Document:

exv10w3

Exhibit 10.3

 

PLEDGE AGREEMENT

among

TOWN SPORTS INTERNATIONAL HOLDINGS, INC.,

TOWN SPORTS INTERNATIONAL, LLC,

VARIOUS OTHER SUBSIDIARIES OF TOWN SPORTS INTERNATIONAL HOLDINGS, INC.

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as COLLATERAL AGENT

Dated as of May 11, 2011

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	 	Page	 
	1. SECURITY FOR OBLIGATIONS
	 	 	2	 
	 
	2. DEFINITIONS
	 	 	3	 
	 
	3. PLEDGE OF SECURITIES, ETC.
	 	 	7	 
	 
	3.1 Pledge
	 	 	7	 
	3.2 Procedures
	 	 	10	 
	3.3 Subsequently Acquired Collateral
	 	 	11	 
	3.4 Transfer Taxes
	 	 	12	 
	3.5 Definition of Pledged Notes
	 	 	12	 
	3.6 Certain Representations and Warranties Regarding the Collateral
	 	 	12	 
	 
	4. APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC.
	 	 	12	 
	 
	5. VOTING, ETC., WHILE NO EVENT OF DEFAULT
	 	 	12	 
	 
	6. DIVIDENDS AND OTHER DISTRIBUTIONS
	 	 	13	 
	 
	7. REMEDIES IN CASE OF AN EVENT OF DEFAULT
	 	 	13	 
	 
	8. REMEDIES, CUMULATIVE, ETC.
	 	 	14	 
	 
	9. APPLICATION OF PROCEEDS
	 	 	15	 
	 
	10. PURCHASERS OF COLLATERAL
	 	 	15	 
	 
	11. INDEMNITY
	 	 	15	 
	 
	12. PLEDGEE NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER
	 	 	16	 
	 
	13. FURTHER ASSURANCES; POWER-OF-ATTORNEY
	 	 	17	 
	 
	14. THE PLEDGEE AS COLLATERAL AGENT
	 	 	17	 
	 
	15. TRANSFER BY THE PLEDGORS
	 	 	17	 
	 
	16. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGORS
	 	 	18	 
	 
	17. LEGAL NAMES; TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A
TRANSMITTING UTILITY); JURISDICTION OF ORGANIZATION; ORGANIZATIONAL IDENTIFICATION
NUMBERS; CHANGES THERETO; ETC.
	 	 	20	 
	 
	18. PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC.
	 	 	20	 

(i)

 

Table of Contents
(continued)

	 	 	 	 	 
	 	 	 	Page	 
	19. TERMINATION; RELEASE
	 	 	21	 
	 
	20. NOTICES, ETC.
	 	 	22	 
	 
	21. WAIVER; AMENDMENT
	 	 	22	 
	 
	22. MISCELLANEOUS
	 	 	23	 
	 
	23. HEADINGS DESCRIPTIVE
	 	 	23	 
	 
	24. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	 	 	23	 
	 
	25. PLEDGOR’S DUTIES
	 	 	24	 
	 
	26. COUNTERPARTS
	 	 	24	 
	 
	27. SEVERABILITY
	 	 	24	 
	 
	28. RECOURSE
	 	 	24	 
	 
	29. ADDITIONAL PLEDGORS
	 	 	24	 
	 
	30. LIMITED OBLIGATIONS
	 	 	25	 
	 
	31. RELEASE OF PLEDGORS
	 	 	25	 

	 	 	 	 	 	 	 

	ANNEX A	 	-	 	SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION,
JURISDICTION OF ORGANIZATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS  
	ANNEX B	 	-	 	SCHEDULE OF SUBSIDIARIES
	ANNEX C	 	-	 	SCHEDULE OF STOCK
	ANNEX D	 	-	 	SCHEDULE OF NOTES
	ANNEX E	 	-	 	SCHEDULE OF LIMITED LIABILITY COMPANY INTERESTS
	ANNEX F	 	-	 	SCHEDULE OF PARTNERSHIP INTERESTS
	ANNEX G	 	-	 	SCHEDULE OF CHIEF EXECUTIVE OFFICES
	ANNEX H	 	-	 	FORM OF AGREEMENT REGARDING UNCERTIFICATED
	 	 	 	 	SECURITIES, LIMITED LIABILITY COMPANY INTERESTS AND PARTNERSHIP INTERESTS

(ii)

 

PLEDGE AGREEMENT

          PLEDGE AGREEMENT (as amended, modified or supplemented from time to time, this
“Agreement”), dated as of May 11, 2011, among each of the undersigned pledgors (each, a
“Pledgor” and, together with any other entity that becomes a pledgor hereunder pursuant to
Section 29 hereof, the “Pledgors”) and Deutsche Bank Trust Company Americas, as
collateral agent (together with any successor collateral agent, the “Pledgee”), for the
benefit of the Secured Creditors (as defined below). Except as otherwise defined herein, all
capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used
herein as therein defined.

W I T N E S S E T H :

          WHEREAS, Town Sports International Holdings, Inc. (“Holdings”), Town Sports
International, LLC (the “Borrower”), the lenders from time to time party thereto (the
“Lenders”) and Deutsche Bank Trust Company Americas, as administrative agent (together with
any successor administrative agent, the “Administrative Agent”), have entered into a Credit
Agreement, dated as of May 11, 2011 (as amended, modified, restated, extended, restructured and/or
supplemented from time to time, together with any agreement refinancing in full the Indebtedness
under such agreement or successor agreements to the extent such agreement provides that it is to be
the “Credit Agreement” hereunder, the “Credit Agreement”), providing for the making of
Loans to, and the issuance of, and participation in, Letters of Credit for the account, of the
Borrower, all as contemplated therein (the Lenders, each Issuing Lender, the Administrative Agent
and the Pledgee are herein called the “Lender Creditors”);

          WHEREAS, pursuant to the Credit Agreement Party Guaranty, each Credit Agreement Party has
guaranteed to the Secured Creditors the payment when due of all Guaranteed Obligations as described
(and defined) therein;

          WHEREAS, pursuant to the Subsidiaries Guaranty, each Pledgor (other than Holdings and the
Borrower) has jointly and severally guaranteed the payment and performance when due of all
Guaranteed Obligations as described (and defined) therein;

          WHEREAS, the Borrower and/or one or more of its Subsidiaries may at any time and from time to
time enter into one or more Interest Rate Protection Agreements or Other Hedging Agreements with
one or more Lender Creditors or any affiliate thereof (each such Lender Creditor or affiliate, even
if the respective Lender Creditor subsequently ceases to be a Lender under the Credit Agreement for
any reason, together with such Lender Creditor’s or affiliate’s successors and assigns, if any,
collectively, the “Other Creditors” and, together with the Lender Creditors, the
“Secured Creditors”);

          WHEREAS, it is a condition precedent to the making of Loans to the Borrower and the issuance
of, and participation in, Letters of Credit for the account of the Borrower under the Credit
Agreement and to the Other Creditors entering into Interest Rate Protection

 

 

Agreements and Other Hedging Agreements that each Pledgor shall have executed and delivered to
the Pledgee this Agreement; and

          WHEREAS, each Pledgor will obtain benefits from the incurrence of Loans by the Borrower and
the issuance of, and participation in, Letters of Credit for the account of the Borrower under the
Credit Agreement and the entering into by the Borrower and/or one or more of its Subsidiaries of
Interest Rate Protection Agreements or Other Hedging Agreements and, accordingly, desires to enter
into this Agreement in order to satisfy the conditions described in the preceding recital and to
induce the Lenders to make Loans to the Borrower and issue, and/or participate in, Letters of
Credit for the account of the Borrower and the Other Creditors to enter into Interest Rate
Protection Agreements or Other Hedging Agreements with the Borrower and/or one or more of its
Subsidiaries;

          NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each Pledgor,
the receipt and sufficiency of which are hereby acknowledged, each Pledgor hereby makes the
following representations and warranties to the Pledgee for the benefit of the Secured Creditors
and hereby covenants and agrees with the Pledgee for the benefit of the Secured Creditors as
follows:

     1. SECURITY FOR OBLIGATIONS. This Agreement is made by each Pledgor for the benefit of the Secured Creditors to secure:

     (i) the full and prompt payment when due (whether at the stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including,
without limitation, principal, premium, interest, reimbursement obligations (both actual and
contingent) under Letters of Credit, fees, costs, and indemnities (including in each case,
without limitation, all interest that accrues after the commencement of any case, proceeding
or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding
of any Pledgor or any Subsidiary thereof at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such
proceeding) of such Pledgor to the Lender Creditors, whether now existing or hereafter
incurred under, arising out of, or in connection with, the Credit Agreement and the other
Credit Documents to which such Pledgor is a party (including, in the case of each Pledgor
that is a Guarantor, all such obligations, liabilities and indebtedness of such Pledgor
under its Guaranty) and the due performance and compliance by such Pledgor with all of the
terms, conditions and agreements contained in the Credit Agreement and in such other Credit
Documents (all such obligations, liabilities and indebtedness under this clause (i), except
to the extent consisting of obligations, liabilities or indebtedness with respect to
Interest Rate Protection Agreements or Other Hedging Agreements, being herein collectively
called the “Credit Document Obligations”);

     (ii) the full and prompt payment when due (whether at the stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including, in
each case, without limitation, all interest that accrues after the commencement of any case,
proceeding or other action relating to the bankruptcy, insolvency, reorganization or
similar proceeding of any Pledgor or any of its Subsidiaries at the rate provided for
in the respective documentation, whether or not a claim for post-petition interest is
allowed in

2

 

any such proceeding) owing by such Pledgor to the Other Creditors under, or with
respect to (including, in the case of each Pledgor that is a Guarantor, all such
obligations, liabilities and indebtedness of such Pledgor under its Guaranty), each Interest
Rate Protection Agreement and Other Hedging Agreement, whether such Interest Rate Protection
Agreement or Other Hedging Agreement is now in existence or hereafter arising and the due
performance and compliance by such Pledgor with all of the terms, conditions and agreements
contained therein (all such obligations, liabilities and indebtedness described in this
clause (ii) being herein collectively called the “Other Obligations”);

     (iii) any and all sums advanced by the Pledgee in order to preserve the Collateral (as
hereinafter defined) or preserve its security interest in the Collateral;

     (iv) in the event of any proceeding for the collection or enforcement of any
indebtedness, obligations or liabilities of such Pledgor referred to in clauses (i) and (ii)
above, after an Event of Default shall have occurred and be continuing, the reasonable
expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing
of or realizing on the Collateral, or of any exercise by the Pledgee of its rights
hereunder, together with reasonable attorneys’ fees and court costs; and

     (v) all amounts paid by any Secured Creditor as to which such Secured Creditor has the
right to reimbursement under Section 11 of this Agreement;

all such obligations, liabilities, indebtedness, sums and expenses set forth in clauses (i) through
(v) of this Section 1 being herein collectively called the “Obligations,” it being
acknowledged and agreed that the “Obligations” shall include extensions of credit of the types
described above, whether outstanding on the date of this Agreement or extended from time to time
after the date of this Agreement.

          2. DEFINITIONS. (a) Reference to singular terms shall include the plural and vice versa.

          (b) The following capitalized terms used herein shall have the definitions specified below:

          “Administrative Agent” shall have the meaning set forth in the recitals hereto.

          “Adverse Claim” shall have the meaning given such term in Section 8-102(a)(1) of the
UCC.

          “Agreement” shall have the meaning set forth in the first paragraph hereof.

          “Borrower” shall have the meaning set forth in the recitals hereto.

          “Certificated Security” shall have the meaning given such term in Section 8-102(a)(4)
of the UCC.

3

 

          “Clearing Corporation” shall have the meaning given such term in Section 8-102(a)(5)
of the UCC.

          “Collateral” shall have the meaning set forth in Section 3.1 hereof.

          “Collateral Accounts” shall mean any and all accounts established and maintained by
the Pledgee in the name of any Pledgor at any time while an Event of Default shall have occurred
and be continuing to which Collateral may be credited after the occurrence and during the
continuance of an Event of Default.

          “Credit Agreement” shall have the meaning set forth in the recitals hereto.

          “Credit Document Obligations” shall have the meaning set forth in Section 1(i)
hereof.

          “Credit Documents” shall have the meaning provided in the Credit Agreement, as such
documents may be amended, modified, restated and/or supplemented from time to time in connection
with the Credit Agreement.

          “Equity Interest” of any Person shall mean any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or interest in (however
designated) equity of such Person, including, without limitation, any common stock, preferred
stock, any limited or general partnership interest and any limited liability company membership
interest.

          “Event of Default” shall mean any Event of Default under, and as defined in, the
Credit Agreement or, after the Credit Document Obligations have been paid in full and all Letters
of Credit and Commitments have terminated, an Event of Default (or similar term) under any Interest
Rate Protection Agreement or Other Hedging Agreement entered into with an Other Creditor.

          “Exempted Foreign Entity” shall mean any Foreign Subsidiary of the Borrower that is
treated as a corporation or an association taxable as a corporation for U.S. Federal income tax
purposes.

          “Financial Asset” shall have the meaning given such term in Section 8-102(a)(9) of the
UCC.

          “Foreign Subsidiary” shall have the meaning given such term the Credit Agreement.

          “Holdings” shall have the meaning set forth in the recitals hereto.

          “Indemnitees” shall have the meaning set forth in Section 11 hereof.

4

 

          “Instrument” shall have the meaning given such term in Section 9-102(a)(47) of the
UCC.

          “Investment Property” shall have the meaning given such term in Section 9-102(a)(49)
of the UCC.

          “Lender Creditors” shall have the meaning set forth in the recitals hereto.

          “Lenders” shall have the meaning set forth in the recitals hereto.

          “Limited Liability Company Assets” shall mean all assets, whether tangible or
intangible and whether real, personal or mixed (including, without limitation, all limited
liability company capital and interest in other limited liability companies), at any time owned by
any Pledgor or represented by any Limited Liability Company Interest.

          “Limited Liability Company Interests” shall mean the entire limited liability company
membership interest at any time owned by any Pledgor in any limited liability company.

          “Non-Voting Equity Interests” shall mean all Equity Interests of any Foreign
Subsidiary of the Borrower which are not Voting Equity Interests.

          “Notes” shall mean (x) all intercompany notes at any time issued to each Pledgor and
(y) all other promissory notes from time to time issued to, or held by, each Pledgor.

          “Obligations” shall have the meaning set forth in Section 1 hereof.

          “Other Creditors” shall have the meaning set forth in the recitals hereto.

          “Other Hedging Agreements” shall have the meaning given such term the Credit
Agreement.

          “Other Obligations” shall have the meaning set forth in Section 1(ii) hereof.

          “Partnership Assets” shall mean all assets, whether tangible or intangible and whether
real, personal or mixed (including, without limitation, all partnership capital and interest in
other partnerships), at any time owned or represented by any Partnership Interest.

          “Partnership Interest” shall mean the entire general partnership interest or limited
partnership interest at any time owned by any Pledgor in any general partnership or limited
partnership.

          “Person” shall have the meaning given such term the Credit Agreement.

          “Pledged Notes” shall have the meaning set forth in Section 3.5 hereof.

          “Pledgee” shall have the meaning set forth in the first paragraph hereof.

          “Pledgor” shall have the meaning set forth in the first paragraph hereof.

          “Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the UCC
and, in any event, shall also include, but not be limited to, (i) any and all proceeds of any
insurance, indemnity, warranty or guaranty payable to the Pledgee or any

5

 

Pledgor from time to time
with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or
due and payable to any Pledgor from time to time in connection with any requisition, confiscation,
condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental
authority (or any Person acting under color of governmental authority), and (iii) any and all other
amounts from time to time paid or payable under or in connection with any of the Collateral.

          “Registered Organization” shall mean a “registered organization” as such term is
defined in Section 9-102 (a) (70) of the UCC.

          “Required Lenders” shall have the meaning given such term in the Credit Agreement.

          “Required Secured Creditors” shall have the meaning given such term in the Security
Agreement.

          “Secured Creditors” shall have the meaning set forth in the recitals hereto.

          “Secured Debt Agreements” shall mean and include (x) this Agreement, (y) the other
Credit Documents, and (z) the Interest Rate Protection Agreements and Other Hedging Agreements
entered into with any Other Creditor.

          “Securities Account” shall have the meaning given such term in Section 8-501(a) of the
UCC.

          “Securities Act” shall mean the Securities Act of 1933, as amended, as in effect from
time to time.

          “Securities Intermediary” shall have the meaning given such term in Section 8-102(14)
of the UCC.

          “Security” and “Securities” shall have the meaning given such term in Section
8-102(a)(15) of the UCC and shall in any event also include all Stock and all Notes.

          “Security Entitlement” shall have the meaning given such term in Section 8-102(a)(17)
of the UCC.

          “Stock” shall mean all of the issued and outstanding shares of capital stock at any
time owned by any Pledgor of any corporation.

          “Subsidiary” shall have the meaning given such term in the Credit Agreement.

          “Termination Date” shall have the meaning set forth in the Security Agreement.

          “Transmitting Utility” shall mean a “transmitting utility” as such term is defined in
Section 9-102(a)(80) of the UCC.

6

 

          “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York
from time to time; provided that all references herein to specific sections or subsections
of the UCC are references to such sections or subsections, as the case may be, of the Uniform
Commercial Code as in effect in the State of New York on the date hereof.

          “Uncertificated Security” shall have the meaning given such term in Section
8-102(a)(18) of the UCC.

          “Voting Equity Interests” of any Foreign Subsidiary of the Borrower shall mean all
classes of Equity Interests of such Foreign Subsidiary entitled to vote.

          3. PLEDGE OF SECURITIES, ETC.

          3.1 Pledge

          . To secure the Obligations now or hereafter owed or to be performed by such Pledgor, each
Pledgor does hereby grant, pledge and assign to the Pledgee for the benefit of the Secured
Creditors, and does hereby create a continuing security interest in favor of the Pledgee for the
benefit of the Secured Creditors in, all of its right, title and interest in and to the following,
whether now existing or hereafter from time to time acquired (collectively, the
“Collateral”):

          (a) each of the Collateral Accounts, including any and all assets of whatever type or kind
deposited by such Pledgor in each such Collateral Account, whether now owned or hereafter acquired,
existing or arising, including, without limitation, all Financial Assets, Investment Property,
monies, checks, drafts, Instruments, Securities or interests therein of any type or nature
deposited or required by the Credit Agreement or any other Secured Debt Agreement to be deposited
in each such Collateral Account, and all investments and all certificates and other Instruments
(including depository receipts, if any) from time to time representing or evidencing the same, and
all dividends, interest, distributions, cash and other property from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing;

          (b) all Securities owned or held by such Pledgor from time to time and all options and
warrants owned by such Pledgor from time to time to purchase Securities;

          (c) all Limited Liability Company Interests owned by such Pledgor from time to time and all of
its right, title and interest in each limited liability company to which each such Limited
Liability Company Interest relates, whether now existing or hereafter acquired, including, without
limitation, to the fullest extent permitted under the terms and provisions of the documents and
agreements governing such Limited Liability Company Interests and applicable law:

     (A) all the capital thereof and its interest in all profits, income, surpluses,
losses, Limited Liability Company Assets and other distributions to
which such Pledgor shall at any time be entitled in respect of such Limited
Liability Company Interests;

     (B) all other payments due or to become due to such Pledgor in respect of
Limited Liability Company Interests, whether under any limited liability company

7

 

agreement or otherwise, whether as contractual obligations, damages, insurance
proceeds or otherwise;

     (C) all of its claims, rights, powers, privileges, authority, options, security
interests, liens and remedies, if any, under any limited liability company agreement
or operating agreement, or at law or otherwise in respect of such Limited Liability
Company Interests;

     (D) all present and future claims, if any, of such Pledgor against any such
limited liability company for monies loaned or advanced, for services rendered or
otherwise;

     (E) all of such Pledgor’s rights under any limited liability company agreement
or operating agreement or at law to exercise and enforce every right, power, remedy,
authority, option and privilege of such Pledgor relating to such Limited Liability
Company Interests, including any power to terminate, cancel or modify any such
limited liability company agreement or operating agreement, to execute any
instruments and to take any and all other action on behalf of and in the name of any
of such Pledgor in respect of such Limited Liability Company Interests and any such
limited liability company, to make determinations, to exercise any election
(including, but not limited to, election of remedies) or option or to give or
receive any notice, consent, amendment, waiver or approval, together with full power
and authority to demand, receive, enforce, collect or receipt for any of the
foregoing or for any Limited Liability Company Asset, to enforce or execute any
checks, or other instruments or orders, to file any claims and to take any action in
connection with any of the foregoing; and

     (F) all other property hereafter delivered in substitution for or in addition
to any of the foregoing, all certificates and instruments representing or evidencing
such other property and all cash, securities, interest, dividends, rights and other
property at any time and from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all thereof;

          (d) all Partnership Interests owned by such Pledgor from time to time and all of its right,
title and interest in each partnership to which each such Partnership Interest relates, whether now
existing or hereafter acquired, including, without limitation, to the fullest extent permitted
under the terms and provisions of the documents and agreements governing such Partnership Interests
and applicable law:

     (A) all the capital thereof and its interest in all profits, income, surpluses,
losses, Partnership Assets and other distributions to which such Pledgor shall at
any time be entitled in respect of such Partnership Interests;

     (B) all other payments due or to become due to such Pledgor in respect of
Partnership Interests, whether under any partnership agreement or otherwise, whether
as contractual obligations, damages, insurance proceeds or otherwise;

8

 

     (C) all of its claims, rights, powers, privileges, authority, options, security
interests, liens and remedies, if any, under any partnership agreement or operating
agreement, or at law or otherwise in respect of such Partnership Interests;

     (D) all present and future claims, if any, of such Pledgor against any such
partnership for monies loaned or advanced, for services rendered or otherwise;

     (E) all of such Pledgor’s rights under any partnership agreement or operating
agreement or at law to exercise and enforce every right, power, remedy, authority,
option and privilege of such Pledgor relating to such Partnership Interests,
including any power to terminate, cancel or modify any partnership agreement or
operating agreement, to execute any instruments and to take any and all other action
on behalf of and in the name of any of such Pledgor in respect of such Partnership
Interests and any such partnership, to make determinations, to exercise any election
(including, but not limited to, election of remedies) or option or to give or
receive any notice, consent, amendment, waiver or approval, together with full power
and authority to demand, receive, enforce, collect or receipt for any of the
foregoing or for any Partnership Asset, to enforce or execute any checks, or other
instruments or orders, to file any claims and to take any action in connection with
any of the foregoing; and

     (F) all other property hereafter delivered in substitution for or in addition
to any of the foregoing, all certificates and instruments representing or evidencing
such other property and all cash, securities, interest, dividends, rights and other
property at any time and from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all thereof;

          (e) all Security Entitlements owned by such Pledgor from time to time in any and all of the
foregoing;

          (f) all Financial Assets and Investment Property owned by such Pledgor from time to time; and

          (g) all Proceeds of any and all of the foregoing;

provided that (A)(x) until a change in the relevant sections of the Code or the
regulations, rules, rulings, notices or other official pronouncements issued or promulgated
thereunder (in which case this clause (x) shall no longer be applicable), no Pledgor shall be
required at any time to pledge hereunder more than 65% of the total combined voting power of all
classes of Voting Equity Interests of any Exempted Foreign Entity, and (y) each Pledgor shall be
required to pledge hereunder 100% of the Non-Voting Equity Interests of each Exempted Foreign
Entity at any time and from time to time acquired by such Pledgor, which Non-Voting Equity
Interests
shall not be subject to the limitations described in preceding clause (x) and (B) no Pledgor shall
be required to grant a security interest hereunder in (and the term “Collateral” shall not
include) the Equity Interests in Persons that are not Wholly-Owned Subsidiaries of Holdings but
only to

9

 

the extent that the pledge of such Equity Interests is not permitted hereunder by the terms
of any agreement or organizational document of such Person and only so long as such contractual
prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC,
the Bankruptcy Code or any other requirement of law.

          Notwithstanding anything to the contrary contained in this Agreement, the Pledgors shall not
be required to take any actions to perfect the Collateral Agent’s security interest hereunder
except to the extent that a security interest in such types of Collateral can be perfected (i) by
the filings of a UCC-1 (or similar) financing statement under the applicable UCC, (ii) possession
of certificated Securities evidencing Equity Interests, (iii) possession of Instruments
constituting Notes, (iv) as provided in Section 3.2(a)(ii) hereof and (v) as provided
in Section 3.2(a)(v) hereof and the representations, warranties and covenants contained in
this Agreement with respect to a perfected security interest in such Collateral shall be qualified
to the extent provided in this paragraph.

          3.2 Procedures. (a) To the extent that any Pledgor at any time or from time to time owns, acquires or
obtains any right, title or interest in any Collateral, such Collateral shall automatically (and
without the taking of any action by the respective Pledgor) be pledged pursuant to Section
3.1 of this Agreement and, in addition thereto, the respective Pledgor shall (to the extent
provided below) take the following actions as set forth below (as promptly as practicable and, in
any event, within 10 Business Days after it obtains such Collateral (as such period may be extended
by the Collateral Agent in its sole discretion)) for the benefit of the Pledgee and the other
Secured Creditors:

     (i) with respect to a Certificated Security representing an Equity Interest (other than
a Certificated Security credited on the books of a Clearing Corporation or Securities
Intermediary), the respective Pledgor shall physically deliver such Certificated Security to
the Pledgee, endorsed to the Pledgee or endorsed in blank;

     (ii) with respect to an Uncertificated Security (other than an Uncertificated Security
credited on the books of a Clearing Corporation or Securities Intermediary), the respective
Pledgor shall cause the issuer of such Uncertificated Security (unless the issuer of such
Uncertificated Security is not a Subsidiary of such Pledgor) to duly authorize and execute,
and deliver to the Pledgee, an agreement for the benefit of the Pledgee and the other
Secured Creditors substantially in the form of Annex H hereto (appropriately
completed to the reasonable satisfaction of the Pledgee and with such modifications, if any,
as shall be reasonably satisfactory to the Pledgee) pursuant to which such issuer agrees to
comply with any and all instructions originated by the Pledgee without further consent by
the registered owner and not to comply with instructions regarding such Uncertificated
Security (and any Partnership Interests and Limited Liability Company Interests issued by
such issuer) originated by any other Person other than a court of competent jurisdiction;

     (iii) with respect to a Partnership Interest or a Limited Liability Company Interest
(other than a Partnership Interest or Limited Liability Company Interest credited on the
books of a Clearing Corporation or Securities Intermediary), if such Partnership

10

 

Interest or
Limited Liability Company Interest is represented by a certificate and is a Security for
purposes of the UCC, the procedure set forth in Section 3.2(a)(i) hereof;

     (iv) with respect to any Intercompany Note and any other Note in a principal amount in
excess of $1,000,000, physical delivery of such Note to the Pledgee, endorsed to the Pledgee
or endorsed in blank; and

     (v) with respect to cash proceeds from any of the Collateral described in Section
3.1 hereof which the Pledgee is entitled to retain pursuant to the terms of this
Agreement, establishment by the Pledgee of a Collateral Account.

In addition to the foregoing, in the event that any Partnership Interests or Limited Liability
Company Interests of any Pledgor which were not previously Securities become (A) Certificated
Securities, such Pledgor shall follow the procedure set forth in Section 3.2(a)(i), or (B)
Uncertificated Securities, such Pledgor shall follow the procedure set forth in Section
3.2(a)(ii), in either case, within 10 Business Days after the date that such Partnership
Interests or Limited Liability Company Interests become Securities (as such period may be extended
by the Collateral Agent in its sole discretion).

          (b) In addition to the actions required to be taken pursuant to Section 3.2(a) hereof,
each Pledgor shall from time to time cause appropriate financing statements (on Form UCC-1 or other
appropriate form) under the Uniform Commercial Code as in effect in the various relevant States,
covering all Collateral hereunder (with the form of such financing statements to be satisfactory to
the Pledgee), to be filed in the relevant filing offices so that at all times the Pledgee has a
security interest in all Investment Property and other Collateral which is perfected by the filing
of such financing statements (in each case to the maximum extent perfection by filing may be
obtained under the laws of the relevant States, including, without limitation, Section 9-312(a) of
the UCC).

          3.3 Subsequently Acquired Collateral. If any Pledgor shall acquire (by purchase, stock dividend or similar distribution or
otherwise) any additional Collateral at any time or from time to time after the date hereof, such
Collateral shall automatically (and without any further action being required to be taken) be
subject to the pledge and security interests created pursuant to Section 3.1 hereof and,
furthermore, the respective Pledgor will promptly thereafter take (or cause to be taken) all action
with respect to such Collateral in accordance with the procedures set forth in Section 3.2
hereof, and will promptly thereafter deliver to the Pledgee such supplements to Annexes A
through G hereto as are reasonably necessary to cause such annexes to be complete and
accurate at such time. Without limiting the foregoing, each Pledgor shall be required to pledge
hereunder the Equity Interests of any Exempted Foreign Entity at any time and from time to time
after the date hereof acquired by such Pledgor, provided that (x) a change in the relevant
sections of the Code or the regulations, rules, rulings, notices or other official pronouncements
issued or promulgated thereunder, no Pledgor shall be required at any time to pledge hereunder more
than 65% of the
total combined voting power of all classes of Voting Equity Interests of any Exempted Foreign
Entity and (y) each Pledgor shall be required to pledge hereunder 100% of the Non-Voting Equity
Interests of each Exempted Foreign Entity at any time and from time to time acquired by such
Pledgor.

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          3.4 Transfer Taxes. Each pledge of Collateral under Section 3.1 or Section 3.3 hereof shall be
accompanied by any transfer tax stamps required in connection with the pledge of such Collateral.

          3.5 Definition of Pledged Notes. All Notes at any time pledged or required to be pledged hereunder are hereinafter called
the “Pledged Notes.”

