, as applicable, has   notified  the  Administrative  Agent  that  it  is  incapable  of  receiving  notices  under  such   Article by electronic communication.  The Administrative Agent, the Company or any   Borrowing  Subsidiary  may,  in  its  discretion,  agree  to  accept  notices  and  other   communications  to  it  hereunder  by  other  electronic  communications  pursuant  to   procedures approved by it, provided that approval of such procedures may be limited to   particular notices or communications.                Unless  the  Administrative  Agent  otherwise  prescribes,  (i)  notices  and   other  communications  sent  to  an  e-mail  address  shall  be  deemed received  upon  the   sender’s  receipt  of  an  acknowledgement  from  the  intended  recipient  (such  as  by  the                                                                                 [[3883081]]  

 

                                                                     106    “return  receipt  requested”  function,  as  available,  return  e-mail  or  other  written   acknowledgement),  provided  that  if  such  notice  or  other  communication  is  not  sent   during the normal business hours of the recipient, such notice or communication shall be   deemed  to  have  been  sent  at  the  opening  of  business  on  the  next  business  day  for  the   recipient,  and  (ii)  notices  or  communications  posted  to  the  Platform  shall  be  deemed   received upon the receipt by the intended recipient at its e-mail address as described in   the foregoing clause (i) of notification that such notice or communication is available and   identifying the website address therefor.                (c)  The Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS   AVAILABLE”.  THE  AGENT  PARTIES  (AS  DEFINED  BELOW)  DO  NOT   WARRANT  THE  ACCURACY  OR  COMPLETENESS  OF  THE  COMPANY  MATERIALS  OR  THE  COMMUNICATIONS  OR  THE  ADEQUACY  OF  THE  PLATFORM,  AND  EXPRESSLY  DISCLAIM  LIABILITY  FOR  ERRORS  IN  OR  OMISSIONS FROM THE COMPANY MATERIALS OR THE COMMUNICATIONS.   NO  WARRANTY  OF  ANY  KIND,  EXPRESS,  IMPLIED  OR  STATUTORY,  INCLUDING  ANY  WARRANTY  OF  MERCHANTABILITY,  FITNESS  FOR  A  PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR  FREEDOM  FROM  VIRUSES  OR  OTHER  CODE  DEFECTS,  IS  MADE  BY  ANY  AGENT  PARTY  IN  CONNECTION  WITH  THE  COMPANY  MATERIALS,  THE  COMMUNICATIONS  OR  THE  PLATFORM.   In  no  event  shall  the  Administrative   Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to   any  Borrower,  any  Lender,  any  L/C  Issuer  or  any  other  Person  for  losses,  claims,   damages,  liabilities  or  expenses  of  any  kind  (whether  in  tort, contract  or  otherwise)   arising  out  of  any  Borrower’s  or  the  Administrative  Agent’s  transmission  of  any   Company  Materials  or  any  Communications  through  the  Internet,  the  Platform  or  any  other  electronic  transmission  systems,  except  to  the  extent  that  such  losses,  claims,  damages, liabilities or expenses are determined by a court of competent jurisdiction by a  final and nonappealable judgment to have resulted from the gross negligence or willful  misconduct  of  such  Agent  Party;  provided,  however,  that  in  no  event  shall  any  Agent   Party have any liability to any Borrower, any Lender, any L/C Issuer or any other Person   for indirect, special, incidental, consequential or punitive damages (as opposed to direct   or actual damages).                (d)  Change of Address, Etc.  Each Borrower, the Administrative Agent,   each L/C Issuer and each Swing Line Lender may change its address, fax or telephone   number or e-mail address for notices and other communications hereunder by notice to  the  other  parties  hereto.   Each  other  Lender  may  change  its  address,  fax  or  telephone  number or e-mail address for notices and other communications hereunder by notice to  the Company, the Administrative Agent, each L/C Issuer and each Swing Line Lender.   In addition, each Lender agrees to notify the Administrative Agent from time to time to  ensure that the Administrative Agent has on record (i) an effective address, contact name,  telephone  number,  fax  number  and  e-mail  address  to  which  notices  and  other  communications  may  be  sent  and  (ii)  accurate  wire  instructions for  such  Lender.   Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of  such Public Lender to at all times have selected the “Private Side Information” or similar  designation  on  the  content  declaration  screen  of  the  Platform  in  order  to  enable  such                                                                                [[3883081]]  

 

                                                                    107   Public  Lender  or  its  delegate,  in  accordance  with  such  Public  Lender’s  compliance  procedures and applicable law, including United States Federal and state securities laws,  to make reference to Company Materials that are not made available through the “Public  Side Information” portion of the Platform and that may contain MNPI.              (e)  Reliance  by  Administrative  Agent,  L/C  Issuers  and  Lenders.  The  Administrative Agent, the L/C Issuers and the Lenders shall be entitled to, but shall have  no obligation to, rely and act upon any notices (including telephonic notices) purportedly  given by the Company (on behalf of itself or any other Borrower) even if (i) such notices  were not made in a manner specified herein, were incomplete or were not preceded or  followed  by  any  other  form  of  notice  specified  herein  or  (ii)  the  terms  thereof,  as  understood by the recipient, varied from any confirmation thereof.  The Borrowers shall  indemnify the Administrative Agent, the L/C Issuers, each Lender and the Related Parties  of each of them from all losses, costs, expenses and liabilities resulting from the reliance  by such Person on each notice purportedly given by the Company (on behalf of itself or  any other Borrower), except to the extent that such losses, claims, damages, liabilities or  expenses  are  determined  by  a  court  of  competent  jurisdiction  by a final and  nonappealable judgment to have resulted from the gross negligence or willful misconduct  of such Person; provided that in no event shall any such Person have any liability to any  Borrower, any Lender, any L/C Issuer or any other Person for indirect, special, incidental,  consequential  or  punitive  damages  (as  opposed  to  direct  or  actual  damages).   All  telephonic notices to and other telephonic communications with the Administrative Agent  may  be  recorded  by  the  Administrative  Agent,  and  each  of  the  parties  hereto  hereby  consents to such recording.               SECTION 11.03.  Right  of  Set-off;  Adjustments.   Upon  the  occurrence  and during the continuance of any Event of Default and following notice to the Lenders  from the Administrative Agent or the Required Lenders authorizing the exercise of the  rights set forth in this Section 11.03, each Lender and L/C Issuer and each Affiliate of  any of the foregoing shall hereby be authorized at any time and from time to time, to the  fullest  extent  permitted  by  law,  to  set  off  and  apply  any  and  all  deposits  (general  or  special, time or demand, provisional or final) at any time held and other indebtedness at  any time owing by such Lender or L/C Issuer, or by such an Affiliate, to or for the credit  or the account of the Company or any Borrowing Subsidiary against any and all of the  obligations of the Company or any Borrowing Subsidiary now or hereafter existing under  this  Agreement  and  any  other  Loan  Document  held  by  such  Lender or  L/C  Issuer,  irrespective of whether or not such Lender or L/C Issuer shall have made any demand  under this Agreement or any other Loan Document and although such obligations may be  unmatured.  Each Lender and L/C Issuer agrees promptly to notify the Company after  any such set-off and application made by such Lender or L/C Issuer; provided, however  that  the  failure  to  give  such  notice  shall  not  affect  the  validity  of  such  set-off  and  application.  The rights of each Lender and L/C Issuer under this Section 11.03 are in  addition to other rights and remedies (including, without limitation, other rights of set- off) that such Lender, L/C Issuer or Affiliate may have.               SECTION 11.04.  Survival.   All  covenants,  agreements,  representations  and warranties made herein shall survive the making by the Lenders of the Loans and the                                                                                                 [[3883081]]  

 

                                                                     108    issuance  by  the  L/C  Issuers  of  Letters  of  Credit  and  the  execution  and  delivery  to  the   Lenders of this Agreement and the other Loan Documents and shall continue in full force   and effect until the Facility Termination Date; provided that the provisions of Sections   3.05,  10.05  and  11.09  and  Article  IX  shall  survive  and  remain  in  full  force  and  effect   regardless of the occurrence of the Facility Termination Date.                SECTION 11.05.  Expenses.  The Borrowers agree to pay on demand all   reasonable out-of-pocket costs and expenses of the Administrative Agent, the Arrangers   and  their  respective  Affiliates  in  connection  with  the  preparation,  execution,  delivery,   administration,  modification,  and  amendment  of  this  Agreement, the  other  Loan   Documents,  and  the  other  documents  to  be  delivered  hereunder  and  the  structuring,   arrangement and syndication of the credit facilities established hereby, including, without  limitation, the reasonable fees and expenses of counsel for the Administrative Agent with  respect thereto and with respect to advising the Administrative Agent as to its rights and  responsibilities under the Loan Documents.  If an Event of Default occurs, the Borrowers  further agree to pay on demand all reasonable out-of-pocket costs and expenses of the  Administrative  Agent,  the  L/C  Issuers  and  the  Lenders  (including,  without  limitation,  reasonable  attorneys’  fees  and  expenses)  in  connection  with  the  enforcement  (whether  through  negotiations,  legal  proceedings,  or  otherwise)  of  the  Loan  Documents  and  the  other documents to be delivered hereunder. For the avoidance of doubt, no amount shall  be payable pursuant to this Section 11.05 in respect of Taxes other than any Taxes that  represent losses, claims or damages arising from any non-Tax claim.               SECTION 11.06.  Amendments and Waivers.  (a)  Except as provided in   Section 11.06(b), any provision of this Agreement or any other Loan Document may be   amended or waived if, but only if, such amendment or waiver is in writing and is signed   by  the  Company  and  the  Required  Lenders  or,  as  to  Loan  Documents  other  than  this   Agreement, the Administrative Agent at the direction of and on behalf of the Required   Lenders; provided that (i) any provision of this Agreement or any other Loan Document   may  be  amended  by  an  agreement  in  writing  entered  into  by  the  Company  and  the   Administrative Agent to cure any ambiguity, omission, defect or inconsistency so long  as, in each case, (A) such amendment does not adversely affect the rights of any Lender  or (B) the Lenders shall have received at least five Business Days’ prior written notice  thereof and the Administrative Agent shall not have received, within five Business Days  of  the  date  of  such  notice  to  the  Lenders,  a  written  notice  from  the  Required  Lenders  stating that the Required Lenders object to such amendment and (ii) no such amendment  or waiver shall (A) increase the Commitment of any Lender without the written consent  of such Lender, (B) reduce the principal of or rate or amount of interest on any Loan or  L/C Disbursement or any fees or other amounts payable hereunder (in each case, other  than  as  a  result  of  any  waiver  of  any  default  interest  applicable  pursuant  to  Section  2.12(f)), without the written consent of each Lender affected thereby, (C) postpone any  date fixed for the payment of any scheduled installment of principal of or interest on any  Loan  or  any  fees  or  other  amounts  payable  hereunder,  or  the  required  date  of  reimbursement  of  any  L/C  Disbursement,  or  the  scheduled  date  for  termination  or  expiration  of  any  Commitment,  without  the  written  consent  of  each  Lender  affected  thereby,  (D)  change  the  percentage  set  forth  in  the  definition of  the  term  “Required  Lenders” or the percentage of the Commitments or of the unpaid principal amount of the                                                                                [[3883081]]  

 

