<SEC-DOCUMENT>0001041061-17-000020.txt : 20170323
<SEC-HEADER>0001041061-17-000020.hdr.sgml : 20170323
<ACCEPTANCE-DATETIME>20170323161047
ACCESSION NUMBER:		0001041061-17-000020
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170321
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170323
DATE AS OF CHANGE:		20170323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			YUM BRANDS INC
		CENTRAL INDEX KEY:			0001041061
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133951308
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13163
		FILM NUMBER:		17709861

	BUSINESS ADDRESS:	
		STREET 1:		1441 GARDINER LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213
		BUSINESS PHONE:		5028748300

	MAIL ADDRESS:	
		STREET 1:		1900 COLONEL SANDERS LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRICON GLOBAL RESTAURANTS INC
		DATE OF NAME CHANGE:	19970627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT AMERICAN RESTAURANT CO
		DATE OF NAME CHANGE:	19970618
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k03222017.htm
<DESCRIPTION>YUM BRANDS, INC. FORM 8-K
<TEXT>
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<div><a name="s5c53a955b5e84756ad9106563f3df564"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:18pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:100%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">UNITED STATES</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Washington, D. C. 20549</font></div></td></tr></table></div></div><div style="line-height:174%;padding-top:5px;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;">___________</font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CURRENT REPORT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Date of Report (Date of earliest event reported)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">March 21, 2017</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Commission file number 1-13163</font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;">________________________</font></div><div style="line-height:174%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">YUM! BRANDS, INC.</font></div><div style="line-height:174%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:9%;"></td><td style="width:47%;"></td><td style="width:13%;"></td><td style="width:31%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">North Carolina</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">13-3951308</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(State or other jurisdiction of</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(I.R.S. Employer</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">incorporation or organization)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Identification No.)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1441 Gardiner Lane, Louisville, Kentucky</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">40213</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Address of principal executive offices)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Zip Code)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="4" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Registrant's telephone number, including area code:&#160;&#160;(502) 874-8300</font></div></td></tr><tr><td colspan="4" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="4" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Former name or former address, if changed since last report:     N/A</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:100%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item 1.01</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Entry into a Material Definitive Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On March 21, 2017, Pizza Hut Holdings, LLC, KFC Holding Co. and Taco Bell of America, LLC (collectively, the &#8220;Borrowers&#8221;), each a wholly owned subsidiary of YUM! Brands, Inc. (&#8220;YUM&#8221; or the &#8220;Company&#8221;), entered into a Refinancing Amendment (the &#8220;Amendment&#8221;) to the Credit Agreement, dated as of June 16, 2016 (the &#8220;Credit Agreement&#8221;), among the Borrowers, JPMorgan Chase Bank, N.A., as Collateral Agent and Administrative Agent, and the Lenders from time to time party thereto, pursuant to which the Company repriced its existing approximately $2.0 billion Term Loan B facility (the &#8220;Term B Loan&#8221;). The Amendment reduces the interest rate applicable to the Term B Loan by 0.75% to adjusted LIBOR plus 2.00%, with a rate stepdown to LIBOR plus 1.75% in the event the Secured Leverage Ratio is less than 1 to 1. The maturity date for the Term B Loan remains June 16, 2023, and all other material provisions of the Credit Agreement remain unchanged.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The description of the Amendment set forth above is a summary only, is not complete and is qualified in its entirety by reference to the full and complete terms contained in the Amendment, a copy of which is attached as Exhibit&#160;10.1 to this Current Report on Form 8-K and is incorporated herein by reference.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item 8.01</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Other Events.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On March&#160;21, 2017, the Company issued a press release announcing entry into the Amendment. A copy of the press release is attached hereto as Exhibit&#160;99.1 and is incorporated herein by reference.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Item 9.01</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Financial Statements and Exhibits.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New 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style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">10.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Refinancing Amendment, dated as of March 21, 2017, to Credit Agreement dated as of June 16, 2016 among Pizza Hut Holdings, LLC, KFC Holding Co. and Taco Bell of America, LLC, as borrowers, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent for the Lenders.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">99.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Press Release dated March 21, 2017 regarding the Amendment</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SIGNATURE</font></div><div style="line-height:174%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:11pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:9px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" 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BRANDS, INC.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Registrant)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:174%;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:9px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:87.3046875%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:8%;"></td><td style="width:24%;"></td><td style="width:19%;"></td><td style="width:46%;"></td><td style="width:3%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">March 23, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">/s/ William L. Gathof</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">William L. Gathof</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Vice President and Treasurer</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>form8kexhibit101032317.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="s87057566A20003E9BD55FC5E298B8199"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">EXECUTION VERSION</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">REFINANCING AMENDMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Refinancing Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of March 21, 2017, to that certain Credit Agreement dated as of June 16, 2016 (as further amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;; the Existing Credit Agreement as amended by the Refinancing Amendment, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) among KFC Holding Co. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lead Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Pizza Hut Holdings, LLC and Taco Bell of America, LLC, as co-Borrowers (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221; and together with the Lead Borrower, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Borrowers</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for the Lenders.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to Section 2.14 of the Existing Credit Agreement, the Borrowers have requested Incremental Term Loans in the form of Refinancing Term Loans (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">New Term B Loans</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in an aggregate principal amount not exceeding $1,990,000,000, the proceeds of which shall be used to refinance, in full (concurrently with the effectiveness of this Refinancing Amendment), the Term B Loans outstanding on the Amendment Effective Date before giving effect to this Refinancing Amendment (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Existing Term B Loans</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, each existing Term B Lender (each, an &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Existing Term B Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221;) that executes and delivers a signature page to this Refinancing Amendment in the form of Annex I hereto (a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lender Addendum</font><font style="font-family:inherit;font-size:12pt;">&#8221;) will thereby (i) agree to the terms of this Refinancing Amendment and (ii) agree to continue all (or such lesser amount as the Lead Arrangers may allocate) of its Existing Term B Loans outstanding on the Amendment Effective Date as New Term B Loans (such continued Existing Term B Loans, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Continued Term B Loans</font><font style="font-family:inherit;font-size:12pt;">&#8221; and all such Lenders, collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Continuing Term B Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;; the Existing Term B Lenders that are not Continuing Term B Lenders, collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Non-Continuing Term B Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in a principal amount equal to the aggregate principal amount of its Existing Term B Loans (or such lesser amount as the Lead Arrangers may allocate);</font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, each Person (other than a Continuing Term B Lender in its capacity as such) that agrees to make New Term B Loans (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Additional Term B Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) will make New Term B Loans to the Borrowers on the Amendment Effective Date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Additional Term B Loans</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in an amount equal to its Additional Term B Commitment (defined below); </font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Continuing Term B Lenders and the Additional Term B Lenders (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">New Term B Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) are severally willing to continue their Existing Term B Loans as New Term B Loans and/or to make Additional Term B Loans as New Term B Loans, as the case may be, subject to the terms and conditions set forth in this Refinancing Amendment; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:96px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:96px;">SECTION 1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Defined Terms.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Capitalized terms used and not otherwise defined herein have the meanings assigned to them in the Credit Agreement.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">#89446360v10&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SECTION 2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">New Term B Loans.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Subject to the terms and conditions set forth herein, each Continuing Term B Lender (i) severally agrees to continue all (or such lesser amount as the Lead Arrangers may allocate) of its Existing Term B Loans as New Term B Loans in a principal amount equal to the principal amount of its Existing Term B Loans (or such lesser amount as the Lead Arrangers may allocate; 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style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;The representations and warranties set forth in Section 4 of this Refinancing Amendment shall be true and correct in all respects on and as of the Amendment Effective Date, and the Administrative Agent shall have received a certificate (in form and substance reasonably acceptable to the Administrative Agent), dated as of the Amendment Effective Date and signed by a Responsible Officer of the Lead Borrower, certifying as to such representations and warranties.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3</font></div><div 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satisfactory to the Administrative Agent and its counsel.</font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;The Borrowers shall have paid all fees and amounts due and payable pursuant to this Refinancing Amendment and/or any letter agreements or fee letters by and between the Borrowers and the Lead Arrangers (collectively, &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Engagement Letters</font><font style="font-family:inherit;font-size:12pt;">&#8221;), including, to the extent evidenced by a written invoice, reimbursement or payment of documented and reasonable out-of-pocket expenses in connection with this Refinancing Amendment and any other out-of-pocket expenses of the 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full force and effect. Nothing herein shall be deemed to entitle the Borrowers to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;From and after the Amendment Effective Date, each reference in the Credit Agreement to &#8220;this Agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221;, &#8220;herein&#8221;, or words of like import, and each reference to the &#8220;Credit Agreement&#8221; in any other Loan Document shall be deemed a reference to the Credit Agreement.  This Refinancing Amendment shall constitute a &#8220;Loan Document&#8221; for all purposes of the Credit Agreement and the other Loan Documents.</font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;This Refinancing Amendment shall be deemed to be an &#8220;Incremental Facility Amendment&#8221; as defined in the Credit Agreement.  