Document:

Security Agreement

 Exhibit 10.3 
 SECURITY AGREEMENT 
 SECURITY AGREEMENT (this “Agreement”), dated as of
April 13, 2006, by and among (a) Burlington Coat Factory Warehouse Corporation (the “Borrower”), (b) Burlington Coat Factory Holdings, Inc., Burlington Coat Factory Investments Holdings, Inc., and each of the Persons
listed on Schedule I hereto (each individually, a “Facility Guarantor” and, collectively, the “Facility Guarantors”) (the Borrower and the Facility Guarantors are hereinafter referred to, individually, as a
“Grantor” and, collectively, as the “Grantors”), and (c) Bear Stearns Corporate Lending Inc., as collateral agent (in such capacity, the “Collateral Agent”) for its own benefit and the benefit
of the other Secured Parties, in consideration of the mutual covenants contained herein and benefits to be derived herefrom. 
 WITNESSETH:

 WHEREAS, reference is made to that certain Credit Agreement, dated as of April 13, 2006 (as amended, modified, supplemented or
restated and in effect from time to time, the “Credit Agreement”), by and between, among others, the Grantors, as Loan Parties, the Lenders party thereto from time to time, Bear Stearns Corporate Lending Inc., as Administrative
Agent and Collateral Agent for its own benefit and the benefit of the other Secured Parties and Banc of America Securities LLC, as Syndication Agent., pursuant to which the Lenders have agreed to make Term Loans to the Borrower, upon the terms and
subject to the conditions specified in the Credit Agreement; and 
 WHEREAS, reference is also made to that certain Guaranty, dated as of
April 13, 2006 (as amended, modified, supplemented or restated and in effect from time to time, the “Guaranty”), executed by the Facility Guarantors in favor of the Administrative Agent, the Collateral Agent and the other
Secured Parties, pursuant to which each Facility Guarantor guarantees the payment of the Guaranteed Obligations (as defined in the Guaranty); and 
 WHEREAS, the obligation of the Lenders to make Term Loans is conditioned upon, among other things, the execution and delivery by the Grantors of an agreement in the form hereof to secure the Secured Obligations (as defined herein).

 NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and for good and valuable
consideration, the receipt of which is hereby acknowledged, the Grantors and the Collateral Agent, on its own behalf and on behalf of the other Secured Parties (and each of their respective successors or permitted assigns), hereby agree as follows:

  

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 ARTICLE 1 
 Definitions 
 SECTION 1.01 Generally. All references herein to the UCC shall mean the Uniform
Commercial Code as in effect from time to time in the State of New York; provided, however, that if a term is defined in Article 9 of the UCC differently than in another Article thereof, the term shall have the meaning set forth in
Article 9; provided further that, if by reason of mandatory provisions of law, perfection, or the effect of perfection or non-perfection, of the Security Interest in any Collateral or the availability of any remedy hereunder is
governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “UCC” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection
or effect of perfection or non-perfection or availability of such remedy, as the case may be. 
 SECTION 1.02 Definition of Certain Terms
Used Herein. Unless the context otherwise requires, all capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement. In addition, as used herein, the following terms shall have the following meanings:

 “Accessions” shall have the meaning given that term in the UCC. 
 “Account Debtor” shall have the meaning given that term in the UCC. 
 “Account(s)” shall mean “accounts”, as defined in the UCC, and shall also mean a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered, or (iii) arising out of the use of a credit or
charge card or information contained on or for use with the card. 
 “Blue Sky Laws” shall have the meaning assigned to such
term in SECTION 6.01 of this Agreement. 
 “Borrower” shall have the meaning assigned to such term in the preamble of this
Agreement. 
 “Chattel Paper” shall have the meaning given that term in the UCC. 
 “Collateral” shall mean all personal property of each Grantor, including, without limitation: all (a) Accounts, (b) Chattel
Paper, (c) Commercial Tort Claims, (d) Deposit Accounts, (e) Documents, (f) Equipment, (g) Fixtures, (h) General Intangibles (including Payment Intangibles), (i) Goods, (j) Instruments, (k) Inventory,
(l) Investment Property, (m) Letter-of-Credit Rights, (n) Software, (o) Supporting Obligations, (p) money, policies and certificates of insurance, deposits, cash, or other property, (q) all books, records, and
information 
  

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 relating to any of the foregoing ((a) through (p)) and/or to the operation of any Grantor’s business, and all rights
of access to such books, records, and information, and all property in which such books, records, and information are stored, recorded and maintained, (r) all insurance proceeds, refunds, and premium rebates, including, without limitation,
proceeds of fire and credit insurance, whether any of such proceeds, refunds, and premium rebates arise out of any of the foregoing ((a) through (q)) or otherwise, (s) all rights of each Grantor under the Acquisition Documents, (t) all
liens, guaranties, rights, remedies, and privileges pertaining to any of the foregoing ((a) through (s)), including the right of stoppage in transit, and (u) any of the foregoing, whether now owned or now due, or in which any Grantor has an
interest, or hereafter acquired, arising, or to become due, or in which any Grantor obtains an interest, and all products, Proceeds, substitutions, and Accessions of or to any of the foregoing; provided, however, that the Collateral
shall not include (a) any rights or property acquired under a lease, contract, property rights agreement or license, or any intent to use trademark applications filed pursuant to Section 1(b) of the Lanham Act, if and to the extent that
the grant of a security interest in which shall constitute or result in (i) the abandonment, cancellation, invalidation or unenforceability of any right, title or interest of any Grantor therein or (ii) a breach or termination pursuant to
the terms of, or a default under, any lease, contract, property rights agreement or license (other than to the extent that any restriction on such assignment would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC
(or any successor provision or provisions) of any relevant jurisdiction or any other Applicable Law or principles of equity), provided that the Proceeds from any such lease, contract, property rights agreement or license shall not be excluded from
the definition of Collateral to the extent that the assignment of such Proceeds is not prohibited, and provided further that any rights under any intent to use trademark applications filed pursuant to Section 1(b) of the Lanham Act shall be
excluded from Collateral only to the extent and until a statement of use or amendment to allege use is filed in connection with therewith and accepted by the United States Patent and Trademark Office and only if inclusion of intent to use
applications prior to such time would result in the cancellation or invalidation of the alleged trademark, (b) any governmental permit or franchise that prohibits Liens on or collateral assignments of such permit or franchise (other than to the
extent that any restriction on such assignment would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other Applicable Law or
principles of equity), or (c) any Security, Investment Property or other equity interest representing more than 65% of the outstanding voting stock of any Foreign Subsidiary. 
 “Collateral Agent” shall have the meaning assigned to such term in the preamble of this Agreement. 
 “Collateral Agent’s Rights and Remedies” shall have the meaning assigned to such term in SECTION 8.08. 
  

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 “Commercial Tort Claim” shall have the meaning given that term in the UCC and shall
include, without limitation, the Commercial Tort Claims from time to time set forth on Schedule 4.12 hereto. 
 “Control”
shall have the meaning given that term in the UCC. 
 “Credit Agreement” shall have the meaning assigned to such term in the
preliminary statement of this Agreement. 
 “Deposit Account” shall have the meaning given that term in the UCC and shall
also include all demand, time, savings, passbook, or similar accounts maintained with a bank or other financial institution. 
 “Documents” shall have the meaning given that term in the UCC. 
 “Equipment” shall mean
“equipment”, as defined in the UCC, and shall also mean all furniture, store fixtures, motor vehicles, rolling stock, machinery, office equipment, plant equipment, tools, dies, molds, and other goods, property, and assets which are used
and/or were purchased for use in the operation or furtherance of a Grantor’s business, and any and all Accessions or additions thereto, and substitutions therefor. 
 “Facility Guarantors” shall have the meaning assigned to such term in the preamble of this Agreement. 
 “Financing Statement” shall have the meaning given that term in the UCC. 
 “Fixtures” shall have the meaning given that term in the UCC. 
 “General Intangibles” shall have
the meaning given that term in the UCC, and shall also include, without limitation, all: Payment Intangibles; rights to payment for credit extended; deposits; amounts due to any Grantor; credit memoranda in favor of any Grantor; warranty claims; tax
refunds and abatements; insurance refunds and premium rebates; all means and vehicles of investment or hedging, including, without limitation, options, warrants, and futures contracts; records; customer lists; telephone numbers; goodwill; causes of
action; judgments; rights to collect payments under any settlement or other agreement; literary rights; rights to performance; royalties; license and/or franchise fees; rights of admission; licenses; franchises; license agreements, including all
rights of any Grantor to enforce same; permits, certificates of convenience and necessity, and similar rights granted by any governmental authority; developmental ideas and concepts; proprietary processes; blueprints, drawings, designs, diagrams,
plans, reports, and charts; catalogs; technical data; computer records, rights of access to computer record service bureaus, and service bureau computer contracts; tapes, disks, semi-conductors chips and printouts; user technical reference, and
other manuals and materials; IP Collateral (as defined in the Intellectual Property Security Agreement); proposals; cost estimates, and reproductions on paper, or otherwise, of any and all concepts or ideas, and any 
  

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 matter related to, or connected with, the design, development, manufacture, sale, marketing, leasing, or use of any or
all property produced, sold, or leased, by or credit extended or services performed, by any Grantor, whether intended for an individual customer or the general business of any Grantor, or used or useful in connection with research by any Grantor.

