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EX-32.2 - EXHIBIT 32.2 - PVH CORP. /DE/ex32220162q10q.htm
EX-32.1 - EXHIBIT 32.1 - PVH CORP. /DE/ex32120162q10q.htm
EX-31.2 - EXHIBIT 31.2 - PVH CORP. /DE/ex31220162q10q.htm
EX-31.1 - EXHIBIT 31.1 - PVH CORP. /DE/ex31120162q10q.htm
EX-10.2 - EXHIBIT 10.2 - PVH CORP. /DE/ex10220162q10q.htm
10-Q - 10-Q - PVH CORP. /DE/a10q2q2016.htm
Execution Version


SECOND AMENDMENT TO CREDIT AGREEMENT
This SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of May 19, 2016 (this “Amendment”), is entered into by and among PVH Corp., a Delaware corporation (the “U.S. Borrower”), PVH B.V. (formerly known as Tommy Hilfiger B.V.), a Dutch private limited liability company with its corporate seat in Amsterdam, The Netherlands (the “European Borrower” and, together with the U.S. Borrower, the “Borrowers”), the Guarantors (as defined in the Existing Credit Agreement (as defined below)) listed on the signature pages hereto, each Lender party hereto (including the Incremental Tranche A Term Lenders and any Replacement Lenders (each, as defined below)), each Issuing Bank party hereto, the Swing Line Lender party hereto and Barclays Bank PLC (“Barclays”), as administrative agent (in such capacity, the “Administrative Agent”) and collateral agent (in such capacity, the “Collateral Agent”) under the Existing Credit Agreement.
RECITALS
WHEREAS, the Borrowers and the Guarantors have entered into that certain Amended and Restated Credit and Guaranty Agreement, dated as of March 21, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time immediately prior to the date hereof, the “Existing Credit Agreement”), with the Lenders from time to time party thereto, the Administrative Agent, the Collateral Agent and the other parties referred to therein;
WHEREAS, the Borrowers have requested that the Existing Credit Agreement be amended as set forth in Exhibit A-1 hereto (the “Amended Credit Agreement”; except as otherwise provided herein, all capitalized terms used but not defined herein shall have the meanings ascribed to such terms therein) so as to, among other things, (i)  extend the Revolving Commitment Termination Date and the Tranche A Term Loan Maturity Date, (ii) increase the aggregate principal amount of Tranche A Term Loans by an amount not to exceed the amount of Tranche B Term Loans outstanding on the Effective Date (immediately prior to effectiveness of this Amendment) (such additional Tranche A Term Loans, the “Incremental Tranche A Term Loans”) and (iii) increase the U.S. Swing Line Sublimit by up to $25,000,000 and the Canadian Swing Line Sublimit by up to $15,000,000;
WHEREAS, each Lender that executes and delivers a signature page to this Amendment hereby agrees to the terms and conditions of this Amendment (each such Lender that has executed and delivered a signature page to this Amendment on or prior to 5:00 p.m. New York City time on May 13, 2016 (such time, the “Consent Deadline” and each such Lender, a “Consenting Lender”);
WHEREAS, the Lenders party hereto constitute (a) at least the Required Lenders under the Existing Credit Agreement, calculated after giving effect to the funding of the Incremental Tranche A Term Commitments and the repayment in full of the Tranche B Term Loans with the proceeds thereof and (b) all the Lenders holding Tranche A Term Loans and Revolving Commitments after giving effect to the transactions described in Section 2(b) hereof and including all Incremental Tranche A Term Lenders;
WHEREAS, each Lender holding Revolving Commitments, Revolving Loans or Tranche A Term Loans that does not execute and deliver a signature page to this Amendment



on or prior to the Consent Deadline (each, a “Non-Consenting Lender”) shall assign, all of its interest, rights and obligations under the Existing Credit Agreement with respect to its Revolving Commitments, Revolving Loans or Tranche A Term Loans, as applicable to a Replacement Lender pursuant to Section 2.23 of the Existing Credit Agreement and Section 2(c) of this Amendment;
WHEREAS, each Person party hereto that elects to make Incremental Tranche A Term Loans on its signature page hereto (each, an “Incremental Tranche A Term Lender”) severally (and not jointly) agrees to extend Incremental Tranche A Term Loans on the Effective Date (as defined in Section 3 of this Amendment) in an aggregate principal amount not to exceed the amount of Incremental Tranche A Term Loans that it requested to make as set forth on such signature page (such amount, its “Incremental Tranche A Term Commitment”); and
WHEREAS, the aggregate proceeds of the Incremental Tranche A Term Loans shall be used by the U.S. Borrower to prepay an equivalent portion of the Tranche B Term Loans on the Effective Date.
NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1    Amendment to Existing Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 3 of this Amendment, on the Effective Date:
(a)    The Existing Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the underlined text (indicated textually in the same manner as the following example: underlined text) as set forth in the change pages of the Existing Credit Agreement attached as Exhibit A-1 hereto;
(b)    Schedules 1.01(a), 1.01(c), 6.01, 6.02, 6.05, 6.06 and 6.11 to the Existing Credit Agreement shall be amended and restated into the form of schedules attached hereto as Exhibit A-2;
(c)    Schedule 1.01(b) to the Existing Credit Agreement shall be deleted in its entirety; and
(d)    Any Schedule to the Existing Credit Agreement not amended pursuant to clause (b) above or deleted pursuant to clause (c) above shall remain in full force and effect.
SECTION 2    Allocations, Reallocations and Incremental Term Loans.
(a)    Each Incremental Tranche A Term Lender agrees, severally and not jointly, to make Incremental Tranche A Term Loans to the U.S. Borrower on the Effective Date, as set forth in Section 2.01(a) of the Amended Credit Agreement, in an amount to be determined by the Administrative Agent, notified to such Incremental Tranche A Term Lender prior to the Effective Date and as and set forth on Schedule 1.01(a) to the Amended Credit Agreement (but in any event not to exceed such Incremental Tranche A Term Lender’s Incremental Tranche A Term Commitment). The Administrative Agent shall notify each Tranche A Term Lender that

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is a Consenting Lender with a request to purchase an allocation of Incremental Tranche A Term Loans after the Effective Date as set forth on its signature page hereto of the amount of such Incremental Tranche A Term Loan so allocated to it (but in any event, not to exceed such Lender’s requested allocation set forth on such signature page).
(b)    The Borrower Representative hereby gives written notice to the Administrative Agent and each Lender pursuant to (and in accordance with) Section 2.23 of the Existing Credit Agreement that it requests to have each Non-Consenting Lender assign its Revolving Commitments, Revolving Loans and Tranche A Term Loans to one or more Lenders party hereto set forth on Exhibit C hereto who agree to replace such Non-Consenting Lenders (each such Lender a “Replacement Lender”). Each Replacement Lender shall, prior to the effectiveness of the amendments set forth herein, purchase the Revolving Commitments, the Revolving Loans and the Tranche A Term Loans, as applicable, of any such Non-Consenting Lender, in each case, in accordance with Section 2.23 and Section 10.06 of the Existing Credit Agreement in an aggregate principal amount equal to the amount set forth opposite such Lender’s name on Exhibit C hereto. Payment for the purchase of such Non-Consenting Lender’s Revolving Commitments, Revolving Loans and Tranche A Term Loans shall be made by the applicable Replacement Lender to each Non-Consenting Lender on the Effective Date and (without limitation of the right of the Replacement Lender to require the further execution of an Assignment Agreement) the receipt of such payment by such Non-Consenting Lender shall be deemed to effectuate the consummation of such purchase option and assignment and the Administrative Agent shall reflect such assignment in the Register. Each Replacement Lender by its signature hereto consents to this Amendment with respect to such purchased Revolving Commitments, Revolving Loans and Tranche A Term Loans, in each case, effective at the time of such assignment. Subject to the return by each Non-Consenting Lender of its Revolving Note or Tranche A Term Loan Note (in each case, if any) to the Administrative Agent for cancellation, the Borrowers shall, if requested by any Replacement Lender, issue and deliver a new Revolving Note, and/or Tranche A Term Loan Note to such Replacement Lender (or its designee) in accordance with the terms of Section 10.06(f) of the Existing Credit Agreement.
(c)    Each Lender with Tranche A Term Loans agrees, severally and not jointly, to purchase Tranche A Term Loans from, or assign Tranche A Term Loans to, the Administrative Agent, in each case in an amount determined by the Administrative Agent (and notified to such Lender prior to the Effective Date) to be necessary in order that, after giving effect to any assignments of Tranche A Term Loans by Non-Consenting Lenders, any Incremental Tranche A Term Loans made pursuant to Section 2(a) of this Amendment and all such assignments and purchases of Tranche A Term Loans described in this Section 2(c), the Tranche A Term Loans will be held by the applicable Lenders ratably in accordance with their Tranche A Term Loan Exposure. The Incremental Tranche A Term Loans shall be treated as Tranche A Term Loans for all purposes under the Amended Credit Agreement, including, without limitation, with respect to maturity, prepayments, repayments, interest rate and other economic terms. Notwithstanding anything in the Amended Credit Agreement to the contrary, the initial Interest Period with respect to the Incremental Tranche A Term Loans shall commence on the Effective Date and end on the date(s) necessary (as determined by the Administrative Agent) to ensure that all such Incremental Tranche A Term Loans are included in each Tranche A Term Loan, outstanding, on a pro rata basis. The Administrative Agent is hereby authorized to take all actions as may be reasonably necessary to ensure that all such Incremental Tranche A Term Loans are included in each Tranche A Term Loan outstanding, on a pro rata basis and the

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Administrative Agent shall be authorized to mark the Register accordingly to reflect the amendments and adjustments set forth herein. The interest rate with respect to the Incremental Tranche A Term Loans shall be identical to the interest rate on the Tranche A Term Loans under the Amended Credit Agreement and the Incremental Tranche A Term Loans shall amortize as set forth in Section 2.12(a) of the Amended Credit Agreement.
(d)    Notwithstanding anything herein or in the Existing Credit Agreement to the contrary, (i) the Lenders party hereto waive the payment of any compensation required to be paid pursuant to Section 2.18 of the Existing Credit Agreement (to the extent any right to such compensation arises in connection with this Amendment and the transactions contemplated hereby, including, for the avoidance of doubt, Section 2(d)(ii) of this Amendment) and (ii) the Interest Periods in effect immediately prior to the Effective Date shall remain in effect with respect to Loans outstanding immediately prior to the Effective Date (or if new Interest Periods are entered into in connection with the Effective Date with respect to such Loans outstanding immediately prior to the Effective Date, the end dates of such new Interest Periods shall be the same as the Interest Period end dates with respect to such Loans immediately prior to the Effective Date).
SECTION 3    Conditions to Effectiveness. This Amendment shall become effective on and as of the first Business Day when the following conditions have been satisfied (the “Effective Date”):
(a)    The Administrative Agent shall have received counterparts (or written evidence satisfactory to the Administrative Agent (which may include a facsimile or other electronic transmission) that such party has signed a counterpart) of (1) this Amendment duly executed by (i) each Loan Party, (ii) the Administrative Agent, (iii) the Collateral Agent, (iii) the Swing Line Lender, (iv) each Issuing Bank, (v) the Lenders constituting at least the Required Lenders under the Existing Credit Agreement, calculated after giving effect to the funding of the Incremental Tranche A Term Commitments and the repayment in full of the Tranche B Term Loans with the proceeds thereof and (vi) the Lenders constituting all of the Revolving Lenders and all of the Lenders holding Tranche A Term Loans (in each case after giving effect to the transactions described in Section 2(b) hereof and including all Incremental Tranche A Term Lenders) and (2) a joinder agreement to the CK Intercreditor Agreement duly executed by the Collateral Agent.
(b)    The Administrative Agent shall have received (in each case, executed and delivered by each applicable Loan Party) with respect to each existing Mortgage: (a) if advisable to preserve the perfection and priority of the Collateral Agent’s security interest granted in the applicable Mortgaged Property, a modification to each existing Mortgage (each a “Mortgage Modification”), duly executed and acknowledged by each Loan Party that is the owner of or holder of any interest in the applicable Mortgaged Property giving effect to the amendment of the Existing Credit Agreement as contemplated hereby, and otherwise in form for recording in the recording office of the applicable political subdivision where such Mortgaged Property is situated, (b) a date-down endorsement or other such modification endorsement reasonably acceptable to the Collateral Agent in respect of each Title Policy currently applicable to any such Mortgage and (c) a completed “Life of Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property on which a “Building” (as defined in 12 CFR Chapter III, Section 339.2) is located and if any Mortgaged

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Property is located in a flood zone as indicated by the “Life of Loan” Federal Emergency Management Agency Standard Flood Hazard Determination, evidence of a policy of flood insurance for such Mortgaged Property written in an amount not less than the outstanding principal amount of the indebtedness secured by such Mortgage that is reasonably allocable to such real property or the maximum limit of coverage made available with respect to the particular type of property under the National Flood Insurance Act of 1968, whichever is less, and which policy has a term ending not later than the maturity of the Indebtedness secured by such Mortgage.
(c)    The aggregate proceeds of the Incremental Tranche A Term Loans shall, substantially simultaneously with the effectiveness of this Amendment, be used by the U.S. Borrower to prepay an equivalent portion of the Tranche B Term Loans.
(d)    Each applicable Replacement Lender shall have, immediately prior to the effectiveness of this Amendment, paid to each applicable Non-Consenting Lender all amounts required to be paid by such Replacement Lender pursuant to clause (1) of the first proviso in Section 2.23 of the Existing Credit Agreement and the applicable Borrower shall have paid to each Non-Consenting Lender all amounts required to be paid by such Borrower pursuant to clause (2) of the first proviso in Section 2.23 of the Existing Credit Agreement, in each case in order to give effect to the transaction contemplated by Section 2(b) of this Amendment.
(e)    The U.S. Borrower shall have paid all fees and reasonable expenses (including, without limitation, legal fees and expenses) of the Lead Arrangers, the Administrative Agent and the Lenders as and to the extent required pursuant to the terms of the Engagement Letter and invoiced to the U.S. Borrower at least two Business Days prior to the Effective Date.
(f)    The Administrative Agent shall have received originally executed copies of the favorable written opinions of Wachtell, Lipton, Rosen & Katz, as New York counsel to the Loan Parties, Potter Anderson & Corroon LLP, as Delaware counsel to the Loan Parties, Katten Muchin Rosenman LLP, as California counsel to the Loan Parties, Fennemore Craig Jones Vargas, as Nevada counsel to the Loan Parties, Price Benowitz LLP, as Virginia counsel to the Loan Parties, De Brauw Blackstone Westbroek New York B.V., P.C., as Dutch counsel to the Loan Parties, Loyens & Loeff N.V., as Dutch counsel to the Administrative Agent, the Lenders and the other Secured Parties, Mark D. Fischer, as general counsel of the U.S. Loan Parties, and Yu Lian de Bakker, as general counsel of an affiliate of the European Loan Parties, in each case as to such matters as are customary for financings of this type, dated as of the Effective Date and otherwise in form and substance reasonably satisfactory to the Administrative Agent (and each Loan Party hereby instructs such counsel to deliver such opinions to the Administrative Agent).
(g)    The Administrative Agent shall have received in relation to each Loan Party (1) copies of each Organizational Document and, to the extent applicable, certified as of a recent date by the appropriate governmental official; (2) corporate or entity certificates incorporating, without limitation, signature and incumbency certificates of the officers, managers, members and/or directors of such Person executing the Loan Documents to which it is a party; (3) to the extent applicable, resolutions of the Board of Directors (which, in the case of each European Loan Party, shall be its board of managing directors) approving and authorizing the execution, delivery and performance of this Amendment and the other Loan Documents to which it is a

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party or by which it or its assets may be bound as of the Effective Date, certified (to the extent required under applicable law or customary in accordance with local law or practice) as of the Effective Date by its secretary, its assistant secretary, director or any other competent officer or appropriate person as being in full force and effect without modification or amendment; (4) to the extent required under applicable law, the relevant entity’s Organizational Documents or internal regulations or, customary in accordance with local law or practice, a copy of resolutions from the general meeting of shareholders or its partners approving and authorizing the execution, delivery and performance of this Amendment and the other Loan Documents to which it is a party or by which it or its assets may be bound as of the Effective Date, certified as of the Effective Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment; and (5) to the extent required under applicable law or customary in accordance with local law or practice, a good standing certificate from the applicable Governmental Authority of its jurisdiction of incorporation, organization or formation, dated a recent date prior to the Effective Date; provided that, in lieu of delivering the Organizational Documents required by clause (1) and/or the corporate or entity certificates required by clause (2), the Borrower Representative may deliver a certificate of an Authorized Officer certifying that there have been no amendments to those Organizational Documents and/or corporate or entity certificates previously delivered to the Administrative Agent in connection with the Existing Credit Agreement.
(h)    The Administrative Agent shall have received a Solvency Certificate from the U.S. Borrower in the form of Exhibit B attached hereto.
(i)    No event shall have occurred and be continuing or would result directly from the effectiveness of this Amendment and the consummation of the transactions contemplated hereby that would constitute a Default or an Event of Default.
(j)    The representations and warranties contained in the Amended Credit Agreement and in the other Loan Documents shall be true and correct in all material respects on and as of the Effective Date to the same extent as though made on and as of the Effective Date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, to the extent any such representation or warranty is already qualified by materiality or Material Adverse Effect, such representation or warranty shall be true and correct in all respects.
(k)    The Administrative Agent shall have received a fully executed and delivered Borrowing Notice with respect to the Incremental Tranche A Term Loans.
(l)    To the extent requested in writing to the U.S. Borrower at least 10 Business Days prior to the Effective Date, the Lenders shall have received at least three days prior to the Effective Date all documentation and other information relating to the Loan Parties required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the PATRIOT Act.
For the avoidance of doubt, the Amendments set forth in Section 1 hereof shall become effective immediately following the repayment of the outstanding Tranche B Term Loans with

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the proceeds of the Incremental Tranche A Term Loans made pursuant to Section 2(a) hereof and the consummation of the transactions described in Section 2(b) hereof.
SECTION 4    Incremental Tranche A Term Loans. The parties hereto hereby agree that (a) the Incremental Tranche A Term Loans constitute Incremental Term Loans incurred pursuant to (and in accordance with) Section 2.24 of the Existing Credit Agreement and (b) this Amendment (including, without limitation, the Amended Credit Agreement) shall be deemed to be a Joinder Agreement effecting necessary and appropriate amendments to the Existing Credit Agreement and the other Loan Documents in connection with the creation of the Incremental Tranche A Term Loans. The Lenders party hereto hereby waive compliance with the requirements of Section 2.24 of the Existing Credit Agreement with respect to the creation of the Incremental Tranche A Term Loans and agree that the Incremental Tranche A Term Loans shall not be deemed a use of the amount set forth in clause (B)(1) of the first sentence of such Section.
SECTION 5    Effect on Loan Documents. Except as specifically amended herein, all other Loan Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Except as specifically set forth herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of the Loan Documents or in any way limit, impair or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or the Collateral Agent under the Loan Documents. The Borrowers and the other Loan Parties acknowledge and agree that, on and after the Effective Date, this Amendment and each of the other Loan Documents to be executed and delivered by a Loan Party in connection herewith shall constitute a Loan Document for all purposes of the Amended Credit Agreement. On and after the Effective Date, each reference in the Amended Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Existing Credit Agreement, and each reference in the other Loan Documents to “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Existing Credit Agreement shall mean and be a reference to the Existing Credit Agreement as amended by this Amendment, and this Amendment and the Amended Credit Agreement shall be read together and construed as a single instrument. Nothing herein shall be deemed to entitle the Borrowers to a further consent to, or a further waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement or any other Loan Document in similar or different circumstances. For the avoidance of doubt, this Amendment does not constitute a novation or termination by any Loan Party of the Indebtedness and Obligations under the Existing Credit Agreement.
SECTION 6    Expenses. The Borrowers agree to pay all reasonable out-of-pocket costs and expenses incurred by the Administrative Agent in connection with this Amendment and any other documents prepared in connection herewith, in each case to the extent required by Section 10.02 of the Amended Credit Agreement. The Borrowers hereby confirm that the indemnification provisions set forth in Section 10.03 of the Amended Credit Agreement shall apply to this Amendment and such losses, claims, damages, liabilities, costs and expenses (as more fully set forth therein as applicable) which may arise herefrom or in connection herewith.

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SECTION 7    Amendments; Execution in Counterparts; Severability.
(a)    This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each party hereto.
(b)    In case any provision in or obligation hereunder shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby (it being understood that the invalidity, illegality or unenforceability of a particular provision in a particular jurisdiction shall not in and of itself affect the validity, legality or enforceability of such provision in any other jurisdiction).
SECTION 8    Reaffirmation. Each of the Loan Parties party hereto, including each Guarantor, hereby (a) acknowledges and agrees that the Incremental Tranche A Term Loans and the Lenders thereof constitute Loans and Lenders under the Loan Documents, and that all of such Loan Party’s obligations under the Security Documents and the other Loan Documents to which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (b) reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured Parties and the guaranties made by it pursuant to the Existing Credit Agreement, (c) acknowledges and agrees that the grants of security interests by and the guaranties of the Loan Parties contained in the Existing Credit Agreement and the Security Documents are, and shall remain, in full force and effect after giving effect to this Amendment and the transactions contemplated hereby, and (d) agrees that the Obligations include Incremental Tranche A Term Loans.
SECTION 9 GOVERNING LAW; WAIVER OF JURY TRIAL; JURISDICTION. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER THIS AMENDMENT. The provisions of Section 10.15 of the Amended Credit Agreement are incorporated herein by reference.
SECTION 10 Headings. The Section headings herein are included herein for convenience of reference only and shall not constitute a part hereof for any other purpose, modify or amend the terms or conditions hereof, be used in connection with the interpretation of any term or condition hereof or be given any substantive effect.
SECTION 11 Counterparts. This Amendment may be executed in any number of counterparts (and by different parties hereto on different counterparts), each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other electronic transmission will be effective as delivery of an original counterpart thereof.

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[Remainder of page intentionally left blank.]


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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
PVH CORP., as U.S. Borrower
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH B.V., as European Borrower
By:    /s/ Daniel Grieder________________
    Name: Daniel Grieder
    Title: Managing Director
By:    /s/ Martijn Hagman_______________
    Name: Martijn Hagman
    Title: Manging Director

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


U.S. GUARANTORS:
PVH PUERTO RICO, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH PUERTO RICO LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH PRINCE C.V. HOLDING CORPORATION
By:    /s/ Michael A. Shaffer____________
    Name: Michael A. Shaffer
    Title: Executive Vice President
BASSNET LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President


 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


PVH RETAIL STORES LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
IZOD.COM INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH WHOLESALE CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH FOREIGN HOLDINGS CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH WHOLESALE NEW JERSEY, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


CALVIN KLEIN, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CK SERVICE CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CLUETT PEABODY RESOURCES CORPORATION
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CLUETT, PEABODY & CO., INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH EUROPE, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


PVH REALTY CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH NECKWEAR, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
KARL LAGERFELD LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
TOMMY HILFIGER U.S.A., INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
TOMMY HILFIGER RETAIL, LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


TOMMY HILFIGER WHOLESALE, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
TOMMY HILFIGER LICENSING LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
TOMCAN INVESTMENTS INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH GTLD HOLDINGS LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH GUAM, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


THE WARNACO GROUP, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
WARNACO INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CALVIN KLEIN JEANSWEAR COMPANY
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
WARNACO SWIMWEAR PRODUCTS INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
AUTHENTIC FITNESS ON-LINE, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


CCC ACQUISITION CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CKJ HOLDINGS, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
DESIGNER HOLDINGS LTD.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
OCEAN PACIFIC APPAREL CORP.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
WARNACO PUERTO RICO, INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


WARNACO RETAIL INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
CKU.COM INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
WARNACO U.S., INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
WARNACO SWIMWEAR INC.
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President
PVH GIFT CARD COMPANY LLC
By:    /s/ Mark Fischer_________________
    Name: Mark Fischer
    Title: Executive Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


EUROPEAN GUARANTOR:
TOMMY HILFIGER EUROPE B.V.
By:    /s/ Daniel Grieder________________
    Name: Daniel Grieder
    Title: Managing Director
By:    /s/ Martijn Hagman_______________
    Name: Martijn Hagman
    Title: Manging Director



 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


BARCLAYS BANK PLC,
as Administrative Agent, Collateral Agent, Swing Line Lender and Issuing Bank
By:    /s/ Ritam Bhalla ___________________
    Name: Ritam Bhalla
    Title: Director


 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


BANK OF AMERICA, N.A.,
as an Issuing Bank
By:    /s/ Carlos J. Medina _______________
    Name: Carlos J. Medina
    Title: Vice President

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


THE BANK OF NOVA SCOTIA,
as an Issuing Bank
By:    /s/ Michelle C. Phillips______________
    Name: Michelle C. Phillips
    Title: Director & Execution Head

 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12



JPMORGAN CHASE BANK, N.A.,
as an Issuing Bank
By:    /s/ James A. Knight_________________
    Name: James A. Knight
    Title: Executive Director


 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12




SIGNATURE PAGES & PROCEDURES FOR LENDERS PROVIDED SEPARATELY




 
Signature Page to
PVH Corp. Second Amendment to Credit Agreement



NY\5627635.37596523.12


EXHIBIT A-1
Amended Credit Agreement

[To Be Attached.]



EXHIBIT A-1

EXHIBIT A-1
AMENDED AND RESTATED
CREDIT AND GUARANTY AGREEMENT
DATED AS OF MARCH 21, 20141 
AMONG
PVH CORP., AS U.S. BORROWER,
PVH B.V., AS EUROPEAN BORROWER,
CERTAIN SUBSIDIARIES OF PVH CORP.,
AS GUARANTORS,
VARIOUS LENDERS,
BARCLAYS BANK PLC,
AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT,
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED AND CITIGROUP GLOBAL MARKETS INCCITIBANK, N.A.,
AS CO-SYNDICATION AGENTS
AND
JPMORGAN CHASE BANK, N.A. AND ROYAL BANK OF CANADA,
AS DOCUMENTATION
AGENTAGENTS
________________________________________________________
BARCLAYS BANK PLC, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, CITIGROUP GLOBAL MARKETS INC., JPMORGAN CHASE BANK, N.A. AND RBC CAPITAL MARKETS12,
AS JOINT LEAD ARRANGERS,
AND
BARCLAYS BANK PLC, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, CITIGROUP GLOBAL MARKETS INC., JPMORGAN CHASE BANK, N.A. AND RBC CAPITAL MARKETS,
AS JOINT LEAD BOOKRUNNERS
1
As amended to reflect the Second Amendment dated as of May 19, 2016
12
RBC Capital Markets is a brand name for the capital markets businesses of Royal Bank of Canada and its affiliates




EXHIBIT A-1


SENIOR SECURED CREDIT FACILITIES
________________________________________________________







TABLE OF CONTENTS
Page
Article I. DEFINITIONS AND INTERPRETATION.............................................................................................1
Section 1.01
Definitions...........................................................................................1
Section 1.02
Accounting Terms..............................................................................61
Section 1.03
Interpretation, Etc..........................................................................6261
Section 1.04
Exchange Rates; Currency Equivalents; Basket Calculations...........62
Section 1.05
Dutch Terms..................................................................................6463
Article II. LOANS AND LETTERS OF CREDIT...............................................................................64
Section 2.01
Term Loans.......................................................................................64
Section 2.02
Revolving Loans...............................................................................65
Section 2.03
Swing Line Loans.........................................................................6867
Section 2.04
Issuance of Letters of Credit and Purchase of Participations
Therein..............................................................................................71
Section 2.05
Pro Rata Shares; Availability of Funds; Affiliates........................7978
Section 2.06
Use of Proceeds................................................................................80
Section 2.07
Evidence of Debt; Register; Notes...................................................80
Section 2.08
Interest on Loans..............................................................................81
Section 2.09
Conversion/Continuation.................................................................84
Section 2.10
Default Interest................................................................................84
Section 2.11
Fees..................................................................................................85
Section 2.12
Scheduled Payments.........................................................................87
Section 2.13
Voluntary Prepayments/Commitment Reductions...........................88
Section 2.14
Mandatory Prepayments/Commitment Reductions.........................91
Section 2.15
Application of Prepayments/Reductions; Application of Proceeds
of Collateral....................................................................................93
Section 2.16
General Provisions Regarding Payments.....................................9695
Section 2.17
Ratable Sharing...........................................................................9796
Section 2.18
Making or Maintaining Eurocurrency Rate Loans.....................9897
Section 2.19
Increased Costs; Capital Adequacy............................................9998
Section 2.20
Taxes; Withholding, Etc.........................................................101100
Section 2.21
Obligation to Mitigate............................................................104103
Section 2.22
Defaulting Lenders.................................................................105103
Section 2.23
Removal or Replacement of a Lender....................................106104
Section 2.24
Incremental Facilities.............................................................107106
Section 2.25
Appointment of Borrower Representative.............................110109
Section 2.26
Ancillary Facilities.................................................................110109
Article III. CONDITIONS PRECEDENT...............................................................................114113
Section 3.01
Closing Date...........................................................................114113
Section 3.02
Conditions to Each Credit Extension......................................117116
Section 3.03
Restatement Date.....................................................................118117

i




Article IV. REPRESENTATIONS AND WARRANTIES.............................................................118117
Section 4.01
Organization; Requisite Power and Authority; Qualification..118117
Section 4.02
Equity Interests and Ownership...............................................119118
Section 4.03
Due Authorization....................................................................119118
Section 4.04
No Conflict..............................................................................119118
Section 4.05
Governmental Consents..........................................................119118
Section 4.06
Binding Obligation..................................................................120119
Section 4.07
Historical Financial Statements...............................................120119
Section 4.08
Projections...............................................................................120119
Section 4.09
No Material Adverse Change...................................................120119
Section 4.10
Adverse Proceedings, Etc........................................................120119
Section 4.11
Payment of Taxes....................................................................121120
Section 4.12
Properties................................................................................121120
Section 4.13
Environmental Matters...........................................................121120
Section 4.14
No Defaults.............................................................................122121
Section 4.15
Governmental Regulation.......................................................122121
Section 4.16
Margin Stock...........................................................................122121
Section 4.17
Employee Benefit Plans..........................................................122121
Section 4.18
Solvency.................................................................................123122
Section 4.19
Compliance with Statutes, Etc...............................................123122
Section 4.20
Disclosure....................................................................................123
Section 4.21
Intellectual Property...............................................................124123
Section 4.22
Ranking; Security...................................................................126125
Section 4.23
Centre of Main Interests and Establishments.........................126125
Section 4.24
European Loan Parties...........................................................126125
Section 4.25
OFAC.....................................................................................126125
Article V. AFFIRMATIVE COVENANTS..................................................................126125
Section 5.01
Financial Statements and Other Reports.....................................126
Section 5.02
Existence...............................................................................131130
Section 5.03
Payment of Taxes and Claims...............................................131130
Section 5.04
Maintenance of Properties.....................................................131130
Section 5.05
Insurance...............................................................................131130
Section 5.06
Books and Records; Inspections...........................................132131
Section 5.07
Compliance with Material Contractual Obligations and Laws..132131
Section 5.08
Environmental........................................................................132131
Section 5.09
Maintenance of Ratings..........................................................134133
Section 5.10
Intellectual Property................................................................134133
Section 5.11
Subsidiaries............................................................................135134
Section 5.12
Additional Material Real Estate Assets..................................136135
Section 5.13
Additional Collateral..............................................................137136
Section 5.14
Further Assurances.......................................................................137
Article VI. NEGATIVE COVENANTS.......................................................................138137
Section 6.01
Indebtedness..........................................................................138137
Section 6.02
Liens.......................................................................................142141
Section 6.03
Designation of Subsidiaries....................................................146145
Section 6.04
Restricted Payments...............................................................147146

ii




Section 6.05
Restrictions on Subsidiary Distributions; No Further
Negative Pledges.......................................................................148147
Section 6.06
Investments...............................................................................149148
Section 6.07
Financial Covenants..................................................................151150
Section 6.08
Fundamental Changes; Disposition of Assets; Acquisitions....152151
Section 6.09
[Reserved]................................................................................154153
Section 6.10
Sales and Lease‑Backs............................................................154153
Section 6.11
Transactions with Shareholders and Affiliates.........................155153
Section 6.12
Conduct of Business.................................................................156154
Section 6.13
Amendments or Waivers of Organizational Documents
and Certain Other Documents...................................................156154
Section 6.14
Fiscal Year.................................................................................156155
Section 6.15
Centre of Main Interests and Establishments............................157155
Article VII. GUARANTY................................................................................................157155
Section 7.01
Guaranty of the Obligations......................................................157155
Section 7.02
Limitation on Liability; Contribution by Guarantors................157156
Section 7.03
Payment by Guarantors.............................................................159157
Section 7.04
Liability of Guarantors Absolute...............................................159158
Section 7.05
Waivers by Guarantors..............................................................162160
Section 7.06
Guarantors’ Rights of Subrogation, Contribution, Etc..............162161
Section 7.07
Subordination of Certain Intercompany Obligations................163161
Section 7.08
Continuing Guaranty.................................................................164162
Section 7.09
Authority of Guarantors or the Borrowers................................164162
Section 7.10
Financial Condition of the Borrowers.......................................164162
Section 7.11
Bankruptcy, Etc.........................................................................164163
Section 7.12
Discharge of Guaranty Upon Sale of Guarantor.......................165164
Section 7.13
European Guarantor Limitations..............................................165164
Section 7.14
Subordination of the Guaranteed Obligations..........................166164
Article VIII. EVENTS OF DEFAULT............................................................................166164
Section 8.01
Events of Default......................................................................166164
Article IX. AGENTS.......................................................................................................170168
Section 9.01
Appointment of Agents.............................................................170168
Section 9.02
Powers and Duties.....................................................................170169
Section 9.03
General Immunity......................................................................171170
Section 9.04
Agents Entitled to Act as Lender...............................................173171
Section 9.05
Lenders’ Representations, Warranties and Acknowledgment....173172
Section 9.06
Right to Indemnity.....................................................................174172
Section 9.07
Successor Administrative Agent, Collateral Agent and
Swing Line Lender.....................................................................174173
Section 9.08
Security Documents and Guaranty............................................176175
Section 9.09
Withholding Taxes.....................................................................178177
Section 9.10
Administrative Agent May File Proofs of Claim.......................178177
Section 9.11
Administrative Agent’s “Know Your Customer”
Requirements.............................................................................179177

