Document:

Security Agreement, dated as of August 9, 2006

 Exhibit 4.1(b) 

 
  

 
 SECURITY AGREEMENT 

dated as of 

August 9, 2006 

among 
 NIELSEN
FINANCE LLC, 
 THE OTHER GRANTORS IDENTIFIED HEREIN 

and 
 CITIBANK,
N.A., 
 as Collateral Agent 
  

 
  

 TABLE OF CONTENTS 

 

					
	ARTICLE I Definitions	  	1
			
	 SECTION 1.01.
	  	Credit Agreement	  	1
			
	 SECTION 1.02.
	  	Other Defined Terms	  	1
		
	ARTICLE II Pledge of Securities	  	3
			
	 SECTION 2.01.
	  	Pledge	  	3
			
	 SECTION 2.02.
	  	Delivery of the Pledged Collateral	  	4
			
	 SECTION 2.03.
	  	Representations, Warranties and Covenants	  	5
			
	 SECTION 2.04.
	  	Certification of Limited Liability Company and Limited Partnership Interests	  	6
			
	 SECTION 2.05.
	  	Registration in Nominee Name; Denominations	  	6
			
	 SECTION 2.06.
	  	Voting Rights; Dividends and Interest	  	7
		
	ARTICLE III Security Interests in Personal Property	  	9
			
	 SECTION 3.01.
	  	Security Interest	  	9
			
	 SECTION 3.02.
	  	Representations and Warranties	  	11
			
	 SECTION 3.03.
	  	Covenants	  	12
			
	 SECTION 3.04.
	  	Other Actions	  	13
		
	ARTICLE IV Remedies	  	14
			
	 SECTION 4.01.
	  	Remedies Upon Default	  	14
			
	 SECTION 4.02.
	  	Application of Proceeds	  	16
		
	ARTICLE V Indemnity, Subrogation and Subordination	  	17
			
	 SECTION 5.01.
	  	Indemnity	  	17
			
	 SECTION 5.02.
	  	Contribution and Subrogation	  	17
			
	 SECTION 5.03.
	  	Subordination	  	18
		
	ARTICLE VI Miscellaneous	  	18
			
	 SECTION 6.01.
	  	Notices	  	18
			
	 SECTION 6.02.
	  	Waivers; Amendment	  	18
			
	 SECTION 6.03.
	  	Collateral Agent’s Fees and Expenses; Indemnification	  	19
			
	 SECTION 6.04.
	  	Successors and Assigns	  	19
			
	 SECTION 6.05.
	  	Survival of Agreement	  	19
			
	 SECTION 6.06.
	  	Counterparts; Effectiveness; Several Agreement	  	20

					
	 SECTION 6.07.
	  	Severability	  	20
			
	 SECTION 6.08.
	  	Right of Set-Off	  	20
			
	 SECTION 6.09.
	  	Governing Law; Jurisdiction; Consent to Service of Process	  	21
			
	 SECTION 6.10.
	  	WAIVER OF JURY TRIAL	  	21
			
	 SECTION 6.11.
	  	Headings	  	22
			
	 SECTION 6.12.
	  	Security Interest Absolute	  	22
			
	 SECTION 6.13.
	  	Termination or Release	  	22
			
	 SECTION 6.14.
	  	Additional Restricted Subsidiaries	  	22
			
	 SECTION 6.15.
	  	Collateral Agent Appointed Attorney-in-Fact	  	23
			
	 SECTION 6.16.
	  	General Authority of the Collateral Agent	  	24
			
	 SECTION 6.17.
	  	Miscellaneous	  	24

			
	Schedules	  	
		
	Schedule I	  	Pledged Equity; Pledged Debt
		
	Exhibits	  	
		
	Exhibit I	  	Form of Security Agreement Supplement

 SECURITY AGREEMENT dated as of August 9, 2006 among NIELSEN FINANCE
LLC (the “U.S. Borrower”), the other Grantors identified herein and who become a party hereto from time to time and CITIBANK, N.A., as Collateral Agent for the Secured Parties (as defined below). 

Reference is made to the Credit Agreement dated as of August 9, 2006 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among the U.S. Borrower, VNU Holding and Finance B.V., VNU, Inc., the Guarantors party thereto from time to time, the lenders and other parties thereto from time to time and Citibank, N.A., as
Administrative Agent. The Lenders have agreed to extend credit to the Borrowers subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Lenders to extend such credit are conditioned upon, among other things, the
execution and delivery of this Agreement. The Guarantors are affiliates of the Borrowers, will derive substantial benefits from the extension of credit to the Borrowers pursuant to the Credit Agreement and are willing to execute and deliver this
Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties hereto agree as follows: 
 ARTICLE I

 Definitions 

SECTION 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the
meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein; the term “instrument” shall have the meaning specified in
Article 9 of the New York UCC. 
 (b) The rules of construction specified in Article I of the Credit Agreement also
apply to this Agreement. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the
meanings specified below: 
 “Account Debtor” means any Person who is or who may become obligated to any Grantor
under, with respect to or on account of an Account. 
 “Accounts” has the meaning specified in Article 9
of the New York UCC; provided that such term shall not include accounts receivable sold pursuant to any Permitted Receivables Financing. 

“Agreement” means this Security Agreement. 

“Article 9 Collateral” has the meaning assigned to such term in Section 3.01(a). 

 “Claiming Party” has the meaning assigned to such term in
Section 5.02. 
 “Collateral” means the Article 9 Collateral and the Pledged Collateral. 

“Contributing Party” has the meaning assigned to such term in Section 5.02. 

“Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“General Intangibles” has the meaning specified in Article 9 of the New York UCC, and shall include corporate or
other business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, Swap Contracts and other agreements), goodwill, registrations, franchises, tax refund claims and any letter of
credit, guarantee, claim, security interest or other security held by or granted to any Grantor, as the case may be, to secure payment by an Account Debtor of any of the Accounts; provided that such term shall not include any intellectual property
and related assets subject to the Intellectual Property Security Agreement between certain of the Grantors and the Collateral Agent dated the date hereof. 

“Grantor” means each of the U.S. Borrower, each Guarantor that is a party hereto, and each Guarantor that is a Domestic
Subsidiary that becomes a party to this Agreement after the Closing Date; provided, that notwithstanding anything to the contrary in this Agreement, (i) the Third Party Pledgor is a party to this Agreement and a Grantor hereunder solely
for the purpose of granting a security interest in the Equity Interests of VNU, Inc., ACN Holdings, Inc. and Decisions Made Easy, Inc. (and shall not be deemed a “Grantor” for purposes of Article III hereunder other than with respect to
items described in clause (xi) thereof with respect to such Equity Interests), (ii) the grant of a security interest by the Third Party Pledgor pursuant to this Agreement shall extend only to the Pledged Equity and items described in
clause (xi) of Article III hereunder with respect to such Equity Interests of VNU, Inc., ACN Holdings, Inc. and Decisions Made Easy, Inc., as the case may be, and shall not extend to, and the Collateral pledged by the Third Party Pledgor shall
not include, any other assets directly owned by such Third Party Pledgor, and (iii) the Third Party Pledgor shall not be subject to any representations, warranties or covenants contained herein, except to the extent directly applicable to such
Pledged Equity. 
 “New York UCC” means the Uniform Commercial Code as from time to time in effect in the State
of New York. 
 “Pledged Collateral” has the meaning assigned to such term in Section 2.01. 

“Pledged Debt” has the meaning assigned to such term in Section 2.01. 

“Pledged Equity” has the meaning assigned to such term in Section 2.01. 

 

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 “Pledged Securities” means any promissory notes, stock certificates or
other securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Secured Obligations” means the “Obligations” as defined in the Credit Agreement. 

“Secured Parties” means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Banks, the
Supplemental Agents and each co-agent or sub-agent appointed by the Administrative Agent or the Collateral Agent from time to time pursuant to Section 9.02 of the Credit Agreement. 

“Security Agreement Supplement” means an instrument in the form of Exhibit I hereto. 

“Security Interest” has the meaning assigned to such term in Section 3.01(a). 

“Third Party Pledgor” means VNU International B.V., a private company organized under the laws of The Netherlands,
having its corporate seat in Haarlem, The Netherlands. 
 “U.S. Borrower” has the meaning assigned to such term
in the preliminary statement of this Agreement. 
 ARTICLE II 

Pledge of Securities 

SECTION 2.01. Pledge. As security for the payment or performance, as the case may be, in full of the Secured Obligations,
including the Guaranties, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns, for the benefit of
the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in, to and under (i) all Equity Interests held by it and listed on Schedule I and any other Equity Interests obtained in the future by such
Grantor and the certificates representing all such Equity Interests (the “Pledged Equity”); provided that the Pledged Equity shall not include (A) more than 65% of the issued and outstanding voting Equity Interests of
any Foreign Subsidiary of a Domestic Subsidiary, (B) Equity Interests of any Subsidiary of a Foreign Subsidiary, (C) Equity Interests of any Subsidiary acquired pursuant to a Permitted Acquisition financed with Indebtedness incurred
pursuant to Section 7.03(t) of the Credit Agreement if and so long as the terms of such Indebtedness prohibit the creation of a Lien in favor of the Collateral Agent for the benefit of the Secured Parties on such Equity Interests,
(D) Equity Interests of any Person that is not a direct or indirect, wholly owned Subsidiary of the Company, to the extent such pledge is prohibited by law or contract, (E) Equity Interests of any Subsidiary with respect to which the
Administrative Agent determines (with an 
  

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acknowledgement to the U.S. Borrower) that the costs or other consequences (including adverse tax consequences) of providing a pledge of its Equity Interests is excessive in view of the benefits
to be obtained by the Lenders, (F) any Equity Interests to the extent that, as of the Closing Date, and for so long as, such a pledge of such Equity Interests would violate law, or, with respect to Equity Interests of a Foreign Subsidiary, a
contractual obligation binding on or relating to such Equity Interests, and (G) any Equity Interests held by the Third Party Pledgor at any time other than Equity Interests in VNU, Inc., ACN Holdings, Inc. and Decisions Made Easy, Inc.;
(ii)(A) the debt securities owned by it and listed opposite the name of such Grantor on Schedule I, (B) any debt securities obtained in the future by such Grantor and (C) the promissory notes and any other instruments evidencing such
debt securities (the “Pledged Debt”); (iii) all other property that may be delivered to and held by the Collateral Agent pursuant to the terms of this Section 2.01; (iv) subject to Section 2.06, all payments of
principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the
securities referred to in clauses (i) and (ii) above; (v) subject to Section 2.06, all rights and privileges of such Grantor with respect to the securities and other property referred to in clauses (i), (ii), (iii)
and (iv) above; and (vi) all Proceeds of any of the foregoing (the items referred to in clauses (i) through (vi) above being collectively referred to as the “Pledged Collateral”). 

TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or
incidental thereto, unto the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 

SECTION 2.02. Delivery of the Pledged Collateral. (a) Each Grantor agrees promptly to deliver or cause to be delivered to the
Collateral Agent, for the benefit of the Secured Parties, any and all Pledged Securities (other than any uncertificated securities, but only for so long as such securities remain uncertificated) to the extent such Pledged Securities, in the case of
promissory notes or other instruments evidencing Indebtedness, are required to be delivered pursuant to paragraph (b) of this Section 2.02. 

(b) Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $10,000,000 owed to such
Grantor by any Person to be evidenced by a duly executed promissory note that is pledged and delivered to the Collateral Agent, for the benefit of the applicable Secured Parties, pursuant to the terms hereof. 

(c) Upon delivery to the Collateral Agent, (i) any Pledged Securities shall be accompanied by stock powers duly executed in blank or
other instruments of transfer reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the Collateral Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall
be accompanied by proper instruments of assignment duly executed by the applicable Grantor and such other instruments or documents as the Collateral Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule
describing the securities, which schedule 
  

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shall be attached hereto as Schedule I and made a part hereof; provided that failure to attach any such schedule hereto shall not affect the validity of such pledge of such Pledged
Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 
 SECTION 2.03. Representations,
Warranties and Covenants. The U.S. Borrower represents and warrants, as to itself and the other Grantors, to and with the Collateral Agent, for the benefit of the Secured Parties, that: 

(a) Schedule I correctly sets forth the percentage of the issued and outstanding units of each class of the Equity
Interests of the issuer thereof represented by the Pledged Equity and includes all material Equity Interests, debt securities and promissory notes required to be pledged hereunder pursuant to the Credit Agreement; 

(b) the Pledged Equity and Pledged Debt (solely with respect to Pledged Equity and Pledged Debt issued by a Person other
than VNUHF or a Subsidiary of VNUHF, to the best of the U.S. Borrower’s knowledge) have been duly and validly authorized and issued by the issuers thereof and (i) in the case of Pledged Equity, are fully paid and nonassessable and
(ii) in the case of Pledged Debt (solely with respect to Pledged Debt issued by a Person other than VNUHF or a Subsidiary of VNUHF, to the best of the U.S. Borrower’s knowledge), are legal, valid and binding obligations of the issuers
thereof; 
 (c) except for the security interests granted hereunder, each of the Grantors (i) is and,
subject to any transfers made in compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule I as owned by such Grantors, (ii) holds the same free and
clear of all Liens, other than (A) Liens created by the Collateral Documents and (B) Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement, (iii) will make no assignment, pledge, hypothecation or transfer of,
or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than (A) Liens created by the Collateral Documents and (B) Liens expressly permitted pursuant to Section 7.01 of the Credit
Agreement, and (iv) will defend its title or interest thereto or therein against any and all Liens (other than the Liens permitted pursuant to this Section 2.03(c)), however, arising, of all Persons whomsoever; 

(d) except for restrictions and limitations imposed by the Loan Documents or securities laws generally or laws, rules or
regulations governing the pledge of Equity Interests of Foreign Subsidiaries, the Pledged Collateral is and will continue to be freely transferable and assignable, and none of the Pledged Collateral is or will be subject to any option, right of
first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect in any manner material and adverse to the Secured Parties the pledge of such Pledged
Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 
  

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 (e) each of the Grantors has the power and authority to pledge the Pledged
Collateral pledged by it hereunder in the manner hereby done or contemplated; 
 (f) no consent or approval of
any Governmental Authority, any securities exchange or any other Person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect and other than with respect to any
laws, rules or regulations governing the pledge of Equity Interests of Foreign Subsidiaries); 
 (g) by virtue of
the execution and delivery by the Grantors of this Agreement, when any Pledged Securities (other than Equity Interests of any Foreign Subsidiary) are delivered to the Collateral Agent in accordance with this Agreement, the Collateral Agent will
obtain a legal, valid and perfected lien upon and security interest in such Pledged Securities as security for the payment and performance of the Secured Obligations; and 

(h) the pledge effected hereby is effective to vest in the Collateral Agent, for the benefit of the Secured Parties, the
rights of the Collateral Agent in the Pledged Collateral as set forth herein. 
 SECTION 2.04. Certification of Limited
Liability Company and Limited Partnership Interests. (a) Each interest in any limited liability company or limited partnership controlled by any Grantor, pledged under Section 2.01 and represented by a certificate, shall be a
“security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC, and each such interest shall at all times hereafter be represented by a certificate. 

(b) Each interest in any limited liability company or limited partnership controlled by any Grantor, pledged under Section 2.01 and
not represented by a certificate shall not be a “security” within the meaning of Article 8 of the New York UCC and shall not be governed by Article 8 of the New York UCC, and the Grantors shall at no time elect to treat any such
interest as a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless the applicable Grantor provides prior written notification to the Administrative Agent of such
election and immediately delivers any such certificate to the Administrative Agent pursuant to the terms hereof. 
 SECTION
2.05. Registration in Nominee Name; Denominations. If an Event of Default shall occur and be continuing and the Collateral Agent shall give the U.S. Borrower notice of its intent to exercise such rights, (a) the Collateral Agent, on
behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed
or assigned in blank or in favor of the Collateral Agent and each Grantor will promptly give to the 
  

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Collateral Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor and (b) the Collateral Agent shall
have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

SECTION 2.06. Voting Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have occurred and be
continuing and the Collateral Agent shall have notified the U.S. Borrower that the rights of the Grantors under this Section 2.06 are being suspended: 

(i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an
owner of Pledged Securities or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement and the other Loan Documents; provided that such rights and powers shall not be exercised in any manner that
could materially and adversely affect the rights inuring to a holder of any Pledged Securities or the rights and remedies of any of the Collateral Agent or the other Secured Parties under this Agreement, the Credit Agreement, any other Loan Document
or the ability of the Secured Parties to exercise the same. 
 (ii) The Collateral Agent shall execute and
deliver to each Grantor, or cause to be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or
consensual rights and powers it is entitled to exercise pursuant to subparagraph (i) above. 
 (iii) Each
Grantor shall be entitled to receive and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest,
principal and other distributions are permitted by, and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable Laws; provided that any noncash dividends,
interest, principal or other distributions that would constitute Pledged Equity or Pledged Debt, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or
received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become
part of the Pledged Collateral, and, if received by any Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Collateral
Agent and the Secured Parties and shall be forthwith delivered to the Collateral Agent in the same form as so received (with any necessary endorsement reasonably requested by the Collateral Agent). 

 

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 (b) Upon the occurrence and during the continuance of an Event of Default, after the
Collateral Agent shall have notified the U.S. Borrower of the suspension of the rights of the Grantors under paragraph (a)(iii) of this Section 2.06, then all rights of any Grantor to dividends, interest, principal or other distributions that
such Grantor is authorized to receive pursuant to paragraph (a)(iii) of this Section 2.06 shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority
to receive and retain such dividends, interest, principal or other distributions. All dividends, interest, principal or other distributions received by any Grantor contrary to the provisions of this Section 2.06 shall be held in trust for the
benefit of the Collateral Agent, shall be segregated from other property or funds of such Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same form as so received (with any necessary endorsement reasonably
requested by the Collateral Agent). Any and all money and other property paid over to or received by the Collateral Agent pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be established
by the Collateral Agent upon receipt of such money or other property and shall be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived, the Collateral Agent shall promptly repay to
each Grantor (without interest) all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 2.06 and that remain in such account.

 (c) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified the
U.S. Borrower of the suspension of the rights of the Grantors under paragraph (a)(i) of this Section 2.06, then all rights of any Grantor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant to
paragraph (a)(i) of this Section 2.06, and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 2.06, shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall
have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the Required Lenders, the Collateral Agent shall have the right from time to time following
and during the continuance of an Event of Default to permit the Grantors to exercise such rights. After all Events of Default have been cured or waived, each Grantor shall have the exclusive right to exercise the voting and/or consensual rights and
powers that such Grantor would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above. 
 (d)
Any notice given by the Collateral Agent to the U.S. Borrower suspending the rights of the Grantors under paragraph (a) of this Section 2.06 (i) shall be given in writing, (ii) may be given with respect to one or more of the
Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i) or paragraph (a)(iii) in part without suspending all such rights (as specified by the Collateral Agent in its sole and absolute
discretion) and without waiving or otherwise affecting the Collateral Agent’s rights to give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing. 

 

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 ARTICLE III 

Security Interests in Personal Property 

SECTION 3.01. Security Interest. (a) As security for the payment or performance, as the case may be, in full of the Secured
Obligations, including the Guarantees, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns, for
the benefit of the Secured Parties, a security interest (the “Security Interest”) in, all right, title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such
Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Article 9 Collateral”): 

(i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all Documents; 

(iv) all Letters of Credit and Letter-of-Credit Rights; 

(v) all Equipment; 

(vi) all General Intangibles; 

(vii) all Instruments; 

(viii) all Inventory; 

(ix) all Investment Property; 

(x) all books and records pertaining to the Article 9 Collateral; 

(xi) all Money and Deposit Accounts; and 

(xii) to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and all Supporting
Obligations, collateral security and guarantees given by any Person with respect to any of the foregoing; 
 provided, that
notwithstanding anything to the contrary in this Agreement, this Agreement shall not constitute a grant of a security interest in (and the term “Collateral” shall not include) (A) any vehicle covered by a certificate of title or
ownership, (B) any Equity Interest excluded from the pledge made pursuant to Article II hereunder pursuant to clauses (A) through (G) of Section 2.01, (C) any asset with respect to which the Administrative Agent determines
(with an acknowledgement to the U.S. Borrower) that the costs or other consequences (including adverse tax consequences) of providing a security interest in such asset is excessive in view of the benefits to be obtained by the

  

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Lenders, (D) any Equipment owned by any Grantor that is subject to a purchase money lien or a Capitalized Lease permitted by the Credit Agreement if the contract or other agreement in which
such Encumbrance is granted (or the documentation providing for such Capitalized Lease) prohibits or requires the consent of any person other than the U.S. Borrower or any Subsidiary as a condition to the creation of any other security interest on
such Equipment, (E) any assets with respect to which a security interest is not required to be granted under Section 6.11 of the Credit Agreement by reason of the second sentence of Section 6.11(b) or of Section 6.11(d) of the
Credit Agreement, (F) any Letter of Credit or Letter of Credit Rights to the extent any Grantor is required by applicable law to apply the proceeds of a drawing of such Letter of Credit for a specified purpose, or (G) any General
Intangible, Investment Property or rights of a Grantor arising under any contract, lease, instrument, license or other document if (but only to the extent that) the grant of a security interest therein would (x) constitute a violation of a
valid and enforceable restriction in respect of such General Intangible, Investment Property or other such rights in favor of a third party or under any law, regulation, permit, order or decree of any Governmental Authority, unless and until all
required consents shall have been obtained (for the avoidance of doubt, the restrictions described herein shall not include negative pledges or similar undertakings in favor of a lender or other financial counterparty) or (y) expressly give any
other party in respect of any such contract, lease, instrument, license or other document, the right to terminate its obligations thereunder, provided however, that the limitation set forth in clause (G) above shall not affect, limit,
restrict or impair the grant by a Grantor of a security interest pursuant to this Agreement in any such Collateral to the extent that an otherwise applicable prohibition or restriction on such grant is rendered ineffective by any applicable law,
including the UCC. Each Grantor shall, if requested to do so by the Administrative Agent or the Collateral Agent, use commercially reasonably efforts to obtain any such required consent that is reasonably obtainable with respect to Collateral which
the Administrative Agent or the Collateral Agent reasonably determines to be material. 
 (b) Each Grantor hereby irrevocably
authorizes the Collateral Agent for the benefit of the Secured Parties at any time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral
or any part thereof and amendments thereto that (i) indicate the Collateral as all assets of such Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain the information required by
Article 9 of the Uniform Commercial Code or the analogous legislation of each applicable jurisdiction for the filing of any financing statement or amendment, including (A) whether such Grantor is an organization, the type of organization and
any organizational identification number issued to such Grantor and (B) in the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9 Collateral relates. Each Grantor
agrees to provide such information to the Collateral Agent promptly upon request. 
 (c) 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 Article 9 Collateral. 

 

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 SECTION 3.02. Representations and Warranties. The U.S. Borrower represents and
warrants, as to itself and the other Grantors, to the Collateral Agent and the Secured Parties that: 
 (a) Each
Grantor has good and valid rights in and title to the Article 9 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 Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval that has been
obtained. 
 (b) The Perfection Certificate has been duly prepared, completed and executed and the information
set forth therein, including the exact legal name of each Grantor, is correct and complete in all material repects as of the Closing Date. The Uniform Commercial Code financing statements (including fixture filings, as applicable) or other
appropriate filings, recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate for filing in each governmental, municipal or other office specified in the
Perfection Certificate, are all the filings, recordings and registrations that are necessary to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) in respect of all
Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing,
refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements. 

(c) The Security Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral
securing the payment and performance of the Secured Obligations and (ii) subject to the filings described in Section 3.02(b), a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by
filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code. The Security Interest is and shall
be prior to any other Lien on any of the Article 9 Collateral, other than Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement. 

(d) The Article 9 Collateral is owned by the Grantors free and clear of any Lien, except for Liens expressly
permitted pursuant to Section 7.01 of the Credit Agreement. None of the Grantors has filed or consented to the filing of (i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws
covering any Article 9 Collateral or (ii) any assignment in which any Grantor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any

  

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foreign governmental, municipal or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case,
for Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement. 
 SECTION 3.03. Covenants.
(a) The U.S. Borrower agrees promptly to notify the Collateral Agent in writing of any change (i) in legal name of any Grantor, (ii) in the identity or type of organization or corporate structure of any Grantor, or (iii) in the
jurisdiction of organization of any Grantor. 
 (b) Each Grantor shall, at its own expense, take any and all commercially
reasonable actions necessary to defend title to the Article 9 Collateral against all Persons and to defend the Security Interest of the Collateral Agent in the Article 9 Collateral and the priority thereof against any Lien not expressly
permitted pursuant to Section 7.01 of the Credit Agreement. 
 (c) The U.S. Borrower agrees, on its own behalf and on
behalf of each other Grantor, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such 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, 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 (including fixture filings) or other documents in connection herewith or therewith. 

(d) 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 Article 9 Collateral and not permitted pursuant to Section 7.01 of the Credit Agreement, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any
Grantor fails to do so as required by the Credit Agreement or this Agreement and within a reasonable period of time after the Collateral Agent has requested that it do so, and each Grantor jointly and severally agrees to reimburse the Collateral
Agent within 10 days after demand for any payment made or any reasonable expense incurred by the Collateral Agent pursuant to the foregoing authorization. Nothing in this paragraph shall be interpreted as excusing any Grantor from the
performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other
encumbrances and maintenance as set forth herein or in the other Loan Documents. 
 (e) Each Grantor (rather than the Collateral
Agent or any Secured Party) shall remain liable (as between itself and any relevant counterparty) to observe and perform all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to
the Article 9 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. 
  

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 SECTION 3.04. Other Actions. In order to further insure the attachment, perfection
and priority of, and the ability of the Collateral Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral:

 (a) Instruments. If any Grantor shall at any time hold or acquire any Instruments constituting
Collateral and evidencing an amount in excess of $10,000,000, such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent for the benefit of the applicable Secured Parties, accompanied by such instruments of transfer or
assignment duly executed in blank as the Collateral Agent may from time to time reasonably request. 
 (b)
Investment Property. Except to the extent otherwise provided in Article II, if any Grantor shall at any time hold or acquire any certificated securities, such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent
for the benefit of the applicable Secured Parties, accompanied by such instruments of transfer or assignment duly executed in blank as the Collateral Agent may from time to time reasonably request. If any securities now or hereafter acquired by any
Grantor are uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, upon the Collateral Agent’s request and following the occurrence of an Event of Default such Grantor shall promptly notify the Collateral
Agent thereof and, at the Collateral Agent’s reasonable request, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, either (i) cause the issuer to agree to comply with instructions from the
Collateral Agent as to such securities, without further consent of any Grantor or such nominee, or (ii) arrange for the Collateral Agent to become the registered owner of the securities. If any securities, whether certificated or
uncertificated, or other investment property are held by any Grantor or its nominee through a securities intermediary or commodity intermediary, upon the Collateral Agent’s request following the occurrence of an Event of Default, such Grantor
shall immediately notify the Collateral Agent thereof and at the Collateral Agent’s request and option, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent shall either (i) cause such securities
intermediary or (as the case may be) commodity intermediary to agree to comply with entitlement orders or other instructions from the Collateral Agent to such securities intermediary as to such security entitlements, or (as the case may be) to apply
any value distributed on account of any commodity contract as directed by the Collateral Agent to such commodity intermediary, in each case without further consent of any Grantor or such nominee, or (ii) in the case of financial assets or other
Investment Property held through a securities intermediary, arrange for the Collateral Agent to become the entitlement holder with respect to such Investment Property, with the Grantor being permitted, only with the consent of the Collateral Agent,
to exercise rights to withdraw or otherwise deal with such Investment Property. The Collateral Agent agrees with 
  

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each of the Grantors that the Collateral Agent shall not give any such entitlement orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and
shall not withhold its consent to the exercise of any withdrawal or dealing rights by any Grantor, unless an Event of Default has occurred and is continuing. The provisions of this paragraph shall not apply to any financial assets credited to a
securities account for which the Collateral Agent is the securities intermediary. 
 (c) Commercial Tort
Claims. If any Grantor shall at any time hold or acquire a Commercial Tort Claim in an amount reasonably estimated by such Grantor to exceed $10,000,000 and for which a complaint in a court of competent jurisdiction has been filed (or with
respect to which such Grantor’s affirmative intent to file such a complaint or to settle the claim absent court proceeding has been documented in writing to the obligor of such claim), the Grantor shall promptly notify the Collateral Agent
thereof in a writing signed by such Grantor including a summary description of such claim and grant to the Collateral Agent, for the benefit of the Secured Parties, in such writing a security interest therein and in the proceeds thereof, all upon
the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Collateral Agent. 

(d) Letter-of-Credit Rights. If any Grantor is at any time a beneficiary under a Letter of Credit now or hereafter
issued, such Grantor shall promptly notify the Collateral Agent thereof and such Grantor shall, at the request of the Collateral Agent, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, either
(i) arrange for the issuer and any confirmer of such Letter of Credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under the Letter of Credit or (ii) arrange for the Collateral Agent to become the
transferee beneficiary of such Letter of Credit, with the Collateral Agent agreeing, in each case, that, during the continuance of an Event of Default, upon the Collateral Agent’s election, the proceeds of any drawing under the Letter of Credit
are to be applied as provided in the Credit Agreement. The actions in the preceding sentence shall not be required to the extent that the amount of any such Letter of Credit does not exceed $10,000,000. 

ARTICLE IV 

Remedies 

SECTION 4.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, it is agreed that the
Collateral Agent shall have the right to exercise any and all rights afforded to a secured party with respect to the Secured Obligations under the Uniform Commercial Code or other applicable law and also may (i) require each Grantor to, and
each Grantor agrees that it will at its expense and upon request of the Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place and time to be
designated by the Collateral Agent that is reasonably convenient to 
  

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both parties; (ii) occupy any premises owned or, to the extent lawful and permitted, leased by any of the Grantors where the Collateral or any part thereof is assembled or located for a
reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to such Grantor in respect of such occupation; provided that the Collateral Agent shall provide the applicable Grantor with notice
thereof prior to or promptly after such occupancy; (iii) exercise any and all rights and remedies of any of the Grantors under or in connection with the Collateral, or otherwise in respect of the Collateral; provided that the Collateral
Agent shall provide the applicable Grantor with notice thereof prior to or promptly after such exercise; and (iv) subject to the mandatory requirements of applicable law and the notice requirements described below, sell or otherwise dispose of
all or any part of the Collateral securing the Secured Obligations at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Agent shall deem appropriate.
The Collateral Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and agree that they are purchasing the Collateral for their
own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the
Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of
redemption, stay 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. 

The Collateral Agent shall give the applicable Grantors 10 days’ written notice (which each Grantor agrees is reasonable notice
within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and
place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will first be offered
for sale at such board or exchange. Any such 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 (if any) of such sale. At any such sale,
the Collateral, or portion thereof, to 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. The Collateral Agent shall not be obligated to make any sale of
any Collateral if it shall determine not to do so, regardless of the fact that notice of sale 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. In case any sale of all or any part of the Collateral
is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any liability in case any such
purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold 

 

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again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Party may bid for or purchase, free (to the extent permitted
by law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), 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 such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such
property without further accountability to any Grantor therefor. 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. 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 this
Agreement 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. Any sale pursuant to the provisions of this
Section 4.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

Each Grantor 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) during the continuance of an Event of Default and after notice to the U.S. Borrower of its intent to exercise such rights, for the purpose of (i) making,
settling and adjusting claims in respect of Article 9 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 if insurance,
(ii) making all determinations and decisions with respect thereto and (iii) obtaining or maintaining the policies of insurance required by Section 6.07 of the Credit Agreement or to pay any premium in whole or in part relating
thereto. All sums disbursed by the Collateral Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, within 10 days of demand, by the Grantors
to the Collateral Agent and shall be additional Secured Obligations secured hereby. 
 SECTION 4.02. Application of
Proceeds. (a) The Collateral Agent shall apply the proceeds of any collection or sale of Collateral, including any Collateral consisting of cash, in the order provided for in Section 8.04 of the Credit Agreement. 

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 of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a
sufficient discharge to the purchaser or 
  

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purchasers of the Collateral so sold 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. 
 (b) In making the determination and allocations required
by this Section 4.02, the Collateral Agent may conclusively rely upon information supplied by the Administrative Agent as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the Secured Obligations, and
the Collateral Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information, provided that nothing in this sentence shall prevent any Grantor from contesting any amounts claimed by any Secured
Party in any information so supplied. All distributions made by the Collateral Agent pursuant to this Section 4.02 shall be (subject to any decree of any court of competent jurisdiction) final (absent manifest error), and the Collateral Agent
shall have no duty to inquire as to the application by the Administrative Agent of any amounts distributed to it. 
 ARTICLE V

 Indemnity, Subrogation and Subordination 

SECTION 5.01. Indemnity. In addition to all such rights of indemnity and subrogation as the Grantors may have under applicable law
(but subject to Section 5.03), the U.S. Borrower agrees that, in the event any assets of any Grantor shall be sold pursuant to this Agreement or any other Collateral Document to satisfy in whole or in part an obligation owed to any Secured
Party, the U.S. Borrower shall indemnify such Grantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 

SECTION 5.02. Contribution and Subrogation. Each Grantor other than the U.S. Borrower (a “Contributing Party”)
agrees (subject to Section 5.03) that, in the event assets of any other Grantor other than the U.S. Borrower shall be sold pursuant to any Collateral Document to satisfy any Secured Obligation owed to any Secured Party and such other Grantor
(the “Claiming Party”) shall not have been fully indemnified by the U.S. Borrower as provided in Section 5.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the
fair market value of such assets, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Contributing Parties
together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 6.14, the date of the Security Agreement Supplement hereto executed and delivered by such Grantor).
Any Contributing Party making any payment to a Claiming Party pursuant to this Section 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment. 

 

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 SECTION 5.03. Subordination. (a) Notwithstanding any provision of this Agreement
to the contrary, all rights of the Grantors under Sections 5.01 and 5.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of
the Secured Obligations. No failure on the part of any Borrower or any Grantor to make the payments required by Sections 5.01 and 5.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations
and liabilities of any Grantor with respect to its obligations hereunder, and each Grantor shall remain liable for the full amount of the obligations of such Grantor hereunder. 

(b) Each Grantor hereby agrees that upon the occurrence and during the continuance of an Event of Default and after notice from the
Collateral Agent all Indebtedness owed to it by any Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the Secured Obligations. 

ARTICLE VI 

Miscellaneous 

SECTION 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 10.02 of the Credit Agreement. All communications and notices hereunder to any Grantor other than the U.S. Borrower shall be given to it in care of the U.S. Borrower as provided in Section 10.02 of
the Credit Agreement. 
 SECTION 6.02. Waivers; Amendment. (a) No failure or delay by any Secured Party in
exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Secured Parties hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or
remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this
Section 6.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall
not be construed as a waiver of any Default, regardless of whether any Secured Party may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party 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 an agreement or agreements in writing entered into by the Collateral Agent and the Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent
required in accordance with Section 10.01 of the Credit Agreement. 
  

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 SECTION 6.03. Collateral Agent’s Fees and Expenses; Indemnification.
(a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 10.04 of the Credit Agreement. 

(b) Without limitation of its indemnification obligations under the other Loan Documents, the U.S. Borrower agrees to indemnify the
Collateral Agent and the other Indemnitees (as defined in Section 10.05 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable
fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or performance of this Agreement or any claim,
litigation, investigation or proceeding relating to any of the foregoing or any agreement or instrument contemplated hereby, or to the Collateral, whether or not any Indemnitee is a party thereto; provided 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 by final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee or of any Affiliate, director, officer, employee, counsel, agent or attorney-in-fact of such Indemnitee. 

(c) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Collateral
Documents. The provisions of this Section 6.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the
repayment of any of the Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All
amounts due under this Section 6.03 shall be payable within 10 days of written demand therefor. 
 SECTION 6.04.
Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on
behalf of any Grantor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. 

SECTION 6.05. Survival of Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in the
Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Secured Parties and shall survive the
execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any Secured Party or on its behalf and notwithstanding that any Secured Party 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 as long as the principal of or any accrued

  

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interest on any Loan or any fee or any other amount payable under any Loan Document is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not
expired or terminated. 
 SECTION 6.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in
counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of
a manually signed counterpart of this Agreement. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof
shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the
Collateral Agent and the other Secured Parties and their respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any
such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Loan Party and may be amended, modified,
supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 

SECTION 6.07. 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. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION
6.08. Right of Set-Off. In addition to any rights and remedies of the Secured Parties provided by Law and the Credit Agreement, upon the occurrence and during the continuance of any Event of Default, each Secured Party and its Affiliates is
authorized at any time and from time to time, without prior notice to the U.S. Borrower or any other Loan Party, any such notice being waived by the U.S. Borrower and each Loan Party to the fullest extent permitted by applicable Law, to set off and
apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Secured Party and its Affiliates to or for the credit or the account of the respective Loan
Parties against any and all obligations owing to such Secured Party and its Affiliates hereunder, now or hereafter existing, irrespective of whether or not such Secured Party or Affiliate shall have made demand under this Agreement and although such
obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness. Each Secured Party agrees promptly to notify the U.S. Borrower and the Collateral Agent

  

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after any such set off and application made by such Secured Party; provided, that the failure to give such notice shall not affect the validity of such setoff and application. The rights
of each Secured Party under this Section 6.08 are in addition to other rights and remedies (including other rights of setoff) that such Secured Party may have. 

SECTION 6.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance
with and governed by the law of the State of New York. 
 (b) Each of the Loan Parties hereby irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York City and of the United States District Court of the Southern District of New York, and any appellate court from
any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto 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 or any other Loan Document shall affect any right that any Secured Party may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Grantor or its properties in the courts of any jurisdiction. 

(c) Each of the Loan Parties hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so,
any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this
Section 6.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 6.01.
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 6.10. 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). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT 

 

 21 

 
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 
 SECTION 6.11.
Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting,
this Agreement. 
 SECTION 6.12. Security Interest Absolute. Except as otherwise set forth herein regarding the
obligations of the Third Party Pledgor, all rights of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Pledged Collateral and all obligations of each Grantor 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 any 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. 