          3.6 Certain Representations and Warranties Regarding the Collateral. Each Pledgor represents and warrants that on the date hereof: (i) the exact legal name of
such Pledgor, the type of organization of such Pledgor, whether or not such Pledgor is a Registered
Organization, the jurisdiction of organization of such Pledgor, the organizational identification
number (if any) of such Pledgor, and whether or not such Pledgor is a Transmitting Utility, is
listed on Annex A hereto; (ii) each Subsidiary of such Pledgor, and the direct ownership
thereof, is listed in Annex B hereto; (iii) the Stock (and any warrants or options to
purchase Stock) held by such Pledgor consists of the number and type of shares of the stock (or
warrants or options to purchase any stock) of the corporations as described in Annex C
hereto; (iv) such Stock constitutes that percentage of the issued and outstanding capital stock of
the issuing corporation as is set forth in Annex C hereto; (v) the Notes held by such
Pledgor consist of the promissory notes described in Annex D hereto where such Pledgor is
listed as the lender; (vi) the Limited Liability Company Interests held by such Pledgor consist of
the number and type of interests of the Persons described in Annex E hereto; (vii) each
such Limited Liability Company Interest constitutes that percentage of the issued and outstanding
equity interest of the issuing Person as set forth in Annex E hereto; (viii) the
Partnership Interests held by such Pledgor consist of the number and type of interests of the
Persons described in Annex F hereto; (ix) each such Partnership Interest constitutes that
percentage or portion of the entire partnership interest of the Partnership as set forth in
Annex F hereto; (x) the exact address of the chief executive office of such Pledgor is
listed on Annex G hereto; (xi) the Pledgor has complied with the respective procedure set
forth in Section 3.2(a) hereof with respect to each item of Collateral described in
Annexes B through F hereto; and (xi) on the date hereof, such Pledgor owns no other
Securities, Stock, Notes, Limited Liability Company Interests or Partnership Interests.

          4. APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC. If and to the extent necessary to enable the Pledgee to perfect its security interest in
any of the Collateral or to exercise any of its remedies hereunder, the Pledgee shall have the
right to appoint one or more sub-agents for the purpose of retaining physical possession of the
Collateral, which may be held (in the discretion of the Pledgee) in the name of the relevant
Pledgor, endorsed or assigned in blank or in favor of the Pledgee or any nominee or nominees
of the Pledgee or a sub-agent appointed by the Pledgee.

          5. VOTING, ETC., WHILE NO EVENT OF DEFAULT. Each Pledgor shall be entitled to exercise any and all voting and other consensual rights
pertaining to the Collateral owned by it, and to give consents, waivers or ratifications in respect
thereof; provided that, in each case, no vote shall be cast or any consent, waiver or
ratification given or any action taken or omitted to be taken which would violate, result in a
breach of any covenant contained in, or be inconsistent with any of the terms of any Secured Debt
Agreement, or which could reasonably be expected to have the effect of impairing the value of the
Collateral or any part thereof or the position or interests of the Pledgee or any other Secured
Creditor in the Collateral, unless

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expressly permitted by the terms of the Secured Debt Agreements.
Notwithstanding the foregoing, all such rights of each Pledgor to vote and to give consents,
waivers and ratifications shall cease in case either (x) an Event of Default under Section 11.05 of
the Credit Agreement has occurred and is continuing or (y) any other Event of Default has occurred
and is continuing and the Pledgee has otherwise notified Holdings or the Borrower, and Section
7 hereof shall become applicable.

          6. DIVIDENDS AND OTHER DISTRIBUTIONS. Unless and until there shall have occurred and be continuing either (x) an Event of Default
under Section 11.05 of the Credit Agreement or (y) any other Event of Default and the Pledgee has
otherwise notified Holdings or the Borrower, all cash dividends, cash distributions, cash Proceeds
and other cash amounts payable in respect of the Collateral shall be paid to the respective
Pledgor. The Pledgee shall be entitled to receive directly, and to retain as part of the
Collateral:

     (i) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash dividends other than as set forth above) paid or distributed by way
of dividend or otherwise in respect of the Collateral;

     (ii) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash (although such cash may be paid directly to the respective Pledgor
so long as no Event of Default then exists)) paid or distributed in respect of the
Collateral by way of stock-split, spin-off, split-up, reclassification, combination of
            shares or similar rearrangement; and

     (iii) all other or additional stock, notes, certificates, limited liability company
interests, partnership interests, instruments or other securities or property (including,
but not limited to, cash but only if an Event of Default then exists) which may be paid in
respect of the Collateral by reason of any consolidation, merger, exchange of stock,
conveyance of assets, liquidation or similar corporate or other reorganization.

          Nothing contained in this Section 6 shall limit or restrict in any way the
Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with
Section 3 of this Agreement. All dividends, distributions or other payments
which are received by any Pledgor contrary to the provisions of this Section 6 or
Section 7 hereof shall be received in trust for the benefit of the Pledgee, shall be
segregated from other property or funds of such Pledgor and shall be forthwith paid over to
the Pledgee as Collateral in the same form as so received (with any necessary endorsement).

          7. REMEDIES IN CASE OF AN EVENT OF DEFAULT. If there shall have occurred and be continuing an Event of Default, then and in every such
case, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether
vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and
enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to
exercise all the rights and remedies of a secured party under the UCC as in effect in any relevant
jurisdiction and also

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shall be entitled, without limitation, to exercise the following rights,
which each Pledgor hereby agrees to be commercially reasonable:

     (i) to receive all amounts payable in respect of the Collateral otherwise payable under
Section 6 hereof to the respective Pledgor;

     (ii) to transfer all or any part of the Collateral into the Pledgee’s name or the name
of its nominee or nominees;

     (iii) to accelerate any Pledged Note which may be accelerated in accordance with its
terms, and take any other lawful action to collect upon any Pledged Note (including, without
limitation, to make any demand for payment thereon);

     (iv) to vote (and exercise all rights and powers in respect of voting) all or any part
of the Collateral (whether or not transferred into the name of the Pledgee) and give all
consents, waivers and ratifications in respect of the Collateral and otherwise act with
respect thereto as though it were the outright owner thereof (each Pledgor hereby
irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such
Pledgor, with full power of substitution to do so);

     (v) at any time and from time to time to sell, assign and deliver, or grant options to
purchase, all or any part of the Collateral, or any interest therein, at any public or
private sale, without demand of performance, advertisement or, notice of intention to sell
or of the time or place of sale or adjournment thereof or to redeem or otherwise purchase or
dispose (all of which are hereby waived by each Pledgor), for cash, on credit or for other
property, for immediate or future delivery without any assumption of credit risk, and for
such price or prices and on such terms as the Pledgee in its absolute discretion may
determine, provided that at least 10 days’ written notice of the time and place of
any such sale shall be given to the respective Pledgor. The Pledgee shall not be obligated
to make any such sale of Collateral regardless of whether any such notice of sale has
theretofore been given. Each Pledgor hereby waives and releases to the fullest extent
permitted by law any right or equity of redemption with respect to the Collateral, whether
before or after sale hereunder, and all rights, if any, of marshalling the Collateral and
any other security or the Obligations or otherwise. At any such sale, unless
prohibited by applicable law, the Pledgee on behalf of the Secured Creditors may bid
for and purchase all or any part of the Collateral so sold free from any such right or
equity of redemption. Neither the Pledgee nor any other Secured Creditor shall be liable for
failure to collect or realize upon any or all of the Collateral or for any delay in so doing
nor shall any of them be under any obligation to take any action whatsoever with regard
thereto; and

     (vi) to set-off any and all Collateral against any and all Obligations, and to withdraw
any and all cash or other Collateral from any and all Collateral Accounts and to apply such
cash and other Collateral to the payment of any and all Obligations.

          8. REMEDIES, CUMULATIVE, ETC. Each and every right, power and remedy of the Pledgee provided for in this
Agreement or in
any other Secured Debt Agreement, or now

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or hereafter existing at law or in equity or by statute
shall be cumulative and concurrent and shall be in addition to every other such right, power or
remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Creditor of
any one or more of the rights, powers or remedies provided for in this Agreement or any other
Secured Debt Agreement or now or hereafter existing at law or in equity or by statute or otherwise
shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Creditor
of all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or
any other Secured Creditor to exercise any such right, power or remedy shall operate as a waiver
thereof. No notice to or demand on any Pledgor in any case shall entitle it to any other or
further notice or demand in similar or other circumstances or constitute a waiver of any of the
rights of the Pledgee or any other Secured Creditor to any other or further action in any
circumstances without notice or demand. The Secured Creditors agree that this Agreement may be
enforced only by the action of the Pledgee, in each case, acting upon the instructions of the
Required Secured Creditors, and that no other Secured Creditor shall have any right individually to
seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby,
it being understood and agreed that such rights and remedies may be exercised by the Pledgee for
the benefit of the Secured Creditors upon the terms of this Agreement and the Security Agreement.

          9. APPLICATION OF PROCEEDS. (a) All monies collected by the Pledgee upon any sale or other disposition of the
Collateral pursuant to the terms of this Agreement, together with all other monies received by the
Pledgee hereunder, shall be applied in the manner provided in the Security Agreement.

          (b) It is understood and agreed that each Pledgor shall remain jointly and severally liable
with respect to its Obligations to the extent of any deficiency between the amount of the proceeds
of the Collateral pledged by it hereunder and the aggregate amount of such Obligations.

          10. PURCHASERS OF COLLATERAL. Upon any sale of the Collateral by the Pledgee hereunder (whether by virtue of the power of
sale herein granted, pursuant to judicial process or otherwise), the receipt of the
Pledgee or the officer making such sale shall be a sufficient discharge to the purchaser or
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 Pledgee or such officer
or be answerable in any way for the misapplication or nonapplication thereof.

          11. INDEMNITY. Each Pledgor jointly and severally agrees (i) to indemnify and hold harmless the Pledgee
and each other Secured Creditor (in their capacity as such) and their respective successors,
assigns, employees, advisors, agents and affiliates (as to any Indemnitee, its “Related
Parties”) (individually an “Indemnitee”, and collectively, the “Indemnitees”)
from and against any and all obligations, damages, injuries, penalties, claims, demands, losses,
judgments and liabilities (including, without limitation, liabilities for penalties) of whatsoever
kind or nature, and (ii) to reimburse each Indemnitee for all reasonable costs, expenses and
disbursements, including reasonable attorneys’ fees and expenses (limited, in the case of any Event
of Default, to one counsel to the Administrative Agent, one additional counsel for all Issuing
Lenders and Lenders, taken as a whole, one local counsel for the Administrative Agent and the
Lenders, taken as a whole, in each relevant jurisdiction, and, solely in the case of

15

 

an actual or
perceived conflict of interests, one additional counsel in each relevant jurisdiction to each group
of affected Lenders similarly situated, taken as a whole), in each case arising out of or resulting
from this Agreement or the exercise by any Indemnitee of any right or remedy granted to it
hereunder (but excluding any obligations, damages, injuries, penalties, claims, demands, losses,
judgments and liabilities (including, without limitation, liabilities for penalties) or expenses of
whatever kind or nature to the extent incurred or arising by reason of gross negligence or willful
misconduct of such Indemnitee or its Related Parties (as determined by a court of competent
jurisdiction in a final and non-appealable decision)). In no event shall the Pledgee hereunder be
liable, in the absence of gross negligence or willful misconduct on its part (as determined by a
court of competent jurisdiction in a final and non-appealable decision), for any matter or thing in
connection with this Agreement other than to account for monies or other property actually received
by it in accordance with the terms hereof. If and to the extent that the obligations of any
Pledgor under this Section 11 are unenforceable for any reason, such Pledgor hereby agrees
to make the maximum contribution to the payment and satisfaction of such obligations which is
permissible under applicable law. The indemnity obligations of each Pledgor contained in this
Section 11 shall continue in full force and effect notwithstanding the full payment of all
the Notes issued under the Credit Agreement, the termination of all Interest Rate Protection
Agreements and Other Hedging Agreements and Letters of Credit, and the payment of all other
Obligations and notwithstanding the discharge thereof.

          12. PLEDGEE NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER. (a) Nothing herein shall be construed to make the Pledgee or any other Secured Creditor
liable as a member of any limited liability company or as a partner of any partnership and neither
the Pledgee nor any other Secured Creditor by virtue of this Agreement or otherwise (except as
referred to in the following sentence) shall have any of the duties, obligations or liabilities of
a member of any limited liability company or as a partner in any partnership. The parties hereto
expressly agree that, unless the Pledgee shall become the absolute owner of
Collateral consisting of a Limited Liability Company Interest or a Partnership Interest
pursuant hereto and is admitted as a member or partner of the respective Limited Liability Company
or Partnership, this Agreement shall not be construed as creating a partnership or joint venture
among the Pledgee, any other Secured Creditor, any Pledgor and/or any other Person.

          (b) Except as provided in the last sentence of paragraph (a) of this Section 12, the
Pledgee, by accepting this Agreement, did not intend to become a member of any limited liability
company or a partner of any partnership or otherwise be deemed to be a co-venturer with respect to
any Pledgor, any limited liability company, partnership and/or any other Person either before or
after an Event of Default shall have occurred. The Pledgee shall have only those powers set forth
herein and the Secured Creditors shall assume none of the duties, obligations or liabilities of a
member of any limited liability company or as a partner of any partnership or any Pledgor except as
provided in the last sentence of paragraph (a) of this Section 12.

          (c) The Pledgee and the other Secured Creditors shall not be obligated to perform or discharge
any obligation of any Pledgor as a result of the pledge hereby effected.

          (d) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges
and authority so created, shall not at any time or in any event obligate the Pledgee or any other
Secured Creditor to appear in or defend any action or proceeding relating to

16

 

the Collateral to
which it is not a party, or to take any action hereunder or thereunder, or to expend any money or
incur any expenses or perform or discharge any obligation, duty or liability under the Collateral.

          13. FURTHER ASSURANCES; POWER-OF-ATTORNEY. (a) Each Pledgor agrees that it will join with the Pledgee in executing and, at such
Pledgor’s own expense, file and refile under the UCC or other applicable law such financing
statements, continuation statements and other documents, in form reasonably acceptable to the
Pledgee, in such offices as the Pledgee (acting on its own or on the instructions of the Required
Secured Creditors) may deem reasonably necessary or appropriate and wherever required or permitted
by law in order to perfect and preserve the Pledgee’s security interest in the Collateral hereunder
and hereby authorizes the Pledgee to file financing statements and amendments thereto relative to
all or any part of the Collateral (including, without limitation, financing statements which list
the Collateral specifically and/or “all assets” as collateral) without the signature of such
Pledgor where permitted by law, and agrees to do such further acts and things and to execute and
deliver to the Pledgee such additional conveyances, assignments, agreements and instruments as the
Pledgee may reasonably require or deem reasonably necessary to carry into effect the purposes of
this Agreement or to further assure and confirm unto the Pledgee its rights, powers and remedies
hereunder or thereunder.

          (b) Each Pledgor hereby constitutes and appoints the Pledgee its true and lawful
attorney-in-fact, irrevocably, with full authority in the place and stead of such Pledgor and in
the name of such Pledgor or otherwise, from time to time solely after the occurrence and during the
continuance of an Event of Default, in the Pledgee’s reasonable discretion, to act, require,
demand, receive and give acquittance for any and all monies and claims for monies due or to become
due to such Pledgor under or arising out of the Collateral, to endorse any checks or
other instruments or orders in connection therewith and to file any claims or take any action
or institute any proceedings and to execute any instrument which the Pledgee may deem necessary or
advisable to accomplish the purposes of this Agreement, which appointment as attorney is coupled
with an interest.

          14. THE PLEDGEE AS COLLATERAL AGENT. The Pledgee will hold in accordance with this Agreement all items of the Collateral at any
time received under this Agreement. It is expressly understood, acknowledged and agreed by each
Secured Creditor that by accepting the benefits of this Agreement, each such Secured Creditor
acknowledges and agrees that the obligations of the Pledgee as holder of the Collateral and
interests therein and with respect to the disposition thereof, and otherwise under this Agreement,
are only those expressly set forth in this Agreement and in Section 12 of the Credit Agreement.
The Pledgee shall act hereunder on the terms and conditions set forth herein and in Section 12 of
the Credit Agreement.

          15. TRANSFER BY THE PLEDGORS. No Pledgor will sell or otherwise dispose of, grant any option with respect to, or
mortgage, pledge or otherwise encumber any of the Collateral or any interest therein, except as
permitted by the Credit Agreement.

17

 

          16. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGORS. (a) Each Pledgor represents, warrants and covenants as to itself and each of its
Subsidiaries that:

     (i) it is the legal, beneficial and record owner of, and has good title to, all of its
Collateral consisting of one or more Securities, Partnership Interests and Limited Liability
Company Interests and that it has sufficient interest in all of its Collateral in which a
security interest is purported to be created hereunder for such security interest to attach
(subject, in each case, to no pledge, lien, mortgage, hypothecation, security interest,
charge, option, Adverse Claim or other encumbrance whatsoever, except the liens and security
interests created by this Agreement and nonconsensual Liens permitted by Section 10.01(i) of
the Credit Agreement);

     (ii) it has full power, authority and legal right to pledge all the Collateral pledged
by it pursuant to this Agreement;

     (iii) this Agreement has been duly authorized, executed and delivered by such Pledgor
and constitutes a legal, valid and binding obligation of such Pledgor enforceable against
such Pledgor in accordance with its terms, except to the extent that the enforceability
hereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws generally affecting creditors’ rights and by equitable principles
(regardless of whether enforcement is sought in equity or at law);

     (iv) except to the extent already obtained or made, no consent of any other party
(including, without limitation, any stockholder, partner, member or creditor of such Pledgor
or any of its Subsidiaries) and no consent, license, permit, approval or authorization of,
exemption by, notice or report to, or registration, filing or declaration with, any
governmental authority is required to be obtained by such Pledgor in connection with (a) the
execution, delivery or performance of this Agreement by such Pledgor, (b) the validity or
enforceability of this Agreement against such Pledgor (except as set forth in clause (iii)
above), (c) the perfection or enforceability of the Pledgee’s security interest in such
Pledgor’s Collateral, or (d) except for compliance with or as may be required by applicable
securities laws, the exercise by the Pledgee of any of its rights or remedies provided
herein;

     (v) neither the execution, delivery or performance by such Pledgor of this Agreement,
nor compliance by it with the terms and provisions hereof nor the consummation of the
transactions contemplated herein: (i) will contravene any provision of any applicable law,
statute, rule or regulation, or any applicable order, writ, injunction or decree of any
court, arbitrator or governmental instrumentality, domestic or foreign, applicable to such
Pledgor; (ii) will conflict or be inconsistent with or result in any breach of any of the
terms, covenants, conditions or provisions of, or constitute a default under, or result in
the creation or imposition of (or the obligation to create or impose) any Lien (except
pursuant to the Security Documents) upon any of the properties or assets of such Pledgor or
any of its Subsidiaries pursuant to the terms of any indenture, lease, mortgage, deed of
trust, credit agreement, loan agreement or any other material agreement, contract or other
instrument to which such Pledgor or any of its Subsidiaries is a party or is

18

 

otherwise
bound, or by which it or any of its properties or assets is bound or to which it may be
subject; or (iii) will violate any provision of the certificate of incorporation, by-laws,
certificate of partnership, partnership agreement, certificate of formation or limited
liability company agreement (or equivalent organizational documents), as the case may be, of
such Pledgor or any of its Subsidiaries;

     (vi) all of such Pledgor’s Collateral (consisting of Securities, Limited Liability
Company Interests or Partnership Interests) has been duly and validly issued and acquired,
is fully paid and non-assessable and is subject to no options to purchase or similar rights,
except pursuant to a sale or other disposition transaction permitted by the Credit
Agreement;

     (vii) each of such Pledgor’s Pledged Notes constitutes, or when executed by the obligor
thereof will constitute, the legal, valid and binding obligation of such obligor,
enforceable in accordance with its terms, except to the extent that the enforceability
thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws generally affecting creditors’ rights and by equitable principles
(regardless of whether enforcement is sought in equity or at law);

     (viii) the pledge, collateral assignment and delivery to the Pledgee of such Pledgor’s
Collateral consisting of Certificated Securities and Pledged Notes pursuant to this
Agreement creates a valid and perfected first priority security interest in such
Certificated Securities and Pledged Notes, and the proceeds thereof, subject to no prior
Lien or encumbrance or to any agreement purporting to grant to any third party a Lien
or encumbrance on the property or assets of such Pledgor which would include the Securities
and the Pledgee is entitled to all the rights, priorities and benefits afforded by the UCC
or other relevant law as enacted in any relevant jurisdiction to perfect security interests
in respect of such Collateral; and

     (ix) to the extent required by Section 3.2 hereof, “control” (as defined in
Section 8-106 of the UCC) has been obtained by the Pledgee over all of such Pledgor’s
Collateral consisting of Securities (including, without limitation, Notes which are
Securities) with respect to which such “control” may be obtained pursuant to Section 8-106
of the UCC except to the extent that the obligation of the applicable Pledgor to provide the
Pledgee with “control” of such Collateral has not yet arisen under this Agreement.

          (b) Each Pledgor covenants and agrees that it will defend the Pledgee’s right, title and
security interest in and to such Pledgor’s Collateral and the proceeds thereof against the claims
and demands of all persons whomsoever; and each Pledgor covenants and agrees that it will have like
title to and right to pledge any other property at any time hereafter pledged to the Pledgee by
such Pledgor as Collateral hereunder and will likewise defend the right thereto and security
interest therein of the Pledgee and the other Secured Creditors.

          (c) Each Pledgor covenants and agrees that it will take no action which would violate any of
the terms of any Secured Debt Agreement.

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          17. LEGAL NAMES; TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A
TRANSMITTING UTILITY); JURISDICTION OF ORGANIZATION; ORGANIZATIONAL IDENTIFICATION NUMBERS; CHANGES
THERETO; ETC. The exact legal name of each Pledgor, the type of organization of such Pledgor, whether or
not such Pledgor is a Registered Organization, the jurisdiction of organization of such Pledgor,
the organizational identification number (if any) of such Pledgor, and whether or not such Pledgor
is a Transmitting Utility, is listed on Annex A hereto for such Pledgor. No Pledgor shall
change its legal name, its type of organization (including without limitation its status as (x) a
Registered Organization, in the case of each Registered Organization or (y) a Transmitting Utility
or a Person which is not a Transmitting Utility, as the case may be), its jurisdiction of
organization, or its organizational identification number (if any) from that listed on Annex
A hereto for such Pledgor or those that may have been established after the date of this
Agreement in accordance with the immediately succeeding sentence of this Section 17. No
Pledgor shall change its legal name, its type of organization, its status as a Registered
Organization (in the case of a Registered Organization), its status as a Transmitting Utility or as
a Person which is not a Transmitting Utility, as the case may be, its jurisdiction of organization,
or its organizational identification number (if any), except that any such changes shall be
permitted (so long as not in violation of the applicable requirements of the Secured Debt
Agreements and so long as same do not involve (x) a Registered Organization ceasing to constitute
same or (y) any Pledgor changing its jurisdiction of organization from the United States or a State
thereof to a jurisdiction of organization outside the United States or a State thereof) if (i) it
shall have given to the Pledgee
not less than 15 days’ prior written notice of each change to the information listed on
Annex A (or such shorter notice as is acceptable to the Pledgee) (as adjusted for any
subsequent changes thereto previously made in accordance with this sentence), together with a
supplement to Annex A which shall correct all information contained therein for the
respective Pledgor, and (ii) in connection with such respective change or changes, it shall have
taken all action reasonably requested by the Pledgee to maintain the security interests of the
Pledgee in the Collateral intended to be granted hereby at all times fully perfected and in full
force and effect. In addition, to the extent that any Pledgor does not have an organizational
identification number on the date hereof and later obtains one, such Pledgor shall promptly
thereafter notify the Pledgee of such organizational identification number and shall take all
actions reasonably satisfactory to the Pledgee to the extent necessary to maintain the security
interest of the Pledgee in the Collateral intended to be granted hereby fully perfected and in full
force and effect.

          18. PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC. Prior to the Termination Date, the obligations of each Pledgor under this Agreement shall
be absolute and unconditional and shall remain in full force and effect without regard to, and
shall not be released, suspended, discharged, terminated or otherwise affected by any circumstance
or occurrence whatsoever, including, without limitation: (i) any renewal, extension, amendment or
modification of or addition or supplement to or deletion from any Secured Debt Agreement or any
other instrument or agreement referred to therein, or any assignment or transfer of any thereof
(except to the extent that any such modification expressly and directly relates to such Pledgor’s
obligations under this Agreement); (ii) any waiver, consent, extension, indulgence or other action
or inaction under or in respect of any such agreement or instrument including, without limitation,
this Agreement; (iii) any furnishing of any additional security to the Pledgee or its assignee or
any acceptance thereof or any release of any security by the Pledgee or its assignee; (iv) any

20

 

limitation on any party’s liability or obligations under any such instrument or agreement or any
invalidity or unenforceability, in whole or in part, of any such instrument or agreement or any
term thereof; or (v) any bankruptcy, insolvency, reorganization, composition, adjustment,
dissolution, liquidation or other like proceeding relating to any Pledgor or any Subsidiary of any
Pledgor, or any action taken with respect to this Agreement by any trustee or receiver, or by any
court, in any such proceeding, whether or not such Pledgor shall have notice or knowledge of any of
the foregoing.

          19. TERMINATION; RELEASE. (a) After the Termination Date, this Agreement and the security interest created hereby
shall automatically terminate (provided that all indemnities set forth herein including, without
limitation, in Section 11 hereof shall survive any such termination), and the Pledgee, at
the request and expense of such Pledgor, will execute and deliver to such Pledgor a proper
instrument or instruments (including UCC termination statements) acknowledging the satisfaction and
termination of this Agreement (including, without limitation, UCC termination statements and
instruments of satisfaction, discharge and/or reconveyance), and will duly release from the
security interest created hereby and, and will duly assign, transfer and deliver to such Pledgor
(without recourse and without any representation or warranty) such of the Collateral as may be in
the possession of the Pledgee and as has not theretofore been sold or otherwise applied or released
pursuant to this Agreement, together with any moneys at the time held by the Pledgee
or any of its sub-agents hereunder and, with respect to any Collateral consisting of an
Uncertificated Security, a Partnership Interest or a Limited Liability Company Interest (other than
an Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on
the books of a Clearing Corporation or Securities Intermediary), a termination of the agreement
relating thereto executed and delivered by the issuer of such Uncertificated Security pursuant to
Section 3.2(a)(ii) or by the respective partnership or limited liability company pursuant
to Section 3.2(a)(iv)(2).

          (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person
other than a Credit Party in accordance with the Credit Agreement) or any other transaction
expressly permitted by the Credit Agreement requires a release of the relevant Collateral (x) at
any time prior to the time at which all Credit Document Obligations have been paid in full and all
Commitments and Letters of Credit under the Credit Agreement have been terminated, in connection
with a sale or other disposition permitted by Section 10.02 of the Credit Agreement or is otherwise
released at the direction of the Required Lenders (or all the Lenders if required by Section 13.12
of the Credit Agreement) or (y) at any time thereafter, to the extent permitted by the other
Secured Debt Agreements, and in the case of clauses (x) and (y), the proceeds of such sale or
disposition (or from such release) are applied in accordance with the terms of the Credit Agreement
or such other Secured Debt Agreement, as the case may be, to the extent required to be so applied,
the Pledgee, at the request and expense of such Pledgor, will duly release from the security
interest created hereby (and will execute and deliver such documentation, including termination or
partial release statements and the like in connection therewith) and assign, transfer and deliver
to such Pledgor (without recourse and without any representation or warranty) such of the
Collateral as is then being (or has been) so sold or released and as may be in the possession of
the Pledgee (or, in the case of Collateral held by any sub-agent designated pursuant to Section
4 hereto, such sub-agent) and has not theretofore been released pursuant to this Agreement.

21

 

          (c) At any time that any Pledgor desires that Collateral be released as provided in the
foregoing Section 19(a) or (b), it shall deliver to the Pledgee (and the relevant
sub-agent, if any, designated pursuant to Section 4 hereof) a certificate signed by an
authorized officer of such Pledgor stating that the release of the respective Collateral is
permitted pursuant to Section 19(a) or (b) hereof.

          (d) The Pledgee shall have no liability whatsoever to any other Secured Creditor as the result
of any release of Collateral by it in accordance with (or which the Collateral Agent in good faith
believes to be in accordance with) this Section 19.

          20. NOTICES, ETC. All notices and communications hereunder shall be in writing and sent or delivered by mail,
telecopy or overnight courier service and all such notices and communications shall, when mailed,
telecopied or sent by overnight courier, be effective when deposited in the mails, delivered to the
overnight courier or sent by telecopier, except that notices and communications to the Pledgee or
any Pledgor shall not be effective until received by the Pledgee or such Pledgor, as the case may
be. All such notices and other communications shall be in writing and addressed as follows:

	 	(a)	 	if to any Pledgor, at:
	 
	 	 	 	c/o Town Sports International, LLC

5 Penn Plaza

4th Floor

New York, New York 10001

Attention: Dan Gallagher

Telephone No.: (212) 246-6700

Telecopier No.: (212) 246-8422
	 
	 	(b)	 	if to the Pledgee, at:
	 
	 	 	 	60 Wall Street

New York, New York 10005

Attention: Carin Keegan

Telephone No.: (212) 250-6083

Telecopier No.: (212) 797-5690

          (c) if to any Lender Creditor, at such address as such Lender Creditor shall have specified in
the Credit Agreement;

          (d) if to any Other Creditor, at such address as such Other Creditor shall have specified in
writing to the Borrower and the Pledgee;

or at such other address or addressed to such other individual as shall have been furnished in
writing by any Person described above to the party required to give notice hereunder.

          21. WAIVER; AMENDMENT. Except as provided in Sections 29 and 31 hereof, none of the terms and conditions of this
Agreement may be changed, waived, modified or

22

 

varied in any manner whatsoever except in accordance
with the requirements specified in Section 10.2 of the Security Agreement.

          22. MISCELLANEOUS. This Agreement shall and shall be binding upon the parties hereto and their respective
successors and assigns and shall inure to the benefit of and be enforceable by each of the parties
hereto and their respective successors and assigns, provided that no Pledgor may assign any
of its rights or obligations hereunder without the prior written consent of the Pledgee (with the
prior written consent of the Required Secured Creditors). All agreements, statements,
representations and warranties made by each Pledgor herein or in any certificate or other
instrument delivered by such Pledgor or on its behalf under this Agreement shall be considered to
have been relied upon by the Secured Creditors and shall survive the execution and delivery of this
Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured
Creditors or on their behalf.

          23. HEADINGS DESCRIPTIVE. The headings of the several Sections of this Agreement are inserted for convenience only
and shall not in any way affect the meaning or construction of any provision of this Agreement.

          24. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION
OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT SHALL BE BROUGHT IN THE
COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN
EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH PLEDGOR HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY,
GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PLEDGOR
HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER
SUCH PLEDGOR, AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO
THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH
COURT LACKS PERSONAL JURISDICTION OVER SUCH PLEDGOR. EACH PLEDGOR FURTHER IRREVOCABLY CONSENTS TO
THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY
THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH PLEDGOR
AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 20 ABOVE, SUCH SERVICE TO BECOME
EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH
SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR
PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS
IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN, HOWEVER, SHALL AFFECT THE RIGHT OF THE PLEDGEE
UNDER THIS AGREEMENT, OR ANY SECURED CREDITOR,

23

 

TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY
LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY PLEDGOR IN ANY OTHER
JURISDICTION.