iii




Article X. MISCELLANEOUS.......................................................................................179178
Section 10.01
Notices.......................................................................................179178
Section 10.02
Expenses.....................................................................................181179
Section 10.03
Indemnity....................................................................................182180
Section 10.04
Set‑Off........................................................................................183181
Section 10.05
Amendments and Waivers...........................................................183182
Section 10.06
Successors and Assigns; Participations.......................................187186
Section 10.07
Independence of Covenants, Etc.................................................191190
Section 10.08
Survival of Representations, Warranties and Agreements..........191190
Section 10.09
No Waiver; Remedies Cumulative.............................................192190
Section 10.10
Marshalling; Payments Set Aside...............................................192191
Section 10.11
Severability.................................................................................192191
Section 10.12
Obligations Several; Independent Nature of Lenders’ Rights.....192191
Section 10.13
Table of Contents and Headings..................................................193191
Section 10.14
APPLICABLE LAW...................................................................193191
Section 10.15
CONSENT TO JURISDICTION................................................193192
Section 10.16
WAIVER OF JURY TRIAL.......................................................194192
Section 10.17
Confidentiality............................................................................194193
Section 10.18
Usury Savings Clause.................................................................195194
Section 10.19
Counterparts................................................................................195194
Section 10.20
Effectiveness; Entire Agreement; No Third Party
Beneficiaries................................................................................196194
Section 10.21
PATRIOT Act...............................................................................196195
Section 10.22
“Know Your Customer” Checks..................................................196195
Section 10.23
Electronic Execution of Assignments...........................................197195
Section 10.24
No Fiduciary Duty........................................................................197196
Section 10.25
Judgment Currency.......................................................................198196
Section 10.26
Ancillary Borrowers......................................................................198197


iv




SCHEDULES:
1.01(a)    Tranche A Term Loan Commitments
1.01(b)    
Tranche B Term Loan Commitments[Reserved]
1.01(c)    Revolving Commitments
1.01(d)    Notice Addresses
1.01(f)    Mandatory Costs
1.01(g)    Material Companies
1.01(h)    Pro Forma Corporate Structure Chart
2.26    Closing Date Ancillary Facilities
3.01(e)    Closing Date Mortgaged Properties
4.02    Equity Interests and Ownership
4.12    Real Estate Assets
4.17(a)    Foreign Plans
4.17(b)    UK Defined Benefit Pension Plan
5.15    Post-Closing Obligations
6.01    Certain Indebtedness
6.02    Certain Liens
6.05    Certain Restrictions on Subsidiaries
6.06    Certain Investments
6.11    Certain Affiliate Transactions
EXHIBITS:
A-1    Borrowing Notice
A-2    Conversion/Continuation Notice
A-3    Issuance Notice
B-1    Tranche A Term Loan Note
B-2    
Tranche B Term Loan Note[Reserved]
B-3    Revolving Loan Note
B-4    Swing Line Note
B-5    Incremental Term Loan Note
C    Compliance Certificate
D    Certificate re Non‑Bank Status
E‑1    Closing Date Certificate
E‑2    Solvency Certificate
F-1    Guarantor Counterpart Agreement
F-2    Ancillary Borrower Counterpart Agreement
G    Mortgage
H    Landlord Waiver and Consent Agreement
I    Joinder Agreement
J    Perfection Certificate



v




AMENDED AND RESTATED
CREDIT AND GUARANTY AGREEMENT
This AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT, dated as of March 21, 2014, is entered into by and among PVH CORP., a Delaware corporation (the “U.S. Borrower”), PVH B.V. (formerly known as Tommy Hilfiger B.V.), a Dutch private limited liability company with its corporate seat in Amsterdam, The Netherlands (the “European Borrower” and, together with the U.S. Borrower, the “Borrowers”), CERTAIN SUBSIDIARIES OF THE U.S. BORROWER, as Guarantors, the Lenders party hereto from time to time, and BARCLAYS BANK PLC (“Barclays”), as Administrative Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent (together with its permitted successors in such capacity, the “Collateral Agent”), with MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (“MLPFS”) and CITIGROUP GLOBAL MARKETS INC. (“CGMICITIBANK, N.A.(“Citi”), as Co-Syndication Agents (together with their permitted successors in such capacity, the “Co-Syndication Agents”), and ROYAL BANK OF CANADA (“Royal Bank”) and, in connection with the Second Amendment, JPMorgan Chase Bank, N.A. (“JPMorgan”), as Documentation AgentAgents.
RECITALS:
WHEREAS, capitalized terms used in these Recitals have the respective meanings set forth for such terms in Section 1.01 hereof;
WHEREAS, pursuant to that certain Credit and Guaranty Agreement, dated as of February 13, 2013 (the “Original Credit Agreement”), by and among the Borrowers, certain subsidiaries of the U.S. Borrower, as guarantors, the Lenders party thereto from time to time (the “Original Lenders”) and Barclays Bank PLC, as administrative agent and collateral agent, the Original Lenders have extended certain credit facilities to the Borrowers; and
WHEREAS, pursuant to the First Amendment, the Borrowers, certain subsidiaries of the U.S. Borrower party thereto, the Lenders party thereto, the Issuing Banks party thereto and the Administrative Agent have agreed to amend the Original Credit Agreement into the form hereof, which amendment shall become effective as provided in the First Amendment.
NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:
ARTICLE I.
DEFINITIONS AND INTERPRETATION
Section 1.01    Definitions. The following terms used herein, including in the preamble, recitals, exhibits and schedules hereto, shall have the following meanings:
2020 Notes” means the 7.375% senior unsecured notes due 2020 issued by the U.S. Borrower pursuant to the 2020 Notes Indenture.

1




2020 Notes Documents” means the 2020 Notes, the 2020 Notes Indenture and all other instruments, agreements and other documents evidencing or governing the 2020 Notes or providing for any guarantee or other right in respect thereof.
2020 Notes Indenture” means that certain Indenture, dated as of May 6, 2010, between the U.S. Borrower and U.S. Bank National Association, as trustee.
2022 Notes” means the 4.500% senior unsecured notes due 2022 issued by the U.S. Borrower pursuant to the 2022 Notes Indenture.
2022 Notes Documents” means the 2022 Notes, the 2022 Notes Indenture and all other instruments, agreements and other documents evidencing or governing the 2022 Notes or providing for any guarantee or other right in respect thereof.
2022 Notes Indenture” means that certain Indenture, dated as of December 20, 2012, between the U.S. Borrower and U.S. Bank National Association, as trustee.
2023 Debentures” means the 7-3/4% debentures due 2023 issued by the U.S. Borrower pursuant to the 2023 Debentures Indenture.
2023 Debentures Indenture” means that certain Indenture, dated as of November 1, 1993, between the U.S. Borrower and the 2023 Debentures Trustee.
2023 Debentures Intercreditor Agreement” means that certain 2023 Debentures Intercreditor Agreement, dated as of the Closing Date, between the U.S. Borrower, the Collateral Agent and The Bank of New York Mellon, as trustee under the 2023 Debentures Indenture.
2023 Debentures Obligations” means all obligations of every nature of any Group Member under or with respect to the 2023 Debentures.
2023 Debentures Trustee” means The Bank of New York Mellon, as trustee under the 2023 Debentures Indenture, and its successors in such capacity.
Acquired Business” means The Warnaco Group, Inc., a Delaware corporation, which was acquired by the U.S. Borrower pursuant to the Acquisition.
Acquisition” means that certain acquisition pursuant to the Acquisition Agreement whereby the Acquired Business was merged with Merger Sub on the Closing Date, with the Acquired Business surviving as a wholly-owned Subsidiary of the U.S. Borrower.
Acquisition Agreement” means that certain Agreement and Plan of Merger, dated as of October 29, 2012, by and among the U.S. Borrower, Merger Sub and the Acquired Business.
Acquisition Agreement Representations” means the representations and warranties made by or with respect to the Acquired Business in the Acquisition Agreement that are material to the interests of the Lenders (but only to the extent that the U.S. Borrower or its Subsidiaries (other than the Acquired Business and its Subsidiaries) have the right to terminate their respective obligations under

2




the Acquisition Agreement (or decline to consummate the transactions thereunder) as a result of a breach of such representations in the Acquisition Agreement).
Acquisition Consideration” means the purchase consideration for any PermittedSubject Acquisition and all other payments by any Group Member in exchange for, or as part of, or in connection with, any PermittedSubject Acquisition, whether paid in cash or by exchange of Equity Interests or of properties or otherwise and whether payable at or prior to the consummation of such PermittedSubject Acquisition or deferred for payment at any future time, whether or not any such future payment is subject to the occurrence of any contingency, and includes any and all payments representing the purchase price and any assumptions of Indebtedness, “earn-outs” and other agreements to make any payment the amount of which is, or the terms of payment of which are, in any respect subject to or contingent upon the revenues, income, cash flow or profits (or the like) of any Person or business (it being understood that the amount of any deferred payment, including consideration paid in the form of or pursuant to an “earn-out” or other contingent payment, shall be calculated as the present value of expected future payments in respect thereof, as of the date of consummation of the applicable PermittedSubject Acquisition in accordance with GAAP).
“Acquisition Period” shall mean the period from and after the consummation of a Qualifying Acquisition to and including the last day of the fourth full fiscal quarter following the fiscal quarter in which such Qualifying Acquisition was consummated.
Adjusted Eurocurrency Rate” means, for any Interest Rate Determination Date with respect to an Interest Period for a Eurocurrency Rate Loan, the rate per annum obtained by dividing (i) (a) the rate per annum equal to the rate determined by the Administrative Agent to be the applicable Screen Rate for deposits (for delivery on the first day of such period) (such page currently being (x) in relation to a Loan denominated in Dollars or Other Foreign Currency, the LIBOR01 page, (y) in relation to a Loan denominated in Canadian Dollars, the CDOR page and (z) in relation to a Loan denominated in Euros, the EURIBOR01 page) with a term equivalent to such period in the relevant currency, determined as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date, or (b) in the event the rates referenced in the preceding clause (a) are not available, the rate per annum equal to the offered quotation rate to first class banks in the London interbank market by the Administrative Agent for deposits (for delivery on the first day of the relevant period) in such currency of amounts in same day funds comparable to the principal amount of the applicable Loan of the Administrative Agent, in its capacity as a Lender, for which the Adjusted Eurocurrency Rate is then being determined with maturities comparable to such period as of approximately 11:00 a.m. (London, England time) on such Interest Rate Determination Date, by (ii) an amount equal to (a) one minus (b) the Applicable Reserve Requirement. Notwithstanding the foregoing, with respect to any determination of the Adjusted Eurocurrency Rate with respect toRevolving Loans and Tranche BA Term Loans, the Adjusted Eurocurrency Rate shall not be less than 0.750.00% per annum.
Administrative Agent” has the meaning specified in the preamble hereto.
Adverse Proceeding” means any action, suit or proceeding at law or in equity or, to the knowledge of any Authorized Officer of any Borrower, any hearing (whether administrative, judicial or

3




otherwise), investigation before or by any Governmental Authority or arbitration (whether or not purportedly on behalf of any Group Member) against or affecting any Group Member or any property of any Group Member.
Affected Lender” has the meaning set forth in Section 2.18(b).
Affiliate” means, as applied to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, that Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power (i) to vote 10.0% or more of the Securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting Securities or by contract or otherwise; provided, that no Agent or Lender shall be deemed to be an Affiliate of any Loan Party.
Agent” means each of the Administrative Agent, the Collateral Agent, the Co-Syndication Agents and the Documentation AgentAgents.
Agent Affiliates” has the meaning set forth in Section 10.01(b)(iii).
Aggregate Amounts Due” has the meaning set forth in Section 2.17.
Aggregate Payments” has the meaning set forth in Section 7.02(b).
Agreement” means this Amended and Restated Credit and Guaranty Agreement, dated as of March 21, 2014, as it may be amended, restated, supplemented or otherwise modified from time to time.
Agreement Currency” has the meaning set forth in Section 10.25.
ALTA” means American Land Title Association, and any successor thereto.
Ancillary Borrower” means, with respect to an Ancillary Facility, any Borrower or any Group Member that shall have acceded as a Borrower to this Agreement and become a Borrower under the Ancillary Facility pursuant to Section 10.26.
Ancillary Commencement Date” means, in relation to an Ancillary Facility, the date on which that Ancillary Facility is first made available, which date shall be a Business Day within the European Revolving Commitment Period.
Ancillary Commitment” means, in relation to an Ancillary Lender and an Ancillary Facility, the Euro Equivalent of the maximum amount of Approved Currency or other currency freely exchangeable into Euro and agreed to by the Ancillary Lender which that Ancillary Lender has agreed (whether or not subject to satisfaction of conditions precedent) to make available from time to time under an Ancillary Facility and which has been authorized as such under Section 2.26, to the extent that amount is not cancelled or reduced under this Agreement or the Ancillary Documents relating to that Ancillary Facility.

4




Ancillary Document” means each document relating to or evidencing the terms of an Ancillary Facility.
Ancillary Facility” means any ancillary facility made available by any Ancillary Lender in accordance with Section 2.26.
Ancillary Lender” means each Lender (or Affiliate of a Lender) that makes available an Ancillary Facility in accordance with Section 2.26.
Ancillary Outstandings” means, at any time, in relation to an Ancillary Lender and an Ancillary Facility then in force, the aggregate of the Euro Equivalent of the following amounts outstanding under such Ancillary Facility: (a) the principal amount under each overdraft facility and on-demand short term loan facility (net of any credit balances on any account of any Borrower of an Ancillary Facility with the Ancillary Lender making available such Ancillary Facility to the extent that the credit balances are freely available to be set off by such Ancillary Lender against liabilities owed to it by that Borrower under such Ancillary Facility); (b) the face amount of each guaranty, bond and letter of credit under such Ancillary Facility and (c) the amount fairly representing the aggregate exposure (excluding interest and similar charges) of such Ancillary Lender under each other type of accommodation provided under such Ancillary Facility, in each of clauses (a) through (c), as determined by such Ancillary Lender, acting reasonably in accordance with its normal banking practice and in accordance with the relevant Ancillary Document.
Applicable Margin” means
(i) (a) with respect to Tranche B Term Loans that are Eurocurrency Rate Loans, (1) from the Restatement Date until the date of delivery of the Compliance Certificate and the financial statements for the Fiscal Quarter during which the Restatement Date occurs, a percentage, per annum, determined by reference to the following table as if the Net Leverage Ratio then in effect were greater than 2.75:1.00 and (2) thereafter, a percentage, per annum, determined by reference to the Net Leverage Ratio in effect from time to time as set forth below and (b) with respect to Tranche B Term Loans that are Base Rate Loans, (1) from the Restatement Date until the date of delivery of the Compliance Certificate and the financial statements for the Fiscal Quarter during which the Restatement Date occurs, a percentage, per annum, determined by reference to the table below as if the Net Leverage Ratio then in effect were greater than 2.75:1.00 and (2) thereafter, a percentage, per annum, determined by reference to the Net Leverage Ratio in effect from time to time as set forth below:[Reserved]
Net Leverage Ratio
Applicable Margin for Tranche B Term Loans that are Eurocurrency Rate Loans
Applicable Margin for Tranche B Term Loans that are Base Rate Loans
> 2.75:1.00
2.50%
1.50%
≤ 2.75:1.00
2.25%
1.25%



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(ii) (a) with respect to Tranche A Term Loans and Revolving Loans that are Eurocurrency Rate Loans, (1) from the RestatementSecond Amendment Date until the date of delivery of the Compliance Certificate and the financial statements for the Fiscal Quarter during which the RestatementSecond Amendment Date occurs, a percentage, per annum, determined by reference to the table below as if the Net Leverage Ratio then in effect were greater than 3.002.00:1.00 but less than or equal to 4.003.00:1.00 and (2) thereafter, a percentage, per annum, determined by reference to the Net Leverage Ratio in effect from time to time as set forth below and (b) with respect to Tranche A Term Loans that are Base Rate Loans and Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans, (1) from the RestatementSecond Amendment Date until the date of delivery of the Compliance Certificate and the financial statements for the Fiscal Quarter during which the RestatementSecond Amendment Date occurs, a percentage, per annum, determined by reference to the table below as if the Net Leverage Ratio then in effect were greater than 3.002.00:1.00 but less than or equal to 4.003.00:1.00 and (2) thereafter, a percentage, per annum, determined by reference to the Net Leverage Ratio in effect from time to time as set forth below:
Net Leverage Ratio
Applicable Margin for Tranche A Term Loans, U.S. Revolving Loans and Canadian Revolving Loans that are Eurocurrency Rate Loans and European Revolving Loans
Applicable Margin for Tranche A Term Loans and U.S. Revolving Loans that are Base Rate Loans and Canadian Revolving Loans that are Canadian Prime Rate Loans
> 4.00:1.00
2.00%
1.00%
≤ 4.00:1.00
> 3.00:1.00
1.75%
0.75%
≤ 3.00:1.00
> 2.00:1.00
1.50%
0.50%
≤ 2.00:1.00
1.25%
0.25%



(iii) with respect to Swing Line Loans, an amount equal to (a) the Applicable Margin for Tranche A Term Loans that are Eurocurrency Rate Loans as set forth in clause (ii)(a)(1) or (ii)(a)(2) above, as applicable, minus (b) 1.00% per annum.
No change in the Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, shall be effective until three Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Net Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), (x) the Applicable Margin for Tranche A Term Loans and Revolving Loans shall be determined as if the Net Leverage Ratio were in excess of 4.00:1.00 and (y) the Applicable Margin for Tranche B Term Loans shall be determined as if the Net Leverage Ratio were in excess of 2.75:1.00. Promptly following receipt of the applicable information under

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Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, for any period (an “Applicable Period”) than the Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, shall be recalculated with the Net Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional interest owing as a result of such increased Applicable Margin for Tranche A Term Loans, Tranche B Term Loans and Revolving Loans, as applicable, for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement. Notwithstanding the foregoing, at any time (x) prior to the Restatement Date, the Applicable Margin shall be determined in accordance with the Original Credit Agreement and (y) prior to the Second Amendment Date shall be determined in accordance with this Agreement prior to giving effect to the Second Amendment.
Applicable Period” has the meaning set forth in the definition of “Applicable Margin”.
Applicable Reserve Requirement” means, at any time, for any Eurocurrency Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. The rate of interest on Eurocurrency Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.
Applicable Revolving Commitment Fee Percentage” means (a) from the RestatementSecond Amendment Date until the date of delivery of the Compliance Certificate and the financial statements for the Fiscal Quarter during which the RestatementSecond Amendment Date occurs, a percentage, per annum, determined by reference to the following table as if the Net Leverage Ratio then in effect were in excess of 3.00less than 4.00:1.00, and (b) thereafter, a percentage, per annum, determined by reference to the Net Leverage Ratio in effect from time to time as set forth below:
Net Leverage Ratio
Commitment Fee
> 3.004.00 : 1.00
0.375%
< 3.004.00 : 1.00
0.250%

No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three Business Days after the date on which the Administrative Agent has received the applicable financial

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statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Net Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Net Leverage Ratio were in excess of 3.004.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Net Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement. Notwithstanding the foregoing, at any time prior to the (x) Restatement Date, the Applicable Revolving Commitment Fee Percentage shall be determined in accordance with the Original Credit Agreement. and (y) Second Amendment Date, the Applicable Revolving Commitment Fee Percentage shall be determined in accordance with this this Agreement prior to giving effect to the Second Amendment.
Approved Currency” means each of Dollars, Euros, Canadian Dollars or any Other Foreign Currency.
Approved Electronic Communications” means any notice, demand, communication, information, document or other material that any Loan Party provides to the Administrative Agent pursuant to any Loan Document or the transactions contemplated therein which is distributed to Agents or to Lenders by means of electronic communications pursuant to Section 10.01(b).
Arrangers means Barclays, MLPFS, CGMI and RBCCM, (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the date of Second Amendment Date), CGMI, RBCCM and, from the Second Amendment Date, JPMorgan Chase Bank, N.A. each in its capacity as a joint lead arranger.
Asset Sale” means a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, exclusive license (as licensor or sublicensor), transfer or other disposition to, or any exchange of property with, any Person (other than (a) any Loan Party or (b) any Restricted Subsidiary in the ordinary course of business), in one transaction or a series of transactions, of all or any part of any Group Member’s businesses, assets or properties of any kind, whether real, personal, or mixed and whether tangible or intangible, whether now owned or hereafter acquired, leased or

8




licensed, including the Equity Interests of any of the U.S. Borrower’s Subsidiaries, other than (i) inventory (or other assets) sold, leased, licensed out or otherwise disposed of in the ordinary course of business, (ii) sales, leases, licenses out or other dispositions of worn out, obsolete, scrap or surplus assets or assets no longer useful in the conduct of the business of any Group Member, in each case, in the ordinary course of business, and (iii) sales, leases, licenses out or other dispositions of other assets for aggregate consideration of less than $10,000,000 with respect to any transaction or series of related transactions.
Assignment Agreement” means an assignment agreement in the form agreed to by the Administrative Agent and the Lenders on the Closing Date, with such amendments or modifications solely to reflect market practice as may be approved in writing by the Administrative Agent.
Assignment Effective Date has the meaning set forth in Section 10.06(b).
Attributable Indebtedness means, in respect of any Sale and Lease-Back, as at the time of determination, the present value (discounted at the interest rate borne by the 2020 Notes, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the Capital Lease included in such Sale and Lease-Back (including any period for which such Capital Lease has been extended).
Authorized Officer” means, as applied to any Person, the chairman of the board (if an officer), principal executive officer, president or any corporate vice president (or the equivalent thereof), principal financial officer, principal accounting officer or any director of such Person. Unless otherwise specified, an Authorized Officer shall refer to an Authorized Officer of the Borrower Representative.
Available Amount” means, as of any date, the sum, without duplication, of: (i) the sum of (a) the aggregate cumulative amount of any Consolidated Excess Cash Flow to the extent not otherwise required to be applied pursuant to Section 2.14(d), beginning with the Fiscal Year ending February 2, 2014, plus (b) the Consolidated Excess Cash Flow, if any, for FQ4 2012, (ii) $307,353,000, (iii) the Net Cash Proceeds received after the Closing Date and on or prior to the date of such determination of the Available Amount, of any sale of Equity Interests by, or capital contribution to, the U.S. Borrower (which, in the case of any such sale of Equity Interests, are not Disqualified Equity Interests and are not issued in connection with the Closing Date Transactions), and (iv) an amount equal to any returns (including dividends, interest, distributions, returns on principal, profits on sale, repayments, income and similar amounts) actually received in cash and Cash Equivalents by any Loan Party in respect of any Investments made or owned pursuant to Section 6.06(m), less, the sum of any Available Amount used from and after the Closing Date to make (w) Restricted Payments pursuant to Sections 6.04(f) and 6.04(g), (x) Investments permitted by Section 6.06(m) and (y) below par purchases of Term Loans in accordance with Section 2.13(c). For the avoidance of doubt, any Net Cash Proceeds from the sale of Equity Interests or any cash returns received in respect of any Investment pursuant to Section 6.06(m)(ii) or 6.06(n)(ii) received by any Group Member shall not be included in the Available Amount to the extent such Net Cash Proceeds or cash returns are utilized to make Restricted Payments pursuant to Section 6.04(f)(ii) or Investments

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pursuant to Section 6.06(m)(ii) or 6.06(n)(ii), as applicable, which are not specifically tied to the Available Amount.
“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.
“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.
Bank Guarantee” means a direct guaranty issued for the account of any Foreign Subsidiary pursuant to this Agreement by an Issuing Bank, in form acceptable to such Issuing Bank, ensuring that a liability of such Subsidiary acceptable to such Issuing Bank and owing to a third party will be met.
Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute.
Barclays” has the meaning specified in the preamble hereto.
Base Rate” means, for any day, a rate per annum equal to the greater of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Effective Rate in effect on such day plus ½ of 1.00%, and (iii) the Adjusted Eurocurrency Rate that would be payable on such day for a Eurocurrency Rate Loan with a one-month Interest Period plus 1.00%. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate, respectively. Notwithstanding the foregoing, with respect to any determination of the Base Rate with respect to Tranche B Term Loans, the Base Rate shall not be less than 1.75% per annum.
Base Rate Loan” means a Loan bearing interest at a rate determined by reference to the Base Rate.
Board of Directors” means with respect to any Person, the board of directors, the board of managers or similar governing body of such Person, or if such Person is owned and/or managed by a single entity, the board of directors or similar governing body of such entity.
Board of Governors” means the Board of Governors of the United States Federal Reserve System, or any successor thereto.
Bookrunners” means each of Barclays, MLPFS, Citi and RBCCM,, RBCCM and, in connection with the Second Amendment, JPMorgan each in its capacity as a joint lead bookrunner.
Borrower Financial Advisor” has the meaning set forth in Section 10.24.
Borrower Representative” means the U.S. Borrower in its capacity as representative of the other Borrowers as set forth in Section 2.25.
Borrowers” means the Persons identified as the “Borrowers” in the preamble hereto or any other Person that may accede to this Agreement as an Ancillary Borrower hereunder.

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Borrowing Notice” means a notice substantially in the form of Exhibit A‑1.
Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed in, the state where the Administrative Agent’s Principal Office with respect to the Obligations denominated in Dollars is located and:
(a)    if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day on which dealings in deposits in Dollars are conducted by and between banks in the London interbank eurodollar market;
(b)    if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer which utilizes a single shared platform and which was launched on 19 November 2007 (TARGET 2) payment system (or, if such payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro;
(c)    if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable offshore interbank market for such currency;
(d)    if such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan (other than any interest rate settings), means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency; and
(e)    if such day relates to any interest rate settings, funding, disbursement, settlements and payments in Canadian Dollars, means any day other than a Saturday, Sunday or other day on which commercial banks in Toronto, Ontario are authorized or required by law to close.
Canadian Dollars” means the lawful money of Canada.
Canadian Issuing Bank” means an Issuing Bank that has agreed to issue Canadian Letters of Credit.

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Canadian Letter of Credit” means any commercial or standby letter of credit issued or to be issued by an Issuing Bank for the account of the U.S. Borrower or any of its Subsidiaries pursuant to Section 2.04(a)(iii) of this Agreement, and any letter of credit issued and outstanding as of the Closing Date and designated by the Borrower Representative as a “Canadian Letter of Credit” pursuant to a written notice delivered to the Administrative Agent on or prior to the Closing Date; provided that the issuer thereof is a Revolving Lender hereunder. Each such letter of credit so designated shall be deemed to constitute a Canadian Letter of Credit and a Letter of Credit issued hereunder on the Closing Date for all purposes under this Agreement and the other Loan Documents.
Canadian Letter of Credit Sublimit” means the lesser of (a) $10,000,000 and (b) the aggregate unused amount of the Canadian Revolving Commitments then in effect.
Canadian Letter of Credit Usage” means, as at any date of determination, the sum of (i) the Dollar Equivalent of the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all Canadian Letters of Credit then outstanding, and (ii) the Dollar Equivalent of the aggregate amount of all drawings under Canadian Letters of Credit honored by the Issuing Bank and not theretofore reimbursed by or on behalf of the U.S. Borrower.
Canadian Prime Rate” means, at any time, the greater of (i) the rate of interest per annum which Royal Bank establishes at its main office in Toronto, Ontario as the reference rate of interest in order to determine interest rates for loans in Canadian Dollars to its Canadian borrowers, adjusted automatically with each quoted or published change in such rate, all without the necessity of any notice to the U.S. Borrower or any other Person and (ii) the sum of (x) the average of the rates per annum for Canadian Dollar bankers’ acceptances having a term of one month that appears on the display referred to as “CDOR Page” of Reuters Monitor Money Rate Services as of 10:00 a.m. (Toronto time) on the date of determination, as reported by the Administrative Agent (and if such screen is not available, any successor or similar service as may be selected by the Administrative Agent), and (y) 0.75%.
Canadian Prime Rate Loans” means Loans for which the applicable rate of interest is based upon the Canadian Prime Rate.
Canadian Refunded Swing Line Loans” has the meaning set forth in Section 2.03(b)(iv).
Canadian Revolving Commitment” means the commitment of a Lender to make or otherwise fund any Canadian Revolving Loan and to acquire participations in Canadian Letters of Credit and Swing Line Loans hereunder and “Canadian Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Canadian Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Canadian Revolving Commitments as of the RestatementSecond Amendment Date is $25,000,000.