SECTION 6.13. Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted
hereby shall terminate with respect to all Secured Obligations when all the outstanding Secured Obligations have been paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been
reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement. 

(b) A Grantor (other than the U.S. Borrower) shall automatically be released from its obligations hereunder and the Security Interest in
the Collateral of such Grantor shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Grantor ceases to be a Subsidiary of VNUHF or is otherwise no longer required to be a
Grantor hereunder; provided that the Required Lenders shall have consented to such transaction (to the extent required by the Credit Agreement) and the terms of such consent did not provide otherwise. 

(c) Upon any sale or other transfer by any Grantor of any Collateral (other than any transfer of Collateral to another Grantor) that is
permitted under the Credit Agreement, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 10.01 of the Credit Agreement, the security interest in such
Collateral shall be automatically released. 
  

 22 

 (d) In connection with any termination or release pursuant to paragraph (a),
(b) or (c), the Collateral Agent shall execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents
pursuant to this Section 6.13 shall be without recourse to or warranty by the Collateral Agent. 
 SECTION 6.14.
Additional Restricted Subsidiaries. Pursuant to Section 6.11 of the Credit Agreement, certain Restricted Subsidiaries of the Loan Parties that were not in existence or not Restricted Subsidiaries on the date of the Credit Agreement are
required to enter in this Agreement as a Grantor upon becoming Restricted Subsidiaries. Upon execution and delivery by the Collateral Agent and a Restricted Subsidiary of a Security Agreement Supplement, such Restricted Subsidiary shall become a
Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan
Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement. 

SECTION 6.15. Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby appoints the Collateral Agent the attorney-in-fact
of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof at any time after and
during the continuance of an Event of Default, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, the Collateral Agent shall have the right, upon the occurrence and during the continuance
of an Event of Default and notice by the Collateral Agent to the U.S. Borrower of its intent to exercise such rights, with full power of substitution either in the Collateral Agent’s name or in the name of such Grantor (a) to receive,
endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give
discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) to send verifications of Accounts to any Account Debtor; (e) to
commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral;
(f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) to notify, or to require any Grantor to notify, Account Debtors to make payment directly to the
Collateral Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement,
as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any

  

 23 

 
commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any action with respect to
the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of the
exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful
misconduct or that of any of their Affiliates, directors, officers, employees, counsel, agents or attorneys-in-fact. 
 SECTION
6.16. General Authority of the Collateral Agent. By acceptance of the benefits of this Agreement and any other Collateral Documents, each Secured Party (whether or not a signatory hereto) shall be deemed irrevocably (a) to consent to the
appointment of the Collateral Agent as its agent hereunder and under such other Collateral Documents, (b) to confirm that the Collateral Agent shall have the authority to act as the exclusive agent of such Secured Party for the enforcement of
any provisions of this Agreement and such other Collateral Documents against any Grantor, the exercise of remedies hereunder or thereunder and the giving or withholding of any consent or approval hereunder or thereunder relating to any Collateral or
any Grantor’s obligations with respect thereto, (c) to agree that it shall not take any action to enforce any provisions of this Agreement or any other Collateral Document against any Grantor, to exercise any remedy hereunder or thereunder
or to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement or any other Collateral Document and (d) to agree to be bound by the terms of this Agreement and any other Collateral Documents.

 SECTION 6.17. Miscellaneous. 

(a) The Collateral Agent may execute any of the powers granted under this Agreement and perform any duty hereunder either directly or by
or through agents or attorneys-in-fact, and shall not be responsible for the gross negligence or willful misconduct of any agents or attorneys-in-fact selected by it with reasonable care and without gross negligence or willful misconduct.

 (b) The Collateral Agent shall not be deemed to have actual, constructive, direct or indirect notice or knowledge of the
occurrence of any Event of Default unless and until the Collateral Agent shall have received a notice of Event of Default or a notice from the Grantor or the Secured Parties to the Collateral Agent in its capacity as Collateral Agent indicating that
an Event of Default has occurred. The Collateral Agent shall have no obligation either prior to or after receiving such notice to inquire whether an Event of Default has, in fact, occurred and shall be entitled to rely conclusively, and shall be
fully protected in so relying, on any notice so furnished to it. 
 (c) Any obligation, guarantee or undertaking granted or
assumed by the Third Party Pledgor pursuant to this Agreement shall be subject to the limitations set forth in Section 11.11 of the Credit Agreement. 
  

 24 

 (Remainder of page intentionally left blank) 

 

 25 

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

			
	NIELSEN FINANCE LLC,
		
	By	 	 /s/ Authorized Signatory

	Name:	 	
	Title:	 	
	
	GRANTORS,
		
	 By
	 	 /s/ Authorized Signatories

	 Name:
	 	
	 Title:
	 	
	
	 /s/ Authorized Signatory

	VNU INTERNATIONAL B.V.
	 (as a Grantor subject to the limitations set

forth herein)

  

 26 

			
	 CITIBANK, N.A., as

Collateral Agent,

		
	by	 	 /s/ Authorized Signatory

	Name:	 	
	Title:	 	

  

 27 

 Schedule I to 

the Security Agreement 

EQUITY INTERESTS 
  

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	 A.C. Nielsen (Argentina) S.A.
	  	Delaware	  	A.C. Nielsen Company, LLC	  	Delaware	  	1/2	  	200/9,800	  	100
	 A.C. Nielsen (Dublin) Limited
	  	Ireland	  		  		  	N/A	  	N/A	  	100
	 A.C. Nielsen Chile Limitada
	  	Chile	  		  		  	N/A	  	N/A	  	50.6
	 A.C. Nielsen de Colombia Ltda.
	  	Colombia	  		  		  	N/A	  	N/A	  	0.0001
	 AC Nielsen El Salvador, S.A. de C.V.
	  	El Salvador	  		  		  	N/A	  	N/A	  	5
	 ACNielsen (Singapore) Pte. Ltd.
	  	Singapore	  		  		  	N/A	  	N/A	  	100
	 ACNielsen (Tanzania) Ltd.
	  	Tanzania	  		  		  	N/A	  	N/A	  	1
	 ACNielsen eRatings.com
	  	Delaware	  		  		  		  	100	  	100
	 ACNielsen Honduras S.A. de C.V.
	  	Honduras	  		  		  	N/A	  	N/A	  	0.4
	 ACNielsen Marketing Research India Private Limited
	  	India	  		  		  	N/A	  	N/A	  	0.01
	 ACNielsen Nicaragua, S.A.
	  	Nicaragua	  		  		  	N/A	  	N/A	  	2
	 ACNielsen Pakistan (Private) Limited
	  	Pakistan	  		  		  	N/A	  	N/A	  	0.1
	 ACNielsen SA
	  	Switzerland	  		  		  	N/A	  	N/A	  	99.75
	 ART Holding, L.L.C.
	  	Delaware	  		  		  	1	  	501	  	100
	 CZT/ACN Trademarks, L.L.C.
	  	Delaware	  		  		  	N/A	  	N/A	  	50
	 EMIS (Canada), LLC
	  	Delaware	  		  		  	N/A	  	N/A	  	100
	 Neslein Holding (Spain) C.V.
	  	Netherlands	  		  		  	N/A	  	N/A	  	98
	 NetCrawling UK Limited
	  	United Kingdom	  		  		  	N/A	  	N/A	  	100
	 Nielsen Coöperatie W.A.
	  	Netherlands	  		  		  	N/A	  	N/A	  	99
	 Nielsen General Partner B.V.
	  	Netherlands	  		  		  	N/A	  	N/A	  	100

  

 1 

 Schedule I to 

the Security Agreement 
  

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	 Nielsen Leasing Corporation
	  	Delaware	  	A.C. Nielsen Company, LLC	  	Delware	  	A-2	  	100	  	100
	 The Nielsen Company (US), LLC.
	  	Delaware	  		  		  	2	  	1000	  	100
	 Interactive Network, Inc.
	  	California	  		  		  	N/A	  	N/A	  	0.36
	 GQ Denver Property, L.L.C.
	  	Delaware	  		  		  	N/A	  	N/A	  	17.89
	 Interactive Data Corporation
	  	Delaware	  		  		  	N/A	  	N/A	  	0.06
	 NONSTOP Solutions, Incorporated
	  	California	  		  		  	N/A	  	N/A	  	0.7
	 Market Simulations, Inc.
	  	Delaware	  		  		  	N/A	  	N/A	  	20
	 ACNielsen Corporation
	  	Delaware	  	ACN Holdings Inc.	  	Delaware	  	3	  	100	  	100
	 Nielsen Finance LLC
	  	Delaware	  		  		  	N/A	  	N/A	  	100
	 A.C. Nielsen Company, LLC
	  	Delaware	  	ACNielsen Corporation	  	Delaware	  	3	  	1000	  	100
	 A.C. Nielsen, SRL de C.V.
	  	Mexico	  		  		  	N/A	  	N/A	  	0.01
	 ACNielsen (Israel) Ltd.
	  	Israel	  		  		  	N/A	  	N/A	  	100
	 ACNielsen Holdings Limited
	  	Hong Kong	  		  		  	N/A	  	N/A	  	95.998
	 ACNielsen Marketing Research
India Private Limited
	  	India	  		  		  	N/A	  	N/A	  	99.99
	 ACNielsen S.A.
	  	Greece	  		  		  	N/A	  	N/A	  	0.00062
	 Naviant France Sarl.
	  	France	  		  		  	N/A	  	N/A	  	0.00000152
	 Neslein Holding, L.L.C.
	  	Delaware	  		  		  	N/A	  	100	  	100
	 Nielsen Government and Public Sector, Inc.
	  	California	  		  		  	4	  	1,000	  	100
	 The Nielsen Company (Management Services -HK) Limited
	  	Hong Kong	  		  		  	N/A	  	N/A	  	0.00000152
	 Percipient Inc. (merged with Efficient Market Services, Inc.)
	  	Delaware	  	ACNielsen Corporation	  	Delaware	  	N/A	  	N/A	  	6.4

  

 2 

 Schedule I to 

the Security Agreement 
  

													
	 Issuer
	  	 Issuer’s
Jurisdiction
	  	 Holder
	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	 MediaMetrie Netratings SAS
	  	France	  	ACNielsen eRatings.com	  	Delaware	  	N/A	  	N/A	  	66
	 NetRatings Japan
	  	Japan	  		  		  	N/A	  	N/A	  	45.3
	 IBOPE eRatings.com
	  	Cayman Islands	  		  		  	N/A	  	N/A	  	49
	 Neslein Holding (Spain) C.V.
	  	Netherlands	  	ART Holding, L.L.C.	  	Delaware	  	N/A	  	N/A	  	1
	 Nielsen Coöperatie W.A.
	  	Netherlands	  		  		  	N/A	  	N/A	  	1
	 Foremost Exhibits, Inc.
	  	Nevada	  	MFI Holdings, Inc.	  	Delaware	  	1	  	l00	  	100
	 Netratings (Shanghai) Company, Ltd.
	  	China	  	NetRatings, LLC	  	Delaware	  	N/A	  	N/A	  	l00
	 Netvalue Internet Measurement S.A.
	  	Spain	  		  		  	N/A	  	N/A	  	100
	 NTRT Eratings India Private Limited
	  	India	  		  		  	N/A	  	N/A	  	100
	 GlanceGuide, Inc.
	  	California	  		  		  	N/A	  	N/A	  	33
	 Nielsen Business Media, Inc.
	  	Delaware	  	Nielsen Business Media Holding Company	  	Delaware	  	3	  	1,000	  	100
	 VNU Business Media Argentina S.A.
	  	Argentina	  		  		  	N/A	  	N/A	  	5
	 Advertising Center, Inc.
	  	California	  	Nielsen Business Media, Inc.	  	Delaware	  	16,17	  	1,350	  	90
	 Billboard Cafes, Inc.
	  	Delaware	  		  		  	1	  	100	  	100
	 MFI Holdings, Inc.
	  	Delaware	  		  		  	1,2	  	200	  	100
	 POC, Inc.
	  	New York	  		  		  	4	  	8	  	100
	 Showeast, LLC
	  	New York	  		  		  	N/A	  	N/A	  	94
	 VNU Business Media Argentina S.A.
	  	Argentina	  		  		  	N/A	  	N/A	  	95
	 SportsOneSource, L.L.C.
	  	Delaware	  		  		  	N/A	  	N/A	  	16.666
	 Nielsen Escrow Co.
	  	Delaware	  	Nielsen Finance Co.	  	Delaware	  	N/A	  	N/A	  	100
	 Nielsen Escrow LLC
	  	Delaware	  	Nielsen Finance LLC	  	Delaware	  	N/A	  	N/A	  	100
	 Nielsen Finance Co.
	  	Delaware	  		  		  	2	  	1,000	  	100

  

 3 

 Schedule I to 

the Security Agreement 
  

													
	 Issuer
	  	 Issuer’s
Jurisdiction
	  	 Holder
	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	 	Percent
Owned
	 RewardTV, Inc.
	  	Delaware	  	Nielsen 1AG, Inc.	  	Delaware	  	SC-1	  	100	 	100
	 NMR Licensing Associates LP
	  	Delaware	  	NMR Investing I, Inc.	  	Delaware	  	N/A	  	N/A	 	1.689
	 Nielsen Business Media
Holding Company
	  	Delaware	  	The Nielsen Company (US), LLC	  	Delaware	  	1	  	10	 	100
	 Athenian Leasing Corporation
	  	Delaware	  		  		  	5	  	1,000	 	100
	 CZT/ACN Trademarks, L.L.C.
	  	Delaware	  		  		  	N/A	  	50%	 	50
	 NetRatings, LLC.
	  	Delaware	  		  		  	N/A	  	N/A	 	100
	 Nielsen EDI Limited
	  	United Kingdom	  		  		  	N/A	  	N/A	 	1
	 Nielsen 1AG, Inc.
	  	Delaware	  		  		  	N/A	  	N/A	 	100
	 Nielsen Media Research Limited
	  	Canada	  		  		  	N/A	  	N/A	 	99.9995
	 Nielsen Mobile, LLC
	  	Delaware	  		  		  	1	  	1,000	 	100
	 Nielsen National Research Group, Inc.
	  	California	  		  		  	1	  	1,000	 	100
	 NMR Investing I, Inc.
	  	Delaware	  		  		  	2	  	100	 	100
	 NMR Licensing Associates LP
	  	Delaware	  		  		  	N/A	  	N/A	 	98.311
	 Scarborough Research
	  	Delaware	  		  		  	N/A	  	50.5	 	50.5
	 Strategic Mapping, Inc.
	  	California	  		  		  	1	  	100	 	100
	 VNU Marketing Information, Inc.
	  	Delaware	  	The Nielsen Company (US), LLC	  	Delaware	  	CB-1	  	5	 	5
	 Buzzmetrics, Ltd.
	  	Israel	  	TNC (US) Holdings, Inc.	  	New York	  	N/A	  	N/A	 	8.87
	 VNU Marketing Information, Inc.
	  	Delaware	  		  		  	CA-1	  	95	 	95
	 Neurofocus, Inc.
	  	California	  		  		  	N/A	  	N/A	 	30
	 ACN Holdings Inc.
	  	Delaware	  	 VNU Marketing Information, Inc.
	  	Delaware	  	2	  	100	 	100
	 SportsOneSource, L.L.C.
	  	Delaware	  		  		  	N/A	  	N/A	 	16.666
	 HCIA Holding, LLC
	  	Delaware	  		  		  	N/A	  	N/A	 	34.884

  

 4 

 Schedule I to 

the Security Agreement 

DEBT SECURITIES 

Global Intercompany Note dated as of August 9, 2006 between each of the Companies, as the same has been supplemented from time to time. 

 

 5 

 Exhibit I to the 

Security Agreement 

SUPPLEMENT NO.      dated as of [—], (this
“Supplement”) to the Security Agreement dated as of August 9, 2006 and amended and restated as of June 23, 2009, among NIELSEN FINANCE LLC (“U.S. Borrower”), the other Grantors identified therein and
CITIBANK, N.A., as Collateral Agent for the First Lien Secured Parties. 
 A. Reference is made to the Credit Agreement dated as
of August 9, 2006, as amended January 22,2007, as further amended August 9, 2007 and as amended and restated as of June 23,2009 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the U.S. Borrower, Nielsen Holding and Finance B.V. (formerly known as VNU Holding and Finance B.V.), TNC (US) Holdings Inc. (formerly known as VNU, Inc.), the Guarantors party thereto from time to time, the lenders and
other parties thereto from time to time and Citibank, N.A., as Administrative Agent, Swing Line Lender and an LlC Issuer, each Lender from time to time party thereto, Deutsche Bank Securities Inc., as Syndication Agent, and JPMorgan Chase Bank,
N.A., ABN AMRO Bank N.V. and ING Bank N.V. as Co-Documentation Agents. 
 B. Capitalized terms used herein and not otherwise
defmed herein shall have the meanings assigned to such terms in the Credit Agreement and the Security Agreement referred to therein. 

C. The Grantors have entered into the Security Agreement in order to induce the Lenders to make Loans and the LlC Issuers to issue
Letters of Credit and to induce the providers under each Permitted Debt Offering Agreement to extend credit. Section 6.14 of the Security Agreement and/or the equivalent provision of any other Permitted Debt Offering Agreement provides that
additional Restricted Subsidiaries may become Grantors under the Security Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Restricted Subsidiary (the “New Subsidiary”) is executing
this Supplement in accordance with the requirements of the Credit Agreement to become a Grantor under the Security Agreement in order to induce the Lenders to make additional Loans and the LlC Issuers to issue additional Letters of Credit and as
consideration for Loans previously made and Letters of Credit previously issued and to induce the holders of any Permitted Debt Offering Obligations to make their respective extensions of credit thereunder. 

Accordingly, the Collateral Agent and the New Subsidiary agree as follows: 

SECTION 1. In accordance with Section 6.14 of the Amended and Restated Security Agreement, the New Subsidiary by its signature below
becomes a Grantor under the Security Agreement with the same force and effect as if originally named therein as a Grantor and the New Subsidiary hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it as a
Grantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, the New Subsidiary, as security
for the payment and performance in full of the First Lien Obligations does hereby create and grant to the Collateral Agent, its 

 successors and assigns, for the benefit of the First Lien Secured Parties, their successors and assigns, a
security interest in and lien on all of the New Subsidiary’s right, title and interest in and to the Collateral (as defined in the Security Agreement) of the New Subsidiary. Each reference to a “Grantor” in the Security Agreement
shall be deemed to include the New Subsidiary. The Security Agreement is hereby incorporated herein by reference. 
 SECTION 2.
The New Subsidiary represents and warrants to the Collateral Agent and the other First Lien Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms. 
 SECTION 3. This Supplement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Collateral Agent shall have
received a counterpart of this Supplement that bears the signature of the New Subsidiary and the Collateral Agent has executed a counterpart hereof Delivery of an executed signature page to this Supplement by facsimile transmission shall be as
effective as delivery of a manually signed counterpart of this Supplement. 
 SECTION 4. The New Subsidiary hereby represents
and warrants that (a) set forth on Schedule I attached hereto is a true and correct schedule of the location of any and all Collateral of the New Subsidiary and (b) set forth under its signature hereto is the true and correct legal name of
the New Subsidiary, its jurisdiction of formation and the location of its chief executive office. 
 SECTION 5. Except as
expressly supplemented hereby, the Security Agreement shall remain in full force and effect. 
 SECTION 6. THIS SUPPLEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. In case anyone or
more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Security Agreement shall not in
any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties hereto
shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

 SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 6.01 of the
Security Agreement. 
 SECTION 9. The New Subsidiary agrees to reimburse the Collateral Agent for its reasonable out-of-pocket
expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Agent. 
  

 -2- 

 IN WITNESS WHEREOF, the New Subsidiary and the Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written. 
  

			
	 [NAME OF NEW SUBSIDIARY],

		
	By:	 	  

		 	Name:
		 	Title:
		
		 	Legal Name:
		 	Jurisdiction of Formation:
		 	Location of Chief Executive office:
	
	 CITIBANK, N.A.,
 as
Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

 -3- 

 Schedule I 

to the Supplement No     to the 

Security Agreement 

LOCATION OF COLLATERAL 
  

			
	 Description
	  	 Location

 
 EQUITY INTERESTS 

 

									
	 Issuer
	  	 Number of

Certificate
	  	 Registered

Owner
	  	 Number and

Class of

Equity Interests
	  	 Percentage

of Equity Interests

 
 DEBT SECURITIES 

 

							
	 Issuer
	  	 Principal

Amount
	  	 Date of Note
	  	 Maturity Date

 ANNEX A 

[Form of] 
 FIRST
LIEN SECURED PARTY CONSENT 
 [Name of First Lien Secured Party] 

[Address of First Lien Secured Party] 
 [Date]

 The undersigned is the Authorized Representative for Persons wishing to become First Lien Secured Parties (the “New
Secured Parties”) under (i) the Amended and Restated Security Agreement dated as of August 9, 2006 and amended and restated as of June 23, 2009, among Nielsen Finance LLC, the other Grantors identified therein and Citibank,
N.A., as Collateral Agent for the First Lien Secured Parties (as heretofore amended and/or supplemented, the “Security Agreement” (terms used without definition herein have the meanings assigned to such term by the Security
Agreement)): 
 (i) represents that the Authorized Representative has been duly authorized by the New Secured
Parties to become a party to the Security Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured
Parties; 
 (ii) acknowledges that the New Secured Parties have received a copy of the Security Agreement and the
Intercreditor Agreement; 
 (iii) appoints and authorizes the Collateral Agent to take such action as agent on
its behalf and on behalf of all other First Lien Secured Parties and to exercise such powers under the Security Agreement and the Intercreditor Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as
are reasonably incidental thereto; 
 (iv) accepts and acknowledges the terms of the Intercreditor Agreement
applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound
by the terms thereof applicable to holders of Permitted Debt Offering Obligations, with all the rights and obligations of a First Lien Secured Party thereunder and bound by all the provisions thereof (including, without limitation,
Section 2.02(b) thereof) as fully as if it had been a First Lien Secured Party on the effective date of the Intercreditor Agreement and agrees that its address for receiving notices pursuant to the Security Agreement and the First Lien Security
Documents (as defined in the Intercreditor Agreement) shall be as follows: 
 [Address] 

 [(v) elects to make the Permitted Debt Offering Obligations for which it is the Authorized
Representative be subject to Section 3.1 (d) of the Security Agreement.] 
 The Collateral Agent, by acknowledging
this First Lien Secured Party Consent, accepts the appointment set forth in clause (iii) above. 
 THIS FIRST LIEN SECURED
PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

IN WITNESS WHEREOF, the undersigned has caused this First Lien Secured Party Consent to be duly executed by its authorized officer as of
the      day of 20    . 
  

			
	 [NAME OF AUTHORIZED REPRESENTATIVE]

		
	By:	 	  

		 	Name:
		 	Title:

 Acknowledged and Agreed 

CITIBANK, N.A., 
 as Collateral Agent 

 

			
	 By:
	 	  

		 	Name:
		 	Title:

 NIELSEN FINANCE LLC, a Delaware limited liability
company 
 The Grantors listed on Schedule I to the Security Agreement, 

each as Grantor 
  

			
	 By:
	 	  

		 	Name:
		 	Title:

  

 -2-Senior Secured Loan Agreement, dated as of June 8, 2009

 Exhibit 4.1(g) 

EXECUTION VERSION 
  

 
  

SENIOR SECURED LOAN AGREEMENT 

Dated as of June 8, 2009 

among 
 NIELSEN
FINANCE LLC 
 as Borrower, 

THE GUARANTORS PARTY HERETO FROM TIME TO TIME 

GOLDMAN SACHS LENDING PARTNERS LLC, 

as Administrative Agent, 

and 
 THE OTHER
LENDERS PARTY HERETO FROM TIME TO TIME 
 GOLDMAN SACHS LENDING PARTNERS LLC 

as Sole Lead Arranger 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
	ARTICLE I.
	DEFINITIONS AND ACCOUNTING TERMS
			
	 Section 1.01
	  	Defined Terms.	  	1
	 Section 1.02
	  	Other Interpretive Provisions.	  	45
	 Section 1.03
	  	Accounting Terms.	  	46
	 Section 1.04
	  	Rounding.	  	46
	 Section 1.05
	  	References to Agreements, Laws, Etc.	  	47
	 Section 1.06
	  	Times of Day.	  	47
	 Section 1.07
	  	Timing of Payment of Performance.	  	47
	
	ARTICLE II.
	THE COMMITMENTS AND BORROWINGS
			
	 Section 2.01
	  	The Loans.	  	47
	 Section 2.02
	  	Borrowings of Loans.	  	47
	 Section 2.03
	  	[Reserved.]	  	48
	 Section 2.04
	  	[Reserved.]	  	48
	 Section 2.05
	  	Prepayments.	  	48
	 Section 2.06
	  	Termination of Commitments.	  	54
	 Section 2.07
	  	Repayment of Loans.	  	54
	 Section 2.08
	  	Interest.	  	54
	 Section 2.09
	  	Fees.	  	55
	 Section 2.10
	  	Computation of Interest and Fees.	  	55
	 Section 2.11
	  	Evidence of Indebtedness.	  	55
	 Section 2.12
	  	Payments Generally.	  	56
	 Section 2.13
	  	Sharing of Payments.	  	57
	
	ARTICLE III.
	TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY
			
	 Section 3.01
	  	Taxes.	  	58
	 Section 3.02
	  	[Reserved.]	  	60
	 Section 3.03
	  	[Reserved.]	  	60
	 Section 3.04
	  	Increased Cost and Reduced Return; Capital Adequacy.	  	60
	 Section 3.05
	  	[Reserved.]	  	61
	 Section 3.06
	  	Matters Applicable to All Requests for Compensation.	  	61
	 Section 3.07
	  	Replacement of Lenders under Certain Circumstances.	  	61
	 Section 3.08
	  	Survival.	  	63
	
	ARTICLE IV.
	CONDITIONS PRECEDENT
			
	 Section 4.01
	  	Conditions Precedent.	  	63

  

 -i- 

					
	 	  	 	  	Page
	ARTICLE V.
	REPRESENTATIONS AND WARRANTIES
			
	 Section 5.01
	  	Existence, Qualification and Power; Compliance with Laws.	  	65
	 Section 5.02
	  	Authorization; No Contravention.	  	65
	 Section 5.03
	  	Governmental Authorization; Other Consents.	  	65
	 Section 5.04
	  	Binding Effect.	  	66
	 Section 5.05
	  	Financial Statements; No Material Adverse Effect.	  	66
	 Section 5.06
	  	Litigation.	  	67
	 Section 5.07
	  	No Default.	  	67
	 Section 5.08
	  	Ownership of Property; Liens.	  	67
	 Section 5.09
	  	Environmental Compliance.	  	67
	 Section 5.10
	  	Taxes.	  	68
	 Section 5.11
	  	ERISA Compliance.	  	69
	 Section 5.12
	  	Subsidiaries; Equity Interests.	  	69
	 Section 5.13
	  	Margin Regulations; Investment Company Act.	  	69
	 Section 5.14
	  	Disclosure.	  	70
	 Section 5.15
	  	Labor Matters.	  	70
	 Section 5.16
	  	Patriot Act.	  	70
	 Section 5.17
	  	Intellectual Property; Licenses, Etc.	  	71
	 Section 5.18
	  	Solvency.	  	72
	 Section 5.19
	  	Ranking.	  	72
	 Section 5.20
	  	Security Documents.	  	72
	
	ARTICLE VI.
	COVENANTS
			
	 Section 6.01
	  	Reports and Other Information.	  	72
	 Section 6.02
	  	Compliance Certificate.	  	74
	 Section 6.03
	  	Limitation on Restricted Payments	  	74
	 Section 6.04
	  	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries.	  	83
	 Section 6.05
	  	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock.	  	85
	 Section 6.06
	  	Asset Sales.	  	92
	 Section 6.07
	  	Transaction with Affiliates.	  	92
	 Section 6.08
	  	Liens.	  	95
	 Section 6.09
	  	Offer to Purchase Upon Change of Control.	  	95
	 Section 6.10
	  	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries.	  	97
	 Section 6.11
	  	Merger, Consolidation or Sale of All or Substantially All Assets.	  	97
	 Section 6.12
	  	Additional Collateral and Guarantors	  	100
	 Section 6.13
	  	Post-Closing Requirements.	  	101
	 Section 6.14
	  	Notices under Senior Credit Facilities, Information and Inspection.	  	101
	 Section 6.15
	  	Suspension of Certain Covenants	  	102

  

 -ii- 

					
	 	  	 	  	Page
	ARTICLE VII.
	EVENTS OF DEFAULT AND REMEDIES
	 Section 7.01
	  	Events of Default.	  	103
	 Section 7.02
	  	Remedies upon Event of Default.	  	105
	 Section 7.03
	  	Application of Funds.	  	105
	
	ARTICLE VIII.
	ADMINISTRATIVE AGENT AND OTHER AGENTS
			
	 Section 8.01
	  	Appointment and Authorization of Agents.	  	106
	 Section 8.02
	  	Delegation of Duties.	  	107
	 Section 8.03
	  	Liability of Agents.	  	107
	 Section 8.04
	  	Reliance by Agents.	  	108
	 Section 8.05
	  	Notice of Default.	  	108
	 Section 8.06
	  	Credit Decision; Disclosure of Information by Agents.	  	109
	 Section 8.07
	  	Indemnification of Agents.	  	109
	 Section 8.08
	  	Agents in their Individual Capacities.	  	110
	 Section 8.09
	  	Successor Agents.	  	110
	 Section 8.10
	  	Administrative Agent May File Proofs of Claim.	  	111
	 Section 8.11
	  	Collateral and Guaranty Matters.	  	112
	 Section 8.12
	  	Arranger.	  	113
	 Section 8.13
	  	Appointment of Supplemental Agents.	  	113
	ARTICLE IX.
	MISCELLANEOUS
	 Section 9.01
	  	Amendments, Etc.	  	114
	 Section 9.02
	  	Notices and Other Communications; Facsimile Copies.	  	116
	 Section 9.03
	  	No Waiver; Cumulative Remedies.	  	118
	 Section 9.04
	  	Attorney Costs and Expenses.	  	118
	 Section 9.05
	  	Indemnification by the Borrower.	  	119
	 Section 9.06
	  	Payments Set Aside.	  	120
	 Section 9.07
	  	Successors and Assigns.	  	120
	 Section 9.08
	  	Confidentiality.	  	124
	 Section 9.09
	  	Setoff.	  	125
	 Section 9.10
	  	Interest Rate Limitation.	  	125
	 Section 9.11
	  	Counterparts.	  	125
	 Section 9.12
	  	Integration.	  	126
	 Section 9.13
	  	Severability.	  	126
	 Section 9.14
	  	GOVERNING LAW.	  	126
	 Section 9.15
	  	WAIVER OF RIGHT TO TRIAL BY JURY.	  	127
	 Section 9.16
	  	Binding Effect.	  	127
	 Section 9.17
	  	Judgment Currency.	  	127
	 Section 9.18
	  	Lender Action.	  	128
	 Section 9.19
	  	USA Patriot Act.	  	128
	 Section 9.20
	  	No Fiduciary Duty.	  	128

  

 -iii- 

					
	 	  	 	  	Page
	ARTICLE X.
	GUARANTEE
	 Section 10.01
	  	The Guarantee.	  	129
	 Section 10.02
	  	Obligations Unconditional.	  	129
	 Section 10.03
	  	Reinstatement.	  	131
	 Section 10.04
	  	Subrogation; Subordination.	  	131
	 Section 10.05
	  	Remedies.	  	131
	 Section 10.06
	  	Instrument for the Payment of Money.	  	131
	 Section 10.07
	  	Continuing Guarantee.	  	132
	 Section 10.08
	  	General Limitation on Guarantee Obligations.	  	132
	 Section 10.09
	  	Release of Guarantors.	  	132
	 Section 10.10
	  	Right of Contribution.	  	133
	 Section 10.11
	  	Certain Dutch Matters.	  	133

  

 -iv- 

					
	SCHEDULES
		
	 1.01A
	  	Commitments
	 5.08
	  	Ownership of Property
	 5.09(b)
	  	Environmental Matters
	 5.09(d)
	  	Environmental Actions
	 5.10
	  	Taxes
	 5.11(a)
	  	ERISA Compliance
	 6.13(a)
	  	Certain Collateral Documents
	 9.02
	  	Administrative Agent’s Office, Certain Addresses for Notices
	
	EXHIBITS
	
	 Form of

		
	 A
	  	Committed Loan Notice
	 B
	  	Note
	 C
	  	Assignment and Assumption
	 D
	  	Perfection Certificate
	 E
	  	Amended and Restated Security Agreement
	 F
	  	Intercreditor Agreement

 SENIOR SECURED LOAN AGREEMENT 

This SENIOR SECURED LOAN AGREEMENT (this “Agreement”) is entered into as of June 8, 2009, among Nielsen Finance
LLC, a Delaware limited liability company (together with its successors and assigns, “Nielsen” or the “Borrower”), the Guarantors party hereto from time to time, Goldman Sachs Lending Partners LLC, as Administrative
Agent and each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”). 

PRELIMINARY STATEMENTS 

The Borrower has requested that the Lenders extend credit to the Borrower in the form of Term Loans in an initial aggregate principal
amount of $500,000,000. The applicable Lenders have indicated their willingness to lend on the terms and subject to the conditions set forth herein. 

In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows: 

ARTICLE I. 

Definitions and Accounting Terms 

Section 1.01 Defined Terms. 

As used in this Agreement, the following terms shall have the meanings set forth below: 

“11 1/2% Senior Notes” means the Issuer’s 11 1/2% Senior Notes due 2016 issued May 1, 2009. 

“11 1/2% Senior Notes Indenture” means the indenture dated as of May 1, 2009 governing the 11 1/2% Senior Notes.

 “11 5/8% Senior Notes” means the Issuers’ 11 5/8% Senior Notes due 2014 issued January 27, 2009.

 “11 5/8% Senior Notes Indenture” means the indenture dated as of January 27, 2009 governing the 11 5/8%
Senior Notes. 
 “Acceptable Commitment” has the meaning set forth in Section 2.05(b)(i)(A)(2).

 “ACN” means ACN Holdings, Inc., a Delaware corporation. 

“Acquired Indebtedness” means, with respect to any specified Person, 

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of
such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted Subsidiary of such specified Person, and 

 (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person.

 “Additional Senior Secured Obligations” means the Loan Obligations and any other Senior Secured Obligations
that are Incurred after the Closing Date (other than Indebtedness incurred under the Senior Credit Facilities pursuant to clause (b)(1) of Section 6.05) and secured by the Common Collateral ratably with the Loan Obligations on a first priority
basis pursuant to the Security Documents. 
 “Additional Senior Secured Party” means the holders of any
Additional Senior Secured Obligations, including the Lenders, and any Authorized Representative with respect thereto, including the Administrative Agent. 

“Administrative Agent” means Goldman Sachs Lending Partners LLC, in its capacity as administrative agent under any of
the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means, with
respect to any currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 9.02 with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may
from time to time notify the Borrower and the Lenders. 
 “Administrative Questionnaire” means an
Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect
to any Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings,
the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. 

“Agent-Related Persons” means the Administrative Agent, together with their respective Affiliates, and the officers,
directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 
 “Aggregate Commitments”
means the Commitments of all the Lenders. 
 “Agreement” means this Senior Secured Loan Agreement, as the same
may be amended, supplemented or otherwise modified from time to time. 
 “Agreement Currency” has the meaning
set forth in Section 9.17. 
 “Anti-Terrorism Laws” has the meaning set forth in Section 5.16.

  

 -2- 

 “Applicable Premium” means, with respect to any Loans on any Prepayment
Date, the greater of: 
 (a) 1.0% of the principal amount of such Loans on such Prepayment Date; and 

(b) the excess, if any, of (i) the present value at such Prepayment Date of (A) the prepayment percentage of the principal
amount of such Loans at June 8, 2013 (such prepayment price being set forth in the table in Section 2.05(a)(i)) and all required interest payments due on such Loans through June 8, 2013 (excluding accrued but unpaid interest to the
Prepayment Date), computed using a discount rate equal to the Treasury Rate as of such Prepayment Date plus 50 basis points; over (ii) the principal amount of such Loans. 

“Approved Electronic Communications” means any notice, demand, communication, information, document or other material
that any Loan Party provides to Administrative Agent pursuant to any Loan Document or the transactions contemplated therein which is distributed to Administrative Agent or the Collateral Agent or to Lenders by means of electronic communications
pursuant to Section 9.02(d). 
 “Approved Fund” means any Fund that is administered, advised or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender. 

“Arranger” means Goldman Sachs Lending Partners LLC in its capacity as sole lead arranger. 

“Asset Sale” means: 

(1) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of property
or assets (including by way of a Sale and Lease-Back Transaction) of a Covenant Party or any of the Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(2) the issuance or sale of Equity Interests of any Covenant Party or any Restricted Subsidiary, whether in a single transaction or a
series of related transactions; 
 in each case, other than: 

(a) any disposition of Cash Equivalents or Investment Grade Securities or obsolete or worn out equipment in the ordinary
course of business or any disposition of inventory or goods (or other assets) held for sale in the ordinary course of business; 

(b) the disposition of all or substantially all of the assets of the Covenant Parties and the Restricted Subsidiaries in a
manner permitted pursuant to the provisions of Section 6.11 or any disposition that constitutes a Change of Control pursuant to this Agreement; 
  

 -3- 

 (c) the making of any Restricted Payment or Permitted Investment that is
permitted to be made, and is made, under Section 6.03; 
 (d) any disposition of assets or issuance or sale
of Equity Interests of any Covenant Party or Restricted Subsidiary in any transaction or series of transactions with an aggregate fair market value of less than $50 million; 

(e) any disposition of property or assets or issuance of securities by a Restricted Subsidiary or a Covenant Party to
another Covenant Party or by a Covenant Party or a Restricted Subsidiary to another Restricted Subsidiary; 
 (f)
to the extent allowable under Section 1031 of the Internal Revenue Code of 1986, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

(g) the lease, assignment or sub-lease of any real or personal property in the ordinary course of business; 

(h) any issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;

 (i) any issuance or sale of Equity Interests of VNU HF; 

(j) foreclosures on assets; 

(k) sales of accounts receivable, or participations therein, in connection with any Receivables Facility; 

(l) any sale, conveyance, transfer or other disposition of the Transactions Intercompany Obligations; and 

(m) any financing transaction with respect to property built or acquired by a Covenant Party or any Restricted Subsidiary
after August 9, 2006 including Sale and Lease-Back Transactions and asset securitizations permitted by this Agreement. 