                                                                     109    Loans, or the number of Lenders, which shall be required for the Lenders or any of them   to  take  any  action  under  this  Section  11.06  or  any  other  provision  of  this  Agreement,   without the written consent of each Lender, (E) change Section 2.08, 2.13 or 8.05 in a   manner that would alter the pro rata sharing of payments or the pro rata reduction of the   Commitments required thereby, without the written consent of each Lender, (F) release   the Company from its Guarantee obligations hereunder, without the written consent of   each Lender, (G) amend this Section 11.06, without the written consent of each Lender or   (H) change any provision of any Loan Document in a manner that by its terms adversely   affects  the  rights  in  respect  of  payments  due  to  Lenders  of  any  Class  differently  from   those of the other Class, without the written consent of Lenders representing a majority in   interest  of  such  adversely  affected  Class;  and,  provided  further,  that  (x)(1)  no   amendment, waiver or consent shall, unless in writing and signed by such L/C Issuer in   addition to the Lenders required above, affect the rights or duties of any L/C Issuer under   this Agreement or under or in respect of any Letter of Credit issued or to be issued by it;  (2) no amendment, waiver or consent shall, unless in writing and signed by such Swing   Line Lender in addition to the Lenders required above, affect the rights or duties of any   Swing  Line  Lender  under  this  Agreement;  and  (3)  no  amendment,  waiver  or  consent   shall, unless in writing and signed by the Administrative Agent in addition to the Lenders   required  above,  affect  the  rights or  duties  of  the  Administrative  Agent  under  this  Agreement  or  any  other  Loan  Document  and  (y)  any  amendment,  waiver  or  other  modification of this Agreement or any other Loan Document that by its terms affects the  rights or duties thereunder of the Lenders of one Class (but not the Lenders of the other  Class)  may  be  effected  by  an  agreement  or  agreements  in  writing  entered  into  by  the  Company  and  the  requisite  number  or  percentage  in  interest  of  the  affected  Class  of  Lenders that would be required to consent thereto under this Section 11.06 if such Class   of Lenders were the only Class of Lenders hereunder at the time.                (b)  Notwithstanding anything to the contrary in paragraph (a) of this   Section:                   (i)  this Agreement and the other Loan Documents may be amended in         a manner provided in Sections 1.05(b), 2.05(i), 2.05(k), 2.08(d), 2.16 and 3.02(b);                    (ii)  this Agreement and the other Loan Documents may be amended in         the  manner  provided  in  Section  2.14  and,  in  connection  with  any  Borrowing         Subsidiary  becoming  a  party  hereto,  this  Agreement  (including  the  Exhibits         hereto) may be amended by an agreement in writing entered into by the Company         and the Administrative Agent to provide for such technical modifications as they         determine to be necessary or advisable in connection therewith;                   (iii)  the  term  “L/C  Commitment”  or  “Swing  Line  Commitment”,  as         such term is used in reference to any L/C Issuer or Swing Line Lender, may be         modified as contemplated by the definition of such term; and                   (iv)  no  consent  with  respect  to  any  amendment,  waiver  or  other         modification of this Agreement or any other Loan Document shall be required of         any  Defaulting  Lender, except  with  respect  to any  amendment,  waiver  or  other                                                                                 [[3883081]]  

 

                                                                    110         modification referred to in clause (A), (B) or (C) of Section 11.06(a)(ii) and then        only in the event such Defaulting Lender shall be affected by such amendment,        waiver or other modification.               (c)  The Administrative Agent may, but shall have no obligation to, with  the concurrence of any Lender, execute amendments, waivers or other modifications on  behalf  of  such  Lender.  Any  amendment,  waiver  or  other  modification  effected  in  accordance with this Section 11.06 shall be binding upon each Person that is at the time  thereof a Lender and each Person that subsequently becomes a Lender.               (d)  No notice to or demand on any Borrower in any case shall entitle any  Borrower  to  any  other  or  further  notice  or  demand  in  similar  or  other  circumstances,  except  as  otherwise  expressly  provided  herein.   No  failure,  delay  or  omission  by  the  Administrative Agent, any L/C Issuer or any Lender in exercising any right, remedy or  option shall operate as a waiver of such or any other right, remedy or option or of any  Default or Event of Default.                 SECTION 11.07.  Counterparts;  Electronic  Execution.   (a)  This  Agreement  and  any  Loan  Document  may  be  executed  in  any  number  of  counterparts,  each of which when so executed and delivered shall be deemed an original, and it shall  not be necessary in making proof of this Agreement or any Loan Document to produce or  account  for  more  than  one  such  fully-executed  counterpart.   Delivery  of  an  executed  counterpart of a signature page of this Agreement or any Loan Document by facsimile  transmission  or  other  electronic  imaging  shall  be  effective  as delivery  of  a  manually  executed counterpart thereof.               (b)  The  words  “execution”,  “signed”,  “signature”, “delivery”  and  words  of  like  import  in  or  relating  to  any  document  to  be  signed  in  connection  with  this  Agreement or any other Loan Document and the transactions contemplated hereby shall  be  deemed  to  include  Electronic  Signatures,  deliveries  or  the  keeping  of  records  in  electronic form, each of which shall be of the same legal effect, validity or enforceability  as a manually executed signature, physical delivery thereof or the use of a paper-based  recordkeeping  system,  as  the  case  may  be,  to  the  extent  and  as provided  for  in  any  applicable  law,  including  the  Federal  Electronic  Signatures  in Global  and  National  Commerce Act, the New York State Electronic Signatures and Records Act, or any other  similar  state  laws  based  on  the  Uniform  Electronic  Transactions  Act;  provided  that  nothing herein shall require the Administrative Agent to accept electronic signatures in  any form or format without its prior written consent.               SECTION 11.08.  Termination.  The termination of this Agreement shall  not affect any rights of the Borrowers, the Lenders, the L/C Issuers or the Administrative  Agent  or  any  obligation  of  the  Borrowers,  the  Lenders,  the  L/C Issuers  or  the  Administrative  Agent  arising  prior  to  the  effective  date  of  such  termination,  and  the  provisions hereof shall continue to be fully operative until all transactions entered into or  rights created or obligations incurred prior to such termination have been fully disposed  of, concluded or liquidated and the Obligations (other than Obligations in the nature of  continuing indemnities or expense reimbursement obligations not yet due and payable,                                                                                                 [[3883081]]  

 

                                                                     111    which shall continue) arising prior to or after such termination have been irrevocably paid  in  full.   The  rights  granted  to  the  Administrative  Agent  for  the  benefit  of  the  Lenders  under  the  Loan  Documents  shall  continue  in  full  force  and  effect,  notwithstanding  the  termination of this Agreement, until all of the Obligations have been paid in full after the  termination  hereof  (other  than  Obligations  in  the  nature  of  continuing  indemnities  or  expense reimbursement obligations not yet due and payable, which shall continue) or the  Company has furnished the Lenders, the L/C Issuers and the Administrative Agent with   an  indemnification  satisfactory  to  the  Administrative  Agent  and  each  Lender  and  L/C   Issuer  with  respect  thereto.   Notwithstanding  the  foregoing,  if  after  receipt  of  any  payment of all or any part of the Obligations, any Lender or L/C Issuer is for any reason  compelled to surrender such payment to any Person because such payment is determined  to be void or voidable as a preference, impermissible setoff, a diversion of trust funds or  for any other reason, this Agreement shall continue in full force, and the Company shall  be liable to, and shall indemnify and hold the Administrative Agent or such Lender or   L/C  Issuer  harmless  for,  the  amount  of  such  payment  surrendered  until  the   Administrative  Agent  or  such  Lender  or  L/C  Issuer  shall  have  been  finally  and   irrevocably paid in full.  The provisions of the foregoing sentence shall be and remain   effective  notwithstanding  any  contrary  action  which  may  have  been  taken  by  the   Administrative Agent, the L/C Issuers or the Lenders in reliance upon such payment, and   any such contrary action so taken shall be without prejudice to the Administrative Agent   or the Lenders’ or L/C Issuers’ rights under this Agreement and shall be deemed to have   been conditioned upon such payment having become final and irrevocable.                SECTION 11.09.  Indemnification;  Limitation  of  Liability.   (a)  The   Borrowers, to the maximum extent permitted by applicable law, agree to indemnify and   hold  harmless  the  Administrative  Agent,  each  Arranger,  each  syndication  agent,  each   documentation agent, each L/C Issuer and each Lender, and each Related Party of any of   the foregoing Persons (each such Person, an “Indemnified Party”) from and against any   and  all  claims,  damages,  losses,  liabilities,  costs,  and  expenses  (including,  without   limitation,  reasonable  attorneys’  fees)  that  may  be  incurred  by  or  asserted  or  awarded   against any Indemnified Party, in each case arising out of or in  connection  with  or  by   reason of (including, without limitation, in connection with any investigation, litigation,   or  proceeding  or  preparation  of  defense  in  connection  therewith)  (i)  in  the  case  of  the   Arrangers,  the  Administrative  Agent  and  their  Related  Parties  only,  the  structuring,   arrangement  or  syndication  of  the  credit  facilities  established  hereby  (and  all  related   commitment and fee letters and the execution, delivery or performance thereof) and (ii)   this Agreement and the other Loan Documents and the transactions contemplated herein   or  the  actual  or  proposed  use  of  the  proceeds  of  the  Loans  or  Letters  of  Credit   (collectively, “Indemnified Liabilities”), except, in each case,  to the  extent  such  claim,   damage, loss, liability, cost, or expense is found in a final, non-appealable judgment by a   court  of  competent  jurisdiction to  have  resulted  from  the  gross  negligence  or  willful   misconduct of such Indemnified Party or any Related Party of such Indemnified Party.  In  the case of an investigation, litigation or other proceeding to which the indemnity in this  Section  11.09  applies,  such  indemnity  shall  be  effective  whether or not such   investigation, litigation or proceeding is brought by any Borrower or any of its directors,   shareholders or creditors or an Indemnified Party or any other Person or any Indemnified   Party  is  otherwise  a  party  thereto  and  whether  or  not  the  transactions  contemplated                                                                                [[3883081]]  

 

                                                                     112    hereby are consummated.  The Borrowers agree that no Indemnified Party shall have any   liability (whether direct or indirect, in contract or tort or otherwise) to any of them, any of  their Subsidiaries, any guarantor, or any security holders or creditors thereof arising out  of, related to or in connection with the transactions contemplated herein, except to the  extent  that  such  liability  is  found  in  a  final  non-appealable  judgment  by  a  court  of  competent  jurisdiction  to  have  directly  resulted  from  the  gross  negligence  or  willful  misconduct of such Indemnified Party or a Related Party of such Indemnified Party.  The  Borrowers agree not to assert any claim against the Administrative Agent, any Arranger,  any syndication agent, any documentation agent, any L/C Issuer, any Lender or any of  the Related Parties of any of the foregoing, on any theory of liability, for special, indirect,  consequential, or punitive damages arising out of or otherwise relating to this Agreement  or the other Loan Documents or any of the transactions contemplated herein or the actual  or proposed use of the proceeds of the Loans or the Letters of Credit.  This paragraph  shall not apply with respect to Taxes other than any Taxes that represent losses, claims or  damages arising from any non-Tax claim.               (b)  To the extent that the Borrowers fail to pay any amount required to be  paid by them under Section 11.05 or 11.09(a) to the Administrative Agent (or any sub- agent thereof), any L/C Issuer, any Swing Line Lender or any Related Party of any of the  foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such  sub-agent), such L/C Issuer, such Swing Line Lender or such Related Party, as the case  may  be,  such  Lender’s  pro  rata  share  (determined  as  of  the  time  that  the  applicable  unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided   that  the  unreimbursed  expense  or  indemnified  loss,  claim,  damage,  liability  or  related   expense,  as  the  case  may  be,  was  incurred  by  or  asserted  against  the  Administrative   Agent (or such sub-agent), such L/C Issuer or such Swing Line Lender in its capacity as   such, or against any Related Party of any of the foregoing acting for the Administrative   Agent (or any such sub-agent), any L/C Issuer or any Swing Line Lender in connection   with such capacity.  For purposes of this Section 11.09(b), a Lender’s “pro rata share”   shall  be  determined  based  upon  the  percentage  of  the  aggregate Commitments   represented  by  such  Lender’s  Commitment  or  Commitments  (or,  if the  Commitments   shall have expired or been terminated, the Commitments most recently in effect).                SECTION 11.10.  Severability.  If any provision of this Agreement or the   other Loan Documents shall be determined to be illegal or invalid as to one or more of   the parties hereto, then such provision shall remain in effect with respect to all parties, if   any, as to whom such provision is neither illegal nor invalid, and in any event all other   provisions  hereof  shall  remain  effective  and  binding  on  the  parties  hereto,  and  the   invalidity  of  a  particular  provision in a particular jurisdiction  shall  not  invalidate  such   provision in any other jurisdiction.                SECTION 11.11.  Integration.   This  Agreement,  together  with  the other   Loan  Documents  and  any  separate  agreements  with  respect  to  fees  payable  to  the   Administrative Agent, comprises the complete and integrated agreement of the parties on   the subject matter hereof and thereof and supersedes all prior agreements, written or oral,   on  such  subject  matter.   In  the  event  of  any  conflict  between  the  provisions  of  this   Agreement  and  those  of  any  other  Loan  Document,  the  provisions of  this  Agreement                                                                                 [[3883081]]  

 