Each of the Lenders party hereto hereby acknowledge that the Borrowers hereby provide notice under Section 2.14 of the Credit Agreement of their request for Incremental Term Loans, with the proposed terms set forth herein, and all notice requirements in Section 2.14 of the Credit Agreement with respect to such request have been satisfied. </font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Existing Credit Agreement, as specifically amended by this Refinancing Amendment, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations (including, for the avoidance of doubt, all Obligations in respect of the New Term B Loans made available hereunder) of the Loan Parties under the Loan Documents, in each case as amended by this Refinancing Amendment.</font></div><div style="line-height:100%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;Each Loan Party and, in the case of clause (iii), each Guarantor hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party, (ii) ratifies and reaffirms each grant of a lien on, or security interest in, its property made pursuant to the Loan Documents (including, without limitation, the grant of security made by such Loan Party pursuant to the Security Agreement) and confirms that such liens and security interests continue to secure the Obligations under the Loan Documents (including, for the avoidance of doubt, all Obligations in respect of the New Term B Loans made available hereunder), subject to the terms thereof and (iii) in the case of each Guarantor, ratifies and reaffirms its guaranty of the Obligations (including, for the avoidance of doubt, all Obligations in respect of the New Term B Loans made available hereunder) pursuant to the Guarantee.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">5</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">#89446360v10&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SECTION 7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GOVERNING LAW.  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All amounts due under this Section 8 shall be paid within thirty (30) Business Days of receipt by the Lead Borrower of an invoice relating thereto setting forth such expenses in reasonable detail. Notwithstanding the foregoing, any fees and expenses payable in respect of the Amendment Effective Date, including legal fees and expenses, shall be due and payable as specified in Section 5(h) above.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SECTION 9.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Counterparts.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Refinancing Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 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style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;text-align:right;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">ANNEX I</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">LENDER ADDENDUM TO <br>REFINANCING AMENDMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Lender Addendum (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Lender Addendum</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is referred to in, and is a signature page to, the Refinancing Amendment  (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Refinancing Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;) dated as of March 21, 2017 to that certain Credit Agreement dated as of June 16, 2016 (as further amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) among KFC Holding Co. (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Lead Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), Pizza Hut Holdings, LLC and Taco Bell of America, LLC, as co-Borrowers (each, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221; and together with the Lead Borrower, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Borrowers</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Administrative Agent</font><font style="font-family:inherit;font-size:11pt;">&#8221;) for the Lenders.  Capitalized terms used but not defined in this Lender Addendum have the meanings assigned to such terms in the Refinancing Amendment.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By executing this Lender Addendum as a Continuing Term B Lender, the undersigned institution agrees (A) to the terms of the Refinancing Amendment and the Credit Agreement as amended thereby and (B) on the terms and subject to the conditions set forth in the Refinancing Amendment and the Credit Agreement as amended thereby, to continue all of its Existing Term B Loans (or such lesser amount as the Lead Arrangers may allocate) as Continued Term B Loans on the Amendment Effective Date.  The undersigned institution hereby makes the election to convert all of its Existing Term B Loans as set forth in the Register as of the Amendment Effective Date (or such lesser amount as the Lead Arrangers may allocate prior to the Amendment Effective Date) into Continued Term B Loans pursuant to a cashless conversion on the Amendment Effective Date pursuant to procedures specified by the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div><div style="line-height:120%;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:94.33551198257081%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:25%;"></td><td style="width:75%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Name of Institution:</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:12px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:62.745098039215684%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:0%;"></td><td style="width:100%;"></td></tr><tr><td><font>&#160;</font></td><td rowspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:8px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executing as a </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Continuing Term B Lender</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;By:   </font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Name:</font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Title:</font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For any institution requiring a second signature line: </font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;By:   </font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Name:</font></div><div style="padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;Title:</font></div></td></tr><tr><td><font>&#160;</font></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">#89446360v10&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">723425117</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ANNEX II</font></div><div style="line-height:120%;text-align:left;font-size:8.5pt;"><font style="font-family:inherit;font-size:8.5pt;"><br></font></div><div style="line-height:120%;padding-top:4px;text-align:right;padding-left:141px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENTS TO CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[Changed pages to Credit Agreement follow]</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">#89446360v10&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">723425117</font></div></div><hr style="page-break-after:always"><div><a name="s79646CC88670BD6FCAD2FC5E29E79130"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;font-style:italic;font-weight:bold;text-decoration:line-through;">Execution Version</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">EXECUTION VERSION</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">(conformed to the 2017 Refinancing Amendment,</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">dated as of March 21, 2017)</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dated as of June 16, 2016</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">among</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PIZZA HUT HOLDINGS, LLC, </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KFC HOLDING CO.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">and </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TACO BELL OF AMERICA, LLC, <br>as the Borrowers,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JPMORGAN CHASE BANK, N.A., <br>as Administrative Agent and Collateral Agent,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE LENDERS PARTY HERETO,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">and</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JPMORGAN CHASE BANK, N.A.,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GOLDMAN SACHS BANK USA,  <br>WELLS FARGO SECURITIES, LLC, <br>CITIGROUP GLOBAL MARKETS INC., </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED, </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MORGAN STANLEY SENIOR FUNDING, INC., </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FIFTH THIRD BANK </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">and </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">as Joint Lead Arrangers and Joint Bookrunners</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BARCLAYS BANK PLC,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE BANK OF NOVA SCOTIA,</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CO&#214;PERATIEVE RABOBANK U.A., NEW YORK BRANCH </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">and</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font 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style="font-family:inherit;font-size:11pt;text-decoration:underline;">Table of Contents</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:91%;"></td><td style="width:9%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Page</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Definitions and Accounting Terms</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.01.  Defined Terms</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.02.  Other Interpretive Provisions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">57</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.03.  Accounting Terms</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">58</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.04.  Rounding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">58</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.05.  References to Agreements, Laws, Etc</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">58</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">59</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.06.  Times of Day</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">59</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.07.  Timing of Payment or Performance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">59</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.08.  Currency Equivalents Generally</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">59</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 1.09.  Certain Calculations and Tests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">60</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">The Commitments and Credit Extensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.01.  The Loans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">61</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.02.  Borrowings, Conversions and Continuations of Loans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">62</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.03.  Letters of Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">63</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.04.  Swing Line Loans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">71</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.05.  Prepayments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">73</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.06.  Termination or Reduction of Commitments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">80</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.07.  Repayment of Loans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">80</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.08.  Interest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">81</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.09.  Fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">82</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.10.  Computation of Interest and Fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">82</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.11.  Evidence of Indebtedness</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">82</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">83</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.12.  Payments Generally</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">83</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.13.  Sharing of Payments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">85</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.14.  Incremental Credit Extensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">85</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.15.  Extensions of Term Loans and Revolving Credit Commitments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">88</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.16.  Defaulting Lenders</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">90</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 2.17.  Permitted Debt Exchanges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">91</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">92</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Taxes, Increased Costs Protection and Illegality</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.01.  Taxes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">94</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">95</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.02.  Inability to Determine Rates</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">98</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.03.  Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate Loans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">99</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.04.  Funding Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">100</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.05.  Matters Applicable to All Requests for Compensation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">101</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.06.  Replacement of Lenders under Certain Circumstances</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">102</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 3.07.  