          (b) EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION
WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a)
ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT
ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

          (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          25. PLEDGOR’S DUTIES. It is expressly agreed, anything herein contained to the contrary notwithstanding, that
each Pledgor shall remain liable to perform all of the obligations, if any, assumed by it with
respect to the Collateral and the Pledgee shall not have any obligations or liabilities with
respect to any Collateral by reason of or arising out of this Agreement, nor shall the Pledgee be
required or obligated in any manner to perform or fulfill any of the obligations of any Pledgor
under or with respect to any Collateral.

          26. COUNTERPARTS. This Agreement may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which when so executed and delivered shall be an original,
but all of which shall together constitute one and the same instrument. A set of counterparts
executed by all the parties hereto shall be lodged with each Pledgor and the Pledgee.

          27. SEVERABILITY. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

          28. RECOURSE. This Agreement is made with full recourse to each Pledgor and pursuant to and upon all the
representations, warranties, covenants and agreements on the part of such Pledgor contained herein
and in the other Secured Debt Agreements and otherwise in writing in connection herewith or
therewith.

          29. ADDITIONAL PLEDGORS. It is understood and agreed that any Wholly-Owned Domestic Subsidiary of Holdings that is
required to execute a counterpart of this Agreement after the date hereof pursuant to the Credit
Agreement or any other Credit Document shall become a Pledgor hereunder by (x) executing a
counterpart hereof or a Joinder Agreement

24

 

and delivering the same to the Pledgee, (y) delivering
supplements to Annexes A through G hereto as are necessary to cause such annexes to
be complete and accurate with respect to such additional Pledgor on such date and (z) taking all
actions as specified in this Agreement as would have been taken by such Pledgor had it been an
original party to this Agreement, in each case with all documents required
above to be delivered to the Pledgee and with all documents and actions required above to be
taken to the reasonable satisfaction of the Pledgee.

          30. LIMITED OBLIGATIONS. It is the desire and intent of each Pledgor and the Secured Creditors that this Agreement
shall be enforced against each Pledgor to the fullest extent permissible under the laws applied in
each jurisdiction in which enforcement is sought. Notwithstanding anything to the contrary
contained herein, in furtherance of the foregoing, it is noted that the obligations of each Pledgor
constituting a Subsidiary Guarantor have been limited as provided in the Subsidiaries Guaranty.

          31. RELEASE OF PLEDGORS. If at any time all of the Equity Interests of any Pledgor owned by the Borrower or any of
its Subsidiaries are sold to a Person other than a Credit Party in a transaction permitted pursuant
to the Credit Agreement (and which does not violate the terms of any other Secured Debt Agreement
then in effect), then, such Pledgor shall be released as a Pledgor pursuant to this Agreement
without any further action hereunder (it being understood that the sale of all of the Equity
Interests in any Person that owns, directly or indirectly, all of the Equity Interests in any
Pledgor shall be deemed to be a sale of all of the Equity Interests in such Pledgor for purposes of
this Section), and the Pledgee is authorized and directed to execute and deliver such instruments
of release as are reasonably satisfactory to it. At any time that the Borrower desires that a
Pledgor be released from this Agreement as provided in this Section 31, the Borrower shall
deliver to the Pledgee a certificate signed by a principal executive officer of the Borrower
stating that the release of such Pledgor is permitted pursuant to this Section 31. If
requested by Pledgee (although the Pledgee shall have no obligation to make any such request), the
Borrower shall furnish legal opinions (from counsel reasonably acceptable to the Pledgee) to the
effect set forth in the immediately preceding sentence. The Pledgee shall have no liability
whatsoever to any other Secured Creditor as a result of the release of any Pledgor by it in
accordance with, or which it believes to be in accordance with, this Section 31.

*   *   *   *

25

 

          IN WITNESS WHEREOF, each Pledgor and the Pledgee have caused this Agreement to be executed by
their duly elected officers duly authorized as of the date first above written.

	 	 	 	 	 	 	 

	 	 	TOWN SPORTS INTERNATIONAL, LLC,	 	 
	 

	 	 	 	as a Pledgor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	TOWN SPORTS INTERNATIONAL HOLDINGS, INC.,	 	 
	 

	 	 	 	as a Pledgor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Daniel G. Gallagher	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Daniel G. Gallagher	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI 217 BROADWAY, LLC
	 

	 	TSI ALEXANDRIA, LLC
	 

	 	TSI ALEXANDRIA WEST, LLC
	 

	 	TSI ALLSTON, LLC
	 

	 	TSI ANDOVER, LLC
	 

	 	TSI ARDMORE, LLC
	 

	 	TSI ARTHRO-FITNESS SERVICES, LLC
	 

	 	TSI ASTORIA, LLC
	 

	 	TSI BATTERY PARK, LLC
	 

	 	TSI BAY RIDGE 86TH STREET, LLC
	 

	 	TSI BAYONNE, LLC
	 

	 	TSI BAYRIDGE, LLC
	 

	 	TSI BENSONHURST, LLC
	 

	 	TSI BETHESDA, LLC
	 

	 	TSI BOYLSTON, LLC
	 

	 	TSI BROADWAY, LLC
	 

	 	TSI BROOKLYN BELT, LLC
	 

	 	TSI BRUNSWICK, LLC
	 

	 	TSI BULFINCH, LLC
	 

	 	TSI BUTLER, LLC
	 

	 	TSI CARMEL, LLC
	 

	 	TSI CASH MANAGEMENT, LLC
	 

	 	TSI CENTRAL SQUARE, LLC
	 

	 	TSI CHERRY HILL, LLC
	 

	 	TSI CHEVY CHASE, LLC
	 

	 	TSI CLARENDON, LLC
	 

	 	TSI CLIFTON, LLC
	 

	 	TSI COBBLE HILL, LLC
	 

	 	TSI COLONIA, LLC
	 

	 	TSI COLUMBIA HEIGHTS, LLC
	 

	 	TSI COMMACK, LLC
	 

	 	TSI CONNECTICUT AVENUE, LLC
	 

	 	TSI COURT STREET, LLC
	 

	 	TSI CROTON, LLC
	 

	 	TSI DANBURY, LLC
	 

	 	TSI DEDHAM, LLC
	 

	 	TSI DEER PARK, LLC,
	 

	 	     each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	     
     Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI DOBBS FERRY, LLC
	 

	 	TSI DAVIS SQUARE, LLC
	 

	 	TSI DOWNTOWN CROSSING, LLC
	 

	 	TSI DUPONT CIRCLE, INC.
	 

	 	TSI DUPONT II, INC.
	 

	 	TSI EAST 23, LLC
	 

	 	TSI EAST 31, LLC
	 

	 	TSI EAST 34, LLC
	 

	 	TSI EAST 36, LLC
	 

	 	TSI EAST 41, LLC
	 

	 	TSI EAST 48, LLC
	 

	 	TSI EAST 51, LLC
	 

	 	TSI EAST 59, LLC
	 

	 	TSI EAST 76, LLC
	 

	 	TSI EAST 86, LLC
	 

	 	TSI EAST 91, LLC
	 

	 	TSI EAST BRUNSWICK, LLC
	 

	 	TSI EAST MEADOW, LLC
	 

	 	TSI ENGLEWOOD, LLC
	 

	 	TSI F STREET, LLC
	 

	 	TSI FAIRFAX, LLC
	 

	 	TSI FENWAY, LLC
	 

	 	TSI FIRST AVENUE, LLC
	 

	 	TSI FOREST HILLS, LLC
	 

	 	TSI FORT LEE, LLC
	 

	 	TSI FRAMINGHAM, LLC
	 

	 	TSI FRANKLIN (MA), LLC
	 

	 	TSI FRANKLIN PARK, LLC
	 

	 	TSI FREEHOLD, LLC
	 

	 	TSI GALLERY PLACE, LLC
	 

	 	TSI GARDEN CITY, LLC
	 

	 	TSI GARNERVILLE, LLC
	 

	 	TSI GEORGETOWN, LLC
	 

	 	TSI GERMANTOWN, LLC
	 

	 	TSI GLENDALE, LLC
	 

	 	TSI GLOVER, LLC
	 

	 	TSI GRAND CENTRAL, LLC
	 

	 	TSI GREAT NECK, LLC
	 

	 	TSI GREENWICH, LLC
	 

	 	TSI HARTSDALE, LLC,
	 

	 	     each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	          
Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI HAWTHORNE, LLC
	 

	 	TSI HERALD, LLC
	 

	 	TSI HICKSVILLE, LLC
	 

	 	TSI HIGHPOINT, LLC
	 

	 	TSI HOBOKEN, LLC
	 

	 	TSI HOBOKEN NORTH, LLC
	 

	 	TSI HOLDINGS (CIP), LLC
	 

	 	TSI HOLDINGS (DC), LLC
	 

	 	TSI HOLDINGS (MA), LLC
	 

	 	TSI HOLDINGS (MD), LLC
	 

	 	TSI HOLDINGS (NJ), LLC
	 

	 	TSI HOLDINGS (PA), LLC
	 

	 	TSI HOLDINGS (VA), LLC
	 

	 	TSI HUNTINGTON, LLC
	 

	 	TSI INTERNATIONAL, INC.
	 

	 	TSI IRVING PLACE, LLC
	 

	 	TSI JAMAICA ESTATES, LLC
	 

	 	TSI JERSEY CITY, LLC
	 

	 	TSI K STREET, LLC
	 

	 	TSI LARCHMONT, LLC
	 

	 	TSI LEXINGTON (MA), LLC
	 

	 	TSI LINCOLN, LLC
	 

	 	TSI LIVINGSTON, LLC
	 

	 	TSI LONG BEACH, LLC
	 

	 	TSI LYNNFIELD, LLC
	 

	 	TSI M STREET, LLC
	 

	 	TSI MAHWAH, LLC
	 

	 	TSI MAMARONECK, LLC
	 

	 	TSI MARKET STREET, LLC

TSI MARLBORO, LLC
	 

	 	TSI MATAWAN, LLC
	 

	 	TSI MERCER STREET, LLC
	 

	 	TSI MIDWOOD, LLC
	 

	 	TSI MONTCLAIR, LLC
	 

	 	TSI MORRIS PARK, LLC
	 

	 	TSI MURRAY HILL, LLC
	 

	 	TSI NANUET, LLC
	 

	 	TSI NATICK, LLC
	 

	 	TSI NEW ROCHELLE, LLC,
	 

	 	     each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	          
Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI NEWARK, LLC
	 

	 	TSI NEWBURY STREET, LLC
	 

	 	TSI NEWTON, LLC
	 

	 	TSI NO SWEAT, LLC
	 

	 	TSI NORTH BETHESDA, LLC
	 

	 	TSI NORWALK, LLC
	 

	 	TSI OCEANSIDE, LLC
	 

	 	TSI OLD BRIDGE, LLC
	 

	 	TSI PARSIPPANY, LLC
	 

	 	TSI PLAINSBORO, LLC
	 

	 	TSI PORT JEFFERSON, LLC
	 

	 	TSI PRINCETON, LLC
	 

	 	TSI PRINCETON NORTH, LLC
	 

	 	TSI PROVIDENCE DOWNTOWN, LLC
	 

	 	TSI PROVIDENCE EASTSIDE, LLC
	 

	 	TSI RADNOR, LLC
	 

	 	TSI RAMSEY, LLC
	 

	 	TSI READE STREET, LLC
	 

	 	TSI REGO PARK, LLC
	 

	 	TSI RIDGEWOOD, LLC
	 

	 	TSI RODIN PLACE, LLC
	 

	 	TSI SCARSDALE, LLC
	 

	 	TSI SEAPORT, LLC
	 

	 	TSI SHERIDAN, LLC
	 

	 	TSI SILVER SPRING, LLC
	 

	 	TSI SMITHTOWN, LLC
	 

	 	TSI SOCIETY HILL, LLC
	 

	 	TSI SOHO, LLC
	 

	 	TSI SOMERS, LLC
	 

	 	TSI SOMERSET, LLC
	 

	 	TSI SOUTH BETHESDA, LLC
	 

	 	TSI SOUTH END, LLC
	 

	 	TSI SOUTH PARK SLOPE, LLC
	 

	 	TSI SOUTH STATION, LLC
	 

	 	TSI SPRINGFIELD, LLC
	 

	 	TSI STAMFORD DOWNTOWN, LLC
	 

	 	TSI STAMFORD POST, LLC
	 

	 	TSI STAMFORD RINKS, LLC
	 

	 	TSI STATEN ISLAND, LLC,
	 

	 	     each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	          
Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI STERLING, LLC
	 

	 	TSI SUNNYSIDE, LLC
	 

	 	TSI SYOSSET, LLC
	 

	 	TSI UNIVERSITY MANAGEMENT, LLC
	 

	 	TSI VARICK STREET, LLC
	 

	 	TSI WALL STREET, LLC
	 

	 	TSI WALTHAM, LLC
	 

	 	TSI WASHINGTON, INC.
	 

	 	TSI WATER STREET, LLC
	 

	 	TSI WATERTOWN, LLC
	 

	 	TSI WAYLAND, LLC
	 

	 	TSI WELLESLEY, LLC
	 

	 	TSI WELLINGTON CIRCLE, LLC
	 

	 	TSI WEST 14, LLC
	 

	 	TSI WEST 16, LLC
	 

	 	TSI WEST 23, LLC
	 

	 	TSI WEST 38, LLC
	 

	 	TSI WEST 41, LLC
	 

	 	TSI WEST 44, LLC
	 

	 	TSI WEST 48, LLC
	 

	 	TSI WEST 52, LLC
	 

	 	TSI WEST 73, LLC
	 

	 	TSI WEST 76, LLC
	 

	 	TSI WEST 80, LLC
	 

	 	TSI WEST 94, LLC
	 

	 	TSI WEST 115TH STREET, LLC
	 

	 	TSI WEST 125, LLC
	 

	 	TSI WEST 145TH STREET, LLC
	 

	 	TSI WEST CALDWELL, LLC
	 

	 	TSI WEST HARTFORD, LLC
	 

	 	TSI WEST NEWTON, LLC
	 

	 	TSI WEST NYACK, LLC
	 

	 	TSI WEST SPRINGFIELD, LLC
	 

	 	TSI WESTBOROUGH, LLC
	 

	 	TSI WESTPORT, LLC
	 

	 	TSI WESTWOOD, LLC
	 

	 	TSI WEYMOUTH, LLC,
	 

	 	     each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	          
Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 

	 

	 	TSI WHITE PLAINS, LLC
	 

	 	TSI WHITE PLAINS CITY CENTER, LLC
	 

	 	TSI WHITESTONE, LLC
	 

	 	TSI WOBURN, LLC
	 

	 	TSI WOODMERE, LLC,
	 

	 	each as a Pledgor

	 	 	 	 	 	 	 

	 

	 	By:
	 	/s/ Daniel G. Gallagher
 

Name: Daniel G. Gallagher
	 	 
	 

	 	 	 	Title: Senior Vice President — Chief	 	 
	 

	 	 	 	          
Financial Officer	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

	 	 	 	 	 

	Accepted and Agreed to:	 	 
	 
	 	 	 	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS,	 	 
	 

	 	as Collateral Agent	 	 
	 
	 	 	 	 
	By:

	 	/s/ Carin Keegan
 

Name: Carin Keegan
	 	 
	 

	 	Title: Director	 	 
	 
	By:

	 	/s/ Enrique Landaeta
 

Name: Enrique Landaeta
	 	 
	 

	 	Title: Vice President	 	 

Signature page to Town Sports Pledge Agreement — 2011

 

 

ANNEX A

to

PLEDGE AGREEMENT

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION

(AND WHETHER A REGISTERED ORGANIZATION AND/OR

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION

AND ORGANIZATIONAL IDENTIFICATION NUMBERS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	Town Sports International Holdings, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	 	3754592	 	 	No
	Town Sports International, LLC

	 	Limited Liability Company
	 	Yes
	 	New York
	 	None
	 	No
	TSI 217 Broadway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268991	 	 	No
	TSI Alexandria, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2901743	 	 	No
	TSI Alexandria West, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4330291	 	 	No
	TSI Allston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3899539	 	 	No
	TSI Andover, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269134	 	 	No
	TSI Ardmore, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3387908	 	 	No
	TSI Arthro-Fitness Services, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268994	 	 	No
	TSI Astoria, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268995	 	 	No
	TSI Battery Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268998	 	 	No
	TSI Bay Ridge 86th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269108	 	 	No
	TSI Bayonne, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4536496	 	 	No
	TSI Bayridge, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269001	 	 	No
	TSI Bensonhurst, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4416091	 	 	No
	TSI Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3018449	 	 	No
	TSI Boylston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269330	 	 	No
	TSI Broadway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269002	 	 	No
	TSI Brooklyn Belt, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269004	 	 	No
	TSI Brunswick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4282150	 	 	No
	TSI Bulfinch, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3899536	 	 	No
	TSI Butler, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4239615	 	 	No
	TSI Carmel, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269111	 	 	No
	TSI Cash Management, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269009	 	 	No
	TSI Central Square, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3899543	 	 	No
	TSI Cherry Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3040637	 	 	No
	TSI Chevy Chase, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269632	 	 	No
	TSI Clarendon, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3317876	 	 	No
	TSI Clifton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4195613	 	 	No

 

 

ANNEX A

Page 2

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Cobble Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269013	 	 	No
	TSI Colonia, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928572	 	 	No
	TSI Columbia Heights, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269691	 	 	No
	TSI Commack, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269015	 	 	No
	TSI Connecticut Avenue, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269736	 	 	No
	TSI Court Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269017	 	 	No
	TSI Croton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269019	 	 	No
	TSI Danbury, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269758	 	 	No
	TSI Davis Square, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4160261	 	 	No
	TSI Dedham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4510871	 	 	No
	TSI Deer Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4364946	 	 	No
	TSI Dobbs Ferry, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269114	 	 	No
	TSI Downtown Crossing, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269741	 	 	No
	TSI Dupont Circle, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	 	2220114	 	 	No
	TSI Dupont II, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	 	2439444	 	 	No
	TSI East 23, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269027	 	 	No
	TSI East 31, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269030	 	 	No
	TSI East 34, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269032	 	 	No
	TSI East 36, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269035	 	 	No
	TSI East 41, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269039	 	 	No
	TSI East 48, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269115	 	 	No
	TSI East 51, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269041	 	 	No
	TSI East 59, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269047	 	 	No
	TSI East 76, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269049	 	 	No
	TSI East 86, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269119	 	 	No
	TSI East 91, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269051	 	 	No
	TSI East Brunswick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4343405	 	 	No
	TSI East Meadow, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269024	 	 	No
	TSI Englewood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4099792	 	 	No
	TSI F Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269753	 	 	No
	TSI Fairfax, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2951887	 	 	No
	TSI Fenway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3899546	 	 	No
	TSI First Avenue, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269053	 	 	No
	TSI Forest Hills, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269055	 	 	No
	TSI Fort Lee, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2900457	 	 	No

 

 

ANNEX A

Page 3

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Framingham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269136	 	 	No
	TSI Franklin (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269138	 	 	No
	TSI Franklin Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928574	 	 	No
	TSI Freehold, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3057259	 	 	No
	TSI Gallery Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269770	 	 	No
	TSI Garden City, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269057	 	 	No
	TSI Garnerville, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4376082	 	 	No
	TSI Georgetown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269763	 	 	No
	TSI Germantown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2916539	 	 	No
	TSI Glendale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269128	 	 	No
	TSI Glover, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269240	 	 	No
	TSI Grand Central, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269060	 	 	No
	TSI Great Neck, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269061	 	 	No
	TSI Greenwich, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269761	 	 	No
	TSI Hartsdale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269062	 	 	No
	TSI Hawthorne, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269066	 	 	No
	TSI Herald, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269068	 	 	No
	TSI Hicksville, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4257117	 	 	No
	TSI Highpoint, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3140945	 	 	No
	TSI Hoboken, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3057253	 	 	No
	TSI Hoboken North, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3773429	 	 	No
	TSI Holdings (CIP), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269773	 	 	No
	TSI Holdings (DC), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268598	 	 	No
	TSI Holdings (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268036	 	 	No
	TSI Holdings (MD), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268623	 	 	No
	TSI Holdings (NJ), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3744923	 	 	No
	TSI Holdings (PA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268627	 	 	No
	TSI Holdings (VA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268618	 	 	No
	TSI Huntington, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268974	 	 	No
	TSI International, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	 	2141083	 	 	No
	TSI Irving Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268978	 	 	No
	TSI Jamaica Estates, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4402223	 	 	No
	TSI Jersey City, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3525625	 	 	No
	TSI K Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269781	 	 	No
	TSI Larchmont, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268983	 	 	No

 

 

ANNEX A

Page 4

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Lexington (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269142	 	 	No
	TSI Lincoln, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268985	 	 	No
	TSI Livingston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3305800	 	 	No
	TSI Long Beach, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268987	 	 	No
	TSI Lynnfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269143	 	 	No
	TSI M Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269776	 	 	No
	TSI Mahwah, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2905457	 	 	No
	TSI Mamaroneck, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268989	 	 	No
	TSI Market Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3123380	 	 	No
	TSI Marlboro, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3057264	 	 	No
	TSI Matawan, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3057208	 	 	No
	TSI Mercer Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268990	 	 	No
	TSI Midwood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4268993	 	 	No
	TSI Montclair, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3235308	 	 	No
	TSI Morris Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269130	 	 	No
	TSI Murray Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269000	 	 	No
	TSI Nanuet, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269005	 	 	No
	TSI Natick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269786	 	 	No
	TSI New Rochelle, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4290057	 	 	No
	TSI Newark, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3548397	 	 	No
	TSI Newbury Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269793	 	 	No
	TSI Newton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4188428	 	 	No
	TSI No Sweat, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4071998	 	 	No
	TSI North Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3018427	 	 	No
	TSI Norwalk, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269791	 	 	No
	TSI Oceanside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269012	 	 	No
	TSI Old Bridge, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3057213	 	 	No
	TSI Parsippany, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928568	 	 	No
	TSI Plainsboro, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928573	 	 	No
	TSI Port Jefferson, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269018	 	 	No
	TSI Princeton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2750867	 	 	No
	TSI Princeton North, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3946066	 	 	No
	TSI Providence Downtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4411647	 	 	No
	TSI Providence Eastside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4411648	 	 	No
	TSI Radnor, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4034032	 	 	No

 

 

ANNEX A

Page 5

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Ramsey, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3138497	 	 	No
	TSI Reade Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269021	 	 	No
	TSI Rego Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269031	 	 	No
	TSI Ridgewood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3386883	 	 	No
	TSI Rodin Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3026591	 	 	No
	TSI Scarsdale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269037	 	 	No
	TSI Seaport, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269040	 	 	No
	TSI Sheridan, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269043	 	 	No
	TSI Silver Spring, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3296686	 	 	No
	TSI Smithtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269048	 	 	No
	TSI Society Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3026597	 	 	No
	TSI Soho, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269052	 	 	No
	TSI Somers, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269058	 	 	No
	TSI Somerset, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928575	 	 	No
	TSI South Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3854033	 	 	No
	TSI South End, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269795	 	 	No
	TSI South Park Slope, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269064	 	 	No
	TSI South Station, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269797	 	 	No
	TSI Springfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928570	 	 	No
	TSI Stamford Downtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269799	 	 	No
	TSI Stamford Post, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269803	 	 	No
	TSI Stamford Rinks, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269807	 	 	No
	TSI Staten Island, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269070	 	 	No
	TSI Sterling, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2978316	 	 	No
	TSI Sunnyside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4324681	 	 	No
	TSI Syosset, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269074	 	 	No
	TSI University Management, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269811	 	 	No
	TSI Varick Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269076	 	 	No
	TSI Wall Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269078	 	 	No
	TSI Waltham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3584187	 	 	No
	TSI Washington, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	 	2195425	 	 	No
	TSI Water Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269087	 	 	No
	TSI Watertown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269336	 	 	No
	TSI Wayland, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4554568	 	 	No
	TSI Wellesley, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269148	 	 	No

 

 

ANNEX A

Page 6

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pledgor’s	 	 
	 	 	 	 	 	 	 	 	Organization	 	 
	 	 	 	 	Registered	 	 	 	Identification	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Number	 	Transmitting
	 	 	(or, if the Pledgor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Pledgor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Wellington Circle, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4160262	 	 	No
	TSI West 14, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269093	 	 	No
	TSI West 16, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269096	 	 	No
	TSI West 23, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269098	 	 	No
	TSI West 38, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269038	 	 	No
	TSI West 41, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269045	 	 	No
	TSI West 44, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269054	 	 	No
	TSI West 48, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269067	 	 	No
	TSI West 52, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269073	 	 	No
	TSI West 73, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269077	 	 	No
	TSI West 76, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269080	 	 	No
	TSI West 80, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269085	 	 	No
	TSI West 94, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269086	 	 	No
	TSI West 115th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269131	 	 	No
	TSI West 125, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269090	 	 	No
	TSI West 145th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4239620	 	 	No
	TSI West Caldwell, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	2928566	 	 	No
	TSI West Hartford, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4411640	 	 	No
	TSI West Newton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269593	 	 	No
	TSI West Nyack, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269089	 	 	No
	TSI West Springfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3131927	 	 	No
	TSI Westborough, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4311117	 	 	No
	TSI Westport, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269809	 	 	No
	TSI Westwood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	3478988	 	 	No
	TSI Weymouth, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269814	 	 	No
	TSI White Plains City Center, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269095	 	 	No
	TSI White Plains, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269100	 	 	No
	TSI Whitestone, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269102	 	 	No
	TSI Woburn, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4411649	 	 	No
	TSI Woodmere, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	 	4269106	 	 	No

 

 

ANNEX B

to

PLEDGE AGREEMENT

SCHEDULE OF SUBSIDIARIES

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	Town Sports International, LLC

	 	Town Sports International Holdings, Inc.
	 	New York
	TSI 217 Broadway, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Alexandria West, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Allston, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Arthro-Fitness Services, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Astoria, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Battery Park, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Bay Ridge 86th Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Bayridge, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Bensonhurst, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Boylston, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Broadway, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Brooklyn Belt, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Brunswick, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Bulfinch, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Carmel, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Cash Management, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Central Square, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Cobble Hill, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Commack, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Court Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Croton, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Danbury, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Deer Park, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Dobbs Ferry, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Downtown Crossing, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 23, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 31, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 34, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 36, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 41, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 48, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 51, LLC

	 	Town Sports International, LLC
	 	Delaware

 

 

ANNEX B

Page 2

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	TSI East 59, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 76, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 86, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East 91, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East Brunswick, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI East Meadow, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Fenway, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI First Avenue, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Forest Hills, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Garden City, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Garnerville, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Glendale, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Grand Central, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Great Neck, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Greenwich, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Hartsdale, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Hawthorne, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Herald, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Hicksville, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (CIP), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (DC), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (MA), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (MD), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (NJ), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (PA), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Holdings (VA), LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Huntington, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Insurance, Inc.

	 	Town Sports International, LLC
	 	New York
	TSI International, Inc.

	 	Town Sports International, LLC
	 	Delaware
	TSI Irving Place, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Jamaica Estates, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Larchmont, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Lincoln, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Long Beach, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Mamaroneck, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Mercer Street, LLC

	 	Town Sports International, LLC
	 	Delaware

 

 

ANNEX B

Page 3

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	TSI Midwood, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Morris Park, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Murray Hill, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Nanuet, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Natick, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI New Rochelle, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Newbury Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Norwalk, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Oceanside, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Port Jefferson, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Providence Downtown, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Providence Eastside, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Reade Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Rego Park, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Scarsdale, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Seaport, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Sheridan, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Smithtown, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Soho, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Somers, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI South Park Slope, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Stamford Downtown, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Stamford Post, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Stamford Rinks, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Staten Island, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Sunnyside, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Syosset, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Varick Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Wall Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Water Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 14, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 16, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 23, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 38, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 41, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 44, LLC

	 	Town Sports International, LLC
	 	Delaware

 

 

ANNEX B

Page 4

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	TSI West 48, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 52, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 73, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 76, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 80, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 94, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 115th Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 125, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West 145th Street, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West Hartford, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West Newton, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI West Nyack, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Westborough, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Westport, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Weymouth, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI White Plains City Center, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI White Plains, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Whitestone, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Woodmere, LLC

	 	Town Sports International, LLC
	 	Delaware
	TSI Princeton, LLC

	 	TSI Brunswick, LLC
	 	Delaware
	TSI Chevy Chase, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Columbia Heights, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Connecticut Avenue, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Dupont Circle, Inc.

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Dupont II, Inc.

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI F Street, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Gallery Place, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Georgetown, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Glover, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI K Street, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI M Street, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI University Management, LLC

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Washington, Inc.