                                                                     113    shall control; provided that the inclusion of supplemental rights or remedies in favor of   the Administrative Agent, the Lenders or the L/C Issuers in any other Loan Document   executed on or after the date of this Agreement shall not be deemed a conflict with this   Agreement.  Each Loan Document was drafted with the joint participation  of  the   respective parties thereto and shall be construed neither against nor in favor of any party,   but rather in accordance with the fair meaning thereof.                SECTION 11.12.  Governing Law; Waiver of Jury Trial.                (a)  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS  SHALL  BE  GOVERNED  BY,  AND  CONSTRUED  IN  ACCORDANCE  WITH,  THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS   EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE.                (b)  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY  AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO  THE  JURISDICTION  OF  THE  UNITED STATES  DISTRICT  COURT  OF  THE   SOUTHERN  DISTRICT  OF  NEW YORK  AND  THE  SUPREME  COURT  OF   THE  STATE  OF  NEW YORK  SITTING  IN  NEW YORK  COUNTY,  AND  ANY   APPELLATE  COURT  FROM  ANY  THEREOF,  IN  ANY  SUIT,  ACTION  OR   PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR   ANY    OTHER     LOAN     DOCUMENT       AND    THE     TRANSACTIONS   CONTEMPLATED  HEREBY  OR  THEREBY,  AND  EACH  OF  THE   BORROWERS HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES   THAT  ALL  CLAIMS  IN  RESPECT  OF  ANY  SUCH  SUIT,  ACTION  OR   PROCEEDING  BROUGHT  BY  IT  SHALL  BE  INSTITUTED  IN,  AND  HEARD   AND  DETERMINED  EXCLUSIVELY  BY,  SUCH  FEDERAL  COURT  OR,  IN   THE  EVENT  SUCH  FEDERAL  COURT  LACKS  SUBJECT  MATTER   JURISDICTION, SUCH NEW YORK STATE COURT.  EACH PARTY HERETO   HEREBY  EXPRESSLY  WAIVES,  TO  THE  FULLEST  EXTENT  PERMITTED   BY  APPLICABLE  LAW,  ANY  OBJECTION  THAT  IT  MAY  NOW  OR   HEREAFTER HAVE TO THE LAYING OF VENUE IN, OR TO THE EXERCISE   OF JURISDICTION OVER IT AND ITS PROPERTY BY, ANY SUCH COURT IN   ANY  SUCH  SUIT,  ACTION  OR  PROCEEDING.  EACH  OF  THE  PARTIES   HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH SUIT, ACTION   OR  PROCEEDING  SHALL  BE  CONCLUSIVE  AND  MAY  BE  ENFORCED  IN   OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER   MANNER PROVIDED BY LAW.  NOTHING IN THIS AGREEMENT OR ANY   OTHER  LOAN  DOCUMENT  SHALL  AFFECT  ANY  RIGHT  THAT  THE   ADMINISTRATIVE  AGENT,  ANY  L/C  ISSUER  OR  ANY  LENDER  MAY   OTHERWISE  HAVE  TO  BRING  ANY       SUIT,  ACTION  OR  PROCEEDING  ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER  LOAN  DOCUMENT  AGAINST  ANY  BORROWER  OR  ITS  PROPERTIES  IN  THE COURTS OF ANY JURISDICTION.               (c)  EACH OF THE PARTIES HERETO IRREVOCABLY AGREES   THAT SERVICE OF PROCESS MAY BE MADE BY PERSONAL SERVICE OF                                                                                 [[3883081]]  

 

                                                                     114    A  COPY  OF  THE  SUMMONS  AND  COMPLAINT  OR  OTHER  LEGAL   PROCESS  IN  ANY  SUCH  SUIT,  ACTION  OR  PROCEEDING,  OR  BY   REGISTERED OR CERTIFIED MAIL (POSTAGE PREPAID) IN THE MANNER   PROVIDED  FOR  NOTICES  IN  SECTION  11.02.   NOTHING  IN  THE   AGREEMENT  OR  ANY  OTHER  LOAN  DOCUMENT  WILL  AFFECT  THE   RIGHT  OF  ANY  PARTY  TO  THIS  AGREEMENT  OR  SUCH  OTHER  LOAN   DOCUMENT  TO  SERVE  PROCESS  IN  ANY  OTHER  MANNER  PERMITTED   BY LAW.                (d)  EACH     BORROWING          SUBSIDIARY        HEREBY  IRREVOCABLY       DESIGNATES,     APPOINTS     AND    EMPOWERS      THE  COMPANY,       AND    THE    COMPANY       HEREBY     ACCEPTS      SUCH  APPOINTMENT, AS ITS DESIGNEE, APPOINTEE AND AGENT TO RECEIVE,  ACCEPT  AND  ACKNOWLEDGE  FOR  AND  ON  ITS  BEHALF,  AND  IN  RESPECT  OF  ITS  PROPERTY,  SERVICE  OF  ANY  AND  ALL  LEGAL  PROCESS,  SUMMONS,  NOTICES  AND  DOCUMENTS  THAT  MAY  BE  SERVED  IN  ANY  SUIT,  ACTION  OR   PROCEEDING  ARISING  OUT  OF  OR  RELATING  TO  THIS  AGREEMENT  AND  ANY  OTHER  LOAN  DOCUMENT.   SUCH SERVICE MAY BE MADE BY MAILING OR DELIVERING A COPY OF  SUCH  PROCESS  TO  ANY  BORROWING  SUBSIDIARY  IN  CARE  OF  THE  COMPANY  AT  THE  COMPANY’S  ADDRESS  USED  FOR  PURPOSES  OF  GIVING  NOTICE  UNDER  SECTION  11.02,  AND  EACH  BORROWING  SUBSIDIARY  HEREBY  IRREVOCABLY  AUTHORIZES  AND  DIRECTS  THE  COMPANY TO ACCEPT, AND THE COMPANY AGREES TO ACCEPT, SUCH  SERVICE ON ITS BEHALF.                (e)  IN ANY ACTION, SUIT OR PROCEEDING TO ENFORCE OR  DEFEND ANY RIGHTS OR REMEDIES UNDER OR RELATED TO ANY LOAN  DOCUMENT  OR  ANY  AMENDMENT,  INSTRUMENT,  DOCUMENT  OR  AGREEMENT  DELIVERED  OR  THAT MAY IN THE FUTURE BE  DELIVERED  IN  CONNECTION  THEREWITH,  EACH  BORROWER,  THE  ADMINISTRATIVE  AGENT,  EACH  L/C  ISSUER  AND  THE  LENDERS  HEREBY  AGREE,  TO  THE  FULLEST  EXTENT  PERMITTED  BY  APPLICABLE  LAW,  THAT  ANY  SUCH  ACTION,  SUIT  OR  PROCEEDING  SHALL  BE  TRIED  BEFORE  A  COURT  AND  NOT  BEFORE  A  JURY  AND  HEREBY  IRREVOCABLY  WAIVE,  TO  THE  EXTENT  PERMITTED  BY  APPLICABLE LAW, ANY RIGHT SUCH PERSON MAY HAVE TO TRIAL BY  JURY IN ANY SUCH ACTION, SUIT OR PROCEEDING.               (f)  EACH PARTY HERETO HEREBY EXPRESSLY WAIVES, TO   THE  FULLEST  EXTENT  PERMITTED  BY  APPLICABLE  LAW,  ANY   OBJECTION IT MAY HAVE THAT ANY COURT TO WHOSE JURISDICTION   IT  HAS  SUBMITTED  PURSUANT  TO  THE  TERMS  HEREOF  IS  AN   INCONVENIENT FORUM.                (g)  IN THE EVENT ANY FOREIGN BORROWING SUBSIDIARY  OR  ANY  OF  ITS  ASSETS  HAS  OR  HEREAFTER  ACQUIRES,  IN  ANY                                                                                 [[3883081]]  

 

                                                                     115    JURISDICTION  IN  WHICH  JUDICIAL  PROCEEDINGS  MAY  AT  ANY  TIME   BE COMMENCED WITH RESPECT TO THIS AGREEMENT OR ANY OTHER   LOAN  DOCUMENT,  ANY  IMMUNITY  FROM  JURISDICTION,  LEGAL   PROCEEDINGS,     ATTACHMENT       (WHETHER      BEFORE     OR    AFTER   JUDGMENT),  EXECUTION,  JUDGMENT  OR  SETOFF,  SUCH  BORROWING   SUBSIDIARY  HEREBY  IRREVOCABLY  AGREES  NOT  TO  CLAIM  AND   HEREBY  IRREVOCABLY  AND  UNCONDITIONALLY  WAIVES  SUCH   IMMUNITY.                SECTION 11.13.  Confidentiality.  Each of the Administrative Agent, the   Lenders and the L/C Issuers agrees to maintain the confidentiality of the Information (as   defined  below),  except  that  Information  may  be  disclosed  (a)  to  its  Related  Parties,   including  accountants,  legal  counsel  and  other  advisors  (it  being  understood  that  the  Persons to whom such disclosure is made will be informed of the confidential nature of  such Information and instructed to keep such Information confidential or shall be subject   to  a  professional  obligation  of  confidentiality),  (b)  to  the  extent  requested  by  any   regulatory authority (including, for the avoidance of doubt, any central bank, the Federal  Reserve Bank or self-regulatory authority), (c) to the extent required by applicable laws  or regulations or by any subpoena or similar legal process, (d) to any other party hereto,  (e) in connection with the exercise of any remedies hereunder or under or any other Loan  Document or any suit, action or proceeding relating to this Agreement or any other Loan  Document  or  the  enforcement  of  rights  hereunder  or  thereunder, (f)  subject  to  an  agreement containing provisions substantially the same as those of this Section, to (i) any  assignee of or Participant in, or any prospective assignee of or Participant in, any of its  rights or obligations under this Agreement or (ii) any actual or prospective counterparty  (or its Related Parties) to any swap or derivative transaction relating to the Company or  any Subsidiary and its obligations, (g) with the consent of the Company, (h) to the extent   such Information (x) becomes publicly available other than as a result of a breach of this   Section or (y) becomes available to the Administrative Agent, any Lender, any L/C Issuer   or any Affiliate of any of the foregoing on a nonconfidential basis from a source other   than a Borrower, (i) on a confidential basis to the CUSIP Service Bureau or any similar   agency in connection with the issuance and monitoring of CUSIP numbers with respect   to this Agreement and (j) to market data collectors, including league table providers, and   other  services  providers  to  the  lending  industry,  in  each  case,  information  of  the  type   routinely  provided  to  such  service  providers.   For  the  purposes  of  this  Section,  “Information”  means  all  information  received  from  the  Company  or  any  of  its  Subsidiaries  relating  to  the  Company,  any  Subsidiary  or  any  of their  respective  businesses, other than any such information that is available to the Administrative Agent,  any  Lender  or  any  L/C  Issuer  on  a  nonconfidential  basis  prior  to  disclosure  by  the  Company or any of its Subsidiaries.  Any Person required to maintain the confidentiality  of Information as provided in this Section shall be considered to have complied with its  obligation to do so if such Person has exercised the same degree of care to maintain the  confidentiality of such Information as such Person would accord to its own confidential  information.               SECTION 11.14.  “Know Your Customer” Checks; Certain Notices.  (a)     If  (i) the  introduction  of  or  any change  in  (or  in  the  interpretation,  administration  or                                                                                [[3883081]]  

 

                                                                    116   application  of)  any  law  or  regulation  made  after  the  date  of  this  Agreement,  (ii) any  change in the status of a Loan Party after the date of this Agreement, or (iii) a proposed  assignment  or  transfer  by  a  Lender  of  any  of  its  rights  and/or obligations  under  this  Agreement to a party that is not a Lender prior to such assignment or transfer, obliges the  Administrative Agent or any Lender (or, in the case of clause (iii) above, any prospective  new Lender) to comply with “know your customer” or similar identification procedures  in  circumstances  where  the  necessary  information  is  not  already  available  to  it,  the  Company  shall  promptly  upon  the  request  of  the  Administrative  Agent  or  any  Lender  supply, or procure the supply of, such documentation and other evidence as is reasonably  requested  by  the  Administrative  Agent  (for  itself  or  on  behalf of  any  Lender)  or  any  Lender (for itself or, in the case of the event described in clause (iii) above, on behalf of  any prospective new Lender) in order for the Administrative Agent, such Lender or, in  the case of the event described in clause (iii) above, any prospective new Lender to carry  out and be satisfied it has complied with all necessary “know your customer” or other  similar  checks  under  all  applicable  laws  and  regulations  pursuant  to  the  transactions  contemplated in the Loan Documents.               (b)  Each  Lender  shall  promptly  upon  the  request  of  the  Administrative  Agent  supply,  or  procure  the  supply  of,  such  documentation  and other  evidence  as  is  reasonably  requested  by  the  Administrative  Agent  (for  itself)  in  order  for  the  Administrative  Agent  to  carry  out  and  be  satisfied  it  has  complied  with  all  necessary  “know your customer” or other similar checks under all applicable laws and regulations  pursuant to the transactions contemplated in the Loan Documents.               (c)   Each  Lender  that  is  subject  to  the  USA  PATRIOT  Act  and/or the  Beneficial  Ownership  Regulation  and  the  Administrative  Agent  (for  itself  and  not  on  behalf of any Lender) hereby notifies each Borrower that pursuant to the requirements of  the  USA  PATRIOT  Act  and/or  the  Beneficial  Ownership  Regulation,  it  is  required  to  obtain,  verify  and  record  information  that identifies  such  Borrower,  which  information  includes the name and address of such Borrower and other information that will allow  such Lender or Agent, as applicable, to identify such Borrower in accordance with the  USA PATRIOT Act and the Beneficial Ownership Regulation.               SECTION 11.15.  Conversion  of  Currencies.   (a)  If,  for  the  purpose  of  obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one  currency  into  another  currency,  each  party  hereto  (including  any  Foreign  Borrowing  Subsidiary)  agrees,  to  the  fullest  extent  that  it  may  effectively  do  so,  that  the  rate  of  exchange used shall be that at which in accordance with normal banking procedures in  the relevant jurisdiction the first currency could be purchased with such other currency on  the Business Day immediately preceding the day on which final judgment is given.               (b)  The  obligations  of  each  Borrower  in  respect  of  any  sum  due to any  party hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”)  shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than  the  currency  in  which  such  sum  is  stated  to  be  due  hereunder  (the  “Agreement  Currency”), be discharged only to the extent that, on the Business Day following receipt  by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency,                                                                                                 [[3883081]]  