Survival</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">103</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-i-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:91%;"></td><td style="width:9%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Page</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 4</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Conditions Precedent to Credit Extensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 4.01.  Conditions to Closing Date</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">103</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 4.02.  Conditions to All Credit Extensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">105</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 5</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Representations and Warranties</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.01.  Existence, Qualification and Power; Compliance with Laws</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">105</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">106</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.02.  Authorization; No Contravention</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">106</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.03.  Governmental Authorization; Other Consents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">106</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.04.  Binding Effect</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">106</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.05.  Financial Statements; No Material Adverse Effect</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">106</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.06.  Litigation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">107</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.07.  Ownership of Property; Liens</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">107</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.08.  Environmental Compliance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">107</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.09.  Taxes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">107</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">108</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.10.  Compliance with ERISA</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">108</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.11.  Subsidiaries; Equity Interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">108</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.12.  Margin Regulations; Investment Company Act</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">108</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.13.  Disclosure</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">109</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.14.  Intellectual Property; Licenses, Etc</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">109</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.15.  Solvency</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">109</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.16.  Collateral Documents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">109</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.17.  Use of Proceeds</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">109</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 5.18.  Anti-Terrorism Laws; OFAC and Anti-Corruption Laws</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">110</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">ARTICLE 6</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Affirmative Covenants</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.01.  Financial Statements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">110</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.02.  Certificates; Other Information</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">111</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.03.  Notices</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">113</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.04.  Maintenance of Existence</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">113</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.05.  Maintenance of Properties</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">113</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.06.  Maintenance of Insurance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">113</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.07.  Compliance with Laws</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">114</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.08.  Books and Records</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">114</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.09.  Inspection Rights</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">114</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.10.  Covenant to Guarantee Obligations and Give Security</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">114</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.11.  Use of Proceeds</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">115</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.12.  Further Assurances and Post-Closing Covenants</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">115</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.13.  Designation of Subsidiaries</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">116</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.14.  Payment of Taxes</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">117</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.15.  Nature of Business</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">117</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Section 6.16.  Maintenance of Ratings</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">117</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-ii-</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s31D55CC7F95D1861C84BFC5E2A33DAB1"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This CREDIT AGREEMENT is entered into as of June 16, 2016, among PIZZA HUT HOLDINGS, LLC, KFC HOLDING CO. and TACO BELL OF AMERICA, LLC as co-borrowers (each, a &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221; and collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Borrowers</font><font style="font-family:inherit;font-size:11pt;">&#8221;), JPMORGAN CHASE BANK, N.A. (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">JPMCB</font><font style="font-family:inherit;font-size:11pt;">&#8221;), as Administrative Agent, and Collateral Agent and each L/C Issuer and lender from time to time party hereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lenders</font><font style="font-family:inherit;font-size:11pt;">&#8221; and individually, a &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">PRELIMINARY STATEMENTS</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.&#160;&#160;&#160;&#160;The Borrowers have requested that the Lenders extend credit </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">on the Closing Date</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">directly to or on behalf of the Borrowers in the form of (i) Term A Loans (as this and other capitalized terms used in these Preliminary Statements are defined in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 1.01</font><font style="font-family:inherit;font-size:11pt;">&#32;below) in an initial aggregate principal amount of $500,000,000, (ii) Term B Loans in an initial aggregate principal amount equal to $2,000,000,000 and (iii) a Revolving Credit Facility in an initial aggregate principal amount of $1,000,000,000.  The Revolving Credit Facility may include one or more Swing Line Loans and one or more Letters of Credit from time to time.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.&#160;&#160;&#160;&#160;The proceeds of the Term Loans together with the proceeds of borrowings under the Revolving Credit Loans and proceeds from the issuance of the Senior Notes will be used by the Borrowers (i) to repay amounts outstanding under that certain Credit Agreement dated as of March 22, 2012 among Yum! Brands, Inc. (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Parent&#8221;</font><font style="font-family:inherit;font-size:11pt;">), the subsidiaries of Parent party thereto, the lenders party thereto and JPMCB, as administrative agent, (ii) to make the Specified Distribution to Parent and (iii) to pay fees and expenses in connection with the foregoing (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Transactions</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  The proceeds of Revolving Credit Loans made after the Closing Date and Letters of Credit will be used for working capital and other general corporate purposes of the Borrowers and their Subsidiaries.  Swing Line Loans will be used for general corporate purposes of the Borrowers and their Subsidiaries.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">3.&#160;&#160;&#160;&#160;The Lenders have indicated their willingness to lend, and the L/C Issuer has indicated its willingness to issue Letters of Credit, in each case, on the terms and subject to the conditions set forth herein.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:</font></div><div style="line-height:120%;padding-left:270px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Article 1</font></div><div style="line-height:120%;padding-left:270px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:12px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Definitions and Accounting Terms</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 1.01.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Defined Terms</font><font style="font-family:inherit;font-size:11pt;">.  As used in this Agreement, the following terms shall have the meanings set forth below:</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">1998 Indenture</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Indenture, dated as of May 1, 1998, between the Parent (then known as Tricon Global Restaurants, Inc.) and The First National Bank of Chicago, as Trustee, as amended and supplemented and in effect from time to time.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">&#8220;2017 Refinancing Amendment&#8221; means the Refinancing Amendment to this Credit Agreement dated as of March 21, 2017 among the Loan Parties, the Administrative Agent and the New Term B Lenders.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">&#8220;2017 Refinancing Amendment Effective Date&#8221; means the &#8220;Amendment Effective Date&#8221; as defined in the 2017 Refinancing Amendment.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Acceptable Discount</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(iii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Acceptance Date</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(ii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Accounting Changes</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 1.03(d)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Acquired EBITDA</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Acquired Entity or Business or any Converted Restricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of such Acquired Entity or Business or Converted Restricted Subsidiary, as applicable, all as determined on a consolidated basis for such Acquired Entity or Business or Converted Restricted Subsidiary, as applicable.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Acquired Entity or Business</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in the definition of the term &#8220;Consolidated EBITDA.&#8221;</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Additional Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.14(d)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, subject to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 9.13</font><font style="font-family:inherit;font-size:11pt;">, JPMCB (and any of its Affiliates selected by JPMCB to act as administrative agent for any of the facilities provided hereunder), in its capacity as administrative agent under the Loan Documents, or any successor administrative agent appointed in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 9.09</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Administrative Agent&#8217;s Office</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any currency, the Administrative Agent&#8217;s address and, as appropriate, account as set forth on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule 10.02</font><font style="font-family:inherit;font-size:11pt;">&#32;with respect to such currency, or such other address or account as the Administrative Agent may from time to time notify the Lead Borrower and the Lenders.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Administrative Questionnaire</font><font style="font-family:inherit;font-size:11pt;">&#8221; means an Administrative Questionnaire in a form supplied by the Administrative Agent.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Affiliate</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.  &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Control</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.  &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Controlling</font><font style="font-family:inherit;font-size:11pt;">&#8221; and &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Controlled</font><font style="font-family:inherit;font-size:11pt;">&#8221; have meanings correlative thereto.  Notwithstanding the foregoing, no Lender listed on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule 2.01</font><font style="font-family:inherit;font-size:11pt;">&#32;(nor any of their respective Affiliates a majority of the voting Equity Interests of which are owned directly or indirectly by a parent company of any such Lender) shall be deemed to be an Affiliate of the Borrowers or any Restricted Subsidiary.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agent-Related Persons</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Agents, together with their respective Affiliates, and the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agents</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, collectively, the Administrative Agent, the Collateral Agent, and the Supplemental Administrative Agents (if any).</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Aggregate Commitments</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Commitments of all the Lenders.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; means this Credit Agreement.