	 	TSI Holdings (DC), LLC
	 	Delaware
	TSI Andover, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Davis Square, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Dedham, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware

 

 

ANNEX B

Page 5

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	TSI Framingham, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Franklin (MA), LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Lexington (MA), LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Lynnfield, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Newton, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI South End, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI South Station, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Waltham, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Watertown, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Wayland, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Wellesley, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Wellington Circle, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Woburn, LLC

	 	TSI Holdings (MA), LLC
	 	Delaware
	TSI Bethesda, LLC

	 	TSI Holdings (MD), LLC
	 	Delaware
	TSI Germantown, LLC

	 	TSI Holdings (MD), LLC
	 	Delaware
	TSI North Bethesda, LLC

	 	TSI Holdings (MD), LLC
	 	Delaware
	TSI Silver Spring, LLC

	 	TSI Holdings (MD), LLC
	 	Delaware
	TSI South Bethesda, LLC

	 	TSI Holdings (MD), LLC
	 	Delaware
	TSI Bayonne, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Butler, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Cherry Hill, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Clifton, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Colonia, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Englewood, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Fort Lee, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Franklin Park, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Freehold, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Hoboken, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Hoboken North, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Jersey City, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Livingston, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Mahwah, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Marlboro, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Matawan, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Montclair, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Newark, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware

 

 

ANNEX B

Page 6

	 	 	 	 	 
	 	 	 	 	Jurisdiction of
	Entity	 	Ownership	 	Organization
	TSI No Sweat, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Old Bridge, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Parsippany, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Plainsboro, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Princeton North, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Ramsey, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Ridgewood, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Somerset, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Springfield, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI West Caldwell, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Westwood, LLC

	 	TSI Holdings (NJ), LLC
	 	Delaware
	TSI Ardmore, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Highpoint, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Market Street, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Radnor, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Rodin Place, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Society Hill, LLC

	 	TSI Holdings (PA), LLC
	 	Delaware
	TSI Alexandria, LLC

	 	TSI Holdings (VA), LLC
	 	Delaware
	TSI Clarendon, LLC

	 	TSI Holdings (VA), LLC
	 	Delaware
	TSI Fairfax, LLC

	 	TSI Holdings (VA), LLC
	 	Delaware
	TSI Sterling, LLC

	 	TSI Holdings (VA), LLC
	 	Delaware
	TSI West Springfield, LLC

	 	TSI Holdings (VA), LLC
	 	Delaware
	Town Sports AG

	 	TSI International, Inc.
	 	Switzerland

 

 

ANNEX C

to

PLEDGE AGREEMENT

SCHEDULE OF STOCK

	1.	 	Town Sports International, LLC

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Section 3.2(a)
	 	 	Type of	 	Number of	 	Certificate	 	Percentage	 	of Pledge
	Name of Issuing Corporation	 	Shares	 	Shares	 	No.	 	Owned	 	Agreement
	TSI Insurance, Inc.
	 	Common	 	 	100,000	 	 	 	2	 	 	 	100	%	 	 	3.2	(a)(i)
	TSI International, Inc.
	 	Common	 	 	100	 	 	 	2	 	 	 	100	%	 	 	3.2	(a)(i)

	2.	 	TSI Holdings (DC), LLC

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Section 3.2(a)
	 	 	Type of	 	Number of	 	Certificate	 	Percentage	 	of Pledge
	Name of Issuing Corporation	 	Shares	 	Shares	 	No.	 	Owned	 	Agreement
	TSI Dupont Circle, Inc.
	 	Common	 	 	100	 	 	 	3	 	 	 	100	%	 	 	3.2	(a)(i)
	TSI Dupont II, Inc.
	 	Common	 	 	100	 	 	 	2	 	 	 	100	%	 	 	3.2	(a)(i)
	TSI Washington, Inc.
	 	Common	 	 	100	 	 	 	3	 	 	 	100	%	 	 	3.2	(a)(i)

	3.	 	TSI International, Inc.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Section 3.2(a)
	 	 	Type of	 	Number of	 	Certificate	 	Percentage	 	of Pledge
	Name of Issuing Corporation	 	Shares	 	Shares	 	No.	 	Owned	 	Agreement
	Town Sports AG
	 	Common	 	 	1298	 	 	 	7	 	 	 	65	%	 	 	3.2	(a)(i)

 

 

ANNEX D

to

PLEDGE AGREEMENT

SCHEDULE OF NOTES

None.

 

 

ANNEX E

to

PLEDGE AGREEMENT

SCHEDULE OF LIMITED LIABILITY COMPANY INTERESTS

	1.	 	Town Sports International Holdings, Inc.

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	Town
 Sports International, LLC

	 	Limited Liability Company
	 	100%
	 	3.2(a)(ii)

	2.	 	Town Sports International, LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Alexandria West, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Arthro-Fitness Services, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Astoria, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Battery Park, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Bay Ridge 86th Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Bayridge, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Bensonhurst, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Broadway, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI 217 Broadway, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Brooklyn Belt, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Carmel, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Cash Management, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Cobble Hill, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Commack, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Court Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Croton, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Deer Park, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Dobbs Ferry, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East Brunswick, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East Meadow, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 23, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 31, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 2

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI East 34, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 36, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 41, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 48, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 51, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 59, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 76, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 86, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI East 91, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI First Avenue, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Forest Hills, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Garden City, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Garnerville, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Grand Central, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Great Neck, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Glendale, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Hartsdale, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Hawthorne, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Herald, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Hicksville, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Huntington, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Irving Place, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Jamaica Estates, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Larchmont, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Lincoln, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Long Beach, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Mamaroneck, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Mercer Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Midwood, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Morris Park, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Murray Hill, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Nanuet, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI New Rochelle, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Oceanside, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Port Jefferson, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 3

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Providence Downtown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Providence Eastside, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Reade Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Rego Park, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Scarsdale, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Seaport, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Sheridan, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Smithtown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Soho, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Somers, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI South Park Slope, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Staten Island, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Sunnyside, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Syosset, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Varick Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Wall Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Water Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 14, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 16, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 23, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 38, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 41, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 44, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 48, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 52, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 73, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 76, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 80, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 94, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 115th Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 125, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West 145th Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West Nyack, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Westborough, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI White Plains, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 4

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI White Plains City Center, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Whitestone, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Woodmere, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Allston, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Boylston, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Bulfinch, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Central Square, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Downtown Crossing, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Fenway, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Natick, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Newbury Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West Newton, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Weymouth, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Danbury, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Greenwich, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Norwalk, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Stamford Downtown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Stamford Post, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Stamford Rinks, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West Hartford, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Westport, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (DC), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (MA), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (MD), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (NJ), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Brunswick, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (CIP), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (PA), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Holdings (VA), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 5

	3.	 	TSI Holdings (MD), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Bethesda, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Germantown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI North Bethesda, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Silver Spring, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI South Bethesda, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	4.	 	TSI Holdings (VA), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Alexandria, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Clarendon, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Fairfax, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West Springfield, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Sterling, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	5.	 	TSI Holdings (PA), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Ardmore, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Highpoint, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Market Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Radnor, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Rodin Place, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Society Hill, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	6.	 	TSI Holdings (NJ), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of Section
	Name of Issuing Limited	 	 	 	Percentage	 	3.2(a) of Pledge
	Liability Company	 	Type of Interest	 	Owned	 	Agreement
	TSI Bayonne, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Butler, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Cherry Hill, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Clifton, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Colonia, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Englewood, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 6

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of Section
	Name of Issuing Limited	 	 	 	Percentage	 	3.2(a) of Pledge
	Liability Company	 	Type of Interest	 	Owned	 	Agreement
	TSI Fort Lee, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Franklin Park, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Freehold, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Hoboken, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Hoboken North, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Jersey City, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Livingston, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Mahwah, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Marlboro, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Matawan, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Montclair, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Newark, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI No Sweat, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Old Bridge, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Parsippany, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Plainsboro, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Princeton North LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Ramsey, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Ridgewood, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Somerset, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Springfield, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI West Caldwell, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Westwood, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	7.	 	TSI Holdings (MA), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of Section
	Name of Issuing Limited	 	 	 	Percentage	 	3.2(a) of Pledge
	Liability Company	 	Type of Interest	 	Owned	 	Agreement
	TSI Andover, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Davis Square, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Dedham, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Framingham, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Franklin (MA), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Lexington (MA), LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Lynnfield, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Newton, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI South End, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI South Station, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Waltham, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Watertown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Wayland, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX E

Page 7

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of Section
	Name of Issuing Limited	 	 	 	Percentage	 	3.2(a) of Pledge
	Liability Company	 	Type of Interest	 	Owned	 	Agreement
	TSI Wellesley, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Wellington Circle, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Woburn, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	8.	 	TSI Brunswick, LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited	 	 	 	Percentage	 	Section 3.2(a) of
	Liability Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Princeton, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

	9.	 	TSI Holdings (DC), LLC

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	Name of Issuing Limited Liability	 	 	 	Percentage	 	Section 3.2(a) of
	Company	 	Type of Interest	 	Owned	 	Pledge Agreement
	TSI Chevy Chase, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Columbia Heights, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Connecticut Avenue, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI F Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Gallery Place, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Georgetown, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI Glover, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI K Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI M Street, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)
	TSI University Management, LLC
	 	Limited Liability Company	 	 	100	%	 	3.2(a)(ii)

 

 

ANNEX F

to

PLEDGE AGREEMENT

SCHEDULE OF PARTNERSHIP INTERESTS

	1.	 	TSI Dupont, Inc.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	Section 3.2(a)
	 	 	 	 	Percentage	 	of Pledge
	Name of Issuing Partnership	 	Type of Interest	 	Owned1	 	Agreement
	Kalorama Sports Management Associates
	 	Partnership Interest	 	 	45	%	 	3.2(a)(ii)

	2.	 	TSI Washington, Inc.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Sub-clause of
	 	 	 	 	 	 	 	 	Section 3.2(a)
	 	 	 	 	 	 	 	 	of Pledge
	Name of Issuing Partnership	 	Type of Interest	 	Percentage Owned	 	Agreement
	Capitol Hill Squash Club Associates
	 	Limited Partnership Interest	 	 	20	%	 	3.2(a)(ii)

 

			
	1	 	Percentage is reflective of the estimated profit sharing percentage related to these Limited Partnership Investments.

 

 

ANNEX G

to

PLEDGE AGREEMENT

SCHEDULE OF CHIEF EXECUTIVE OFFICES

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	Town Sports International Holdings, Inc.

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	Town Sports International, LLC

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	TSI 217 Broadway, LLC

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	TSI Alexandria, LLC

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	TSI Alexandria West, LLC

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	TSI Allston, LLC

	 	5 Penn Plaza, 4th Floor
	 

	 	New York, NY 10001
	TSI Andover, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ardmore, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Arthro-Fitness Services, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Astoria, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Battery Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bay Ridge 86th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bayonne, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bayridge, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bensonhurst, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 2

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Boylston, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Broadway, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Brooklyn Belt, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Brunswick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bulfinch, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Butler, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Carmel, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cash Management, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Central Square, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cherry Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Chevy Chase, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Clarendon, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Clifton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cobble Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Colonia, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Columbia Heights, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Commack, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Connecticut Avenue, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 3

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Court Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

	TSI Croton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Danbury, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Davis Square, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dedham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Deer Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dobbs Ferry, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Downtown Crossing, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dupont Circle, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dupont II, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East Brunswick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East Meadow, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 23, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 31, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 34, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 36, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 41, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 48, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 4

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI East 51, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 59, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 76, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 86, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 91, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Englewood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI F Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fairfax, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fenway, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI First Avenue, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Forest Hills, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fort Lee, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Framingham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Franklin (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Franklin Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Freehold, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Gallery Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Garden City, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Garnersville, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 5

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Georgetown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Germantown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Glendale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Glover, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Grand Central, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Great Neck, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Greenwich, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hartsdale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hawthorne, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Herald, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hicksville, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Highpoint, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hoboken, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hoboken North, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (CIP), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (DC), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (MD), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 6

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Holdings (NJ), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (PA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (VA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Huntington, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI International, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Irving Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Jamaica Estates, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Jersey City, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI K Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Larchmont, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lexington (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lincoln, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Livingston, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Long Beach, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lynnfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI M Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mahwah, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mamaroneck, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 7

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Market Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Marlboro, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Matawan, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mercer Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Midwood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Montclair, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Morris Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Murray Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Nanuet, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Natick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI New Rochelle, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newark, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newbury Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI No Sweat, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI North Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Norwalk, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Oceanside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 8

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Old Bridge, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Parsippany, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Plainsboro, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Port Jefferson, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Princeton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Princeton North, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Providence Downtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Providence Eastside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Radnor, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ramsey, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Reade Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Rego Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ridgewood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Rodin Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Scarsdale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Seaport, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sheridan, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Silver Spring, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 9

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Smithtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Society Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Soho, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Somers, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Somerset, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South End, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Park Slope, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Station, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Springfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Downtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Post, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Rinks, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Staten Island, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sterling, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sunnyside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Syosset, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI University Management, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 10

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Varick Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wall Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Waltham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Washington, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Water Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Watertown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wayland, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wellesley, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wellington Circle, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Caldwell, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Hartford, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Newton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Nyack, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Springfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 14, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 16, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 23, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 38, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 11

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI West 41, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 44, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 48, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 52, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 73, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 76, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 80, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 94, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 115th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 125, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 145th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westborough, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westport, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westwood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Weymouth, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI White Plains City Center, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI White Plains, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Whitestone, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX G

Page 12

	 	 	 
	Name of Pledgor	 	Address(es) of Chief Executive  Office
	TSI Woburn, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Woodmere, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX H

to

PLEDGE AGREEMENT

Form of Agreement Regarding Uncertificated Securities, Limited Liability

Company Interests and Partnership Interests

          AGREEMENT (as amended, modified, restated and/or supplemented from time to time, this
“Agreement”), dated as of ___________, among the undersigned pledgor (the
“Pledgor”), Deutsche Bank Trust Company Americas, not in its individual capacity but solely
as Collateral Agent (the “Pledgee”), and __________, as the issuer of the [Uncertificated
Securities] [Limited Liability Company Interests] [Partnership Interests] (defined below) (the
“Issuer”).

W I T N E S S E T H :

          WHEREAS, the Pledgor, certain of its affiliates and the Pledgee have entered into a Pledge
Agreement, dated as of May 11, 2011 (as amended, modified, restated and/or supplemented from time
to time, the “Pledge Agreement”), under which, among other things, in order to secure the
payment of the Obligations (as defined in the Pledge Agreement), the Pledgor has or will pledge to
the Pledgee for the benefit of the Secured Creditors (as defined in the Pledge Agreement), and
grant a security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all
of the right, title and interest of the Pledgor in and to any and [all “uncertificated securities”
(as defined in Section 8-102(a)(18) of the Uniform Commercial Code, as adopted in the State of New
York) (“Uncertificated Securities”)] [Partnership Interests (as defined in the Pledge
Agreement)] [Limited Liability Company Interests (as defined in the Pledge Agreement)] issued from
time to time by the Issuer, whether now existing or hereafter from time to time acquired by the
Pledgor (with all of such [Uncertificated Securities] [Partnership Interests] [Limited Liability
Company Interests] being herein collectively called the “Issuer Pledged Interests”); and

          WHEREAS, the Pledgor desires the Issuer to enter into this Agreement in order to protect and
perfect the security interest of the Pledgee under the Pledge Agreement in the Issuer Pledged
Interests, to vest in the Pledgee control of the Issuer Pledged Interests and to provide for the
rights of the parties under this Agreement;

          NOW THEREFORE, in consideration of the premises and the mutual promises and agreements
contained herein, and for other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

          1. The Pledgor hereby irrevocably authorizes and directs the Issuer, and the Issuer hereby
agrees, to comply with any and all instructions and orders originated by the Pledgee (and its
permitted successors and assigns) regarding any and all of the Issuer Pledged Interests without the
further consent by the registered owner (including the Pledgor), and, after receiving a notice from
the Pledgee stating that an “Event of Default” has occurred and is

 

 

Annex H

Page 2

continuing, not to comply with any instructions or orders regarding any or all of the Issuer
Pledged Interests originated by any person or entity other than the Pledgee (and its permitted
successors and assigns) or a court of competent jurisdiction.

          2. The Issuer hereby certifies that (i) no notice of any security interest, lien or other
encumbrance or claim affecting the Issuer Pledged Interests (other than the security interest of
the Pledgee) has been received by it, and (ii) the security interest of the Pledgee in the Issuer
Pledged Interests has been registered in the books and records of the Issuer.

          3. The Issuer hereby represents and warrants that (i) the pledge by the Pledgor of, and the
granting by the Pledgor of a security interest in, the Issuer Pledged Interests to the Pledgee, for
the benefit of the Secured Creditors, does not violate the charter, by-laws, partnership agreement,
membership agreement or any other agreement governing the Issuer or the Issuer Pledged Interests,
and (ii) the Issuer Pledged Interests fully paid and nonassessable.

          4. All notices, statements of accounts, reports, prospectuses, financial statements and other
communications to be sent to the Pledgor by the Issuer in respect of the Issuer will also be sent
to the Pledgee at the following address:

60 Wall Street

New York, New York 10005

Attention: Carin Keegan

Telephone No.: (212) 250-6083

Telecopier No.: (212) 797-5690

          5. Until the Pledgee shall have delivered written notice to the Issuer that all of the
Obligations have been paid in full (other than contingent indemnification obligations which are not
then due and payable) and this Agreement is terminated, the Issuer will, upon receiving notice from
the Pledgee stating that an “Event of Default” has occurred and is continuing, send any and all
redemptions, distributions, interest or other payments in respect of the Issuer Pledged Interests
from the Issuer for the account of the Pledgor only by wire transfers to the following address:

_______________________

_______________________

_______________________

ABA No.:_________________________

Account in the Name of:_____________

Account No.:______________________

          6. Except as expressly provided otherwise in Sections 4 and 5 above, all notices,
instructions, orders and communications hereunder shall be sent or delivered by mail, telegraph,
telex, telecopy, cable or overnight courier service and all such notices and communications shall,
when mailed, telegraphed, telexed, telecopied, or cabled or sent by overnight courier, be effective
when deposited in the mails, delivered to the telegraph company, cable company or overnight
courier, as the case may be, or sent by telex or telecopier, except that notices and communications
to the Pledgee, the Pledgor or the Issuer shall not be effective until received by

 

 

Annex H

Page 3

the Pledgee, the Pledgor or the Issuer, as the case may be. All notices and other
communications shall be in writing and addressed as follows:

	 	(a)	 	if to the Pledgor, at:
	 
	 	 	 	__________________

__________________

__________________

__________________

Attention: _________

Telephone No.:

	 
	 	 	 	Telecopier No.:
	 
	 	(b)	 	if to the Pledgee, at:
	 
	 	 	 	60 Wall Street

New York, New York 10005

Attention: Carin Keegan

Telephone No.: (212) 250-6083

Telecopier No.: (212) 797-5690
	 
	 	(c)	 	if to the Issuer, at:
	 
	 	 	 	________________________

________________________

________________________

or at such other address as shall have been furnished in writing by any Person described above to
the party required to give notice hereunder. As used in this Section 6, “Business Day”
means any day other than a Saturday, Sunday, or other day in which banks in New York are authorized
to remain closed.

          7. This Agreement shall be binding upon the successors and assigns of the Pledgor and the
Issuer and shall inure to the benefit of and be enforceable by the Pledgee and its successors and
assigns. This Agreement may be executed in any number of counterparts, each of which shall be an
original, but all of which shall constitute one instrument. In the event that any provision of
this Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be
severable from the other provisions of this Agreement which shall remain binding on all parties
hereto. None of the terms and conditions of this Agreement may be changed, waived, modified or
varied in the manner whatsoever except in writing signed by the Pledgee, the Issuer and the
Pledgor.

          8. This Agreement shall be governed by and construed in accordance with the laws of the State
of New York, without regard to its principles of conflict of laws.

 

 

Annex H

Page 4

          IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused this Agreement to be
executed by their duly elected officers duly authorized as of the date first above written.

	 	 	 	 	 	 	 

	 	 	[                                                            ],	 	 
	 

	 	 	 	as Pledgor	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,	 	 
	 

	 	 	 	not
in its individual capacity but solely as
Collateral Agent and Pledgee	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	
	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	

 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	[                                                            ],	 	 
	 

	 	 	 	as Issuer	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	

 

Name:
	 	 
	 

	 	 	 	Title:exv10w4

Exhibit 10.4

 

SECURITY
AGREEMENT

among

TOWN SPORTS INTERNATIONAL HOLDINGS, INC.,

TOWN SPORTS INTERNATIONAL, LLC,

CERTAIN OTHER SUBSIDIARIES OF TOWN SPORTS INTERNATIONAL HOLDINGS,

INC.

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as COLLATERAL AGENT

 

Dated as of May 11, 2011

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE I SECURITY INTERESTS
	 	 	2	 
	 
	 	 	 	 
	1.1 Grant of Security Interests
	 	 	2	 
	1.2 Power of Attorney
	 	 	4	 
	 
	 	 	 	 
	ARTICLE II GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS
	 	 	4	 
	 
	 	 	 	 
	2.1 Necessary Filings
	 	 	4	 
	2.2 No Liens
	 	 	5	 
	2.3 Other Financing Statements
	 	 	5	 
	2.4 Chief Executive Office
	 	 	5	 
	2.5 Legal Names; Type of Organization (and Whether a Registered Organization
and/or a Transmitting Utility); Jurisdiction of Organization; Organizational
Identification Numbers; Changes Thereto; etc.
	 	 	5	 
	2.6 Trade Names; Etc.
	 	 	6	 
	 
	 	 	 	 
	ARTICLE III SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS; CHATTEL PAPER
AND CERTAIN OTHER COLLATERAL
	 	 	6	 
	 
	 	 	 	 
	3.1 Maintenance of Records
	 	 	6	 
	3.2 Direction to Account Debtors; Contracting Parties; etc.
	 	 	7	 
	3.3 Collection
	 	 	7	 
	3.4 Instruments
	 	 	7	 
	3.5 Assignors Remain Liable Under Accounts
	 	 	7	 
	3.6 Assignors Remain Liable Under Contracts
	 	 	8	 
	3.7 Designated Deposit Accounts
	 	 	8	 
	3.8 Letter-of-Credit Rights
	 	 	8	 
	3.9 Commercial Tort Claims
	 	 	8	 
	3.10 Chattel Paper
	 	 	9	 
	 
	 	 	 	 
	ARTICLE IV SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES
	 	 	9	 
	 
	 	 	 	 
	4.1 Additional Representations and Warranties
	 	 	9	 
	4.2 Infringements
	 	 	9	 
	4.3 Preservation of Marks and Domain Names
	 	 	10	 
	4.4 Maintenance of Registration
	 	 	10	 
	4.5 Future Registered Marks
	 	 	10	 
	 
	 	 	 	 
	ARTICLE V SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE
SECRETS
	 	 	10	 
	 
	 	 	 	 
	5.1 Additional Representations and Warranties
	 	 	10	 

 

 

	 	 	 	 	 
	 	 	 	Page	 
	5.2 Infringements
	 	 	11	 
	5.3 Maintenance of Patents or Copyrights
	 	 	11	 
	5.4 Prosecution of Patent or Copyright Applications
	 	 	11	 
	5.5 Other Patents and Copyrights
	 	 	11	 
	 
	 	 	 	 
	ARTICLE VI PROVISIONS CONCERNING ALL COLLATERAL
	 	 	11	 
	 
	 	 	 	 
	6.1 Protection of Collateral Agent’s Security
	 	 	11	 
	6.2 Additional Information
	 	 	12	 
	6.3 Further Actions
	 	 	12	 
	6.4 Financing Statements
	 	 	12	 
	 
	 	 	 	 
	ARTICLE VII REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT
	 	 	12	 
	 
	 	 	 	 
	7.1 Remedies; Obtaining the Collateral Upon Default
	 	 	12	 
	7.2 Remedies; Disposition of the Collateral
	 	 	14	 
	7.3 Waiver of Claims
	 	 	15	 
	7.4 Application of Proceeds
	 	 	16	 
	7.5 Remedies Cumulative
	 	 	18	 
	7.6 Discontinuance of Proceedings
	 	 	18	 
	 
	 	 	 	 
	ARTICLE VIII INDEMNITY
	 	 	19	 
	 
	 	 	 	 
	8.1 Indemnity
	 	 	19	 
	8.2 Indemnity Obligations Secured by Collateral; Survival
	 	 	20	 
	 
	 	 	 	 
	ARTICLE IX DEFINITIONS
	 	 	20	 
	 
	 	 	 	 
	ARTICLE X MISCELLANEOUS
	 	 	27	 
	 
	 	 	 	 
	10.1 Notices
	 	 	27	 
	10.2 Waiver; Amendment
	 	 	27	 
	10.3 Obligations Absolute
	 	 	28	 
	10.4 Successors and Assigns
	 	 	28	 
	10.5 Headings Descriptive
	 	 	29	 
	10.6 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	 	 	29	 
	10.7 Assignor’s Duties
	 	 	30	 
	10.8 Termination; Release
	 	 	30	 
	10.9 Counterparts
	 	 	31	 
	10.10 Severability
	 	 	31	 
	10.11 The Collateral Agent and the other Secured Creditors
	 	 	31	 
	10.12 Additional Assignors
	 	 	31	 

	 	 	 

	ANNEX A

	 	Schedule of Chief Executive Offices Address(es) of Chief Executive Office
	ANNEX B 

ANNEX C

	 	Schedule of Legal Names, Type of Organization (and Whether a Registered Organization and/or a
Transmitting Utility), Jurisdiction of Organization and Organizational Identification Numbers

Schedule of Trade and Fictitious Names

 

 

	 	 	 

	ANNEX D

	 	Schedule of Commercial Tort Claims
	ANNEX E

	 	Schedule of Marks and Applications; Internet Domain Name Registrations
	ANNEX F

	 	Schedule of Patents
	ANNEX G

	 	Schedule of Copyrights
	ANNEX H

	 	Grant of Security Interest in United States Trademarks
	ANNEX I

	 	Grant of Security Interest in United States Patents
	ANNEX J

	 	Grant of Security Interest in United States Copyrights

[Remainder of this page intentionally left blank]

 

 

SECURITY AGREEMENT

          SECURITY AGREEMENT, dated as of May 11, 2011, made by each of the undersigned assignors (each,
an “Assignor” and, together with any other entity that becomes an assignor hereunder
pursuant to Section 10.12 hereof, the “Assignors”) in favor of Deutsche Bank Trust
Company Americas, as collateral agent (together with any successor collateral agent, the
“Collateral Agent”), for the benefit of the Secured Creditors (as defined below). Certain
capitalized terms as used herein are defined in Article IX hereof. Except as otherwise
defined herein, all other capitalized terms used herein and defined in the Credit Agreement (as
defined below) shall be used herein as therein defined.

W I T N E S S E T H:

          WHEREAS, Town Sports International Holdings, LLC (“Holdings”), Town Sports
International, LLC (the “Borrower”), the lenders from time to time party thereto (the
“Lenders”) and Deutsche Bank Trust Company Americas, as administrative agent (together with
any successor administrative agent, the “Administrative Agent”), have entered into a Credit
Agreement, dated as of May 11, 2011 (as amended, modified, restated, extended, restructured and/or
supplemented from time to time, together with any agreement refinancing in full the Indebtedness
under such agreement or successor agreements to the extent such agreement provides that it is to be
the “Credit Agreement” hereunder, the “Credit Agreement”), providing for the making of
Loans to, and the issuance of, and participation in, Letters of Credit for the account of, the
Borrower, all as contemplated therein (the Lenders, each Issuing Lender, the Administrative Agent
and the Collateral Agent are herein called the “Lender Creditors”);

          WHEREAS, the Borrower and/or one or more of its Subsidiaries may at any time and from time to
time enter into one or more Interest Rate Protection Agreements and/or Other Hedging Agreements
with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the
respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason,
together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the
“Other Creditors” and, together with the Lender Creditors, the “Secured
Creditors”);

          WHEREAS, pursuant to the Credit Agreement Party Guaranty, each Credit Agreement Party has
guaranteed to the Guaranteed Creditors the payment when due of all Guaranteed Obligations as
described (and defined) therein;

          WHEREAS, pursuant to the Subsidiaries Guaranty, each Assignor (other than Holdings and the
Borrower) has jointly and severally guaranteed the payment and performance when due of all
Guaranteed Obligations as described (and defined) therein;

          WHEREAS, it is a condition precedent to the making of Loans to the Borrower, and the issuance
of, and participation in, Letters of Credit for the account of the Borrower under the Credit
Agreement and to the Other Creditors entering into Interest Rate Protection Agreements and Other
Hedging Agreements that each Assignor shall have executed and delivered to the Collateral Agent
this Agreement; and

 

 

          WHEREAS, each Assignor will obtain benefits from the incurrence of Loans by the Borrower and
the issuance of, and participation in, Letters of Credit for the account of the Borrower under the
Credit Agreement and the entering into by the Borrower and/or one or more of its Subsidiaries of
Interest Rate Protection Agreements or Other Hedging Agreements and, accordingly, desires to
execute this Agreement in order to satisfy the condition described in the preceding recital and to
induce the Lenders to make Loans to the Borrower and issue, and/or participate in, Letters of
Credit for the account of the Borrower and the Other Creditors to enter into Interest Rate
Protection Agreements or Other Hedging Agreements with the Borrower and/or one or more of its
Subsidiaries;

          NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each
Assignor, the receipt and sufficiency of which are hereby acknowledged, each Assignor hereby makes
the following representations and warranties to the Collateral Agent for the benefit of the Secured
Creditors and hereby covenants and agrees with the Collateral Agent for the benefit of the Secured
Creditors as follows:

ARTICLE I

SECURITY INTERESTS

          1.1 Grant of Security Interests. (a) As security for the prompt and complete payment
and performance when due of all of its Obligations, each Assignor does hereby assign and transfer
unto the Collateral Agent, and does hereby pledge and grant to the Collateral Agent, in each case
for the benefit of the Secured Creditors, a continuing security interest in all of the right, title
and interest of such Assignor in, to and under all of the following personal property and fixtures
(and all rights therein) of such Assignor, or in which or to which such Assignor has any rights, in
each case whether now existing or hereafter from time to time acquired:

	 	(i)	 	each and every Account;
	 
	 	(ii)	 	all cash;
	 
	 	(iii)	 	the Cash Collateral Account and all monies, securities,
Instruments and other investments deposited or required to be deposited in the
Cash Collateral Account;
	 
	 	(iv)	 	all Chattel Paper (including, without limitation, all Tangible
Chattel Paper and all Electronic Chattel Paper);
	 
	 	(v)	 	all Commercial Tort Claims (including all Commercial Tort
Claims described in Annex D hereto);
	 
	 	(vi)	 	all Domain Names, Trade Secrets, and other proprietary
information, including financial data, personal information, customer lists,
supplier lists, business plans, and data collections;
	 
	 	(vii)	 	all Contracts, together with all Contract Rights arising thereunder;

2

 

	 	(viii)	 	all Copyrights;
	 
	 	(ix)	 	all Equipment;
	 
	 	(x)	 	all Deposit Accounts and all other demand, deposit, time,
savings, cash management, passbook and similar accounts maintained by such
Assignor with any Person and all monies, securities, Instruments and other
investments deposited or required to be deposited in any of the foregoing;
	 
	 	(xi)	 	all Documents;
	 
	 	(xii)	 	all General Intangibles;
	 
	 	(xiii)	 	all Goods;
	 
	 	(xiv)	 	all Instruments;
	 
	 	(xv)	 	all Inventory;
	 
	 	(xvi)	 	all Investment Property and Securities Accounts;
	 
	 	(xvii)	 	all Letter-of-Credit Rights (whether or not the respective letter of credit
is evidenced by a writing);
	 
	 	(xviii)	 	all Marks, together with the registrations and right to all renewals
thereof, the goodwill of the business of such Assignor symbolized by the Marks
and all causes of action arising prior to or after the date hereof for
infringement of any of the Marks or unfair competition regarding the same;
	 
	 	(xix)	 	all Patents, together with all causes of action arising prior
to or after the date hereof for infringement of any of the Patents or unfair
competition regarding the same;
	 
	 	(xx)	 	all Permits;
	 
	 	(xxi)	 	all Software and all recorded data of any kind or nature, and
any media on which the foregoing is recorded;
	 
	 	(xxii)	 	all Supporting Obligations; and
	 
	 	(xxiii)	 	all Proceeds and products of any and all of the foregoing (all of the above,
including this clause (xxiii), the “Collateral”);

provided that no Assignor shall be required to grant a security interest hereunder in (and
the term “Collateral” shall not include) any Excluded Collateral (so long as same remains
“Excluded Collateral” in accordance with the definition thereof).