 

                                                                    117   the  Applicable  Creditor  may  in  accordance  with  normal  banking  procedures  in  the  relevant  jurisdiction  purchase  the  Agreement  Currency  with  the Judgment  Currency;  provided that (i) if the amount of the Agreement Currency so purchased is less than the  sum originally due to the Applicable Creditor in the Agreement Currency, such Borrower  agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the  Applicable Creditor against such loss and (ii) if the amount of the Agreement Currency  so  purchased  is  greater  than  the  sum  originally  due  to  the  Applicable  Creditor  in  the  Agreement Currency, such Applicable Creditor shall remit the excess to the applicable  Borrower (but only if all amounts due and payable by the Company and the Subsidiaries  hereunder shall have been paid in full).               SECTION 11.16.  Interest  Rate  Limitation.   Notwithstanding  anything  herein to the contrary, if at any time the interest rate applicable to any Loan, together with  all  fees,  charges  and  other  amounts  that  are  treated  as  interest  on  such  Loan  under  applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the  “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by the  Lender holding such Loan in accordance with applicable law, the rate of interest payable  in respect of such Loan hereunder, together with all Charges payable in respect thereof,  shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges  that would have been payable in respect of such Loan but were not payable as a result of  the operation of this Section shall be cumulated and the interest and Charges payable to  such Lender in respect of other Loans or periods shall be increased (but not above the  Maximum Rate therefor) until such cumulated amount, together with interest thereon at  the Federal Funds Effective Rate to the date of repayment, shall have been received by  such Lender.               SECTION 11.17.  No Fiduciary Relationship.  Each Borrower, on behalf  of itself and its Subsidiaries, agrees that in connection with all aspects of the transactions  contemplated  hereby  and  any  communications  in  connection  therewith,  the  Borrowers  and their Affiliates, on the one hand, and the Administrative Agent, the Arrangers, the  Lenders,  the  L/C  Issuers  and  their  Affiliates,  on  the  other  hand,  will  have  a  business  relationship that does not create, by implication or otherwise, any fiduciary duty on the  part  of  the  Administrative  Agent,  the  Arrangers,  the  Lenders,  the L/C Issuers or their  Affiliates, and no such duty will be deemed to have arisen in connection with any such  transactions  or  communications.  Each  Borrower  acknowledges  that  the  Administrative  Agent, the Arrangers, the Lenders, the L/C Issuers and their Affiliates may be providing  debt financing, equity capital or other services (including financial advisory services) to  other companies that have or may in the future have interests conflicting with each such  Borrower’s own interests.               SECTION 11.18.  Company  as  Agent  of  Borrowing  Subsidiaries.   Each  Borrowing  Subsidiary  hereby  irrevocably  appoints  the  Company  as its agent for all  purposes of this Agreement and the other Loan Documents, including (a) the giving and  receipt  of  notices  (including any  Borrowing  Notice  and  any  Interest  Election  Request)  and  (b)  the  execution  and  delivery  of  all  documents,  instruments  and  certificates  contemplated  herein.  Each  Borrowing  Subsidiary  hereby  acknowledges  that  any  amendment or other modification to this Agreement or any other Loan Document may be                                                                                                 [[3883081]]  

 

                                                                     118    effected as set forth in Section 11.06, that no consent of such Borrowing Subsidiary shall   be required to effect any such amendment or other modification and that such Borrowing   Subsidiary  shall  be  bound  by  this  Agreement  or  any  other  Loan  Document  (if  it  is   theretofore a party thereto) as so amended or modified                SECTION 11.19.  Acknowledgement  and  Consent  to  Bail-In  of  EEA   Financial Institutions.  Notwithstanding anything to the contrary in this Agreement, any   other Loan Document or any related agreement, arrangement or understanding among the   parties hereto, each party hereto  acknowledges  that  any liability  of  any  EEA  Financial   Institution  arising  under  any  Loan  Document  may  be  subject  to  the  Write-Down  and   Conversion  Powers  of  an  EEA  Resolution  Authority  and  agrees  and  consents  to,  and   acknowledges and agrees to be bound by:                (a)  the application of any Write-Down and Conversion Powers by an EEA   Resolution Authority to any such liabilities arising hereunder that may be payable to it by   any party hereto that is an EEA Financial Institution; and                 (b)  the  effects  of  any  Bail-in  Action  on  any  such  liability,  including,  if  applicable:                      (i)  a  reduction  in  full  or  in  part  or  cancellation  of  any  such         liability;                      (ii)  a conversion of all, or a portion of, such liability into shares or         other  instruments  of  ownership  in  such  EEA  Financial  Institution,  its  parent         entity, or a bridge institution that may be issued to it or otherwise conferred on it,         and that such shares or other instruments of ownership will be accepted by it in         lieu of any rights with respect to any such liability under this Agreement or any        other Loan Document; or                      (iii)  the variation of the terms of such liability in connection with        the exercise of the Write-Down and Conversion Powers of any EEA Resolution        Authority.                SECTION 11.20.  Limitations  for  Swiss  Borrowers.   Notwithstanding   anything to the contrary in this Agreement or any other Loan Document, the following   limitations shall apply with respect to any Swiss Borrower:                (a)  If  complying  with  the  obligations  of  such  Swiss  Borrower  created   under  this  Agreement  or  any  other  Loan  Document  (including,  for  the  avoidance  of   doubt, complying with any right of indemnity or right of set-off which the Administrative   Agent  or  any  of  the  L/C  Issuers  or  Lenders  or  any  of  their  Affiliates  may  have,  but   excluding, for the avoidance of doubt, its payment obligations under this Agreement or   any other Loan Document with respect to the principal of and interest on Loans made to   it  and  reimbursement  of  L/C  Disbursements  under  Letters  of  Credit  issued  for  its   account) would constitute a repayment of capital (Einlagerückgewähr), a violation of the   legally  protected  reserves  (gesetzlich geschützte Reserven)  or  the  payment  of  a   (constructive)  dividend  (Gewinnausschüttung)  by  such  Swiss  Borrower  or  would                                                                                [[3883081]]  

 

                                                                    119   otherwise  be  restricted  under  applicable  Swiss  law  (the  “Restricted  Obligations”),  the  aggregate liability of such Swiss Borrower for Restricted Obligations shall not exceed an  amount equal to the maximum amount that such Swiss Borrower can make as a dividend  payment to its shareholder(s) in accordance with applicable Swiss law (the “Maximum  Amount”).  The foregoing limitation shall only apply to the extent that it is a requirement  under  applicable  Swiss  mandatory  law  (including  case  law)  at  the  time  such  Swiss  Borrower is required to perform its obligations under this Agreement or any other Loan  Document.   Such  limitation  shall  not  free  the  applicable  Swiss Borrower  from  its  Restricted  Obligations  in  excess  of  the  Maximum  Amount,  but  merely  postpone  the  performance  date  therefor  until  such  time  as  performance  is  again  permitted  notwithstanding  such  limitation.   The  applicable  Swiss  Borrower  shall  take  any  action  and pass any resolution (including, but not limited to, arranging for an interim audited  balance  sheet  and  holding  a  shareholders’  meeting)  to  enable  the  fulfilment  of  the  Restricted Obligations as soon as possible and in an amount as large as possible.               (b)  To the extent that the fulfilment of a Restricted Obligation is subject  to Swiss Federal Withholding Tax, the applicable Swiss Borrower:               (i) shall  (A)  use  its  best  endeavors to  procure  that  the  fulfilment of the        Restricted  Obligation  can  be  made  without  deduction  of  Swiss  Federal        Withholding Tax by discharging the liability of such Tax by notification pursuant        to applicable law rather than payment of such Tax, (B) if the notification        procedure pursuant to clause (A) above does not apply, deduct the Swiss Federal        Withholding Tax at such rate (x) as in force from time to time or (y) as provided        by any applicable double taxation treaties, from the applicable amount to be paid        and promptly pay any such Swiss Federal Withholding Tax deducted to the Swiss        Federal Tax Administration, and (C) provide (or cause the Company to provide)        the  Administrative  Agent  with  evidence  that  such  a  notification  of  the  Swiss        Federal  Tax  Administration  has  been  made  or,  as  the  case  may  be,  such  Swiss        Federal  Withholding  Tax  deducted  has  been  paid  to  the  Swiss  Federal  Tax        Administration;                (ii) shall use its best endeavors to procure that any Person that is entitled        to a full or partial refund of the Swiss Federal Withholding Tax deducted pursuant        to this paragraph (b) (A) request a refund of the Swiss Federal Withholding Tax        under applicable law as soon as possible, and (B) pay to the Administrative Agent        upon  receipt  any  amount  so  refunded  to  cover  any  outstanding  part  of  the        Restricted Obligation; and               (iii) shall  not  be  required  to  gross up,  indemnify  or  hold  harmless  the        Administrative Agent or any L/C Issuer or Lender or any Affiliate of any of the        foregoing  for  the  deduction  of  Swiss  Federal  Withholding  Tax  in  an  amount        exceeding  the  Maximum  Amount;  provided  that  nothing  in  this  Section  11.20        shall in any way limit any obligations of the Company or any other Borrowing        Subsidiary under the Loan Documents to gross up, indemnify or hold harmless        the Administrative Agent or any L/C Issuer or Lender or any Affiliate of any of                                                                                                 [[3883081]]  

 

                                                                     120          the foregoing  in respect of the deduction of the Swiss Federal Withholding Tax         (including any such obligation under Section 3.05).                (c)  If  the  fulfilment  of  an  obligation  by  a  Swiss  Borrower  would  be   subject to the limitation set forth in paragraph (a) of this Section 11.20, then such Swiss   Borrower  shall,  upon  request  of  the  Administrative  Agent,  to  the  extent  permitted  by   applicable law, revalue upward or realize any of its assets that are shown in its balance  sheet with a book value that is significantly lower than the market value of such assets, in  case  of  realization,  however,  only  if  such  assets  are  not  necessary  for  such  Swiss  Borrower’s  business  (nicht betriebsnotwendig)  and  do  not  have  any  negative  tax  consequences for such Swiss Borrower.               SECTION 11.21.  Waiver  of  Notice  Period  in  Connection  with   Termination of Existing Credit Agreement.  Upon the effectiveness of this Agreement,   the  Existing  Credit  Agreement  (except  for  the  indemnification, yield  protection  and   confidentiality provisions contained therein), and all Commitments under and as defined   in the Existing Credit Agreement, are hereby terminated.  Each Lender that is a party to   the Existing Credit Agreement hereby waives the three Business Days notice required for   the termination of the commitments under such Agreement.                           [Signatures on following pages]                                                                                 [[3883081]]  

 

 

 

 

 

 

 

Matthew Puckett Manager 

 