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agreement Currency</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 10.17</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Alternative Currency Letter of Credit</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a Letter of Credit denominated in a Revolving Alternative Currency.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Alternative Currency Sublimit</font><font style="font-family:inherit;font-size:11pt;">&#8221; means $350,000,000.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Annual Financial Statements</font><font style="font-family:inherit;font-size:11pt;">&#8221; means (i) the audited consolidated balance sheets of Parent and its consolidated subsidiaries as of the last day of each of the three most recent fiscal years ended at least 90 days prior to the Closing Date and (ii) the related audited consolidated statements of income and cash flows of Parent and its consolidated subsidiaries for each of the three most recent fiscal years ended at least 90 days prior to the Closing Date. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Anti-Corruption Laws</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 5.18(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Anticipated Cure Deadline</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 8.05(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Applicable Discount</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(iii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Applicable Lending Office</font><font style="font-family:inherit;font-size:11pt;">&#8221; means for any Lender, such Lender&#8217;s office, branch or affiliate designated for Eurocurrency Rate Loans of the applicable currency, Base Rate </font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-2-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:52px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Loans, L/C Advances, Swing Line Loans or Letters of Credit, as applicable, as notified to the Administrative Agent, any of which offices may be changed by such Lender.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Applicable Percentage</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, at any time (a) with respect to any Lender with a Commitment of any Class, the percentage equal to a fraction the numerator of which is the amount of such Lender&#8217;s Commitment of such Class at such time and the denominator of which is the aggregate amount of all Commitments of such Class of all Lenders (</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that (i) in the case of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.16</font><font style="font-family:inherit;font-size:11pt;">&#32;when a Defaulting Lender shall exist, &#8220;Applicable Percentage&#8221; with respect to the Revolving Credit Facility shall be determined by disregarding any Defaulting Lender&#8217;s Revolving Credit Commitment and (ii) if the Revolving Credit Commitments have terminated or expired, the Applicable Percentages of the Lenders shall be determined based upon the Revolving Credit Commitments most recently in effect) and (b) with respect to the Loans of any Class, a percentage equal to a fraction the numerator of which is such Lender&#8217;s Outstanding Amount of the Loans of such Class and the denominator of which is the aggregate Outstanding Amount of all Loans of such Class.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Applicable Rate</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a percentage per annum equal to:</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;(i)</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;for Eurocurrency Rate Loans that are Term B Loans, 2.75%, and (ii) for Base Rate Loans that are Term B Loans, 1.75%, and(b)&#160;&#160;&#160;&#160;(i)</font><font style="font-family:inherit;font-size:11pt;">&#32;until delivery of financial statements and a related Compliance Certificate for the first full fiscal quarter commencing on or after the </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">Closing</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">2017 Amendment Effective</font><font style="font-family:inherit;font-size:11pt;">&#32;Date pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.01</font><font style="font-family:inherit;font-size:11pt;">, (A) for Eurocurrency Rate Loans that are Term </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">B Loans, 2.00%, and (B) for Base Rate Loans that are Term B Loans, 1.00% and (ii) thereafter, (x) if the Secured Net Leverage Ratio set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a) is less than 1.00:1.00, (A) the Applicable Rate for Eurocurrency Rate Loans that are Term B Loans shall be 1.75% and (B) the Applicable Rate for Base Rate Loans that are Term B Loans shall be 0.75% and (y) if the Secured Net Leverage Ratio set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a) is greater than or equal to 1.00:1.00, (A) the Applicable Rate for Eurocurrency Rate Loans that are Term B Loans shall be 2.00% and (B) the Applicable Rate for Base Rate Loans that are Term B Loans shall be 1.00%, and</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">(b)&#160;&#160;&#160;&#160;(i) until delivery of financial statements and a related Compliance Certificate for the first full fiscal quarter commencing on or after the Closing Date pursuant to Section 6.01, (A) for Eurocurrency Rate Loans that are Term </font><font style="font-family:inherit;font-size:11pt;">A Loans or Revolving Credit Loans, 2.25%, (B) for Base Rate Loans that are Term A Loans or Revolving Credit Loans, 1.25%, and (C) for letter of credit fees, 2.25% per annum, and (ii) thereafter, in connection with Revolving Credit Loans, Term A Loans and letter of credit fees, the percentages per annum set forth in the table below, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.02(a)</font><font style="font-family:inherit;font-size:11pt;">:</font></div><div style="line-height:120%;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:49%;"></td><td style="width:35%;"></td><td style="width:16%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#d9d9d9;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#d9d9d9;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Eurocurrency Rate Loans and Letter of Credit Fees</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#d9d9d9;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Base Rate Loans</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Greater than or equal to 4.25:1.00</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.50%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.50%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Less than 4.25:1.00 but greater than or equal to 2.75:1.00</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.25%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.25%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Less than 2.75:1.00</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.00%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:6px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.00%</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:left;text-indent:14px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Any change in the Applicable Rate pursuant to </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:underline line-through;">clause</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">clauses (a) and</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(b)</font><font style="font-family:inherit;font-size:11pt;">&#32;above resulting from a change in the </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Seured Net Leverage Ratio or</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">, as applicable,</font><font style="font-family:inherit;font-size:11pt;">&#32;shall become effective as of the first Business Day immediately following the date the applicable Compliance Certificate is delivered pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.02(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-3-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Notwithstanding anything to the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined that the </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Secured Net Leverage Ratio or</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">, as applicable,</font><font style="font-family:inherit;font-size:11pt;">&#32;set forth in any Compliance Certificate delivered to the Administrative Agent is inaccurate for any reason (or a Compliance Certificate is not delivered within the time period set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.02</font><font style="font-family:inherit;font-size:11pt;">) and the result thereof is that the Lenders received interest or fees for any period based on an Applicable Rate that is less than that which would have been applicable had the </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Secured Net Leverage Ratio or</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">, as applicable,</font><font style="font-family:inherit;font-size:11pt;">&#32;been accurately determined, then, for all purposes of this Agreement, the &#8220;Applicable Rate&#8221; for any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Secured Net Leverage Ratio or</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio for such period</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">, as applicable</font><font style="font-family:inherit;font-size:11pt;">, and any shortfall in the interest or fees theretofore paid by the Borrowers for the relevant period pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.08</font><font style="font-family:inherit;font-size:11pt;">&#32;and</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.09</font><font style="font-family:inherit;font-size:11pt;">&#32;as a result of the miscalculation of the </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Secured Net Leverage Ratio or</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Total Leverage Ratio</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">, as applicable,</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be deemed to be (and shall be) due and payable under the relevant provisions of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.08</font><font style="font-family:inherit;font-size:11pt;">&#32;or </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.09</font><font style="font-family:inherit;font-size:11pt;">, as applicable, within ten (10) Business Days following the determination described above.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Notwithstanding the foregoing, the Applicable Rate in respect of any Class of Incremental Revolving Credit Commitments or Extended Revolving Credit Commitments and any Incremental Term Loans, Extended Term Loans or Revolving Credit Loans made pursuant to any Incremental Revolving Credit Commitments or Extended Revolving Credit Commitments shall be the applicable percentages per annum set forth in the relevant Incremental Facility Amendment or Extension Offer.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Appropriate Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, at 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Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a &#8220;Change in Law,&#8221; regardless of the date enacted, adopted or issued.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Change of Control</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the earlier to occur of:</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;any &#8220;person&#8221; or &#8220;group&#8221; of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Closing Date) is or becomes the &#8220;beneficial owner&#8221; (as defined in Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Closing Date), directly or indirectly, of more than 40% of the total voting power of the Voting Stock of Parent; </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;at any time, any Borrower ceases to be directly or indirectly wholly-owned by Parent (except pursuant to a transaction permitted under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 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holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of Parent&#8217;s voting stock immediately prior to that transaction (and such holders of Parent&#8217;s voting stock immediately prior to  <br>such transaction would not have otherwise caused a Change of Control) or (ii) another company  <br>(whether Parent is directly owned by such company or indirectly through other Subsidiaries of such company), </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that no &#8220;person&#8221; or &#8220;group&#8221; of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Closing Date) is the &#8220;beneficial owner&#8221; (as defined in Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Closing Date), directly or indirectly, of more than 40% of the 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China by the Companies and their Restricted Subsidiaries to Parent which in turn will affect a &#8220;spin-off&#8221; by distributing such Equity Interests to the holders of the Parent&#8217;s common stock, at which point Yum! China will become a separate, independent publicly traded company or (b) any other disposition of Equity Interests of Yum! China.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">China Entity</font><font style="font-family:inherit;font-size:11pt;">&#8221; means Yum! China and each Subsidiary, whether direct or indirect, of the Companies and any other entity contemplated by the Parent to be subject to the ChinaCo Spin, as set forth on Schedule 1.01D, and any other Subsidiary, whether direct or indirect, of the Companies or any other entity that is included in the China Spin-Off that does not own any material operating assets relating to other businesses outside of China and the inclusion of which, as conclusively determined by the Borrowers in good faith, would not have a material adverse effect on the Lenders.