“Asset Sale Offer” has the meaning set forth in Section 2.05(b)(i)(B)(2). 

“Asset Sale Offer Payment Date” has the meaning set forth in Section 2.05(b)(i)(E). 

“Asset Sale Prepayment Amount” means: 

(1) at any time after the Closing Date and prior to the repayment, redemption, repurchase, defeasance or other acquisition or retirement
of at least $150 million of Indebtedness under Credit Facilities and $100 million aggregate principal amount of Loans with the Net Proceeds of Asset Sales, $0; 
  

 -4- 

 (2) at any time after the repayment, redemption, repurchase, defeasance or other acquisition
or retirement of at least $150 million (but less than $650 million) of Indebtedness under Credit Facilities and $100 million (but less than $200 million) aggregate principal amount of Loans with the Net Proceeds of Asset Sales, $50 million less the
aggregate amount of Net Proceeds, if any, previously applied to the repayment, redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness under Section 6.03(b)(14) or Indebtedness that does not constitute
Senior Secured Obligations under Section 2.05(b)(i)(A)(e), in each case pursuant to this clause (2); 
 (3) at any time
after the repayment, redemption, repurchase, defeasance or other acquisition or retirement of at least $650 million of Indebtedness under Credit Facilities and $200 million aggregate principal amount of Loans with the Net Proceeds of Asset Sales,
$100 million less, without duplication, the aggregate amount of Net Proceeds, if any, previously applied to the repayment, redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness under
Section 6.03(b)(14) or Indebtedness that does not constitute Senior Secured Obligations under Section 2.05(b)(i)(A)(e), in each case pursuant to clause (2) above and/or this clause (3). 

“Assignees” has the meaning set forth in Section 9.07(b). 

“Assignment and Assumption” means an Assignment and Assumption substantially in the form of Exhibit C. 

“Attorney Costs” means and includes all reasonable fees, expenses and disbursements of any law firm or other external
legal counsel. 
 “Audited Financial Statements” means the audited consolidated balance sheet of the Company
and its Subsidiaries as of December 31, 2008, and the related audited consolidated statements of income, of changes in shareholders’ equity and of cash flows for the Company and its Subsidiaries for the fiscal year ended December 31,
2008. 
 “Authorized Representative” means (i) in the case of any Senior Credit Facilities Obligations or
the Senior Credit Facilities Secured Parties, the administrative agent under the Senior Credit Facilities, (ii) in the case of the Loan Obligations or the Lenders, the Administrative Agent and (iii) in the case of any Series of Additional
Senior Secured Obligations or Additional Senior Secured Parties that become subject to the Intercreditor Agreement, the Authorized Representative named for such Series in the applicable joinder agreement. 

“Borrower” has the meaning set forth in the introductory paragraph to this Agreement. 

“Borrowing” means a borrowing consisting of simultaneous Loans made by each of the Lenders pursuant to
Section 2.01. 
 “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located. 
  

 -5- 

 “Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited); and 
 (4) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 “Capitalized Lease
Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet
(excluding the footnotes thereto) in accordance with GAAP. 
 “Capitalized Software Expenditures” means, for
any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities) by a Person and its Subsidiaries that are Covenants Parties or Restricted Subsidiaries during such period in respect of purchased software or internally
developed software and software enhancements that, in conformity with GAAP, are or are required to be reflected as capitalized costs on the consolidated balance sheet of such Person and such Subsidiaries. 

“Cash Equivalents” means: 

(1) United States dollars; 

(2) (a) euro, or any national currency of any participating member state of the EMU; or 

      (b) in the case of any Covenant Party or Restricted Subsidiary, such local currencies held by them
from time to time in the ordinary course of business; 
 (3) securities issued or directly and fully and unconditionally
guaranteed or insured by the U.S. government, any member of the European Union or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities
of 24 months or less from the date of acquisition; 
 (4) certificates of deposit, time deposits and eurodollar time deposits
with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus of not less than $500
million in the case of U.S. banks and $100 million (or the U.S. dollar equivalent as of the date of determination) in the case of non-U.S. banks; 
  

 -6- 

 (5) repurchase obligations for underlying securities of the types described in clauses
(3) and (4) entered into with any financial institution meeting the qualifications specified in clause (4) above; 

(6) commercial paper rated at least P-1 by Moody’s or at least A-1 by S&P and in each case maturing within 24 months after the
date of creation thereof; 
 (7) marketable short-term money market and similar securities having a rating of at least P-2 or
A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case maturing within 24 months after the date
of creation thereof; 
 (8) investment funds investing 95% of their assets in securities of the types described in clauses
(1) through (7) above; 
 (9) readily marketable direct obligations issued by any state, commonwealth or territory of
the United States or any political subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P with maturities of 24 months or less from the date of acquisition; 

(10) Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher
from Moody’s with maturities of 24 months or less from the date of acquisition; and 
 (11) Investments with average
maturities of 12 months or less from the date of acquisition in money market funds rated AAA– (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s. 

Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses
(1) and (2) above, provided that such amounts are converted into any currency listed in clauses (1) and (2) as promptly as practicable and in any event within ten Business Days following the receipt of such amounts. 

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as subsequently
amended. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information
System maintained by the U.S. Environmental Protection Agency. 
 “Change of Control” means the occurrence of
any of the following: 
 (a) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all
of the assets of the Covenant Parties and the Restricted Subsidiaries, taken as a whole, to any Person other than a Permitted Holder; or 
  

 -7- 

 (b) the Borrower becomes aware of (by way of a report or any other filing pursuant to
Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision),
including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than the Permitted Holders, in a single transaction or in a related series of
transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of a majority or more of the total voting power of
the Voting Stock of the Borrower. 
 “Closing Date” means the first date all of the conditions precedent in
Section 4.01 are satisfied or waived in accordance with Section 4.01. 
 “Code” means the U.S.
Internal Revenue Code of 1986 and rules and regulations related thereto. 
 “Collateral” means all property
subject or purported to be subject, from time to time, to a Lien under any Security Documents. 
 “Collateral
Agent” means the First Lien Collateral Agent, or any successor collateral agent. 
 “Collateral Asset Sale
Offer” has the meaning set forth in Section 2.05(b)(i)(B)(1). 
 “Collateral Asset Sale Offer Payment
Date” has the meaning set forth in Section 2.05(b)(i)(D). 
 “Collateral Excess Proceeds” has the
meaning set forth in Section 2.05(b)(i)(B)(1). 
 “Commitment” means, as to each Lender, its obligation to
make a Loan to the Borrower pursuant to Section 2.01 in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01A or in the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Commitments is $500,000,000. 

“Committed Loan Notice” means a notice of a Borrowing substantially in the form of Exhibit A. 

“Common Collateral” means, at any time, Collateral in which the holders of two or more Series of Senior Secured
Obligations (or their respective Authorized Representatives) hold a valid and perfected security interest at such time. If more than two Series of Senior Secured Obligations are outstanding at any time and the holders of less than all Series of
Senior Secured Obligations hold a valid and perfected security interest in any Collateral at such time then such Collateral shall constitute Common Collateral for those Series of Senior Secured Obligations that

  

 -8- 

 
hold a valid security interest in such Collateral at such time and shall not constitute Common Collateral for any Series which does not have a valid and perfected security interest in such
Collateral at such time. 
 “Company” means The Nielsen Company B.V. (formerly known as VNU Group B.V.), a
private company incorporated under the laws of The Netherlands, having its corporate seat in Haarlem, The Netherlands, together with its successors and assigns. 

“Compensation Period” has the meaning set forth in Section 2.12(c)(ii). 

“Consolidated Depreciation and Amortization Expense” means, with respect to any Person, for any period, the total amount
of depreciation and amortization expense, including the amortization of deferred financing fees and Capitalized Software Expenditures and amortization of unrecognized prior service costs and actuarial gains and losses related to pensions and other
post-employment benefits, of such Person and its Subsidiaries that are Covenant Parties or Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP. 

“Consolidated Indebtedness” means, as of any date of determination, the sum, without duplication, of (1) the total
amount of Indebtedness of the Covenant Parties and the Restricted Subsidiaries, plus (2) the aggregate liquidation value of all Disqualified Stock of the Borrower and the Restricted Guarantors and all Preferred Stock of the Restricted
Subsidiaries that are not Guarantors, in each case, determined on a consolidated basis in accordance with GAAP. 

“Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum of:

 (1) consolidated interest expense of such Person and its Subsidiaries that are Covenant Parties or Restricted Subsidiaries for
such period, to the extent such expense was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (b) all
commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances, (c) non-cash interest expense (but excluding any non-cash interest expense attributable to the movement in the mark to market
valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, pursuant to interest rate Hedging Obligations with respect to
Indebtedness, and excluding (w) any “additional interest” pursuant to any registration rights agreement with respect to notes issued by the Borrower, (x) amortization of deferred financing fees, debt issuance costs, commissions,
fees and expenses, (y) any expensing of bridge, commitment and other financing fees and (z) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Receivables Facility); plus 

(2) consolidated capitalized interest of such Person and such Subsidiaries for such period, whether paid or accrued; plus 

 

 -9- 

 (3) Restricted Payments made by such Person of the type permitted to be made by clause
(15)(f) of Section 6.03(b); less 
 (4) interest income of such Person and such Subsidiaries for such period.

 For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate
reasonably determined by the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Leverage Ratio” means, as of the date of determination, the ratio of (a) the Consolidated
Indebtedness of the Covenant Parties and the Restricted Subsidiaries on such date less the amount of cash and Cash Equivalents in excess of any Restricted Cash that would be stated on the balance sheet of the Covenant Parties and the Restricted
Subsidiaries and held by the Covenant Parties and the Restricted Subsidiaries as of such date of determination, as determined in accordance with GAAP, to (b) EBITDA of the Covenant Parties and the Restricted Subsidiaries for the most recently
ended four fiscal quarters ending immediately prior to such date for which internal financial statements are available. 
 In
the event that a Covenant Party or any Restricted Subsidiary (i) incurs, assumes, guarantees, redeems, retires or extinguishes any Indebtedness (other than, for purposes of calculating EBITDA only, Indebtedness incurred under any revolving
credit facility unless such Indebtedness has been permanently repaid and has not been replaced) or (ii) issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Consolidated Leverage
Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Consolidated Leverage Ratio is made (the “Consolidated Leverage Ratio Calculation Date”), then the Consolidated Leverage Ratio
shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at
the beginning of the applicable four-quarter period. 
 For purposes of making the computation referred to above, Investments,
acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and other operational changes that a Covenant Party
or any of the Restricted Subsidiaries has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Consolidated Leverage Ratio Calculation Date shall
be calculated on a pro forma basis in accordance with GAAP assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in any
associated Fixed Charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary
or was merged with or into a Covenant Party or any of the Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued

  

 -10- 

 
operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Consolidated Leverage
Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change had occurred at the beginning of the applicable
four-quarter period. 
 For purposes of this definition, whenever pro forma effect is to be given to a transaction, the pro
forma calculations shall be made in good faith by a responsible financial or accounting officer of the Borrower. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Consolidated Leverage Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease
Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For
purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable
period except as set forth in the first paragraph of this definition. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other
rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate. Any such pro forma calculation may include adjustments appropriate, in the reasonable
determination of the Borrower as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements or synergies reasonably expected to result from any acquisition, amalgamation, merger or
operational change (including, to the extent applicable, from the Transactions) and (2) all adjustments of the nature used in connection with the calculation of “Pro Forma Adjusted EBITDA” as set forth in footnote 8 to the
“Summary Historical and Pro Forma Financial Information” under “Offering Memorandum Summary” in the Original Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter
period. Notwithstanding anything to the contrary, the aggregate amount of projected operating expense reductions, operating improvements and synergies included in any such pro forma calculation shall not exceed $125 million for any four consecutive
quarter period (which adjustments may be incremental to pro forma adjustments made pursuant to the immediately preceding paragraph). 

For the purposes of this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the
average exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination determined in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income of such
Person and its Subsidiaries that are Covenant Parties or Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication, 

 

 -11- 

 (1) any after-tax effect of extraordinary, non-recurring or unusual gains or losses (less
all fees and expenses relating thereto) or expenses (including relating to the Transactions), duplicative running costs associated with the European Data Factory, severance, relocation costs and curtailments or modifications to pension and
post-retirement employee benefit plans shall be excluded, 
 (2) the Net Income for such period shall not include the cumulative
effect of a change in accounting principles during such period, including changes from international financial reporting standards to United States financial reporting standards, 

(3) any after-tax effect of income (loss) from disposed or discontinued operations and any net after-tax gains or losses on disposal of
disposed, abandoned or discontinued operations shall be excluded, 
 (4) any after-tax effect of gains or losses (less all fees
and expenses relating thereto) attributable to asset dispositions other than in the ordinary course of business, as determined in good faith by the Borrower, shall be excluded, 

(5) the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by
the equity method of accounting, shall be excluded; provided that Consolidated Net Income of such Person shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into
cash) to such Person or a Subsidiary thereof that is a Covenant Party or a Restricted Subsidiary in respect of such period, 

(6) solely for the purpose of determining the amount available for Restricted Payments under clause (3)(a) of Section 6.03(a),
the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded if the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of
determination wholly permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or
governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income of the
Covenant Parties will be increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to a Covenant Party or a Restricted Subsidiary thereof in respect of such period, to
the extent not already included therein, 
 (7) effects of purchase accounting adjustments (including the effects of such
adjustments pushed down to such Person and such Subsidiaries) in component amounts required or permitted by GAAP, resulting from the application of purchase accounting in relation to the Transactions or any consummated acquisition or the
amortization or write-off of any amounts thereof, net of taxes, shall be excluded, 
  

 -12- 

 (8) any after-tax effect of income (loss) from the early extinguishment of Indebtedness or
Hedging Obligations or other derivative instruments shall be excluded, 
 (9) any impairment charge or asset write-off, in each
case, pursuant to GAAP and the amortization of intangibles arising pursuant to GAAP shall be excluded, 
 (10) any non-cash
compensation expense recorded from grants of stock appreciation or similar rights, stock options, restricted stock or other rights shall be excluded, 

(11) any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with the Transactions
and any acquisition, Investment, Asset Sale, issuance or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated
prior to August 9, 2006 and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction shall be excluded, and 

(12) accruals and reserves that are established within twelve months after August 9, 2006 that are so required to be established as
a result of the Transactions in accordance with GAAP shall be excluded. 
 Notwithstanding the foregoing, for the purpose of
Section 6.03 only (other than clause (3)(d) of Section 6.03(a)), there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Covenant Parties and the
Restricted Subsidiaries, any repurchases and redemptions of Restricted Investments from the Covenant Parties and the Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by any of the Covenant Parties
or any of the Restricted Subsidiaries, any sale of the stock of an Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments
permitted under Section 6.03 pursuant to clause (3)(d) of Section 6.03(a). 
 “Consolidated Senior
Secured Debt Ratio” means, as of the date of determination, the ratio of (a) the Consolidated Indebtedness of the Covenant Parties and the Restricted Subsidiaries consisting of Senior Secured Obligations and other Indebtedness referred
to in clauses (11), (12) or (18) of Section 6.05, which, in each case, is secured by a Lien which is pari passu with or senior to the Liens securing the Loan Obligations, less the amount of cash and Cash Equivalents in excess of any
Restricted Cash that would be stated on the balance sheet of the Covenant Parties and the Restricted Subsidiaries and held by the Covenant Parties and the Restricted Subsidiaries as of such date of determination, as determined in accordance with
GAAP, to (b) EBITDA of the Covenant Parties and the Restricted Subsidiaries for the most recently ended four fiscal quarters ending immediately prior to such date for which internal financial statements are available. 

 

 -13- 

 In the event that a Covenant Party or any Restricted Subsidiary (i) incurs, assumes,
guarantees, redeems, retires or extinguishes any Indebtedness (other than, for purposes of calculating EBITDA only, Indebtedness incurred under any revolving credit facility unless such Indebtedness has been permanently repaid and has not been
replaced) or (ii) issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Consolidated Senior Secured Debt Ratio is being calculated but prior to or simultaneously with the event for
which the calculation of the Consolidated Secured Debt Ratio is made (the “Consolidated Senior Secured Debt Ratio Calculation Date”), then the Consolidated Senior Secured Debt Ratio shall be calculated giving pro forma effect to
such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter
period. 
 For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers,
amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and other operational changes that a Covenant Party or any of the Restricted
Subsidiaries has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Consolidated Senior Secured Debt Ratio Calculation Date shall be calculated
on a pro forma basis in accordance with GAAP assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in any associated Fixed Charge
obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or
into a Covenant Party or any of the Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation or operational change, in each case
with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Consolidated Senior Secured Debt Ratio shall be calculated giving pro forma effect thereto for such period as if such
Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change had occurred at the beginning of the applicable four-quarter period. 

For purposes of this definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Borrower. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on
the Consolidated Senior Secured Debt Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed
to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the
computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period except as set forth
in the 
  

 -14- 

 
first paragraph of this definition. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered
rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate. Any such pro forma calculation may include adjustments appropriate, in the
reasonable determination of the Borrower as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements or synergies reasonably expected to result from any acquisition, amalgamation,
merger or operational change (including, to the extent applicable, from the Transactions); and (2) all adjustments of the nature used in connection with the calculation of “Pro Forma Adjusted EBITDA” as set forth in footnote 8 to the
“Summary Historical and Pro Forma Financial Information” under “Offering Memorandum Summary” in the Original Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter
period. Notwithstanding anything to the contrary, the aggregate amount of projected operating expense reductions, operating improvements and synergies included in any such pro forma calculation shall not exceed $125 million for any four consecutive
quarter period (which adjustments may be incremental to pro forma adjustments made pursuant to the immediately preceding paragraph). 

For the purposes of this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the
average exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination determined in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases,
dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation
of such Person, whether or not contingent, 
 (1) to purchase any such primary obligation or any property constituting direct or
indirect security therefor, 
 (2) to advance or supply funds 

(a) for the purchase or payment of any such primary obligation, or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor, or 
 (3) to purchase property, securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any
agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
  

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 “Covenant Parties” means each of VNU HF, VNU International, B.V., and the
Borrower. 
 “Covenant Suspension Event” has the meaning set forth in Section 6.14(a). 

“Credit Agreement” means the Credit Agreement, dated as of August 9, 2006, among the Borrower, Citibank, N.A., as
administrative agent, the lenders party thereto from time to time, and the other parties named therein, as amended, restated, supplemented, waived or otherwise modified from time to time, including to the date hereof. 

“Credit Facilities” means, with respect to a Covenant Party or any of the Restricted Subsidiaries, one or more debt
facilities, including the Senior Credit Facilities, or other financing arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term loans, letters of credit or other long-term
indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and
any indentures or credit facilities or commercial paper facilities that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility
or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 6.05) or adds Restricted Subsidiaries as additional borrowers or
guarantors thereunder and whether by the same or any other agent, lender or group of lenders. 
 “Debtor Relief
Laws” means the Bankruptcy Code of the United States, the Dutch Bankruptcy Act (Faillissementswet) and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership,
insolvency, reorganization, faillissement, surseance van betaling, onderbewindstelling, ontbinding, or similar debtor relief Laws of the United States, The Netherlands or other applicable jurisdictions from time to time in effect and
affecting the rights of creditors generally. 
 “Default” means any event that is, or with the passage of time
or the giving of notice or both would be, an Event of Default. 
 “Default Rate” means 10.50% (ten and one-half
percent) per annum, to the fullest extent permitted by applicable Laws 
 “Defaulting Lender” means any Lender
that (a) has failed to fund any portion of the Loans required to be funded by it hereunder within one (1) Business Day of the date required to be funded by it hereunder, unless the subject of a good faith dispute or subsequently cured,
(b) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one (1) Business Day of the date when due, unless the subject of a good faith dispute or
subsequently cured, or (c) has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding. 
  

 -16- 

 “Designated Non-cash Consideration” means the fair market value of non-cash
consideration received by a Covenant Party or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation,
executed by the principal financial officer of the Borrower, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of a Covenant Party, a Restricted Subsidiary or any direct or
indirect parent corporation thereof (in each case other than Disqualified Stock) that is issued for cash (other than to a Covenant Party or a Restricted Subsidiary or an employee stock ownership plan or trust established by a Covenant Party or any
their respective Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate executed by the principal financial officer of the Borrower, on the issuance date thereof, the cash proceeds of which are
excluded from the calculation set forth in clause (3) of Section 6.03(a). 
 “Disqualified Stock”
means, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is
mandatorily redeemable (other than solely as a result of a change of control or asset sale) pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than solely as a result of a change of
control or asset sale), in whole or in part, in each case prior to the date 91 days after the earlier of the maturity date of the Loans or the date the Loans are no longer outstanding; provided, however, that if such Capital Stock is issued to any
plan for the benefit of employees of the Covenant Parties or their respective Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased in order
to satisfy applicable statutory or regulatory obligations. 
 “Dollar” and “$” mean lawful
money of the United States. 
 “Domestic Subsidiary” means any Subsidiary of a Covenant Party that is organized
or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof. 

“EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such Person and its
Subsidiaries that are Covenant Parties or Restricted Subsidiaries for such period 
 (1) increased (without duplication) by:

 (a) provision for taxes based on income or profits or capital, including, without limitation, state, franchise and similar
taxes and foreign withholding taxes of such Person and such Subsidiaries paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income; plus 

 

 -17- 

 (b) Fixed Charges (other than clause (3) of the definition of Consolidated Interest
Expense, except to the extent that such amount has been deducted in the calculation of Consolidated Net Income) of such Person and such Subsidiaries for such period (including (x) net losses on Hedging Obligations or other derivative
instruments entered into for the purpose of hedging interest rate risk and (y) costs of surety bonds in connection with financing activities, in each case, to the extent included in Fixed Charges) to the extent the same was deducted (and not
added back) in calculating such Consolidated Net Income; plus 
 (c) Consolidated Depreciation and Amortization Expense of such
Person and such Subsidiaries for such period to the extent the same were deducted (and not added back) in computing Consolidated Net Income; plus 

(d) any expenses or charges (other than depreciation or amortization expense) related to any Equity Offering, Permitted Investment,
acquisition, disposition, recapitalization or the incurrence or repayment of Indebtedness permitted to be incurred by this Agreement (including a refinancing thereof) (whether or not successful), including (i) such fees, expenses or charges
related to the borrowing of the Loans and the Senior Subordinated Discount Notes and the Credit Facilities, (ii) any amendment or other modification of the Loans, and, in each case, deducted (and not added back) in computing Consolidated Net
Income, (iii) any “additional interest” pursuant to any registration rights agreement with respect to notes issued by the Borrower and (iv) commissions, discounts, yield and other fees and charges (including any interest expense)
related to any Receivables Facility; plus 
 (e) the amount of any business optimization expense and restructuring charge or
reserve deducted (and not added back) in such period in computing Consolidated Net Income, including any restructuring costs incurred in connection with acquisitions after August 9, 2006 costs related to the closure and/or consolidation of
facilities, retention charges, systems establishment costs and excess pension charges; plus 
 (f) any other non-cash charges,
including any write offs or write downs, reducing Consolidated Net Income for such period (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof
in such future period shall be subtracted from EBITDA in such future period to the extent paid, but excluding from this proviso, for the avoidance of doubt, amortization of a prepaid cash item that was paid in a prior period); plus 

(g) the amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third
parties in any non-Wholly-Owned Subsidiary deducted (and not added back) in such period in calculating Consolidated Net Income; plus 

(h) the amount of management, monitoring, consulting, transaction and advisory fees and related expenses paid in such period to the
Investors to the extent otherwise permitted under Section 6.07; plus 
  

 -18- 

 (i) the amount of loss on sale of receivables and related assets to the Receivables
Subsidiary in connection with a Receivables Facility; plus 
 (j) any costs or expense incurred by such Person or any such
Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash
proceeds contributed to the capital of the Borrower or a Restricted Guarantor or net cash proceeds of an issuance of Equity Interest of the Borrower or Restricted Guarantor (other than Disqualified Stock) solely to the extent that such net cash
proceeds are excluded from the calculation set forth in clause (3) of Section 6.03(a); 
 (2) decreased by (without
duplication) (a) non-cash gains increasing Consolidated Net Income of such Person and such Subsidiaries for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item
that reduced EBITDA in any prior period and (b) solely for the purpose of calculating EBITDA on a cumulative basis for purposes of clause (3)(a) of Section 6.03(a) the amount of cost savings set forth in the adjustments used in
connection with the calculation of “Pro Forma Adjusted EBITDA” as set forth in footnote 8 to the “Summary Historical and Pro Forma Financial Information” under “Offering Memorandum Summary” in the Original Offering
Memorandum; and 
 (3) increased or decreased by (without duplication): 

(a) any net gain or loss resulting in such period from Hedging Obligations and the application of Statement of Financial Accounting
Standards No. 133 and International Accounting Standards No. 39 and their respective related pronouncements and interpretations; plus or minus, as applicable, 

(b) any net gain or loss resulting in such period from currency translation gains or losses related to currency remeasurements of
indebtedness (including any net loss or gain resulting from hedge agreements for currency exchange risk). 
 “Eligible
Assignee” has the meaning set forth in Section 9.07(a). 
 “EMTN Notes” means Indebtedness in
respect of notes outstanding on the Closing Date pursuant to the Parent’s Euro Medium Term Note Programme. 

“EMU” means economic and monetary union as contemplated in the Treaty on European Union. 

“Environment” means indoor air, ambient air, surface water, groundwater, drinking water, land surface, subsurface
strata, and natural resources such as wetlands, flora and fauna. 
 “Environmental Laws” means the common law
and any and all Federal, state, local, and foreign statutes, Laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to

  

 -19- 

 
pollution, the protection of the Environment or, to the extent relating to exposure to Hazardous Materials, human health or to the Release or threat of Release of Hazardous Materials into the
Environment. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability
for damages, costs of investigation and remediation, fines, penalties or indemnities), of the Loan Parties or any Restricted Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the
generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the Environment or
(e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under
any Environmental Law. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock, but excluding any debt security that is convertible into, or exchangeable for, Capital Stock. 

“Equity Offering” means any public or private sale of common stock or Preferred Stock of VNU HF or of a direct or
indirect parent of VNU HF (excluding Disqualified Stock), other than: 
 (1) public offerings with respect to any such
Person’s common stock registered on Form S-8; 
 (2) issuances to a Covenant Party or any Subsidiary of a Covenant Party;
and 
 (3) any such public or private sale that constitutes an Excluded Contribution. 

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

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is under common control with a Loan
Party or any Restricted Subsidiary within the meaning of Section 414 of the Code or Section 4001 of ERISA. 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by a Loan Party,
any Restricted Subsidiary or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that
is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Loan Party, any Restricted Subsidiary or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is
in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of 

 

 -20- 

 
ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA
for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under
Section 4007 of ERISA, upon a Loan Party, any Restricted Subsidiary or any ERISA Affiliate. 
 “euro”
means the single currency of participating member states of the EMU. 
 “Event of Default” has the meaning
specified in Section 7.01. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC promulgated thereunder. 
 “Excluded Contribution” means net cash
proceeds, marketable securities or Qualified Proceeds received by or contributed to a Covenant Party from, 
 (1) contributions
to its common equity capital, and 
 (2) the sale (other than to a Covenant Party or a Subsidiary of a Covenant Party or to any
management equity plan or stock option plan or any other management or employee benefit plan or agreement of a Covenant Party or a Subsidiary of a Covenant Party) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of VNU
HF or any direct or indirect parent of VNU HF, 
 in each case designated as Excluded Contributions pursuant to an
Officer’s Certificate on the date such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in clause (3) of Section 6.03(a). 

“Excluded Subsidiary” means (a) any Subsidiary that is not a wholly owned Subsidiary, (b) any Subsidiary of a
Guarantor that does not have assets or annual revenues in excess of $50,000,000 (or $100,000,000 in the case of AC Nielsen, S.A. de C.V., Nielsen Book Services Limited and VNU Business Publications Ltd.), (c) any Subsidiary that is prohibited
by applicable Law or Contractual Obligations existing on the Closing Date from guaranteeing the Obligations, (d) any Restricted Subsidiary acquired pursuant to a Permitted Acquisition financed with secured Indebtedness incurred pursuant to
Section 6.05(b)(18) and each Restricted Subsidiary thereof that guarantees such Indebtedness; provided that each such Restricted Subsidiary shall cease to be an Excluded Subsidiary under this clause (d) if such secured Indebtedness
is repaid or becomes unsecured or if such Restricted Subsidiary ceases to guarantee such secured Indebtedness, as applicable, (e) any other Subsidiary with respect to which, in the reasonable judgment of the Applicable Authorized
Representative, the cost or other consequences (including any adverse tax consequences) of providing a Guarantee shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (f) any Receivables Subsidiary, and
(g) any Foreign Subsidiary of ACN or VNU, Inc. or of any other Domestic Subsidiary. 
 “Executive Order”
has the meaning set forth in Section 5.16. 
  

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 “Existing Senior Notes” means the Original Notes, the Issuers’
additional $220 million of 10% Senior Notes due 2014 issued on April 16, 2008, the 11 5/8% Senior Notes and the 11 1/2% Senior Notes. 

“Existing Senior Notes Indenture” means the indenture dated as of August 9, 2006, as supplemented, governing the
Original Notes and the Issuers’ additional $220 million of 10% Senior Notes due 2014 issued on April 16, 2008, the 11 5/8% Senior Notes Indenture and the 11 1/2% Senior Notes Indenture. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight
Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank on the Business Day next succeeding such day; provided that (a) if such day is
not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next
succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Citibank, N.A. on such day on such transactions as determined by the Administrative
Agent. 
 “First Lien Collateral Agent” means Citibank, N.A., in its collective capacities as
(i) Collateral Agent hereunder, (ii) administrative agent and collateral agent for the lenders and other secured parties under the Senior Credit Facilities and the other Senior Secured Documents and (iii) as collateral agent for the
Additional Senior Secured Parties, together with its successors and permitted assigns under the Senior Credit Facilities, this Agreement and the Senior Secured Documents exercising substantially the same rights and powers; and in each case provided
that if such First Lien Collateral Agent is not Citibank, N.A., such First Lien Collateral Agent shall have become a party to the Intercreditor Agreement and the other applicable First Lien Security Documents. 

“First Lien Security Documents” means the Security Documents and any other agreement, document or instrument pursuant to
which a Lien is granted or purported to be granted securing Additional Senior Secured Obligations or under which rights or remedies with respect to such Liens are governed, in each case to the extent relating to the collateral securing the
Additional Senior Secured Obligations. 
 “First Priority After-Acquired Property” means any property or asset
of the Borrower or any Guarantor that secures any Senior Credit Facility Obligations or any other Senior Secured Obligations that is not already subject to the Lien under the Security Documents securing the Loan Obligations. 

“Fixed Charges” means, with respect to any Person for any period, the sum, without duplication, of: 

 

 -22- 

 (1) Consolidated Interest Expense of such Person and its Subsidiaries that are Covenant
Parties or Restricted Subsidiaries for such period; plus 
 (2) all cash dividends or other distributions paid to any Person
other than such Person or any such Subsidiary (excluding items eliminated in consolidation) on any series of Preferred Stock of a Covenant Party or a Restricted Subsidiary during such period; plus 

(3) all cash dividends or other distributions paid to any Person other than such Person or any such Subsidiary (excluding items
eliminated in consolidation) on any series of Disqualified Stock of a Covenant Party or a Restricted Subsidiary during such period. 

“Foreign Parent” means The Nielsen Company B.V. (f/k/a VNU Group B.V.), VNU Intermediate Holding B.V. and any other
direct or indirect parent organization of a Covenant Party that is a subsidiary of The Nielsen Company B.V. 
 “Foreign
Subsidiary” means any Restricted Subsidiary that is not a Guarantor and that is not organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof and any Restricted
Subsidiary of such Foreign Subsidiary. 
 “FRB” means the Board of Governors of the Federal Reserve System of
the United States. 
 “Fund” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course. 

“GAAP” means generally accepted accounting principles in the United States which are in effect on August 9, 2006.

 “Governmental Authority” means any nation or government, any state or other political subdivision thereof,
any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government. 
 “Government Securities” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or

 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific 

 

 -23- 

 
payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or
interest on the Government Securities evidenced by such depository receipt. 
 “Granting Lender” has the
meaning specified in Section 9.07(h). 
 “guarantee” means a guarantee (other than by endorsement of
negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations.

 “Guarantee” means the guarantee by any Guarantor of the Borrower’s Obligations under this Agreement.

 “Guaranteed Obligations” has the meaning specified in Section 10.01. 

“Guarantor” means, each Person that Guarantees the Loans in accordance with the terms of this Agreement and the Security
Documents. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous
or toxic substances, wastes or pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, mold, infectious or medical wastes that are regulated pursuant to, or the
Release or exposure to which could give rise to liability under, applicable Environmental Law. 
 “Hedging
Obligations” means, with respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity
collar agreement, foreign exchange contract, currency swap agreement or similar agreement providing for the transfer or mitigation of interest rate or currency risks either generally or under specific contingencies. 

“Holdings Debt” means Indebtedness of Parent outstanding on August 9, 2006 (after giving pro forma effect to the
Transactions) as reflected in Parent’s balance sheet and refinancings thereof that do not increase the aggregate principal amount thereof, except to the extent of additional Indebtedness incurred to pay premiums (including tender premiums),
defeasance costs and fees and expenses in connection therewith. 
 “Indebtedness” means, with respect to any
Person, without duplication: 
 (1) any indebtedness (including principal and premium) of such Person, whether or not contingent:

  

 -24- 

 (a) in respect of borrowed money; 

(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without
duplication, reimbursement agreements in respect thereof); 
 (c) representing the balance deferred and unpaid of the purchase
price of any property (including Capitalized Lease Obligations), except (i) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business, (ii) any
earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP, and (iii) liabilities accrued in the ordinary course of business; or 

(d) representing any Hedging Obligations; 

if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a
liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 
 (2) to the
extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the obligations of the type referred to in clause (1) of a third Person (whether or not such items would appear
upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary course of business; and 

(3) to the extent not otherwise included, the obligations of the type referred to in clause (1) of a third Person secured by a Lien
on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; 
 provided,
however, that notwithstanding the foregoing, Indebtedness shall be deemed not to include (a) Contingent Obligations incurred in the ordinary course of business, (b) obligations under or in respect of Receivables Facilities,
(c) any intercompany indebtedness (including intercompany indebtedness to a Foreign Parent) having a term not exceeding 364 days (inclusive of any rollover or extensions of terms) and made in the ordinary course of business consistent with past
practice and (d) the Parent Intercompany Debt. 
 “Indemnified Liabilities” has the meaning set forth in
Section 9.05. 
 “Indemnitees” has the meaning set forth in Section 9.05. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged
in Similar Businesses of nationally recognized standing that is, in the good faith judgment of the Borrower, qualified to perform the task for which it has been engaged. 

“Information” has the meaning set forth in Section 9.08. 

 

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 “Initial Lenders” has the meaning set forth in Section 9.04.

 “Initial Required Lenders” means Initial Lenders that, on any date of determination, constitute Required
Lenders hereunder. If no such Initial Lenders constitute Required Lenders, any approval of the Initial Required Lenders required hereunder shall not otherwise be required. 

“Intercreditor Agreement” means the Intercreditor Agreement dated as of the Closing Date among the Administrative Agent,
the First Lien Collateral Agent, the administrative agent under the Credit Agreement and each other agent or trustee with respect to the Senior Secured Obligations from time to time party thereto, as the same may be amended, restated, supplemented
or otherwise modified from time to time. 
 “Interest Payment Date” means the last Business Day of each March,
June, September and December and the Maturity Date. 
 “Investment Grade Rating” means (i) a corporate
family rating equal to or higher than Baa3 (or the equivalent) by Moody’s and (ii) a corporate credit rating equal to or higher than BBB– (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(1) securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof
(other than Cash Equivalents); 
 (2) debt securities or debt instruments with an Investment Grade Rating, but excluding any
debt securities or instruments constituting loans or advances among the Borrower and the Subsidiaries of any Covenant Party; 

(3) investments in any fund that invests exclusively in investments of the type described in clauses (1) and (2) which fund may
also hold immaterial amounts of cash pending investment or distribution; and 
 (4) corresponding instruments in countries other
than the United States customarily utilized for high quality investments. 
 “Investments” means, with respect
to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission,
travel and similar advances to officers and employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and
investments that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of such Person in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash
or other property. For purposes of the definition of “Unrestricted Subsidiary” and Section 6.03: 
  

 -26- 

 (1) “Investments” shall include the portion (proportionate to the applicable
Covenant Party’s direct or indirect equity interest in such Subsidiary) of the fair market value of the net assets of a Subsidiary of a Covenant Party at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however,
that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Borrower or applicable Restricted Subsidiary shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive)
equal to: 
 (a) the Covenant Party’s direct or indirect “Investment” in such Subsidiary at the time of such
redesignation; less 
 (b) the portion (proportionate to the Covenant Party’s direct or indirect equity interest in such
Subsidiary) of the fair market value of the net assets of such Subsidiary at the time of such redesignation; and 
 (2) any
property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Borrower. 

“Investors” means AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg
Kravis Roberts & Co., Thomas H. Lee Partners and each of their respective Affiliates but not including, however, any operating portfolio companies of any of the foregoing. 

“Issuers” means Nielsen and Nielsen Finance Co., a Delaware corporation. 

“IP Rights” has the meaning set forth in Section 5.17. 

“Judgment Currency” has the meaning specified in Section 9.17. 

“Junior Lien Obligations” means Obligations with respect to other Indebtedness permitted to be incurred under the Senior
Credit Facilities and this Agreement, which is by its terms intended to be secured on a basis junior to the Liens securing the Senior Secured Obligations; provided such Lien is permitted to be incurred under the Senior Credit Facilities and this
Agreement. 
 “Laws” means, collectively, all international, foreign, Federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation
or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law.