                                  JPMORGAN CHASE BANK, N.A.,                                 as the Administrative Agent, a Lender, a Swing                                 Line Lender and an L/C Issuer,                                  by                                                                    Name:  Antje Focke                                     Title:  Executive Director                 [Signature Page to the V.F. Corporation Five-Year Credit Agreement]                                                                                                                  [[3883081]]  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                   SIGNATURE PAGE TO                                                       V.F. CORPORATION                              FIVE-YEAR REVOLVING CREDIT AGREEMENT    Name of Lender:    GOLDMAN SACHS BANK USA,    by        Name: Annie Carr       Title: Authorized Signatory    [[3883081]]  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                      Schedule 2.01                                                                                     Commitments                                                           Lender            US Tranche Commitment       Global Tranche Commitment  JPMorgan Chase Bank, N.A.                         $0                     $185,000,000.00  Bank of America, N.A.                             $0                     $185,000,000.00  Barclays Bank PLC                                 $0                     $185,000,000.00  HSBC Bank USA, National                           $0                     $185,000,000.00  Association  U.S. Bank National Association                    $0                     $185,000,000.00  Wells Fargo Bank, N.A.                            $0                     $185,000,000.00  Citibank N.A.                                     $0                     $118,750,000.00  ING Bank N.A., Dublin Branch                      $0                     $118,750,000.00  PNC Bank, National Association                    $0                     $118,750,000.00  TD Bank N.A.                                      $0                     $118,750,000.00  BNP Paribas                                       $0                      $85,000,000.00  Banco Santander S.A., New York                    $0                      $85,000,000.00  Branch  Goldman Sachs Bank USA                            $0                      $85,000,000.00  SunTrust Bank                                     $0                      $85,000,000.00  UniCredit Bank AG, New York                       $0                      $85,000,000.00  Branch  Branch Banking and Trust                          $0                      $60,000,000.00  Company  The Bank of New York Mellon                       $0                      $60,000,000.00  Credit Suisse AG, Cayman Island                   $0                      $60,000,000.00  Branch  Morgan Stanley Bank, N.A. /                       $0                      $60,000,000.00  MUFG Bank, Ltd.                            Total                                             $0                   $2,250,000,000.00                [[3887030]]  

 

                                    Schedule 2.04                              Swing Line Commitments                  Lender                           Swing Line Commitment          JPMorgan Chase Bank, N.A.                     $100,000,000                   Total                                $100,000,000                                                 [[3887030]]  

 

                                       Schedule 2.05A                                  Existing Letters of Credit               Issuer             LC#           Currency                 Amount       Bank of America, N.A.      1288367         USD                   85,000.00       Bank of America, N.A.      3056526         USD                   537,000.00       Bank of America, N.A.      3057122         USD                   532,224.25       Bank of America, N.A.      3075985         USD                   500,000.00       Bank of America, N.A.      3095177         USD                  12,107,715.00       Bank of America, N.A.      3128293         USD                   148,318.00       Bank of America, N.A.     50087297         USD                   266,000.00       Bank of America, N.A.     64540003         USD                   661,922.00       Bank of America, N.A.     68141705         USD                   564,357.00       Total                                      USD                  15,402,536.25           [[3887030]]  

 

                                   Schedule 2.05B                                                                          L/C Commitments                    Lender                              L/C Commitment   JPMorgan Chase Bank, N.A.                             $8,333,333   Bank of America, N.A.                                 $8,333,333   Barclays Bank PLC                                     $8,333,333   HSBC Bank USA, National Association                   $8,333,333   U.S. Bank National Association                        $8,333,333   Wells Fargo Bank, N.A.                                $8,333,333   Total                                                $50,000,000         [[3887030]]  

 

                                                               EXHIBIT A                     [FORM OF] ASSIGNMENT AND ASSUMPTION                This Assignment and Assumption (this “Assignment and Assumption”) is   dated as of the Effective Date set forth below and is entered into by and between [Insert   name  of  Assignor]  (the  “Assignor”)  and  [Insert  name  of  Assignee]  (the  “Assignee”).   Capitalized terms used but not defined herein shall have the meanings given to them in   the  Credit  Agreement  identified  below  (the  “Credit  Agreement”),  receipt  of  a  copy  of   which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set   forth  in  Annex  1  attached  hereto  are  hereby  agreed  to  and  incorporated  herein  by   reference and made a part of this Assignment and Assumption as if set forth herein in   full.                 For  an  agreed  consideration,  the  Assignor  hereby  irrevocably  sells  and   assigns  to  the  Assignee,  and  the  Assignee  hereby  irrevocably  purchases  and  assumes   from the Assignor, subject to and in accordance with the Standard Terms and Conditions   and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent   as contemplated below, (a) all of the Assignor’s rights and obligations as a Lender under  the Credit Agreement and any other documents or instruments delivered pursuant thereto  to the extent related to the amount and percentage interest identified below of all of such  outstanding  rights  and  obligations  of  the  Assignor  under  the  respective  facilities  identified below (including, without limitation, Letters of Credit and Swing Line Loans  included in such facilities) and (b) to the extent permitted to be assigned under applicable  law, all claims, suits, causes of action and any other right of the Assignor (in its capacity  as  a  Lender)  against  any  Person,  whether  known  or  unknown,  arising  under  or  in  connection  with  the  Credit  Agreement,  any  other  documents  or  instruments  delivered  pursuant  thereto  or  the  loan  transactions  governed  thereby  or  in  any  way  based  on  or  related to any of the foregoing, including, but not limited to, contract claims, tort claims,  malpractice claims, statutory claims and all other claims at law or in equity related to the  rights  and  obligations  sold  and  assigned  pursuant  to  clause  (a)  above  (the  rights  and  obligations  sold  and  assigned  pursuant  to  clauses  (a)  and  (b)  above  being  referred  to  herein  collectively  as,  the  “Assigned  Interest”).  Such  sale  and  assignment  is  without   recourse  to  the  Assignor  and,  except  as  expressly  provided  in  this  Assignment  and   Assumption, without representation or warranty by the Assignor.                 (a)  Assignor:                                                                       (b)  Assignee:                                                       [and is an   Affiliate/Approved Fund of [identify Lender]]1                (c)  Borrowers:   V.F. Corporation, VF Investments S. à r.l., VF   Enterprises S. à r.l., VF Europe B.V.B.A., VF International Sagl and the other Borrowing  Subsidiaries from time to time party to the Credit Agreement.                                                         1 Select as applicable.                                                                                  [[3885807]]  

 

                 (d)  Administrative Agent:   JPMorgan Chase Bank, N.A., as the   administrative agent under the Credit Agreement                 (e)  Credit Agreement:   The  Five-Year  Revolving  Credit  Agreement   dated as of December 17, 2018, among V.F. Corporation, VF Investments S. à r.l., VF   Enterprises  S.  à  r.l.,  VF  Europe  B.V.B.A.,  VF  International  Sagl,  the  other  Borrowing   Subsidiaries  from  time  to  time  party  thereto,  JPMorgan  Chase  Bank,  N.A.,  as   Administrative Agent, and the Lenders party thereto from time to time (as from time to   time amended, restated, supplemented or otherwise modified).                (f)  Assigned Interest:    Facility Assigned  Aggregate Amount of Amount of       Percentage                    Commitment/Loans   Commitment/Loans   Assigned of the                    for all Lenders of the of the applicable Aggregate Amount                    applicable Class*  Class Assigned*    of Commitment/                                                          Loans of all Lenders                                                          of the applicable                                                          Class2   US Tranche       $                  $                          %   Commitments/ US   Tranche Revolving   Loans   Global Tranche   $                  $                          %   Commitments/   Global Tranche   Revolving Loans   [                    ]3           *  Amount  to  be  adjusted  by  the  counterparties  to  take  into  account  any  payments  or   prepayments made between the Trade Date and the Effective Date.                (g)  [Trade Date.                                                      , 20     ]4                (h)  Effective Date:                                                      ,  20        [TO  BE   INSERTED  BY  THE  ADMINISTRATIVE  AGENT  AND  WHICH  SHALL  BE  THE                                                          2  Set forth,  to at  least  9 decimals,  as  a percentage of  the  Commitment/Loans of  all Lenders  of  the   applicable Class thereunder.      3 In the event any new Class of Commitments or Loans is established pursuant to Section 2.16 of the  Credit Agreement, refer to the Class of such Commitments or Loans assigned.      4 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to   be determined as of the Trade Date.                                                                                  [[3885807]]  

 

     EFFECTIVE  DATE  OF  RECORDATION  OF  TRANSFER  IN  THE  REGISTER   THEREFOR.]     The terms set forth in this Assignment and Consented to and Accepted:   Assumption are hereby agreed to:                                         JPMORGAN CHASE BANK, N.A., as   ________________, as Assignor,     Administrative Agent,                                           by                               by         _____________________________       _____________________________         Name:                              Name:         Title:                             Title:                                                                                                                  [Consented to:   ________________, as Assignee,                                                by                               V.F. CORPORATION,]5         _____________________________          Name:                        by         Title:                             _____________________________                                            Name:                                            Title:                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                  JPMORGAN CHASE BANK, N.A., as an                                      L/C Issuer and the Swing Line Lender,                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                  BANK OF AMERICA, N.A., as an L/C                                      Issuer,                                                                                                5 To be added only if the consent of the Company is required pursuant to the definition of  “Eligible Assignee” or Section 11.02(b) of the Credit Agreement.                                                                                  [[3885807]]  

 

                                      by                                           _____________________________                                           Name:                                           Title:                                                                          BARCLAYS BANK PLC, as an L/C Issuer,                                                                           by                                           _____________________________                                           Name:                                           Title:                                                                                                               HSBC BANK USA, NATIONAL                                     ASSOCIATION, as an L/C Issuer,                                                                          by                                           _____________________________                                           Name:                                           Title:                                                                                                               U.S. BANK NATIONAL ASSOCIATION,                                     as an L/C Issuer,                                                                          by                                           _____________________________                                           Name:                                           Title:                                                                                                               WELLS FARGO BANK, N.A., as an L/C                                     Issuer,                                                                          by                                           _____________________________                                           Name:                                           Title:                                                                                                               [[NAME OF EACH OTHER L/C ISSUER],                                     as an L/C Issuer,]                                                                          by                                           _____________________________                                           Name:                                                                               [[3885807]]  

 

                                            Title:                                                                                               [[3885807]]  

 

                                                             ANNEX 1 TO                                            ASSIGNMENT AND ASSUMPTION                                                                                              STANDARD TERMS AND CONDITIONS FOR                       ASSIGNMENT AND ASSUMPTION              1.   Representations and Warranties.                          1.1  Assignor.  The Assignor (a) represents and warrants that (i)  it  is  the   legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and   clear  of  any  lien,  encumbrance  or other adverse claim and (iii)  it  has  full  power  and   authority, and has taken all action necessary, to execute and deliver this Assignment and   Assumption and to consummate the transactions contemplated hereby; and (b) assumes   no responsibility with respect to (i) any statements, warranties or representations made in   or in connection with the Credit Agreement or any other Loan Document, other than its   representations  and  warranties  set  forth  in  this  Assignment  and  Assumption,  (ii)  the   execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan   Documents or any collateral thereunder, (iii) the financial condition of the Company, any   of  its  Subsidiaries  or  Affiliates  or  any  other  Person  obligated  in  respect  of  any  Loan   Document or (iv) the performance or observance by the Company, any of its Subsidiaries   or Affiliates or any other Person of any of their respective obligations under any Loan   Document.                           1.2  Assignee.  The Assignee (a) represents and warrants that (i) it has full   power  and  authority,  and  has  taken  all  action  necessary,  to  execute  and  deliver  this   Assignment  and  Assumption  and  to  consummate  the  transactions  contemplated  hereby   and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an   Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may   be required under the Credit Agreement), (iii) from and after the Effective Date, it shall   be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the   extent of the Assigned Interest, shall have the obligations of a Lender thereunder and (iv)  it has received a copy of the Credit Agreement, together with copies of the most recent  financial statements delivered pursuant to Section 5.04 or 6.01 thereof, as applicable, and  such  other  documents  and  information  as  it  has  deemed  appropriate  to  make  its  own  credit  analysis  and  decision  to  enter  into  this  Assignment  and Assumption  and  to   purchase  the  Assigned  Interest  on  the  basis  of  which  it  has  made  such  analysis  and   decision independently and without reliance on the Administrative Agent, any Arranger   or any other Lender; and (b) agrees that (i) it will, independently and without reliance on   the Administrative Agent, any Arranger, the Assignor or any other Lender, and based on   such  documents  and  information  as  it  shall  deem  appropriate  at the  time,  continue  to   make its own credit decisions in taking or not taking action under the Loan Documents,   and (ii) it will perform in accordance with their terms all of the obligations which by the   terms of the Loan Documents are required to be performed by it as a Lender.                           2.   Payments.   From  and  after  the  Effective  Date,  the  Administrative   Agent shall make all payments in respect of the Assigned Interest (including payments of   principal, interest, fees and other amounts) to the Assignee whether such amounts have  accrued prior to or on or after the Effective Date. The Assignor and the Assignee shall  make all appropriate adjustments of payments by the Administrative Agent for periods                                                                                                                      [[3885807]]  

 

   prior  to  the  Effective  Date  or  with  respect  to  the  making  of  this  assignment  directly  between themselves.                         3.   General  Provisions.   This  Assignment  and  Assumption  shall  be  binding  upon,  and  inure  to  the  benefit  of,  the  parties  hereto  and  their  respective  successors  and  assigns.  This  Assignment  and  Assumption  may  be  executed  in  any  number of counterparts, which together shall constitute one instrument. Delivery of an  executed counterpart of a signature page of this Assignment and Assumption by telecopy  shall be effective as delivery of a manually executed counterpart of this Assignment and  Assumption. This Assignment and Assumption shall be governed by, and  construed  in  accordance with, the law of the State of New York.                                                                                                                    [[3885807]]  