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Canadian Revolving Commitment Period” means the period from and including the Closing Date to but excluding the Canadian Revolving Commitment Termination Date.
Canadian Revolving Commitment Termination Date” means the earliest to occur of (i) the sixthfifth anniversary of the ClosingSecond Amendment Date, which date is February 13, 2019,May 19, 2021, (ii) the date thesuch Canadian Revolving Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14 and (iii) the date of the termination of thesuch Canadian Revolving Commitments pursuant to Section 8.01.
Canadian Revolving Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of thesuch Lender’s Canadian Revolving Commitments, that Lender’s Canadian Revolving Commitment; and (ii) after the termination of thesuch Lender’s Canadian Revolving Commitments, the sum of (a) the Dollar Equivalent of the aggregate outstanding principal amount of the Canadian Revolving Loans of that Lender, (b) in the case of an Issuing Bank, the Dollar Equivalent of the aggregate Canadian Letter of Credit Usage in respect of all Canadian Letters of Credit issued by such Issuing Bank (net of any participations by Lenders in such Canadian Letters of Credit), (c) the Dollar Equivalent of the aggregate amount of all participations by that Lender in any outstanding Canadian Letters of Credit or any unreimbursed drawing under any Canadian Letter of Credit, (d) in the case of the Canadian Swing Line Lender, the aggregate outstanding principal amount of all Canadian Swing Line Loans (net of any participations therein by other Lenders), and (e) the aggregate amount of all participations therein by that Lender in any outstanding Canadian Swing Line Loans.
Canadian Revolving Loan” means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.
Canadian Swing Line Lender” means Barclays in its capacity as the Canadian Swing Line Lender hereunder, together with its permitted successors and assigns in such capacity.
Canadian Swing Line Loan” means a Loan made by the Canadian Swing Line Lender to the U.S. Borrower pursuant to Section 2.03(a)(ii).
Canadian Swing Line Sublimit” means the lesser of (i) $10,000,00025,000,000 and (ii) the aggregate unused amount of Canadian Revolving Commitments then in effect.
Capital Lease” means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee that, in conformity with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person.
Cash Collateralize” means either (a) the delivery of cash to the Collateral Agent as security for the payment of Obligations in respect of Letters of Credit in an amount equal to 102.0% of the aggregate face amount of such outstanding Letters of Credit or (b) the delivery to the applicable Issuing Bank of a customary back-to-back letter of credit in an amount equal to 102.0% of the aggregate face amount of the outstanding Letters of Credit issued by such Issuing Bank. “Cash Collateralization” has a correlative meaning.
Cash Equivalents” means, as at any date of determination, any of the following: (i) marketable securities (a) issued or directly and unconditionally guaranteed as to interest and principal by the

13




United States or Canada or (b) issued by any agency of the United States or Canada, as the case may be, the obligations of which are backed by the full faith and credit of the United States or Canada, as the case may be, in each case maturing within one year after such date; (ii) marketable direct obligations issued by any state or province of the United States or Canada, as the case may be, or any political subdivision of any such state or province, or any taxing authority or public instrumentality of any thereof, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-3 from S&P or at least P-3 from Moody’s (or, if at any time neither Moody’s or S&P shall be rating such obligations, an equivalent rating from another nationally recognized rating service) or the equivalent rating from any other internationally recognized rating agency; (iii) certificates of deposit or bankers’ acceptances maturing within one year after such date and overnight deposits, in each case, with any Lender or a commercial bank (a) having capital and surplus of not less than $500,000,000 (or the Dollar Equivalent as of the date of determination) and (b) (other than in the case of a Lender or commercial bank located in Brazil, as to which the requirements of this clause (b) shall not apply), having a rating of at least BBB from S&P or at least Baa2 from Moody’s (or, if at any time neither Moody’s or S&P shall be rating such obligations, an equivalent rating from another nationally recognized rating service) or the equivalent rating from any other internationally recognized rating agency; (iv) shares of any money market mutual fund that has substantially all of its assets invested continuously in the types of investments referred to in clauses (i), (ii), (iii), (vi) and (vii) of this definition, (v) marketable short-term money market or similar securities having a rating of at least P-2 from Moody’s or at least A-2 from S&P (or, if at any time neither Moody’s nor S&P shall be rating such obligation, an equivalent rating from another nationally recognized rating service) or the equivalent rating from any other internationally recognized rating agency and maturing within one year after such date, (vi) commercial paper rated at least P-1 by Moody’s or at least A-1 by S&P (or, if at any time neither Moody’s or S&P shall be rating such obligations, an equivalent rating from another nationally recognized rating service) maturing within one year from such date and Indebtedness and preferred stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher from Moody’s with maturities of one year or less from such date, (vii) repurchase obligations for underlying securities of the types described in clauses (i), (ii) and (iii) above entered into with any bank meeting the qualifications specified in clause (iii) above or (viii) investment in investment funds investing 90% of their assets in securities of the types described in clauses (i) through (vii) above; provided, that, in the case of any Investment by a Subsidiary that is not a U.S. Subsidiary, “Cash Equivalents” shall also include: (w) direct obligations of the sovereign nation (or any agency thereof) in which such Foreign Subsidiary is organized and is conducting business or in obligations fully and unconditionally guaranteed by such sovereign nation (or any agency thereof), in each case maturing within one year after such date, (x) investments of the type and maturity described in clauses (i) through (iv) above of Subsidiaries that are not U.S. Subsidiaries (with, in the case of clauses (i) and (ii), the references to Canada or the United States to also include the sovereign nation thereof), which Investments have ratings described in such clauses or equivalent ratings from comparable foreign rating agencies, (y) repurchase obligations for underlying securities of the types described in clauses (i), (ii) and (iii) above (as modified pursuant to clause (x) above) entered into with any bank meeting the qualifications specified in clause (iii) above and (z) shares of money

14




market mutual or similar funds which invest exclusively in assets otherwise satisfying the requirements of this definition (including this proviso).
Cash Management Agreement” means any agreement or arrangement to provide treasury, depository, overdraft, credit or debit card, purchase card, electronic funds transfer (including automated clearinghouse transfer services) and other cash management services entered into with a Lender Counterparty.
Certificate re Non‑Bank Status” means a certificate substantially in the form of Exhibit D.
Change of Control” means, (i) any Person or “group” (within the meaning of Rules 13d‑3 and 13d‑5 under the Exchange Act) (a) shall have acquired beneficial ownership or control of 35.0% or more on a fully diluted basis of the voting interest in the Equity Interests of the U.S. Borrower or (b) shall have obtained the power (whether or not exercised) to elect a majority of the members of the Board of Directors of the U.S. Borrower, (ii) the majority of the seats (other than vacant seats) on the Board of Directors of the U.S. Borrower cease to be occupied by Continuing Directors, (iii) the U.S. Borrower shall cease to own, directly or indirectly, 100% of the Equity Interests of the European Borrower or (iv) any “change of control” (or similar event, however denominated) shall occur under and as defined in any indenture or agreement in respect of Material Indebtedness of any Borrower.
China JV” means TH Asia Limited, a Hong Kong company limited by shares.
CGMIhas the meaning specified in the preamble hereto.means Citigroup Global Markets Inc.
CK Distribution” means a CK Distribution as such term is defined in the CKI Intercreditor Agreement.
CK Letter Agreement” means that certain letter agreement, dated April 7, 2010 by and between the U.S. Borrower and Mr. Calvin Klein.
CKI” means Calvin Klein, Inc., a New York corporation.
CKI Affiliates” means CK Service Corp. and any Person that becomes a Subsidiary of CKI or CK Service Corp. after the Closing Date.
CKI Amount” means, for any period, the Design Services Purchase Payments, as defined in and paid or payable by any Group Member to Mr. Calvin Klein or the Klein heirs for such period pursuant to the CKI Stock Purchase Agreement.
CKI and Debenture Obligations” means the “First Lien Obligations” as defined in the CKI Intercreditor Agreement.
CKI Blockage Event” means the commencement of a Blockage Period, as defined in the CKI Intercreditor Agreement.
CKI Collateral Agent” means The Bank of New York Mellon Trust Company, N.A., as collateral agent under the CKI Security Agreement, and its successors in such capacity.

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CKI Documents” means the CKI Stock Purchase Agreement, the CKI Security Agreement, the CKI Pledgor Guarantees, the CKI Intercreditor Agreement and the CKI Intercreditor Joinder Agreement.
CKI Intercreditor Agreement” means that certain CK Intercreditor Agreement dated May 6, 2010, among the Collateral Agent and the CKI Collateral Agent, as such agreement may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms hereof.
CKI Intercreditor Joinder Agreement” means that certain Joinder Agreement to CK Intercreditor Agreement, dated as of February 12, 2013 and effective as of the Closing Date, entered into by the Collateral Agent.
CKI Liquidated Damages Amount” means the Liquidated Damages Amount as such term is defined in the CKI Stock Purchase Agreement as of the Closing Date.
CKI Obligations” means all obligations of every nature of the U.S. Borrower, CKI and the CKI Affiliates under or with respect to the CKI Documents.
CKI Pledgor Guarantees” means the Pledgor Guarantees, as the same may be amended, restated, supplemented or otherwise modified from time to time, into which each of CKI and CK Service Corp. has entered, and certain CKI Affiliates may enter from time to time after the Closing Date, pursuant to which CKI and CK Service Corp. and, if any, the CKI Affiliates party thereto have guaranteed the payment in full of the U.S. Borrower’s obligations under the CKI Stock Purchase Agreement.
CKI Related Assets Pledge and Security Agreement” means the CKI Related Assets Pledge and Security Agreement, dated as of the Closing Date, among the U.S. Borrower, CKI and the CKI Affiliates in favor of the Collateral Agent, as it may be amended, restated, supplemented or otherwise modified from time to time.
CKI Security Agreement” means that certain Amended and Restated Pledge and Security Agreement, dated as of May 6, 2010, among the U.S. Borrower, CKI, the CKI Affiliates, the CKI Collateral Agent and Mr. Calvin Klein, pursuant to which a First Priority Lien shall have been granted to the CKI Collateral Agent on the Equity Interests in CKI and the CKI Affiliates and on any other assets of CKI and the CKI Affiliates named therein, to secure the CKI Obligations as it may be amended, restated, supplemented or otherwise modified from time to time.
CKI Stock Purchase Agreement” means the Stock Purchase Agreement, dated as of December 17, 2002, among the U.S. Borrower, CKI, the CKI Affiliates and the sellers named therein, as it may be amended, restated, supplemented or otherwise modified from time to time.
CKI Trust” means the trust established pursuant to the Delaware Business Trust Act, as amended, and the CKI Trust Agreement.
CKI Trust Agreement” means the Trust Agreement, dated as of March 14, 1994, between CKI and Wilmington Trust Company, relating to the CKI Trust, and the other agreements related thereto.

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Class” means (i) with respect to Lenders, each of the following classes of Lenders: (a) Lenders having Tranche A Term Loan Exposure, (b) Lenders having Tranche B Term Loan Exposure, (c) Lenders having U.S. Revolving Exposure (including the U.S. Swing Line Lender), (dc) Lenders having European Revolving Exposure, (ed) Lenders having Canadian Revolving Exposure (including the Canadian Swing Line Lender) and (fe) Lenders having Incremental Term Loan Exposure of each applicable Series, and (ii) with respect to Loans, each of the following classes of Loans: (a) Tranche A Term Loans, (b) Tranche B Term Loans, (c) U.S. Revolving Loans (including U.S. Swing Line Loans), (dc) European Revolving Loans, (ed) Canadian Revolving Loans (including Canadian Swing Line Loans) and (fe) each Series of Incremental Term Loans.
Closing Date” means February 13, 2013.
Closing Date Ancillary Facility” means any Ancillary Facility, under and as defined in the Existing PVH Credit Agreement, existing on the Closing Date and listed on Schedule 2.26.
Closing Date Certificate” means a Closing Date Certificate substantially in the form of Exhibit E‑1.
Closing Date Mortgaged Property” means each Real Estate Asset listed on Schedule 3.01(e).
Closing Date Transactions” means the Acquisition, the repayment or refinancing of the Existing Credit Facilities Indebtedness, the issuance of the 2022 Notes, the entry into the Original Credit Agreement and the other Loan Documents and the initial borrowing of the Loans under the Original Credit Agreement on the Closing Date, the issuance of equity securities in connection with the Acquisition, all transactions in connection with or related to the foregoing and the payment of fees, costs and expenses relating to each of the foregoing.
Collateral” means, collectively, all of the real, personal and mixed property (including Equity Interests) in which Liens are purported to be granted pursuant to the Security Documents as security for the Obligations.
Collateral Agent” has the meaning specified in the preamble hereto.
Commitment” means any Revolving Commitment or Term Loan Commitment.
Commodity Agreement” means any and all commodity swap agreements, cap agreements, collar agreements, floor agreements, exchange agreements, forward contracts, option contracts or other similar agreement or arrangement, each of which is for the purpose of hedging the commodity exposure associated with the operations of the Group and not for speculative purposes.
Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.
Compliance Certificate” means a Compliance Certificate substantially in the form of Exhibit C.
Confidential Information Memorandum” means the Confidential Information Memorandum of the U.S. Borrower, dated as of November 2012.

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Consent Solicitation” means the solicitation of consents to certain amendments to the 2020 Notes Documents to increase the amount of senior secured debt permitted to be incurred by the U.S. Borrower and its Subsidiaries thereunder.
Consolidated Adjusted EBITDA” means, for any period, an amount determined for the Group on a consolidated basis equal to (i) Consolidated Net Income, plus, to the extent reducing Consolidated Net Income, the sum, without duplication, of amounts for (a) consolidated interest expense, (b) provisions for taxes based on income, profits or capital, (c) total depreciation expense, (d) total amortization expense, (e) other non-cash charges (including, without limitation, any non-cash charges related to writing up inventory in connection with the Acquisition, but excluding any non-cash charge to the extent that it represents an accrual of or reserve for cash expenditures in any future period), (f) all amounts in respect of extraordinary, unusual or non-recurring losses, expenses or charges (including, without limitation, (A) any fees, expenses or charges associated with or related to any restructurings (including restructuring related to the Acquisition and, for the avoidance of doubt, the effect of retention, headcount reductions, systems establishment costs, contract termination costs and excess pension charges), (B) any fees, expenses or charges relating to plant shutdowns, facility consolidations, business exits and discontinued operations, (C) acquisition integration costs, (D) any (i) severance, other employee termination benefits or relocation costs, expenses or charges, (ii) one-time non-cash compensation charges recorded from grants of stock options, restricted stock, restricted stock units, performance shares, stock appreciation rights and other equity-based awards, in each case to officers, directors and employees, (iii) the costs and expenses after the Closing Date relating to the employment of terminated employees, (iv) lease termination costs and (v) fees, expenses, charges or change in control payments which, in each case under clauses (A) through (D) (other than clause (D)(ii)), shall, if realized in connection with, resulting from, related to or in anticipation of the Acquisition, not exceed $200,000,000 in the aggregate and (E) any expenses or charges relating to any offering of Equity Interests, Permitted Acquisition, or any Investment or Indebtedness permitted under this Agreement, in each case under this clause (E), whether or not successful), (g) any financial advisory fees, accounting fees, legal fees and other similar advisory and consulting fees and related out-of-pocket expenses incurred by any Group Member as a result of the Closing Date Transactions or the Consent Solicitation, in an aggregate amount not to exceed $75,000,000, (h) with respect to any four-Fiscal Quarter measurement period ending on or prior to the end of the 12 full Fiscal Quarters following the Closing Date, the amount of cost savings and other operating improvements and synergies projected by the U.S. Borrower in good faith to be realized as a result of actions taken or anticipated to be taken no later than the eight full Fiscal Quarters following the Closing Date in connection with or as a result of the Acquisition (calculated on a pro forma basis as though such cost savings and other operating improvements and synergies had been realized on the first day of such period), without duplication of the amount of actual benefits realized during such period from such actions to the extent already included in the Consolidated Net Income for such period, in an aggregate amount not to exceed $100,000,000 for any four-Fiscal Quarter measurement period, (i) losses on agreements with respect to Hedge Agreements and any related tax gains, in each case incurred in connection with or as a result of the Acquisition, and (j) non-cash losses on agreements with respect to Hedge Agreements, minus, (ii) to the extent included in calculating Consolidated Net Income, the sum of (a) all amounts in respect of extraordinary, unusual or nonrecurring gains, (b) gains on agreements with respect to

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Hedge Agreements and any related tax gains, in each case incurred in connection with or as a result of the Acquisition, (c) non-cash gains on agreements with respect to Hedge Agreements, (d) cash payments made during such period with respect to non-cash charges that were added back pursuant to clause (e) above in a prior period, and (e) other non-cash gains increasing Consolidated Net Income for such period (excluding any such non-cash gain to the extent it represents the reversal of an accrual or reserve for potential cash gain in any prior period). For the avoidance of doubt, Consolidated Adjusted EBITDA shall be calculated to exclude any gain resulting from any debt repurchase (including, for the avoidance of doubt, repurchases of Loans under Section 2.13(c) or repurchases of the 2023 Debentures).
In addition, for purposes of making the calculation referred to above, acquisitions (including the Acquisition), Investments, dispositions, mergers, consolidations, operational improvements and discontinued operations (as determined in accordance with GAAP) that have been made by any Group Member, including through mergers or consolidations and including any related financing transactions, during the relevant period or subsequent to such period and on or prior to the date of such calculation (the “relevant transaction”), shall be deemed to have occurred on the first day of the relevant period and (without duplication of the pro forma adjustments provided for in the immediately preceding paragraph with respect to the Acquisition) such calculation shall be made giving pro forma effect to any cost savings and other operating improvements and synergies in connection with such relevant transaction (without duplication of actual benefits realized during such period from the same) that are (a) factually supportable and determined in good faith by the U.S. Borrower, as certified in an officer’s certificate signed by an Authorized Officer and (b) do not exceed the actual cost savings expected in good faith to be realized by the Group over the 12-month period following such relevant transaction.
Consolidated Capital Expenditures” means, for any period, the aggregate of all expenditures of the Group during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment” or similar items reflected in the consolidated statement of cash flows of the Group; provided, that Consolidated Capital Expenditures shall not include any expenditures (i) for replacements and substitutions of fixed assets, capital assets or equipment to the extent made with Net Cash Proceeds invested pursuant to Section 2.14(a) or 2.14(b) or (ii) which constitute a Permitted Acquisition under Section 6.08.
Consolidated Cash Interest Expense” means, for any period, total interest expense payable in cash in such period (including that portion attributable to Capital Leases in accordance with GAAP) of the Group on a consolidated basis with respect to all outstanding Indebtedness of the Group (net of cash interest income), excluding, however, any one time financing fees (to the extent included in such Person’s consolidated interest expense for such period).
Consolidated Current Assets” means, as at any date of determination, the total assets of the Group on a consolidated basis that may properly be classified as current assets in conformity with GAAP, excluding cash and Cash Equivalents.
Consolidated Current Liabilities” means, as at any date of determination, the total liabilities of the Group on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt.

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Consolidated Excess Cash Flow” means, for any period, an amount (if positive) equal to:
(i)    the sum, without duplication, of the amounts for such period of (a) Consolidated Net Income, (b) to the extent reducing Consolidated Net Income, the sum, without duplication, of amounts for non-cash charges reducing Consolidated Net Income, including for depreciation and amortization (excluding any such non-cash charge to the extent that it represents an accrual or reserve for potential cash charge in any future period or amortization of a prepaid cash charge that was paid in a prior period) and (c) the Consolidated Working Capital Adjustment, minus
(ii)    the sum, without duplication, of (a) the amounts for such period paid in cash of (1) scheduled repayments of Indebtedness to the extent actually made (excluding for the avoidance of doubt, repayments of revolving loans or swing line loans except to the extent the related revolving commitments are permanently reduced in connection with such repayments and any purchases (or repayments in connection therewith) of Loans pursuant to Section 2.13(c)) and scheduled repayments of obligations under Capital Leases (excluding any interest expense portion thereof), (2) Consolidated Capital Expenditures, and (3) to the extent actually declared, Restricted Payments permitted by Section 6.04(d), and (b) other non-cash gains increasing Consolidated Net Income for such period (excluding any such non-cash gain to the extent it represents the reversal of an accrual or reserve for potential cash gain in any prior period).
Consolidated Net Income” means, for any period, (i) the net income (or loss) of the Group on a consolidated basis for such period taken as a single accounting period determined in conformity with GAAP, minus (ii) (a) the net income of any Person (other than a Group Member) in which any other Person (other than a Group Member) has a joint interest to the extent that the declaration or payment of dividends or similar distributions by that Person of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Person, (b) the loss, if applicable, of any Person (other than a Group Member) in which any other Person (other than a Group Member) has a joint interest, (c) to the extent included in net income, the income (or loss) of any Person accrued prior to the date it becomes a Group Member or is merged into or consolidated with the Group or that Person’s assets are acquired by any Group Member, (d) the income of any Subsidiary of the U.S. Borrower to the extent that the declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary, (e) any after‑tax non-cash gains (or losses) attributable to Asset Sales or returned surplus assets of any Pension Plan, (f) the CKI Amount and the Itochu Amount to the extent not already reducing net income; provided that, if during any period, the U.S. Borrower or any of its Subsidiaries repays the Itochu Amount in whole, then for such period, the excess of the amount of such amounts repaid over the regularly scheduled payment of the Itochu Amount for such period shall not reduce net income, (g) the non-cash income (or loss) related to one-time and ongoing mark-to-market gains (or losses) with respect to the pension or postretirement plans of any Group Member resulting from a change in accounting principle prior to or after the Closing Date

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and (h) (to the extent not included in clauses (a) through (g) above) any net extraordinary gains or net extraordinary losses. For the avoidance of doubt, cash amounts used by the Borrowers to make purchases of debt (including purchases of Loans under Section 2.13(c) and purchases of the 2023 Debentures) shall not reduce Consolidated Net Income, nor will any non-cash gain associated with the cancellation of such purchased debt increase Consolidated Net Income.
Consolidated Total Assets” means as of any date of determination, the total assets of the Group, determined in accordance with GAAP, as set forth on the consolidated balance sheet of the U.S. Borrower as of such date (which calculation shall give pro forma effect to any acquisition or Asset Sale by any Group Member, in each case involving the payment or receipt by any Group Member of consideration (whether in the form of cash or non-cash consideration) in excess of $100,000,000 that has occurred since the date of such consolidated balance sheet, as if such acquisition or Asset Sale had occurred on the last day of the fiscal period covered by such balance sheet).
Consolidated Total Net Debt” means, as at any date of determination, (a) the aggregate stated balance sheet amount of all Indebtedness of the Group (or, if higher, the par value or stated face amount of all such Indebtedness (other than zero-coupon Indebtedness)), determined on a consolidated basis in accordance with GAAP, exclusive of any contingent liability in respect of any letter of credit, plus (b) to the extent not included in clause (a), any Indebtedness relating to securitization of receivables generated by the Group (whether or not such Indebtedness is on the balance sheet of the Group), minus (c) Unrestricted Cash of the Group as of such date, in an aggregate amount not to exceed $350,000,000. For the avoidance of doubt, Consolidated Total Net Debt will be calculated to exclude all Indebtedness of the Group to ITOCHU Corporation pursuant to the Itochu Agreement or otherwise related to such agreement and all Indebtedness of the Group pursuant to the CKI Documents.
Consolidated Working Capital” means, as at any date of determination, the excess of Consolidated Current Assets of the Group over Consolidated Current Liabilities of the Group.
Consolidated Working Capital Adjustment” means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period. In calculating the Consolidated Working Capital Adjustment there shall be excluded the effect of reclassification during such period of current assets to long term assets and current liabilities to long term liabilities and the effect of any Permitted Acquisition during such period; provided, that there shall be included with respect to any Permitted Acquisition during such period an amount (which may be a negative number) by which the Consolidated Working Capital acquired in such Permitted Acquisition as at the time of such acquisition exceeds (or is less than) Consolidated Working Capital at the end of such period.
Contingent Liability” means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the Indebtedness of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the

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payment of dividends or other distributions upon the Equity Interests of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation with respect thereto) be deemed to be the outstanding principal amount of the debt, obligation or other liability guaranteed thereby.
Continuing Directors” means individuals who on the Closing Date constituted the Board of Directors of the U.S. Borrower (together with any new directors whose election by such Board of Directors or whose nomination for election by the stockholders of the U.S. Borrower was approved by a vote of a majority of the directors of the U.S. Borrower then still in office who were either directors on the Closing Date or whose election or nomination for election was previously so approved).
Contractual Obligation” means, as applied to any Person, any provision of any Security issued by that Person or of any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject.
Contributing Guarantors” has the meaning set forth in Section 7.02(b).
Conversion/Continuation Date” means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.
Conversion/Continuation Notice” means a Conversion/Continuation Notice substantially in the form of Exhibit A‑2.
Copyrights” has the meaning set forth in the U.S. Pledge and Security Agreement.
Counterpart Agreement” means a Counterpart Agreement substantially in the form of Exhibit F-1 or Exhibit F-2, as applicable, delivered by a Loan Party pursuant to Section 5.11 or by an Ancillary Borrower pursuant to Section 10.26.
Covenant Transaction” has the meaning set forth in Section 1.04(c).
Credit Date” means the date of a Credit Extension.
Credit Extension” means the making of a Loan or the issuing of a Letter of Credit.
Crown” means the government of Canada, any provincial or territorial government therein and any of their political subdivisions.
Currency Agreement” means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement, each of which is for the purpose of hedging the foreign currency risk of the Group and not for speculative purposes.
Debtor Relief Law” means the Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, examinership, reorganization or similar debtor relief laws of the United States or other Relevant Jurisdiction from time to time in effect and affecting the rights of creditors generally.

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Default” means a condition or event that, after notice or lapse of time or both, would constitute an Event of Default.
Default Rate” has the meaning set forth in Section 2.10.
Defaulting Lender” means any Lender that has (a) failed to fund any portion of its Revolving Commitment within three Business Days of the date required to be funded by it hereunder, (b) notified the Borrower Representative, the Administrative Agent or any Lender in writing, or has otherwise indicated through a public statement, that it does not intend to comply with its funding obligations hereunder and generally under agreements in which it commits to extend credit, (c) failed, within three Business Days after receipt of a written request from the Administrative Agent, to confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Revolving Commitments, (d) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within three Business Days of the date when due, unless the subject of a good faith dispute or, (e) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, custodian, administrator, examiner, liquidator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, custodian, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment, or (f) become the subject of a Bail-In Action; provided that a Lender shall not qualify as a Defaulting Lender solely as a result of the acquisition or maintenance of an ownership interest in such Lender or its parent company, or of the exercise of control over such Lender or any Person controlling such Lender, by a Governmental Authority or instrumentality thereof; provided that if the Borrower Representative, the Administrative Agent, the applicable Swing Line Lender and the applicable Issuing Bank agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateralization of Letters of Credit and/or Swing Line Loans), that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the obligations of the Swing Line Lender and/or the Issuing Bank and the funded and unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares (without giving effect to Section 2.22), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

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Defaulting Revolving Lender” has the meaning set forth in Section 2.22.
Designated Gross Amount” has the meaning set forth in Section 2.26(b)(ii).
Designated Net Amount” has the meaning set forth in Section 2.26(b)(ii).
Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or is mandatorily redeemable (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests), pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests), in whole or in part, (iii) provides for scheduled payments of dividends in cash or (iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the then latest Term Loan Maturity Date, except, in the case of clauses (i) and (ii), if as a result of a change of control or asset sale, so long as any rights of the holders thereof upon the occurrence of such a change of control or asset sale event are subject to the prior Payment in Full of all Obligations.
Documentation AgentAgents” means Royal Bank of Canada, and, in connection with the Second Amendment, JPMorgan as Documentation AgentAgents, together with itstheir permitted successors in such capacity; provided, however, that as and to the extent necessary to preserve the rights and obligations pursuant to Article IX hereof or otherwise pursuant to the provisions hereof of Credit Suisse Securities (USA) LLC, as Documentation Agent under the Original Credit Agreement, “Documentation Agent” shall also refer to Credit Suisse Securities (USA) LLC in its capacity as such.
Dollar Equivalent” means, with respect to an amount denominated in Dollars, such amount, and with respect to an amount denominated in any other Approved Currency, the equivalent in Dollars of such amount determined at the Exchange Rate on the applicable Valuation Date. In making the determination of the Dollar Equivalent for purposes of determining the aggregate available Canadian Revolving Commitments on any Credit Date, the Administrative Agent shall use the Exchange Rate in effect at the date on which any U.S. Borrower requests the extension of credit for such Credit Date pursuant to the provisions of this Agreement.
Dollars” and the sign “$” mean the lawful money of the United States of America.
Dutch Security Agreements” means (i) the Dutch law deed of pledge over partnership interests in Trumpet C.V., dated the Closing Date, by and among BassNet, Inc. and PVH Prince C.V. Holding Corp., as pledgors, the Collateral Agent, as pledgee, and Trumpet C.V. as the partnership, (ii) the Dutch law deed of pledge over a partnership interest in Arrow C.V., dated the Closing Date, by and among Tommy Hilfiger U.S.A., Inc., as pledgor, the Collateral Agent, as pledgee, and Arrow C.V., as the partnership, (iii) the Dutch law deed of pledge over partnership interests in Tommy Holding C.V., dated the Closing Date, by and among Tommy Hilfiger U.S.A., Inc. and the U.S. Borrower, as pledgors, the Collateral Agent, as pledgee, and Tommy Holding C.V., as the partnership and (iv) any other Dutch law deed of pledge of shares over the shares in any other Dutch entities directly

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owned by the U.S. Borrower or any other U.S. Loan Party required pursuant to Section 7.14 of the agreements described in the preceding clauses (i) through (iii).
“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.
“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
“EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
Eligible Assignee” means any Person other than a natural Person that is (i) a Lender, an Affiliate of any Lender or a Related Fund (any two or more Related Funds being treated as a single Eligible Assignee for all purposes hereof), or (ii) a commercial bank, insurance company, investment or mutual fund, European Credit Management Limited (ECM) programs or other entity that is an “accredited investor” (as defined in Regulation D under the Securities Act) and which extends credit or buys loans in the ordinary course of business; provided, that neither any Loan Party nor any Affiliate thereof, nor any Defaulting Lender, shall be an Eligible Assignee.
Employee Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of ERISA which is or was sponsored, maintained or contributed to by, or required to be contributed by, the Group or any of their respective ERISA Affiliates or with respect to which the Group or any of their respective ERISA Affiliates has or would reasonably be expected to have liability, contingent or otherwise, under ERISA.
Engagement Letter” means that engagement letter, dated as of February 21, 2014, among the U.S. Borrower, the Arrangers and the Bookrunners.
Environmental Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order, decree or directive (conditional or otherwise) by any Governmental Authority or any other Person, arising (i) pursuant to any Environmental Law, (ii) in connection with any actual or alleged violation of, or liability pursuant to, any Environmental Law, (iii) in connection with any Hazardous Material, including the presence or Release of, or exposure to, any Hazardous Materials and any abatement, removal, remedial, corrective or other response action related to Hazardous Materials or (iv) in connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment.
Environmental Laws” means any and all current or future foreign or domestic, federal, state or local laws (including any common law), statutes, ordinances, orders, rules, regulations, judgments or any other requirements of Governmental Authorities relating to or imposing liability or standards of conduct with respect to (i) environmental matters, (ii) the generation, use, storage, transportation or disposal of, or exposure to, Hazardous Materials; or (iii) occupational safety and health, industrial

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hygiene, land use or the protection of human, plant or animal health or welfare, in any manner applicable to any Group Member or any Facility.
Equity Interests” means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including partnership interests and membership interests, and any and all warrants, rights or options to purchase or other arrangements or rights to acquire any of the foregoing.
ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, the regulations promulgated thereunder and any successor thereto.
ERISA Affiliate” means, as applied to any Person, (i) any corporation which is a member of a controlled group of corporations within the meaning of Section 414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business (whether or not incorporated) which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group within the meaning of Section 414(m) or (o) of the Internal Revenue Code of which that Person, any corporation described in clause (i) above or any trade or business described in clause (ii) above is a member. Any former ERISA Affiliate of any Group Member shall continue to be considered an ERISA Affiliate of such Group Member within the meaning of this definition with respect to the period such entity was an ERISA Affiliate of such Group Member and with respect to liabilities arising after such period for which such Group Member could be liable under the Internal Revenue Code or ERISA.
ERISA Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with respect to any Pension Plan (excluding those for which the provision for 30‑day notice to the PBGC has been waived by a regulation in effect on the Closing Date); (ii) the failure to meet the minimum funding standard of Section 412 or 430 of the Internal Revenue Code or Section 302 or 303 of ERISA with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Internal Revenue Code or Section 302(c) of ERISA) or the failure to make by its due date a required installment under Section 430(j) of the Internal Revenue Code with respect to any Pension Plan or the failure to make any required contribution to a Multiemployer Plan; (iii) a determination by the Pension Plan’s actuary that any Pension Plan is, or is expected to be, in “at risk” status (as defined in Section 430 of the Internal Revenue Code or Section 303 of ERISA); (iv) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described in Section 4041(c) of ERISA; (v) a determination under and in accordance with said sections that any Multiemployer Plan is, or is expected to be, in “critical” or “endangered” status under Section 432 of the Internal Revenue Code or Section 305 of ERISA; (vi) the withdrawal by any Group Member or any of its ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability to any Group Member or any of its Affiliates pursuant to Section 4063 or 4064 of ERISA; (vii) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event or condition which is reasonably likely to constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (viii) the imposition of liability on any

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Group Member or any of its ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (ix) the withdrawal of any Group Member or any of its ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any potential liability therefor, or the receipt by any Group Member or any of its ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA; (x) the imposition of a Lien pursuant to Section 430(k) of the Internal Revenue Code or Section 303(k) of ERISA or a violation of Section 436 of the Internal Revenue Code with respect to any Pension Plan; (xi) the occurrence of any Foreign Plan Event or (xii) any other event or condition with respect to an Employee Benefit Plan with respect to which any Group Member is likely to incur liability other than in the ordinary course.
“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.
Euro” or “” means the single currency of the European Union as constituted by the Treaty on European Union and as referred to in the legislative measures of the European Union for the introduction of, changeover to or operation of the Euro in one or more member states, being in part legislative measures to implement the European and Monetary Union as contemplated in the Treaty on European Union.
Euro Equivalent” means, with respect to an amount denominated in Euros, such amount, and with respect to an amount denominated in Dollars or any Other Foreign Currency, the equivalent in Euros of such amount determined at the Exchange Rate on the applicable Valuation Date. In making the determination of the Euro Equivalent for purposes of determining the aggregate available European Revolving Commitments on any Credit Date, the Administrative Agent shall use the Exchange Rate in effect at the date on which the European Borrower requests the extension of credit for such Credit Date pursuant to the provisions of this Agreement.
Eurocurrency Rate Loan” means a Loan bearing interest at a rate determined by reference to the Adjusted Eurocurrency Rate.
European Borrower” has the meaning specified in the preamble hereto.
European Guaranteed Obligations” has the meaning set forth in Section 7.01(b).
European Guarantor” means Tommy Hilfiger Europe B.V.
European Issuing Bank” means an Issuing Bank that has agreed to issue European Letters of Credit.
European Letter of Credit” means any Bank Guarantee or any commercial or standby letter of credit issued or to be issued by an Issuing Bank for the account of any Foreign Subsidiary pursuant to Section 2.04(a)(ii) of this Agreement, and any letter of credit issued and outstanding as of the Closing Date and designated by the Borrower Representative as a “European Letter of Credit” pursuant to a written notice delivered to the Administrative Agent on or prior to the Closing Date; provided that the issuer thereof is a Revolving Lender hereunder. Each such letter of credit so

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designated shall be deemed to constitute a European Letter of Credit and a Letter of Credit issued hereunder on the Closing Date for all purposes under this Agreement and the other Loan Documents.
European Letter of Credit Sublimit” means the lesser of (a) €125,000,000 and (b) the aggregate unused amount of the European Revolving Commitments then in effect.
European Letter of Credit Usage” means, as at any date of determination, the sum of (i) the Euro Equivalent of the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all European Letters of Credit then outstanding, and (ii) the Euro Equivalent of the aggregate amount of all drawings under European Letters of Credit honored by an Issuing Bank and not theretofore reimbursed by or on behalf of the European Borrower.
European Loan Party” means the European Borrower and the European Guarantor.
European Obligations” means the Obligations in respect of any European Revolving Loan and any other Obligations of the European Borrower and the European Guarantor.
European Revolving Commitment” means the commitment of a Lender to make or otherwise fund any European Revolving Loan and to acquire participations in European Letters of Credit hereunder, as reduced by the amount of any Ancillary Commitment, and “European Revolving Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s European Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the European Revolving Commitments as of the RestatementSecond Amendment Date is €185,850,000.
European Revolving Commitment Period” means the period from and including the Closing Date to but excluding the European Revolving Commitment Termination Date.
European Revolving Commitment Termination Date” means the earliest to occur of (i) the sixthfifth anniversary of the ClosingSecond Amendment Date, which date is February 13, 2019,May 19, 2021, (ii) the date thesuch European Revolving Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14 and (iii) the date of the termination of thesuch European Revolving Commitments pursuant to Section 8.01.
European Revolving Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of thesuch Lender’s European Revolving Commitments, that Lender’s European Revolving Commitment; and (ii) after the termination of thesuch Lender’s European Revolving Commitments, the sum of (a) the Euro Equivalent of the aggregate outstanding principal amount of the European Revolving Loans of that Lender, (b) in the case of an Issuing Bank, the Euro Equivalent of the aggregate European Letter of Credit Usage in respect of all European Letters of Credit issued by such Issuing Bank (net of any participations by Lenders in such European Letters of Credit), (c) the Euro Equivalent of the aggregate amount of all participations by that Lender in any outstanding European Letters of Credit or any unreimbursed drawing under any European Letter of Credit and (d) the Euro Equivalent of the aggregate amount of all amounts borrowed from such Lender under any Ancillary Facility pursuant to Section 2.26.