 “Goods” shall have the meaning given that term in the UCC. 
 “Grantors” shall have the meaning assigned to such term in the preamble of this Agreement. 
 “Guaranty” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Indemnitee” shall have the meaning assigned to such term in SECTION 8.06 of this Agreement. 
 “Instruments” shall have the meaning given that term in the UCC. 
 “Inventory” shall have the meaning given that term in the UCC, and shall also include, without limitation, all: (a) Goods which
(i) are leased by a Person as lessor, (ii) are held by a Person for sale or lease or to be furnished under a contract of service, (iii) are furnished by a Person under a contract of service, or (iv) consist of raw materials, work
in process, or materials used or consumed in a business; (b) Goods of said description in transit; (c) Goods of said description which are returned, repossessed or rejected; and (d) packaging, advertising, and shipping materials
related to any of the foregoing. 
 “Investment Property” shall have the meaning given that term in the UCC. 
 “Lenders” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
 “Letter-of-Credit Right” shall have the meaning given that term in the UCC and shall also mean any right to payment or performance under
a letter of credit, whether or not the beneficiary has demanded, or is at the time entitled to demand, payment or performance. 
 “Payment Intangible” shall have the meaning given that term in the UCC and shall also mean any General Intangible under which the Account Debtor’s primary obligation is a monetary obligation. 
 “Proceeds” shall mean “proceeds”, as defined in the UCC, and shall also include each type of property described in the
definition of Collateral. 
 “Secured Obligations” shall mean, collectively, the Obligations (as defined in the Credit
Agreement) and the Guaranteed Obligations (as defined in the Guaranty); provided, however, 
  

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 that Obligations which constitute Other Liabilities shall be Secured Obligations solely to the extent that there is
sufficient Collateral following satisfaction of the Obligations described in clause (a) of the definition of Obligations. 
 “Secured Parties” shall mean (a) each Credit Party, (b) any Lender or any Affiliate of a Lender providing Cash Management Services or entering into or furnishing any Hedge Agreements to or with any Grantor,
(c) the beneficiaries of each indemnification obligation undertaken by any Grantor under any Loan Document, and (d) the successors and, subject to any limitations contained in this Agreement, assigns of each of the foregoing. 

“Securities Act” shall have the meaning assigned to such term in SECTION 6.01 of this Agreement. 
 “Security” shall have the meaning given that term in the UCC. 
 “Security Interest” shall have the meaning assigned to such term in SECTION 2.01 of this Agreement. 
 “Software” shall have the meaning given that term in the UCC. 
 “Supporting Obligation” shall have the meaning given that term in the UCC and shall also refer to a Letter-of-Credit Right or secondary
obligation that supports the payment or performance of an Account, Chattel Paper, a Document, a General Intangible, an Instrument, or Investment Property. 
 SECTION 1.03 Rules of Interpretation. The rules of interpretation specified in Sections 1.02 through 1.07 of the Credit Agreement shall be applicable to this Agreement. 
 ARTICLE 2 
 Security Interest

 SECTION 2.01 Security Interest. As security for the payment or performance, as the case may be, in full of their respective
Secured Obligations, each Grantor hereby grants to the Collateral Agent, its successors and permitted assigns, for its own benefit and the benefit of the other Secured Parties, a security interest in, and collaterally assigns to the Collateral
Agent, its successors and permitted assigns, for its own benefit and the benefit of the other Secured Parties, all of such Grantor’s right, title and interest in, to and under the Collateral (the “Security Interest”). Without
limiting the foregoing, each Grantor hereby designates the Collateral Agent as such Grantor’s true and lawful attorney, exercisable by the Collateral Agent whether or not an Event of Default exists, with full power of substitution, at the
Collateral Agent’s option, to file one or more Financing Statements, continuation statements, or to sign other documents for the purpose of perfecting, confirming, continuing, or protecting the Security Interest granted by each Grantor, without
the signature of any Grantor (each Grantor hereby appointing the Collateral 
  

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 Agent as such Person’s attorney to sign such Person’s name to any such instrument or document, whether or not
an Event of Default exists), and naming any Grantor or the Grantors, as debtors, and the Collateral Agent, as secured party. Any such financing statement may indicate the Collateral as “all assets of the Grantor”, “all personal
property of the debtor” or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC. 
 SECTION 2.02 No Assumption of Liability. The Security Interest is granted as security only and shall not subject the Collateral Agent or any other
Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 
 ARTICLE 3 
 Representations and Warranties 
 The Grantors jointly and severally represent and warrant to the Collateral Agent and the other Secured Parties that: 
 SECTION 3.01 Title and Authority. Each Grantor has good and valid rights in, and title to, the Collateral with respect to which it has purported to
grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent the Security Interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this
Agreement, without the consent or approval of any other Person, other than any consent or approval which has been obtained. 
 SECTION 3.02
Filings. UCC Financing Statements or other appropriate filings, recordings or registrations containing a description of the Collateral have been or will be timely filed in each governmental, municipal or other office as is necessary to
publish notice of and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for its own benefit and the benefit of the other Secured Parties) in respect of all Collateral in which
the Security Interest may be perfected by filing, recording or registration in the United States or Canada (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording,
rerecording, registration or re-registration is necessary in any such jurisdiction, except as provided under Applicable Law with respect to the filing of continuation statements or as a result of any change in a Grantor’s name or jurisdiction
of incorporation or formation or under any other circumstances under which, pursuant to the UCC, filings previously made have become misleading or ineffective in whole or in part. 
 SECTION 3.03 Validity and Priority of Security Interest. The Security Interest constitutes (a) a legal and valid security interest in all of
the Collateral securing the payment and performance of the Secured Obligations, and (b) subject to the making of the filings described in SECTION 3.02 above within the time periods prescribed by Applicable Law, a perfected 
  

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 security interest in all of the Collateral (to the extent perfection in the Collateral can be accomplished by such
filing) and (c) subject to the obtaining of Control, a perfected security interest in all of the Collateral (to the extent perfection in the Collateral can be accomplished by Control and perfection of the Security Interest in such Collateral is
required by the terms hereof or of the Credit Agreement). The Security Interest is and shall be prior to any other Lien on any of the Collateral, subject only to (i) with respect to the ABL Priority Collateral only, Permitted Encumbrances under
the ABL Financing Facility, and (ii) other Permitted Encumbrances having priority by operation of Applicable Law. 
 SECTION 3.04
Absence of Other Liens. The Collateral is owned by the Grantors free and clear of any Lien, except for (i) Permitted Encumbrances or (ii) Liens for which termination statements have been delivered to the Collateral Agent. The
Grantors have not (a) filed or consented to the filing of (i) any Financing Statement or analogous document under the UCC or any other Applicable Law covering any Collateral, (ii) any assignment in which any Grantor assigns any
Collateral or any security agreement or similar instrument covering any Collateral with the United States Patent and Trademark Office or the United States Copyright Office or (iii) any assignment in which any Grantor assigns any Collateral or
any security agreement or similar instrument covering any Collateral with any foreign governmental, municipal or other office, or (b) entered into any agreement in which any Grantor grants Control over any Collateral, which Financing Statement,
control agreement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Permitted Encumbrances. 
 SECTION 3.05 Bailees, Warehousemen, Etc. As of the Closing Date, except as set forth on Schedule 3.06 hereto, no Inventory of any Grantor is in the care or custody of any third party or stored or
entrusted with a bailee or other third party and no Inventory with an aggregate value in excess of $3,000,000 shall hereafter be placed under such care, custody, storage or entrustment unless a Collateral Access Agreement is delivered to the
Collateral Agent by such third party or bailee. 
 SECTION 3.06 Consignments. As of the Closing Date, except as set forth on
Schedule 3.07 hereto, no Grantor has, and none shall have, possession of any property on consignment from any consignor having a value greater than $15,000,000 unless a lien waiver or other agreement in favor of the Collateral Agent
reasonably satisfactory to the Collateral Agent is delivered to the Collateral Agent by such consignor. 
  

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 ARTICLE 4 
 Covenants 
 SECTION 4.01 Change of Name; Location of Collateral; Records; Place of Business.