 “Lender” has the meaning specified in the introductory paragraph to this Agreement and their respective
successors and assigns as permitted hereunder, each of which is referred to 
  

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herein as a “Lender,” together with, in each case, any Affiliate of any such financial institution through which such financial institution elects, by notice to the Administrative
Agent, to make any Loans available to any Borrower; provided that, for all purposes of voting or consenting with respect to (a) any amendment, supplementation or modification of any Loan Document, (b) any waiver of any requirements
of any Loan Document or any Default or Event of Default and its consequences, or (c) any other matter as to which a Lender may vote or consent pursuant to Section 9.01 of this Agreement, the financial institution making such election shall
be deemed the “Lender” rather than such Affiliate, which shall not be entitled to vote or consent (it being agreed that failure of any such Affiliate to fund an obligation under this Agreement shall not relieve its affiliated financial
institution from funding). 
 “Lending Office” means, as to any Lender, such office or offices as a Lender may
from time to time notify the Borrower and the Administrative Agent. 
 “Lien” means, with respect to any asset,
any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge, security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law,
including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform
Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a Lien. 

“Loan” means an extension of credit by a Lender to any Borrower pursuant to Section 2.01. 

“Loan Documents” means, collectively, (i) this Agreement, (ii) the Notes and (iii) the Security
Documents; provided, that, the Intercreditor Agreement shall not be a Loan Document. 
 “Loan Obligations”
means Obligations in respect of the Loans, this Agreement or the Security Documents owing at any time to any of the Secured Parties. 

“Loan Parties” means, collectively, the Borrower and each Guarantor. 

“Material Adverse Effect” means a material adverse effect on the business, operations, assets, liabilities (actual or
contingent) or financial condition of the Company and its Subsidiaries, taken as a whole. 
 “Maturity Date”
means the date that is eight (8) years after the Closing Date. 
 “Maximum Rate” has the meaning specified
in Section 9.10. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor to its
rating agency business. 
  

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 “Net Income” means, with respect to any Person, the net income (loss) of
such Person and its Subsidiaries that are Covenant Parties or Restricted Subsidiaries, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

“Mortgage” has the meaning specified in Section 6.12(c). 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which
any Borrower, any Restricted Subsidiary or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Net Proceeds” means the aggregate cash proceeds received by any of the Covenant Parties or any of the Restricted
Subsidiaries in respect of any Asset Sale, including any cash received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale, net of the direct costs relating to such Asset Sale and the sale or
disposition of such Designated Non-cash Consideration, including legal, accounting and investment banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof
(after taking into account any available tax credits or deductions and any tax sharing arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on Senior Indebtedness required (other than required by
clause (1) of Section 2.05(b)(i)) to be paid as a result of such transaction and any deduction of appropriate amounts to be provided by a Covenant Party or any of the Restricted Subsidiaries as a reserve in accordance with GAAP against any
liabilities associated with the asset disposed of in such transaction and retained by a Covenant Party or any of the Restricted Subsidiaries after such sale or other disposition thereof, including pension and other post-employment benefit
liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Nielsen” has the meaning set forth in the introductory paragraph to this Agreement. 

“Non-Consenting Lender” has the meaning set forth in Section 3.07(d). 

“Note” means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the
form of Exhibit B hereto, evidencing the aggregate Indebtedness of the Borrower to such Lender resulting from the Loans made by such Lender. 

“NPL” means the National Priorities List under CERCLA. 

“Obligations” means any principal (including any accretion), interest (including any interest accruing subsequent to the
filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), penalties,
fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal (including any accretion),
interest, penalties, fees, indemnifications, 
  

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reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“OFAC” has the meaning specified in Section 5.16. 

“Officer” means the Chairman of the Board, the Chief Executive Officer, the President, any Executive Vice President,
Senior Vice President or Vice President, the Treasurer or the Secretary of the Borrower. 
 “Officer’s
Certificate” means a certificate signed on behalf of the Borrower by an Officer of the Borrower, who must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the
Borrower, that meets the requirements set forth in this Agreement. 
 “Opinion of Counsel” means a written
opinion from legal counsel who is reasonably acceptable to the Administrative Agent and the Initial Required Lenders. 

“Original Notes” means the Issuers’ $650 million in aggregate principal amount of 10% Senior Notes due 2014 and
€150 million aggregate principal amount of 9% Senior Notes due 2014 issued on August 9, 2006. 

“Original Offering Memorandum” means the final Offering Memorandum of the Issuers, dated August 1, 2006, covering
the Original Notes. 
 “Organization Documents” means, (a) with respect to any corporation, the
certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation
or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any
agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate
or articles of formation or organization of such entity. 
 “Other Taxes” has the meaning specified in
Section 3.01(b). 
 “Parent” means Nielsen Company B.V. (f/k/a VNU B.V.). 

“Parent Intercompany Debt” means the intercompany loan of Parent to VNU HF, as in effect on August 9, 2006 after
giving effect to the Transactions. 
 “Pari Passu Indebtedness” has the meaning specified in
Section 2.05(b)(i)(B)(2). 
 “Participant” has the meaning specified in Section 9.07(e). 

 

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 “PATRIOT Act” has the meaning specified in Section 4.01(a).

 “PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Loan Party or any ERISA Affiliate or to which any Loan Party or any ERISA Affiliate contributes or has an obligation to contribute,
or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five (5) plan years. 

“Perfection Certificate” means a certificate in the form of Exhibit D or any other form approved by the Collateral
Agent, as the same shall be supplemented from time to time by a Perfection Certificate Supplement or otherwise. 

“Permitted Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of
Related Business Assets and cash or Cash Equivalents between a Covenant Party or any of the Restricted Subsidiaries and another Person; provided, that any cash or Cash Equivalents received must be applied in accordance with Section 2.05(b)(i).

 “Permitted Holders” means each of the Investors and members of management of a Covenant Party, a Restricted
Subsidiary or any direct or indirect parent entity of the foregoing who are holders of Equity Interests of Parent or its direct or indirect parent organizations on August 9, 2006 and any group (within the meaning of Section 13(d)(3) or
section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided, that, in the case of such group and without giving effect to the existence of such group or any other group, such Investors and
members of management, collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of Parent or any of its direct or indirect parent companies. 

“Permitted Investments” means: 

(1) any Investment in a Covenant Party or any of the Restricted Subsidiaries; 

(2) any Investment in cash and Cash Equivalents or Investment Grade Securities; 

(3) any Investment by a Covenant Party or any of the Restricted Subsidiaries in a Person that is engaged in a Similar Business if as a
result of such Investment: 
 (a) such Person becomes a Restricted Subsidiary; or 

(b) such Person, in one transaction or a series of related transactions, is merged or consolidated with or into, or transfers or conveys
substantially all of its assets to, or is liquidated into, a Covenant Party or a Restricted Subsidiary, 
  

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 and, in each case, any Investment held by such Person; provided, that such Investment was
not acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer; 
 (4) any Investment in
securities or other assets not constituting cash, Cash Equivalents or Investment Grade Securities and received in connection with an Asset Sale made pursuant to the provisions of Section 2.05(b)(i) or any other disposition of assets not
constituting an Asset Sale; 
 (5) any Investment existing on August 9, 2006 or made pursuant to binding commitments in
effect on August 9, 2006 or an Investment consisting of any extension, modification or renewal of any Investment existing on August 9, 2006; provided that the amount of any such Investment may be increased (x) as required by the terms
of such Investment as in existence on August 9, 2006 or (y) as otherwise permitted under this Agreement; 
 (6) any
Investment acquired by a Covenant Party or any of the Restricted Subsidiaries: 
 (a) in exchange for any other Investment or
accounts receivable held by such Covenant Party or any such Restricted Subsidiary in connection with or as a result of a bankruptcy workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable; or

 (b) as a result of a foreclosure by a Covenant Party or any of the Restricted Subsidiaries with respect to any secured
Investment or other transfer of title with respect to any secured Investment in default; 
 (7) Hedging Obligations permitted
under clause (9) of Section 6.05(b); 
 (8) any Investment in a Similar Business having an aggregate fair market
value, taken together with all other Investments made pursuant to this clause (8) or prior to the Closing Date pursuant to the similar provision of the Existing Senior Notes Indenture (without duplication) that are at that time outstanding, not
to exceed 2.5% of Total Assets at the time of such Investment (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

(9) Investments the payment for which consists of Equity Interests (exclusive of Disqualified Stock) of a Covenant Party or any of their
respective direct or indirect parent companies; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under clause (3) of Section 6.03(a); 

(10) guarantees of Indebtedness permitted under Section 6.05; 

(11) any transaction to the extent it constitutes an Investment that is permitted and made in accordance with the provisions of
Section 6.07(b) (except transactions described in clauses (2), (5) and (9) of such paragraph); 
  

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 (12) Investments consisting of purchases and acquisitions of inventory, supplies, material
or equipment; 
 (13) additional Investments having an aggregate fair market value, taken together with all other Investments
made pursuant to this clause (13) or prior to the Closing Date pursuant to the similar provision of the Existing Senior Notes Indenture (without duplication) that are at that time outstanding (without giving effect to the sale of an
Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of cash or marketable securities), not to exceed 2.5% of Total Assets at the time of such Investment (with the fair market value of each Investment being measured at the
time made and without giving effect to subsequent changes in value); 
 (14) Investments relating to a Receivables Subsidiary
that, in the good faith determination of the Borrower are necessary or advisable to effect any Receivables Facility; 
 (15)
advances to, or guarantees of Indebtedness of, employees not in excess of $15 million outstanding at any one time, in the aggregate; 

(16) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other similar
expenses, in each case incurred in the ordinary course of business or consistent with past practices or to fund such Person’s purchase of Equity Interests of the Borrower or any direct or indirect parent company thereof; and 

(17) Investments in joint ventures in an aggregate amount not to exceed $25 million outstanding at any one time, in the aggregate.

 “Permitted Liens” means, with respect to any Person: 

(1) pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good
faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S.
government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case incurred in the ordinary course of business; 

(2) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not yet overdue
for a period of more than 30 days or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other
proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

(3) Liens for taxes, assessments or other governmental charges not yet overdue for a period of more than 30 days or payable or subject to
penalties for nonpayment or which are being contested in good faith by appropriate proceedings diligently conducted, if adequate 

 

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reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

(4) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to other regulatory requirements or letters of
credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; 
 (5) minor
survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of
real properties or Liens incidental, to the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value
of said properties or materially impair their use in the operation of the business of such Person; 
 (6) Liens securing
Indebtedness permitted to be incurred pursuant to clause (4), (11)(b), (17) or (18) of Section 6.05(b); provided that Liens securing Indebtedness permitted to be incurred pursuant to clause (17) extend only to the assets of
Foreign Subsidiaries and Liens securing Indebtedness permitted to be incurred pursuant to clause (18) are solely on acquired property or assets of the acquired entity, as the case may be; 

(7) Liens existing on August 9, 2006; 

(8) Liens on property or shares of stock of a Person at the time such Person becomes a Subsidiary; provided, however, such Liens are not
created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by a Covenant Party or any of the Restricted
Subsidiaries; 
 (9) Liens on property at the time a Covenant Party or a Restricted Subsidiary acquired the property, including
any acquisition by means of a merger or consolidation with or into a Covenant Party or any of the Restricted Subsidiaries; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition;
provided, further, however, that the Liens may not extend to any other property owned by a Covenant Party or any of the Restricted Subsidiaries; 

(10) Liens securing Indebtedness or other obligations of a Covenant Party or a Restricted Subsidiary owing to a Covenant Party or another
Restricted Subsidiary permitted to be incurred in accordance with Section 6.05; 
 (11) Liens securing Hedging Obligations
so long as, in the case of Hedging Obligations related to interest, the related Indebtedness is, and is permitted to be under this Agreement, secured by a Lien on the same property securing such Hedging Obligations; 

(12) Liens on specific items of inventory of other goods and proceeds of any Person securing such Person’s obligations in respect of
bankers’ acceptances issued or created for the 
  

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account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(13) leases, subleases, licenses or sublicenses granted to others in the ordinary course of business which do not materially interfere
with the ordinary conduct of the business of the Covenant Parties or any of the Restricted Subsidiaries and do not secure any Indebtedness; 

(14) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the Covenant
Parties and the Restricted Subsidiaries in the ordinary course of business; 
 (15) Liens in favor of the Borrower or any
Restricted Guarantor; 
 (16) Liens on equipment of a Covenant Party or any of the Restricted Subsidiaries granted in the
ordinary course of business; 
 (17) Liens on accounts receivable and related assets incurred in connection with a Receivables
Facility; 
 (18) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancing,
refunding, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8) and (9); provided, however, that (a) such new Lien shall be limited to all
or part of the same property that secured the original Lien (plus improvements on such property), and (b) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (i) the outstanding
principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8) and (9) at the time the original Lien became a Permitted Lien under this Agreement, and (ii) an amount necessary to pay any
fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; 
 (19)
deposits made in the ordinary course of business to secure liability to insurance carriers; 
 (20) other Liens securing
obligations incurred in the ordinary course of business which obligations do not exceed $50 million at any one time outstanding; 

(21) Liens securing judgments for the payment of money not constituting an Event of Default under clause (5) under Section 7.01
so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings may be initiated has not
expired; 
 (22) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs
duties in connection with the importation of goods in the ordinary course of business; 
  

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 (23) Liens (i) of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking institutions arising as a
matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

(24) Liens deemed to exist in connection with Investments in repurchase agreements permitted under Section 6.05; provided that such
Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 
 (25) Liens encumbering
reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(26) Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given in
connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Covenant Parties or any of the Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary
course of business of the Covenant Parties and the Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the Covenant Parties or any of the Restricted Subsidiaries in the ordinary
course of business; 
 (27) Liens in connection with the Ratable Security of EMTNs, provided no Default has occurred and is
continuing or results therefrom; and 
 (28) any rights of pledge and/or set off pursuant to the general banking terms
(algemene bankvoorwaarden) of the relevant account bank. 
 For purposes of this definition, the term
“Indebtedness” shall be deemed to include interest on and the costs in respect of such Indebtedness. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint
stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established
by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Platform” has the meaning set forth in Section 9.02(d). 

“Preferred Stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation,
dissolution, or winding up. 
 “Prohibition” has the meaning set forth in Section 10.11. 

 

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 “Pro Rata Share” means, with respect to each Lender at any time a fraction
(expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitments of such Lender at such time and the denominator of which is the amount of the Aggregate Commitments at such time;
provided that if such Commitments have been terminated, then the Pro Rata Share of each Lender shall be determined based on the Pro Rata Share of the outstanding Loans. 

“Qualified Proceeds” means assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar
Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Borrower in good faith. 

“Ratable Security of EMTNs” means the granting of security by the Covenant Parties and the Restricted Guarantors to
secure the EMTN Notes on a ratable basis with any secured Indebtedness (as defined under the EMTN Notes) permitted hereunder to the extent required by the terms of the EMTN Notes. 

“Rating Agencies” means Moody’s and S&P or if Moody’s or S&P or both shall not make a corporate family
or corporate credit rating on the Borrower publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Issuers which shall be substituted for Moody’s or S&P or both, as the case may
be. 
 “Real Property” means, collectively, all right, title and interest (including any leasehold, mineral or
other estate) in and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating
thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof. 

“Receivables Facility” means any of one or more receivables financing facilities as amended, supplemented, modified,
extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Covenant Parties or any
of the Restricted Subsidiaries (other than a Receivables Subsidiary) pursuant to which the Covenant Parties or any of the Restricted Subsidiaries sells their accounts receivable to either (a) a Person that is not a Restricted Subsidiary or
(b) a Receivables Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any accounts
receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Receivables Subsidiary” means any Subsidiary formed for the purpose of, and that solely engages only in one or more
Receivables Facilities and other activities reasonably related thereto. 
  

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 “Register” has the meaning set forth in Section 9.07(d). 

“Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business,
provided that any assets received by the Covenant Parties or a Restricted Subsidiary in exchange for assets transferred by the Covenant Parties or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of
securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Release” means any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, dumping, disposing, depositing, dispersing or migrating in, into, onto or through the Environment. 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA or the regulations issued
thereunder, other than events for which the thirty (30) day notice period has been waived. 
 “Required
Lenders” means, as of any date of determination, Lenders having more than 50% of the sum of (a) the Loans and (b) prior to the Closing Date, the aggregate unused Commitments; provided that the unused Commitment of, and the portion
of the Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Restricted Cash” means cash and Cash Equivalents held by Restricted Subsidiaries that is contractually restricted from
being distributed to the Covenant Parties, except for such restrictions that are contained in agreements governing Indebtedness and permitted under this Agreement and that is secured by such cash or Cash Equivalents; provided that such Indebtedness
is included in clause (a) of the definition of, as applicable, Consolidated Senior Secured Debt Ratio or Consolidated Leverage Ratio. 

“Restricted Guarantor” means a Guarantor that is a Covenant Party or a Restricted Subsidiary. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Subsidiary” means, at any time, each direct and indirect Subsidiary of each Covenant Party (including any
Foreign Subsidiary) that is not the Borrower or that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the
definition of “Restricted Subsidiary.” 
 “Reversion Date” has the meaning set forth in
Section 6.14(b). 
 “S&P” means Standard & Poor’s, a division of The McGraw-Hill
Companies, Inc., and any successor to its rating agency business. 
  

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 “Sale and Lease-Back Transaction” means any arrangement providing for the
leasing by a Covenant Party or any of the Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by such Covenant Party or such Restricted Subsidiary to a third Person in
contemplation of such leasing. 
 “Same Day Funds” means immediately available funds. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Second Commitment” has the meaning set forth in Section 2.05(b)(i)(A)(2). 

“Secured Indebtedness” means any Indebtedness of a Covenant Party or any of the Restricted Subsidiaries secured by a
Lien. 
 “Secured Parties” means, collectively, the Administrative Agent, the Arranger, the Collateral Agent,
the Lenders, the Supplemental Agents and each co-agent or sub-agent appointed by the Administrative Agent or Collateral Agent from time to time pursuant to Section 9.02. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Security Agreement” means the Amended and Restated Security Agreement dated as of the Closing
Date among the Borrower, each Subsidiary Loan Party and the First Lien Collateral Agreement, as amended, supplemented or otherwise modified from time to time. 

“Security Documents” means the Security Agreement and the other security agreements, pledge agreements, collateral
assignments, mortgages, and the Intercreditor Agreement, each as amended, supplemented, restated, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified from time to time, creating the security interests in the
Collateral as contemplated by this Agreement. 
 “Senior Credit Facilities” means the Credit Facility under the
Credit Agreement including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and
any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including
any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 6.05). 

“Senior Credit Facilities Obligations” means “Obligations” as defined in the Senior Credit Facilities that are
secured by the Common Collateral on a first priority basis pursuant to the Security Documents. 
  

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 “Senior Credit Facilities Secured Parties” means the “Secured
Parties” as defined in the Senior Credit Facilities constituting Senior Credit Facilities Obligations. 
 “Senior
Indebtedness” means: 
 (1) all Indebtedness of the Borrower or any Guarantor outstanding under the Senior Credit
Facilities, the Existing Senior Notes or the Loans and related Guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar proceeding or for reorganization of the Borrower or any Guarantor (at the rate
provided for in the documentation with respect thereto, regardless of whether or not a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts,
penalties, and other amounts (whether existing on the Closing Date or thereafter created or incurred) and all obligations of the Borrower or any Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit,
acceptances or other similar instruments; 
 (2) all Hedging Obligations (and guarantees thereof) owing to a Lender (as defined
in the Senior Credit Facilities) or any Affiliate of such Lender (or any Person that was a Lender or an Affiliate of such Lender at the time the applicable agreement giving rise to such Hedging Obligation was entered into), provided that such
Hedging Obligations are permitted to be incurred under the terms of this Agreement; 
 (3) any other Indebtedness of the
Borrower or any Guarantor permitted to be incurred under the terms of this Agreement, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Loans or
any related Guarantee; and 
 (4) all Obligations with respect to the items listed in the preceding clauses (1), (2) and
(3); 
 provided, however, that Senior Indebtedness shall not include: 

(a) any obligation of such Person to the Covenant Parties or any of their respective Subsidiaries; 

(b) any liability for federal, state, local or other taxes owed or owing by such Person; 

(c) any accounts payable or other liability to trade creditors arising in the ordinary course of business; provided that obligations
incurred pursuant to the Credit Facilities shall not be excluded pursuant to this clause (c); 
 (d) any Indebtedness or other
Obligation of such Person which is subordinate or junior in any respect to any other Indebtedness or other Obligation of such Person; or 

(e) that portion of any Indebtedness which at the time of incurrence is incurred in violation of this Agreement. 

 

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 “Senior Secured Documents” means the credit, guarantee and security
documents governing the Additional Senior Secured Obligations, including, without limitation, this Agreement and the First Lien Security Documents. 

“Senior Secured Obligations” means, collectively, (a) all Senior Credit Facilities Obligations, (b) the Loan
Obligations and (c) any Series of Additional Senior Secured Obligations. 
 “Senior Secured Parties” means
(a) the Senior Credit Facilities Secured Parties, (b) the Secured Parties and (c) any Additional Senior Secured Parties. 

“Senior Subordinated Discount Notes” means the Issuers’ 12 1/2% Senior Subordinated Discount Notes due 2016 issued
on August 9, 2006. 
 “Series” means (a) with respect to the Senior Secured Parties, each of
(i) the Senior Credit Facilities Secured Parties (in their capacities as such), (ii) the Lenders and the Administrative Agent (each in their capacity as such) and (iii) the Additional Senior Secured Parties that become subject to the
Intercreditor Agreement after the date hereof that are represented by a common Authorized Representative (in its capacity as such for such Additional Senior Secured Parties) and (b) with respect to any Senior Secured Obligations, each of
(i) the Senior Credit Facilities Obligations, (ii) the Loan Obligations and (iii) the Additional Senior Secured Obligations incurred pursuant to any applicable agreement, which pursuant to any joinder agreement, are to be represented
under the Intercreditor Agreement by a common Authorized Representative (in its capacity as such for such Additional Senior Secured Obligations). 

“Significant Party” means any Guarantor or Restricted Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on August 9, 2006. 

“Similar Business” means any business conducted or proposed to be conducted by the Covenant Parties and the Restricted
Subsidiaries on August 9, 2006 or any business that is similar, reasonably related, incidental or ancillary thereto. 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such
date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the
amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would
constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts 

 

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and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“SPC” has the meaning specified in Section 9.07(h). 

“Sponsor Management Agreements” means the advisory agreements between each of ACN and VNU, Inc. and Valcon, in each case
as in effect on August 9, 2006 and giving effect to amendments thereto that, taken as a whole, are not materially adverse to the interests of the Lenders. 

“Sterling Notes” means the Parent’s £149 million 5.63% Senior Notes due 2010. 

“Subordinated Indebtedness” means, 

(1) any Indebtedness of the Borrower which is by its terms subordinated in right of payment to the Loans, and 

(2) any Indebtedness of any Guarantor which is by its terms subordinated in right of payment to the Guarantee of such entity of the
Loans. 
 “Subsidiary” means, with respect to any Person: 

(1) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability company or similar
entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination
owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; and 

(2) any partnership, joint venture, limited liability company or similar entity of which 

(x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership
interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited partnership or
otherwise, and 
 (y) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise
controls such entity. 
 “Successor Company” has the meaning specified in Section 6.11. 

“Supplemental Agent” has the meaning specified in Section 8.13(a) and “Supplemental Agents” shall
have the corresponding meaning. 
 “Suspended Covenants” has the meaning set forth in Section 6.14(a).

  

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 “Suspension Period” has the meaning set forth in Section 6.14(b).

 “Taxes” has the meaning specified in Section 3.01(a). 

“Title Policy” means a policy of title insurance (or marked-up title insurance commitment having the effect of a policy
of title insurance) insuring the Lien of a Mortgage as a valid first mortgage Lien on the mortgaged property and fixtures described therein in the amount equal to not less than the fair market value of such mortgaged property and fixtures, issued by
a title company reasonably acceptable to the Collateral Agent which shall (A) to the extent necessary, include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Collateral
Agent, (B) contain a “tie-in” or “cluster” endorsement, if available under applicable law (i.e., policies which insure against losses regardless of location or allocated value of the insured property up to a stated maximum
coverage amount), (C) have been supplemented by such endorsements (or where such endorsements are not available, opinions of special counsel, architects or other professionals reasonably acceptable to the Collateral Agent) as shall be
reasonably requested by the Collateral Agent (including endorsements on matters relating to usury, first loss, last dollar, zoning, contiguity, revolving credit, doing business, non-imputation, public road access, survey, variable rate,
environmental lien, subdivision, mortgage recording tax, separate tax lot, revolving credit and so-called comprehensive coverage over covenants and restrictions), and (D) contain no exceptions to title other than Liens permitted hereunder.

 “Total Assets” means total assets of the Covenant Parties and the Restricted Subsidiaries on a consolidated
basis, shown on the most recent balance sheet of the Covenant Parties and the Restricted Subsidiaries as may be expressly stated without giving effect to any amortization of the amount of intangible assets since August 9, 2006; provided that in
no event shall the Transactions Intercompany Obligations constitute part of Total Assets. 
 “Transactions”
means the transactions described under “Offering Memorandum Summary—The Transactions” in the Original Offering Memorandum. 

“Transactions Intercompany Obligations” means any intercompany loan made by a Covenant Party or a Restricted Subsidiary
to a Foreign Parent outstanding on August 9, 2006 or made for the purpose of consummating the Transactions. 

“Transferred Guarantor” has the meaning specified in Section 10.09. 

“Treasury Rate” means, as of any Prepayment Date, the yield to maturity as of such Prepayment Date of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the Prepayment Date (or, if such
Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the Prepayment Date to May 1, 2013; provided, however, that if the period from the Prepayment Date to
May 1, 2013 is less than one year, the weekly average 
  

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yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as the same may from time to time
be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“United States” and “U.S.” mean the United States of America. 

“Unrestricted Subsidiary” means: 

(1) any Subsidiary of a Covenant Party which at the time of determination is an Unrestricted Subsidiary (as designated by the Borrower, as
provided below); 
 (2) any Subsidiary of an Unrestricted Subsidiary; and 

(3) from August 9, 2006 through the date on which they were redesignated as Restricted Subsidiaries under the Existing Senior Notes
Indenture each of NetRatings, Inc. and BuzzMetrics, Inc. 
 The Borrower may designate any Subsidiary of a Covenant Party
(including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any
property of, a Covenant Party or any Restricted Subsidiary of a Covenant Party (other than solely any Unrestricted Subsidiary of the Subsidiary to be so designated); provided that (1) any Unrestricted Subsidiary must be an entity of which the
Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a similar function are owned, directly or indirectly, by a
Covenant Party; (2) such designation complies with Section 6.03; and (3) each of: (a) the Subsidiary to be so designated; and (b) its Subsidiaries has not at the time of designation, and does not thereafter, create, incur,
issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of any Covenant Party or any Restricted Subsidiary. 

The Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect to
such designation, no Default shall have occurred and be continuing and either: 
 (1) the Borrower could incur at least $1.00 of
additional Indebtedness pursuant to the Consolidated Leverage Ratio test described in Section 6.05(a); or 
 (2) the
Consolidated Leverage Ratio for the Covenant Parties and the Restricted Subsidiaries would be less than such ratio immediately prior to such designation, 

 

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in each case on a pro forma basis taking into account such designation. 

Any such designation by the Borrower shall be notified by the Borrower to the Administrative Agent by promptly filing with the
Administrative Agent a copy of the resolution of the board of directors of the Borrower or any committee thereof giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing
provisions. 
 “USA Patriot Act” has the meaning specified in Section 5.16. 

“Valcon” means Valcon Acquisition B.V., a private company organized under the laws of The Netherlands, having its
corporate seat in Amsterdam, The Netherlands. 
 “VNU International” means VNU International B.V., a private
company organized under the laws of The Netherlands, having its corporate seat in Haarlem, The Netherlands. 
 “VNU
HF” means Nielsen Holding and Finance B.V. (f/k/a VNU Holding and Finance B.V.). 
 “VNU Senior Discount
Notes” means the 11 1/8% Senior Discount Notes due 2016 issued by Parent on August 9, 2006. 
 “Voting
Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the board of directors of such Person. 

“Weighted Average Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as
the case may be, at any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such Indebtedness or redemption or
similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by (2) the sum of all such payments. 

“wholly owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding
Equity Interests of which (other than (x) director’s qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned Subsidiaries of
such Person. 
 “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the
outstanding Equity Interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person. 

Section 1.02 Other Interpretive Provisions. 

With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

  

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 (a) The meanings of defined terms are equally applicable to the singular and
plural forms of the defined terms. 
 (b) The words “herein,” “hereto,” “hereof”
and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(c) Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

 (d) The term “including” is by way of example and not limitation. 

(e) The term “documents” includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

(f) In the computation of periods of time from a specified date to a later specified date, the word “from” means
“from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(g) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not
affect the interpretation of this Agreement or any other Loan Document. 
 (h) Unless otherwise specifically
indicated, the term “consolidated” with respect to any Person refers to such Person consolidated with the Covenant Parties and the Restricted Subsidiaries, and excludes from such consolidation any Unrestricted Subsidiary as if such
Unrestricted Subsidiary were not an Affiliate of such Person. 
 Section 1.03 Accounting Terms. 

All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data
(including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, except as otherwise specifically prescribed herein. 

Section 1.04 Rounding. 

Any financial ratios required to be maintained by the Covenant Parties pursuant to this Agreement (or required to be satisfied in order
for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding up if there is no nearest number). 
  

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 Section 1.05 References to Agreements, Laws, Etc. 

Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and
other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other
modifications are permitted by the Loan Documents; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 

Section 1.06 Times of Day. 

Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as
applicable). 
 Section 1.07 Timing of Payment of Performance. 

When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on
a day which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day. 

ARTICLE II. 

The Commitments and Borrowings 

Section 2.01 The Loans. 

Subject to the terms and conditions set forth herein, each Lender severally agrees to make to the Borrower on a pro rata basis on the
Closing Date a Loan denominated in Dollars in an aggregate principal amount equal to such Lender’s Commitment; provided that the Closing Date shall not occur prior to the date that is 12 Business Days following the date hereof. Amounts borrowed
under this Section 2.01 and repaid or prepaid may not be reborrowed. The Commitments shall automatically terminate in accordance with Section 2.06. 

Section 2.02 Borrowings of Loans. 

(a) The Borrowing of the Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given
by telephone. Each such notice must be received by the Administrative Agent not later than 12:30 p.m. (New York, New York time) one Business Day prior to the requested date of Borrowing. Each telephonic notice by the Borrower pursuant to this
Section 2.02(a) must be confirmed promptly on the same day by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by an officer of the Borrower. 

(b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly on the same day notify each Lender of the
amount of its Pro Rata Share of the Loans. In the case of the Borrowing, each Lender shall make the amount of its Loan available to 

 

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the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 1:00 p.m. (New York, New York time) on the Business Day specified in the applicable Committed
Loan Notice and in accordance with a funds flow memorandum in form and substance reasonably satisfactory to the Administrative Agent. The Administrative Agent shall make all funds so received available to the Borrower in like funds as received by
the Administrative Agent either by (i) crediting the account of the Borrower on the books of the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided
to (and reasonably acceptable to) the Administrative Agent by the Borrower. 
 (c) The failure of any Lender to make the Loan to
be made by it as part of the Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of the Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to
be made by such other Lender on the date of the Borrowing. 
 Section 2.03 [Reserved.] 

Section 2.04 [Reserved.] 

Section 2.05 Prepayments. 

(a) Optional. (i) At any time prior to June 8, 2013, the Borrowers may, upon notice to the Administrative Agent,
voluntarily prepay Loans in whole or in part at a prepayment price equal to 100% of the principal amount of Loans plus the Applicable Premium as of the date of prepayment (the “Prepayment Date”), together with accrued
interest to the date of such prepayment on the principal amount prepaid. On and after June 8, 2013, the Borrowers may, upon notice to the Administrative Agent at any time and from time to time, voluntarily prepay Loans in whole or in part at
the prepayment percentages specified below, together with accrued interest to the date of such prepayment on the principal amount prepaid: 
  

			
	 PERIOD
	  	PREPAYMENT
PERCENTAGE 
OF
OUTSTANDING
PRINCIPAL AMOUNT
	 During the twelve-month period beginning on June 8, 2013
	  	  104.25%
	 During the twelve-month period beginning on June 8, 2014
	  	102.125%
	 June 8, 2015 and thereafter
	  	100.000%

(ii) With respect to prepayments of Loans pursuant to Section 2.05(a), (1) the optional prepayment notice must
be received by the Administrative Agent not later than 12:30 p.m. (New York, New York time) three (3) Business Days prior to any date of prepayment and shall be in a minimum principal amount of $1,000,000 or a whole

  

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multiple of $500,000 in excess thereof. Each such notice shall specify the date and amount of such prepayment. The Administrative Agent will promptly notify each Lender of its receipt of each
such notice, and of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrowers, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on
the date specified therein. Any prepayment of a Loan shall be accompanied by all accrued interest thereon. 
 (b)
Mandatory. (i) (A) Within 15 months after the receipt of any Net Proceeds of any Asset Sale, such Covenant Party or such Restricted Subsidiary may apply the Net Proceeds from such Asset Sale, at its option: 

(1) to permanently reduce 

(a) Obligations under Senior Secured Obligations and to correspondingly reduce commitments with respect thereto (provided
that (x) to the extent that the terms of the Credit Agreement (or any syndicated credit facility that has substantially refinanced the term facility and/or the revolving facility under the Credit Agreement constituting Senior Secured
Obligations) require that such Senior Credit Facilities Obligations are repaid with the Net Proceeds of Asset Sales prior to repayment of the Loans, the Covenant Parties and the Restricted Subsidiaries shall be entitled to repay such Senior Credit
Facilities Obligations prior to repaying the Loan Obligations and (y) subject to the foregoing clause (x), if the Covenant Parties or the Restricted Subsidiaries shall so reduce Senior Secured Obligations, the Borrower will equally and ratably
reduce the Loan Obligations in any manner set forth in clause (c) below; 
 (b) Indebtedness constituting
Senior Indebtedness other than Senior Secured Obligations so long as the Asset Sale proceeds are with respect to non-Collateral (provided that if the Covenant Parties or the Restricted Subsidiaries shall so reduce Senior Indebtedness, the Borrower
will equally and ratably reduce the Loan Obligations in any manner set forth in clause (c) below); 
 (c)
Loan Obligations by prepaying Loans pursuant to Section 2.05(a), or by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Lenders to prepay their Loans at 100% of the principal amount thereof,
plus the amount of accrued but unpaid interest, if any, on the amount of Loans that would be prepaid; 
 (d)
Indebtedness of a Restricted Subsidiary that is not a Guarantor, other than Indebtedness owed to a Covenant Party or another Restricted Subsidiary; provided that, at any time that the Initial Lenders (together with their respective Affiliates
and Approved Funds) constitute 
  

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Required Lenders, such application may only be made with Net Proceeds from the Asset Sale of non-Collateral; or 

(e) Obligations under Indebtedness that does not constitute Senior Secured Obligations in an aggregate principal amount
not to exceed the Asset Sale Prepayment Amount; or 
 (2) to make (a) an Investment in any one or more
businesses, provided that such Investment in any business is in the form of the acquisition of Capital Stock and results in a Covenant Party or Restricted Subsidiary, as the case may be, owning an amount of the Capital Stock of such business such
that it constitutes a Restricted Subsidiary, (b) properties, (c) capital expenditures or (d) acquisitions of other assets that, in the case of each of (a), (b), (c) and (d) are either (x) used or useful in a Similar
Business or (y) replace the businesses, properties and/or assets that are the subject of such Asset Sale; provided that, in the case of clause (2) above, a binding commitment shall be treated as a permitted application of the Net
Proceeds from the date of such commitment so long as the Covenant Party, or such other Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to satisfy such commitment within 180
days of such commitment (an “Acceptable Commitment”) and, in the event any Acceptable Commitment is later cancelled or terminated for any reason before the Net Proceeds are applied in connection therewith, such Covenant Party or
such Restricted Subsidiary enters into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination; provided further that if any Second Commitment is later cancelled or terminated
for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds. Notwithstanding anything to the contrary, any Net Proceeds from the sale, transfer, conveyance or other disposal of all or substantially
all of the assets of ACN and its Subsidiaries that are Restricted Subsidiaries to the extent otherwise permitted under this Agreement, will be applied in accordance with this paragraph within 12 months after receipt of such Net Proceeds, and the
proviso to the previous sentence with respect to Acceptable Commitments and Second Commitments will not be applicable to the application of such Net Proceeds. 

(B) (1) Any Net Proceeds from Asset Sales of Collateral that are not invested or applied as set forth in clause
(A) above will be deemed to constitute “Collateral Excess Proceeds” When the aggregate amount of Collateral Excess Proceeds exceeds $100.0 million, the Borrower shall make an offer to all Lenders and, if required by the terms
of any Senior Secured Obligations or Obligations secured by a Lien permitted under this Agreement (which Lien is not subordinate to the Lien of the Loans with respect to the Collateral), to the holders of such Senior Secured Obligations or such
other Obligations (a “Collateral Asset Sale Offer”), to purchase or prepay the maximum aggregate principal amount of the Loans and such Senior Secured Obligations or such other Obligations that is a minimum of $2,000 or an integral
multiple of $1,000 in excess 
  

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thereof that may be purchased out of the Collateral Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, plus accrued and unpaid interest and
additional interest, if any, to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Agreement. 

(2) Any Net Proceeds from the Asset Sale of non-Collateral that are not invested or applied as provided and within the
time period set forth in clause (A) above will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $100 million, the Borrower shall make an offer to all Lenders and, if required by
the terms of any Indebtedness that is pari passu with the Loans (“Pari Passu Indebtedness”), to the holders of such Pari Passu Indebtedness (an “Asset Sale Offer”), to purchase or prepay the maximum aggregate
principal amount of the Loans and such Pari Passu Indebtedness that is a minimum of $2,000, or an integral multiple of $1,000 (in each case in aggregate principal amount), that may be purchased out of the Excess Proceeds at an offer price in cash in
an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest and additional interest, if any, to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Agreement. 