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Class</font><font style="font-family:inherit;font-size:11pt;">&#8221; (a) when used with respect to Lenders, refers to whether such Lenders hold a particular Class of Commitments or Loans, (b) when used with respect to Commitments, refers to whether such Commitments are Revolving Credit Commitments, Term A Commitments, </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">Term B  <br>Commitments,</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Extended Revolving Credit Commitments that are designated as an additional Class of</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-11-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4C95577BFFFEFE4ECE9CFC5E2A858763"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Designated Account</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.02(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Discount Range</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(ii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Discounted Prepayment Option Notice</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(ii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Discounted Voluntary Prepayment</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(i)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Discounted Voluntary Prepayment Notice</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(d)(v)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Disposed EBITDA</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Sold Entity or Business or any Converted Unrestricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of such Sold Entity or Business or such Converted Unrestricted Subsidiary, all as determined on a consolidated basis for such Sold Entity or Business or such Converted Unrestricted Subsidiary.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Disposition</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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as defined in the Commodity Exchange Act at the time the Guarantee of such Guarantor or the grant of such security interest would otherwise have become  <br>effective with respect to such related Swap Obligation but for such Guarantor&#8217;s failure to constitute an &#8220;eligible contract participant&#8221; at such time.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Excluded Taxes</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Agent, any Lender, any L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Loan Party under any Loan Document, (a) Taxes imposed on or measured by net income, franchise Taxes and branch profits Taxes imposed by any jurisdiction as a result of a present or former connection of such Agent, Lender, L/C Issuer or other recipient, as the case may be, with such jurisdiction (including as a result of being resident or being deemed to be resident, being organized, maintaining an Applicable Lending Office or carrying on business or being deemed to carry on business in such jurisdiction) (other than any connection arising solely from the recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document), (b) any withholding Tax resulting from a failure of a Lender to comply with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.01(f)</font><font style="font-family:inherit;font-size:11pt;">&#32;or  </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.01(h)</font><font style="font-family:inherit;font-size:11pt;">, (c) any U.S. federal withholding Tax imposed pursuant to FATCA, (d)&#160;any U.S. federal backup withholding imposed pursuant to Section 3406 of the Code and (e) in the case of a Lender or L/C Issuer, (other than an assignee pursuant to a request by the Borrower under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.03</font><font style="font-family:inherit;font-size:11pt;">), U.S. withholding Taxes  imposed on amounts payable to or for the account of such Lender or L/C Issuer with respect to an applicable interest in a Loan, L/C Borrowing or Commitment pursuant to a law in effect on the date on which (i) such Lender or L/C Issuer acquires such interest in the Loan, L/C Borrowing or Commitment or (ii) such Lender or L/C Issuer changes its lending office, except in the case of each of the preceding clauses (i) and (ii) to the extent that such Lender or L/C Issuer (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts for such Taxes pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.01</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">&#8220;Existing Credit Agreement&#8221;  means this Agreement as of the 2017 Refinancing Amendment Effective Date prior to giving effect to the 2017 Refinancing Amendment. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Existing Letters of Credit</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.03(a)(i)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Extended Revolving Credit Commitment</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.15(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Extended Term Loans</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.15(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Extension</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.15(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Extension Offer</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.15(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Facility</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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means, collectively, all international, foreign, federal, state, provincial and local laws (including common laws), statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">L/C Advance</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to each Revolving Credit Lender, such Lender&#8217;s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">L/C Borrowing</font><font style="font-family:inherit;font-size:11pt;">&#8221; means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the applicable Honor Date or refinanced as a Revolving Credit Borrowing.  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For all purposes under this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.13 or 3.14 of the ISP, the &#8220;Outstanding Amount&#8221; of such Letter of Credit shall be deemed to be the amount so remaining available to be drawn. 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A Letter of Credit may be a commercial letter of credit or a standby letter of credit. 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shall include (i) any cash or Cash Equivalents received upon the Disposition of any non-cash consideration by the Companies or any Restricted Subsidiary in any such Disposition and (ii) upon the reversal (without the satisfaction of any applicable liabilities in cash in a corresponding amount) of any reserve described in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">clause (D)</font><font style="font-family:inherit;font-size:11pt;">&#32;above or if such liabilities have not been satisfied in cash and such reserve is not reversed within 365 days after such Disposition or Casualty Event, the amount of such reserve; and</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;(i) with respect to the incurrence or issuance of any Indebtedness by any Company or any Restricted Subsidiary, the excess, if any, of (x) the sum of the cash received in connection with such incurrence or issuance over (y) the investment banking fees, underwriting discounts, commissions, costs and other out-of-pocket expenses and other customary expenses incurred by such Company or such Restricted Subsidiary in connection with such incurrence or issuance and (ii) with respect to any Permitted Equity Issuance by any direct or indirect parent of any Company, the amount of cash from such Permitted Equity Issuance contributed to the capital of any such Company.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">&#8220;New Term B Lender&#8221; 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means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that if both such rates are not so published for any day that is a Business Day, the term &#8220;New York Fed Bank Rate&#8221; means the rate quoted for such day for a federal funds transaction at 11:00 a.m. on such day as determined by the Administrative Agent; and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:11pt;">, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Non-Consenting Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.06(d)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Non-Loan Party</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any Restricted Subsidiary that is not a Loan Party.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Nonrenewal Notice Date</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning specified in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.03(b)(iii)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Note</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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means the Securities and Exchange Commission or any Governmental Authority succeeding to any of its principal functions.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Secured Hedge Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any Swap Contract that is entered into by and between any Loan Party (or any Person that merges into a Loan Party) or any Restricted Subsidiary and any Hedge Bank.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Secured Net Leverage Ratio</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt (other than any portion of Consolidated Total Debt that is unsecured) as of the last day of such Test Period to (b) Consolidated EBITDA of the Companies for such Test Period.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Secured Parties</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, collectively, the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Documentation Agents, the Co-Managers, the Lenders, the Hedge Banks, the Bilateral L/C Providers, the Cash Management Banks, the Supplemental Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 9.01(c)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securities Act</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Securities Act of 1933.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securitization Asset</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any accounts receivable, real estate asset, mortgage receivables or related assets relating to a Permitted Receivables Financing.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securitization Fees</font><font style="font-family:inherit;font-size:11pt;">&#8221; means distributions or payments made directly or by means of discounts with respect to any Securitization Asset or participation interest therein issued or sold in connection with, and other fees paid to a person that is not a Restricted Subsidiary in connection with, any Permitted Receivables Financing.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securitization Non-Disturbance Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; means an Acknowledgement and Waiver Agreement, dated as of the </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">date hereof</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Closing Date</font><font style="font-family:inherit;font-size:11pt;">&#32;(as amended, restated supplemented and otherwise modified from time to time), in form reasonably satisfactory to the Administrative Agent and the Borrowers, by the Collateral Agent and acknowledged, agreed and consented to by Citibank, N.A in its capacity as trustee under the Base Indenture.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securitization Repurchase Obligation</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any obligation of a seller of Securitization Assets in a Permitted Receivables Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim 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.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Securitization Subsidiary</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any Subsidiary in each case formed for the purpose of and that solely engages in one or more Permitted Receivables Financings and other activities reasonably related thereto.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-52-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s0E3464EC0452D786C84CFC5E2B7EA933"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Swing Line Sublimit</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Commitments.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Taco Bell Unrestricted Entities</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, collectively, Taco Bell Funding, LLC and its subsidiaries. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">TARGET Day</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any day on which (i) TARGET2 is open for settlement of payments in Euro and (ii) banks are open for dealings in deposits in Euro in the London interbank market.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">TARGET2</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform and which was launched on November 19, 2007.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Taxes</font><font style="font-family:inherit;font-size:11pt;">&#8221; means all present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges imposed by any Governmental Authorities, and additions to tax, penalties and interest with respect thereto.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term A Commitment</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, as to each Term A Lender, its obligation to make a Term A Loan to a Borrower pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01</font><font style="font-family:inherit;font-size:11pt;">&#32;in an aggregate principal amount not to exceed the amount set forth opposite such Lender&#8217;s name on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule 2.01</font><font style="font-family:inherit;font-size:11pt;">&#32;under the caption &#8220;Term A Commitment&#8221; or in the Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.  The initial aggregate amount of the Term A Commitments is $500,000,000.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term A Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, at any time, any Lender that has a Term A Commitment or a Term A Loan outstanding. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term A Loan</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a Loan made pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(a)</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#8220;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:underline line-through;">Term B Commitment</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#8221; means, as to each Term B Lender, its obligation to make a Term B Loan to a Borrower pursuant to</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:underline line-through;">Section 2.01</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">in an aggregate principal amount not to exceed the amount set forth opposite such Lender&#8217;s name on</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:underline line-through;">Schedule</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:underline line-through;">2.01</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">under the caption &#8220;Term B Commitment&#8221; or in the Assignment and Assumption pursuant to which such Term B Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.  