 (a) Each Grantor will furnish to the Collateral Agent prompt written notice of any change in: (i) any Grantor’s
name; (ii) the location of any Grantor’s chief executive office or its principal place of business; (iii) any Grantor’s organizational structure or jurisdiction of incorporation or formation; or (iv) any Grantor’s
Federal Taxpayer Identification Number or organizational identification number, if any, assigned to it by its jurisdiction of organization. Each Grantor agrees not to effect or permit any change referred to in the preceding sentence unless all
filings, publications and registrations have been made under the UCC or other Applicable Law that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority
security interest in all the Collateral (subject only to (i) with respect to the ABL Priority Collateral only, Permitted Encumbrances under the ABL Financing Facility, and (ii) other Permitted Encumbrances having priority by operation of
Applicable Law) for its own benefit and the benefit of the other Secured Parties. 
 (b) Each Grantor agrees (i) to
maintain, at its own cost and expense, records with respect to the Collateral owned by it which are complete and accurate in all material respects and which are consistent with its current practices or in accordance with such prudent and standard
practices used in industries that are the same as, or similar to, those in which such Grantor is engaged, but in any event to include accounting records which are complete in all material respects indicating all payments and proceeds received with
respect to any part of the Collateral, and (ii) at such time or times as the Collateral Agent may reasonably request, promptly to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail reasonably
satisfactory to the Collateral Agent showing the identity, amount and location of any and all Collateral. 
 SECTION 4.02 Protection of
Security. Each Grantor shall, at its own cost and expense, take any and all actions reasonably necessary to defend title to the Collateral against all Persons and to defend the Security Interest of the Collateral Agent in the Collateral and the
priority thereof against any Lien (other than Permitted Encumbrances). 
 SECTION 4.03 Further Assurances. Each Grantor agrees, at its
own expense, to execute, acknowledge, deliver and cause to be duly filed all such further documents, Financing Statements, agreements and instruments and take all such further actions as the Collateral Agent may from time to time reasonably request
to better assure, preserve, protect and perfect the Security Interest and the rights and remedies created hereby or the validity or priority of such Security Interest, including the payment of any fees and taxes required in connection with the
execution and delivery of this Agreement, the granting of the Security Interest and the filing of any Financing Statements or other documents in connection herewith or therewith. Without limiting the foregoing, each Grantor agrees, at its own
expense, to execute, acknowledge, deliver and cause to be duly filed all such further documents, Financing Statements, agreements and instruments and take all such further actions as the Collateral Agent may from time to time reasonably request to
perfect the Collateral Agent’s Security Interest in all Accounts, Inventory, Deposit Accounts, Investment Property, and the proceeds therefrom (including causing the 
  

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 Collateral Agent to have Control of any such Collateral to the extent required under the Credit Agreement and to the
extent perfection in such Collateral can be accomplished by Control). If any amount payable under or in connection with any of the Collateral shall be or become evidenced by any promissory note or other instrument with an individual face value in
excess of $1,000,000 (or with respect to all such promissory notes or other Instruments, an aggregate face value in excess of $5,000,000), such note or Instrument shall be promptly pledged and delivered to the Collateral Agent, duly endorsed in a
manner reasonably satisfactory to the Collateral Agent. 
 SECTION 4.04 Taxes; Encumbrances. At its option, the Collateral Agent may
discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the Collateral (other than Permitted Encumbrances), and may take any other action which the Collateral Agent may
reasonably deem necessary or desirable to repair, maintain or preserve any of the Collateral to the extent any Grantor fails to do so as required by the Credit Agreement or this Agreement, and each Grantor jointly and severally agrees to reimburse
the Collateral Agent for any payment made or any expense incurred by the Collateral Agent pursuant to the foregoing authorization within thirty (30) days after receipt of an invoice therefor setting forth such expenses in reasonable detail;
provided, however, that the Collateral Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial
proceeding (in which the Collateral Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Collateral Agent had acted in actual bad faith or in a grossly negligent manner; provided
further that the making of any such payments or the taking of any such action by the Collateral Agent shall not be deemed to constitute a waiver of any Default or Event of Default arising from the Grantor’s failure to have made such
payments or taken such action. Nothing in this SECTION 4.04 shall be interpreted as excusing any Grantor from the performance of any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security
interests or other encumbrances and maintenance as set forth herein or in the other Loan Documents. 
 SECTION 4.05 Assignment of Security
Interest. 
 (a) If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other Person to
secure payment and performance of an Account, such Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment need not be filed of public record unless necessary to continue the perfected status of the security
interest against creditors of, and transferees from, the Account Debtor or other Person granting the security interest. 
 (b) To the extent
that any Grantor is a beneficiary under any written letter of credit now or hereafter issued in favor of such Grantor having a face value in an amount in excess of $1,000,000 (or with respect to all such letters of credit, having an aggregate face
value in an amount in excess of $5,000,000), such Grantor shall deliver such letter of credit to the 
  

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 Collateral Agent. The Collateral Agent shall from time to time, at the request and expense of such Grantor, promptly make
such arrangements with such Grantor as are in the Collateral Agent’s reasonable judgment necessary so that such Grantor may make any drawing to which such Grantor is entitled under such letter of credit, without impairment of the Collateral
Agent’s perfected security interest in such Grantor’s rights to proceeds of such letter of credit or in the actual proceeds of such drawing. At the Collateral Agent’s request, such Grantor shall, for any letter of credit now or
hereafter issued in favor of such Grantor as beneficiary, execute and deliver to the issuer and any confirmer of such letter of credit an assignment of proceeds form, in favor of the Collateral Agent and reasonably satisfactory to the Collateral
Agent and such issuer or (as the case may be) such confirmer, requiring the proceeds of any drawing under such letter of credit to be paid directly to the Collateral Agent after the occurrence and during the continuance of any Event of Default.

 SECTION 4.06 Continuing Obligations of the Grantors. Each Grantor shall remain liable to observe and perform in all material
respects all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Collateral, all in accordance with the terms and conditions thereof, and each Grantor jointly and severally
agrees to indemnify and hold harmless the Collateral Agent and the Secured Parties from and against any and all liability for such performance. 
 SECTION 4.07 Use and Disposition of Collateral. None of the Grantors shall make or permit to be made any collateral assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral or
shall grant Control (for purposes of security) of any Collateral to any Person, except for Permitted Encumbrances and Permitted Dispositions. Except for Permitted Dispositions expressly permitted in the Credit Agreement, none of the Grantors shall
make or permit to be made any transfer of the Collateral, and, except as expressly permitted in the ABL Agreement with respect to Eligible In-Transit Inventory and Eligible Letter of Credit Inventory (each as defined in the ABL Agreement), each
Grantor shall remain at all times in possession of the Collateral owned by it. 
 SECTION 4.08 Limitation on Modification of Accounts.
None of the Grantors will, without the Collateral Agent’s prior written consent, grant any extension of the time of payment of any of the Accounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly
or partly, any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, releases, credits, discounts, compromises or settlements (a) granted or made in the ordinary course of business or
consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged or (b) constituting a Permitted Disposition as
described in clause (f) of the definition thereof. 
  

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 SECTION 4.09 Insurance. 
 (a) Each Grantor shall (i) maintain such insurance as is required pursuant to Section 5.07 of the Credit Agreement;
(ii) maintain such other insurance, as may be required by Applicable Law; and (iii) furnish to the Collateral Agent, upon written request, full information as to the insurance carried. 
 (b) Each Grantor hereby irrevocably makes, constitutes and appoints the Collateral Agent (and all officers, employees or agents designated
by the Collateral Agent) as such Grantor’s true and lawful agent (and attorney-in-fact), exercisable only after the occurrence and during the continuance of a Specified Default, for the purpose of making, settling and adjusting claims in
respect of Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with
respect thereto. In the event that any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance required hereby or to pay any premium in whole or part relating thereto, the Collateral Agent may, without waiving
or releasing any obligation or liability of the Grantors hereunder or any Default or Event of Default, in its sole discretion, obtain and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the
Collateral Agent reasonably deems advisable. All sums disbursed by the Collateral Agent in connection with this SECTION 4.089, including reasonable attorneys’ fees, court costs, out-of-pocket expenses and other charges relating thereto, shall
be payable, upon demand, by the Grantors to the Collateral Agent and shall be additional Secured Obligations secured hereby. 
 SECTION 4.10
Commercial Tort Claims. As of the date hereof, except as set forth on Schedule 4.12, none of the Collateral consists of a Commercial Tort Claim. If any Grantor shall at any time acquire a Commercial Tort Claim having a value in excess of
$1,000,000 (or with respect to all such Commercial Tort Claims, having an aggregate value in excess of $5,000,000), such Grantor shall promptly notify the Collateral Agent in writing of the details thereof and shall update Schedule 4.12 to reflect
such Commercial Tort Claim and the Grantors shall take such actions as the Collateral Agent shall reasonably request in order to grant to the Collateral Agent, for the ratable benefit of the Secured Parties, a perfected security interest therein and
in the Proceeds thereof. 
 SECTION 4.11 Legend. At the request of the Collateral Agent, each Grantor shall legend, in form and manner
reasonably satisfactory to the Collateral Agent, its Accounts and its books, records and documents evidencing or pertaining thereto with an appropriate reference to the fact that such Accounts have been assigned to the Collateral Agent, for the
benefit of the Secured Parties, and that the Collateral Agent has a security interest therein. 
  