3

 

          (b) The security interest of the Collateral Agent under this Agreement extends to all
Collateral which any Assignor may acquire, or with respect to which any Assignor may obtain rights,
at any time during the term of this Agreement.

          (c) Notwithstanding anything to the contrary contained in this Agreement, the Assignors shall
not be required to take any actions to perfect the Collateral Agent’s security interest hereunder
in motor vehicles, Letter-of-Credit Rights, cash, Deposit Accounts and Securities Accounts, in each
case except to the extent that a security interest in such types of Collateral can be perfected by
(i) the filings of a UCC-1 (or similar) financing statement under the applicable UCC, (ii) in the
case of Designated Deposit Accounts, by the execution and delivery of a Deposit Account Control
Agreement in accordance with Section 9.18 of the Credit Agreement and (iii) in the case of Letter
of Credit Rights, by taking the respective actions described in Section 3.8 hereof (and the
representations, warranties and covenants contained in this Agreement with respect to a perfected
security interest in such Collateral shall be qualified to the extent provided in this Section
1.1(c)).

          (d) Notwithstanding anything to the contrary contained in this Agreement, no security interest
is assigned, transferred, pledged or granted in any “intent-to-use” application for registration of
a Mark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing with
respect thereto of a verified “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an
“Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act, to the extent that, and
during the period in which, the assignment, transfer, pledge or grant of a security interest in
such intent-to-use application would impair the validity or enforceability of any registration that
issues from that intent-to-use application under applicable federal law.

          1.2 Power of Attorney. Each Assignor hereby constitutes and appoints the Collateral
Agent its true and lawful attorney, irrevocably, with full power after the occurrence of and during
the continuance of an Event of Default (in the name of such Assignor or otherwise) to act, require,
demand, receive, compound and give acquittance for any and all moneys and claims for moneys due or
to become due to such Assignor under or arising out of the Collateral, to endorse any checks or
other instruments or orders in connection therewith and to file any claims or take any action or
institute any proceedings which the Collateral Agent may deem to be necessary or advisable to
protect the interests of the Secured Creditors, which appointment as attorney is coupled with an
interest.

ARTICLE II

GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS

Each Assignor represents, warrants and covenants, which representations, warranties and covenants
shall survive execution and delivery of this Agreement, as follows:

          2.1 Necessary Filings. (i) All filings, registrations, recordings and other actions
necessary or appropriate to create, preserve and perfect the security interest granted by such
Assignor to the Collateral Agent hereby in respect of the Collateral have been accomplished (or
will be accomplished within the time periods set forth in the first sentence of Section 8.11(a) of
the Credit Agreement) and (ii) the security interest granted to the Collateral Agent pursuant to

4

 

this Agreement in and to the Collateral creates (or upon such filings will create) a valid
and, together with all such filings, registrations, recordings and other actions, a perfected
security interest therein prior to the rights of all other Persons therein and subject to no other
Liens (other than Permitted Liens) and is entitled to all the rights, priorities and benefits
afforded by the UCC or other relevant law as enacted in any relevant jurisdiction to perfected
security interests, in each case to the extent that the Collateral consists of the type of property
in which a security interest may be perfected and is required to be perfected hereunder (x) by
possession or control (within the meaning of the UCC as in effect on the date hereof in the State
of New York), (y) by filing a financing statement under the UCC as enacted in any relevant
jurisdiction or (z) by a filing of a Grant of Security Interest in the respective form attached
hereto in the United States Patent and Trademark Office or in the United States Copyright Office.

          2.2 No Liens. Such Assignor is, and as to all Collateral acquired by it from time to
time after the date hereof such Assignor will be, the owner or holder of all Collateral free from
any Lien (other than Permitted Liens), and such Assignor shall defend the Collateral against all
claims and demands of all Persons at any time claiming the same or any interest therein adverse to
the Collateral Agent.

          2.3 Other Financing Statements. As of the date hereof, there is no financing
statement (or similar statement or instrument of registration under the law of any jurisdiction)
covering or purporting to cover any interest of any kind in the Collateral (other than financing
statements filed in respect of Permitted Liens), and so long as the Termination Date has not
occurred, such Assignor will not execute or authorize to be filed in any public office any
financing statement (or similar statement or instrument of registration under the law of any
jurisdiction) or statements relating to the Collateral, except financing statements filed or to be
filed in respect of and covering the security interests granted hereby by such Assignor or in
connection with Permitted Liens.

          2.4 Chief Executive Office. The chief executive office of such Assignor is, on the
date of this Agreement, located at the address indicated on Annex A hereto for such
Assignor. During the period of the four calendar months preceding the date of this Agreement, the
chief executive office of such Assignor has not been located at any address other than that
indicated on Annex A in accordance with the immediately preceding sentence, in each case
unless each such other address is also indicated on Annex A hereto for such Assignor.

          2.5 Legal Names; Type of Organization (and Whether a Registered Organization and/or a
Transmitting Utility); Jurisdiction of Organization; Organizational Identification Numbers; Changes
Thereto; etc. As of the date hereof, the exact legal name of each Assignor, the type of
organization of such Assignor, whether or not such Assignor is a Registered Organization, the
jurisdiction of organization of such Assignor, the organizational identification number (if any) of
such Assignor, and whether or not such Assignor is a Transmitting Utility, is listed on Annex
B hereto for such Assignor. Such Assignor shall not change its legal name, its type of
organization, its status as a Registered Organization (in the case of a Registered Organization),
its status as a Transmitting Utility or as a Person which is not a Transmitting Utility, as the
case may be, its jurisdiction of organization, or its organizational identification number (if any)
from that listed on Annex B hereto, except that any such changes shall be permitted (so
long as not in violation of the applicable requirements of the Credit Documents and

5

 

so long as same do not involve (x) a Registered Organization ceasing to constitute same or (y)
such Assignor changing its jurisdiction of organization from the United States or a State thereof
to a jurisdiction of organization outside the United States or a State thereof) if (i) it shall
have given to the Collateral Agent not more than 10 days’ written notice (or such shorter period as
shall be acceptable to the Collateral Agent) after each change to the information listed on
Annex B (as adjusted for any subsequent changes thereto previously made in accordance with
this sentence), together with a supplement to Annex B which shall correct all information
contained therein for such Assignor, and (ii) in connection with such respective change or changes,
it shall have taken all action reasonably requested by the Collateral Agent to maintain the
security interests of the Collateral Agent in the Collateral intended to be granted hereby at all
times fully perfected and in full force and effect. In addition, to the extent that such Assignor
does not have an organizational identification number on the date hereof and later obtains one,
such Assignor shall promptly thereafter notify the Collateral Agent of such organizational
identification number and shall take all actions reasonably satisfactory to the Collateral Agent to
the extent necessary to maintain the security interest of the Collateral Agent in the Collateral
intended to be granted hereby fully perfected and in full force and effect.

          2.6 Trade Names; Etc. Such Assignor does not have nor does it operate in any
jurisdiction under, nor in the preceding five years has it had or operated in any jurisdiction
under, any trade names, fictitious names or other names except its legal name as specified in
Annex B and such other trade or fictitious names as are listed on Annex C hereto
for such Assignor. Such Assignor may assume or operate in any jurisdiction under any new trade,
fictitious or other name if (i) it shall have given to the Collateral Agent not more than 10 days’
written notice (or such shorter period as shall be acceptable to the Collateral Agent) after any
such assumption or operation, clearly describing such new name and the jurisdictions in which such
new name will be used and providing such other information in connection therewith as the
Collateral Agent may reasonably request and (ii) with respect to such new name, it shall have taken
all action reasonably requested by the Collateral Agent to maintain the security interest of the
Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected and
in full force and effect.

ARTICLE III

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS;

INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL

          3.1 Maintenance of Records. Upon the occurrence and during the continuance of an
Event of Default and at the request of the Collateral Agent, such Assignor shall, at its own cost
and expense, deliver all tangible evidence of its Accounts and Contract Rights (including, without
limitation, all documents evidencing the Accounts and all Contracts) and such books and records to
the Collateral Agent or to its representatives (copies of which evidence and books and records may
be retained by such Assignor). Upon the occurrence and during the continuance of an Event of
Default and if the Collateral Agent so directs, such Assignor shall legend, in form and manner
satisfactory to the Collateral Agent, the Accounts and the Contracts, as well as books, records and
documents (if any) of such Assignor evidencing or pertaining to such Accounts and Contracts with an
appropriate reference to the fact that such Accounts and

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Contracts have been assigned to the Collateral Agent and that the Collateral Agent has a
security interest therein.

          3.2 Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and
during the continuance of an Event of Default, if the Collateral Agent so directs any Assignor,
such Assignor agrees (x) to cause all payments on account of the Accounts and Contracts to be made
directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly
notify the obligors with respect to any Accounts and/or under any Contracts to make payments with
respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may
enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the
amount of payment thereof, in the same manner and to the same extent as such Assignor. Without
notice to or assent by any Assignor, the Collateral Agent may, upon the occurrence and during the
continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in,
the Cash Collateral Account toward the payment of the Obligations in the manner provided in
Section 7.4 of this Agreement. The reasonable costs and expenses of collection (including
reasonable attorneys’ fees), whether incurred by an Assignor or the Collateral Agent, shall be
borne by the relevant Assignor. The Collateral Agent shall deliver a copy of each notice referred
to in the preceding clause (y) to the relevant Assignor, provided that (x) the failure by
the Collateral Agent to so notify such Assignor shall not affect the effectiveness of such notice
or the other rights of the Collateral Agent created by this Section 3.2 and (y) no such
notice shall be required if an Event of Default of the type described in Section 11.05 of the
Credit Agreement has occurred and is continuing.

          3.3 Collection. Except as otherwise directed by the Collateral Agent after the
occurrence and during the continuation of an Event of Default, any Assignor may allow as
adjustments to amounts owing under its Accounts and Contracts (i) an extension or renewal of the
time or times of payment, or settlement for less than the total unpaid balance, which such Assignor
finds appropriate, and (ii) a refund or credit due as a result of returned or damaged merchandise
or improperly performed services or for other reasons which such Assignor finds appropriate. The
reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees) of
collection, whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant
Assignor.

          3.4 Instruments. If any Assignor owns or acquires any Instrument in excess of
$1,000,000 constituting Collateral (other than (x) checks and other payment instruments received
and collected in the ordinary course of business and (y) any Instrument subject to pledge pursuant
to the Pledge Agreement), such Assignor will within 10 Business Days notify the Collateral Agent
thereof, and upon request by the Collateral Agent will promptly deliver such Instrument to the
Collateral Agent appropriately endorsed to the order of the Collateral Agent as further security
hereunder.

          3.5 Assignors Remain Liable Under Accounts. Anything herein to the contrary
notwithstanding, the Assignors shall remain liable under each of the Accounts to observe and
perform all of the conditions and obligations to be observed and performed by it thereunder, all in
accordance with the terms of any agreement giving rise to such Accounts. Neither the Collateral
Agent nor any other Secured Creditor shall have any obligation or liability under any Account (or
any agreement giving rise thereto) by reason of or arising out of this Agreement or

7

 

the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to
such Account pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be
obligated in any manner to perform any of the obligations of any Assignor under or pursuant to any
Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by them or as to the sufficiency of any
performance by any party under any Account (or any agreement giving rise thereto), to present or
file any claim, to take any action to enforce any performance or to collect the payment of any
amounts which may have been assigned to them or to which they may be entitled at any time or times.

          3.6 Assignors Remain Liable Under Contracts. Anything herein to the contrary
notwithstanding, the Assignors shall remain liable under each of the Contracts to observe and
perform all of the conditions and obligations to be observed and performed by them thereunder, all
in accordance with and pursuant to the terms and provisions of each Contract. Neither the
Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any
Contract by reason of or arising out of this Agreement or the receipt by the Collateral Agent or
any other Secured Creditor of any payment relating to such Contract pursuant hereto, nor shall the
Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the
obligations of any Assignor under or pursuant to any Contract, to make any payment, to make any
inquiry as to the nature or the sufficiency of any performance by any party under any Contract, to
present or file any claim, to take any action to enforce any performance or to collect the payment
of any amounts which may have been assigned to them or to which they may be entitled at any time or
times.

          3.7 Designated Deposit Accounts. With respect to each Designated Deposit Account
maintained by such Assignor from time to time, such Assignor shall comply with the requirements of
Section 9.18 of the Credit Agreement.

          3.8 Letter-of-Credit Rights. If any Assignor is at any time a beneficiary under a
letter of credit with a stated amount of $1,000,000 or more, such Assignor shall promptly notify
the Collateral Agent thereof and, at the request of the Collateral Agent, such Assignor shall,
pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use
its commercially reasonable efforts to 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 such 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 the
proceeds of any drawing under the letter of credit are to be applied as provided in this Agreement
after the occurrence and during the continuance of an Event of Default.

          3.9 Commercial Tort Claims. All Commercial Tort Claims of, and known to, each
Assignor in existence on the date of this Agreement are described in Annex D hereto (but
only to the extent that the amount (taking the greater of the aggregate claimed damages thereunder
or the reasonably estimated value thereof) of an individual Commercial Tort Claim is $1,000,000 or
more). If any Assignor shall at any time after the date of this Agreement acquire a Commercial
Tort Claim in an amount (taking the greater of the aggregate claimed damages thereunder or the
reasonably estimated value thereof) of $1,000,000 or more, such Assignor shall promptly notify the
Collateral Agent thereof in a writing signed by such Assignor and describing

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the details thereof and shall grant to the Collateral Agent 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.

          3.10 Chattel Paper. Upon the request of the Collateral Agent made at any time or from
time to time, each Assignor shall promptly furnish to the Collateral Agent a list of all Electronic
Chattel Paper in each case in respect of goods with a value greater than $1,000,000 held or owned
by such Assignor. Furthermore, if requested by the Collateral Agent, each Assignor shall promptly
take all actions which are reasonably practicable so that the Collateral Agent has “control” of all
Electronic Chattel Paper in accordance with the requirements of Section 9-105 of the UCC. Each
Assignor will promptly (and in any event within 10 days) following any request by the Collateral
Agent, deliver an original of all of its Tangible Chattel Paper in each case in respect of goods
with a value greater than $1,000,000 to the Collateral Agent.

ARTICLE IV

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES

          4.1 Additional Representations and Warranties. Each Assignor represents and warrants
that it is the true and lawful owner of or otherwise has the right to use the registered Marks and
Domain Names listed in Annex E hereto for such Assignor and that said listed Marks and
Domain Names include all (a) United States trademarks and service marks registered in the United
States Patent and Trademark Office, (b) applications to register United States trademarks and
service marks in the United States Patent and Trademark Office, and (c) Internet domain names, in
each case of (a)-(c), that such Assignor owns in connection with its business as of the date
hereof. Each Assignor represents and warrants that it owns, is licensed to use or otherwise has
the right to use, all Marks and Domain Names that are necessary for the conduct of its business as
currently conducted. Each Assignor further warrants that it has no knowledge of any written or
other material third party claim received by it that any aspect of such Assignor’s present business
operations infringe or will infringe any trademark, service mark or trade name of any other Person
which, either individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect. Each Assignor represents and warrants that the registrations listed in Annex
E are subsisting and have not been canceled and, to such Assignor’s knowledge, are valid, and
such Assignor is not aware, except as would not have a Material Adverse Effect, of any third-party
claim that any of said registrations is invalid or unenforceable. Each Assignor hereby grants to
the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during
the continuance of an Event of Default, any document which may be required by the United States
Patent and Trademark Office or similar registrar in order to effect, in accordance with Section 7.1
hereof, an absolute assignment of all right, title and interest in each Mark and/or Domain Name,
and record the same.

          4.2 Infringements. Except as each Assignor otherwise determines in its reasonable
business judgment, each Assignor agrees to prosecute diligently in accordance with reasonable
business practices any Person infringing any Mark or Domain Name in any manner that could
reasonably be expected to have a Material Adverse Effect.

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          4.3 Preservation of Marks and Domain Names. Except as otherwise permitted by the
Credit Agreement, each Assignor agrees to use its United States federally registered Marks that are
material to such Assignor’s business in interstate commerce during the time in which this Agreement
is in effect and to take all such other actions as are reasonably necessary to preserve such Marks
as trademarks or service marks under the laws of the United States (in each case, other than as
such Assignor determines that the preservation or continued effectiveness thereof is no longer
desirable in the conduct of the business).

          4.4 Maintenance of Registration. Except as otherwise permitted by the Credit
Agreement, each Assignor shall, at its own expense, diligently process all documents reasonably
required to maintain all Mark and/or Domain Name registrations, including but not limited to
affidavits of use and applications for renewals of registration in the United States Patent and
Trademark Office for all of its material registered Marks, and shall pay all fees and disbursements
in connection therewith and shall not abandon such filing of affidavit of use or any such
application of renewal prior to the exhaustion of all administrative and judicial remedies without
prior written consent of the Collateral Agent, which consent shall not be unreasonably withheld (in
each case, other than as such Assignor determines that the preservation or continued effectiveness
thereof is no longer desirable in the conduct of the business).

          4.5 Future Registered Marks. If any Mark registration is issued hereafter to any
Assignor as a result of any application now or hereafter pending before the United States Patent
and Trademark Office, at the end of the calendar quarter in which such certificate or similar
indicia of ownership was received, such Assignor shall deliver to the Collateral Agent a copy of
such registration certificate or similar indicia of ownership, and a grant of a security interest
in such Mark, to the Collateral Agent and at the expense of such Assignor, confirming the grant of
a security interest in such Mark to the Collateral Agent hereunder, the form of such security to be
substantially in the form of Annex H hereto or in such other form as may be reasonably
satisfactory to the Collateral Agent.

ARTICLE V

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS

          5.1 Additional Representations and Warranties. Each Assignor represents and warrants
that it is the true and lawful owner of (i) all rights in (x) the Patents listed in Annex F
hereto for such Assignor and that said Patents include all the United States patents and
applications for United States patents that such Assignor owns as of the date hereof and (y) the
Copyrights listed in Annex G hereto for such Assignor and that said Copyrights constitute
all the United States copyrights registered with the United States Copyright Office and
applications to register United States copyrights that such Assignor owns as of the date hereof and
(ii) all rights in, or otherwise has the right to use, all Trade Secrets and other proprietary
information necessary to operate the business of such Assignor as currently operated. Each
Assignor further warrants that it has no knowledge of any written or other material third party
claim received by it that any aspect of such Assignor’s present business operations infringes or
will infringe any patent and/or copyright of any other Person, or that such Assignor has
misappropriated any trade secret or other proprietary information, in each case which, either
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.
Each Assignor

10

 

hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the
occurrence and during the continuance of any Event of Default, any document which may be required
by the United States Patent and Trademark Office or the United States Copyright Office in order to
effect, in accordance with Section 7.1 hereof, an absolute assignment of all right, title and
interest in each Patent or Copyright, and to record the same.

          5.2 Infringements. Except as each Assignor otherwise determines in its reasonable
business judgment, each Assignor agrees to diligently prosecute any Person infringing any Patent or
Copyright or any Person misappropriating any Trade Secret, for which such Assignor has a right of
action for misappropriation, in each case to the extent that such infringement or misappropriation,
either individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect.

          5.3 Maintenance of Patents or Copyrights. Except as otherwise permitted by the Credit
Agreement, at its own expense, each Assignor shall make timely payment of all post-issuance fees
required to maintain in force its rights under each issued Patent or registered Copyright (other
than as such Assignor determines that the preservation or continued effectiveness thereof is no
longer desirable in the conduct of the business).

          5.4 Prosecution of Patent or Copyright Applications. At its own expense, each
Assignor shall diligently prosecute all material applications for (i) United States Patents listed
in Annex H hereto and (ii) United States Copyrights listed on Annex I hereto, in
each case for such Assignor and shall not abandon any such application prior to exhaustion of all
administrative and judicial remedies (in each case, other than as such Assignor determines that the
preservation or continued effectiveness thereof is no longer desirable in the conduct of the
business).

          5.5 Other Patents and Copyrights. At the end of each calendar quarter following the
acquisition or issuance of a United States Patent, registration of a Copyright, or acquisition of a
registered Copyright, or of filing of an application for a United States Patent or Copyright, the
relevant Assignor shall deliver to the Collateral Agent a copy of said Copyright or Patent, or
certificate or registration of, or application therefor, as the case may be, with a grant of a
security interest as to such Patent or Copyright, as the case may be, to the Collateral Agent and
at the expense of such Assignor, confirming the grant of a security interest, the form of such
grant of a security interest to be substantially in the form of Annex I or J
hereto, as appropriate, or in such other form as may be reasonably satisfactory to the Collateral
Agent.

ARTICLE VI

PROVISIONS CONCERNING ALL COLLATERAL

          6.1 Protection of Collateral Agent’s Security. Except as otherwise permitted by the
Credit Documents, each Assignor will do nothing to impair the rights of the Collateral Agent in the
Collateral. Each Assignor will at all times keep its Inventory and Equipment insured in favor of
the Collateral Agent, at such Assignor’s own expense to the extent and in the manner required by
the Credit Documents. Except to the extent otherwise permitted to be retained by such Assignor or
applied by such Assignor pursuant to the terms of the Credit Documents, during the existence of an
Event of Default the Collateral Agent shall, at the time any proceeds

11

 

of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance
with Section 7.4 hereof. Each Assignor assumes all liability and responsibility in
connection with the Collateral acquired by it and the liability of such Assignor to pay the
Obligations shall in no way be affected or diminished by reason of the fact that such Collateral
may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Assignor.

          6.2 Additional Information. Each Assignor will, at its own expense, from time to time
upon the reasonable request of the Collateral Agent, promptly (and in any event within 10 Business
Days after its receipt of the respective request) furnish to the Collateral Agent such information
with respect to the Collateral (including with reasonable specificity and in summary form, the
identity of the Collateral or such components thereof as may have been reasonably requested by the
Collateral Agent, the value and location of such Collateral, etc.) as may be reasonably requested
by the Collateral Agent. Without limiting the forgoing, each Assignor agrees that it shall
promptly (and in any event within 10 Business Days after its receipt of the respective request)
furnish to the Collateral Agent such updated Annexes hereto as may from time to time be reasonably
requested by the Collateral Agent.

          6.3 Further Actions. Each Assignor will, at its own expense and upon the reasonable
request of the Collateral Agent, take such further steps relating to the Collateral, which the
Collateral Agent deems reasonably appropriate or advisable to perfect, preserve or protect its
security interest in the Collateral.

          6.4 Financing Statements. Each Assignor agrees to authorize and deliver to the
Collateral Agent such financing statements, in form reasonably acceptable to the Collateral Agent,
as the Collateral Agent may from time to time reasonably request or as are reasonably necessary or
desirable in the opinion of the Collateral Agent to establish and maintain a valid, enforceable,
perfected security interest in the Collateral as provided herein and the other rights and security
contemplated hereby. Each Assignor will pay any applicable filing fees, recordation taxes and
related expenses relating to its Collateral. Each Assignor hereby authorizes the Collateral Agent
to file any such financing statements without the signature of such Assignor where permitted by law
(and such authorization includes describing the Collateral as “all assets” of such Assignor).

ARTICLE VII

REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT

          7.1 Remedies; Obtaining the Collateral Upon Default. Each Assignor agrees that, if
any Event of Default shall have occurred and be continuing, then and in every such case, the
Collateral Agent, in addition to any rights now or hereafter existing under applicable law and
under the other provisions of this Agreement, shall have all rights as a secured creditor under any
UCC, and such additional rights and remedies to which a secured creditor is entitled under the laws
in effect in all relevant jurisdictions and may:

     (i) personally, or by agents or attorneys, immediately take possession of the
Collateral or any part thereof, from such Assignor or any other Person who then has
possession of any part thereof with or without notice or process of law, and for that

12

 

purpose may enter upon such Assignor’s premises where any of the Collateral is located
and remove the same and use in connection with such removal any and all services, supplies,
aids and other facilities of such Assignor;

     (ii) instruct the obligor or obligors on any agreement, instrument or other obligation
(including, without limitation, the Accounts and the Contracts) constituting the Collateral
to make any payment required by the terms of such agreement, instrument or other obligation
directly to the Collateral Agent and may exercise any and all remedies of such Assignor in
respect of such Collateral;

     (iii) instruct all depository banks and other depository institutions which have
entered into a Deposit Account Control Agreement with the Collateral Agent to transfer all
monies, securities and instruments held by such depositary bank or other depository
institution to the Cash Collateral Account in accordance with the terms of the respective
Deposit Account Control Agreement (including by issuing a “Notice of Exclusive Control” in
accordance with the terms thereof);

     (iv) withdraw all monies, securities and instruments in the Cash Collateral Account
and/or in any other Deposit Account maintained with the Collateral Agent or any other
Secured Creditor (or any affiliate thereof) for application to the Obligations in accordance
with Section 7.4 hereof;

     (v) sell, assign or otherwise liquidate any or all of the Collateral or any part
thereof in accordance with Section 7.2 hereof, or direct such Assignor to sell,
assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each
case, take possession of the proceeds of any such sale or liquidation;

     (vi) take possession of the Collateral or any part thereof, by directing such Assignor
in writing to deliver the same to the Collateral Agent at any reasonable place or places
designated by the Collateral Agent, in which event such Assignor shall at its own expense:

     (x) forthwith cause the same to be moved to the place or places so designated
by the Collateral Agent and there delivered to the Collateral Agent;

     (y) store and keep any Collateral so delivered to the Collateral Agent at such
place or places pending further action by the Collateral Agent as provided in
Section 7.2 hereof; and

     (z) while the Collateral shall be so stored and kept, provide such security and
maintenance services as shall be reasonably necessary to protect the same and to
preserve and maintain it in good condition;

     (vii) license or sublicense, whether on an exclusive or nonexclusive basis, any Marks,
Domain Names, Patents or Copyrights included in the Collateral for such term and on such
conditions and in such manner as the Collateral Agent shall in its sole judgment determine;

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     (viii) apply any monies constituting Collateral or proceeds thereof in accordance with
the provisions of Section 7.4;

     (ix) take any other action as specified in clauses (1) through (5), inclusive, of
Section 9-607 of the UCC;

     (x) declare the entire right, title and interest of any Assignor in and to any
Patents, Copyrights, Domain Names, and Marks included in the Collateral, in which event
such rights, title and interest shall immediately vest in the Collateral Agent for the
benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise
the power of attorney referred to in Sections 4.1 and 5.1 to execute, cause to be
acknowledged and notarized and record said absolute assignment with the applicable agency
or registrar;

     (xi) use or practice any Patents, Copyrights, Trade Secrets or other proprietary
information, Marks, and Domain Names included in the Collateral and the goodwill of any
Assignor’s business symbolized by such Marks or Domain Names and the right to carry on the
business and use the assets of such Assignor in connection with which the Marks or Domain
Names have been used; and

     (xii) direct any Assignor to refrain, in which event such Assignor shall refrain, from
using or practicing any Patents, Copyrights, Trade Secrets or other proprietary
information, Marks, and Domain Names included in the Collateral in any manner whatsoever,
directly or indirectly, and such Assignor shall execute such further documents that the
Collateral Agent may reasonably request to further confirm this and to transfer ownership
and any registrations and pending applications to the Collateral Agent for the benefit of
the Secured Creditors;

it being understood that each Assignor’s obligation so to deliver the Collateral is of the essence
of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction,
the Collateral Agent shall be entitled to a decree requiring specific performance by such Assignor
of said obligation. By accepting the benefits of this Agreement and each other Security Document,
the Secured Creditors expressly acknowledge and agree that this Agreement and each other Security
Document may be enforced only by the action of the Collateral Agent acting upon the instructions of
the Required Secured Creditors and that no other Secured Creditor shall have any right individually
to seek to enforce or to enforce this Agreement or to realize upon the security to be granted
hereby, it being understood and agreed that such rights and remedies may be exercised by the
Collateral Agent or the holders of at least a majority of the outstanding Other Obligations, as the
case may be, for the benefit of the Secured Creditors upon the terms of this Agreement and the
other Security Documents.

          7.2 Remedies; Disposition of the Collateral. If any Event of Default shall have
occurred and be continuing, then any Collateral repossessed by the Collateral Agent under or
pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by
the Collateral Agent, may be sold, assigned, leased or otherwise disposed of under one or more
contracts or as an entirety, and without the necessity of gathering at the place of sale the
property to

14

 

be sold, and in general in such manner, at such time or times, at such place or places and on
such terms as the Collateral Agent may, in compliance with any mandatory requirements of applicable
law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or
otherwise disposed of, in the condition in which the same existed when taken by the Collateral
Agent or after any overhaul or repair at the expense of the relevant Assignor which the Collateral
Agent shall determine to be commercially reasonable. Any disposition which shall be a private sale
or other private proceedings permitted by such requirements shall be made upon not less than 10
days’ prior written notice to the relevant Assignor specifying the time at which such disposition
is to be made and the intended sale price or other consideration therefor, and shall be subject,
for the 10 days after the giving of such notice, to the right of the relevant Assignor or any
nominee of such Assignor to acquire the Collateral involved at a price or for such other
consideration at least equal to the intended sale price or other consideration so specified. Any
such sale, lease or other disposition may be effected by means of a public disposition or private
disposition, effected in accordance with the applicable requirements (in each case if and to the
extent applicable) of Sections 9-610 through 9-613 of the UCC and/or such other mandatory
requirements of applicable law as may apply to the respective disposition. The Collateral Agent
may, without notice or publication, adjourn any public or private disposition or cause the same to
be adjourned from time to time by announcement at the time and place fixed for the disposition, and
such disposition may be made at any time or place to which the disposition may be so adjourned. To
the extent permitted by any such requirement of law, the Collateral Agent may bid for and become
the purchaser (and may pay all or any portion of the purchase price by crediting Obligations
against the purchase price) of the Collateral or any item thereof, offered for sale in accordance
with this Section 7.2 without accountability to the relevant Assignor. If, under
applicable law, the Collateral Agent shall be permitted to make disposition of the Collateral
within a period of time which does not permit the giving of notice to the relevant Assignor as
hereinabove specified, the Collateral Agent need give such Assignor only such notice of disposition
as shall be reasonably practicable in view of such applicable law. Each Assignor agrees to do or
cause to be done all such other acts and things as may be reasonably necessary to make such
disposition or dispositions of all or any portion of the Collateral valid and binding and in
compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or
awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign,
having jurisdiction over any such sale or sales, all at such Assignor’s expense.