The initial aggregate amount of the Term B Commitments is $2,000,000,000.</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">&#32;&#32;</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term B Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, at any time, any Lender that has</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">a Term B Commitment or</font><font style="font-family:inherit;font-size:11pt;">&#32;a Term B Loan outstanding. </font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term B Loan</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a Loan made pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(a)</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">. For the avoidance of doubt, after the 2017 Refinancing Amendment Effective Date, New Term B Loans shall constitute Term B Loans</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term Borrowing</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a Borrowing in respect of a Class of Term Loans.</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term Commitments</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a Term A Commitment</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">, a Term B Commitment,</font><font style="font-family:inherit;font-size:11pt;">&#32;or a commitment in respect of any Incremental Term Loans or any combination thereof, as the context may require.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-56-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sCD6909C7C489FDB04BDBFC5E2BB1A8A1"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">prepaid may not be reborrowed.  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Amounts borrowed under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(b)</font><font style="font-family:inherit;font-size:11pt;">&#32;and repaid or prepaid may not be reborrowed.  Term B Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">The Revolving Credit Borrowings</font><font style="font-family:inherit;font-size:11pt;">.  Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make (or cause its Applicable Lending Office to make) Revolving Credit Loans from time to time during the Availability Period in Dollars or in any Revolving Alternative Currency in an aggregate principal amount that will not (after giving effect to any prepayment of any Borrowing made with proceeds of such Loans on the same Business Day) result in (i) such Lender&#8217;s Revolving Credit Exposure exceeding such Lender&#8217;s Revolving Credit Commitment or (ii) the aggregate Revolving Credit Exposure exceeding the aggregate Revolving Credit Commitments; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">, that the aggregate Revolving Credit Exposure denominated in Revolving Alternative Currencies shall not at any time exceed the Alternative Currency Sublimit.  Within the limits of each Lender&#8217;s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(c)</font><font style="font-family:inherit;font-size:11pt;">, prepay under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05</font><font style="font-family:inherit;font-size:11pt;">, and reborrow under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(c)</font><font style="font-family:inherit;font-size:11pt;">.  Revolving Credit Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, and Revolving Credit Loans denominated in any Revolving Alternative Currency shall be Eurocurrency Rate Loans, as further provided herein. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.02.&#160;&#160;&#160;&#160;Borrowings, Conversions and Continuations of Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:62px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon any Borrower&#8217;s irrevocable notice to the Administrative Agent, which may be given by telephone.  Each such notice must be received by the Administrative Agent substantially in the form attached hereto as </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:11pt;">&#32;(a) with respect to Revolving Credit Loans denominated in Dollars or Term Loans, (i) in the case of a Eurocurrency Rate Loan, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of the proposed Borrowing or (ii) in the case of a Base Rate Loan, not later than 12:00 p.m.,  <br>New York City time, on the Business Day of the proposed Borrowing and (b) with respect to Revolving Credit Loans denominated in any Revolving Alternative Currency, not later than 3:00 p.m., Local Time,  <br>three (3) Business Days before the date of the proposed Borrowing.  Each telephonic notice by a  <br>Borrower pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.02(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;must be confirmed promptly by hand delivery, telecopy or electronic transmission to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of a Borrower.  Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of the Borrowing Minimum or a whole multiple of the Borrowing Multiple in excess thereof.  Except as provided in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.03(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;and, each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of the Borrowing Minimum or a whole multiple of the Borrowing Multiple in excess thereof.  Each Committed Loan  <br>Notice (whether telephonic or written) shall specify (i) whether the Borrowers are requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Loans from one Type to the other, or a </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-63-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA50C481783102F19FFFEFC5E2BD4013C"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(iii)&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary contained in this Agreement, the Lead Borrower may rescind any notice of prepayment under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;if such prepayment would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated or shall otherwise be delayed; 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</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that (x) the ECF Percentage shall be 25% if the Total Leverage Ratio as of the last day of the fiscal year covered by such financial statements was less than 3.00:1.00 and greater than or equal to 2.75:1.00 and (y) the ECF Percentage shall be 0% if the Total Leverage Ratio as of the last day of the fiscal year covered by such financial statements was less than 2.75:1.00.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(ii)&#160;&#160;&#160;&#160;(A) Subject to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(b)(ii)(B)</font><font style="font-family:inherit;font-size:11pt;">, if following the Closing Date (x) any Company or Restricted Subsidiary Disposes of any property or assets (other than any Disposition of any property or assets permitted by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 7.05(a)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(b)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(c)</font><font style="font-family:inherit;font-size:11pt;">, (d) (to the extent constituting a Disposition to a Loan Party, by a Restricted Subsidiary that is not a Loan Party), </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(e)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(f)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(g)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(i)</font><font style="font-family:inherit;font-size:11pt;">&#32;(except as set forth in the second proviso therein),</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(j)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(k)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(n)</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(q)</font><font style="font-family:inherit;font-size:11pt;">, (s) and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(u)</font><font style="font-family:inherit;font-size:11pt;">), or (y) any Casualty Event occurs, which in the aggregate results in the realization or receipt by such Company or Restricted Subsidiary of Net Cash Proceeds, the Borrowers shall make a prepayment, in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(b)(ii)(C)</font><font style="font-family:inherit;font-size:11pt;">, pro rata among all Classes of Term Loans of 100% of all such Net Cash Proceeds realized or received; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that no such prepayment shall be required pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(b)(ii)(A)</font><font style="font-family:inherit;font-size:11pt;">&#32;with respect to such portion of such Net Cash Proceeds that the Lead Borrower shall have, on or prior to such date, given written notice to the Administrative Agent of its intent to reinvest in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05(b)(ii)(B)</font><font style="font-family:inherit;font-size:11pt;">&#32;(which notice may only be provided if no Event of Default has occurred and is then continuing). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(B)&#160;&#160;&#160;&#160;With respect to any Net Cash Proceeds realized or received with  <br>espect to any Disposition (other than any Disposition specifically excluded from the </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-76-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s2E6F39ACB45F2A56F99FFC5E2C04B31B"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">obligations with respect to such Letters of Credit) would exceed the aggregate Revolving Credit Commitments.  The amount of any such Commitment reduction shall not be applied to the Letter of Credit Sublimit or the Swing Line Sublimit unless, after giving effect to any reduction of the Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Revolving Credit Facility, in which case such sublimit shall be automatically reduced by the amount of such excess.  Notwithstanding the foregoing, the Borrowers may rescind or postpone any notice of termination of the Commitments if such termination would have resulted from a refinancing, which refinancing shall not be consummated or otherwise shall be delayed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Mandatory</font><font style="font-family:inherit;font-size:11pt;">.  The Term Commitment of each Term Lender shall be automatically and permanently reduced to $0 upon the making of such Term Lender&#8217;s Term Loans pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.01(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;or </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">2.01(b)</font><font style="font-family:inherit;font-size:11pt;">, as applicable.  The Revolving Credit Commitments shall terminate on the Maturity Date therefor.  The Extended Revolving Credit Commitments shall terminate on the maturity date applicable thereto. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Application of Commitment Reductions; Payment of Fees</font><font style="font-family:inherit;font-size:11pt;">.  The Administrative Agent will promptly notify the Lenders of any termination or reduction of unused Commitments of any Class under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.06</font><font style="font-family:inherit;font-size:11pt;">.  Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender&#8217;s Applicable Percentage of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.06</font><font style="font-family:inherit;font-size:11pt;">).  All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitments shall be paid on the effective date of such termination.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.07.&#160;&#160;&#160;&#160;Repayment of Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Term A Loans.</font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;The Borrowers shall repay to the Administrative Agent for the ratable account of the Term Lenders holding each Class of Term A Loans in Dollars  on the last Business Day of each March, June, September and December, commencing with the second such date to occur after the Closing Date, an aggregate principal amount equal to the applicable percentage set forth below of the aggregate principal amount of the Term A Loans funded on the Closing Date and  on the Maturity Date for the Term A Loans, the aggregate principal amount of all Term A Loans outstanding on such date; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that payments required by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.07(a)(i)</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be reduced as a result of the application of prepayments in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:86.75213675213675%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:67%;"></td><td style="width:33%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#d9d9d9;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Payment Dates (commencing with the first payment date occurring at least one full fiscal quarter after the Closing Date):</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#d9d9d9;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:center;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Quarterly Amortization Percentage:</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">First four payment dates</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:60px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">0%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Second four payment dates</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:60px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.25%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Third four payment dates</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:60px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.25%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Fourth four payment dates</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:60px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.875%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:8px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:8px;text-align:left;padding-left:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Fifth four payment dates</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid 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The Borrowers shall repay to the Administrative Agent for the ratable account of the Term Lenders holding each Class of Term B Loans in Dollars  on the last Business Day of each March, June, September and December, commencing with the second such date to occur after the </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">Closing</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">2017 Refinancing Amendment Effective</font><font style="font-family:inherit;font-size:11pt;">&#32;Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of the Term B Loans funded on the </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">Closing</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">2017 Refinancing </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-82-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">Amendment Effective</font><font style="font-family:inherit;font-size:11pt;">&#32;Date and  on the Maturity Date for the Term B Loans, the aggregate principal amount of all Term B Loans outstanding on such date; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that payments required by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.07(b)(i)</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be reduced as a result of the application of prepayments in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.05</font><font style="font-family:inherit;font-size:11pt;">.  