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 ARTICLE 5 
 Collections 
 SECTION 5.01 [reserved] 
 SECTION 5.02 [reserved] 
 SECTION 5.03
[reserved] 
 ARTICLE 6 
 Remedies 
 SECTION 6.01 Remedies upon Default. After the occurrence and during the continuance
of an Event of Default, it is agreed that the Collateral Agent shall have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and remedies, the rights and remedies of a secured party under the UCC or other
Applicable Law. The rights and remedies of the Collateral Agent after the occurrence and during the continuation of an Event of Default shall include, without limitation, the right to take any or all of the following actions at the same or different
times: 
 (a) With respect to any Collateral consisting of Accounts, General Intangibles (including Payment Intangibles),
Letter-of-Credit Rights, Instruments, Chattel Paper, Documents, and Investment Property, the Collateral Agent may collect the Collateral with or without the taking of possession of any of the Collateral. 
 (b) With respect to any Collateral consisting of Accounts, the Collateral Agent may: (i) demand, collect and receive any amounts
relating thereto, as the Collateral Agent may determine; (ii) commence and prosecute any actions in any court for the purposes of collecting any such Accounts and enforcing any other rights in respect thereof; (iii) defend, settle or
compromise any action brought and, in connection therewith, give such discharges or releases as the Collateral Agent may reasonably deem appropriate; (iv) receive, open and dispose of mail addressed to any Grantor and endorse checks, notes,
drafts, acceptances, money orders, bills of lading, warehouse receipts or other instruments or documents evidencing payment, shipment or storage of the goods giving rise to such Accounts or securing or relating to such Accounts, on behalf of and in
the name of such Grantor; and (v) sell, assign, transfer, make any agreement in respect of, or otherwise deal with or exercise rights in respect of, any such Accounts or the goods or services which have given rise thereto, as fully and
completely as though the Collateral Agent was the absolute owner thereof for all purposes. 
 (c) With respect to any
Collateral consisting of Investment Property, the Collateral Agent may: (i) exercise all rights of any Grantor with respect thereto, including 
  

 -13- 

 without limitation, the right to exercise all voting and corporate rights at any meeting of the
shareholders of the Issuer of any Investment Property and to exercise any and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to any Investment Property as if the Collateral Agent was the
absolute owner thereof, including the right to exchange, at its discretion, any and all of any Investment Property upon the merger, consolidation, reorganization, recapitalization or other readjustment of the Issuer thereof, all without liability;
(ii) transfer such Collateral at any time to itself, or to its nominee, and receive the income thereon and hold the same as Collateral hereunder or apply it to the Secured Obligations; and (iii) demand, sue for, collect or make any
compromise or settlement it deems desirable. The Grantors recognize that (a) the Collateral Agent may be unable to effect a public sale of all or a part of the Investment Property by reason of certain prohibitions contained in the Securities
Act of 1933, 15 U.S.C. §77, (as amended and in effect, the “Securities Act”) or the Securities laws of various states (the “Blue Sky Laws”), but may be compelled to resort to one or more private sales to a
restricted group of purchasers who will be obliged to agree, among other things, to acquire the Investment Property for their own account, for investment and not with a view to the distribution or resale thereof, (b) that private sales so made
may be at prices and upon other terms less favorable to the seller than if the Investment Property were sold at public sales, (c) that neither the Collateral Agent nor any other Secured Party has any obligation to delay sale of any of the
Investment Property for the period of time necessary to permit the Investment Property to be registered for public sale under the Securities Act or the Blue Sky Laws, and (d) that private sales made under the foregoing circumstances shall be
deemed to have been made in a commercially reasonable manner. Notwithstanding anything herein to the contrary, no Grantor shall be required to register, or cause the registration of, any Investment Property under the Securities Act or any Blue Sky
Laws. 
 (d) With respect to any Collateral consisting of Inventory, Goods, and Equipment, the Collateral Agent may conduct
one or more going out of business sales, in the Collateral Agent’s own right or by one or more agents and contractors. Such sale(s) may be conducted upon any premises owned, leased, or occupied by any Grantor. The Collateral Agent and any such
agent or contractor, in conjunction with any such sale, may augment the Inventory with other goods (all of which other goods shall remain the sole property of the Collateral Agent or such agent or contractor). Any amounts realized from the sale of
such goods which constitute augmentations to the Inventory (net of an allocable share of the costs and expenses incurred in their disposition) shall be the sole property of the Collateral Agent or such agent or contractor and neither any Grantor nor
any Person claiming under or in right of any Grantor shall have any interest therein. Each purchaser at any such going out of business sale shall hold the property sold absolutely, free from any claim or right on the part of any Grantor. 

(e) With or without legal process and with or without prior notice or demand for performance, the Collateral Agent may enter upon,
occupy, and use any premises 
  

 -14- 

 owned or occupied by each Grantor, and may exclude the Grantors from such premises or portion thereof as
may have been so entered upon, occupied, or used by the Collateral Agent to the extent the Collateral Agent deems such exclusion reasonably necessary to preserve and protect the Collateral. The Collateral Agent shall not be required to remove any of
the Collateral from any such premises upon the Collateral Agent’s taking possession thereof, and may render any Collateral unusable to the Grantors. In no event shall the Collateral Agent be liable to any Grantor for use or occupancy by the
Collateral Agent of any premises pursuant to this SECTION 6.01, nor for any charge (such as wages for the Grantors’ employees and utilities) incurred in connection with the Collateral Agent’s exercise of the Collateral Agent’s Rights
and Remedies (as defined herein) hereunder. 
 (f) The Collateral Agent may require any Grantor to assemble the Collateral and
make it available to the Collateral Agent at the Grantor’s sole risk and expense at a place or places which are reasonably convenient to both the Collateral Agent and such Grantor. 
 (g) Each Grantor agrees that the Collateral Agent shall have the right, subject to Applicable Law, to sell or otherwise dispose of all or
any part of the Collateral, at public or private sale, for cash, upon credit or for future delivery as the Collateral Agent shall deem appropriate. Each purchaser at any such sale shall hold the property sold absolutely, free from any claim or right
on the part of any Grantor. 
 (h) Unless the Collateral is perishable or threatens to decline speedily in value, or is of a
type customarily sold on a recognized market (in which event the Collateral Agent shall provide the Grantors such notice as may be practicable under the circumstances), the Collateral Agent shall give the Grantors at least ten (10) days’
prior written notice, by authenticated record, of the date, time and place of any proposed public sale, and of the date after which any private sale or other disposition of the Collateral may be made. Each Grantor agrees that such written notice
shall satisfy all requirements for notice to that Grantor which are imposed under the UCC or other Applicable Law with respect to the exercise of the Collateral Agent’s Rights and Remedies upon default. The Collateral Agent shall not be
obligated to make any sale or other disposition of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale or other disposition of such Collateral shall have been given. The Collateral Agent may, without notice
or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same
was so adjourned. 
 (i) Any public sale shall be held at such time or times within ordinary business hours and at such place
or places as the Collateral Agent may fix and state in the notice of such sale. At any sale or other disposition, the Collateral, or portion thereof, to 
  

 -15- 

 be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its
sole and absolute discretion) determine. If any of the Collateral is sold, leased, or otherwise disposed of by the Collateral Agent on credit, the Secured Obligations shall not be deemed to have been reduced as a result thereof unless and until
payment in full is received thereon by the Collateral Agent. 
 (j) At any public (or, to the extent permitted by Applicable
Law, private) sale made pursuant to this SECTION 6.01, the Collateral Agent or any other Secured Party may bid for or purchase, free (to the extent permitted by Applicable Law) from any right of redemption, stay, valuation or appraisal on the part
of any Grantor, the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to the Collateral Agent or such other Secured Party from any Grantor on account of the Secured
Obligations as a credit against the purchase price, and the Collateral Agent or such other Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor.

 (k) For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale
thereof. The Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral
Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations paid in full. 
 (l) As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to foreclose upon the Collateral and to sell the Collateral or
any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. 
 (m) To the extent permitted by Applicable Law, each Grantor hereby waives all rights of redemption, stay, valuation and appraisal which
such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
 SECTION
6.02 Application of Proceeds. After the occurrence and during the continuance of an Event of Default and acceleration of the Secured Obligations pursuant to the terms hereof and of the Credit Agreement, the Collateral Agent shall apply the
proceeds of any collection or sale of the Collateral, as well as any Collateral consisting of cash, or any Collateral granted under any other of the Security Documents, in accordance with Section 7.03 of the Credit Agreement. 
  

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 The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds,
moneys or balances in accordance with this Agreement. Upon any sale or other disposition of the Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase
money by the Collateral Agent or of the officer making the sale or other disposition shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold or otherwise disposed of and such purchaser or purchasers shall not be
obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 
 ARTICLE 7 
 Perfection of Security Interest 
 SECTION 7.01 Perfection by Filing. This Agreement constitutes an authenticated record, and each Grantor hereby authorizes the Collateral Agent,
pursuant to the provisions of SECTION 2.01, to file one or more financing or continuation statements, and amendments thereto, relative to all or any part of the Collateral, in such filing offices as the Collateral Agent shall reasonably deem
necessary, and the Grantors shall pay the Collateral Agent’s reasonable costs and out-of-pocket expenses incurred in connection therewith. Each Grantor hereby further agrees that a carbon, photographic, or other reproduction of this Agreement
shall be sufficient as a Financing Statement and may be filed as a Financing Statement in any and all jurisdictions. 
 SECTION 7.02 Other
Perfection, Etc. The Grantors shall at any time and from time to time take such steps as the Collateral Agent may reasonably request for the Collateral Agent (a) to obtain a Collateral Access Agreement of any bailee having possession of any
of the Collateral that the bailee holds such Collateral for the Collateral Agent, (b) to obtain Control of any Investment Property, Deposit Accounts (to the extent required by Section 2.18 of the ABL Agreement), Letter-of-Credit Rights or
electronic Chattel Paper (as such terms are defined in the UCC), with any agreements establishing control to be in form and substance reasonably satisfactory to the Collateral Agent, and (c) otherwise to insure the continued perfection of the
Collateral Agent’s security interest in any of the Collateral with the priority described in SECTION 3.03 and of the preservation of its rights therein. 
 SECTION 7.03 Savings Clause. Nothing contained in this ARTICLE 7 shall be construed to narrow the scope of the Collateral Agent’s Security Interest in any of the Collateral or the perfection or priority
thereof or to impair or otherwise limit any of the Collateral Agent’s Rights and Remedies hereunder except (and then only to the extent) as mandated by the UCC. 
  