To the extent that the aggregate amount of Loans and such other Senior Secured Obligations or Obligations secured by a
Lien permitted by this Agreement (which Lien is not subordinate to the Lien of the Loans with respect to the Collateral) tendered pursuant to a Collateral Asset Sale Offer is less than the Collateral Excess Proceeds, the Borrower may use any
remaining Collateral Excess Proceeds for general corporate purposes, subject to other covenants contained in this Agreement. If the aggregate principal amount of Loans or other Senior Secured Obligations or such other Obligations surrendered by such
holders thereof exceeds the amount of Collateral Excess Proceeds, the Administrative Agent shall apply such amount to the Loans and such other Senior Secured Obligations or such other Obligations to be purchased on a pro rata basis based on the
accreted value or principal amount of the Loans or such other Senior Secured Obligations or such other Obligations tendered. To the extent that the aggregate principal amount of Loans and such Pari Passu Indebtedness tendered pursuant to an Asset
Sale Offer is less than the Excess Proceeds, the Borrower may use any remaining Excess Proceeds for general corporate purposes, subject to the other covenants contained in this Agreement. If the aggregate principal amount of Loans and the Pari Passu
Indebtedness surrendered in an Asset Sale Offer exceeds the amount of Excess Proceeds, the Administrative Agent shall select the Loans and such Pari Passu Indebtedness to be purchased on a pro rata basis based on the principal amount of the Loans
and such Pari Passu Indebtedness tendered. Upon completion of any such Collateral Asset Sale Offer or Asset Sale Offer, the amount of Collateral Excess Proceeds or Excess Proceeds, as applicable, shall be reset at zero. 

(C) Pending the final application of any Net Proceeds pursuant to this Section 2.05(b)(i), the holder of such Net
Proceeds may apply such Net Proceeds 
  

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temporarily to reduce Indebtedness outstanding under a revolving credit facility or otherwise invest such Net Proceeds in any manner not prohibited by this Agreement. 

(D) Within ten Business Days of any date on which the aggregate amount of Collateral Excess Proceeds exceeds $100 million,
the Borrower shall deliver notice of such occurrence to the Administrative Agent, and the Administrative Agent shall promptly deliver such notice to each Lender to the address of such Lender appearing in the Register or otherwise in accordance with
Section 9.02 with the following information: 
 (1) that the Borrower is making an Collateral Asset Sale
Offer pursuant to this Section 2.05(b)(i) and that all Loans and Secured Obligations or other Obligations properly accepted for prepayment or tendered and not withdrawn pursuant to such Collateral Asset Sale Offer will be prepaid by the
Borrower; 
 (2) the prepayment date, which will be no earlier than thirty days nor later than sixty days from
the date on which such notice is delivered (the “Collateral Asset Sale Offer Payment Date”); 

(3) that any Loan not properly accepted for prepayment will remain outstanding and continue to accrue interest;

 (4) that unless the Borrower defaults in making the payment, all Loans accepted for payment pursuant to the
Collateral Asset Sale Offer will cease to accrue interest on the Collateral Asset Sale Offer Payment Date; 
 (5)
that Lenders electing to have any Loans prepaid pursuant to an Collateral Asset Sale Offer will be required to notify the Administrative Agent prior to the close of business on the third Business Day preceding the Collateral Asset Sale Offer Payment
Date; 
 (6) that Lenders will be entitled to withdraw their election to require the Borrower to prepay such
Loans; provided that the Administrative Agent receives, not later than the close of business on the expiration date of the Collateral Asset Sale Offer, a facsimile transmission, electronic mail or letter setting forth the name of such Lender,
the principal amount of Loans to be prepaid, and a statement that such Lender is withdrawing its election to have such Loans prepaid; 

(7) that, to the extent that the aggregate principal amount of Loans or Secured Obligations or other Obligations accepted
for prepayment or surrendered by such holders thereof exceeds the amount of Collateral Excess Proceeds, the Administrative Agent shall apply the Collateral Excess Proceeds as set forth under the last sentence of Section 2.05(b)(i)(B)(1); and

 (8) the other instructions, as determined by the Borrower, consistent with this Section 2.05, that a
Lender must follow. 
  

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 The notice, if delivered in a manner herein provided, shall be conclusively presumed to have
been given, whether or not the Lender receives such notice. If (x) the notice is delivered in a manner herein provided and (y) any Lender fails to receive such notice or a Lender receives such notice but it is defective, such Lender’s
failure to receive such notice or such defect shall not affect the validity of the proceedings for the prepayment of the Loans as to all other Lenders that properly received such notice without defect. 

(E) Within ten Business Days of any date on which the aggregate amount of Excess Proceeds exceeds $100 million, the
Borrower shall deliver notice of such occurrence to the Administrative Agent, and the Administrative Agent shall promptly deliver such notice to each Lender to the address of such Lender appearing in the Register or otherwise in accordance with
Section 9.02 with the following information: 
 (1) that the Borrower is making an Asset Sale Offer pursuant
to this Section 2.05(b)(i) and that all Loans and Pari Passu Indebtedness properly accepted for prepayment or tendered and not withdrawn pursuant to such Asset Sale Offer will be prepaid by the Borrower; 

(2) the prepayment date, which will be no earlier than thirty days nor later than sixty days from the date on which such
notice is delivered (the “Asset Sale Offer Payment Date”); 
 (3) that any Loan not properly
accepted for prepayment will remain outstanding and continue to accrue interest; 
 (4) that unless the Borrower
defaults in making the payment, all Loans accepted for payment pursuant to the Asset Sale Offer will cease to accrue interest on the Asset Sale Offer Payment Date; 

(5) that Lenders electing to have any Loans prepaid pursuant to an Asset Sale Offer will be required to notify the
Administrative Agent prior to the close of business on the third Business Day preceding the Asset Sale Offer Payment Date; 

(6) that Lenders will be entitled to withdraw their election to require the Borrower to prepay such Loans; provided
that the Administrative Agent receives, not later than the close of business on the expiration date of the Asset Sale Offer, a facsimile transmission, electronic mail or letter setting forth the name of such Lender, the principal amount of Loans to
be prepaid, and a statement that such Lender is withdrawing its election to have such Loans prepaid; 
 (7) that,
to the extent that the aggregate principal amount of Loans or the Pari Passu Indebtedness accepted for prepayment or surrendered by such holders thereof exceeds the amount of Excess Proceeds, the Administrative Agent shall apply the Excess Proceeds
as set forth under the last sentence of Section 2.05(b)(i)(B)(2); and 
  

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 (8) the other instructions, as determined by the Borrower, consistent with
this Section 2.05, that a Lender must follow. 
 The notice, if delivered in a manner herein provided, shall be conclusively
presumed to have been given, whether or not the Lender receives such notice. If (x) the notice is delivered in a manner herein provided and (y) any Lender fails to receive such notice or a Lender receives such notice but it is defective,
such Lender’s failure to receive such notice or such defect shall not affect the validity of the proceedings for the prepayment of the Loans as to all other Lenders that properly received such notice without defect. 

(ii) The Borrower shall notify the Administrative Agent in writing of any mandatory prepayment of Loans required to be
made pursuant to Section 2.05(b) at least three (3) Business Days prior to the date of such prepayment. Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such
prepayment. The Administrative Agent will promptly notify each Lender of the contents of the Borrower’s prepayment notice. 

Section 2.06 Termination of Commitments. 

The Commitment of each Lender shall be automatically terminated and permanently reduced to $0 upon the earliest of (a) the making of
such Lender’s Loans pursuant to Section 2.01, (b) 5:00 p.m. (New York, New York time) on the Closing Date and (c) 5:00 p.m. (New York, New York time) on the date that is 20 Business Days after the date of this Agreement.

 Section 2.07 Repayment of Loans. 

The Borrower shall repay to the Administrative Agent in Dollars for the ratable account of the Lenders on the Maturity Date, the
aggregate principal amount of all Loans outstanding on such date. 
 Section 2.08 Interest. 

(a) Subject to the provisions of Section 2.08(b), each Loan shall bear interest on the outstanding principal amount or face amount
thereof at 8.50% (eight and one-half percent) per annum. 
 (b) During the continuance of a Default under
Section 7.01(a)(1), 7.01(a)(2), 7.01(a)(4) or 7.01(a)(6), the Borrower shall pay interest on amounts due hereunder at the Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest on such amounts (including
interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan shall be due and payable in
arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the
commencement of any proceeding under any Debtor Relief Law. 
  

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 Section 2.09 Fees. 

The Borrower shall pay to the Administrative Agent such fees as shall have been separately agreed upon in writing in the amounts and at
the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly agreed between the Borrower and the Administrative Agent). 

Section 2.10 Computation of Interest and Fees. 

All computations of interest shall be made on the basis of a three hundred and sixty (360) day year and actual days elapsed.
Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same day on
which it is made shall, subject to Section 2.12(a), bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

 Section 2.11 Evidence of Indebtedness. 

(a) The Borrowing made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by
one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or
records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Borrowing made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or
any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the
Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may
attach schedules to its Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

(b) [Reserved.] 

(c) Entries made in good faith by the Administrative Agent in the Register pursuant to Section 2.11(a), and by each Lender in its
account or accounts pursuant to Section 2.11(a), shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in
the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of the Administrative Agent or such

  

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Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this
Agreement and the other Loan Documents. 
 Section 2.12 Payments Generally. 

(a) All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or
setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative
Agent’s Office in Same Day Funds not later than 2:00 p.m. (New York, New York time) on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein)
of such payment in like funds as received by wire transfer to such Lender’s applicable Lending Office. All payments received by the Administrative Agent after 2:00 p.m. (New York, New York time) shall be deemed received on the next succeeding
Business Day and any applicable interest or fee shall continue to accrue. 
 (b) If any payment to be made by the Borrower shall
come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

(c) Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is required to be made by it
to the Administrative Agent hereunder, that the Borrower or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume that the Borrower or such Lender, as the case may be, has timely made such payment and may
(but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in Same Day Funds, then:

 (i) if the Borrower failed to make such payment, each Lender shall forthwith on demand repay to the
Administrative Agent the portion of such assumed payment that was made available to such Lender in Same Day Funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative
Agent to such Lender to the date such amount is repaid to the Administrative Agent in Same Day Funds at the applicable Overnight Rate from time to time in effect; and 

(ii) if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the
amount thereof in Same Day Funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the
“Compensation Period”) at a rate per annum equal to the Federal Funds Rate from time to time in effect. When such Lender makes payment to the Administrative Agent (together with all accrued interest thereon), then such payment

  

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amount (excluding the amount of any interest which may have accrued and been paid in respect of such late payment) shall constitute such Lender’s Loan included in the Borrowing. If such
Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative Agent, together with
interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights
which the Administrative Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder. 
 A notice of
the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this Section 2.12(c) shall be conclusive, absent manifest error. 

(d) If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the Borrowing set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(e) [Reserved.] 

(f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to
constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(g) Whenever any payment received by the Administrative Agent under this Agreement or any of the other Loan Documents is insufficient to
pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on any date, such payment shall be distributed by the Administrative Agent and applied by the
Administrative Agent and the Lenders in the order of priority set forth in Section 7.03. If the Administrative Agent receives funds for application to the Loan Obligations of the Loan Parties under or in respect of the Loan Documents under
circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may (to the fullest extent permitted by mandatory provisions of applicable Law), but shall not be obligated to,
elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the Loans outstanding at such time in repayment or prepayment of such of the outstanding Loans then owing to such Lender. 

Section 2.13 Sharing of Payments. 

If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, any payment (whether
voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share 

 

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contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans
made by them as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Loans pro rata with each of them; provided that if all or any portion of such excess payment is thereafter recovered from the
purchasing Lender under any of the circumstances described in Section 9.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender
shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment to
(ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. The Borrower agrees that any
Lender so purchasing a participation from another Lender may, to the fullest extent permitted by applicable Law, exercise all its rights of payment (including the right of setoff, but subject to Section 9.09) with respect to such participation
as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased
under this Section 2.13 and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this Section 2.13 shall from and after such purchase have the right to give
all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations
purchased. 
 ARTICLE III. 

Taxes, Increased Costs Protection and Illegality 

Section 3.01 Taxes. 

(a) Except as provided in this Section 3.01, any and all payments by the Borrower and the Guarantors to or for the account of the
Administrative Agent or any Lender under any Loan Document shall be made free and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges,
excluding, in the case of the Administrative Agent and each Lender, (i) taxes imposed on or measured by its net income (including branch profits taxes), and franchise (and similar) taxes imposed on it in lieu of net income taxes, by the
jurisdiction (or any political subdivision thereof) under the Laws of which the Administrative Agent or such Lender, as the case may be, is organized or maintains a Lending Office, or any other jurisdiction (or any political subdivision thereof) as
a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction (or political subdivision thereof) imposing such tax (other than such connection arising solely from the Administrative Agent or one or
more of the Lender having executed, delivered or performed its obligations or received a payment under, or enforced, any Loan Document), (ii) taxes attributable to the failure by the Administrative Agent or any Lender to deliver the
documentation required to be delivered pursuant to clause (d) of this Section 3.01, or (iii) with respect to a Lender making a Loan to the 

 

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Borrower, any withholding tax that is in effect and would apply to amounts payable hereunder at such time the Lender becomes a party to this Agreement by assignment or designates a new Lending
Office, except to the extent such Lender (or its assignor, if any) was entitled at the time of designation of a new Lending Office (or assignment) to receive additional amounts with respect to such withholding tax pursuant to this Section 3.01
(all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”). If the Borrower or any Guarantor shall be required by
any Laws to deduct any Taxes or Other Taxes from or in respect of any sum payable under any Loan Document to the Administrative Agent or any Lender, (i) the sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section 3.01), each of the Administrative Agent and such Lender receives an amount equal to the sum it would have received had no such deductions been made,
(ii) the Borrower or such Guarantor shall make such deductions, (iii) the Borrower or such Guarantor shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable Laws, and
(iv) within thirty (30) days after the date of such payment (or, if receipts or evidence are not available within thirty (30) days, as soon as possible thereafter), the Borrower shall furnish to the Administrative Agent or such Lender
(as the case may be) the original or a copy of a receipt evidencing payment thereof or other evidence acceptable to the Administrative Agent or such Lender. 

(b) In addition, the Borrower and Guarantors agree to pay any and all present or future stamp, court or documentary taxes and any other
excise, property, intangible or mortgage recording taxes or charges or similar levies which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect
to, any Loan Document (hereinafter referred to as “Other Taxes”). 
 (c) The Borrower and each Guarantor agrees
to indemnify the Administrative Agent and each Lender for (i) the full amount of Taxes and Other Taxes paid by the Administrative Agent and such Lender (including Taxes imposed directly on the Agent or hereunder in lieu of withholding Taxes)
and (ii) any liability (including additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto, provided the Administrative Agent or such Lender, as the case may be, provides the Borrower or such Guarantor with
a written statement thereof setting forth in reasonable detail the basis and calculation of such amounts. 
 (d) Each Lender
shall, at such times as are reasonably requested by the Borrower, provide the Borrower with any documentation prescribed by Law certifying as to the entitlement of such Lender to an exemption from, or reduction in, withholding tax with respect to
all payments to be made to such Lender under the Loan Documents. Unless the Borrower has received forms or other documents satisfactory to it indicating that payments under any Loan Document to or for a Lender are not subject to withholding tax or
are subject to such Tax at a rate reduced by an applicable tax treaty, the Borrower and the Administrative Agent shall withhold amounts required to be withheld by applicable Law from such payments at the applicable statutory rate. Notwithstanding
any other provision of this clause (d), a Lender shall 
  

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not be required to deliver any form pursuant to this clause (d) that such Lender is not legally able to deliver. 

(e) Any Lender claiming any additional amounts payable pursuant to this Section 3.01 shall use its reasonable efforts to change the
jurisdiction of its Lending Office if such a change would reduce any such additional amounts (or any similar amount that may thereafter accrue) and would not, in the sole determination of such Lender, result in any unreimbursed cost or expense or be
otherwise materially disadvantageous to such Lender. 
 (f) If any Lender or the Administrative Agent determines, in its sole
discretion, that it has received a refund in respect of any Taxes or Other Taxes as to which indemnification or additional amounts have been paid to it by the Borrower pursuant to this Section 3.01, it shall promptly remit such refund to the
Borrower or the applicable Guarantor, net of all out-of-pocket expenses of the Lender or the Administrative Agent, as the case may be and without interest (other than any interest paid by the relevant taxing authority with respect to such refund net
of any Taxes payable by the Administrative Agent or any Lender on such interest); provided that the Borrower and Guarantors, upon the request of the Lender or the Administrative Agent, as the case may be, agree promptly to return such refund
to such party in the event such party is required to repay such refund to the relevant taxing authority. 
 Section 3.02
[Reserved.] 
 Section 3.03 [Reserved.] 

Section 3.04 Increased Cost and Reduced Return; Capital Adequacy. 

(a) If any Lender determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation
thereof, in each case after the date hereof, or compliance by such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of
such Lender’s obligations hereunder (taking into consideration its policies with respect to capital adequacy and such Lender’s desired return on capital), then from time to time upon demand of such Lender setting forth in reasonable detail
the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent given in accordance with Section 3.06), the Borrower shall pay to such Lender such additional amounts as will compensate such
Lender for such reduction within fifteen (15) days after receipt of such demand. 
 (b) The Borrower shall pay to each
Lender, as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the
funding of any Loans of the Borrowers, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender
(as determined by such Lender in good faith, which determination shall be conclusive absent manifest error) 
  

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which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Borrowers shall have received at least fifteen (15) days’ prior notice
(with a copy to the Administrative Agent) of such additional interest or cost from such Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost shall be due and
payable fifteen (15) days from receipt of such notice. 
 (c) Failure or delay on the part of any Lender to demand
compensation pursuant to this Section 3.04 shall not constitute a waiver of such Lender’s right to demand such compensation. 

(d) If any Lender requests compensation under this Section 3.04, then such Lender will, if requested by the Borrower, use
commercially reasonable efforts to designate another Lending Office for any Loan affected by such event; provided that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender and its Lending Office(s)
to suffer no material economic, legal or regulatory disadvantage, and provided further that nothing in this Section 3.04(c) shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to
Section 3.04(a) or (b). 
 Section 3.05 [Reserved.] 

Section 3.06 Matters Applicable to All Requests for Compensation. 

(a) The Administrative Agent or any Lender claiming compensation under this Article III shall deliver a certificate to the applicable
Borrower setting forth the additional amount or amounts to be paid to it hereunder which shall be conclusive in the absence of manifest error. In determining such amount, the Administrative Agent or such Lender may use any reasonable averaging and
attribution methods. 
 (b) With respect to any Lender’s claim for compensation under Section 3.01 or 3.04, the
Borrower shall not be required to compensate such Lender for any amount incurred more than one hundred and eighty (180) days prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim; provided
that, if the circumstance giving rise to such claim is retroactive, then such 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

Section 3.07 Replacement of Lenders under Certain Circumstances. 

(a) If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity payments described in Section 3.01
or 3.04 as a result of any condition described in such Sections, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes a Non-Consenting Lender, then the Borrower may, on ten (10) Business Days’ prior written
notice to the Administrative Agent and such Lender, replace such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to Section 9.07(b) (with the assignment fee to be paid by the Borrower in such instance)
all of its rights and obligations under this Agreement to one or more Eligible Assignees; provided that neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a

  

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replacement Lender or other such Person; and provided further that (A) in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments
required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments, (B) in the case of any such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable
Eligible Assignees shall have agreed to, and shall be sufficient (together with all other consenting Lenders) to cause the adoption of, the applicable departure, waiver or amendment of the Loan Documents and (C) the Borrower shall not replace
any Lender pursuant to this Section 3.07 unless each Affiliate or Approved Fund of such Lender which is also a Lender hereunder that is subject to replacement pursuant to this Section 3.07, is at the same time replaced in accordance with
this Section 3.07. 
 (b) Any Lender being replaced pursuant to Section 3.07(a) above shall (i) execute and
deliver an Assignment and Assumption with respect to such Lender’s applicable Commitment and outstanding Loans, and (ii) deliver any Notes evidencing such Loans to the Borrower or Administrative Agent. Pursuant to such Assignment and
Assumption, (A) the assignee Lender shall acquire all or a portion, as the case may be, of the assigning Lender’s Commitment and outstanding Loans, (B) all obligations of the Borrower owing to the assigning Lender relating to the
Loans and Commitments so assigned shall be paid in full, as if such payment were being made by the Borrower pursuant to Section 2.05(a), by the assignee Lender to such assigning Lender concurrently with such Assignment and Assumption and
(C) upon such payment and, if so requested by the assignee Lender, delivery to the assignee Lender of the appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall
cease to constitute a Lender hereunder with respect to such assigned Loans and Commitments, except with respect to indemnification provisions under this Agreement, which shall survive as to such assigning Lender. In connection with any such
replacement, if any such Non-Consenting Lender or Defaulting Lender does not execute and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such replacement within five (5) Business Days of the date on
which the assignee Lender executes and delivers such Assignment and Assumption to such Non-Consenting Lender or Defaulting Lender, then such Non-Consenting Lender or Defaulting Lender shall be deemed to have executed and delivered such Assignment
and Assumption without any action on the part of the Non-Consenting Lender or Defaulting Lender. 
 (c) [Reserved.] 

(d) In the event that (i) the Borrower or the Administrative Agent has requested that the Lenders consent to a departure or waiver
of any provisions of the Loan Documents or agree to any amendment thereto, (ii) the consent, waiver or amendment in question requires the agreement of all affected Lenders in accordance with the terms of Section 9.01 and (iii) the
Required Lenders have agreed to such consent, waiver or amendment, then any Lender who does not agree to such consent, waiver or amendment shall be deemed a “Non-Consenting Lender.” 

 

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 Section 3.08 Survival. 

All of the Borrower’s obligations under this Article III shall survive termination of the Commitments and repayment of all other
Obligations hereunder. 
 ARTICLE IV. 

Conditions Precedent 

Section 4.01 Conditions Precedent. 

The obligation of each Lender to make any Loan hereunder is subject to satisfaction of the following conditions precedent: 

(a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement
signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

 (b) The representations and warranties of each Loan Party contained in Article V or any other Loan Document shall be true and
correct in all material respects on and as of the Closing Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier
date. 
 (c) No Default shall exist or would result from the making or such Loans or from the application of the proceeds
therefrom. 
 (d) The Administrative Agent shall have received a Committed Loan Notice in accordance with the requirements
hereof. 
 (e) The Amended and Restated Security Agreement shall be executed by the First Lien Collateral Agent, the Borrower
and the Subsidiary Loan Parties in the form attached hereto as Exhibit E, together with such changes as shall be reasonably acceptable to the Borrower, the Administrative Agent, the Initial Required Lenders, and the First Lien Collateral Agent and
the Administrative Agent shall have received any additional security documents (other than those relating to foreign collateral) necessary to ensure that the Loan Obligations are ratably secured on the Collateral in a manner consistent with the
Amended and Restated Security Agreement. 
 (f) The Intercreditor Agreement shall be executed by the First Lien Collateral
Agent, the administrative agent under the Credit Agreement and the Administrative Agent in the form attached hereto as Exhibit F, together with such changes as shall be reasonably acceptable to the Borrower, the Administrative Agent, the Initial
Required Lenders, and the administrative agent under the Credit Agreement. 
  

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 (g) The Administrative Agent shall have received, on behalf of itself and the Lenders on the
Closing Date, an opinion in form and substance reasonably satisfactory to the Administrative Agent of O’Melveny & Myers LLP, counsel for the Loan Parties. 

(h) The Administrative Agent shall have received a Perfection Certificate, executed by the Borrower as of the Closing Date. 

(i) The Administrative Agent shall have received in the case of each Loan Party (i) a certificate of the Secretary or Assistant
Secretary or similar officer of each Loan Party dated the Closing Date and certifying: 
 (A) that attached
thereto is a true and complete copy of (x) its charter, by-laws or other organizational document, (y) resolutions duly adopted by the Board of Directors of such Loan Party (or its managing general partner, managing member or equivalent)
authorizing the execution, delivery and performance of the Loan Documents to which such person is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in
full force and effect on the Closing Date, and (z) a good standing certificate from the applicable Governmental Authority of its jurisdiction of incorporation, organization or formation, each dated a recent date prior to the Closing Date, and

 (B) as to the incumbency and specimen signature of each officer executing any Loan Document or any other
document delivered in connection herewith on behalf of such Loan Party; 
 (j) a certificate of a director or an officer as to
the incumbency and specimen signature of the Secretary or Assistant Secretary or similar officer executing the certificate pursuant to clause (i) above; 

(k) The Administrative Agent shall have received a certificate from the Loan Parties’ insurance broker or other evidence reasonably
satisfactory to it that all insurance required to be maintained pursuant to the Senior Credit Facilities in full force and effect; and 

(l) The Borrower shall have paid to the Administrative Agent and each Lender all fees, costs and expenses which are payable hereunder or
pursuant to any fee letter executed by any Loan Party in connection with this Agreement and the transactions contemplated hereby. 

(m) Schedules and exhibits reasonably acceptable to the Initial Required Lenders, the Borrower and the Administrative Agent shall have
been annexed to this Agreement. It is acknowledged and agreed that the existing schedules and exhibits the Credit Agreement are acceptable to the Required Lenders and the Administrative Agent. 

(n) The Credit Agreement shall have been amended to the extent necessary to ensure that the terms thereof do not conflict with this
Agreement and the other Loan Documents. 
  

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 ARTICLE V. 

Representations and Warranties 

Each Loan Party, subject to any general principles of law limiting the obligations of the Loan Parties or their Subsidiaries which are
specifically referred to in any legal opinion delivered in connection with this Agreement, represents and warrants to the Administrative Agent and the Lenders on the Closing Date that: 

Section 5.01 Existence, Qualification and Power; Compliance with Laws. 

Each Loan Party and each Subsidiary (a) is a Person duly organized or formed, validly existing and in good standing (where relevant)
under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to (i) own or lease its assets and carry on its business as currently conducted and (ii) execute, deliver and perform
its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing (where relevant) under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification, (d) is in compliance with all Laws, orders, writs and injunctions and (e) has all requisite governmental licenses, authorizations, consents and approvals to operate its business as currently conducted;
except in each case referred to in clause (c), (d) or (e), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

Section 5.02 Authorization; No Contravention. 

The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party, are within such Loan
Party’s corporate or other powers, (a) have been duly authorized by all necessary corporate or other organizational action, and do not and (b) will not (i) contravene the terms of any of such Person’s Organization Documents,
(ii) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by Section 6.08 under (x) any Contractual Obligation to which such Person is a party or affecting such Person
or the properties of such Person or any of its Subsidiaries or (y) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (iii) violate any
material Law; except with respect to any conflict, breach or contravention (but not creation of Liens) referred to in clause (ii)(x), to the extent that such conflict, breach, contravention or payment could not reasonably be expected to have a
Material Adverse Effect. 
 Section 5.03 Governmental Authorization; Other Consents. 

No material approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or
any other Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party of the Liens
granted by it pursuant to the Security Documents, (c) the perfection or maintenance of the 
  

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Liens created under the Security Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the
remedies in respect of the Collateral pursuant to the Security Documents, except for (i) filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) the
approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect (or will be duly obtained, taken, given or made and will be in full force and effect,
in each case within the time period required to be so obtained, taken, given or made) and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make could not
reasonably be expected to have a Material Adverse Effect. 
 Section 5.04 Binding Effect. 

This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that is a party thereto. This
Agreement and each other Loan Document constitutes, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party thereto in accordance with its terms, except as such enforceability may be limited by
(i) Debtor Relief Laws and by general principles of equity and (ii) the need for filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties and (iii) the
effect of foreign Laws, rules and regulations as they relate to pledges of Equity Interests in Foreign Subsidiaries (other than those pledges made under the Laws of the jurisdiction of formation of the applicable Foreign Subsidiary). 

Section 5.05 Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements fairly present in all material respects the financial condition of the Company and its Subsidiaries
as of the dates thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the periods covered thereby, except as otherwise expressly noted therein. 

(b) The unaudited consolidated balance sheet as at March 31, 2009 and the related unaudited consolidated statements of income and
cash flows for the three-month period ended March 31, 2009, copies of which have heretofore been furnished to each Lender, fairly represent in all material respects the financial condition of the Company and its Subsidiaries as at such date and
their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the periods covered thereby, except as otherwise expressly noted therein. 

(c) Since December 31, 2008, as of the Closing Date there has been no event or circumstance, either individually or in the
aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (d) As of the Closing Date, none
of the Covenant Parties or any of their Subsidiaries has any Indebtedness or other obligations or liabilities, direct or contingent (other than (i) the liabilities reflected on the financial statements referred to in Section 5.05(a) and
(b), 
  

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(ii) obligations arising under this Agreement, and (iii) liabilities incurred in the ordinary course of business that, either individually or in the aggregate, have had or could reasonably
be expected to have a Material Adverse Effect. 
 Section 5.06 Litigation. 

There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened in writing or
contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or any of its Subsidiaries or against any of their properties or revenues that either individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect. 
 Section 5.07 No Default. 

None of the Loan Parties or any of their Subsidiaries is in default under or with respect to, or a party to, any Contractual Obligation
that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 5.08
Ownership of Property; Liens. 
 (a) Each Loan Party and each of its Subsidiaries has good record title to, or valid
leasehold interests in, or easements or other limited property interests in, all Real Property necessary in the ordinary conduct of its business, free and clear of all Liens except as set forth on Schedule 5.08 hereto and except for minor defects in
title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purposes and Liens permitted by Section 6.08 and except where the failure to have such title could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (b) As of the Closing Date, Schedules 8(a) and
8(b) to the Perfection Certificate dated the Closing Date contain a true and complete list of each interest in material Real Property (i) owned by the Covenant Parties and their Subsidiaries as of the Closing Date and describe the type of
interest therein held by each such entity and (ii) leased, subleased or otherwise occupied or utilized by the Covenant Parties and their Subsidiaries, as lessee, sublessee, franchisee or licensee, as of the Closing Date and describe the type of
interest therein held by each such entity. 
 Section 5.09 Environmental Compliance. 

(a) There are no claims, actions, suits, or proceedings alleging potential liability or responsibility for violation of, or otherwise
relating to, any Environmental Law that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Except as specifically disclosed in Schedule 5.09(b) or except as could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, (i) none of the properties currently or formerly owned, leased or operated by any Loan Party or any 

 

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of its Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property; (ii) there are no and
never have been any underground or aboveground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned, leased or
operated by any Loan Party or any of its Subsidiaries or, to its knowledge, on any property formerly owned or operated by any Loan Party or any of its Subsidiaries; (iii) there is no asbestos or asbestos-containing material on any property
currently owned or operated by any Loan Party or any of its Subsidiaries; and (iv) Hazardous Materials have not been released, discharged or disposed of by any Person on any property currently or formerly owned, leased or operated by any Loan
Party or any of its Subsidiaries and Hazardous Materials have not otherwise been released, discharged or disposed of by any Loan Party or any of its Subsidiaries at any other location. 

(c) The properties owned, leased or operated by the Loan Parties and their Subsidiaries do not contain any Hazardous Materials in amounts
or concentrations which (i) constitute, or constituted a violation of, (ii) require remedial action under, or (iii) could give rise to liability under, Environmental Laws, which violations, remedial actions and liabilities,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. 
 (d) Except as
specifically disclosed in Schedule 5.09(d), none of the Loan Parties or their Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial
or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any
Environmental Law except for such investigation or assessment or remedial or response action that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(e) All Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly
owned or operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner not reasonably expected to result, individually or in the aggregate, in a Material Adverse Effect. 

(f) Except as would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, none of the
Loan Parties or any of their Subsidiaries has contractually assumed any liability or obligation under or relating to any Environmental Law. 

Section 5.10 Taxes. 

Except as set forth in Schedule 5.10 and except as could not, either individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect, each of the Loan Parties and their Subsidiaries have filed all tax returns required to be filed, and have paid all taxes levied or imposed upon them or their properties, that are due and payable, except those
(a)
  

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which are not overdue by more than thirty (30) days or (b) which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have
been provided in accordance with GAAP. 
 Section 5.11 ERISA Compliance. 

(a) Except as set forth in Schedule 5.11(a) or as could not, either individually or in the aggregate, reasonably be expected to result in
a Material Adverse Effect, each Plan is in compliance with the applicable provisions of ERISA, the Code and other Federal or state Laws. 

(b) (i) No ERISA Event has occurred during the five year period prior to the date on which this representation is made or deemed made
with respect to any Pension Plan; (ii) no Pension Plan has an “accumulated funding deficiency” (as defined in Section 412 of the Code), whether or not waived; (iii) neither any Loan Party nor any ERISA Affiliate has
incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither any Loan Party nor any ERISA Affiliate
has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a
Multiemployer Plan; and (v) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of the foregoing clauses of this
Section 5.11(b), as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 

(c) The pension schemes of the Loan Parties and the Subsidiaries are funded to the extent required by Law or otherwise to comply with the
requirements of any material Law applicable in the jurisdiction in which the relevant pension scheme is maintained, in each case, except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

 Section 5.12 Subsidiaries; Equity Interests. 

All of the outstanding Equity Interests owned by the Loan Parties (or a Subsidiary of any Loan Party) in any material Subsidiaries have
been validly issued and are fully paid and all Equity Interests owned by a Loan Party (or a Subsidiary of any Loan Party) in such material Subsidiaries are owned free and clear of all Liens except (i) those created under the Security Documents
and (ii) any Lien that is permitted under Section 6.08. 
 Section 5.13 Margin Regulations; Investment Company
Act. 
 (a) No Borrower is engaged nor will it engage, principally or as one of its important activities, in the business of
purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock, and no proceeds of the Borrowing will be used for any purpose that violates
Regulation U. 
  

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 (b) Neither the Borrower, any Person Controlling the Borrower, or any of the Subsidiaries of
the Borrower is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 

Section 5.14 Disclosure. 

To the best of the Borrower’s knowledge, no report, financial statement, certificate or other written information furnished by or on
behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any other Loan Document (as modified or supplemented by other
information so furnished) when taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially
misleading; provided that, with respect to projected financial information and pro forma financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at
the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material. 

Section 5.15 Labor Matters. 

Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: (a) there are no strikes or other
labor disputes against any Loan Party or any of its Subsidiaries pending or, to the knowledge of the Borrower, threatened; (b) hours worked by and payment made to employees of any Loan Party or any of its Subsidiaries have not been in violation
of the Fair Labor Standards Act or any other applicable Laws dealing with such matters; and (c) all payments due from any Loan Party or any of its Subsidiaries on account of employee health and welfare insurance have been paid or accrued as a
liability on the books of the relevant party. 
 Section 5.16 Patriot Act. 

(a) No Loan Party and, to the knowledge of each Loan Party, none of its Affiliates is in violation of any requirement of applicable Law
relating to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”), and the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (the “USA Patriot Act”). 

(b) No Loan Party and, to the knowledge of each Loan Party, no Affiliate or broker or other agent of such Loan Party acting or benefiting
in any capacity in connection with the Loans is any of the following: 
 (i) a person that is listed in the annex
to, or is otherwise subject to the provisions of, the Executive Order; 
  

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 (ii) a person owned or controlled by, or acting for or on behalf of, any
person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order; 

(iii) a person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any
Anti-Terrorism Law; 
 (iv) a person that commits, threatens or conspires to commit or supports
“terrorism” as defined in the Executive Order; or 
 (v) a person that is named as a “specially
designated national and blocked person” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) at its official website or any replacement website or other replacement
official publication of such list. 
 No Loan Party and, to the knowledge of each Loan Party, no broker or other agent of such
Loan Party acting in any capacity in connection with the Loans (i) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any person described in paragraph (b) above,
(ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order, or (iii) engages in or conspires to engage in any transaction that evades or avoids, or has
the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

Section 5.17 Intellectual Property; Licenses, Etc. 

Each of the Loan Parties and their Subsidiaries own, license or possess the right to use, all of the trademarks, service marks, trade
names, domain names, copyrights, patents, patent rights, licenses, technology, software, know-how database rights, design rights and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for
the operation of their respective businesses as currently conducted, and, without conflict with the rights of any Person, except to the extent such conflicts, either individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect. No IP Rights, advertising, product, process, method, substance, part or other material used by any Loan Party or any of its Subsidiaries in the operation of their respective businesses as currently conducted infringes upon
any rights held by any Person except for such infringements, individually or in the aggregate, which could not reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of the IP Rights, is pending or, to the
knowledge of the Borrower, threatened against any Loan Party or any of its Subsidiaries, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

Except pursuant to licenses and other user agreements entered into by each Loan Party in the ordinary course of business, on and as of
the date hereof (i) each Loan Party owns and possesses the right to use, and has done nothing to authorize or enable any other Person to use, any copyright, patent or trademark of any Loan Party and (ii) all registrations of any copyright,

  

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patent or trademark are valid and in full force and effect, except, in each case, to the extent failure to own or possess such right to use or of such registrations to be valid and in full force
and effect could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
 Section
5.18 Solvency. 
 On the Closing Date after giving effect to the Borrowing, the Loan Parties, on a consolidated basis,
are Solvent. 
 Section 5.19 Ranking. 

The Loan Obligations rank at least pari passu with all other Indebtedness of the Loan Parties. 

Section 5.20 Security Documents. 

(a) Security Agreement. The First Lien Security Documents are effective to create in favor of the Collateral Agent for the benefit
of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, the Collateral described therein to the extent intended to be created thereby and upon the execution and delivery of the First Lien Security Documents, the
Liens created by the First Lien Security Documents shall constitute fully perfected Liens on, and security interests in (to the extent intended to be created thereby), all right, title and interest of the grantors in such Collateral to the extent
perfection can be obtained by filing financing statements or taking of other actions which are required thereunder (except to comply with foreign law), in each case to the same extent as the Liens securing the Senior Credit Facilities subject to no
Liens other than Liens permitted hereunder and (pursuant to the Intercreditor Agreement) ranking at least pari passu with the Liens securing the Senior Credit Facilities and all other Senior Secured Obligations. 