In the event any Incremental Term Loans or Extended Term Loans are made, such Incremental Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrowers in the amounts and on the dates set forth in the definitive documentation with respect thereto and on the applicable Maturity Date thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Revolving Credit Loans</font><font style="font-family:inherit;font-size:11pt;">.  The Borrowers shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the Maturity Date for the Revolving Credit Facility the principal amount of each of its Revolving Credit Loans outstanding on such date in the currency in which such Revolving Credit Loan is denominated.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(d)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Swing Line Loans</font><font style="font-family:inherit;font-size:11pt;">.  The Borrowers shall repay its Swing Line Loans on the earlier to occur of  the date five (5) Business Days after such Loan is made and  the Maturity Date for the Revolving Credit Facility. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.08.&#160;&#160;&#160;&#160;Interest.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;Subject to the provisions of</font><font style="font-family:inherit;font-size:11pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.08(b)</font><font style="font-family:inherit;font-size:11pt;">,  each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate,  each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and  each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate  plus the relevant Applicable Rate for Revolving Credit Loans that are Base Rate Loans (or such other rate as may otherwise be agreed by the Borrowers and the applicable Swing Line Lender).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;The Borrowers shall pay interest on past due amounts under this Agreement at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.  Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand to the fullest extent permitted by and subject to applicable Laws, including in relation to any required additional agreements.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(c)&#160;&#160;&#160;&#160;Interest on each Loan shall be due and payable in the currency in which such Loan is denominated in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein.  Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.09.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Fees</font><font style="font-family:inherit;font-size:11pt;">.  In addition to certain fees described in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Sections 2.03(g)</font><font style="font-family:inherit;font-size:11pt;">&#32;and (h):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Commitment Fee</font><font style="font-family:inherit;font-size:11pt;">.  The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender under the Revolving Credit Facility a commitment fee in Dollars (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Commitment Fee</font><font style="font-family:inherit;font-size:11pt;">&#8221;) at the applicable Commitment Fee Rate on the actual daily amount by which the Revolving Credit Commitment of such Revolving Credit Lender exceeds the Revolving Credit Exposure  (less the Swing Line Exposure) of such Lender.  The Commitment Fee for the Revolving Credit Facility shall accrue at all times from the Closing Date until the Maturity Date for the Revolving Credit Facility, including at any time during which one or more of the conditions in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 4</font><font style="font-family:inherit;font-size:11pt;">&#32;is not met, and shall be  <br>due and payable quarterly in arrears on the last Business Day of each March, June, September and </font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-83-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA1788391016ACCC923F7FC5E2C26F394"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">proceeds of any Borrowings or drawings under any Letter of Credit will be used for any purpose that violates Regulation U or Regulation X of the FRB and  with respect to each of the Loan Parties, after applying the proceeds of all Credit Extensions, not more than 25% of the value of its assets constitutes margin stock.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;None of the Companies, any Person Controlling the Companies or any </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">Subsidiary</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">other Loan Party</font><font style="font-family:inherit;font-size:11pt;">&#32;is or is required to be registered as an &#8220;investment company&#8221; under the Investment Company Act of 1940, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.13.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Disclosure</font><font style="font-family:inherit;font-size:11pt;">.  No report, financial statement, certificate or other written information furnished by or on behalf of any Loan Party to any Agent, any Lead Arranger or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any other Loan Document (as modified or supplemented by other information so furnished) when taken as a whole contains when furnished any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that, with respect to projected financial information, the Borrowers represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.14.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Intellectual Property; Licenses, Etc</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Loan Parties and the other Restricted Subsidiaries own, license or possess the right to use, all of the trademarks, service marks, trade names, domain names, copyrights, patents, patent rights, technology, software, know-how database rights, design rights and other intellectual property rights (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">IP Rights</font><font style="font-family:inherit;font-size:11pt;">&#8221;) that are used in or reasonably necessary for the operation of their respective businesses as currently conducted, and, to the knowledge of the Companies, without violation of the rights of any Person, except to the extent such failures or violations, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.  No claim or litigation regarding any such IP Rights, is pending or, to the knowledge of the Companies, threatened against any Loan Party or Subsidiary, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.15.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Solvency</font><font style="font-family:inherit;font-size:11pt;">.  On the Closing Date after giving effect to the Transaction, the Companies and the Subsidiaries, on a consolidated basis, are Solvent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.16.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Collateral Documents</font><font style="font-family:inherit;font-size:11pt;">.  The Collateral Documents are effective to create in favor of the Collateral Agent for the benefit of the Secured Parties legal, valid and enforceable Liens on and security interests in, the Collateral described therein and to the extent intended to be created thereby, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity, and  when all appropriate filings or recordings are made in the appropriate offices as may be required under applicable Laws (which filings or recordings shall be made to the extent required by any Collateral Document) and  upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by any Collateral Document), the Liens created by such Collateral Documents will constitute so far as possible under relevant Law fully perfected first-priority Liens on, and security interests in, all right, title and interest of the Loan Parties in such Collateral, in each case subject to no Liens other than Permitted Liens.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.17.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Use of Proceeds</font><font style="font-family:inherit;font-size:11pt;">.  The proceeds of the Term A Loans, the Term B Loans </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">(other than the New Term B Loans)</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;">and the Revolving Credit Loans shall be used in a manner consistent with the uses set forth in the Preliminary Statements to this Agreement.  </font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">The New Term B Loans shall</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;">&#32;</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-111-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">be used on the 2017 Refinancing Amendment Effective Date to refinance in full the Outstanding Amount of Term B Loans (as defined in the Existing Credit Agreement) immediately prior to the effectiveness of the 2017 Refinancing Amendment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 5.18.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Anti-Terrorism Laws; OFAC and Anti-Corruption Laws</font><font style="font-family:inherit;font-size:11pt;">.  (a) Each of the Companies and their Subsidiaries has complied and is in compliance, in all material respects, with the Sanctions Laws and Regulations and with the United States Foreign Corrupt Practices Act of 1977, as amended and any similar laws, rules or regulations issued, administered or enforced by any Governmental Authority having jurisdiction over any of the Companies and their Subsidiaries (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Anti-Corruption Laws</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  No Borrowing or Letter of Credit, or use of any part of the proceeds of any Loan, will violate or result in the violation of any Sanctions Laws and Regulations or any Anti-Corruption Laws applicable to any party hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;None of  the Companies or any other Loan Party,  the Restricted Subsidiaries that are not Loan Parties or  to the knowledge of the Borrowers, any director, manager, officer, agent or employee of the Companies or any of their Restricted Subsidiaries, in each case, is  on the list of &#8220;Specially Designated Nationals and Blocked Persons&#8221; or other sanctions list maintained by OFAC,  located, organized or resident in a country or territory that is itself the target of any Sanctions Laws and Regulations or  50% or more owned by one or more Persons described in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">clause (A)</font><font style="font-family:inherit;font-size:11pt;">&#32;above.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;The Companies and their Restricted Subsidiaries have implemented and maintain in effect policies and procedures reasonably designed to ensure compliance by the Companies and the Restricted Subsidiaries, and by their respective directors, officers, employees and agents in connection with any such Person&#8217;s actions on behalf of the Companies or the Restricted Subsidiaries, with Sanctions Laws and Regulations and with Anti-Corruption Laws.</font></div><div style="line-height:138%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Article 6</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Affirmative Covenants</font></div><div style="line-height:120%;text-align:left;padding-left:52px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">From and after the Closing Date and for so long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrowers shall, and shall (except in the case of the covenants set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.01</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.02</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 6.03</font><font style="font-family:inherit;font-size:11pt;">) cause each of the other Companies and the Restricted Subsidiaries to:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 6.01.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Financial Statements</font><font style="font-family:inherit;font-size:11pt;">.  Deliver to the Administrative Agent for prompt further distribution to each Lender:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(a)&#160;&#160;&#160;&#160;as soon as available, but in any event within ninety (90) days after the end of each fiscal year of Parent, all financial information that would be required to be contained in an annual report on Form 10-K for the Companies (if the Companies as a group were required to file such reports), or any successor or comparable form, filed with the SEC, including a &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221;, accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any &#8220;going concern&#8221; or like qualification or exception (other than with respect to, or resulting from, the regularly scheduled maturity of the Revolving Credit Commitments) or any qualification or exception as to the scope of such audit; and</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-112-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s0C6B3D25FE3BC51F4035FC5E2C589117"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font 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style="font-family:inherit;font-size:11pt;text-decoration:underline;">clause (m)(ii)</font><font style="font-family:inherit;font-size:11pt;">, the following shall be deemed to be cash:  the assumption by the transferee of Indebtedness or other liabilities contingent or otherwise of the Companies or any of the Restricted Subsidiaries (other than Subordinated Debt) and the valid release of the Companies or such Restricted Subsidiary, by all applicable creditors in writing, from all liability on such Indebtedness or other liability in connection with such Disposition,  securities, notes or other obligations received by the Companies or any of the Restricted Subsidiaries from the transferee that are converted by such Company or any of the Restricted Subsidiaries into cash or Cash Equivalents within 180 days following the closing of such Disposition,  Indebtedness (other than Subordinated Debt) of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Disposition, to the extent that the Companies and each other Restricted Subsidiary are released from any Guarantee of payment of such Indebtedness in connection with such Disposition and  aggregate non-cash consideration received by the Companies and their respective Restricted Subsidiaries for all Dispositions under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">clause (m)</font><font style="font-family:inherit;font-size:11pt;">&#32;having an aggregate </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-133-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr 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The foregoing costs and expenses shall include all reasonable search, filing, recording and title insurance charges and fees related thereto, and other reasonable and documented out-of-pocket expenses incurred by any Agent.  