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 ARTICLE 8 
 Miscellaneous 
 SECTION 8.01 Notices. All communications and notices hereunder shall (except
as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. 
 SECTION 8.02
Grant of Non-Exclusive License. Without limiting the provision of SECTION 6.01 hereof or any other rights of the Collateral Agent as the holder of a Lien on any IP Collateral (as defined in the Intellectual Property Security Agreement), each
Grantor hereby grants to the Collateral Agent a royalty free, non-exclusive, irrevocable license, to use, apply, and affix any trademark, trade name, logo, or similar indicia of source or origin in which any Grantor now or hereafter has rights, such
license to be effective upon the Collateral Agent’s exercise of the Collateral Agent’s Rights and Remedies hereunder including, without limitation, in connection with any completion of the manufacture of Inventory or any sale or other
disposition of Inventory. 
 SECTION 8.03 Security Interest Absolute. All rights of the Collateral Agent hereunder, the Security
Interest and all obligations of the Grantors hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any agreement with respect to any of the
Secured Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or
waiver of or any consent to any departure from the Credit Agreement, any other Loan Document, or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or
waiver of or consent under or departure from the Guaranty or any other guarantee, securing or guaranteeing all or any of the Secured Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a
discharge of, any Grantor in respect of the Secured Obligations or this Agreement (other than circumstances under which the principal of and interest on each Term Loan and all fees and other Obligations (other than contingent indemnification
obligations as to which no claims have been asserted) shall have been paid in full). 
 SECTION 8.04 Survival of Agreement. All
covenants, agreements, representations and warranties made by the Grantors herein and in any other Loan Document and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall
be considered to have been relied upon by the Collateral Agent and the other Secured Parties and shall survive the execution and delivery of this Agreement and the other Loan Documents and the making of any Term Loans and the issuance of any Letters
of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Collateral Agent, the Issuing Banks or any Lender may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect unless terminated in accordance with SECTION 8.14 hereof. 
  

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 SECTION 8.05 Binding Effect; Several Agreement; Assignments. Whenever in this Agreement any of the
parties hereto is referred to, such reference shall be deemed to include the successors and permitted assigns of such party, and all covenants, promises and agreements by or on behalf of the Grantors that are contained in this Agreement shall bind
and inure to the benefit of each Grantor and its respective successors and permitted assigns. This Agreement shall be binding upon each Grantor and the Collateral Agent and their respective successors and permitted assigns, and shall inure to the
benefit of each Grantor, the Collateral Agent and the other Secured Parties and their respective successors and permitted assigns, except that no Grantor shall have the right to assign or transfer its rights or obligations hereunder or any interest
herein or in the Collateral (and any such attempted assignment or transfer shall be void) except as expressly permitted by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Grantor
and may be amended, modified, supplemented, waived or released with respect to any Grantor without the approval of any other Grantor and without affecting the obligations of any other Grantor hereunder. 
 SECTION 8.06 Collateral Agent’s Fees and Expenses; Indemnification. 
 (a) Without limiting or duplicating any of their obligations under the Credit Agreement, the Guaranty or the other Loan Documents, the
Grantors jointly and severally agree to pay, within thirty (30) days after receipt of an invoice therefor setting forth such expenses in reasonable detail, all Credit Party Expenses incurred by the Collateral Agent in connection with
(i) the administration of this Agreement, (ii) the custody or preservation of, or the sale of, collection from or other realization upon any of the Collateral, (iii) the exercise, enforcement or protection of any of the Collateral
Agent’s Rights and Remedies hereunder or (iv) the failure of any Grantor to perform or observe any of the provisions hereof; provided that in the event the Grantors have a bona fide dispute with any such expenses, payment of
such disputed amounts shall not be required until the earlier of the date such dispute is resolved to the reasonable satisfaction of the Grantors or thirty (30) days after receipt of any such invoice (and any such disputed amount which is so
paid shall be subject to a reservation of the Grantors’ rights with respect thereto). 
 (b) Without limiting or
duplicating any of their indemnification obligations under the Credit Agreement, the Guaranty or the other Loan Documents, the Grantors shall jointly and severally indemnify the Secured Parties and each of their Subsidiaries and Affiliates, and each
of their respective stockholders, directors, officers, employees, agents, attorneys, and advisors of any of the foregoing Persons (each such Person being called an “Indemnitee”), against, and hold each Indemnitee harmless from, any
and all damages, actual out-of-pocket losses, claims, actions, causes of action, settlement payments, obligations, liabilities and related expenses, including the reasonable fees, charges and disbursements of one counsel for the Agents and one
counsel for all other Indemnitees (other than the Agents), incurred, suffered, sustained or required to be paid by, or asserted against, any Indemnitee arising out of, in any way connected with, or as a 
  

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 result of, (i) the execution or delivery of this Agreement, the Credit Agreement or any other Loan
Document or any other agreement or instrument contemplated hereby, the performance by the Grantors of their respective obligations thereunder, or the consummation of the transactions contemplated by the Credit Agreement and the other Loan Documents
or any other transactions contemplated hereby or thereby, or (ii) any actual or prospective claim, litigation, investigation or proceeding relating to or arising from any of the foregoing or the Collateral, whether based on contract, tort or
any other theory and regardless of whether any Indemnitee is a party thereto; provided, however, that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses are determined by a court of competent jurisdiction or another independent tribunal having jurisdiction to have resulted from (w) the gross negligence, bad faith or willful misconduct of such Indemnitee or any Affiliate of such
Indemnitee (or of any officer, director, employee, advisor or agent of such Indemnitee or any such Indemnitee’s Affiliates), (x) are relating to disputes among Indemnitees, (y) are determined by a court of competent jurisdiction or
another independent tribunal having jurisdiction to have resulted from a breach by such Indemnitee of its obligations to a Grantor, or (z) constitute indirect, consequential, special or punitive damages. In connection with any indemnified claim
hereunder, the Indemnitee shall be entitled to select its own counsel and the Grantors shall promptly pay the reasonable fees and expenses of such counsel. 
 (c) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Security Documents. All amounts due under this SECTION 8.06 shall be payable within thirty
(30) days of written demand therefor, which written demand shall set forth such amounts in reasonable detail. 
 SECTION 8.07
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 SECTION
8.08 Waivers; Amendment. 
 (a) The rights, remedies, powers, privileges, and discretions of the Collateral Agent
hereunder (herein, the “Collateral Agent’s Rights and Remedies”) shall be cumulative and not exclusive of any rights or remedies which it would otherwise have. No delay or omission by the Collateral Agent in exercising or
enforcing any of the Collateral Agent’s Rights and Remedies shall operate as, or constitute, a waiver thereof. No waiver by the Collateral Agent of any Event of Default or of any Default under any other agreement shall operate as a waiver of
any other Event of Default or other Default hereunder or under any other agreement. No single or partial exercise of any of the Collateral Agent’s Rights or Remedies, and no express or implied agreement or transaction of whatever nature entered
into between the Collateral Agent and any Person, at any time, shall preclude the other or further exercise of the Collateral Agent’s Rights 
  

 -20- 

 and Remedies. No waiver by the Collateral Agent of any of the Collateral Agent’s Rights and Remedies
on any one occasion shall be deemed a waiver on any subsequent occasion, nor shall it be deemed a continuing waiver. The Collateral Agent’s Rights and Remedies may be exercised at such time or times and in such order of preference as the
Collateral Agent may determine. The Collateral Agent’s Rights and Remedies may be exercised without resort or regard to any other source of satisfaction of the Secured Obligations. No waiver of any provisions of this Agreement or any other Loan
Document or consent to any departure by any Grantor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific instance and for
the purpose for which given. No notice to or demand on any Grantor in any case shall entitle such Grantor or any other Grantor to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to a written agreement entered into
between the Collateral Agent and the Grantor or Grantors with respect to whom such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 9.02 of the Credit Agreement. 
 SECTION 8.09 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) AND WAIVES DUE
DILIGENCE, DEMAND, PRESENTMENT AND PROTEST AND ANY NOTICES THEREOF AS WELL AS NOTICE OF NONPAYMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 8.09. 
 SECTION 8.10 Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION
8.11 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an 
  