          7.3 Waiver of Claims. Except as otherwise provided in this Agreement, EACH ASSIGNOR
HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN CONNECTION
WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE COLLATERAL AGENT’S DISPOSITION OF ANY OF THE
COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT
REMEDY OR REMEDIES, and each Assignor hereby further waives, to the extent permitted by law:

     (i) all damages occasioned by such taking of possession or any such disposition except
any damages which are the direct result of the Collateral Agent’s gross negligence or
willful misconduct (as determined by a court of competent jurisdiction in a final and
non-appealable decision);

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     (ii) except as otherwise expressly provided in this Agreement, all other requirements
as to the time, place and terms of sale or other requirements with respect to the
enforcement of the Collateral Agent’s rights hereunder; and

     (iii) all rights of redemption, appraisement, valuation, stay, extension or moratorium
now or hereafter in force under any applicable law in order to prevent or delay the
enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof,
and each Assignor, for itself and all who may claim under it, insofar as it or they now or
hereafter lawfully may, hereby waives the benefit of all such laws.

Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral
shall operate to divest all right, title, interest, claim and demand, either at law or in equity,
of the relevant Assignor therein and thereto, and shall be a perpetual bar both at law and in
equity against such Assignor and against any and all Persons claiming or attempting to claim the
Collateral so sold, optioned or realized upon, or any part thereof, from, through and under such
Assignor.

          7.4 Application of Proceeds. (a) All moneys collected by the Collateral Agent upon
any sale or other disposition of the Collateral (and, to the extent the Pledge Agreement or any
other Security Document requires proceeds of collateral under such other Security Document to be
applied in accordance with the provisions of this Agreement, all monies collected by the Pledgee or
collateral agent under such other Security Document upon any sale or other disposition of the
collateral under any such Security Document), together with all other moneys received by the
Collateral Agent hereunder and under each other Security Document, shall be applied as follows:

     (i) first, to the payment of all amounts owing the Collateral Agent of the type
described in clauses (iii), (iv) and (v) of the definition of “Obligations”;

     (ii) second, to the extent proceeds remain after the application pursuant to
preceding clause (i), an amount equal to the outstanding Primary Obligations shall be paid
to the Secured Creditors as provided in Section 7.4(e) hereof, with each Secured
Creditor receiving an amount equal to its outstanding Primary Obligations or, if the
proceeds are insufficient to pay in full all such Primary Obligations, its Pro Rata Share of
such amount remaining to be distributed;

     (iii) third, to the extent proceeds remain after the application pursuant to
preceding clauses (i) and (ii), an amount equal to the outstanding Secondary Obligations
shall be paid to the Secured Creditors as provided in Section 7.4(e) hereof, with
each Secured Creditor receiving an amount equal to its outstanding Secondary Obligations or,
if the proceeds are insufficient to pay in full all such Secondary Obligations, its Pro Rata
Share of such amount remaining to be distributed; and

     (iv) fourth, to the extent proceeds remain after the application pursuant to
preceding clauses (i) through (iii), inclusive, and following the termination of this
Agreement pursuant to Section 10.8(a) hereof, to the relevant Assignor or to
whomever may be lawfully entitled to receive such surplus.

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     (b) For purposes of this Agreement, (x) “Pro Rata Share” shall mean, when calculating
a Secured Creditor’s portion of any distribution or amount, that amount (expressed as a percentage)
equal to a fraction the numerator of which is the then unpaid amount of such Secured Creditor’s
Primary Obligations or Secondary Obligations, as the case may be, and the denominator of which is
the then outstanding amount of all Primary Obligations or Secondary Obligations, as the case may
be, (y) “Primary Obligations” shall mean (i) in the case of the Credit Document
Obligations, all principal of, premium, fees and interest on, all Loans, all Unpaid Drawings, all
contingent reimbursement obligations equal to the Stated Amount of all outstanding Letters of
Credit and all Fees, and (ii) in the case of the Other Obligations, all amounts due under each
Interest Rate Protection Agreement and each Other Hedging Agreement with an Other Creditor (other
than indemnities, fees (including, without limitation, attorneys’ fees) and similar obligations and
liabilities) and (z) “Secondary Obligations” shall mean all Obligations other than Primary
Obligations.

          (c) When payments to Secured Creditors are based upon their respective Pro Rata Shares, the
amounts received by such Secured Creditors hereunder shall be applied (for purposes of making
determinations under this Section 7.4 only) (i) first, to their Primary Obligations and
(ii) second, to their Secondary Obligations. If any payment to any Secured Creditor of its Pro
Rata Share of any distribution would result in overpayment to such Secured Creditor, such excess
amount shall instead be distributed in respect of the unpaid Primary Obligations or Secondary
Obligations, as the case may be, of the other Secured Creditors, with each Secured Creditor whose
Primary Obligations or Secondary Obligations, as the case may be, have not been paid in full to
receive an amount equal to such excess amount multiplied by a fraction the numerator of which is
the unpaid Primary Obligations or Secondary Obligations, as the case may be, of such Secured
Creditor entitled to distribution and the denominator of which is the unpaid Primary Obligations or
Secondary Obligations, as the case may be, of all Secured Creditors entitled to such distribution.

          (d) Each of the Secured Creditors, by their acceptance of the benefits hereof and of the other
Security Documents, agrees and acknowledges that if the Lender Creditors are to receive a
distribution on account of undrawn amounts with respect to Letters of Credit issued under the
Credit Agreement (which shall only occur after all outstanding Revolving Loans and Swingline Loans
under the Credit Agreement and Unpaid Drawings have been paid in full), such amounts shall be paid
to the Administrative Agent under the Credit Agreement and held by it, for the equal and ratable
benefit of the Lender Creditors, as cash security for the repayment of Obligations owing to the
Lender Creditors as such. If any amounts are held as cash security pursuant to the immediately
preceding sentence, then upon the termination of all outstanding Letters of Credit under the Credit
Agreement, and after the application of all such cash security to the repayment of all Obligations
owing to the Lender Creditors after giving effect to the termination of all such Letters of Credit,
if there remains any excess cash, such excess cash shall be returned by the Administrative Agent to
the Collateral Agent for distribution in accordance with Section 7.4(a) hereof.

          (e) All payments required to be made hereunder shall be made (x) if to the Lender Creditors,
to the Administrative Agent for the account of the Lender Creditors, and (y) if to the Other
Creditors, to the trustee, paying agent or other similar representative (each, a

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“Representative”) for the Other Creditors or, in the absence of such a Representative,
directly to the Other Creditors.

          (f) For purposes of applying payments received in accordance with this Section 7.4,
the Collateral Agent shall be entitled to rely upon (i) the Administrative Agent and (ii) the
Representative or, in the absence of such a Representative, upon the Other Creditors for a
determination (which the Administrative Agent, each Representative and the Secured Creditors agree
(or shall agree) to provide upon request of the Collateral Agent) of the outstanding Obligations
owed to the Lender Creditors or the Other Creditors, as the case may be. Unless it has received
written notice from a Lender Creditor or an Other Creditor to the contrary, the Administrative
Agent and each Representative, in furnishing information pursuant to the preceding sentence, and
the Collateral Agent, in acting hereunder, shall be entitled to assume that no Secondary
Obligations are outstanding. Unless it has written notice from an Other Creditor to the contrary,
the Collateral Agent, in acting hereunder, shall be entitled to assume that no Interest Rate
Protection Agreements or Other Hedging Agreements are in existence.

          (g) This Agreement is made with full recourse to each Assignor and pursuant to and upon all
the warranties, representations, covenants and agreements on the part of such Assignor contained
herein, in the Secured Debt Agreements and otherwise in writing in connection herewith or
therewith. It is understood that each Assignor shall remain jointly and severally liable to the
extent of any deficiency between the amount of the proceeds of the Collateral and the aggregate
amount of the Obligations.

          7.5 Remedies Cumulative. Each and every right, power and remedy hereby specifically
given to the Collateral Agent shall be in addition to every other right, power and remedy
specifically given to the Collateral Agent under this Agreement, the other Secured Debt Agreements
or now or hereafter existing at law, in equity or by statute and each and every right, power and
remedy whether specifically herein given or otherwise existing may be exercised from time to time
or simultaneously and as often and in such order as may be deemed expedient by the Collateral
Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning
of the exercise of one shall not be deemed a waiver of the right to exercise any other or others.
No delay or omission of the Collateral Agent in the exercise of any such right, power or remedy and
no renewal or extension of any of the Obligations shall impair any such right, power or remedy or
shall be construed to be a waiver of any Default or Event of Default or an acquiescence thereof.
No notice to or demand on any Assignor in any case shall entitle it to any other or further notice
or demand in similar or other circumstances or constitute a waiver of any of the rights of the
Collateral Agent to any other or further action in any circumstances without notice or demand. In
the event that the Collateral Agent shall bring any suit to enforce any of its rights hereunder and
shall be entitled to judgment, then in such suit the Collateral Agent may recover reasonable
expenses, including reasonable attorneys’ fees, and the amounts thereof shall be included in such
judgment.

          7.6 Discontinuance of Proceedings. In case the Collateral Agent shall have instituted
any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale,
entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or
shall have been determined adversely to the Collateral Agent, then and in every such case the
relevant Assignor, the Collateral Agent and each holder of any of the Obligations shall

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be restored to their former positions and rights hereunder with respect to the Collateral
subject to the security interest created under this Agreement, and all rights, remedies and powers
of the Collateral Agent shall continue as if no such proceeding had been instituted.

ARTICLE VIII

INDEMNITY

          8.1 Indemnity. (a) Without limiting the provisions of the other Secured Debt
Agreements, each Assignor jointly and severally agrees to indemnify, reimburse and hold the
Collateral Agent, each other Secured Creditor (in its capacity as such) and their respective
successors, assigns, employees, affiliates, advisors and agents (as to any Indemnitee, its
“Related Parties”) (hereinafter in this Section 8.1 referred to individually as
“Indemnitee,” and collectively as “Indemnitees”) harmless from any and all
liabilities, obligations, damages, injuries, penalties, claims, demands, actions, suits, judgments
and any and all costs, expenses or disbursements (including reasonable attorneys’ fees and expenses
(limited, in the case of any Event of Default, to one counsel to the Collateral Agent, one
additional counsel for all Issuing Lenders and Lenders, taken as a whole, one local counsel for the
Collateral Agent and the Lenders, taken as a whole, in each relevant jurisdiction, and, solely in
the case of an actual or perceived conflict of interests, one additional counsel in each relevant
jurisdiction to each group of affected Lenders similarly situated, taken as a whole)) (for the
purposes of this Section 8.1 the foregoing are collectively called “expenses”) of
whatsoever kind and nature imposed on, asserted against or incurred by any of the Indemnitees in
any way relating to or arising out of this Agreement or the enforcement of any of the terms hereof,
or the preservation of any rights hereunder, or in any way relating to or arising out of the
manufacture, ownership, ordering, purchase, delivery, control, acceptance, lease, financing,
possession, operation, condition, sale, return or other disposition, or use of the Collateral
(including, without limitation, latent or other defects, whether or not discoverable), the
violation of the laws of any country, state or other governmental body or unit, any tort
(including, without limitation, claims arising or imposed under the doctrine of strict liability,
or for or on account of injury to or the death of any Person (including any Indemnitee), or
property damage), or contract claim; provided that no Indemnitee shall be indemnified
pursuant to this Section 8.1(a) for losses, damages or liabilities to the extent caused by
the gross negligence or willful misconduct of such Indemnitee or its Related Parties (as determined
by a court of competent jurisdiction in a final and non-appealable decision). Each Assignor agrees
that upon written notice by any Indemnitee of the assertion of such a liability, obligation,
damage, injury, penalty, claim, demand, action, suit or judgment, the relevant Assignor shall
assume full responsibility for the defense thereof. Each Indemnitee agrees to use its best efforts
to promptly notify the relevant Assignor of any such assertion of which such Indemnitee has
knowledge.

          (b) Without limiting the application of Section 8.1(a) hereof, each Assignor agrees,
jointly and severally, to pay or reimburse the Collateral Agent for any and all reasonable fees,
costs and expenses of whatever kind or nature incurred in connection with the creation,
preservation or protection of the Collateral Agent’s Liens on, and security interest in, the
Collateral, including, without limitation, all fees and taxes in connection with the recording or
filing of instruments and documents in all applicable public offices, payment or discharge of any
taxes or Liens upon or in respect of the Collateral, premiums for insurance with respect to the

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Collateral and all other fees, costs and expenses in connection with protecting, maintaining
or preserving the Collateral and the Collateral Agent’s interest therein, whether through judicial
proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising
out of or relating to the Collateral.

          (c) Without limiting the application of Section 8.1(a) or (b) hereof, each
Assignor agrees, jointly and severally, to pay, indemnify and hold each Indemnitee harmless from
and against any loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur
in consequence of or growing out of any misrepresentation by any Assignor in this Agreement or in
any writing contemplated by or made or delivered pursuant to or in connection with this Agreement.

          (d) If and to the extent that the obligations of any Assignor under this Section 8.1
are unenforceable for any reason, such Assignor hereby agrees to make the maximum contribution to
the payment and satisfaction of such obligations which is permissible under applicable law.

          8.2 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any
Indemnitee as to which such Indemnitee has the right to reimbursement shall constitute Obligations
secured by the Collateral. The indemnity obligations of each Assignor contained in this
Article VIII shall continue in full force and effect notwithstanding the full payment of
all of the other Obligations and notwithstanding the full payment of all the Notes issued, and
Loans made, under the Credit Agreement, the termination of all Letters of Credit issued under the
Credit Agreement, the termination of all Interest Rate Protection Agreements and Other Hedging
Agreements entered into with the Other Creditors and the payment of all other Obligations and
notwithstanding the discharge thereof and the occurrence of the Termination Date.

ARTICLE IX

DEFINITIONS

          The following terms shall have the meanings herein specified. Such definitions shall be
equally applicable to the singular and plural forms of the terms defined.

          “Account” shall mean any “account” as such term is defined in the UCC as in effect on
the date hereof in the State of New York, and in any event shall include but shall not be limited
to, all rights to payment of any monetary obligation, whether or not earned by performance, (i) for
property that has been or is to be sold, leased, licensed, assigned or otherwise disposed of, (ii)
for services rendered or to be rendered, (iii) for a secondary obligation incurred or to be
incurred, (iv) for energy provided or to be provided, (v) arising out of the use of a credit or
charge card or information contained on or for use with the card, or (vi) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or person
licensed or authorized to operate the game by a State or governmental unit of a State. Without
limiting the foregoing, the term “account” shall include all Health-Care-Insurance Receivables.

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          “Administrative Agent” shall have the meaning provided in the recitals of this
Agreement.

          “Agreement” shall mean this Security Agreement as the same may be amended, modified,
restated and/or supplemented from time to time in accordance with its terms.

          “As-Extracted Collateral” shall mean “as-extracted collateral” as such term is defined
in the UCC as in effect on the date hereof in the State of New York.

          “Assignor” shall have the meaning provided in the first paragraph of this Agreement.

          “Borrower” shall have the meaning provided in the recitals of this Agreement.

          “Cash Collateral Account” shall mean a non-interest bearing cash collateral account
maintained with, and in the sole dominion and control of, the Collateral Agent for the benefit of
the Secured Creditors.

          “Chattel Paper” shall mean “chattel paper” as such term is defined in the UCC as in
effect on the date hereof in the State of New York. Without limiting the foregoing, the term
“Chattel Paper” shall in any event include all Tangible Chattel Paper and all Electronic Chattel
Paper.

          “Class” shall have the meaning provided in Section 10.2 of this Agreement.

          “Collateral” shall have the meaning provided in Section 1.1(a) of this
Agreement.

          “Collateral Agent” shall have the meaning provided in the first paragraph of this
Agreement.

          “Commercial Tort Claims” shall mean “commercial tort claims” as such term is defined
in the UCC as in effect on the date hereof in the State of New York.

          “Contract Rights” shall mean all rights of any Assignor under each Contract,
including, without limitation, (i) any and all rights to receive and demand payments under any or
all Contracts, (ii) any and all rights to receive and compel performance under any or all
Contracts, and (iii) any and all other rights, interests and claims now existing or in the future
arising in connection with any or all Contracts.

          “Contracts” shall mean all contracts between any Assignor and one or more additional
parties (including, without limitation, any Interest Rate Protection Agreements, Other Hedging
Agreements, licensing agreements and any partnership agreements, joint venture agreements and
limited liability company agreements).

          “Copyrights” shall mean any United States or foreign copyright owned by any Assignor,
including any registrations of any copyrights, in the United States Copyright Office or any foreign
equivalent office, as well as any application for a copyright registration made with the United
States Copyright Office or any foreign equivalent office by any Assignor.

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          “Credit Agreement” shall have the meaning provided in the recitals of this Agreement.

          “Credit Document Obligations” shall have the meaning provided in the definition of
“Obligations” in this Article IX.

          “Credit Documents” shall have the meaning provided in the Credit Agreement, as such
documents may be amended, modified, restated and/or supplemented from time to time in connection
with the Credit Agreement.

          “Deposit Accounts” shall mean all “deposit accounts” as such term is defined in the
UCC as in effect on the date hereof in the State of New York.

          “Documents” shall mean “documents” as such term is defined in the UCC as in effect on
the date hereof in the State of New York.

          “Domain Names” shall mean all Internet domain names and associated URL addresses in or
to which any Assignor has any right, title or interest.

          “Electronic Chattel Paper” shall mean “electronic chattel paper” as such term is
defined in the UCC as in effect on the date hereof in the State of New York.

          “Equipment” shall mean any “equipment” as such term is defined in the UCC as in effect
on the date hereof in the State of New York now or hereafter owned by any Assignor, and in any
event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures
and vehicles now or hereafter owned by any Assignor and any and all additions, substitutions and
replacements of any of the foregoing and all accessions thereto, wherever located, together with
all attachments, components, parts, equipment and accessories installed thereon or affixed thereto.

          “Event of Default” shall mean any Event of Default under, and as defined in, the
Credit Agreement or, after the Credit Document Obligations have been paid in full and all Letters
of Credit and Commitments have terminated, an Event of Default (or similar term) under any Interest
Rate Protection Agreement or Other Hedging Agreement entered into with an Other Creditor.

          “Excluded Collateral” shall mean (i) any Contract that validly prohibits, restricts or
requires the consent not obtained of a third party (other than Holdings or a Subsidiary thereof)
for the creation by such Assignor of a security interest in such Contract (or in any rights or
property obtained by such Assignor under such Contracts) except to the extent that any such
prohibition or restriction would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408
and 9-409 of the UCC (or any successor provision or provisions) or any other applicable law
(including the Bankruptcy Code), (ii) any property subject to a Lien permitted by Section
10.01(vi), (vii), (xiv) or (xv) of the Credit Agreement, to the extent that the contractual
arrangements governing such Lien expressly prohibit the granting of a security interest hereunder
in such property, (iii) any property to the extent that such grant of a security interest is
prohibited by a governmental authority, or requires a consent not obtained of any governmental
authority and (iv) the Equity Interests in Persons that are not Wholly-Owned Subsidiaries of
Holdings but

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only to the extent that the pledge of such Equity Interests is not permitted hereunder by the
terms of any agreement or organizational document of such Person and only so long as such
contractual prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective
by the UCC, the Bankruptcy Code or any other requirement of law.

          “General Intangibles” shall mean “general intangibles” as such term is defined in the
UCC as in effect on the date hereof in the State of New York.

          “Goods” shall mean “goods” as such term is defined in the UCC as in effect on the date
hereof in the State of New York.

          “Health-Care-Insurance Receivable” shall mean any “health-care-insurance receivable”
as such term is defined in the UCC as in effect on the date hereof in the State of New York.

          “Holdings” shall have the meaning provided in the recitals hereto.

          “Indemnitee” shall have the meaning provided in Section 8.1(a) of this
Agreement.

          “Instrument” shall mean “instruments” as such term is defined in the UCC as in effect
on the date hereof in the State of New York.

          “Inventory” shall mean merchandise, inventory and goods, and all additions,
substitutions and replacements thereof and all accessions thereto, wherever located, together with
all goods, supplies, incidentals, packaging materials, labels, materials and any other items used
or usable in manufacturing, processing, packaging or shipping same, in all stages of production
from raw materials through work in process to finished goods, and all products and proceeds of
whatever sort and wherever located any portion thereof which may be returned, rejected, reclaimed
or repossessed by the Collateral Agent from any Assignor’s customers, and shall specifically
include all “inventory” as such term is defined in the UCC as in effect on the date hereof in the
State of New York.

          “Investment Property” shall mean “investment property” as such term is defined in the
UCC as in effect on the date hereof in the State of New York.

          “Lender Creditors” shall have the meaning provided in the recitals of this Agreement.

          “Lenders” shall have the meaning provided in the recitals of this Agreement.

          “Letter-of-Credit Rights” shall mean “letter-of-credit rights” as such term is defined
in the UCC as in effect on the date hereof in the State of New York.

          “Marks” shall mean any trademarks, service marks and trade names owned by any
Assignor, including any registration or application for registration of any trademarks and service
marks owned by any Assignor, which are registered or filed in the United States Patent and
Trademark Office or the equivalent thereof in any state of the United States or any

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equivalent foreign office or agency, as well as any unregistered trademarks and service marks
owned by any Assignor and any trade dress owned by any Assignor.

          “Obligations” shall mean and include, as to any Assignor, all of the following:

     (i) the full and prompt payment when due (whether at stated maturity, by acceleration
or otherwise) of all obligations, liabilities and indebtedness (including, without
limitation, principal, premium, interest, reimbursement obligations (both actual and
contingent) under Letters of Credit, fees, cost and indemnities (including, in each case,
without limitation, all interest that accrues after the commencement of any case, proceeding
or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding
of any Assignor at the rate provided for in the respective documentation, whether or not a
claim for post-petition interest is allowed in any such proceeding) of such Assignor to the
Lender Creditors, whether now existing or hereafter incurred under, arising out of, or in
connection with, the Credit Agreement and the other Credit Documents to which such Assignor
is a party (including, without limitation, in the event such Assignor is a Guarantor, all
such obligations, liabilities and indebtedness of such Assignor under its Guaranty) and the
due performance and compliance by such Assignor with all of the terms, conditions and
agreements contained in the Credit Agreement and in such other Credit Documents (all such
obligations, liabilities and indebtedness under this clause (i), except to the extent
consisting of obligations or indebtedness with respect to Interest Rate Protection
Agreements or Other Hedging Agreements, being herein collectively called the “Credit
Document Obligations”);

     (ii) the full and prompt payment when due (whether at stated maturity, by acceleration
or otherwise) of all obligations, liabilities and indebtedness (including, in each case,
without limitation, all interest that accrues after the commencement of any case, proceeding
or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding
of any Assignor at the rate provided for in the respective documentation, whether or not a
claim for post-petition interest is allowed in any such proceeding) owing by each Assignor
to the Other Creditors, now existing or hereafter incurred under, arising out of or in
connection with any Interest Rate Protection Agreement or Other Hedging Agreement, whether
such Interest Rate Protection Agreement or Other Hedging Agreement is now in existence or
hereinafter arising (including, without limitation, in the case of an Assignor that is a
Guarantor, all obligations, liabilities and indebtedness of such Assignor under its Guaranty
in respect of the Interest Rate Protection Agreements and Other Hedging Agreements), and the
due performance and compliance by such Assignor with all of the terms, conditions and
agreements contained in each such Interest Rate Protection Agreement and Other Hedging
Agreement (all such obligations, liabilities and indebtedness under this clause (ii) being
herein collectively called the “Other Obligations”);

     (iii) any and all sums advanced by the Collateral Agent in order to preserve the
Collateral or preserve its security interest in the Collateral;

     (iv) in the event of any proceeding for the collection or enforcement of any
indebtedness, obligations, or liabilities of such Assignor referred to in clauses (i) and
(ii)

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above, after an Event of Default shall have occurred and be continuing, the reasonable
expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing
of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights
hereunder, together with reasonable attorneys’ fees and court costs; and

     (v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to
reimbursement under Section 8.1 of this Agreement;

it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the
types described above, whether outstanding on the date of this Agreement or extended from time to
time after the date of this Agreement.

          “Other Creditors” shall have the meaning provided in the recitals of this Agreement.

          “Other Obligations” shall have the meaning provided in the definition of “Obligations”
in this Article IX.

          “Patents” shall mean any United States or foreign patent owned by any Assignor, and
any divisions, continuations (including, but not limited to, continuations-in-parts) and
improvements thereof.

          “Permits” shall mean, to the extent permitted to be assigned by the terms thereof or
by applicable law, all licenses, permits, rights, orders, variances, franchises or authorizations
of or from any governmental authority or agency.

          “Primary Obligations” shall have the meaning provided in Section 7.4(b) of
this Agreement.

          “Pro Rata Share” shall have the meaning provided in Section 7.4(b) of this
Agreement.

          “Proceeds” shall mean all “proceeds” as such term is defined in the UCC as in effect
in the State of New York on the date hereof and, in any event, shall also include, but not be
limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to
the Collateral Agent or any Assignor from time to time with respect to any of the Collateral, (ii)
any and all payments (in any form whatsoever) made or due and payable to any Assignor from time to
time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all
or any part of the Collateral by any governmental authority (or any person acting under color of
governmental authority) and (iii) any and all other amounts from time to time paid or payable under
or in connection with any of the Collateral.

          “Registered Organization” shall have the meaning provided in the UCC as in effect in
the State of New York.

          “Representative” shall have the meaning provided in Section 7.4(e) of this
Agreement.

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          “Required Secured Creditors” shall mean (i) at any time when any Credit Document
Obligations are outstanding (other than contingent indemnity obligations that are not then due and
payable) or any Commitments or Letters of Credit under the Credit Agreement exist, the Required
Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders)
and (ii) at any time after all of the Credit Document Obligations have been paid in full in cash
(other than contingent indemnity obligations that are not then due and payable) and all Commitments
and Letters of Credit under the Credit Agreement have been terminated and no further Commitments or
Letters of Credit may be provided thereunder, the holders of a majority of the Other Obligations.

          “Requisite Creditors” shall have the meaning provided in Section 10.2 of this
Agreement.

          “Secondary Obligations” shall have the meaning provided in Section 7.4(b) of
this Agreement.

          “Secured Creditors” shall have the meaning provided in the recitals of this Agreement.

          “Secured Debt Agreements” shall mean and include (i) this Agreement and the other
Credit Documents and (ii) the Interest Rate Protection Agreements and Other Hedging Agreements
entered into with an Other Creditor.

          “Securities Accounts” shall mean all “securities accounts” as such term is defined in
the UCC as in effect on the date hereof in the State of New York.

          “Software” shall mean “software” as such term is defined in the UCC as in effect on
the date hereof in the State of New York.

          “Supporting Obligations” shall mean any “supporting obligation” as such term is
defined in the UCC as in effect on the date hereof in the State of New York, now or hereafter owned
by any Assignor, or in which any Assignor has any rights, and, in any event, shall include, but
shall not be limited to, all of such Assignor’s rights in any Letter-of-Credit Right or secondary
obligation that supports the payment or performance of, and all security for, any Account, Chattel
Paper, Document, General Intangible, Instrument or Investment Property.

          “Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined
in the UCC as in effect on the date hereof in the State of New York.

          “Termination Date” shall have the meaning provided in Section 10.8(a) of this
Agreement.

          “Trade Secrets” shall mean any trade secrets or other proprietary and confidential
information including financial data, personal information, customer lists, supplier lists,
business plans, and data collections, to the extent each of the foregoing constitute trade secrets,
to which any Assignor has any right, title or interest therein.

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          “Transmitting Utility” shall have the meaning given such term in Section 9-102(a)(80)
of the UCC.

          “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the
relevant jurisdiction.

ARTICLE X

MISCELLANEOUS

          10.1 Notices. Except as otherwise specified herein, all notices, requests, demands or
other communications to or upon the respective parties hereto shall be sent or delivered by mail,
telecopy or courier service and all such notices and communications shall, when mailed, telecopied
or sent by courier, be effective when deposited in the mails, delivered to the overnight courier,
or sent by telecopier, except that notices and communications to the Collateral Agent or any
Assignor shall not be effective until received by the Collateral Agent or such Assignor, as the
case may be. All notices and other communications shall be in writing and addressed as follows:

          (a) if to any Assignor, at:

c/o Town Sports International, LLC

5 Penn Plaza

4th Floor

New York, New York 10001

Attention: Dan Gallagher

Telephone No.: (212) 246-6700

Telecopier No.: (212) 246-8422

          (b) if to the Collateral Agent, at:

60 Wall Street

New York, New York 10005

Attention: Carin Keegan

Telephone No.: (212) 250-6083

Telecopier No.: (212) 250-5690

     (c) if to any Lender Creditor (other than the Collateral Agent), at such address as
such Lender Creditor shall have specified in the Credit Agreement;

     (d) if to any Other Creditor, at such address as such Other Creditor shall have
specified in writing to the Borrower and the Collateral Agent;

or at such other address or addressed to such other individual as shall have been furnished in
writing by any Person described above to the party required to give notice hereunder.

          10.2 Waiver; Amendment. Except as provided in Sections 10.8 and 10.12
hereof and Section 13.12(c) of the Credit Agreement, none of the terms and conditions of
this

27

 

Agreement or any other Security Document may be changed, waived, modified or varied in any
manner whatsoever unless in writing duly signed by each Assignor directly affected thereby (it
being understood that the addition or release of any Assignor hereunder shall not constitute a
change, waiver, discharge or termination affecting any Assignor other than the Assignor so added or
released) and the Collateral Agent (with the written consent of the Required Secured Creditors);
provided, however, (i) that any change, waiver, modification or variance affecting
the rights and benefits of a single Class of Secured Creditors (and not all Secured Creditors in a
like or similar manner) also shall require the written consent of the Requisite Creditors of such
affected Class, (ii) supplements to the Annexes hereto and to the other Security Documents may be
made without the consent of any Secured Creditor, other than the Collateral Agent, as provided
herein or therein, and (iii) Assignors may be released from their obligations hereunder and under
the other Security Documents and new Assignors may be added hereto and to the other Security
Documents without the consent of any Secured Creditors other than the Collateral Agent, as provided
herein or therein. For the purpose of this Agreement and each other Security Document, the term
“Class” shall mean each class of Secured Creditors, i.e., whether (x) the Lender
Creditors as holders of the Credit Document Obligations or (y) the Other Creditors as the holders
of the Other Obligations. For the purpose of this Agreement, the term “Requisite
Creditors” of any Class shall mean each of (x) with respect to the Credit Document Obligations,
the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of
the Lenders), and (y) with respect to the Other Obligations, the holders of at least a majority of
all Other Obligations outstanding from time to time.