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European Revolving Loan” means Loans made by a Lender in respect of its European Revolving Commitment to the European Borrower pursuant to Section 2.02(b) and/or Section 2.24.
Event of Default” means any of the conditions or events set forth in Section 8.01.
Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.
Exchange Rate” means the rate at which any currency (the “Original Currency”) may be exchanged into Dollars, Euros or another currency (the “Exchanged Currency”), as set forth on such date on the relevant Reuters screen at or about 11:00 a.m. (London, England time) on such date. In the event that such rate does not appear on the Reuters screen, the “Exchange Rate” with respect to such Original Currency into such Exchanged Currency shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower Representative or, in the absence of such agreement, such “Exchange Rate” shall instead be the Administrative Agent’s spot rate of exchange in the interbank market where its foreign currency exchange operations in respect of such Original Currency are then being conducted, at or about 11:00 a.m. (local time), on such date for the purchase of the Exchanged Currency, with such Original Currency for delivery two Business Days later; provided, that if at the time of any such determination, no such spot rate can reasonably be quoted, the Administrative Agent may use any reasonable method as it deems applicable to determine such rate, and such determination shall be conclusive absent manifest error.
Excluded Swap Obligation” means, with respect to any Guarantor, (x) as it relates to all or a portion of the Guarantee of such Guarantor, any Swap Obligation if, and to the extent that, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Guarantor becomes effective with respect to such Swap Obligation or (y) as it relates to all or a portion of the grant by such Guarantor of a security interest, any Swap Obligation if, and to the extent that, such Swap Obligation (or such security interest in respect thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the security interest of such Guarantor becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal.
Excluded Taxes” means (i) any Tax imposed on the overall net income of a Person (or franchise tax or minimum tax imposed in lieu thereof) by the jurisdiction in which that Person is organized or in which that Person’s principal office (and/or, in the case of a Lender, its applicable lending office) is located or with which that Person has a present or former connection (other than any

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connection arising solely from the acquisition and holding of any Loan and/or Commitment (including entering into or being a party to this Agreement), the receipt of payments relating thereto, and/or the exercise of rights and remedies under this Agreement or any other Loan Document); (ii) with respect to any Lender to a U.S. Loan (other than a Lender that becomes a Lender pursuant to Section 2.23), any Tax imposed pursuant to the laws of the United States of America or any political subdivision thereof or therein that would apply if any payment were made under any of the Loan Documents to such Lender on the day such Lender becomes a Lender (or designates a new lending office), except to the extent such Lender’s assignor (or such Lender, when it designates a new lending office) was entitled to receive additional amounts pursuant to Section 2.20; (iii) with respect to any Lender, any withholding Tax that is imposed on any payment to such Lender on the day that such Lender becomes a Lender (or designates a new lending office) by any jurisdiction, excluding any jurisdiction (other than the United States of America or any political subdivision thereof, which shall be governed by clause (ii) hereof) that would not have imposed such Tax but for the fact that any of the Loan Parties is organized or has its principal office located in such jurisdiction, or has a present or former connection with, or makes or causes to be made any payment under any Loan Document through, such jurisdiction on behalf of any Loan Party, except to the extent such Lender’s assignor (or such Lender, when it designates a new lending office) was entitled to receive additional amounts pursuant to Section 2.20; (iv) any Tax that is attributable to a Lender’s failure to comply with Section 2.20(c) or (v) any U.S. federal withholding Tax imposed by reason of a Lender’s failure to comply with the requirements of Sections 1471 through 1474 of the Code (as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with)), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code or any legislation or other official guidance or official requirements adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (“FATCA”).
Existing Credit Facilities Indebtedness” means Indebtedness and other obligations outstanding under (i) the Existing PVH Credit Agreement and (ii) the Existing Warnaco Credit Facilities.
Existing PVH Credit Agreement” means that certain Amended and Restated Credit and Guaranty Agreement, dated as of March 2, 2011, among PVH Corp., Tommy Hilfiger B.V., certain subsidiaries of the PVH Corp. party thereto as guarantors, the lenders party thereto from time to time and Barclays Bank PLC, as administrative agent and collateral agent.
Existing Warnaco Credit Facilities” means (i) that certain Term Loan Agreement, dated as of June 17, 2011, among Warnaco Inc., Calvin Klein Jeanswear Company, Warnaco Swimwear Products Inc., the Acquired Business, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, (ii) that certain Credit Agreement, dated as of August 26, 2008 (as amended on June 17, 2011 and November 11, 2011), among Warnaco Inc., the Acquired Business, the lenders and issuers party thereto, Bank of America, N.A., as administrative agent and collateral agent and (iii) that certain Credit Agreement, dated as of August 26, 2008 (as amended on June 17, 2011 and November 11, 2011), among Warnaco of Canada Company, the Acquired Business, the lenders and issuers party thereto, Bank of America, N.A., as administrative agent and collateral agent.

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Facility” means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by any Group Member or any of its predecessors or Affiliates.
Fair Share” has the meaning set forth in Section 7.02(b).
Fair Share Contribution Amount” has the meaning set forth in Section 7.02(b).
FATCA” has the meaning set forth in the definition of “Excluded Taxes”.
FDIC” means the Federal Deposit Insurance Corporation and any successor thereto.
Federal Funds Effective Rate” means for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided, that (i) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (ii) if no such rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate for such day shall be the average rate charged to the Administrative Agent, in its capacity as a Lender, on such day on such transactions as determined by the Administrative Agent.
Financial Officer Certification” means, with respect to the financial statements for which such certification is required, the certification of the principal financial officer of the U.S. Borrower that such financial statements fairly present, in all material respects, the financial condition of the Group at the dates indicated and the results of their operations and their cash flows for the periods indicated, subject to changes resulting from audit and normal year‑end adjustments.
Financial Plan” has the meaning set forth in Section 5.01(h).
First Amendment” means that certain First Amendment to Credit Agreement, dated as of March 21, 2014, by and among the Borrowers, the Guarantors party thereto, the Lenders party thereto, each Issuing Bank party thereto and Barclays Bank PLC, as administrative agent and collateral agent under the Original Credit Agreement.
First Amendment Tranche A Term Loan Commitment” means the commitment of a Lender to make or otherwise to fund a Tranche A Term Loan on the Restatement Date. The aggregate amount of each Lender’sthe First Amendment Tranche A Term Loan Commitment, if any, is set forth on Schedule 1.01(a) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the First Amendment Tranche A Term Loan Commitments as of the Restatement Date is $350,000,000.was $350,000,000 and is $0 as of the Second Amendment Date.
First Amendment Tranche B Term Loan Commitment” means the commitment of a Lender to make or otherwise to fund a Tranche B Term Loan on the Restatement Date. The amount of each Lender’s First Amendment Tranche B Term Loan Commitment, if any, is set forth on Schedule 1.01(b) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to

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the terms and conditions hereof. The aggregate amount of the First Amendment Tranche B Term Loan Commitments as of the Restatement Date is $250,000,000.was $250,000,000 and is $0 as of the Second Amendment Date.
First Priority” means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that such Lien is not subject to any other Lien on such Collateral, other than any Permitted Lien.
Fiscal Quarter” means a fiscal quarter of any Fiscal Year.
Fiscal Year” means the fiscal year of the Group ending on the Sunday closest to February 1 of each calendar year (or, if the fiscal year-end is changed to some other date pursuant to Section 6.14, such other date).
Flood Certificate” means a “Standard Flood Hazard Determination Form” of the Federal Emergency Management Agency and any successor Governmental Authority performing a similar function.
Flood Program” means the National Flood Insurance Program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, the National Flood Insurance Reform Act of 1994 and the Flood Insurance Reform Act of 2004, in each case as amended from time to time, and any successor statutes.
Flood Zone” means areas having special flood hazards as described in the National Flood Insurance Act of 1968, as amended from time to time, and any successor statute.
Foreign Currency Equivalent” means, with respect to an amount denominated in Canadian Dollars or any Other Foreign Currency, such amount, and with respect to an amount denominated in Dollars or Euros, the equivalent in Canadian Dollars or such Other Foreign Currency of such amount determined at the Exchange Rate on the applicable Valuation Date. In making the determination of the Foreign Currency Equivalent for purposes of determining the aggregate available Canadian Revolving Commitments on any Credit Date, the Administrative Agent shall use the Exchange Rate in effect at the date on which the U.S. Borrower requests the extension of credit for such Credit Date pursuant to the provisions of this Agreement.
Foreign Plan” means any Employee Benefit Plan, program, policy, arrangement or agreement maintained or contributed to by any European Loan Party or any of their respective Subsidiaries with respect to employees employed outside the United States.
Foreign Plan Event” means, with respect to any Foreign Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the failure to make the required contributions or payments, under any applicable law, on or before the due date for such contributions or payments, (c) the receipt of a notice from a Governmental Authority relating to the intention to terminate any such Foreign Plan or to appoint a trustee or similar official to administer any such Foreign Plan, or alleging the insolvency of any such Foreign Plan, in each case which is reasonably likely to result, directly or indirectly, in material liability to a Loan Party, (d) the

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incurrence of any material liability by any Loan Party or any their respective Subsidiaries under applicable law on account of the complete or partial termination of such Foreign Plan or the complete or partial withdrawal of any participating employer therein, or (e) the occurrence of any transaction that is prohibited under any applicable law and that would reasonably be expected to result in the incurrence of any liability by any Loan Party or any of their respective Subsidiaries, or the imposition on any Loan Party or any of their respective Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance with any applicable law.
Foreign Subsidiary” means (i) any Restricted Subsidiary that is not organized under the laws of the United States, any State thereof or the District of Columbia and (ii) any Restricted Subsidiary of a Subsidiary described in clause (i).
FQ1”, “FQ2”, “FQ3” and “FQ4” mean, when used with a numerical year designation, the first, second, third or fourth Fiscal Quarters, respectively, of the designated Fiscal Year of any Borrower (e.g., FQ4 2012 means the fourth Fiscal Quarter of a Borrower’s 2012 Fiscal Year, which ends February 3, 2013).
Funding Guarantor” has the meaning set forth in Section 7.02(b).
GAAP” means, subject to the limitations on the application thereof set forth in Section 1.02, United States generally accepted accounting principles in effect as of the date of determination thereof consistently applied.
Governmental Acts” means any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority.
Governmental Authority” means any federal, state, municipal, national or other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity, officer or examiner exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated with a state of the United States, the United States, or a foreign entity or government.
Governmental Authorization” means any permit, license, authorization, certification, registration, approval, plan, directive, consent order or consent decree of or from any Governmental Authority.
Group” means, collectively, the U.S. Borrower and its Restricted Subsidiaries; provided that, as used in Sections 5.01(a) and 5.01(b) with respect to the financial statements required to be delivered thereunder, it shall mean the U.S. Borrower and its consolidated Subsidiaries in accordance with GAAP.
Group Member” means any of the U.S. Borrower or any of its Restricted Subsidiaries.
Group Member Adjusted EBITDA” means, for any period for any Group Member, the amount of Consolidated Adjusted EBITDA attributable to such Group Member for such period, calculated on an unconsolidated basis and by excluding all intercompany items (provided that, for the purpose of the determination of a Material Company solely as such term is used in Section 8.01(f), 8.01(g),

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8.01(h) or 8.01(l), Group Member Adjusted EBITDA shall be calculated on a consolidated basis for such Group Member and its Subsidiaries).
Group Member Assets” means, for any Group Member, as of any date of determination, the total assets of such Group Member, determined in accordance with GAAP, calculated on an unconsolidated basis and by excluding all intercompany items (provided that, for the purpose of the determination of a Material Company solely as such term is used in Section 8.01(f), 8.01(g), 8.01(h) or 8.01(l), Group Member Assets shall be calculated on a consolidated basis for such Group Member and its Subsidiaries).
Guaranteed Obligations” has the meaning set forth in Section 7.01(b).
Guarantor” means (i) with respect to the Obligations of the U.S. Borrower, each U.S. Subsidiary that has become a party hereto as a Guarantor, (ii) with respect to the Obligations of the European Borrower or any Ancillary Borrower, (x) the U.S. Borrower, (y) each U.S. Subsidiary that has become a party hereto as a Guarantor and (z) the European Guarantor and (iii) with respect to the Obligations of any Restricted Subsidiary arising under any Hedge Agreement, Cash Management Agreement or Treasury Transaction, the U.S. Borrower.
Guaranty” means the guaranty of each Guarantor set forth in Article VII.
Hazardous Materials” means any pollutant, contaminant, chemical, waste, material or substance, exposure to which or Release of which is prohibited, limited or regulated by any Governmental Authority or which may or could pose a hazard to human health and safety or to the indoor or outdoor environment, including petroleum, petroleum products, asbestos, urea formaldehyde, radioactive materials, polychlorinated biphenyls and toxic mold.
Hedge Agreement” means an Interest Rate Agreement, Commodity Agreement or a Currency Agreement entered into with a Lender Counterparty.
Highest Lawful Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted for, charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow a higher maximum non-usurious interest rate than applicable laws now allow.
Historical Financial Statements of the Acquired Business” means as of the Closing Date, (i) audited consolidated financial statements of the Acquired Business consisting of balance sheets as of December 31, 2011 and January 1, 2011 and income statements and statements of stockholders’ equity and cash flows for Fiscal Years 2009, 2010 and 2011 and an unqualified audit report relating thereto, and (ii) unaudited consolidated financial statements of the Acquired Business consisting of a balance sheet, income statement and statement of cash flows for the nine months ended September 29, 2012.
Historical Financial Statements of the U.S. Borrower” means as of the Closing Date, (i) audited consolidated financial statements of the U.S. Borrower consisting of balance sheets as of January 29, 2012 and January 30, 2011 and income statements and statements of stockholders’ equity and

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cash flows for Fiscal Years 2009, 2010 and 2011 and an unqualified audit report relating thereto and (ii) unaudited consolidated financial statements of the U.S. Borrower consisting of a balance sheet, income statement and statement of cash flows for the nine months ended October 28, 2012.
Increased Amount Date” has the meaning set forth in Section 2.24.
Increased‑Cost Lender” has the meaning set forth in Section 2.23.
Incremental Revolving Commitments” has the meaning set forth in Section 2.24.
Incremental Revolving Loan” has the meaning set forth in Section 2.24.
Incremental Revolving Loan Lender” has the meaning set forth in Section 2.24.
Incremental Term Loan” has the meaning set forth in Section 2.24.
Incremental Term Loan Commitments” has the meaning set forth in Section 2.24.
Incremental Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Incremental Term Loans of such Lender.
Incremental Term Loan Lender” has the meaning set forth in Section 2.24.
Incremental Term Loan Maturity Date” means the date on which Incremental Term Loans of a Series shall become due and payable in full hereunder, as specified in the applicable Joinder Agreement, including by acceleration or otherwise.
Incremental Term Loan Note” means a promissory note in the form of Exhibit B‑5, as it may be amended, restated, supplemented or otherwise modified from time to time.
Incurrence Test” means that, as of the applicable test date, the Net Leverage Ratio as of such date, based on Consolidated Adjusted EBITDA for the most recently ended period of four consecutive Fiscal Quarters of the Group for which internal financial statements are available and Consolidated Total Net Debt as of the applicable test date, shall be 3.00:1.00 or less.
Indebtedness” means, as applied to any Person, without duplication, (i) all indebtedness for borrowed money; (ii) that portion of obligations with respect to Capital Leases that is properly classified as a capitalized liability on a balance sheet in conformity with GAAP; (iii) obligations evidenced by bonds, debentures, notes or other similar instruments; (iv) any obligation owed for all or any part of the deferred purchase price of property or services (excluding trade accounts payable and accrued expenses in the ordinary course of business which are not overdue for a period of more than 90 days or, if overdue for more than 90 days, as to which a dispute exists and adequate reserves in conformity with GAAP have been established on the books of such Person and any such obligations incurred under ERISA), which purchase price is (a) due more than six months from the date of incurrence of the obligation in respect thereof or (b) evidenced by a note or similar written instrument in each case to the extent that the same would be required to be shown as a long term liability on a balance sheet prepared in accordance with GAAP (it being understood that the amount of any such obligation shall be calculated in each case, in accordance with GAAP); (v) all indebtedness secured by any Lien on any property or asset owned or held by that Person regardless

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of whether the indebtedness secured thereby shall have been assumed by that Person or is nonrecourse to the credit of that Person (provided that if the recourse to such Person in respect of such indebtedness is limited solely to the property subject to such Lien, the amount of such indebtedness shall be deemed to be the fair market value (as determined in good faith by such Person) of the property subject to such Lien or the amount of such indebtedness if less); (vi) the face amount of any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings; provided such letter of credit is issued by a Person other than the U.S. Borrower and its Subsidiaries; (vii) Disqualified Equity Interests, (viii) the net payments that such Person would have to make in the event of any early termination, on the date Indebtedness of such Person is being determined, in respect of any exchange traded or over the counter derivative transaction, including any Hedge Agreement, in each case, whether entered into for hedging or speculative purposes; provided, that in no event shall obligations under any derivative transaction be deemed “Indebtedness” for any purpose under Section 6.07 or for the purpose of calculating the Incurrence Test or Net Leverage Ratio unless such obligations relate to a derivatives transaction which has been terminated; (ix) the full outstanding balance of trade receivables, notes or other instruments sold with full recourse in a factoring or similar transaction, other than in any such case any thereof sold solely for purposes of collection of delinquent accounts and (x) any Contingent Liability with respect to the foregoing. The Indebtedness of any Person shall include the Indebtedness of any other Person (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such Person, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor.
Indemnified Liabilities” means, collectively, any and all liabilities, obligations, losses, damages (including natural resource damages), penalties, claims (including Environmental Claims), actions, judgments, suits, costs (including the costs of any investigation, study, sampling, testing, abatement, cleanup, removal, remediation or other necessary response action related to the Release or presence of any Hazardous Materials), expenses and disbursements of any kind or nature whatsoever (including any of the foregoing in connection with any investigative, administrative or judicial proceeding or hearing commenced or threatened by any Group Member, its Affiliates or any other Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect, special or consequential and whether based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, rules or regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed on, incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (i) this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby (including the Lenders’ agreement to make Credit Extensions, the syndication of the credit facilities provided for herein or the use or intended use of the proceeds thereof, or any enforcement of any of the Loan Documents (including any sale of, collection from, or other realization upon any of the Collateral or the enforcement of the Guaranty)); (ii) the Engagement Letter (and any related fee letter) delivered by any Agent or any Lender to the U.S. Borrower with respect to the transactions contemplated by this Agreement; (iii) the Second Amendment Engagement Letter (and any related fee letter) delivered to the U.S. Borrower by the other parties hereto with respect to the transactions contemplated by the Second Amendment; (iv) any

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Environmental Claim relating to or arising from, directly or indirectly, any past or present activity, operation, land ownership, or practice of any Group Member; or (ivv) any Loan or the use of proceeds thereof.
Indemnified Taxes” means any Taxes other than Excluded Taxes.
Indemnitee” has the meaning set forth in Section 10.03(a).
Installment” has the meaning set forth in Section 2.12(a).
Installment Date” has the meaning set forth in Section 2.12(a).
Intellectual Property” means the collective reference to all rights, priorities and privileges relating to intellectual property, whether arising under the United States, multinational or foreign laws or otherwise, including without limitation, Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks, Trademark Licenses, Trade Secrets, and Trade Secret Licenses (as each such term is defined in the U.S. Pledge and Security Agreement), and the right to sue or otherwise recover for any past, present and future infringement, dilution, misappropriation, or other violation or impairment thereof, including the right to receive all proceeds therefrom, including without limitation license fees, royalties, income, payments, claims, damages and proceeds of suit, now or hereafter due and/or payable with respect thereto.
Intellectual Property Security Agreements” has the meaning set forth in the U.S. Pledge and Security Agreement and the CKI Related Assets Pledge and Security Agreement, as applicable.
Intercreditor Agreements” means the CKI Intercreditor Agreement and the 2023 Debentures Intercreditor Agreement.
Interest Coverage Ratio” means the ratio as of the last day of any Fiscal Quarter of (i) Consolidated Adjusted EBITDA for the four‑Fiscal-Quarter period then ended to (ii) Consolidated Cash Interest Expense for such four‑Fiscal-Quarter period.
Interest Payment Date” means with respect to (i) any Loan that is a Base Rate Loan (including any Swing Line Loan) or any Canadian Prime Rate Loan (including any Canadian Swing Line Loan), each March 31, June 30, September 30 and December 31 of each year, commencing on the first such date to occur after the Closing Date and the final maturity date of such Loan; and (ii) any Loan that is a Eurocurrency Rate Loan, the last day of each Interest Period applicable to such Loan; provided, that in the case of each Interest Period of longer than three months “Interest Payment Date” shall also include each date that is three months, or an integral multiple thereof, after the commencement of such Interest Period.
Interest Period” means, in connection with a Eurocurrency Rate Loan, an interest period of one, two, three or six months (or, if available to all of the Lenders, nine or 12 months), as selected by the Borrowers in the applicable Borrowing Notice or Conversion/Continuation Notice, (i) initially, commencing on the Credit Date or Conversion/Continuation Date thereof, as the case may be; and (ii) thereafter, commencing on the day on which the immediately preceding Interest Period expires; provided, that (a) if an Interest Period would otherwise expire on a day that is not a Business Day,

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such Interest Period shall expire on the next succeeding Business Day unless no further Business Day occurs in such month, in which case such Interest Period shall expire on the immediately preceding Business Day; (b) any Interest Period in respect of a Eurocurrency Rate Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clauses (c) and (d), of this definition, end on the last Business Day of a calendar month; (c) no Interest Period with respect to any portion of any Class of Term Loans shall extend beyond such Class’s Term Loan Maturity Date; and (d) no Interest Period with respect to any portion of any Class of Revolving Loans shall extend beyond such Class’s Revolving Commitment Termination Date. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, the initial Interest Period with respect to any Borrowing of Tranche A Term Loans or Tranche B Term Loans funded on the Restatement Date will be a period commencing on the Restatement Date and ending on the end dates of the Interest Periods in effect with respect to the Tranche A Term Loans or Tranche B Term Loans, respectively, under the Original Credit Agreement.Second Amendment Date will be as set forth in Section 2(c) of the Second Amendment.
Interest Rate Agreement” means any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement, each of which is for the purpose of hedging the interest rate exposure associated with the operations of the Group and not for speculative purposes.
Interest Rate Determination Date” means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.
Internal Revenue Code” means the Internal Revenue Code of 1986, as amended to the date hereof and from time to time hereafter, and any successor statute.
Investment” means (i) any direct or indirect purchase or other acquisition by any Group Member of, or of a beneficial interest in, any of the Securities of any other Person (other than a U.S. Loan Party); (ii) any direct or indirect loan, advance (other than advances to employees for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contributions by any Group Member to any other Person (other than a U.S. Loan Party), including all Indebtedness and accounts receivable from that other Person that are not current assets or did not arise from sales to that other Person in the ordinary course of business and (iii) all investments consisting of any exchange traded or over the counter derivative transaction, including any Hedge Agreement, whether entered into for hedging or speculative purposes. The amount of any Investment of the type described in clauses (i) and (ii) shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustments for increases or decreases in value, or write‑ups, write‑downs or write‑offs with respect to such Investment.
ISP” means, with respect to any standby Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance of such Letter of Credit).
Issuance Notice” means a notice substantially in the form of Exhibit A‑3.

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Issuing Bank” means each of Barclays, Bank of America, N.A. and The Bank of Nova Scotia, as Issuing Bank hereunder, and any other Lender that has notified the Administrative Agent that it has agreed to a request by the Borrower Representative to become an Issuing Bank hereunder with respect to U.S. Letters of Credit, European Letters of Credit or Canadian Letters of Credit, as applicable, together with their respective permitted successors and assigns in such capacity. Unless otherwise specified, in respect of any Letters of Credit, “Issuing Bank” shall refer to the applicable Issuing Bank which has issued such Letter of Credit. An Issuing Bank may perform its obligations hereunder through any applicable branch thereof and such branch shall be treated as the applicable Issuing Bank where applicable.
Itochu Agreement” means that certain Stockholders’ Agreement, dated as of December 27, 2007, among ITOCHU Corporation, Tommy Hilfiger B.V. (as successor by merger to Tommy Hilfiger Group B.V.), Tommy Hilfiger Japan Corporation and certain other parties signatory thereto.
Itochu Amount” means, for any period, the payments paid or payable by any Group Member for such period pursuant to the Itochu Agreement.
Itochu Guarantee” means that certain Guarantee, dated as of January 12, 2012, by the U.S. Borrower of certain obligations of Tommy Hilfiger B.V. (as successor by merger to Tommy Hilfiger Group B.V.) under the Itochu Agreement for the benefit of ITOCHU Corporation.
Itochu Obligations” means all obligations of any nature of the U.S. Borrower or any of its Subsidiary under or with respect to the Itochu Guarantee, the Itochu Agreement and the preferred shares of Tommy Hilfiger Japan Corporation.
Japanese Yen” means the lawful currency of Japan.
Joinder Agreement” means an agreement substantially in the form of Exhibit I.
Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided, that in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.
Judgment Currency” has the meaning set forth in Section 10.25.
Landlord Consent” means, with respect to any Leasehold Property for which a landlord’s consent is required prior to a U.S. Loan Party’s granting of a Mortgage on such Leasehold Property, a letter, certificate or other instrument in writing from the lessor under the related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold Property by the U.S. Loan Party tenant, such Landlord Consent to be in form and substance acceptable to the Collateral Agent in its reasonable discretion and sufficient for the Collateral Agent to obtain a Title Policy with respect to such Mortgage.
Landlord Personal Property Collateral Access Agreement” means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit H with such amendments or modifications as may be approved by the Collateral Agent.

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Leasehold Property” means any leasehold interest of any U.S. Loan Party as lessee under any lease of real property, other than any lease with respect to retail store locations and any such leasehold interest designated from time to time by the Collateral Agent in its sole discretion as not being required to be included in the Collateral.
Lender” means each financial institution listed on the signature pages hereto as a Lender, and any other Person that becomes a party hereto pursuant to an Assignment Agreement or a Joinder Agreement. Unless the context clearly indicates otherwise, the term “Lenders” shall include the Swing Line Lender.
Lender Counterparty” means (a) each Person counterparty to a Hedge Agreement, Cash Management Agreement or Treasury Transaction who is (or at the time such Hedge Agreement, Cash Management Agreement or Treasury Transaction was entered into, was) a Lender, an Agent or an Affiliate of any thereof, (b) any Person counterparty to a Hedge Agreement, Cash Management Agreement or Treasury Transaction who was, at the time such agreement or transaction was entered into, a lender or agent or an Affiliate of any thereof under and pursuant to the Existing PVH Credit Agreement or the Original Credit Agreement, as applicable and (c) any Person who is an Agent or a Lender (and any Affiliate thereof) as of the Closing Date or the Restatement Date but subsequently, whether before or after entering into a Hedge Agreement, Cash Management Agreement or Treasury Transaction, ceases to be an Agent or a Lender, as the case may be.
Letter of Credit” means a U.S. Letter of Credit, a Canadian Letter of Credit and/or a European Letter of Credit, as applicable.
Lien” means any lien, mortgage, pledge, assignment or transfer for security purpose, security interest, charge or similar encumbrance of any kind (including any agreement to give any of the foregoing, any conditional sale or other title (or extended title) retention agreement, and any lease or license in the nature thereof) and any option, trust or other preferential arrangement having the practical effect of any of the foregoing; provided that in no event shall an operating lease or an agreement to sell be deemed to constitute a Lien.
Loan” means a Tranche A Term Loan, a Tranche B Term Loan, a Revolving Loan, a Swing Line Loan and an Incremental Term Loan, which (i) in the case of Loans denominated in Dollars, may be a Base Rate Loan or a Eurocurrency Rate Loan, (ii) in the case of Loans denominated in Euros or an Other Foreign Currency, shall be a Eurocurrency Rate Loan and (iii) in the case of Loans denominated in Canadian Dollars, may be a Canadian Prime Rate Loan or a Eurocurrency Rate Loan.
Loan Document” means any of this Agreement, the Notes, if any, the Security Documents, the Intercreditor Agreements, the First Amendment, each Joinder Agreement, any accession or joinder agreement to any Intercreditor Agreement, any documents or certificates executed by the Borrowers in favor of any Issuing Bank relating to Letters of Credit, any Ancillary Document, and all other documents, instruments or agreements executed and delivered by a Loan Party for the benefit of any Agent, any Issuing Bank or any Lender in connection herewith on or after the Closing Date.
Loan Party” means each Borrower and each Guarantor.