(b) Notwithstanding anything herein (including this Section 5.20) or in any other Loan Document to the contrary, no Borrower or any
other Loan Party makes any representation or warranty as to the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or security interest (other than with respect to those pledges and security interests made
under the Laws of the jurisdiction of formation of the applicable Foreign Subsidiary) in any Equity Interests of any Foreign Subsidiary, or as to the rights and remedies of the Agents or any Lender with respect thereto, under foreign Law.

 ARTICLE VI. 

Covenants 

Section 6.01 Reports and Other Information. 

(a) Notwithstanding that the Covenant Parties may not be subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and 

 

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regulations promulgated by the SEC, VNU HF shall file with the SEC (and make available to the Administrative Agent and Lenders (without exhibits), without cost to any Lender, within 15 days after
VNU HF files them with the SEC) from and after the Closing Date, 
 (1) within the time period then in effect
under the rules and regulations of the Exchange Act with respect to the filing of a Form 10-K by a non-accelerated filer, annual reports on Form 10-K, or any successor or comparable form, containing the information required to be contained therein,
or required in such successor or comparable form; 
 (2) within the time period then in effect under the rules
and regulations of the Exchange Act with respect to the filing of a Form 10-Q by a non-accelerated filer, for each of the first three fiscal quarters of each fiscal year, reports on Form 10-Q containing all quarterly information that would be
required to be contained in Form 10-Q, or any successor or comparable form; 
 (3) promptly from time to time
after the occurrence of an event required to be therein reported, such other reports on Form 8-K, or any successor or comparable form; and 

(4) any other information, documents and other reports which the Borrower would be required to file with the SEC if it
were subject to Section 13 or 15(d) of the Exchange Act; 
 in each case, in a manner that complies in all material respects
with the requirements specified in such form; provided that VNU HF shall not be so obligated to file such reports with the SEC if the SEC does not permit such filing, in which event VNU HF shall make available such information to the Administrative
Agent and the Lenders, in each case within 15 days after the time the Borrower would be required to file such information with the SEC, if it were subject to Sections 13 or 15(d) of the Exchange Act; provided, further, that, for the quarter with
respect to which the Borrower notifies the Administrative Agent in writing that Parent intends to switch the currency in which its financial statements are reported, VNU HF shall not be required to make available such information to the
Administrative Agent and the Lenders until 90 days after the end of such quarter. 
 (b) If any direct or indirect parent
company of VNU HF is a Guarantor of the Loans, the Covenant Parties may satisfy their obligations under this Section 6.01 with respect to financial information relating to the Covenant Parties by furnishing financial information relating to
such parent; provided that the same is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such parent, on the one hand, and the information relating to the Covenant Parties
and the Restricted Subsidiaries on a standalone basis, on the other hand. 
  

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 (c) The Borrower shall be deemed to have furnished such reports referred to above to the
Administrative Agent and the Lenders if VNU HF has filed such reports with the SEC via the EDGAR or IDEA filing system and such reports are publicly available. 

Section 6.02 Compliance Certificate. 

(a) The Borrower shall deliver to the Administrative Agent, within 90 days after the end of each fiscal year ending after the Closing
Date, a certificate from the principal executive officer, principal financial officer or principal accounting officer stating that a review of the activities of the Borrower and the Restricted Subsidiaries during the preceding fiscal year has been
made under the supervision of the signing Officer with a view to determining whether the Borrower has kept, observed, performed and fulfilled its obligations under this Agreement, and further stating, as to such Officer signing such certificate,
that to the best of his or her knowledge the Borrower has kept, observed, performed and fulfilled each and every condition and covenant contained in this Agreement and are not in default in the performance or observance of any of the terms,
provisions, covenants and conditions of this Agreement (or, if a Default shall have occurred, describing all such Defaults of which he or she may have knowledge and what action the Borrower is taking or propose to take with respect thereto).

 (b) When any Default has occurred and is continuing under this Agreement, or if the Administrative Agent or the holder of any
other evidence of Indebtedness of the Borrower or any Restricted Subsidiary gives any notice or takes any other action with respect to a claimed Default, the Borrower shall promptly (which shall be no more than five (5) Business Days) deliver
to the Administrative Agent by registered or certified mail or by facsimile transmission an Officer’s Certificate specifying such event and what action the Borrower proposes to take with respect thereto. 

Section 6.03 Limitation on Restricted Payments. 

(a) The Covenant Parties will not, and will not permit any Restricted Subsidiary to, directly or indirectly: 

(I) declare or pay any dividend or make any payment or distribution on account of any Covenant Parties’ or any
Restricted Subsidiaries’ Equity Interests, including any dividend or distribution payable in connection with any merger or consolidation other than: 

(i) dividends or distributions payable solely in Equity Interests (other than Disqualified Stock) of a Covenant Party or a
Restricted Subsidiary; or 
 (ii) dividends or distributions by a Covenant Party (other than VNU HF) or a
Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities issued by a Covenant Party (other than VNU HF) or such Restricted Subsidiary, a Covenant Party or another
Restricted Subsidiary receives at least its pro rata share of such 
  

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dividend or distribution in accordance with its Equity Interests in such class or series of securities; 

(II) purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of VNU HF or any direct or
indirect parent of VNU HF, including in connection with any merger or consolidation; 
 (III) make any principal
payment on, or redeem, repurchase, defease or otherwise acquire or retire for value in each case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness, or make any interest or principal payment on, or
redeem, repurchase or otherwise acquire or retire for value the Parent Intercompany Debt, other than: 
 (i)
Indebtedness permitted under Section 6.05(b)(7); or 
 (ii) the purchase, repurchase or other acquisition of
Subordinated Indebtedness of the Covenant Parties and their Restricted Subsidiaries purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase,
repurchase or acquisition; or 
 (IV) make any Restricted Investment 

(all such payments and other actions set forth in clauses (I) through (IV) above being collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment: 
 (1) no Default shall have occurred and be
continuing or would occur as a consequence thereof; 
 (2) immediately after giving effect to such transaction on
a pro forma basis, the Borrower could incur $1.00 of additional Indebtedness pursuant to the Consolidated Leverage Ratio test set forth in Section 6.05(a); and 

(3) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Covenant
Parties and the Restricted Subsidiaries after August 9, 2006 (including Restricted Payments permitted by clauses (1), (2) (with respect to the payment of dividends on Refunding Capital Stock (as defined below) pursuant to clause
(b) thereof only), (6)(c), (9) and (14) of Section 6.03(b), but excluding all other Restricted Payments permitted by Section 6.03(b)), is less than the sum of (without duplication): 

(a) the EBITDA of the Covenant Parties and the Restricted Subsidiaries on a consolidated basis for the period beginning
July 1, 2006, to the end of the Borrower’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment, less the 

 

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product of 1.4 times the Consolidated Interest Expense of the Covenant Parties and the Restricted Subsidiaries for the same period; plus 

(b) 100% of the aggregate net cash proceeds and the fair market value, as determined in good faith by the Borrower, of
marketable securities or other property received by a Covenant Party or a Restricted Subsidiary since immediately after August 9, 2006 (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness,
Disqualified Stock or Preferred Stock pursuant to clause (11)(a) of Section 6.05(b)) from the issue or sale of: 

(i)(A) Equity Interests of VNU HF, or a direct or indirect parent company of VNU HF, including Treasury Capital Stock (as
defined below), but excluding cash proceeds and the fair market value, as determined in good faith by the Borrower, of marketable securities or other property received from the sale of: 

(x) Equity Interests to members of management, directors or consultants of Parent, the Covenant Parties, Restricted
Subsidiaries and any direct or indirect parent company of VNU HF, after August 9, 2006 to the extent such amounts have been applied to Restricted Payments made in accordance with clause (4) of Section 6.03(b); and 

(y) Designated Preferred Stock; and 

(B) to the extent such net cash proceeds are actually contributed to a Covenant Party or any Restricted Subsidiary,
Equity Interests of VNU HF’s direct or indirect parent companies (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions to the extent such amounts have been applied to Restricted
Payments made in accordance with clause (4) of Section 6.03(b)); or 
 (ii) debt securities of a
Covenant Party or any Restricted Subsidiary that have been converted into or exchanged for such Equity Interests of VNU HF, or a direct or indirect parent company of VNU HF; 

provided, however, that this clause (b) shall not include the proceeds from (W) Refunding Capital Stock (as defined below),
(X) Equity Interests or convertible debt securities sold to a Covenant Party or Restricted Subsidiary, as the case may be, (Y) Disqualified Stock or debt securities that have been converted into Disqualified Stock or (Z) Excluded
Contributions; plus 
 (c) 100% of the aggregate amount of cash and the fair market value, as determined
in good faith by the Borrower, of marketable securities or other 
  

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property contributed to the capital of a Covenant Party following August 9, 2006 (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness,
Disqualified Stock or Preferred Stock pursuant to clause (11)(a) of Section 6.05(b) (other than by another Covenant Party or a Restricted Subsidiary and other than any Excluded Contributions); plus 

(d) 100% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Borrower,
of marketable securities or other property received by a Covenant Party or a Restricted Subsidiary by means of: 

(iii) the sale or other disposition (other than to a Covenant Party or a Restricted Subsidiary) of Restricted Investments
made by the Covenant Parties or the Restricted Subsidiaries and repurchases and redemptions of such Restricted Investments from the Covenant Parties or the Restricted Subsidiaries and repayments of loans or advances, and releases of guarantees,
which constitute Restricted Investments by the Covenant Parties or the Restricted Subsidiaries, in each case after August 9, 2006; or 

(iv) the sale (other than to a Covenant Party or a Restricted Subsidiary) of the stock of an Unrestricted Subsidiary
(other than to the extent the Investment in such Unrestricted Subsidiary was made by a Covenant Party or a Restricted Subsidiary pursuant to clause (7) of Section 6.03(b) or to the extent such Investment constituted a Permitted Investment)
or a dividend or distribution from an Unrestricted Subsidiary after August 9, 2006; plus 
 (e) in
the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after August 9, 2006, the fair market value of the Investment in such Unrestricted Subsidiary, as determined by the Borrower in good faith or if such fair
market value may exceed $150 million, in writing by an Independent Financial Advisor, at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary other than an Unrestricted Subsidiary, to the extent the Investment in
such Unrestricted Subsidiary was made by a Covenant Party or a Restricted Subsidiary pursuant to clause (7) of Section 6.03(b) or to the extent such Investment constituted a Permitted Investment. 

(b) The foregoing provisions of Section 6.03(a) will not prohibit: 

(1) the payment of any dividend within 60 days after the date of declaration thereof, if at the date of declaration such payment would
have complied with the provisions of the Agreement; 
  

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 (2)(a) the redemption, repurchase, retirement or other acquisition of any (i) Equity
Interests (“Treasury Capital Stock”) or Subordinated Indebtedness of the Borrower or any Guarantor or the Parent Intercompany Debt or (ii) Equity Interests of any direct or indirect parent company of VNU HF, in the case of each
of clause (i) and (ii), in exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Covenant Party or a Restricted Subsidiary) of, Equity Interests of VNU HF, or any direct or indirect parent company of VNU HF
to the extent contributed to a Covenant Party or any Restricted Subsidiary (in each case, other than any Disqualified Stock) (“Refunding Capital Stock”), (b) the declaration and payment of dividends on the Treasury Capital
Stock out of the proceeds of the substantially concurrent sale (other than to a Covenant Party or a Restricted Subsidiary) of the Refunding Capital Stock, and (c) if immediately prior to the retirement of Treasury Capital Stock, the declaration
and payment of dividends thereon was permitted under clause (6) of this paragraph and not made pursuant to clause (2)(b), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds
of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent company of VNU HF) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were
declarable and payable on such Treasury Capital Stock immediately prior to such retirement; 
 (3) the redemption, repurchase or
other acquisition or retirement of Subordinated Indebtedness of the Borrower or a Restricted Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the Borrower or a Restricted Guarantor,
as the case may be, which is incurred in compliance with Section 6.05 so long as: 
 (a) the principal
amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness being so redeemed, repurchased,
acquired or retired for value, plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired and any fees and expenses incurred in
connection with the issuance of such new Indebtedness; 
 (b) such new Indebtedness is subordinated to the Loans
or the applicable Guarantee at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, acquired or retired for value; 

(c) such new Indebtedness has a final scheduled maturity date equal to or later than the final scheduled maturity date of
the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired; and 
 (d) such new
Indebtedness has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired; 

 

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 (4) a Restricted Payment to pay for the repurchase, retirement or other acquisition or
retirement for value of Equity Interests (other than Disqualified Stock) of VNU HF or any of its direct or indirect parent companies held by any future, present or former employee, director or consultant of a Covenant Party, any of their respective
Subsidiaries or any of their respective direct or indirect parent companies pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement; provided, however, that the aggregate Restricted
Payments made under this clause (4) do not exceed in any calendar year (plus, without duplication, “unused amounts” being carried over pursuant to the similar provision in the Existing Senior Notes Indenture) $25 million (which shall
increase to $50 million subsequent to the consummation of an underwritten public Equity Offering of common stock) (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect
to the following proviso) of $50 million in any calendar year (which shall increase to $100 million subsequent to the consummation of an underwritten public Equity Offering of common stock)); provided further that such amount in any calendar year
may be increased by an amount not to exceed: 
 (a) the cash proceeds from the sale of Equity Interests (other
than Disqualified Stock) of VNU HF and, to the extent contributed to a Covenant Party, Equity Interests of any of the direct or indirect parent companies of VNU HF, in each case to members of management, directors or consultants of the Covenant
Parties, any of their respective Subsidiaries or any of their respective direct or indirect parent companies that occurs after August 9, 2006, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been
applied to the payment of Restricted Payments by virtue of clause (3) of Section 6.03(a); plus  

(b) the cash proceeds of key man life insurance policies received by the Covenant Parties or any of the Restricted
Subsidiaries after August 9, 2006; plus  
 (c) the amount of any cash bonuses otherwise payable to
members of management, directors or consultants of a Covenant Party, any of its Subsidiaries or any of its direct or indirect parent companies in connection with the Transactions that are foregone in return for the receipt of Equity Interests;
less  
 (d) the amount of any Restricted Payments previously made with the cash proceeds described in
clauses (a) and (b) of this clause (4); 
 and provided further that cancellation of Indebtedness owing to any Covenant Party or any
Restricted Subsidiary from members of management of Parent, any of its Subsidiaries or its direct or indirect parent companies in connection with a repurchase of Equity Interests of Parent or any of Parent’s direct or indirect parent companies
will not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision of this Agreement; 

(5) the declaration and payment of dividends to holders of any class or series of Disqualified Stock of any of the Covenant Parties or
any of the Restricted Subsidiaries issued in accordance with Section 6.05; 
  

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 (6)(a) the declaration and payment of dividends to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) issued by any of the Covenant Parties or any of the Restricted Subsidiaries after August 9, 2006, provided that the amount of dividends paid pursuant to this clause (a) shall not
exceed the aggregate amount of cash actually received by a Covenant Party or a Restricted Subsidiary from the issuance of such Designated Preferred Stock; 

(b) a Restricted Payment to a direct or indirect parent company of a Covenant Party or any of the Restricted Subsidiaries,
the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of such parent corporation issued after August 9, 2006, provided that the amount
of Restricted Payments paid pursuant to this clause (b) shall not exceed the aggregate amount of cash actually contributed to a Covenant Party or a Restricted Subsidiary from the sale of such Designated Preferred Stock; or 

(c) the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends
declarable and payable thereon pursuant to clause (2) of this Section 6.03(b); 
 provided, however, in the case of each of (a),
(b) and (c) of this clause (6), that for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or the
declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect to such issuance or declaration on a pro forma basis, the Consolidated Leverage Ratio shall be no greater than 6.75 to 1.00; 

(7) Investments in Unrestricted Subsidiaries having an aggregate fair market value, taken together with all other Investments made
pursuant to this clause (7) or after August 9, 2006, but before the Closing Date, under the similar provision in the Existing Senior Notes Indenture, that are at the time outstanding, without giving effect to the sale of an Unrestricted
Subsidiary to the extent the proceeds of such sale do not consist of cash or marketable securities, not to exceed 1.25% of Total Assets, in each case, at the time of such Investment (with the fair market value of each Investment being measured at
the time made and without giving effect to subsequent changes in value); 
 (8) repurchases of Equity Interests deemed to occur
upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 

(9) the declaration and payment of dividends on a Covenant Party’s common stock (or a Restricted Payment to any direct or indirect
parent entity to fund a payment of dividends on such entity’s common stock), following the first public Equity Offering of common stock after the Closing Date, of up to 6% per annum of the net cash proceeds received by or contributed to a
Covenant Party in or from any such public Equity Offering; 
  

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 (10) Restricted Payments that are made with Excluded Contributions; 

(11) other Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause
(11) or after August 9, 2006, but before the Closing Date, under the similar provision in the Existing Senior Notes Indenture, not to exceed 2.00% of Total Assets at the time made; 

(12) distributions or payments of Receivables Fees; 

(13) any Restricted Payment used to fund the Transactions and the fees and expenses related thereto or owed to Affiliates, in each case
to the extent permitted by Section 6.07; 
 (14) the repurchase, redemption or other acquisition or retirement for value of
any Subordinated Indebtedness (a) pursuant to the provisions similar to those described under Section 6.09 and Section 2.05(b); provided that all Loans submitted by Lenders in connection with a Change of Control Offer or Asset Sale
Offer, as applicable, have been repurchased, redeemed or acquired for value or (b) with the proceeds of Asset Sales in an amount not to exceed the Asset Sale Prepayment Amount; 

(15) the declaration and payment of dividends by a Covenant Party or a Restricted Subsidiary to, or the making of loans to, any of their
respective direct or indirect parents, or the making of any payment of interest or principal on, or redemption, repurchase, defeasance or other acquisition or retirement for value of, the Parent Intercompany Debt in amounts required for any direct
or indirect parent companies to pay, in each case without duplication, 
 (a) franchise taxes and other fees,
taxes and expenses required to maintain their corporate existence; 
 (b) federal, foreign, state and local
income taxes provided that, in each fiscal year, the amount of such payments shall be equal to the amount that the Covenant Parties and the Restricted Subsidiaries would be required to pay in respect of federal, foreign, state and local income taxes
if such entities were corporations paying taxes separately from any parent entity at the highest combined applicable federal, foreign, state and local tax rate for such fiscal year; 

(c) customary salary, bonus and other benefits payable to officers and employees of any direct or indirect parent company
of the Covenant Parties and the Restricted Subsidiaries to the extent such salaries, bonuses and other benefits are attributable to the ownership or operation of the Covenant Parties and the Restricted Subsidiaries; 

(d) general corporate operating and overhead costs and expenses of any direct or indirect parent company of the Covenant
Parties and the Restricted Subsidiaries to the extent such costs and expenses are attributable to the ownership or operation of the Covenant Parties and the Restricted Subsidiaries; 

 

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 (e) fees and expenses incurred in connection with the Transactions or owed
to Affiliates, in each case to the extent permitted by the covenant described under Section 6.07; 
 (f)
interest payable on Holdings Debt; 
 (g) amounts payable to Valcon Acquisition, B.V. by Parent pursuant to the
Sponsor Management Agreements; and 
 (h) fees and expenses other than to Affiliates of the Borrower related to
any unsuccessful equity or debt offering of such parent entity; 
 (16) the distribution, by dividend or otherwise, of shares of
Capital Stock of, or Indebtedness owed to a Covenant Party or a Restricted Subsidiary by Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Cash Equivalents); 

(17) any Restricted Payment used to fund the redemption of VNU’s 7% preferred shares as in effect on August 9, 2006;

 (18) any Restricted Payment of the proceeds of Indebtedness incurred to refinance the Sterling Notes or the VNU Senior
Discount Notes and to pay accrued and unpaid interest, premium, fees and expenses related thereto; 
 (19) the forgiveness,
cancellation, termination or disposition of the Transactions Intercompany Obligations; 
 (20) payments or distributions to
dissenting stockholders pursuant to applicable law, pursuant to or in connection with a consolidation, merger or transfer of all or substantially all of the assets of the Covenant Parties and the Restricted Subsidiaries, taken as a whole, that
complies with Section 6.11; provided that as a result of such consolidation, merger or transfer of assets, the Borrower shall have made a Change of Control Offer and that all Loans surrendered by Lenders in connection with such Change of
Control Offer have been repurchased, redeemed or acquired for value; and 
 (21) any Restricted Payment in respect of the
Ratable Security of EMTNs; 
 provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under
clauses (11), (16) and (18), no Default shall have occurred and be continuing or would occur as a consequence thereof. 
 As of the Closing
Date, all of the Subsidiaries of the Covenant Parties will be Restricted Subsidiaries. The Borrower will not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the last sentence of the definition of
“Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Covenant Parties and the Restricted Subsidiaries (except to the extent repaid)

  

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in the Subsidiary so designated will be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of “Investment.” Such designation
will be permitted only if a Restricted Payment in such amount would be permitted at such time, whether pursuant to Section 6.03(a) or under clause (7), (10), (11) or (16) of Section 6.03(b), or pursuant to the definition of
“Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries will not be subject to any of the restrictive covenants set forth in this Agreement. 

Section 6.04 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

(a) The Covenant Parties will not, and will not permit any of the Restricted Subsidiaries that are not Guarantors to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to: 

(1)(a) pay dividends or make any other distributions to the Covenant Parties or any of the Restricted Subsidiaries on its
Capital Stock or with respect to any other interest or participation in, or measured by, its profits, or 
 (b)
pay any Indebtedness owed to the Covenant Parties or any of the Restricted Subsidiaries; 
 (2) make loans or
advances to the Covenant Parties or any of the Restricted Subsidiaries; or 
 (3) sell, lease or transfer any of
its properties or assets to the Covenant Parties or any of the Restricted Subsidiaries, 
 except (in each case) for such
encumbrances or restrictions existing under or by reason of: 
 (a) contractual encumbrances or restrictions in
effect on August 9, 2006 including pursuant to the Senior Credit Facilities and the related documentation and the Senior Subordinated Discount Notes and the related indenture; 

(b) the Loan Documents; 

(c) purchase money obligations for property acquired in the ordinary course of business that impose restrictions of the
nature discussed in Section 6.04(a)(3) on the property so acquired; 
 (d) applicable law or any applicable
rule, regulation or order; 
 (e) any agreement or other instrument of a Person acquired by any of the Covenant
Parties or any of the Restricted Subsidiaries in existence at the time of such 
  

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acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person and its
Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired; 
 (f) contracts for the
sale of assets, including customary restrictions with respect to a Subsidiary of (i) a Covenant Party or (ii) a Restricted Subsidiary, pursuant to an agreement that has been entered into for the sale or disposition of all or substantially
all of the Capital Stock or assets of such Subsidiary that impose restrictions on the assets to be sold; 
 (g)
Secured Indebtedness otherwise permitted to be incurred pursuant to Section 6.05 and Section 6.08 that limit the right of the debtor to dispose of the assets securing such Indebtedness; 

(h) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; 
 (i) other Indebtedness, Disqualified Stock or Preferred Stock of Foreign Subsidiaries
permitted to be incurred subsequent to August 9, 2006 pursuant to Section 6.05; 
 (j) customary
provisions in joint venture agreements and other similar agreements relating solely to such joint venture; 
 (k)
customary provisions contained in leases or licenses of intellectual property and other agreements, in each case, entered into in the ordinary course of business; 

(l) any encumbrances or restrictions of the type referred to in clauses (1), (2) and (3) of Section 6.04(a)
imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (a) through (k) above; provided that
such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Borrower, no more restrictive with respect to such encumbrance and other restrictions
taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing; and 

(m) restrictions created in connection with any Receivables Facility that, in the good faith determination of the Borrower
are necessary or advisable to effect such Receivables Facility. 
  

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 Section 6.05 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock
and Preferred Stock. 
 (a) The Covenant Parties will not, and will not permit any of the Restricted Subsidiaries to,
directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently, or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any
Indebtedness (including Acquired Indebtedness) and the Borrower and the Restricted Guarantors will not issue any shares of Disqualified Stock and will not permit any Restricted Subsidiary that is not a Guarantor to issue any shares of Disqualified
Stock or Preferred Stock; provided, however, that the Borrower and the Restricted Guarantors may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any Restricted Subsidiary that is not a Guarantor may
incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and issue shares of Preferred Stock, if the Consolidated Leverage Ratio at the time such additional Indebtedness is incurred or such Disqualified Stock or
Preferred Stock is issued would have been no greater than 6.75 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock
or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of the most recently ended four fiscal quarters for which internal financial statements are available. 

(b) The foregoing limitations of Section 6.05(a) will not apply to: 

(1) the incurrence of Indebtedness under Credit Facilities by the Covenant Parties or any of the Restricted Subsidiaries
and the issuance and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof), up to an aggregate principal
amount of $6,000 million outstanding at any one time (including any Indebtedness incurred or represented by the Loans or any Additional Senior Secured Obligations by the Borrower or any Guarantor, the proceeds of which Loans or Additional Senior
Secured Obligations are used to repay such Credit Facilities); 
 (2) [reserved]; 

(3) Indebtedness of the Covenant Parties and the Restricted Subsidiaries in existence on the Closing Date (other than
Indebtedness described in clause (1) of this Section 6.05(b)); 
 (4) Indebtedness (including
Capitalized Lease Obligations), Disqualified Stock and Preferred Stock incurred by the Covenant Parties or any of the Restricted Subsidiaries, to finance the purchase, lease or improvement of property (real or personal) or equipment that is used or
useful in a Similar Business, whether through the direct purchase of assets or the Capital Stock of any Person owning such assets; 
  

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 (5) Indebtedness incurred by a Covenant Party or any Restricted Subsidiary
constituting reimbursement obligations with respect to letters of credit issued in the ordinary course of business, including letters of credit in respect of workers’ compensation claims, or other Indebtedness with respect to reimbursement type
obligations regarding workers’ compensation claims; provided, however, that upon the drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence;

 (6) Indebtedness arising from agreements of a Covenant Party or a Restricted Subsidiary providing for
indemnification, adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person
acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition; provided, however, that 

(a) such Indebtedness is not reflected on the balance sheet (other than by application of FIN 45 as a result of an
amendment to an obligation in existence on August 9, 2006) of a Covenant Party or any Restricted Subsidiary (contingent obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet will not be
deemed to be reflected on such balance sheet for purposes of this clause (6)(a)); and 
 (b) the maximum
assumable liability in respect of all such Indebtedness shall at no time exceed the gross proceeds including non-cash proceeds (the fair market value of such non-cash proceeds being measured at the time received and without giving effect to any
subsequent changes in value) actually received by the Covenant Parties and the Restricted Subsidiaries in connection with such disposition; 

(7) Indebtedness of a Covenant Party or a Restricted Subsidiary to another Covenant Party or another Restricted
Subsidiary; provided that any such Indebtedness owing by the Borrower or a Guarantor to a Restricted Subsidiary that is not a Guarantor is expressly subordinated in right of payment to the Loans; provided further that any subsequent issuance or
transfer of any Capital Stock or any other event which results in any Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to a Covenant Party or another Restricted Subsidiary
or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (7); 

(8) shares of Preferred Stock of a Restricted Subsidiary issued to a Covenant Party or another Restricted Subsidiary,
provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock
(except to a Covenant Party or a Restricted Subsidiary) shall be 
  

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deemed in each case to be an issuance of such shares of Preferred Stock not permitted by this clause (8); 

(9) Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes) for the purpose of limiting
interest rate risk with respect to any Indebtedness permitted to be incurred pursuant to this covenant, exchange rate risk or commodity pricing risk; 

(10) obligations in respect of performance, bid, appeal and surety bonds and completion guarantees provided by any of the
Covenant Parties or any of the Restricted Subsidiaries in the ordinary course of business or consistent with past practice; 

(11)(a) Indebtedness or Disqualified Stock of the Borrower or any Restricted Guarantor and Indebtedness, Disqualified
Stock or Preferred Stock of any Restricted Subsidiary that is not a Guarantor in an aggregate principal amount or liquidation preference equal to 200.0% of the net cash proceeds received by the Covenant Parties and the Restricted Subsidiaries since
immediately after August 9, 2006 from the issue or sale of Equity Interests of VNU HF or any direct or indirect parent entity of VNU HF (which proceeds are contributed to a Covenant Party or a Restricted Subsidiary) or cash contributed to the
capital of a Covenant Party (in each case, other than proceeds of Disqualified Stock or sales of Equity Interests to, or contributions received from, any Covenant Party or any of their respective Subsidiaries) as determined in accordance with
clauses (3)(b) and (3)(c) of Section 6.03(a) to the extent such net cash proceeds or cash have not been applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to
Section 6.03(b) or to make Permitted Investments (other than Permitted Investments specified in clauses (1) and (3) of the definition thereof) and (b) Indebtedness or Disqualified Stock of the Borrower or a Restricted Guarantor
and Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary that is not a Guarantor not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal
amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred pursuant to this clause (11)(b), does not at any one time outstanding exceed $400 million (it being understood that any
Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this clause (11)(b) shall cease to be deemed incurred or outstanding for purposes of this clause (11)(b) but shall be deemed incurred for the purposes of
Section 6.05(a) from and after the first date on which a Covenant Party or such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under the first paragraph of this covenant without reliance on
this clause (11)(b)); 
 (12) the incurrence by a Covenant Party or any Restricted Subsidiary of Indebtedness,
Disqualified Stock or Preferred Stock which serves to refund or refinance: 
  

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 (a) any Indebtedness, Disqualified Stock or Preferred Stock incurred as
permitted under Section 6.05(a) and clauses (3) and (11)(a), this clause (12) and clause (13) of Section 6.05(b), or 

(b) any Indebtedness, Disqualified Stock or Preferred Stock issued to so refund or refinance the Indebtedness,
Disqualified Stock or Preferred Stock described in clause (a) of this Section 6.05(b)(12), 
 including, in each case,
additional Indebtedness, Disqualified Stock or Preferred Stock incurred to pay premiums (including tender premiums), defeasance costs and fees and expenses in connection therewith (collectively, the “Refinancing Indebtedness”) prior to its
respective maturity; provided, however, that such Refinancing Indebtedness: 
 (A) has a Weighted Average Life
to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded or refinanced, 

(B) to the extent such Refinancing Indebtedness refinances (i) Indebtedness subordinated or pari passu to the Loans
or any Guarantee thereof, such Refinancing Indebtedness is subordinated or pari passu to the Loans or the Guarantee at least to the same extent as the Indebtedness being refinanced or refunded or (ii) Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively, and 
 (C) shall not
include: 
 (i) Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary that is not a
Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Borrower; 
 (ii)
Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary that is not a Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Guarantor; or 

(iii) Indebtedness, Disqualified Stock or Preferred Stock of a Covenant Party or a Restricted Subsidiary that refinances
Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary; 
 and provided further that subclause
(A) of this clause (12) will not apply to any refunding or refinancing of Indebtedness under a Credit Facility; 
  

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 (13) Indebtedness, Disqualified Stock or Preferred Stock of (x) a
Covenant Party or a Restricted Subsidiary incurred to finance an acquisition or (y) Persons that are acquired by a Covenant Party or any Restricted Subsidiary or merged into a Covenant Party or a Restricted Subsidiary in accordance with the
terms of this Agreement; provided that either 
 (i) such Indebtedness, Disqualified Stock or Preferred Stock:

 (a) is not Secured Indebtedness and is subordinated to the Loans on terms no less favorable to the holders
thereof than the subordination terms set forth in the indenture governing the Senior Subordinated Discount Notes as in effect on August 9, 2006; 

(b) is not incurred while a Default exists and no Default shall result therefrom; and 

(c) matures and does not require any payment of principal prior to the final maturity or the Loans (other than in a
manner consistent with the terms of this Agreement); or 
 (ii) after giving effect to such acquisition or
merger, either 
 (a) the Borrower would be permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Consolidated Leverage Ratio test set forth in the Section 6.05(a), or 
 (b) the
Consolidated Leverage Ratio is less than immediately prior to such acquisition or merger; 
 (14) Indebtedness
arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business, provided that such Indebtedness is extinguished within two Business Days
of its incurrence; 
 (15) Indebtedness of a Covenant Party or any of the Restricted Subsidiaries supported by a
letter of credit issued pursuant to the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; 

(16)(a) any guarantee by a Covenant Party or a Restricted Subsidiary of Indebtedness or other obligations of any Covenant
Party that is not the Borrower or any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Agreement, or 

(b) any guarantee by a Covenant Party or a Restricted Subsidiary of Indebtedness of the Borrower; provided that such
guarantee is incurred in accordance with Section 6.10; 
  

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 (17) Indebtedness of Foreign Subsidiaries of a Covenant Party or any
Restricted Subsidiary incurred not to exceed at any one time outstanding and together with any other Indebtedness incurred under this clause (17) 5.0% of the Total Assets of the Foreign Subsidiaries (it being understood that any Indebtedness
incurred pursuant to this clause (17) shall cease to be deemed incurred or outstanding for purposes of this clause (17) but shall be deemed incurred for the purposes of Section 6.05(a) from and after the first date on which such
Foreign Subsidiary could have incurred such Indebtedness under the first paragraph of this covenant without reliance on this clause (17)); 

(18) Indebtedness, Disqualified Stock or Preferred Stock of a Covenant Party or a Restricted Subsidiary incurred to
finance or assumed in connection with an acquisition in a principal amount not to exceed $200 million in the aggregate at any one time outstanding together with all other Indebtedness, Disqualified Stock and/or Preferred Stock issued under this
clause (18) (it being understood that any Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this clause (18) shall cease to be deemed incurred or outstanding for purposes of this clause (18) but shall be deemed
incurred for the purposes of Section 6.05(a) from and after the first date on which such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under Section 6.05(a) without reliance on this
clause (18)); 
 (19) Indebtedness of a Covenant Party or any of the Restricted Subsidiaries consisting of
(i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply arrangements in each case, incurred in the ordinary course of business; 

(20) Indebtedness consisting of Indebtedness issued by a Covenant Party or any of the Restricted Subsidiaries to current
or former officers, directors and employees thereof or any direct or indirect parent thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of a Covenant Party, a
Restricted Subsidiary or any of their respective direct or indirect parent companies to the extent described in clause (4) of Section 6.03(b); 

(21) Indebtedness incurred on behalf of, or representing Guarantees of Indebtedness of, joint ventures of a Covenant Party
or any Restricted Subsidiary not in excess of $25 million at any time outstanding; and 
 (22) Indebtedness
incurred by reason of granting the Ratable Security of EMTNs. 
 (c) For purposes of determining compliance with this
Section 6.05: 
 (1) in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion
thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (1) through (22) of 

 

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Section 6.05(b) or is entitled to be incurred pursuant to Section 6.05(a), the Borrower, in its sole discretion, will classify or reclassify such item of Indebtedness, Disqualified
Stock or Preferred Stock (or any portion thereof) and will only be required to include the amount and type of such Indebtedness, Disqualified Stock or Preferred Stock in one of the above clauses; provided that all Indebtedness outstanding under the
Credit Facilities on the Closing Date will be treated as incurred on the Closing Date under clause (1) of Section 6.05(b); and 

(2) at the time of incurrence, the Borrower will be entitled to divide and classify an item of Indebtedness in more than one of the types
of Indebtedness described in Section 6.05(a) and Section 6.05(b) above. 
 Accrual of interest, the accretion of
accreted value and the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as applicable, will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for
purposes of this Section 6.05. 
 For purposes of determining compliance with any U.S. dollar-denominated restriction on
the incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in
the case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S.
dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal
amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 
 The
principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which
such respective Indebtedness is denominated that is in effect on the date of such refinancing. 
 Notwithstanding anything to
the contrary, the Borrower will not, and will not permit any Restricted Guarantor to, directly or indirectly, incur any Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness of the
Borrower or such Restricted Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of payment to the Loans or such Restricted Guarantor’s Guarantee to the extent and in the same manner as such Indebtedness is
subordinated to other Indebtedness of the Borrower or such Restricted Guarantor, as the case may be. 
 For purposes of this
Agreement, Indebtedness that is unsecured is not deemed to be subordinated or junior to Secured Indebtedness merely because it is unsecured, and Senior Indebtedness is not deemed to be subordinated or junior to any other Senior Indebtedness merely
because it has a junior priority with respect to the same collateral. 
  

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 Section 6.06 Asset Sales. 

(a) The Covenant Parties will not, and will not permit any of the Restricted Subsidiaries to, cause, make or suffer to exist an Asset
Sale, unless: 
 (1) a Covenant Party or such Restricted Subsidiary, as the case may be, receives consideration
at the time of such Asset Sale at least equal to the fair market value (as determined in good faith by the Borrower) of the assets sold or otherwise disposed of; and 

(2) except in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by a Covenant Party
or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: 

(a) any liabilities (as shown on such Covenant Party’s or such Restricted Subsidiary’s most recent balance sheet
or in the footnotes thereto) of a Covenant Party or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the Loans, that are assumed by the transferee of any such assets and for which the Covenant Parties and
all of the Restricted Subsidiaries have been validly released by all creditors in writing, 
 (b) any securities
received by such Covenant Party or such Restricted Subsidiary from such transferee that are converted by such Covenant Party or such Restricted Subsidiary into cash (to the extent of the cash received) within 180 days following the closing of such
Asset Sale, and 
 (c) any Designated Non-cash Consideration received by such Covenant Party or such Restricted
Subsidiary in such Asset Sale having an aggregate fair market value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (c) that is at that time outstanding, not to exceed 5.0% of Total Assets at
the time of the receipt of such Designated Non-cash Consideration, with the fair market value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value, shall be
deemed to be cash for purposes of this provision and for no other purpose; and 
 (3) if such Asset Sale involves
the disposition of Collateral, such Covenant Party or such Restricted Subsidiary has complied with the provisions of this Agreement and the Security Documents. 

Section 6.07 Transaction with Affiliates. 