 

                                                           EXHIBIT B                      [FORM OF] BORROWING NOTICE   JPMorgan Chase Bank, N.A.,   Loan and Agency Services Group  10 South Dearborn  Chicago, IL 60603-2003  Attention:  Julius Williams   Fax: 844-490-5663  Julius.C.Williams@JPMorgan.com  JPM.Agency.Servicing.1@JPMorgan.com    with a copy to:   JPMorgan Chase Bank, N.A.  712 Main Street, 5th Floor North  Houston, TX 77002  Attention:  Antje B. Focke  Fax: 713-216-6710  antje.b.focke@jpmorgan.com                                                                 [Date]   Ladies and Gentlemen:              Reference is made to the Five-Year Revolving Credit Agreement dated  as  of  December  17,  2018,  among  V.F.  Corporation,  VF  Investments  S.  à  r.l.,  VF  Enterprises S .à r.l., VF Europe B.V.B.A., VF International Sagl, the other Borrowing  Subsidiaries  from  time  to  time  party  thereto,  JPMorgan  Chase  Bank,  N.A.,  as  Administrative Agent, and the Lenders party thereto from time to time (as from time  to  time  amended,  restated,  supplemented  or  otherwise  modified, the  “Credit  Agreement”).  Capitalized terms used but not otherwise defined herein shall have the  meanings specified in the Credit Agreement.              This  notice  constitutes  a  Borrowing  Notice  and  the  Company  [on  behalf  of  the  Borrowing  Subsidiary  identified  below]  hereby  gives  you  notice,  pursuant to Section 2.03 of the Credit Agreement, that it requests a Borrowing under  the Credit Agreement, and in that connection specifies the following information with  respect to such Borrowing:              (a) Borrower:               (b) [Swing Line Lender:]1                                                        1 In the case of a requested Borrowing of a Swing Line Loan of any Class, specify the  Swing Line Lender (if there shall be more than one Swing Line Lender) requested to make  such Loan.                                                                                                                 [[3885807]]  

 

                 (c) Class of Borrowing:2                 (d) Type of Borrowing:3                 (e) Aggregate principal amount of Borrowing denominated in [US                    Dollars][specify Alternative Currency] and in an amount equal                    to4:  [US$][specify Alternative Currency]_______________                 (f) Date of Borrowing (which is a Business Day): _______________                 (g) Interest Period and the last day thereof5:                      ____________________                 (h) [Location and number of the applicable Borrower’s account to                    which proceeds of the requested Borrowing are to be disbursed                    (give name of bank and account number):  [         ] (Account No.:                    ______________)] [Name of the L/C Issuer that made the L/C                    Disbursements the reimbursement of which is intended to be                    made with the proceeds of the requested Borrowing:]6                 (i) [Jurisdiction from which payments on the principal and interest                    on the requested Borrowing will be made:]7                 The  Company  hereby  certifies  that,  after  giving  effect  to  the  Borrowing  requested  hereby,  (i)  [the  Aggregate  Global  Tranche  Revolving  Credit  Exposure  shall  not  exceed  the  aggregate  Global  Tranche  Commitments][the                                                        2 Specify US Tranche Revolving Borrowing, Global Tranche Revolving Borrowing, US   Tranche Swing Line Loan Borrowing or Global Tranche Swing Line Loan Borrowing.      3 In the case of a requested Borrowing of Revolving Loans denominated in US Dollars,  specify  Adjusted  LIBOR  Borrowing  or  ABR  Borrowing.   In  the  case  of  a  requested  Borrowing of Revolving Loans (a) denominated in an Alternative Currency other than Euro  and  Canadian  Dollars,  specify  as  LIBOR  Borrowing,  (b)  denominated  in  Euro,  specify  as  EURIBOR  Borrowing  and  (c)  denominated  in  Canadian  Dollars,  specify  as  CDOR  Borrowing.  In the case of a requested Borrowing of a Swing Line Loan denominated in US  Dollars,  specify  as  an  ABR  Borrowing.  Each  requested  Borrowing of  a  Swing  Line  Loan  denominated in Euro, specify as an Euro Overnight Rate Loan Borrowing.      4 Must comply with Section 2.02(c) of the Credit Agreement.      5 Applicable to LIBOR, CDOR or EURIBOR Borrowings only. Shall be subject to the   definition  of  “Interest  Period”  and  Section  2.02(d)  of  the  Credit  Agreement  and  can  be  a   period of (i) one week, if quotations are available for deposits of such duration, or (ii) one,   two,  three  or  six  months  (or,  if  agreed  to  by  each  Lender  participating  therein,  twelve   months).      6  Selection  as  applicable  in  accordance  with  Section  2.03  or  2.04  of  the  Credit   Agreement.       7 Specify only in the case of a Borrowing requested by a Foreign Borrowing Subsidiary.                                                                                                                                 [[3885807]]  

 

   Aggregate  US  Tranche  Revolving  Exposure  shall  not  exceed  the  aggregate  US  Tranche  Commitments],  (ii)  the  Aggregate  Revolving  Credit  Exposure  shall  not  exceed  the  aggregate  Commitments  and  (iii)  [the  Swing  Line  Exposure  shall  not  exceed US$100,000,000]8.                                      Very truly yours,                                                                            V.F. CORPORATION,                                          by                                                                                    Name:                                            Title:                                                                                                            8 For any Swing Line Loan.                                                                                                                  [[3885807]]  

 

                                                             EXHIBIT C-1                            [FORM      OF]    BORROWING        SUBSIDIARY                     AGREEMENT  dated  as  of  [                   ],  20[   ]  (this                     “Agreement”),  among  V.F.  CORPORATION,  a  Pennsylvania                     corporation  (the  “Company”),  [NAME  OF  BORROWING                     SUBSIDIARY],  a  [jurisdiction  of  organization]  [type  of  entity]                     (the  “New  Borrowing  Subsidiary”),  and  JPMORGAN  CHASE                     BANK, N.A., as Administrative Agent.                Reference is made to the Five-Year Revolving Credit Agreement dated as  of December 17, 2018, among the Company, VF Investments S. à r.l., VF Enterprises S.  à r.l., VF Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries from  time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the   Lenders  party  thereto  from  time  to  time  (as  from  time  to  time  amended,  restated,   supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used   and not otherwise defined herein have the meanings specified in the Credit Agreement.                Under the Credit Agreement, the Lenders, the Swing Line Lenders and the   L/C Issuers have agreed, upon the terms and subject to the conditions set forth therein, to   make  Loans  to,  and  issue  Letters  of  Credit  for  the  accounts  of,  the  Borrowing   Subsidiaries, and the Company and the New Borrowing Subsidiary desire that the New   Borrowing  Subsidiary  become  a  “Borrowing  Subsidiary”  and  a  [“Global  Tranche   Borrower”][“US Tranche Borrower”].  The Company represents that the New Borrowing   Subsidiary is a wholly owned Subsidiary.  Each of the Company and the New Borrowing   Subsidiary represent and warrant that the representations and warranties of the Company   in the Credit Agreement relating to the New Borrowing Subsidiary and this Agreement   are true and correct on and as of the date hereof.  The Company agrees that the Guarantee   of the Company contained in the Credit Agreement will apply to the Obligations of the   New Borrowing Subsidiary.                Upon  execution  of  this  Agreement  by  each  of  the  Company,  the  New   Borrowing  Subsidiary  and  the  Administrative  Agent  and  the  satisfaction  of  the  other   conditions  set  forth  in  Sections  2.14  and  4.03  of  the  Credit  Agreement,  the  New   Borrowing  Subsidiary  shall  be  a  party  to  the  Credit  Agreement  and  shall  constitute  a   “Borrowing  Subsidiary”  and  a  “Borrower”  and  a  [“Global  Tranche Borrower”][“US   Tranche Borrower”] for all purposes thereof.                This  Agreement  shall be  construed  in  accordance  with and  governed  by   the law of the State of New York.                                                                                                                       [[3885807]]  

 

               IN WITNESS WHEREOF, the parties hereto have caused this Agreement  to  be  duly  executed  by  their  authorized  officers  as  of  the  date  first  appearing  above.                                            V.F. CORPORATION,                                          by            Name:                                               Title:                                           by            Name:                                               Title:                                             [NAME OF NEW BORROWING                                         SUBSIDIARY],                                          by            Name:                                               Title:                                             JPMORGAN CHASE BANK,                                         N.A., as Administrative Agent,                                          by            Name:                                               Title:                                                                                                                                        [[3885807]]  

 

                                                            EXHIBIT C-2              [FORM OF] BORROWING SUBSIDIARY TERMINATION   JPMorgan Chase Bank, N.A.,   Loan and Agency Services Group  10 South Dearborn  Chicago, IL 60603-2003  Attention:  Julius Williams   Fax: 844-490-5663  Julius.C.Williams@JPMorgan.com  JPM.Agency.Servicing.1@JPMorgan.com    with a copy to:   JPMorgan Chase Bank, N.A.  712 Main Street, 5th Floor North  Houston, TX 77002  Attention:  Antje B. Focke  Fax: 713-216-6710  antje.b.focke@jpmorgan.com                                                          [                   ], 20[   ]   Ladies and Gentlemen:               The  undersigned,  V.F.  Corporation, a  Pennsylvania  corporation  (the  “Company”), refers to the Five-Year Revolving Credit Agreement dated as of December  17,  2018,  among  the  Company,  VF  Investments  S.  à  r.l.,  VF  Enterprises  S.  à  r.l.,  VF  Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries from time to  time  party  thereto,  JPMorgan  Chase  Bank,  N.A.,  as  Administrative  Agent,  and  the  Lenders  party  thereto  from  time  to  time  (as  from  time  to  time  amended,  restated,  supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used  and not otherwise defined herein have the meanings specified in the Credit Agreement.               The  Company  hereby  terminates  the  status  of  [                             ]  (the  “Terminated  Borrowing  Subsidiary”)  as  a  Borrowing  Subsidiary  under  the  Credit  Agreement.  [The Company represents and warrants that as of the date hereof all Loans  made  to  the  Terminated  Borrowing  Subsidiary  have  been  repaid,  all  Letters  of  Credit  issued for the account of the Terminated Borrowing Subsidiary have been drawn in full  or  have  expired  or  been  cash  collateralized  in  accordance  with Section  2.05(j)  of  the  Credit Agreement and all amounts payable by the Terminated Borrowing Subsidiary in  respect  of  L/C  Disbursements,  interest  and/or  fees  (and,  to  the  extent  notified  by  the  Administrative  Agent  or  any  Lender,  any  other  amounts  payable  under  the  Credit  Agreement  by  the  Terminated  Borrowing  Subsidiary)  have  been  paid  in  full.]   [The  Company acknowledges that the Terminated Borrowing Subsidiary shall continue to be a  Borrowing Subsidiary until such time as all Loans made to the Terminated Borrowing  Subsidiary  have  been  repaid,  all  Letters  of  Credit  issued  for  the  account  of  the                                                                                                                   [[3885807]]  

 

   Terminated Borrowing Subsidiary have been drawn in full or have expired or been cash  collateralized in accordance with Section 2.05(j) of the Credit Agreement and all amounts  payable  by  the  Terminated  Borrowing  Subsidiary  in  respect  of  L/C  Disbursements,  interest  and/or  fees  (and,  to  the  extent  notified  by  the  Administrative  Agent  or  any  Lender,  any  other  amounts  payable  under  the  Credit  Agreement  by the Terminated  Borrowing Subsidiary) have been paid in full; provided that the Terminated Borrowing  Subsidiary  shall  not  have  the  right  to  make  further  Borrowings under  the  Credit  Agreement.]               This instrument shall be construed in accordance with and governed by the  law of the State of New York.                                     Very truly yours,                                                                          V.F. CORPORATION,                                     by                Name:                                            Title:                                           by                Name:                                            Title:                                                                                              [[3885807]]  

 