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Mandatory Costs” means the percentage rate per annum calculated by the Administrative Agent in accordance with Schedule 1.01(f) hereto.
Margin Stock” has the meaning given in Regulation U of the Board of Governors as in effect from time to time.
Market Disruption” means any Interest Rate Determination Date on which (i) the Administrative Agent shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), with respect to any Eurocurrency Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Adjusted Eurocurrency Rate, or (ii) before the close of business in London on such Interest Rate Determination Date, the Administrative Agent receives notifications from a Lender or Lenders (whose aggregate exposure in respect of any Class of Loans exceeds 50% of that Class of Loans) that the cost to it of obtaining matching deposits in the London interbank market would be in excess of the Adjusted Eurocurrency Rate.
Material Adverse Effect” means any event, development or circumstance that has had or would reasonably be expected to have a material adverse effect on (i) the business, assets, operations or financial condition of the Group (other than any Securitization Subsidiary) taken as a whole; (ii) the ability of the Loan Parties (taken as a whole) to pay the Obligations; or (iii) the rights and remedies available to, or conferred upon, any Agent and any Lender or any other Secured Party under any Loan Document in any manner (including the legality, validity, binding effect or enforceability of the Loan Documents against the Loan Parties) that would be prejudicial to the interests of the Secured Parties, taken as a whole.
Material Company” means (i) any Loan Party, (ii) any Group Member that is listed in Schedule 1.01(g) or (iii) any Group Member that has (x) Group Member Adjusted EBITDA or (y) Group Member Assets representing, respectively, 5% or more of Consolidated Adjusted EBITDA or Consolidated Total Assets. For this purpose:
(a)    the (i) Group Member Adjusted EBITDA and (ii) Group Member Assets will be determined from its financial statements upon which the latest audited financial statements of the Group have been based;
(b)    if a Subsidiary becomes a Group Member after the date on which the latest audited financial statements of the Group have been prepared, the (i) Group Member Adjusted EBITDA or (ii) Group Member Assets of that Subsidiary will be determined from its latest financial statements;
(c)    the (i) Consolidated Adjusted EBITDA and (ii) Consolidated Total Assets will be determined from its latest audited financial statements, adjusted (where appropriate) to take into account pro forma adjustments of the type described in the definition of “Consolidated Adjusted EBITDA” and “Consolidated Total Assets”, as applicable; and

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(d)    if a Material Company disposes of all or substantially all of its assets to another Group Member, it will immediately cease to be a Material Company and the other Group Member (if it is not already) will immediately become a Material Company.
Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit or, for the avoidance of doubt, any CKI Obligations) of any one or more of the Borrowers or any Subsidiary in an individual principal amount (or Net Mark-to-Market Exposure) of $75,000,000 or more.
Material Intellectual Property” means any Intellectual Property included in the Collateral that is material to the business of any Group Member.
Material Real Estate Asset” means any Real Estate Asset in respect of which a U.S. Loan Party has an ownership interest with a fair market value in excess of $15,000,000 as of the date of the acquisition thereof, but excluding all Leasehold Properties (i) that are retail store locations, (ii) with respect to which the aggregate payments under the terms of the applicable lease are less than $15,000,000 per annum or whose termination dates under the terms of the applicable lease are not greater than five years after the date of the acquisition thereof, (iii) that, by the terms of their respective leases are prohibited from, or the respective landlord does not otherwise grant consent to, recording a Record Document, or (iv) with respect to which, notwithstanding the U.S. Borrower’s commercially reasonable efforts to secure a Landlord Consent pursuant to the terms of Section 5.12(c), such Landlord Consent shall not be forthcoming from the applicable Landlord.
Merger Sub” means Wand Acquisition Corp., a Delaware corporation.
MLPFS” has the meaning specified in the preamble hereto.
Moody’s” means Moody’s Investor Services, Inc.
Mortgage” means one or more instruments of mortgage or leasehold mortgage substantially in the form of Exhibit G, as it may be amended, restated, supplemented or otherwise modified from time to time.
Multiemployer Plan” means any Employee Benefit Plan which is a “multiemployer plan” as defined in Section 3(37) or Section 4001(a)(3) of ERISA.
NAIC” means The National Association of Insurance Commissioners, and any successor thereto.
Narrative Report” means, with respect to the financial statements for which such narrative report is required, a narrative report describing the operations of the Group for the applicable Fiscal Quarter or Fiscal Year and for the period from the beginning of the then current Fiscal Year to the end of such period to which such financial statements relate.
Net Cash Proceeds” means (a) with respect to any Asset Sale, an amount equal to: (i) cash payments (including any cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) received by any Group Member from such Asset Sale, minus (ii) any bona fide direct costs incurred in connection with such Asset Sale, including (1) taxes paid or payable as a result thereof including transfer taxes and income or gains taxes payable as a result of any gain recognized in connection with such Asset Sale, (2) payment

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of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale, (3) a reasonable reserve established in accordance with GAAP retained by the applicable Group Member, including, without limitation for any indemnification payments (fixed or contingent) attributable to seller’s indemnities and representations and warranties to purchaser in respect of such Asset Sale undertaken by any Group Member in connection with such Asset Sale, (4) attorneys’ fees, accountants’ fees, investment banking fees, survey costs, title insurance premiums and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees incurred in connection therewith and (5) in case of any such Asset Sale occurring in a jurisdiction other than the United States, the amount of all taxes paid (or reasonably estimated to be payable) by the Group Members that are directly attributable to the distribution of such cash proceeds from such jurisdiction or to the repatriation of such cash proceeds into the United States, but only to the extent the Group Members have used commercially reasonable efforts to reduce or eliminate such taxes, including by electing to prepay Loans in such a manner that would result in the lowest possible amount of such taxes; provided, that no such net cash proceeds shall constitute Net Cash Proceeds under this clause (a) in any Fiscal Year until the aggregate amount of all such net cash proceeds received by a Group Member in such Fiscal Year, taken together with all net cash payments or proceeds of the type described in clause (b) below received by a Group Member in such Fiscal Year, shall exceed a Dollar Equivalent of $50,000,000 (and thereafter only net cash proceeds in excess of such amount shall constitute Net Cash Proceeds under this clause (a)); (b) (i) any cash payments or proceeds received by any Group Member (1) under any casualty insurance policy in respect of a covered loss thereunder or (2) as a result of the taking of any assets of any Group Member by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (ii) (1) any actual and reasonable costs incurred by any Group Member in connection with the adjustment or settlement of any claims of such Group Member in respect thereof, (2) any bona fide direct costs incurred in connection with any sale of such assets as referred to in preceding clause (i)(2), including income taxes payable as a result of any gain recognized in connection therewith and (3) in case of any such event occurring in a jurisdiction other than the United States, the amount of all taxes paid (or reasonably estimated to be payable) by the Group Members that are directly attributable to the distribution of such cash proceeds from such jurisdiction or to the repatriation of such cash proceeds into the United States, but only to the extent the Group Members have used commercially reasonable efforts to reduce or eliminate such taxes, including by electing to prepay Loans in such a manner that would result in the lowest possible amount of such taxes; provided, that (x) no net cash proceeds calculated in accordance with this clause (b) realized in a single transaction or series of transactions shall constitute Net Cash Proceeds under this clause (b) unless such net cash proceeds shall exceed a Dollar Equivalent of $10,000,000 and (y) no such net cash proceeds shall constitute Net Cash Proceeds under this clause (b) in any Fiscal Year until the aggregate amount of all such net cash proceeds received by a Group Member in such Fiscal Year, taken together with all net cash payments or proceeds of the type described in clause (a) above received by a Group Member in such Fiscal Year, shall exceed a Dollar Equivalent of $50,000,000 (and thereafter only net cash proceeds in excess of such amount shall constitute Net

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Cash Proceeds under this clause (b)); (c) with respect to any issuance or incurrence of Indebtedness (other than in connection with a Qualified Securitization Financing) or any sale of Equity Interests, the cash proceeds thereof, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses; and (d) with respect to any issuance or incurrence of Indebtedness in connection with a Qualified Securitization Financing, the cash proceeds thereof, net of any related Securitization Fees and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, received directly or indirectly from time to time in connection with such Qualified Securitization Financing from Persons that are not Securitization Subsidiaries, including any such cash proceeds received in connection with an increase in the outstanding program or facility amount with respect to such Qualified Securitization Financing, but excluding any cash collections from the Securitization Assets backing such Qualified Securitization Financing that are reinvested (or deemed to be reinvested) by such Persons in additional Securitization Assets without any increase in the Indebtedness outstanding in connection with such Qualified Securitization Financing.
Net Leverage Ratio” means the ratio as of the last day of any Fiscal Quarter of (i) Consolidated Total Net Debt as of such day to (ii) Consolidated Adjusted EBITDA for the four‑Fiscal-Quarter period ending on such date.
Net Mark-to-Market Exposure” of a Person means, as of any date of determination, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from Hedge Agreements or other Indebtedness of the type described in clause (viii) of the definition thereof. As used in this definition, “unrealized losses” means the fair market value of the cost to such Person of replacing such Hedge Agreement or such other Indebtedness as of the date of determination (assuming the Hedge Agreement or such other Indebtedness were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Hedge Agreement or such other Indebtedness as of the date of determination (assuming such Hedge Agreement or such other Indebtedness were to be terminated as of that date).
Non-Consenting Lender” has the meaning set forth in Section 2.23.
Non-Public Information” means information which has not been disseminated in a manner making it available to investors generally, within the meaning of Regulation FD.
Non‑U.S. Lender” has the meaning set forth in Section 2.20(c).
Note” means a Tranche A Term Loan Note, a Tranche B Term Loan Note, an Incremental Term Loan Note, a Revolving Loan Note or a Swing Line Note.
Notice” means a Borrowing Notice, an Issuance Notice, or a Conversion/ Continuation Notice.
Obligations” means all obligations of every nature of each Loan Party, including obligations from time to time owed to Secured Parties, under any Loan Document, Hedge Agreement, Cash Management Agreement or Treasury Transaction whether for principal, interest (including interest which, but for the filing of a petition in bankruptcy with respect to such Loan Party, would have accrued on any Obligation, whether or not a claim is allowed against such Loan Party for such

44




interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Hedge Agreements, fees, expenses, indemnification or otherwise; provided, that at no time shall Obligations include any Excluded Swap Obligations.
Offer” has the meaning set forth in Section 2.13(c).
Offer Loans” has the meaning set forth in Section 2.13(c).
Organizational Documents” means with respect to any Person all formation, organizational and governing documents, instruments and agreements, including (i) with respect to any corporation, its certificate or articles of incorporation or organization, its by‑laws, any memorandum of incorporation or other constitutional documents, (ii) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (iii) with respect to any general partnership, its partnership agreement (if any) and (iv) with respect to any limited liability company, its certificate of incorporation or formation (and any amendments thereto), certificate of incorporation on change of name (if any), its memorandum and articles of association (if any), its articles of organization (if any), the shareholders’ list (if any) and its limited liability company agreement or operating agreement. In the event any term or condition of this Agreement or any other Loan Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any such “Organizational Document” shall only be to a document of a type customarily certified by such governmental official.
Original Credit Agreement” has the meaning set forth in the recitals hereto.
Original Lenders” has the meaning set forth in the recitals hereto.
Other Foreign Currencies” means Japanese Yen, Pounds Sterling and Swiss Francs, in each case which are readily available in the amount required and freely convertible into Euro in the relevant interbank market.
Other Taxes” means any and all present or future stamp or documentary Taxes or any other excise or property Taxes, charges or similar levies (and interest, fines, penalties and additions related thereto) arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document.
Participant Register” has the meaning set forth in Section 10.06(g)(iv).
Patents” has the meaning set forth in the U.S. Pledge and Security Agreement.
PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56.
Payment in Full” or “Paid in Full” means the payment in full of all Obligations (other than obligations under Hedge Agreements, Cash Management Agreements or Treasury Transactions not yet due and payable and contingent obligations not yet due and payable) and cancellation, expiration or Cash Collateralization of all Letters of Credit and termination of all Commitments to lend under this Agreement.

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PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.
Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to Section 412 or Section 430 of the Internal Revenue Code or Section 302 or Section 303 of ERISA.
Perfection Certificate” means a certificate in the form attached hereto as Exhibit J (or any other form reasonably satisfactory to the Collateral Agent) that provides information with respect to the personal or mixed property of each U.S. Loan Party.
Permitted Acquisition” means any acquisition by the U.S. Borrower and/or any of its Wholly‑Owned Restricted Subsidiaries of, or any transaction that results in the U.S. Borrower and/or any of its Wholly-Owned Restricted Subsidiaries owning, whether by purchase, merger, exclusive inbound license, transfer of rights under Copyright or otherwise, all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person; provided, that:Subject Acquisition; provided, that:
(a)    immediately prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing or would result therefrom;
(b)    all transactions in connection therewith shall be consummated, in all material respects, in accordance with all applicable laws and in conformity with all applicable Governmental Authorizations;
(c)    in the case of the acquisition of Equity Interests, all of the Equity Interests (except for any such Securities in the nature of directors’ qualifying shares required pursuant to applicable law) acquired or otherwise issued by such Person or any newly formed Subsidiary of the U.S. Borrower in connection with such acquisition shall be owned 100.0% by the Loan Parties;[Reserved];
(d)    the Group shall be in compliance with the financial covenants set forth in Sections 6.07(a) and 6.07(b) on a pro forma basis after giving effect to such acquisition as of the last day of the Fiscal Quarter most recently ended;
(e)    the acquisition shall not result in the Group acquiring any interest, direct or indirect, in any Loan; and
(f)    in the case of an acquisition involving Acquisition Consideration in excess of $40,000,000, the Borrower Representative shall have delivered to the Administrative Agent at least five Business Days prior to such acquisition, a Compliance Certificate evidencing compliance with Sections 6.07(a) and 6.07(b) as required under clause (d) above.
Permitted Liens” means each of the Liens permitted pursuant to Section 6.02.
Permitted Refinancing” means, with respect to any Person, any modification, refinancing, refunding, renewal or extension of any Indebtedness of such Person or any Indebtedness incurred or issued to so modify, refinance, refund, renew or extend such Indebtedness; provided, that (i) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed or

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extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal or extension and by an amount equal to any existing commitments unutilized thereunder; (ii) (A) such modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than the earlier of (x) the final maturity date of the Indebtedness being modified, refinanced, refunded, renewed or extended and (y) the date that is 90 days after the final maturity date of the Term Loans, and (B) has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the earlier of (x) the Indebtedness being modified, refinanced, refunded, renewed or extended and (y) the Term Loans; (iii) at the time thereof, no Default or Event of Default shall have occurred and be continuing; (iv) to the extent such Indebtedness being modified, refinanced, refunded, renewed or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal or extension is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed or extended and (v) the obligors in respect of such Indebtedness being modified, refinanced, refunded, renewed or extended are the obligors thereon and to the extent an additional obligor would otherwise be permitted to incur such Indebtedness under another provision of Section 6.01, such additional obligor may be an obligor thereon.
Permitted Sale and Lease-Back” has the meaning set forth in Section 6.10.
Person” means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited liability partnerships, joint stock companies, Joint Ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and Governmental Authorities.
Platform” has the meaning set forth in Section 5.01(m).
Post-Closing Restructuring Transactions” means, collectively, the internal restructuring transactions to be undertaken by the U.S. Borrower and its Restricted Subsidiaries concurrently with, or within the 12-month period following, the Closing Date, including (i) transfers of (x) any assets of any direct or indirect Foreign Subsidiary of the Acquired Business or (y) the Equity Interests of any direct or indirect Foreign Subsidiary of the Acquired Business from the Acquired Business or any U.S. Subsidiary thereof to, in the case of clause (x) or (y), Foreign Subsidiaries (direct or indirect) of the U.S. Borrower, (ii) the formation of a new European holding company as an indirect wholly-owned subsidiary of the U.S. Borrower and the contribution of some or all of the U.S. Borrower’s direct or indirect Foreign Subsidiaries (including, following the Closing Date, the direct and indirect foreign subsidiaries of the Acquired Business) to such entity, (iii) any related incurrence of intercompany Indebtedness (which shall be Subordinated Indebtedness if owed by a U.S. Loan Party to a Foreign Subsidiary) and any related intercompany transactions that the U.S. Borrower deems reasonably necessary or beneficial in connection therewith. The pro forma summary corporate structure chart, after giving effect to the Post-Closing Restructuring Transactions, is set forth on Schedule 1.01(h).
Pounds Sterling” means the lawful currency of the United Kingdom.

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Prime Rate” means the rate of interest publicly announced from time to time by the Administrative Agent as its prime rate in effect at its principal office in New York City. The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. The Administrative Agent or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Prime Rate.
Principal Office” means, for each of the Administrative Agent, each Swing Line Lender and each Issuing Bank, such Person’s “Principal Office” which, in the case of the Administrative Agent, may include one or more separate offices with respect to Approved Currencies as set forth on Schedule 1.01(d), or such other office or office of a third party or sub-agent, as appropriate, as such Person may from time to time designate in writing to the Borrowers, the Administrative Agent and each Lender.
Projections” has the meaning set forth in Section 4.08.
Pro Rata Share” means (i) with respect to all payments, computations and other matters relating to the Tranche A Term Loans of any Lender, as the context requires, the percentage obtained by dividing (x) the Tranche A Term Loan Exposure of that Lender by (y) the aggregate Tranche A Term Loan Exposure of all Lenders; (ii) with respect to all payments, computations and other matters relating to all of the Tranche B Term Loans of any Lender, as the context requires, the percentage obtained by dividing (x) the Tranche B Term Loan Exposure of that Lender by (y) the aggregate Tranche B Term Loan Exposure of all Lenders; (iii) with respect to all payments, computations and other matters relating to the Revolving Commitment or Revolving Loans of any Lender or any Letters of Credit issued or participations purchased therein by any Lender or any participations in any Swing Line Loans purchased by any Lender, as the context requires, the percentage obtained by dividing (x) (1) the U.S. Revolving Exposure of that Lender by (2) the aggregate U.S. Revolving Exposure of all Lenders, (y) (1) the European Revolving Exposure of that Lender by (2) the aggregate European Revolving Exposure of all Lenders or (z) (1) the Canadian Revolving Exposure of that Lender by (2) the aggregate Canadian Revolving Exposure of all Lenders; and (iviii) with respect to all payments, computations, and other matters relating to Incremental Term Loan Commitments or Incremental Term Loans of a particular Series, the percentage obtained by dividing (x) the Incremental Term Loan Exposure of that Lender with respect to that Series by (y) the aggregate Incremental Term Loan Exposure of all Lenders with respect to that Series. For all other purposes with respect to each Lender, “Pro Rata Share” means the percentage obtained by dividing (i) an amount equal to the sum of the Tranche A Term Loan Exposure, the Tranche B Term Loan Exposure, the Revolving Exposure and the Incremental Term Loan Exposure of that Lender, by (ii) an amount equal to the sum of the aggregate Tranche A Term Loan Exposure, the aggregate Tranche B Term Loan Exposure, the aggregate Revolving Exposure and the aggregate Incremental Term Loan Exposure of all Lenders.
Qualified Securitization Financing” means any transaction or series of transactions entered into by a Group Member pursuant to which such Group Member, sells, conveys, contributes, assigns, grants an interest in or otherwise transfers to a Securitization Subsidiary, Securitization Assets (and/or grants a security interest in such Securitization Assets transferred or purported to be transferred to such Securitization Subsidiary), and which Securitization Subsidiary funds the acquisition of

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such Securitization Assets (i) with cash, (ii) through the issuance to such Group Member of Seller’s Retained Interests or an increase in such Seller’s Retained Interests, and/or (iii) with proceeds from the sale, pledge or collection of Securitization Assets.
“Qualifying Acquisition” shall mean any Subject Acquisition with Acquisition Consideration of at least $200,000,000.
RBCCM” means RBC Capital Markets.
Real Estate Asset” means, at any time of determination, any interest (fee or leasehold) then owned by any U.S. Loan Party in any real property.
Record Document” means, with respect to any Leasehold Property, (i) the lease evidencing such Leasehold Property or a memorandum thereof, executed and acknowledged by the owner of the affected real property, as lessor, or (ii) if such Leasehold Property was acquired or subleased from the holder of a Recorded Leasehold Interest, the applicable assignment or sublease document, executed and acknowledged by such holder, in each case in form sufficient to give such constructive notice upon recordation and otherwise in form reasonably satisfactory to the Collateral Agent.
Recorded Leasehold Interest” means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in the Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third party purchasers and encumbrances of the affected real property.
Refunded Swing Line Loans” has the meaning set forth in Section 2.03(b)(iv).
Register” has the meaning set forth in Section 2.07(b).
Regulation” has the meaning set forth in Section 4.23.
Regulation D” means Regulation D of the Board of Governors, as in effect from time to time.
Regulation FD” means Regulation FD as promulgated by the SEC under the Securities Act and Exchange Act.
Regulation U” means Regulation U of the Board of Governors, as in effect from time to time.
Reimbursement Date” has the meaning set forth in Section 2.04(d)(i).
Related Fund” means, with respect to any Lender that is an investment fund, any other investment fund that invests in commercial loans and that is managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor.
Release” means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping, leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous Material through the air, soil, surface water or groundwater.

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Relevant Jurisdiction” means, in relation to a Loan Party: (i) its jurisdiction of organization; (ii) any jurisdiction where any asset subject to or intended to be subject to the Security Documents to be created by it is situated; and (iii) any jurisdiction where it conducts its business.
Replacement Lender” has the meaning set forth in Section 2.23.
Repricing Event” means (i) any prepayment or repayment of Tranche B Term Loans with the proceeds of, or any conversion of Tranche B Term Loans into, any new or replacement tranche of term loans bearing interest with an “effective yield” (taking into account, for example, upfront fees, interest rate spreads, interest rate benchmarks floors and original interest discount, but excluding the effect of any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared with all lenders or holders of such new or replacement loans and without taking into account any fluctuations in the Adjusted Eurocurrency Rate or comparable rate) less than the “effective yield” applicable to the Tranche B Term Loans (as such comparative yields are determined consistent with generally accepted financial practices) and (ii) any amendment to this Agreement which reduces the “effective yield” applicable to the Tranche B Term Loans (it being understood that (x) any prepayment premium with respect to a Repricing Event shall apply to any required assignment by a Non-Consenting Lender in connection with any such amendment pursuant to Section 2.23(c), (y) in each case, the yield shall exclude any structuring, commitment and arranger fees or other fees unless such similar fees are paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans and shall include any rate floors and any upfront or similar fees paid to all lenders generally in the primary syndication of such new or replacement tranche of term loans or original issue discount payable with respect to such new or replacement tranche of term loans) and (z) any such repayment, prepayment, conversion or amendment shall only constitute a Repricing Event to the extent that the primary purpose of such repayment, prepayment, conversion or amendment, as reasonably determined by the U.S. Borrower in good faith, is to reduce the “effective yield” applicable to the Tranche B Term Loans.
Required Lenders” means one or more Lenders having or holding Tranche A Term Loan Exposure, Tranche B Term Loan Exposure, Incremental Term Loan Exposure and/or Revolving Exposure and representing more than 50.0% of the sum of (i) the aggregate Tranche A Term Loan Exposure of all Lenders, (ii) the aggregate Tranche B Term LoanRevolving Exposure of all Lenders, (iii) the aggregate Revolving Exposure of all Lenders and (iv and (iii) the aggregate Incremental Term Loan Exposure of all Lenders.
Required Prepayment Date” has the meaning set forth in Section 2.15(d).
Restatement Date” means the date on which the conditions set forth in Section 3 of the First Amendment have been satisfied, which date is March 21, 2014.
Restatement Transactions” means the redemption, defeasance, satisfaction and discharge, repurchase or other repayment of up to $600,000,000 in aggregate principal amount of the 2020 Notes, the entry into the First Amendment and all transactions in connection therewith and related thereto and the payment of fees, costs and expenses related to each of the foregoing.

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Restricted Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of stock of any Group Member now or hereafter outstanding, except (x) a dividend payable solely in shares of Equity Interests (other than Disqualified Equity Interests) and (y) for the avoidance of doubt, any dividend equivalent paid in respect of restricted stock units issued by the U.S. Borrower pursuant to the 2006 Stock Incentive Plan, as it may be amended, restated, supplemented or otherwise modified from time to time, or any successor plan thereto; (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of stock of any Group Member now or hereafter outstanding, except any such payment, purchase or acquisition payable solely in shares of Equity Interests (other than Disqualified Equity Interests); (iii) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of stock of any Group Member now or hereafter outstanding; and (iv) any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement or similar payment with respect to Subordinated Indebtedness (other than if such Subordinated Indebtedness is owed by the U.S. Borrower to any Restricted Subsidiary or owed by any Restricted Subsidiary to the U.S. Borrower or any other Restricted Subsidiary and, with respect to amounts owing to Restricted Subsidiaries that are not Loan Parties, in the ordinary course of business).
Restricted Subsidiary” means any Subsidiary of the U.S. Borrower other than an Unrestricted Subsidiary.
Revolving Commitment” means a U.S. Revolving Commitment, a Canadian Revolving Commitment and/or a European Revolving Commitment, as applicable.
Revolving Commitment Period” means the U.S. Revolving Commitment Period, the Canadian Revolving Commitment Period or the European Revolving Commitment Period, as applicable.
Revolving Commitment Termination Date” means the U.S. Revolving Commitment Termination Date, the Canadian Revolving Commitment Termination Date or the European Revolving Commitment Termination Date, as applicable.
Revolving Exposure” means, with respect to any Lender as of any date of determination, the sum of such Lender’s U.S. Revolving Exposure, Canadian Revolving Exposure and European Revolving Exposure.
Revolving Lenders” means the Lenders having Revolving Exposure.
Revolving Loan” means a U.S. Revolving Loan, a Canadian Revolving Loan and/or a European Revolving Loan, as applicable.
Revolving Loan Note” means a promissory note substantially in the form of Exhibit B‑3, as it may be amended, restated, supplemented or otherwise modified from time to time.
Royal Bank” has the meaning specified in the preamble hereto.
S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc.

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Sale and Lease-Back” has the meaning set forth in Section 6.10.
Screen Rate” means, in relation to a Loan denominated in Dollars or Other Foreign Currency, the ICE Benchmark Administration London Interbank Offered Rate for the relevant currency and Interest Period, in relation to a Loan denominated in Canadian Dollars, the Canadian Dealer Offered Rate for the relevant Interest Period and in relation to a Loan denominated in Euros, the percentage rate per annum determined by the Banking Federation of the European Union for the relevant period, in each case, displayed on the appropriate page of the Reuters screen. If the agreed page is replaced or service ceases to be available, the Administrative Agent may specify another page or service displaying the appropriate rate.
SEC” means the United States Securities and Exchange Commission and any successor Governmental Authority performing a similar function.
“Second Amendment” means the Second Amendment to this Agreement, dated as of May 19, 2016, among the Borrowers, the Guarantors, the Administrative Agent, the Collateral Agent and the Lenders party thereto.
“Second Amendment Date” means the date on which the Second Amendment became effective pursuant to its terms, which date is May 19, 2016.
“Second Amendment Incremental Tranche A Term Loans” means the Incremental Tranche A Term Loans extended pursuant to Section 2.1(a)(iii) of this Agreement and Section 2(a) of the Second Amendment.
“Second Amendment Engagement Letter” means that certain engagement letter, dated as of April 11, 2016, among U.S. Borrower and Barclays Bank PLC, Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., JPMorgan Chase Bank, N.A. and Royal Bank of Canada.
“Second Amendment Tranche A Term Loan Commitment” means the commitment of a Lender to make or otherwise to fund an Incremental Tranche A Term Loan (as defined in the Second Amendment) on the Second Amendment Date. The amount of each Lender’s Second Amendment Tranche A Term Loan Commitment, if any, is set forth on Schedule 1.01(a) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Second Amendment Tranche A Term Loan Commitments as of the Second Amendment Date is $581,991,410.42.
Secured Parties” means the Agents, Lenders, Issuing Banks, the Lender Counterparties and the Ancillary Lenders and shall include, without limitation, all former Agents, Lenders, Issuing Banks, Lender Counterparties and Ancillary Lenders to the extent that any Obligations owing to such Persons were incurred while such Persons were Agents, Lenders, Issuing Banks, Lender Counterparties or Ancillary Lenders and such Obligations have not been paid or satisfied in full.
Securities” means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit‑sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of Indebtedness, secured or unsecured, convertible,

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subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing.
Securities Act” means the Securities Act of 1933, as amended from time to time, and any successor statute.
Securitization Assets” means any accounts receivable owed to a Group Member (whether now existing or arising or acquired in the future) arising in the ordinary course of business from the sale of goods or services, all collateral securing such accounts receivable, all contracts and contract rights and all guarantees or other obligations in respect of such accounts receivable, all proceeds of such accounts receivable and other assets (including contract rights) which are of the type customarily transferred or in respect of which security interests are customarily granted in connection with securitizations of accounts receivable and which are sold, conveyed, contributed, assigned, pledged or otherwise transferred by such Group Member to a Securitization Subsidiary.
Securitization Fees” means, with respect to any Qualified Securitization Financing, distributions or payments made, or fees paid, directly or by means of discounts with respect to any Indebtedness issued or sold in connection with such Qualified Securitization Financing, to a Person that is not a Securitization Subsidiary in connection with such Qualified Securitization Financing.
Securitization Repurchase Obligation” means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant with respect to such Securitization Assets, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off set, counterclaim or other dilution of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller, but in each case, not as a result of such receivable being or becoming uncollectible for credit reasons.
Securitization Subsidiary” means a wholly owned Subsidiary of the U.S. Borrower (or another Person formed for the purposes of engaging in a Qualified Securitization Financing in which any Group Member makes an Investment and to which such Group Member transfers, contributes, sells, conveys or grants a security interest in Securitization Assets) that engages in no activities other than in connection with the acquisition and/or financing of Securitization Assets of the Group, all proceeds thereof and all rights (contingent and other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the Board of Directors of the U.S. Borrower (or a duly authorized committee thereof) or such other Person (as provided below) as a Securitization Subsidiary and (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by any Group Member, other than another Securitization Subsidiary (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates any Group Member, other than another Securitization Subsidiary, in any way other than pursuant to Standard Securitization Undertakings or (iii) subjects any property or asset (other than Securitization Assets) of any Group Member, other than another Securitization Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, (b) with which no Group Member, other than

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another Securitization Subsidiary, has any material contract, agreement, arrangement or understanding other than (i) the applicable receivables purchase agreements and related agreements, in each case, having reasonably customary terms, or (ii) on terms which the U.S. Borrower reasonably believes to be no less favorable to the applicable Group Member than those that might be obtained at the time from Persons that are not Affiliates of the Group and (c) to which no Group Member other than another Securitization Subsidiary, has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. Any such designation by the Board of Directors of the U.S. Borrower (or a duly authorized committee thereof) or such other Person shall be evidenced to the Administrative Agent by delivery to the Administrative Agent of a certified copy of the resolution of the Board of Directors of the U.S. Borrower (or a duly authorized committee thereof) or such other Person giving effect to such designation and a certificate executed by an Authorized Officer certifying that such designation complied with the foregoing conditions.
Security Documents” means the U.S. Security Agreements, the Mortgages, the Intellectual Property Security Agreements, the Landlord Personal Property Collateral Access Agreements, if any, and all other instruments, documents and agreements delivered by any U.S. Loan Party pursuant to this Agreement or any of the other Loan Documents in order to grant to the Collateral Agent, for the benefit of Secured Parties, a Lien on any assets or property of that U.S. Loan Party as security for all or certain of the Obligations, including UCC financing statements and amendments thereto and filings with the United States Patent and Trademark Office and the United States Copyright Office; provided that no Dutch Security Agreement shall be considered a Security Document (or, by virtue of being a Security Document, a Loan Document), other than for purposes of Article IX and Sections 10.02 and 10.03.
Seller’s Retained Interests” means the debt or equity interests held by any Group Member in a Securitization Subsidiary to which Securitization Assets have been transferred, including any such debt or equity received as consideration for or as a portion of the purchase price for the Securitization Assets transferred, or any other instrument through which such Group Member has rights to or receives distributions in respect of any residual or excess interest in the Securitization Assets.
Senior Secured Net Debt” means, at any date of determination, an amount equal to (x) Consolidated Total Net Debt as of such date, minus (y) the aggregate outstanding principal amount of any unsecured Indebtedness as of such date.
Senior Secured Net Leverage Ratio” means the ratio as of the last day of any Fiscal Quarter of (i) Senior Secured Net Debt as of such day to (ii) Consolidated Adjusted EBITDA for the four‑Fiscal-Quarter period ending on such date.
Series” has the meaning set forth in Section 2.24.
Series A Preferred Stock” means the Series A Convertible Preferred Stock of the U.S. Borrower issued and outstanding as of the Closing Date.
Software” means computer software of whatever kind or purpose, including code, tools, developers kits, utilities, graphical user interfaces, menus, images, icons, and forms, and all software stored or contained therein or transmitted thereby, and related documentation.

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Solvency Certificate” means a Solvency Certificate of the principal financial officer of the Borrower Representative substantially in the form of Exhibit E‑2.
Solvent” means, with respect to the Group on a consolidated basis, that as of the date of determination, (a) the sum of the Group’s debt (including contingent liabilities) does not exceed the present fair saleable value of the Group’s present assets; (b) the Group’s capital is not unreasonably small in relation to its business as of the date of determination; and (c) the Group has not incurred and does not intend to incur, or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise). For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).
Specified Representations” means those representations and warranties of the Borrowers and the Guarantors in Sections 4.01(a), 4.01(b), 4.01(c)(i), 4.03, 4.04(a)(i), 4.04(a)(ii), 4.04(b) (solely with respect to the 2020 Notes and the 2023 Debentures), 4.06, 4.15, 4.16, 4.18, 4.19(b) and 4.22(b) (subject to the proviso in Section 3.01(e)).
Standard Securitization Undertakings” means representations, warranties, covenants, Securitization Repurchase Obligations and indemnities entered into by any Group Member that are reasonably customary in accounts receivable securitization transactions.
“Subject Acquisition” means any acquisition by the U.S. Borrower and/or any of its Wholly‑Owned Restricted Subsidiaries of, or any transaction that results in the U.S. Borrower and/or any of its Wholly-Owned Restricted Subsidiaries owning, whether by purchase, merger, exclusive inbound license, transfer of rights under Copyright or otherwise, all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person.
Subordinated European Intercompany Obligations” has the meaning set forth in Section 7.07.
Subordinated Indebtedness” means, with respect to the Obligations, any Indebtedness of any Loan Party that is by its terms subordinated in right of payment to any of the Obligations.
Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50.0% of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; provided, that in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall be deemed to be outstanding; provided, further, that for purposes of Articles IV and V, no Securitization Subsidiary shall be considered a Subsidiary of the U.S. Borrower; provided, further, that, notwithstanding anything contained herein or otherwise, for purposes of this Agreement and

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any other Loan Document, the CKI Trust shall not be considered a Subsidiary of the U.S. Borrower; and provided, further, that unless the context otherwise requires, a Subsidiary shall mean a direct or indirect Subsidiary of the U.S. Borrower.
Swap Obligation” means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.
Swing Line Lender” means each of the Canadian Swing Line Lender and the U.S. Swing Line Lender.
Swing Line Loan” means a Canadian Swing Line Loan or a U.S. Swing Line Loan, as applicable.
Swing Line Note” means a promissory note substantially in the form of Exhibit B‑4, as it may be amended, restated, supplemented or otherwise modified from time to time.
Syndication Agent” has the meaning set forth in the preamble.
Tax” means any present or future tax, levy, impost, duty, assessment, charge, fee, deduction or withholding (and interest, fines, penalties and additions related thereto) of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed.
Term Lenders” means the Lenders having Tranche A Term Loan Exposure, Tranche B Term Loan Exposure and Incremental Term Loan Exposure of each applicable Series.
Term Loan” means a Tranche A Term Loan, a Tranche B Term Loan and an Incremental Term Loan.
Term Loan Commitment” means the Tranche A Term Loan Commitment, the Tranche B Term Loan Commitment or the Incremental Term Loan Commitment of a Lender, and “Term Loan Commitments” means such commitments of all Lenders.