(a) The Covenant Parties will not, and will not permit any of the Restricted Subsidiaries to, make any payment to, or sell, lease,
transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the

  

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benefit of, any Affiliate of the Borrower (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $20 million, unless: 

(1) such Affiliate Transaction is on terms that are not materially less favorable to the relevant Covenant Party or the
relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by such Covenant Party or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; and 

(2) the Borrower delivers to the Administrative Agent with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate payments or consideration in excess of $50 million, a resolution adopted by the majority of the board of directors of the Borrower approving such Affiliate Transaction and set forth in an Officer’s
Certificate certifying that such Affiliate Transaction complies with clause (1) of this Section 6.07(a). 
 (b) The
foregoing provisions of Section 6.07(a) will not apply to the following: 
 (1) transactions between or
among the Covenant Parties or any of the Restricted Subsidiaries; 
 (2) Restricted Payments permitted by
Section 6.03 and Permitted Investments; 
 (3) the payment of management, consulting, monitoring,
transaction, advisory and termination fees and related expenses to Valcon Acquisition, B.V., in each case pursuant to the Sponsor Management Agreements; 

(4) the payment of reasonable and customary fees paid to, and indemnities provided on behalf of, Officers, directors,
employees or consultants of Covenant Parties, any of their direct or indirect parent companies or any of the Restricted Subsidiaries; 

(5) transactions in which any of the Covenant Parties or any of the Restricted Subsidiaries, as the case may be, delivers
to the Administrative Agent a letter from an Independent Financial Advisor stating that such transaction is fair to such Covenant Party or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially less
favorable to such Covenant Party or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by such Covenant Party or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis;

 (6) any agreement as in effect as of August 9, 2006 or any amendment thereto (so long as any such
amendment is not disadvantageous to the Lenders when taken as a whole as compared to the applicable agreement as in effect on August 9, 2006); 

(7) the existence of, or the performance by the Covenant Parties or any of the Restricted Subsidiaries of its obligations
under the terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of August 9, 2006 and any similar agreements which it may enter

  

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into thereafter; provided, however, that the existence of, or the performance by the Covenant Parties or any of the Restricted Subsidiaries of obligations under any future amendment to any such
existing agreement or under any similar agreement entered into after August 9, 2006 shall only be permitted by this clause (7) to the extent that the terms of any such amendment or new agreement are not otherwise disadvantageous to the
Lenders when taken as a whole; 
 (8) the Transactions and the payment of all fees and expenses related to the
Transactions, in each case as disclosed in the Original Offering Memorandum; 
 (9) transactions with customers,
clients, suppliers, or purchasers or sellers of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Agreement which are fair to the Covenant Parties and the Restricted Subsidiaries,
in the reasonable determination of the board of directors of the Borrower or the senior management thereof, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party; 

(10) the issuance of Equity Interests (other than Disqualified Stock) of VNU HF to its direct or indirect parent or to any
Permitted Holder or the contribution to the common equity of any Covenant Party or Restricted Subsidiary; 
 (11)
sales of accounts receivable, or participations therein, in connection with any Receivables Facility; 
 (12)
payments by a Covenant Party or any of the Restricted Subsidiaries to any of the Investors made for any financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including, without
limitation, in connection with acquisitions or divestitures which payments are approved by a majority of the board of directors of the Borrower in good faith; 

(13) payments or loans (or cancellation of loans) to employees or consultants of the Covenant Parties, any of their direct
or indirect parent companies or any of the Restricted Subsidiaries and employment agreements, stock option plans and other similar arrangements with such employees or consultants which, in each case, are approved by the Borrower in good faith;

 (14) Investments by the Investors, a Foreign Parent or any direct or indirect parent of a Foreign Parent in
securities of the Covenant Parties or any of the Restricted Subsidiaries so long as (i) the investment is being offered generally to other investors on the same or more favorable terms and (ii) the investment constitutes less than 5% of
the proposed or outstanding issue amount of such class of securities; and 
 (15) transactions in connection with
the Ratable Security of EMTNs. 
  

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 Section 6.08 Liens. 

The Covenant Parties will not, and will not permit any Restricted Guarantor to, directly or indirectly, create, incur, assume or suffer
to exist any Lien (except Permitted Liens) that secures obligations under any Indebtedness or any related Guarantee, on any asset or property of the Borrower or any Restricted Guarantor, or any income or profits therefrom, or assign or convey any
right to receive income therefrom, other than Liens securing Junior Lien Obligations that are junior in priority (pursuant to the Intercreditor Agreement or any other intercreditor agreement reasonably acceptable to the Administrative Agent) to the
Liens on such property, assets or proceeds securing the Loans and related Guarantees. 
 The foregoing shall not apply to
(a) Liens securing the Loans and the related Guarantees, (b) Liens securing Indebtedness permitted to be incurred under Credit Facilities, including any letter of credit facility relating thereto, that was permitted by the terms of this
Agreement to be incurred pursuant to clause (1) of Section 6.05(b) and (c) Liens on the Common Collateral which are pari passu with the Liens securing the Loans and the related Guarantees and are incurred to secure Additional Senior
Secured Obligations constituting Indebtedness permitted to be incurred pursuant to Section 6.05; provided that, with respect to Liens securing Additional Senior Secured Obligations permitted under this subclause (c), at the time of incurrence
and after giving pro forma effect thereto, the Consolidated Senior Secured Debt Ratio would be no greater than 4.75 to 1.0; provided that with respect to Liens securing Senior Secured Obligations permitted under subclause (b) and this subclause
(c), the Loans are secured by Liens on the assets subject to such Liens to the extent, with the priority and subject to intercreditor arrangements, in each case no less favorable to the Lenders than the terms of the Security Documents. 

Section 6.09 Offer to Purchase Upon Change of Control. 

(a) If a Change of Control occurs, unless the Borrower has previously or concurrently mailed a prepayment notice with respect to all the
outstanding Loans pursuant to Section 2.05(a), the Borrower shall make an offer to prepay all of the Loans pursuant to the offer described below (the “Change of Control Offer”) at a price in cash (the “Change of Control
Payment”) equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest to the date of prepayment. Within 30 days following any Change of Control, the Borrower shall deliver a notice of such Change of Control
Offer to the Administrative Agent, the Administrative Agent shall promptly deliver such notice to each Lender to the address of such Lender appearing in the Register, with the following information: 

(1) that a Change of Control Offer is being made pursuant to this Section 6.09 and that all Loans properly submitted
pursuant to such Change of Control Offer will be prepaid by the Borrower; 
 (2) the purchase price and the
purchase date, which will be no earlier than 30 days nor later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
  

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 (3) that any Loan not properly accepted will remain outstanding and continue
to accrue interest; 
 (4) that unless the Borrower defaults in the payment of the Change of Control Payment, all
Loans accepted for payment pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 

(5) that Lenders electing to have any Loans prepaid pursuant to a Change of Control Offer will be required to notify the
Administrative Agent prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(6) that Lenders will be entitled to withdraw their election to require the Borrower to prepay such Loans, provided that
the Administrative Agent receives, not later than the close of business on the 30th day following the date of the Change of Control notice, a telegram, telex, facsimile transmission or letter setting forth the name of the Lender, the principal
amount of Loans to be prepaid, and a statement that such Lender is withdrawing its election to have such Loans prepaid; 

(7) if such notice is delivered prior to the occurrence of a Change of Control, stating that the Change of Control Offer
is conditional on the occurrence of such Change of Control; and 
 (8) that if the Borrower is repaying less than
all of the Loans, the Lenders of the remaining Loans will hold Loans in a principal amount equal to the amount of the Loans not prepaid. The non-repaid portion of the Loans must be equal to a minimum of $2,000 or an integral multiple of $1,000
in each case in principal amount; and 
 (9) the other instructions, as determined by the Borrower, consistent
with this Section 6.09, that a Lender must follow. 
 The notice, if mailed in a manner herein provided, shall be
conclusively presumed to have been given, whether or not a Lender receives such notice. If (a) the notice is mailed in a manner herein provided and (b) any Lender fails to receive such notice or a Lender receives such notice but it is
defective, such Lender’s failure to receive such notice or such defect shall not affect the validity of the proceedings for the prepayment of the Loans as to all other Lenders that properly received such notice without defect. 

(b) On the Change of Control Payment Date, the Borrower will, to the extent permitted by law, 

(1) prepay all Loans or portions thereof properly accepted in accordance with Section 6.09 and pursuant to the Change
of Control Offer, and 
 (2) deposit with the Administrative Agent an amount equal to the aggregate Change of
Control Payment in respect of all Loans or portions thereof accepted for prepayment. 
  

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 (c) The Borrower shall not be required to make a Change of Control Offer following a Change
of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Agreement applicable to a Change of Control Offer made by the Borrower and prepays all
Loans validly tendered and not withdrawn under such Change of Control Offer. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a
definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 
 Section 6.10
Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. 
 The Covenant Parties will not permit any
Restricted Subsidiary that is a Wholly-Owned Subsidiary of a Covenant Party (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries guarantee other capital markets debt securities), other than a Guarantor or a Foreign Subsidiary of
a Domestic Subsidiary, to guarantee the payment of any Indebtedness of the Borrower or any other Guarantor unless: 
 (a) such
Restricted Subsidiary within 30 days executes and delivers a joinder to this Agreement providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Indebtedness of the Borrower or any Guarantor: 

(1) if the Loans or such Guarantor’s Guarantee are subordinated in right of payment to such Indebtedness, the
Guarantee provided under the joinder shall be subordinated to such Restricted Subsidiary’s guarantee with respect to such Indebtedness substantially to the same extent as the Loans are subordinated to such Indebtedness; and 

(2) if such Indebtedness is by its express terms subordinated in right of payment to the Loans or such Guarantor’s
Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to such Guarantee substantially to the same extent as such Indebtedness is subordinated to the Loans or such
Guarantor’s Guarantee; and 
 (b) such Restricted Subsidiary shall within 30 days deliver to the Administrative Agent an
Opinion of Counsel reasonably satisfactory to the Administrative Agent; 
 provided that this Section 6.10 shall not be applicable
to any guarantee of any Restricted Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary. 

Section 6.11 Merger, Consolidation or Sale of All or Substantially All Assets. 

(a) Neither Borrower nor VNU HF may consolidate or merge with or into or wind up into (whether or not such Person is the surviving
corporation), and VNU HF may not sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the properties or assets of 

 

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the Covenant Parties and the Restricted Subsidiaries, taken as a whole, in one or more related transactions, to any Person unless: 

(1) such Borrower or VNU HF, as applicable, is the surviving corporation or the Person formed by or surviving any such
consolidation or merger (if other than such Borrower or VNU HF, as applicable) or the Person to whom such sale, assignment, transfer, lease, conveyance or other disposition will have been made is organized or existing under the laws of the United
States, any state thereof, the District of Columbia, or any territory thereof (such Person, as the case may be, being herein called the “Successor Company”); 

(2) the Successor Company, if other than such Borrower or VNU HF, as applicable, expressly assumes all the obligations of
such Borrower under the Loans and the Security Documents or VNU HF under its Guarantee and the Security Documents, as applicable, pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the
Administrative Agent; 
 (3) immediately after such transaction, no Default exists; 

(4) immediately after giving pro forma effect to such transaction and any related financing transactions, as if such
transactions had occurred at the beginning of the applicable four-quarter period, 
 (a) the Successor Company
would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Consolidated Leverage Ratio test set forth in Section 6.05(a), or 

(b) the Consolidated Leverage Ratio would be less than such ratio immediately prior to such transaction; 

(5) each Guarantor, unless it is the other party to the transactions described above, in which case clause (1)(b) of
Section 6.11(c) shall apply, shall have by amendment or joinder confirmed that its Guarantee shall apply to such Person’s obligations under this Agreement and the Loans; 

(6) the Borrower shall have delivered to the Administrative Agent an Officer’s Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and such amendments or joinder, if any, comply with this Agreement; 

(7) the Successor Company causes such amendments, supplements or other instruments to be executed, delivered, filed and
recorded, as applicable, in such jurisdictions as may be required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or transferred to the Successor Company; 

 

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 (8) the Collateral owned by or transferred to the Successor Company shall
(a) continue to constitute Collateral under this Agreement and the Security Documents, (b) be subject to the Lien in favor of the Collateral Agent for the benefit of the Secured Parties, and (c) not be subject to any Lien other than
Liens permitted by Section 6.08; and 
 (9) the property and assets of the Person which is merged or
consolidated with or into the Successor Company, to the extent that they are property or assets of the types which would constitute Collateral under the Security Documents, shall be treated as after-acquired property and the Successor Company shall
take such action as may be reasonably necessary to cause such property and assets to be made subject to the Lien of the Security Documents in the manner and to the extent required in this Agreement. 

(b) The Successor Company will succeed to, and be substituted for such Borrower or VNU HF, as applicable, as the case may be, under this
Agreement and the Guarantees, as applicable. Notwithstanding the foregoing clauses (3) and (4) of Section 6.11(a), 

(1) any Covenant Party or Restricted Subsidiary may consolidate with or merge into or transfer all or part of its
properties and assets to the Borrower or Restricted Guarantor; and 
 (2) the Borrower may merge with an
Affiliate of such Borrower, as the case may be, solely for the purpose of reorganizing such Borrower in a State of the United States so long as the amount of Indebtedness of the Covenant Parties and the Restricted Subsidiaries is not increased
thereby. 
 (c) Subject to releases permitted by Section 10.09, no Restricted Guarantor will, and the Covenant Parties will
not permit any Restricted Guarantor to, consolidate or merge with or into or wind up into (whether or not the Borrower or Restricted Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its properties or assets, in one or more related transactions, to any Person unless: 

(1)(a) such Restricted Guarantor is the surviving corporation or the Person formed by or surviving any such consolidation
or merger (if other than such Restricted Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation organized or existing under the laws of the jurisdiction of organization of
such Restricted Guarantor, as the case may be, or the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (such Restricted Guarantor or such Person, as the case may be, being herein called the
“Successor Person”); 
 (b) the Successor Person, if other than such Restricted Guarantor, expressly
assumes all the obligations of such Restricted Guarantor under this Agreement and such Restricted Guarantor’s related Guarantee pursuant to amendments, joinders or other documents or instruments in form reasonably satisfactory to the
Administrative Agent; 
  

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 (c) immediately after such transaction, no Default exists; and 

(d) the Borrower shall have delivered to the Administrative Agent an Officer’s Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Agreement; or 

(2) in the case of any Restricted Guarantor other than VNU HF, the transaction does not violate Section 6.06.

 (d) In the case of Section 6.11(c)(1) above, the Successor Person will succeed to, and be substituted for, such
Restricted Guarantor under this Agreement and such Restricted Guarantor’s Guarantee. Notwithstanding the foregoing, any Restricted Guarantor may merge into or transfer all or part of its properties and assets to another Restricted Guarantor or
the Borrower. 
 Notwithstanding the foregoing, solely for purposes of this Section 6.11, the sale, transfer, conveyance or
other disposal of ACN and its Subsidiaries that are Restricted Subsidiaries shall not constitute a sale, transfer, conveyance or other disposal of all or substantially all of the assets of the Covenant Parties and the Restricted Subsidiaries, taken
as a whole, so long as, at the time of such transaction, (a) the EBITDA of ACN and its Restricted Subsidiaries on a consolidated basis for the four most recently ended fiscal quarters for which internal financial statements are available
represented less than 45% of the EBITDA of the Covenant Parties and the Restricted Subsidiaries on a consolidated basis for the same four-quarter period and (b) the Covenant Parties and the Restricted Subsidiaries would be permitted to incur at
least $1.00 of additional Indebtedness pursuant to the Consolidated Leverage Ratio test set forth in Section 6.05(a). 

Section 6.12 Additional Collateral and Guarantors 

(a) Subject to Section 6.13, upon the acquisition by the Borrower or any Guarantor of any First Priority After-Acquired
Property, the Borrower or such Guarantor shall execute and deliver such mortgages, deeds of trust, deeds to secure debt, preferred ship mortgages, security instruments, financing statements and certificates, opinions of counsel or such
other documentation substantially similar to the documentation delivered to secure Senior Credit Facility Obligations (including, without limitation title insurance policies, surveys and other documentation as may be reasonably required by
the Collateral Agent and consistent with the requirements for similar Collateral in which security interest or Liens were taken on the Closing Date) as shall be reasonably necessary to vest in the Collateral Agent, for the benefit of the
Secured Parties, a perfected first priority security interest or lien, subject only to Permitted Liens, in such First Priority After-Acquired Property and to have such First Priority After-Acquired Property (but subject to certain limitations, if
applicable, including as described the Security Documents) added to the Collateral, and thereupon all provisions of this Agreement relating to the Collateral shall be deemed to relate to such First Priority After-Acquired Property to the same
extent and with the same force and effect to the extent required hereunder. The Borrower and the Guarantors shall take such actions as may be required to ensure that the Loan Obligations are at all times secured on collateral at least ratably with
the Senior Credit Facility 
  

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Obligations and all other Secured Obligations pursuant to the First Lien Security Documents. In the event that any Subsidiary of VNU HF shall at any time be or become a guarantor of the Senior
Credit Facility Obligations or any other Senior Secured Obligations, the Borrower shall cause such Subsidiary concurrently to become a party to this Agreement as a Guarantor pursuant to a guaranty supplement and such other documentation as the
Administrative Agent may reasonably require. 
 Section 6.13 Post-Closing Requirements. 

As soon as reasonably practicable after the Closing Date, but not later than ninety (90) days after the Closing Date (subject to
extension by the Collateral Agent and the Administrative Agent in their reasonable discretion), deliver each First Lien Security Document set forth on Schedule 6.13(a), duly executed by each Loan Party party thereto, together with all
documents and instruments required to perfect the security interest of the Collateral Agent in the Collateral having the priority required by the Loan Documents. 

Section 6.14 Notices under Senior Credit Facilities, Information and Inspection. 

(a) The Borrower shall promptly provide to the Administrative Agent and (for distribution to each Lender) copies of all notices, reports,
financial statements, certificates and other documents which it provides to the agents or lenders pursuant to the Credit Agreement. The Borrower shall also provide promptly such information regarding the business, legal, financial, or corporate
affairs of the Loan Parties or any of their Respective Subsidiaries, or compliance with the Loan Documents, as the Administrative Agent or any Lender (through the Administrative Agent) may from time to time reasonably request. 

(b) The Borrower shall permit representatives and independent contractors of the Administrative Agent and each Lender to visit and
inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public
accountants, all at the reasonable expense of the Borrowers and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided that, excluding any such visits
and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative Agent and the Lenders under this Section 6.13 and the Administrative Agent shall
not exercise such rights more often than two (2) times during any calendar year and only one (1) such time shall be at the Borrowers’ expense; provided further that when an Event of Default exists, the Administrative Agent or any
Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice. The Administrative Agent and the
Lenders shall give the Borrowers the opportunity to participate in any discussions with the Borrowers’ independent public accountants. 
  

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 Section 6.15 Suspension of Certain Covenants. 

(a) During any period of time that: (i) the Borrower has Investment Grade Ratings from both Rating Agencies and (ii) no Default
has occurred and is continuing under this Agreement (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), the Covenant Parties and
the Restricted Subsidiaries shall not be subject to Section 6.03 hereof, Section 6.04 hereof, Section 6.05 hereof, Section 6.06 hereof, Section 6.07 hereof, Section 6.09 hereof and Section 6.11(a)(4) hereof (the
“Suspended Covenants”). 
 (b) In the event that the Covenant Parties and the Restricted Subsidiaries are not
subject to the Suspended Covenants under this Agreement for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) one or both of the Rating Agencies withdraw their Investment Grade Rating
or downgrade the rating assigned to the Loans below an Investment Grade Rating then the Covenant Parties and the Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants under this Agreement. The period of time between
the Covenant Suspension Event and the Reversion Date is referred to herein as the “Suspension Period”. 
 (c)
In the event that the Covenant Parties and the Restricted Subsidiaries are not subject to the Suspended Covenants and the Borrower or any of its Affiliates enter into an agreement to effect a transaction that would result in a Change of Control and
one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its Investment Grade Rating or downgrade
the ratings assigned to the Loans below an Investment Grade Rating, then the Covenant Parties and the Restricted Subsidiaries shall thereafter again be subject to Section 6.09 hereof with respect to future events, including, without limitation,
a proposed transaction described in this clause (c). 
 (d) On each Reversion Date, all Indebtedness incurred, or Disqualified
Stock or Preferred Stock issued, during the Suspension Period will be classified as having been incurred or issued pursuant to Section 6.05(a) or Section 6.05(b) (to the extent such Indebtedness or Disqualified Stock or Preferred Stock
would be permitted to be Incurred or issued thereunder as of the Reversion Date and after giving effect to Indebtedness Incurred or issued prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or
Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or issued pursuant to Sections 6.05(a) or (b), such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on the Closing Date, so
that it is classified as permitted under Section 6.05(b)(3). Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under Section 6.03 will be made as though Section 6.03 had been in
effect since the Closing Date and throughout the Suspension Period. For the avoidance of doubt, Restricted Payments made during the Suspension Period shall reduce the amount available to be made as Restricted Payments under Section 6.03(a). No
Default or Event of Default shall be deemed to have occurred on the Reversion Date as a result of any actions taken by the Borrower or its Restricted Subsidiaries during the Suspension Period. For purposes of

  

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Section 2.05(b), on the Reversion Date, the unutilized Collateral Excess Proceeds and Excess Proceeds amount shall be reset to zero. 

(e) The Borrower shall deliver promptly to the Administrative Agent an Officer’s Certificate notifying it of any such occurrence
under this Section 6.14. 
 ARTICLE VII. 

Events Of Default and Remedies 

Section 7.01 Events of Default. 

(a) Any of the following shall constitute an event of default (an “Event of Default”): 

(1) a default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if
any, on the Loans; or 
 (2) a default for 30 days or more in the payment when due of interest on or with respect
to the Loans; or 
 (3) failure by the Borrower or any Guarantor for 60 days after receipt of written notice
given by the Administrative Agent to comply with any of its obligations, covenants or agreements (other than a default referred to in clauses (1) and (2) above) contained in any Loan Document; or 

(4) default under any mortgage, indenture or instrument under which there is issued or by which there is secured or
evidenced any Indebtedness for money borrowed by any Covenant Party or any of the Restricted Subsidiaries or the payment of which is guaranteed by any Covenant Parties or any of the Restricted Subsidiaries, other than Indebtedness owed to a Covenant
Parties or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the incurrence of the Loans, if both: 

(i) such default either results from the failure to make any payment with respect to such Indebtedness when due (after
giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such Indebtedness when due and results in the holder or holders of such Indebtedness causing such Indebtedness to become due
prior to its stated maturity; and 
 (ii) the principal amount of such Indebtedness, together with the principal
amount of any other such Indebtedness in default for failure to make any payment with respect thereto (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate $100.0 million or more at any
one time outstanding; 
  

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 (5) failure by a Covenant Party or any Significant Party to pay final
judgments aggregating in excess of $100 million, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an
enforcement proceeding have been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(6) any Covenant Party or any of the Restricted Subsidiaries that is a Significant Party or any group of Restricted
Subsidiaries that, taken together, would constitute a Significant Party, pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences proceedings to be adjudicated bankrupt or insolvent; 

(ii) consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or
answer or consent seeking reorganization or relief under applicable Bankruptcy law; 
 (iii) consents to the
appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of it or for all or substantially all of its property; 

(iv) makes a general assignment for the benefit of its creditors; or 

(v) generally is not paying its debts as they become due; 

(7) the Guarantee of any Significant Party shall for any reason cease to be in full force and effect or be declared null
and void or any responsible officer of any Guarantor that is a Significant Party, as the case may be, denies that it has any further liability under its Guarantee or gives notice to such effect, other than by reason of the termination of this
Agreement or the release of any such Guarantee in accordance with this Agreement; 
 (8) unless all of the
Collateral has been released from the first priority Liens in accordance with the provisions of the Security Documents, the first priority Liens on all or substantially all of the Collateral securing the Loan Obligations cease to be valid or
enforceable or have the priority required by the Security Documents and such Default continues for 30 days, or the Borrower shall assert or any Guarantor shall assert, in any pleading in any court of competent jurisdiction, that any such security
interest is invalid or unenforceable and, in the case of any such Person that is a Subsidiary of Covenant Parties, Covenant Parties fail to cause such Subsidiary to rescind such assertions within 30 days after the Covenant Parties have actual
knowledge of such assertions; or 
 (9) the failure by the Borrower or any Guarantor to comply for 60 days after
notice with its other agreements contained in the Security Documents except for a failure that would not be material to the Lenders and would not materially affect the value of the Collateral taken as a whole. 

 

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 (b) In the event of any Event of Default specified in clause (4) of
Section 7.01(a), such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Loans) shall be annulled, waived and rescinded, automatically and without any action by
the Administrative Agent or the Lenders, if within 20 days after such Event of Default arose: 
 (1) the
Indebtedness or guarantee that is the basis for such Event of Default has been discharged; or 
 (2) lenders or
holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default; or 

(3) the default that is the basis for such Event of Default has been cured. 

Section 7.02 Remedies upon Event of Default. 

(a) If any Event of Default occurs and is continuing, the Administrative Agent may and, at the request of the Required Lenders, shall
take any or all of the following actions: 
 (i) declare the commitment of each Lender to make Loans to be
terminated, whereupon such commitments and obligation shall be terminated; 
 (ii) declare the unpaid principal
amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of
any kind, all of which are hereby expressly waived by the Borrower; and 
 (iii) subject to the Intercreditor
Agreement, exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or applicable Law with respect to the Collateral or otherwise. 

(b) Notwithstanding the foregoing, in the case of an Event of Default arising under clause (6) of Section 7.01(a), all
outstanding Loans shall be due and payable immediately without further action or notice. 
 Section 7.03 Application of
Funds. 
 Subject to the Intercreditor Agreement, after the exercise of remedies provided for in Section 7.02, any
amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order (to the fullest extent permitted by mandatory provisions of applicable Law): 

First, to payment of that portion of the Loan Obligations constituting fees, indemnities, expenses and other
amounts (other than principal and interest, but including 
  

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Attorney Costs payable under Section 9.04 and amounts payable under Article III) payable to the Administrative Agent or the Collateral Agent in its capacity as such; 

Second, to payment of that portion of the Loan Obligations constituting fees, indemnities and other amounts (other
than principal and interest) payable to the Lenders (including Attorney Costs payable under Section 9.04 and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to
them; 
 Third, to payment of that portion of the Loan Obligations constituting accrued and unpaid
interest on the Loans ratably among the Secured Parties in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Loan Obligations constituting unpaid principal of the Loans ratably among
the Secured Parties in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the payment of all other Loan Obligations of the Borrower that are due and payable to the Administrative
Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date; and 

Last, the balance, if any, after all of the Loan Obligations have been paid in full, to the Borrower or as
otherwise required by Law. 
 ARTICLE VIII. 

Administrative Agent and Other Agents 

Section 8.01 Appointment and Authorization of Agents. 

(a) Each Lender hereby irrevocably appoints, designates and authorizes each of the Administrative Agent and the Collateral Agent to take
such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together
with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, neither the Administrative Agent nor the Collateral Agent shall have any duties or
responsibilities, except those expressly set forth herein, nor shall the Administrative Agent or the Collateral Agent have or be deemed to have any fiduciary relationship with any Lender or Participant, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent or the Collateral Agent. Without limiting the generality of the foregoing sentence,
the use of the term “agent” herein and in the other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary, agency, trust or other implied (or express) obligations arising under agency doctrine
of any applicable Law. Instead, such term 
  

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is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. 

(b) Each of the Secured Parties hereby irrevocably appoints and authorizes the Collateral Agent to act as the agent of (and to hold any
security interest created by the Security Documents for and on behalf of or on trust for and to enter into any “Parallel Debt” as defined in the Security Documents governed by Dutch law) such Secured Party for purposes of acquiring,
holding and enforcing any and all Liens on Collateral granted by the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Collateral Agent (and any
co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 8.02 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for
exercising any rights and remedies thereunder at the direction of the Collateral Agent), shall be entitled to the benefits of all provisions of this Article VIII (including, Section 8.07, as though such co-agents, sub-agents and
attorneys-in-fact were the Collateral Agent under the Loan Documents) as if set forth in full herein with respect thereto. 

Section 8.02 Delegation of Duties. 

Each of the Administrative Agent and the Collateral Agent may execute any of its duties under this Agreement or any other Loan Document
(including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents or of exercising any rights and remedies thereunder) by or through agents, employees or attorneys-in-fact
including for the purpose of any Borrowings, such sub-agents as shall be deemed necessary by the Administrative Agent or the Collateral Agent, as the case may be, and shall be entitled to advice of counsel and other consultants or experts concerning
all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agent or sub-agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct (as
determined in the final judgment of a court of competent jurisdiction). Each of the Secured Parties hereby irrevocably authorizes the Administrative Agent and the Collateral Agent to execute the Intercreditor Agreement, and any other intercreditor
agreement which satisfies the requirements of this Agreement, and agrees to be bound by the terms thereof. 
 Section 8.03
Liability of Agents. 
 No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by
any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct, as determined by the final judgment of a court of competent
jurisdiction, in connection with its duties expressly set forth herein), or (b) be responsible in any manner to any Lender or Participant for any recital, statement, representation or warranty made by any Loan Party or any officer thereof,
contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent or the Collateral Agent under or in connection with, this Agreement or
any other Loan 
  

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Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or the perfection or priority of any Lien or security interest
created or purported to be created under the Security Documents, or for any failure of any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation
to any Lender or participant to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any
Loan Party or any Affiliate thereof. 
 Section 8.04 Reliance by Agents. 

(a) Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature,
resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have
been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to any Loan Party), independent accountants and other experts selected by such Agent. Each Agent shall be fully justified
in failing or refusing to take any action under any Loan Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by
the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this
Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act
pursuant thereto shall be binding upon all the Lenders. No Lender shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or (where so instructed) refraining from acting hereunder or
any of the other Loan Documents in accordance with the instructions of Required Lenders (or such other Lenders as may be required to give such instructions under Section 9.01). 

(b) For purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this Agreement
shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall
have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 
 Section 8.05
Notice of Default. 
 The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any
Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender
or any Borrower referring to this Agreement, describing such Default and stating that such notice is a “notice of 

 

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default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be
directed by the Required Lenders in accordance with Article VII; provided that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Event of Default as it shall deem advisable or in the best interest of the Lenders. 

Section 8.06 Credit Decision; Disclosure of Information by Agents. 

Each Lender acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by the
Administrative Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related
Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Lender represents to each Agent that it has, independently and without reliance upon any Agent-Related
Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties
and their Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to any Borrower hereunder. Each Lender also
represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in
taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and
creditworthiness of the Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent herein, such Agent shall not have any duty or responsibility to provide any Lender
with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their Affiliates which may come into the possession of any
Agent-Related Person. 
 Section 8.07 Indemnification of Agents. 

Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person
(to the extent not reimbursed by or on behalf of any Loan Party and without limiting the obligation of any Loan Party to do so), pro rata, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by
it; provided that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting from such Agent-Related Person’s own gross negligence or willful misconduct, as determined
by the final judgment of a court of competent jurisdiction; provided that no action taken in accordance with the directions of the Required Lenders (or such other number or percentage of the Lenders as shall be required by the Loan Documents)
shall be deemed to constitute gross negligence or willful misconduct for 
  

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purposes of this Section 8.07. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 8.07 applies whether any such
investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse each of the Administrative Agent and the Collateral Agent upon demand for its ratable share of any
costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent or the Collateral Agent, as the case may be, in connection with the preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the
extent that the Administrative Agent or the Collateral Agent, as the case may be, is not reimbursed for such expenses by or on behalf of the Loan Parties. The undertaking in this Section 8.07 shall survive termination of the Commitments, the
payment of all other Obligations and the resignation of the Administrative Agent or the Collateral Agent, as the case may be. 

Section 8.08 Agents in their Individual Capacities. 

Goldman Sachs Lending Partners LLC and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits
from, acquire Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with the Borrower and its respective Affiliates as though Goldman Sachs Lending Partners LLC were not the
Administrative Agent hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, Goldman Sachs Lending Partners LLC or its Affiliates may receive information regarding the Borrower or its
respective Affiliates (including information that may be subject to confidentiality obligations in favor of any such Borrower or such Affiliate) and acknowledge that the Administrative Agent shall not be under any obligation to provide such
information to them. With respect to its Loans, Goldman Sachs Lending Partners LLC and its Affiliates shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers as though it were not the
Administrative Agent, and the terms “Lender” and “Lenders” include Goldman Sachs Lending Partners LLC in its individual capacity. Any successor to Goldman Sachs Lending Partners LLC as the Administrative Agent shall also have the
rights attributed to Goldman Sachs Lending Partners LLC under this paragraph. 
 Section 8.09 Successor Agents.

 The Administrative Agent may resign as the Administrative Agent upon 30 days’ prior written notice to the Lenders and
Nielsen. The Administrative Agent shall have the right to appoint a financial institution as a successor agent, which successor agent shall be consented to by the Required Lenders and (except during the existence of an Event of Default under
Section 7.01(a)(7)) by Nielsen (each such consent not to be unreasonably withheld or delayed). If no successor agent is appointed by the Administrative Agent upon its resignation, the Required Lenders shall appoint a financial institution as a
successor agent for the Lenders, which successor agent shall be consented to by Nielsen at all times other than during the existence of an Event of Default under Section 7.01(a)(7) (which consent of Nielsen shall not be unreasonably

  

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withheld or delayed). Upon the acceptance of its appointment as successor agent hereunder, the Person acting as such successor agent shall succeed to all the rights, powers and duties of the
retiring Administrative Agent and the term “Administrative Agent” shall mean such successor administrative agent and/or Supplemental Agent, as the case may be, and the retiring Administrative Agent’s appointment, powers and duties as
the Administrative Agent shall be terminated. After the retiring Administrative Agent’s resignation hereunder as the Administrative Agent, the provisions of this Article VIII and Sections 9.04 and 9.05 shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was the Administrative Agent under this Agreement. Notwithstanding the foregoing, if no successor agent has been appointed as the Administrative Agent by the date which is thirty (30) days
following the retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent
hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above. Upon the acceptance of any appointment as the Administrative Agent hereunder by a successor and upon the execution and filing or recording of
such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to (a) continue the perfection of the Liens granted or purported to be
granted by the Security Documents or (b) otherwise ensure that Section 6.12 is satisfied, the successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges, and duties of
the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations under the Loan Documents. After the retiring Administrative Agent’s resignation hereunder as the Administrative Agent,
the provisions of this Article VIII shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Administrative Agent. 

The Collateral Agent may resign upon the terms set forth in the Intercreditor Agreement. 

Section 8.10 Administrative Agent May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the
Administrative Agent shall have made any demand on any Borrower or the Collateral Agent) shall be (to the fullest extent permitted by mandatory provisions of applicable Law) entitled and empowered, by intervention in such proceeding or otherwise:

 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect
of the Loans and all other Loan Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Collateral Agent and the Administrative Agent (including any
claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Collateral Agent and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Collateral Agent

  

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and the Administrative Agent under Sections 2.09 and 9.04) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 
 and any custodian, curator, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent or the Collateral Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to
the Administrative Agent or the Collateral Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and their respective agents and counsel, and any other amounts due the Administrative
Agent or the Collateral Agent under Sections 2.09 and 9.04. 
 Nothing contained herein shall be deemed to authorize the
Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative
Agent to vote in respect of the claim of any Lender in any such proceeding. 
 Section 8.11 Collateral and Guaranty
Matters. 
 The Lenders irrevocably agree: 

(a) that any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document shall be
automatically released (i) upon termination of the Commitments and payment in full of all Loan Obligations (other than contingent indemnification obligations not yet accrued and payable), (ii) at the time the property subject to such Lien
is transferred or to be transferred as part of or in connection with any transfer permitted hereunder or under any other Loan Document to any Person other than a Person required to grant a Lien to the Administrative Agent or the Collateral Agent
under the Loan Documents (or, if such transferee is a Person required to grant a Lien to the Administrative Agent or the Collateral Agent on such asset, at the option of the applicable Loan Party, such Lien on such asset may still be released in
connection with the transfer so long as (i) the transferee grants a new Lien to the Administrative Agent or Collateral Agent on such asset substantially concurrently with the transfer of such asset, (ii) the transfer is between parties
organized under the laws of different jurisdictions and at least one of such parties is a Foreign Subsidiary and (iii) the priority of the new Lien is the same as that of the original Lien), (iii) subject to Section 9.01, if the
release of such Lien is approved, authorized or ratified in writing by the Required Lenders, (iv) if the property subject to such Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under its Guaranty pursuant to
clause (c) below or (v) upon the terms of the Security Documents or the Intercreditor Agreement; 
  

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 (b) To release or subordinate any Lien on any property granted to or held by the
Administrative Agent or the Collateral Agent under any Loan Document to the holder of any Lien on such property that is permitted by clause (13) of the definition of Permitted Liens; and 

(c) That any Guarantor shall be automatically released from its obligations under the Guaranty if such Person ceases to be a Restricted
Subsidiary or becomes an Excluded Subsidiary as a result of a transaction or designation permitted hereunder; provided that no such release shall occur if such Guarantor continues to be a guarantor in respect of the Senior Credit Facilities
Obligations. 
 Upon request by the Administrative Agent or the Collateral Agent at any time, the Required Lenders will confirm
in writing the Administrative Agent’s or the Collateral Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 8.11. In each case as specified in this Section 8.11, the Administrative Agent or the Collateral Agent will (and each Lender irrevocably authorizes the Administrative Agent and the Collateral Agent to), at the Borrower’s
expense, execute and deliver to the applicable Loan Party such documents as the Borrower may reasonably request to evidence the release or subordination of such item of Collateral from the assignment and security interest granted under the Security
Documents, or to evidence the release of such Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 8.11. 

Section 8.12 Arranger. 

The Arranger shall not have any obligation, liability, responsibility or duty under this Agreement. Without limiting the foregoing, none
of the Arranger, the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so
identified in deciding to enter into this Agreement or in taking or not taking action hereunder. 
 Section 8.13 Appointment
of Supplemental Agents. 
 (a) It is the purpose of this Agreement and the other Loan Documents that there shall be no
violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any
of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent or the Collateral Agent deems that by reason of any present or future Law of any jurisdiction it may not
exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection therewith, the Administrative Agent and the Collateral Agent are hereby
authorized to appoint an additional individual or institution selected by the Administrative Agent or the Collateral Agent in its sole discretion as a separate trustee, co-trustee, administrative agent, collateral agent, administrative sub-agent or
administrative co-agent (any such additional 
  

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individual or institution being referred to herein individually as a “Supplemental Agent” and collectively as “Supplemental Agents”). 