                                                               EXHIBIT D                    [FORM OF] INTEREST ELECTION REQUEST    JPMorgan Chase Bank, N.A.,    Loan and Agency Services Group   10 South Dearborn   Chicago, IL 60603-2003   Attention:  Julius Williams    Fax: 844-490-5663   Julius.C.Williams@JPMorgan.com   JPM.Agency.Servicing.1@JPMorgan.com      with a copy to:    JPMorgan Chase Bank, N.A.   712 Main Street, 5th Floor North   Houston, TX 77002   Attention:  Antje B. Focke   Fax: 713-216-6710   antje.b.focke@jpmorgan.com    Ladies and Gentlemen:                The  undersigned,  V.F.  Corporation, a  Pennsylvania  corporation  (the   “Company”), refers to the Five-Year Revolving Credit Agreement dated as of December   17,  2018,  among  the  Company,  VF  Investments  S.  à  r.l.,  VF  Enterprises  S.  à  r.l.,  VF   Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries from time to   time  party  thereto,  JPMorgan  Chase  Bank,  N.A.,  as  Administrative  Agent,  and  the   Lenders  party  thereto  from  time  to  time  (as  from  time  to  time  amended,  restated,   supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used   and not otherwise defined herein have the meanings specified in the Credit Agreement.               This notice constitutes an Interest Election Request and the Company [on   behalf of [NAME OF BORROWER]] (the “Borrower”)] hereby gives notice, pursuant to   Section 2.07 of the Credit Agreement, that it requests the conversion or continuation of a   Borrowing under the Credit Agreement, and in that connection the Company specifies the  following information with respect to such Borrowing and each resulting Borrowing:          1. Borrowing to which this request applies:              Principal Amount and Currency:  _______________________________               Class:1 ________________________________               Type:  _______________________________               Interest Period:2  _______________________________                                                          1 Specify US Tranche Revolving Borrowing or Global Tranche Revolving Borrowing.                                                                                  [[3885807]]  

 

                             2. Effective date of this election:3  _______________________________         3. Resulting Borrowing[s]4                  Principal Amount and Currency: ______________________________                  Class: _________________________                  Type:  _______________________________                  Interest Period:5  _______________________________                                           Very truly yours,                                                                 V.F. CORPORATION,                                              by                                                                                            Name:                                                 Title:                                                         2   In  the  case  of  a  LIBOR,  CDOR  or  EURIBOR  Borrowing,  specify  the  last  day  of  the  current Interest Period therefor.      3  Must be a Business Day.     4   If different options are being elected with respect to different portions of the Borrowing,  provide  the  information  required  by  this  item  3  for  each  resulting  Borrowing.   Each  resulting  Borrowing shall be in an aggregate amount that is an integral multiple of, and not less than, the  amount  specified  for  a  Borrowing  of  such  Type  and  Class  in  Section  2.02(c)  of  the  Credit  Agreement.     5   Applicable  only  if  the  resulting  Borrowing  is  to  be  a  LIBOR, CDOR  or  EURIBOR  Borrowing.   In  the  case  of  a  LIBOR,  CDOR  or  EURIBOR  Borrowing, shall  be  subject  to  the  definition of “Interest Period” and Section 2.02(d) of the Credit Agreement and can be a period of  (i) one week, if quotations are available for deposits of such duration, or (ii) one, two, three or six  months  (or,  if  agreed  to  by  each  Lender  participating  therein, twelve  months).  If  an  Interest  Period is not specified, then the Company shall be deemed to have selected an Interest Period of  one month’s duration.  In no case  may such Borrowing extend beyond the Stated Termination  Date.                                                                                       [[3885807]]  

 

                                                               EXHIBIT E                            [FORM  OF]  L/C  ISSUER  AGREEMENT  dated  as  of                     [                      ],  20[  ]  (this  “Agreement”),  among  V.F.                     CORPORATION,  a  Pennsylvania  corporation  (the  “Company”),                     [NAME  OF  L/C  ISSUER],  a  [             ]  (the  “New  L/C  Issuer”),                     and JPMORGAN CHASE BANK, N.A., as Administrative Agent.                Reference is made to the Five-Year Revolving Credit Agreement dated as  of December 17, 2018, among the Company, VF Investments S. à r.l., VF Enterprises S.  à r.l., VF Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries from  time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the   Lenders  party  thereto  from  time  to  time  (as  from  time  to  time  amended,  restated,   supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used   and not otherwise defined herein have the meanings specified in the Credit Agreement.                  Under the Credit Agreement, the L/C Issuers have agreed to issue Letters   of Credit for the account of the Borrowers on the terms and subject to the conditions set   forth therein.  Upon execution of this Agreement by each of the Company, the New L/C   Issuer and the Administrative Agent, the New L/C Issuer shall be a party to the Credit   Agreement as an “L/C Issuer” thereunder for all purposes of the Credit Agreement and   the other Loan Documents, and shall have all the rights and obligations of an L/C Issuer   under  the  Credit  Agreement  and  the  other  Loan  Documents,  and  the  New  L/C  Issuer   hereby agrees to be bound by all provisions of the Credit Agreement applicable to it as an   L/C  Issuer  thereunder.   The  L/C  Commitment  of  the  New  L/C  Issuer  is   US$[                    ].1                 This  Agreement  shall be  construed  in  accordance  with and  governed  by  the law of the State of New York.  This Agreement may be executed in counterparts (and  by  different  parties  hereto  on  different  counterparts),  each  of which shall constitute an  original, but all of which when taken together shall constitute a single contract.                      [Remainder of page intentionally left blank]                                                          1  If  applicable,  set  forth  any  limit  on  the  currencies  in  which the  New  L/C  Issuer  will  be  required to issue Letters of Credit or on the Borrowers for the accounts of which the New L/C  Issuer will be required to issue Letters of Credit.                                                                                [[3885807]]  

 

               IN WITNESS WHEREOF, the parties hereto have caused this Agreement  to be duly executed by their authorized officers as of the date first appearing above.                                             V.F. CORPORATION,                                          by            Name:                                                Title:                                           by            Name:                                                Title:                                               [NAME OF NEW L/C ISSUER],                                          by            Name:                                                Title:                                                                                      JPMORGAN CHASE BANK, N.A.,                                         as Administrative Agent,                                          by            Name:                                                Title:                                                                                                                           [[3885807]]  

 

                                                               EXHIBIT F                       [FORM  OF]  ACCESSION  AGREEMENT  dated  as  of                     [                  ],  20__  (this  “Agreement”),  among  V.F.                     CORPORATION,  a  Pennsylvania  corporation  (the  “Company”),                     [                       ] (each, an “Increasing Lender”), and JPMORGAN                     CHASE BANK, N.A., as Administrative Agent.                Reference is made to the Five-Year Revolving Credit Agreement dated as  of December 17, 2018, among the Company, VF Investments S. à r.l., VF Enterprises S.  à r.l., VF Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries from  time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the   Lenders  party  thereto  from  time  to  time  (as  from  time  to  time  amended,  restated,   supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used   and not otherwise defined herein have the meanings specified in the Credit Agreement.                The  Company  desires,  pursuant  to  Section  2.08(d)  of  the  Credit   Agreement,  to  increase  the  aggregate  amount  of  the  [Global  Tranche] [US Tranche]   Commitments by US$[          ] to US$[          ] (the “Commitment Increase”).  The date of   effectiveness  of  the  Commitment  Increase  in  accordance  with  Section  2.08(d)  of  the   Credit Agreement is referred to herein as the “Commitment Increase Effective Date”.                [Each Increasing Lender that, prior to the Commitment Increase Effective  Date, is a [Global Tranche][US Tranche] Lender hereby agrees that, effective as of the  Commitment  Increase  Effective  Date,  (a)  the  [Global  Tranche][US  Tranche]  Commitment  of  such  Increasing  Lender  shall  be  increased  by  an  amount  equal  to  the  amount set forth opposite the name of such Increasing Lender on Schedule I hereto under  the caption “[Global Tranche][US Tranche] Commitment Increase Amount” and (b) such  Increasing Lender shall have all of the rights and obligations of a [Global Tranche][US  Tranche] Lender under the Credit Agreement in respect of the amount of such increase in  the [Global Tranche][US Tranche] Commitment of such Increasing Lender (as well as all  the rights and obligations of such Increasing Lender in respect of its [Global Tranche][US  Tranche]  Commitments  in  effect  immediately  prior  to  the  Commitment  Increase  Effective Date).]               [Each Increasing Lender that, prior to the Commitment Increase Effective  Date, is not a [Global Tranche] [US Tranche] Lender hereby (a) represents and warrants  that such Increasing Lender is an Eligible Assignee and (b) agrees that, effective as of the  Commitment  Increase  Effective  Date,  (i)  such  Increasing  Lender shall  have  a  [Global  Tranche][US Tranche] Commitment in an amount equal to the amount set forth opposite  the  name  of  such  Increasing  Lender  on  Schedule  I  hereto  under  the  caption  “[Global  Tranche][US Tranche] Commitment Increase Amount” and (ii) such Increasing Lender  shall be party to the Credit Agreement as a [Global Tranche][US Tranche] Lender for all  purposes of the Credit Agreement and the other Loan Documents, and shall have all the  rights  and  obligations  of  a  [Global  Tranche][US  Tranche]  Lender  under  the  Credit  Agreement, and agrees to be bound by all provisions of the Credit Agreement applicable  to it as a [Global Tranche][US Tranche] Lender thereunder.]                                                                                [[3885807]]  

 

                                                                      2                                                                                       [Each of the Administrative Agent, each L/C Issuer and each Swing Line  Lender  hereby  approves  the  identity  of  each  Increasing  Lender  that, prior to the  Commitment Increase Effective Date, is not a Lender.]               This  Agreement  shall be  construed  in  accordance  with and  governed  by  the law of the State of New York. This Agreement may be executed in counterparts (and  by  different  parties  hereto  on  different  counterparts),  each  of which shall constitute an  original, but all of which when taken together shall constitute a single contract.                     [Remainder of page intentionally left blank]                                                                                               [[3885807]]  

 

                                                                      3                                                                                       IN WITNESS WHEREOF, the parties hereto have caused this Agreement  to be duly executed by their duly authorized officers, all as of the day and year first above  written.                                        V.F. CORPORATION,                                          by                                                                                    Name:                                             Title:                                                                                    by                                                                                    Name:                                             Title:                                                                                     JPMORGAN CHASE BANK, N.A.,                                       as Administrative Agent,                                          by                                                                                    Name:                                             Title:                                           [INSERT NAME OF INCREASING                                      LENDER],                                          by                                                                                    Name:                                             Title:                                           [JPMORGAN CHASE BANK, N.A., as an                                      L/C Issuer and the Swing Line Lender,                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                                     [[3885807]]  

 

                                                                                                                                                    BANK OF AMERICA, N.A., as an L/C                                      Issuer,                                                                             by                                            _____________________________                                            Name:                                            Title:                                                                                                                  BARCLAYS BANK PLC, as an L/C Issuer,                                                                             by                                            _____________________________                                            Name:                                            Title:                                                                                                                                                        HSBC BANK USA, NATIONAL                                      ASSOCIATION, as an L/C Issuer,                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                  U.S. BANK NATIONAL ASSOCIATION,                                      as an L/C Issuer,                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                  WELLS FARGO BANK, N.A., as an L/C                                      Issuer,                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                                                                          [[3885807]]  

 

                                                                                                                                                    [[NAME OF EACH OTHER L/C ISSUER],                                      as an L/C Issuer,]]1                                                                            by                                            _____________________________                                            Name:                                            Title:                                                                                                                                                        1 Consent  of  the  L/C  Issuers  and  the  Swing  Line  Lenders  to  be  included  if  an  Increasing  Lender party hereto is not already a Lender.                                                                                              [[3885807]]  

 

                                                                Schedule I                                 Commitment Increase            Increasing Lender         [Global Tranche][US Tranche] Commitment                                                Increase Amount1                                                                                                                                                                                                                                                     1  Amount  must  be  equal  to  US$20,000,000  or  an  integral  multiple of  US$5,000,000  in  excess thereof.                                                                                [[3885807]]  

 

                                                               EXHIBIT G                       [FORM OF] COMPLIANCE CERTIFICATE    JPMorgan Chase Bank, N.A.,    Loan and Agency Services Group   10 South Dearborn   Chicago, IL 60603-2003   Attention:  Julius Williams    Fax: 844-490-5663   Julius.C.Williams@JPMorgan.com   JPM.Agency.Servicing.1@JPMorgan.com      with a copy to:    JPMorgan Chase Bank, N.A.   712 Main Street, 5th Floor North   Houston, TX 77002   Attention:  Antje B. Focke   Fax: 713-216-6710   antje.b.focke@jpmorgan.com                Reference is made to the Five-Year Revolving Credit Agreement dated as  of December 17, 2018, among V.F. Corporation, VF Investments S. à r.l., VF Enterprises  S. à r.l., VF Europe B.V.B.A., VF International Sagl, the other Borrowing Subsidiaries  from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent,  and the Lenders party thereto from time to time (as from time to time amended, restated,  supplemented or otherwise modified, the “Credit Agreement”).  Capitalized terms used   but not otherwise defined herein shall have the respective meanings therefor set forth in   the Credit Agreement.                The undersigned, a duly authorized and acting Authorized Representative,   hereby certifies to the Administrative Agent as follows:     I.   Calculations:          A.   Compliance with Section 7.01: Consolidated Indebtedness to Consolidated   Capitalization as of [                         ], 20__ 1 (the “Determination Date”):                1. Consolidated Indebtedness as of the US$[                         ]                  Determination Date                                                          1 The Determination Date is the last day of the fiscal quarter or fiscal year covered by the   financial statements that are being delivered concurrently with the delivery of this Compliance   Certificate pursuant to Section 6.01(a) or 6.01(b) of the Credit Agreement.                                                                                 [[3885807]]  