 -21- 

 original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of
a signature page of this Agreement by telecopy or e-mail shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 8.12 Headings. Article and Section headings used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this
Agreement. 
 SECTION 8.13 Jurisdiction; Consent to Service of Process. 
 (a) Each of the Grantors agrees that any suit for the enforcement of this Agreement or any other Loan Document may be brought in the
courts of the State of New York sitting in the Borough of Manhattan or any federal court sitting therein, as the Collateral Agent may elect in its sole discretion, and consents to the non-exclusive jurisdiction of such courts. Each party to this
Agreement hereby waives any objection which it may now or hereafter have to the venue of any such suit or any such court or that such suit is brought in an inconvenient forum and agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Collateral Agent or any other Secured Party may otherwise have to bring
any action or proceeding relating to this Agreement against a Grantor or its properties in the courts of any jurisdiction. 
 (b) Each of the Grantors agrees that any action commenced by any Grantor asserting any claim or counterclaim arising under or in connection with this Agreement or any other Loan Document shall be brought solely in a court of the State of
New York sitting in the Borough of Manhattan or any federal court sitting therein, as the Collateral Agent may elect in its sole discretion, and consents to the exclusive jurisdiction of such courts with respect to any such action. 
 (c) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in SECTION 8.01. Nothing in
this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
 SECTION 8.14 Termination; Release of Collateral. 
 (a) Any Lien upon any Collateral
will be released automatically if the Collateral constitutes property being sold, transferred or disposed of in a Permitted Disposition upon receipt by the Collateral Agent of the Net Proceeds thereof to the extent required by the Credit Agreement.
Upon at least two (2) Business Days’ prior written request by the Lead Borrower, the Collateral Agent shall execute such documents as may be necessary to evidence the release of the Liens upon any Collateral 
  

 -22- 

 described in this SECTION 8.14(a); provided, however, that (i) the Collateral Agent
shall not be required to execute any such document on terms which, in its reasonable opinion, would, under Applicable Law, expose the Collateral Agent to liability or create any obligation or entail any adverse consequence other than the release of
such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Secured Obligations or any Liens (other than those expressly being released) upon (or obligations of any Grantor in respect
of) all interests retained by any Grantor, including, without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Collateral. 
 (b) Except for those provisions which expressly survive the termination thereof, this Agreement and the Security Interest granted herein
shall terminate when all of the Secured Obligations (other than contingent indemnity obligations with respect to then unasserted claims, provided that such contingent indemnity obligations have been cash collateralized in a manner reasonably
satisfactory to the Collateral Agent) have been indefeasibly paid in full in cash, at which time the Collateral Agent shall execute and deliver to the Grantors, at the Grantors’ expense, all UCC termination statements and similar documents that
the Grantors shall reasonably request to evidence such termination; provided, however, that the Credit Agreement, this Agreement, and the Security Interest granted herein shall be reinstated if at any time payment, or any part thereof, of any
Secured Obligation is rescinded or must otherwise be restored by any Secured Party upon the bankruptcy or reorganization of any Grantor or any other Loan Party. Any execution and delivery of termination statements or other documents pursuant to this
SECTION 8.14 shall be without recourse to, or warranty by, the Collateral Agent or any other Secured Party. 
 SECTION 8.15 Intercreditor
Agreement. The Grantors and the Collateral Agent acknowledge that the exercise of certain of the Collateral Agent’s Rights and Remedies hereunder may be subject to, and restricted by, the provisions of the Intercreditor Agreement. Except as
specified herein, nothing contained in the Intercreditor Agreement shall be deemed to modify any of the provisions of this Agreement, which, as among the Grantors and the Collateral Agent shall remain in full force and effect. 
 [SIGNATURE PAGES FOLLOW] 
  

 -23- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first
above written. 
  

					
	GRANTORS:	 	BURLINGTON COAT FACTORY WAREHOUSE CORPORATION
			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	BURLINGTON COAT FACTORY HOLDINGS, INC.
			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	 BURLINGTON COAT FACTORY
 INVESTMENTS
HOLDINGS, INC.

			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	 EACH OF THE SUBSIDIARIES LISTED ON
 SCHEDULE
I HERETO

			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory

  

 -24- 

					
	COLLATERAL AGENT:	 	BEAR STEARNS CORPORATE LENDING INC.
			
		 	By:	 	 /s/ Keith C. Barnish

		 	Name:	 	Keith C. Barnish
		 	Title:	 	Executive Vice President

  

 -25- 

 SCHEDULE I 
 Facility Guarantors 
  

 -26- 

 SCHEDULE 3.06 
 Bailees; Warehousemen 
  

 -27- 

 SCHEDULE 3.07 
 Consignments 
  

 -28- 

 SCHEDULE 4.12 
 Commercial Tort Claims 
  

 -29-Intellectual Property Security Agreement

 Exhibit 10.4 
 EXECUTION COPY 
 INTELLECTUAL PROPERTY SECURITY AGREEMENT 
 INTELLECTUAL PROPERTY SECURITY AGREEMENT (this “Agreement”), dated as of April 13, 2006, by and among (a) Burlington Coat
Factory Warehouse Corporation (the “Borrower”), (b) Burlington Coat Factory Holdings, Inc., Burlington Coat Factory Investments Holdings, Inc., and each of the Persons listed on Schedule I hereto (each individually, a
“Facility Guarantor” and, collectively, the “Facility Guarantors”) (the Borrower and the Facility Guarantors are hereinafter referred to, individually, as a “Grantor” and, collectively, as the
“Grantors”), and (c) Bear Stearns Corporate Lending Inc., as collateral agent (in such capacity, the “Collateral Agent”) for its own benefit and the benefit of the other Secured Parties (as defined in the
Security Agreement referred to below), in consideration of the mutual covenants contained herein and benefits to be derived herefrom. 
 WITNESSETH: 
 WHEREAS, reference is made to that certain Credit Agreement, dated as of April 13, 2006 (as amended, modified,
supplemented or restated and in effect from time to time, the “Credit Agreement”), by and between, among others, the Grantors, as Loan Parties, the Lenders party thereto from time to time, Bear Stearns Corporate Lending Inc., as
Administrative Agent and Collateral Agent for its own benefit and the benefit of the other Secured Parties and Banc of America Securities LLC, as Syndication Agent., pursuant to which the Lenders have agreed to make Term Loans to the Borrower, upon
the terms and subject to the conditions specified in the Credit Agreement; and 
 WHEREAS, reference is also made to that certain Guaranty,
dated as of even date herewith (as amended, modified, supplemented or restated and in effect from time to time, the “Guaranty”), executed by the Facility Guarantors in favor of the Administrative Agent and the other Secured Parties,
pursuant to which each Facility Guarantor guarantees the payment and performance of the Guaranteed Obligations (as defined in the Guaranty); and 
 WHEREAS, the obligations of the Lenders to make Term Loans are conditioned upon, among other things, the execution and delivery by the Grantors of (i) that certain Security Agreement, dated as of even date herewith (as amended,
modified, supplemented or restated and in effect from time to time, the “Security Agreement”), by and among the Grantors and the Collateral Agent, pursuant to which each Grantor grants to the Collateral Agent (for its own benefit
and the benefit of the other Secured Parties) a security interest in and to the Collateral (as defined in the Security Agreement), and (ii) an agreement in the form hereof, pursuant to which each Grantor grants to the Collateral Agent (for its
own benefit and the benefit of the other Secured Parties) a security interest in and to the IP Collateral (as defined herein), in order to secure the Secured Obligations (as defined herein). 
  

 1 

 NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and
for good and valuable consideration, the receipt of which is hereby acknowledged, the Grantors and the Collateral Agent, on its own behalf and on behalf of the other Secured Parties (and each of their respective successors or assigns), hereby agree
as follows: 
 SECTION 1. GENERAL 
 (a) Definitions. Unless the context otherwise requires, all capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement or the Security Agreement (as applicable). In
addition, as used herein, the following terms shall have the following meanings: 
 “Copyrights” shall mean all copyrights
and like protections in each work of authorship or derivative work thereof, whether registered or unregistered and whether published or unpublished, including, without limitation, the United States copyright registrations and copyright applications
listed on EXHIBIT A annexed hereto and made a part hereof, together with all registrations and recordings thereof and all applications in connection therewith. 
 “Copyright Licenses” shall mean all agreements, whether written or oral, providing for the grant by or to any Grantor of any right under any Copyright, including, without limitation, the agreements
listed on EXHIBIT A annexed hereto and made a part hereof. 
 “Copyright Office” shall mean the United States
Copyright Office or any other federal governmental agency which may hereafter perform its functions. 
 “Intellectual
Property” shall mean each of the items specified in Sections 2(a), (b), (c), (d), (e), and (f). 
 “IP Collateral”
shall have the meaning assigned to such term in SECTION 2 hereof. 
 “Licenses” shall mean, collectively, the Copyright
Licenses, Patent Licenses, Trademark Licenses, and any other license providing for the grant by or to any Grantor of any right to use Intellectual Property as such term is defined herein. 
 “Patents” shall mean all patents and applications for patents, and the inventions and improvements therein disclosed, and any and all
divisions, revisions, reissues and continuations, continuations-in-part, extensions, and reexaminations of said patents including, without limitation, the United States patents and patent applications listed on EXHIBIT B annexed hereto and
made a part hereof. 
  