Term Loan Maturity Date” means the Tranche A Term Loan Maturity Date, the Tranche B Term Loan Maturity Date and the Incremental Term Loan Maturity Date of any Series of Incremental Term Loans.
Terminated Lender” has the meaning set forth in Section 2.23.
Title Company” has the meaning set forth in Section 5.12(d).
Title Policy” has the meaning set forth in Section 5.12(d).
Total Utilization of Canadian Revolving Commitments” means, as at any date of determination, the Dollar Equivalent of the sum of (i) the aggregate principal amount of all outstanding Canadian Revolving Loans (other than Canadian Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Bank for any amount drawn

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under any Canadian Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Canadian Swing Line Loans and (iii) the Canadian Letter of Credit Usage.
Total Utilization of European Revolving Commitments” means, as at any date of determination, the Euro Equivalent of the sum of (i) the aggregate principal amount of all outstanding European Revolving Loans (other than European Revolving Loans made for the purpose of reimbursing the applicable Issuing Bank for any amount drawn under any European Letter of Credit, but not yet so applied) and (ii) the European Letter of Credit Usage.
Total Utilization of U.S. Revolving Commitments” means, as at any date of determination, the Dollar Equivalent of the sum of (i) the aggregate principal amount of all outstanding U.S. Revolving Loans (other than U.S. Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Bank for any amount drawn under any U.S. Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding U.S. Swing Line Loans and (iii) the U.S. Letter of Credit Usage.
Trademarks” has the meaning set forth in the U.S. Pledge and Security Agreement.
Tranche A Term Loan” means a Tranche A Term Loan made by a Lender to the U.S. Borrower (i) on the Closing Date pursuant to the Original Credit Agreement or, (ii) on the Restatement Date pursuant to Section 2.01(a)(i, or (iii) on the Second Amendment Date pursuant to Section 2.01(a). The aggregate amount of Tranche A Term Loans as of the RestatementSecond Amendment Date after giving effect to the making of the Tranche A Term Loans as ofon the RestatementSecond Amendment Date, is $1,986,250,000.2,347,380,000.
Tranche A Term Loan Commitment” means the commitment of a Lender to make or otherwise to fund a Tranche A Term Loan and “Tranche A Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche A Term Loan Commitment as of the Closing Date and as of the RestatementSecond Amendment Date, if any, is set forth on Schedule 1.01(a) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof.
Tranche A Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche A Term Loans of such Lender; provided, that at any time prior to the making of the Tranche A Term Loans, the Tranche A Term Loan Exposure of any Lender shall be equal to such Lender’s Tranche A Term Loan Commitment.
Tranche A Term Loan Maturity Date” means, the earlier of (i) the sixthfifth anniversary of the ClosingSecond Amendment Date, which date is February 13, 2019,May 19, 2021, and (ii) the date on which all Tranche A Term Loans shall become due and payable in full hereunder, whether by acceleration or otherwise .
Tranche A Term Loan Note” means a promissory note substantially in the form of Exhibit B‑1, as it may be amended, restated, supplemented or otherwise modified from time to time.
Tranche B Term Loan” means a Tranche B Term Loan made by a Lender to the U.S. Borrower (i) on the Closing Date pursuant to the Original Credit Agreement or (ii) on the Restatement Date

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pursuant to Section 2.01(a)(ii). The aggregate amount of Tranche B Term Loans as of the RestatementSecond Amendment Date after giving effect to the makingprepayment of the Tranche B Term Loans on such date, is $1,188,562,500.0.
Tranche B Term Loan Commitment” means the commitment of a Lender to make or otherwise to fund a Tranche B Term Loan and “Tranche B Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment as of the Closing Date and as of the Restatement Date, if any, is set forth on Schedule 1.01(b) or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof.Second Amendment Date is $0.
Tranche B Term Loan Exposure” means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender; provided, that at any time prior to the making of the Tranche B Term Loans, the Tranche B Term Loan Exposure of any Lender shall be equal to such Lender’s Tranche B Term Loan Commitment.
Tranche B Term Loan Maturity Date” means the earlier of (i) the seventh anniversary of the Closing Date, which date is February 13, 2020, and (ii) the date on which all Tranche B Term Loans shall become due and payable in full hereunder, whether by acceleration or otherwise.
Tranche B Term Loan Note” means a promissory note substantially in the form of Exhibit B‑2, as it may be amended, restated, supplemented or otherwise modified from time to time.
Treasury Transaction” means any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price and not for speculative purposes.
Type of Loan” means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan, a Eurocurrency Rate Loan or a Canadian Prime Rate Loan and (ii) with respect to Swing Line Loans, a Base Rate Loan or a Canadian Prime Rate Loan.
UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction.
UCP” means, with respect to any commercial Letter of Credit, the “Uniform Customs and Practice for Documentary Credits” published by the International Chamber of Commerce as Publication No. 600 (or such later version thereof as may be in effect at the time of issuance of such commercial Letter of Credit).
UK” means the United Kingdom.
Unrestricted Cash” means, with respect to any Person, as of any date of determination, cash or Cash Equivalents of such Person and its Restricted Subsidiaries that would not appear as “restricted”, in accordance with GAAP, on a consolidated balance sheet of such Person and its Restricted Subsidiaries as of such date.
Unrestricted Subsidiary” means any Subsidiary of the U.S. Borrower designated by the Board of Directors of the U.S. Borrower (or a duly authorized committee thereof) as an Unrestricted Subsidiary pursuant to Section 6.03 hereof subsequent to the Closing Date, and any Subsidiary

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formed or acquired by an Unrestricted Subsidiary following such Unrestricted Subsidiary’s designation.
U.S. Borrower” has the meaning specified in the preamble hereto.
U.S. Contributing Guarantors” has the meaning set forth in Section 7.02(b).
U.S. Grantor” has the meaning specified in the U.S. Pledge and Security Agreement or the CKI Related Assets Pledge and Security Agreement, as applicable.
U.S. Guaranteed Obligations” has the meaning set forth in Section 7.01(a).
U.S. Guarantor” means each Guarantor that is a U.S. Subsidiary.
U.S. Issuing Bank” means an Issuing Bank that has agreed to issue U.S. Letters of Credit.
U.S. Lender” has the meaning set forth in Section 2.20(c).
U.S. Letter of Credit” means any commercial or standby letter of credit issued or to be issued by an Issuing Bank for the account of the U.S. Borrower or any of its Subsidiaries pursuant to Section 2.04(a)(i) of this Agreement, and any letter of credit issued and outstanding as of the Closing Date and designated by the Borrower Representative as a “U.S. Letter of Credit” pursuant to a written notice delivered to the Administrative Agent on or prior to the Closing Date; provided that the issuer thereof is a Revolving Lender hereunder or was, at the time such letter of credit was issued, a lender under the Existing PVH Credit Agreement. Each such letter of credit so designated shall be deemed to constitute a U.S. Letter of Credit and a Letter of Credit issued hereunder on the Closing Date (or, in the case of any letter of credit that was issued under the Existing PVH Credit Agreement, such later date (if any) as specified in a written notice delivered to the Administrative Agent on or prior to the Closing Date (it being understood that the Administrative Agent may extend such later date upon reasonable request by the Borrower Representative)) for all purposes under this Agreement and the other Loan Documents.
U.S. Letter of Credit Sublimit” means the lesser of (a) $370,000,000 and (b) the aggregate unused amount of the U.S. Revolving Commitments then in effect.
U.S. Letter of Credit Usage” means, as at any date of determination, the sum of (i) the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all U.S. Letters of Credit then outstanding, and (ii) the aggregate amount of all drawings under U.S. Letters of Credit honored by an Issuing Bank and not theretofore reimbursed by or on behalf of the U.S. Borrower.
U.S. Loan” means a Tranche A Term Loan, a Tranche B Term Loan, and/or a U.S. Revolving Loan, as applicable.
U.S. Loan Party” means the U.S. Borrower and each U.S. Guarantor.
U.S.-Owned Holdco” means any entity that (A) is disregarded as an entity separate from its owner for U.S. federal tax purposes and is directly owned by the U.S. Borrower or a U.S. Subsidiary, (B)

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is treated as a partnership for U.S. federal tax purposes and all of the partners of which are domestic corporations for U.S. federal tax purposes or (C) is a domestic corporation for U.S. federal tax purposes, and, in the case of clause (A), (B) or (C), directly owns Equity Interests in a Foreign Subsidiary and does not own any significant asset other than Equity Interests and Securities of Foreign Subsidiaries.
U.S. Pledge and Security Agreement” means the U.S. Pledge and Security Agreement, dated as of the Closing Date, executed by the U.S. Borrower and each U.S. Guarantor (other than CKI and the CKI Affiliates), as it may be amended, restated, supplemented or otherwise modified from time to time.
U.S. Refunded Swing Line Loans” has the meaning set forth in Section 2.03(b)(iv).
U.S. Revolving Commitment” means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the RestatementSecond Amendment Date is $475,000,000.
U.S. Revolving Commitment Period” means the period from and including the Closing Date to but excluding the U.S. Revolving Commitment Termination Date.
U.S. Revolving Commitment Termination Date” means the earliest to occur of (i) the sixthfifth anniversary of the ClosingSecond Amendment Date, which date is February 13, 2019,May 19, 2021, (ii) the date thesuch U.S. Revolving Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14 and (iii) the date of the termination of thesuch U.S. Revolving Commitments pursuant to Section 8.01.
U.S. Revolving Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of thesuch Lender’s U.S. Revolving Commitments, that Lender’s U.S. Revolving Commitment; and (ii) after the termination of thesuch Lender’s U.S. Revolving Commitments, the sum of (a) the aggregate outstanding principal amount of the U.S. Revolving Loans of that Lender, (b) in the case of an Issuing Bank, the aggregate U.S. Letter of Credit Usage in respect of all U.S. Letters of Credit issued by such Issuing Bank (net of any participations by Lenders in such U.S. Letters of Credit), (c) the aggregate amount of all participations by that Lender in any outstanding U.S. Letters of Credit or any unreimbursed drawing under any U.S. Letter of Credit, (d) in the case of the U.S. Swing Line Lender, the aggregate outstanding principal amount of all U.S. Swing Line Loans (net of any participations therein by other Lenders), and (e) the aggregate amount of all participations therein by that Lender in any outstanding U.S. Swing Line Loans.
U.S. Revolving Loan” means Loans made by a Lender in respect of its U.S. Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(a) and/or Section 2.24.

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U.S. Security Agreements” means the U.S. Pledge and Security Agreement and the CKI Related Assets Pledge and Security Agreement.
U.S. Subsidiary” means any Restricted Subsidiary other than a Foreign Subsidiary.
U.S. Swing Line Lender” means Barclays in its capacity as the U.S. Swing Line Lender hereunder, together with its permitted successors and assigns in such capacity.
U.S. Swing Line Loan” means a Loan made by the U.S. Swing Line Lender to the U.S. Borrower pursuant to Section 2.03(a)(i).
U.S. Swing Line Sublimit” means the lesser of (i) $25,000,00050,000,000 and (ii) the aggregate unused amount of U.S. Revolving Commitments then in effect.
Valuation Date” means (i) the date two Business Days prior to the making, continuing or converting of any Revolving Loan or the date of issuance or continuation of any Letter of Credit and (ii) any other date designated by the Administrative Agent or Issuing Bank.
Waivable Mandatory Prepayment” has the meaning set forth in Section 2.15(d).
Warnaco Material Adverse Effect” means any fact, circumstance, occurrence, effect, change, event or development that (i) materially adversely affects the business, properties, financial condition or results of operations of the Acquired Business and its Subsidiaries, taken as a whole; provided, however, that any fact, circumstance, occurrence, effect, change, event or development arising from or related to (except, in the case of clause (a), (b), (c), (d), (e), (f) or (j) below, to the extent disproportionately affecting the Acquired Business and its Subsidiaries, taken as a whole, relative to other companies in the industries in which the Acquired Business and its Subsidiaries operate, in which case only the incremental disproportionate effect shall be taken into account): (a) conditions affecting the United States economy, or any other national or regional economy or the global economy generally, (b) political conditions (or changes in such conditions) in the United States or any other country or region in the world or acts of war, sabotage or terrorism (including any escalation or general worsening of any such acts of war, sabotage or terrorism) in the United States or any other country or region of the world occurring after October 29, 2012, (c) changes in the financial, credit, banking or securities markets in the United States or any other country or region in the world (including any disruption thereof and any decline in the price of any security or any market index), (d) changes required by GAAP or other accounting standards (or interpretations thereof), (e) changes in any Laws (as defined in the Acquisition Agreement) or other binding directives issued by any Governmental Entity (as defined in the Acquisition Agreement) (or interpretations thereof), (f) changes that are generally applicable to the industries in which the Acquired Business and its Subsidiaries operate, (g) any failure by the Acquired Business to meet any internal or published projections, forecasts or revenue or earnings predictions for any period ending on or after the date of the Acquisition Agreement or any decline in the market price or trading volume of the stock of the Acquired Business (provided that the underlying causes of any such failure or decline may be considered in determining whether a Warnaco Material Adverse Effect has occurred or would reasonably be expected to occur to the extent not otherwise excluded by another exception herein), (h) the public announcement (including as to the identity of the parties hereto) or consummation of the Acquisition or any of the transactions contemplated by the Acquisition Agreement, (i) changes

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in the credit rating of the Acquired Business (provided that the underlying causes of such decline may be considered in determining whether a Warnaco Material Adverse Effect has occurred or would reasonably be expected to occur to the extent not otherwise excluded by another exception herein), (j) the occurrence of natural disasters or (k) any action required by the terms of the Acquisition Agreement or with the prior written consent or at the direction of the other party, shall not be taken into account in determining whether a Warnaco Material Adverse Effect has occurred or would reasonably be expected to occur, or (ii) would prevent the Acquired Business from consummating the transactions contemplated by the Acquisition Agreement.
Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment by (ii) the then outstanding principal amount of such Indebtedness.
Wholly-Owned Restricted Subsidiary” means, with respect to any Person, any other Person all of the Equity Interests of which (other than (x) directors’ qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable law) are owned by such Person directly and/or indirectly through other wholly-owned Restricted Subsidiaries of such Person.
“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
Section 1.02    Accounting Terms. Except as otherwise expressly provided herein, all accounting terms not otherwise defined herein shall have the meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered by the Borrower Representative to Lenders pursuant to Sections 5.01(a) and 5.01(b) shall be prepared in accordance with GAAP as in effect at the time of such preparation (and delivered together with the reconciliation statements provided for in Section 5.01(d), if applicable). Subject to the foregoing, calculations in connection with the definitions, covenants and other provisions hereof shall utilize accounting principles and policies in material conformity with those used to prepare the Historical Financial Statements of the U.S. Borrower; provided that in the event of any change in accounting principles or policies with respect to the Group’s pension and postretirement plans such calculations shall utilize those accounting principles or policies with respect to the Group’s pension and postretirement plans in effect at the time such calculations are made; provided, furtherGAAP; provided, that if a change in GAAP would materially change the calculation of the financial covenants, standards or terms of this Agreement, (i) the Borrower Representative shall provide prompt notice of such change to the Administrative Agent and (ii) the Borrower Representative or the Administrative Agent may request that such calculations continue to be made in accordance with GAAP without giving effect to such change (in which case the Borrower Representative, the Administrative Agent and the Lenders agree to negotiate in good faith to amend the provisions hereof to eliminate the effect of such change in GAAP, but until such amendment is entered into,

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the calculations shall be made in accordance with those used to prepare the Historical Financial Statements of the U.S. BorrowerGAAP without giving effect to such change).
Section 1.03    Interpretation, Etc. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Article, Section, Schedule or Exhibit shall be to an Article, a Section, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the word “include” or “including”, when following any general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term or matter. The word “will” shall be construed to have the same meaning and effect as the word “shall”; and the words “asset” and “property” shall be construed as having the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Securities, accounts and contract rights. The terms lease and license shall include sub-lease and sub-license, as applicable. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Except as otherwise expressly provided herein or therein, any reference in this Agreement or any other Loan Document to any agreement, document or instrument shall mean such agreement, document or instrument as amended, restated, supplemented or otherwise modified from time to time, in each case, in accordance with the express terms of this Agreement or such Loan Document.
Section 1.04    Exchange Rates; Currency Equivalents; Basket Calculations.
(a)    The Administrative Agent or the Issuing Bank, as applicable, shall determine the Exchange Rates as of each Valuation Date to be used for calculating Euro Equivalent and Dollar Equivalent amounts of Credit Extensions and amounts outstanding hereunder denominated in other Approved Currencies. Such Exchange Rates shall become effective as of such Valuation Date and shall be the Exchange Rates employed in converting any amounts between the applicable currencies until the next Valuation Date to occur. Except for purposes of financial statements delivered by the Borrower Representative hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be the Dollar Equivalent of such currency as so determined by the Administrative Agent or the Issuing Bank, as applicable.
(b)    Whenever in this Agreement in connection with a borrowing, conversion, continuation or prepayment of a Eurocurrency Rate Loan or a Canadian Prime Rate Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars or Euros, but such borrowing, Eurocurrency Rate Loan, Canadian Prime Rate Loan or Letter of Credit is denominated in another Approved Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar or Euro amount (rounded to the nearest unit of such other Approved Currency, with 0.5 or a unit being rounded upward), as determined by the Administrative Agent or the Issuing Bank, as the case may be.

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(c)    Notwithstanding the foregoing, for purposes of determining compliance with Sections 6.01, 6.02, 6.04, 6.06, 6.08 and 6.10, (i) with respect to any amount of cash on deposit, Indebtedness, Investment, Restricted Payment, Lien, Asset Sale or Attributable Indebtedness (each, a “Covenant Transaction”) in a currency other than Dollars, no Default or Event of Default shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Covenant Transaction is incurred or made, and (ii) with respect to any Covenant Transaction incurred or made in reliance on a provision that makes reference to a percentage of Consolidated Total Assets, no Default or Event of Default shall be deemed to have occurred solely as a result of changes in the amount of Consolidated Total Assets occurring after the time such Covenant Transaction is incurred or made in reliance on such provision.
(d)    For purposes of determining compliance with the Net Leverage Ratio, the amount of any Indebtedness denominated in any currency other than Dollars will be converted into Dollars based on the relevant currency exchange rate in effect on the date of the financial statements on which the applicable Consolidated Adjusted EBITDA is calculated. For purposes of determining compliance with Sections 6.01, 6.02, 6.04, 6.06, 6.08 and 6.10, with respect to the amount of any Covenant Transaction in a currency other than Dollars, such amount (i) if incurred or made in reliance on a fixed Dollar basket, will be converted into Dollars based on the relevant currency exchange rate in effect on the ClosingSecond Amendment Date, and (ii) if incurred in reliance on a percentage basket, will be converted into Dollars based on the relevant currency exchange rate in effect on the date such Covenant Transaction is incurred or made and such percentage basket will be measured at the time such Covenant Transaction is incurred or made.
(e)    For the avoidance of doubt, in the case of a Loan denominated in an Approved Currency other than Dollars, except as expressly provided herein, all interest and fees shall accrue and be payable thereon based on the actual amount outstanding in such Approved Currency (without any translation into the Dollar Equivalent thereof).
(f)    If at any time on or following the Closing Date all of the Participating Member States that had adopted the Euro as their lawful currency on or prior to the Closing Date cease to have the Euro as their lawful national currency unit, then the U.S. Borrower, the Administrative Agent, and the Lenders will negotiate in good faith to amend the Loan Documents to (a) follow any generally accepted conventions and market practice with respect to redenomination of obligations originally denominated in Euro, and (b) otherwise appropriately reflect the change in currency.
Section 1.05    Dutch Terms. In this Agreement, where it relates to a European Loan Party, a reference to:
(a)    a necessary action to authorize where applicable, includes without limitation: any action requires to comply with the Dutch Works Councils Act (Wet op de ondernemingsraden);
(b)    gross negligence means grove schuld;
(c)    willful misconduct means opzet;
(d)    a dissolution includes a Dutch entity being dissolved (ontbonden);

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(e)    a moratorium includes surseance van betaling and granted a moratorium includes surseance verleend;
(f)    any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the 1990 Dutch Tax Collection Act (Invorderingswet 1990);
(g)    a receiver includes a curator;
(h)    an administrator includes a bewindvoerder; and
(i)    an attachment includes a beslag.
ARTICLE II.
LOANS AND LETTERS OF CREDIT
Section 2.01    Term Loans.
(a)    Loan Commitments. On the Closing Date, the Original Lenders made Tranche A Term Loans to the U.S. Borrower in an aggregate principal amount equal to $1,700,000,000 and Tranche B Term Loans to the U.S. Borrower in an aggregate principal amount equal to $1,375,000,000. On the Restatement Date, the Lenders made Tranche A Term Loans and Tranche B Term Loans to the U.S. Borrower in the amounts equal to their applicable First Amendment Tranche A Term Loan Commitments and First Amendment Tranche B Term Loan Commitments. Subject to the terms and conditions hereof,
(i)    each Lender severally agrees to make, on the RestatementSecond Amendment Date, a Second Amendment Incremental Tranche A Term Loan to the U.S. Borrower in an amount equal to its FirstSecond Amendment Tranche A Term Loan Commitment; and(ii)    each Lender severally agrees to make, on the Restatement Date, a Tranche B Term Loan to the U.S. Borrower in an amount equal to its First Amendment Tranche B Term Commitment.
The U.S. Borrower may make only one borrowing under each of the First Amendment Tranche A Term Loan Commitments and the First Amendment Tranche B Term Loan Commitments, which shall be on the Restatement Date. The U.S. Borrower may make only one borrowing under the Second Amendment Tranche A Term Loan Commitment which shall be on the Second Amendment Date. Any amount borrowed under this Section 2.01(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Tranche A Term Loans and the Tranche B Term Loans shall be paid in full no later than the applicable Tranche A Term Loan Maturity Date and the Tranche B Term Loan Maturity Date, respectively. Each Lender’s FirstSecond Amendment Tranche A Term Loan Commitments and First Amendment Tranche B Term Loan CommitmentsCommitment shall terminate immediately and without further action on the RestatementSecond Amendment Date after giving effect to the funding of such Lender’s Second Amendment Incremental Tranche A Term Loans and Tranche B Term LoansLoan on such date.

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(b)    Borrowing Mechanics for Term Loans on the RestatementSecond Amendment Date.
(i)    [Reserved]
(ii)    [Reserved]
(iii)    (i) The Borrower Representative shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than one Business Day prior to the RestatementSecond Amendment Date in the case of a Second Amendment Incremental Tranche A Term Loan that is a Base Rate Loan and that is to be made on the RestatementSecond Amendment Date as described in Section 2.01(a) and three Business Days prior to the RestatementSecond Amendment Date in the case of a Second Amendment Incremental Tranche A Term Loan that is a Eurocurrency Rate Loan and that is to be made on the RestatementSecond Amendment Date as described in Section 2.01(a), which notice shall, in each case, be revocable prior to the RestatementSecond Amendment Date by the Borrower Representative in its sole discretion subject to Section 2.18(c)(i) below. Promptly upon receipt by the Administrative Agent of such Borrowing Notice, the Administrative Agent shall notify each Lender of the proposed borrowing.
(iv)    (ii) Each Lender shall make its Second Amendment Incremental Tranche A Term Loans and/or Tranche B Term Loans, as the case may be, to be made on the Restatement Date pursuant to Section 2.01(a), available to the Administrative Agent not later than 9:00 a.m. (New York City time) on the RestatementSecond Amendment Date by wire transfer of same day funds in Dollars at the Principal Office designated by the Administrative Agent. The Administrative Agent shall make the proceeds of such Second Amendment Incremental Tranche A Term Loans and Tranche B Term Loans available to the U.S. Borrower on the RestatementSecond Amendment Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by the Administrative Agent from Lenders to be credited to the account of the U.S. Borrower at the Principal Office designated by the Administrative Agent or to such other account as may be designated in writing to the Administrative Agent by the U.S. Borrower.

Section 2.02    Revolving Loans.
(a)    U.S. Revolving Commitments. During the U.S. Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make U.S. Revolving Loans to the U.S. Borrower in an aggregate amount up to but not exceeding such Lender’s U.S. Revolving Commitment; provided, that after giving effect to the making of any U.S. Revolving Loans in no event shall the Total Utilization of U.S. Revolving Commitments exceed the U.S. Revolving Commitments then in effect. Loans in respect of the U.S. Revolving Commitments shall be drawn in Dollars. Amounts borrowed pursuant to this Section 2.02(a) may be repaid and reborrowed during the applicable Revolving Commitment Period. Each Lender’s U.S. Revolving Commitments shall expire on the U.S. Revolving Commitment Termination Date and all U.S. Revolving Loans extended with respect to such U.S. Revolving Commitments and all other amounts

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owed hereunder with respect to the U.S. Revolving Loans and the U.S. Revolving Commitments shall be paid in full no later than such date.
(b)    European Revolving Commitments. During the European Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make European Revolving Loans to the European Borrower in an aggregate amount up to but not exceeding such Lender’s European Revolving Commitment; provided, that after giving effect to the making of any European Revolving Loans in no event shall the Total Utilization of European Revolving Commitments exceed the European Revolving Commitments then in effect. Loans in respect of the European Revolving Commitments may be drawn in Euros or an Other Foreign Currency, as specified in the Borrowing Notice. Amounts borrowed pursuant to this Section 2.02(b) may be repaid and reborrowed during the applicable Revolving Commitment Period. Each Lender’s European Revolving Commitments shall expire on the European Revolving Commitment Termination Date and all European Revolving Loans and all other amounts owed hereunder with respect to the European Revolving Loans and the European Revolving Commitments shall be paid in full no later than such date. Subject to the terms of this Agreement and the Ancillary Documents, an Ancillary Lender may make available an Ancillary Facility to the European Borrower or an Ancillary Borrower in place of all or part of its European Revolving Commitments.
(c)    Canadian Revolving Commitments. During the Canadian Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Canadian Revolving Loans to the U.S. Borrower in an aggregate amount up to but not exceeding such Lender’s Canadian Revolving Commitment; provided, that after giving effect to the making of any Canadian Revolving Loans in no event shall the Total Utilization of Canadian Revolving Commitments exceed the Canadian Revolving Commitments then in effect. Loans in respect of the Canadian Revolving Commitments may be drawn in Dollars or Canadian Dollars. Amounts borrowed pursuant to this Section 2.02(c) may be repaid and reborrowed during the applicable Revolving Commitment Period. Each Lender’s Canadian Revolving Commitments shall expire on the Canadian Revolving Commitment Termination Date and all Canadian Revolving Loans and all other amounts owed hereunder with respect to the Canadian Revolving Loans and thesuch Canadian Revolving Commitments shall be paid in full no later than such date.
(d)    Borrowing Mechanics for Revolving Loans.
(i)    Except pursuant to Section 2.04(d), (x) U.S. Revolving Loans that are Base Rate Loans and Canadian Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans shall be made in a minimum amount of $5,000,000 (or, with regard to Loans denominated in Canadian Dollars, the applicable Foreign Currency Equivalent) and integral multiples of $1,000,000 (or, with regard to Loans denominated in Canadian Dollars, the applicable Foreign Currency Equivalent) in excess of that amount, (y) U.S. Revolving Loans and Canadian Revolving Loans that are Eurocurrency Rate Loans shall be in a minimum amount of $1,000,000 (or, with regard to Loans denominated in Canadian Dollars, the applicable Foreign Currency Equivalent) and integral multiples of $1,000,000 (or, with regard to Loans denominated in Canadian Dollars, the applicable Foreign Currency Equivalent) in excess of that amount and (z) European Revolving Loans shall be in a minimum amount of €1,000,000 (or, with regard to Loans denominated in Other

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Foreign Currencies, the applicable Foreign Currency Equivalent) and integral multiples of €1,000,000 (or, with regard to Loans denominated in Other Foreign Currencies, the applicable Foreign Currency Equivalent) in excess of that amount.
(ii)    Whenever the U.S. Borrower desires that Lenders make Revolving Loans to it, it shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 10:00 a.m. (New York City time) (x) at least three Business Days in advance of the proposed Credit Date in the case of a Eurocurrency Rate Loan denominated in Dollars or Canadian Dollars and (y) at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan denominated in Dollars or a Revolving Loan that is a Canadian Prime Rate Loan denominated in Canadian Dollars. Whenever the European Borrower desires that Lenders make European Revolving Loans, it shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 10:00 a.m. (London, England time) at least three Business Days in advance of the proposed Credit Date. Except as otherwise provided herein, a Borrowing Notice for a Revolving Loan that is a Eurocurrency Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and the applicable Borrower shall be bound to make a borrowing in accordance therewith.
(iii)    Notice of receipt of each Borrowing Notice in respect of U.S. Revolving Loans or Canadian Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 10:00 a.m. (New York City time)) not later than 2:00 p.m. (New York City time) on the same day as the Administrative Agent’s receipt of such Notice from the U.S. Borrower. Each Lender shall make the amount of its U.S. Revolving Loan or Canadian Revolving Loan, as applicable, available to the Administrative Agent not later than 12:00 p.m. (New York City time) on the applicable Credit Date by wire transfer of same day funds in the requested Approved Currency, at the Principal Office designated by the Administrative Agent.
(iv)    Notice of receipt of each Borrowing Notice in respect of European Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof, if any, together with the applicable interest rate, shall be provided by the Administrative Agent to each applicable Lender by telefacsimile with reasonable promptness, but (provided the Administrative Agent shall have received such notice by 10:00 a.m. (London, England time)) not later than 2:00 p.m. (London, England time) on the same day as the Administrative Agent’s receipt of such Notice from the European Borrower. Each Lender shall make the amount of its European Revolving Loan available to the Administrative Agent not later than 12:00 p.m. (London, England time) on the applicable Credit Date by wire transfer of same day funds in the requested Approved Currency, at the Principal Office designated by the Administrative Agent.
(v)    Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of Revolving

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Loans available to the applicable Borrower on the applicable Credit Date by causing an amount of same day funds in the requested Approved Currency equal to the proceeds of all such Revolving Loans received by the Administrative Agent from Lenders to be credited to the account of the applicable Borrower at the Principal Office designated by the Administrative Agent or such other account as may be designated in writing to the Administrative Agent by the applicable Borrower or the Borrower Representative.
Section 2.03    Swing Line Loans.
(a)    Swing Line Loans Commitments.
(i)    From time to time during the U.S. Revolving Commitment Period, subject to the terms and conditions hereof, the U.S. Swing Line Lender hereby agrees to make U.S. Swing Line Loans to the U.S. Borrower in the aggregate amount up to but not exceeding the U.S. Swing Line Sublimit; provided, that after giving effect to the making of any U.S. Swing Line Loan, in no event shall the Total Utilization of U.S. Revolving Commitments exceed the U.S. Revolving Commitments then in effect. Amounts borrowed pursuant to this Section 2.03(a)(i) may be repaid and reborrowed during the U.S. Revolving Commitment Period. The U.S. Swing Line Lender’s Revolving Commitment shall expire on the U.S. Revolving Commitment Termination Date. All U.S. Swing Line Loans and all other amounts owed hereunder with respect to the U.S. Swing Line Loans shall be paid in full on the earlier of (i) the date which is three days after the incurrence thereof and (ii) the U.S. Revolving Commitment Termination Date; and
(ii)    From time to time during the Canadian Revolving Commitment Period, subject to the terms and conditions hereof, the Canadian Swing Line Lender hereby agrees to make Canadian Swing Line Loans to the U.S. Borrower in the aggregate amount up to but not exceeding the Canadian Swing Line Sublimit; provided, that after giving effect to the making of any Canadian Swing Line Loan, in no event shall the Total Utilization of Canadian Revolving Commitments exceed the Canadian Revolving Commitments then in effect. Amounts borrowed pursuant to this Section 2.03(a)(ii) may be repaid and reborrowed during the Canadian Revolving Commitment Period. The Canadian Swing Line Lender’s Canadian Revolving Commitment shall expire on the Canadian Revolving Commitment Termination Date. All Canadian Swing Line Loans and all other amounts owed hereunder with respect to the Canadian Swing Line Loans shall be paid in full on the earlier of (i) the date which is three days after the incurrence thereof and (ii) the Canadian Revolving Commitment Termination Date.
(b)    Borrowing Mechanics for Swing Line Loans.
(i)    Swing Line Loans shall be made in a minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount.
(ii)    Whenever the U.S. Borrower desires that the U.S. Swing Line Lender make a U.S. Swing Line Loan, the U.S. Borrower shall deliver to the Administrative Agent a

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Borrowing Notice no later than 10:30 a2:00 p.m. (New York City time) on the proposed Credit Date. Whenever the U.S. Borrower desires that the Canadian Swing Line Lender make a Canadian Swing Line Loan, the U.S. Borrower shall deliver to the Administrative Agent a Borrowing Notice no later than 1012:00 ap.m. (Noon) (New York City time) on the proposed Credit Date.
(iii)    The applicable Swing Line Lender shall make the amount of its Swing Line Loan available to the Administrative Agent not later than 1(i) 3:00 p.m. (New York City time) in the case of a U.S. Swing Line Lender, or (ii) 3:00 p.m. (New York City time) in the case of a Canadian Swing Line Lender, in each case on the applicable Credit Date by wire transfer of same day funds in Dollars or Canadian Dollars (as applicable), at the Administrative Agent’s Principal Office. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Swing Line Loans available to the U.S. Borrower promptly upon receipt from such Swing Line Lender on the applicable Credit Date by causing an amount of same day funds in Dollars or Canadian Dollars equal to the proceeds of all such Swing Line Loans received by the Administrative Agent from the applicable Swing Line Lender to be credited to the account of the U.S. Borrower at the Administrative Agent’s Principal Office, or to such other account as may be designated in writing to the Administrative Agent by the U.S. Borrower.
(iv)    With respect to any Swing Line Loans which have not been voluntarily prepaid by the U.S. Borrower pursuant to Section 2.13(a) or repaid pursuant to Section 2.03(a), the applicable Swing Line Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (with a copy to the U.S. Borrower), no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed Credit Date, a notice (which shall be deemed to be a Borrowing Notice given by the U.S. Borrower) requesting that (x) with regard to any U.S. Swing Line Loan, each Lender holding a U.S. Revolving Commitment make U.S. Revolving Loans that are Base Rate Loans to the U.S. Borrower on such Credit Date in an amount equal to the amount of such U.S. Swing Line Loans (the “U.S. Refunded Swing Line Loans”) outstanding on the date such notice is given which the U.S. Swing Line Lender requests Lenders to prepay, and (y) with regard to any Canadian Swing Line Loan, each Lender holding a Canadian Revolving Commitment make Canadian Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans, as applicable, to the U.S. Borrower on such Credit Date in an amount equal to the amount of such Canadian Swing Line Loans (the “Canadian Refunded Swing Line Loans” and, together with the U.S. Refunded Swing Line Loans, the “Refunded Swing Line Loans”) outstanding on the date such notice is given which the Canadian Swing Line Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Loans made by the Lenders other than the applicable Swing Line Lender shall be immediately delivered by the Administrative Agent to the applicable Swing Line Lender (and not to the U.S. Borrower) and applied to repay a corresponding portion of the applicable Refunded Swing Line Loans and (2) on the day such Revolving Loans are made, the applicable Swing Line Lender’s Pro Rata Share of the Refunded Swing Line Loans shall