The agreements in this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 10.04</font><font style="font-family:inherit;font-size:11pt;">&#32;shall survive the termination of the Aggregate Commitments and repayment of all other Obligations.  All amounts due under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 10.04</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be paid within </font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">ten</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">thirty</font><font style="font-family:inherit;font-size:11pt;">&#32;(</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">10</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">30</font><font style="font-family:inherit;font-size:11pt;">) Business Days of receipt by the Lead Borrower of an invoice relating thereto setting forth such expenses in reasonable detail.  If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in its sole discretion.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:6px;text-indent:66px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 10.05.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Indemnification by the Borrowers</font><font style="font-family:inherit;font-size:11pt;">.  Whether or not the transactions contemplated hereby are consummated, the Borrowers shall indemnify and hold harmless each Agent-Related Person, each Lender, each Lead Arranger, each Documentation Agent and each Co-Manager and each of their respective Affiliates, directors, officers, employees, counsel, agents, advisors, and other representatives (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Indemnitees</font><font style="font-family:inherit;font-size:11pt;">&#8221;) from and against any and all losses, liabilities, damages, claims, and reasonable and documented or invoiced out-of-pocket fees and expenses (including reasonable Attorney Costs of one counsel for all Indemnitees and, if necessary, one firm of local counsel in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for all Indemnitees (and, in the case of an actual or perceived conflict of interest, where the Indemnitee affected by such conflict informs the Lead Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Indemnitee)) of any such Indemnitee arising out of or relating to any claim or any litigation or other proceeding (regardless of whether such Indemnitee is a party thereto and whether or not such proceedings are brought by any Company, its equity holders, its Affiliates, creditors or any other third person) that relates to the Transaction, including the financing contemplated hereby, of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with  the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby,  any Commitment, Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), or  any actual or alleged presence or Release or threat of Release of Hazardous Materials on, at, in, under or from any property currently or formerly owned, leased or operated by any Loan Party or any of its respective Subsidiaries, or any Environmental Liability related in any way to any Loan Party or any of its respective Subsidiaries, or  any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) (all the foregoing, collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Indemnified Liabilities</font><font style="font-family:inherit;font-size:11pt;">&#8221;), in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements resulted from (x) the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its controlled Affiliates or controlling Persons or any of the officers, directors, employees, agents, advisors or members of any of the foregoing, in each case who are involved in or aware of the Transaction (as determined by a court of competent jurisdiction in a final and non-appealable decision), (y) a material breach of the Loan Documents by such Indemnitee or one of its controlled Affiliates (as determined by a court of competent jurisdiction in a final and non-appealable decision) or (z) disputes solely between and among such Indemnitees to the extent such disputes do not arise from any act or omission of any Company or </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">-159-</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sBD5F6B44B2F795E3A49BFC5E2CCC4E66"></a></div><div><div 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style="font-family:inherit;font-size:11pt;text-decoration:underline;">Assignees</font><font style="font-family:inherit;font-size:11pt;">&#8221;) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 10.07(b)</font><font style="font-family:inherit;font-size:11pt;">, participations in L/C Obligations and in Swing Line Loans) at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(A)&#160;&#160;&#160;&#160;the Lead Borrower, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that, no consent of the Lead Borrower shall be required for an assignment  of any Term Loan to any other Lender, any Affiliate of a Lender or any Approved Fund,  of any Revolving Credit Loan or Revolving Credit Commitment to any other Revolving Lender, any Affiliate of a Revolving Lender or any Approved Fund or  of any Term Loan, Revolving Credit Loans or Revolving Credit Commitment, if an Event of Default under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 8.01(a)</font><font style="font-family:inherit;font-size:11pt;">, (f) or (g) (in the case of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 8.01(f)</font><font style="font-family:inherit;font-size:11pt;">&#32;or (g), limited to the Borrowers) has occurred and is continuing, to any Assignee; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">, further, that with respect to an assignment of Term Loans, such consent shall be deemed to have been given if the Lead Borrower has not responded within 5 Business Days after notice by the Administrative Agent;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(B)&#160;&#160;&#160;&#160;the Administrative Agent; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;that no consent of the Administrative Agent shall be required for an assignment of all or any portion of a Term Loan to another Lender, an Affiliate of a Lender or an Approved Fund or  of any Revolving Credit Loan or Revolving Credit Commitment to any other Revolving Lender; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(C)&#160;&#160;&#160;&#160;each L/C Issuer at the time of such assignment, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that no consent of such L/C Issuers shall be required for any assignment of a Term Loan; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(D)&#160;&#160;&#160;&#160;in the case of any assignment of any of the Revolving Credit Facility, each Swing Line Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:114px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(ii)&#160;&#160;&#160;&#160;Assignments shall be subject to the following additional conditions:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(A)&#160;&#160;&#160;&#160;except in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender&#8217;s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 (in the case of the Revolving Credit Facility) or $</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;text-decoration:line-through;">1,000,000</font><font style="font-family:inherit;font-size:11pt;color:#0000ff;text-decoration:underline;">250,000</font><font style="font-family:inherit;font-size:11pt;">&#32;(in the case of a Term Loan) unless the Lead Borrower and the Administrative Agent otherwise consents, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that  no such consent of the Lead Borrower shall be required if an Event of Default under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 8.01(a)</font><font style="font-family:inherit;font-size:11pt;">, (f) or (g) has occurred and is continuing and  such amounts shall be aggregated in respect of each Lender and its Affiliates or Approved Funds, if any;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:102px;text-indent:76px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(B)&#160;&#160;&#160;&#160;the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#0000ff;text-decoration:underline;">723481589</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE48118F96E35EE9FDFCCFC5E2CFD6AD2"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SCHEDULE 1</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Additional Term B Commitment</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On file with the Administrative Agent</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">#89446360v10&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">723425117</font></div></div>	</body>
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<div><a name="s1bfde27410c3478bbe07454029665f9a"></a></div><div><div style="line-height:120%;text-align:center;font-size:70pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.2421875%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:20%;"></td><td style="width:80%;"></td></tr><tr><td rowspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="yumlogoa05.jpg" alt="yumlogoa05.jpg" style="height:126px;width:113px;"></div></td><td style="vertical-align:bottom;border-bottom:1px solid #ff0000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:70pt;"><font style="font-family:Impact,Impact;font-size:70pt;color:#000080;">NEWS</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#000080;">Keith Siegner</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;color:#000080;font-style:italic;">Vice President, Investor Relations, Corporate Strategy and Treasurer</font></div></td></tr></table></div></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">YUM! BRANDS, INC. COMPLETES REPRICING OF APPROXIMATELY $2.0 BILLION TERM LOAN B FACILITY</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LOUISVILLE, KY - March 21, 2017 - Yum! Brands, Inc. (NYSE: YUM) (the &#8220;Company&#8221;) today announced that certain subsidiaries that operate the Company&#8217;s KFC, Pizza Hut and Taco Bell businesses have completed the repricing of the existing approximately $2.0 billion Term Loan B under the Senior Secured Credit Facility pursuant to an amendment to the Senior Secured Credit Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The amendment reduces the interest rate applicable to the senior secured term loan by 0.75% to adjusted LIBOR plus 2.00%, with a rate stepdown to LIBOR plus 1.75%, in the event the Secured Leverage Ratio is less than 1 to 1. The repricing is expected to reduce annual cash interest by approximately $15 million. The maturity date and all other material provisions under the Senior Secured Credit Agreement remain unchanged.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The decrease in interest expense resulting from this repricing is another positive step towards a more efficient cost structure while maintaining an optimized capital structure of approximately 5.0x leverage.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;">Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America.  The company&#8217;s restaurant brands - KFC, Pizza Hut and Taco Bell - are the global leaders of the chicken, pizza and Mexican-style food categories.  Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail</font><font style="font-family:inherit;font-size:11pt;color:#0a0a0a;">&#32;</font><font style="font-family:inherit;font-size:10pt;">development.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Cautionary Statement Regarding Forward-Looking Statements </font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Certain statements in this communication contain &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts. These statements often include words such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;seek,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;plan,&#8221; &#8220;could,&#8221; &#8220;target,&#8221; &#8220;predict,&#8221; &#8220;likely,&#8221; &#8220;should,&#8221; &#8220;forecast,&#8221; &#8220;outlook,&#8221; &#8220;model,&#8221; &#8220;ongoing&#8221; or other similar terminology. Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the future earnings and performance as well as capital structure of Yum! Brands or any of its businesses. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. Factors that could cause actual results and events to differ materially from our expectations and forward-looking statements are, in addition to those noted above, included in reports filed with the SEC by Yum! Brands from time to time, including those discussed under the heading &#8220;Risk Factors&#8221; in our most recently filed reports on Form 10-K and 10-Q. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We are not undertaking to update any of these statements.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Analysts are invited to contact:</font></div><div style="line-height:120%;text-align:left;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Keith Siegner, Vice President, Investor Relations, Corporate Strategy and Treasurer, at 888/298-6986</font></div><div style="line-height:120%;text-align:left;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Elizabeth Grenfell, Director, Investor Relations, at 888/298-6986</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Members of the media are invited to contact:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Virginia Ferguson, Director, Public Relations, at 502/874-8200</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">Yum! Brands, Inc.    1900 Colonel Sanders Lane    Louisville, KY 40213</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">P: 502.874.8300    www.yum.com/investors</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