          10.3 Obligations Absolute. The obligations of each Assignor hereunder shall remain in
full force and effect without regard to, and shall not be impaired by, (a) any bankruptcy,
insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of such
Assignor; (b) any exercise or non-exercise, or any waiver of, any right, remedy, power or privilege
under or in respect of this Agreement or any other Secured Debt Agreement; or (c) any amendment to
or modification of any Secured Debt Agreement or any security for any of the Obligations; whether
or not such Assignor shall have notice or knowledge of any of the foregoing.

          10.4 Successors and Assigns. This Agreement shall create a continuing security
interest in the Collateral and shall (i) remain in full force and effect, subject to release and/or
termination as set forth in Section 10.8 hereof, (ii) be binding upon each Assignor, its
successors and assigns; provided, however, that no Assignor shall assign any of its
rights or obligations hereunder or under the other Credit Documents without the prior written
consent of the Collateral Agent (with the prior written consent of the Required Secured Creditors),
and (iii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the
benefit of the Collateral Agent, the other Secured Creditors and their respective successors,
transferees and assigns. All agreements, statements, representations and warranties made by each
Assignor herein or in any certificate or other instrument delivered by such Assignor or on its
behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors
and shall survive the execution and delivery of this Agreement and the other Secured Debt
Agreements regardless of any investigation made by the Secured Creditors or on their behalf.

28

 

          10.5 Headings Descriptive. The headings of the several sections of this Agreement are
inserted for convenience only and shall not in any way affect the meaning or construction of any
provision of this Agreement.

          10.6 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a) THIS
AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE
WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE
OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK IN EACH CASE WHICH ARE
LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH ASSIGNOR
HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH ASSIGNOR HEREBY FURTHER
IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH ASSIGNOR,
AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT
OR ANY OTHER CREDIT DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH COURT LACKS
PERSONAL JURISDICTION OVER SUCH ASSIGNOR. EACH ASSIGNOR FURTHER IRREVOCABLY CONSENTS TO THE
SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE
MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO ANY SUCH ASSIGNOR AT
ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 10.1 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE
30 DAYS AFTER SUCH MAILING. EACH ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE
OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR
PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS
IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN, HOWEVER, SHALL AFFECT THE RIGHT OF THE
COLLATERAL AGENT UNDER THIS AGREEMENT, OR ANY SECURED CREDITOR, TO SERVE PROCESS IN ANY OTHER
MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY ASSIGNOR
IN ANY OTHER JURISDICTION.

          (b) EACH ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN
CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH
COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

29

 

          (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

          10.7 Assignor’s Duties. It is expressly agreed, anything herein contained to the
contrary notwithstanding, that, prior to the Termination Date, each Assignor shall remain liable to
perform all of the obligations, if any, assumed by it with respect to the Collateral and, except as
otherwise provided in Section 10.11 hereof, the Collateral Agent shall not have any
obligations or liabilities with respect to any Collateral by reason of or arising out of this
Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or
fulfill any of the obligations of any Assignor under or with respect to any Collateral.

          10.8 Termination; Release. (a) After the Termination Date, this Agreement shall
terminate (provided that all indemnities set forth herein including, without limitation in
Section 8.1 hereof, shall survive such termination) and the Collateral Agent, at the
request and expense of the respective Assignor, will promptly execute and deliver to such Assignor
a proper instrument or instruments (including UCC termination statements on form UCC-3)
acknowledging the satisfaction and termination of this Agreement, and will duly assign, transfer
and deliver to such Assignor (without recourse and without any representation or warranty) such of
the Collateral as may be in the possession of the Collateral Agent and as has not theretofore been
sold or otherwise applied or released pursuant to this Agreement. As used in this Agreement,
“Termination Date” shall mean the date upon which both (A) the Total Commitment under the
Credit Agreement has been terminated, no Note under the Credit Agreement is outstanding and all
Loans thereunder have been repaid in full, all Letters of Credit issued under the Credit Agreement
have been terminated and all other Credit Document Obligations then due and payable have been paid
in full and (B) unless the respective Interest Rate Protection Agreements and Other Hedging
Agreements specifically provide otherwise, all Interest Rate Protection Agreements and Other
Hedging Agreements entered into with any Other Creditor have been terminated and all Other
Obligations then due and payable have been paid in full.

          (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person
other than a Credit Party in accordance with the Credit Agreement) or any other transaction
expressly permitted by the Credit Agreement requires a release of the relevant Collateral (x) at
any time prior to the time at which all Credit Document Obligations have been paid in full and all
Commitments and Letters of Credit under the Credit Agreement have been terminated, in connection
with a sale or disposition permitted by the Secured Debt Agreements or is otherwise released at the
direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit
Agreement) or (y) at any time thereafter, to the extent permitted by the other Secured Debt
Agreements, and in the case of clauses (x) and (y), the proceeds of such sale or other disposition
(or from such release) are applied in accordance with the terms of the Credit Agreement or such
other Secured Debt Agreements, as the case may be, to the extent required to be so applied, the
Collateral Agent, at the request and expense of such Assignor, will duly release from the security
interest created hereby (and will execute and deliver such documentation, including termination or
partial release statements and the like in connection therewith) and assign, transfer and deliver
to such Assignor (without recourse and without any

30

 

representation or warranty) such of the Collateral as is then being (or has been) so sold or
otherwise disposed of, or released, and as may be in the possession of the Collateral Agent and has
not theretofore been released pursuant to this Agreement. Furthermore, upon the release of any
Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, such
Assignor (and the Collateral at such time assigned by the respective Assignor pursuant hereto)
shall be released from this Agreement.

          (c) At any time that an Assignor desires that the Collateral Agent take any action to
acknowledge or give effect to any release of Collateral pursuant to the foregoing Section
10.8(a) or (b), such Assignor shall deliver to the Collateral Agent a certificate
signed by a senior officer of such Assignor stating that the release of the respective Collateral
is permitted pursuant to such Section 10.8(a) or (b). At any time that the
Borrower or the respective Assignor desires that a Subsidiary of the Borrower which has been
released from the Subsidiaries Guaranty be released hereunder as provided in the last sentence of
Section 10.8(b) hereof, it shall deliver to the Collateral Agent a certificate signed by a
principal executive officer of the Borrower and the respective Assignor stating that the release of
the respective Assignor (and its Collateral) is permitted pursuant to such Section 10.8(b).

          (d) The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as
the result of any release of Collateral by it in accordance with (or which the Collateral Agent in
the absence of gross negligence and willful misconduct believes to be in accordance with) this
Section 10.8.

          10.9 Counterparts. This Agreement may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same
instrument. A set of counterparts executed by all the parties hereto shall be lodged with the
Borrower and the Collateral Agent.

          10.10 Severability. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

          10.11 The Collateral Agent and the other Secured Creditors. The Collateral Agent will
hold in accordance with this Agreement all items of the Collateral at any time received under this
Agreement. It is expressly understood and agreed that the obligations of the Collateral Agent as
holder of the Collateral and interests therein and with respect to the disposition thereof, and
otherwise under this Agreement, are only those expressly set forth in this Agreement and in Section
12 of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions
set forth herein and in Section 12 of the Credit Agreement.

          10.12 Additional Assignors. It is understood and agreed that any Subsidiary Guarantor
that desires to become an Assignor hereunder, or is required to execute a counterpart of this
Agreement after the date hereof pursuant to the respective Secured Debt Agreements, shall become an
Assignor hereunder by executing a counterpart hereof and delivering same to

31

 

the Collateral Agent, or by executing a Joinder Agreement, (y) delivering supplements to
Annexes A through G, inclusive, hereto as are necessary to cause such Annexes to be
complete and accurate with respect to such additional Assignor on such date, and (z) taking all
actions as specified in this Agreement as would have been taken by such Assignor had it been an
original party to this Agreement, in each case with all documents required above to be delivered to
the Collateral Agent and with all documents and actions required above to be taken to the
reasonable satisfaction of the Collateral Agent.

[Remainder of this page intentionally left blank; signature page follows]

32

 

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

	 	 	 	 	 
	 	TOWN SPORTS INTERNATIONAL, LLC, 	 
	 	 	as an Assignor

 	 
	 	By:  	/s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TOWN SPORTS INTERNATIONAL HOLDINGS, INC., 	 
	 	 	as an Assignor

 	 
	 	By:  	/s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	Address:

	 	TSI 217 BROADWAY, LLC
	c/o Town Sports International, LLC

	 	TSI ALEXANDRIA, LLC
	5 Penn Plaza, 4th Floor

	 	TSI ALEXANDRIA WEST, LLC
	New York, NY 10001

	 	TSI ALLSTON, LLC
	Attention: Dan Gallagher

	 	TSI ANDOVER, LLC
	Tel. No.: (212) 246-6700

	 	TSI ARDMORE, LLC
	Fax No.: (212) 246-8422

	 	TSI ARTHRO-FITNESS SERVICES, LLC
	 

	 	TSI ASTORIA, LLC
	 

	 	TSI BATTERY PARK, LLC
	 

	 	TSI BAY RIDGE 86TH STREET, LLC
	 

	 	TSI BAYONNE, LLC
	 

	 	TSI BAYRIDGE, LLC
	 

	 	TSI BENSONHURST, LLC
	 

	 	TSI BETHESDA, LLC
	 

	 	TSI BOYLSTON, LLC
	 

	 	TSI BROADWAY, LLC
	 

	 	TSI BROOKLYN BELT, LLC
	 

	 	TSI BRUNSWICK, LLC
	 

	 	TSI BULFINCH, LLC
	 

	 	TSI BUTLER, LLC
	 

	 	TSI CARMEL, LLC
	 

	 	TSI CASH MANAGEMENT, LLC
	 

	 	TSI CENTRAL SQUARE, LLC
	 

	 	TSI CHERRY HILL, LLC
	 

	 	TSI CHEVY CHASE, LLC
	 

	 	TSI CLARENDON, LLC
	 

	 	TSI CLIFTON, LLC
	 

	 	TSI COBBLE HILL, LLC
	 

	 	TSI COLONIA, LLC
	 

	 	TSI COLUMBIA HEIGHTS, LLC
	 

	 	TSI COMMACK, LLC
	 

	 	TSI CONNECTICUT AVENUE, LLC
	 

	 	TSI COURT STREET, LLC
	 

	 	TSI CROTON, LLC
	 

	 	TSI DANBURY, LLC
	 

	 	TSI DEDHAM, LLC
	 

	 	TSI DEER PARK, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                        /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	 

	 	TSI DOBBS FERRY, LLC
	 

	 	TSI DAVIS SQUARE, LLC
	 

	 	TSI DOBBS FERRY, LLC
	 

	 	TSI DOWNTOWN CROSSING, LLC
	 

	 	TSI DUPONT CIRCLE, INC.
	 

	 	TSI DUPONT II, INC.
	 

	 	TSI EAST 23, LLC
	 

	 	TSI EAST 31, LLC
	 

	 	TSI EAST 34, LLC
	 

	 	TSI EAST 36, LLC
	 

	 	TSI EAST 41, LLC
	 

	 	TSI EAST 48, LLC
	 

	 	TSI EAST 51, LLC
	 

	 	TSI EAST 59, LLC
	 

	 	TSI EAST 76, LLC
	 

	 	TSI EAST 86, LLC
	 

	 	TSI EAST 91, LLC
	 

	 	TSI EAST BRUNSWICK, LLC
	 

	 	TSI EAST MEADOW, LLC
	 

	 	TSI ENGLEWOOD, LLC
	 

	 	TSI F STREET, LLC
	 

	 	TSI FAIRFAX, LLC
	 

	 	TSI FENWAY, LLC
	 

	 	TSI FIRST AVENUE, LLC
	 

	 	TSI FOREST HILLS, LLC
	 

	 	TSI FORT LEE, LLC
	 

	 	TSI FRAMINGHAM, LLC
	 

	 	TSI FRANKLIN (MA), LLC
	 

	 	TSI FRANKLIN PARK, LLC
	 

	 	TSI FREEHOLD, LLC
	 

	 	TSI GALLERY PLACE, LLC
	 

	 	TSI GARDEN CITY, LLC
	 

	 	TSI GARNERVILLE, LLC
	 

	 	TSI GEORGETOWN, LLC
	 

	 	TSI GERMANTOWN, LLC
	 

	 	TSI GLENDALE, LLC
	 

	 	TSI GLOVER, LLC
	 

	 	TSI GRAND CENTRAL, LLC
	 

	 	TSI GREAT NECK, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                        /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	 

	 	TSI GREENWICH, LLC
	 

	 	TSI HARTSDALE, LLC
	 

	 	TSI HAWTHORNE, LLC
	 

	 	TSI HERALD, LLC
	 

	 	TSI HICKSVILLE, LLC
	 

	 	TSI HIGHPOINT, LLC
	 

	 	TSI HOBOKEN, LLC
	 

	 	TSI HOBOKEN NORTH, LLC
	 

	 	TSI HOLDINGS (CIP), LLC
	 

	 	TSI HOLDINGS (DC), LLC
	 

	 	TSI HOLDINGS (MA), LLC
	 

	 	TSI HOLDINGS (MD), LLC
	 

	 	TSI HOLDINGS (NJ), LLC
	 

	 	TSI HOLDINGS (PA), LLC
	 

	 	TSI HOLDINGS (VA), LLC
	 

	 	TSI HUNTINGTON, LLC
	 

	 	TSI INTERNATIONAL, INC.
	 

	 	TSI IRVING PLACE, LLC
	 

	 	TSI JAMAICA ESTATES, LLC
	 

	 	TSI JERSEY CITY, LLC
	 

	 	TSI K STREET, LLC
	 

	 	TSI LARCHMONT, LLC
	 

	 	TSI LEXINGTON (MA), LLC
	 

	 	TSI LINCOLN, LLC
	 

	 	TSI LIVINGSTON, LLC
	 

	 	TSI LONG BEACH, LLC
	 

	 	TSI LYNNFIELD, LLC
	 

	 	TSI M STREET, LLC
	 

	 	TSI MAHWAH, LLC
	 

	 	TSI MAMARONECK, LLC
	 

	 	TSI MARKET STREET, LLC
	 

	 	TSI MARLBORO, LLC
	 

	 	TSI MATAWAN, LLC
	 

	 	TSI MERCER STREET, LLC
	 

	 	TSI MIDWOOD, LLC
	 

	 	TSI MONTCLAIR, LLC
	 

	 	TSI MORRIS PARK, LLC
	 

	 	TSI MURRAY HILL, LLC
	 

	 	TSI NANUET, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                        /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	 

	 	TSI NATICK, LLC
	 

	 	TSI NEW ROCHELLE, LLC
	 

	 	TSI NEWARK, LLC
	 

	 	TSI NEWBURY STREET, LLC
	 

	 	TSI NEWTON, LLC
	 

	 	TSI NO SWEAT, LLC
	 

	 	TSI NORTH BETHESDA, LLC
	 

	 	TSI NORWALK, LLC
	 

	 	TSI OCEANSIDE, LLC
	 

	 	TSI OLD BRIDGE, LLC
	 

	 	TSI PARSIPPANY, LLC
	 

	 	TSI PLAINSBORO, LLC
	 

	 	TSI PORT JEFFERSON, LLC
	 

	 	TSI PRINCETON, LLC
	 

	 	TSI PRINCETON NORTH, LLC
	 

	 	TSI PROVIDENCE DOWNTOWN, LLC
	 

	 	TSI PROVIDENCE EASTSIDE, LLC
	 

	 	TSI RADNOR, LLC
	 

	 	TSI RAMSEY, LLC
	 

	 	TSI READE STREET, LLC
	 

	 	TSI REGO PARK, LLC
	 

	 	TSI RIDGEWOOD, LLC
	 

	 	TSI RODIN PLACE, LLC
	 

	 	TSI SCARSDALE, LLC
	 

	 	TSI SEAPORT, LLC
	 

	 	TSI SHERIDAN, LLC
	 

	 	TSI SILVER SPRING, LLC
	 

	 	TSI SMITHTOWN, LLC
	 

	 	TSI SOCIETY HILL, LLC
	 

	 	TSI SOHO, LLC
	 

	 	TSI SOMERS, LLC
	 

	 	TSI SOMERSET, LLC
	 

	 	TSI SOUTH BETHESDA, LLC
	 

	 	TSI SOUTH END, LLC
	 

	 	TSI SOUTH PARK SLOPE, LLC
	 

	 	TSI SOUTH STATION, LLC
	 

	 	TSI SPRINGFIELD, LLC
	 

	 	TSI STAMFORD DOWNTOWN, LLC
	 

	 	TSI STAMFORD POST, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                        /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	 

	 	TSI STAMFORD RINKS, LLC
	 

	 	TSI STATEN ISLAND, LLC
	 

	 	TSI STERLING, LLC
	 

	 	TSI SUNNYSIDE, LLC
	 

	 	TSI SYOSSET, LLC
	 

	 	TSI UNIVERSITY MANAGEMENT, LLC
	 

	 	TSI VARICK STREET, LLC
	 

	 	TSI WALL STREET, LLC
	 

	 	TSI WALTHAM, LLC
	 

	 	TSI WASHINGTON, INC.
	 

	 	TSI WATER STREET, LLC
	 

	 	TSI WATERTOWN, LLC
	 

	 	TSI WAYLAND, LLC
	 

	 	TSI WELLESLEY, LLC
	 

	 	TSI WELLINGTON CIRCLE, LLC
	 

	 	TSI WEST 14, LLC
	 

	 	TSI WEST 16, LLC
	 

	 	TSI WEST 23, LLC
	 

	 	TSI WEST 38, LLC
	 

	 	TSI WEST 41, LLC
	 

	 	TSI WEST 44, LLC
	 

	 	TSI WEST 48, LLC
	 

	 	TSI WEST 52, LLC
	 

	 	TSI WEST 73, LLC
	 

	 	TSI WEST 76, LLC
	 

	 	TSI WEST 80, LLC
	 

	 	TSI WEST 94, LLC
	 

	 	TSI WEST 115TH STREET, LLC
	 

	 	TSI WEST 125, LLC
	 

	 	TSI WEST 145TH STREET, LLC
	 

	 	TSI WEST CALDWELL, LLC
	 

	 	TSI WEST HARTFORD, LLC
	 

	 	TSI WEST NEWTON, LLC
	 

	 	TSI WEST NYACK, LLC
	 

	 	TSI WEST SPRINGFIELD, LLC
	 

	 	TSI WESTBOROUGH, LLC
	 

	 	TSI WESTPORT, LLC
	 

	 	TSI WESTWOOD, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                        /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 

Signature page to Town Sports Security Agreement — 2011

 

 

	 	 	 

	 

	 	TSI WEYMOUTH, LLC
	 

	 	TSI WHITE PLAINS, LLC
	 

	 	TSI WHITE PLAINS CITY CENTER, LLC
	 

	 	TSI WHITESTONE, LLC
	 

	 	TSI WOBURN, LLC
	 

	 	TSI WOODMERE, LLC,
	 

	 	     each as an Assignor

	 	 	 	 	 
	 	 	 
	 	By:  	                                                  /s/ Daniel G. Gallagher
 	 
	 	 	Name:  	Daniel G. Gallagher 	 
	 	 	Title:  	Senior Vice President — Chief
Financial Officer 	 
	 

Signature page to Town Sports Security Agreement — 2011

 

 

Accepted and Agreed to:

DEUTSCHE BANK TRUST COMPANY

AMERICAS, as Collateral Agent

	 	 	 	 	 

	By:

	 	/s/ Carin Keegan
 

Name: Carin Keegan
	 	 
	 

	 	Title: Director	 	 
	 
	 	 	 	 
	By:

	 	/s/ Enrique Landaeta	 	 
	 

	 	 	 	 
	 

	 	Name: Enrique Landaeta	 	 
	 

	 	Title: Vice President	 	 

Signature page to Town Sports Security Agreement — 2011

 

 

ANNEX A

to

SECURITY AGREEMENT

SCHEDULE OF CHIEF EXECUTIVE OFFICES

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	Town Sports International Holdings, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	Town Sports International, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI 217 Broadway, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Alexandria, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Alexandria West, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Allston, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Andover, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ardmore, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Arthro-Fitness Services, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Astoria, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Battery Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bay Ridge 86th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bayonne, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bayridge, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bensonhurst, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Boylston, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 2

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Broadway, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Brooklyn Belt, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Brunswick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Bulfinch, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Butler, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Carmel, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cash Management, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Central Square, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cherry Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Chevy Chase, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Clarendon, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Clifton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Cobble Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Colonia, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Columbia Heights, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Commack, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Connecticut Avenue, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Court Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 3

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Croton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Danbury, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Davis Square, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dedham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Deer Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dobbs Ferry, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Downtown Crossing, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dupont Circle, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Dupont II, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East Brunswick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East Meadow, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 23, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 31, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 34, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 36, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 41, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 48, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 51, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 4

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI East 59, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 76, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 86, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI East 91, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Englewood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI F Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fairfax, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fenway, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI First Avenue, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Forest Hills, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Fort Lee, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Framingham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Franklin (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Franklin Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Freehold, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Gallery Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Garden City, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Garnersville, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 5

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Georgetown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Germantown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Glendale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Glover, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Grand Central, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Great Neck, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Greenwich, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hartsdale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hawthorne, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Herald, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hicksville, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Highpoint, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hoboken, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Hoboken North, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (CIP), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (DC), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (MD), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 6

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Holdings (NJ), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (PA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Holdings (VA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Huntington, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI International, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Irving Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Jamaica Estates, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Jersey City, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI K Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Larchmont, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lexington (MA), LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lincoln, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Livingston, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Long Beach, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Lynnfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI M Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mahwah, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mamaroneck, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 7

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Market Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Marlboro, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Matawan, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Mercer Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Midwood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Montclair, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Morris Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Murray Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Nanuet, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Natick, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI New Rochelle, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newark, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newbury Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Newton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI No Sweat, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI North Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Norwalk, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Oceanside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 8

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Old Bridge, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Parsippany, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Plainsboro, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Port Jefferson, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Princeton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Princeton North, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Providence Downtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Providence Eastside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Radnor, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ramsey, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Reade Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Rego Park, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Ridgewood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Rodin Place, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Scarsdale, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Seaport, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sheridan, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Silver Spring, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 9

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Smithtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Society Hill, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Soho, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Somers, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Somerset, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Bethesda, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South End, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Park Slope, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI South Station, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Springfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Downtown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Post, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Stamford Rinks, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Staten Island, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sterling, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Sunnyside, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Syosset, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI University Management, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 10

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Varick Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wall Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Waltham, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Washington, Inc.

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Water Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Watertown, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wayland, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wellesley, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Wellington Circle, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Caldwell, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Hartford, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Newton, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Nyack, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West Springfield, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 14, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 16, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 23, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 38, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 11

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI West 41, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 44, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 48, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 52, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 73, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 76, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 80, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 94, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 115th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 125, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI West 145th Street, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westborough, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westport, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Westwood, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Weymouth, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI White Plains City Center, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI White Plains, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Whitestone, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX A

Page 12

	 	 	 
	Name of Assignor	 	Address(es) of Chief Executive Office
	TSI Woburn, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001
	TSI Woodmere, LLC

	 	5 Penn Plaza, 4th Floor

New York, NY 10001

 

 

ANNEX B

to

SECURITY AGREEMENT

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION

(AND WHETHER A REGISTERED ORGANIZATION AND/OR

A TRANSMITTING UTILITY), JURISDICTION OF ORGANIZATION

AND ORGANIZATIONAL IDENTIFICATION NUMBERS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	Town Sports International Holdings, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	3754592
	 	No
	Town Sports International, LLC

	 	Limited Liability Company
	 	Yes
	 	New York
	 	None
	 	No
	TSI 217 Broadway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268991	 	 	No
	TSI Alexandria, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2901743	 	 	No
	TSI Alexandria West, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4330291	 	 	No
	TSI Allston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3899539	 	 	No
	TSI Andover, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269134	 	 	No
	TSI Ardmore, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3387908	 	 	No
	TSI Arthro-Fitness Services, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268994	 	 	No
	TSI Astoria, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268995	 	 	No
	TSI Battery Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268998	 	 	No
	TSI Bay Ridge 86th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269108	 	 	No
	TSI Bayonne, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4536496	 	 	No
	TSI Bayridge, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269001	 	 	No
	TSI Bensonhurst, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4416091	 	 	No
	TSI Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3018449	 	 	No
	TSI Boylston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269330	 	 	No
	TSI Broadway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269002	 	 	No
	TSI Brooklyn Belt, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269004	 	 	No
	TSI Brunswick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4282150	 	 	No
	TSI Bulfinch, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3899536	 	 	No
	TSI Butler, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4239615	 	 	No
	TSI Carmel, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269111	 	 	No
	TSI Cash Management, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269009	 	 	No
	TSI Central Square, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3899543	 	 	No
	TSI Cherry Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3040637	 	 	No
	TSI Chevy Chase, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269632	 	 	No
	TSI Clarendon, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3317876	 	 	No
	TSI Clifton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4195613	 	 	No
	TSI Cobble Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269013	 	 	No

 

 

ANNEX B

Page 2

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Colonia, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928572	 	 	No
	TSI Columbia Heights, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269691	 	 	No
	TSI Commack, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269015	 	 	No
	TSI Connecticut Avenue, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269736	 	 	No
	TSI Court Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269017	 	 	No
	TSI Croton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269019	 	 	No
	TSI Danbury, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269758	 	 	No
	TSI Davis Square, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4160261	 	 	No
	TSI Dedham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4510871	 	 	No
	TSI Deer Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4364946	 	 	No
	TSI Dobbs Ferry, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269114	 	 	No
	TSI Downtown Crossing, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269741	 	 	No
	TSI Dupont Circle, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	2220114	 	 	No
	TSI Dupont II, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	2439444	 	 	No
	TSI East 23, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269027	 	 	No
	TSI East 31, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269030	 	 	No
	TSI East 34, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269032	 	 	No
	TSI East 36, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269035	 	 	No
	TSI East 41, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269039	 	 	No
	TSI East 48, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269115	 	 	No
	TSI East 51, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269041	 	 	No
	TSI East 59, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269047	 	 	No
	TSI East 76, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269049	 	 	No
	TSI East 86, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269119	 	 	No
	TSI East 91, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269051	 	 	No
	TSI East Brunswick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4343405	 	 	No
	TSI East Meadow, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269024	 	 	No
	TSI Englewood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4099792	 	 	No
	TSI F Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269753	 	 	No
	TSI Fairfax, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2951887	 	 	No
	TSI Fenway, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3899546	 	 	No
	TSI First Avenue, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269053	 	 	No
	TSI Forest Hills, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269055	 	 	No
	TSI Fort Lee, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2900457	 	 	No

 

 

ANNEX B

Page 3

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Framingham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269136	 	 	No
	TSI Franklin (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269138	 	 	No
	TSI Franklin Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928574	 	 	No
	TSI Freehold, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3057259	 	 	No
	TSI Gallery Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269770	 	 	No
	TSI Garden City, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269057	 	 	No
	TSI Garnerville, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4376082	 	 	No
	TSI Georgetown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269763	 	 	No
	TSI Germantown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2916539	 	 	No
	TSI Glendale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269128	 	 	No
	TSI Glover, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269240	 	 	No
	TSI Grand Central, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269060	 	 	No
	TSI Great Neck, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269061	 	 	No
	TSI Greenwich, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269761	 	 	No
	TSI Hartsdale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269062	 	 	No
	TSI Hawthorne, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269066	 	 	No
	TSI Herald, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269068	 	 	No
	TSI Hicksville, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4257117	 	 	No
	TSI Highpoint, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3140945	 	 	No
	TSI Hoboken, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3057253	 	 	No
	TSI Hoboken North, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3773429	 	 	No
	TSI Holdings (CIP), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269773	 	 	No
	TSI Holdings (DC), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268598	 	 	No
	TSI Holdings (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268036	 	 	No
	TSI Holdings (MD), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268623	 	 	No
	TSI Holdings (NJ), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3744923	 	 	No
	TSI Holdings (PA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268627	 	 	No
	TSI Holdings (VA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268618	 	 	No
	TSI Huntington, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268974	 	 	No
	TSI International, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	2141083	 	 	No
	TSI Irving Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268978	 	 	No
	TSI Jamaica Estates, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4402223	 	 	No
	TSI Jersey City, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3525625	 	 	No
	TSI K Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269781	 	 	No

 

 

ANNEX B

Page 4

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Larchmont, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268983	 	 	No
	TSI Lexington (MA), LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269142	 	 	No
	TSI Lincoln, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268985	 	 	No
	TSI Livingston, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3305800	 	 	No
	TSI Long Beach, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268987	 	 	No
	TSI Lynnfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269143	 	 	No
	TSI M Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269776	 	 	No
	TSI Mahwah, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2905457	 	 	No
	TSI Mamaroneck, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268989	 	 	No
	TSI Market Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3123380	 	 	No
	TSI Marlboro, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3057264	 	 	No
	TSI Matawan, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3057208	 	 	No
	TSI Mercer Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268990	 	 	No
	TSI Midwood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4268993	 	 	No
	TSI Montclair, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3235308	 	 	No
	TSI Morris Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269130	 	 	No
	TSI Murray Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269000	 	 	No
	TSI Nanuet, LLC

	 	Limited Liability Company
	 	Yes

	 	Delaware
	 	4269005	 	 	No
	TSI Natick, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269786	 	 	No
	TSI New Rochelle, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4290057	 	 	No
	TSI Newark, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3548397	 	 	No
	TSI Newbury Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269793	 	 	No
	TSI Newton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4188428	 	 	No
	TSI No Sweat, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4071998	 	 	No
	TSI North Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3018427	 	 	No
	TSI Norwalk, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269791	 	 	No
	TSI Oceanside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269012	 	 	No
	TSI Old Bridge, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3057213	 	 	No
	TSI Parsippany, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928568	 	 	No
	TSI Plainsboro, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928573	 	 	No
	TSI Port Jefferson, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269018	 	 	No
	TSI Princeton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2750867	 	 	No
	TSI Princeton North, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3946066	 	 	No
	TSI Providence Downtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4411647	 	 	No

 

 

ANNEX B

Page 5

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Providence Eastside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4411648	 	 	No
	TSI Radnor, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4034032	 	 	No
	TSI Ramsey, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3138497	 	 	No
	TSI Reade Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269021	 	 	No
	TSI Rego Park, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269031	 	 	No
	TSI Ridgewood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3386883	 	 	No
	TSI Rodin Place, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3026591	 	 	No
	TSI Scarsdale, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269037	 	 	No
	TSI Seaport, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269040	 	 	No
	TSI Sheridan, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269043	 	 	No
	TSI Silver Spring, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3296686	 	 	No
	TSI Smithtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269048	 	 	No
	TSI Society Hill, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3026597	 	 	No
	TSI Soho, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269052	 	 	No
	TSI Somers, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269058	 	 	No
	TSI Somerset, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928575	 	 	No
	TSI South Bethesda, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3854033	 	 	No
	TSI South End, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269795	 	 	No
	TSI South Park Slope, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269064	 	 	No
	TSI South Station, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269797	 	 	No
	TSI Springfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928570	 	 	No
	TSI Stamford Downtown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269799	 	 	No
	TSI Stamford Post, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269803	 	 	No
	TSI Stamford Rinks, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269807	 	 	No
	TSI Staten Island, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269070	 	 	No
	TSI Sterling, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2978316	 	 	No
	TSI Sunnyside, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4324681	 	 	No
	TSI Syosset, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269074	 	 	No
	TSI University Management, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269811	 	 	No
	TSI Varick Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269076	 	 	No
	TSI Wall Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269078	 	 	No
	TSI Waltham, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3584187	 	 	No
	TSI Washington, Inc.