(b) In the event that the Collateral Agent appoints a Supplemental Agent with respect to any Collateral, (i) each and every right,
power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Collateral Agent with respect to such Collateral shall be exercisable by and vest in such
Supplemental Agent to the extent, and only to the extent, necessary to enable such Supplemental Agent to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such Collateral, and
every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Agent shall run to and be enforceable by either the Collateral Agent or such Supplemental Agent, and
(ii) the provisions of this Article VIII and of Sections 9.04 and 9.05 that refer to the Administrative Agent shall inure to the benefit of such Supplemental Agent and all references therein to the Collateral Agent shall be deemed to be
references to the Collateral Agent and/or such Supplemental Agent, as the context may require. 
 (c) Should any instrument in
writing from any Loan Party be required by any Supplemental Agent so appointed by the Administrative Agent or the Collateral Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, such
Loan Party shall execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent or the Collateral Agent. In case any Supplemental Agent, or a successor thereto, shall die, become incapable of acting,
resign or be removed, all the rights, powers, privileges and duties of such Supplemental Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Agent. 

ARTICLE IX. 

Miscellaneous 

Section 9.01 Amendments, Etc. 

Except as otherwise set forth in this Agreement, no amendment or waiver of any provision of this Agreement, any other Loan Document or
the Intercreditor Agreement, and no consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed by Administrative Agent (with the consent of the Required Lenders) and such Loan Party and each such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which given; provided that, no such amendment, waiver or consent shall: 

(a) extend or increase the Commitment of any Lender without the written consent of each Lender holding such Commitment (it being
understood that a waiver of any condition precedent or of any Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or increase of any Commitment of any Lender); 

 

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 (b) postpone any date scheduled for, or reduce or forgive the amount of, any payment of
principal or interest under Section 2.07 or 2.08 without the written consent of each Lender holding the applicable Loan Obligation (it being understood that the waiver of (or amendment to the terms of) any mandatory prepayment of the Loans
shall not constitute a postponement of any date scheduled for the payment of principal or interest; 
 reduce or forgive the principal of, or
the rate of interest specified herein on, any Loan, or (subject to clause (iii) of the second proviso to this Section 9.01) any fees or other amounts payable hereunder or under any other Loan Document (or change the timing of payments of
such fees or other amounts) without the written consent of each Lender holding such Loan, or to whom such fee or other amount is owed; provided that, only the consent of the Required Lenders shall be necessary to amend the definition of
“Default Rate” or to waive any obligation of the Borrowers to pay interest at the Default Rate; 
 (c) change any
provision of this Section 9.01, the definition of “Required Lenders” or “Pro Rata Share” or Section 2.06, 2.12(a), 2.13 or 7.03 without the written consent of each Lender; 

(d) other than in connection with a transaction permitted under Section 6.11, release all or substantially all of the Collateral in
any transaction or series of related transactions, without the written consent of each Lender; 
 (e) other than in connection
with a transaction permitted under Section 6.11, release all or substantially all of the aggregate value of the Guarantees, without the written consent of each Lender; 

and provided further that (i) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent or the
Collateral Agent, as applicable, in addition to the Lenders required above, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent or the Collateral Agent, as applicable, under this Agreement or any other
Loan Document and (ii) Section 9.07(h) may not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other
modification. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended
without the consent of such Lender (it being understood that any Commitments or Loans held or deemed held by any Defaulting Lender shall be excluded for a vote of the Lenders hereunder requiring any consent of the Lenders). 

Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders,
the Administrative Agent and the Borrowers (a) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect
thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Loans and the accrued interest and fees in respect thereof and (b) to include 

 

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appropriately the Lenders holding such credit facilities in any determination of the Required Lenders. 

Notwithstanding anything to the contrary contained in Section 9.01, guarantees, collateral security documents and related documents
executed by Foreign Subsidiaries in connection with this Agreement may be in a form reasonably determined by the Collateral Agent and may be, together with this Agreement, amended and waived with the consent of the Collateral Agent at the request of
Nielsen without the need to obtain the consent of any other Lender if such amendment or waiver is delivered in order (i) to comply with the local Law or advice of local counsel, (ii) to cure ambiguities or defects or (iii) to cause
such guarantee, collateral security document or other document to be consistent with this Agreement and the other Loan Documents. 

Section 9.02 Notices and Other Communications; Facsimile Copies. 

(a) General. Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any
other Loan Document shall be in writing (including by facsimile transmission). All such written notices shall be mailed, faxed or delivered to the applicable address, facsimile number or electronic mail address, and all notices and other
communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower or the Administrative Agent or the Collateral Agent, to the address, facsimile number, electronic
mail address or telephone number specified for such Person on Schedule 9.02 or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and

 (ii) if to any other Lender, to the address, facsimile number, electronic mail address or telephone number
specified in its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the Borrower and the Administrative Agent or the Collateral
Agent. 
 All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by
the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) Business Days after deposit in the mails, postage
prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of Section 9.02(c)), when delivered;
provided that notices and other communications to the Administrative Agent and the Collateral Agent pursuant to Article II shall not be effective until actually received by such Person. In no event shall a voice mail message be effective as a
notice, communication or confirmation hereunder. 
  

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 (b) Effectiveness of Facsimile Documents and Signatures. Loan Documents may be
transmitted and/or signed by facsimile. The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually signed originals and shall be binding on all Loan Parties, the Administrative
Agent and the Lenders. 
 (c) Reliance by Agents and Lenders. The Administrative Agent, the Collateral Agent and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of any Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or
were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify each Agent-Related Person and each Lender
from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of any Borrower in the absence of gross negligence or willful misconduct. All telephonic notices to the
Administrative Agent or Collateral Agent may be recorded by the Administrative Agent or the Collateral Agent, and each of the parties hereto hereby consents to such recording. 

(d) Electronic Communications. 

(i) Notices and other communications to Lenders hereunder may be delivered or furnished by electronic communication
(including e-mail and internet or intranet websites, including IntraLinks/IntraAgency, SyndTrak or another relevant website or other information platform (the “Platform”)) pursuant to procedures approved by Administrative Agent,
provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified Administrative Agent that it is incapable of receiving notices under such Section by electronic communication.
Administrative Agent or Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be
limited to particular notices or communications. Unless Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor.

 (ii) Each Loan Party understands that the distribution of material through an electronic medium is not
necessarily secure and that there are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with such electronic distribution, except to the extent caused by the willful misconduct or

  

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gross negligence of Administrative Agent, as determined by a final, non-appealable judgment of a court of competent jurisdiction. 

(iii) The Platform and any Approved Electronic Communications are provided “as is” and “as available”.
No Agent-Related Person warrant the accuracy, adequacy, or completeness of the Approved Electronic Communications or the Platform and each expressly disclaims liability for errors or omissions in the Platform and the Approved Electronic
Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects is made by any
Agent-Related Person in connection with the Platform or the Approved Electronic Communications. 
 (iv) Each Loan
Party, each Lender, and each of the Administrative Agent and the Collateral Agent agrees that Administrative Agent may, but shall not be obligated to, store any Approved Electronic Communications on the Platform in accordance with Administrative
Agent’s customary document retention procedures and policies. 
 (v) Any notice of Default or Event of
Default may be provided by telephone if confirmed promptly thereafter by delivery of written notice thereof. 
 Section 9.03
No Waiver; Cumulative Remedies. 
 No failure by any Lender or the Administrative Agent or the Collateral Agent to
exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law. 
 Section 9.04 Attorney Costs
and Expenses. 
 Whether or not the transactions contemplate hereby are consummated, the Borrower agrees (a) to pay or
reimburse the Administrative Agent, the Collateral Agent, the Arranger and the Lenders party hereto on the date hereof (the “Initial Lenders”) for all reasonable out-of-pocket costs and expenses incurred in connection with the
preparation, negotiation, syndication and execution of this Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated thereby
are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, including all Attorney Costs of Weil, Gotshal & Manges LLP, and (b) to pay or reimburse the Administrative Agent, the
Collateral Agent, the Arranger and each Lender for all out-of-pocket costs and expenses incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise)

  

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of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor
Relief Law, and including all respective Attorney Costs of counsel to the Administrative Agent, the Collateral Agent and the Initial Lenders). The foregoing costs and expenses shall include all reasonable search, filing, recording and title
insurance charges and fees related thereto, and other (reasonable, in the case of Section 9.04(a)) out-of-pocket expenses incurred by the Administrative Agent and the Initial Lenders. The agreements in this Section 9.04 shall survive the
termination of the Commitments and repayment of all other Obligations. All amounts due under this Section 9.04 shall be paid within ten (10) Business Days of receipt by the Borrower of an invoice relating thereto setting forth such
expenses in reasonable detail. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in its
sole discretion. 
 Section 9.05 Indemnification by the Borrower. 

Whether or not the transactions contemplated hereby are consummated, the Borrower shall indemnify and hold harmless each Agent-Related
Person, the Arranger, each Lender and its respective Affiliates, and directors, partners, officers, employees, counsel, agents, trustees, investment advisors and attorneys-in-fact of each of the foregoing (collectively the
“Indemnitees”) from and against any and all liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including Attorney Costs) of any kind or nature
whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with (a) the execution, delivery, enforcement, performance or administration of any
Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby, (b) any Commitment or Loan or the use or proposed use of
the proceeds therefrom, or (c) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly owned or operated by the Loan Parties or any Subsidiary, or any Environmental Liability related in any
way to the Loan Parties or any Subsidiary, or (d) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of,
preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”),
in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations,
losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements resulted from the gross negligence or willful misconduct of such Indemnitee or of any affiliate, director, partner, officer or employee of such
Indemnitee, as determined by the final, non-appealable judgment of a court of competent jurisdiction. No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through IntraLinks or
other similar information transmission systems in connection with this Agreement, nor shall any Indemnitee or the Borrower or any Subsidiary have any liability for any special, punitive, 

 

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indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing
Date). In the case of an investigation, litigation or other proceeding to which the indemnity in this Section 9.05 applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan
Party, any Subsidiary of any Loan Party, any Loan Party’s directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions
contemplated hereunder or under any of the other Loan Documents are consummated. All amounts due under this Section 9.05 shall be paid within ten (10) Business Days after demand therefor; provided, however, that such Indemnitee
shall promptly refund such amount to the extent that there is a final, non-appealable judicial or arbitral determination that such Indemnitee was not entitled to indemnification rights with respect to such payment pursuant to the express terms of
this Section 9.05. The agreements in this Section 9.05 shall survive the resignation of the Administrative Agent or the Collateral Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Loan Obligations. 
 Section 9.06 Payments Set Aside. 

To the extent that any payment by or on behalf of any Borrower is made to the Administrative Agent or any Lender, or the Administrative
Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery,
the obligation or part thereof originally intended to be satisfied shall, to the fullest extent possible under provisions of applicable Law, be revived and continued in full force and effect as if such payment had not been made or such setoff had
not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to
the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect. 
 Section
9.07 Successors and Assigns. 
 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby, except that no Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (except as
permitted by Section 6.11) and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Assignee pursuant to an assignment made in accordance with the provisions of Section 9.07(b) (such
an assignee, an “Eligible Assignee”), (ii) by way of participation in accordance with the provisions of Section 9.07(e), (iii) by way of pledge or assignment of a security interest subject to the restrictions of
Section 9.07(g) or (iv) to an SPC in accordance with the provisions of 
  

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Section 9.07(h) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 9.07(e) and, to the extent expressly contemplated hereby, the Indemnitees) any legal or
equitable right, remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in
paragraph (b)(ii) below, any Lender may assign to one or more assignees (“Assignees”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing
to it) with the prior written consent (such consent not to be unreasonably withheld) of (A) Nielsen, provided that no consent of Nielsen shall be required for an assignment to a Lender, an Affiliate of a Lender, or an Approved Fund and
(B) the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an assignment of all or any portion of a Loan to a Lender, an Affiliate of a Lender or an Approved Fund or if an Event of Default
under Sections 7.01(a)(1), 7.01(a)(2) or 7.01(a)(6) has occurred and is continuing. 
 (ii) Assignments shall be subject to the
following additional conditions: 
 (A) except in the case of an assignment to a Lender, an Affiliate of a Lender
or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $1,000,000, and shall be in increments of $1,000,000 in excess thereof unless each of Nielsen and the Administrative Agent
otherwise consents, provided that such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds, if any; 

(B) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500; (except that no such registration and processing fee shall be payable (y) in connection with an assignment by or to Goldman Sachs Lending Partners LLC or any Affiliate thereof or
(z) in the case of an Assignee which is already a Lender or is an affiliate or Approved Funds of a Lender or a Person under common management with a Lender); and 

(C) the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

 (c) Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 9.07(d), from and after
the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a
Lender under this Agreement, and the assigning Lender thereunder shall, to the 
  

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extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the
assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 9.04 and 9.05 with respect to facts and circumstances
occurring prior to the effective date of such assignment). Upon request, and the surrender by the assigning Lender of its Note, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with this clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with
Section 9.07(e). 
 (d) The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and related
interest amounts) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent
and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower, the Administrative Agent and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(e) Any Lender may at any time, after consultation with Nielsen, sell participations to any Person (other than a natural person) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agents and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or the other Loan Documents; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 9.01 that requires the affirmative vote of
such Lender. Subject to Section 9.07(f), the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01 and 3.04 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
Section 9.07(c) but shall not be entitled to recover greater amounts under such Sections than the selling Lender would be entitled to recover. To the extent permitted by applicable Law, each Participant also shall be entitled to the benefits of
Section 9.09 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. 
  

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 (f) A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with Nielsen’s prior written
consent. A Participant shall not be entitled to the benefits of Section 3.01 unless Nielsen is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.01
as though it were a Lender. 
 (g) Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time
pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve
Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(h) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special
purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to provide all or any part of any Loan that such Granting Lender would
otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails to make
all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase
the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 3.01, or 3.04), (ii) no SPC shall be liable for any indemnity or similar payment obligation
under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of
record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Notwithstanding anything to the contrary contained herein, any
SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500, assign all or any portion of its right to receive payment with respect to any Loan to the
Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to
such SPC. 
 (i) Notwithstanding anything to the contrary contained herein, without the consent of the Borrower or the
Administrative Agent, (1) any Lender may in accordance with applicable Law create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it and (2) any Lender that is a Fund may create a security
interest in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities;

  

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provided that unless and until such trustee actually becomes a Lender in compliance with the other provisions of this Section 9.07, (i) no such pledge shall release the pledging
Lender from any of its obligations under the Loan Documents and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership rights with respect
to the pledged interest through foreclosure or otherwise. 
 Section 9.08 Confidentiality. 

Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information, in accordance with such
Administrative Agent’s and such Lender’s customary procedures for handling confidential information of such nature, except that Information may be disclosed (a) to its Affiliates and its and its Affiliates’ directors, officers,
employees, trustees, investment advisors and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential); (b) to the extent requested by any Governmental Authority; (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other
party to this Agreement; (e) subject to an agreement containing provisions substantially the same as those of this Section 9.08 (or as may otherwise be reasonably acceptable to Nielsen), to any pledgee referred to in Section 9.07(g),
Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Agreement or to any direct or indirect contractual counterparty (or the professional advisors thereto) to
any swap, derivative transaction relating to the Borrower and its obligations; (f) with the written consent of Nielsen; (g) to the extent such Information becomes publicly available other than as a result of a breach of this
Section 9.08; (h) to any Governmental Authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender; (i) to any rating agency when required by it (it
being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to Loan Parties and their Subsidiaries received by it from such Lender); or (j) in connection
with the exercise of any remedies hereunder, under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement or rights hereunder or thereunder. In addition, the Administrative Agent
and the Lenders may disclose the existence of this Agreement and publicly available information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Administrative Agent and
the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Borrowing. For the purposes of this Section 9.08, “Information” means all information
received from the Loan Parties relating to any Loan Party or any Subsidiary or its business, other than any such information that is publicly available to the Administrative Agent or any Lender prior to disclosure by any Loan Party other than as a
result of a breach of this Section 9.08; provided that, in the case of information received from a Loan Party after the date hereof, such information is clearly identified at the time of delivery as confidential or is delivered pursuant
to Section 6.01 hereof. 
  

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 Section 9.09 Setoff. 

In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of
Default, each Lender and its Affiliates (and the Collateral Agent, in respect of any unpaid fees, costs and expenses payable hereunder) is authorized at any time and from time to time, without prior notice to the Borrower, any such notice being
waived by the Borrower (on its own behalf and on behalf of each Loan Party and each of its Subsidiaries) to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or
final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates or the Collateral Agent to or for the credit or the account of the respective Loan Parties and their Subsidiaries against any and all Obligations
owing to such Lender and its Affiliates or the Collateral Agent hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent or such Lender or Affiliate shall have made demand under this Agreement
or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness. Each Lender agrees promptly to notify the Borrower and the
Administrative Agent after any such set off and application made by such Lender; provided, that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent, the
Collateral Agent and each Lender under this Section 9.09 are in addition to other rights and remedies (including other rights of setoff) that the Administrative Agent, the Collateral Agent and such Lender may have. 

Section 9.10 Interest Rate Limitation. 

Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents
shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess
interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the applicable Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the
Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof,
and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

Section 9.11 Counterparts. 

This Agreement and each other Loan Document may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. Delivery by telecopier of an executed counterpart of a signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed
counterpart of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures delivered by telecopier be confirmed by 

 

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a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier.

 Section 9.12 Integration. 

This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject
matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document (other than any Loan Documents
expressly governed by the laws of The Netherlands), the provisions of this Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of the Administrative Agent or the Lenders in any other Loan Document
shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the
fair meaning thereof. 
 Section 9.13 Severability. 

If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, the legality, validity
and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. 
 Section 9.14 GOVERNING LAW. 

THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT (OTHER THAN ANY LOAN DOCUMENTS EXPRESSLY GOVERNED BY THE LAWS OF THE NETHERLANDS) SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (a) ANY LEGAL ACTION OR PROCEEDING ARISING
UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY, EACH AGENT AND EACH LENDER
CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH LOAN PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE
GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR 
  

 -126- 

 
PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN TELECOPIER) IN SECTION 9.02. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY APPLICABLE LAW. 
 Section 9.15 WAIVER OF RIGHT TO TRIAL BY JURY. 

EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING
UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY
FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9.15 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

Section 9.16 Binding Effect. 

This Agreement shall become effective when it shall have been executed by the Loan Parties and the Administrative Agent shall have been
notified by each Lender that each such Lender has executed it and thereafter shall be binding upon and inure to the benefit of the Loan Parties, the Administrative Agent and each Lender and their respective successors and assigns, in each case in
accordance with Section 9.07 (if applicable) and except that no Loan Party shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders except as permitted by Section 6.11.

 Section 9.17 Judgment Currency. 

If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Loan Document in one
currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on
which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to the Administrative Agent, the Collateral Agent or the Lenders hereunder or under the other Loan Documents shall, notwithstanding any judgment in
a currency (the “Judgment Currency”) other than that in which such sum is denominated in 
  

 -127- 

 
accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the
Administrative Agent or the Collateral Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or the Collateral Agent may in accordance with normal banking procedures purchase the Agreement Currency with the
Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or the Collateral Agent from the Borrower in the Agreement Currency, each Borrower agrees, as a separate
obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Collateral Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than
the sum originally due to the Administrative Agent or the Collateral Agent in such currency, the Administrative Agent or the Collateral Agent agrees to return the amount of any excess to the applicable Borrower (or to any other Person who may be
entitled thereto under applicable Law). 
 Section 9.18 Lender Action. 

Each Lender agrees that it shall not take or institute any actions or proceedings, judicial or otherwise, for any right or remedy against
any Loan Party or any other obligor under any of the Loan Documents (including the exercise of any right of setoff, rights on account of any banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings,
or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party, without the prior written consent of the Administrative Agent. The provision of this Section 9.18 are for the sole
benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan Party. 
 Section 9.19
USA Patriot Act. 
 Each Lender that is subject to the USA Patriot Act and the Administrative Agent (for itself and not
on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name, address and
tax identification number of each Borrower and other information regarding such Borrower that will allow such Lender or the Administrative Agent, as applicable, to identify such Borrower in accordance with the USA Patriot Act. This notice is given
in accordance with the requirements of the USA Patriot Act and is effective as to the Lenders and the Administrative Agent. 

Section 9.20 No Fiduciary Duty. 

The Administrative Agent, the Collateral Agent, each Lender, the Arranger and their Affiliates (collectively, solely for purposes of this
paragraph, the “Lenders”), may have economic interests that conflict with those of Borrower, its stockholders and/or its affiliates. Borrower agrees that nothing in the Loan Documents or otherwise will be deemed to create an
advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one hand, and Borrower, its stockholders or its affiliates, on the other. The Loan Parties acknowledge and agree that (i) the transactions
contemplated by the Loan Documents (including 
  

 -128- 

 
the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lenders, on the one hand, and Borrower, on the other, and (ii) in
connection therewith and with the process leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of Borrower, its stockholders or its affiliates with respect to the transactions contemplated hereby (or the
exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise Borrower, its stockholders or its Affiliates on other matters) or any other
obligation to Borrower except the obligations expressly set forth in the Loan Documents and (y) each Lender is acting solely as principal and not as the agent or fiduciary of Borrower, its management, stockholders, creditors or any other
Person. Borrower acknowledges and agrees that Borrower has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and
the process leading thereto. Borrower agrees that it will not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to Borrower, in connection with such transaction or the process leading
thereto. 
 ARTICLE X. 

Guarantee 

Section 10.01 The Guarantee. 

Each Guarantor hereby jointly and severally with the other Guarantors guarantees, as a primary obligor and not as a surety to each
Secured Party and their respective successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest (including any
interest, fees, costs or charges that would accrue but for the provisions of (i) the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code and (ii) any other Debtor Relief
Laws) on the Loans made by the Lenders to, and the Loans held by each Lender of, any Borrower (other than such Guarantor), and all other Loan Obligations from time to time owing to the Secured Parties by any Loan Party under any Loan Document, in
each case strictly in accordance with the terms thereof (such obligations being herein collectively called the “Guaranteed Obligations”). The Guarantors hereby jointly and severally agree that if the Borrower or other Guarantor(s)
shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Guarantors will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any
extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 Section 10.02 Obligations Unconditional. 

The obligations of the Guarantors under Section 10.01 shall constitute a guaranty of payment and to the fullest extent permitted by
applicable Law, are absolute, irrevocable and unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or 

 

 -129- 

 
enforceability of the Guaranteed Obligations of the Borrower under this Agreement, the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution,
release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or
Guarantor (except for payment in full). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain
absolute, irrevocable and unconditional under any and all circumstances as described above: 
 (i) at any time or
from time to time, without notice to the Guarantors, the time for any performance of or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(ii) any of the acts mentioned in any of the provisions of this Agreement or the Notes, if any, or any other agreement or
instrument referred to herein or therein shall be done or omitted; 
 (iii) the maturity of any of the Guaranteed
Obligations shall be accelerated, or any of the Guaranteed Obligations shall be amended in any respect, or any right under the Loan Documents or any other agreement or instrument referred to herein or therein shall be amended or waived in any
respect or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; 

(iv) any Lien or security interest granted to, or in favor of, any Lender or Agent as security for any of the Guaranteed
Obligations shall fail to be perfected; or 
 (v) the release of any other Guarantor pursuant to
Section 10.09. 
 The Guarantors hereby expressly waive diligence, presentment, demand of payment, protest and all notices
whatsoever, and any requirement that any Secured Party exhaust any right, power or remedy or proceed against the Borrower under this Agreement or the Notes, if any, or any other agreement or instrument referred to herein or therein, or against any
other person under any other guarantee of, or security for, any of the Guaranteed Obligations. The Guarantors waive any and all notice of the creation, renewal, extension, waiver, termination or accrual of any of the Guaranteed Obligations and
notice of or proof of reliance by any Secured Party upon this Guarantee or acceptance of this Guarantee, and the Guaranteed Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this
Guarantee, and all dealings between the Borrower and the Secured Parties shall likewise be conclusively presumed to have been had or consummated in reliance upon this Guarantee. This Guarantee shall be construed as a continuing, absolute,
irrevocable and unconditional guarantee of payment without regard to any right of offset with respect to the Guaranteed Obligations at any time or from time to time held by Secured Parties, and the obligations and liabilities of the Guarantors
hereunder shall not be conditioned or contingent upon the pursuit by the Secured Parties or any other person at any time of any right or remedy against the Borrower or against 

 

 -130- 

 
any other person which may be or become liable in respect of all or any part of the Guaranteed Obligations or against any collateral security or guarantee therefor or right of offset with respect
thereto. This Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon the Guarantors and the successors and assigns thereof, and shall inure to the benefit of the Lenders, and their
respective successors and assigns, notwithstanding that from time to time during the term of this Agreement there may be no Guaranteed Obligations outstanding. 

Section 10.03 Reinstatement. 

The obligations of the Guarantors under this Article X shall be automatically reinstated if and to the extent that for any reason any
payment by or on behalf of the Borrower or other Loan Party in respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy
or reorganization or otherwise. 
 Section 10.04 Subrogation; Subordination. 

Each Guarantor hereby agrees that until the payment and satisfaction in full in cash of all Guaranteed Obligations and the expiration and
termination of the Commitments of the Lenders under this Agreement it shall waive any claim and shall not exercise any right or remedy, direct or indirect, arising by reason of any performance by it of its guarantee in Section 10.01, whether by
subrogation or otherwise, against any Borrower or any other Guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed Obligations. 

Section 10.05 Remedies. 

The Guarantors jointly and severally agree that, as between the Guarantors and the Lenders, the obligations of the Borrower under this
Agreement and the Notes, if any, may be declared to be forthwith due and payable as provided in Section 7.02(a) (and shall be deemed to have become automatically due and payable in the circumstances provided in Section 7.02(a)) for
purposes of Section 10.01, notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as against the Borrower and that, in the event of such
declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due and payable by the Borrower) shall forthwith become due and payable by the Guarantors for purposes of
Section 10.01. 
 Section 10.06 Instrument for the Payment of Money. 

Each Guarantor hereby acknowledges that the guarantee in this Article X constitutes an instrument for the payment of money, and consents
and agrees that any Lender or Agent, at its sole option, in the event of a dispute by such Guarantor in the payment of any moneys due hereunder, shall have the right to bring a motion-action under New York CPLR Section 3213. 

 

 -131- 

 Section 10.07 Continuing Guarantee. 

The guarantee in this Article X is a continuing guarantee of payment, and shall apply to all Guaranteed Obligations whenever arising.

 Section 10.08 General Limitation on Guarantee Obligations. 

In any action or proceeding involving any state corporate limited partnership or limited liability company law, or any applicable state,
federal or foreign bankruptcy, insolvency, reorganization or other Law affecting the rights of creditors generally, if the obligations of any Guarantor under Section 10.01 would otherwise be held or determined to be void, voidable, invalid or
unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 10.01, then, notwithstanding any other provision to the contrary, the amount of such liability shall, without any
further action by such Guarantor, any Loan Party or any other person, be automatically limited and reduced to the highest amount (after giving effect to the right of contribution established in Section 10.10) that is valid and enforceable and
not subordinated to the claims of other creditors as determined in such action or proceeding. 
 Section 10.09 Release of
Guarantors. 
 A Guarantor shall be automatically and unconditionally released and discharged from its obligations under
this Agreement (including under Section 9.05 hereof) and its obligations to pledge and grant any Collateral owned by it pursuant to any Security Documents (and the pledge of such Guarantor’s Equity Interests pursuant to the Security
Documents shall be automatically released) upon: 
 (i) any sale, exchange or transfer (by merger or otherwise)
of (1) the Capital Stock of such Guarantor (other than VNU HF) (including any sale, exchange or transfer), after which the applicable Guarantor is no longer a Restricted Subsidiary or a Subsidiary of a Guarantor or (2) all or substantially
all the assets of such Guarantor (other than VNU HF) which sale, exchange or transfer is made in a manner not in violation of the applicable provisions of this Agreement; 

(ii) the release or discharge of the guarantee by such Guarantor (other than VNU HF) of the Senior Credit Facilities or
the guarantee which resulted in the creation of such Guarantee, except a discharge or release by or as a result of payment under such guarantee; or 

(iii) the proper designation of any Restricted Subsidiary that is a Guarantor (other than VNU HF) as an Unrestricted
Subsidiary. 
 So long as the Borrower shall have provided the Collateral Agent such certifications or documents as the
Collateral Agent shall reasonably request, the Collateral Agent shall take such actions as are necessary to effect each release described in this Section 10.09 in accordance with the relevant provisions of the Security Documents. 

 

 -132- 

 Section 10.10 Right of Contribution. 

Each Guarantor hereby agrees that to the extent that a Subsidiary Guarantor shall have paid more than its proportionate share of any
payment made hereunder, such Subsidiary Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Subsidiary Guarantor’s right of
contribution shall be subject to the terms and conditions of Section 10.04. The provisions of this Section 10.10 shall in no respect limit the obligations and liabilities of any Subsidiary Guarantor to the Administrative Agent and the
Lenders, and each Subsidiary Guarantor shall remain liable to the Administrative Agent and the Lenders for the full amount guaranteed by such Subsidiary Guarantor hereunder. 

Section 10.11 Certain Dutch Matters. 

Any obligation, guarantee or undertaking granted or assumed by a Person incorporated or organized under the laws of The Netherlands
pursuant to this Agreement (including but not limited to this Article X) or any other Loan Document shall be deemed not to be undertaken or incurred by such Person to the extent that the same would constitute unlawful financial assistance within the
meaning of Section 2:207(c) or 2:98(c) of the Dutch Civil Code or any other applicable financial assistance rules under any relevant jurisdiction (the “Prohibition”) and the provisions of this Agreement and the other Loan
Documents shall be construed accordingly. For the avoidance of doubt it is expressly acknowledged that the relevant Persons incorporated under the laws of The Netherlands will continue to guarantee and secure all such obligations which, if included,
do not constitute a violation of the Prohibition. 
  

 -133- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
as of the date first above written. 
  

			
	NIELSEN FINANCE LLC
		
	By:	 	/s/ Harris A. Black
		 	 Name:  Harris A. Black

Title:    Secretary

Senior Secured Loan Agreement 

			
	NIELSEN FINANCE CO.
		
	By:	 	/s/ Harris A. Black
		 	 Name:  Harris A. Black

Title:    Secretary

Senior Secured Loan Agreement 

			
	 ATHENIAN LEASING CORPORATION

NMR INVESTING I, INC.

		
	By:	 	/s/ Frederick A. Steinmann
		 	 Name:  Frederick A. Steinmann

Title:    Executive Vice President

Senior Secured Loan Agreement 

			
	 NMR LICENSING ASSOCIATES, L.P.

A LIMITED PARTNERSHIP

		
	BY:	 	 NMR INVESTING I, INC.,
 ITS
GENERAL PARTNER

		
	By:	 	/s/ Frederick A. Steinmann
		 	 Name:  Frederick A. Steinmann

Title:    Executive Vice President

Senior Secured Loan Agreement 

			
	 A. C. NIELSEN (ARGENTINA) S.A.

A. C. NIELSEN COMPANY, LLC
 ACN HOLDINGS INC.

 ACNIELSEN CORPORATION
 ART HOLDING,
L.L.C.
 BILLBOARD CAFES, INC.
 CZT/ACN
TRADEMARKS, L.L.C.
 EMIS (CANADA), LLC

FOREMOST EXHIBITS, INC.
 MFI HOLDINGS,
INC.
 NESLEIN HOLDING, L.L.C.

NETRATINGS, LLC
 NIELSEN BUSINESS MEDIA, INC.

 NIELSEN BUSINESS MEDIA HOLDING COMPANY

NIELSEN GOVERNMENT AND PUBLIC SECTOR, INC.

NIELSEN HOLDINGS, L.L.C.
 NIELSEN IAG,
INC.
 NIELSEN LEASING CORPORATION

NIELSEN MOBILE, LLC
 NIELSEN NATIONAL RESEARCH
GROUP, INC.
 REWARDTV, INC.
 THE
CAMBRIDGE GROUP, INC.
 THE NIELSEN COMPANY (US), LLC

TNC (US) HOLDINGS, INC.
 VNU MARKETING
INFORMATION, INC.

		
	By:	 	/s/ Harris A. Black
		 	 Name:  Harris A. Black

Title:    Vice President

Senior Secured Loan Agreement 

			
	ACNIELSEN ERATINGS.COM
		
	By:	 	/s/ Harris A. Black
		 	 Name:  Harris A. Black

Title:    Secretary

Senior Secured Loan Agreement 

			
	 AGB NIELSEN MEDIA RESEARCH B.V.

THE NIELSEN COMPANY B.V.
 NIELSEN HOLDING AND
FINANCE B.V.
 VNU INTERMEDIATE HOLDING B.V.

VNU INTERNATIONAL B.V.

		
	By:	 	/s/ Harris A. Black
		 	 Name:  Harris A. Black

Title:    Proxyholder for the Guarantors

Senior Secured Loan Agreement 

			
	 GOLDMAN SACHS LENDING PARTNERS LLC,

as Administrative Agent

		
	By:	 	/s/ Allison R. Liff
		 	 Name: Allison R. Liff

Title:   Authorized Signatory

Senior Secured Loan Agreement 

			
	 GSLP I OFFSHORE HOLDINGS FUND A, L.P.

By: Goldman, Sachs & Co., Duly Authorized

		
	By:	 	/s/ Oliver Thym
		 	 Name: Oliver Thym

Title:   

	
	 GSLP I OFFSHORE HOLDINGS FUND B, L.P.

By: Goldman, Sachs & Co., Duly Authorized

		
	By:	 	/s/ Oliver Thym
		 	 Name: Oliver Thym

Title:   

	
	 GSLP I OFFSHORE HOLDINGS FUND C, L.P.

By: Goldman, Sachs & Co., Duly Authorized

		
	By:	 	/s/ Oliver Thym
		 	 Name: Oliver Thym

Title:   

	
	 GSLP ONSHORE HOLDINGS FUND, L.L.C.

By: Goldman, Sachs & Co., as Attorney-in-Fact

		
	By:	 	/s/ Oliver Thym
		 	 Name: Oliver Thym

Title:   

Senior Secured Loan Agreement 

 SCHEDULE 1.01A 

COMMITMENTS 
  

							
	 Lender
	  	Commitment	 	 	Amount
	 GSLP I OFFSHORE HOLDINGS FUND A, L.P,
	  	30.5350823148	% 	 	$	152,675,411.57
	 GSLP I OFFSHORE HOLDINGS FUND B, L.P.
	  	30.5350823148	% 	 	$	152,675,411.57
	 GSLP I OFFSHORE HOLDINGS FUND C, L.P.
	  	30.5350823148	% 	 	$	152,675,411.57
	 GSLP ONSHORE HOLDINGS FUND, L.L.C.
	  	8.3947530556	% 	 	$	41,973,765.29
		  	 	 	 	 	 
	 Total
	  	100	% 	 	$	500,000,000
		  	 	 	 	 	 

 SCHEDULE 5.08 

OWNERSHIP OF PROPERTY 

None. 
  

 2 

 SCHEDULE 5.09(B) 

ENVIRONMENTAL MATTERS 

None. 
  

 3 

 SCHEDULE 5.09(D) 

ENVIRONMENTAL ACTIONS 

None. 
  

 4 

 SCHEDULE 5.10 

TAXES 

None. 
  

 5 

 SCHEDULE 5.11(A) 

ERISA COMPLIANCE 

None. 
  

 6 

 SCHEDULE 6.13(A) 

CERTAIN COLLATERAL DOCUMENTS 

Dutch law notarial deed of amendment relating to (i) the pledge of shares dated 9 August 2006 made between VNU Intermediate Holding B.V. as
Pledgor, Citibank N.A. as Pledgee and Nielsen Holding and Finance B.V. as the Company (all as defined therein); (ii) the pledge of shares dated 9 August 2006 made between Nielsen Holding and Finance B.V. as Pledgor, Citibank N.A. as
Pledgee and VNU International B.V. (all as defined therein), (iii) the intercompany receivables pledge dated 9 August 2006 made between, amongst others, The Nielsen Company B.V. (formerly known as VNU Group B.V.), VNU Intermediate Holding
B.V., Nielsen Holding and Finance B.V. (formerly known as VNU Holding and Finance B.V.) and VNU International B.V. as Pledgors and Citibank, N.A. as Pledgee (all as defined therein); and (iv) the intercompany receivables pledge date
13 February 2009 made between AGB Nielsen Media Research B.V. as the Pledgor and Citibank, N.A. as the Pledgee (all as defined therein). 
  

 7 

 SCHEDULE 9.02 

ADMINISTRATIVE AGENT’S OFFICE, CERTAIN ADDRESSES FOR NOTICES 

Administrative Agent’s Address: 

Goldman Sachs Lending Partners LLC 
 c/o
Goldman, Sachs & Co. 
 30 Hudson Street, 36th Floor 

Jersey City, NJ 07302 
 Attention: Sandra Guillen

 Fax: (212) 357-4597 

Collateral Agent’s Address: 

Citibank, N.A. 
 390 Greenwich Street, 1st Floor

 New York, New York, 10013 

Attention: Neil Mahon 
 Telecopy:
(646) 291-1629 
 Email: comelius.p.mahon@citigroup.com 

Borrowers’ Address: 
 Nielsen
Finance LLC 
 770 Broadway 
 New York,
NY 10003 
 Attention: David Berger 

Telephone: 1-646-654-5057 
 Facsimile:
1-646-654-5001 
 dberger@vnuinc.com 

With copies to: 
 O’Melveny &
Myers LLP 
 Seven Times Square 
 New
York, New York 10036 
 Attention: Gregory Ezring, Esq. 

Telephone: (212) 326-2000 
 Facsimile:
(212) 326-2061 
  

 8

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