 

                                                                                                 2. Consolidated Net Worth as of the       US$[                         ]                   Determination Date                  3. Consolidated Capitalization as of the  US$[                         ]                   Determination Date (sum of A.1 and A.2)                 4. Ratio of A.1 to A.3*                   _________ to 1.00                 *Required: A.4 must not be greater than 0.60 to 1.00 at any time.            B.     Compliance with Section 7.02(j): Liens                 1. Consolidated Net Worth as of the     US$[                         ]                Determination Date                  2. B.1 X 15%                            US$[                         ]                 3. Is the aggregate principal amount of    Yes        No                Indebtedness secured by Liens not permitted                under Sections 7.02(a) through 7.02(i) less                than B.2?                  4. B.1 x 20%                            US$[                         ]                 5. Is the sum of (1) the aggregate principal Yes      No                amount of Indebtedness secured by the Liens                not permitted under Sections 7.02(a) through                7.02(i) and (2) the aggregate principal                amount of Indebtedness incurred in                accordance with Section 7.03(f) less than                B.4?            C.    Compliance with Section 7.03(f): Indebtedness of Subsidiaries                 1. Is the aggregate principal amount of     Yes       No                Indebtedness not permitted under Sections                7.03(a) through 7.03(e) less than B.2?              II.   No Default:                                                                                        [[3885807]]  

 

                                                                                No Default or Event of Default has occurred and is continuing on the date of this        Compliance Certificate[, except as set forth below]2.                      [Remainder of page intentionally left blank]                                                         2 Set forth the details of any Default or Event of Default and the action that the Company is  taking or proposes to take with respect thereto.                                                                                              [[3885807]]  

 

                                                                                      IN  WITNESS  WHEREOF,  I  have  executed  this  Compliance  Certificate  this [            ] day of [                      ], 20__.                                          V.F. CORPORATION,                                          by                                                                                    Name:                                             Title:                                                                                                                                          [[3885807]]Exhibit 10.1

 

Execution Version

 

CONTRIBUTION AGREEMENT

 

This CONTRIBUTION AGREEMENT (this “Agreement”), is made and entered into as of January 31, 2019, by and between EnLink Midstream, LLC, a Delaware limited liability Company (“ENLC”), and EnLink Midstream Partners, LP, a Delaware limited partnership and a subsidiary of ENLC (“ENLK”). ENLC and ENLK are referred to herein collectively as the “Parties” and each individually as a “Party.”  Capitalized terms used but not defined herein have the meaning given them in the First Amended and Restated Agreement of Limited Partnership (the “EOGP Partnership Agreement”) of EnLink Oklahoma Gas Processing, LP, a Delaware limited partnership (“EOGP”).

 

RECITALS:

 

WHEREAS, ENLC (as successor to EnLink Midstream, Inc.) owns limited partnership interests in EOGP (“EOGP Interests”) with an associated Percentage Interest of 16.129% (the “Contributed Interests”);

 

WHEREAS, ENLC owns 100% of the common units representing limited partnership interests in ENLK (the “ENLK Common Units”);

 

WHEREAS, EnLink Midstream Operating, LP, a Delaware limited partnership and a wholly-owned subsidiary of ENLK (the “EnLink Midstream Operating”), owns the remaining EOGP Interests with an associated Percentage Interest of 83.871%;

 

WHEREAS, ENLC desires to contribute to ENLK and ENLK desires to contribute to EnLink Midstream Operating all of the Contributed Interests;

 

WHEREAS, in order to efficiently implement the transactions described in the preceding recital, the Parties have agreed that ENLC shall, at the direction of ENLK, contribute all of the Contributed Interests directly to EnLink Midstream Operating (such contribution, the “Contribution”);

 

WHEREAS, in consideration for the Contribution, ENLK desires to issue to ENLC (the “Issuance” and, together with the Contribution, the “Transactions”) 55,827,221 ENLK Common Units (the “Consideration Units”); and

 

WHEREAS, the Parties desire to effect the Transactions on the terms and subject to the conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows:

 

 

ARTICLE I
 THE CONTRIBUTION

 

1.1          Contribution and Issuance.

 

(a)   At the Effective Time, and on the terms and subject to the conditions set forth in this Agreement, ENLC will contribute, assign, and transfer, at the direction of ENLK, to EnLink Midstream Operating, and ENLK will cause EnLink Midstream Operating to receive and accept from ENLC, the Contributed Interests, free and clear of any lien, mortgage, security interest, pledge, or other similar restriction (other than restrictions under applicable federal and state securities laws and restrictions on transfer pursuant to the EOGP Partnership Agreement), in each case, pursuant to the Assignment and Assumption Agreement in the form attached hereto as Exhibit A (the “Assignment Agreement”).

 

(b)   At the Effective Time, and on the terms and subject to the conditions set forth in this Agreement, in consideration for the Contribution, ENLK will (i) issue and deliver to ENLC the Consideration Units (in book-entry form), by instruction to ENLK’s transfer agent or otherwise, and (ii) deliver evidence of such issuance that is reasonably satisfactory to ENLC.

 

(c)   For income tax and accounting purposes, the transactions described in this Article I shall be treated as (i) a nontaxable contribution under IRC Section 721(a) of the Contributed Interests by ENLC to ENLK, followed immediately thereafter by (ii) a nontaxable contribution under IRC Section 721(a) of the Contributed Interests by ENLK to EnLink Midstream Operating.

 

ARTICLE II
 CLOSING

 

2.1          Closing.  Subject to the terms and conditions of this Agreement, and unless otherwise agreed in writing by the Parties, the closing of the Transactions shall occur at 11:59 p.m. (Dallas, Texas time) on the date hereof (the “Effective Time”).

 

 ARTICLE III
 MISCELLANEOUS

 

3.1          Complete Agreement.  This Agreement and the Assignment Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof and thereof.

 

3.2          Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, including laws of the State of Delaware relating to applicable statutes of limitation, burdens of proof, and available remedies.

 

3.3          Amendment and Modification.  This Agreement may be amended, modified, or supplemented only by written agreement of the Parties.

 

2

 

3.4          Binding Effect and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns, but neither this Agreement nor any of the rights, benefits, or obligations hereunder shall be assigned or transferred, by operation of law or otherwise, without the prior written consent of the other Party. Nothing in this Agreement, express or implied, is intended to confer upon any person or entity other than the Parties and their respective permitted successors and assigns any rights, benefits, or obligations hereunder.

 

3.5          Severability. If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any rule of applicable law or public policy, all other conditions or provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner materially adverse to any Party.  Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the Transactions are consummated as originally contemplated to the fullest extent possible.

 

3.6          Multiple Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Signatures to this Agreement transmitted by facsimile transmission, by electronic mail in “portable document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing the original signature.

 

3.7          Deliveries at Closing.  Promptly following the Effective Time, the Parties shall exchange and deliver such documents, certificates, and other instruments as may be reasonably requested by a Party to carry out the intent and purposes of this Agreement.

 

* * *

 

[Signature page follows]

 

3

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set forth above.

 

 

	
 
    	
ENLINK   MIDSTREAM, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
EnLink   Midstream Manager, LLC,
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
Michael   J. Garberding
    
	
 
    	
 
    	
President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
ENLINK   MIDSTREAM PARTNERS, LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
EnLink   Midstream GP, LLC,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric D. Batchelder
    
	
 
    	
 
    	
Eric   D. Batchelder
    
	
 
    	
 
    	
Executive   Vice President and
    
	
 
    	
 
    	
Chief   Financial Officer
    

 

[Signature Page to Contribution Agreement]

 

 

Exhibit A

 

Assignment and Assumption Agreement

 

(See attached.)

 

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment (this “Assignment”) is made and entered into effective as of 11:59 p.m. (Dallas, Texas time) on January 31, 2019 (the “Effective Time”), by and between EnLink Midstream, LLC, a Delaware limited liability company (“ENLC”), and EnLink Midstream Operating, LP, a Delaware limited partnership (“EnLink Midstream Operating”) and a wholly-owned subsidiary of EnLink Midstream Partners, LP, a Delaware limited partnership (“ENLK”).  ENLC and EnLink Midstream Operating are referred to herein collectively as the “Parties” and each individually as a “Party.”

 

Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in that certain Contribution Agreement, dated as of January 31, 2019 (the “Contribution Agreement”), by and between ENLC and ENLK.

 

W I T N E S S E T H:

 

WHEREAS, ENLC owns the Contributed Interests in EnLink Oklahoma Gas Processing, LP, a Delaware limited partnership (“EOGP”); and

 

WHEREAS, pursuant to the Contribution Agreement, ENLC has agreed to contribute, assign, and transfer the Contributed Interests to EnLink Midstream Operating, and the Parties hereby desire to effect such contribution, assignment, and transfer.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

1.                                      Assignment.  Subject to and in accordance with the terms of the Contribution Agreement, ENLC hereby CONTRIBUTES, ASSIGNS, AND TRANSFERS to EnLink Midstream Operating the Contributed Interests, free and clear of any lien, mortgage, security interest, pledge, or other similar restriction (other than restrictions under applicable federal and state securities laws and restrictions on transfer pursuant to the EOGP Partnership Agreement), and EnLink Midstream Operating hereby accepts the same.

 

2.                                      Substitution as Limited Partner.  From and after the Closing, EnLink Midstream Operating shall be substituted for ENLC as a limited partner of EOGP with respect to the Contributed Interests and shall become the sole limited partner of EOGP.  From and after the Closing, ENLC shall cease to be a limited partner of EOGP and to have or exercise any right or power as a limited partner of EOGP or with respect to the Contributed Interests.

 

3.                                      Disclaimer of Warranties.

 

(a)           ENLC IS CONVEYING THE CONTRIBUTED INTERESTS WITHOUT REPRESENTATION OR WARRANTY.

 

(b)           ENLC and EnLink Midstream Operating agree that, to the extent required by applicable Law to be effective, the disclaimers contained in Section 3(a) herein are “conspicuous” disclaimers.

 

 

4.                                      Miscellaneous.

 

(c)           Complete Agreement.  This Assignment and the Contribution Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof and thereof.

 

(d)           Governing Law.  This Assignment shall be governed by and construed in accordance with the laws of the State of Delaware, including laws of the State of Delaware relating to applicable statutes of limitation, burdens of proof, and available remedies.

 

(e)           Amendment and Modification.  This Assignment may be amended, modified, or supplemented only by written agreement of the Parties.

 

(f)            Binding Effect and Assignment. This Assignment shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns, but neither this Assignment nor any of the rights, benefits, or obligations hereunder shall be assigned or transferred, by operation of law or otherwise, without the prior written consent of the other Party. Nothing in this Assignment, express or implied, is intended to confer upon any person or entity other than the Parties and their respective permitted successors and assigns any rights, benefits, or obligations hereunder.

 

(g)           Severability. If any term or other provision of this Assignment is invalid, illegal, or incapable of being enforced by any rule of applicable law or public policy, all other conditions or provisions of this Assignment shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner materially adverse to any Party.  Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the Parties shall negotiate in good faith to modify this Assignment so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the Transactions are consummated as originally contemplated to the fullest extent possible.

 

(h)           Multiple Counterparts.  This Assignment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Signatures to this Assignment transmitted by facsimile transmission, by electronic mail in “portable document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing the original signature.

 

(i)            Deliveries at Closing.  Promptly following the Effective Time, the Parties shall exchange and deliver such documents, certificates, and other instruments as may be reasonably requested by a Party to carry out the intent and purposes of this Assignment.

 

[Signature page follows]

 

2

 

IN WITNESS WHEREOF, the Parties have executed this Assignment as of the date first set forth above.

 

 

	
 
    	
ENLINK   MIDSTREAM, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
EnLink   Midstream Manager, LLC,
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Michael   J. Garberding
    
	
 
    	
 
    	
President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
ENLINK   MIDSTREAM OPERATING, LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
EnLink   Midstream Operating GP, LLC,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Eric   D. Batchelder
    
	
 
    	
 
    	
Executive   Vice President and
    
	
 
    	
 
    	
Chief   Financial Officer
    

 

[Signature Page to Assignment and Assumption Agreement]

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