	 	Corporation
	 	Yes
	 	Delaware
	 	2195425	 	 	No
	TSI Water Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269087	 	 	No

 

 

ANNEX B

Page 6

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Assignor’s	 	 
	 	 	 	 	Registered	 	 	 	Organization	 	 
	 	 	Type of Organization	 	Organization	 	 	 	Identification Number	 	Transmitting
	 	 	(or, if the Assignor is an	 	?	 	Jurisdiction of	 	(or, if none, so	 	Utility?
	Exact Legal Name of Each Assignor	 	Individual, so indicate)	 	(Yes/No)	 	Organization	 	indicate)	 	(Yes/No)
	TSI Watertown, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269336	 	 	No
	TSI Wayland, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4554568	 	 	No
	TSI Wellesley, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269148	 	 	No
	TSI Wellington Circle, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4160262	 	 	No
	TSI West 14, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269093	 	 	No
	TSI West 16, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269096	 	 	No
	TSI West 23, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269098	 	 	No
	TSI West 38, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269038	 	 	No
	TSI West 41, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269045	 	 	No
	TSI West 44, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269054	 	 	No
	TSI West 48, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269067	 	 	No
	TSI West 52, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269073	 	 	No
	TSI West 73, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269077	 	 	No
	TSI West 76, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269080	 	 	No
	TSI West 80, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269085	 	 	No
	TSI West 94, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269086	 	 	No
	TSI West 115th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269131	 	 	No
	TSI West 125, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269090	 	 	No
	TSI West 145th Street, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4239620	 	 	No
	TSI West Caldwell, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	2928566	 	 	No
	TSI West Hartford, LLC

	 	Limited Liability Company
	 	Yes

	 	Delaware
	 	4411640	 	 	No
	TSI West Newton, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269593	 	 	No
	TSI West Nyack, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269089	 	 	No
	TSI West Springfield, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3131927	 	 	No
	TSI Westborough, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4311117	 	 	No
	TSI Westport, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269809	 	 	No
	TSI Westwood, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	3478988	 	 	No
	TSI Weymouth, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269814	 	 	No
	TSI White Plains City Center, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269095	 	 	No
	TSI White Plains, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269100	 	 	No
	TSI Whitestone, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269102	 	 	No
	TSI Woburn, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4411649	 	 	No
	TSI Woodmere, LLC

	 	Limited Liability Company
	 	Yes
	 	Delaware
	 	4269106	 	 	No

 

 

ANNEX C

to

SECURITY AGREEMENT

SCHEDULE OF TRADE AND FICTITIOUS NAMES

The Company and its Subsidiaries operate fitness clubs under the names “New York Sports Clubs”,
“Washington Sports Clubs”, “Boston Sports Club”, and “Philadelphia Sports Clubs” and use the
abbreviations “NYSC”, “WSC”, “BSC” and “PSC”, respectively, generally within an oval logo. Set out
below is a list of the Company and its Subsidiaries and the trade or fictitious name(s) each
operates under:

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	Town Sports International, LLC

	 	None
	TSI 217 Broadway, LLC

	 	NYSC
	TSI Alexandria, LLC

	 	WSC
	TSI Alexandria West, LLC

	 	None
	TSI Allston, LLC

	 	BSC
	TSI Andover, LLC

	 	BSC
	TSI Ardmore, LLC

	 	PSC
	TSI Arthro-Fitness Services, LLC

	 	NYSC
	TSI Astoria, LLC

	 	NYSC
	TSI Battery Park, LLC

	 	NYSC
	TSI Bay Ridge 86th Street, LLC

	 	NYSC
	TSI Bayonne, LLC

	 	NYSC
	TSI Bayridge, LLC

	 	NYSC
	TSI Bensonhurst, LLC

	 	NYSC
	TSI Bethesda, LLC

	 	WSC
	TSI Boylston, LLC

	 	BSC
	TSI Broadway, LLC

	 	NYSC
	TSI Brooklyn Belt, LLC

	 	NYSC
	TSI Brunswick, LLC

	 	NYSC
	TSI Bulfinch, LLC

	 	BSC
	TSI Butler, LLC

	 	NYSC
	TSI Carmel, LLC

	 	NYSC
	TSI Cash Management, LLC

	 	None
	TSI Central Square, LLC

	 	BSC

 

 

ANNEX C

Page 2

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI Cherry Hill, LLC

	 	PSC
	TSI Chevy Chase, LLC

	 	WSC
	TSI Clarendon, LLC

	 	WSC
	TSI Clifton, LLC

	 	NYSC
	TSI Cobble Hill, LLC

	 	NYSC
	TSI Colonia, LLC

	 	NYSC
	TSI Columbia Heights, LLC

	 	WSC
	TSI Commack, LLC

	 	NYSC
	TSI Connecticut Avenue, LLC

	 	WSC
	TSI Court Street, LLC

	 	NYSC
	TSI Croton, LLC

	 	NYSC
	TSI Danbury, LLC

	 	NYSC
	TSI Davis Square, LLC

	 	BSC
	TSI Dedham, LLC

	 	BSC
	TSI Deer Park, LLC

	 	NYSC
	TSI Dobbs Ferry, LLC

	 	NYSC
	TSI Downtown Crossing, LLC

	 	BSC
	TSI Dupont Circle, Inc.

	 	None
	TSI Dupont II, Inc.

	 	None
	TSI East Brunswick, LLC

	 	NYSC
	TSI East Meadow, LLC

	 	NYSC
	TSI East 23, LLC

	 	NYSC
	TSI East 31, LLC

	 	NYSC
	TSI East 34, LLC

	 	NYSC
	TSI East 36, LLC

	 	NYSC
	TSI East 41, LLC

	 	NYSC
	TSI East 48, LLC

	 	NYSC
	TSI East 51, LLC

	 	NYSC
	TSI East 59, LLC

	 	NYSC
	TSI East 76, LLC

	 	NYSC
	TSI East 86, LLC

	 	NYSC

 

 

ANNEX C

Page 3

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI East 91, LLC

	 	NYSC
	TSI Englewood, LLC

	 	NYSC
	TSI F Street, LLC

	 	WSC
	TSI Fairfax, LLC

	 	WSC
	TSI Fenway, LLC

	 	BSC
	TSI First Avenue, LLC

	 	NYSC
	TSI Forest Hills, LLC

	 	NYSC
	TSI Fort Lee, LLC

	 	NYSC
	TSI Framingham, LLC

	 	BSC
	TSI Franklin (MA), LLC

	 	BSC
	TSI Franklin Park, LLC

	 	NYSC
	TSI Freehold, LLC

	 	NYSC
	TSI Gallery Place, LLC

	 	WSC
	TSI Garden City, LLC

	 	NYSC
	TSI Garnerville, LLC

	 	NYSC
	TSI Georgetown, LLC

	 	WSC
	TSI Germantown, LLC

	 	WSC
	TSI Glendale, LLC

	 	NYSC
	TSI Glover, LLC

	 	WSC
	TSI Grand Central, LLC

	 	NYSC
	TSI Great Neck, LLC

	 	NYSC
	TSI Greenwich, LLC

	 	NYSC
	TSI Hartsdale, LLC

	 	NYSC
	TSI Hawthorne, LLC

	 	NYSC
	TSI Herald, LLC

	 	NYSC
	TSI Hicksville, LLC

	 	NYSC
	TSI Highpoint, LLC

	 	PSC
	TSI Hoboken, LLC

	 	NYSC
	TSI Hoboken North, LLC

	 	NYSC
	TSI Holdings (CIP), LLC

	 	None
	TSI Holdings (DC), LLC

	 	None

 

 

ANNEX C

Page 4

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI Holdings (MA), LLC

	 	None
	TSI Holdings (MD), LLC

	 	None
	TSI Holdings (NJ), LLC

	 	None
	TSI Holdings (PA), LLC

	 	None
	TSI Holdings (VA), LLC

	 	None
	TSI Huntington, LLC

	 	NYSC
	TSI International, Inc.

	 	None
	TSI Irving Place, LLC

	 	NYSC
	TSI Jamaica Estates, LLC

	 	NYSC
	TSI Jersey City, LLC

	 	NYSC
	TSI K Street, LLC

	 	WSC
	TSI Larchmont, LLC

	 	NYSC
	TSI Lexington (MA), LLC

	 	BSC
	TSI Lincoln, LLC

	 	NYSC
	TSI Livingston, LLC

	 	NYSC
	TSI Long Beach, LLC

	 	NYSC
	TSI Lynnfield, LLC

	 	BSC
	TSI M Street, LLC

	 	WSC
	TSI Mahwah, LLC

	 	NYSC
	TSI Mamaroneck, LLC

	 	NYSC
	TSI Market Street, LLC

	 	PSC
	TSI Marlboro, LLC

	 	NYSC
	TSI Matawan, LLC

	 	NYSC
	TSI Mercer Street, LLC

	 	NYSC
	TSI Midwood, LLC

	 	NYSC
	TSI Montclair, LLC

	 	NYSC
	TSI Morris Park, LLC

	 	NYSC
	TSI Murray Hill, LLC

	 	NYSC
	TSI Nanuet, LLC

	 	NYSC
	TSI Natick, LLC

	 	BSC
	TSI New Rochelle, LLC

	 	NYSC

 

 

ANNEX C

Page 5

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI Newark, LLC

	 	NYSC
	TSI Newbury Street, LLC

	 	BSC
	TSI Newton, LLC

	 	BSC
	TSI No Sweat, LLC

	 	No Sweat
	TSI North Bethesda, LLC

	 	WSC
	TSI Norwalk, LLC

	 	NYSC
	TSI Oceanside, LLC

	 	NYSC
	TSI Old Bridge, LLC

	 	NYSC
	TSI Parsippany, LLC

	 	NYSC
	TSI Plainsboro, LLC

	 	NYSC
	TSI Port Jefferson, LLC

	 	NYSC
	TSI Princeton, LLC

	 	NYSC
	TSI Princeton North, LLC

	 	NYSC
	TSI Providence Downtown, LLC

	 	BSC I
	TSI Providence Eastside, LLC

	 	BSC II
	TSI Radnor, LLC

	 	PSC
	TSI Ramsey, LLC

	 	NYSC
	TSI Reade Street, LLC

	 	NYSC
	TSI Rego Park, LLC

	 	NYSC
	TSI Ridgewood, LLC

	 	NYSC
	TSI Rodin Place, LLC

	 	PSC
	TSI Scarsdale, LLC

	 	NYSC
	TSI Seaport, LLC

	 	NYSC
	TSI Sheridan, LLC

	 	NYSC
	TSI Silver Spring, LLC

	 	WSC
	TSI Smithtown, LLC

	 	NYSC
	TSI Society Hill, LLC

	 	PSC
	TSI Soho, LLC

	 	NYSC
	TSI Somers, LLC

	 	NYSC
	TSI Somerset, LLC

	 	NYSC
	TSI South Bethesda, LLC

	 	WSC

 

 

ANNEX C

Page 6

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI South End, LLC

	 	BSC
	TSI South Park Slope, LLC

	 	NYSC
	TSI South Station, LLC

	 	BSC
	TSI Springfield, LLC

	 	NYSC
	TSI Stamford Downtown, LLC

	 	NYSC
	TSI Stamford Post, LLC

	 	NYSC
	TSI Stamford Rinks, LLC

	 	NYSC
	TSI Staten Island, LLC

	 	NYSC
	TSI Sterling, LLC

	 	WSC
	TSI Sunnyside, LLC

	 	NYSC
	TSI Syosset, LLC

	 	NYSC
	TSI University Management, LLC

	 	None
	TSI Varick Street, LLC

	 	NYSC
	TSI Wall Street, LLC

	 	NYSC
	TSI Waltham, LLC

	 	BSC
	TSI Washington, Inc.

	 	WSC
	TSI Water Street, LLC

	 	NYSC
	TSI Watertown, LLC

	 	BSC
	TSI Wayland, LLC

	 	None
	TSI Wellesley, LLC

	 	BSC
	TSI Wellington Circle, LLC

	 	BSC
	TSI West Caldwell, LLC

	 	NYSC
	TSI West Hartford, LLC

	 	NYSC
	TSI West Newton, LLC

	 	BSC
	TSI West Nyack, LLC

	 	NYSC
	TSI West Springfield, LLC

	 	WSC
	TSI West 14, LLC

	 	NYSC
	TSI West 16, LLC

	 	NYSC
	TSI West 23, LLC

	 	NYSC
	TSI West 38, LLC

	 	NYSC
	TSI West 41, LLC

	 	NYSC

 

 

ANNEX C

Page 7

	 	 	 
	Name of Assignor	 	Trade and/or Fictitious Names
	TSI West 44, LLC

	 	NYSC
	TSI West 48, LLC

	 	NYSC
	TSI West 52, LLC

	 	NYSC
	TSI West 73, LLC

	 	NYSC
	TSI West 76, LLC

	 	NYSC
	TSI West 80, LLC

	 	NYSC
	TSI West 94, LLC

	 	NYSC
	TSI West 115th Street, LLC

	 	NYSC
	TSI West 125, LLC

	 	NYSC
	TSI West 145th Street, LLC

	 	NYSC
	TSI Westport, LLC

	 	NYSC
	TSI Westborough, LLC

	 	BSC
	TSI Westwood, LLC

	 	NYSC
	TSI Weymouth, LLC

	 	BSC
	TSI White Plains City Center, LLC

	 	NYSC
	TSI White Plains, LLC

	 	NYSC
	TSI Whitestone, LLC

	 	NYSC
	TSI Woburn, LLC

	 	BSC
	TSI Woodmere, LLC

	 	NYSC

 

 

ANNEX D

to

SECURITY AGREEMENT

DESCRIPTION OF COMMERCIAL TORT CLAIMS

	 	 	 
	Name of Assignor	 	Description of Commercial Tort Claims
	Town Sports International, LLC

	 	On September 22, 2009, in an action styled
Town Sports International, LLC v. Ajilon
Solutions, a division of Ajilon
Professional Staffing LLC (Supreme Court of
the State of New York, New York County,
602911-09), Town Sports International, LLC
(“TSI”) brought an action in the Supreme
Court of the State of New York, New York
County, against Ajilon for breach of
contract, conversion, and replevin,
seeking, among other things, money damages
against Ajilon for breaching its agreement
to design and deliver to TSI a new sports
club enterprise management system known as
GIMS, including failing to provide copies
of the computer source code written for
GIMS, related documentation, properly
identified requirements documents and other
property owned and licensed by TSI.
Subsequently, on October 14, 2009, Ajilon
brought a counterclaim against TSI
alleging, among other things, failure to
pay outstanding invoices in the amount of
$2.9 million. On March 7, 2011, TSI amended
its complaint to add claims against Ajilon
for fraud, negligent misrepresentation, and
breach of the covenant of good faith and
fair dealing.

 

 

ANNEX E

to

SECURITY AGREEMENT

SCHEDULE OF MARKS AND APPLICATIONS;

INTERNET DOMAIN NAME REGISTRATIONS

	 	1.	 	Marks and Applications: None.
	 
	 	2.	 	Internet Domain Name Registrations:

	 	 	 	 	 	 	 	 	 
	Domain	 	Date Created	 	Date Expires	 	Registrant	 	Vendor
	ACTIVTRAXPRO.COM

	 	06/20/2007
	 	06/202014
	 	Doreen Sussman
	 	Domain Registry of
America
	AMILLIONREASONSTOJOIN.COM

	 	01/3/2001
	 	01/3/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	ATLANTASPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	BOSTONSPORTSCLUBS.CO

	 	07/29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	BOSTONSPORTSCLUB.COM

	 	05/14/1998
	 	05/13/2013
	 	Doreen Sussman
	 	Domain Registry of
Americas
	BOSTONSPORTSCLUBS.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	BOSTONSPORTSCLUBS.COM

	 	05/14/1998
	 	05/13/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	BOSTONSPORTSCLUBSSUCK.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	BOSTONSPORTSCLUBSSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	BSC.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	BSCSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	CHICAGOSPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	COMPANIESGETFIT.COM

	 	08/23/2004
	 	08/23/2011
	 	Doreen Sussman
	 	Domain Registry of
America
	DENVERSPORTSCLUB.COM

	 	12/31/2002
	 	12/31/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINBSC.COM

	 	03/24/2008
	 	03/24/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINMYSPORTSCLUB.COM

	 	07/24/2008
	 	07/24/2017
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINMYSPORTSCLUBS.COM

	 	07/24/2008
	 	07/24/2017
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINNYSC.COM

	 	03/24/2008
	 	03/24/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINPSC.COM

	 	03/24/2008
	 	03/24/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	JOINWSC.COM

	 	03/24/2008
	 	03/24/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	KUBYGETSFIT.COM

	 	02/13/2006
	 	02/13/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	MIAMISPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	MYREASONTOJOIN.COM

	 	01/3/2001
	 	01/3/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	MYSPORTCLUB.CO

	 	07/29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	MYSPORTSCLUB.CO

	 	07/29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	MYSPORTSCLUBS.COM

	 	06/27/2000
	 	06/27/2018
	 	Doreen Sussman
	 	Domain Registry of
America
	MYSPORTSCLUBS.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	MYSPORTSCO.COM

	 	07/17/2001
	 	07/17/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	MYSPORTSCOMPANY.COM

	 	07/18/2001
	 	07/18/2013
	 	Doreen Sussman
	 	Domain Registry of
America

 

 

Exhibit E

Page 2

	 	 	 	 	 	 	 	 	 
	Domain	 	Date Created	 	Date Expires	 	Registrant	 	Vendor
	MYSPORTSCOMPANY.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	MYTSISUMMIT.COM

	 	02/15/2007
	 	02/15/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	MYTSISUMMIT.INFO

	 	02/15/2007
	 	02/15/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NEWYORKSPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry

Of America
	NEWYORKSPORTSCLUBS.CO

	 	07/29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	NEWYORKSPORTSCLUBS.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	NEWYORKSPORTSCLUBSSUCK.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NEWYORKSPORTSCLUBSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NOSWEATFIT.BIZ

	 	04/20/2005
	 	04/19/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NOSWEATFIT.COM

	 	04/20/2005
	 	04/20/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NOSWEATFIT.NET

	 	04/20/2005
	 	04/20/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NOSWEATFITNESS.BIZ

	 	04/20/2005
	 	04/19/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NOSWEATFITNESS.NET

	 	04/20/2005
	 	04/20/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NYSC.COM

	 	12/02/1995
	 	12/01/2014
	 	Doreen Sussman
	 	Domain Registry of
America
	NYSC.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	NYSCSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	NYSPORTCLUB.COM

	 	10/19/2001
	 	10/19/2013
	 	Francine Hancock
	 	Domain Registry of
America
	PHILADELPHIASPORTS.COM

	 	05/14/1998
	 	05/13/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	PHILADELPHIASPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	PHILADELPHIASPORTSCLUBS.CO

	 	07./29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	PHILADELPHIASPORTSCLUBS.COM

	 	01/18/2005
	 	01/18/2016
	 	Doreen Sussman
	 	Domain Registry of
America
	PHILADELPHIASPORTSCLUBS.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	PORTLANDSPORTSCLUB.COM

	 	12/31/2002
	 	12/31/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	POUNDSOFFCLUB.COM

	 	04/26/2006
	 	04/26/2015
	 	Doreen Sussman
	 	Domain Registry of
America
	PSC.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	PSCSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	ROCKTHESCALES.COM

	 	11/22/2006
	 	11/22/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SANFRANCISCOSPORTSCLUB.COM

	 	12/31/2002
	 	12/31/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	SEATTLESPORTSCLUB.COM

	 	12/31/2002
	 	12/31/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTCLUBNETWORK.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTSCLUBNETWORK.COM

	 	03/20/2002
	 	03/20/2014
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTS-CLUB-NETWORK.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTSCLUBSFORKIDS.COM

	 	10/31/2000
	 	10/31/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTSCLUBSNETWORK.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTS-CLUBS-NETWORK.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	SPORTSCLUBSNETWORKS.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America

 

 

Exhibit E

Page 3

	 	 	 	 	 	 	 	 	 
	Domain	 	Date Created	 	Date Expires	 	Registrant	 	Vendor
	SPORTS-CLUBS-NETWORKS.COM

	 	03/20/2002
	 	03/20/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	TORONTOSPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	TOWN-SPORTS.COM

	 	05/27/1998
	 	05/26/2012
	 	Town Sports International
	 	Network Solutions,

LLC
	TOWNSPORTSINTL.COM

	 	05/27/1998
	 	05/26/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	TSAG.COM

	 	02/20/1997
	 	02/21/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	WASHINGTONSPORTS.COM

	 	08/3/1996
	 	08/2/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	WASHINGTONSPORTSCLUB.COM

	 	03/10/2000
	 	03/10/2013
	 	Doreen Sussman
	 	Domain Registry of
America
	WASHINGTONSPORTSCLUBS.CO

	 	07/29/2010
	 	07/28/2011
	 	Doreen Sussman
	 	GoDaddy.com, Inc.
	WASHINGTONSPORTSCLUBS.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	WASHINGTONSPORTSSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	WASHINGTONSPORTSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America
	WSC.MOBI

	 	09/26/2006
	 	09/26/2011
	 	Doreen Sussman
	 	Dotster Inc.
	WSCSUCKS.COM

	 	10/15/1998
	 	10/14/2012
	 	Doreen Sussman
	 	Domain Registry of
America

 

 

ANNEX F

to

SECURITY AGREEMENT

SCHEDULE OF PATENTS

None.

 

 

ANNEX G

to

SECURITY AGREEMENT

SCHEDULE OF COPYRIGHTS

None.

 

 

ANNEX H

to

SECURITY AGREEMENT

GRANT OF SECURITY INTEREST

IN UNITED STATES TRADEMARKS

          FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of which are hereby acknowledged,
[Name of Grantor], a __________ _________ (the “Grantor”) with principal offices at
____________________________, hereby grants to Deutsche Bank Trust Company Americas, as Collateral
Agent, with principal offices at 60 Wall Street, New York, New York 10005 (the “Grantee”),
a continuing security interest in (i) all of the Grantor’s right, title and interest in and to the
United States trademarks, trademark registrations and trademark applications (the “Marks”)
set forth on Schedule A attached hereto, (ii) all Proceeds (as such term is defined in the Security
Agreement referred to below) and products of the Marks, (iii) the goodwill of the businesses with
which the Marks are associated and (iv) all causes of action arising prior to or after the date
hereof for infringement of any of the Marks or unfair competition regarding the same.

          THIS GRANT is made to secure the satisfactory performance and payment of all the Obligations
of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other
assignors from time to time party thereto and the Grantee, dated as of May 11, 2011 (as amended,
modified, restated and/or supplemented from time to time, the “Security Agreement”). Upon
the occurrence of the Termination Date (as defined in the Security Agreement), the Grantee shall
execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security
interest in the Marks acquired under this Grant.

          Notwithstanding anything herein to the contrary, no security interest is granted in
“intent-to-use” applications for registration of a Mark filed pursuant to Section 1(b) of the
Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d)
of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the

 

 

Annex H

Page 2

Lanham Act with respect thereto, to the extent that, and during the period in which, the grant
of a security interest therein would impair the validity or enforceability of any registration that
issues from such intent-to-use application under applicable federal law.

          This Grant has been granted in conjunction with the security interest granted to the Grantee
under the Security Agreement. The rights and remedies of the Grantee with respect to the security
interest granted herein are as set forth in the Security Agreement, all terms and provisions of
which are incorporated herein by reference. In the event that any provisions of this Grant are
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall
govern.

*       *       *

 

 

Annex H

Page 3

          IN WITNESS WHEREOF, the undersigned have executed this Grant as of the ____ day of
____________, ___.

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

       as Collateral Agent and Grantee

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Annex H

Page 4

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss.:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this ____ day of _________, ____, before me personally came ________ ________________ who,
being by me duly sworn, did state as follows: that [s]he is ______________ of [Name of Grantor],
that [s]he is authorized to execute the foregoing Grant on behalf of said ____________ and that
[s]he did so by authority of the [Board of Directors] of said ___________.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this ____ day of _________, ____, before me personally came ________ _____________________
who, being by me duly sworn, did state as follows: that [s]he is __________________ of Deutsche
Bank Trust Company Americas, that [s]he is authorized to execute the foregoing Grant on behalf of
said corporation and that [s]he did so by authority of the Board of Directors of said corporation.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

 

 

SCHEDULE A

	 	 	 	 	 
	MARK	 	REG. NO.	 	REG. DATE
	 
	 	 	 	 

 

 

ANNEX I

to

SECURITY AGREEMENT

GRANT OF SECURITY INTEREST

IN UNITED STATES PATENTS

          FOR GOOD AND VALUABLE CONSIDERATION, receipt and sufficiency of which are hereby acknowledged,
[Name of Grantor], a __________ _________ (the “Grantor”) with principal offices at
____________________________, hereby grants to Deutsche Bank Trust Company Americas, as Collateral
Agent, with principal offices at 60 Wall Street, New York, New York 10005 (the “Grantee”),
a continuing security interest in (i) all of the Grantor’s rights, title and interest in and to the
United States patents (the “Patents”) set forth on Schedule A attached hereto, in each case
together with (ii) all Proceeds (as such term is defined in the Security Agreement referred to
below) and products of the Patents, and (iii) all causes of action arising prior to or after the
date hereof for infringement of any of the Patents or unfair competition regarding the same.

          THIS GRANT is made to secure the satisfactory performance and payment of all the Obligations
of the Grantor, as such term is defined in the Security Agreement among the Grantor, the other
assignors from time to time party thereto and the Grantee, dated as of May 11, 2011 (as amended,
modified, restated and/or supplemented from time to time, the “Security Agreement”). Upon
the occurrence of the Termination Date (as defined in the Security Agreement), the Grantee shall
execute, acknowledge, and deliver to the Grantor an instrument in writing releasing the security
interest in the Patents acquired under this Grant.

          This Grant has been granted in conjunction with the security interest granted to the Grantee
under the Security Agreement. The rights and remedies of the Grantee with respect to the security
interest granted herein are as set forth in the Security Agreement, all terms and provisions of
which are incorporated herein by reference. In the event that any provisions of this Grant are
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall
govern.

 

 

Annex I

Page 3

          IN WITNESS WHEREOF, the undersigned have executed this Grant as of the ____ day of
____________, ___.

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

       as Collateral Agent and Grantee

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Annex I

Page 4

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this ____ day of _________, ____, before me personally came ________ ________________ who,
being by me duly sworn, did state as follows: that [s]he is ______________ of [Name of Grantor],
that [s]he is authorized to execute the foregoing Grant on behalf of said ____________ and that
[s]he did so by authority of the Board of Directors of said ___________.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this ____ day of _________, ____, before me personally came ________ _____________________
who, being by me duly sworn, did state as follows: that [s]he is __________________ of Deutsche
Bank Trust Company Americas, that [s]he is authorized to execute the foregoing Grant on behalf of
said corporation and that [s]he did so by authority of the Board of Directors of said corporation.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

 

 

SCHEDULE A

	 	 	 	 	 
	PATENT	 	PATENT NO.	 	ISSUE DATE
	 
	 	 	 	 

 

 

ANNEX J

to

SECURITY AGREEMENT

GRANT OF SECURITY INTEREST

IN UNITED STATES COPYRIGHTS

          WHEREAS, [Name of Grantor], a _______________ _____________ (the “Grantor”), having
its chief executive office at _____, _____, is the owner of all right, title and interest in and to the United States
copyrights and associated United States copyright registrations and applications for registration
set forth in Schedule A attached hereto;

          WHEREAS, DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Agent, having its principal
offices at 60 Wall Street, New York, New York 10005 (the “Grantee”), desires to acquire a
security interest in said copyrights and copyright registrations and applications therefor; and

          WHEREAS, the Grantor is willing to grant to the Grantee a security interest in and lien upon
the copyrights and copyright registrations and applications therefor described above.

          NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, and subject to the terms and conditions of the Security Agreement, dated as of May
11, 2011, made by the Grantor, the other assignors from time to time party thereto and the Grantee
(as amended, modified, restated and/or supplemented from time to time, the “Security
Agreement”), the Grantor hereby assigns to the Grantee as collateral security, and grants to
the Grantee a continuing security interest in, the copyrights and copyright registrations and
applications therefor set forth in Schedule A attached hereto.

     Upon the occurrence of the Termination Date (as defined in the Security Agreement), the
Grantee shall execute, acknowledge, and deliver to the Grantor an instrument in writing releasing
the security interest in the Copyrights acquired under this Grant.

     This Grant has been granted in conjunction with the security interest granted to the Grantee
under the Security Agreement. The rights and remedies of the Grantee with respect to the security
interest granted herein are as set forth in the Security Agreement, all terms and provisions of
which are incorporated herein by reference. In the event that any provisions of this Grant are
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall
govern.

*       *      *

 

 

Annex J

Page 2

          EXECUTED AT __________________, ________________ the ____ day of ____________, ___.

	 	 	 	 	 
	 	[NAME OF GRANTOR], Grantor

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,

       as Collateral Agent and Grantee

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Annex J

Page 3

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this __ day of _________, ____, before me personally came ___________ ______________, who
being duly sworn, did depose and say that [s]he is ___________________ of [Name of Grantor], that
[s]he is authorized to execute the foregoing Grant on behalf of said corporation and that [s]he did
so by authority of the Board of Directors of said corporation.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

	 	 	 	 	 	 	 	 	 

	STATE OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 
	 	 	
	 

	 	 

	 	 	
)	 	 	ss.:
	COUNTY OF

	 	 	 	 	)	 	 	 
	 

	 	 

	 	 	 	 	 	 

          On this ____ day of _________, ____, before me personally came ________ __________________
who, being by me duly sworn, did state as follows: that [s]he is __________________ of Deutsche
Bank Trust Company Americas, that [s]he is authorized to execute the foregoing Grant on behalf of
said __________ and that [s]he did so by authority of the Board of Directors of said ____________.

	 	 	 	 	 

	 

	 	 

Notary Public

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