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be deemed to be paid with the proceeds of a Revolving Loan made by the applicable Swing Line Lender to the U.S. Borrower, and such portion of the Swing Line Loans deemed to be so paid shall no longer be outstanding as Swing Line Loans and shall no longer be due under the applicable Swing Line Note of the applicable Swing Line Lender but shall instead constitute part of the applicable Swing Line Lender’s outstanding Revolving Loans to the U.S. Borrower and shall be due under the applicable Revolving Loan Note issued by the U.S. Borrower to the applicable Swing Line Lender. If any portion of any such amount paid (or deemed to be paid) to the applicable Swing Line Lender should be recovered by or on behalf of the U.S. Borrower from the applicable Swing Line Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Lenders in the manner contemplated by Section 2.17.
(v)    If for any reason Revolving Loans are not made pursuant to Section 2.03(b)(iv) in an amount sufficient to repay any amounts owed to the applicable Swing Line Lender in respect of any outstanding Swing Line Loans on or before the third Business Day after demand for payment thereof by the applicable Swing Line Lender, (x) each Lender holding a U.S. Revolving Commitment shall be deemed to, and hereby agrees to, have purchased a participation in such outstanding U.S. Swing Line Loans in an amount equal to its Pro Rata Share of the applicable unpaid amount together with accrued interest thereon, and (y) each Lender holding a Canadian Revolving Commitment shall be deemed to, and hereby agrees to, have purchased a participation in such outstanding Canadian Swing Line Loans in an amount equal to its Pro Rata Share of the applicable unpaid amount together with accrued interest thereon. Upon one Business Day’s notice from the applicable Swing Line Lender, each Lender holding a U.S. Revolving Commitment or a Canadian Revolving Commitment, as applicable,deemed to have purchased a participation pursuant to the immediately preceding sentence shall deliver to the applicable Swing Line Lender an amount equal to its respective participation in the applicable unpaid amount in same day funds at the Principal Office of such Swing Line Lender. In order to evidence such participation each Lender holding such a Revolving Commitment agrees to enter into a participation agreement at the request of the applicable Swing Line Lender in form and substance reasonably satisfactory to the applicable Swing Line Lender. In the event any Lender holding such a Revolving Commitmentdeemed to have purchased a participation pursuant to the first sentence of this clause (v) fails to make available to the applicable Swing Line Lender the amount of such Lender’s participation as provided in this paragraph, the applicable Swing Line Lender shall be entitled to recover such amount on demand from such Lender together with interest thereon for three Business Days at the rate customarily used by the applicable Swing Line Lender for the correction of errors among banks and thereafter at the Base Rate or the Canadian Prime Rate, as applicable.
(vi)    Notwithstanding anything contained herein to the contrary, (1) each Lender’s obligation to make Revolving Loans for the purpose of repaying any Refunded Swing Line Loans pursuant to Section 2.03(b)(iv) and each Lender’s obligation to purchase a participation in any unpaid Swing Line Loans pursuant to the immediately preceding paragraph shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set‑off, counterclaim, recoupment, defense or other right

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which such Lender may have against the applicable Swing Line Lender, any Loan Party or any other Person for any reason whatsoever; (B) the occurrence or continuation of a Default or Event of Default; (C) any adverse change in the business, operations, properties, assets, condition (financial or otherwise) or prospects of any Loan Party; (D) any breach of this Agreement or any other Loan Document by any party thereto; or (E) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing; provided, that such obligations of each Lender are subject to the condition that the applicable Swing Line Lender had not received prior notice from the U.S. Borrower or the Required Lenders that any of the conditions under Section 3.02 to the making of the applicable Refunded Swing Line Loans or other unpaid Swing Line Loans were not satisfied at the time such Refunded Swing Line Loans or unpaid Swing Line Loans were made; and (2) no Swing Line Lender shall be obligated to make any Swing Line Loans (A) if it has elected not to do so after the occurrence and during the continuation of a Default or Event of Default, (B) it does not in good faith believe that all conditions under Section 3.02 to the making of such Swing Line Loan have been satisfied or waived by the Required Lenders or (C) at a time when any Lender is a Defaulting Revolving Lender with U.S. Revolving Commitments or Canadian Revolving Commitments, as applicable, unless the applicable Swing Line Lender has entered into arrangements satisfactory to it and the U.S. Borrower to eliminate the applicable Swing Line Lender’s risk with respect to the Defaulting Revolving Lender’s participation in such Swing Ling Loan, including by the U.S. Borrower cash collateralizing such Defaulting Revolving Lender’s Pro Rata Share of the outstanding Swing Line Loans.
Section 2.04    Issuance of Letters of Credit and Purchase of Participations Therein.
(a)    Letters of Credit.
(i)    During the U.S. Revolving Commitment Period, subject to the terms and conditions hereof, each U.S. Issuing Bank agrees to issue U.S. Letters of Credit for the account of the U.S. Borrower or any Restricted Subsidiary thereof in the aggregate amount up to but not exceeding the U.S. Letter of Credit Sublimit; provided, that (i) each U.S. Letter of Credit shall be denominated in Dollars; (ii) the stated amount of each U.S. Letter of Credit shall not be less than $2,000 or such lesser amount as is acceptable to the applicable Issuing Bank; (iii) after giving effect to such issuance, in no event shall the Total Utilization of U.S. Revolving Commitments exceed the U.S. Revolving Commitments then in effect; (iv) after giving effect to such issuance, in no event shall the U.S. Letter of Credit Usage exceed the U.S. Letter of Credit Sublimit then in effect; (v) in no event shall any standby U.S. Letter of Credit have an expiration date later than the earlier of (1) the U.S. Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Letter of Credit; and (vi) in no event shall any commercial U.S. Letter of Credit have an expiration date later than the earlier of (1) the U.S. Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Letter of Credit.
(ii)    During the European Revolving Commitment Period, subject to the terms and conditions hereof, each European Issuing Bank agrees to issue European Letters of

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Credit for the account of any Foreign Subsidiary in the aggregate amount up to but not exceeding the European Letter of Credit Sublimit; provided, that (i) each European Letter of Credit shall be denominated in Euros or an Other Foreign Currency; (ii) the stated amount of each European Letter of Credit shall not be less than €1,500 (or the applicable Foreign Currency Equivalent) or such lesser amount as is acceptable to the applicable Issuing Bank; (iii) after giving effect to such issuance, in no event shall the Total Utilization of European Revolving Commitments exceed the European Revolving Commitments then in effect; (iv) after giving effect to such issuance, in no event shall the European Letter of Credit Usage exceed the European Letter of Credit Sublimit then in effect; (v) in no event shall any standby European Letter of Credit have an expiration date later than the earlier of (1) the European Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Letter of Credit; and (vi) in no event shall any commercial European Letter of Credit have an expiration date later than the earlier of (1) the European Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Letter of Credit.
(iii)    During the Canadian Revolving Commitment Period, subject to the terms and conditions hereof, each Canadian Issuing Bank agrees to issue Canadian Letters of Credit for the account of the U.S. Borrower or any Restricted Subsidiary thereof in the aggregate amount up to but not exceeding the Canadian Letter of Credit Sublimit; provided, that (i) each Canadian Letter of Credit shall be denominated in Dollars or Canadian Dollars; (ii) the stated amount of each Canadian Letter of Credit shall not be less than $2,000 (or the applicable Foreign Currency Equivalent) or such lesser amount as is acceptable to the applicable Issuing Bank; (iii) after giving effect to such issuance, in no event shall the Total Utilization of Canadian Revolving Commitments exceed the Canadian Revolving Commitments then in effect; (iv) after giving effect to such issuance, in no event shall the Canadian Letter of Credit Usage exceed the Canadian Letter of Credit Sublimit then in effect; (v) in no event shall any standby Canadian Letter of Credit have an expiration date later than the earlier of (1) the Canadian Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Letter of Credit; and (vi) in no event shall any commercial Canadian Letter of Credit have an expiration date later than the earlier of (1) the Canadian Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Letter of Credit.
Subject to the foregoing, (i) an Issuing Bank may agree that a standby Letter of Credit shall automatically be extended for one or more successive periods not to exceed one year each; provided, that no Issuing Bank shall extend any such Letter of Credit if it has received written notice that an Event of Default has occurred and is continuing at the time such Issuing Bank must elect to allow such extension; (ii) if the applicable Issuing Bank and the Administrative Agent each consent in their sole discretion, the expiration date on any Letter of Credit may extend beyond the applicable Revolving Commitment Termination Date; provided, that if any such Letter of Credit is outstanding or the expiration date is extended to a date after the date that is five Business Days prior to the applicable Revolving Commitment Termination Date, the applicable Borrower shall Cash Collateralize such Letter of Credit on or prior to the date that is five Business Days prior to the

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applicable Revolving Commitment Termination Date; and (iii) in the event that any Lender is a Defaulting Revolving Lender, the applicable Issuing Bank shall not be required to issue any Letter of Credit under the applicable Revolving Commitment unless such Issuing Bank has entered into arrangements satisfactory to it and the applicable Borrower to eliminate such Issuing Bank’s risk with respect to the participation in Letters of Credit of the Defaulting Revolving Lender, including by cash collateralizing such Defaulting Revolving Lender’s Pro Rata Share of the applicable Letter of Credit Usage. Notwithstanding the foregoing, Barclays shall have no obligation to issue commercial Letters of Credit unless separately agreed to by Barclays and the Borrower Representative.
(b)    Notice of Issuance.
(i)    Whenever the U.S. Borrower or any Restricted Subsidiary thereof desires the issuance of a Letter of Credit, the U.S. Borrower shall (x) in the case of standby Letters of Credit, deliver to the Administrative Agent and the applicable Issuing Bank an Issuance Notice (or such other notice as may be agreed by such Issuing Bank) no later than 12:00 p.m. (New York City time) at least three Business Days in advance of the proposed date of issuance, or such shorter period as may be agreed to by the Issuing Bank in any particular instance and (y) in the case of commercial Letters of Credit, deliver to the applicable Issuing Bank an application therefor on the proposed date of issuance. Such Issuance Notice shall specify if such Letter of Credit is requested under the U.S. Revolving Commitments or the Canadian Revolving Commitments. Upon satisfaction or waiver of the conditions set forth in Section 3.02, the Issuing Bank shall issue the requested Letter of Credit only in accordance with the Issuing Bank’s standard operating procedures. Upon the issuance of any U.S. Letter of Credit or amendment or modification to a U.S. Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender with a U.S. Revolving Commitment, of such issuance, or amendment or modification and the amount of such Lender’s respective participation in such U.S. Letter of Credit pursuant to Section 2.04(e). Upon the issuance of any Canadian Letter of Credit or amendment or modification to a Canadian Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender with a Canadian Revolving Commitment, of such issuance, amendment or modification to such Canadian Letter of Credit and the amount of such Lender’s respective participation in such Canadian Letter of Credit pursuant to Section 2.04(e).
(ii)    Whenever any Foreign Subsidiary desires the issuance of a Letter of Credit, the European Borrower or the Borrower Representative shall (x) in the case of standby Letters of Credit, deliver to the Administrative Agent and the applicable Issuing Bank an Issuance Notice (or such other notice as may be agreed by such Issuing Bank) no later than 12:00 p.m. (London, England time) at least three Business Days in advance of the proposed date of issuance, or such shorter period as may be agreed to by the Issuing Bank in any particular instance and (y) in the case of commercial Letters of Credit, deliver to the applicable Issuing Bank an application therefor on the proposed date of issuance. Upon satisfaction or waiver of the conditions set forth in Section 3.02, the Issuing Bank shall issue the requested Letter of Credit only in accordance with the Issuing Bank’s standard

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operating procedures. Upon the issuance of any European Letter of Credit or amendment or modification to a European Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent and each Lender with a European Revolving Commitment of such issuance, or amendment or modification and the amount of such Lender’s respective participation in such Letter of Credit pursuant to Section 2.04(e).
(c)    Responsibility of the Issuing Bank With Respect to Requests for Drawings and Payments. In determining whether to honor any drawing under any Letter of Credit by the beneficiary thereof, the applicable Issuing Bank shall be responsible only to examine the documents delivered under such Letter of Credit with reasonable care so as to ascertain whether they appear on their face to be in accordance with the terms and conditions of such Letter of Credit. As between the Borrowers and the applicable Issuing Bank, each Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by the applicable Issuing Bank by, the respective beneficiaries of such Letters of Credit. In furtherance and not in limitation of the foregoing, the Issuing Bank shall not be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for and issuance of any such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of any such Letter of Credit to comply fully with any conditions required in order to draw upon such Letter of Credit; (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such Letter of Credit or of the proceeds thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond the control of the Issuing Bank, including any Governmental Acts; none of the above shall affect or impair, or prevent the vesting of, any of the Issuing Bank’s rights or powers hereunder. Without limiting the foregoing and in furtherance thereof, no action taken or omitted by an Issuing Bank under or in connection with the Letters of Credit or any documents and certificates delivered thereunder, if taken or omitted in good faith and in the absence of gross negligence or willful misconduct (as determined by a final, non-appealable judgment of a court of competent jurisdiction), shall give rise to any liability on the part of such Issuing Bank to any Borrower; provided that the foregoing shall not be construed to excuse such Issuing Bank from liability to the Borrowers to the extent of any direct damages suffered by the Borrowers or any of their Subsidiaries that are determined by a final, non-appealable judgment of a court of competent jurisdiction to have been caused by such Issuing Bank’s gross negligence or willful misconduct.
(d)    Reimbursement by the Borrowers of Amounts Drawn or Paid Under Letters of Credit.
(i)    In the event an Issuing Bank has determined to honor a drawing under a U.S. Letter of Credit or Canadian Letter of Credit, it shall immediately notify the U.S. Borrower and the Administrative Agent, and the U.S. Borrower shall reimburse the applicable Issuing Bank on or before the Business Day immediately following the date on which such notice

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is received by the U.S. Borrower (the “Reimbursement Date”) in an amount in the Approved Currency in which such Letter of Credit was issued and in same day funds equal to the amount of such honored drawing; provided, that anything contained herein to the contrary notwithstanding, (x) unless the U.S. Borrower shall have notified the Administrative Agent and the applicable Issuing Bank prior to 10:00 a.m. (New York City time) on the Reimbursement Date that the U.S. Borrower intends to reimburse the applicable Issuing Bank for the amount of such honored drawing with funds other than the proceeds of Revolving Loans, the Borrower Representative shall be deemed to have given a timely Borrowing Notice to the Administrative Agent requesting (A) in the case of a U.S. Letter of Credit, Lenders with U.S. Revolving Commitments to make U.S. Revolving Loans that are Base Rate Loans on the Reimbursement Date in an amount in Dollars equal to the amount of such honored drawing and (B) in the case of a Canadian Letter of Credit, Lenders with Canadian Revolving Commitments to make Canadian Revolving Loans that are Canadian Prime Rate Loans or Base Rate Loans, as applicable, on the Reimbursement Date in an amount in Canadian Dollars or Dollars, as applicable, equal to the amount of such honored drawing (provided that, in respect of any honored drawing in an amount less than $250,000 (or the Canadian Dollar equivalent), the U.S. Borrower shall reimburse the applicable Issuing Bank for such amount in cash and shall not be entitled to reimburse such drawing in accordance with this clause (x)) and (y) subject to satisfaction or waiver of the conditions specified in Section 3.02, (A) Lenders with U.S. Revolving Commitments shall, on the Reimbursement Date for any U.S. Letter of Credit, make U.S. Revolving Loans that are Base Rate Loans in the amount of such honored drawing and (B) Lenders with Canadian Revolving Commitments shall, on the Reimbursement Date for any Canadian Letter of Credit, make Canadian Revolving Loans that are Canadian Prime Rate Loans or Base Rate Loans, as applicable, in an amount of such honored drawing, in each case, the proceeds of which shall be applied directly by the Administrative Agent to reimburse the applicable Issuing Bank for the amount of such honored drawing; provided, further, that if for any reason proceeds of Revolving Loans are not received by the applicable Issuing Bank on the Reimbursement Date in an amount equal to the amount of such honored drawing, the U.S. Borrower shall reimburse the Issuing Bank, on demand, in an amount in same day funds equal to the excess of the amount of such honored drawing over the aggregate amount of such Revolving Loans, if any, which are so received.
(ii)    In the event the Issuing Bank has determined to honor a drawing under a European Letter of Credit, it shall immediately notify the applicable Foreign Subsidiary, the European Borrower and the Administrative Agent, and the European Borrower shall reimburse the Issuing Bank on or before the Reimbursement Date in an amount in the Approved Currency in which such Letter of Credit was issued and in same day funds equal to the amount of such honored drawing; provided, that anything contained herein to the contrary notwithstanding, (i) unless the European Borrower shall have notified the Administrative Agent and the Issuing Bank prior to 10:00 a.m. (London, England time) on the Reimbursement Date that the European Borrower intends to reimburse the Issuing Bank for the amount of such honored drawing with funds other than the proceeds of Revolving Loans, the Borrower Representative shall be deemed to have given a timely

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Borrowing Notice to the Administrative Agent requesting Lenders with European Revolving Commitments to make European Revolving Loans that are Eurocurrency Rate Loans with an Interest Period of one month on the Reimbursement Date in an amount in the applicable Approved Currency equal to the amount of such honored drawing (provided that, in respect of any honored drawing in an amount less than €250,000, the European Borrower shall reimburse the applicable Issuing Bank for such amount in cash and shall not be entitled to reimburse such drawing in accordance with this clause (i)), and (ii) subject to satisfaction or waiver of the conditions specified in Section 3.02, Lenders with European Revolving Commitments shall, on the Reimbursement Date for any European Letter of Credit, make European Revolving Loans that are Eurocurrency Rate Loans with an Interest Period of one month in the amount of such honored drawing, the proceeds of which shall be applied directly by the Administrative Agent to reimburse the Issuing Bank for the amount of such honored drawing; provided, further, that if for any reason proceeds of European Revolving Loans are not received by the Issuing Bank on the Reimbursement Date in an amount equal to the amount of such honored drawing, the European Borrower shall reimburse the Issuing Bank, on demand, in an amount in same day funds equal to the excess of the amount of such honored drawing over the aggregate amount of such European Revolving Loans, if any, which are so received.
Nothing in this Section 2.04(d) shall be deemed to relieve any Lender with a Revolving Commitment from its obligation to make Revolving Loans on the terms and conditions set forth herein, and each Borrower shall retain any and all rights it may have against any such Lender resulting from the failure of such Lender to make such Revolving Loans under this Section 2.04(d).
(e)    Lenders’ Purchase of Participations in Letters of Credit. Immediately upon the issuance of each U.S. Letter of Credit, each Lender having a U.S. Revolving Commitment shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the applicable Issuing Bank a participation in such U.S. Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata Share (with respect to the U.S. Revolving Commitments) of the maximum amount which is or at any time may become available to be drawn thereunder. Immediately upon the issuance of each Canadian Letter of Credit, each Lender having a Canadian Revolving Commitment shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the applicable Issuing Bank a participation in such Canadian Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata Share (with respect to the Canadian Revolving Commitments) of the maximum amount which is or at any time may become available to be drawn thereunder. Immediately upon the issuance of each European Letter of Credit, each Lender having a European Revolving Commitment shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the applicable Issuing Bank a participation in such European Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata Share (with respect to the European Revolving Commitments) of the maximum amount which is or at any time may become available to be drawn thereunder. In the event that the applicable Borrower shall fail for any reason to reimburse the applicable Issuing Bank as provided in Section 2.04(d), such Issuing Bank shall promptly notify each Lender with an applicable Revolving Commitment of the unreimbursed amount of such honored drawing and of such Lender’s respective participation therein based on such Lender’s Pro Rata Share of the

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applicable Revolving Commitments. Each Lender with a U.S. Revolving Commitment shall make available to the applicable Issuing Bank an amount equal to its respective participation, in Dollars and in same day funds, at the office of the Issuing Bank specified in such notice, not later than 12:00 p.m. (New York City time) on the first Business Day (under the laws of the jurisdiction in which such office of the Issuing Bank is located) after the date notified by the Issuing Bank. Each Lender with a Canadian Revolving Commitment shall make available to the applicable Issuing Bank an amount equal to its respective participation, in Dollars or Canadian Dollars, as applicable, and in same day funds, at the office of the Issuing Bank specified in such notice, not later than 12:00 p.m. (New York City time) on the first Business Day (under the laws of the jurisdiction in which such office of the Issuing Bank is located) after the date notified by the Issuing Bank. Each Lender with a European Revolving Commitment shall make available to the applicable Issuing Bank an amount equal to its respective participation, in Euros or such Other Foreign Currency, as applicable, and in same day funds, at the office of the Issuing Bank specified in such notice, not later than 12:00 p.m. (London, England time) on the first Business Day (under the laws of the jurisdiction in which such office of the Issuing Bank is located) after the date notified by the Issuing Bank. In the event that any Lender with a U.S. Revolving Commitment, Canadian Revolving Commitment or European Revolving Commitment, as applicable, fails to make available to the applicable Issuing Bank on such Business Day the amount of such Lender’s participation in such Letter of Credit as provided in this Section 2.04(e), the applicable Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest thereon for three Business Days at the rate customarily used by the Issuing Bank for the correction of errors among banks and thereafter, in respect of U.S. Letters of Credit, at the Base Rate, in respect of Canadian Letters of Credit denominated in Canadian Dollars, at the Canadian Prime Rate, in respect of Canadian Letters of Credit denominated in Dollars, at the Base Rate, and in respect of European Letters of Credit, at the Eurocurrency Rate for an Interest Period of one month. In the event the applicable Issuing Bank shall have been reimbursed by other Lenders pursuant to this Section 2.04(e) for all or any portion of any drawing honored by the Issuing Bank under a Letter of Credit, the Issuing Bank shall distribute to each Lender which has paid all amounts payable by it under this Section 2.04(e) with respect to such honored drawing such Lender’s Pro Rata Share (with respect to the applicable Revolving Commitments) of all payments subsequently received by the applicable Issuing Bank from the applicable Borrower in reimbursement of such honored drawing when such payments are received. Any such distribution shall be made to a Lender at its primary address set forth below its name on Schedule 1.01(d) or at such other address as such Lender may request.
(f)    Obligations Absolute. The obligation of (i) the U.S. Borrower to reimburse each applicable Issuing Bank for drawings honored under the U.S. Letters of Credit or Canadian Letters of Credit issued by it and to repay any U.S. Revolving Loans or Canadian Revolving Loans made by Lenders pursuant to Section 2.04(d), (ii) the European Borrower to reimburse the Issuing Bank for drawings honored under the European Letters of Credit issued by it and to repay any European Revolving Loans made by Lenders pursuant to Section 2.04(d) and (iii) the Lenders under Section 2.04(e), in each case shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms hereof under all circumstances including any of the following circumstances: (i) any lack of validity or enforceability of any Letter of Credit; (ii) the existence of any claim, set‑off, defense or other right which any Borrower or any Lender may have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such transferee may be

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acting), Issuing Bank, Lender or any other Person or, in the case of a Lender, against any Borrower, whether in connection herewith, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between any Borrower or one of its Subsidiaries and the beneficiary for which any Letter of Credit was procured); (iii) any draft or other document presented under any Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) payment by the applicable Issuing Bank under any Letter of Credit against presentation of a draft or other document which does not substantially comply with the terms of such Letter of Credit; (v) any adverse change in the business, general affairs, assets, liabilities, operations, management, condition (financial or otherwise), stockholders’ equity, results of operations or value of any Loan Party; (vi) any breach hereof or any other Loan Document by any party thereto; (vii) the fact that an Event of Default or a Default shall have occurred and be continuing; or (viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing; provided that in each case payment by the Issuing Bank under the applicable Letter of Credit shall not have been determined by a final, non-appealable judgment of a court of competent jurisdiction to have constituted gross negligence, bad faith or willful misconduct of the Issuing Bank under the circumstances in question.
(g)    Indemnification. Without duplication of any obligation of the Borrowers under Section 10.02 or 10.03, in addition to amounts payable as provided herein, each Borrower hereby agrees to protect, indemnify, pay and save harmless the Issuing Bank from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable fees, expenses and disbursements of counsel) which any Issuing Bank may incur or be subject to as a consequence, direct or indirect, of (i) the issuance of any Letter of Credit by such Issuing Bank for the account of such Borrower, other than as a result of (1) the gross negligence, bad faith or willful misconduct of the Issuing Bank or (2) the dishonor by the Issuing Bank of a demand for payment made in compliance with the provisions hereunder or under the Letter of Credit, in each case, as determined by a final, non-appealable judgment of court of competent jurisdiction, or (ii) the failure of such Issuing Bank to honor a drawing under any such Letter of Credit as a result of any Governmental Act.
(h)    Resignation and Removal of Issuing Bank. An Issuing Bank may resign as Issuing Bank upon 60 days prior written notice to the Administrative Agent, the Lenders and the Borrower Representative. An Issuing Bank may be replaced at any time by written agreement among the Borrower Representative, the Administrative Agent, the replaced Issuing Bank (provided that no consent of the replaced Issuing Bank will be required if the replaced Issuing Bank has no Letters of Credit or reimbursement Obligations with respect thereto outstanding) and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of such Issuing Bank. At the time any such replacement or resignation shall become effective, the applicable Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank. From and after the effective date of any such replacement or resignation, (i) any successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement or resignation of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto to the extent that Letters of Credit

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issued by it remain outstanding and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement or resignation, but shall not be required to issue additional Letters of Credit or to renew existing Letters of Credit.
(i)    Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit.

Section 2.05    Pro Rata Shares; Availability of Funds; Affiliates.
(a)    Pro Rata Shares. Except with respect to Tranche A Term Loans and Tranche B Term Loans to be made on the Restatement Date pursuant to Section 2.01(a), which Loans shall bewere made by Lenders simultaneously and proportionately to their First Amendment Tranche A Term Loan Commitments and First Amendment Tranche B Term Loan Commitments, respectively, as of the Restatement as of the Restatement Date, respectively, and except with respect to the Second Amendment Incremental Tranche A Term Loans to be made on the Second Amendment Date pursuant to Section 2.01(a), which Loans shall be made by Lenders proportionately to their Second Amendment Tranche A Term Loan Commitments as of the Second Amendment Date, all Loans shall be made, and all participations purchased, by Lenders simultaneously and proportionately to their respective Pro Rata Shares of the applicable Class of Loans, it being understood that no Lender shall be responsible for any default by any other Lender in such other Lender’s obligation to make a Loan requested hereunder or purchase a participation required hereby nor shall any Term Loan Commitments or any Revolving Commitments of any Lender be increased or decreased as a result of a default by any other Lender in such other Lender’s obligation to make a Loan requested hereunder or purchase a participation required hereby.
(b)    Availability of Funds. Unless the Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date that such Lender does not intend to make available to the Administrative Agent the amount of such Lender’s Loan requested on such Credit Date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such Credit Date and the Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to the Borrowers a corresponding amount on such Credit Date. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Credit Date until the date such amount is paid to the Administrative Agent, at the customary rate set by the Administrative Agent for the correction of errors among banks for three Business Days and thereafter, if such Loan is in Dollars, at the Base Rate, if such Loan is in Canadian Dollars, at the Canadian Prime Rate, and if such Loan is in Euros or any Other Foreign Currency, at the rate certified by the Administrative Agent to be its cost of funds (from any source which it may reasonably select). If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower Representative and the applicable Borrower shall immediately pay such corresponding amount to the Administrative

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Agent together with interest thereon, for each day from such Credit Date until the date such amount is paid to the Administrative Agent at the Base Rate if such Loan is in Dollars, at the Canadian Prime Rate if such Loan is in Canadian Dollars, and at the rate certified by the Administrative Agent to be its cost of funds (from any source which it may reasonably select) if such Loan is in Euros or any Other Foreign Currency. Nothing in this Section 2.05(b) shall be deemed to relieve any Lender from its obligation to fulfill its Term Loan Commitments and Revolving Commitments hereunder or to prejudice any rights that the Borrowers may have against any Lender as a result of any default by such Lender hereunder.
(c)    Affiliates. Each Lender may, at its option, make any Loan available to the European Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan; provided that (i) any exercise of such option shall not affect the obligation of the European Borrower to repay such Loan in accordance with the terms of this Agreement and (ii) any Lender that exercises such option shall not be entitled to receive any greater payment under Section 2.19 or 2.20 than such Lender would have been entitled to receive had such option not been exercised.
Section 2.06    Use of Proceeds. The proceeds of the Loans on the Closing Date were applied by the U.S. Borrower, (a) together with proceeds from the issuance of the 2022 Notes and cash on hand, to finance the Closing Date Transactions and (b) for working capital or other general corporate purposes. The proceeds of the Revolving Loans, Swing Line Loans, Letters of Credit and any loans under any Ancillary Facility made after the Closing Date shall be applied by the applicable Borrower for working capital or other general corporate purposes of the U.S. Borrower or any of its Subsidiaries, including Permitted Acquisitions. The proceeds of the Term Loans borrowed on the Restatement Date shall bewere used to finance the Restatement Transactions. The proceeds of the Term Loans borrowed on the Second Amendment Date shall be used to prepay all Tranche B Term Loans outstanding immediately prior to the making of such Term Loans on the Second Amendment Date and to pay related fees, costs and expenses. The proceeds of the Incremental Term Loans shall be applied by the applicable Borrower for working capital or other general corporate purposes of the U.S. Borrower and its Subsidiaries, including Permitted Acquisitions. No portion of the proceeds of any Credit Extension shall be used in any manner that causes or might cause such Credit Extension or the application of such proceeds to violate Regulation T, Regulation U or Regulation X of the Board of Governors or any other regulation thereof or to violate the Exchange Act.
Section 2.07    Evidence of Debt; Register; Notes.
(a)    Lenders’ Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing the Obligations of each Borrower to such Lender, including the amounts of the Loans made by it and each repayment and prepayment in respect thereof.
(b)    Register. The Administrative Agent (or its agent or sub-agent appointed by it) acting for this purpose as an agent of the Borrowers shall maintain at its Principal Office a register for the recordation of the names and addresses of Lenders and the Revolving Commitment and Loans of each Lender from time to time (the “Register”). The Register shall be available for inspection by the Borrower Representative at any reasonable time and from time to time upon reasonable prior notice and upon request (which may not be made more than once per month) the Administrative Agent shall provide a copy of the information in the Register to the Borrower. The Administrative Agent shall record, or shall cause to be recorded, in the Register the Revolving Commitments and

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the Loans in accordance with the provisions of Section 10.06, and each repayment or prepayment in respect of the principal amount of the Loans, and any such recordation shall be conclusive and binding on each Borrower and each Lender, absent manifest error. Each Borrower hereby designates the Administrative Agent to serve as such Borrower’s agent solely for purposes of maintaining the Register as provided in this Section 2.07, and each Borrower hereby agrees that, to the extent the Administrative Agent serves in such capacity, the Administrative Agent and its officers, directors, employees, agents, sub-agents and Affiliates shall constitute “Indemnitees.”
(c)    Notes. If so requested by any Lender by written notice to the Borrower Representative (with a copy to the Administrative Agent) at least five Business Days prior to the RestatementSecond Amendment Date, or at any time thereafter, each applicable Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.06) on the RestatementSecond Amendment Date (or, if such notice is delivered after the RestatementSecond Amendment Date, promptly after such Borrower’s receipt of such notice) a Note or Notes to evidence such Lender’s Tranche A Term Loans, Tranche B Term Loans, Incremental Term Loans, Revolving Loans or Swing Line Loans, as the case may be.
Section 2.08    Interest on Loans.
(a)    Except as otherwise set forth herein, each Class of Loans shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:
(i)    in the case of Tranche A Term Loans and Revolving Loans (other than a European Revolving Loan):
(A)    if a Base Rate Loan, at the Base Rate plus the Applicable Margin;
(B)    if a Eurocurrency Rate Loan, at the Adjusted Eurocurrency Rate plus the Applicable Margin; or
(C)    if a Canadian Prime Rate Loan, at the Canadian Prime Rate plus the Applicable Margin;
(ii)    in the case of European Revolving Loans, at the Adjusted Eurocurrency Rate plus the Applicable Margin and plus Mandatory Costs, if any; and
(iii)    in the case of Swing Line Loans, at the Base Rate or the Canadian Prime Rate, as applicable, plus the Applicable Margin; and
(iv)    in the case of Tranche B Term Loans:
(A)    if a Base Rate Loan, at the Base Rate plus the Applicable Margin; or(B)    if a Eurocurrency Rate Loan, at the Adjusted Eurocurrency Rate plus the Applicable Margin.
(b)    The Type of Loan (except a Swing Line Loan, which can be made and maintained as a Base Rate Loan or Canadian Prime Rate Loan only), and the Interest Period with respect to any Eurocurrency Rate Loan shall be selected by the applicable Borrower and notified to the