 2 

 “Patent Licenses” shall mean all agreements, whether written or oral, providing for the
grant by or to any Grantor of any right under any Patent, including, without limitation, the agreements listed on EXHIBIT B annexed hereto and made a part hereof. 
 “PTO” shall mean the United States Patent and Trademark Office or any other federal governmental agency which may hereafter perform its functions. 
 “Secured Obligations” shall have the meaning assigned to such term in the Security Agreement. 
 “Trademarks” shall mean all trademarks, trade names, corporate names, company names, Internet domain names, business names, fictitious
business names, trade dress, trade styles, service marks, designs, logos and other source or business identifiers, whether registered or unregistered, including, without limitation, the United States trademark registrations and trademark
applications listed on EXHIBIT C annexed hereto and made a part hereof, together with all registrations thereof, all applications in connection therewith, and any goodwill of the business connected with, and symbolized by, any of the
foregoing. 
 “Trademark Licenses” shall mean all agreements, whether written or oral, providing for the grant by or to any
Grantor of any right under any Trademark, including, without limitation, the agreements listed on EXHIBIT C annexed hereto and made a part hereof. 
 (b) Rules of Interpretation. The rules of interpretation specified in Sections 1.02 through 1.07 of the Credit Agreement shall be applicable to this Agreement. 
 SECTION 2. Grant of Security Interest. In furtherance and as confirmation of the Security Interest granted by the Grantors to the Collateral Agent
(for its own benefit and the benefit of the other Secured Parties) under the Security Agreement, and as further security for the payment or performance, as the case may be, in full of the Secured Obligations, each of the Grantors hereby ratifies
such Security Interest and grants to the Collateral Agent (for its own benefit and the benefit of the other Secured Parties) a continuing security interest, in all of the present and future right, title and interest of such Grantor in, to and under
the following property, and each item thereof, whether now owned or existing or hereafter acquired or arising, together with all products, proceeds, substitutions, and accessions of or to any of the following property (collectively, the “IP
Collateral”): 
 (a) All Copyrights. 
 (b) All Patents. 
 (c) All Trademarks. 
 (d) All renewals of any of the foregoing. 
  

 3 

 (e) All trade secrets, know-how and other proprietary information; works of authorship
and other copyrightable works (including copyrights for computer programs), and all tangible and intangible property embodying the foregoing; inventions (whether or not patentable) and all improvements thereto; industrial design applications and
registered industrial designs; books, records, writings, computer tapes or disks, flow diagrams, specification sheets, computer software, source codes, object codes, executable code, data, databases, and other physical manifestations, embodiments or
incorporations of any of the foregoing, and all other intellectual property and proprietary rights. 
 (f) All General
Intangibles connected with the use of, or related to, any and all Intellectual Property (including, without limitation, all goodwill of each Grantor and its business, products and services appurtenant to, associated with, or symbolized by, any and
all Intellectual Property and the use thereof). 
 (g) All Licenses and all income, royalties, damages and payments now and
hereafter due and/or payable under and with respect to any of the foregoing, including, without limitation, payments under all Licenses entered into in connection therewith and damages and payments for past or future infringements, misappropriations
or dilutions thereof. 
 (h) The right to sue for past, present and future infringements, misappropriations and dilutions of
any of the foregoing. 
 (i) All of the Grantors’ rights corresponding to any of the foregoing throughout the world.

 Notwithstanding the foregoing, no Trademark shall be included in the definition of IP Collateral to the extent that the grant of a security
interest in such Trademark would result in, permit or provide grounds for the cancellation or invalidation of such Trademark. 
 SECTION 3.
Protection of Intellectual Property By Grantors. Except as set forth below in this SECTION 3, each of the Grantors shall use commercially reasonable efforts to undertake the following with respect to each item of Intellectual Property used or
useful to the conduct of the business of such Grantor, in each case as deemed appropriate in such Grantor’s reasonable business judgment: 
 (a) Pay all renewal fees and other fees and costs associated with maintaining and prosecuting issuances, registrations and applications relating to such Intellectual Property and take all other customary and
reasonably necessary steps to maintain each registration of such Intellectual Property. 
  

 4 

 (b) Take all actions reasonably necessary to prevent any of such Intellectual Property
from becoming forfeited, abandoned, dedicated to the public (other than at the expiration of any non-renewable statutory term), or invalidated. 
 (c) At the Grantors’ sole cost and expense, pursue the prosecution of each application for registration in such Intellectual Property that is the subject of the security interest created herein and not abandon
any such application. 
 (d) At the Grantors’ sole cost and expense take any and all action that the Grantors reasonably
deem appropriate under the circumstances to protect such Intellectual Property from infringement, misappropriation or dilution, including, without limitation, the prosecution and defense of infringement actions. 
 Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, and no Material Adverse Effect would result therefrom, no
Grantor shall have any obligation to take any of the actions described in Sections 3(a), (b), (c) and (d) above with respect to any Intellectual Property (i) that relates solely to any of the Grantor’s products or services that
have been discontinued, abandoned or terminated, or (ii) that has been replaced with Intellectual Property substantially similar to the Intellectual Property that may be abandoned or otherwise become invalid, so long as the failure to take such
actions with respect to such Intellectual Property does not materially adversely affect the validity of such replacement Intellectual Property and so long as such replacement Intellectual Property is subject to the security interest created by this
Agreement, or (iii) that otherwise is no longer used in or useful to the business of any Grantor. 
 SECTION 4. Grantors’
Representations and Warranties. In addition to any representations and warranties contained in any other Loan Documents, each Grantor represents and warrants that: 
 (a) EXHIBIT A is a true, correct and complete list of all United States and Canadian Copyright registrations and applications for
the registration of Copyrights owned by such Grantor. 
 (b) EXHIBIT B is a true, correct and complete list of all
United States and Canadian Patents and Patent applications owned by such Grantor. 
 (c) EXHIBIT C is a true, correct
and complete list of all United States and Canadian Trademark registrations and applications owned by such Grantor. 
 (d)
EXHIBIT D is a true, correct and complete list of all Licenses (other than Licenses relating to commercially available, off-the-shelf software) to which such Grantor is a party as of the date hereof. 
  

 5 

 (e) Except as set forth in EXHIBIT D, none of the Intellectual Property owned by
such Grantor is the subject of any licensing or franchise agreement pursuant to which such Grantor is the licensor or franchisor. 
 (f) All IP Collateral is, and shall remain, free and clear of all Liens, encumbrances, or security interests in favor of any Person, other than Permitted Encumbrances and Liens in favor of the Collateral Agent. 
 (g) No holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity
of, or such Grantor’s rights in, any Intellectual Property or Licenses in any respect that could reasonably be expected to have a Material Adverse Effect on the business or the property of such Grantor. 
 (h) Such Grantor shall give the Collateral Agent prompt written notice (with reasonable detail), but in no event more than thirty
(30) days following the occurrence of any of the following: 
 (i) Such Grantor’s filing applications for
registration of, being issued a registration in or receiving an issuance of any Intellectual Property, or otherwise acquiring ownership of any registered Intellectual Property (other than the acquisition by such Grantor of the right to sell products
containing the trademarks of others in the ordinary course of such Grantor’s business). 
 (ii) The filing and acceptance
of a statement of use or an amendment to allege use in connection with any of such Grantor’s intent-to-use Trademark applications. 
 (iii) Such Grantor’s entering into any new Licenses with respect to the Intellectual Property. 
 (iv) Such Grantor’s knowing that any application or registration relating to any Intellectual Property could reasonably be expected to, other than as provided in SECTION 3 above, become forfeited, abandoned or dedicated to the public
(other than at the end of any non-renewable statutory term), or of any adverse determination (including, without limitation, the institution of, or any such determination in, any proceeding in the PTO, the Copyright Office or any court or tribunal)
regarding such Grantor’s ownership of, the validity of, or enforceability of any Intellectual Property or such Grantor’s right to register the same or to own and maintain the same. 
  

 6 

 SECTION 5. Agreement Applies to Future Intellectual Property. 
 (a) The provisions of this Agreement shall automatically apply to any such additional property or rights described in subsections (i),
(ii), (iii) and (iv) of SECTION 4(h), above, all of which shall be deemed to be and treated as “Intellectual Property” or “Licenses”, as applicable, within the meaning of this Agreement. Upon the acquisition, execution,
registration or application by any Grantor of any additional Intellectual Property or Licenses, Grantor shall promptly, but in no event more than thirty (30) days thereafter, deliver to the Collateral Agent an updated EXHIBIT A,
B, C and/or D (as applicable) to this Agreement and hereby authorizes the Collateral Agent to file, at such Grantor’s expense, such updated Exhibit as set forth in SECTION 5(b). 
 (b) Upon the reasonable written request of the Collateral Agent, each of the Grantors shall execute and deliver, and have recorded, any
and all agreements, instruments, documents and papers as the Collateral Agent may reasonably request, including but not limited to notices of security interests substantially in the form of EXHIBIT E (Notice of Security Interest in Trademarks
and Patents) or EXHIBIT F (Notice of Security Interest in Copyrights), as applicable, attached hereto, to evidence the Collateral Agent’s security interest in any Intellectual Property in the United States or Canada (including, without
limitation, filings with the PTO, the Copyright Office, the Canadian Intellectual Property Office, or any similar government office, as applicable), and each of the Grantors hereby appoints the Collateral Agent as its attorney-in-fact for the sole
purpose of executing and filing all such writings for the foregoing purposes, all such acts of such attorney being hereby ratified and confirmed; provided, however, the Collateral Agent’s taking of such action shall not be a condition to
the creation or perfection of the security interest created hereby. 
 SECTION 6. Grantors’ Rights To Enforce IP Collateral.
Prior to the occurrence or after the cure of an Event of Default, the Grantors shall have the exclusive right to sue for past, present and future infringement, misappropriation or dilution of or other conflict with the IP Collateral, including
without limitation the right to seek injunctions and/or money damages in an effort by the Grantors to protect the Intellectual Property and Licenses against infringement, misappropriation or dilution by or other conflict with third parties,
provided, however, that: 
 (a) The Grantors first provide the Collateral Agent with written notice of the
Grantors’ institution of any legal proceedings for enforcement of any Intellectual Property or Licenses. 
 (b) Any money
damages awarded or received by the Grantors on account of such suit (or the threat of such suit) shall constitute IP Collateral. 
 (c) Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent, by written notice to the Grantors, may terminate or limit the Grantor’s rights under this SECTION 6. 
  

 7 

 SECTION 7. Collateral Agent’s Actions To Protect Intellectual Property. In the event of

 (a) any Grantor’s failure, within thirty (30) days of written notice from the Collateral Agent, to cure any
failure by such Grantor to observe or perform any of such Grantor’s covenants, agreements or other obligations hereunder; and/or 
 (b) the occurrence and continuance of any Event of Default, 
 the Collateral Agent, acting in its own name or
in that of any Grantor, may (but shall not be required to) act in any Grantor’s place and stead and/or in the Collateral Agent’s own right in connection therewith. 
 SECTION 8. Rights Upon Default. Upon the occurrence and during the continuance of an Event of Default, in addition to all other rights and
remedies hereunder, the Collateral Agent may exercise all rights and remedies of a Secured Party as defined in the UCC, with respect to the Intellectual Property and the Licenses, in addition to which the Collateral Agent may sell, license, assign,
transfer, or otherwise dispose of the Intellectual Property or Licenses, subject to those restrictions to which such Grantor is subject under Applicable Law and by contract. Any person may conclusively rely upon an affidavit of a Responsible Officer
of the Collateral Agent that an Event of Default has occurred and that the Collateral Agent is authorized to exercise such rights and remedies. 
 SECTION 9. Collateral Agent As Attorney-In-Fact. 
 (a) Each of the Grantors hereby irrevocably makes,
constitutes and appoints the Collateral Agent (and all officers, employees or agents designated by the Collateral Agent) as and for such Grantor’s true and lawful agent and attorney-in-fact, exercisable upon the occurrence and during the
continuance of any Event of Default, and in such capacity the Collateral Agent shall have the right, with power of substitution for each Grantor and in each Grantor’s name or otherwise, for the use and benefit of the Collateral Agent and the
other Secured Parties: 
 (i) To supplement and amend from time to time EXHIBITS A, B and C of this Agreement to
include any newly developed, applied for, registered, or acquired Intellectual Property of such Grantor and any intent-to-use Trademark applications for which a statement of use or an amendment to allege use has been filed and accepted by the PTO.

 (ii) To exercise any of the rights and powers referenced herein. 
 (iii) To execute all such instruments, documents, and papers as the Collateral Agent reasonably determines to be appropriate in connection
with the exercise of such rights and remedies, subject to those restrictions to which such Grantor is subject under Applicable Law and by contract. 
  

 8 

 (b) The power of attorney granted herein, being coupled with an interest, shall be
irrevocable until this Agreement is terminated in writing by a duly authorized officer of the Collateral Agent. 
 (c) The
Collateral Agent shall not be obligated to do any of the acts or to exercise any of the powers authorized by SECTION 9(a), but if the Collateral Agent elects to do any such act or to exercise any of such powers, it shall not be accountable for more
than it actually receives as a result of such exercise of power, and shall not be responsible to the Grantors for any act or omission to act, except for any act or omission to act as to which there is a final and nonappealable judgment made by a
court of competent jurisdiction, which determination includes a specific finding that the subject act or omission to act has resulted from the gross negligence, bad faith or willful misconduct of the Collateral Agent. 
 SECTION 10. Collateral Agent’s Rights. Any use by the Collateral Agent of the Intellectual Property, as authorized hereunder in connection
with the exercise of the Collateral Agent’s rights and remedies under this Agreement, the Credit Agreement and the Security Agreement shall be coextensive with the Grantor’s rights thereunder and with respect thereto and without any
liability for royalties or other related charges. 
 SECTION 11. Intent. A notice of security interest, in form and substance
reasonably satisfactory to the Collateral Agent and substantially in the form of EXHIBIT E and EXHIBIT F, as applicable, attached hereto, will be executed and delivered by the Grantors to the Collateral Agent contemporaneously with the
execution and delivery of this Agreement for the purpose of recording the grant of the security interest of the Collateral Agent in the Intellectual Property with the PTO, the Copyright Office, or the Canadian Intellectual Property Office, as
applicable. It is intended that the security interest granted pursuant to this Agreement or pursuant to any security agreement used for the purpose of recording with the PTO, the Copyright Office, or the Canadian Intellectual Property Office, as
applicable, the grant of the security interest herein is coextensive with, and not in addition to or in limitation of, the Security Interest granted to the Collateral Agent, for its own benefit and the benefit of the other Secured Parties, under the
Security Agreement. All provisions of the Security Agreement shall apply to the IP Collateral. The Collateral Agent shall have the same rights, remedies, powers, privileges and discretions with respect to the security interests created in the IP
Collateral as in all other Collateral. In the event of a conflict between this Agreement and the Security Agreement, the terms of this Agreement shall control with respect to the IP Collateral and the Security Agreement with respect to all other
Collateral. 
 SECTION 12. Further Assurances. Each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to
be duly filed all such further documents, financing statements, 
  

 9 

 agreements and instruments and take all such further actions as the Collateral Agent may from time to time reasonably
request in writing to better assure, preserve, protect and perfect in the United States or Canada (as applicable) the security interest in the IP Collateral granted pursuant to this Agreement and the rights and remedies created hereby or the
validity or priority of such security interest, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the security interest and the filing of any financing statements or
other documents in connection herewith or therewith. 
 SECTION 13. Termination; Release of IP Collateral. Except for those provisions
which expressly survive the termination thereof, this Agreement and the security interest granted herein shall automatically terminate when (i) the principal of and interest on each Term Loan and all fees and other Secured Obligations (other
than contingent indemnification obligations as to which no claims have been asserted) shall have been paid in full, at which time the Collateral Agent shall execute and deliver to the Grantors, at the Grantors’ expense, all termination
statements, releases and similar documents that the Grantors shall reasonably request to evidence such termination; provided, however, that the Credit Agreement, this Agreement, and the security interest granted herein shall be reinstated if
at any time payment, or any part thereof, of any Secured Obligation is rescinded or must otherwise be restored by any Secured Party upon the bankruptcy or reorganization of any Grantor or any other Loan Party. Any execution and delivery of
termination statements, releases or other documents pursuant to this SECTION 13 shall be without recourse to, or warranty by, the Collateral Agent or any other Secured Party. 
 SECTION 14. Choice of Laws. It is intended that all rights and obligations under this Agreement, including matters of construction, validity, and
performance, shall be governed by the laws of the State of New York. 
 SECTION 15. Notices. All communications, requests and notices
hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. 
 SECTION 16. Intercreditor Agreement. The Grantors and the Collateral Agent acknowledge that the exercise of certain of the Collateral Agent’s Rights and Remedies hereunder may be subject to, and restricted by, the provisions of
the Intercreditor Agreement. Except as specified herein, nothing contained in the Intercreditor Agreement shall be deemed to modify any of the provisions of this Agreement, which, as among the Grantors and the Collateral Agent shall remain in full
force and effect. 
 [SIGNATURE PAGE FOLLOWS] 
  

 10 

 IN WITNESS WHEREOF, the Grantors and the Collateral Agent have caused this Agreement to be executed by
their duly authorized officers as of the date first above written. 
  

					
	GRANTORS:	 	 BURLINGTON COAT FACTORY
 WAREHOUSE
CORPORATION

			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	BURLINGTON COAT FACTORY HOLDINGS, INC.
			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	 BURLINGTON COAT FACTORY
 INVESTMENTS
HOLDINGS, INC.

			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory
		
		 	 EACH OF THE SUBSIDIARIES LISTED ON
 SCHEDULE
I HERETO

			
		 	By:	 	 /s/ Paul Tang

		 	Name:	 	Paul Tang
		 	Title:	 	Duly Authorized Signatory

  

 11 

					
	COLLATERAL AGENT:	 	BEAR STEARNS CORPORATE LENDING INC.
			
		 	By:	 	 /s/ Keith C. Barnish

		 	Name:	 	Keith C. Barnish
		 	Title:	 	Executive Vice President

  

 12 

 EXHIBIT A 
 List of Copyrights 
 Copyright Registrations and Applications 
  

							
	 Title
	 	 Serial No.
	 	 Registration No.
	 	 Registration Date

  

 13 

 EXHIBIT B 
 List of Patents 
 Patents and Patent Applications 
  

									
	Applicant	 	Title	 	Serial No.	 	Patent No.	 	Date of Filing

  

 14 

 EXHIBIT C 
 List of Trademarks 
 Trademark Registrations and Applications 
  

									
	 Registered Owner
 of Trademark or
 Servicemark
	 	Trademark or
Servicemark	 	Country	 	Reg./App.
Number	 	Reg./App.
Date

  

 15 

 EXHIBIT D 
 List of Licenses 
 Copyright Licenses 
 Patent Licenses 
 Trademark Licenses 
  

 16 

 EXHIBIT E 
 Form of Notice of Security Interest in Trademarks and Patents 
  

 17 

 EXHIBIT F 
 Form of Notice of Security Interest in Copyrights 
  

 18 

 Schedule I 
 Guarantors 
  

 19

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