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Administrative Agent and Lenders pursuant to the applicable Borrowing Notice or Conversion/Continuation Notice, as the case may be. If on any day a Loan is outstanding with respect to which a Borrowing Notice or Conversion/Continuation Notice has not been delivered to the Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan, if a Loan denominated in Dollars or Canadian Dollars, shall be a Base Rate Loan or a Canadian Prime Rate Loan, as applicable, and, if a Loan denominated in any other Approved Currency, shall be a Eurocurrency Rate Loan having an Interest Period of one month.
(c)    In connection with Eurocurrency Rate Loans there shall be no more than five Interest Periods outstanding at any time in respect of each of the Tranche A Term Loans and the Tranche B Term Loans, no more than 10 Interest Periods outstanding at any time in respect of the U.S. Revolving Loans, no more than five Interest Periods outstanding at any time in respect of the Canadian Revolving Loans, and no more than 10 Interest Periods outstanding at any time in respect of the European Revolving Loans. In the event the Borrower Representative fails to specify between a Base Rate Loan or a Eurocurrency Rate Loan in the applicable Borrowing Notice or Conversion/Continuation Notice for any Loan denominated in Dollars, such Loan (if outstanding as a Eurocurrency Rate Loan) shall be automatically converted into a Base Rate Loan on the last day of the then‑current Interest Period for such Loan (or if outstanding as a Base Rate Loan shall remain as, or (if not then outstanding) shall be made as, a Base Rate Loan). In the event the Borrower Representative fails to specify an Interest Period for any Eurocurrency Rate Loan in the applicable Borrowing Notice or Conversion/Continuation Notice, such Borrower shall be deemed to have selected an Interest Period of one month. The Interest Periods in effect immediately prior to the Restatement Date or Second Amendment Date, as applicable, shall remain in effect with respect to Loans outstanding immediately prior to the Restatement Date or Second Amendment Date, as applicable (or if new Interest Periods are entered into in connection with the Restatement Date or Second Amendment Date, as applicable, with respect to such Loans outstanding immediately prior to the Restatement Date or Second Amendment Date, as applicable, the end dates of such new Interest Periods shall be the same as the Interest Period end dates with respect to such Loans immediately prior to the Restatement Date or Second Amendment Date, as applicable). As soon as practicable after 10:00 a.m. (New York City time) or, with respect to Loans in respect of European Revolving Commitments, 10:00 a.m. (London, England time), on each Interest Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Eurocurrency Rate Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower Representative and each Lender. In the event that the Borrower Representative fails to specify between a Canadian Prime Rate Loan and a Eurocurrency Rate Loan in the applicable Borrowing Notice or Conversion/Continuation Notice for any Loan denominated in Canadian Dollars, such Loan (if outstanding as a Eurocurrency Rate Loan) shall be automatically converted into a Canadian Prime Rate Loan on the last day of the then‑current Interest Period for such Loan (or if outstanding as a Canadian Prime Rate Loan shall remain as, or (if not then outstanding) shall be made as, a Canadian Prime Rate Loan).
(d)    Interest payable pursuant to Section 2.08(a) shall be computed (i) in the case of Base Rate Loans and Canadian Prime Rate Loans on the basis of a 365‑day or 366‑day year, as the case

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may be and (ii) in the case of Eurocurrency Rate Loans, on the basis of a 360‑day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or, with respect to a Term Loan, the last Interest Payment Date with respect to such Term Loan or, with respect to a Base Rate Loan or Canadian Prime Rate Loan being converted from a Eurocurrency Rate Loan, the date of conversion of such Eurocurrency Rate Loan to such Base Rate Loan or Canadian Prime Rate Loan, as the case may be, shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan or Canadian Prime Rate Loan being converted to a Eurocurrency Rate Loan, the date of conversion of such Base Rate Loan or Canadian Prime Rate Loan to such Eurocurrency Rate Loan, as the case may be, shall be excluded; provided, that if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan.
(e)    Except as otherwise set forth herein, interest on each Loan shall accrue on a daily basis and shall be payable in arrears (i) on each Interest Payment Date with respect to interest accrued on and to each such payment date; (ii) upon any prepayment of such Loan, whether voluntary or mandatory, to the extent accrued on the amount being prepaid; provided, that with respect to any voluntary prepayment of a Base Rate Loan and a Canadian Prime Rate Loan, accrued interest shall instead be payable on the applicable Interest Payment Date and (iii) at maturity of such Loan, including final maturity of such Loan.
(f)    The applicable Borrower agrees to pay to the Issuing Bank, with respect to drawings honored under a Letter of Credit, interest on the amount paid by the Issuing Bank in respect of each such honored drawing from the date such drawing is honored to but excluding the date such amount is reimbursed by or on behalf of the applicable Borrower at a rate equal to (i) for the period from the date such drawing is honored to but excluding the applicable Reimbursement Date, the rate of interest otherwise payable hereunder with respect to Revolving Loans that are Base Rate Loans (or if such Letter of Credit is denominated in Canadian Dollars, the Canadian Prime Rate) or, with respect to Letters of Credit denominated in a currency other than Dollars or Canadian Dollars, Eurocurrency Rate Loans with an Interest Period of one month, and (ii) thereafter, a rate which is 2.00% per annum in excess of the rate of interest otherwise payable hereunder with respect to such Revolving Loans.
(g)    Interest payable pursuant to Section 2.08(f) shall be computed on the basis of a 365/366‑day year for the actual number of days elapsed in the period during which it accrues, and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full. Promptly upon receipt by the Issuing Bank of any payment of interest pursuant to Section 2.08(f), the Issuing Bank shall distribute to each Lender, out of the interest received by the Issuing Bank in respect of the period from the date such drawing is honored to but excluding the date on which the Issuing Bank is reimbursed for the amount of such drawing (including any such reimbursement out of the proceeds of any Revolving Loans), the amount that such Lender would have been entitled to receive in respect of the letter of credit fee that would have been payable in respect of such Letter of Credit for such period if no drawing had been honored under such Letter of Credit. In the event the Issuing Bank shall have been reimbursed by Lenders for all or any portion of such honored drawing, the Issuing Bank shall distribute to each Lender which has paid all amounts payable by it under Section 2.04(e) with respect to such honored drawing such Lender’s Pro Rata Share of any interest received by the Issuing Bank in respect of

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that portion of such honored drawing so reimbursed by Lenders for the period from the date on which the Issuing Bank was so reimbursed by Lenders to but excluding the date on which such portion of such honored drawing is reimbursed by the applicable Borrower.
(h)    The rate and time of payment of interest in respect of any Ancillary Facility shall be determined by agreement between the relevant Ancillary Lender and the Borrower under such Ancillary Facility based on normal market rates and terms.
(i)    For purposes of disclosure pursuant to the Interest Act (Canada), (i) whenever any interest under this Agreement is calculated using a rate based on a year of 360 days or 365 days, as the case may be, the rate determined pursuant to such calculation, when expressed as an annual rate, is equivalent to (x) the applicable rate based on a year of 360 days or 365 days, as the case may be, (y) multiplied by the actual number of days in the calendar year in which the period for which such interest or fee is payable (or compounded) ends, and (z) divided by 360 or 365, as the case may be, (ii) the principle of deemed reinvestment of interest does not apply to any interest calculation under this Agreement, and (iii) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.
Section 2.09    Conversion/Continuation.
(a)    Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrowers shall have the option:
(i)    to convert at any time all or any part of any Term Loan or Revolving Loan denominated in Dollars or Canadian Dollars equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurocurrency Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurocurrency Rate Loan unless the U.S. Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii)    upon the expiration of any Interest Period applicable to any Eurocurrency Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a Eurocurrency Rate Loan;
provided that, for the avoidance of doubt, no conversion or continuation of any Loan pursuant to this Section 2.09 shall affect the currency in which such Loan is denominated prior to any such conversion or continuation and each such Loan shall remain outstanding denominated in the currency originally issued.
(b)    The Borrower Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) or, with respect to Loans in respect of European Revolving Commitments, 10:00 a.m. (London, England time), at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan or Canadian Prime Rate Loan) and at least three Business Days in advance of the proposed Conversion/Continuation Date (in the case of a conversion to, or a continuation of, a Eurocurrency Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurocurrency Rate Loans, shall be irrevocable on and after the related Interest Rate Determination Date, and each Borrower shall be bound to effect a conversion or continuation in accordance therewith.

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Section 2.10    Default Interest. Upon the occurrence and during the continuance of an Event of Default under Section 8.01(a), 8.01(c) (in the case of a failure to perform or comply with any term or condition contained in Section 6.07(a) or 6.07(b)), 8.01 (f), 8.01 (g) or 8.01 (h) and, at the request of the Required Lenders, any other Event of Default, the principal amount of all Loans outstanding and, to the extent permitted by applicable law, any interest payments on the Loans or any fees or other amounts owed hereunder, shall thereafter bear interest (including post‑petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws) payable on demand at a rate (the “Default Rate”) that is 2.00% per annum in excess of the interest rate otherwise payable hereunder with respect to the applicable Loans (or, in the case of any such fees and other amounts, at a rate which is 2.00% per annum in excess of the interest rate otherwise payable hereunder for Base Rate Loans that are Revolving Loans); provided, that in the case of Eurocurrency Rate Loans denominated in Dollars and Canadian Dollars, upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective such Eurocurrency Rate Loans shall thereupon become Base Rate Loans or Canadian Prime Rate Loans, as applicable, and shall thereafter bear interest payable upon demand at a rate which is 2.00% per annum in excess of the interest rate otherwise payable hereunder for Base Rate Loans. Payment or acceptance of the increased rates of interest provided for in this Section 2.10 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the Administrative Agent or any Lender.
Section 2.11    Fees.
(a)    The U.S. Borrower agrees to pay to Lenders (other than Defaulting Lenders) having U.S. Revolving Exposure and Canadian Revolving Exposure, as applicable:
(i)    commitment fees equal to (1) the average of the daily difference between (a) the U.S. Revolving Commitments and (b) the aggregate principal amount of (x) all outstanding U.S. Revolving Loans plus (y) the U.S. Letter of Credit Usage, times (2) the Applicable Revolving Commitment Fee Percentage;
(ii)    commitment fees equal to (1) the average of the daily difference between (a) the Canadian Revolving Commitments and (b) the Dollar Equivalent of the aggregate principal amount of (x) all outstanding Canadian Revolving Loans plus (y) the Canadian Letter of Credit Usage, times (2) the Applicable Revolving Commitment Fee Percentage;
(iii)    letter of credit fees equal to (1) the Applicable Margin for U.S. Revolving Loans that are Eurocurrency Rate Loans, times (2) the average aggregate daily maximum amount available to be drawn under all such U.S. Letters of Credit (regardless of whether any conditions for drawing could then be met and determined as of the close of business on any date of determination); and
(iv)    letter of credit fees equal to (1) the Applicable Margin for Canadian Revolving Loans that are Eurocurrency Rate Loans, times (2) the Dollar Equivalent of the average aggregate daily maximum amount available to be drawn under all such Canadian Letters of Credit (regardless of whether any conditions for drawing could then be met and determined as of the close of business on any date of determination).

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All fees referred to in this Section 2.11(a) shall be paid in Dollars to the Administrative Agent at its Principal Office and upon receipt, the Administrative Agent shall promptly distribute to each Lender that has Revolving Exposure its Pro Rata Share thereof.
(b)    The European Borrower agrees to pay to Lenders (other than Defaulting Lenders) having European Revolving Exposure:
(i)    commitment fees equal to (1) the average of the daily difference between (a) the European Revolving Commitments and (b) the Euro Equivalent of the aggregate principal amount of (x) all outstanding European Revolving Loans plus (y) the European Letter of Credit Usage, times (2) the Applicable Revolving Commitment Fee Percentage; and
(ii)    letter of credit fees equal to (1) the Applicable Margin for European Revolving Loans, times (2) the Euro Equivalent of the average aggregate daily maximum amount available to be drawn under all such European Letters of Credit (regardless of whether any conditions for drawing could then be met and determined as of the close of business on any date of determination).
All fees referred to in this Section 2.11(b) shall be paid in Euros to the Administrative Agent at its applicable Principal Office and upon receipt, the Administrative Agent shall promptly distribute to each Lender that has Revolving Exposure its Pro Rata Share thereof.
(c)    Letter of Credit Fronting Fees.
(i)    The U.S. Borrower agrees to pay directly to the applicable Issuing Bank, for its own account, with respect to any standby U.S. Letters of Credit and standby Canadian Letters of Credit a fronting fee in Dollars equal to 0.125% per annum (or such lesser amount as may be agreed to by the Borrower Representative and the applicable Issuing Bank), times the average aggregate daily maximum amount available to be drawn under all such U.S. Letters of Credit and Canadian Letters of Credit (determined as of the close of business on any date of determination).
(ii)    The European Borrower agrees to pay directly to the applicable Issuing Bank, for its own account, with respect to any standby European Letters of Credit a fronting fee in Euros equal to 0.125% per annum (or such lesser amount as may be agreed to by the Borrower Representative and the applicable Issuing Bank), times the average aggregate daily maximum amount available to be drawn under all such European Letters of Credit (determined as of the close of business on any date of determination).
(iii)    The applicable Borrower agrees to pay fees to be agreed with the applicable Issuing Bank in respect of all commercial Letters of Credit.
(iv)    The applicable Borrower agrees to pay such documentary and processing charges for any issuance, amendment, transfer or payment of a Letter of Credit as are in accordance with the applicable Issuing Bank’s standard schedule for such charges and as in effect at the time of such issuance, amendment, transfer or payment, as the case may be.

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(d)    All fees referred to in Sections 2.11(a), 2.11(b), 2.11(c)(i) and 2.11(c)(ii) shall be calculated on the basis of a 360‑day year and the actual number of days elapsed and shall be payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year during the applicable Revolving Commitment Period, commencing on the first such date to occur after the Closing Date, and on the applicable Revolving Commitment Termination Date.
(e)    In addition to any of the foregoing fees, the Borrowers agree to pay to Agents such other fees (such as administrative agency fees) in the amounts and at the times separately agreed upon. The rate and timing of fees in respect of any Ancillary Facility shall be determined by agreement between the relevant Ancillary Lender and the Borrower under such Ancillary Facility based on normal market rates and terms. Certain fees separately agreed, if any, shall be payable to the Lenders on the Closing Date as fee compensation for the funding of such Lender’s Loans or availability of such Lender’s unfunded Revolving Commitment. Such closing fees, if any, shall be in all respect earned, due and payable on the Closing Date and non-refundable and non-creditable thereafter.
Section 2.12    Scheduled Payments.
(a)    (i) The principal amounts of the Tranche A Term Loans shall be repaid in consecutive quarterly installments (each, an “Installment”) in the aggregate amounts set forth below on the dates set forth below (each, an “Installment Date”), commencing on June 30, 20142016:
Installment Date
Tranche A Term Loan Installments
June 30, 2014
$24,828,125
September 30, 2014
$24,828,125
December 31, 2014
$24,828,125
March 31, 2015
$24,828,125
June 30, 2015
$24,828,125
September 30, 2015
$24,828,125
December 31, 2015
$24,828,125
March 31, 2016
$24,828,125
June 30, 2016
$ 37,242,187.5029,342,250.00
September 30, 2016
$ 37,242,187.5029,342,250.00
December 31, 2016
$ 37,242,187.5029,342,250.00
March 31, 2017
$ 37,242,187.5029,342,250.00
June 30, 2017
$ 49,656,25029,342,250.00
September 30, 2017
$ 49,656,25029,342,250.00
December 31, 2017
$ 49,656,25029,342,250.00
 

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Installment Date
Tranche A Term Loan Installments
March 31, 2018
$ 49,656,25029,342,250.00
June 30, 2018
$ 49,656,25044,013,375.00
September 30, 2018
$ 49,656,25044,013,375.00
December 31, 2018
$ 49,656,25044,013,375.00
March 31, 2019
$44,013,375.00
June 30, 2019
$58,684,500.00
September 30, 2019
$58,684,500.00
December 31, 2019
$58,684,500.00
March 31, 2020
$58,684,500.00
June 30, 2020
$58,684,500.00
September 30, 2020
$58,684,500.00
December 31, 2020
$58,684,500.00
March 31, 2021
$58,684,500.00
Tranche A Term Loan Maturity Date
Remainder


(b)    The principal amount of the Tranche B Term Loans outstanding on the Tranche B Term Loan Maturity Date shall be repaid on such date, it being understood and agreed that, as of the Restatement Date, the U.S. Borrower has, through voluntary and mandatory prepayments of the Tranche B Term Loans under the Original Credit Agreement prior to the Restatement Date, applied as provided for in Section 2.15, reduced the Installments set forth in the Original Credit Agreement such that the only remaining Installment is the outstanding principal amount of the Tranche B Term Loans as of the Tranche B Term Loan Maturity Date.[Reserved].
(c)    Notwithstanding the foregoing, (x) such Installments shall be reduced in connection with any voluntary or mandatory prepayments of the Tranche A Term Loans in accordance with Section 2.15; and (y) the Tranche A Term Loans and the Tranche B Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the Tranche A Term Loan Maturity Date and the Tranche B Term Loan Maturity Date, respectively.
Section 2.13    Voluntary Prepayments/Commitment Reductions.
(a)    Voluntary Prepayments.
(i)    Any time and from time to time (1) with respect to Base Rate Loans or Canadian Prime Rate Loans, the U.S. Borrower may prepay any such Loans on any Business Day in whole or in part, in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount; (2) with respect to Eurocurrency Rate Loans, the applicable Borrower may prepay any such Loans on any Business Day in whole or in part in an aggregate minimum amount of, with respect to Loans denominated in Dollars or Canadian Dollars and U.S. Revolving Loans or Canadian Revolving Loans, $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and, with respect

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to Loans denominated in Euros and all European Revolving Loans, €5,000,000 and integral multiples of €1,000,000 in excess of that amount; and (3) with respect to Swing Line Loans, the U.S. Borrower may prepay any such Loans on any Business Day in whole or in part in an aggregate minimum amount of $500,000, and in integral multiples of $100,000 in excess of that amount, in each case, without premium or penalty except as described in the immediately following sentence. In connection with any Repricing Event that is consummated in respect of all or any portion of the Tranche B Term Loans on or prior to the six-month anniversary of the Restatement Date, the U.S. Borrower shall pay to the Administrative Agent, for the ratable benefit of the Term Lenders having Tranche B Term Loan Exposure, a fee equal to 1.00% of the aggregate principal amount of the Tranche B Term Loans subject to such Repricing Event (provided, that any prepayment of any Tranche B Term Loans made in connection with a Change of Control shall not require the payment of the 1.00% fee otherwise required by this sentence).
(ii)    All such prepayments shall be made (1) upon not less than one Business Day’s prior written notice in the case of Base Rate Loans or Canadian Prime Rate Loans; (2) upon not less than three Business Days’ prior written notice in the case of Eurocurrency Rate Loans and (3) upon written notice on the date of prepayment, in the case of Swing Line Loans;
in each case given to the Administrative Agent or applicable Swing Line Lender, as the case may be, by 12:00 p.m. (New York City time) (or, with respect to repayments of European Revolving Loans, 12:00 p.m. (London, England time)) on the date required (and the Administrative Agent or such Swing Line Lender, as the case may be, shall promptly transmit such original notice by telefacsimile or telephone to each Lender). Upon the giving of any such notice, the principal amount of the Loans specified in such notice shall become due and payable on the prepayment date specified therein; provided that such a notice may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Representative if such condition is not satisfied. Any such voluntary prepayment shall be applied as specified in Section 2.15(a).
(b)    Voluntary Commitment Reductions.
(i)    The Borrower Representative may, upon not less than three Business Days’ prior written notice to the Administrative Agent (which written notice the Administrative Agent shall promptly transmit by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the U.S. Revolving Commitments, the Canadian Revolving Commitments and/or the European Revolving Commitments in an amount up to the amount by which (x) the U.S. Revolving Commitments exceed the Total Utilization of U.S. Revolving Commitments, (y) the Canadian Revolving Commitments exceed the Total Utilization of Canadian Revolving Commitments or (z) the European Revolving Commitments exceed the Total Utilization of European Revolving Commitments, as applicable, at the time of such proposed termination or reduction; provided, that any such

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partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of, with respect to U.S. Revolving Commitments and Canadian Revolving Commitments, $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and, with respect to European Revolving Commitments, €5,000,000 and integral multiples of €1,000,000 in excess of that amount.
(ii)    The Borrower Representative’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the Borrower Representative’s notice and shall reduce the applicable Revolving Commitments of each Lender proportionately to its Pro Rata Share thereof; provided that such a notice may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Representative if such condition is not satisfied. Notwithstanding anything to the contrary contained in this Section 2.13(b)(ii) or any other provision of this Agreement, the Borrower Representative may reduce the Revolving Commitment of any Defaulting Lender to an amount not less than the applicable Revolving Exposure of such Defaulting Lender with respect to such Revolving Commitment (it being understood that for purposes of determining such Defaulting Lender’s Revolving Exposure pursuant to this sentence, such Defaulting Lender’s Revolving Commitments shall be deemed to be terminated), such reduction to be subject to the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed).
(c)    Below-Par Purchases. Notwithstanding anything to the contrary contained in this Section 2.13 or any other provision of this Agreement and without otherwise limiting the rights in respect of prepayments of the Loans of the U.S. Borrower and its Subsidiaries, so long as no Default or Event of Default has occurred and is continuing, the U.S. Borrower may repurchase outstanding Term Loans pursuant to this Section 2.13(c) on the following basis:
(i)    The U.S. Borrower may make one or more offers (each, an “Offer”) to repurchase all or any portion of the Tranche A Term Loans and/or Tranche B Term Loans (such Term Loans, the “Offer Loans”); provided that, (A) the U.S. Borrower delivers notice of its intent to make such Offer to the Administrative Agent at least five Business Days in advance of the launch of any proposed Offer, (B) upon the launch of such proposed Offer, the U.S. Borrower delivers an irrevocable notice of such Offer to all applicable Term Lenders (with a copy to the Administrative Agent) indicating (1) the last date on which such Offer may be accepted, (2) the maximum Dollar amount of such Offer, and (3) the repurchase price per Dollar of principal amount of such Offer Loans at which the U.S. Borrower is willing to repurchase such Offer Loans (which price shall be below par), (C) the maximum Dollar amount of each Offer shall be an amount reasonably determined by the U.S. Borrower in consultation with the Administrative Agent prior to the making of any such Offer; (D) the U.S. Borrower shall hold such Offer open for a minimum period of days to be reasonably determined by the Administrative Agent and the U.S. Borrower prior to the making of any such Offer; (E) a Term Lender who elects to participate in the

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Offer may choose to sell all or part of such Term Lender’s Offer Loans; (F) such Offer shall be made to all Term Lenders holding the Offer Loans on a pro rata basis in accordance with the respective principal amount then due and owing to the Term Lenders; provided, further that, if any Term Lender elects not to participate in the Offer, either in whole or in part, the amount of such Term Lender’s Offer Loans not being tendered shall be excluded in calculating the pro rata amount applicable to the balance of such Offer Loans and (G) such Offer shall be conducted pursuant to such procedures the Administrative Agent may establish in consultation with the U.S. Borrower (which shall be consistent with this Section 2.13(c)) and that a Lender must follow in order to have its Offer Loans repurchased, which procedures may include a requirement that that the U.S. Borrower represent and warrant that it does not have any material non-public information with respect to any Loan Party (or its Subsidiaries) that could be material to a Lender’s decision to participate in such Offer;
(ii)    With respect to all repurchases made by the U.S. Borrower, such repurchases shall be deemed to be voluntary prepayments pursuant to this Section 2.13 in an amount equal to the aggregate principal amount of such Term Loans; provided that such repurchases shall not be subject to the provisions of Section 2.13(a), 2.13(b) or 2.17;
(iii)    Upon the purchase by the U.S. Borrower of any Term Loans, (A) automatically and without the necessity of any notice or any other action, all principal and accrued and unpaid interest on the Term Loans so repurchased shall be deemed to have been paid for all purposes and shall be cancelled and no longer outstanding for all purposes of this Agreement and all other Loan Documents (and in connection with any Term Loan purchased pursuant to this Section 2.13(c), the Administrative Agent is authorized to make appropriate entries in the Register to reflect such cancellation) and (B) the U.S. Borrower will promptly advise the Administrative Agent of the total amount of Offer Loans that were repurchased from each Lender who elected to participate in the Offer;
(iv)    Failure by the U.S. Borrower to make any payment to a Lender required by an agreement permitted by this Section 2.13(c) shall not constitute an Event of Default under Section 8.01(a);
(v)    No proceeds of any Revolving Loans may be used to purchase any Offer Loans, and all amounts used to purchase Offer Loans shall be deemed to be a use of the Available Amount; and
(vi)    The amount of such repurchases (based on the face value of the Term Loans purchased thereby) shall be applied on a pro rata basis to reduce the remaining Installments on the applicable Class of Term Loans pursuant to Section 2.12.
Section 2.14    Mandatory Prepayments/Commitment Reductions.
(a)    Asset Sales. No later than 10 Business Days following the date of receipt by any Group Member of any Net Cash Proceeds in respect of any Asset Sale pursuant to Section 6.08(d), 6.08(j)(ii) or 6.08(k), the Term Loans shall be repaid as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default

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shall have occurred and be continuing, the Borrower Representative shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries, to invest or commit in writing to invest such Net Cash Proceeds within 365 days of receipt thereof in assets useful in the business of one or more Group Members, which investment may include the repair, restoration or replacement of the applicable assets thereof or Permitted Acquisitions to the extent such investments are otherwise permitted under this Agreement; provided, further, that in the event such Net Cash Proceeds are committed in writing to be invested prior to such 365th day, the Borrower Representative shall have the option to invest such Net Cash Proceeds within 180 days after the expiration of such initial 365-day period. Notwithstanding the foregoing, no Group Member shall be required to repay the Term Loans with any such Net Cash Proceeds to the extent the repatriation of such Net Cash Proceeds to fund such repayments would, in the good faith judgment of the U.S. Borrower, result in material adverse tax consequences to the U.S. Borrower or any of its Subsidiaries or conflict with applicable law; provided that, in any event, the U.S. Borrower shall use commercially reasonable efforts to eliminate such tax effects in order to make such prepayments.
(b)    Insurance/Condemnation Proceeds. No later than 10 Business Days following the date of receipt by any Group Member, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the Term Loans shall be repaid as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing, the Borrower Representative shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest or commit in writing to invest such Net Cash Proceeds within 365 days of receipt thereof in assets useful in the business of one or more Group Member, which Investment may include the repair, restoration or replacement of the applicable assets thereof or Permitted Acquisitions; provided, further, that in the event such Net Cash Proceeds are committed in writing to be invested prior to such 365th day, the Borrower Representative shall have the option to invest such Net Cash Proceeds within 180 days after the expiration of such initial 365-day period. Notwithstanding the foregoing, no Group Member shall be required to repay the Term Loans with any such Net Cash Proceeds to the extent the repatriation of such Net Cash Proceeds to fund such repayments would, in the good faith judgment of the U.S. Borrower, result in material adverse tax consequences to the U.S. Borrower or any of its Subsidiaries or conflict with applicable law; provided that, in any event, the U.S. Borrower shall use commercially reasonable efforts to eliminate such tax effects in order to make such prepayments.
(c)    Issuance or Incurrence of Debt. No later than one Business Day following the date of receipt by any Group Member of any Net Cash Proceeds from the issuance or incurrence of any Indebtedness of any Group Member (other than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.01, but including Indebtedness permitted to be incurred pursuant to Sections 6.01(n)(i) and 6.01(n)(ii), the Net Cash Proceeds of which are required to prepay Term Loans, which Net Cash Proceeds shall be applied not later than five Business Days after receipt to the extent necessary to allow the Borrowers to comply with Section 2.15(d)), the Term Loans shall be prepaid by the U.S. Borrower as set forth in Section 2.15(b) in an aggregate amount equal to 100.0% of such Net Cash Proceeds.

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(d)    Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with the Fiscal Year ending February 1, 2015), no later than 95 days after the end of such Fiscal Year, the Term Loans shall be prepaid by the U.S. Borrower as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary repayments of the Term Loans in such Fiscal Year pursuant to Section 2.13(a) and voluntary repayments of Revolving Loans or Swing Line Loans in such Fiscal Year to the extent the Revolving Commitments are permanently reduced in connection with such repayments; provided, that if, as of the last day of the most recently ended Fiscal Year, the Net Leverage Ratio (determined for any such period by reference to the Compliance Certificate delivered pursuant to Section 5.01(c) calculating the Net Leverage Ratio as of the last day of such Fiscal Year) shall be (x) less than 2.753.00:1.00 but greater than or equal to 2.252.50:1.00, the U.S. Borrower shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (i) 25% of such Consolidated Excess Cash Flow minus (ii) voluntary repayments of the Term Loans in such Fiscal Year pursuant to Section 2.13(a) and voluntary repayments of Revolving Loans or Swing Line Loans in such Fiscal Year to the extent the Revolving Commitments are permanently reduced in connection with such repayments or (y) less than 2.252.50:1.00, no such payment shall be required.
(e)    Revolving Loans, Swing Line Loans and Letters of Credit. The applicable Borrower shall from time to time (i) prepay first, the Swing Line Loans, and second, the Revolving Loans and (ii) if all such Loans are prepaid without exhausting the excess referred to below, Cash Collateralize outstanding Letters of Credit, in each case, to the extent necessary so that (x) the Total Utilization of U.S. Revolving Commitments shall not at any time exceed the U.S. Revolving Commitments then in effect, (y) the Total Utilization of Canadian Revolving Commitments shall not at any time exceed the Canadian Revolving Commitments then in effect and (z) the Total Utilization of European Revolving Commitments shall not at any time exceed the European Revolving Commitments then in effect. Notwithstanding the foregoing, mandatory prepayments of Swing Line Loans and Revolving Loans and Cash Collateralization of Letters of Credit that would otherwise be required pursuant to this Section 2.14(e) solely as a result of fluctuations in Exchange Rates from time to time shall only be required to be made on the last Business Day of each month on the basis of the Exchange Rate in effect on such Business Day.
(f)    Prepayment Certificate. Concurrently with any prepayment of the Term Loans pursuant to Sections 2.14(a) through 2.14(d), the Borrower Representative shall deliver to the Administrative Agent a certificate of an Authorized Officer demonstrating the calculation of the amount of the applicable Net Cash Proceeds or Consolidated Excess Cash Flow, as the case may be. In the event that the Borrower Representative shall subsequently determine that the actual amount received exceeded the amount set forth in such certificate, the U.S. Borrower shall promptly make an additional prepayment of the Term Loans in an amount equal to such excess, and the Borrower Representative shall concurrently therewith deliver to the Administrative Agent a certificate of an Authorized Officer describing such excess.
Section 2.15    Application of Prepayments/Reductions; Application of Proceeds of Collateral.
(a)    Application of Voluntary Prepayments by Type of Loans. Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied to the Loans and Installments, if applicable, as

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specified by the applicable Borrower in the applicable notice of prepayment (and shall not be required to be applied pro rata to all Loans or Installments); provided, further, that in the event the applicable Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:
first, to repay outstanding Swing Line Loans on a pro rata basis until paid in full;
second, to repay outstanding Revolving Loans on a pro rata basis until paid in full; and
third, to prepay the Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof, which prepayments shall be applied to the scheduled Installments of principal in accordance with Section 2.15(c));
in each case, for the avoidance of doubt, allocated on a pro rata basis among the applicable U.S. Loans, Canadian Revolving Loans and European Revolving Loans.
(b)    Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(d) shall be applied to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof, which prepayments shall be applied to the scheduled Installments of principal in accordance with Section 2.15(c)).
(c)    Application to Installments. Any prepayment of the Tranche A Term Loans pursuant to Sections 2.14(a) through 2.14(d), as applicable, shall be applied to reduce in direct order of maturity the next four scheduled Installments of the Tranche A Term Loans due and thereafter shall be applied on a pro rata basis to reduce the scheduled remaining Installments of the Tranche A Term Loans. Any prepayment of the Tranche B Term Loans pursuant to Sections 2.14(a) through 2.14(d), as applicable, shall be applied to reduce in direct order of maturity the next four scheduled Installments of the Tranche B Term Loans due and thereafter shall be applied on a pro rata basis to reduce the scheduled remaining Installments of the Tranche B Term Loans (it being understood and agreed that, as of the Restatement Date, the U.S. Borrower has, through voluntary and mandatory prepayments of the Tranche B Term Loans under the Original Credit Agreement prior to the Restatement Date, applied as provided for in Section 2.15, reduced the Installments set forth in the Original Credit Agreement such that the only remaining Installment is the outstanding principal amount of the Tranche B Term Loans as of the Tranche B Term Loan Maturity Date).
(d)    Waivable Mandatory Prepayment. Anything contained herein to the contrary notwithstanding, so long as any Tranche A Term Loans are outstanding, in the event the Borrower Representative is required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”) of the Tranche B Term Loans pursuant to Section 2.14